#phish
Bitcoin is a wing suit
Nothing lasts, nothing stays
Caught in this procession of unchanging days
What’s new is old, what’s old is gone
You’re pushed up to the edge, so put your wingsuit on.
Victims of SVBs bank run are survivors of crypto - they see themselves as having done the right thing.
Bitcoin sees them just as people getting rugged by trust cause they still believe the Fiat lie.
1st they came for the shitcoiner VCs - then they came for the nocoiner VCs.
Maybe we should be only caring about VC denominated in Bitcoin.
DST =‘fake fiat time
UST = fake fiat money
Nocoiners woke up to the nexus of the Matrix this morning
We have 29 examples in 14 years of Bitcoin’s blockchain not being fooled by the fiat lies of daylight savings.
You can’t save daylight unless you have proof of work that exceeds Bitcoins consensus of what time is.
#phish
Deep cut for those who really know the band:
What if Jeff Holdsworth was the Satoshi character of Phish? Starting the band to fulfill Gods purpose, whatever that was, and then disappearing cause he knew he had to let it happen without him.
The rabbit hole is deep.
How do people post images if they’re using Danus on their phone?
I pay a monthly fee for an anthroposophical doctor - I’ve used him a few times for my kids.
One time he actually referred me to a Western doctor (watt removal on my child’s head) but I wouldn’t have thought to go there first until my doc told me there was no other way.
If I wasn’t also forced to buy health insurance I’d mostly divert it to an HSA - if you break a leg or need a wart removed - you wanna have that saved for.
Pura Vida
Bitcoin is woke
Everybody else is broke
@allen next book should be about shitcoins called Farrington on Fold em
What’s a bulk zap?
It’s entirely whimsical right now. Only in the retrospect of my experience might I find reason.
Contagion is going to be bad - banks are gonna have to raise money NOW when it’s much scarcer than it was in the last 30 years. They will be paying double digit interest to debt facilities indefinitely.
First will come the open market operations to drive down bond yields. (Brrrrrrrrrr)
Then come the bailouts once the borrowing rates are back to zero
(Double Brrrrrrr)
Then comes CBDC to control hyperinflation - gonna take a lot of cheddar to get mass adoption
(So much Brrrr Brrrrr Brrrrrrr)
Politicians have lost their grip after lockdowns and censorship.
Medical establishment lost their position after Covid.
Media establishment lost their audience by selling out to both of the above
Banking system can’t persist in a 5% fed funds rate
It’s crumbling. Slowly. 1 confirmation at a time.
The contagion isn’t default. It’s the ripple effects of having to raise money at 9% to avoid default.
The modern CFO doesn’t know what to do because they are used to borrowing at 0%.
There’s a real consequence and they don’t know how to tell their Boards they will need to service a debt facility at 9% interest.
A Satoshi with a single confirmation is more secure than the entire financial system.
Confirmations take time and energy.
Security increases every block and Bitcoin has never failed to produce one since its birth.
Imagine being a central planner and not having a fake pandemic or lockdown card to play