Obelix

The thing we call money is just an information system for labor allocation. What actually matters is making goods & providing services. We should look at currencies from an information theory standpoint. Whichever has least error & latency will win.

#Bitcoin is an open, fair, & equitable monetary network. It improves as new members contribute their human & financial capital, just like every country, state, city, agency, company, club, church, party, union, cooperative, association, school, institution, ideology, & culture.

Bitcoin traded near $42K on Friday and near $30K on Monday. An asset that drops 28% over a weekend is not a safe-haven, a store of value, or a viable hedge against #inflation. If you want to gamble on #Bitcoin, buy Bitcoin. But if you want to hedge against inflation buy #gold.

Bitcoin proponents claim that #Bitcoin represents the greatest transfer of wealth in history. I partially agree. Not sure it's the greatest but a large wealth transfer is taking place. But the wealth is being transferred from the people who buy Bitcoin to the people who sell it.

Bitcoin is up 4x in 2020, and most HODLers expect the rise to continue in 2021. But that's what they thought at the end of 2017 as Bitcoin finished the year with a 14x gain. But 2018 was #Bitcoin bear market, as its price fell by 70%. What if history repeats? What if it's worse?

Our statement regarding recent market participant activity in response to the SEC’s lawsuit. on.ripple.com/38LWz9w

Bitcoin does not have to be a corporation to be a security. It's does not need any officers. All the SEC has to allege is that people buy #Bitcoin in anticipate of selling it for a profit, and that others profit from their efforts to help generate profits for all Bitcoin owners.

#Ripple just ripped below 20 cents. It traded above 60 cents earlier this month. Almost 70% of its market cap gets erased in less than a month based solely on the SEC's allegation that it's a security. What happens to the price of #Bitcoin if the SEC alleges that it's a security?

According to Max Keiser I oppose Bitcoin because I'm a fiat addict. In the bizarro world of Bitcoin #gold is the new fiat. Clearly @maxkeiser doesn't understand the concept of fiat, or how it differs from legitimate currency or actual money. That explains his #Bitcoin fixation.

Bitcoin is a stablecoin. It's protocol and monetary policy is stable. The fluctuating price represents the ebbs and flows of the world discovering Bitcoin's value.

Bitcoin is hitting new record highs, as its dominance of total crypto market cap rises to 69.3%. It hasn't been above 70% since Mar. of 2017. As regulators target altcoins, speculators are taking cover in Bitcoin. Not for long as #Bitcoin will eventually be in the crosshairs too.

In 100 years will #Bitcoin be remembered as the new Ponzi. Maybe instead of being conned, people will be bitcoined instead. martincwwalker.medium.com/im…

#Bitcoin promoters have incorporated Hans Christian Andersen into their sales pitch. As with the Emperor's clothes only very intelligent people can see Bitcoin's value. By pretending to see it people can show how smart they are. Those who refuse to pretend are too dumb to get it.