GM!!!
Last night I had one of my proudest moments as a Bitcoiner… one of my colleagues (who I orange-pilled) was able to orange-pill another physician! The second doc texted me today to get advice. He is ready to dive in and buy ₿ to put into cold storage for long-term savings (he currently holds some on Robinhood).
That's potentially hundreds of millions of sats getting pulled off exchanges in the next few weeks/months🔥
My orange-pilling friend used the same techniques that I used. WoS to show lightning's power and pique some interest. Then some education with a few episodes of WSB by nostr:npub1s5yq6wadwrxde4lhfs56gn64hwzuhnfa6r9mj476r5s4hkunzgzqrs6q7z
And wait.
It took a few weeks, but he now understands that Bitcoin is a bearer asset designed to preserve his wealth through time and space, and he’s ready to dive in.
I’ve seen lots of criticism for using custodial lightning to onboard and orange-pill because it introduces risk. And I’m here to tell you, you’re mistaken. nostr:npub1hcwcj72tlyk7thtyc8nq763vwrq5p2avnyeyrrlwxrzuvdl7j3usj4h9rq is just the beginning of a long journey. The education and guidance that follows is what matters, not whether you onboard someone with a custodial Lightning wallet. This doc is now reading the Bitcoin Standard and listening to nostr:npub1h8nk2346qezka5cpm8jjh3yl5j88pf4ly2ptu7s6uu55wcfqy0wq36rpev . He understands the difference between custodial and non-custodial solutions. He’s avoiding the hard shitcoinery lessons that many of us have experienced, and is on his way to becoming a maxi.
Ultimately, I will help him get to a place where he uses cold storage for long-term savings, non-custodial lightning for some spending money, and a small amount of custodial lightning for now, since it is the best solution to seamlessly onboard, get a lightning address, and use on #Nostr. When non-custodial solutions catch up, I will recommend them.
Please consider sending this newly minted Bitcoiner a few sats and a message to welcome him! I’m going to give him some time to absorb Bitcoin, but will be introducing him to #Nostr soon!
His address is:
publicdinner70@walletofsatoshi.com
🤙
I agree. WOS is perfect for piquing interest. Hardliners like nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx can really turn people off by thinking you should go from 0 to hardcore without the intermediate steps.
Tonight we finally took the Alexa out of our 5 and 3 year old kids' room due to privacy concerns and now at bedtime they are taking turns being Alexa and singing songs when the other requests one. Complete with "Alexa, volume 10" as the older one commences to scream the soundtrack from Moana 😂😂😂
There WILL be a recession and the Fed WILL drastically cut interest rates (maybe in the reverse order). The yield curve does not lie. I'm more inclined to believe the summative actions of global money managers than the words of a pundit economist touting the "strong economic policies" of the current political regime.
Opt out. Buy #bitcoin.
Just listened to nostr:npub1h8nk2346qezka5cpm8jjh3yl5j88pf4ly2ptu7s6uu55wcfqy0wq36rpev 's read of Farrington's "#Bitcoin is Venice." The content is exciting and deep; but I'm more impressed with Guy's voice acting as he gives each quoted reference a unique, convincing intonation. Move over, Jim Dale!
So many zombies...
On nostr:npub1s5yq6wadwrxde4lhfs56gn64hwzuhnfa6r9mj476r5s4hkunzgzqrs6q7z 's most recent podcast, I love Scott Lindberg's take on the idea of bitcoiners' Zero time preference and the game theory that follows.
The fed, wall street and capitol hill all think they can beat us, but they still don't realize we're playing a different game. And they haven't figured out the rules.
https://www.theinvestorspodcast.com/bitcoin-fundamentals/game-theory-and-bitcoin-scott-lindberg/
Two stories on NPR this AM that are the liberal equivalent of r/leopardsatemyface.
1. Washington State mandates overtime pay over 40 hours per week. Farm employers have to hire more workers to avoid overtime pay for seasonal workers who WANT to work 70 hours a week during the harvest season. Seasonal workers forced to leave since the economics of working 40 hours a week seasonally doesn't work.
2. California continues to institute "consumer protection" by not allowing insurance companies to raise homeowner insurance by more than 7% without a public hearing. Insurance companies flee California, leaving homeowners in wildfire prone areas without insurance at all.
NPR doesn't mention anything about government interference in the free market in either.
https://www.npr.org/2023/07/22/1186540332/how-climate-change-could-cause-a-home-insurance-meltdown
https://www.npr.org/2023/07/21/1188258994/overtime-farmworkers-washington-state-agriculture
nostr:npub1h8nk2346qezka5cpm8jjh3yl5j88pf4ly2ptu7s6uu55wcfqy0wq36rpev 's diatribe on the fiat-induced misallocation of capital hits the mark in his recent podcast:
Oh the irony!
I'd like to know if there's a correlation between being a #bitcoin hodler and being a musician (either professionally or just as a hobby).
Both require low time preference to see the benefits.
Are you both a #bitcoiner and a musician?
Please post your HDL and LDL when you have them available. People should know what they're getting into before jumping into a diet like this.
Based on the mempool right now, it looks like ordinals have become a buyer of last resort for blockspace. Tx fees are really low (~6sat/vb) but there are tons of transactions waiting. The last block constructed looks to be filled more than half with the same type of ordinal transaction.
Federal Government (and likely state governments as well) will need to be massively dininished under a Bitcoin standard since the books will have to be balanced. If we transitioned suddenly to a Bitcoin standard, our system would collapse and those that have become dependent on social programs would be in serious trouble, ultimately leading to social unrest.
If I were in charge of transitioning to a Bitcoin standard:
1. Institute a UBI. (This seems counterintuitive but hear me out).
2. Start gutting social programs to reduce the size of the government and let the UBI in the hands of citizens actually direct a free market.
3. Eventually this UBI will become worthless due to its inflationary effects.
4. People are forced to migrate to Bitcoin due to the worthless nature of the dollar at that point in time.
nostr:npub1s5yq6wadwrxde4lhfs56gn64hwzuhnfa6r9mj476r5s4hkunzgzqrs6q7z, you've had a lot of recession porn on your podcast lately (which I love BTW). nostr:npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83a 's new article points out why the looming recession may not materialize as we expect.
My July 2023 public newsletter is out now:
https://www.lynalden.com/july-2023-newsletter/
It discusses the topic of fiscal dominance, and how interest rates become a weaker and weaker policy tool as public debt increases.
Great article, as always. Do you have any plans to start experimenting with micropayment paywalls via lightning? I would love to see some people start leading the charge on changing the payment models for online content.
Try disagreeing with ultra-libertarian about gun control on Nostr and see how "nice" people can be.
You seem angry. Maybe you aren't stable enough to own an AR-15.
The only problem with the personal liberty of owning a mass killing machine is that there's no takebacks when it comes to loss of life.
So yea, chances are you are mentally stable toting around your AR-15, but the guy around the corner who drank one too many and got bullied for the last time by his boss may not be. Suing him to oblivion won't bring my dead kids back.