Jeff Booth

…the rules change on the asset. Take a gold as it centralizes and broken money. It can't be resolved. So the only way to resolve that is change the rules of gold. - Right. - And so over and over and over, you have this thing that centralizes rules change. And the centralization, and the central ization from us, like nobody right now, nobody in the world is gonna vote for a free market because prices would cascade and fall and their houses would go to zero. The entire system rests on debt that's insolvent. Think through that. - And because the money is broken, we've seen other assets become financialized as a result of that. And we've seen the monetary premium and all sorts of assets. - So every single asset is overpriced because the money is underneath it is already insolvent. But we pretended solvent, knowing the only way to create solvency is to base the currency more. And everybody is trading in that game. And they're trading Bitcoin in the same game. They're actually pricing Bitcoin in that same game. It's so ludicrous when you know the thing is wrong. And then people tell themselves and this is a hypocrisy in us, right? What they're trying to do is outrun everybody else in a zero sum game, right? And they're taking more and more risk by trying to outrun everybody else in the zero sum game and they don't know it. And all they could do, every dollar they spend in that fiat…From: this video · 3 claims mined from it

…- I don't, again, I don't really care what others do. - I know, but we're specifically talking about some of the cultural sort of norms that are emerging or established in Bitcoin. - Yeah, I guess I look at what I determine risk, right? - Let me rephrase it. Sorry to interrupt you. Do you think capital allocation to the equity markets is a legitimate form of investment in the era of Bitcoin? - It can be in certain times, but I believe that the long-term IRR of Bitcoin is going to be about 40%. - Long-term? - Yeah, because I believe it's going to - - I think it's gonna accelerate. - I think it's every single thing is gonna be repriced in Bitcoin. Everything over time. It is a protocol repricing the world, and most people are still pricing it from the other system. And so, and it doesn't matter if all prices fall and Bitcoin falls less, or if all prices rise and Bitcoin rises more, I think it's repricing everything over time. - I'm so torn between whether Bitcoin rises in parallel or Bitcoin sucks capital away from, I'm torn about that. - Yeah, but it almost doesn't matter. - It doesn't matter. - Because it makes no difference. You have a protocol decentralized secure bounded by energy that isn't changing. If it doesn't change,…From: this video · 3 claims mined from it

…Don't worry about capital allocation. Don't worry about any other productive means of capital allocation. I find that rather defeatist actually. - So- - Have you noticed- - I don't, again, I don't really care what others do. - I know, but we're specifically talking about some of the cultural sort of norms that are emerging or established in Bitcoin. - Yeah, I guess I look at what I determine risk, right? - Let me rephrase it. Sorry to interrupt you. Do you think capital allocation to the equity markets is a legitimate form of investment in the era of Bitcoin? - It can be in certain times, but I believe that the long-term IRR of Bitcoin is going to be about 40%. - Long-term? - Yeah, because I believe it's going to - - I think it's gonna accelerate. - I think it's every single thing is gonna be repriced in Bitcoin. Everything over time. It is a protocol repricing the world, and most people are still pricing it from the other system. And so, and it doesn't matter if all prices fall and Bitcoin falls less, or if all prices rise and Bitcoin rises more, I think it's repricing everything over time. - I'm so torn between whether Bitcoin rises in parallel or Bitcoin sucks capital away from, I'm torn about that. - Yeah, but it almost doesn't matter.…From: this video · 3 claims mined from it