You should listen to your own body rather than an electric device.
When Satoshi solved the problem of digital money that "requires no 3rd party", he was talking about getting rid of the CENTRAL BANKS that keep a ledger to avoid double spending, not retail banking and self custody.
A central bank which prevents digital double spending and allows payments across space without the need of a physical p2p item is a problem, not because it holds our wealth like a retail bank does, but because we have to TRUST it as it has power over the entire money supply and can create it out of thin air.
What would people with the ability to print money have?
UNLIMITED POWER
Power to pillage all the resources of the world, corrupt/own politicians, control the education system (many schools follow the UN curriculum now), own the media, the universities, the publishers, the science, and control what you think.
They own economics schools, and make you brainwashed into believing that their theft of 2% inflation is GOOD FOR YOU!!
THAT is what unlimited power allows
That is what the cypherpunks were fighting against. And they finished the job with the culmination of Bitcoin finally - the last iteration of money they were trying to create. The one that finally worked was the one that could not be stopped
Self custody and 3rd parties have nothing to do with the desire for "electronic cash with no 3rd party"
For S's sake, don't be a BCasher, and study this, so you don't fall for their tricks when they misrepresent what Satoshi meant.
B Cashers, GFY.
A fascinating documentary about the history of the Cypherpunks. Mandatory watching for all Bitcoiners...
https://youtube.com/playlist?list=PLBuns9Evn1w-T2RwqMhUnTZbTTe-M-g42
And, also mandatory, how the B Cashers lost and why...
https://www.amazon.com/Blocksize-War-controls-Bitcoins-protocol/dp/B08YQMC2WM
Retail banking is not the problem humanity is facing. Retail banking like many other industries is broken, as a symptom of currupted money. The fractional reserve they are PERMITTED to partake in is also not the main problem ... It's that when they fail, they have no consequences because they get bought out / bailed out, with printed (stolen) money.
Custodian in a bitcoin world, EVEN if there is some Fr reserve shenaniganary, will not break the money, because some artificial inflation is still anchored to the true supply of bitcoin. Some people will get hurt, and that's life. They will learn to spread their savings across 3rd party banks that have proof of reserves, or some other mechanism will exist.
The point is some massaging of the supply is not the same evil to humanity as unlimited risk free fractional reserve, backed up by counterfeiting.
Every time someone provides a service, and gives an invoice, "payable in 90 days" for example (common), you could argue that's also a form of money creation through debt.
Both parties simultaneously think they have the money as part of their wealth, which affects theor spending habits.
And that affects prices just like how a little bit of fractional reserve can.
Sometimes the invoice isn't paid. Sometimes banks fail. Doesn't mean humanity has a problem such that we need to meddle with the properties of Bitcoin with some "nice to have" fork like, oh, I don't know, OP_CHECKTEMPLATEVERIFY (CTV)!!
I prefer we activate OP_GFY 🖕🖕
A self custody mentor, saying self custody is not the primary goal of Bitcoin... Am I crazy, or just an honest motherfucker?
I have the same thought.
In a truly free market, price will be an emergent consensus. That's why price without distortion is critical to a functioning and prosperous economy.
I think of high time preference.
Source pls?
Raid is not backup. It is for availability.
For backup, we have the 3-2-1 rule.
-What guides? BTCSession Youtube
-Where to buy? Big local exchanges
-How to store it? Trezor 3 at the start and move to more complicated devices.
Unless someone is setting out to be a professional author (very hard), nobody should write a book to make money.
When I set out to write Broken Money, it was because I *had* to, not because I wanted to. Spending a thousand hours on something that I get a profit of $5/copy for is not my best use of time.
Any time I spent on my research business revenue generation content, or leaning harder into my venture capital partnerships, would have been better on an hourly ROI basis. I have to sell 40 books to equal each newsletter subscription on my website; clearly the latter is better financially.
Almost regardless of how many copies I sell, it's a bad ROI for me. I'm overworked and the fact that I wrote a book while maintaining my existing business stressed my relationship and social life. And further, I am reinvesting most of my initial profits; the first 1,000 copy profits go to the Human Rights Foundation Bitcoin Development Fund, and the next 4,000 copy profits will go towards making a video about money and why it's broken.
And all of it was worth it. When a creator has something in their head, it's painful until they get it out into the world. I wrote this for bad ROI but because I wanted it to be out there for people to read, period.
Will I make a profit? Yes. But at a much lower hourly rate than I make on other work I do. It's a negative profit compared to having reinvested that thousand hours into my other existing work. But I consider it to be more important, which is why I spent the time.
I wrote Broken Money because I had to. The book concept formed in my head after many years of writing and research regarding money, and it would have been increasingly distracting to *not* write it. I didn't realistically have a choice. I felt compelled to write it. Part of it was altruistic; I wanted people to learn from my total monetary framework thoughts over five years of research. Part of it was egotistical; I wanted to timestamp something in the world, in physical form, and put it out there. Maybe it's the low time preference part of me; I'd like something of me to be mentionable to people in the distant future who look back at this time.
My background has been a blend of engineering and finance, with both ironically pointed toward bitcoin.
I don't care where you buy it from, and you can pirate it if you want, but it benefits bitcoin and nostr:npub1gdu7w6l6w65qhrdeaf6eyywepwe7v7ezqtugsrxy7hl7ypjsvxksd76nak if you buy it from his website. Circular economy rather than big fiat business. We've introduced a special edition hardcover with a cloth cover and dust jacket for those that prefer that premium format, only on his website. And you can buy it in fiat or sats.
https://academy.saifedean.com/product/broken-money-hardcover/
Thank you!