Email just went out: (links turn to text, did include video titles in text)
Greetings Central PA Bitcoiners!
Our monthly coffee meetup is this Sunday, Oct 27th, at Denim Coffee in downtown Mechanicsburg. Come join us at 1pm!
This is the second time I've used "then they fight you" in the subject of an email. The first time was in April of this year, and it was referring to the arrest of the Samourai developers. There were some news items this week that evoke that same notion.
1. ECB economists publish a paper attacking bitcoin
2. Italy proposes plan to increase capital gains on bitcoin from 26% to 42%
3. Minneapolis Fed suggests banning or taxing bitcoin to sustain deficits
The hypocrisy is off the charts with these. In the first one, the argument is made that early bitcoin adopters are getting rich and capturing wealth from later adopters, in a zero-sum scenario. Of course, this is not zero-sum, and it's how holders of any capital asset are compensated for their risk and correct choices. People who bought AAPL at $1/share 20 years ago are able to realize profit due to the buyers that value it more than that now. Likewise, today's asset buyers will profit in the future if future buyers value it more than they do now.
A wonderful juxtaposition with these news items is a recent video which compares the current Bitcoin-focused pushback to pushback against past disruptive technologies, entited "Bitcoin and the Death of Energy Misinformation" on Swan's YouTube channel. There is a long history of instances where the old guard attempts to FUD the thing that's disrupting them. For example, the bicycle came to prominence in the 1890's, and disrupted several existing industries: horse and buggy, riding apparel, railway, and public transit. A newspaper article was written that claimed "the bicycle to be the most dangerous thing to life and property ever invented". The bicycle since has become the most ubiquitous means of mechanical transportation worldwide.
Lastly, I'll leave you with this gem of a video I recently came across called "Six reasons to withdraw your bitcoin from exchanges" by Arman The Parman. My favorite is reason #6: "Unless you take coins into your own custody, you will never fully appreciate how bitcoin works. If you don't appreciate it, you won't buy enough of it, and this you will regret." Reminds me of the saying "let your education drive your allocation".
Enjoy the rest of your week, friends. Hope to see you on Sunday!
~Lonelypumpkins
Central PA Bitcoiners
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Lonelypumpkins
npub1je…ys82z
2024-10-22 15:47:54
Author Public Key
npub1jextjwgfkzspzk7h0yl6j27a8aqkaumncwajsrmmvsff5gt20q7slys82zPublished at
2024-10-22 15:47:54Event JSON
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"content": "Email just went out: (links turn to text, did include video titles in text)\n\nGreetings Central PA Bitcoiners!\n\nOur monthly coffee meetup is this Sunday, Oct 27th, at Denim Coffee in downtown Mechanicsburg. Come join us at 1pm!\n\nThis is the second time I've used \"then they fight you\" in the subject of an email. The first time was in April of this year, and it was referring to the arrest of the Samourai developers. There were some news items this week that evoke that same notion.\n\n1. ECB economists publish a paper attacking bitcoin\n2. Italy proposes plan to increase capital gains on bitcoin from 26% to 42%\n3. Minneapolis Fed suggests banning or taxing bitcoin to sustain deficits\n\nThe hypocrisy is off the charts with these. In the first one, the argument is made that early bitcoin adopters are getting rich and capturing wealth from later adopters, in a zero-sum scenario. Of course, this is not zero-sum, and it's how holders of any capital asset are compensated for their risk and correct choices. People who bought AAPL at $1/share 20 years ago are able to realize profit due to the buyers that value it more than that now. Likewise, today's asset buyers will profit in the future if future buyers value it more than they do now.\n\nA wonderful juxtaposition with these news items is a recent video which compares the current Bitcoin-focused pushback to pushback against past disruptive technologies, entited \"Bitcoin and the Death of Energy Misinformation\" on Swan's YouTube channel. There is a long history of instances where the old guard attempts to FUD the thing that's disrupting them. For example, the bicycle came to prominence in the 1890's, and disrupted several existing industries: horse and buggy, riding apparel, railway, and public transit. A newspaper article was written that claimed \"the bicycle to be the most dangerous thing to life and property ever invented\". The bicycle since has become the most ubiquitous means of mechanical transportation worldwide.\n\nLastly, I'll leave you with this gem of a video I recently came across called \"Six reasons to withdraw your bitcoin from exchanges\" by Arman The Parman. My favorite is reason #6: \"Unless you take coins into your own custody, you will never fully appreciate how bitcoin works. If you don't appreciate it, you won't buy enough of it, and this you will regret.\" Reminds me of the saying \"let your education drive your allocation\". \n\nEnjoy the rest of your week, friends. Hope to see you on Sunday!\n\n\n~Lonelypumpkins\nCentral PA Bitcoiners",
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