More of my wealth is in #bitcoinβ―β―β― than 99 of 100 bitcoin owners. I have listened to more hours about Bitcoin than 99 out of 100 Bitcoiners.
And yet there is one CRYPTO project I fear I must not dismiss.
The reason is the near future of AI.
It is of existential importance that the emerging AGI be aligned with humanity and NOT controlled by a centralized entity.
Can the goals of #SingularityNET be achieved more securely and with greater decentralization on a Bitcoin layer 2 OR on a Nostr-like protocol that uses Lightning?
Do we have time to find out?
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Hodlers of this Bitcoin era are like the people who gather around at the scene of a fire and form a circle to hold a sheet tightly enough to safely catch those jumping down from above.
Nov, 11th 2020
Dear Mom and Dad, I'm attempting to summarize a view of future events where the dollar is heavily reduced in power. I've gone down the youtube rabbit hole since March and heavily shifted away from the dollar into bitcoin.
Over the last couple months, mainstream investors on mainstream networks have been sounding a lot like the fringe youtube channels I have been watching.
The debt created in the 2008 bailout was never corrected. We were already in the red without a clear way to pay for social security/medicare. This debt was multiplied many times during the pandemic bailouts. In the next years, we must print loads more money ( an exponential amount more than we have already) or enter a depression/ pitchfork/riot type situation.
Bitcoin was created as a reaction to the 2008 bank bailouts / money-printing.
The future of the dollar as the world reserve currency is in jeopardy - perhaps replaced by an etf-like basket of currencies. National digital currencies are on the near horizon - US government digital dollar coins. MIT is currently creating it with the US government. China is making the digital yuan. The IMF, international monetary fund, could create a basket type digital money. The dollar as the most popular currency used in international trade is in question into this decade.
Bitcoin is poised to replace gold and its 5000 year history as a store-of-value. Bitcoin's rise is like the emergence of the internet in the 80's/90's. Gold miners found 67 million ounces of gold this month. The biggest gold discovery ever. Bitcoin is getting harder and harder to find and is ultimately supply-capped. It is the scarcest money with the largest network ever known to humanity.
Scarce assets like bitcoin (and tech stocks) will become more and more prized as the masses must be supported by stimulus with over-printed currency.
Very rich people and corporations are increasingly shifting into bitcoin. Many well-respected billionaire investors have made a 180 on bitcoin and come around.
I personally see technology making all these concerns moot around 2030. It will be powerful enough to create an abundance of resources. It's just that getting there will be difficult. So I've made the difficult decision now to change my wealth from mostly dollars to mostly bitcoin (and tech investments)
A lot of generally well-off people with most of their savings in dollars / dollar-backed bonds would see their financial options reduced into this decade if this point of view is right.
Love, Your son.
p.s. sorry if i take down our family with this email.
