Prince Philip of Serbia: "only way around inflation is Bitcoin"

[nullama]

A bit of background about him here: https://royalfamily.org/royal-family/hrh-prince-philip/

To summarize, Prince Philip of Serbia was born in 1982, so he's relatively young, and is currently working with a global asset manager in London.

At a Serbian TV talk show, he mentioned a few things about his job:

"I analyze and mainly tell clients what happens with the market, what’s going on with their portfolios, and I speak with a lot of other analysts and a lot of other portfolio managers within the company. We help to make decisions … It’s a great experience to be an analyst. I learn a lot."

Interestingly, it seems that he has indeed learnt a lot about Bitcoin. This is what he mentioned on TV:

"Well we need to take the money away from the state.

Especially since that last financial crisis in 2008 when the extraordinary stimulus has been pumped into the economies. And since then with the Corona pandemic, unprecedented amounts of stimulus have been pumped into the economy and, of course, where is this money going to go? It’s going to create inflation.

I think we need to have hard money again. We need to have good quality money that’s not subject to inflation.

With Bitcoin, you don’t have the freedom to keep printing. You have a cap of only 21 million bitcoins that are going to be produced. Therefore it’s never going to be an inflationary asset and this helps to protect people.

And he also mentioned how Bitcoin is not tied to any country in particular, and how it can provide freedom to people:

"Bitcoin is freedom, and this is something I want for everyone."

Given that he's giving financial advice to people at his job, I think this is really interesting, and will probably end up with more people understanding Bitcoin better.

[crwth]

I do agree with the Prince. It is one of the solutions to inflation, and we need to act on it now. It may not be as big of an impact as you may expect, but that's how it will move forward. People need to understand how important that is to the economy. Having more BTC than fiat currencies; it's just to save its value, and continuing to do so would be suitable for financial stability.

It's good to see that Serbia has enacted a Digital Assets Act (DAA). Maybe other countries will follow suit as well.

[stompix]

“Well we need to take the money away from the state.”

Oh god, the royal family has just completely returned to Serbia a few years ago and he already wants to flee the country again?
Of course, he has no influence, the royal family is just on paper, he is not even the crown prince, he's the younger brother so not in line for succession but all around the remains of the Austria-Hungary empire, there are a lot of people who have some inexplicable hate for monarchies, especially after 50 years of communism brainwashing.

The three kinds are born in the west, educated in the US and UK in finances and spent a lot of time in different countries, it's no way they wouldn't see the obvious when a state is deeply corrupt you don't have a chance to oust corruption other than cutting the money flow, without money the corruption loses power. Good luck changing something there, if it comes to stubbornness and opposition you picked one of the worse spots to start with, especially now.

Back to the article, the author missed to highlight the most important thing:

When the topic of crypto came up, he started commenting on the value of cryptocurrencies, but after a few sentences, he corrected himself by saying, “Not crypto but bitcoin. It’s only about bitcoin.”

I'm starting to like this guy.

[jackg]

There's probabky two ways to take this:
1. The prince of quite a poor country stating they want control to be taken away from states and fiat currency could mean a way to allow for a fairer systems where the whole world competes with each other and we don't have things like furlough (during covid) which only wealthier countries could afford afaik.
2. The other way to take it is for what it is. Inflation itself drives a lot of inefficiency in the modern economy and, if it's removed, a lot of that inefficiency will go with it - eg people investing in assets or safer stocks and producing bubbles every recession.

[bittraffic]

^ Taking away the money from the state sounds very offensive to the government. Any media that will pick this up will really interpret this as a revolt against the monetary system. But it's true though. He certainly knows what he is saying. This is why the world will not be the same once cryptocurrencies are being adopted and treated as world reserves which FED Chair Powell also stated that there could be more than one reserve currency.

 

[Wind_FURY]

I do agree with the Prince. It is one of the solutions to inflation, and we need to act on it now. It may not be as big of an impact as you may expect, but that's how it will move forward. People need to understand how important that is to the economy. Having more BTC than fiat currencies; it's just to save its value, and continuing to do so would be suitable for financial stability.

It's good to see that Serbia has enacted a Digital Assets Act (DAA). Maybe other countries will follow suit as well.

It's a hedge, and not just a financial hedge, it's an actual hedge against the cabal who were NOT voted in by the people to be in control of the monetary system.

I believe next time we will hear such people as the prince say that Bitcoin is a protocol that can weaken political and financial strongholds. I believe the people are only starting to understand this underlying nature of Bitcoin's design. It is not priced in yet.

[Poker Player]

There is one thing I would highlight from this, regardless of whether he is a prince, and that is that someone who works in financial services in the City has such a positive view of Bitcoin. Let's remember that until not so long ago it was seen as junk. If people working in the financial sector are starting to see Bitcoin as we do it's a good sign.

...there are a lot of poeple who have some inexplicable hate for monarchies, especially after 50 years of communism brainwashing.

I don't know what good you see in monarchies. It is true that those who have questioned monarchies have traditionally been leftist movements, but to me that someone has a position of power simply for being someone's son seems to me more typical of primitive societies than of advanced societies in which one earns one's position by merit and not by birth.

Another thing is that monarchies today have an ornamental role more than anything else, but they usually enjoy public goods and have public resources allocated to them. I don't see why these privileges have to be assigned to someone by birth.

Btw: why do you write "poeple"? I first I thought it was a misspelling but as you always write like that, I am pretty sure you do it on purpose. Is it because you pronounce it like that?

Best, Poker Player.

[Flexystar]

Ahh, finally someone understand the importance of "limited" supply in the economic system. Always love it when someone actually comment on the limited supply and ever increasing demand can cause the price hikes and that is also without inflation. In bitcoin, there is no inflated rates because it behaves based on "decentralised" investments which are either being put into the crypto or may be they are getting sold off for the fiat. So yes, some bearish and bullish trends will surely come up. But that is completely fine as long as you are thinking about the bitcoin usage for very long time.

Unless and until you dont trade bitcoin into fiat you are actually loosing nothing. You are just trading bitcoin to bitcoin with whatever value it is currently getting recognised with.

Remember, whether fiat is loosing value due to economic crisis or some other unprecedented events then also bitcoin is going to be bitcoin.

[pooya87]

Bitcoin is indeed a good way around inflation and it is a working way too. But lets be honest, saying bitcoin is the "only" way is just a lazy statement specially from someone in power (I'm assuming the Royal family has at least some power).

The real way around inflation is to fight inflation. It starts by putting a leash on government and banks to prevent them from printing unreasonable amount of money just because it is the "easy" way of solving a financial problem they face like during the pandemic.

Take the 2008 example that was used here, we can't say the solution to that is bitcoin (although bitcoin offers the exit). The real solution to disasters such as 2008 is to first find the root problem and then weeding it out. The problem in this case was sever corruption of banking system. But of course in a democracy modern dictatorship of a carrot country the millions of jobs that were lost because of that corruption doesn't matter, the same corrupt banksters aka the minority received a ton of money while regular people aka the majority continued to suffer the financial crisis.
Obviously bitcoin offers an exit to the "majority" but I still believe the corruption should be fought before we look for an exit.

[stompix]

I don't know what good you see in monarchies. It is true that those who have questioned monarchies have traditionally been leftist movements, but to me that someone has a position of power simply for being someone's son seems to me more typical of primitive societies than of advanced societies in which one earns one's position by merit and not by birth.

I don't see anything spectacular in it, but I don't see anything completely bad in it either.
There are countries where it works, there are some where it doesn't, as for the leftist thing, the leftist part has come to a lot of time after the monarchy itself if we look at Norway or Sweden or Denmark.
I was pointing out the fact that the east is less inclined to restore them than the west, not that it's a good idea.

As for the poeple thing, I just checked, I added it to my autocorrect as a real-world by mistake, just between mempool and hodl, so I just have about 300 of them to correct. Gives a new meaning to learning from people's mistakes, doesn't it?  

[fzkto]

It shows that bitcoin is getting more and more popular now that people in government are starting to talk about it positively. All this hype certainly started during the last bull run, and now many politicians are claiming that bitcoin is a good hedge against inflation. Could this mean a price collapse is on the way? It seems strange to see positive comments about bitcoin coming from everywhere.

[Lucius]

Oh god, the royal family has just completely returned to Serbia a few years ago and he already wants to flee the country again?
Of course, he has no influence, the royal family is just on paper, he is not even the crown prince, he's the younger brother so not in line for succession but all around the remains of the Austria-Hungary empire, there are a lot of people who have some inexplicable hate for monarchies, especially after 50 years of communism brainwashing.

It's amazing what people are building a story about, a prince on paper who is still imagining a kingdom in which Bitcoin is likely to be the main currency. We had a little discussion a few days ago in the WO, and I was hoping we wouldn't have a topic like this in the BD - now I'm just waiting for someone to find out the price went up because of the prince

Given his (political) views, care should be taken that the current government does not attack him more than is currently the case (verbally). Their absolute leader (the Balkan version of Putin) killed people for fun 30 years ago, and if the prince gets involved in politics, it will not go well.

[tyz]

A bit of background about him here: https://royalfamily.org/royal-family/hrh-prince-philip/

To summarize, Prince Philip of Serbia was born in 1982, so he's relatively young, and is currently working with a global asset manager in London.

Okay, I did some research and, despite the noble title, this is just someone who is a consultant. But he has no decision-making power at all, because Serbia is no longer a monarchy. It's all well and good that someone with a princely title has this opinion, but it's also not worth more than many economists who are positive about Bitcoin. Or did I miss something in the intention of your thread?

[amishmanish]

Well. First things first.. Is Serbia a country?? Isn't it like a part of Russia??

Ohh ohh..Thats Siberiaaaa! LOL

Anyways, I am happy to know that HRH Prince Philip is actually working. I do wonder how he has ended up with asset management after studying what sounded to me like "Hotel Management". Well i guess, industry is no bound when you are royal blood.

All well as the Prince seems to be pretty sincere and open with his thoughts about Bitcoin having the ability to free people and take us to hard money. The quote about "We need to take money back from the state" is quite revolutionary. We need more of you Prince.

[NeuroticFish]

Well. First things first.. Is Serbia a country?? Isn't it like a part of Russia??

Ohh ohh..Thats Siberiaaaa! LOL

I wanted to say that your knowledge of geography sux, but then I had a second thought:
with so much cheering in Serbia about Putin's war, you may not be that wrong actually...
(Yeah, I know, I know, most Serbians are OK and what the media shows may hurt them as well...)

All well as the Prince seems to be pretty sincere and open with his thoughts about Bitcoin having the ability to free people and take us to hard money. The quote about "We need to take money back from the state" is quite revolutionary. We need more of you Prince.

Well, he's just a public figure with good views about Bitcoin. While I clearly don't mind more of those, unfortunately he cannot make much of a change. He may convince a few more give Bitcoin a chance, but that's all.

[examplens]

I do agree with the Prince. It is one of the solutions to inflation, and we need to act on it now. It may not be as big of an impact as you may expect, but that's how it will move forward. People need to understand how important that is to the economy. Having more BTC than fiat currencies; it's just to save its value, and continuing to do so would be suitable for financial stability.

It's good to see that Serbia has enacted a Digital Assets Act (DAA). Maybe other countries will follow suit as well.

a lot of Serbian politicians are themselves involved in Bitcoin and cryptocurrencies. Usually mining & low-cost electricity. They also recognized the opportunity to keep some of the money from corruption anonymously in Bitcoin, so this is one of the initial reasons why they are friendly to cryptocurrencies.

Oh god, the royal family has just completely returned to Serbia a few years ago and he already wants to flee the country again?
Of course, he has no influence, the royal family is just on paper, he is not even the crown prince, he's the younger brother so not in line for succession but all around the remains of the Austria-Hungary empire, there are a lot of people who have some inexplicable hate for monarchies, especially after 50 years of communism brainwashing.

It's amazing what people are building a story about, a prince on paper who is still imagining a kingdom in which Bitcoin is likely to be the main currency. We had a little discussion a few days ago in the WO, and I was hoping we wouldn't have a topic like this in the BD - now I'm just waiting for someone to find out the price went up because of the prince

Given his (political) views, care should be taken that the current government does not attack him more than is currently the case (verbally). Their absolute leader (the Balkan version of Putin) killed people for fun 30 years ago, and if the prince gets involved in politics, it will not go well.

yes, the royal family is essentially only on paper. they don't even enjoy any special benefits based on the title, although they don't even try to do something special. For example, the prince doesn't know his natural ^Serbian language.
it's certainly good to hear when someone with a pedigree says good things about Bitcoin.

I wanted to say that your knowledge of geography sux, but then I had a second thought:
with so much cheering in Serbia about Putin's war, you may not be that wrong actually...
(Yeah, I know, I know, most Serbians are OK and what the media shows may hurt them as well...)

it's a really long story and can be very complicated to explain.
Serbia is in a big dilemma here, in 1999 experienced similarly what is happening in Ukraine, bombing and destroying civilian infrastructure. So we certainly sympathize with the people of Ukraine, we know very well what they are going through. On the other hand, the attack on Serbia was by NATO, so it's hard to give support to someone who tore down your bridges, factories etc...

Unfortunately, a right-wing autocrat is currently in power in Serbia, and a good part of those who support him have a friendly attitude towards Russia. The problem for him is that elections are at all levels on April 3, so in case he condemned Russia and sanctioned them, he would pay the price by losing his position. it is to be expected that after the election, ^{in the event of his victory}, he will nevertheless impose sanctions on Russia.

certainly, the majority of the population has a reasonable attitude here, and are clearly against the aggression on Ukraine. They show it by various actions, but unfortunately, that part belongs to the media that have an autocrat against them and any information from that side is very difficult to get public.

[DapanasFruit]

There is no specific mention if the one he is working with is into Bitcoin or advising their clients who are interested into Bitcoin or cryptocurrency for that matter. Now, it is good to hear that someone of a royal blood coming from Serbia really understood how fiat money is working and how printing of more money is actually robbing the future generation just to stay afloat in the present. Inflation is now a main issue in many parts of the globe for many reasons and in the USA the administration of Biden is not getting a big success in dealing with it so much so that at the start of the Ukraine invasion they are seeing a golden opportunity of blaming Russia for the continuing rise of prices of even basic commodities. Reading through the quotes above from this prince, I am sure then that we have another Bitcoin supporter...and hopefully he is also a hodler.

[Lucius]

it's a really long story and can be very complicated to explain.
Serbia is in a big dilemma here, in 1999 experienced similarly what is happening in Ukraine, bombing and destroying civilian infrastructure. So we certainly sympathize with the people of Ukraine, we know very well what they are going through. On the other hand, the attack on Serbia was by NATO, so it's hard to give support to someone who tore down your bridges, factories etc...

What is happening in Ukraine has nothing to do with what happened in Serbia in 1999, and is the result of several bloody wars that Serbia has started in Croatia, Bosnia and Herzegovina and finally Kosovo. If you wanted a comparison, then you should have mentioned how Serbia, as a superior enemy, attacked Croatia, occupied a third of the country and killed over 400 innocent children in its bloody campaign, and the horrors that followed in Bosnia and Herzegovina are the worst crimes against humanity since 1945. People like President Vucic have personally participated in these crimes and are still in power.

certainly, the majority of the population has a reasonable attitude here, and are clearly against the aggression on Ukraine. They show it by various actions, but unfortunately, that part belongs to the media that have an autocrat against them and any information from that side is very difficult to get public.

I would not agree with that, most Serbs support Russia and the current regime, just as they continued to support the creation of a Big Serbia in 1991, and today they have a project of the Serbian world - in other words, nothing has changed in the past 30 years - Serbia still aspires to the territories of neighboring countries.

[NeuroticFish]

Serbia is in a big dilemma here, in 1999 experienced similarly what is happening in Ukraine, bombing and destroying civilian infrastructure. So we certainly sympathize with the people of Ukraine, we know very well what they are going through. On the other hand, the attack on Serbia was by NATO, so it's hard to give support to someone who tore down your bridges, factories etc...

You've mixed up apples and oranges very badly. I won't be as straight as Lucius, but I tend to agree with him.
Also Ukraine is not part of NATO, so your analogy doesn't stand.
No offense, but I hope that the average Serbian doesn't have this... distorted... view over the history.

[Beerwizzard]

At one side I agree with this guy that BTC as a major and legit cryptocurrency in a long run may save your long term savings from inflation, which is still risky.
But from the other side, it is very stupid to try making BTC a cure for every economic disease (especially if that was made for sake of using crypto). There are some more things that are pushing the inflation. For example: due to covid in the UK there was not enough truck drivers to deliver fuel to the gas station (and pretty much the same situations with usual retail). In this case deviations of supply and demand caused inflation. How da hell Bitcoin would save us from it?