2minutebitcoin on Nostr: Regardless of Bitcoin’s future ascent, or descent, the long-dated monetary ...
Regardless of Bitcoin’s future ascent, or descent, the long-dated monetary liabilities of individual Americans are denominated in U.S. dollars.
Tackling their collective, fiat-based societal retirement challenge head-on leads to an interesting and important question: “what do you have to believe to be true for Bitcoin to be your vessel for savings?”
The answer: point to point – meaning, from today until your long-dated liabilities (e.g., your retirement spending) start coming due – and regardless of USD paper currency volatility along the way – you only have to believe one thing; that USD will depreciate relative to Bitcoin over that time period, as it has ~80% in the last two years (2018-2020) alone.
Remember that the most important trades are the ones we make with our future selves, that our search for eversounder money is an individual, intuition-based optimization, and that, instinctively, we know our survival depends on durably storing of our life force.
In this context, is it any surprise that millennials voting with their dollars, and with more distrust for traditional institutions than their forebears, have already made Bitcoin “the millennial savings account”?
-- an excerpt from the Stone Ridge 2020 Shareholder Letter, its 2-minute version can be found here https://www.2minutebitcoin.org/blog/stone-ridge-2020-shareholder-letter
Tackling their collective, fiat-based societal retirement challenge head-on leads to an interesting and important question: “what do you have to believe to be true for Bitcoin to be your vessel for savings?”
The answer: point to point – meaning, from today until your long-dated liabilities (e.g., your retirement spending) start coming due – and regardless of USD paper currency volatility along the way – you only have to believe one thing; that USD will depreciate relative to Bitcoin over that time period, as it has ~80% in the last two years (2018-2020) alone.
Remember that the most important trades are the ones we make with our future selves, that our search for eversounder money is an individual, intuition-based optimization, and that, instinctively, we know our survival depends on durably storing of our life force.
In this context, is it any surprise that millennials voting with their dollars, and with more distrust for traditional institutions than their forebears, have already made Bitcoin “the millennial savings account”?
-- an excerpt from the Stone Ridge 2020 Shareholder Letter, its 2-minute version can be found here https://www.2minutebitcoin.org/blog/stone-ridge-2020-shareholder-letter