This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out.IF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.COOne of my favorite pieces written on Bitcoin is The Bullish Case For Bitcoin, by Vijay Boyapati. In his most recent book, Boyapati covers the evolution of money in 4 stages: collectible, store of value, medium of exchange, and unit of account. It is safe to say that Bitcoin is clearly not in stage one as a collectible, nor stage 4 as a unit of account. Bitcoin is way past the point of novelty and far from being understood as money that goods are commonly priced in. So where does that leave Bitcoin?According to Boyapati, “Bitcoin is currently transitioning from the first stage of monetization (collectible) to the second stage (store of value). I think this is accurate based on the average consensus around Bitcoin, but slightly behind based on the objective role Bitcoin has taken on. In our Twitter bubble, Bitcoiners in the know commonly refer to Bitcoin as a store of value, but that does not mean the average Robinhood trader understands rising inflation rates, fiat debasement, and balance sheet crises. At the end of the day, money is objectively whatever its users define it as, typically meeting certain requirements. If the world were to wake up today and price everything in Bitcoin and accept it as legal tender everywhere, then it would skip to stage 4 purely based on consensus. The reality is that the public is just picking up on Bitcoin, so it probably is transitioning between stage 1 and 2, as Boyapati points out. Here is what I found most interesting about his final statements. Boyapati pointed out that gold took centuries to transition from stage 1 to stage 2. Boyapati predicts Bitcoin will achieve this within a few years. The significance here is that nobody in history has witnessed the real-time monetization of a good, as is happening with Bitcoin right now. You could also argue that the news from El Salvador scratches the surface of Bitcoin moving towards stage 3, as citizens of that country will begin to regularly interact with the asset. Bitcoin is a living case study of the adoption of new money, happening in real-time at an accelerated rate. I plan to put out a blog on Boyapati’s amazing book at some point in the future - I can’t recommend it enough.Here is the full Medium:https://vijayboyapati.medium.com/the-bullish-case-for-bitcoin-6ecc8bdecc1Chart Request Live Stream at 2 PM EST. Please follow the rules. I cannot take requests at any other time, so if you send them during a different window they may not get charted. Remember, no more email requests.1 chart per person, per weekSubmit your request between now and 1 PM EST.You can only submit your request through the link below.If it is not on TradingView, there is a chance I will not able to chart it.I can not guarantee I will do your chart, I will do my best.Chart Request FormStream link: https://www.youtube.com/watch?v=I-UBb7IPYXoIf you are a new member, please refer to Issue 236 (you can click on it here - https://www.getrevue.co/profile/TheWolfDen/issues/the-wolf-den-236-think-like-a-whale-592727) for instructions on how to make my charts your own.In This Issue:The Evolution Of Money And BitcoinEl Salvador Puts Bitcoin Back On The Map - IntoTheBlockBitcoin Thoughts And AnalysisMarkets Brace For FED ReportMajor Investors Back BitwiseFox Is Bullish On NFTsRetail Selling Into The Hands Of Eager WhalesMy Recommended Platforms And Tools
The Wolf Den #265 - The Evolution Of Money
The Wolf Den #265 - The Evolution Of Money
The Wolf Den #265 - The Evolution Of Money
This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out.IF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.COOne of my favorite pieces written on Bitcoin is The Bullish Case For Bitcoin, by Vijay Boyapati. In his most recent book, Boyapati covers the evolution of money in 4 stages: collectible, store of value, medium of exchange, and unit of account. It is safe to say that Bitcoin is clearly not in stage one as a collectible, nor stage 4 as a unit of account. Bitcoin is way past the point of novelty and far from being understood as money that goods are commonly priced in. So where does that leave Bitcoin?According to Boyapati, “Bitcoin is currently transitioning from the first stage of monetization (collectible) to the second stage (store of value). I think this is accurate based on the average consensus around Bitcoin, but slightly behind based on the objective role Bitcoin has taken on. In our Twitter bubble, Bitcoiners in the know commonly refer to Bitcoin as a store of value, but that does not mean the average Robinhood trader understands rising inflation rates, fiat debasement, and balance sheet crises. At the end of the day, money is objectively whatever its users define it as, typically meeting certain requirements. If the world were to wake up today and price everything in Bitcoin and accept it as legal tender everywhere, then it would skip to stage 4 purely based on consensus. The reality is that the public is just picking up on Bitcoin, so it probably is transitioning between stage 1 and 2, as Boyapati points out. Here is what I found most interesting about his final statements. Boyapati pointed out that gold took centuries to transition from stage 1 to stage 2. Boyapati predicts Bitcoin will achieve this within a few years. The significance here is that nobody in history has witnessed the real-time monetization of a good, as is happening with Bitcoin right now. You could also argue that the news from El Salvador scratches the surface of Bitcoin moving towards stage 3, as citizens of that country will begin to regularly interact with the asset. Bitcoin is a living case study of the adoption of new money, happening in real-time at an accelerated rate. I plan to put out a blog on Boyapati’s amazing book at some point in the future - I can’t recommend it enough.Here is the full Medium:https://vijayboyapati.medium.com/the-bullish-case-for-bitcoin-6ecc8bdecc1Chart Request Live Stream at 2 PM EST. Please follow the rules. I cannot take requests at any other time, so if you send them during a different window they may not get charted. Remember, no more email requests.1 chart per person, per weekSubmit your request between now and 1 PM EST.You can only submit your request through the link below.If it is not on TradingView, there is a chance I will not able to chart it.I can not guarantee I will do your chart, I will do my best.Chart Request FormStream link: https://www.youtube.com/watch?v=I-UBb7IPYXoIf you are a new member, please refer to Issue 236 (you can click on it here - https://www.getrevue.co/profile/TheWolfDen/issues/the-wolf-den-236-think-like-a-whale-592727) for instructions on how to make my charts your own.In This Issue:The Evolution Of Money And BitcoinEl Salvador Puts Bitcoin Back On The Map - IntoTheBlockBitcoin Thoughts And AnalysisMarkets Brace For FED ReportMajor Investors Back BitwiseFox Is Bullish On NFTsRetail Selling Into The Hands Of Eager WhalesMy Recommended Platforms And Tools