The fiancialization of #Bitcoin by Wall Street has always been inevitable.

I'm not even very bright, but I've been talking about this happening for many years.

So this week will simply mark another milestone in the growth and development of the #Bitcoin monetary and financial network.

What's more interesting (to me) is what will happen over the ensuing years and decades.

As a completely separate monetary and financial network from the US dollar-led fiat/credit based network, I think that #Bitcoin will eventually grow too unwieldy and powerful to be contained by Wall Street, as well as by most corporations and fiat-based governments.

Eventually, possibly as soon as the 2030s, #Bitcoin will actually overpower fiat/credit-based entities, break free from their attempts at control and coercion, sever all remaining ties, and separate government from the production and control of money.

Truly, it will be a brave new world.

And, dare I say, it will be a much better world for the vast majority of humanity.

It's not a speculation, an investment, or a portfolio hedge...

#Bitcoin is better money for a better world.

Why is the market seemingly suddenly so obsessed with unemployment?

Look at this chart to see how, once unemployment begins to tick higher, the momentum that carries the economy into recession is virtually impossible to stop.

Apparently I did 37 appearances on WBD over the past four years.

That’s like one every month or two on average.

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I think some people are just pessimists at their core. Bitcoin is for optimistic truth seekers. If you think the world is going to hell and a hand basket and there’s no way a solution could ever solve that…well then it’ll be impossible to SEE bitcoin.

I think some people are just pessimists at their core. Bitcoin is for optimistic truth seekers. If you think the world is going to hell and a hand basket and there’s no way a solution could ever solve that…well then it’ll be impossible to SEE bitcoin.

When I see a intellectual people NOT understand Bitcoin, what is often preventing them from “getting it”, is a deeply held, core belief that the world is spiraling out of control and can’t get better. Because of this pessimistic conviction, it’s almost like it’s impossible for them to wrap their head around it. It’s a very strange yet persistent theme.

Since the finance sector of the economy (investing, lending, payment processing, etc) just enables other things we more directly care about, the more efficient it is the smaller share of economic activity it should be.

Ideally the financial sector should be a half or a quarter of its current share of GDP. It should slip into the background.

The financialization of everything is largely attributable to bad money and bad structural incentives.

The normal shot procedure is different than the one you get when you are directly exposed to a rusty puncture wound.

My friend stepped on a nail today, so we went to the hospital to get him a tetanus shot, and we’re in a part of outer Cairo at the time.

I usually think of things in “1990s movie” terms, so if you picture it, this hospital was basically where Antonio Banderas would go after he got shot in Desperado.

Like we wandered up to the hospital in the desert, it looks barely occupied, various street dogs barking outside, and it’s unclear where the main entrance is since it kind of looks like a loading dock on all sides to begin with. There was a blind guy sitting at a desk under an umbrella out front so we asked him if that’s the right way, he said “aye”, so we wandered into some dark hallway that eventually emerged into the hospital proper.

No air conditioning despite being 111 degrees outside, everyone is sweaty, the doors are all open for decent ventilation, and the manager has stacks of papers cartoonishly piled up to the ceiling in his office.

A nurse comes out, looks at the wound, says he sees this all the time, gives him the tetanus shot, and says to come back in a month for a second shot. Friend plops a small wad of cash down on the counter. We’re out in five minutes.

Don't talk about your diet or exercise routine, show me your body.

There is yet to be a silver bullet scaling solution for cryptocurrency. Instead, what we have for now, and possibly for a long long time, are many solutions each with distinct tradeoffs that will match different user needs.

The secret sauce to making this all work is LN.

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I have watched a surprisingly small number of movies over the past few years, mainly because I have been so busy and also because not that many new movies have appealed to me.

On a set of recent flights I watched a bunch of movies in a row:

1) Hunger Games: The Ballad of Songbirds and Snakes. It’s the prequel to the series and stars the character who later becomes a main villain in the series, so that is neat. Not bad actually. I found it pretty engaging even though the original Hunger Games series lost my interest somewhere around the second movie.

2) The Creator. Sci Fi military/drama/action movie about AI. It had a decent plot structure and theme, but overall was pretty “meh” and had some distracting plot holes.

3) Ferrari. A biopic about Enzo Ferrari during some of the harder years of his life. Great acting from Driver and Cruz. Somewhat underwhelming overall story, but solid film imo.

4) Wish. The first critically-panned Disney animated film in a long time. I was curious to see what was so bad about it. Imo the problem was not that it was truly bad per se but that it was aggressively mediocre. Songs felt kind of forced or out of place. The plot structure itself was pretty creative. There was hype from some conservatives around this movie being “woke” but I didn’t see that as being the case. It’s ironically about a bunch of people fighting for personal liberty and a smaller role for government, lol.

The way things are shaping up, I think the story arc for this next cycle or two will be:

-A lot of altcoin VC money flows back into the Bitcoin ecosystem, builds a bunch of bubbles in startups based on too-early tech and broad speculation, and gets washed out when that tech takes longer than expected to mature. Additionally, a lot of the capital will get pulled toward speculation/trading of tokens on top of Bitcoin and blow up from that direction as well.

-Then after it washes out, there will indeed be some good mature utility-focused tech that emerges out of it that makes Bitcoin's layered stack better and more user-friendly. Bitcoin, both as sound money and to some extent as an immutable truth layer, emerges stronger.

My house's sewer bill can only be paid with physical check. They used to have some clunky online payment option too, but this year they removed it.

Feels like 1950.

Just planted this Bonzi.

Guess the tree type…

Took me a solid two days uninterrupted to read it (me so slooow). It is excellent! Once I hit the chapters on Privacy and Encryption I was like.,. dude, she did it, she made the greatest and best book in the world (this is just a tribute). #Tenaciou sD reference for you there.

Finally got a 1-star book review by someone who hates bitcoin and tether (and didn’t read the book).

Pretty sure I know that guy on Twitter. One of those obsessed reply guys.

I’ve been studying the Cairo real estate market both because I’m a buyer and because it’s useful inflation research to witness the process of how quickly/slowly and evenly/unevenly prices adjust to an FX devaluation.

Some real estate in bubbly areas jumps in local nominal price quickly; other areas barely move in price. Egypt doesn’t have a ton of foreign real estate buyers (compared to say, Chinese nationals buying Thai property) so prices tend to be low. There is however a lot of construction supply growth.

Was looking at a new villa today which is four stories and six bedrooms, in order to house a multigenerational family (nine total people). Made of brick and cement at its core and with beautiful finishing. Has an elevator, which is important for the seniors of the family that have trouble with stairs. Nice view, yard, community.

It’s comparable in price to a random house half its size in US suburbia that is made of cheap wood and drywall that will last a third as long. So the price per square foot compared to that is half, and even less if quality-adjusted. Of course, with a much riskier legal and financial jurisdiction.

But then it can be paid for over seven years without interest (you just forgo the cash-up-front discount which is not all that big), in the local currency that doubles in supply every four years (20% annualized broad money growth), so you are basically shorting the currency.