Greetings Central PA Bitcoiners!
Two meetups lined up for November: an educational meetup on Saturday, Nov 9th, and our monthly coffee meetup on Sunday, Nov 24th. See below for a sneak peak of Nov 9th meetup.
After 6 months of chop, the exchange rate of bitcoin against the US Dollar is approaching its former ATH (all-time high). The ATH has already been breached when measured against other fiat currencies, and exceeded 100k Canadian Dollars yesterday. Keep in mind the shortcomings of these fiat measurement tools, though. Fiat currencies, due to constant debasement, AKA legal counterfeiting, bleed value continuously.
Imagine if other measurement tools that we rely on constantly changed in value! For example, say your height is 60" this year, and next year it's 63". This wasn't because you actually grew, though...it'd be because the length of an inch keeps insidiously getting smaller. Imagine if a carpenter were building you a house, and that when he showed up every morning to work on it, the length of each inch on his measuring tape decreased by some inconsistent amount overnight. How do you think that your house would turn out?
Value is subjective, and the fluctuating value of a thing can only be measured against the fluctuating value of another thing. Another way to measure bitcoin's value would be against assets scarcer than fiat currencies. Some examples are stocks (the S&P 500), precious metals (gold), or residential housing (the Case-Shiller Index). When measuring bitcoin's value against these scarcer assets, we've still got a bit to go before we eclipse the ATH, set for each of these in 2021. Compared to three years ago, we're still 24% under the ATH priced in stocks, 38% under the ATH priced in gold, and 16% under the ATH priced in houses.
Keep staying humble, and keep stacking sats.
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The Nov 9th educational meetup will be geared towards what steps one can take to improve their financial sovereignty. Beginners welcome!
Topics:
What does it mean to increase one's sovereignty?
What is the staircase of sovereignty?
What does it mean to get off zero?
The importance and significance of getting off zero
Approachable steps that incrementally increase sovereignty
What is a seed phrase? Why are they so powerful?
Cold vs hot storage
Ideas for leveling up your skills and setup
Hope to see you there!
@Lonelypumpkins
Central PA Bitcoiners
