For the record, public spending in China is 33%-ish of the GDP. In France, it's 60%-ish and in other EU countries around 40%. And 18% in Taiwan.

Who's the communist? nostr:note1xtr7alhs4c7s4rpvvvd9fv64r22wnqr3nvaclqyv66gl2aucw69ssl62za

Yeah I mean two banks I use(d) in Spain suddenly stopped allowing me

to send money to a centralized exchange, after years of doing it.

When I called them to ask for an explanation they said it was to protect me from scams. To which I obviously replied with a bunch of expletives.

It's ironic, because they did in fact manage to protect me from scams, i.e. they prevented me from transacting through them anymore, and forced me to increase my use of P2P.

But as I mention in the other note, places like Bisq sometimes have too little liquidity, unreasonable offers, or simply no offers that match my verified payment methods. So I just suck it up and pay the credit card commission to buy on a centralized exchange.

Or maybe fuck them all and really, just use Bisq, which is quite simple and has never once given me any sort of problem.

It's also good to do it now, and to use a variety of transaction methods (bank transfer, Wise in several different currencies, Amazon Vouchers, etc), so you're verified/validated with each method, so when the real time of need comes, you have more options and higher volumes available.

Granted, sometimes people on the P2P exchanges have absurd and unrealistic expectations to get some crazy premiums above the market. But that is solved by having more people, more liquidity and more volume, so the market can act.

Well, the central bank thing is just the latest guidelines from the Bank for International Settlements, issued before there were ETFs and before states started to stealth their way into BTC mining and hoarding.

If they find that BTC is "too volatile" to the upside, they will simply amend the guideline to allow for a higher %, or to give it a boom value only equivalent to the one they bought at or whatever other trickery they come up with, at their convenience.

And as far as downside goes, same thing, but I think the fact that central banks themselves hold BTC will be an anchor to eliminate a lot of the volatility *once we reach a large enough market cap*.

Your daily reminder to use Bisq to catch those peer to peer sats while you can.

At this rate, the main benefit of such decentralized P2P exchanges won't even be the non-KYC, which is relative since one way or another the cash you're most likely using comes from and goes to a KYC government-controlled money handler and the trail is there. It will he the simple ability to buy whenever you want, as much as you can. nostr:note1ecdg2jsm3333uugw0wwwqtw7vzkpc6jn0ad24aa2e504vq7n4ezqewrfg0

How the fuck is shit like this legal and why is it not challenged in the courts?

(I'm not even talking about Australia specifically, this sort of arbitrary shit happens everywhere).

I can tell you one thing though. I am from and currently live in a Western European country.

So if I have to choose between the two evils to spend my final years or maybe retire early and live my life in peace, I will still pick Singapore, where I would have severely reduced freedom of speech and other political freedoms, rather than a place where I am a literal slave (>50% confiscation of my labor every year).

What do we know, though.

Precisely yesterday I looked at that chart and yeah, we're totally off, but it may just be because we're like 8 months early.

I personally expected the cycle to expire around the time we reached gold's market cap, and I imagined that to happen around 2033. But I didn't expect the ETFs to have such effect as we're seeing.

I wonder how large the ETFs can become in fiat terms, and how many of us are true psycho hodlers who will simply not give up their BTC to Larry and his criminal gang. If we keep constraining supply like this, we may end up skipping one cycle.

Now sovereign funds will be able to discreetly buy BTC through US-regulated ETFs, or set up their own after the Big Boss has legitimized them.

And let's remember that as of Jan 1, 2025 central banks will have the legal power to keep up to 2% of their balance sheets in "crypto" too....

Best and most financially productive five years of my life and serious top 5 candidate in my list of potential retirement locations. Looks like I'm taking it out of said list.

I'm interested in this spectacular deal. Do they accept Ethereum?

What I mean is STACK LIKE A PSYCHOPATH & NEVER SELL. nostr:note1yug9eq7myl6l5cg9tpk7svrxczuyfq8pcglpcnxhsem9jjghsrzqms4u4w

I seriously think that with the ETFs and Big Money's irruption, and retail's generally speaking battered economy -- double digit real inflation for four years, real estate bubble, historically high credit card debt, interest rates and difficulty to access favorable credit conditions... -- the 4 year cycle may be broken this time, and those applying the same strategies (staking, ride up, sell the top, wait for a 70% crash, accumulate again) are in for a very bitter surprise.

Dude 48 s/vB for LOW priority?

12k imminent.

As time passes and BTC consolidates as a real asset that normies understand isn't going away anytime soon, so does my conviction (and I would say objective evidence) that BTC solves the store of value problem that the invention of modern fiat money created.

Backing fiat with debt instead of real assets causes central bank/government money to lose its function as store of value because of its continuous debasement, which is a form of stealthily taxing citizens.

But it does not cause it to lose its function as currency - the thing people use to keep track of prices and to pay for goods and services. I would argue that as long as inflation/debasement is not in the hyperinflation range, fiat works perfectly well as currency in fact, and the actual problem is the former loss of the store of value function.

BTC solves the real problem, yet some bitcoiners insist on using it to solves the second one, which is not a problem.

In the end, the market and the laws of economy (which are simply the laws of human psychology) will inexorably prevail. Just like no coiners who are either unable or unwilling to accept BTC as store of value will eventually either come around, or be pauperized, those who insist on misusing as simply currency the perfect store of value, will come to regret it.

If you're not one of the very early people who basically got BTC for free by mining on their home computers or at fiat-denominated prices tens or hundreds of times lower than the current ones (which are at least one order of magnitude lower than the ones we're about to see), I urge to think twice before listening to all these people who are so adamant that YOU spend YOUR BTC.

If you take a close look at them, you'll probably find that they fit the description I just wrote. Just like we all have to understand that people like Michael Saylor are playing a completely different game than any other bitcoiner, so are these people who can afford to squander their BTC but irresponsibly (to be charitative) ask you to do the same.

GM sir

Yo , nostriches. Been a couple of months, of which one and some was very well spent relaxing in Japan. Obviously it took me going off the grid for the corn to start popping. Thank me later.

Related: Any advice re: corn-backed loans? Looking at Unchained but the APR is bonkers. Like, usury-level BONKERS.

#AskNostr #ask_Nostr

GM.

In Japan, it's the little convenient things. (I'm sure this #coffeechain exists elsewhere - just not where I'm from).

And just today, an airplane taking relief supplies has crashed at Haneda :/