Ah, the good old law of unintended consequences!
“Bitcoin is an accumulation game, but spending your Bitcoin within the Bitcoin system is a good thing. That's how you reinforce the use of Bitcoin as a means of payment or exchange. And that's the most important thing.”
https://inbitcoinwetrust.substack.com/p/spend-and-replace-your-bitcoin-is
“In politics and in life, those in positions of power often engage in rhetoric and topics that are actually a distraction from the real issues average citizens face.”
“The title of the Bitcoin white paper spoke about ‘a peer-to-peer electronic cash system’ — yet the P2P industry is under attack from international powers who feed off centralized fiat currencies and the control they wield,” Youssef said. “At the same time, billions of people have been relegated to non-existence by this failed system. Bitcoin is the solution and we’re not backing down.”
“The company could have saved itself a giant headache by building in robust data record-keeping from the start, she says. Instead, it is common in the AI industry to build data sets for AI models by scraping the web indiscriminately and then outsourcing the work of removing duplicates or irrelevant data points, filtering unwanted things, and fixing typos. These methods, and the sheer size of the data set, mean tech companies tend to have a very limited understanding of what has gone into training their models.
Tech companies don’t document how they collect or annotate AI training data and don’t even tend to know what’s in the data set, says Nithya Sambasivan, a former research scientist at Google and an entrepreneur who has studied AI’s data practices.”
Yeah, yeah, yeah. Toe falling off, blah, blah, blah. Did you tell him about #Bitcoin? 🤣
Whether it’s a dystopian future or a utopian one or something beyond most predictions we can at least try to move forward with integrity and optimism. nostr:note1ad00z0mt4uzug5z0apqhdz9le0zyyxxg77kkr63vpwtth22nu03qrp0g79
#[0] please create a nip-23 URL for
https://protos.com/explained-civ-kit-the-nostr-marketplace-created-by-bitcoin-devs/
Is the market completely irrational in assigning a non-zero price to “nothing in particular”?
“Bitcoin is a tool of international, non-violent economic revolution against corruption. Bitcoin strikes at the heart of corporate and governmental theft from our families, of our labor, our property and our intellect.”
“…I am now convinced that political and economic reform cannot succeed peacefully without Bitcoin. For the first time in history, Bitcoin offers a non-violent path to stable and increasing value of our labor, in all of its forms…”
“We ran simulations for the traditional 60/40 portfolio (US equities and bonds) as a benchmark, comparing it to our own 60/39/1 portfolio which included 1% of Bitcoin at the expense of bonds. This shows an excess return of 10.58% (1.32% annualized) over the backtest period (2015-2022). Most notable is the increase in risk-adjusted returns: the Sharpe ratio improves from 0.604 to 0.664 while the maximum drawdown hardly changes. Although an improvement, the 60/39/1 portfolio still underperformed the level of M2 debasement over the period by 4%.”
“By denominating returns in a representative measure of money supply, such as M2/M3 or central-bank balance sheets, one can get a true sense of whether assets have long-term store-of-value properties in the face of debasement. In the relatively short period since 2018, Bitcoin and US technology stocks have been the only assets serving as effective hedges against massive increases in the monetary base.”
“The problem with measuring nominal returns of assets is that it obfuscates debasement by monetary inflation. In a fiat system, the monetary base via private credit and central-bank balance sheets must continually expand to ensure the nominal value of collateral backing debt in the system also rises. Sustained periods of nominal price declines (deflation) would ultimately collapse the entire system.”
I think most people understand that fiat money does not hold its value. If income > expenditure, people can store their value in real estate and the stock market.
Unfortunately, most people aren’t perturbed enough about the implications of such inflation hedges:
- the rich get richer, the poor get poorer
- you are trapped within the system (property taxes, property is illiquid. Investing in the stock market enforces group-think, strengthens the relationship between corporations and the state at the expense of personal freedom)
“The stability of any financial system hinges on its ability to absorb losses without recourse to taxpayers’ money. The brief instability in the United Kingdom’s gilt market last fall and the recent banking turbulence in the United States underscore that significant vulnerabilities exist both among banks and nonbank financial intermediaries. In both cases, financial and monetary authorities took quick and strong action and, so far, have prevented further instability.”
“The personal animosity between MBS and US President Joe Biden has been widely known for some time. However, many energy market participants are nonetheless underestimating the prospect of a true and lasting rupture in the relationship between the world’s dominant military superpower and its global swing producer of oil.”
https://doomberg.substack.com/p/uniting-states?utm_medium=email
“Commodity” and “security” are part of the nomenclature of the establishment.
Let’s think and act outside of the framework of the opponents of p2p culture.
“After more than a decade of studying the intricacies of social media from the inside and out, I just felt tired of the structures and habits they program into us. Are relationships made of likes from family members, birthday wishes from strangers, and retweets from long-lost colleagues? Or is this stuff just something that was invented all those years ago? The shame is that these tools are so convenient and addictive that, at times, they can start to replace the real thing.”