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Issue #851: Bitcoin, a reason to be optimistic.

Issue #851: Bitcoin, a reason to be optimistic.

Oct 22, 2020
Marty's Ƀent

Issue #851: Bitcoin, a reason to be optimistic.

In case you freaks missed it, hedge fund manager Paul Tudor Jones made an appearance on CNBC this morning during which he extolled Bitcoin and the individuals dedicated to building out the protocol, educating others about it, and ensuring that it is adopted by the masses. If you're in need of some bull juice this afternoon, I highly recommend you peep the short clip.

As our friend Hasu points out, one of the astute observations made by our boy Paul during the interview is the fact that, when compared to the other assets that serve as inflation hedges for individuals and institutional investors alike, Bitcoin is the only asset out of the bunch that is inherently bullish on human ingenuity and the future of our species. Every other asset serves as a call option on the collapse of the current system. Providing no avenues through which to build a better future. They simply allow individuals to profit from the volatility and chaos. Some may argue that gold also provides an optimistic future if we're able to revert to a Gold Standard. However, it has become abundantly clear over the last century that this is not a viable option due to the physical nature of gold and the fact that it is centrally controlled in very few vaults around the world.

Bitcoin's attributes put it in a unique position to provide the world with a better future. Bitcoin provides a tabula rasa from which individuals around the world can, in a distributed peer-to-peer fashion, begin to build a system that is additive to the human experience. Allowing us to exit the system via the construction of a separate, better system. Not only does the protocol provide the world with a scarce token that gives individuals the ability to preserve, and even increase, purchasing power over a long time horizon.

Bitcoin is also software that allows us to build things that were never possible to build before. Creating new ways of organizing, new jobs, new products that cut out middle men, efficiencies in regards to capital allocation and across the energy sector. The benefits are many and they are compounding. Each aspect enhancing all others as the network matures and proliferates to more and more people. Ultimately creating a network effect the likes of which humans have never experienced.

Despite all of the vitriol, derision, and lack of respect that has been expressed towards Bitcoin by the mainstream throughout the first twelve years of its existence, the network has only grown stronger and continued to change minds one individual at a time. Your Uncle Marty thinks this trend will continue as we move forward. The future is bright and the light is emanating from the Bitcoin Network.

Final thought...

I drank way too much gatorade in college. Can't even sip it now without diluting it with water.


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