1/4 For all of those asking why #Bitcoin and other memes, alt coins, etc. are skyrocketing higher📈, the @federalreserve is currently doing de facto QE by letting the excess 💸 they printed 2020-21 that was sitting dormant in the RRP account to buy @SecYellen's bonds. Yes,...
People are eventually going to realize that @mongs_nft are worth a lot more than $200.
Once retail figures out MONGs origin story, that floor price will sky rocket. This ain’t an ordinary meme.
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.
When you buy $10,000 of the NASDAQ 100 $QQQ here's how much of the largest stocks you're buying
$1,097 of Apple $AAPL
$1,024 of Microsoft $MSFT
$606 of Google $GOOGL
$519 of Amazon $AMZN
$419 of Nvidia $NVDA
$378 of Facebook $META
$308 of Broadcom $AVGO
$275 of Tesla $TSLA
$219 of Costco $COST
$211 of Adobe $ADBE
$200 of Pepsi $PEP
$189 of Cisco $CSCO
$161 of Netflix $NFLX
$152 of T-Mobile $TMUS
$145 of Comcast $CMCSA
$136 of $AMD
$130 of Amgen $AMGN
$123 of Intel $INTC
$121 of Intuit $INTU
$118 of Texas Instruments $TXN
$106 of Qualcomm $QCOM
$105 of Honeywell $HON
$99 of Applied Materials $AMAT
$96 of Starbucks $SBUX
$88 of Booking $BKNG
$88 of Gilead $GILD
$84 of Vertex $VRTX
$82 of Intuitive Surgical $ISRG
$81 of $ADP
$81 of Mondelez $MDLZ
$76 of Regeneron $REGN
$72 of Analog Devices $ADI
$70 of Lam Research $LRCX
$65 of Palo Alto $PANW
$64 of Micron $MU
$63 of Pinduoduo $PDD
$62 of Synopsys $SNPS
$56 of $KLAC
$56 of Cadence $CDNS
$56 of Charter $CHTR
$54 of $CSX
$53 of MercadoLibre $MELI
$51 of PayPal $PYPL
$50 of Marriott $MAR
$50 of O'Reilly $ORLY
$47 of Monster $MNST
$46 of $ASML
$46 of Cintas $CTAS
$44 of Airbnb $ABNB
The body of the economy is now ridden with cancer after being exposed to radiation from QE for over 10 years. Inflation is the natural next step (death) and the only hope is Chemotherapy (Monetary tightening). The problem is, the Fed is too late, organs are already failing...
If a bailout doesn’t come for SVB we will know this was PURELY an attack on crypto
They knew USDC relied on SVB & crypto on USDC
Rumors are Dimon (JP Morgan) helped cause the panic
FDIC now blocking acquisition? (Rumors)
This was a “fully regulated” rugs, mafia style
Let’s not pretend being locked in a cage with such sharks (aka regulation) makes us safer
Today marks 1 year since @BradSherman’s viral anti-crypto speech on the House floor that brought degens from all walks of life to gather and fight for a crypto revolution.
If you are one of those degens, please interact with this tweet. Let’s unite once again. $MONG @mongs_nft
Looks like the community has made a third $10,000 contribution to Hope of the Valley. Thank you @Mong_Songs !And thanks to a community that has provided $30,000 this season. We call it the holiday season, but for the homeless, it's the coldest season.
I may not agree with everyone in the crypto community, or the emerging mongoose community, on each aspect of financial services regulation. But all of us are united in our concern for the people of Kentucky. (1/2)