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McCoy
392316041be345b2bac5c4d1f44c7701385d62bfaac742d94273d10a6434eaac
Bitcoin NOSTR block 768722

bitcoin:tb1p4ttfac9lmvu6aqru8xppc2hr92phh0ny8rnkhq86x76ddrmla9hqdpaga7?amount=0.0001&lightning=lntbs100u1pj8z6wgsp5lpsuttgglzwpcr82jhz5qmt4k94pn0hyqm7zq0fh06kn7pugjytspp5az92j38cz453x0dt5q4jpjymjhkt24usv7snq4qeyaj8a00e5vnsdqqnp4qdn2hj8tfknpuvdg6tz9yrf3e27ltrx9y58c24jh89lnm43yjwfc5xqrpwjcqzzn9qyysgqqwah06ge3lukzuuvkfke7s27mm4qtn6r59hrzmg35x5atq0vrxukllde26j8gz7w2sdvp8tfggj0pmkng09z6y4s6nwuk24wxrdjwhgp0t68pt

Krugman and others normalizing the idea of “minting the coin”

Debt ceiling deadline looming…… some thoughts:

✅Boomers + “older”Boomers had massive gains in wealth since 1970’s. Mostly index funds and real estate. ✅Now they r attempting to drain the last bit of wealth from our failing fiat system via inflation adjusted entitlements

✅20-40yo “kids” will be increasingly focused on this unfair outcome and will attempt to find “political” solutions

✅it won’t work

✅what they should do is go all-in on the parallel antifragile system

✅#bitcoin - ignore at your own peril

Money is for everyone. This seems to be built into the Bitcoin protocol. If you are upset about the behavior of a given user/adopter just wait - the masses will be joining soon enough.

Bitcoin wins no matter what happens June 1….

CDS are adjudicated by “committee” WTF.

https://www.cdsdeterminationscommittees.org/

From NYT:

Fiat proof of stake 🤡 system

All physical money started as trinkets or tokens.

All non-physical money has always been ledgers.

Ledgers likely pre-dated physical money by hundreds of years.

Physical money was the new technology.

Bitcoin is both.

One trillion coin just mentioned in passing at the end of this NPR article…. WTF

If you are even slightly nervous about the fee/DOS “attack” issues over last weeks, spend 15 mins listening to this: youtu.be/3a6_7uKRV6s?t=… 🤡 …. last grasps of the shitcoin casino… they r even calling eth network a casino 💯 noise

#[0]​ can you please learn to use the lightning Network and send me any zaps that you don’t want?

Janet: Hi, I’m in charge of my family’s finances working on balancing my books… not looking good

Jerome: Yes, I remember you from last year. Can I help you now? I have access/control of a centralized ledger that might be able to “find” some money to lend you. What is your situation?

Janet: Well, I make $100,000 per year, but owe $4,800,000 and the interest on the debit is set to increase.

Jerome: Yikes. If I give you some cash to help you, what can you give me? Any collateral?

Janet: Not much in actually physical collateral, but how about a piece of paper that says: IOU $1,000,000 and will pay you back $1,040,000 in 2-5 years? Can we call it a “US-treasury bond/bill/note”?

Jerome: OK, but I am concerned that you’ll have a hard time paying me back down the road. What assurances can you give me? What’s your “note”backed by?

Janet: Hmmm… how about a “promise” that in the future I will be more mindful of what I spend and increase my productivity, ie work harder/smarter and get a raise?

Jerome: OK that works for me, but there is a rule that I have to keep a very small % of real money/assets in my vault compared to the amount I loan out and I’m at the limit. So, no-go on the money.

Janet: Hmmm. Actually I work with the team that makes the rules about “fractional reserve” requirements for you, so I can make a few calls and we should be good to go…..

…..two years later….

Janet: Hey Jerome… guess what? I’m in a bit of a situation ……

US finances in a nutshell:

✅total debt and liabilities of $219T ✅$4.6T of expected tax revenue

✅equivalent to a person with $100,000 salary and debt of $4.8 million

…..And get this, they're about to take out a new credit card = raise the dept ceiling

And people think that Bitcoin is the ponzi. Might want to have some just in case….

Just a feeling…… Sunday night pump incoming

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