Probably not normal, but I do basically the same thing! Lol.

#[1]​ - Thank you for all that you do to advance this space. 🙏

Is it normal that I listened to pretty much every single podcast that #[0] did and that I do a YT search for him every week to see if he did a new pod?

Surely Paul Krugman hasn’t got it wrong again right? Right!? 😂

Too many people have given Elon a pass. Don't give him a pass.

He's a marketer, not a founder or an engineer. He didn't found PayPal or Tesla; he bought into them early. He's good at selling narratives and equity valuation for perpetually unprofitable companies.

Everything for him is a narrative. His green revolution was a narrative to sell more cars and get more subsidies. His bitcoin purchase was to gain appeal among bitcoin/crypto people in a bull market. And he shilled doge like a dumbass. His SpaceX narrative is to get money from the government.

His rooftop solar thing was an outright scam; the technology isn't ready and went nowhere because of that. His full-self-driving-in-an-intermediate-term timeline was a scam, and is going nowhere because of that. He makes scams to draw people and capital in, because for him it's all about narratives and equity valuation.

And then he dug unproductive holes, suggested unproductive hyper-tubes, built meme flamethrowers, for what? It's a narrative, not a business. None of this is real productive shit to make peoples' lives better.

His latest "we need free speech" narrative was a scam too. He tapped into something real, which is what marketers do and why it kind of worked. Yes, we need free speech. Yes, Twitter had censorship issues. He saw that and jumped on it maliciously rather than productively.

But what did he replace it with? He replaced it with arbitrary journalist censorship about his private jet, arbitrary censorship of Substack, selective Twitter Files release, won't talk seriously about any of his China connections because Xi Jinping fucking owns him economically there like Jack Ma, has his balls firmly in his grasp, etc.

Elon's playing the narrative, the anti-woke meme of the day. He's a master meme-momentum-player. Don't fall for it.

H/T to #[0]​ for planting the seed of this idea in my head

#[1]

Good point. I love listening to your interviews. It would be great to hear you and Mr. Musk have a discussion. I’m here on Nostr because of you and I just checked out the zapping function. Very exciting!

Hello world. I’m new here. Migrating from Twitter. My man Jeff Booth brought me here. Nostr was inevitable. Can’t wait to look back at my first post in 30+ years time. I go by “The Apex Asset” which is #bitcoin. Now how do I get on some relay jaunts? #introductions

You can sustain a fiat system so long as your nominal tax revenue always grows faster than your nominal debt servicing cost.

If your nominal debt servicing cost is growing faster than your nominal tax revenue then you in a Malthusian catastrophe and your currency will eventually be debased to zero.

We currently have high inflation by design because it reduces the debt/GDP ratio and eases the burden of servicing the debt.

This isn’t an easy thing to do, because it means bondholders are losing purchasing power whilst it goes on. If they sell off it forces you to print more as buyer of last resort and you can actually blow yourself up.

So there’s a fine line, but Fed are trying to walk it. What else are they to do?

Meanwhile, commodities will inflate and you don’t want to be stuck in fiat denominated instruments during these inflationary debt/GDP realignments.

I totally agree with you Jeff! It’s really sad that people get hurt in the process. Ultimately truth wins. Ultimately true value wins.

I'll be honest, this sounds like a Luddite argument. Yeah, we'll lose jobs. And if history is any indication, we will gain new jobs, eliminate repetitive work, quality of life will go up, and prices will fall.

The major problem is the unpredictability of prices.

20 years ago it was promised that, by now, higher education would be free. Instead, you can get the education for free, but the degree will cost the median yearly income, annually.

You now have a supercomputer in your pocket and can have a chocolate cake delivered to you in 30 minutes.

You can get half of your joints replaced with titanium, and treatments for diseases that have killed hundreds of millions of people in the last century.

In five years you'll have an online boyfriend/girlfriend who is an amalgam of every trait you desire.

So quality of life is improving massively.

Prices seem to fall relative to wages for most things EXCEPT those things which people compete for which provide stability, predictability, opportunity, etc (college degrees, housing, #bitcoin). Built into the price is the knowledge of inflationary loss (housing prices bid up as people see a 7 percent mortgage as a hedge against potentially higher inflation).

I’m still scratching my head with this nostr. I need to understand more on how this works.

Thanks. IYO How can individuals accelerate adoption within their local communities? Part of me wants to host BTCPayServer at no cost for all businesses in my community to help and eliminate any cost objections they might have to adopt a Bitcoin standard. Would love to hear what others are doing as well.

It is hard to understand, yes. How can the marginal cost of living become 0? There is always some sort of minimum energy required to produce something, even if everything is done by machines/AI. And if it’s not 0 how do the many people that have no jobs afford even the cheapest necessities. The only option I see is UBI. But where will that come from? What do I not understand/see that you do?

Jeff - How do you think we get more businesses to accept payments in Bitcoin? There is such a steep learning curve that it takes years sometimes for the average person to understand it, especially when they aren’t deep into Bitcoin Twitter/NOSTR drinking from the firehouse of knowledge. Do we just have to accept the fact the sales process is extremely long?

#[0] is a treasure.