This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. They are giving $2100 to anyone who deposits 1 BTC. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out.Beyond Satoshi, there might not be any other OG in the Bitcoin space that deserves more praise and honor than the great Hal Finney. Unfortunately, he has passed away, but his legacy still plays a large role in the space today. Finney was the first Bitcoin adopter. He was the first person to receive Bitcoin from Satoshi Nakamoto, driven by curiosity and a passion for revolutionary financial technologies. Finney was both an early speculator, contributor, and auditor of Satoshi’s great work. Take a look at the excerpt below I found from Finney’s first email to Satoshi.“Bitcoin seems to be a very promising idea. I like the idea of basing security on the assumption that the CPU power of honest participants outweighs that of the attacker. It is a very modern notion that exploits the power of the long tail. When Wikipedia started, I never thought it would work, but it has proven to be a great success for some of the same reasons…. Unfortunately, I am having trouble fully understanding the system. The paper describes key concepts and some data structures but does not clearly specify the various rules and verifications that the participants in the system would have to follow.”It was messages like these that kept the Bitcoin story alive and expanded upon the white paper masterpiece. Finny was originally skeptical and unsure of the premises of Bitcoin. Satoshi took the time to explain to Finney how the network works, which has continued to serve as a guide for the community today. After countless back and forth threads over the span of many months, Finney turned from skeptic to a believer, and his entire transformation can be read. Take a look at what he predicted Bitcoin could be below.“An amusing thought experiment, imagine that Bitcoin is successful and becomes the dominant payment system in use throughout the world. Then the total value of the currency should be equal to the total value of all the wealth in the world. Current estimates of total worldwide household wealth that I have found range from $100 trillion to $300 trillion. With 20 million coins, that gives each coin a value of about $10 million.”At the time Finney worked through these ideas, Bitcoin didn't have any real value, Satoshi was sending coins to early adopters for free. The asset wasn't listed on exchanges, and it wasn't used for transactions, it was essentially worth as much as an arcade token but built on solid economic principles and ideals. Nonetheless, Finney and other early adopters began to see the vision, becoming disciples of a new money. Since this post was made, the total household wealth has grown significantly over the past decade, meaning if Finney’s prediction is still viable, Bitcoin could realistically be worth far more than $10 million per coin. Predictions like these are fun, but they depend on a lot of chips to land in the right place. I don't doubt their possibility, but in no way count on them happening - you shouldn't either. What I do believe is likely, is that this decade will prove that there is no greater story in financial history than the advent of Bitcoin, and I am so fortunate to share it. RIP Hal Finney.IF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.COI will be live streaming at 1:30 PM EDT. I do not have the exact link, but you can always go to https://youtube.com/scottmelker and find it there!In This Issue:$10 Million Per Bitcoin?Bitcoin Thoughts And AnalysisLegacy MarketsA Decentralized Bitcoin Exchange Is On The WayThe IMF Doesn't Understand CryptocurrenciesEl Salvadorans Protest Against BitcoinWhales Are Accumulating BitcoinNews VideoMy Recommended Platforms And Tools
The Wolf Den #318 - $10,000,00 Per Coin?
The Wolf Den #318 - $10,000,00 Per Coin?
The Wolf Den #318 - $10,000,00 Per Coin?
This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. They are giving $2100 to anyone who deposits 1 BTC. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out.Beyond Satoshi, there might not be any other OG in the Bitcoin space that deserves more praise and honor than the great Hal Finney. Unfortunately, he has passed away, but his legacy still plays a large role in the space today. Finney was the first Bitcoin adopter. He was the first person to receive Bitcoin from Satoshi Nakamoto, driven by curiosity and a passion for revolutionary financial technologies. Finney was both an early speculator, contributor, and auditor of Satoshi’s great work. Take a look at the excerpt below I found from Finney’s first email to Satoshi.“Bitcoin seems to be a very promising idea. I like the idea of basing security on the assumption that the CPU power of honest participants outweighs that of the attacker. It is a very modern notion that exploits the power of the long tail. When Wikipedia started, I never thought it would work, but it has proven to be a great success for some of the same reasons…. Unfortunately, I am having trouble fully understanding the system. The paper describes key concepts and some data structures but does not clearly specify the various rules and verifications that the participants in the system would have to follow.”It was messages like these that kept the Bitcoin story alive and expanded upon the white paper masterpiece. Finny was originally skeptical and unsure of the premises of Bitcoin. Satoshi took the time to explain to Finney how the network works, which has continued to serve as a guide for the community today. After countless back and forth threads over the span of many months, Finney turned from skeptic to a believer, and his entire transformation can be read. Take a look at what he predicted Bitcoin could be below.“An amusing thought experiment, imagine that Bitcoin is successful and becomes the dominant payment system in use throughout the world. Then the total value of the currency should be equal to the total value of all the wealth in the world. Current estimates of total worldwide household wealth that I have found range from $100 trillion to $300 trillion. With 20 million coins, that gives each coin a value of about $10 million.”At the time Finney worked through these ideas, Bitcoin didn't have any real value, Satoshi was sending coins to early adopters for free. The asset wasn't listed on exchanges, and it wasn't used for transactions, it was essentially worth as much as an arcade token but built on solid economic principles and ideals. Nonetheless, Finney and other early adopters began to see the vision, becoming disciples of a new money. Since this post was made, the total household wealth has grown significantly over the past decade, meaning if Finney’s prediction is still viable, Bitcoin could realistically be worth far more than $10 million per coin. Predictions like these are fun, but they depend on a lot of chips to land in the right place. I don't doubt their possibility, but in no way count on them happening - you shouldn't either. What I do believe is likely, is that this decade will prove that there is no greater story in financial history than the advent of Bitcoin, and I am so fortunate to share it. RIP Hal Finney.IF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.COI will be live streaming at 1:30 PM EDT. I do not have the exact link, but you can always go to https://youtube.com/scottmelker and find it there!In This Issue:$10 Million Per Bitcoin?Bitcoin Thoughts And AnalysisLegacy MarketsA Decentralized Bitcoin Exchange Is On The WayThe IMF Doesn't Understand CryptocurrenciesEl Salvadorans Protest Against BitcoinWhales Are Accumulating BitcoinNews VideoMy Recommended Platforms And Tools