A Dollar for the Future: A Bitcoin Time Capsule Beneath a Century-Old Stairway Recently, the grange of which I am a member undertook repairs to a set of historic stone steps that had served the community for well over one hundred years. Time and weather had taken their toll, and it was clear that the steps needed restoration if they were to continue serving future generations. As work progressed, someone suggested an idea that quickly captured everyone's imagination: before the repaired stones were set in place, we would create a time capsule for the people who might one day repair these same steps a century from now. The capsule became a snapshot of our time. Members contributed various items that represented everyday life in the 2020s. There were menus from local restaurants, including our neighborhood pizza shop. Newspapers, notes, and other contemporary items were included to give future discoverers a glimpse into our community and how we lived. I decided to contribute someth...
House Prices, Gold, and the Illusion of Wealth In May of 2001, a person purchased a house for $149,000. Twenty-five years later, that same house is worth approximately $363,600. At first glance, this appears to be a tremendous investment. The value of the home increased by $214,600, a gain of about 144%. Most people would look at those numbers and conclude that the homeowner became significantly wealthier. However, the picture changes when we compare the house not to dollars, but to gold. In May 2001, gold traded for about $265 per troy ounce. The $149,000 used to purchase the house could have bought approximately 562 ounces of gold. Fast forward to today. Gold trades around $4,450 per ounce. If the homeowner sold the house for its current value of $363,600 and used the proceeds to buy gold, they could purchase only about 82 ounces. The comparison is striking: Year House Value Gold Price Gold Equivalent 2001 $149,000 $265/oz 562 oz 2026 $363,600 $4,450/oz 82 oz Measured in dollar...