dggoat

Ask me about #Bitcoin

[dggoat @dgg0at]

🧵 on my #Bitcoin journey:

I’ve made many mistakes since entering the crypto space in 2021. I bought into multiple shitcoins, got sucked into the NFT craze, almost took a low paying job at a crypto marketing firm and have lost thousands on my investments.

[River @River]

A gold bar bathing the first bitcoin in 2009.

17 years later, they are set to face off for the world reserve asset.

[dggoat @dgg0at]

@michelleefang Yes please! Have wanted to try Claude out instead of Gemini/Chat

[dggoat @dgg0at]

@LizardWizardBTC Hey man! So weird, I live in Seattle too and am just started a 2 month leave from my tech job too and am planning to put a ton of my energy into Bitcoin! Would love to chat more!

[dggoat @dgg0at]

@AutisticHODL @IIICapital I keep debating this. Live off some of the stack in the short term and know within 5-10 years the rest will appreciate enough to get me to the finish line

[dggoat @dgg0at]

@AnthonyDessauer Let’s gooooo #BuyWallChain

[Balaji @balajis]

THE PURPOSE OF BITCOIN

The purpose of Bitcoin is to shatter the welfare/warfare state and return power to the people.

Yes, you can understand it as technological innovation — as a better way to hold and send large amounts of money — but at its core it is political revolution.

It stops both Putin's war machine and Powell's money printer. It defunds the secret police and the NGOs calling for defunding the police. It rewards places that attract skilled immigrants and punishes those that cannot protect property rights.

It does all this by breaking the 20th century centralized state's business model, by breaking both the wealth seizure of Communism and the money printer of Keynesianism. Because Bitcoin is money that can't be seized and monetary policy that can't be manipulated.

So, think of Bitcoin as the ultimate zero-based budgeting. It zeros out everything that centralized states spend money on. It ends the wars and starves the beast. And then, it allows free people to decide from scratch what collectives they want to form, what public goods they want to crowdfund, and what they want to voluntarily do together as a society.

In a word, it restores consensual government. You just don't do what you have not consented to do.

Because Bitcoin reverses several centuries of power centralization in a few decades of decentralization. It fuses the egalitarian global government of the internationalist left with the limited local government of the capitalist right. It does this by transferring sovereignty from each centralized local state to a decentralized global network, where the collective of Bitcoin holders act as the ultimate bond vigilantes, the ultimate international union, the ultimate government of governments.

And DC's declining "rules-based order" cannot match the legitimacy of this ascending Internet opt-in order. We already see tens of millions of Americans and Chinese alike voting against both Democrats and Communists by voting with their wallet for Bitcoin. Their states may be gearing for pointless war, but on the network these two great nations are at peace. Bitcoin Americans may not trust the Chinese state, and Bitcoin Chinese may not trust the American state, but neither of them trust their own states as much as they trust Bitcoin's network.

Trustworthy states, of course, have nothing to fear. If you have popular legitimacy you need not fear capital flight. And already we see early adopter states for Bitcoin, from Bukele to Bhutan. Early adoption serves as a political IQ test — small and smart governments can pull it off, while big and dumb states simply will not.

So big, dumb states will be hardest hit. And they will hit back. Just like they went from calling social media unimportant to assailing it as too important, so too will they go from questioning whether Bitcoin has any utility to calling it too powerful to leave in the hands of the citizenry. And then the attempts at seizure will begin.

The explicit use of state force will unify left- and right-libertarians against neocons and neolibs, shattering and remaking the political compass. That's likely to begin after this cycle. And it'll be a fight that will make 2016-2024 look like the good old days.

But at least we'll all know that Bitcoin has a purpose.

[dggoat @dgg0at]

I’m not the most technically savvy and still have more to learn about #Bitcoin, so ELI5:

As the Bitcoin network grows, transaction fees will increase as well.

Does there inevitably come a point where all plebs are priced out of transacting on the base layer?

[dggoat @dgg0at]

Told my normie friend that #Bitcoin is up 160% YTD and he said “Wow, I feel like no one really talks about it anymore.”

We’re still early!

[dggoat @dgg0at]

This meme has helped a lot of my normie friends better understand the value prop of #Bitcoin Definitely recommend sharing this when trying to orange pill someone

[BRITISH HODL ❤️‍🔥🐂❤️‍🔥 @BritishHodl]

This is the S&P 500 priced in total US M3.

There have been NO real positive returns on the S&P 500 since the Dot Com Bubble if you are accounting for debasement.

Price of Wealth:🆙
Value of Wealth:🔻

Fiat gains THIS MILLENNIUM have been an illusion.

That's why we #Bitcoin.

[dggoat @dgg0at]

I think there’s an opportunity for better beginner #Bitcoin education for pre-coiners.

What is some of the best basic Bitcoin content you’ve shared to Orange pill friends/family?

[dggoat @dgg0at]

There's a reason the existing power structure wants you to believe that #Bitcoin is worthless. Bitcoin is a better alternative to their system, and they maintain their power through their control of our money and time.

Educate yourself and take back your financial freedom.

[dggoat @dgg0at]

Given Senator Warren's recent comment that "With Bitcoin, there's nothing that backs it up. It's just belief.", let's review how #Bitcoin solves multiple problems with the traditional financial system.

🧵👇

[dggoat @dgg0at]

6. Privacy: Traditional financial systems are not always private, as governments and institutions likely have access to personal financial information.

#Bitcoin transactions are generally more private, as they do not require the disclosure of personal information.

[dggoat @dgg0at]

My GF: What are you going to do if #Bitcoin fails?

The irony of asking this when fiat banks are literally failing right now 🧐