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Over the Holidays I was asked by many to explain "Why Bitcoin?" without getting into all of the technical jargon.
For your convenience, below was my response:
▶️ Most new technologies are misunderstood leading to many questions and, sometimes, quick dismissals.
▶️ Bitcoin represents both a technological and generational evolution in asset ownership. It is only possible due to blockchain technology - which is just a unique database that ensures it is both transparent and immutable - and it tends to appeal to individuals who were primarily born in the mid-1970s or more recently. Lately though, it is getting increasingly more popular now that Bitcoin ETFs allow for traditional financial institutions to provide access to it.
▶️ Why the mid-1970s or more recently? These are the generations that were born into the rise of computing and gaming and, for the most part, are digital natives. Thus, just like the generation that lived during the Great Depression in the United States hoarded their money (sometimes at home), these newer generations feel comfortable with the notion of "Digital Ownership."
▶️ At the same time, most people born in the mid-1970s or more recently feel as though there is something wrong with the existing financial system. The credit system rewards debt, government spending, inflation and deficits are out of control, and most cannot afford to buy a home or have the luxuries that earlier generations had. This, in turn, has people seeking or exploring alternative routes to wealth creation.
▶️ A traditional definition of "value," suggests that something physical must be exchangeable for a good, however, I would posit that value may be defined by enough people believing there is value in something. In the case of Bitcoin, it is estimated that nearly 50M people own at least $1 of it. To provide a numerical reference point for comparison, Amazon has roughly 7,000 shareholders.
▶️ One of the biggest value propositions of Bitcoin is that it is mathematically pre-determined and pre-programmed. There is a fixed supply of 21 million and everyone knows how and when new Bitcoin comes into existence. There is no human decision making - which is a feature, not a flaw.
▶️ Since it's inception in 2009, it has only seen increased demand. Thus, part of Bitcoin's appeal is believing that in the future there will be increasingly more demand for it.
▶️ So here is a really crude way of thinking about how this is possible: If you believe that Bitcoin is partially a generational shift, then every day that someone from an earlier generation of majority, non-believers dies, someone from a newer generation of majority, believers is born. Thus, adoption would be an upward trend line in this scenario.
▶️ The Bitcoin ETFs - which have been recognized as the fastest growing, most successful ETFs of all time - are merely an accelerant to this adoption because they provide a structure within the existing, global financial ecosystem, where Financial Advisers are now incentivized to sell this offering to their clients.
▶️ And, this whole explanation does not account for changes in accounting laws, potential legislation or corporate and country adoption - all of which are slowly taking place.
Hope you found this helpful! If so, please RT as my goal is to simplify the understanding of Bitcoin for everyone.
And, if you are interested in potentially acquiring your first Bitcoin, please visit us at moonpay.com!
For your convenience, below was my response:
▶️ Most new technologies are misunderstood leading to many questions and, sometimes, quick dismissals.
▶️ Bitcoin represents both a technological and generational evolution in asset ownership. It is only possible due to blockchain technology - which is just a unique database that ensures it is both transparent and immutable - and it tends to appeal to individuals who were primarily born in the mid-1970s or more recently. Lately though, it is getting increasingly more popular now that Bitcoin ETFs allow for traditional financial institutions to provide access to it.
▶️ Why the mid-1970s or more recently? These are the generations that were born into the rise of computing and gaming and, for the most part, are digital natives. Thus, just like the generation that lived during the Great Depression in the United States hoarded their money (sometimes at home), these newer generations feel comfortable with the notion of "Digital Ownership."
▶️ At the same time, most people born in the mid-1970s or more recently feel as though there is something wrong with the existing financial system. The credit system rewards debt, government spending, inflation and deficits are out of control, and most cannot afford to buy a home or have the luxuries that earlier generations had. This, in turn, has people seeking or exploring alternative routes to wealth creation.
▶️ A traditional definition of "value," suggests that something physical must be exchangeable for a good, however, I would posit that value may be defined by enough people believing there is value in something. In the case of Bitcoin, it is estimated that nearly 50M people own at least $1 of it. To provide a numerical reference point for comparison, Amazon has roughly 7,000 shareholders.
▶️ One of the biggest value propositions of Bitcoin is that it is mathematically pre-determined and pre-programmed. There is a fixed supply of 21 million and everyone knows how and when new Bitcoin comes into existence. There is no human decision making - which is a feature, not a flaw.
▶️ Since it's inception in 2009, it has only seen increased demand. Thus, part of Bitcoin's appeal is believing that in the future there will be increasingly more demand for it.
▶️ So here is a really crude way of thinking about how this is possible: If you believe that Bitcoin is partially a generational shift, then every day that someone from an earlier generation of majority, non-believers dies, someone from a newer generation of majority, believers is born. Thus, adoption would be an upward trend line in this scenario.
▶️ The Bitcoin ETFs - which have been recognized as the fastest growing, most successful ETFs of all time - are merely an accelerant to this adoption because they provide a structure within the existing, global financial ecosystem, where Financial Advisers are now incentivized to sell this offering to their clients.
▶️ And, this whole explanation does not account for changes in accounting laws, potential legislation or corporate and country adoption - all of which are slowly taking place.
Hope you found this helpful! If so, please RT as my goal is to simplify the understanding of Bitcoin for everyone.
And, if you are interested in potentially acquiring your first Bitcoin, please visit us at moonpay.com!
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Keith A. Grossman retweeted
BREAKING: NYSE OWNER ICE PARTNERS WITH TRADEXYZ TO BRING HYPERLIQUID PERPETUAL FUTURES PRODUCTS INTO REGULATED US MARKETS
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Keith A. Grossman retweeted
trade[XYZ] and ICE, owner of the New York Stock Exchange, are joining forces to bring 24/7 perpetual futures on Hyperliquid to the United States.
In just over a year, our markets on Hyperliquid have surpassed $650 billion in volume. They provide continuous price discovery for stocks, indices, and commodities, and have become trusted reference points for retail and institutions alike when traditional markets are closed. Much of the world trades them. Until now, Americans could only watch.
We intend to change that. Subject to CFTC approval, trade[XYZ] and ICE plan to establish a new, dedicated U.S. market, with novel exchange and clearing infrastructure built on Hyperliquid. Planned contracts span equities, indices, commodities, FX, and crypto, with access through participating brokers and platforms. We’ll share more on products, eligibility, and timing as approvals progress.
ICE brings more than 25 years of experience operating regulated markets, clearing, and managing risk. trade[XYZ] brings the product development, market design, and technology behind the most liquid and robust markets on Hyperliquid.
Innovation and the protections of U.S. regulation shouldn’t be a trade-off. Together, we plan to prove it.
ICE is making a strategic investment in trade[XYZ] and joins us in building towards the future of Hyperliquid. A small group of market luminaries is joining as well, beginning with Stan Druckenmiller. For more than four decades, few investors have anticipated the great turns in markets as often as Stan. We’re proud to have him with us for the next one.
We’re building the U.S. market in parallel with our existing HIP-3 markets, which we’ll continue to expand and innovate on. We expect both to flourish. They each have a long road map ahead, from new asset classes to new ways to trade them.
To the Hyperliquid community, whether you were here before us or came because of us, thank you. You took a chance on new markets and you made them matter. You’ll forever be a part of this story.
Anything. Anytime. On ICE[XYZ].
In just over a year, our markets on Hyperliquid have surpassed $650 billion in volume. They provide continuous price discovery for stocks, indices, and commodities, and have become trusted reference points for retail and institutions alike when traditional markets are closed. Much of the world trades them. Until now, Americans could only watch.
We intend to change that. Subject to CFTC approval, trade[XYZ] and ICE plan to establish a new, dedicated U.S. market, with novel exchange and clearing infrastructure built on Hyperliquid. Planned contracts span equities, indices, commodities, FX, and crypto, with access through participating brokers and platforms. We’ll share more on products, eligibility, and timing as approvals progress.
ICE brings more than 25 years of experience operating regulated markets, clearing, and managing risk. trade[XYZ] brings the product development, market design, and technology behind the most liquid and robust markets on Hyperliquid.
Innovation and the protections of U.S. regulation shouldn’t be a trade-off. Together, we plan to prove it.
ICE is making a strategic investment in trade[XYZ] and joins us in building towards the future of Hyperliquid. A small group of market luminaries is joining as well, beginning with Stan Druckenmiller. For more than four decades, few investors have anticipated the great turns in markets as often as Stan. We’re proud to have him with us for the next one.
We’re building the U.S. market in parallel with our existing HIP-3 markets, which we’ll continue to expand and innovate on. We expect both to flourish. They each have a long road map ahead, from new asset classes to new ways to trade them.
To the Hyperliquid community, whether you were here before us or came because of us, thank you. You took a chance on new markets and you made them matter. You’ll forever be a part of this story.
Anything. Anytime. On ICE[XYZ].
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Keith A. Grossman retweeted
Cam Skattebo just got an unnecessary roughness penalty for running somebody over.
I’M CRYING 😂😂😂
I’M CRYING 😂😂😂
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Keith A. Grossman retweeted
HEARTBREAKING: #GIANTS RB CAM SKATTEBO SAYS HE MAY BE PLAYING FOR FREE IF THE NFL KEEPS FINING HIM FOR HOW HE RUNS.
“The NFL loves to post me when I do stuff like that but then also wants to take stuff from me”
“Guess I’m going to play for free”
Awful💔
“The NFL loves to post me when I do stuff like that but then also wants to take stuff from me”
“Guess I’m going to play for free”
Awful💔
🚨🚨THIS CALL IS PATHETIC🚨🚨
NEW YORK #GIANTS RB CAM SKATTEBO WAS CALLED FOR A PENALTY FOR LOWERING HIS HELMET WHILE RUNNING OVER A DEFENDER.
IT IS QUITE LITERALLY A RUNNING BACK’S JOB TO RUN OVER DEFENDERS.
THIS IS AN INSANE CALL…
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Keith A. Grossman retweeted
🚨🚨THIS CALL IS PATHETIC🚨🚨
NEW YORK #GIANTS RB CAM SKATTEBO WAS CALLED FOR A PENALTY FOR LOWERING HIS HELMET WHILE RUNNING OVER A DEFENDER.
IT IS QUITE LITERALLY A RUNNING BACK’S JOB TO RUN OVER DEFENDERS.
THIS IS AN INSANE CALL…
NEW YORK #GIANTS RB CAM SKATTEBO WAS CALLED FOR A PENALTY FOR LOWERING HIS HELMET WHILE RUNNING OVER A DEFENDER.
IT IS QUITE LITERALLY A RUNNING BACK’S JOB TO RUN OVER DEFENDERS.
THIS IS AN INSANE CALL…
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Keith A. Grossman retweeted
I dont know a single defensive player in any era that would want a ref to throw a flag on a offensive player for unsportsman conduct for trucking him..
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I absolutely love that the @nyknicks and @TheGarden honor the NYPD during games.
These are true heroes. THANK YOU for all you do each and every day to keep our great City safe, @NYPDPC @NYPDnews!
💙💙💙
These are true heroes. THANK YOU for all you do each and every day to keep our great City safe, @NYPDPC @NYPDnews!
💙💙💙
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Keith A. Grossman retweeted
The world did not end in the '80s and 90s and it's not going to end now.
Quite the contrary. Most dynamic time for innovation and growth in the country's history.
Quite the contrary. Most dynamic time for innovation and growth in the country's history.
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Keith A. Grossman retweeted
Abdul El-Sayed parlayed his race-obsessed medical research to fast-track, fund journey to Congress: critics. Read today’s cover here: trib.al/DOomw9T
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Keith A. Grossman retweeted
Abdul El-Sayed’s radical ideology is a threat to our national security.
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Keith A. Grossman retweeted
If you think Midtown Manhattan in the afternoon is much, much sketchier than it used to be, you're right thebiggerapple.manhattan.institute/p/think-midtow…
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Keith A. Grossman retweeted
Would you give your AI agent its own card?
Big US banks are saying no. They are blocking outside AI agents from customer accounts
The card side is going the other way:
- @oobit on @raincards : Grok, Muse and Dots agents pay in stablecoins with a single-use card for each @moonpay PayBox: Claude, ChatGPT, Gemini or Grok pay from your own wallet, with a one-time card locked to the merchant and amount
- @RobinhoodApp : a virtual credit card for your agent, with hard limits, approvals and 3% back
- @Mastercard opened Agent Pay for Machines to developers after pilots with Coinbase and Cloudflare
- @Visa has AI agents paying approved business invoices in a pilot with BILL and Billtrust
What would you actually let an AI agent buy for you?
Big US banks are saying no. They are blocking outside AI agents from customer accounts
The card side is going the other way:
- @oobit on @raincards : Grok, Muse and Dots agents pay in stablecoins with a single-use card for each @moonpay PayBox: Claude, ChatGPT, Gemini or Grok pay from your own wallet, with a one-time card locked to the merchant and amount
- @RobinhoodApp : a virtual credit card for your agent, with hard limits, approvals and 3% back
- @Mastercard opened Agent Pay for Machines to developers after pilots with Coinbase and Cloudflare
- @Visa has AI agents paying approved business invoices in a pilot with BILL and Billtrust
What would you actually let an AI agent buy for you?
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