Daily Ramble
“The Age of Honor” is coming. I’ve been hearing that phrase the last couple of weeks — yes, my mind talks to me. The information I’ve been tuning into has convinced me we’ll be entering this Age of Honor in the not-so-distant future. I’ll attempt to weave the threads together to get us there. Hit me up if I lose you.
For the last hundred years or so, we’ve lived in the Industrial Age. The Industrial Age cemented the idea of jobs as both a personal right and an obligation for governments to provide. Our family’s livelihoods were dependent on the money provided by jobs. On the flip side, we had no choice but to accept the twin parasitic forces of inflation and coercive taxation on our money. Money is a proxy for our life force since it encapsulates value that we exchanged our limited time to acquire. Now in the Information Age, encryption technology has colluded with Satoshi Nakamoto to give us Bitcoin. For the first time since the nation-state's dawn, the common wo/man has an unconfiscatable tool to exit his/her wealth from the system. Since Bitcoin is outside the control of any single government, those who can afford to move to jurisdictions where they receive better tax treatment are likely to do so. The age of voting with our feet is commencing.
Why? Because we’re on the cusp of a new billionaire class born from Bitcoin wealth. These individuals are the ones that bet early and big on Bitcoin. They did it out of a distaste for government fiscal and monetary policy and a conviction in an internet native money as the solution: digital gold to right the wrongs of governments leaving analog gold.
It’s 100% clear that these individuals will readily vote with their feet, going to jurisdictions that cater to them. Governments will readily do so to inject their local economy with this newfound wealth. For the first time, nation-states will experience competition for their goods and services. The relationship between citizens and their nation-state will shift. While it will be bumpy for nation-states to recognize they compete for a tax base, a healthier relationship between citizens and states is all but certain. If the history I’ve heard is accurate, in another 100 years, we will arrive at taxation being at the 10-15% rate that gave rise to the greatest civilizations. That feels about right.
Hang with me as I get us to the Age of Honor. We’re bookmarking it here since no one likes someone who rambles on too long.
Favorite Thing on the Interwebs Today
I thought this was computer graphics the first time I watched it.
Bitcoin Price Prediction
Yesterday: $49k - $59k
Today: $49k - $57k
Tomorrow: $49k - $59k
The dip on Monday has now entered a more extended consolidation period. Since the price has not experienced another sell-off, the odds are that we will continue to range between the low of $53k and $57k before we continue the bull run. After yesterday’s newsletter went out, the price appreciated to $57k, where it found a temporary top and has now come back to $54k. All-in-all, nothing surprising here, and with bullish sentiment cleared and Bitcoin flowing out of exchanges, though we may still have another leg down to the $49k - $52k region, the odds are growing that we’re finding the floor here.
Bitcoin Ed Bite
Q: Is Bitcoin illegal?
A: Doubtful.
It has only been made illegal in 5 countries in the world.
Since Bitcoin is decentralized, there is no way for any government to shut it down. When a government makes Bitcoin illegal, it is choosing to opt-out of it as a country. But, because anyone with an internet connection can access the Bitcoin network, it’s tough to stop its use. This is one of many reasons why governments have little ability to control the spread of Bitcoin.
Thanks for reading,
Kent
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