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  • right because Bitcoin is deflationary in itself so it won't grow.

  • So if you track your future prices in Bitcoin you'll see what what prices really are which are naturally going down as opposed to what we see in our monetary policy dollar world which as they go up.

  • All right.

  • And so you'll see a real version of what the future is.

  • It's a way to embrace deflation I guess is kind of what you're saying.

  • It's a way to it's a way to transfer from one system that can't change itself right to another system that allows the change.

  • And if you if you think about that network transfers more and more people see it.

  • Yes there is people that see it earlier will have way more of the wealth um in books but but what will happen or as Bitcoin becomes a standard and everything else it'll get better for everybody and materially better for everybody because when and some people question on Bitcoin they said okay do you just throw control to new people?

  • It's actually it's way bigger than that.

  • It's changing the incentives of the world is changing the extent.

  • And so so now imagine I have control on Bitcoin because I have more Bitcoin.

  • What does that mean?

  • Because it doesn't mean I can control the network it doesn't mean I can go and print more Bitcoin.

  • It doesn't mean I can make a bad bet with my money is in a bank and I'm going to fail and I can and I can change my bet and charge everybody else.

  • It doesn't mean that all it means is I have more wealth in the system, I have zero more control and that's important piece.

  • So if I want to use that wealth to control people, what it means is I'm distributing my Bitcoin through control because I have to pay them or something.

  • And so control comes more control is distributing your Bitcoin to other people.

  • And so uh and in a system like that, what it means is as as the free market and technology work together, the prices keep coming down lower and lower and lower and lower until they're free.

  • And and again you saw this in the book.

  • But but we we don't pay for the oxygen we breathe, Even though it's the # one most valuable thing in our lives.

  • Why?

  • It's ludicrous.

  • If somebody said, hey, I'm going to turn, I'm going to create this business, I'm going to charge you for oxygen and have everybody walking around with oxygen in front of you all the time.

  • I think it's an insane business.

  • Why would you do that?

  • Oxygen is free?

  • Well why is oxygen free?

  • Because it's abundant And and technology creates abundance everywhere.

  • And it's the same reason why your calculator on your phone is free.

  • You can't create a monitoring, you can't create value there.

  • It's the same reason your camera, all your photos are free and you take tons of photos are better now than they ever were because you can't create value and all of those prices are coming down lower and lower all all the time.

  • So if you have a system that allows that the world moves way faster to that abundance.

right because Bitcoin is deflationary in itself so it won't grow.

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BITCOIN IS A DEFLATIONARY ASSET - Jeff Booth on Changing The Incentives of The World ?

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    林宜悉 posted on 2021/10/24
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