Paul Storey

Entrepreneur

[Paul Storey @pwstorey]

Investing in property will NOT generate wealth!

I’ve run a property business for 10 years and I always thought it was the best way to generate wealth.

Here’s why I have changed my mind…

…🧵 👇

[The ₿itcoin Collective @BitcoinColl]

🏠 Everyone knows house prices always go up... But do they really?

Measured in pounds, yes. UK homes cost multiples of what they did twenty years ago. But measure the same house in Bitcoin and it gets cheaper every year.

What looks like a rising asset is often just a shrinking currency.

Choose your measuring stick wisely 🧠

[Paul Storey @pwstorey]

@BGatesIsaPyscho @SimonDixonTwitt thoughts?

[Paul Storey @pwstorey]

@apsk32 @hillery_dan Volatility isn’t just about how high the tops are. Crashing prices can have high vol. Rangebound prices can also have high vol if they bounce around a lot within a range.

[Paul Storey @pwstorey]

@saylor Was that a “Steve Jobs announcing the iPhone” moment in history?

[Paul Storey @pwstorey]

@Losrafascartel1 @robprogressive The post doesn’t mention any disabled children at all.
The post clearly states the criteria in this example family with three children.
The source is: Adam Smith Insitute

[Paul Storey @pwstorey]

@GuyTalksFinance @TheBTCTherapist Is that $2 million dollar watches or 2x $1m dollar watches. 🤣
Either way seems a little excessive…

[Paul Storey @pwstorey]

@Losrafascartel1 @robprogressive You didn’t read the post.

[Lee Anderson MP @LeeAndersonMP_]

A Benefit Scandal.

A family with three children living in Tower Hamlets can be eligible to claim over £82k a year in benefits! Almost double the gross household income in the UK!

Both parents out of work and not looking for work, both claiming to be carers, both receiving PIP for back injuries, both non-UK nationals that haven't worked and paid NI for more than 6 months in the last 2 years, one child diagnosed with ADHD.

They are eligible to claim UC, PIP, Carer’s Allowance, Child Benefit, Council Tax Support and more…

This isn’t a one off hypothetical example. Countless families are out of work not looking for employment while hardworking taxpayers foot their bills and lifestyles.

Do you think this is fair, do you make more than £80k a year?

Source Adam Smith Insitute.

[Paul Storey @pwstorey]

@PeterMcCormack This isn’t a new thing, it’s just accelerated since covid up a gear…

[Paul Storey @pwstorey]

@BillyBoone32 …and prevents one from becoming a “forever renter” beholden to large multinational institutional landlords.

[Paul Storey @pwstorey]

I see a lot of this trail of thought in my feed. My take would be:

AI causes mass unemployment
90% of population living on UBI
Governments pay UBI with CBDCs under full government spending control
CBDC do not permit the purchase of assets (like bitcoin)
Recipients of UBI are unable to escape
Fiat inflation soars
The 10% still employed and earning fiat are in a race to acquire as many hard assets (like bitcoin) as they can to secure their future and family’s legacy

[Joe Nakamoto ⚡️ @JoeNakamoto]

i keep coming back to this thought:

AI and LLMs boom
AI wipes out 90% of office jobs
Huge unemployment spike
Bitcoin tanks
Governments print extraordinary amounts of money
Bitcoin rockets as society frays

It's such a strange future

[Paul Storey @pwstorey]

From a legal ownership perspective this is really encouraging.
However, look at the tax structures around “property”, stamp duty on purchase, capital gains tax on sale, additional +2% tax on “unearned” income.
This may allow bitcoin as a store of value (like investment property has been) but doesnt bode well for bitcoin as money.

[Bitcoin Magazine @BitcoinMagazine]

Fiat is monopoly money.

[Paul Storey @pwstorey]

@BitcoinColl I couldn’t make it. Were any of the talks recorded?

[Paul Storey @pwstorey]

@moore_martin @robprogressive @grok is the office of budget responsibility (OBR) “nothing” to do with the government?

[Paul Storey @pwstorey]

@coyfgreeeens @robprogressive @grok is the OBR a government agency, analogous to the government agency that might be tasked with running the digital ID system?

[Paul Storey @pwstorey]

@TheBTCTherapist Exit liquidity

[Paul Storey @pwstorey]

@SimonDixonTwitt Interested to hear your thoughts on KYC as an attack vector for confiscation.

[Paul Storey @pwstorey]

@COLDCARDwallet What’s the best way to purchase in the UK?

[Paul Storey @pwstorey]

@KwasiStackBTCTC What do you think is the likelihood and timescale for the UK government to remove CGT from bitcoin?