Peter Thiel previously said this on Bitcoin:

“I would be long bitcoin, and neutral to skeptical of just about everything else at this point with a few possible exceptions,” Thiel said during a conversation Thursday at the Economic Club of New York. “There will be one online equivalent to gold, and the one you’d bet on would be the biggest.

“It’s sort of hedge of sorts against the whole world falling apart.”

Interesting twitter thread today from @eriktorenberg summarizing Peter Thiel’s worldview.

1/ Below is my perception/(limited) understanding of Peter Thiel's worldview: People don’t understand how important economic growth is. It’s the only thing sustaining the planet. Without it, we go into malthusian war. https://t.co/3m1pKt54Y3 — Erik Torenberg (@eriktorenberg) June 5, 2018

3/ Since 1970s, rate of economic growth has declined. From 1932 to 1972 avg income in US went up 350%. 1972 to 2012: It’s gone up by 22%. — Erik Torenberg (@eriktorenberg) June 5, 2018

5/ We haven’t had *enough* technological progress. Computer revolution has been significant, but not enough to make a dent in California, let alone the global economy. — Erik Torenberg (@eriktorenberg) June 5, 2018

7/ Decline has not only been felt economically, it’s been felt culturally. We’ve lowered our expectations in many different ways. For example: Energy: Nixon’s 1974 call for full energy independence by 1980 has given way to Obama’s 2011 call for one-third oil independence by 2020 — Erik Torenberg (@eriktorenberg) June 5, 2018

9/ Infrastructure: The Golden Gate Bridge was built in three-and-a-half years in the 1930s. It’s taken seven years to build an access road that costs more than the original bridge in real dollars. — Erik Torenberg (@eriktorenberg) June 5, 2018

11/ Different reasons for slow down: Libertarian answer — regulated too much… cost too much to invent new things.. Regulatory problem Liberal answer — invest in education and training scientists and engineers Conservative answer — military arms race that drove innovation — Erik Torenberg (@eriktorenberg) June 5, 2018

12/ Conclusion: “We’ve spent 40 years wandering in the desert, and we think that it’s an enchanted forest. If we’re to find a way out of this desert and into the future, the first step is to see that we’ve been in a desert.” — Erik Torenberg (@eriktorenberg) June 5, 2018

The last bit is of particular interest. Before change happens, we must first realize that the current state of things is unsustainable. Centralized fiat currencies worked a while but its clearly time to look for new solutions.

Bitcoin.

But hey, it’s not like current legacy institutions are gonna fail any time soon…amirite? Liberals stand up.

BREAKING: Government: Medicare will become insolvent in 2026, three years earlier than expected, Social Security to follow in 2034. — The Associated Press (@AP) June 5, 2018

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