Physical money fights an intrinsic, losing battle against entropy.
Its shell erodes through space.
Its energy decays over time.
Currency, physical and digital, is more durable.
Its shell is perfectly preserved.
Yet, its energy still decays.
New units suck out energy from old.
Digital money is absolutely durable.
Its shell does not erode nor does its energy decay.
Entropy fortifies its shell.
Time flourishes its energy.
Fragility fails.
Resilience resists.
Antifragility thrives.
#Bitcoin is durably transferred through space and time.
₿ona fide.
#GetOffZero
#TheLastMoney
#StudyBitcoin
#Bitcoin is the first credible, perfectly scarce, and arbitrarily-high divisible money.
Fiat is [0, ∞]. Unbounded supply.
Bitcoin is [0, ~21M]. Unbounded precision.
Continuous infinitesimal value streams.
Sporadic astronomical value settlements.
The Bitcoin protocol is only aware of the satoshi.
The Lightning Network protocol is only aware of the millisatoshi.
Measly sub-bitcoin fraction owners are satoshi-millionaires and millisatoshi-billionaires.
Measurement scales will be redefined to satisfy any unit of account.
Without inflation.
Our descendants will settle in femtosatoshi.
₿ona fide.
#GetOffZero
#TheLastMoney
#StudyBitcoin
Fiat currency is imposed through Proof of Force. Top-down.
Money is emergent technology. Bottom-up.
It is a by-product of the necessity to solve the double coincidence of wants.
I require something you want.
You require something I want.
This must align perfectly in space, time, and scale.
Barter converged naturally, gradually, and without arrangement onto highly saleable assets on one side of every trade.
Nothing can be sold more trivially, at fair value, than money itself.
It is universally craved - boundless in space, time, and scale.
It is the most liquid asset.
The following monetary properties reduce trade friction:
- Divisibility,
- durability,
- fungibility,
- scarcity,
- transferability, and
- verifiability.
Necessary - they ain't sufficient.
Their credibility is crucial.
#Bitcoin's extrinsic value stems from your subjective judgment of:
(1) its objective monetary properties, and
(2) the credibility of those properties.
The more credible the money - the more efficient the market economy.
₿ona fide.
#GetOffZero
#TheLastMoney
#StudyBitcoin
Double Coincidence of Wants
https://t.co/BnkVOaNhIW
The Origin of Money
https://t.co/tPuWhm3CUq
Credibility of Monetary Properties
https://t.co/OMQ7wmbLB9
Fiat currency is imposed through Proof of Force. Top-down.
Money is emergent technology. Bottom-up.
It is a by-product of the necessity to solve the double coincidence of wants.
I require something you want.
You require something I want.
This must align perfectly in space, time, and scale.
Barter converged naturally, gradually, and without arrangement onto highly saleable assets on one side of every trade.
Nothing can be sold more trivially, at fair value, than money itself.
It is universally craved - boundless in space, time, and scale.
It is the most liquid asset.
The following monetary properties reduce trade friction:
- Divisibility,
- durability,
- fungibility,
- scarcity,
- transferability, and
- verifiability.
Necessary - they ain't sufficient.
Their credibility is crucial.
#Bitcoin's extrinsic value stems from your subjective judgment of:
(1) its objective monetary properties, and
(2) the credibility of those properties.
The more credible the money - the more efficient the market economy.
₿ona fide.
#GetOffZero
#TheLastMoney
#StudyBitcoin
#Bitcoin has no intrinsic value. So does everything. Drop that shibboleth.
Value is a subjective judgement over an asset's objective qualities.
You. Lost in the desert. Thirsty.
The next marginal unit of water has tremendous value.
You. Oriented in the city. Satiated.
The next marginal unit of water has infinitesimal value.
The value of the next marginal unit of an asset tends to zero.
Intrinsic lower bounds do not exist.
Market economies are impossible under objective valuation.
They require voluntary "win-win"-exchanges.
I value your asset more than mine.
You value my asset more than yours.
We both subjectively won at the trade.
No one lost, yet, it cost each of us an opportunity.
Value is not intrinsic to things.
It is extrinsic, conferred by minds.
₿ona fide.
#GetOffZero
#TheLastMoney
#StudyBitcoin
The Subjective Theory of Value
https://t.co/wvScvmT39e
Law of Diminishing Marginal Utility
https://t.co/Tvuua9VjN4
Opportunity Cost
https://t.co/kekanoland
#Bitcoin has no intrinsic value. So does everything. Drop that shibboleth.
Value is a subjective judgement over an asset's objective qualities.
You. Lost in the desert. Thirsty.
The next marginal unit of water has tremendous value.
You. Oriented in the city. Satiated.
The next marginal unit of water has infinitesimal value.
The value of the next marginal unit of an asset tends to zero.
Intrinsic lower bounds do not exist.
Market economies are impossible under objective valuation.
They require voluntary "win-win"-exchanges.
I value your asset more than mine.
You value my asset more than yours.
We both subjectively won at the trade.
No one lost, yet, it cost each of us an opportunity.
Value is not intrinsic to things.
It is extrinsic, conferred by minds.
₿ona fide.
#GetOffZero
#TheLastMoney
#StudyBitcoin
For years I refused. Finally, I bent the knee. ₿race yourself.
I shall not be "thrilled".
I shall not copy-paste AI-generated slop.
What I shall do is provide you with the content necessary to convince yourself to #GetOffZero#Bitcoin.
The only buzzword I shall leverage is "leverage".
My content shall be dense. You are here to think.
The medium is the message, and the message shall be delivered.
Saving your generational wealth on a Bitcoin standard is common sense - not financial advice.
It is #TheLastMoney.
Yes, I am opinionated. And you should be too.
I shall not ask for your "Thoughts?". Challenge me.
₿ona fide.
#StudyBitcoin
For years I refused. Finally, I bent the knee. ₿race yourself.
I shall not be "thrilled".
I shall not copy-paste AI-generated slop.
What I shall do is provide you with the content necessary to convince yourself to #GetOffZero#Bitcoin.
The only buzzword I shall leverage is "leverage".
My content shall be dense. You are here to think.
The medium is the message, and the message shall be delivered.
Saving your generational wealth on a Bitcoin standard is common sense - not financial advice.
It is #TheLastMoney.
Yes, I am opinionated. And you should be too.
I shall not ask for your "Thoughts?". Challenge me.
₿ona fide.
#StudyBitcoin