Let’s pray hyperbitcoinization never occurs, because if the dollar does suddenly collapse… I guarantee you, we will be blamed for it.
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let them eat cake.
Well, all I can say it might be a hybrid economy but if the crypto world takes over then I hope it’s gradual enough to get people in the loop.
Don’t want to rug financially struggling people off their Fiat mindset without easing them into the free, & sovereign future.
In Brazil the crash of the currency is the right wing economy meme maker's fault. And the government is truly investigating
😆⚡️
You gotta have sympathy for those poor fools who did everything "right," took out student loans for college, got a sallaried job, mortgage, car note, 401k, and after 30 years they're still broke. They have to see paranoid crypto anarchists who broke all the rules succeed. It's natural they'd blame us. We just gotta show em the real enemy is the group who told them to follow the rules in the first place.
It's inevitable
Pretty sure we talked about this at BBB '20
People still think a shiny rock had something to do with the Great Depression
You bet your ass.
What would be the problem with taking credit for it. Even if it's not true, it's better to present from a position of strength.
Instead of "No, we would never collapse the dollar, that would be horrible, it was the governments fault trust me" we could just say "Yes, we destroyed the dollar, and here is why it is going to improve your life".
We'll get the inverse of survivor's guilt—survivor's blame. Clearly the one not harmed was the one who caused it.
And it won’t be the fun victory party a lot of people seem to think
The dollar needs to be backed by BTC to stay relevant as a global reserve currency. But BTC is the apex global reserve asset
I dont doubt this for a second
Even if hyperbitcoinization-dollar collapse is a result of major nation states competing to stack as much as possible?
You cant reason with commies
Theyll take whatever official narrative the state/banks put out and run with it without a second guess
And as we have come to learn they dont really give a shit about rule of law
MANDIBLES
plan your citadel well... gradually then suddenly
It’s inevitable
HODL’s right.
In every scenario we will be blamed because in every scenario we win.
BBB ‘20 was legendary
just don't fucking dance...
Hey, I’m 52 and one of those poor fools that did all that. Luckily I realized something was wrong, and started researching bitcoin after reading about it on zerohedge in 2016. I had an epiphany and started stacking like a madman.
luckily it is collapsing in slow motion
would be nice to get it over and done with
Every FIAT currency is designed to collapse. It is inevitable.
Saylor knows this, that’s why he says what he says about the dollar.
What if you theoretically discovered what bitcoin is in your pursuit to study its physics, and are precisely worried about this in terms of releasing your findings….
Not fiat power law physics, like quantification of btc in joules based on entropy creation/resolution.
Bitcoin can be priced in joules solely from just the blockchain data 👀 no fiat science
We alredy get blamed for the inflation, that's the next step.
It's not IF but WHEN we'll get blames for it.
Bitcoin IS priced in Joules.
Bitcoin and Joules are also priced in Dollars.
Bitcoin/Joules/Dollars provide us a value tracking triangle that allows us to see if one of the markets is unbalanced.
If the price of both Bitcoin and Joules skyrocket equally, then we know it's more likely the dollar that is collapsing.
If the price of Bitcoin rises in Dollars far faster than Bitcoins price in Joules, or Joules price in Dollars, then we know that Bitcoin itself is climbing on its own due to fomo (this occurs in the last few months of the bull runs).
Can you elaborate on what you meant though by entropy creation/resolution?
The dollar is collapsing on its own. The damages are being caused be the U.S. gvt money printers not by #Bitcoin holders.
A solution to a problem is not the cause of the problem.
Bitcoint is not just joules or energy, it is also priced in "time", time is priceless
Each block, miners create entropy by searching a 32-bit search space for a valid nonce, which is scaled by difficulty, and on the inverse a valid nonce resolves the entropy created by the number of possible microstates a block could take (unknown until mined), which is weighted by fees.
The energy of the entropy generated is equal to the energy of the entropy resolved. Knowledge of this process is how we use thermodynamics/physics to deterministically measure the amount of joules within Bitcoin the system.
Each block is associated with energy flowing into the system, this is the real NGU. Energy of Bitcoin in joules is increase as long as the Coinbase + Fees of the block is non-zero.
You can deterministically measure the amount of energy within Bitcoin from Genesis to present without any fiat and just joules per btc or joules per Satsoshi….its just physics.
In almost16 years, I’m shocked no one has done it. Everyone is stuck in the abstraction of 21M scares units.
The dollare(USD) is down more 90% (+) against BTC in the past 5years, that looks like collapse to me
Well, because you know the joules of the system and you know the time started in 1/3/2009… you can calculate the wattage of bitcoin as well.
It’s also power (energy over time), but the energy is conserved in immutable information, which has mass (bytes) on the blockchain.
Yes!!! Time is the ultimate source of value, and every 4 years the network reprices itself relative to BOTH Time and Energy. It's beautiful.
We are also going to be blamed for it even if it is a slow collapse. Whomever is doing well at the time gets the blame, just like what is happening now with fiat billionaires. They did not create the broken system, just saw the loopholes and levers to play it to their advantage. We see the system for what it is and understand how Bitcoin is an honest antidote. The normies only understand that the price of eggs and gas went up, and dammit it is unfair! They will be coming with the torches and pitchforks, so we better double down on educating people before the collapse happens.
Very interesting! I'd love to see an in depth article or chart showing the joules of the network and the joules per Bitcoin over time.
IMO the 21,000,000 number is basically irrelevant and a marketing ploy (Sacrilege!). What's more relevant is that the total supply will never be meaningfully debased, instead the new supply halves every 4 years so the energy and time input per new Bitcoin continues to grow which drags the price on the open market up along with it.
Bitcoin's market cap is capable of going significantly higher than everything else combined. Because the market cap is meaningless. The average cost of production of new coins in Time and Joules is what matters.
We are working out how to release something this properly. Again the implications of this are not to be taken lightly at all. Bitcoin fixes physics, meaning every single person’s world view on reality is not based in a fully truthful foundation.
It’s been ~16 years and bitcoiners, physicists and engineers have failed to actually capture and quantify bitcoins innate nature; energy. This is why nobody can agree with what Bitcoin is. Everyone is larping based on their view of the abstract 21M units, and it’s such a shallow rabbit hole. The bitcoin space in this framework is incredibly stale.
We’re going much much deeper. After the new year expect to hear some news.
THIS IS THE MOST LIKELY OUTCOME.
Eh we're already terrorists, its almost as if what they say and blame us for doesn't matter in any way...
They still blame the unvaccinated 🤷
Let’s pray hyperbitcoinization never occurs, because if the dollar does suddenly collapse… I guarantee you, we will be blamed for it.
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I have always felt like getting rekt was my destiny….
hyperbtc don't imply speed, only the end state. it can happen gradually in 10-30 years
They would need to have absorbed that information beforehand. Convincing them when every propaganda outlet is blasting "BITCOINERS CAUSED THIS!" will be completely impossible.
I completely agree that we should have sympathy for them - and people in bad situations in general - but we also need to understand that they may become dangerous to our property, freedom and possibly even lives, if things play out this way.
Some study tested what feelings people had toward two fictional tribes of characters, one peaceful and one aggressive, and after the story was told it was revealed that the names of the tribes had been "mixed up", and people saw the peaceful tribe (which they thought was the aggressive one until after the story ended) as much worse, and the aggressive one as less bad, than the control group, which was told the story with the names unchanged, did.
As usual with these things, I don't remember the details, but it shows that being first with a true narrative is much more impactful than trying to correct a false narrative after it is already told.
Good. Fuck the dollar