from Balaji | by Balaji

I like @tylercowen, but disagree and here's why: ♾/21M. It's a simple argument. I know the Fed will keep printing trillions while Bitcoin's money supply remains at 21M. As the Fed digitally devalues the dollar over the days and weeks to come, we enter hyperbitcoinization.

Here's a more complex argument. American macro is like Soviet macro. Macro guys thought Bitcoin couldn't exist. Nobel Laureates denounced it. They all said it would die. Yet here it is. Because Bitcoin doesn't fit within standard macro. It can't be inflated with a keypress. Nor…