Bitcoin could be the greatest opportunity to acquire wealth in the history of mankind.
But here's the thing. Nobody knows what bitcoin is, yet no one knows
where this is going. The technology has been unleashed and it cannot be stopped,
not by banks, not by hackers, not by government. All bitcoin
needs now is time to breathe. All it needs to do is survive,
and meanwhile, we have front row seats to history. Hyper Bitcoinization is the
idea that bitcoin will one day reach a level of adoption where it has become
the one medium of exchange and store of value. Hyperbitcoinization is the phase when
bitcoin is used to buy your coffee and power the global economy. Bitcoin has
the opportunity to become the world's first universal digital currency due to its fundamentally sound
monetary properties. What do I mean by that. Let's take just three examples.
First, bitcoin is borderless. You've probably heard this many times, but
let's think about what this means. Traditionally, nationalistic monetary systems keep the citizens
of a country financially hostage by forcing upon them a government decreed currency. For
example, in Sweden, I cannot pay rent or buy gas with US dollars
and I can't use the Swedish chrona in the UK. If my government was
so inclined, it could refuse me the right to trade with other currencies,
and I would, for all intents and purposes, be locked up in my
own country. This is not a big issue in Sweden because the government is
still relatively functional. In Venezuela, however, the citizens are at this very
moment being held financially hostage by their government and there are prisoners. They cannot
physically escape their country. They are not allowed to exchange their national currency for
any other currency or trade with other states. Bitcoin solves this completely. With
bitcoin, you don't have to flee your country physically to escape an oppressive government.
There are many many stories of families trying to escape China or Venezuela in
how they have had all their cash in gold confiscated at the border. No
one can confiscate your bitcoins. All you have to do and listen, this
is important. All you have to do is remember your private key in the
form of twenty four words, and you can travel the world with your entire
life savings. If you wanted to flee a country and at the border they
ask you if you're carrying any bitcoin. If you're moving any illegal bitcoins across
the border, you say no because you don't. First of all, bitcoins
don't exist. There's nothing you can point to and say that's a bitcoin.
There are only unspent transaction outputs, which we call coins for simplicity, but
in reality they are just lager entries or unspent transaction outputs, and they are
on the blockchain, and the blockchain is everywhere. Your bitcoins are already in
the country you're going to, So no, you're not carrying any bitcoins.
With twenty four words in your head, you can go anywhere and no one
can touch your savings. Bitcoin is global. There are no borders, no
one can impose borders, and no one can confiscate your bitcoins. The fact
that bitcoin is borderless is a huge deal. Second, bitcoin is permissionless,
and this is an equally big deal. Listen, in bitcoin, there is
no central agency. This means that no one can prevent you from transacting with
bitcoin. Ever, you can transact with whomever you want, whenever you want,
and you don't need to ask for permission, regardless of the amount you
want to send. Your funds cannot be frozen or confiscated, and your transactions
cannot be stopped because there is no one to stop them. There is no
one to freeze your funds. In bitcoin, no permission is needed to use
your money like it should be, because you own your money. This is
absolutely not the case with fiat. By the way, never before have we
had a permission less digital currency. Third, the most important value proposition of
bitcoin is true digital scarcity. Nothing is as scarce as bitcoin nothing, and
digital scarcity is a huge deal. In the year twenty one forty, about
one hundred and twenty years from now, just a fewer than twenty one million
bitcoins will have been created. There will never be more than twenty one million
bitcoins. That's the mathematical asymptotic cap hardcoded into the protocol. No government,
bank, or bitcoin developer could ever change in this, No one could ever
artificially deflate Bitcoin's value by increasing the supply. The supply and the issuance rate
are predetermined, meaning that and listen this is important, meaning that the bitcoins
you own will always be the same percentage of the total supply. Imagine that,
regardless of how much bitcoin's purchasing power increases or how ch someone is willing
to pay for bitcoin, your percentage of the total supply doesn't change. Let's
look at how much money there is in the world. Seventy three trillion dollars
in global stocks, one hundred and twenty seven trillion dollars in feet, two
hundred and fifty trillion dollars in debt, two hundred and seventeen trillion dollars in
global real estates, one point two quadrillion dollars in derivatives. There will be
nearly twenty one million bitcoins when all have been mined, but about twenty percent
of the bitcoins that have been mine so far are lost forever. At most,
we will have sixteen point eight million bitcoins in circulation. Ever, the
global value of all money is one point eight quadrillion dollars. If we were
to see hyperbitcoinization and bitcoin consumed all of these value, we would see one
setotial costing one dollar or one bitcoin costing one hundred million dollars. These charts
show that bitcoin is growing exponentially and has only just started its journey to hyperbitcoins.
The logarithmic chart shows the previous bubbles very clearly, and the linear chart
does not. The bubbles we have seen so far are seen through the lens
of hyperbitcoinization, so called microbubbles. If you are a holder of last resorts
and you understand the economics behind money, and you understand bitcoin, you have
reason to be bullish. And I'll leave you with this. A friend asked
me if it's selfish to want to be rich. I said, of course.
Not Being rich allows you to buy back your time so that you can
pursue the things you really want to do in life, which for most people,
in one form or another, is to help other people. We all
want the time and the means to become the person we envision ourselves to be,
and for most of us, that's a good person. Money is an
amplifier. With money, you become more of who you really are. Bitcoin
is the first expression of money where you can really own your own money.
This has never happened before. And while no one really understands what bitcoin is
yet or where it is going, we know that bitcoin is changing history.
So let it breathe and watch it unfold.