Well, well, well, if it isn’t Jack Mallers dropping truth bombs like they’re going out of style! His latest video about Bitcoin scarcity makes me more excited than a Brit who just found out the pub is open early.
You see, we Brits have a knack for understatement, but when it comes to Bitcoin, subtlety takes a backseat. We often talk about Bitcoin being an inflation hedge, as if it were some kind of financial umbrella protecting us from the monetary drizzle. But let’s cut the crumpets; the real magic lies in its limited supply.
In his recent episode of The Money Matters Podcaststreamed live on November 11, 2024, Mallers not only hit the nail on the head; he used a sledgehammer. “Bitcoin is a solution, it’s not a hedge,” he proclaimed, with the kind of conviction you’d expect from someone who just discovered tea and cookies.
He pointed out the obvious – but often overlooked – fact that Bitcoin is the only asset where increased demand does not lead to increased supply. If everyone suddenly wants an iPhone, Apple will bring them to market faster than you can say ‘planned obsolescence’. But what if everyone wants Bitcoin? Well, hard cookies. There’s a set offer, and that’s that.
Mallers eloquently stated: “Bitcoin is the most performing asset in the world because it is the scarcest asset in the world. It is the only asset that demands a higher price for more supply.” It’s like trying to get tickets to a sold-out Oasis concert; the more you want them, the more you have to cough up.
He also made a nice joke to those who think Bitcoin is just a cog in the financial machine, correlated with stocks or precious metals. It’s as if he’s telling us that while the world fiddles with monetary policy like a cat with a ball of yarn, Bitcoin remains undeterred.
Now I don’t know about you, but the idea that Bitcoin is immune to the whims of central banks and governments helps me sleep better at night. Well, that and a good cup of Earl Grey. Bitcoin’s finite nature means it cannot be diluted, devalued or tampered with – contrary to my neighbor’s opinion of my garden gnomes.
Mallers sums it up brilliantly: “Bitcoin can change the world because the world cannot change Bitcoin.” It’s the financial equivalent of an unstoppable force meeting an immovable object – except in this case the object is a decentralized ledger, and the force is our collective sense that scarcity is valuable.
So, what’s the takeaway here? If you still view Bitcoin as an optional side dish rather than a main course, it’s time to rethink your financial menu. The scarcity of Bitcoin is not a bug; it’s a feature, and a rather splendid one at that.
In the great tapestry of assets, Bitcoin is that elusive golden thread that doesn’t tarnish, doesn’t fray and certainly doesn’t multiply just because we fancy a little more bling. It’s high time we recognize Bitcoin not just as a hedge against inflation, but as a standalone solution to the age-old problem of value preservation.
As for me, I’ve decided to value two things above all: my time and my Bitcoins. Everything else is just window dressing – or, as we say across the pond, mere fluff.
So kudos to Jack Mallers, who reminds us that sometimes less really is more. And if you haven’t watched his latest video yet, do yourself a favor and check it out. Be prepared: You may find yourself nodding more forcefully than a bobblehead on a bumpy road.
Cheers!
Watch the video:
#Bitcoin can change the world because the world cannot change #Bitcoin pic.twitter.com/3WnamG8nL7
— Jack Mallers (@jackmallers) November 14, 2024
This article is a To take. The opinions expressed are solely those of the author and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.