Trilemmas... Sort Off...

A couple of days ago, we experienced a pretty nasty fire in the neighborhood. The exact cause is still unknown, but there's a prevailing belief that misbehavior might have sparked the tragedy. Shit happens, we learn from our mistakes, and we move forward.

Fortunately, the fire only consumed some firewood and old items stored in people's wood enclosures. However, the potential for a devastating fire starting in a home looms, with much higher losses. Let's hope such an incident won't occur in the neighborhood anytime soon.

Now, shifting gears, let's talk about money—what's the best form of it? Or, more precisely, what's the best way to preserve your wealth (if you own anything in this life)? Some argue that cash is king, while others insist "digital cash" is the safest method. As for us crypto enthusiasts, we firmly believe that storing wealth on a decentralized blockchain is the safest and most privacy-oriented approach.

If you're holding physical cash as a means of wealth storage, you risk losing it in a fire or experiencing diminishing purchasing power due to inflation. It's a given. Bank deposits are safe from unexpected catastrophes, but once deposited, the bank essentially becomes the owner of those funds, rather than the individual who deposited them. We vividly remember what happened with the freedom convoy's funds during the Canadian protests a couple of years ago.

Cryptocurrency, too, isn't entirely safe, unless you opt for a non-custodial wallet. Even then, losing your keys or sending funds to the wrong address or blockchain means losing access to your funds. But, at least you can't complain about privacy and ownership, right?

There's no perfect form of money in the world right now. The World Economic Forum may be brainstorming the idea of Central Bank Digital Currencies (CBDCs) as the ultimate form of money, but we're not there yet. Achieving a personalized form of money tied to individuals (not necessarily their IDs) with true privacy and security is likely to require significant advancements in AI and computational power.

The current state of global fiscal policies remains a point of concern. The masses seem content with the system, despite the fact that central banks worldwide printed about 40% of their respective currencies within a span of two years during the COVID-19 pandemic. There's a lack of protest against these fiscal policies, with current demonstrations mostly centered around demands for more money (e.g., farmers' and transporters' protests in Romania and Germany).

At least we have BlackRock's involvement in Bitcoin now. It's a massive shift, and in a way, we can take pride in influencing Larry Fink's complete reversal on Bitcoin—from considering it "an index of money laundering" to viewing it as "the first step in the technological revolution of finance."

As the crypto market transitions away from the bull market, the flurry of overly bullish news and events in crypto will likely subside. However, the profound experience of being in the crypto space and understanding its fundamental essence amidst global turmoil is perhaps the most valuable profit we can gain from our time invested in this endeavor.

That wraps it up from my end for now. How was everyone's day? Mine was filled with a lot of house cleaning as I prepare to visit my parents in Austria this weekend. I plan to stay for a week, so anticipate some photography posts from me next week. Have a great one, and see you all next time.

Thanks for your attention,
Adrian