My response to the recent Doomberg article on Bitcoin.
In my estimation the point of holding bearer assets like bitcoin, and gold for that matter, is to store some portion of one's wealth outside the system. Obsessing over how the asset will be converted to fiat undermines the whole premise. Of course governments will try to cut off access to exit ramps. This is why we want some assets outside the system. Unlike gold, bitcoin is easily divisible and transportable. One can transact P2P easily without the need of fiat off ramps and/or one can simply take their wealth to a jurisdiction where it can be easily converted. All that is needed is a cell phone and 12 words.
gpatrickhubbard / Patrick
npub1e2…f0uze
2023-04-05 20:19:10
Author Public Key
npub1e2m0newzy4lvudt9txrxtrmmj3fgnx8njga98v5qppq6gqr6ym4qsf0uzePublished at
2023-04-05 20:19:10Event JSON
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