In a recent podcast episode with Stephan Livera, I made a claim that Bitcoin was the greatest charitable movement in history and that its “donors” were those who actively support Bitcoin on a daily basis through automated buying of Bitcoin, mining (“donors of last resort”), educating and promoting (i.e., “stacking stackers”) and generally making Bitcoin more useful and accessible to others (development and building products). Until a better meme comes along, I will refer to these people as “The DCA Army.”
In this piece, I will not talk about the why or the how of the Bitcoin charity (that will be a much longer piece coming soon), but will focus on the mechanics of how it is entirely possible to create permanent price growth and stability through a coordinated, mass charitable effort.
So, strap yourselves in, suspend disbelief for the next seven minutes, and allow me to show you an extreme example of how the wealthiest, most charitable 2% of the world’s workforce — about 70 million people (less than 1% of the close to eight billion people alive today) — could very realistically create a permanently upwards sloping price floor for bitcoin, and drive the price toward a (relatively) stable price of $1 million per coin within a year or so.
I will first commence with the key definitions and assumptions, before diving into the hypotheticals and running the numbers.
For me, DCA stands for “daily charitable act,” but it is sometimes confused for “dollar-cost averaging,” well known as an investment strategy. It should be understood that buying bitcoin automatically on a daily or weekly basis, regardless of price or reason, is not an investment, or anything to do with money really — it is simply guaranteeing prompt victory for Bitcoin, so that it’s true charitable impact can be realized.
You may not be interested in the war, but the war is most definitely interested in you! We are, for better or worse, currently engaged in financial warfare against the legacy, proof-of-stake fiat system — “army” is a perfectly appropriate term.
Soldiers in the DCA army are fully on board with Bitcoin’s core philosophical and economic principles, and are simply migrating away from the Legacy system with every paycheck. Words are nice, but even the founding fathers of the United States knew that money would have to be involved:
Just as the ability to speak does not make one intelligent, ownership of bitcoin does not make one a Bitcoiner. It is estimated that there are already over 70 million bitcoin owners, however, if you aren’t buying every day or week, you can consider yourself a speculator.
Consider this; you have accepted Bitcoin for what it is and what it does. Why would you not slowly move all of your capital into bitcoin over time, then? Why…