BTC Drew⚡🟠

Insights on #bitcoin. Stacking Sats and pursuing the low time preference Bitcoin Standard 💪

[BTC Drew⚡🟠 @btcdrew]

Ten years ago, the thesis of "Speculative Attack" by
@BitcoinPierre argued that the economic rationale to borrow weak fiat to buy Bitcoin is so favorable it's inevitable.

This "greatest pair trade in history", is driven by #Bitcoin's superior properties.

Let's discuss more in depth, in episode 2 of The Bitcoiner Study podcast.

🧵👇

[BTC Drew⚡🟠 @btcdrew]

@CorySwan 🫡

[BTC Drew⚡🟠 @btcdrew]

Speculative Attack, Season 2:

https://t.co/hFhreJxbFt

[BTC Drew⚡🟠 @btcdrew]

Crucially, the avenues for speculative attack have widened beyond simple borrowing. Examples include companies like MicroStrategy and El Salvador borrowing fiat to accumulate Bitcoin.

[BTC Drew⚡🟠 @btcdrew]

The authors conclude that as Bitcoin becomes more mainstream, the speculative attack will become more compelling, eventually leading to a point where nobody will trade Bitcoin for fiat. The "slow-motion collapse of fiat" continues.

Speculative Attack:

https://t.co/1PtQa8YZHH

[BTC Drew⚡🟠 @btcdrew]

"Speculative Attack, Season 2" (2024), co authored by Allen Farrington (@allenf32), argues that the original thesis has been correct, with Bitcoin's significant price appreciation... Moreover, fiat is in worse shape today due to increased debt and money printing.

[BTC Drew⚡🟠 @btcdrew]

Ten years ago, the thesis of "Speculative Attack" by
@BitcoinPierre argued that the economic rationale to borrow weak fiat to buy Bitcoin is so favorable it's inevitable.

This "greatest pair trade in history", is driven by #Bitcoin's superior properties.

Let's discuss more in depth, in episode 2 of The Bitcoiner Study podcast.

🧵👇

[BTC Drew⚡🟠 @btcdrew]

The predicted long-term consequence is hyperbitcoinization: people will be "forced" to use Bitcoin as their fiat currencies become worthless due to these economic pressures and speculative attacks. "Your money is no good here" becomes the reality.

[BTC Drew⚡🟠 @btcdrew]

@AdamBLiv @saylor @Strategy Here is some commentary from a Twenty One slide deck, comparing some metrics. FWIW

[Jesse Myers @Croesus_BTC]

New podcast does a great job of turning my Once-in-a-Species essay into an engaging, quick conversational rundown.

I think Drew and his co-host are onto something with this format 🔥

[BTC Drew⚡🟠 @btcdrew]

@Croesus_BTC Thanks for the feedback Jesse. Will do going forward. Great job once again!

[BTC Drew⚡🟠 @btcdrew]

Why did Homo sapiens sapiens triumph over Neanderthals? In "Once-in-a-Species," Jesse Myers
@Croesus_BTC argues it’s our unique fascination with scarcity, that gave us the edge. Let’s explore this groundbreaking idea in episode 1 of the Bitcoiner Study podcast. #Bitcoin

[BTC Drew⚡🟠 @btcdrew]

https://t.co/FaIDeBQSn7

[BTC Drew⚡🟠 @btcdrew]

A single amino acid mutation in the TKTL1 gene supercharged our frontal brain regions, enhancing abstract thought. This “wired” us to value scarce commodities.

[BTC Drew⚡🟠 @btcdrew]

Myers’ thesis ties human evolution to Bitcoin’s rise, suggesting our love for scarcity defines us. This interdisciplinary view challenges anthropology, economics, and neuroscience to rethink our past and future.

[BTC Drew⚡🟠 @btcdrew]

Shell beads weren’t just art, they were proto-money. Myers uses Austrian economics to show how these collectibles gained “inter-subjective value,” becoming a store-of-value and medium-of-exchange, enabling wealth transfer.

[BTC Drew⚡🟠 @btcdrew]

Homo sapiens sapiens collected seashells for jewelry as early as 142,000 BP, unlike Neanderthals. Why covet these “useless” items? This as evidence of us valuing scarcity, a behavior that set us apart.