Mike Green offers a compelling critique of Bitcoin, revealing how its artificial scarcity creates a system that fundamentally concentrates wealth and power while undermining economic mobility for future generations.
• Bitcoin's fixed supply of 21 million coins creates a permanently deflationary environment that makes debt-based economic activity impossible
• Unlike gold, Bitcoin has no mechanism to increase supply when it becomes too scarce, leading to ever-increasing concentration of wealth
• The price of Bitcoin is directly correlated to money flowing into Bitcoin ETFs, not any intrinsic value creation
• Companies like MicroStrategy are effectively creating synthetic Bitcoin exposure through financial engineering that resembles Ponzi schemes
• Bitcoin's inelasticity means that as more money flows in, the price rises dramatically, benefiting early holders disproportionately
• Young people in a Bitcoin-dominated future would face insurmountable barriers to economic participation
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[00:00:00] Bitcoin's Fundamental Problems
[00:09:46] Gold vs. Bitcoin: Understanding the Difference
[00:21:18] The Deflationary Danger of Bitcoin
[00:34:00] Bitcoin's Inelasticity and Price Mechanics
[00:48:12] MicroStrategy and Financial Engineering
[01:01:20] Long-Term Societal Consequences
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Information presented on this program is believed to be factual and up-to-date, but we do not guarantee its accuracy, and it should not be regarded as a complete analysis of the subjects discussed. Discussions and answers to questions do not involve the rendering of personalized investment advice, but are limited to the dissemination of general information. A professional advisor should be consulted before implementing any of the options presented. Encompass More Asset Management LLC is a registered investment adviser with the U.S. Securities and Exchange Commission (SEC) and only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements.
