Lysander Spooner

Nostrich conservationist - Slavery abolishionist#Nostr #nocoiner

Public Key

npub1avmz5jk4c409lupvak5ra244m06w30s840kz2c2mkt37h0lhh4sskqmfgw

NIP-05 Address

lysanderspooner@iris.to

Profile Code

nprofile1qqswkd32ft2u2hjl7qkwm2p7426aha8ghcr6hmp9v9dm9clthlmm6cgpzemhxue69uhhyetvv9ujumn0wd68ytnzv9hxgqgewaehxw309aex2mrp0yh8xmn0wf6zuum0vd5kzmp043vu89

Publishing to

relay.nostr.band

relay.snort.social

relay.noswhere.com

Author Public Key

npub1avmz5jk4c409lupvak5ra244m06w30s840kz2c2mkt37h0lhh4sskqmfgw

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Published at

2023-03-01T16:58:24Z

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Event JSON

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Last Notes

2024-10-25 11:42:31

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Nothing, have you thought about it for 4 seconds? If you expect your money to be worth more next month, why would you hire Johnny to mow your lawn this month? You won't, you'll DIY and suffer the opportunity cost of doing something more valuable with your time. Multiply this effect and NGU is enough to gum up an entire economy. By discouraging transactions, because your 'medium of exchange' is influencing purchasing or abstinence decisions.

2024-01-14 21:44:10

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Merchant-generated and backed credit notes are how we traded before 'money'. We go back to that.
The premise and etymology of 'money' gets us stuck thinking There Can Be Only One. When there's only One Money in a system, you have a massive single point of failure. It's an awful design. When Bitcoin's price changes, ideally (in your view) billions of people would be affected all at once.
Not so in a system where everyone holds credit with dozens of merchants. When one merchant goes under their own credit hyperinflates - and nobody else's. This whole idea we need to yolk all of society together under One Money so they can sink or float all at once has to go.
Massive decentralization is the way forward. It isn't difficult to run a traceless credit system. That's how the world worked and survived tyrants; when you 'break even' the ledger is smashed into a million pieces. Bitcoin is the opposite of 'traceless', it forces your transaction into a permanent ledger.
Pear Credit had the right approach (no blockchain, no permanent ledger, no transaction costs) but the project was announced by the Tether team in Nov 2022 and immediately memory holed. I am Jack's lack of surprise. cashu seemed to have hit on the same approach but couldn't help chaining itself to the block (or he's just rebranded to appeal to maxis, I can't figure out of it's still usable without the blockchain).

2023-11-28 18:28:33

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Handy! Thanks for sharing. Will be using this one.

2023-06-22 15:24:10

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Great job on https://nodeless.io BTW @npub1utx…50e8 looks fantastic, neat API docs, too.
I can appreciate as a developer what I disagree with in principle (massively centralized, eternal immutable ledgers aka blockchains masquerading as decentralized and somehow freedom enhancing). To measure is to manage. ;-)

2023-06-22 15:18:09

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True, but if you want a short and sweet daily (10-15m) to work everything just once, I just followed this and #feelsgoodman https://www.youtube.com/watch?v=velPc7_mFsk

2023-06-22 15:15:53

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This is Nostr. Bitcoin is a centralized, distributed database calling itself 'decentralized' when it's about as decentralized as Netflix or Facebook. Distributed nodes do not a thing decentralized make. As long as they constantly attempt to sync up to one authoritative global state, however determined, you got yourself a centralized database. In my view, all the Bitcoin ads flooding everyone's feed ended this akshully decentralized protocol (Nostr's) growth in popularity.

2023-06-15 10:53:56

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Ah yes, you need to replace the One False System with the One True System.
Bitcoin maxis are monopolists who forsee a mono-polar solution to all the issues of finance: The Almighty BTC. Everything else is a 'shitcoin', even physical options that, you know, can work offline and without electricity. Maxis hate decentralization, which literally means a plurality of solutions to choose from, not One True Coin to shill.

2023-06-15 10:44:00

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You can upload up to 10 hours of audio (or paste a YouTube URL) and ask natural language questions of it (e.g. what were the main takeaways?) at https://www.assemblyai.com/playground/v2/

2023-06-06 09:24:53

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Yeah, like the implementation of a digital surveillance grid ushered in as temporary emergency measures.

2023-05-03 20:01:57

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Every 3rd post is a Bitcoin ad. That's probably why Nostr failed and growth is now negative. https://stats.nostr.band/

2023-05-03 19:59:44

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Nostr is shrinking, not growing. It failed to reach critical mass because every 3rd post (generously) is a Bitcoin ad.
https://stats.nostr.band/
Look closely at the month-separated Retention of all users, 30 days after signup, %

2023-05-03 19:57:19

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LOL Bitcoin maxis HATE the idea of decentralized plurality of solutions to the problem of currency. Ask 'em. They're monopolists.

2023-05-03 19:55:35

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Did we find one with Bitcoin yet?

2023-05-03 19:54:37

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This is in direct opposition to the Austrian school, which realizes prosperity excretes only from win-win exchanges.
If you expect your 'money' to be worth more next month, you are less likely to hire Johnny to mow your lawn this month, costing Johnny his income and costing you the opportunity cost of mowing your own lawn.
Deflation discourages exchanges and encouraging HODLing, which is a completely opposing theory.

2023-05-03 19:51:18

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Failed to reach critical mass due to every 3rd post being a Bitcoin ad.
Growth went sideways then negative months ago.
https://stats.nostr.band/
Saddest one is the "Retention of all users, 30 days after signup, %"

2023-04-26 18:04:02

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You can't put videos on nostr. Having the letters in a domain name doesn't make a centralized media host "Nostr"

2023-04-26 17:36:14

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Blockheads think their grand unified blockchain is 'decentralized' because it's hosted on multiple nodes. Nope. Because all those nodes attempt to sync up to a single authoritative global state, it's centralized and just distributed.
They don't understand why Nostr doesn't have a single global state or the tokenomics required to maintain it. Because it's not centralized at the data layer, like 'a' blockchain is.

2023-04-26 11:32:53

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You and I on an island. How would Bitcoin make both of us better off simultaneously? It can't. Adding a fixed-pie betting pool redistributes, it cannot generate, wealth.

2023-04-26 11:30:36

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Imagine thinking economic prosperity comes from hoarding, not exchanging.

2023-04-26 11:28:44

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The utility of a banana doesn't double when you cut it in half. The utility of a digital medium of exchange does. The quantity of units of exchange (sats) is 14X LESS scarce than the quantity of units of exchange (cents) in the Federal Reserve system.
In fact, the Fed can print at their avg historical rate for another 1,480 years before sats are any scarcer than cents. So much for chasing units of exchange!

2023-04-26 11:25:49

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Distributed is not decentralized. We're talking on decentralized ledgers *because* the nodes don't sync up. Bitcoin nodes sync to one authoritative global state, like Facebook or Twitter, because it's a centralized and distributed database. The difference is that the CDN is public, not that the ledgers are decentralized.

2023-04-26 11:21:53

"You can't make an omelette without breaking a few eggs." Yeah?
You also can't make an omelette by cracking a few heads, you sick fuck.
However you think your master plan for others is going to turn out, unless it comes about by non-coerced individual consent, we know it won't be anything akin to a beautiful, fluffy omelette. You can stop sneaking that assumption in.

2023-04-25 18:24:29

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Present!

2023-04-25 18:23:43

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Like any fixed pie betting pool.

2023-04-25 18:22:44

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Lots. cents are 14x scarcer than sats.

2023-04-12 14:00:55

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#[3] That means 1 sat = 1/14th cent. 14 sat = 1 cent

2023-04-12 10:59:37

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Please learn the difference between actual decentralized data stores like Nostr and massively centralized + distributed data stores like Bitcoin

2023-04-12 10:37:24

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Plebchain?! Duck that. Plebs are for akshully decentralized relays, not a centralized ledger distributed over nodes that sync to the same version, like any CDN.

2023-04-12 10:35:08

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There are 2,100 trillion sats and only 150 trillion cents in global circulation.

2023-04-10 15:41:04

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Wait til he learns about electronic money.

2023-04-03 19:38:55

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Hooray another monopolist pushing grand unified blockchains on a blockchain-free, akshully decentralized protocol. And we wonder why growth has gone sideways. Every 2nd post is a Bitcoin maxipad ad.

2023-03-29 19:29:41

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Blocked for being an entitled prat with Cameri

2023-03-27 21:41:53

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All the most complex systems we know of were built bottom-up. Even what humans do: Language. Villages. Economies. The Internet. If there was a central planner, a Ministry of Language established in 1605, we would all be stuck talking like Shakespeare forfooth.
All the best thing nature or humans do are bottom-up. https://www.youtube.com/watch?v=iQhkrYqA7S4&t=42s
The idea of a central planner that can outdo bottom-up decentralized effects, aka chaos, comes from millenia of political propaganda. Politics, of course, being the father of religion. The first kings were gods. God is modeled as a King of Kings and widely believed to have his representatives on Earth in Rome.

2023-03-27 21:33:26

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A fool just throws insults instead of addressing arguments, as we see here.

2023-03-22 08:50:03

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#[2] You did in fact respond. You just skipped the point I made about every bit of "ROI" coming out the pockets of the people you're thus motivated to onboard.
Happy gamblin', hope you don't bankrupt too many more retirees.

2023-03-22 08:45:01

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Must be glad I offered you that out, then. Buttcoiners don't respond to anything of substance.

2023-03-22 08:39:13

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Nice perspective. I read it as:
Did you have the will? What did you do with it?
And now am thinking about all the things I once started.

2023-03-22 08:35:51

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So, paid ads?

2023-03-22 08:31:51

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Investments 😂. When every cent of profit comes out the pocket of a fellow "investor" and nowhere else it's called a fixed pie gambling pool, darling.

2023-03-22 08:29:01

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https://saylortracker.com is down huge.
https://nayibtracker.com is down huge.
Buttcoiners still celebrate people "putting their retirement money" into their fixed pie gambling pool.
You believe Aunt Suzie is gonna outperform Bukele and Saylor, or you just a degenerate gambler who will is happy as long as she's pumping your bags?

2023-03-22 08:20:46

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https://nostr.build/i/nostr.build_b624cfba12ea503875844a931716faad1a96cdbcb4ba71d1703a12cadd6c0e3a.jpg

2023-03-22 08:17:17

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The reason I don't post/explore and spend more time here is that every 2nd post is a Bitcoin ad and every 3rd profile picture an animated Bitcoin ad.

2023-03-19 18:07:01

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Please, and thank you. I lovelolovNostr for its decentralization thanks to rejection of a blockchain and it's hard to keep using it faithfully while every 2nd post is a blockchain shilling.

2023-03-19 12:58:06

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Distributed is not decentralized

2023-03-19 11:18:40

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Hahahahahahahahahaaaaaaa there go the goalposts

2023-03-19 11:17:24

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Wait til they realize there are 14X more fundamental utility units of BTC than USD.
2,100 trillion sats vs 150 trillion cents in circulation. The Fed can keep expanding the supply as it has since its founding for another 1,540 years before sats are scarcer than cents.

2023-03-19 11:11:36

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Which part of this don't you understand: sats are 14 X more common than cents.
There are 14 X more sats after 15 years than there are cents after 110 years of the Fed printing.
They will never be as scarce as cents.
The psyop around 21M is that a BTC is a collective noun for 100,000,000 units, not 100. The current limit on sats is 2100 trillion. The current number of cents in circulation is 150 trillion, cents are 14X more scarce than sats.

2023-03-19 11:00:10

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Lol it takes less to raise the arbitrary fiat limit of Bitcoin than USD. 21M (really 2 quadrillion 100 trillion units) was completely arbitrary, it doesn't even appear in the holy white paper. You have 6, now 5 core developers with write access to the centrally hosted Github. Nobody has or will consider any fork the real deal. But all of that is beside the point. USD can keep expanding at the rate it has since the Fed was established in 1913 and it will take 1,540 years for sats to become as scarce as cents.

2023-03-19 10:23:00

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On what basis is it expected to go up, centrally planned artificial scarcity? Yeah right. A Bitcoin is just a collective noun for sats. There are 2,100 trillion indivisible trading units of Bitcoin (sats) and only 150 trillion indivisible trading units of USD (cents).

2023-03-19 10:05:19

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Awkward when you realize those 2 quadrillion 100 trillion sats are an arbitrary decree (fiat) and means there are 14x more sats than cents (only 150 trillion) in the world.

2023-03-16 21:59:38

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Serious cope. If you thought an investment wasn't going to go up for 3 years, why would you lock your money up there? Come back in 3. The truth is, Saylor and Bukele misread Bitcoin horribly (-$1BN and -50% respectively). They should have HODLd USD then they could buy 2x the BTC today, by doing nothing else.

2023-03-16 01:48:01

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Through decentralized relays. Each of the relays that sent me your message has a different set of messages and they never try to sync up (well, it's not in the protocol). If all the relays synced with each other like Bitcoin nodes or the Facebook CDN, Nostr would not have a decentralized data layer, but a centralized and distributed one.

2023-03-16 01:44:20

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https://saylortracker.com is down almost $1BN vs. if he bought his first BTC today, March 2023.
https://nayibtracker.com is down 43% meaning he could buy nearly 2X the BTC he bought if he HODLd USD through your FUD until today.
But keep running with this "getting in early meant profit" myth. I'm sure your Aunt Jenny will outperform a Bukele or a Saylor.

2023-03-16 00:05:14

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Which of those do Bitcoiners not have?

2023-03-16 00:02:09

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https://www.openstreetmap.org/

2023-03-16 00:00:57

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Relay Group selection when you make a new Note would enable decentralized communities. Aping Twitter and hiding Relays under Profile Settings broke Nostr.

2023-03-15 23:58:34

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The work ethic of a champagne socialist.
Imagine everyone here was talking about their hustles bringing goods and services to market, satisfying people's wants most urgently felt, instead of trying to "buy in, sit back and trust the plan" and somehow all get rich out of your fellow buyers pockets. Yawnfest!

2023-03-15 23:53:14

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It's an oxymoron alright. We're here for the decentralization and you guys keep shilling your centralized database.
Distributed is not decentralized, and Nostr should teach you the difference.
Every resilient centralized database in the world, from Twitter to Bitcoin, is distributed across thousands of nodes.
What makes a data layer 'centralized' like Twitter is that those nodes always try to sync up to the same authoritative global state.
What makes Nostr 'decentralized' is that there is no conception of nodes syncing up to make multiple clones of the same exact data.

2023-03-15 23:49:55

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There are 14 X more sats than cents for everybody in the world to share.
The basic utility unit of BTC is 14 X LESS scarce than the basic utility unit of USD.

2023-03-15 23:48:45

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Bitcoin sats in 15 years: 2,100 trillion
Fed cents in 110 years: 150 trillion
Scarcity is a psyop. The fundamental unit is the indivisible unit.
USD is a collective noun for 100 individual units.
BTC is a collective noun for 100,000,000 individual units.

2023-03-15 23:41:43

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You mean like Bitcoiners have?

2023-03-15 12:48:55

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How many? Then the situation is even more dire!
There are only 150 trillion cents in global circulation, The fundamental indivisible unit of USD. There will be 2,100 trillion sats in circulation, and it's not even the fundamental indivisible unit? That's already 14X

2023-03-15 09:08:42

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#[9] the USD could keep printing at the median rate since its founding and it would take 1540 years before sats are scarcer than cents LOL!

2023-03-15 08:52:38

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#[9] Cents after 110 years are 14 X scarcer than sats after 15 years.

2023-03-15 08:49:41

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Why would it ever need to be raised to inflate vs the cent? Is Earth's population gonna 14 X?
PS: The BTC cap is easier to change than the Fed interest rate. 6, now 5 devs with write access. No one ever called a fork the real deal. The 21M cap doesn't even appear in the white paper. Sorry, The 2 quadrillion 100 trillion cap.

2023-03-15 01:01:10

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Nostr's great in theory but the implementation is turning out to be as centralized as it gets, with services like Blastr who connect to every known relay to gradually convert it into a distributed, rather than a decentralized, database.

2023-03-15 00:53:48

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You found one! #[1] "we know where it's going long-term" is that based on the "21M limit" psyop?
There will be 14 X more sats than we have cents in circulation.
The sat is the indivisible, fundamental unit of BTC.
The cent is the indivisible, fundamental unit of USD.
BTC is simply a collective noun for "100 million sats".
USD is simply a collective noun for "100 cents".
There will be 21 million BTC aka "2,100 trillion sats" in total circulation.
There are 1.5 trillion USD aka "150 trillion cents" in total circulation.
There will be 14 X more sats than we have cents in circulation.

2023-03-15 00:47:51

The cent is the indivisible, fundamental unit of USD.
USD is then simply a collective noun for "100 cents".
There are 1.5 trillion USD aka "150 trillion cents" in total circulation.
The sat is the indivisible, fundamental unit of BTC.
BTC is then simply a collective noun for "100 million sats".
There will be 21 million BTC aka "2100 trillion sats" in total circulation.
There will be 14 X more sats than we have cents in circulation.

2023-03-15 00:46:15

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Never said you did. You maxis are so economically astute you can't tell the difference between utility and valuation.
The cent is the indivisible, fundamental unit of USD.
USD is then simply a collective noun for "100 cents".
There are 1.5 trillion USD aka "150 trillion cents" in total circulation.
The sat is the indivisible, fundamental unit of BTC.
BTC is then simply a collective noun for "100 million sats".
There will be 21 million BTC aka "2100 trillion sats" in total circulation.
There will be 14 X more sats than we have cents in circulation.

2023-03-15 00:41:27

There are 14 X more sats than cents in circulation.

2023-03-15 00:40:32

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How many developers have write access to the centrally hosted repository on Github? 6, now 5?

2023-03-15 00:39:41

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As in, total amount of USD in circulation is estimated at 1.5 trillion dollars
x 100 cents per dollar = 150 trillion cents, the fundamental indivisible unit of USD.
There are 14 X more fundamental units of BTC than USD.

2023-03-15 00:37:53

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2,100 trillion fundamental units of BTC.
Know how many USD cents there are in circulation? 150 trillion

2023-03-15 00:35:30

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Your example is so obviously flawed, it's no wonder you have trouble with these concepts. When you say "making it $2,000" you switch from talking about utility to valuation.
I never claimed the valuation of a sat is the same as the valuation of a BTC. I said the utility of a sat is the same as the utility of a BTC.
Which makes the SAT the fundamental "unit" of Bitcoin, and the BTC simply a collective noun for 100,000,000 units.
The number of units is not 21M but 2 quadrillion 100 trillion.

2023-03-15 00:28:23

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Well done! It's only 2 quadrillion 100 trillion.

2023-03-15 00:26:54

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My guess is Bitcoin is the global digital currency developed by the WEF and LSE. They control 'both options' and CBDC vs. Bitcoin is no different than Republicans vs. Democrats. We know how they work. Never run to *the* presented monopolar solution.

2023-03-14 11:55:20

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Always planned that way, since at least Jan 1989. That this is about Bitcoin has been my careful opinion since 2014:
http://www.coverbrowser.com/image/economist/1678-7.jpg

2023-03-14 11:50:33

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No, there's 4 quadrillion units. The 21M is a psyop that doesn't apply, because the units are divisible without losing utility.
If you cut a banana in half, it doesn't full two people the same as a whole banana each. If you cut a tractor in 10 pieces, you don't have the same utility as 10 tractors.
Not so with Bitcoin. A division of a Bitcoin fulfills the same purpose as a whole Bitcoin. It loses no utility on account of it's division.
If you could slice a banana into 100 pieces and each piece still satisfied the same wants as a full banana, you have effectively expanded the supply of whole bananas.
The supply of units on the Bitcoin blockchain will be 4 quadrillion, if we imagine it will never ever change (tho that requires less sign-off than a Fed interest rate hike).

2023-03-14 01:15:49

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That's not insight, that's called a tautology. A = A doesn't communicate any wisdom, just the illusory response of feeling right, which our monkey brains associate with wisdom.
#[4] That Saylor and Bukele lost is a realized fact of history. Both expected the price to go up because they thought a wise central planner (whose identity is hidden) could mathematically enforce deflationary effects, through centrally planning the rate of supply and deploying Keynesian tactics such as "the halving".
So you can skip pretending this is a case of a few people failing to "time the market". It's a case of a central plan shown to have no clothes when it meets the market.
"Nobody knows the exchange rate tomorrow, next month nor next year" is a sly change of tune for someone who tells the world Bitcoin is mathematically guaranteed to increase in relative value over time to other goods and services. Central planning fails. This central plan failed. Bitcoin has even managed to outpace the dollar's inflation.
Saylor is $1.3BN down and you're trying to imply he would have bought early anyway if he knew what the price would be today. Bukele down over 50% and you suggest the same? That's some serious cope, can I have a hit?

2023-03-14 01:02:39

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CBDCs are the bogeyman, the globalist's new digital global currency has always been Bitcoin. AMA.

2023-03-14 01:00:47

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Yuss! One of the only Nostriches who hasn't voided Nostr's killer feature by having my pubkey tied to another identity in another database.

2023-03-14 00:57:53

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No you won't, you can't zap a nocoiner. ;-)

2023-03-14 00:55:56

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In my careful opinion, Bitcoin has always been the global centralized (distributed is not decentralized) ledger and digital currency lined up by the WEF and LSE (London School of Economics, founded by the Fabian Society whose stated goal is 'international socialism through gradualism) for when they phase out national currencies, as predicted on the cover of that Rothschild rag The Economist back in January, 1989.
The Soviet Union and any proudly Communist / Socialist bloc is famous for it's miles of filing cabinets. Because they want to replace private property with State planning, every resource and every transaction had to be logged in an endless double entry accounting chain. The first bloc chains.
Now we get to behold the spectacle of self-professed fans of decentralization using an akshully decentralized protocol to shill a single monopoly on money, cheer when it's instituted by countries as legal tender (using the State to force people on board) and worship the blockchain, that eternal immutable double entry accounting record of every transaction across the fucking currency in one database. Distributed is not decentralized. Every resilient centralized database, from Twitter to Bitcoin, is hosted on thousands of nodes. The real difference is Twitter has a private CDN and Bitcoin has a public CDN. The D in CDN stands for distribution. Nostr doesn't have a CDN because there's no single authoritative database to widely distribute. Decentralized ledgers have no concept of syncing up to a single authoritative global state. Bitcoin nodes do.

2023-03-11 08:37:55

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It would defeat the killer feature of Nostr to tie every Note to my identity in another database.

2023-03-11 08:31:44

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See? Prophecy based cults are unfalsifiable. Up is good. Down is good. Sideways is good. Even if the prophecy said up, footcha is never finished.

2023-03-11 08:27:25

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Biggie here is you can have the same Tasks / Notes in multiple different Lists, then Share specific Lists with people without them getting access to your entire workspace data (Notion's deal breaker). Perfect if you are billing multiple clients for the same Task.

2023-03-11 08:24:59

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Left it behind for the sheer joy of https://height.app

2023-03-11 08:20:41

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Bitcoin maxis reach consensus that it's not worth spamming Nostr with an orgaistic Bitcoin ad every 2nd post. Nocoiners who login start to find their signal and stick around. A guy can dream.

2023-03-10 22:26:41

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To be honest, I don't give a toss about macro economics. Net inflation and net deflation are Keynesian concerns. They put the cart before the horse, it's top-down thinking, like 'Satoshi' the central planner who thought he could enforce net deflation mathematically to get deflationary effects on the ground. Or, just wanted to bankrupt us all.
All I care about is net prosperity. What encourages voluntary exchanges -- the only place net prosperity excretes from, in the Austrian view -- and what doesn't. HODL is the opposite of exchange. Bitcoin is worse than a net-zero fixed pie gambling pool. It introduces net poverty, since it discourages voluntary exchanges in the present. Look at the lifestyle of the avg. Bitcoiner. That's a result of thinking and living like a Keynesian, not an Austrian, who makes as many voluntary exchanges as possible, understanding the buyer also profits from each one, in his own estimation (or he wouldn't have voluntarily bought).

2023-03-10 22:13:14

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In terms of what... use cases?
Lol.
https://nostr.build/i/nostr.build_5d501f5f285b5b1357fb9ed7c674ed30032deeb46ea6907d8a4b5f0bdecded41.png

2023-03-10 22:07:58

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Out of curiosity, do you think we can run out of agreements? Back rubs? Material per se? Water, of which we have the same amount we always did?

2023-03-10 22:05:32

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The rate of supply was centrally planned and artificially fixed in advance.
Bitcoin opted for a centrally planned rate of supply instead of a market determined rate of supply. This means the rate of supply is unresponsive to swings in demand.
The issue with this is, as the Austrian school will tell you, a market-determined rate of supply is *the* price stabilizing mechanism.
- When demand for tomatoes goes up, the price goes up, but supply also goes up which brings the price back down. A stabilizing mechanism.
- When demand for tomatoes goes down, the price goes down, but supply also goes down which brings the price back up. A stabilizing mechanism.
By removing the market determined rate of supply, and opting instead for wise central planners to determine the rate of supply in advance, Bitcoin has guaranteed price volatility, forever. It is missing the stabilizing mechanism. All it takes to swing the price is a swing in demand (real or faked). This is why it's so easy for a whale to prime the price before a big move by selling artificially low or high between their own wallets via the exchanges. Always will be.
Volatility matters because, like it or not, nobody can perform accurate economic calculation in advance if the price can swing 10% in a day. Talk about a way to screw up and economy for The Great Reset. That's what I think Bitcoin is for. It's engineered to discourage voluntary exchanges in favour of hoarding (HODL), which makes everyone poorer because exchanges are the only place real wealth comes from -- a felt improvement in standard of living for all parties. The central planners were ostensibly trying to engineer deflation (it's not working, see below -- it's inflating faster than a rapidly inflating USD).
https://nostr.build/i/nostr.build_5d501f5f285b5b1357fb9ed7c674ed30032deeb46ea6907d8a4b5f0bdecded41.png

2023-03-10 21:54:47

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MFer did you just throw every Keynesian argument against Austrian economics at me in one go?
Where does prosperity excrete from? If you said 'resources' or 'labour' or 'the printing press' or 'a Bitcoin mining rig' you are nowhere near the Austrian model.
Prosperity excretes from the felt improvement in standard of living for all parties to a voluntary transaction.
"I just know that you can't grow an economic system forever on a finite planet" -- what exactly are you going to run out of? Mutually beneficial agreements? Because that's THE ONLY THING that grows an economy on net.
This finite thinking leads to "them immgrants r takin are jarbs", as if there's a limited number of agreements people can make. A job is not a thing, it's not a physical object, nor is a voluntary interaction. You can't run out of them. A job pops into existence the moment you convince anyone on the planet you will earn them more than you cost them.

2023-03-10 18:24:58

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Nice fantasy.
If Saylor HODLd USD through your FUD until today, March 2023, he would be able to buy $1.3BN or 34.5% more BTC than he has. https://saylortracker.com
If Nayib HODLd USD through your FUD until today, March 2023, he would be able to buy $52.6% more BTC than he has. https://nayibtracker.com
And never forget: Bitcoin is fiat (by decree). That 21M could have been decreed at 42M without requiring any more physical components. The number doesn't even appear in the whitepaper, it's completely arbitrary and chosen by it's central planner, who they hid from you so you can pretend there isn't one.

2023-03-10 18:20:50

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How much freedom do you allow yourself to have wild, expensive experiences in the now? Don't forget to do that.
I worry about anyone who has taken the vow of poverty implicit in the Internet's largest prosperity cult. As they say in the superchurches, 'planting a seed today' for prophecies of future prosperity (and not in a business providing desired goods and services).
The present is all we are guaranteed. It's worth splashin' out a bit on. ;-)

2023-03-10 18:14:37

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I'm against Bitcoin because of the grand unified centralized ledger, selling itself as decentralized when it's really just distributed. Every resilient centralized database out there is hosted on dozens, hundreds or thousands of nodes. What makes a data layer 'centralized' is that each node tries to sync up to the same, single authoritative global state, like Twitter or Facebook or Bitcoin's CDN.
What makes a data layer 'decentralized' like Nostr is that there are dozens or hundreds of unique databases, with no conception of a single authoritative global state, and no requirement in the protocol to sync up to the same version.
In short, I think CBDC's are the bogeyman and BTC is their plan. You can't solve the Byzantine Generals problem without centralizing something, and Bitcoin centralized the most dangerous thing to economic freedom: The ledger.

2023-03-10 18:08:40

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I enjoy a life with expendable income. Global average life expectancy of 75 years is just 900 months. I'm here for a good time, not a long time.
The expectation of money to get more expensive over time takes lifestyle itself, pushes it over the railing and hangs it to death. Because prosperity oozes from the felt improvement in standard of living for both parties to a voluntary exchange (Mises). And if you expect your money to be worth more next month, you're disincentivized from hiring Johnny to mow your lawn, and more likely to do it yourself, incurring the opportunity cost that you wouldn't have if you didn't expect your "means of exchange" to also be a "fantastic investment opportunity".
Beware the pied piper who is always selling you the future, at the cost of the ever present. It's perhaps the 2nd oldest sales pitch.

2023-03-10 18:03:33

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Bitcoin maxis aren't breaking?
https://nayibtracker.com/ down 53.4% all time
https://saylortracker.com/ down 34.5% all time

2023-03-10 17:59:56

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There used to be a word for long covid long before covid. Hypochondria.

2023-03-10 17:57:15

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#[5] I'm very glad to hear about your productive endeavours and wish you'd post about those more than the net unproductive passive speculation habit. I'm sorry you put your money in the wrong place, but you're in good company, Isaac Newton lost $3M of his own money in the South Sea Bubble.
"Back in the spring of 1720, Sir Isaac Newton owned shares in the South Sea Company, the hottest stock in England. Sensing that the market was getting out of hand, the great physicist muttered that he ‘could calculate the motions of the heavenly bodies, but not the madness of the people.’ Newton dumped his South Sea shares, pocketing a 100% profit totaling £7,000. But just months later, swept up in the wild enthusiasm of the market, Newton jumped back in at a much higher price — and lost £20,000 (or more than $3 million in [2002-2003’s] money. For the rest of his life, he forbade anyone to speak the words ‘South Sea’ in his presence."