Jul 24, 2019
Using Bitcoin to store value/time.
People who understand these 3 concepts can't help but buy Bitcoin if they want to save for the future.
1. Where we are in relation to history.
With debt being used to finance stuff for the last 106 years we (as a society) have gotten used to central control of our lives -- the scarcity of time makes time to be the most important. This time control not only reaches to people living in China and Russia but also in democratic societies. On the gold standard, time could be exchanged for gold and later redeemed for time at a one to one ratio. This was due to the scarcity aspect of gold (only 1.2% added every year).
2. How energy is related to value.
Quality of life is a factor of controlled energy consumption. This is why for last century we didn't see our store of time eroding. Technology has made many leaps in helping people save time; but to rely on technology rather than a sound forum of money is stupid.
3. Why is Bitcoin better that Gold as a store of value/time?
The main reason is you need an army to protect your gold whereas with Bitcoin you just need 24 key words memorised. Mind you, pain might get me to reveal my 24 words, but at least I don't have to worry about people stealing my money/time when I am not there to protect it. Bitcoin is the first liquid asset that humanity has created that is truly scarce. All resources (gold / silver) are not scarce they are a product of human time (time is human's only scarce resource). Every store of value/time we invented before Bitcoin can be diluted, whereas Bitcoin is based upon math and thereby halves every four years. In 300 days Bitcoin's inflation will be at 1.80% which will enable better price stability and more scarcity. Go ahead and listen to Saifedean Ammous and Trace Mayer talk and see if you can poke any holes in their arguments.
Posted by King Arthur