The Discrete Things That Make Me Believe in the Long Term Value of Bitcoin
I spend every day and all day working in fintech and infrastructure web tech that shifts archaic industries. I’m a lucky one. I get to learn from people who were previously on wall street and sometimes help market to them too.
I run a fintech group on facebook with 200+ fintech founders w/ billions in volume processing and also another crypto trading group with 2.8K traders moving around $200M to $300M in volume across a variety of altcoins.
I spend a lot of time learning the decision matrices of different players in capital markets at a psychological and monetary level. As a blogger at equidate, I learn a ton. I even met the founder of legalist, too and learned more about the world of litigation finance.
I usually read about 30–60 minutes of financial news each day and look at tech unicorns.
When I envision the future of bitcoin and I gamble on that future, I’m doing so because I see a few things that stick out at me…..
- Frequent Yearly Currency Devaluations — 18 that I can count.
- Wars — 15 wars right now….
- How Central Banks Dysfunction — 190+ countries
- Shrinking Middle Classes — (Just look at the USA)
Bitcoin is humanity’s first great 0.5 level beginner theory on how to create value for the long term that is non-deletable.
It still has major issues, for example, if I die, my bitcoin keys die with me……eek!
There will be evolutions of cryptocurrency. I imagine governments will adopt cryptocurrency and go physically cashless to some extent, as I’m led to believe by Adam Townsend.
It’s critical to understand that every central bank in the world is broken.
Each one arbitrarily deletes and prints money with very little viable logic.
Each government calls it something different.
In the USA, we call adding mechanisms:
“Open Market Operations”
“Federal Open Market Committee”
In Canada, they call the adding mechanisms:
Bank of Canada
Electronically, they add money to supply….via loans…
Canadian banks have no reserve ratios, vie de merde……
— — — — — — — — — — — — — -
My point here is that I’m not gambling for bitcoin so much as I am actually gambling against the status quo, because the infrastructure grid shifting speed of the status quo is a leviathan of sluggishness. In the USA, less than 50 banking licenses have been issued over the past 10–15 years.
Cryptocurrency is a shakeup of the status quo, which has been defunct for a century.