Oh, like buying bitcoin will somehow mysteriously solve everything that's currently fucked up in this world. I wouldn't mind going all-nighter discussing how screwed up this nation is and all the economic problems there are. But to say Bitcoin is a magic cure for all these problem is beyond me. The government will still print money to excess and the inflation will still eat into your Bitcoin profits because you still need to convert it into fiat before you go out and use it to show off your new Lambos, your new Mansions, and all your Bucketlist gettaways on Instagram, etc.
I look at this from the perspective of the butterfly effect. Imagine how much a person can accomplish if they only change one small thing in their life. Maybe they cut out eating a donut every day. All that sugar intake has crazy hormonal imbalances. They also probably put on some weight which leads to insecurity, and then affects their work productivity, and the list goes on. Cutting out that donut can have major implications 2 years down the road.
Now apply this to the banking. Imagine if Yellen just said, no more bank bailouts. Keep your deposits under $250k or else you might lose it all. For sure there will be mass panic, but its one small simply thing, and its even a rule that is already in place. All of a sudden you would major implications and knock-on effects.
Bitcoin is like turning the world upside down. It isn't just one thing, its everything all at once. Its not only cutting out a donut, but its turning your whole life around. You quit your job, you leave your shitty girlfriend. You tell negative people in your life to go fuck themselves. You cancel Netflix and instead get a gym membership. You sell your car and buy a bike. When you walk you look up instead of down. When a girl smiles at you, you don't just smile back but you talk to her. Basically, you change everything in your life that isn't working for you all at once.
But back on track, the government can't print if nobody is willing to buy the debt, so there are limits, and we are already there. If investors want bitcoin instead of treasuries, then who buys them? Will they pay a 20% yield?? How many people are there like me out there who have completely embraced bitcoin in the past 3 years? How many do you think we need to scoop up 100-200k bitcoins, if there are even that many for sale under $100k?
You see, I fully believe that when the government just gets out of the way of the private sector to fix things, the improvements will be exponential. It would be nice if some politician shrunk government out of the realization that this is the the problem, but this won't happen, so instead, the government has to be starved of revenue. When printing no longer works, governments will have to shrink. I think I just read yesterday that Gavin Newson out in California is slashing budgets because the revenue is just not coming in.
