Carnage at the Robotic World Championships, this evening n Beijing 🇨🇳💪😁. Great fun and an epic event

Did you know that “official time” is not actually confirmed in real time? UTC, the time standard the world relies on, is calculated afterwards by the BIPM using data from about 450 atomic clocks, maintained by around 85 laboratories around the world. So the time on your phone is a real-time approximation of a global standard that is later confirmed. In other words, even time, something we think of as absolute, as we blast through space, depends on agreed rules, measurement, verification and consensus. That is also what I find interesting about Bitcoin, with its value emerging from market consensus. In 1971, when the USD was cut loose from gold, the dollar began its modern fiat era. Since then, it has lost roughly 88% of its purchasing power. That is not a bug; it is part of the design. This is the modern debasement problem. With Bitcoin, there can only ever be 21 million BTC. Its supply is hard-capped. That does not make Bitcoin risk-free. Far from it. It is volatile, emotional, and still relatively early. Whether it succeeds, time will tell. But the logic is simple: it is an asymmetric bet. The lowest it can go is zero, but the upper limit is undefined. That is why it is important to understand it and allocate accordingly as part of a diversified portfolio. Or you can wait until your financial adviser explains that you should allocate 4–10% of your portfolio into a BTC position. How long before that happens? I give it 24 months.