@investorinsight are you referring to its energy consumption in terms of being sustainable?

@jensen Given the usage of energy - do you believe that bitcoin itself is sustainable as a coin/asset class or whatever you want to call it?

@investorinsight Yes. Network effect is too strong to combat at this stage that I firmly believe it's an animal that can't be stopped. Money talks. So while the energy consumption is tremendous, what it will do given the profit opportunity that will continue to be chased is instead incentivize innovation in renewable energy sources and ways to continue to mine with less of a footprint. It pulls forward innovation. (like using volcanic energy according to El Salvador lol)

@jensen With this thesis, what companies do you think will benefit the most from this forward innovation of renewable energy sources?

@investorinsight Not really my thesis but just a take on what I expect overall given how I don’t feel bitcoin can legitimately be stopped once you understand how much of a beast it has become. It passes every stress test and continues to do due to functional dynamics and how it operates without ability to tangibly control.

To your question, probably a company that isn’t even yet public tbh. Candidly, I steer clear of energy sector and is not my forte by any means, but I’d imagine smaller players pave the way and big guys come in later once they gather enough learnings, and just do it better with more resourcing. Similar to Apple’s “you guys go first we’ll catch up later!” position they have(a luxury) and often exercise (I.e their financial product line)

@jensen What are your thoughts on Bitcoins transaction rate as its significantly underperforms $PYPL, $V, $MA and others? How will it become a beast without a strong transaction rate?

I hear you on the energy space as I do not track that space either.

@investorinsight all comes back to time horizon and realistic expectations. I’m actually surprised it is as much of the total pie as it is given how the heavy BTC accumulators refuse to part ways with it and want to hold, so naturally from transactional POV wouldn’t be as high.

How old are those companies? Operating on a system that was already established (long standing, pre-existing global currencies) Bitcoin’s mission is a 100 year play tbh, without exaggeration. People are wayy too quick to diagnose without understanding how much of a juggernaut the system it aims to disrupt is. (Printable fiat) Adoption curve and implementation will take decades. I don’t say that lightly. We are before the first inning imho.

Every passing day bitcoin is above $0 is bullish for its long term survival as it proves its resilience and slow but sure adoption curve progression, regardless of spot price (quoted in a ccy it aims to disrupt anyway)

I don’t expect BTC to ever be used for convenient store goods like a pack of gum so it is hard to make a 1:1 comparison for overall transactional volume against payment provider public companies like PayPal, visa, MasterCard.., but I do foresee eventually transactions tapered towards more large estate-level transactions like land and balance sheet reserves for companies, fund. CBs, and Gov’ts

@jensen Loved reading these thoughts as this is definitely a belief among many that this is the first inning of cryptocurrency.

Do you think it ever becomes the worldwide currency?

@investorinsight if it does I doubt I’ll be around to see it, but my grandkids might! 😄

I’d be interested in seeing this exact question answered from people all over the world, and from a variety of economic backdrops

@jensen It is a common question for sure as we have seen countries like El Salvador bet on it, but I do not fully understand blockchain just yet, so I do not hold an opinion one way or the other currently.

@investorinsight it is definitely a play that people are so passionate about that often times they (unknowingly) seek confirmation bias so, as with everything, important to always be looking for blind spots. I like to constantly read bearish takes on it to keep myself in check.

Anecdotally however, I’ve never spoken with someone who has spent 100 hours studying bitcoin that hasn’t then allocated a sizable amount of their portfolios in 😉

@joeyhirendernath It doesn't, imo. Cults will cult.