2022 made people realise value again. No more thinking of future earning potential; we want real value now! Canada now has 5.8% inflation and real estate sales have dried up due to high mortgage rates. Meat, the commodity, I like to produce is almost at 30,000 sats / pound. Hopefully more people will join me in producing meat because the demand for beef doesn’t seem to be slowing down. The reality is no one will start producing more meat unless they can get a loan guarantee from the Canadian government. We have become so Marxist in Canada that no company will take the risk on their own, they need the government to bear some of the risks just so the government will not change the rules without getting hurt themselves.
In my opinion, bitcoin has become one of the lowest risk investments. The Canadian government can not stop it or tax it. Therefore, you don’t have to get in bed with the government to produce value in the future. Ten months ago the Bank of Canada froze the movement of money causing a lot of Canadians to stop using the Canadian dollar as a means of exchange. I think this trend will continue in 2023. I don’t think I will onboard another 40 people because I am running out of people who know me and think I am smart. If Trudeau gets his wish and stops the production of gas and diesel then the purchasing power of the Canadian dollar will drop further. Hopefully the ease of transferring value out of the Canadian dollar into Bitcoin will continue to be painless. Bitcoin is becoming more and more a means of exchange and not just a store of value. Most people I talk to about bitcoin understand that to me bitcoin is about freedom and not about an investment to beat out the money printing. Bitcoin is about the ability to give your time and energies to whomever you want to give them to.
Happy 2023
Happy 2023