“In All Along the Watchtower, by Bob Dylan, the joker and the thief ride against the establishment.
This time, they’re not alone.”
Read & share my latest piece on why Bitcoin is a Trojan Horse for Peace! ☮️🌏🌎🌍🙏
https://medium.com/@penglunds/satoshis-gift-to-the-world-a-trojan-horse-for-peace-199402d548d8
#bitcoin #btc #soundmoney #fiat #satoshi #immaculateconception #art #nostr #growstr #grownostr #inflation #freespeech
I’ve now watched the episode again. Seems the main difference between the two is that Saylor doesn’t agree nominal rates will ever fall below zero–which is a good point. Don’t see how it can, as no one would introduce risk without the possibility for higher returns.
nostr:npub1gdu7w6l6w65qhrdeaf6eyywepwe7v7ezqtugsrxy7hl7ypjsvxksd76nak
Just watched the pod with Michael. As far as I’m concerned, you are on the same page about borrowing, but Michael doesn’t seem to get your point.
If I’m not mistaken, you’re just pointing out that it’s realistic that nominal interest rates will go to 0% under BTC, but that doesn't mean the real interest rate will be zero. Because BTC is deflationary, the real interest rate under 0% nominal rate will be whatever the deflation rate is. So let's say it's 3%, that means the borrowers will earn 3% a year by borrowing their money for 0% nominal interest rate.
Wasn’t that the point you were trying to make?
Finally, an interesting Bitcoin podcast!
It’s been a while since I’ve seen people argue in Bitcoin but nostr:npub1gdu7w6l6w65qhrdeaf6eyywepwe7v7ezqtugsrxy7hl7ypjsvxksd76nak managed to pull Saylor into an interesting conversation about credit and lending in Bitcoin.
Saylor apparently hasn’t fully thought through the implications of 21M and remains wedded to his fiat ideas.
He expects there to be yield on Bitcoin in future, but never says where it will come from in a completely fixed supply money.. “They’ll have to sell their assets to finance themselves!” - yeah no shit Michael!
The only way to generate yield in Bitcoin terms is to mismatch duration - literally run a Ponzi scheme. But Saylor expects that because the US Government will back the banks that this can’t go wrong 🤣🤣
Saif takes nostr:npub1sfhflz2msx45rfzjyf5tyj0x35pv4qtq3hh4v2jf8nhrtl79cavsl2ymqt line that capital will flow but HODLers will take equity rather than yield. This is the correct logical conclusion.
I’m not saying Saylor is completely wrong - I do see a future where banks will get into this space and lend and pay yield on Bitcoin.
But they WILL blow up. I don’t give a fuck if they’ve got their own nuclear arsenal let alone the full faith and credit of the US Government behind them, they WILL get out over their skis and they WILL be unable to fulfill their obligations at some point because they WILL greedily try to rehypothecate it in the meantime and no Government will be able to save them.
Saif and Allen both know the economy doesn’t require interest to function, that the world won’t grind to a halt without it - people will still spend money. Saylor just isn’t ready to let go of his statism (as evidenced earlier in the conversation) because he’s become accustomed to Billionaire privileges.
This is why I love #Bitcoin. You can be the CEO of the most successful public company of the past 4 years, all thanks to Bitcoin, and you will still be totally humbled by it unless you fully embrace the system as it is because it won’t be changing for your fiat games!
Just watches the episode. I'm not sure what Michael doesn't understand about Saifdean's point. As far as I’m concerned, I think they're on the same page. Saifdean is just saying it's realistic that nominal interest rates will go to 0%, but that doesn't mean the real interest rate will be zero. Because Btc is deflationary, the real interest rate under 0% nominal rate will be whatever the deflation is. So let's say it's 3%, that means the borrower will earn 3% a year by borrowing their money for 0% nominal interest rate.
Can someone help me understand why Michael gets so irritated about this point?
Finally, an interesting Bitcoin podcast!
It’s been a while since I’ve seen people argue in Bitcoin but nostr:npub1gdu7w6l6w65qhrdeaf6eyywepwe7v7ezqtugsrxy7hl7ypjsvxksd76nak managed to pull Saylor into an interesting conversation about credit and lending in Bitcoin.
Saylor apparently hasn’t fully thought through the implications of 21M and remains wedded to his fiat ideas.
He expects there to be yield on Bitcoin in future, but never says where it will come from in a completely fixed supply money.. “They’ll have to sell their assets to finance themselves!” - yeah no shit Michael!
The only way to generate yield in Bitcoin terms is to mismatch duration - literally run a Ponzi scheme. But Saylor expects that because the US Government will back the banks that this can’t go wrong 🤣🤣
Saif takes nostr:npub1sfhflz2msx45rfzjyf5tyj0x35pv4qtq3hh4v2jf8nhrtl79cavsl2ymqt line that capital will flow but HODLers will take equity rather than yield. This is the correct logical conclusion.
I’m not saying Saylor is completely wrong - I do see a future where banks will get into this space and lend and pay yield on Bitcoin.
But they WILL blow up. I don’t give a fuck if they’ve got their own nuclear arsenal let alone the full faith and credit of the US Government behind them, they WILL get out over their skis and they WILL be unable to fulfill their obligations at some point because they WILL greedily try to rehypothecate it in the meantime and no Government will be able to save them.
Saif and Allen both know the economy doesn’t require interest to function, that the world won’t grind to a halt without it - people will still spend money. Saylor just isn’t ready to let go of his statism (as evidenced earlier in the conversation) because he’s become accustomed to Billionaire privileges.
This is why I love #Bitcoin. You can be the CEO of the most successful public company of the past 4 years, all thanks to Bitcoin, and you will still be totally humbled by it unless you fully embrace the system as it is because it won’t be changing for your fiat games!
I’ve also been doing thought experiments with discount rates when valuing future cash flows. Anyone have any ideas about those?
Finally, an interesting Bitcoin podcast!
It’s been a while since I’ve seen people argue in Bitcoin but nostr:npub1gdu7w6l6w65qhrdeaf6eyywepwe7v7ezqtugsrxy7hl7ypjsvxksd76nak managed to pull Saylor into an interesting conversation about credit and lending in Bitcoin.
Saylor apparently hasn’t fully thought through the implications of 21M and remains wedded to his fiat ideas.
He expects there to be yield on Bitcoin in future, but never says where it will come from in a completely fixed supply money.. “They’ll have to sell their assets to finance themselves!” - yeah no shit Michael!
The only way to generate yield in Bitcoin terms is to mismatch duration - literally run a Ponzi scheme. But Saylor expects that because the US Government will back the banks that this can’t go wrong 🤣🤣
Saif takes nostr:npub1sfhflz2msx45rfzjyf5tyj0x35pv4qtq3hh4v2jf8nhrtl79cavsl2ymqt line that capital will flow but HODLers will take equity rather than yield. This is the correct logical conclusion.
I’m not saying Saylor is completely wrong - I do see a future where banks will get into this space and lend and pay yield on Bitcoin.
But they WILL blow up. I don’t give a fuck if they’ve got their own nuclear arsenal let alone the full faith and credit of the US Government behind them, they WILL get out over their skis and they WILL be unable to fulfill their obligations at some point because they WILL greedily try to rehypothecate it in the meantime and no Government will be able to save them.
Saif and Allen both know the economy doesn’t require interest to function, that the world won’t grind to a halt without it - people will still spend money. Saylor just isn’t ready to let go of his statism (as evidenced earlier in the conversation) because he’s become accustomed to Billionaire privileges.
This is why I love #Bitcoin. You can be the CEO of the most successful public company of the past 4 years, all thanks to Bitcoin, and you will still be totally humbled by it unless you fully embrace the system as it is because it won’t be changing for your fiat games!
Will watch! But what do you mean by no interest? BTC will likely be deflationary, so I figure the nominal rate might be close to zero or a couple of %, but real rate will be higher. Don’t you think? Not saying borrowing will be a good idea.
“We have a situation today where we’re all running around like headless chickens trying to inject sustainability back into the system, while every economist from the South to the North Pole with an actual say cheers for us to burn through every last resource, as if that somehow was the secret to achieving it.
It’s an absurdity so profound, it completely lacks comparison.”
#soundmoney #bitcoin #nostr #grownostr #inflation #deflation #gold #fiat #fiatsystem
”The end result is that, instead of us shaping the algorithms, the feedback loop becomes corrupted, and we, in turn, are shaped by them.
We become programmed.”
Read the article I wrote, inspired by nostr:npub1sg6plzptd64u62a878hep2kev88swjh3tw00gjsfl8f237lmu63q0uf63m's note that free speech is a distraction cause free thought & will is at stake.
https://medium.com/@penglunds/its-not-about-free-speech-free-thought-is-at-stake-342ec7dd5a81
#freethought #freespeech #freewill #nostr #grownostr #decentralization #algorithms #socialmedia #jackdorsey #bitcoin #btc
“Free speech is a distraction. Free thought and will is what’s at stake”, from nostr:npub1sg6plzptd64u62a878hep2kev88swjh3tw00gjsfl8f237lmu63q0uf63m earlier today.
I wrote this Medium article, inspired by those words. Feel free to share and spread! 🌏🌎🌍
https://medium.com/@penglunds/its-not-about-free-speech-free-thought-is-at-stake-605e19e7df0a
#Bitcoin #Nostr #GrowNostr #Growstr #FreeThought #Article #SoundMoney #Inflation
Here is the correct link: https://medium.com/@penglunds/its-not-about-free-speech-free-thought-is-at-stake-342ec7dd5a81
Give them time, they’ll get it :)
Have them read my latest article and then you can talk:
Gm, I do love books. #bookstr #gametheory #arbitrage #donthatetheplayer #grownostr 
nostr.fmt.wiz.biz
Did you like the book? Just wrote about game theory and sound money on Medium. Check it out if you want!
Indeed! I just wrote about this on Medium! Check it out!
In the follow up to this article (link in bottom), I touch on how most people - regardless of whether they consider themselves as believing in anything resembling the divine - live and act as if God exist. Might give a perspective - did for me once I understood it.
Btw - would love your thoughts on the medium article I just posted. I have many politically active friends here in Sweden from all sides–I’ve found that the intuitive analogies are the most effective to pitch #btc ! 🌏
I agree with everything you said. I also agree with the article in that btc has a skewed right-wing label to it, as it on a superficial level or at first glance may seem more appealing to someone on the ideological right. Ironically, I think those on center / left - even those pretty far out on the left - will be appealed even more by what it’s actually about when they understand it. Status quo conservatives - particularly those who’re the biggest beneficiaries of the the current system & who’ve picked their political side strictly based on convenience - I think may even retract some of their initial enthusiasm once they truly understand btc. Time will tell - but I’m completely with you on the point that left/right labeling is not very helpful. The “progressive” part of the label I think just helps sweeten the saltier taste of bitcoin at first glance for those still viewing the world with fiat eyes - which is why I believe that name is effective. /P
Alright, everyone, buckle up — it’s time to explain inflation in a way that actually makes sense: by imagining you’re stranded on an island!🏝️
Share this with anyone that needs a better understanding of why sound money / Bitcoin is the way! 🌏
#gametheory #infinitegame #finitegame #inflation #deflation #soundmoney #FIAT #bitcoin #btc
Fantastic article out from nostr:npub1xapjgsushef5wwn78vac6pxuaqlke9g5hqdfjlanky3uquh0nauqx0cnde
Perception and politics go together like peanut butter and jelly, which is one of the reasons I’m so repulsed by our political and two party landscape. Sometimes feels like it’s forever stuck in this pattern. But I’m hopeful bitconers that reject this left/right model can help usher in a new, hopeful future that actual binds us closer together rather than fanning the flames of hate, otherness, and doom. One of many reasons we’ll be moving on from The Progressive Bitcoiner label and leaning into Rebooting Money at the end of this year.
https://bitcoinmagazine.com/politics/why-the-dnc-doesnt-care-about-bitcoin
Hmm… I think you’re filling a void with that name, not so sure it’s strategic to change it. 🤔 It catches the attention of centrists/leftist which I believe is really missing (as explained in the article).