That is what I believed for four years, from 2017 until 2021. I began my investing and finance journey with typical courses, classes, and academia on the subject. I thought I was smart. I outperformed the stock market for three years by investing in a basket of mutual funds. I studied many financial and economic models, and I was pretty sure I knew most of what I needed to know.

Then I asked the question; “what if I’m missing something here about this Bitcoin thing?”

Pretty soon it became clear to me that I had not sufficiently debunked it as the “scam” I perceived it to be. I went on a mission to prove it irrelevant and destined to zero.

After far too long, I finally came to the realization that I could not find a way to kill it. I remember the moment Bitcoin finally struck me, I remember where I was sitting and the wave of excitement and terror that washed over me. I will never forget it.

Now that it has been years since I first began truly going down the rabbit hole, a new challenge has appeared; explaining it to others so that they too may understand the historical significance of this monetary black hole that we happen to call “Bitcoin.” I have given lectures, presentations, many zoom calls, and messages to a wide variety of folks with diverse backgrounds.

I have found that explaining Bitcoin first and foremost from a technologist’s or an engineer's perspective, is far more effective than explaining it from a banker’s or a politician’s perspective.

The undeniable reality is that technology is progressing at an absurd pace. As crazy as it sounds, we have less in common with an average person from the year 2123 than with a Roman citizen from the year 23, even though the future person is 20x closer to us in time.

While that may sound ridiculous, let’s put ourselves in the shoes of someone living in 1923. Even though the person in 1923 is only 100 years before our world, they have more in common with the Romans than we do today with them.

Think about it, similarities between 1923 and year 23 are abundant. Childbirth in both eras is quite deadly, malaria is a real threat, most infants don’t make it to adulthood, air conditioning is an absurd concept, 80% of humanity is still in poverty.

Additionally, most people have never seen a picture of (let alone been to) a foreign land. Life expectancy is similar, neither eras have “entertainment” besides reading (assuming they can read), wars are fought face to face and most death is via disease. The horse is the most common form of transportation, education beyond basic farming and a trade is extremely rare.

Besides a local community of 500 individuals or so, it is rare to interact with anyone from the outside world, and most communication is done in real time, face to face.

The world of 1923 is wildly advanced compared to the ancient Romans in many ways, but both are ancient worlds compared to the year 2023. We weren’t even aware of the existence of galaxies until 1923, and today we have documentation of black holes and gravitational waves.

Similarly, the world of 1823 or any other century seems outdated/advanced by its bordering centuries.

The world of 2023 will be viewed as having more in common with the world of 1923 by the time 2123 rolls around.

Technology now advances >500% faster than it did in 1923, and there is no reason to think 2123 will be anything but >300% faster than today.

One of the best ways to track this is the total energy production/consumption of the globe. This is an exponential curve that is continuing to have a steeping slope as a function of time.

We are in the ancient world… Where humans trade economic value by bartering between political currency units and saving wealth in assets and goods.

In this world, the driving problem is a lack of prosperity.

Exchanges are expensive and take days (or weeks) to transact, and often have people called “brokers” or “realtors” who professionally manage these transactions because these goods were so valuable and expensive it required extreme diligence to fulfill.

Not even money is easy. There are hundreds of different currencies around the world to barter between, and all of them increase or decrease in value as a direct function of manipulation of boards of lawyers and politicians.

If you were to have the measure of temperature or length manipulated by the whims of kings and dictators, you would call it an ancient society. When we apply this logic to the price and supply of money, we call it “modern banking”.

There is nothing “modern” about modern banking. This is an ancient practice, and we are so blinded by our own hubris from other technological marvels that we have forgotten that this is nonsensical, and a matter of time until it dies.

In the coming world humans do not save in assets because deflation escalates.

No point holding stocks as margins get pushed tighter over time, no point in holding bonds or political currencies of insolvent nations, no point in holding expanding gold.

Stocks are our proxy money anyways. They only "go up forever" because they are the closest thing we have to perfect money in the ancient world (today), where we don't have perfect money.

Creating perfect money forces stocks (and everything else) to revert to its natural state: deflation forever.

However, human brains think hyper-abundance of prosperity is a bad thing because brains would no longer be able to sell their time for political currency units.

The people of 2023 failed to understand history. They failed to look at the horse, and how the locomotive made the horse unemployable. Real deflation meant that the jobs for horses were no longer viable, as everything was so cheap there was no sense in operating them.

Likewise, how do you employ humans when prosperity is so cheap you can’t give them all jobs?

Most people we talk to are terrified by the prospect of automation or the collapse in value of human wages, however this should not be the case.

We are not looking at a collapse in prosperity, or the human population but instead a collapse in said jobs and assets. We think that collapsing wages and stock valuations are a bad thing, but forget that collapsing food prices and housing prices are good things. We are so blinded by our own desire to see our political-currency net worth go up that we forget technology is naturally deflationary.

In the inevitable transition to perfect money:

1. Every asset besides the money trends towards zero forever

2. Most of the workforce becomes unemployable

3. Money becomes the monetary singularity of humanity as civilization thrives

We are leaving the ancient world of tomorrow, where human labor is economically viable and is exchanged for corrupted political currency units to be converted into finite assets of the less prosperous past.

The emergence of this coming modern world of tomorrow is what geniuses like Henry Ford and Nikola Tesla predicted at the beginning of the 20th century, when they predicted the Information Age.

Four main levels of this system. Energy, information, communication, and money.

1. Grid to convert “natural wealth” into energy (electricity)

2. System to convert energy into information (computers, 1948)

3. Network to communicate said data with minimal friction (internet, 1983)

4. Algorithm to convert information into an immutable ledger (Bitcoin, 2009)

We are at the beginning of this new age, not the end.

We have only just begun using our global communication paradigm (the internet) and 40% of humanity is yet to use it. Likewise we are at the beginning of discovering our native money (Bitcoin) of this era.

We are lifting off, technological change right now is the slowest it will ever be again. Your worldview is going to become completely shattered along with your “models” and forecasts. Everyone is wrong. Yes, really.

Your "experts" are using pricing models of the past to project a future that does not exist.

The idea of these portfolios of centralized assets and currencies up in price is absurd. Who in the future hold assets that deflate in value every year as their supply approaches infinity? It’s nonsensical.

My warning and my encouragement to you is this: You have less in common with the person of 2123 than with the person of year 23. Bitcoin is essential to the destruction of your worldview. Its creation was inevitable and now that it is here it cannot be undone.

It's a hard pill to swallow… To realize we are in a narrow period of the “modern” world of yesterday and the “ancient” world of tomorrow.

You are living in a technological world that neither your grandparents nor your grandchildren will inhabit. Technologically speaking, you are at the tail end of the world you have come to understand your entire life. And Bitcoin is going to kill it.

The sad truth that pains me is that most people you know will learn the hard way, and not accept the locomotive’s dominance until the only economically viable option left is to take your horses and a shotgun out behind the barn.

They will have to start anew in the future, as farmers had to start anew in factories. You cannot have creative destruction without destruction. You cannot have the birth of the lightbulb without the collapse of the candle industry. Most people will not make it out of the collapsing ancient world until it has already collapsed.

The value of the monetary layer of the information age (Bitcoin) is going up forever. Likewise, everything else that stores monetary energy must go to zero forever.

Bitcoin is already the lowest risk asset there is, despite brains resisting it. When that is said, most people have their eyes glaze over, but it is the only logical conclusion.

The lowest risk asset in the coming world is the base layer of monetary stock. Why own a share of cash flows of a sovereign debt instrument or corporate security, when you can just own a “share” of global capital stock with zero counterparty risk, that also doesn’t have the threat of being made technologically obsolete?

If that world is coming, then owning that money stock is the lowest risk transition one can make. Considering Bitcoin is the unrivaled Proof-of-Work chain for 14 years, with well over 90% hash dominance, Bitcoin is already the lowest risk asset on earth. It just isn’t priced in yet.

A good metaphor is the internet. The lowest possible thing to have been bought in the year 1999 was bandwidth on the internet. Imagine if you could have bought a fixed share of the global communications network. No matter what company, nation, or applications survive… You own the future of human communication, forever.

Likewise with Bitcoin, when you buy it you are guaranteed to own a future piece of all monetary energy of the future world, theoretically forever. That is the opportunity of Bitcoin.

The threat, however, is that everything else trends towards zero with time. Most respond to this: “what about my bonds, cash, or stocks”? My response is always “they will continue to trend towards zero as a function of time.”

Candles, horses, cannons, and telegraphs have no economic incentive to survive. Most won’t believe me now. A shame, but understandable. I didn't understand it at one point either, for years in fact. I hope most people can realize this before centralized entities cut off the transition points and exchanges that are the escape valves from the ancient world.

One can hope to ignore Bitcoin for a few years, as the ancient political barter system hobbles. But this system’s collapse into irrelevance is already happening faster than any previous change in history.

Before Bitocin, the collapse of traditional means of communication was the fastest in history. Most look at the internet as merely the fastest growth in history, but fail to realize it was also the fastest destruction of an ancient worldview in history. Bitcoin’s ascension in bringing new prosperity to humanity, and its inevitable collateral damage to the old world, is already happening faster…

We truly have less in common technologically with the people 100 years from today, than with those two millennia before us. No matter what S curves of technology are ahead of us, they will always collapse back into the global monetary layer of humanity.

Your models are breaking. I hope you soon realize Bitcoin is the reason why.

Get. Off. Zero.