Good night from up north. Hope you are all warm with family as we end the year!

One day I'll start hunting for more old books. But I like the ones I do have.

I do love these types of projects. While they can seem small, the change that they can bring is noticeable by calling out a failure while showing that some perdicaments can be individually addressable by individuals caring for their place.

GM all!

Give us a picture of the inside to judge the quality. Outside just looks crusty and delicious.

I'm waiting for nostr:nprofile1qqsp4lsvwn3aw7zwh2f6tcl6249xa6cpj2x3yuu6azaysvncdqywxmgpz4mhxue69uhk2er9dchxummnw3ezumrpdejqzenhwden5te0ve5kcar9wghxummnw3ezuamfdejj7mnsw43rzun5d3ckxcfcwgmxzatev9mn2m34dqekcdf5xgexgmf5wde8jdty0fnx2ef5xcunven3v5u8xdn3va6kg6mnxajx5arxwvlkyun0v9jxxctnws7hgun4v5dpfm4n to do today's vlog as Ben Franklin reading The White Waper Introduction. Happy White Paper Day everyone!

Been there since those first batches, ain't gonna stop, next order is needed soon.

I have a theory that retirement accounts are a huge harm to local communities because it traps investment wealth in public markets for decades rather than letting people who have wealth to otherwise invest in real estate and businesses locally with immediate tax benefits to improve their community.

GM! At a different park than usual with the kids and there are people on broomsticks running around playing a surprisingly competitive game of quidditch in the athletic field.

GM! It's fires in the morning season!

Concept: Creation of an Opportunity Zone Fund that is structured to hold BTC not as a speculative asset but as the Working Capital under Safe Harbor and 90% Asset Test which would be used to get the equity portion of rehab projects.

This would be achieved through business construction loans through a service like Strike for a less than 18-month term where the proceeds from the BTC collateral would be fully allocated to a rehab project and would be repaid at refinancing to a perm loan or sale.

These loan funds and any additional funds generated through the refinance or sale of an individual asset would be rolled back into the Fund’s BTC balance and immediately be fully deployed as collateral for the next rehab project.

Following 10 years of operations the Fund can step up the basis of assets within the Fund and disburse the gains to the Fund’s investors. Since the Fund holds only BTC as its cash equivalent for working capital for collateral loans, the BTC would be distributed back to the investors at the time of dissolution of the Fund.

Putting this out into the universe because as a real estate guy you realize there are more opportunities out there than people to compete with and cities need entrepreneurs doing this work so it’s win-win for all of us.

Disclaimer: This is a thought exercise that in no way constitutes financial or tax advice.

Thesis: Bitcoiners care about their local community and want to improve it in a way that doesn’t jeopardize their stack. Some may find that for other reasons they need to sell a portion of their stack and recognize capital gains.

In the US, there is a tax structure for individuals to take capital gains and push them into physical real estate located within Opportunity Zones. In many communities, the downtown area is within an opportunity zone. By holding assets in the Fund for 10 years the individuals can recognize the step-up on a basis and sell the properties with a dramatically diminished tax liability.

Mine was finance, real estate and then Bitcoin. It's hard when you finally unsubscribe because you have heard the story a thousand times.

If you are looking for a deranged audiobook I might recommend Dungeon Crawler Carl. It's like listening to an old school radio drama.

https://soundbooththeater.com/shop/audiobooks/dungeon-crawler-carl-book-1-episode-1-thank-you-for-volunteering-immersion-tunnel/

Mine was finance, real estate and then Bitcoin. It's hard when you finally unsubscribe because you have heard the story a thousand times.

If you are looking for a deranged audiobook I might recommend Dungeon Crawler Carl. It's like listening to an old school radio drama.

https://soundbooththeater.com/shop/audiobooks/dungeon-crawler-carl-book-1-episode-1-thank-you-for-volunteering-immersion-tunnel/

I love this time of year when the morning light plays on the painting. GM all.

Work on building up your community wherever you are today.

GM prisms in windows leave the best surprises on your wall.

I'm working on a project demolishing most of mine and rebuilding it mainly with lots of apartments and townhomes. Will have life again but not like Gruen envisioned.

At least for property taxes you get local services like:

-Police

-Fire Dept

-Schools

-Library

-Public Parks

-Drinking water and sewage disposal

-1-2 potholes on your street filled

Is it always run well, no but you can hold local services accountable locally in a way you can't at the State and Federal level with income taxes that have a less clear value to your daily life.

Don't believe them when they say Proof of Stock is superior...

Video of the process please. Wondering how tricky it actually is.

GM all!

Something something following rules.

Find a successful restaurant you love in your home town with a Boomer owner looking to retire. Buy it from them with seller financing using fiat terms, use a Strike loan for the equity you bring to the table, and pay off your Strike loan using only net revenues.

1. Keep your BTC

2. Preserve a successful local restaurant for your community

3. Avoid the start-up restaurant failure rate by buying a profitable business

4. Get that best table in the restaurant every time

The challenge here is that you reinforce the spiral. There are indeed communities with levy rates of 18-25%+ but it is generally a sign the community is financially insolvent. The individual and community incentives are in conflict.

While I agree with the sentiment that demonetizing residential real estate is important for long-term affordability, folks need to understand that the way your community funds it's fire, police, parks and schools is through a local property tax levied on the fiat value of a home.

Cratering fiat housing prices mean cratering local public services. We only want the demonetization to occur when measured in BTC because we haven't solved how to fund public community services in another way yet.

In the end of their conversation, Pete is struggling with the impacts of a national approach upon his community of Bedford. It reminded me of this passage from Chuck Marohn's book, Strong Towns.

Pete's actions in focusing his attention upon making a successful Market Street is the first step in a successful neighborhood and a prosperous city. "A strong and stable state is an assembly of strong and stable cities"

Stay humble, and build Bedford.

A great reason to make a glass of wine half empty! Hope that your day went well and that your dinner might include such a libation should you wish it, mine would be a bourbon and soda.

When municipalities are captive not only to the fiat induced incentive system but also the growth Ponzi scheme development pattern, you eventually get to a point where it becomes hard to obscure the challenges faced in a community as it has less flexibility to respond locally.

https://www.strongtowns.org/journal/2011/6/13/the-growth-ponzi-scheme-part-1.html

Just as finding Bitcoin opens your eyes, so does finding Strong Towns and understanding the development mess we have made for ourselves through the over-promising made by prior generations.

Strong towns are resilient. They don’t bet everything on federal money and fragile systems. They grow from the bottom up, incrementally, with a feedback loop between public investment and community value. They don’t build for prestige. They build for people.

~Chuck Marohn