From my perspective people can sense the shift underway but are either too scared or distracted to take the time to understand it. The thing we should fear most is fear itself. The jump over to the new system was once a leap, it is now (practically) a hop and soon will be a small step. But the fear narrows our perspective and it’s hard to recognize how small a step it has become. Jordi you are a mensch for helping see clearly toward taking that step. Thank you.
Couldn't have said it better. Sent these instructions of Bitcoin reasoning to people who are about to cross the line but too scared to jump. The people who are the most exposed are the ones who are most hesistant describes the problems of instituisionalism and government lobbying. They aren't scared or lack financial knowledge, they are simply just comsfortable with the world built by the industrial revolution.
Wow Jordi, this is such a great insight. Living near Portland OR in 2020 and watching the non-sense of the pandemic and the V shaped recovery led me to spend a few minutes researching bitcoin. I'm in my 60s and it was as big of an epiphany as I ever had. However, in all my discussions with several very smart, accomplished people I'm always amazed at the responses I get to the negative. I guess it's true. Bitcoin finds you, but it finds different people at different times.
Jordi, great article and I agree with everything you said with one exception, and that's something you left out of the conversation: Quantum computing...
Once you believe in Bitcoin, you eventually see that the only real way this wins over the current system is through adoption; it would be more easily and more quickly and more certainly adopted if we believers could find a way for the masses to begin using Bitcoin as a daily means of transaction...either directly or indirectly...with or without fiat. Then adoption would feed adoption.
Jordi, I love everything you put out. I latch on to all of your content to understand the fiscal world around me. I love Bitcoin. The only thing I would offer is that BTC has become a store of value that can't scale with AI and that all technology throughout history has been improved upon. Give me room to explain, please. The characteristics of BTC (POW, layer-1, open-sourced, secure, fair-launched, scarce, decentralized, commodity, etc) as essential to thrive as I understand you and what I've learned. In addition, the Treasury isn't going away any time soon and they need to sell their debt to stable coin companies (potentially trillions of dollars worth), as you've alluded to. These stable coins can't exist on a layer-1 BTC network at 1 block per 10 min. There is a POW coin that is BTC in that it is a layer-1, POW, secure, fair-launched, open-sourced, decentralized, yet scalable at 10 blocks per second. Multiple entities (that are not core developers-yes, this is the only difference than BTC) are working on building smart contracts for stable coins and are demonstrating success. With AI needing to achieve settlement at internet speeds, his coin will satisfy the issue of being unable to scale with BTC's block speed issues and mantras like, "never sell your Bitcoin". You've sighted Jeff Booth as being instrumental in your growth and he is a strong advocate that BTC can't be used as a store of value for obvious reasons. This coin is Kaspa. Regardless of how you feel about a digital economy of only BTC and stable coins (often the argument I hear is that BTC and stable coins are all that is needed), there is no secure blockchain that can scale for stable coins (ETH is centralized, slow, and expensive, SOL is centralized and has outages regularly, TRON is centralized and subsidizes their gas fees for users, etc). Kaspa solves all this. I realized I am a stranger on the internet, but would encourage you to study Kaspa and wrestle with it. I would love to have a more in depth conversation around these ideas if you're interested. There is room in the future digital economy for a store of value and transactional network that can scale to support stable coins. A proverbial digital gold and digital silver, if you will. For this reason, I buy both every week. Thanks for all you do. God speed.
It’s up 38,000% all time. If you want to debate charts, although I think it’s unwise to assess the merits of a technology based on its chart, we certainly can.
So you’re saying BTC never drew down 70% from ATH? What’s your point? Are we arguing first principles or looking at charts? There’s a finite number of Kaspa and Bitcoin and an infinite number of dollars. I have nothing to pump.
kids, this is a community of thinkers and people who understand that all views are on the distribution of potential outcomes. No need to turn this into a WWE event in Vegas. I will say Cody, your line about scaling with AI misses greatly the point of my post. In the end, if you follow my work, BTC is the S&P 500 of the digital economy where NO innovations can scale with AI. That is the point. The only thing that survives exponential change is the thing that has no innovation. Everything else is worthless eventually. I could be very wrong but that is my view as of today now everyone place nice.
I will have to study up on Kaspa. Not aware of it. But some of your concerns about SOL are outdated. It has grown much more stable and much more decentralized. I’m sure just typing this will get the “shit-coiner” response, but there is no doubt that stable coins are a requirement. No one in their right mind would ever transact their daily business in BTC. It’s just too valuable and too volatile, not to mention all the tax implications. I think there will be all kinds of different stable coins on different chains, especially when the Federal stablecoin law gets passed.
Everywhere I try and learn, I get that response. Kaspa is POW. Solona is not. Solona is a company and centralized. Kaspa is a scarce commodity- like BTC. Kaspa’s block speed is 10 blocks per second where as Solona’s block speed is 2.5 blocks per second.
Less than half of Solona’s supply was for public sale. Kaspa was fair launched. Staking yield on SOL comes from? Nobody knows. Kaspa is tracking real world electricity and work and putting it on a blockchain (or blockDAG in this case).
I have attempted to use Solona as recent as last year and had multiple failed transactions. I have never had a failed transaction with Kaspa.
I hope you are well. I am happy to keep reading your stuff. Thank you.
I still have a gap. I am not sure I have missed any of your other articles but I am catching up. I'll continue where we left it with our previous exchange:
Also this: "Bitcoin, on the other hand, is untethered. It doesn’t rely on trust in any government, company, or bank. It simply exists, verifiable and immutable"
So my gap is the following:
Question 1: If you own bitcoin, then, are you not relying on trust in:
1. A group of people - Trusting the bitcoin protocol governance, no?
2. Society and the law - farfetched or not we live in a society with many social constructs. We rely on people and the government that provide us with:
2.a Internet
2.b Electricity
Question 2: Do you reject the need for minting more bitcoins (beyond 21M) if there is more demand, say if population is increasing (the quantity can be tethered to the number of people employed)? How do you think about that? How do you reconcile that? IMHO, the fixed quantity is an issue to become a medium of exchange. If you see it as an asset, then I agree and see no issue - scarcity at play.
Great job of pulling this together, articulating the challenges and showing how BTC provides the offramp and onramp going forward. First time I've heard the term Economic Trilemma and how these 3 macro factors are contributing to our system imbalance. Agree it's important to understand that BTC isn't just a digital store of value but also a base layer protocol for the future.
From my perspective people can sense the shift underway but are either too scared or distracted to take the time to understand it. The thing we should fear most is fear itself. The jump over to the new system was once a leap, it is now (practically) a hop and soon will be a small step. But the fear narrows our perspective and it’s hard to recognize how small a step it has become. Jordi you are a mensch for helping see clearly toward taking that step. Thank you.
Couldn't have said it better. Sent these instructions of Bitcoin reasoning to people who are about to cross the line but too scared to jump. The people who are the most exposed are the ones who are most hesistant describes the problems of instituisionalism and government lobbying. They aren't scared or lack financial knowledge, they are simply just comsfortable with the world built by the industrial revolution.
Thanks Jordi.
Really appreciate your clarity and vision.
Keep up the great work.
Killing it with these posts. Brilliant uncomplicated explanations.
Wow Jordi, this is such a great insight. Living near Portland OR in 2020 and watching the non-sense of the pandemic and the V shaped recovery led me to spend a few minutes researching bitcoin. I'm in my 60s and it was as big of an epiphany as I ever had. However, in all my discussions with several very smart, accomplished people I'm always amazed at the responses I get to the negative. I guess it's true. Bitcoin finds you, but it finds different people at different times.
Jordi often talks about the five courses in python that he took to up skill. Does anyone know what these courses were?
Jordi, great article and I agree with everything you said with one exception, and that's something you left out of the conversation: Quantum computing...
Quantum is no threat to Bitcoin now , it could be at some stage but Bitcoin will evolve also and counter any threats.
Awesome read! When you see it, you can’t unsee it.
Once you believe in Bitcoin, you eventually see that the only real way this wins over the current system is through adoption; it would be more easily and more quickly and more certainly adopted if we believers could find a way for the masses to begin using Bitcoin as a daily means of transaction...either directly or indirectly...with or without fiat. Then adoption would feed adoption.
The driver of that will be retail business owners who understand bitcoin and start making it convenient to pay with bitcoin.
Jordi, I love everything you put out. I latch on to all of your content to understand the fiscal world around me. I love Bitcoin. The only thing I would offer is that BTC has become a store of value that can't scale with AI and that all technology throughout history has been improved upon. Give me room to explain, please. The characteristics of BTC (POW, layer-1, open-sourced, secure, fair-launched, scarce, decentralized, commodity, etc) as essential to thrive as I understand you and what I've learned. In addition, the Treasury isn't going away any time soon and they need to sell their debt to stable coin companies (potentially trillions of dollars worth), as you've alluded to. These stable coins can't exist on a layer-1 BTC network at 1 block per 10 min. There is a POW coin that is BTC in that it is a layer-1, POW, secure, fair-launched, open-sourced, decentralized, yet scalable at 10 blocks per second. Multiple entities (that are not core developers-yes, this is the only difference than BTC) are working on building smart contracts for stable coins and are demonstrating success. With AI needing to achieve settlement at internet speeds, his coin will satisfy the issue of being unable to scale with BTC's block speed issues and mantras like, "never sell your Bitcoin". You've sighted Jeff Booth as being instrumental in your growth and he is a strong advocate that BTC can't be used as a store of value for obvious reasons. This coin is Kaspa. Regardless of how you feel about a digital economy of only BTC and stable coins (often the argument I hear is that BTC and stable coins are all that is needed), there is no secure blockchain that can scale for stable coins (ETH is centralized, slow, and expensive, SOL is centralized and has outages regularly, TRON is centralized and subsidizes their gas fees for users, etc). Kaspa solves all this. I realized I am a stranger on the internet, but would encourage you to study Kaspa and wrestle with it. I would love to have a more in depth conversation around these ideas if you're interested. There is room in the future digital economy for a store of value and transactional network that can scale to support stable coins. A proverbial digital gold and digital silver, if you will. For this reason, I buy both every week. Thanks for all you do. God speed.
Warning... This guy is a shitcoiner
This is what the closed minded say every time. They never provide an argument against the sentiment, they only throw names out.
Your coin is down 70% the last year, those must be some heavy bags you got to pump
It’s up 38,000% all time. If you want to debate charts, although I think it’s unwise to assess the merits of a technology based on its chart, we certainly can.
So you’re saying BTC never drew down 70% from ATH? What’s your point? Are we arguing first principles or looking at charts? There’s a finite number of Kaspa and Bitcoin and an infinite number of dollars. I have nothing to pump.
kids, this is a community of thinkers and people who understand that all views are on the distribution of potential outcomes. No need to turn this into a WWE event in Vegas. I will say Cody, your line about scaling with AI misses greatly the point of my post. In the end, if you follow my work, BTC is the S&P 500 of the digital economy where NO innovations can scale with AI. That is the point. The only thing that survives exponential change is the thing that has no innovation. Everything else is worthless eventually. I could be very wrong but that is my view as of today now everyone place nice.
I will have to study up on Kaspa. Not aware of it. But some of your concerns about SOL are outdated. It has grown much more stable and much more decentralized. I’m sure just typing this will get the “shit-coiner” response, but there is no doubt that stable coins are a requirement. No one in their right mind would ever transact their daily business in BTC. It’s just too valuable and too volatile, not to mention all the tax implications. I think there will be all kinds of different stable coins on different chains, especially when the Federal stablecoin law gets passed.
Everywhere I try and learn, I get that response. Kaspa is POW. Solona is not. Solona is a company and centralized. Kaspa is a scarce commodity- like BTC. Kaspa’s block speed is 10 blocks per second where as Solona’s block speed is 2.5 blocks per second.
Less than half of Solona’s supply was for public sale. Kaspa was fair launched. Staking yield on SOL comes from? Nobody knows. Kaspa is tracking real world electricity and work and putting it on a blockchain (or blockDAG in this case).
I have attempted to use Solona as recent as last year and had multiple failed transactions. I have never had a failed transaction with Kaspa.
Bitbonds are the answer to the National debt
Sure, but that still requires stable coins.
Hi Jordi.
I hope you are well. I am happy to keep reading your stuff. Thank you.
I still have a gap. I am not sure I have missed any of your other articles but I am catching up. I'll continue where we left it with our previous exchange:
https://visserlabs.substack.com/p/bitcoin-the-keyser-soze-of-traditional/comment/88725257
Also this: "Bitcoin, on the other hand, is untethered. It doesn’t rely on trust in any government, company, or bank. It simply exists, verifiable and immutable"
So my gap is the following:
Question 1: If you own bitcoin, then, are you not relying on trust in:
1. A group of people - Trusting the bitcoin protocol governance, no?
2. Society and the law - farfetched or not we live in a society with many social constructs. We rely on people and the government that provide us with:
2.a Internet
2.b Electricity
Question 2: Do you reject the need for minting more bitcoins (beyond 21M) if there is more demand, say if population is increasing (the quantity can be tethered to the number of people employed)? How do you think about that? How do you reconcile that? IMHO, the fixed quantity is an issue to become a medium of exchange. If you see it as an asset, then I agree and see no issue - scarcity at play.
Great Article. I really enjoy these if that's worth anything.
Awesome post and food for thought!
Awesome article Jordi!
You fools forgot to buy your bitcoin. Every single person will buy their bitcoin at the price. They deserve……
Great job of pulling this together, articulating the challenges and showing how BTC provides the offramp and onramp going forward. First time I've heard the term Economic Trilemma and how these 3 macro factors are contributing to our system imbalance. Agree it's important to understand that BTC isn't just a digital store of value but also a base layer protocol for the future.