“…the product evolution of social media apps has led to a point where I’m not sure you can even call them social anymore — at least not in the way we always knew it.
They each seem to have spontaneously discovered that shortform videos from strangers are simply more compelling than the posts and messages from friends that made up traditional social media. Call it the carcinization of social media, an inevitable outcome for feeds built only around engagement and popularity.”
#grownostr
https://www.theverge.com/2023/4/18/23672769/social-media-inevitable-death-monetization-growth-hacks
“At some earlier stage, or at some smaller scale, I do believe people would be willing to pay for social products that serve them. But these products rarely get built because investors simply aren’t interested in putting money toward “small scale social” that better reflects our IRL social networks. It’s simply a far less lucrative business model than the one Mark Zuckerberg came up with all those years ago.”
“…the product evolution of social media apps has led to a point where I’m not sure you can even call them social anymore — at least not in the way we always knew it.
They each seem to have spontaneously discovered that shortform videos from strangers are simply more compelling than the posts and messages from friends that made up traditional social media. Call it the carcinization of social media, an inevitable outcome for feeds built only around engagement and popularity.”
#grownostr
https://www.theverge.com/2023/4/18/23672769/social-media-inevitable-death-monetization-growth-hacks
The dollar is, whether I like it or not, a unit of account. #Bitcoin, whether one likes it or not, is a nascent form of money. Therefore, the milestone of dollar parity is noteworthy because both are related to money unlike filet mignon, unicorns and leprechauns.
Or perhaps I’m completely off the mark and both the dollar and Bitcoin will, in the fullness of time, take their place in the scrap heap of history.
“The job of the Federal Reserve, Tucker said, is to be the buyer of last resort of government debt. “People can talk about a dual mandate from the Fed over inflation and unemployment,” he said. “That's nonsense. They have a single mandate, and that's always to keep the government liquid.””
“Tucker said the fundamental case for Bitcoin was made conclusively almost at the outset. “As far as I'm concerned, the proof of concept of Bitcoin was achieved once it achieved dollar parity,” he said. “The miracle was over. We had finally invented the equivalent of gold for the internet age. Digital gold is what it always has been.””
“Banks become complacent when they think they are safe, and a complacent bank is the most dangerous institution in the world. To be really safe for their depositors, banks need to feel the fear.”
“One of the unfortunate side effects of regulation is that it tacitly encourages the development of business models designed to avoid it. Loopholes are inevitably exploited. Complex structures are created to circumvent regulations. Assets and liabilities are moved around to create the impression of a sounder balance sheet that is in fact the case. It’s all a game of smoke and mirrors. And it works - as long as people believe it.
We don’t know how many banks are actively avoiding regulation and exposing their stakeholders to excessive risk. But as we have seen, it only takes a couple of rogue banks to destabilise the whole system.”
“Seventy-five economies globally “still limit women’s rights to manage assets.” There are countries in which women are not allowed to own property or inherit it — they never will be owners of land that could be used as a security to apply for a loan or support their informal businesses. This is occurring mostly in countries in the Middle East, North Africa, South Asia, Sub-Saharan Africa, East Asia and the Pacific.”
In theory I think you are right. But, in practice, this approach can put a person into a lot of problems. For example, you rent a place for many years to avoid taking a mortgage because 1) you think the financial house of cards may collapse at any time and 2) you want to take the moral high ground by minimising your involvement in fiatnam. Ten years later, house prices have gone up, you’ve spent a fortune in rent and you are financially far behind people who did the “normal” thing and loaded up on debt to buy their home (“Route 1”). Yes, it’s possible that hodling Bitcoin for 10 years will outperform Route 1 (from both a nominal returns and ethical POV) but this is all based on an assumption that Bitcoin will continue its remarkable growth. It’s this last point I think we need to consider with less hubris. For many Bitcoiners continued NgU is a near certainty (View 1); outsiders may not see it this way (View 2).
Have we discounted the possibility that View 2 (and associated capital flows) will dominate View 1? If so, is it ethical to expect and encourage people to have more than 1-3% of their wealth in Bitcoin?
In theory I think you are right. But, in practice, this approach can put a person into a lot of problems. For example, you rent a place for many years to avoid taking a mortgage because 1) you think the financial house of cards may collapse at any time and 2) you want to take the moral high ground by minimising your involvement in fiatnam. Ten years later, house prices have gone up, you’ve spent a fortune in rent and you are financially far behind people who did the “normal” thing and loaded up on debt to buy their home (“Route 1”). Yes, it’s possible that hodling Bitcoin for 10 years will outperform Route 1 (from both a nominal returns and ethical POV) but this is all based on an assumption that Bitcoin will continue its remarkable growth. It’s this last point I think we need to consider with less hubris. For many Bitcoiners continued NgU is a near certainty (View 1); outsiders may not see it this way (View 2).
Have we discounted the possibility that View 2 (and associated capital flows) will dominate View 1? If so, is it ethical to expect and encourage people to have more than 1-3% of their wealth in Bitcoin?
If you are sure that Bitcoin is going to fail, then you can short it. If your trade goes wrong then you will have to buy it to close out your position!
Government as a service > taxation or fines & imprisonment
Yes. Zap to participate in v4v but also replenish your stack afterwards.
“Conflict resolution implies violence, but only in the physical realm. In the informational realm, conflict resolution needs to be done differently because information can never be scarce—it can only be secret.”
Earning more fiat (plus taking debt to invest in assets which do well in fiat land) is a hedge against Bitcoin failing.
Saving in Bitcoin is a hedge against fiat failing.
“…the Lightning Network’s interest income opportunity exists because a Satoshi provides a utility to the Network to facilitate the completion of payments. The more that our money is pegged to energy, the less we will look at innovations like Lightning that have utility as ironic and the more we will recognize these types of innovations as opportunities to unlearn what we thought we knew about money and that our income and savings should have always been pegged to energy.”
https://blog.encryptedenergy.com/lightnings-interest-income-opportunity-a-revolution-in-finance/
“Something must take the place of Treasuries. Lightning’s interest income without default risk is so revolutionary, that it can stand in as a legitimate and internationally credible default risk free rate of return.”
https://blog.encryptedenergy.com/lightnings-interest-income-opportunity-a-revolution-in-finance/
“Just like we need oil to move oil as cargo, Lightning needs Satoshis to move more Satoshis as cargo.”
https://blog.encryptedenergy.com/lightnings-interest-income-opportunity-a-revolution-in-finance/
“The Satoshi, an individual unit of Bitcoin, is the only digital commodity that has both finite scarcity AND a working utility. This is not a metaphysical assertion, it is the reality that powers the Lightning Network to be able to complete person to person payments.”
https://blog.encryptedenergy.com/lightnings-interest-income-opportunity-a-revolution-in-finance/
“High quality money does not need backing. Currency does.”
https://blog.encryptedenergy.com/lightnings-interest-income-opportunity-a-revolution-in-finance/