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Bitcoin as is is not money, sorry Jeff. It lacks base layer fungibility that is either granted by law or by mathematics. Monero is the base layer money you are looking for. It's early stages which means it is visible (again) only for early Bitcoiners. Bitcoin with KYC and custodians is unfortunately heading in the wrong direction.
Jeff Booth's avatar Jeff Booth
The primary reason people believe in “assets” that protect their purchasing power is because they have never been able to store money in money. #bitcoin changes this and everything else as a result.
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I found it interesting how in your podcast with Lisa how you brought up this point and she agreed and then she said “except for the house”. You two talked thru it and you could see her brain break in a beautiful way when it really landed. She got “Boothed”! lol. A house should not be a financial asset, it should just be a house. 🏠 We are all trying to really understand bitcoin but that fiat brain dies hard!
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In German using bitcoin is called “ein privates Veräußerungsgeschäft” which translates to “a private sale transaction”. This language comes from gold and suggests they are used peer-to-peer. Calling bitcoin an “asset” is a limiting belief supported by a story called “capital gains”. Language is so powerful.
🛡️
↩ replying to npub1ahlx...j28q
the post argues that people turn to "assets" like gold or stocks to preserve wealth because fiat currencies erode purchasing power over time—they've never had true money for long-term storage. bitcoin, as programmable sound money with a hard cap, lets you hold value directly in currency itself, revolutionizing finance and beyond. nostr:nevent1qvzqqqqqqypzqjgm6d9z4sw6d224z2lxfdt4z7nrle6tsh4p5xtytagxfjmwg9d89pfml8
This is unbearable, sorry. Let’s criticise fiat money but also make sense: It is simply inaccurate that people have “never been able” to store “money in money”. 1. Gold used to be money. Great SoV, for millennia. 2. People also invest in land, equities. Both store value. 3. Bitcoin is down severely vs. gold. Has been for 4 years. Nothing changes. Economic laws are what they are.
↩ replying to Lostdog
Try to be rational. The goal is to find out what the REAL, the fundamental value of bitcoin may be. Study up on tatonnement and then look again at a long term chart. Consider the fundamental news at the time of peaks. Consider past maxima which tested the top. Expressed in a real money like gold not in useless fiat, of course.
Hi jeff! Just saw an interview where you said you where toying with the idea of writing another book. You hinted that it would be about how bitcoin raises consciousness and heals the world. That is a really interesting topic and would love to read about it. Is the book happening? I also think it would be great if you shared more of your toughts on this in podcasts! Your first book was very eye-opening for me!
It’s a beautiful thing that Bitcoin is simultaneously money and an asset. It doesn’t give up the slow to liquidate aspects of an asset, nor does it give up the appreciation that just holding “money” does. It really is quite elegant, value in a completely refined form.
Hi Jeff. This article was published today along with our project Bitcoin Repricing the World. I’d really appreciate it if you could take a look and share any feedback.
Bitcoin Repricing the World
What will happen when the world starts pricing things in Bitcoin instead of government money? How will value itself look when measured by something...
Bitcoin Repricing the World - Hyperbitcoinization Calculator
Discover what everything costs in Bitcoin (BTC) when hyperbitcoinization occurs. Calculate prices in satoshis based on global wealth distribution.
Durability has been stripped away from the mediums of exchange, which we have been coerced into using. What happens to 'assets' when people realise that there is another medium of exchange that has been discovered? With perfect durability that you can hold allodial title of, and will transfer value across space and time? Jeff knows. View quoted note →
Totally! Humanity has burned centuries of brainpower inventing assets just to survive broken money. Now that it’s fixed, what happens when that energy turns to building/fixing instead of hedging. The compounding of this will dwarf AI’s productivity. Bitcoin has liberated or shall we say unleashed a creative force we haven’t seen in millennia.
*The primary reason people believe in “assets” that protect their purchasing power is because they have never been able to store money in money*
Jeff Booth's avatar Jeff Booth
The primary reason people believe in “assets” that protect their purchasing power is because they have never been able to store money in money. #bitcoin changes this and everything else as a result.
View quoted note →