The Question Nobody Asked Michael Saylor Before
Here’s his answer.
“WHAT DID YOU DO TO MAKE THE WORLD A BETTER PLACE?”
CENSORSHIP RESISTANT
PROOF OF WORK WINS
DECENTRALIZED
2/24/23 #Bitcoin just hit the highest price in 510 days!
A new bull is coming to Wall Street. #Bitcoin
My 11-minute summary of the essence of money, the problem of inflation, the paradox of investing, and the brilliance of #Bitcoin.
CFTC Commissioner Summer Mersinger says “the market is ready” for a spot #Bitcoin ETF.
@stackhodler You haven’t met the real #Bitcoin yet.
93% of its supply has been issued over the past 14 years.
What you think of as “Bitcoin” is what you have experienced as 93% of all Bitcoin that will ever exist was dumped onto the market.
But during the next 14 years, buyers will fight over new issuance that is a mere 6% of the total supply.
And after that? Less than .5% of new supply will remain.
Bitcoin’s true scarcity hasn’t even kicked in yet.
What happens early next year when it becomes the hardest money that humanity has ever known?
And what about when understanding of this new monetary technology grows at the same time new issuance goes from a flood to a trickle?
People are terrible at projecting into the future.
They don’t understand just how rare 1 #Bitcoin is.
There will come a time when all the mining power in the world won’t even produce a single Bitcoin in a year.
There are 60 million millionaires in the world.
If BTC were evenly spread amongst them, they could each have .35 BTC max.
Except ~5 million BTC are already lost forever…
Which means .26 BTC max per fiat millionaire.
And that’s forgetting the corporations, insurance funds, pension funds, sovereign wealth funds, and nation states that will permanently remove millions of BTC from the market.
It’s also assuming that current individual holders who refused to sell despite years of ridicule will suddenly decide to trade their entire stack for fiat.
Bottom line: Bitcoin is ridiculously scarce.
Even 0.1 BTC will be considered a fortune one day.
But by then you won’t measure its value in infinite fiat.
People will just intuitively understand how abundant everything else is relative to BTC.
And all goods will be priced accordingly.
Pricing Bitcoin in infinite fiat will one day seem as ridiculous as pricing an ounce of gold in Wampum.
1/5 The iSHARES Bitcoin ETF S-1 is stunning reading.
I don’t know any SEC or CFTC regulated exchanges or clearinghouses today that run, or are allowed to run, their own prime brokerage business that can trade their own book against their clients. Coinbase will be allowed? $COIN
https://twitter.com/CallSpread/status/1716671920551145765
Oh look, Bitfinex’ed is in a Bitcoin ETF Filing.
Yeah, the Bitcoin Spot ETF is getting denied.
https://twitter.com/Bitfinexed/status/1716682229223473295
https://www.sec.gov/Archives/edgar/data/1980994/000143774923028549/bit20231017_s1a.htm