#GetShortFiat — A pleb’s guide to speculative attack the dollar

Goes without saying. THIS IS NOT FINANCIAL ADVICE. Definitely do not do this. This is all “hypothetical”.

Now, let’s get into it.

If #GetOnZero isn’t enough for you, then here is how you #GetShortFiat and speculative attack the dollar like GigaChad, Twitter shitposting Billionaire Michael Saylor.

The background

Sit yourself down. Let’s first start with a little history and economic theory.

Fiat money is “government money by decree”. It is not “backed” by anything but the “full faith and credit” of the sovereign state. By definition, it is political money. Fiat is always one “crisis” away from political interference.

All fiat money eventually fails, because it is fundamentally a flawed premise based on debt slavery. There are two options for failure: a deflationary spiral or hyperinflation.

The recipe for all hyperinflations, whether it’s Weimar, Zimbabwe or Venezuela is two things:

1. An ever-increasing supply of money
2. A supply shock

Consequently, in my opinion, and many Bitcoiners’ opinions, the world is undergoing a monetary reset. It is mathematically impossible for individuals, companies and importantly governments to pay back debt in real terms. It may be paid back in the nominal unit ($), but the real value of that unit will be very little if not zero.

Including nearly $50 Billion in aid to the Ukraine crisis

Learning from history, if society is undergoing a monetary reset, you want to do three things: get long hard assets, get short the collapsing currency, and stay solvent. If enough people realize this it becomes a self-fulfilling prophecy, perpetuating the currency collapse.

When Money Dies: The Nightmare of Deficit Spending, Devaluation, and Hyperinflation in Weimar…

The playbook

So with all that in mind, here is how you go long hard assets:

1. Convert all stocks, ETFs, mutual funds, term deposits, savings, investment property and any “money-like” assets into Bitcoin. All these assets are overvalued due to people desperately searching for a place to store their hard-earned “money”. This process is when you go from zero Bitcoin to denominating and holding the majority of your assets in Bitcoin.
2. If you’re a crazy pleb, join #GetOnZero, where you try to hold zero fiats. This will get you the last 1–50%, depending on your personal situation. The challenge with this is that the short-term volatility of Bitcoin makes the position arguably higher risk, but intellectually the pros outweigh the cons.

Now, you’re at your maximum or close to the maximum Bitcoin exposure that you can be right now, without debt. However, you may have many years ahead of you to work, especially if you are young. This means if Bitcoin is your money, you want to be paid in sats to spend on living expenses and save for the future.

The problem for young people at the start of their careers is that Bitcoin is monetizing much faster than when you will reach your peak earnings potential.

If you plan on continuing to work as much as possible to stack sats at any price. You might want to lock in the price today, of the sats you are stacking tomorrow.

You'll need to use fiat debt to take advantage of this once-in-a-civilization opportunity. Here’s how you #GetShortFiat and get UpsideProtection™️ from Bitcoin monetizing too quickly.

1. Get a personal unsecured loan, preferably a fixed rate
2. Buy Bitcoin with said loan
3. Withdraw your Bitcoin UTXOs to cold storage self-custody, preferably a multi-signature wallet
4. Pay the instalments
5. Sit comfy and wait

Pros: You get more Bitcoin today, at a fixed price. You use weak money to buy hard assets today, paying off debt in a weaker currency tomorrow. In Australia, you also reduce your taxable income due to a policy known as negative gearing (deducting the interest expense from your tax). You don’t need to lock up your Bitcoin or any other assets. You can self-custody your Bitcoin.

Cons: You pay 10–20% more for that Bitcoin today. You must stay solvent and employed to meet the minimum repayments, or risk your credit score (in a hyperbitcoinized world Bitcoin Score > Credit Score). If Bitcoin goes to zero or you lose it, you still owe the original debt amount. We don’t know when and how quickly Bitcoin will monetize, or conversely, fiat will collapse. “Being early is the same as being wrong” if you don’t manage your payments.

Caveats: Don’t go insolvent (use a fixed rate and have a secure job), don’t get too much debt (manage your income). Owning assets other than Bitcoin could be at a greater risk of seizure. I’d argue part of “staying solvent” is food and energy security, but that’s a story for another time.

If you believe that Bitcoin will be worth more than your Bitcoin breakeven price, even with a ~9% interest rate, then you will get more Bitcoin overall than if you’d stayed humble and stacked sats. Not to say you shouldn’t still stay humble, but this is a game of accumulation and you want to win. This is not a new idea.

If your country or bank implements any policy you don’t like, changes the rules or does anything against your personal interest, you can simply leave the country tomorrow with your Bitcoin wealth completely intact.

The old world is decaying. It’s time to join Bitcoin.

Appendix:

Bitcoin Loan - Negative Gearing AU