What is Money?
an annoyance when buying P2P that i always run into, is the liquidity of a lightning balance to post Bond.
that's the reason I'm in the trade. I need btc!
just putting it out there...
https://www.zapplepay.com/autozap/npub1php4h2cn7zlngqc675vmfcthgmsmk9retyq7ez6fw56fyyj77nvqpmea7s
can the bitcoin company app also be used as PWA? if i log in through Auth47, will it remain logged in?
is he even a bitcoiner? thought he was wanting dollarisation?
CITADEL DISPATCH 113: nostr:npub1xnf02f60r9v0e5kty33a404dm79zr7z2eepyrk5gsq3m7pwvsz2sazlpr5 WITH EVAN KALOUDIS
"THE NODE IS IN YOUR PHONE"
https://www.podpage.com/citadeldispatch/cd113-zeus-with-evan-kaloudis/
its IN the phone
not sure if i've become pro bitcoiner or the UX is just too slick but Mutiny Wallet nostr:nprofile1qqswrlemlh2wgqc4jkds3d8ueqj9a2j3gcm7r48v9tskdd6rxsd7rtcpy3mhxue69uhkummnw3ezuun0w4hxgun0vd4ky6t5vdhkjmn9wfejucm0d5hszythwden5te0dehhxarj9emkjmn99uq32amnwvaz7tmjv4kxz7fwv3sk6atn9e5k7tcyvpd6q on-boarding process is pretty great!
simplicity is key
any tard-proof repos you could point me to for guidance?
nostr:nprofile1qqsr9cvzwc652r4m83d86ykplrnm9dg5gwdvzzn8ameanlvut35wy3gpz4mhxue69uhhyetvv9ujuerpd46hxtnfduhsz9nhwden5te0wfjkccte9ekk7um5wgh8qatz9uq3kamnwvaz7tmwdaehgu3wdaexzmn8v4cxjmrv9ejx2a30m276pr how did you create Dave the damus bot? is it easy enough to do?
i guess splicing means more fees bitches
muun wallet seems to have risen from the ashes in the form of phoenix
glad to say i am debt free
https://youtu.be/WoVEL_wybWY?si=RM6SxnddgRaCe-nZ
The Fiat Ruins Everything: Unraveling the Impact of Fiat Money -
Introduction
In this video, we delve into the fascinating insights shared by
Bitcoin developer and advocate, Jimmy Song, in his book titled "Fiat
Ruins Everything." Jimmy discusses the reasons behind his latest book,
its target audience, and the underlying motivation to help Bitcoiners
understand the detrimental effects of the fiat system.
An Audience Shift
Unlike his previous works aimed at bringing non-Bitcoiners into the
fold, "Fiat Ruins Everything" takes a different approach. It directly
addresses the Bitcoin community, providing them with a comprehensive
understanding of the deep-seated issues within the fiat monetary system.
The book serves as both a source of knowledge and a moral compass for
Bitcoiners, especially in turbulent market conditions.
Unpacking Fiat's Consequences
The book meticulously dissects the impact of the fiat system at various levels:
Individual: Exploring how the lack of a suitable savings vehicle leads individuals into debt cycles.
Corporate: Shedding light on how corporations have grown to unprecedented sizes by capitalizing on easy access to debt.
National: Highlighting how nations become
surveillance states and warfare-driven entities, while simultaneously
offering extensive social safety nets.
Global: Examining how the dominance of the U.S. dollar as the global reserve currency perpetuates economic imbalances.
A Technological Stagnation
One striking revelation in the book is the notion of a "competence
crisis." It explores the idea that fiat currency's centralizing
influence has led to a decline in competence across various industries.
For instance, the book compares the rapid development of the original
Boeing 747, which took just 18 months, with the modern-day 747 Max,
which required a decade of development.
This crisis is attributed to several factors:
Misallocation of Talent: Highly skilled individuals
are drawn to financial and non-productive sectors instead of industries
that foster technological innovation.
Incentive Misalignment: The profit-maximizing motive often leads individuals away from creating genuinely transformative technologies.
Regulatory Hurdles: Stringent regulations stifle innovation and discourage risk-taking.
The Nuclear Paradox
Jimmy Song further illustrates the competence crisis through the
stagnation of nuclear technology. Despite its tremendous potential,
nuclear advancements have remained elusive. Engineers who once worked on
groundbreaking nuclear projects have shifted their focus to more
lucrative career paths. This technological stagnation is evident in the
failure to develop nuclear-powered vehicles, despite their game-changing
potential.
A Shift in Priorities
The book "Fiat Ruins Everything" emphasizes the need for a collective
shift in priorities. To address the competence crisis and promote
genuine progress, there must be a reevaluation of societal values and a
redirection of talent towards innovation and problem-solving.
In conclusion, Jimmy Song's book offers a thought-provoking
perspective on the far-reaching consequences of the fiat system and the
urgent need for a rekindling of competence and innovation in society.
This article serves as a comprehensive overview of Jimmy Song's
book, "Fiat Ruins Everything," exploring its core themes and
implications for the Bitcoin community and the broader societal
landscape.
The Fiat System's Role in Industry Ossification -
Introduction
This article delves into the far-reaching consequences of the fiat
system on innovation and competition within various industries. It
explores how government intervention, regulatory privileges, and the
lure of easy money have led to an unsettling phenomenon – industry
ossification.
The Incentive Misalignment
One key issue discussed is the misalignment of incentives within the
economy. While some argue that individuals are rational in pursuing
sectors where financial gains are more readily attainable, this
rationale is challenged by the inherent flaws in the fiat system:
Misallocation of Talent: Highly skilled
professionals are increasingly drawn to sectors that promise quick
financial rewards rather than those with innovative potential.
Regulatory Barriers: Government and regulatory privileges favor certain industries, discouraging competition in more critical sectors.
Fiat Money and the Race for Yield
A vital aspect of the problem is the Fiat Casino's low-interest-rate
environment, which drives investors towards higher risk, higher yield
investments. This includes Venture Capital (VC) funding, which, in
recent years, has attracted substantial interest. However, this surge in
VC investments may not necessarily translate into genuine innovation.
Chasing Quick Returns: VC investments are often more concerned with rapid returns than fostering long-term innovation.
Retail Mindshare vs. Real Innovation: The
popularity of projects like NFTs and web 3 startups among retail
investors does not necessarily indicate genuine technological
advancements.
Government-Backed Privileges
The government's role in industry ossification is significant,
particularly in the energy sector. By favoring specific energy sources
through regulatory and financial incentives, governments stifle progress
in more reliable energy solutions, such as coal, natural gas, and
nuclear power.
Energy Privileges: Government-backed preferences
for wind and solar energy disrupt the energy market, leading to
suboptimal choices for the environment.
Investment Concerns: Investors in traditional energy sources fear future regulatory crackdowns, hindering innovation in these critical sectors.
The Centralizing Force of Fiat Money
The fiat system's centralizing force accelerates the emergence of a
few dominant players in every industry. These companies utilize their
advantages to solidify their positions, further undermining competition.
Lobbying Power: Large corporations can afford extensive lobbying efforts to shape regulations in their favor.
Acquisition Strategy: The ability to acquire smaller competitors allows giants to dominate their respective sectors.
Collusion and Regulatory Hurdles: A small number of
major players in each industry can collude and use the regulatory state
to create barriers against potential competition.
Conclusion
The ossification of industries is a direct consequence of the
incentives and privileges facilitated by the fiat system. While rational
economic actors may be attracted to quick financial gains, it's crucial
to recognize that this environment is not truly reflective of a free
market. Rebalancing incentives, reducing government intervention, and
promoting innovation in critical sectors are necessary steps to
counteract this concerning trend.
This article explores the impact of the fiat system on industry
ossification, highlighting the misaligned incentives, the role of
government privileges, and the centralizing force of fiat money in
shaping today's business landscape.
The Wisdom of Zero Debt: A Bitcoiner's Perspective -
Introduction
This article delves into the concept of maintaining zero debt and its
significance in the context of the modern economic landscape. The
speaker argues that having zero debt is crucial in a world rife with
financial uncertainties and economic ossification.
The Illusion of Keeping up with the Joneses
One common argument for accumulating debt is the desire to "keep up
with the Joneses." Many individuals succumb to societal pressures and
try to match the lifestyles of those around them. However, this approach
is critiqued for several reasons:
High Time Preference: Trying to match others' lifestyles reflects a high time preference, which can lead to financial troubles.
Bankruptcy Risk: Maintaining this mentality can
result in excessive spending and, in turn, bankruptcy, especially if
expenditures consistently outpace earnings.
The Practical Argument: Leverage and Risk
One of the practical reasons to steer clear of debt revolves around
the concept of leverage and financial risk. The speaker asserts that
taking on debt implies being leveraged, which magnifies sensitivity to
economic fluctuations and risks.
Sensitivity to Price Changes: Debt amplifies the
sensitivity to price changes, which can be a double-edged sword. This is
true whether it's a mortgage or an investment trade.
Risk of Financial Ruin: Excessive leverage can lead to financial ruin, especially if market conditions deteriorate.
The Moral Argument: The Dilution Effect
A compelling moral argument against debt centers around the dilution
effect. The speaker contends that each time new money is created through
loans, it dilutes the wealth of those holding the currency. This has
far-reaching consequences:
Diluting Everyone's Wealth: Taking out loans contributes to diluting the wealth of everyone who uses the same currency, both locally and globally.
Impact on Developing Nations: Countries with
hyperinflation often experience the most significant dilution, affecting
the purchasing power of individuals in those nations.
The Sound Money Economy
In a sound money economy, which Bitcoin proponents champion, the
focus is on financial responsibility, sustainability, and long-term
wealth preservation. Those who take on debt for impulsive, non-essential
spending find themselves at odds with sound financial principles.
Thinking Beyond Instant Gratification: Sound money proponents prioritize long-term financial well-being over short-term gratification.
Escape from the Debt Cycle: Zero debt can liberate individuals from the cycle of perpetual borrowing and interest payments.
Conclusion
In the world of Bitcoin and sound money advocacy, the wisdom of
maintaining zero debt is undeniable. It offers financial security,
protects against bankruptcy, and aligns with the principles of fiscal
responsibility. The allure of keeping up with others' extravagant
lifestyles is overshadowed by the benefits of a debt-free existence,
reinforcing the idea that zero debt is an ideal to aspire to.
This article explores the merits of maintaining zero debt in a
world marked by financial risks, the dilution of wealth, and the need
for sound financial principles. It highlights the practical and moral
reasons behind embracing a debt-free lifestyle, emphasizing the
advantages in a sound money economy.
Navigating Financial Waters: The Wisdom of Managing Debt
Introduction
In today's financial landscape, the decisions regarding debt have
far-reaching consequences. This article explores the complexities
surrounding debt management, providing insights into topics such as the
risks of borrowing, the issue of student debt, and homeownership in an
ever-changing world.
Risks of Borrowing: The Pitfalls of Living Beyond Your Means
High Earners Living Beyond Their Means
High-earning professionals, including doctors and lawyers, sometimes
find themselves living beyond their means despite their substantial
incomes. This common scenario highlights the perils of financial
imprudence.
High Time Preference: Living lavishly rather than saving reflects a high time preference, which can jeopardize long-term financial stability.
Bankruptcy Risk: Overspending can lead to bankruptcy, impacting even high-earning individuals.
Student Debt: A Perilous Financial Entanglement
The Weight of Unbankruptable Debt
Student debt presents a unique challenge as it is not dischargeable
in bankruptcy. The creation of money for education adds to the money
supply, but this form of debt is particularly burdensome.
Monetary Enslavement: High levels of student debt can result in a form of monetary enslavement, limiting individuals' freedom and choices.
Affecting Political Choices: The burden of student
debt influences political decisions, as people advocate for debt relief,
potentially perpetuating monetary problems.
Homeownership Dilemma: Mortgages and The Store of Value Premium
The Real Estate Conundrum
Owning a house for one's family is a dream for many but comes with
its own set of challenges. Mortgages, in particular, raise questions
about financial prudence.
High Housing Costs: The surge in real estate prices often results from the perception of real estate as a store of value, making it expensive.
Risk and Subsidies: Mortgages are exposed to real estate market volatility, government subsidies, and artificially low interest rates.
What to Do in the Current Fiat System?
Embracing Alternative Lifestyles and Entrepreneurship
For those living in the current fiat-based financial system, practical steps can be taken to navigate these challenges.
Rent Smartly: If you cannot afford a mortgage
outright, consider renting a more affordable place or exploring housing
options in different cities.
Embrace Entrepreneurship: Becoming an entrepreneur
in any capacity, even in small, value-driven businesses, can provide
financial stability and an alternative to high-stress corporate jobs.
Expand Horizons: Explore cities worldwide and consider different lifestyles that prioritize personal happiness over conventional paths.
Conclusion
Managing debt is a crucial aspect of maintaining financial health.
With risks associated with living beyond means, student debt, and
homeownership in a changing world, individuals must make informed
choices to secure their financial future. By adopting a prudent approach
to borrowing and embracing alternative lifestyles, individuals can
navigate the complexities of today's financial landscape more
effectively.
In an ever-changing financial world, understanding the
intricacies of debt management is paramount. This article provides
insights into the challenges of living beyond one's means, the perils of
student debt, and the dilemmas of homeownership. Practical suggestions
for navigating the current fiat system are also explored, highlighting
the importance of informed financial decisions.
Navigating the Fiat System: Unraveling the Complexities of Debt Management -
Introduction
In the realm of finance and economics, the management of debt plays a
pivotal role in shaping one's financial well-being. This article delves
into the multifaceted issues related to debt, examining risks,
leveraging strategies, and cultural influences in the fiat currency
system.
Risky Proposition: Leveraging Debt for Real Estate
Feeding the Fiat System
Borrowing substantial amounts to acquire properties in expensive
locations can be tempting, but it comes with a plethora of risks.
Excessive Risk: Investing in expensive properties can expose you to significant financial risk.
Dependency on the Fiat System: High property costs contribute to the fiat system, potentially accelerating its longevity.
Playing the Leverage Casino: Betting on Fiat's Downfall
The Pitfalls of Shorting Fiat with Debt
Some individuals leverage their debt to bet on the devaluation of
fiat currency, believing Bitcoin will outperform it. This strategy,
however, comes with its own set of dangers.
Leverage Long on Bitcoin: Leverage long on Bitcoin can lead to significant losses if market conditions suddenly shift.
Existential Risk: Taking on significant loans to
invest in cryptocurrencies poses a substantial existential risk if
Bitcoin's value drops unexpectedly.
Rectifying Financial Mistakes: Getting Out of Debt
The Path to Recovery
For those already entangled in debt, rectifying the situation demands
financial discipline, frugal living, and a focus on savings.
Character Development: Bringing consumption forward through loans is seen as a character flaw, emphasizing the importance of delayed gratification.
Programs and Education: Numerous programs, like
those offered by financial educators such as Dave Ramsey, can help
individuals eliminate debt and shift their mindset toward savings.
Saving in Bitcoin: Transitioning from conventional savings to saving in Bitcoin can provide long-term financial stability and security.
Cultural Impacts of Fiat Currency
The Shift in Societal Bonds
The ability to borrow and bring consumption forward has transformed societal bonds and behaviors.
Reduced Interdependence: The availability of loans from faceless entities diminishes traditional interdependence within communities.
Cultural Shift: The borrowing culture has influenced various aspects of society, including dating, marriage, and family dynamics.
Conclusion
Managing debt within the fiat currency system requires careful
consideration of the associated risks, including high leverage and
unexpected market shifts. Furthermore, understanding the cultural
impacts of fiat currency on societal bonds is crucial for making
informed financial decisions. Embracing the path to financial recovery
through discipline and transitioning to Bitcoin-based savings can lead
to a more secure and responsible financial future.
In the complex world of finance and economics, the intricacies of
debt management cannot be underestimated. This article explores the
risks of leveraging debt, the pitfalls of shorting fiat with loans, and
the path to recovery for those already in debt. It also emphasizes the
cultural impacts of fiat currency on societal bonds and the importance
of making prudent financial choices. As we navigate the fiat system,
understanding these intricacies is key to a secure financial future.
The Impact of Debt, Fiat Currency, and Societal Transformation
Debt and Monetary Enslavement
The burden of debt is a pervasive issue in the modern financial
landscape, often leading to what can be termed "monetary enslavement."
People constantly juggle debt payments, living under the ever-looming
threat of losing their assets.
Monetary Enslavement: The pressure to repay debts leads to a state of financial enslavement, diverting focus from innovation and entrepreneurship.
Immediate Consumption: Excessive debt creates a culture of immediate consumption, eroding financial discipline and familial relationships.
Changing Dynamics: Traditional vs. Modern Lending
The Role of Family Bonds
In the past, seeking loans for major life events like homeownership
involved turning to family members. This process strengthened familial
bonds and encouraged gratitude. The family unit was integral to ensuring
loan repayment, reinforcing the sense of belonging.
Stronger Family Bonds: Relying on family for loans fostered stronger connections and the importance of mutual support.
Dependence on Fiat Money: The shift to depending on banks and government for loans has weakened familial connections.
The Devaluation of Social Bonds
The Impact of Fiat Money
The introduction of fiat currency has significantly altered human
relationships and societal structures, including family, community, and
religious ties. The state encourages dependence on its systems over
traditional social and familial bonds.
Dependence on the State: Fiat currency encourages people to rely on state-controlled systems, diminishing community and family dependence.
Family as Assets: In sound money economies, family members serve as valuable assets, forming an interconnected network of trust.
The Dystopian Future of Fiat Morality
A Glimpse into Predictions
Various ominous predictions, once considered extreme, are gradually
becoming reality. The state's ever-expanding control and the dilution of
personal freedoms are concerning trends, such as the state's
involvement in child-rearing decisions and the stifling of dissenting
opinions.
Hiding Money Printing: Governments conceal the
effects of money printing by blaming corporate greed and taking
advantage of public economic ignorance.
Societal Transformation: The state's desire for control has led to family bonds being viewed as an obstacle to the dependency the state desires.
Where to Find "Fiat Ruins Everything"
To delve deeper into the issues surrounding debt, fiat currency, and
societal transformation, you can find Jimmy Song's book, "Fiat Ruins
Everything," in various formats:
Amazon: Available in the United States, Australia, and other English-speaking regions.
Bitcoin Magazine: Purchase with Bitcoin at bitcoinmagazine.com.
Signed Copies: Order signed copies from Jimmy Song's website, Fiat Ruins Everything.
Upcoming Releases: Keep an eye out for the upcoming audiobook and ebook versions.
Conclusion
Debt and fiat currency have far-reaching implications that extend
beyond financial matters. They are catalysts for societal change,
altering the fabric of family bonds, community relationships, and
individual freedoms. As these transformations unfold, understanding the
underlying dynamics becomes increasingly important in navigating the
complexities of the modern world.
i think my nostr wallet is broken? nostr:nprofile1qqsr9cvzwc652r4m83d86ykplrnm9dg5gwdvzzn8ameanlvut35wy3gpz4mhxue69uhhyetvv9ujuerpd46hxtnfduhsz9nhwden5te0wfjkccte9ekk7um5wgh8qatz9uq3kamnwvaz7tmwdaehgu3wdaexzmn8v4cxjmrv9ejx2a30m276pr
i have the exact same amount of zaps, but the price has gone up?
can anybody loan me 10k sats so i can post bond to robosats for a trade?
need that kyc free
#asknostr
will pay back once trade settled:
lnbc450u1pjntlw5pp53nm5gu2crpluqehdjdr6r97mrmnkvdw2s6yzpm62dzxfkafdmcyqdq5g9kxy7fqd9h8vmmfvdjscqzzsxqyz5vqsp50a98jpr3vt4dwhvmzppr5yrmekc43s8wa9dx6ehs9nsadytznafq9qyyssqprwq8558juk36jq4vx2d4c8mfjmhrttfh86yc807hzr8ay3yzrf9lqeytfmr96hj8vvtmkdlkddquudmzljfg0c2ev4s5yuad6gswucpdmrg2e
need 45000 sats on lightning for a p2p trade bounty, can anyone help a pleb out?
#asknostr #nokyc
whats the best traveller/nomad bitcoin node setup?