Norwegian Billionaire’s Shareholder Letter Is The Year’s Most Bullish Bitcoin Article – This is probably the best letter to shareholders I’ve ever read. It’s clear the company is incredibly clued-in to what’s happening in the Bitcoin space. If you’re skeptical about Bitcoin’s energy consumption, look no further than this letter. Using this letter as a guide to the trend, I think we’re going to see a massive rise in network hash power over the next few years (it’s doubled in the last 12 months). Venezuela recently achieved 10% of the network’s hash power. I think 1st world countries are going to be left behind if they fail to see that the future belongs to Bitcoin. This will only lead to a massive shift of monetary power. In fact, I can’t see how governments even survive in a Bitcoin world. The supply is quickly running out, billionaires are buying it up like crazy. I’m all for the billionaires owning it over government, however my motivation is to convince the average Joe. The simple truth is: if government were a business & had no tax payers they would die very quickly. Obvious income taxes aren’t enough to keep government running with such high deficits. Hence why they need to print money at citizen expense to pay the bills – stimulus, debt, bailouts, inflation, quantitative easing (QE). Bitcoin removes all these hidden taxes by default. If they start to make special Bitcoin taxes, I think the people will only rebel. Bitcoin & privacy tech will eventually be ubiquitous & super easy to use (Lightning, CoinJoin, PayJoin, Coin Swaps) – they’re screwed in the long run.
As this letter suggests, more & more people are starting to see the fallacy of government & the central banking system. Governments far & wide continue to assure people inflation is set at 2% and will only very gradually increase over the next few years. They’re lying to you, because you only have to see how much money is being created out of thin air. Roughly 30% of all US dollars in history were created in 2020 only – 2% is laughable. Billionaire Michael Saylor, CEO of Micro-strategy, has been recently dropping the unfiltered truth to the public. He bought Bitcoin (for himself & treasury) because he can see that his company needs to return a profit of at least 25-30% just to break even with inflation. Again, if you think 2% is the truth – I’m sorry, but you’re being deceived. They simply don’t want you to lose faith in their money & leadership. Yet, they have the audacity to tell the people Bitcoin is highly speculative & risky. Bitcoin only appears risky to the general public due to media. I believe it’s the most conservative play you can currently make. These billionaires seem to agree. Why would you trust anything coming out of government when the rich are exiting dollars. I’ve personally lost all faith; the lies could not be more overt. It’s propaganda on top of propaganda. There’s no truth in the media, it’s all censored by government. In this day & age, you have to be a critical thinker & read between the lines. You only have to watch the cost of everything rising to see that inflation is here & will only accelerate. There’s no coming back from this. The ship will sink. Bitcoin is the life boat for freedom, it’s designed to bring prosperity to the hard working individual. Government money is cheap & corrupt. it has no accountability or responsibility. No hard work is required to earn it if you’re close to the window of the central bank (1 % elite). The recent $1.9 Trillion US stimulus bill is being sold as $1400 free for everyone. In reality, is costing each American nearly 6k – government-issued currency is a scam. The concentration of wealth to the 1% is appalling. Using Bitcoin, the people will soon take back an entire century of stolen wealth – do you want to be part of the revolution?
The man/woman who always spends their pay check, then goes into further debt, will never get wealthy. Government is based on the same fallacy. They’re just able to milk their citizens dry to pay the bills whenever they please. Bitcoin is going to disrupt this entire process. They want to ban Bitcoin, but they simply can’t. This piece by Alex Gladstein is brilliant & perfectly illustrates it – Can The Government Stop Bitcoin. It’s too big to kill. Previous predecessor of Bitcoin – E-gold was taking down by the government at a $10B valuation. Bitcoin is currently 100x this – hovering around $1 trillion. This fact alone should give you confidence in it’s technology. Bitcoin competes directly with government & central banks. Nodes operators are sovereign individuals & miners are the future central bankers – of course they would’ve killed Bitcoin already, given the chance. It is simply too robust; It has far too much support & wealth behind it.
All they have left to do: continue to put it in a negative light & try to surveillance & over regulate the chain in the hopes to wart off future adoption. However the privacy tech is growing faster than they can build tools to surveillance the chain. Transactional privacy should be a right; there’s a reason we all live behind 4 walls. Even an energy company will want privacy. They don’t want their employees all being able to see their co-workers pay checks. The boss doesn’t want employees knowing company balances either. Bitcoin & privacy are both necessary for human well-being. Yet, they continue to tell the public Bitcoin is for terrorists, drug dealers money launderers. The banking industry is the main offender for these crimes. Their regulations aren’t intended for your safety. The term money laundering should be abolished – everyone should be able to do whatever they want with their money. The winners & losers should be decided on the free market. No monopolies or double standards. I hate talking price these days, but $500k Bitcoin in 2021 sounds like an undershoot at this point. Things are about to get hectic. The supply on the open market will soon drop under 1m coins – no one is prepared for the FOMO that is coming.
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