BWJ 004: Fidelity price prediction leak; Capturing the imagination; Understanding deflationary technology; and more.
What does it mean if 1 Bitcoin is $80mil by 2035? Which fiction books inspire bitcoiners? How will fixing the money, fix the world?
Fidelity price prediction leak
What does it mean if 1 Bitcoin is $80mil by 2035?
When a large financial institution such as Fidelity has Bitcoin documents leaked, it’s action stations for bitcoiners around the world, as they rush to analyse what the ‘professionals’ have to say. Are they still dismissing us? Have they caught up yet? What can we learn?
Mark Moss is one of my favourite bitcoin teachers, and he didn’t disappoint, with a measured summary. The key takeaway for me is the importance of purchasing power, a metric one should keep front of mind when calculating their wealth, not the fiat currency figure.
Don’t get me wrong, as a bitcoiner I love reading lofty price predictions, and interest in the asset from financial powerhouses is always welcome. Critically though, we must ask ourselves what happens when a currency fails: “if 1 Bitcoin is worth $80mil by 2035, what will that actually buy me?”
Capturing the imagination
Which fiction books inspire bitcoiners?
I love stories. I mean who doesn’t? It was no surprise therefore that this tweet by Gigi caught my attention. If you’re looking for a new night-time read, or something to take on holiday, there’s plenty for everyone in the recommendations curated.
As I like to check the synopsis of a book prior to reading, it was interesting to note the clear themes that bitcoiners enjoy in their stories, tales of dystopia, liberty, and sci-fi; all traits that will undoubtedly influence the wealthy bitcoiners of our future.
Personally I was left with a long list of new titles on my ‘to read’ list, most of which I had never heard of before, and a newfound daily scheduling requirement; yet another thing to squeeze into the day!
Understanding deflationary technology
How will fixing the money, fix the world?
Admittedly it took some hard work travelling down the Bitcoin rabbit hole to fully comprehend what Jeff Booth is stating here, but it’s well worth it, as it leaves one with a very positive outlook on the future. Is climate change solvable? Yes. Is inequality solvable? Yes.
For a detailed explanation on why this is the case, I can’t recommend more highly his book, The Price of Tomorrow. He explores the deflationary nature of technology, how it is always getting cheaper, faster and stronger, which within the inflationary monetary system of today exacerbates rather than cures our problems.
You wont be surprised to hear that Bitcoin is the key innovation he identifies as part of the solution, capable of working in tandem with our technological progress, critically aligning with the deflationary characteristic. It’s been said before, and I’ll say it again: “Fix the money, fix the world”!
Read: “If You Love Freedom, the Earth and the Environment, Consider Becoming a Bitcoiner” by Tomer Strolight