Bitcoin Is Static. . . – Ugly Old Goat

And it is for this reason The Bitcoin Standard is dynamic.

This parallels the emergence of the gold standard. Gold as a commodity is static. It is secured by its scarcity, mining difficulty, and relatively fixed supply. Gold has the highest stock to flow ratio of all commodities (except bitcoin). Most of the gold mined over the past 6,000 years remains in existence. And new gold coming from production (the flow) is small in comparison to the total gold stock.

This means there is never a shortage of gold. And it means gold never goes into backwardation except for short periods of time in isolated locations.

While gold as a commodity is static, it is because of these features the gold standard is dynamic. With gold as a standard commercial paper, real bills, and other forms of credit emerged. These were not gold, but gold substitutes created off-chain (to use modern logos) on the gold standard.

In the same way that gold is static and the gold standard dynamic, Bitcoin is static, the Bitcoin Standard is dynamic.

For this reason, no other innovation than Bitcoin has emerged from The Crypto World. All other claims are imposters, wannabees at best, or frauds and fail to meet the criteria of the longest chain, with proof of work and fixed supply. All are promoted in one way or another as “Better than Bitcoin”. Their own terminology belies their lack of vision.

Don’t be fooled by the Altcoin Season. At best it is just that.

Once again, the terminology of The Crypto World belies their lack of vision. By their own words, the future of The Crypto World is doomed to a very short season.

UGLY OLD GOAT

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