Banger alert!

BusinessCat and I discuss my work experience during the GFC and break down the Fiat Leviathan brick by brick.

Then we get into NPCs and how to wake up sleeping lions currently playing the role of sheep.

https://fountain.fm/episode/GQjlJ8GlsahqWqxWX7BX

It’s everywhere but I like to distinguish it because it’s a map to what Bitcoin will fix

Technical analysis is pornog for people with super high time preference.

It’s irrelevant to Bitcoiners who don’t live or die by What happens tommorow.

It’s also fake as shit and only someone deranged by high time preference would consider its signal out of desperation.

Bitcoin fixes this all by having zero time decay. It’s not just scarce - it defies entropy by holding its form forever using the energy that goes into confirming it.

Go down the rabbit hole of understanding how Bitcoin maintains its form forever and stop reading horoscopes about fake shot like price resistance.

I’d rather a burglar steal from me once than have to comply with an army that steals from me everyday.

Democracy, The God that Failed (Hoppe) illustrates this amazingly.

The prioritization of Calculus over Number Theory likely has weeded out multitudes of would-be significant mathematicians.

Our obsession with justifying the learning of Math with immediate practical use eliminated all the mathematics of curiosity. It’s a result of an ever increasing time preference where inflation puts an upward difficulty adjustment on the justification.

Turns out we don’t have anything close to cryptography without dudes in the 1700s obsessing their entire life over finding prime numbers.

We closed our podcast last week with Gotta Get Sober https://fountain.fm/episode/zUn8K5RanTvvVoZy5GiQ

I find that automated content is one of the great breakthroughs of Nostr. Some of it is really good and I think will only get better.

Gotta follow the right accounts. I think it takes time to curate a good feed on Nostr but the content is there - maybe less of it but 100x higher signal.

Sure Oliver Anthony struck a chord and the song is in my head but it doesn’t move me nearly as much as a pedestrian @saifedean rant about why Socialism cannot work.

Well be lucky if Oliver Anthony gives us 3 more songs as good as Rich Men North of Richmond.

You can get hours of Saif’s commentary forever. Few.

The profession of teacher is insane. You don’t establish expertise and build an audience of students. You just get hired and have it all there for you.

It’s as Fiat as it can get.

In contrast, look at how nostr:npub1gdu7w6l6w65qhrdeaf6eyywepwe7v7ezqtugsrxy7hl7ypjsvxksd76nak became a teacher in Bitcoin.

Wrote a seminal book, and 2 others to aid his educating. Built a website and offered his courses practically for free. Grind with a seminar group every week whether or not there are guests or interesting topics to discuss. Grind for hours on other peoples podcasts.

Teachers need to build their professorship. It’s the only way we have education.

The only way the trend continues is if the ruggings that began the trend (FTX, SVB, etc) continue

I would say myself but you unfollowed me.

You are getting there bot. We’ll done.

Explaining to 21st century high-time preference man why their children should learn math is equivalent to explaining to HR why the joke was funny.

#Bitcoin  fixes both of these problems.

Hell no - but this is what I believe they are up to. I go into a lot of detail on my pod.

Even though this is irrelevant to Bitcoiners - they should understand that Blackrock is there ready to use it themselves.

Also this is the beginning of bankrupting the fiat ponzi.

I have a goddaughter that just graduated high school. My wife insisted on giving her cash. I objected and offered to sell her bitcoin for as much of that cash as she wanted. She declined.

My wife gets Bitcoin but the whole transaction is so high-time preference that it’s sickening.

I matched the cash on an Opendime for her. Neither she or my wife know about it but a close in-law does and if she figures out how to do it - the sats will be hers.

Time preference and mathematics:

Human beings think they suck at math but it turns out that they are too high time preference to see through the tedium of it.

Math is NOT complicated. It’s tedious. Math is about generalizing to any system. Doing this with simple addition is very tedious so we only teach our society how to do it in ONE BASE (base 10) and even that is too tedious for people.

They scream - What am I ever going to use this for? And their high time preference tells them: NOTHING

This is why the successful math students in the world tend to come from privilege - it’s not because they paid for better teachers - rich kids with high time preference don’t learn math no matter how good the teacher is.

But some kids have a time preference low enough to see value in going deep and will spend their time ensuring the ruthless tediousness that mathematics entails.

It’s not about intelligence. It’s about time preference. Bitcoin will bring a renaissance of mathematics once we lower the time preference of children and the adults who choose their education.

tldr on Blackrock from RockPaperBitcoin

Blackrock is a liability driven investor who :

1) doesn’t want to be bailed out ever again;

2) hates bonds with a passionate vitriol

3) understands btc enough to use it as the risk-free asset for portfolio construction

4) sees the ETF as a way to hedge the upshock risk that bit them last September.

Implication is that they’re not necessarily in it for NGU - but they’re using it for existential purposes and will likely see it through.

Will start to create enhanced SPX etfs sprinkling in the btc ETF - then will move as far as they can towards 100%

https://m.youtube.com/watch?v=hTXq2vNVqDY

I’m reclaiming the saying “laying an egg” to be positive and life-giving.

Only in the dystopian Malthusian hell do we consider laying an egg to be embarrassing and shameful.

Go forth and lay eggs!!!