Derek on Nostr: Good points nostr:note15k7j2252rut4gffxgul8uhqxfdmg0sdnh8luf8ljakcr4ajuwaash48037

Good points

quoting note15k7…8037

#Bitcoin is already a global reserve asset.
Anyone can buy or sell virtually any amount of BTC at any time in any country on any device for a known price without any necessary intermediary.
Nothing else is like this.

Consider this. To sell $10M in gold, you need to securely transport bricks across borders to a physical gold exchange. Now to sell $10M in Bitcoin, you just click a button to instantly find a willing buyer anywhere in the world. Or a set of buyers, as you can sell $10M from Boston to multiple buyers in Bangalore, Buenos Aires, Berlin — all in a single fill on a single limit order for an inconsequential fee.

Think about how much it cost Germany to repatriate their gold (see screenshot below). The difference is >10000X. For gold, years to complete the delivery and millions of dollars in associated costs. For Bitcoin, minutes to complete and tens of dollars in transaction fees.

Now think about the fact that prominent Bitcoin exchanges used to actually crash from the sheer volume of buy and sell orders. Now visualize that many people trading gold bricks in person. They just couldn’t do it.

So the increase in liquidity of Bitcoin, because it is an internet-based digital asset, is easily 1000X. Probably 100000X.

That’s why it will flip gold.