I studied business and economics at trinity college Dublin back in the early 90s.
Recently I asked a bunch of my former classmates, “what is the best way to buy bitcoin in Ireland?”
Some helpful attempts to answer the question that I appreciated.
But..one of my former classmates who has spent his entire career in stock portfolio management here in the US asked me about Bitcoin and told me about how
skeptical he is.
I risked the unwanted hijacking of our Group whatsapp chat by making a sober case for the values of bitcoin and my only ask was that he and others spend at least 10 hours to Really study it.
What was frustrating from our conversation:
He finished off our back and forth with, I am still not convinced. - well, duh! All I was suggesting is don’t dismiss bitcoin out of hand and tear yourself away from following Liverpool or man united for a few hours in the next few months! Ffs.
But the thing that really stuck with me is what he wrote in regards to inflation:
“The inflation protection ( from bitcoin) is a fallacy. Inflation doesn’t come from the currency you pay with. It comes from the price the seller charges. That will come from the cost of inputs, not how you pay.”
And that’s when I realized these people are living in a curated dream world l. In high school and at trinity we were spoon fed Keynesian economics and this wizard of oz shit - it isn’t money printing that causes inflation- that is inconceivable!
Almost all my friends in Ireland tell me bitcoin is a Ponzi scheme. Just one that happens to be working.
That’s when I realized I am completely wasting my breath!
I don’t have the patience of Michael saylor and others. I will let them at it and they will get bitcoin at the price they deserve.
foggydew
npub1un…tye92
2024-10-08 03:40:00
Author Public Key
npub1un32yxvvnymf2ykn3mavcs628lqlrfm0wl2pvy42e0fs9hqknzas6tye92Published at
2024-10-08 03:40:00Event JSON
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"content": "I studied business and economics at trinity college Dublin back in the early 90s. \n\nRecently I asked a bunch of my former classmates, “what is the best way to buy bitcoin in Ireland?”\n\nSome helpful attempts to answer the question that I appreciated. \n\nBut..one of my former classmates who has spent his entire career in stock portfolio management here in the US asked me about Bitcoin and told me about how\nskeptical he is. \n\nI risked the unwanted hijacking of our Group whatsapp chat by making a sober case for the values of bitcoin and my only ask was that he and others spend at least 10 hours to Really study it. \n\nWhat was frustrating from our conversation:\nHe finished off our back and forth with, I am still not convinced. - well, duh! All I was suggesting is don’t dismiss bitcoin out of hand and tear yourself away from following Liverpool or man united for a few hours in the next few months! Ffs.\n\nBut the thing that really stuck with me is what he wrote in regards to inflation:\n\n“The inflation protection ( from bitcoin) is a fallacy. Inflation doesn’t come from the currency you pay with. It comes from the price the seller charges. That will come from the cost of inputs, not how you pay.”\n\nAnd that’s when I realized these people are living in a curated dream world l. In high school and at trinity we were spoon fed Keynesian economics and this wizard of oz shit - it isn’t money printing that causes inflation- that is inconceivable! \n\nAlmost all my friends in Ireland tell me bitcoin is a Ponzi scheme. Just one that happens to be working. \n\nThat’s when I realized I am completely wasting my breath! \n\nI don’t have the patience of Michael saylor and others. I will let them at it and they will get bitcoin at the price they deserve.",
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