It’s humbling.
To know, intellectually, that stacking any Bitcoin at all during this decade is going to set up future generations for stability and success, and yet sometimes, when catching some news bit about a price pump, I notice a primal sort of FOMO kick in.
There’s a voice that wonders, Is this it? Was yesterday the last time I’ll be able to accumulate a large stack? Will the fiat I earn tomorrow only trade for a fraction of the sats that they used to?
The answer over the long term is usually yes, that FOMO is entirely accurate. Not immediately. But eventually.
Even looking back a year or two, I remember trading just over $300 for two million sats (!!!) and thinking “this is a steal. Stack accordingly.”
Today that same amount of paper trades for less than 1/4 as many sats. And I’m still getting an absurdly unfair deal in my favor: dying paper monopoly money in exchange for true hard money. This is humbling.
Tomorrow it might be 1/4 of that again. The day will come soon, and again, and again. The impressive bit is that even as the ability to acquire Bitcoin slows, the significance of the thing you’re accumulating becomes larger. This is humbling.
In many ways, price really doesn’t matter. Because Bitcoin is not about massive wealth for early adopters — it’s about ethical money for the entire species. It’s not about longs and shorts and financial instruments and speculation — it’s about preserving the value of the thing you trade your time - your life force - in exchange for. This is humbling.
In some ways, “price” does matter. Austrian economists recognize how important free-market price signals are to the health of society.
It matters that Bitcoin is NGU technology. The fact that one’s purchasing power in Bitcoin terms grows over time is not only the Trojan horse that attracts most newcomers, softening their presuppositions and sparking the curiosity to learn about why it works. We all know the journey - the fire - ignited by that spark. It’s humbling.
The Bitcoin journey changes not only one’s relative financial stability (prerequisites: extraordinary patience, fortitude, equanimity, and commitment) but also opens doors to stabilze, expand, and improve, myriad other areas of one’s life.
Yet another way in which Satoshi built Bitcoin such that by expecting and encouraging each person to act primarily in their own self-interest, brilliantly aligns those actions with consequences that improve the world around us. It’s one of the more exquisite subtleties that Bitcoin represents.
Price is a signal, an incentive, and a feedback mechanism. It doesn’t mean bitcoiners should sit around calculating and predicting their future net wealth all the time. But maybe doing that once, and understanding why, is more than enough to set a person on the right track.
LOL so with that, here’s a fun and thoughtful “price episode” on the stephanlivera (npub1r8l…x5dk) podcast 😁
Stay humble and stack sats.
Cheers 🥂
https://fountain.fm/episode/sNeMchtwBqIiMwkn0RVS
bostonwine / boston wine
npub14q…e2q26
2024-09-27 18:33:51
Author Public Key
npub14qz92uedt0a8jte8jqg63jr3s5cc99cej36jh883z6tprlu354uqqe2q26Published at
2024-09-27 18:33:51Event JSON
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"content": "It’s humbling.\n\nTo know, intellectually, that stacking any Bitcoin at all during this decade is going to set up future generations for stability and success, and yet sometimes, when catching some news bit about a price pump, I notice a primal sort of FOMO kick in.\n\nThere’s a voice that wonders, Is this it? Was yesterday the last time I’ll be able to accumulate a large stack? Will the fiat I earn tomorrow only trade for a fraction of the sats that they used to?\n\nThe answer over the long term is usually yes, that FOMO is entirely accurate. Not immediately. But eventually.\n\nEven looking back a year or two, I remember trading just over $300 for two million sats (!!!) and thinking “this is a steal. Stack accordingly.”\n\nToday that same amount of paper trades for less than 1/4 as many sats. And I’m still getting an absurdly unfair deal in my favor: dying paper monopoly money in exchange for true hard money. This is humbling.\n\nTomorrow it might be 1/4 of that again. The day will come soon, and again, and again. The impressive bit is that even as the ability to acquire Bitcoin slows, the significance of the thing you’re accumulating becomes larger. This is humbling.\n\nIn many ways, price really doesn’t matter. Because Bitcoin is not about massive wealth for early adopters — it’s about ethical money for the entire species. It’s not about longs and shorts and financial instruments and speculation — it’s about preserving the value of the thing you trade your time - your life force - in exchange for. This is humbling.\n\nIn some ways, “price” does matter. Austrian economists recognize how important free-market price signals are to the health of society.\n\nIt matters that Bitcoin is NGU technology. The fact that one’s purchasing power in Bitcoin terms grows over time is not only the Trojan horse that attracts most newcomers, softening their presuppositions and sparking the curiosity to learn about why it works. We all know the journey - the fire - ignited by that spark. It’s humbling.\n\nThe Bitcoin journey changes not only one’s relative financial stability (prerequisites: extraordinary patience, fortitude, equanimity, and commitment) but also opens doors to stabilze, expand, and improve, myriad other areas of one’s life.\n\nYet another way in which Satoshi built Bitcoin such that by expecting and encouraging each person to act primarily in their own self-interest, brilliantly aligns those actions with consequences that improve the world around us. It’s one of the more exquisite subtleties that Bitcoin represents. \n\nPrice is a signal, an incentive, and a feedback mechanism. It doesn’t mean bitcoiners should sit around calculating and predicting their future net wealth all the time. But maybe doing that once, and understanding why, is more than enough to set a person on the right track.\n\nLOL so with that, here’s a fun and thoughtful “price episode” on the nostr:npub1r8l06leee9kjlam0slmky7h8j9zme9ca32erypgqtyu6t2gnhshs3jx5dk podcast 😁\n\nStay humble and stack sats.\n\nCheers 🥂\n\nhttps://fountain.fm/episode/sNeMchtwBqIiMwkn0RVS",
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