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Bitcoin: A Digital Commodity That Can Increase Your Purchasing Power

Bitcoin is a digital currency that can credibly enforce monetary policy. It's an asymmetric bet in an insane world.


This transcript is an excerpt from the "Bitcoin Magazine podcast" hosted by P andQ. This episode features Dylan LeClair, Bitcoin Magazine Pro discussing the asymmetric wager that is bitcoin.

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Dylan LeClair I think there might be some short-term imbalance in dollars. The only reason I care about this is because, on one side of the coin, my goal is to acquire as many bitcoins as possible. Because I believe that in a decade or so of eroding globalization and the end of a credit supercycle, the reality will be (that) the people will demand — governments, politicians, central bankers, will abide –to print the currency into insignificance.

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So I believe that this is the end game. Bitcoin is a digital, synthetic commodity that you can send around the globe. It has a marginal production costs. This is literally going straight up, to the right — with tons of volatility but the long-term trends… You can't even calculate marginal production cost because its marginal and some people will make it for zero input costs…

All over the globe, there's an incentive to use excess energy for Bitcoin mining. The marginal production cost, due to the bitcoin supply schedule and because of the difficulty adjustment, will increase as the hash rate rises to the moon. As the miners become more efficient and better, and hash rates continue to go up, you'll see the marginal cost of bitcoin programmatically increasing as issuance increases to zero and difficulty continues to climb.

So I think that's the upside to that. If it's a digital commodity that credibly enforces central bank monetary policy in a world that has gone mad, then gold has been totally captured by paper markets.

This is a huge opportunity. If the thesis holds true, you could increase your purchasing power by as much as a hundred.

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By: Bitcoin Magazine
Title: Bitcoin: A Digital Commodity That Can Increase Your Purchasing Power
Sourced From: bitcoinmagazine.com/markets/bitcoin-increases-your-purchasing-power
Published Date: Sun, 11 Sep 2022 07:00:00 GMT

Did you miss our previous article…
https://altcoinirareview.com/nigerian-blockchain-startup-bitmama-closes-2-million-pre-seed-round/

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