Something I’ve thought about a lot in the past couple of years:
Money is the one good that every single person uses. It’s one half of nearly every trade.
As long as the price of money is set by a centralized entity, a true free market is fundamentally impossible, because every transaction is influenced by price controls.
I literally just had to pull the car over to start writing: while listening nostr:npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe describe “lightbulb moments” (in the context of free markets and deflation), a lightbulb — call it a zap — struck me profoundly…
Unlike the fiat system, Bitcoin IS a free market for money. Meaning that in Bitcoin terms, “half the equation” is already resolved into a deflationary free market system. Even with governmental price controls on many products, because of how radically free Bitcoin is, it completely changes the nature of the trade.
What clicked for me was this: Bitcoin exists — it’s already here — meaning that, humans already, here and now, have the choice to operate/participate in a free market, where prices fall forever.
It’s not “when we reach hyperbitcoinization” or “when Bitcoin is legal tender” or “when adoption happens on XYZ level” (although all off those help to can grease the wheels). It’s already here, if you CHOOSE to measure in Bitcoin.
No joke, my mind was blown so fully that I had to pull over so that I could write this stuff down. Now that I did, I realized it belongs on Nostr 🫡
Back to the drive, and to the podcast. Thanks for keeping my wife and I company, nostr:npub1cj8znuztfqkvq89pl8hceph0svvvqk0qay6nydgk9uyq7fhpfsgsqwrz4u and Jeff 🙏🔥
Yes, yes, yes!
I too have had a Booth bomb blow my brain before (see my profile header).
If I had had the benefit of Booth back when I first stumbled into bitcoin in 2010, I’d be a billionaire today. But the best I can do is spend my time in the system I want to grow…and having made all the mistakes one can make in bitcoin to varying degrees, I’m like a wizened scholar ready to preserve and repeat the deep insights of those who have seen farther than I.
In continuation of the story of my naked hot wet realizations this morning, a corollary is this:
Maybe the final state of the Bitcoin / Fiat story won’t be a single cataclysm of explosive hyperbitcoinization but rather a gradual refining process where as the more people that exit fiat for bitcoin, the fiat powers that be are forced to change behavior to retain those fiat slaves they have remaining. Maybe Bitcoin’s offer of a credible threat of fiat exit will be a big enough stick to force an end to fiat slavery…
…and yes, I’m still talking about my shower thoughts from this morning.
So, this morning, while I was having a good time naked, hot, and literally dripping wet💦, I had an interesting about hyperbitcoinization:
It won’t happen until a major rug pull happens in traditional markets. Perhaps, for example, a large brokerage goes bankrupt and people realize just how little $500,000 SIPC insurance really is…
What was I doing this morning you ask, smirkingly? I was showering. Seriously, get your mind out of the gutter! 😂
One can’t have a reliable belief system without questioning everything.
Example: if you have multiple witnesses to an event and they all agreed on all details, does this make it more likely to be true? Or less? I’d argue less.
This is a complex issue: whether one has a duty to preserve life in the face of a lethal aggressor or is there something good about refraining from enforcing one’s desire to live.
I see aggression as something to be resisted by all those capable. I feel defending self and others against aggression is a duty, both a moral duty and a civic duty. Our bill of rights agrees it’s a civic duty almost explicitly and implies it’s a moral one as well.
That’s awesome. I used to have two full sets of the bitbills that the MIT kids made (preceded the casascius coins) but I also had a full set of the first year of the casascius coins (1, 5, and unfunded bar). But he kept making more coins and I was poor, so I never got any of the fancy silver ones.
Try Blue letter Bible app. Integrated concordance so you can find the Hebrew or Greek word being translated.
Also Bible Project YouTube channel has very insightful videos on many books of the Bible and can help with literary form/context/function.
Defense can be violence. If one attempts to kill me, I will enforce my desire to remain alive through lawful application of force. My violence is justifiable…even if it results in death. But even the law recognizes such defense as violence. One must provide an affirmative defense as to why taking a life was lawful.
It’s actually very good for generating the sensation called satiety. Low fat dieters struggle to feel full.
Violence isn’t necessarily bad. All violence is is the enforcement of your will over another’s, commonly requiring force or threat thereof.
100g of butter is a rather large serving though…that’d be like 900 calories :)
Another fact to perhaps incorporate into your analogy: a rotating body orbiting a star will slightly speed up its orbit or slightly slow down its orbit depending on which direction it rotates; why? Because when it releases heat from the star on its dark side, it gets a little push. That push will either be in the direction of orbit or exactly opposite the direction of orbit.
What if fiat only has a bottom because bitcoin exists…
Women would be owed how many trillions for their unpaid work?
In a world of value for value …
See my reasoning. 🤣
https://www.bloomberg.com/news/newsletters/2024-03-28/what-do-we-owe-women-for-child-care-and-housework-3-6-trillion nostr:note1cvultujaxefm3u6mfnh5mll0d49eh50kuf9twvkx2mkelanysltqc3380r
And that’s $3.6T of economic transfer that went untaxed.