Peter Kongstad
Peter Kongstad 2 minutes reading from Bitcoin

BREAKING: I Would Switch to a Better Store of Value

in 1896 a mine worker in Swe 🇸🇪 earned 0,3 SEK/hr 10-12hr shifts tax at that time was below 6%

today median salary is about 180 SEK/hr (mine workers earn more today). Tax is 34% in Gällivare

we've had a salary inflation above 60.000% in 120 years.

Store of Value?😂 BTC

Not only has the government taken 99,8% of the value out of the money people earned since then. They also tax almost 6 times more and still there is a budget defecit

another historical note to the catastrophic handling of the value of the SEK is that old 🇸🇪 1 SEK silver coins suddenly became worth more in silver than their minted value.

a 1 SEK silver coin was already in the 70's worth more than 16 SEK shitmetal coin.

om åtgärder för att hindra olaga utförsel och nedsmältning av svenska

silvermynt Motion 1979/80:596 av Jan Prytz - Riksdagen

Today more than 98% of all SEK transaction volumes are digital. This means that if the state owned central bank wants, they can make the value of the SEK completely worthless over night as there is no metal at all.

SEK value retention hangs in the trust of the @riksbanken which has taken away >99,8% value in a century

I don't know about you, but I'd switch to a better store of value as soon as I received a SEK-denominated income

Gold has held up its purchasing power BTC holds even better

This post is based on this twitter thread.

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