Measure twice cut once.
The Fed bought trillions worth of mortgages with money printed out of thin air.
The Fed and BlackRock probably have recourse to millions of homes.
Instead of bailing out the lenders, maybe the home-dwellers need a Jubilee.
One last Jubilee, and then we move forward with #Bitcoin.
If you’re selling your #Bitcoin for Fiat money on a CEx (or anywhere for that matter) you could be selling to a hostile actor…
Not a lot of downside in doing your due diligence on your customers or counterparty when trading your BTC… you definitely don’t want that BTC ending up in the wrong hands IMO.
“Byzantine emperors made their economy resilient for many centuries by land reform protecting subsistence smallholders against creditors, and cancelling back taxes, the major category of personal debt.”
Seems like authoritarian rulers should have a better handle on socio-economic pressure points.
The rules of #Bitcoin have a very good handle on socio-economic pressure points… that’s what the difficulty adjustment and tx fees are for.
#Bitcoin is bringing us full circle with our ancient past, but also about to sling shot humanity into a new direction that we never thought possible through the most elegant alignment of incentives humanity has ever seen.
The purpose of debt jubilees and difficulty adjustments is to maintain equilibrium.
#Bitcoin stands on the shoulders of Ancient Wisdom.
The Bible is an ancient economics manual disguised as a morality and ethics manual.
And now for today’s Blasphemy…
The #Bitcoin White Paper should be added to the Bible if we want to keep it up to date.
In ancient Mesopotamia, it was the Temples who authorized weights and measures and cost accounting.
Money may have originated from “religion”… of course the temptation to abuse this authority was too strong.
In modern times, Bitcoin authorizes weights and measures and cost accounting, with authority decentralized across the entire system to maintain order, stability plus checks and balances.
It’s really hard to play the game of life if everyone is playing by different rules.
Enter Bitcoin.
Elon would do well to study the history of money and religion from the time of the ancients to today… much wisdom can be gleaned from studying ancient Hebrew and Sumerian practices around money and debt.
Bitcoin is so obviously the answer that the only explanation for Elon’s ignorance is his Ego
So many Bitcoin “Maxis” out there who still obsess over the Dollar price of Bitcoin.
We need to balance our focus. Yes the Dollar price matters because we live under the rule of Fiat overlords… survival and passing our traditions to the next generation are important… if Bitcoin must be traded for Dollars to survive, I don’t think anyone is asking you to become a Martyr or sacrifice your life… we need to balance our desire for life, liberty, and the pursuit of happiness
But the philosophy of Bitcoin matters. The structure of our knowledge culture around Bitcoin matters. Understanding our history and traditions matter.
Decoupling your mind from Fiat is an intentional mental exercise. It’s not easy to do. We’ve all been conditioned by this Fiat world.
In the end, the Dollar price is not what we came here for. To obsess over it is to miss the point of Bitcoin completely.
The Bitcoin influencers still focus too much time on the Fiat price of Bitcoin.
Ask yourself: why are you pricing the most valuable monetary commodity in history in terms of the most fraudulent monetary fool’s gold in history?
Why are you valuing sacred money in terms of a corrupt and broken Fiat system.
It’s like valuing Beowulf in terms of Grendel and Grendel’s Mom.
Don’t measure your heroes against monsters.
The spirit of the jubilee & forgiveness wasn’t just for debts in the ancient days.
Taxes, fees, & royal tribute were also forgiven.
Ancient rulers were wise to adjust the difficulty for their people.
Bitcoin is wise to adjust the difficulty for its people too.
Here’s a risk of Selling/Spending your Sats… you can’t be sure the person you’re selling them to will hold them. Definitely don’t sell your BTC back to a CEx, where the Govt can seize it super easily.
Central Banks and Govts could try to accumulate Bitcoin covertly.
Do your best to only trade your Sats with other Bitcoiners, which is easier said than done, but something to think about.
I ain’t got no quarrel with them Vietcong.
My quarrel is with the Grendels of Fiat World.
Secure your Bitcoin and stand fast in the face of the Fiat haters.
It’ll be cool when we can do Polls on Nostr… anyone know if that’s coming soon?
As we enter the “then they fight you stage”, seek inspiration from the warrior poets of the past like Beowulf who stood up to trolls and dragons and fought back.
Grendel, descended from Cain, was pained by the sounds of joy of the people of Geatland in their new grand mead hall, Heorot.
The Fiat maximalists are also pained by the sounds of joy coming from the Plebs in our grand new hall, the Bitcoin protocol.
The Fiat Maxis will attack us like Grendel attacked the people of Geatland.
Find your inner Beowulf and stand tall.
Defend Bitcoin with courage and honor.
I for one hope we can at least agree on a very long moratorium on any more blocksize increases… the only thing that should be on the table is a blocksize decrease as far as I can tell
Ancient humans understood that Jubilees were necessary for socio-economic stability and to prevent an accumulation of wealth and property in the hands of the few.
Modern humans will understand that Bitcoin serves a similar function, except even better by discouraging the debt in the first place.