Here’s how Polish fans celebrate their club’s victory.
Before leaving the square, they cleaned up after themselves. No one was beaten up or raped.
Be Like Poland.
Back in late 2020, I spoke with Michael Saylor and asked him why Bitcoin destroys every other store of value.
His answer will change how you think about money forever:
There is $250 trillion in global assets and every single one of them has the same fundamental problem when you look closely enough.
Your real estate is immobile, illiquid, and taxed annually without exception and half of all commercial real estate is structurally impaired from COVID with at least a decade of uncertainty still ahead.
Your bonds only work when interest rates keep falling and that game has a mathematical floor because the moment rates go negative everyone pulls their money out simultaneously and the entire mechanism that made bonds attractive for four decades inverts overnight.
Your equities get taxed at every single layer of existence:
> revenue gets taxed as sales tax
> cash flows get taxed as income tax
> expenses get taxed as payroll tax
> trade gets taxed as tariffs
(plus regulatory risk sits on top of all of it)
And when the price rises by a factor of ten it does not become safer, it becomes more dangerous because it is delaminating from its fundamentals and any disappointment from that point causes catastrophic volatility.
Here is what most people never understand about money:
Every traditional store of value you own is a vertebrate and if you are a vertebrate you can be killed with a needle because there is a headquarters, a jurisdiction, a regulator, a court that can reach in and end it.
Bitcoin is a swarm of hornets with no headquarters to raid, no jurisdiction to exploit, no CEO to arrest, and no regulatory throat to cut because there is no throat.
Your money should be a single celled organism, the base layer of the ecosystem, not a vertebrate with a backbone that can be decapitated the moment it becomes inconvenient to the wrong government.
Bitcoin is the only asset that structurally solves the problem every other asset you own creates:
If we can't be taxed on unrealized gains, why the fuck are we being taxed on the new increased valuation of our home without selling it?
THAT'S UNREALIZED GAINS!
Coming to the conclusion that there is nothing you can do to convince a socialist that their ideas are terrible. Nothing.
Not once have I changed a persons mind. They cannot grasp economic facts or incentives. Their brains are skewed towards vibes and envy.
Sad reality is that if they’re on this journey then they have to see the conclusion. Even sadder reality is that they will drag so many others into this decline.
We did this to ourselves.