1) Valuation of the banking sector: $7.3T
2) Valuation of inflation hedges (store of value assets): approx $500T
DeFi is competing for (1). Bitcoin is competing for (2).
With Brazil now experiencing double-digit inflation, we're now at more than 1.4 billion people on earth living under double, triple, or quadruple digit inflation:
-🇵🇰 226M
-🇧🇷 214M
-🇳🇬 213M
-🇪🇹 118M
-🇨🇩 93M
-🇮🇷 85M
-🇹🇷 84M
-🇦🇷 45M
-🇸🇩 43M
-🇺🇿 34M
-🇦🇴 34M
-🇬🇭 31M
-Rest of 🌍 213M
@neelkashkari Laser eyes proclaim a technology to guarantee the human rights of life, liberty, & property. Laser eyes channel action even as they protect from dilutive distraction. Laser eyes signal intent to make #Bitcoin
an instrument of economic empowerment.
So the really interesting thing about this tipping function is when the funds hit your Strike account it arrives as dollars. If you want to store it in Bitcoin you need to convert it back to BTC. @jackmallers point about Bitcoin the Network and Bitcoin the SoV is on full display.
Getting pretty fed up with the whole "on-chain is only bullish" misconception tbh. Anyone who says this doesn't understand how the analysis should be used.
- On-chain tracks macro trends, its use case is not to predict liquidation cascades. Look at derivatives data for that.
On August 15, 1971, President Nixon suspended the convertibility of the US dollar into gold, subjecting the American citizenry to an unprecedented and disastrous economic experiment.