I’m intrigued by the idea of switching to a #Bitcoin standard, at least in part. I say “in part” because my wife is unlikely to let me switch all our finances over to operating internally in Bitcoin so I’m going to have to do this with my toy money account. She’s coming around to the orange way of doing things, but it’s going to take some time.
Has anyone else done this and what has been your experience with it?
What have you learned from it?
Would you do something different if you had to do it again?
nostr:npub1h8nk2346qezka5cpm8jjh3yl5j88pf4ly2ptu7s6uu55wcfqy0wq36rpev if you haven’t done a podcast on this idea yet, it might be interesting to do one.
I would challenge the phrase “my wife is unlikely to let me…” Do you have to ask for permission? If you have full responsibility for your household, then you must have the authority. If you are not a bum, at most, you may share responsibility, in which case agreement over permission may be a more appropriate model. Regardless, my suggestion is you help her understand what you see with examples (houses getting cheaper in sats, retirement happening sooner, cost opportunity of thinking long term, etc). Remember you once were blind too. Look back, what background did you have that lead you to understanding the key elements? Maybe she’s missing some basic concepts you assume she knows. I will say, life is even better once your wife finally gets it. It also helps if she’s ride or die type, because she starts by jumping in it with you just because she trusts you. Then your job is to help her see there was never any risk.
#Bitcoin eliminates the incentive to own your house under regimes that impose property tax today. The wealth-building aspect of paying towards equity is inferior to saving in #bitcoin (this is a fact). Plus, renting removes liability, caps costs, and provides flexibility. Even with a fully paid-for house, property tax (rent paid to the government), maintenance costs, and insurance will add up to about the same as rent for a similar place. And since most people move every 7 years on average, the cost of buying and selling will inevitably suppress further your wealth growth (and that is assuming you buy and sell at the right time). The best strategy for the current time is to let the transition take place. Once we are past the peak fiat era, buying a house at utility value with low to no property tax will become the norm. Local governments will look at people as assets for the local economy and will compete to attract residents. Now owners are just cash cows handcuffed to their piggy bank sitting on government property. Not a great proposition.
A rule for life: without exceptions, regardless of the situation, leave the kids alone. Protect the kids or leave them out of it. Peak fiat leaders don’t respect this rule. They are scum for it.
Coincidentally, I just wrote mine as my last note. But it is not 5 lines or less.
How I went from #Bitcoin enthusiast to toxic #Bitcoin maximalist.
Primarily anger, strong, unforgiving anger.
Anger for being told by boomers not to eat avocado toast while they sit in their million-dollar houses, bought for a decent price with money they stole from our generation, which we are currently paying back in the form of diminished purchasing power and lower quality of everything.
Anger for working longer and harder every fucking year, yet getting less and less overtime.
Anger for having to be exceptional, just to acquire the same things our predecessors got for being average.
Alongside came the frustration too.
As a man, being responsible for giving my family the best life I could possibly give them came with pressure. This pressure turned into frustration when I realized that no matter how good I was, the system outpaced me by stealing faster than I could grow ahead of it.
Guilt.
Guilt that I wasn’t giving my wife what her father easily gave her mother.
Guilt that I couldn’t even keep up with what currently was on the table because somehow, overtime there was less, no matter how much I pushed.
As a man, I always knew to take ownership and blame only myself for the negative outcomes of my life. This is why I went above and beyond every time. I left my country, I made it to the US, I made it to the Ivy League, I competed against everyone and everything, and I was successful when measured by every traditional metric. Yet, the average boomer seemed to have historically done way better while doing nothing special.
I actually then realized that the average boomer is actually quite weak, both physically and mentally. Which made sense given the good old saying that states ‘weak men create bad times’.
I also realized I’m not lazy. I’m not a rent-seeker, I’m a builder, an engineer; I’m not afraid to do hard things and compete. I have never aimed to do my best; I’ve aimed to do whatever it takes. I realized I could benefit from a system with rules and no rulers that requires value for value, honesty, and integrity. So I embraced Bitcoin.
I’m no longer angry. I’m not frustrated any more. I don’t feel any guilt. I finally understood what was going on so I adjusted accordingly. I’m at peace now. I will plant trees the shade of which I’ll never lie under, but I will be among the ones within my generation to turn the trend around, and that is a great purpose. Fiat times will be studied in the future, and people will wonder how this was even possible. This is what most haters of Bitcoin don’t get (mainly older generations). Those of us who think like this, we’re not selling, and we’re buying, and we’ll keep buying for as long as monopoly paper can be exchanged for real money, motivated by everything mentioned above. And I will never jump ship because the alternative I already tried and I didn’t like it. It’s enslavement and misery. Because I’d rather go all the way down for the right cause than cowardly jump into becoming a slave to the system again. And I will buy all the fucking supply if the price ever dares go low enough, as will all those who like me understand.
Onward.
Most people think that a 2008-type of crash will take place one day. With home values in USD going down suddenly. They don’t realize that the housing market is crashing if you measure prices in sats. In other words, it’s crushing upwards measured in USD right now, and it has been for a while. The end of the crash will happen when the exponential increase in USD prices reaches a point where people will no longer accept any amount of USD for their home as payment. In other words, home prices will have then crashed upwards in USD so much, that the USD needed to pay will technically not exist. People will demand a different form of payment, and #bitcoin will be it.
The user interface clearly outlines the keys needed to initiate a transaction, which should help in proving you cannot move funds without traveling to the locations these keys may be kept at (like a vault or a safe deposit box). It also has an emergency lockdown feature that would lock you out for a set amount of time, and even if you have to provide your access details, Nunchuck will clearly state access is temporary unavailable. Even if somehow someone got a hold of one of the keys, the platform key has customizable policies like wait time periods prior to broadcast, etc. These guys have truly thought about wrench attack scenarios. Most people think decoys or hidden wallets with passphrases will fly. And in some cases it may, but this assumes an attacker trusts your word and that you truly don’t have any more funds. With Nunchuk, you can be transparent, both about your funds, and your inability to truly access them. Plus, providing an attacker with some decoy funds and hoping that’s good enough solves nothing. What makes you think he won’t try again down the line. Multisig, multivendor, multijurisdictional and geographically distributed keys is the only way. Nunchuk provides the best tool in the market for this, imo. A last word of advice may be, you may want to create proof that the keys are truly outside of your access. Hopefully in the future Nunchuk can provide a feature that helps with this, but in the meantime, you may want to have strong evidence that you don’t have them, so that no one spends more time than needed at your home.
Nunchuk is the most gangster solution right now. You get privacy/no KYC, full control, flexibility and security features that make a wrench attack useless. Plus the coin control is just a master piece. You can use a Jade + CC or another Jade + Tap-signer for 2/4 or 2/3 too
nostr:npub1cvqlzvmjercdn0ypsmv8f7j9lge6ahsnueh5rparh53wuswftv4q49yjt3 has achieved the perfect balance between privacy, sovereignty and security. It has essentially eradicated wrench attack profitability and single point of failure, while providing a platform for trust-less inheritance and incredible flexibility.
The fiat system is to blame for processed, addictive foods and the toxic environment we live in. We get sick more often because broken money incentives lead to degraded quality outputs. If you’re not in #bitcoin to defund the state, do it for your kids and your grandkids
It’s strange to realize that the government charges us tax when we spend our real money (aka #bitcoin) because their fake money has lost value against ours since the time we acquired it as a result of their fraudulent actions
Weren't it not for #bitcoin, I might have chosen an Ocean’s Eleven-type of occupation. I know I wouldn’t have resigned to a life of slavery
Not having a presence on #Nostr in the digital age is technically self-enslavement. It is the only means to defend and enforce the First Amendment
The second amendment was the founding father's solution to a $5 wrench attack. Act accordingly #bitcoin
Working in politics or finance is rent-seeking. It doesn’t add value to society. Build things instead
The best leaders aren't those who seek leadership as their mission, but rather those who see no alternative but to lead as a result of their mission
Peaky Blinders (2013) and Yellowstone (2018) are good shows. Surprised they haven’t been cancelled
The government robs/taxes you when you buy property with income they have already robbed/taxed you on. Then it robs/taxes the artificial appreciation (that they caused) when you sell it. If you don’t sell it, they’ll rob/tax you quarterly and indefinitely while you hold it until you can’t afford the tax or you die. Then they’ll rob/tax your family before they get it. They’ll continue to rob/tax them until they can’t afford the tax or die. Throughout the time you or your loved ones “owned it," they reserved the right to tell you what you could and couldn’t do, and could take it from you at any time through eminent domain. Don’t buy property unless you want the government to lend you a really expensive toy; buy #bitcoin to keep what's yours.
“We question all of our beliefs, except for the ones we really believe in, and those we never think to question”