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The Bitcoin Commons
62a45004f0f9fac8dbf334c8a28676fe4f8df3182efdc9b862ef3b9bb2ff78c5
Used to work for labor unions. Now I work on fixing our monetary system.

How I look when I HODL during downturns

--VS--

the 3 days every cycle when price goes up

Aren't half of these people from the NY agreement? 🤡

Caleb is right. The founding fathers should have gone back to the UK to agitate for democracy there, they could have reached way more people. The Americas are almost empty anyways, the only people here don't even speak English. You don't even have roads!

Each year in Bitcoin feels like 10, because these 20-40 years are laying the monetary foundation for the next 1000 years. The density and speed of events is breathtaking.

Cypherpunks will be remembered on the same level as the Christian Apostles, or the US founding fathers. Noderunning will become a sacred duty, charged with carrying the fire of sovereignty into the future. Satoshi gave money back to the people. Let's keep it.

Except Bitcoiners. We love being invisible. The alternative is to have someone $50 wrench attack you. No, thank you very much. I will keep looking homeless with my goodwill outfit.

Purpose. This is probably one of the highest concentrations of purpose driven people who see the big picture and have awoken to the Matrix, that exists anywhere online. A digital Zion, so to speak.

Old school leftists (anti-Iraq war, anti Washington consensus/IMF/WTO, anti-free trade agreements, pro Occupy Wall street), have tried for decades to end USAID, calling it a tool of imperialism.

The fact it's Trump/Musk who are finally doing it, was not on my bingo card.

Which one of you just solo mined a block?~~~!!!!!!!!!

You could never dislike Alby, you can only love it more. For example, when BOLT12 is added.

I was wondering if other Bitcoiners are into Earthships! They are amazing indeed. I am taking their online course now since I can't leave the fiat mine yet. Planning to go volunteer for a few builds this summer and when Bitcoin hits a certain level, build one for myself.

Same here. I want to build one of those Earthships, and mine Bitcoin with off-grid solar.

I have a few acquaintances who play boardgames, so I custom made a monopoly board with Bitcoin and inflation, then made then play it.

Surprisingly, they still talk to me. 🤣🤣

Orange Game theory #63:

Rivals of the U.S. will realize, or they already do, that their best chance of toppling the US dollar system under which they toil and struggle, is by aiding Bitcoin adoption. This is a hard pill to swallow, because like many who strive to overcome their masters, they tend to aspire to be like them, to walk like them, to dominate like them.

But Bitcoin, their best, and perhaps only chance at succeeding, represents in effect a renunciation of the fiat priviledge to oppress, dominate, steal from, and otherwise sack the people of the world.

What will be their choice?

Michael Saylor is just another annoying billionaire who thinks he knows Bitcoin better than the plebs, even better than Satoshi. He made some money by accessing the money printer and buying Butcoin with that, and now thinks he is the king of the world.

Well, time will tell, but my bet is that his arrogance will lead to a fiery downfall, much like Roger Ver. And MSTR is the trap of this cycle, much like ICOs and yield products were before.

Why do I think that? Because someone who thinks of themselves as above the network and its consensus, will only manage to slowly cut himself off until he finally forks himself out of Bitcoin. Saylor should remember that before he does the same.

https://bitcoinmagazine.com/takes/michael-saylor-doesnt-understand-bitcoin

Replying to Avatar HODL

Thought experiment.

Option # 1

Let’s say you have 10 bitcoin and we hit 2 million in the next few years.

You’re tempted so you sell it for 20 million dollars.

After taxes you’re be left with 16MM.

Which you use to comfortably generate 1.2MM a year in the tradfi markets.

So you take the money and retire.

Bitcoin crashes 60% back to 800k.

For a few years you feel like a genius. You enjoy your new rich person lifestyle.

You even buy back a few bitcoin. 2 to be exact. 20% of what you used to have.

Then bitcoin rises over the next decade to be worth 50 million per coin.

You’re worth 120 million now. And you decide to sell a little over half a coin and upgrade your lifestyle again to be able to generate an additional 2 million a year.

You’re now on paper worth 120 million, you generate 3.2 million a year (266k a month) and you’ve been largely stress free for the last decade.

Your kids will inherit roughly 1.62 bitcoin from you upon your death.

You have some level of regret about not hodling through, but you’ve been largely stress free and the mental health benefit was worth it in your mind.

Vs.

Option # 2

You have the same 10 bitcoin but you Hodl them.

Your stress levels are persistently higher.

You also decide to retire when Bitcoin hits 2 mil, but you decide to do so in bitcoin terms.

Your plan is to sell a little bitcoin as needed in order to fund your lifestyle.

This is roughly 1-3 million sats a month. Depending on bitcoin price.

Over the course of 10 years you end up selling or spending 2.4 bitcoin and are still left worth 7.6btc when bitcoin reaches 50 million.

Your net worth is 380 million.

You’ve reduced your lifestyle in bitcoin terms down to a million sats a month. (500k) or 6 million per year. You’re 46, Assuming you live until you’re 90 you will pass down 2.32 bitcoin to your kids.

You have no regrets about the way you played it, but your stress was consistently higher and there were a few scary months along the way.

Which option do you choose?

1 or 2?

lol, this is comical from the perspective of someone who has lived through the death of a fiat currency, twice. Americans think the dollar will never die. To that I say:

Sure, maybe the USD is truly immortal, unlike every other global reserve currency before. But imagine waking up one day and they printed so much money that your $120 million USD can barely buy you bread (aka soft default). Oh, and you can't buy Bitcoin either because they have blocked off the exits in anticipation of this.

Alternatively, imagine waking up one day and seeing everyone's bank accounts frozen, the funds are then confiscated in a "bail in." Your $120 million USD is now theirs. After much public outcry and burning and looting, they give you back your money in a new currency they just printed, worth 10% of your original purchasing power. Meanwhile, you have no Bitcoin because you sold it all!

Moral of the story, fiat is as meaningless as toilet paper. Good luck living your "stress free" life in fiat land! I know what I will be doing.

Lightning is so dead, I sent 3.5 millions sats in a single transaction on my first try! What is YOUR #lightningisdead story?