It's below 1 now.

Actually the median NW is higher in the UK

It's interesting how just a couple of years ago everyone was saying "Google missed out on the opportunity to win the AI race and they're going to become another Kodak, Nokia etc."

And now, with all the data they have from Search, YouTube, Gmail etc. their latest Gemini is smashing it and leaves OpenAI in the dust. But it's sad that AI is such a centralizing power.

This is partly due to how many disciplines Bitcoin touches, and no one can be an expert in all of those.

Some bitcoiners will read Saif's books, which focus on the monetary side and talk about Austrian economics, and they'll conclude Bitcoin is the perfect form of money, with all the benefits of gold and none of its drawbacks, while skimming through the technical aspects and ignoring issues like the security budget, miner centralization, the risk of contentious forks, quantum threat etc.

Most of Saif's readers won't read Micah Warren for example, and most math heads are probably not that interested in reading Mises, and even less so in anything to do with politics or sociology.

Bitcoin is too complex for most bitcoiners to understand, and there is reflexivity in it, e.g. the differences in people's understanding can affect its future.

Also, Bitcoin adoption relies on proselytizers and orange-pillers, who understandably tend to idealize, simplify, reduce nuance to catchy phrases etc. to reach and inspire the masses.

A collapse scenario: https://fxtwitter.com/ActuallyClimber/status/1985835237947936871

Politicians will do anything, no matter how absurd, to prove themselves useful.

@ClimbThatLadder, who has a TradFi background and is probably far from what many on here would consider a 'true bitcoiner', posted a comment on X about how Strategy could fail. A good read.

Stem cells and organs will definitely be in demand. It should go hand in hand with the biological immortality Ray Kurzweil predicts.

Welcome to the club of the infected!

It depends. If it's your wife, it may be hard to hide, and you may have reasons not to.

And for that reason, if I become wealthy, I won't tell anyone and I'll try not to show it. The latter may be harder. I'm in r/FIRE, which despite all its ills, teaches that one thing well.

One of the most obvious signs (and greatest benefits) of wealth is retirement. The usual advice is to tell people you're a freelancer working from home, a portfolio manager or something like that.

Yes, prices do something and I wasn't implying coffee is going down-only against BTC.

But rather that it's going asymptotically to zero, and the particular 10x rise is very unlikely. The drawdowns are already limited to 80% or less. If coffee goes up by 10x, people will switch to tea or caffeine pills, because they will compare what else the price of coffee can buy. Very few will spend a week-long vacation's worth on a cup of coffee. And if everything goes up 10x against BTC while bitcoin is mainstream (and therefore less volatility is expected) then it's quite a shock and something serious must have happened. E.g maybe someone has hacked Satoshi's wallet with quantum and sold the coins. But with BTC being mainstream, those coins would likely be scooped up quickly.

Our productivity is increasing. If I'm 10x more productive than people were in 1968, but I can't buy 10x more stuff, then someone is benefiting at my cost.

Those selling their labour are the ones being screwed over.

I don't see such a jump in price happening. You can grow more coffee beans, machines to harvest them will only get cheaper, roasting them will only get cheaper and robot waiters will only get cheaper. They don't exist yet and we still use this stupidly expensive human labour, but as soon as they start existing, they will be cheaper and only get cheaper.

Now compare that to the difficulty of making more bitcoin...

Criminals are some of the most valuable people. I support Bitcoin, because I want to support crime.

Strike loans don't create new money. It's money already in existence.

That said, creating more fiat is good for the world, because it's bad for fiat.

Funny formulation, I wouldn't even know what is being asked. If you asked me "Are you concerned that governments will regulate it?", that would make much more sense.

I only update my apps manually and don't do it often. My version is 3.1.5.

Is it public too if you've only ever used it for LN transactions and no on-chain?

Yes, those who understand the difference are a 1% minority.

They'll read the headline and think the point of Bitcoin is skulduggery.

It's interesting how speculators' money can benefit society, sometimes even when they lose. It has parallels with how prediction markets provide information (= a public good).