Fellow humans,
You should see “Open in browser” in the top right corner of each SALtoshi Whitepaper email, which I recommend you should click each time, instead of reading my posts in your email inbox. Entire paragraphs disappeared from previous posts in the email version, but no issue in the browser version. Not sure if the email issue will persist, so reading each post in your browser is the most surefire way to catch every word from my 👽 brain.
The past 18 months of bitcoin have been exceptional. I’m weathering my second bear market, so not really a big deal for me to watch bitcoin fall 74 percent in 6 months. Yeah, that’s what happened. When an asset rises 250 percent in less than a year, we should expect some big drops along the way to the moon. Expect turbulence, and you won’t be so butt-hurt when you’re “losing money.”
What did you think of bitcoin a year and a half ago? Did you know what it was? Did you even know if bitcoin was tangible? Do you know now? Most people on earth still might not be aware. We’re so early, which partially means we have such a great opportunity to make money. If you’ve been with SALtoshi Whitepaper since the beginning, then you’ve been taken on a wild ride in the markets.
One bitcoin cost $19,200 in December 2020, and then $67,500 in November 2021, and now $21,000. Did I mention it’s only been 18 months? So many emotions along the way. If your first buy was December 2020, and you’ve held until now, then you’ve witnessed your investment triple, and then nearly back to where you started. Welcome to Bitcoin.
If you think bitcoin’s market is done going absolutely insane, then follow the instructions below:
Throw your phone in the nearest river.
I’ve never been more optimistic for the future of Bitcoin. The network has done nothing but improve since January 2009. Bitcoin is basically unstoppable. However, the market does not reflect the network. In a nutshell, the market reflects politics. Bitcoin is not political. Just like me. Bitcoin’s market cap should be at least twice as much as gold (in my opinion), which means one bitcoin would cost around $1 million. This is not a joke, but this is a test.
Bitcoin is better than the dollar because the monetary policy of BTC is transparent and fixed. Bitcoin is better than gold because one is digital and one is not. Bitcoin is better than real estate because no BTC property taxes, nearly unable to be seized (unseizeable should be a word), and BTC is property (investment) which can instantly transport anywhere in the world. Plus, try buying 50 cents worth of real estate. I can buy 50 cents worth of bitcoin right now. Oh shit, I just did.
The dollar is worth nothing, and gold is worth around $10 trillion, so what’s bitcoin worth? You’ll need to decide for yourself. I’ve already decided bitcoin is always worth buying, unless the network breaks. Other very popular blockchains have been breaking recently, but not Bitcoin. The dollar has been broken since 1971, so no contest. Gold is a rock, but at least it looks sexy in jewelry.
I’m always comparing bitcoin with the dollar and gold because all 3 are money. If a blockchain’s primary use-case is not money, then it’s not too relevant, which is why I don’t try to value bitcoin against other crypto. Try fitting bitcoin into the framework as a global and digital monetary network, which is truly open for anybody, and then try understanding how much one bitcoin should cost. And remember one thing (as my dad says), the max supply of bitcoin is always and forever 21 million.
Until next time,
Salvatore Norge
P.S. — Eating healthy and working out every day feels incredible.
“Keep falsehood and lies far from me; give me neither poverty nor riches, but give me only my daily bread. Otherwise, I may have too much and disown you and say, ‘Who is the Lord?’ Or I may become poor and steal, and so dishonor the name of my God.” — PROVERBS 30:8-9
I’m not very wise. Never financial advice. Do your research.