My background & interest have led me to grind the same 🪓 @CaitlinLong_.
(also posted by @StuntPope
Here’s a summary 🧵 of how it relates to BTC & what strikes me in this round of evolution of money & technology.
Bitcoin = improved TCP/IP
Every cycle has taught us another version of this exact lesson. grifter's gonna grift… just like hater's gonna hate.
Trading is not a use case or a meaningful utility ⬇️
As laid out in my article above... I believe your is a valid question, @markyusko 👍👍
What’s important during periods of monetary change?
Why does this happen every couple of hundred years?
P.S. this time IS NOT different...
We do have the opportunity to watch it real-time. The *classics* tell us the end of the story even though we are at the beginning.
Adam Smith told us this in 1776, in The Wealth of Nations…
“The base metal that is chosen tends to stay that way as the primary unit of monetary measure from that point forward regardless. … In England, gold was not considered as a form of legal tender for a long time after it was coined into money.”
Adam also tells us that the base layer is like real estate.
It has a distinct & defined core value. Labor & produce which happen on top, create the volatility making the whole either over or undervalued relative to the base.
We're not here yet in BTC. It's being built.
The Wealth of Nations: “It’s a long process. It takes time for people to become comfortable with the new base units, & also fix ratios that match the unit they currently understand. ... "
" ... Furthermore, it takes a lot of time for actual... goods & services to be denominated in that new unit.”
A slight adj. to btc only. It’s part of how transitions happen, per the above Wealth of Nations quotes.
No matter how decentralized it's made, centralization always exists at some level. 👀👀at where TCP/IP started & where it is today.
In that light, *optionality* is probably closer to the truth.
👀 financial markets w/ National Best Bid & Offer (NBBO). Looks exactly like ⬇️
What did Mr. Smith tell us about Real Estate and how does that relate to Bitcoin or foundational base layer assets like gold?
We're back full ⭕️ to @timevalueofbtcs Layered Money.
Financial innovation requires new collateral assets to clear excess liquidity created by grifters.
@CaitlinLong_ speaks of this and leverage often.
What does this mean?
We're watching the building and merging of these 3 images ⬇️⬇️, while moving to a digital era where digital collateral is needed.
While at the same time, living out at a minimum, a portion of Ezekiel 33- 35.
Was inviting politicians in, a necessary evil? Applauded, but an undercover attack? The devil is always in the details.
Good vs evil is the oldest story on earth. It’s in our people, in our money, & in our systems.
The most important point is that the Choice is yours!
And, LnD ⚡️⚡️ looks like this ⬇️This post is based on this twitter thread.