This rip of TFTC was brought to you by River.

It's the best place to buy Bitcoin.

Go to river.com slash TFTC and enjoy this episode. You've had a dynamic where money has become freer than free.

If you talk about a Fed just gone nuts, all the central banks going nuts.

So it's all acting like safe haven.

I believe that in a world where central bankers are tripping over themselves to devalue their currency,

Bitcoin wins. In the world of fiat currencies, Bitcoin is the victor.

I mean, that's part of the bold case for Bitcoin.

If you're not paying attention, you probably should be.

Gentlemen, we're here to discuss a timeless piece that turns 10 years old this week.

Speculative Attack.

Pierre, how does it feel to know that this piece is now officially 10 years old?

Yeah, on a personal level, it makes me feel old.

But at the same time, I did write it when I was young.

And yeah, it feels timeless still.

It reminds me of a classical song Bolero that has this very, very long buildup of just the same thing over and over, but louder and louder.

So I think that's kind of been the pattern.

And, you know, when I wrote it, I thought that speculative attacks would happen much sooner, much faster.

And I think that, you know, what I really didn't understand was how much people would rebalance their portfolios.

So, you know, there's lots of sell pressure on Bitcoin when the price goes up, which we don't like to hear as Bitcoin Maxis, but that's just the reality. So yeah, excited to be here and to be recognizing the 10-year anniversary.

Well, it is, again, a timeless piece in one, one of the first I share with people

when they ask, why should I, why should I not take out a mortgage and buy a house?

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