Completed my second purchase using lightning. Bought three donuts at a small business coffee shop. The first purchase was produce from a local farmer. Each time I had to pause and ask if it was really worth spending these sats when I know these sats will be able to buy so much more in the future. That’s probably the most exciting part of using real money. Significantly less consumption but probably a lot more happiness.

With real money, life got cheaper every single year for 30 years during 1870-1900. We had real money and the industrial revolution was making its productivity gains. And everyone got to benefit. We’ve had two equivalent productivity revolutions with the PC and the internet in my lifetime. And life got more expensive every single year because fiat. So the productivity gains were taken away from the public and handed over to the shareholders of the winning companies.

I expect that to continue with AI, robotics and quantum computing. But those technologies will permanently eliminate essential labor. So life continues to get more expensive, but essential labor dries up. How does this all get resolved?

Save in bitcoin. At the moment that seems like the only way to survive what’s coming