The trusted science of diminishing volatility and returns being confirmed doesn’t account for Keynesian financial terrorists blowing themselves up. Hyper intelligent and rational Bitcoiners discount this because they can’t fathom the level of degeneracy that exists in New York and London.
Food price inflation is already locked in to get silly late this year, early next year because of fertilizer shortages affecting the planting season right now. Governments will then be in a bind. The public will be outraged about food prices, but the government can’t print more food. They could do helicopter money, but that will only increase prices further. Biden era gaslighting about inflation is unlikely to work anymore.
We could be looking at a doom loop. It’s probably not an endgame trigger, but I’m partial to it being so because of its unexpected form. But don’t worry, #EverythingIsWeimar
It’s tone deaf to say the fiat price doesn’t matter, to denounce Bitcoiners who value Bitcoin relative to “infinite worthless pieces of paper” and say they don’t understand Bitcoin. Yes, Booth is technically correct with this and in the long run it will be proven correct, but it’s too smart by a half because the day-to-day fiat price determines how much food and energy you can buy today.
If you have such a massive stack like Booth, such that fiat prices have no effect on your food, energy, etc, then god bless. But not everyone does and so for them, the fiat price changing does meaningfully affect their quality of life.