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Bitcoin Tech Talk #349
## Evaluating Your Desires
In our experiences, often we find ourselves desiring for something before we can articulate why we crave it. This is a significant reality to recognize: our desires, in their initial stages, are fundamentally mystifying to us. As such, it is of paramount importance to not place undue trust in our immediate justifications for our wants.
This enigmatic interim, the span between the birth of a desire and the formation of an explanation for it, is the fertile ground where rationalization plants its seeds. As humans, we are inherently prone to self-deception. Invariably, we gravitate towards attributing our desires to the most noble reasons we can conceive, rather than confronting the more authentic, and often less flattering, root causes.
Unfortunately, this tendency paints an inaccurately virtuous picture of our motivations, leading us astray. Ignoring our true desires for the sake of preserving self-image may result in decisions that ultimately do not satisfy us or align with our real values and goals. Thus, it is crucial to question and evaluate our desires honestly, rather than accepting them at face value. Recognize that our first explanation for a desire may not be the most truthful one. Cultivate introspection and seek self-awareness to better understand what truly drives your wants and needs lest you become a narcissistic prick.
I trust AI more than news organizations.
Beyond Cope
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It's a widespread habit. We stumble upon a problem, and instead of looking inward for solutions, we blame something else. The person struggling with weight issues pins it on a medical condition, while the unambitious Millenial claims he hasn't found his true calling yet. The woman stagnating in her career accuses a boss of harboring jealousy.
These are instances of 'coping', a contemporary term for constructing narratives that bypass our shortcomings. We skillfully dodge the actual issue at hand, that the lion's share of our problems are rooted in deficiencies in our virtue.
When we cope, we're just hitting the snooze button on the wake-up call to improve ourselves. Addressing our lack of virtue and improving our character is a tough pill to swallow, but it's the real medicine we need.
The way out of this cycle isn't found on the outside; it's an inside job. We need to face the music, quit the coping, and start growing. It's about putting in the sweat equity, building mental muscle, and sticking to the truth, no matter how inconvenient.
This workout isn't for the faint-hearted. It's about squaring up to our flaws, and going all-in to better ourselves. Yes, it's a grind, but the payoff is worth it. And it'll make for a much better story later.
It's All for Show
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The present reality is undeniably clear: today's society is dominated by a paradigm where everything is crafted for the TV screen. Press conferences at the White House, Senate hearings, and short-form interviews have all transformed into staged performances, diluting the essence of rigorous debate.
Participants in this arena engage in a relentless battle of words, each vying to outscore their counterparts. But the true casualty here is the dialectic, usurped by a power game that has moved the goal post from serving the public good to merely outshining the opponent.
This spectacle doesn't measure damage in terms of the impact of policies on the common man or the nation's future. Instead, the new game's currency is personal reputation, influence, and the ability to spin narratives. This reality has pushed us into a Nietzschean era where the most cunning manipulator invariably prevails.
In this unsettling shift, we must ask: What happens to virtues like prudence, courage and temperance? Do power games overshadow the real-world implications of policies and decisions? When governance becomes a performance act for the cameras, does it not belittle serious policy discussions into mere exercises in point scoring?
In the face of these stark realities, it is absolutely essential to refocus on what governance should be: serving the people and making decisions that propel society forward. Sadly, the monetary realities of the fiat monetary system disincentivize reform. Until the money is fixed, governance will continue to be a shallow spectacle, devoid of true substance and lasting impact.
Stop Asking for Permission
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When we speak of permission, it inherently implies the existence of an authority - a figure, system, or rule that has the power to permit or deny. In many contexts, this notion is necessary. An army has little chance of succeeding without some chain of command. However, when it comes to one's personal agency and creative expression, the seeking permission is a barrier to the free flow of ideas, innovation and entrepreneurship - the very things that build civilization.
By its very nature, creativity is unrestricted and boundary-less. It thrives in environments that encourage spontaneity and exploration, where the fear of crossing lines or breaking rules is absent. However, if you find yourself constantly asking for permission, you unintentionally erect mental barriers that hinder the birth of novel thoughts and actions.
Asking permission from an authority unrelated to your creative pursuit is an affront to your agency. It can subtly suggest that you don't have the right, capability, or knowledge to make decisions about your own work, thereby undermining your autonomy.
Yet, this is not to advocate for reckless abandon or uncontrolled chaos. There's a balance to be struck. Knowing when to ask for guidance and when to trust your own judgment is a critical part of maturation, growth and development. However, the seed of any creative process must be allowed to germinate in the fertile ground of personal agency, unhampered by external dictates.
The magic of creativity truly manifests when you free yourself from the shackles of constant permission-seeking. When you ungate your mind, you invite a broader spectrum of ideas, enabling the birth of concepts that may have otherwise been deemed unattainable or unconventional. Unshackle yourself from the need for permission so that you can be creative and free.
Under centralized governance, law degenerates and becomes arbitrary, political, and unjust. Power resides with those at the top, who act according to their own vision. As atheistic principles take hold, nihilism flourishes and chaos reigns. This form of governance is imposed from the top down, enforced by a small group that considers itself superior in wisdom and understanding. In such a system, reality is overlooked in favor of ideology, often leading to truly disastrous outcomes.
Conversely, under decentralized governance, natural law takes precedence. This bottom-up, emergent system is stable, rarely undergoing significant changes. There's a broader agreement on moral concepts of right and wrong since individual consciences are largely similar across society. In this system, reality and truth take center stage because decisions aren't imposed universally but are instead made on an individual basis.
Decentralization encourages us to return to our own conscience rather than adhere to someone else's ideal of what society ought to be. In essence, it brings us back to reality, to truth, to God.
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Bitcoin Tech Talk #348
The Disruptive Impact of Inflation on the Economy
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Inflation, the general increase in prices and fall in the purchasing value of money, is a common economic phenomenon. But beyond the typical consumer concerns about rising costs of living, inflation can have profound, disruptive effects on the economy. One of the significant ways it creates economic disturbances involves its impact on contracts, particularly those that extend over a long duration.
When businesses enter into contracts, they are making an agreement to supply a specific good or service at a pre-determined price over a stipulated period. These agreements are typically made based on prevailing market conditions. However, long-term contracts don't account for inflationary changes that could happen in the future, potentially making them unprofitable.
In a stable economic environment, both parties in the contract would have a balanced and mutually beneficial agreement. The supplier would be incentivized to provide quality goods or services promptly, maintaining good customer relations, and ensuring profitability. However, in an inflationary environment, the costs associated with fulfilling these contracts—such as raw materials, labor, transportation—may increase significantly. If the prices set in the contract do not reflect these increased costs, the contract becomes unprofitable for the supplier.
Faced with an unprofitable situation, suppliers often resort to strategies that inevitably cause disruptions in the provision of goods and services. For instance, they might prioritize orders from newer, more profitable customers, which results in delays for those locked into older, less profitable contracts. Consequently, the fulfillment of contracts becomes a question of profitability rather than commitment, significantly impacting businesses that rely on these goods or services for their operations.
Another common response to unprofitable contracts is providing substandard goods or services. Suppliers might opt to cut corners in quality to save costs, essentially fulfilling the contract in letter but not in spirit. This practice not only compromises the quality of products available in the market but also damages the reputation of businesses and erodes trust, which is a crucial element in commerce.
Furthermore, suppliers might look for ways to renegotiate the terms of the contract to reflect the new economic realities, leading to delays and uncertainty. In some cases, they may even consider breaking the contract if renegotiation fails or if the costs of breaching the agreement are less than the losses they would incur by fulfilling it. This, again, creates economic disruptions, undermines the sanctity of contracts, and instigates legal issues.
The cascade effect of these disruptions is significant. Delays and uncertainty in the supply chain can affect production and operations for businesses relying on these contracts. The provision of substandard goods or services lead to general debasement. Legal issues arising from broken contracts can consume time, money, and other resources. This uncertainty can deter businesses from making long-term plans and investments, which ultimately means that they instead focus on short-term band aids and don't really grow.
The problem is and has been the money. Debased products, delays and supply shortages are some of the consequences of this short-sighted policy.
This is why we Bitcoin.
The Double-Edged Sword of Efficiency
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As an engineer, I hold efficiency in high regard. I aim for punctuality, consistency, and above all, I strive to avoid waste.
However, efficiency has a counterpart - fragility. When a system is hyper-efficient, it loses its resilience to disruptions. Over the past half-century, cost management has leaned heavily on this notion of extreme efficiency. The surge in money printing, which should have led to inflation, was largely counterbalanced by the efficiency gains from centralization. However, this centralization has left us exposed and vulnerable, even granting undue power to foreign governments.
No one is fully self-sufficient or immune to these issues. While it may appear beneficial to have a "global community", it actually exacerbates the problem. It creates a myriad of single points of failure, where the entire system can come to a halt if certain conditions are met.
The solution lies in being slightly less efficient and leaning towards self-sufficiency over hyper-efficiency.
Fortunately, Bitcoin presents a viable solution. As deflation becomes normalized, businesses can shift from exploiting efficiencies to fostering innovation. This could lead to a constant disruption of industries, producing better products through genuine progress rather than scale management.
Growth Requires Change
--------------------------
You have two options: either you can adapt to the changes in society, or society can adjust to accommodate you.
Adults are supposed to change and adapt, as the surrounding environment is unpredictable and constantly shifting. This has been the practice of our ancestors for generations. It's only in the past century that there has been an increased expectation for society to conform to individual needs.
This shift has led many to feel entitled to permanence, to believe that their current state should remain unchanged indefinitely. The drive for personal growth and adaptation, the kind of entrepreneurial energy that thrives on change, is dwindling. In an unfortunate sense, people have become conservative, that is, resistant to change, focusing their efforts on preserving the status quo, even if it means forcing everything else to adjust.
This struggle is the conflict we see unfolding today. We often hear groups demanding others to change without considering the necessity of personal growth and adaptation. This is more than stagnation – it's a step backwards.
Embrace the Suck
We crave constant excitement and entertainment. We yearn for life to be an endless series of enjoyment. While these are what we desire, they are not what we need. What we truly need are skills, and gaining these doesn't always involve fun. Fun is instant gratification and immediate happiness, but they have a cost later on.
Focusing on fun is how we develop addictions. We seek immediate satisfaction, oblivious to the long-term consequences that could potentially ruin other aspects of life. Fun is inherently high time preference.
A mental shift towards maturity and responsibility involves learning to appreciate the initial unpleasantness of acquiring new skills - or as I prefer to call it, "embracing the suck". Trying to do something you're not skilled at isn't "fun". It's frustrating and demands considerable discipline. More than anything, it requires courage due to our inherent fear of monotony.
But there's no harm in boredom. In fact, it's the default state of life. Excitement is, and should be, the exception rather than the norm. By learning to manage boredom, you'll cultivate a much-needed trait - patience.
We demand immediate satisfaction because we are entitled brats. If we don't find fun in a task instantly, we tend to surrender. But that joy in doing something, that joy in being good rather than having fun takes years to develop. This requires a patient and mature mindset, one that prioritizes long-term gains over immediate satisfaction.
How to answer VCs and altcoiners during this time
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Venture capitalists and altcoin advocates: Why aren't you backing us in our struggle against the harsh measures imposed by the government?
Bitcoin supporters: Bitcoin was designed to be immune to government interference. You, however, presented yourselves as decentralized and hoped that the government would buy it. We have little sympathy for such foolishness.
Venture capitalists and altcoin advocates: Aren't you opposed to government authoritarianism?
Bitcoin supporters: Indeed, we are! That's the primary reason we choose Bitcoin. We value self-sovereignty and believe in being our own bank. We support individuals acting as their own banks, rather than alternative banks like altcoins and altcoin exchanges.
Venture capitalists and altcoin advocates: But we've contributed significantly to Bitcoin adoption! Shouldn't you back us for our efforts a decade ago?
Bitcoin supporters: That's not how it works. We support you when your actions are commendable. But we cease our support when your actions harm the cause. You don't get to rest on the laurels of what you did a decade ago. Frankly, the harm you've inflicted over the past 10 years far outweighs any previous benefit.
Venture capitalists and altcoin advocates: You should still support us! Otherwise, they might target you next!
Bitcoin supporters: That remains to be seen. For one, Bitcoin doesn't have an obvious target. There's no central foundation or entity that conducted the coin offering. Moreover, Bitcoin was designed to withstand governmental assaults. Just because you're crumbling under such an attack doesn't mean we will. In fact, we believe we'll fare much better, and such an attack might finally make it clear to people that Bitcoin and "crypto" aren't synonymous.
Venture capitalists and altcoin advocates: You're being incredibly toxic.
Bitcoin supporters: To you and other forms of centralized currency, indeed, we are.
Pension bailouts are coming.
Many are from public employee unions which are pseudo government entities anyway and reliably vote for the expansion of the state and state power. Their pensions are in trouble and guess what? They're gonna get bailouts.
It'll be sold as something compassionate. They'll trot out some old people telling sad stories. And they'll get it because these old people want their money.
This will massively inflate the currency and it'll cause prices to soar. Because unlike normal monetary expansion, this money will get spent right away. Which of course means that they're going to have to raise the salaries of those in government again.
On and on and on until we have hyperinflation.
I don't know when this will happen but the game theory is inevitable.
The IFO stuff is a psyop.
Fight me.
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#Bitcoin Tech Talk #347
Imitation can be an amazing thing. When we imitate virtue, we become more virtuous. It can also be really bad because the same can be said of vice.
But generally people will imitate what they perceive to be successful for climbing in status. Thus, a poorly incentivized system will make all society degrade and a well incentivized system will make society much better.
Fiat money is the wrong incentive at all levels.
Taxes are a way for politicians to virtue signal.
They used to be for revenue, but when you can steal from peoples' savings, taxes become a lot more sinister and are used to modify behavior. The main behavioral change is to make the populace compliant.
You don't get to define words however you want. That's not equality, that's just delusion.