[lowkey]

“Actual currency, on the other hand, derives its value from the willingness of the issuing sovereign to accept it back in payment of taxes.”

And yet the purchasing power of the dollar has fallen by 99.5% since moving off the gold standard. Bitcoin claims to hedge against this steady decline in value which is caused by money printing.

If you believe they will stop printing money and diluting the value of the dollar, the argument for Bitcoin fails. If not, Bitcoin’s hard supply cap and perfectly inelastic supply when faced with changes in demand make it a compelling hedge.

[dools]

If I want to save my money for 100 years I won’t buy bitcoin or hold cash or gold I’ll put it in index funds.

[lowkey]

Purchasing bitcoin on any random date in history and holding it for four years or more has outperformed every single index, ETF, stock, commodity, real estate every single time.

Betting on a single index even being around in 100 years is risky. Betting on the dollar lasting 100 years is risky. Betting on Bitcoin lasting 100 years is also risky.

I think looking at 5, 10, or 20 time horizons is more practical and I have high confidence that Bitcoin will continue to be the best performing asset on those time horizons.

[dools]

Someone is going to get left holding the bag.

The reason I said 100 years is because the US went off the gold standard in 1933 (although it had a weird modified version until the 70s).

There are individual stocks that have been around for over 100 years. The Dow Jones has been around since 1884. Stock exchanges have been around since the 1500s.

Indexes that apply to the averages of top, say, 200 stocks in a given country's econonmy will definitely be there in 100 years, absent a collapse so monumental that money itself has no meaning.

Bitcoin is a freakish sideshow by comparison. Might as well buy baseball cards.