RT Bob Dewey (@macroleverageTP)@saifedean and I discussed how fiat changes human time preference. His new book The Gold Standard explains this brilliantly.Here’s Lyn Alden showing exactly how that happens:“When money supply grows faster than resources, debt becomes rational. You short the money to buy real assets.”Clip below from our gold roundtable.h/t @LynAldenContact, @BobMurphyEcon, and @thetrocro ...

Market Trends & Predictions - Crypto entrepreneur Arthur Hayes predicts Bitcoin's four-year cycle is over [1] - Increased money supply will benefit digital assets [1]

Core Viewpoint - The discussion centers around the unexpected rise in gold prices, with speculation on the reasons behind this trend, particularly the role of central banks in driving demand for gold despite a lack of supporting economic indicators [1][4][5]. Group 1: Gold Price Dynamics - Gold prices have been rising consistently, contrasting with the flat performance of the Goldman Sachs commodity index [2][3]. - Central banks are increasingly purchasing gold as a hedge against fiat currencies, especially following the freezing of Russian central bank assets [4][5]. - The demand for gold is not necessarily a reflection of a weakening dollar, as evidenced by the strong performance of stablecoins pegged to the dollar [6]. Group 2: Economic Context - The current economic environment shows that inflation protection is a key driver for gold investment, as investors seek to avoid past losses [9]. - Despite the rise in gold prices, other commodities and bonds are not reflecting similar bullish trends, indicating a disconnect in the market [10][14]. - The global debt situation, particularly in Europe and Japan, is contributing to a heightened interest in gold as a safe haven [15][16]. Group 3: Investment Perspectives - There is a debate on whether to sell gold, with some analysts suggesting that stocks may offer better returns due to rising profits and favorable tax policies [17][18]. - The overall sentiment suggests that while gold remains a valuable asset, the focus may shift towards equities as the primary investment choice [18].

Bitcoin's Genesis and Early Development - Bitcoin started as a niche community effort focused on transactions outside the banking system [2] - Early participants, including Satoshi and cipher punks, contributed to its development [2][3] - Initial mining was done by individuals on laptops, gradually evolving with increasing network popularity [5] Mining Evolution and Technological Advancements - The Bitcoin protocol inherently increases mining difficulty with more participants, driving higher electricity consumption (Proof of Work) [5] - Mining transitioned from CPUs to GPUs due to competition, and eventually to specialized ASIC chips manufactured in China [6][9] - The rise of ASICs was fueled by cheaper electricity sources and the increasing price of Bitcoin [9] Decentralization and Network Effects - Bitcoin organically grew through speculation, dark web usage, and online gaming, eventually gaining recognition for enabling self-ownership of money [7] - The network effect of Bitcoin is significant, making it difficult for competing cryptocurrencies to replicate its scale and decentralization [13] - Bitcoin's design ensures no single entity controls it, promoting decentralization through mining pools and fair participation [11] Economic and Ideological Underpinnings - Bitcoin is described as "Austrian economics on a blockchain," emphasizing a free market with a fair launch [12] - Satoshi's departure and the fact that their coins have never been moved contribute to the perception of a fair and decentralized system [9][10] Competition and Differentiation - Numerous attempts (approximately 22 million) have been made to create competing cryptocurrencies, but they often compromise on decentralization to achieve speed or cost efficiency [12][13] - Competing cryptocurrencies often end up more centralized and fail to achieve the unique properties of Bitcoin [13]

🇺🇸 U.S. money supply is exploding.This will flow into Bitcoin & Crypto! https://t.co/9WiDGNbn2B ...

Market Share - Bitcoin represents 1.7% of the total global money supply [1]

Market Trends - Bitcoin reached a new All-Time High (ATH) yesterday, and this process of repeating ATHs is expected to continue in the coming weeks and months [1] - The continued increase of the money supply is the driving force behind the repeated ATHs [1] - The increase in the money supply is projected to intensify following the anticipated rate cut in September [1]

Market Share & Adoption - Bitcoin represents 1.7% of the global money supply [1] - The cryptocurrency market is still in its early stages of development [1]

Monetary Policy - Argentina's economic team signals a firm control over the money supply [1] - This control is seen as crucial for curbing inflation [1] - It also aims to stabilize the peso [1] Political Impact - Stabilizing the economy is important for maintaining Milei's high approval ratings [1]

RT diablo ディアブロ™ (@diablofutur)they had evry man slaving 40+ yrs in underpaid jobs, called bitcoin a scam & told u 2 shovel ur hard-earned savings into US index funds.then they quadrupled the entire money supply in less than 15yrs & vaporized the middle class overnight.textbook. ...