Bitcoin did not meet my expectations is an understatement. Digital Gold lost 58.8% vs. fiat. Analog gold is up 65.2% vs. fiat. Silver is 156.8% more expensive than a year ago. Platinum was like Creed. Can you take me higher than 138.2%? The SNP500? 16.9% better than the dollar, but the metald kicked it's ass too. Bitcoin is down 5.3%. It makes sense. ETF's are not the same as self custodial gold. BTC treasury companies are not the same as UTXO's. These are uncertain times and the market decided it wants hard assets that do not require trust.
People don't trust bitcoin. They trust instituions with bitcoin, at least the vast majority of people do. Even people who call themselves bitcoiners are often against hoding their own keys. That being said, the vast majority of people also don't trust the government, at least in my 
Bitcoin did not meet my expectations is an understatment. Digital Gold lost 58.8% vs. fiat. Analog gold is up 65.2% vs. fiat. Silver is 156.8% more expensive than a year ago. Platinum was like Creed. Can you take me higher than 138.2%? The SNP500? 16.9% better than the dollar, but the metald kicked it's ass too. Bitcoin is down 5.3%. It makes sense. ETF's are not the same as self custodial gold. BTC treasury companies are not the same as UTXO's. These are uncertain times and the market decided it wants hard assets that do not require trust.
People don't trust bitcoin. They trust instituitons with bitcoin, at least the vast majority of people do. Even people who call themselves bitcoiners are often against hoding their own keys. That being said, the vast majority of people also don't trust the government, at least that's the zietgiest in my neiborhood. I went on a whirlwind of holiday parties this year. Two parties is a lot of holiday cheer for me. I also went to a Fourth of July gathering this year. The mayor of my City said we are living in hard times. I got the feeling many of the people at the holiday party people felt the same, as if we are living in a Charles Dicken's novel.
It was the best of times. It was the worst of times. It was the age of good times. It was the age of bad times. According to CNBC, the economy is doing great. The stock market is at all time highs. Yay Wallstreet...high five. Of course, this is measured in fiat. If you measure the stock market against gold and silver, the metals the Constitution of The United States legally declares money, The stock market is down. Jack Mallers talks about this on his podcast. The United States is in a depression if you measure it in gold. That certainly seems to be the way the people at the parties feel.
I went to the grocery store yesterday. The cashier asked the gentleman in front of me if he was prepared for the new year. He said, "yes."
The man didn't pay in bitcoin. He wasn't using the Cash App card. He had the original CBDC, a SNAP card. This is a debit card the government loads up with fiat with restrictions. This fiat can be shut off. The food stamp spender can buy candy, frozen seed oil and soda one day, but it can be cut off the next day. One day, work is not required for this permission required fiat CBDC system. The next day work is required for this fiat. According to usda.gov, 12.3% of the population gets these SNAP CBDC bucks. Life sucks for those who lose their CBDC Snap bucks. The thesis of the Sovereign Individual is unfolding before their eyes.
CPI is down to 2.8%. You can still get a flat screen TV for less than a hundred inflation bucks, but most working people still can't afford a house. Insurance...Come on? It's getting more and more difficult to believe the official government figures.
I feel fortunate to be a bitcoiner at block 930,328. Would I prefer bitcoin was over a million infinity bucks today? Of course I would. If it was, I would probably buy a used Suburu. Did going from 126k to to 85 k gang kinda suck? Sure, but bitcoin is hope. I used to be a cashier at a grocery store, at a time when grocery store cashiers could get a mortgage. These days, they're lucky to afford a storage unit. They sure can't afford 100,000,000 sats or 30 ounces of gold. They hope nezt year will be better than the last like a melancholy melody from Counting Crows.
It's been a long December, but there's reason to believe maybe this year will be better than the last. Even if I'm not bitcoin has already made my life better even if it's not 1,000 X more vauluable than when I first bought it. That's why I think p2p payments are so powerful. There's not much hope in the fiat system. This peer-to-peer electronic system is a new economic system, a protest against the fiat inflation system designed to make the rich richer and everyone else poorer. Bitcoin is hope. Fiat requires faith. People are beginning to lose faith in the fiat system. They're barely keeping hope alive for the fiat experiment.
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