Tweetstorm - an occasional series where we share a thread of relevance and interest from the torrent that is Twitter!
My mission is to accelerate the world's transition to sustainable money. I'm thrilled to announce that I get to work full time for #Bitcoin at @CashApp as the Crypto Product Lead.
Why am I dedicating the rest of my career to Bitcoin? My 21 reasons are below... 🧵👇
/1. Money is Broken: The United States, @USTreasury, and @federalreserve have printed ~30% of all U.S. dollars in existence, in the last year. Furthermore, if you had $100 in 1913, today it would only be worth about $3. #Bitcoin fixes this.
/2. P2P is Broken: Sending $100 from the U.S. to other countries in the world costs about $7 and takes 3-5 business days to arrive. With #Bitcoin and @Lightning, it’s practically free and arrives instantly. Bitcoin fixes this.
/3. Trusting Math: As @bhorowitz of @a16z said, “Crypto has one feature that has never existed before, and that’s – trust. Trust is super powerful. It comes from the mathematical and game theoretic properties of the platform. That means you don’t have to trust the government, ...
/3. ...or Twitter and Facebook, or the other people even on the network. You just have to trust math. That opens a very interesting world for developers because you can build new applications – like money. Which nobody has ever been able to program money before, but now you can.”
/4. Monopolies of Violence: Q41 from the @USCIS' test says the federal government exists to (1) “print money” and (2) start and end wars. That's it. As @elonmusk said, “government is just a corporation, in the limit...and it’s got a monopoly on violence.”
/5. Separation of Money and State: If you take the money printer away from the federal government, then they acknowledge on their own .gov website that their primary purpose & power is war. See Q41 – uscis.gov/sites/default/file… – @JoeBiden @SecDef @SecYellen @JasonPLowery @USCIS 👀
/6. Money Printer Go Brrr: It’s only a matter of time before people won’t accept the cotton anymore. Corn🌽 > cotton. 👩🎨: @LinaSeiche
/7. Gold 2.0: The more I learn about bitcoin, the more I respect gold. The more I learn about gold, the more I appreciate bitcoin.
/8. Double Digit Inflation: The majority of the world’s population lives in a country that experiences double digit inflation, every year. #Bitcoin fixes this.
/9. Authoritarian Regimes: Over 4.3B people (>50% of the world’s population) live under authoritarian rule. #Bitcoin is emerging as a powerful force for human rights across the world. Watch 5-min @reason video where @gladstein explains why bitcoin matters:
/10. Decentralized: Bitcoin is truly unstoppable. We’ve never seen anything like this before. An asset that:
✅ Cannot be censored by authorities
✅ Cannot be devalued by governments
✅ Cannot easily be mass surveilled
✅ Cannot be stopped by borders
✅ Can be accessed by anyone
/11. Lebanon🇱🇧: Over the past 2 years, our friends and family have lost over 90% of their wealth due to corruption and a bank-run Ponzi scheme. The World Bank even calls it "one of the most severe global crises" (worldbank.org/en/news/press-…) in over 150 years. #Bitcoin fixes this.
/12. El Salvador🇸🇻: It took 20 years for 1.8 million Salvadorans to have a bank account. It took 20 days for 2.2 million Salvadorans to have a bitcoin wallet. I can’t wait to visit @BitcoinBeach and meet folks in the community soon! ⚡️🌋
/13. Better Bitcoin Hardware UX: Pumped to see @JesseDorogusker + @jack announce that we're working on this. Free newsletter to receive updates and to be involved: squareselfcustody.substack.c…
/14. Better Bitcoin Software UX: I'm going to pour my heart into making the Bitcoin UX easier, more secure, and more private. I learned a lot about magical UX at @Apple and @Tesla and aim to help scale ~130M Bitcoin users today to 1B+ globally by 2025. #Bitcoin for billions.
/15. Banks -> Fintech -> Crypto: Whether they know it today or not, I believe fintech companies will become crypto companies. You can already see it happening with the @Stripe Crypto news yesterday (nitter.ggc-project.de/gponcin/status/1…). I have used these apps. What else should I check out?
/16. Bitcoin Incentivizes Renewable Energy: #Bitcoin transforms sunlight, wind, flowing water, and volcanic heat into the hardest and fastest money on Earth. @Square @SquareCrypto @ARKInvest explain how Bitcoin is key to an abundant, clean energy future – squ.re/BCEI-whitepaper
/17. #BitcoinTwitter and the Community: Bitcoiners are some of the most intelligent, passionate, and forward thinking visionaries and freedom fighters that I’ve ever met. I'm going to bring grit, passion, and kindness to my work. Thank you for being here. Please DM me, anytime.
/18. Run the Numbers: The math is simple and the choice is yours. CEOs (@elonmusk @saylor), politicians (@AndrewYang @CynthiaMLummis), athletes (@RussellOkung @TomBrady), celebrities (@theestallion @BustaRhymes), and plebs alike are running the numbers. 👨🎨: @luchopolettiart
19. Sats the Standard: We’re moving from a Fiat Standard to a new Bitcoin Standard. My timeline: 2020-2025: Store of value (a better savings account) 2025-2030: Medium of exchange (some countries and people use bitcoin for goods) 2030+: Unit of account (goods are priced in sats)
20. Satoshi Nakamoto: Listed birthday as 4/5/1975. What motivated them to create #Bitcoin? - 4/5: FDR signed an order making it illegal for Americans to own gold - 1975: Americans could legally own gold again It’s all about financial freedom. We are all Satoshi. RIP @halfin🧡
/21. @Jack Dorsey: Is a brilliant, humble, product-driven, visionary CEO who is laser focused on bringing a native currency to the Internet. By doing so, the world will enjoy more relatable money that's instantly available and universally accessible. #Bitcoin