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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 375.96-1.8%Nov 14 4:00 PM EST
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To: Julius Wong who wrote (167055)1/13/2021 9:50:12 AM
From: Follies1 Recommendation

Recommended By
Julius Wong

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Think of a Bitcoin as representing 100 acres in America in 1493. All of the Bitcoins in circulation are east of the Mississippi and everything west are bitcoins (acres) the miners have yet to discover. The blockchain represents ownership of the parcels and like Bitcoin the 100 acre parcels can be subdivided and small pieces can be traded. Back in Spain or Holland people are trading the 100 acre bitcoins on the block chain and the price keeps rising because everyone wants a piece of the new world. None of those traders will ever get to use the land but they sense it has value and bid the price up.

Of course the land does have value, but in today’s world imagine a Bitcoin represents land on the moon, or Mars, or cyberspace. People are bidding it up because they want a piece of the moon or Mars or cyberspace, knowing they themselves will never be able to use it, but it feels like it has value.

If I have something that you don’t have and I can convince you that you want it, you will pay me for it.

Tom Sawyer and painting the fence. Haim doesn’t want to paint the fence.

The last line in this is good. Stay for the end.
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