I was running an internet company in the 90s and even after Netscape went public and had a big surge of use of the internet. There was a period there around 1997 or so, where people like Paul Krugman of the New York Times and others were questioning whether or not this internet thing was going to survive or what was just a fad fax machine. Then we saw that hockey stick moment that’s the character of exponential growth. You’ve got that doubling effect that is factoring that exponential growth.
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So, now I think we’re at that hockey stick moment, where you see in the next 6-9 months a doubling of usage from 150 million to 300 million. Then pretty soon is going to be over a billion and then Bitcoin will be ubiquitous and entrenched and part of everyday life. People won’t even be thinking about it. They’ll be using it, but they won’t even know they’re using it, just like people use the internet. They don’t really think about the protocol that underlies the internet and how it works and why it works. They just use. It is the same thing with Bitcoin. It just becomes part of the fabric of our reality – it’s happening really fast. But it has a price and that is what people focus on: if it’s not moving in any given minute of every given day in the direction. People want it to move. It is not happening as fast as it was with the internet. It wasn’t actually a price that was traded in terms of where it was in the adoption cycle. Having said that I’m sure a lot of people would have loved to have the opportunity to actually buy part of the internet which is what you can do with Bitcoin. You’re actually buying something as big as the internet, as ubiquitous as the internet, but you’re actually able to own a piece of it.
So that’s the big difference and that is remarkable in a lot of ways. Well, the design of the protocol invites everyone to join and it also invites attacks and the game. Theoretical aspects of it are intact and they’re working beautifully. So, you want as many people to be participating as possible. You want both Russia and Ukraine to buy Bitcoin. You want every country to be buying it, you want Wall Street buying it and even Wall Street Trading, etc. They want to create on top of the Bitcoin stack.
The greatest thing we have is the ability to pull our keys off the exchanges. So, if they want to create a multi-tiered ponzi scheme based on a Bitcoin base layer. They do in the gold market, for example, which hasn’t had good price discovery now for over 10-15 years. We have the ability to pull the private keys off the exchange, essentially, and collapse any major ponzi scheme. There will be credit cycles. I mean bitcoin will still be used as collateral. There’s a lot of products here that are being introduced for mortgages and other types of leveraged products and that’s fine. Its pristine collateral Michael Saylor is now borrowing against his Bitcoin position to buy Bitcoin. So, he’s engaged in what I’ve said many times. He’s engaged in a leveraged attack against the US dollar because if you can borrow money at these artificially low rates that the central banks have kept so low. As part of a failed bank policy, now for years and you can buy Bitcoin, you’re going to exploit this incredible arbitrage between the central bank totally mishandling policy for over 20 years.
The presence of this pristine perfect money Bitcoin and so Michael Saylor sees that and he’s taking advantage of that when I talked to Ricardo Celanas Pliego about this. He said he’s 60 bitcoin and that’s a baby position. You need to get 120 Bitcoin. Everything you have, you need to put it up as collateral and go all in. He laughed at that but it’s hard to argue with a guy while you’re on his jet. Clearly, he’s doing something right with the lack of testosterone. Testosterone in society is causing a collapse in society. These other countries are not afraid of balls and they’ll be in charge.
So, America has to decide: do we want to be taking orders from other countries because we don’t like balls, or are we going to man up and say: “We have balls and we’re not going to take orders from India, China, Russia, and Iran.” We’re at the risk of being subservient housekeeping house rent boys. There’s a nation of rent boys in America that’ll be servicing Iranian, Chinese, Russian, and Indian men and women. That’s what we’re going to end up doing, unless we get our balls out and start to be. We have values here so bitcoin and everything about Bitcoin represent everything that you would find in the constitution, in the bill of rights and everything that we have fought for in this country for over 240 years. The easy thing to do is just to buy Bitcoin, accumulate bitcoin, promote Bitcoin and it’s like having balls if you’re a woman and you want to have balls and you want to compete like a man, buy Bitcoin. If you’re a man and you want to stop being without balls or just have bigger ones – buy Bitcoin and you will take care of your problem. So, Bitcoin is basically our balls that’s I think what we’re saying here.
This article is a transcription of a video made by Jamie Tree