Since we do not have a Gold standard anyways for many years, why would you suggest that it would be next (digital) Gold standard?
Are you implying that we need a Gold standard in first place?
We need sound money. This time with Bitcoin. Read “The Bitcoin Standard” (Saifedean Ammous). Me, as a economy layman, I understood the book and it feels right.
Basically…
high vs low time preference
more vs less government
Keynesian/Monetarist vs Austrian School of economics
war vs peace
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Thanks for sharing. Interesting point of view.
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I suspect that for most BTC investors its 3) speculate but don’t invest for the very long term (which is ok).
The problem is with those investors that don’t admit it (as a hedge for their downside risk and to improve their upside) and the ones that don’t get it. For them, the journey can go terribly wrong.
As long as you know what you are doing, there is nothing wrong with speculating - but please don’t try to to pull in other people as this could go very wrong for them…
Personally, I am a no-coiner.
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2020 would have been pretty interesting without any central bank lever, I wonder how high unemployment would have gone up (likely high two digits percents).
I guess it’s part of the libertarian dream 
root cause of such are central banks and money printer (but again I’m to dumb to explain such stuff)
For full disclosure, I have <1% of my invested money is in Crypto (60% ETH and rest BTC). It was mainly for speculative reasons (a bit of FOMO too). I like ETH more as I think its use is a bit clearer to me (smart contracts) but still have no way to value it.
For me store of value does not matter much because i dont invest in gold anyways. So if it should behave like gold then I do not really see much interest versus equities.
The point i am most curious about is #2. I have a feeling that amidst the euphoria the underlying potential is getting lost a bit.
I‘m with @SwissTeslaBull
I use crypto to reach my FIRE goal.
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All together, you cannot separate them, it s part of what makes bitcoin unique. And the fact that bitcoin is permissionless, it is truly a “choose your own adventure”. Typically, I find trading super boring, so I am not part of the speculators, I prefer the technical part of things.
So which group is currently dreaming of the 300 trillions in debt globally? I think it’s the central banks yes, at least it’s not us libertarians.
You don’t really need to go into complex concepts to appreciate the blockchain. This weekend, Michael Saylor purchases $800m of Bitcoin… While literally all public and private institutions were closed. It’s mind blowing to me. BTW you can also do some levels of smart contracts with bitcoin, like simple multisig architecture, you don’t need a shitcoin like eth (it’s a scam).
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Yeah I see many applications of blockchains. But I believe there are multiple blockchains that are being developed.
Most likely what makes bitcoin unique is that it is first one and most likely the largest network. Not sure what is wrong with Ethereum? Why is that a scam?
What is so special about buying 800 million of bitcoin over weekend? If bitcoin market is open over weekends then one can buy it I guess
Maybe I am not getting the point. Could you elaborate?
Food for thought
NVDA market cap is bigger than bitcoin. It has outperformed (significantly) bitcoin since 2009. But also in whatever time frame we look at. NVDA is enabling AI development, Bitcoin is enabling blockchain development. Both are Revolutionary technologies. Most likely people don’t understand LLM models like they don’t understand Blockchain.
But no one is arguing or questioning about NVDA’s rise white Bitcoin discussion is always polarised.
I feel the difference is very deep rooted between centralised vs decentralised.
That’s the whole point, it is simply not possible outside of Bitcoin to transfer this amount of money when everything is closed, this a new use case.
Almost everything is wrong with Eth 
No certainty about the supply of coins (not even talking about the premined supply), about the future of the asset as a whole (they changed the rules so many times already, and check their roadmap, it is a nightmare), extremely difficult to audit, you can only participate if you are rich, the richer you are, the more power you have, etc.
I am not even talking about its centralised nature, I can’t remember which part of Eth runs on… AWS!!! Edit: just checked, 35% of eth nodes run on aws…
The uncertainty of eth vs. The certainty of Bitcoin is staggering. You can probably make money by trading it, but it is the biggest scam in the crypto world, by far.
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Very interesting. I would have never thought that Ethereum which is second largest cryptocurrency is considered as scam by some.
One learns something new everyday. I will have to read a bit more about it.
To be honest I don’t see anything special in this. I saw this on CNBC with Michael Slayer and was wondering what is the big deal. To me big deal was that he bought a huge quantity but not WHEN he bought. It’s like in some countries you can do shopping on Sunday and in some countries you can’t. This doesn’t mean it’s not possible , it’s just not part of the culture and norms and people work around it.
I doubt that it’s not possible to open stock exchange over the weekend. But it’s just not done and I am glad it is not People need to relax a bit
For example in Switzerland cash transfers outside of the bank don’t happen on weekends. In India , you can make money transfer whenever you want. Weekday , weekend doesn’t matter
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I can certainly find articles and discussions pointing to the AI hype as a bubble, which is my opinion too (there’s value in AI but most people think it can do things it can’t and there’s way more money flowing into it right now than it’s probably worth). It is also a huge consumer of energy for often dubious use (why one would use a LLM as a search engine, for example, is beyond me).
Example of article on The Motley Fool: Artificial Intelligence (AI) Stock Nvidia May Be the Bubble of the Century, and History Suggests It Won't End Well | The Motley Fool
Example of thread on Bogleheads: Dot.Com Era/AI Era? - Bogleheads.org
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What exactly is the use case here? Why does anyone ever need to transfer x mio. on Sunday evening?
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Need is the probably the not proper word. I remember a time where we were not able to buy a bread or milk after Saturday 4pm till Monday morning, because all shops where closed. Exception was this little robot machine in the ZH main station. Now, you can buy most things 24/7
Yes, I remember that time as well. In my opiniom that was a change for the worse having shops open 24/7.
In my opinion people should get some rest and calm their life instead of having everything available all the time. This phenomena also fortifies the preference of instant gratification over delayed gratification, which as we know is an important concept for FIRE (as well as many other areas in life). The constant availability of things quickly becomes addicting as it gives our mind the dopamine hits it craves and suddenly we get angry if something is not available 24/7, even though we don’t need it at all.
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Totally agree with what you are saying. I prefer to have the freedom to chose to slow down my life or not. Not to be guided by some well meant guidance of religion, commerce or politics. In this BTC is a rule breaker and not everybody, probably a majority will not like it, but can’t stopp this movement.
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