Just got done watching the best Christmas movie of all time. I am referring of course to Die Hard. Want to know what my favorite scene is? No? Too bad.

YUP!

75 cents for a gallon of petrol in 1988. What the....!? Now there is a lot to unpack regarding this price. Did the value of crude oil go up because there is a limited supply that's being drained? What kind of affect does renewable energy have on the price? How have supply and demand changed since that time? How much market manipulation is there?

But obviously the ultimate question is how much of that price difference is simply central banks funneling money into their own pocket slowly over time? Probably quite a bit. It's always good to get a reminder now and again that everyone is a debt slave. Everyone.

When comparing the price of gas from 32 years ago to today, it looks like USD lost about 500% of its purchasing power. Tell me, did wages increase by 500% to make up for it? No they did not. Thank you wage-slavery.

If we take a look at the math, an average devaluation of 5% per year of USD fits these numbers. 1.05^32 = 4.76. Even if USD only loses 5% of it's value every year it will lose x5 its value every 33 years. Pretty pathetic but at the same time a huge testament to the power of exponents.

Abundance?

If we look at the price of food, prices did not skyrocket nearly as bad. Why is that? Probably because of all the technology we've created since then to create abundance in many areas, thus pushing the price down. This is much harder to do with a required but also limited resource like crude oil.

Bitcoin

Speaking of the power of exponents and abundance, if Bitcoin continues to double in value every year like it's been doing for the past 7 years (and even more volatile before that from $0 to $100 in 4 years) then after 40 years Bitcoin would go x1,000,000,000,000.

Yep, if Bitcoin keeps doing its thing and you put in one dollar today, your kids will be trillionaires in forty years. How's that for a nest egg? Of course the value of USD will have decreased at least 90% by that time, but who cares? ... assuming it even exists at that point.

Market Watch

So it's only fair that Bitcoin would ascend to another all time high today. Happy Holidays crypto nerds. Looks like we are ready to flag up a second time... I'm guessing to around the $30k level. There should be a lot of unit-bias resistance there. Once we flag up the 3rd time the FOMO will likely become totally unstable and we should crash pretty hard... or so I'm hoping based off of my trades.

Now that I've largely exited my Ethereum position I stand to lose a lot of money if Ethereum happens to outperform Bitcoin. Truth be told I'm not worried about that scenario at all and I'm resting pretty easy considering my current positions. Bitcoin strong.

Ghosts of Christmas Past

This is the beginning of my 4th year on Hive. The 4 year cycle is completing. Exciting times. So what was I doing on Christmases past?

2017-12-31

Cryptocurrency Crash Incoming January 1, 2018?

My first order of business was to tell everyone 2017 was a heinous bubble and we'd be crashing over the next year. This leaves me to wonder why I didn't take my own advice... lol.

2018-12-31

The Ultimate Enthusiast Economy

This is something I've brought up recently as well. Users on crypto networks are x1000 times more valuable than users on Web2 sites because of the synergy of network effect. Everybody wins on Web3. There's obviously still a lot of development left to go but the path is clear.

2019-12-30

Christmas Puppy

Wow has it really been a year? Last year my sister in law had us pick up a black lab for my brother and keep it a secret. My cat was not amused. Also DLive was acquired by Justin Sun and Tron, but who cares about that dumpster fire amirite?

Conclusion

Merry Christmas; opt out of fiat; yada yada yada; #moon

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