FTX is the opposite of #Bitcoin#Bitcoin ’s protocol was created precisely to prevent Ponzi schemes, bank runs, Enron’s, WorldCom’s, Bernie Madoff’s, Sam Bankman-Fried’s…
…bailouts and wealth reassignments.
Some understand it, some not yet.
We’re still early.
🌎/21m
The world debt is $305 Trillion.
Written: $305,000,000,000,000
Just for visualisation: This is what one Trillion looks like stacked with $100 bills. Take it 305 times and you got the world debt. And they are still printing!
Now, imagine not owning #Bitcoin.
Proof of Stake accounting has existed and has failed for centuries, all legacy accounting uses alterable Proof of Stake ledgers
#Bitcoin Proof of Work deletes Stakeholder control from accounting. Providing the first unalterable, uncensorable, publicly audited ledger in history
🧵THREAD: Instead of shamefully promoting pyramidal yield-chasing custodial schemes, to separate savers from their #Bitcoin, VCs could have invested in energy innovation through Bitcoin mining.
Here are some examples of innovators who are changing the world for the better. 1/
Imagine being a country that has adopted the USD as a currency and then Jay Powell comes along and prints $16T in two years and you can’t do anything about it. That’s why countries will opt out to #bitcoin like @nayibbukele did.