As the Bitcoin network replaces our current financial system and becomes the unit of account for the world, everything else will fall in price indefinitely.
This is a transcribed excerpt of the “Bitcoin Magazine Podcast,” hosted by P and Q. In this episode, they are joined by Jeff Booth, author of “The Price Of Tomorrow” to talk about the lens through which he sees the investing world and how Bitcoin will replace our current financial system.
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Jeff Booth: We get — I say the broader “we” because people want bitcoin to go up to $100,000 tomorrow — people who are in this thought process of, “What’s going on right now? What’s the thing, who is the one person who’s gonna change this? Who is one person I bring on that changes everything?” It doesn’t look like that.
It’s an emergent network that gets stronger and stronger while the existing network gets weaker and weaker. That’s actually what you want in the network transition. Yes, it’s gonna be messy.
Two years ago I wrote something called “The Greatest Game.” And if you follow what’s happening in the greatest game of the existing system, it’s just playing out exactly like I wrote would happen in that article. And yes, this is an emergent system. It’s early. It’s an asymmetric bet, but it’s way more than an asymmetric bet of money.
Everything on bitcoin, everything against bitcoin will fall in price forever. If you’re saying bitcoin will rise in price forever, what you’re actually stepping in the trap of, is falling into the error code of the existing system.