Avatar
Niko
636fdb4de194bca39ab30ab5793a38b8d15c1b1c0a968d04f7fe14eb1a6a8c42

Easiest way I found was to download Umbrel. Run your Bitcoin & LND node, Mempool instance and NOSTR relay with a few clicks.

Is it a coincidence that Bitcoin was created at the start of the 4th turning?

I might write a new book called “Bitcoin Dad, Fiat Dad” a modernized version of Robert Kiyosaki “Rich Dad, Poor Dad” book. What do you think?

Are there any times in history that experienced civil unrest when economic and political conditions were similar to what they are today? When I have conversations with those in their 70s, they say they have never seen the world as fucked up as it is right now and am curious if information just didn’t travel as fast, or are we truly experiencing a 4th turning. If we are, what are you doing to prepare aside from adopting a Bitcoin standard? Thoughts?

Replying to Avatar Lyn Alden

Back in the 1930s and 1940s, there were a lot of capital controls, lending restrictions, securities restrictions, etc. And it was for two different but intertwined reasons.

One obvious reason was that, among countries involved in trade wars or shooting wars, they wanted to reduce capital flows to the enemy.

A second reason was that, due to the war, sovereign debts became so high relative to GDP that they had to inflate away the debt, which was a form of default. It wasn't just 6102; it was a broad range of controls. Carmen Reinhart described it well as “creating a captive audience” in an

IMF Working paper:

“High public debt often produces the drama of default and restructuring. But debt is also reduced through financial repression, a tax on bondholders and savers via negative or belowmarket real interest rates. After WWII, capital controls and regulatory restrictions created a captive audience for government debt, limiting tax-base erosion. Financial repression is most successful in liquidating debt when accompanied by inflation. For the advanced economies, real interest rates were negative ½ of the time during 1945–1980. Average annual interest expense savings for a 12—country sample range from about 1 to 5 percent of GDP for the full 1945–1980 period. We suggest that, once again, financial repression may be part of the toolkit deployed to cope with the most recent surge in public debt in advanced economies.”

-IMF Working Paper No. 2015/007

Unfortunately, as most here know, both conditions are once again present in the 2020s. The US/Europe vs Russia/China contest is providing a useful excuse for governments to crack down on privacy, p2p exchange, money transfer, etc. Meanwhile, western governments have a similar sovereign debt problem that ultimately necessitates inflating the debt away.

Some of this Operation Chokepoint 2.0 stuff is just targeting scammy crypto companies and things like that. And the SEC enforcement actions are also going after crypto securities fraud and so forth. For bitcoiners, those things are not particularly relevant.

But under the surface, the bigger risk is all of the ongoing pressure on privacy, p2p, and the free flow of capital, including tighter bank restrictions and debanking.

What options did people have during that time to protect their wealth since they didn’t have Bitcoin and Gold was illegal to own?

How to you inform someone about the importance of Bitcoin without sounding like the world is going to collapse?

Pricing goods and services in Bitcoin might be one of the most overlooked and important things to understand about money. When you measure things using a currency that losing value, your gains aren’t what you think they are.

https://pricedinbitcoin21.com/landing

Last time I did this, I lost 35 pounds. I was extremely active and couldn’t consume enough calories within my feeding window since I wasn’t super hungry. How are others who are active (burning 1k calories a day) consuming at least 3k calories to maintain your weight?

Since everyone is ditching Twitter for NOSTR, do you think all the SPAM bots will start saying “Zap me later” with a link to Telegram instead of “Thank me later” on Twitter? #[0]

Dr says to the patient: You are suffering from what we call “Being a dickhead.”

What app is everyone using to create all these cool art posts I’m seeing?

Stupid shit like that makes me want to delete the app completely. A man with such power can do a lot of good in the world (which he is) but then he goes and does shit like this. 🤦‍♂️

I’m all for having a little fun, but that’s reckless.

I called the government today and asked if I could donate my Bitcoin to the Treasury department since I think it’s only fair to give most of what I worked really hard for to those who need it most and didn’t work for it.

Only thing that would stop them would be the inability to move dollars from their banks to exchanges. I hope it never gets to that, but it’s a real risk we need to consider given recent events. What are the other options?

Just received an email from Bittrex that they are ceasing operations in the US. (I used them once) Also saw Luke Gromen post that his local bank is not allowing on/off-ramp for exchanges. There are only a few banks left standing that provide these services. Things could get interesting real quick.

Great article! Do you agree that over time, Bitcoin will help bring the price of real estate back down to its utility value making housing more affordable for people again instead of being used as a piggy bank?