Airplane vs donkey cart
Structural and technical
.
No counterparty risk from competitor, country, coeporetoe, creditor, cultures, currencies
Orthogonal to market — alph.
.
MIT
think from first principles ***
Build things which have never been built before , solve problems humans haven’t figured out yet ..
Elon Musk First Principles
.
Basic Physics & engineering to capital markets
.
$1.8T, Bitcoin
.
Gold, $16
180B, 10x in just 4 years
.
50%, utility
Long term store of value, 50%,,, $450T
–> just don’t lose your money
.
Bullshit!
.
Most valuable, $450T –> all the capital in the world, keep your money!
BTC may be $450T?
.
Yacht, bakery, ranch, plane company –> utility value
.
Entropy degrades capital
.
Spreads, licensing
.
.
Buy land and buildings and physical things
.
Florida hurricane –> you can’t buy hurricane insurance
The cost of entropy –> chaos, confusion , competition, inflation, politics war –> trillions of dollars a year
.
Don’t lose 10T a year! ***
Capital preservation
Heat preservation
.
Consumption –> Saving
.
No worry!
Bitcoin is anti worry!
.
Transfer value without a trusted intermediary
Store value without a trusted intermediary! **
.
450T of capital. Worth $10T a year, big idea
.
Digital Assets
.
Physics
Risk of real estate or property
.
Digital capital
Not digital currency! ***
Define it the wrong way —
.
$100M building in Miami. Owning a digital building
No tax, traffic, tenant, no regulator
Musical, fungible, configurable
.
Digital capital is global capital ***
Savant genius
.
Don’t buy $100M building in Russia Africa, Lebanon, etc —
.
Nirobi vs Manhattan
.
1,000 year asset
Be wealthy forever !
.
30,000 years! A store value
.
733 exahash
Backed by power
Raw power
18.33 gigawatts
$850B invested
220M holders
.
All cryptos are pegged to BTC ***
.
Bitcoin Bank, 21M coins
.
420M people support crypto –> America voted Bitcoin!
100x more powerful than next best one
.
Smart money –> store money in cyberspace and not lose it…
It is the winner
Smart Money
.
“Dudes bank‖
Emerging Dominant digital monetary network
95% don’t understand digital monetary
Rupert Murdoch
.
All securities in the US
Chinese and Russians can’t …
19th century dead money
.
60/40 portfolio
1-3% to 10-20% allocation
.
Larry fink
.
Institutions
.
$40M a day of BTC available every day by natural sellers
.