Stay Humble, Stack Sats: Bitcoin Falls 20% in 24 Hours - WiM Weekly
A weekly rundown of new WiM podcast releases and some food for thought
Amid the unwinding of the Yen carry trade, rising unemployment, and growing recessionary fears, Bitcoin “crashed” this week to levels not seen since earlier this year. Volatility, as it pertains to Bitcoin, is profoundly misunderstood. Bitcoin itself is not unstable; rather, it is a mirror reflecting the fragility of our debt-ridden, fiat monetary system.
Contrary to its price, Bitcoin is the most stable, predictable asset in the world. Bitcoin has no CEO, management team, or marketing team. There are no earnings to hit, and no competitors vying for future profits. Bitcoin is a bearer asset without counterparty or dilution risk. It's the only asset with a predetermined supply schedule and an immutably fixed total supply. It is incorruptible code—a form of digital private property that humans have not yet figured out how to violate.
So why the volatile swings in price? It’s not Bitcoin that’s volatile, it’s humanity’s perception of Bitcoin’s value. The collective consciousness of global capital markets are still grappling with how to price something so radically different from anything that has come before it. Traditional assets like stocks and bonds fluctuate based on cash flows, default risk, etc. Bitcoin, however, operates on its own terms—its price movements are a function of a growing minority of global capital gradually understanding its true value as a superior form of money.
Bitcoin is the signal in a noisy world.
“Bitcoin is hope... Take the long view. Stay humble and stack sats.” — Michael Saylor
“The beauty of Bitcoin is that it rewards those who save. Stay humble, stack sats, and watch the world change.” — Saifedean Ammous
“Bitcoin is for the long term. Stay humble, stack sats, and focus on what truly matters.” — Jack Dorsey
“Keep stacking, stay humble, and let time do the heavy lifting. Bitcoin is the ultimate savings technology.” — Preston Pysh
This Week:
WiM501 with Eric Bischoff
“The people on my team who I trust and rely on the most are people that, when I first met them, I wasn’t sure I wanted to be around them. They challenged me. They called me on my bullshit, and I like that. Because I’m capable of believing my own nonsense. You need people around you who will [call you out when you’re wrong].”
Link to full episode: Pro-Wrestling, Storytelling, and Achievement with Eric Bischoff (WiM501)
WiM502 with Chad Blackburn
“[What] really captured my energy and interest was the separation of state and money … When you think about what could be on a sound money standard, [it’s] the restoration of the private sector’s most valuable control mechanism over the public sector. The public sector is supposed to ask nicely of the private sector for money when they want to do something on behalf of the collective. How can the beast grow if it doesn’t have [control of] the money?
Link to full episode: Transitioning To A Bitcoin Standard with Chad Blackburn (WiM502)
WiM503 with Luke Broyles
“Central banking is not the fundamental problem of humanity. The state is not the fundamental problem of humanity. Sin is the fundamental problem of humanity. All the state and central bank are, is institutionalized evil … The real problem is not the state. The real problem, is the evil that the state does … Central banks are not the love of money, because there’s money involved. It has nothing to do with money. It has everything to do with subverting God’s authority. The central bank is not a representation of the love of money because they make political currency units. It’s a representation of the love of money because it is a person sitting in a chair and saying “let there be light.”
The full episode with Luke Broyles will go live today (8/9/24) at 3:00pm EST.
We’ve relaunched the Clips Channel! Subscribe for highlights from episodes and other exclusive content:
We’ve launched a WiM Telegram Community Channel! Join us here to engage with a group of deep thinkers, freedom maximalists, and Bitcoiners:
Next Week:
8/12 with Zac Townsend
Zac Townsend is the co-founder and CEO of Meanwhile, the world's first Bitcoin life insurance company.
8/14 with Brandon Quittem
Brandon Quittem is an entrepreneur, writer, speaker, and passionate Bitcoiner.
8/16 with Fred Thiel
Fred Thiel is the CEO & chairman at Marathon Digital Holdings.
Events on the Horizon:
The Art of Alpha Retreat: https://www.breedloveevents.com/
Sponsors:
In Wolf's Clothing: https://wolfnyc.com/
The Farm at Okefenokee (mention BREEDLOVE for $21,000 off a custom cabin):
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Swan Bitcoin: https://www.swanbitcoin.com/breedlove22/
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Colorado Craft Beef (use discount code BREEDLOVE): https://coloradocraftbeef.com/