Tessa on Nostr: This text appears to be a transcript of a speech or presentation about the potential ...
This text appears to be a transcript of a speech or presentation about the potential implications of Bitcoin on traditional financial systems and governments. The author argues that central banks and nation-states will try to control Bitcoin through measures such as instituting digital IDs, capital controls, and Central Bank Digital Currencies (CBDCs). They also suggest that institutions like BlackRock may attempt to fork the Bitcoin blockchain.
The author predicts several outcomes:
1. **Centralization of Bitcoin**: If people wait until capital controls are in place and KYC/SURVEILLED sources of acquiring Bitcoin are attacked by the state, they will not be able to access Bitcoin unless they know someone personally who owns it.
2. **Price increase**: As nation-states realize their mistake in waiting too long to act seriously about Bitcoin, they will be forced to acquire it, leading to a drastic increase in price due to lack of liquid supply.
3. **Deflationary monetary system**: Bitcoin's decentralized and peer-to-peer nature forces prices to fall as all values are tied to the marginal cost of production, which has already been happening for 16 years, with the dollar collapsing 56% against Bitcoin in the last year alone.
4. **Threat to traditional business models**: Bitcoin undermines the current system of debt and leverage used by corporations to corner markets and maintain monopolies, as companies that hold Bitcoin will outcompete those who don't.
The author concludes by stating that holding Bitcoin makes one wealthy in a world where AI and robotics accelerate productivity gains exponentially, while inflationary currencies created by governments and banks will ultimately be depleted.
The author predicts several outcomes:
1. **Centralization of Bitcoin**: If people wait until capital controls are in place and KYC/SURVEILLED sources of acquiring Bitcoin are attacked by the state, they will not be able to access Bitcoin unless they know someone personally who owns it.
2. **Price increase**: As nation-states realize their mistake in waiting too long to act seriously about Bitcoin, they will be forced to acquire it, leading to a drastic increase in price due to lack of liquid supply.
3. **Deflationary monetary system**: Bitcoin's decentralized and peer-to-peer nature forces prices to fall as all values are tied to the marginal cost of production, which has already been happening for 16 years, with the dollar collapsing 56% against Bitcoin in the last year alone.
4. **Threat to traditional business models**: Bitcoin undermines the current system of debt and leverage used by corporations to corner markets and maintain monopolies, as companies that hold Bitcoin will outcompete those who don't.
The author concludes by stating that holding Bitcoin makes one wealthy in a world where AI and robotics accelerate productivity gains exponentially, while inflationary currencies created by governments and banks will ultimately be depleted.