It is kind of funny how so many bitcoiners worship that dweeb as some kind of a god (and even frequently reinterpret benevolent or well-intentioned or even 5-D chess meanings into his statements), but on the regular he either says a lot of pretty dumb shit or he is so obviously over-the-top when it comes to his narcissism.
Still, after watching Trump's talk at the Bitcoin Conference 2024, even if only a fraction of what he promised would come to pass I think it would be great for Bitcoin, and as a foreigner and holder that means more to me than other issues. Worst case, all of the promises he made are neglected or outvoted, even the fact that he just showed up at the Bitcoin Conference meant something.
--- EDIT: Not related to Trump below. ---
Overall, as inflation increases (with the threat of hyperinflation looming) in current fractional reserve banking system, considering the volume of debt and interest involved for many countries, holding Bitcoin might be the only solution for governments to slow down inflation where BTC has the potential to outperform the interest from debt. I don't know exactly how that Bitcoin financial construct would look like in the end, but either way it's the most bullish proposition I can think of at the moment, guaranteed CCMF to the moon! Think "Fort Knox" with Bitcoin.
To inflation has a very simple cause. Human demand keeps growing and all the worlds assets don’t grow.
IE. I was 7 in 1964 there were 2.5 billion people. an equal devision of peopl to earth 🌎 gave each person
1 acre of fresh water 12 acres of land and 36 acres of ocean.
in 2024 there are 8.1 billion people giving under ⅓ acres of fresh water under 4 acres of land and under 12 acres of ocean.
this is the driving force of inflation demand grows like mad and resources are constant.
yeah tech (bitcoin ,computers ) can help use the fixed resources better. but they are not making more earth
That doesn't make sense to me.
If demand grows and supplies are constant we should only have deflation, such as the BTC price.
THUS in theory that deflation should be making any currency more valuable.
Inflation (= money printing) seems to exist exactly to try to ebb that, but in many cases that does not work
and the balance seems to be impossible get right.
Either governments inflate too much or too little.
And even if the balance appears to be right in some areas other financial, societal and physical instruments
have been invented to make prices go even more crazy for some sectors:
- Red tape with regards to what you could do yesterday but not tomorrow => Now you need a $50,000 dollar EV as an ICE car is not allowed here
- Women can now all work and earn near the same as men so couples can both pay for a mortgage -> Massive increase in house prices
- Mass immigration into certain areas due to the world becoming better connected and everyone seeing the grass is probably greener over there
- Petro Dollar has made US very rich per capita but it has had negative effects elsewhere, but this strength of this seems to be reducing
That's my take on it any way.