Since the U.S. unemployment rate data on Friday triggered Sam's Law, triggering recession concerns, everything fell, and BTC also took advantage of the opportunity to retreat to the $60,000 first-line defense. Jiaolian used a long article to analyze the macro situation and capital logic at this delicate moment before and after the interest rate cut, and published it this morning [ "8.4 Jiaolian Insider: Everything is falling, where did the money go? Where is the bottom?" ], welcome to move to read.
A few days ago, a video clip of Trump's interview with Fox Business was posted online. In the interview, he told the reporter that in the future we may be able to write a small Bitcoin check to pay off the current US debt of 35 trillion US dollars!
I have to say that Trump is really bold in thinking and speaking! Some netizens helped him do elementary arithmetic: using the approximately 210,000 BTC currently held by the United States to repay the $35 trillion in national debt means that the price of each BTC will reach $167 million!
167 million US dollars, which is more than 2,700 times the current price of 60,000 US dollars, nearly 3,000 times!
However, having said that, BTC has increased by tens of thousands times in the past 15 years (10,000 times from $6 in 2011 to $60,000 in 2024). It is not too much to increase it by 3,000 times in the next 15 years, right? In the same period of time, the increase is only 30% of the same period of time in the past. It is reasonable, right? Hahaha~
As soon as I wrote the words "hahaha", I thought of Harris. Harris is the female vice president who will succeed Biden to face Trump. She is talked about by netizens for her sudden laughter in public.
Speaking of laughter, Jiaolian is reminded of a former colleague, a lovely old European man. In a two-story office building in the quiet fairytale Nordic world, his hearty laughter in the first-floor office was as loud as a bell even from a distance on the second floor.
What's interesting is, take a closer look at who posted this interview clip of Trump online? The account name is Kamala HQ. Hey, there is no coincidence. This is the official account (one of the accounts) of Kamala Harris' campaign team. The account has a self-introduction written on the top: This is the official rapid response page of Vice President Harris' presidential campaign. Click it and you will see that it is most likely a short video about Trump. Needless to say, it is all edited by the team, and they think it can reduce Trump's points.
It seems that the Harris campaign team is using Trump’s talk of using BTC to repay U.S. debt as evidence that Trump is “unreliable.”
In dealing with new things, Trump, who should belong to the conservative right wing, has a wild imagination and single-handedly put BTC directly on the stage of G20 national strategic reserves, while Harris, who should belong to the progressive left wing, is extremely sarcastic and disdainful of BTC, a new thing that seems to be somewhat "dangerous" and "subversive". BTC has really become a touchstone to test the quality of the two parties. And the two parties are really becoming more and more like their most hated opponents.
But looking back at the history of human civilization development over just a few thousand years, has there ever been any new thing that truly and significantly improved the level of human productivity and promoted the leapfrog progress of human civilization that was not met with all kinds of misunderstandings and contempt in the beginning?
When the car was first invented, people laughed at it for being much slower than a horse-drawn carriage.
When mobile phones were invented, people laughed at them and said who was crazy enough to carry such a big device around just to talk to someone far away?
When the Internet first appeared, we can still see the video of Bill Gates being interviewed in the 1990s. When Bill Gates tried to explain that the Internet can be used to read news, listen to music, and chat, the host was puzzled and said that we already have radios, televisions, record players, and telephones.
Now, when the first truly decentralized electronic currency in human history, Bitcoin (BTC), appears, people once again repeat the same unchanging cognitive pattern - they can’t see it, they can’t understand it, and they look down on it.
BTC is both electronic gold and the dollar without the Federal Reserve.
If gold is like a particle and the US dollar is like a wave, then BTC is light, because it is both a particle and a wave, and has the dual nature of wave and particle.
The currency that humans pursue should have the dual nature of wave and particle, just like light: when it is used as a store of value (SoV), it reflects "particle nature" - a measure of value, at which time it is called money; when it is used as a medium of exchange (MoE), it reflects "volatility" - liquidity, at which time it is called currency.
Light is both a particle and a wave, and it is neither a particle nor a wave. BTC is both like gold and like the US dollar, and it is neither like gold nor like the US dollar.
Light is the time and space benchmark of the universe where humans live. Therefore, the speed of light c is constant in any reference frame. This sounds a bit counterintuitive to ordinary people: you throw a small ball forward at an initial speed of 5 meters per second on a high-speed train that is traveling at a speed of 300 kilometers per hour (about 83 meters per second), and the speed of the ball relative to the earth is 83 + 5 = 88 meters per second. However, if you replace the small ball with a photon, hold up your phone and turn on the flash to shoot photons forward, the speed of the photon relative to the earth is still the speed of light c, and the speed of the high-speed train will not be added. Even if the high-speed train runs at half the speed of light, 0.5c, the forward speed of the light emitted by your phone's flash, whether it is from your point of view on the high-speed train or from the point of view of an observer on the earth, is the same speed of light c, not 1 + 0.5 = 1.5c.
If the speed of light does not change, then what changes? Einstein believed that as the speed of high-speed rail increases, it is the length that becomes shorter and the time that slows down. It is the space-time that changes, not the speed of light. This is the special theory of relativity.
That is to say, for the speed of light, 1 c = 1 c.
BTC is the value benchmark of the civilized society where humans live. Therefore, BTC as a value unit is constant in any legal currency reference system. What changes is the legal currency and the reference system, not BTC. No one has studied this theory carefully and formed a system. However, Jiaolian believes that due to the emergence of BTC and the crypto era, the new monetary economics of the future will regard this theory as a cornerstone theory as great as the special theory of relativity in physics.
The most important one is that for the value of BTC, 1 BTC = 1 BTC.
BTC, the light of value.
