nostr:npub173se9w9ehcd58lpsagnu0jckyy9wmctj22e6495jlwel9ws4xxvsysnvgw - yes.

hugs from BC.

If measuring price of #Bitcoin going up in USD, and spending in USD, the 2nd layer is USD or stablecoins pegged to it.

Ie - by only focusing on store of value and thinking it’s going up (their money is going down) the 2nd layer centralizes and paper bitcoin will be used to keep existing power structure. Massive incentives here including many #Bitcoiners cheering price go up/don’t spend your bitcoin playing into that consolidation.

Existing system requires inflation to remain solvent.

Bitcoin system forces productivity gains to all of society through the free market.

If you knew you that it was too late to stop layer 1, + layer 2 was emerging (native to Bitcoin) and then calculated that unless stopped, Bitcoin would be on path to be medium of exchange that would remove your ability to finance your control structure….what would you do?

IMO - It either becomes a medium of exchange (and market/political incentives are misaligned here) or ceases to be a good store of value. (Over the long term)

I went deep on this topic on an upcoming podcast that Saif is releasing.

Great book - Power versus force equally good.

How could a store of value survive as a store of value if everyone was using a medium of exchange that obfuscated its store of value?

Pressed send before finishing….. the high likelyhood of the greater game.

If most of the money of the last 30 years has been made through financialization of assets in a system that manipulates money that steals from you, then it must mean that those at the top of that game are the very best at it.

Probably completely unrelated - I heard a rumour that Jamie Dimon and a bunch of others like #Bitcoin now.

It would be wise to understand

🙏

🙏

Welcome George!!

Welcome to #Nostr! I think you’ll enjoy it here.

Exactly - Bitcoin is a protocol bounded by energy that is coming in layers driven by the free market. Interoperability layer is lightning and then Fedimint/ecash - completely private with different trade offs. The combinatory nature of these + nostr in this protocol stack gives something that is very early in scaling, but beautiful and impossible to stop.

Happy to chat more!

Bring your clients over 😉.

I realize that network effect are strong (similar to US dollar) and how hard that is. So everyone stays and everyone markets themselves in the same fashion while getting less return on their time. (Because everyone is doin the same thing)

FYI - In time, there will be FAR more value here and you being early on #Nostr and creating that value with other early users will lead (eventually) to your clients seeing you as a thought leader.

Add an lnurl so you can get zaps.

Spending time, meeting others building or contributing, seeing the opportunities from that interaction, investing your time or capital helping. Even your presence and interactions on Nostr is helping.

Get an lnurl in your profile so you can accept zaps.

They also learned a lot through that process (to not repeat) and have created an incredible company in the #Bitcoin mining/ energy infrastructure space.

Good enough is what is right for you. It sounds like you are already on well on your way. You’re even early to #Nostr. For me, I found that as I spent more time in the ecosystem, it was like a mirror reflection back to me of what society would look like on an honest protocol….so I kept going.

Congrats Jack! Huge win for Core, Block and the entire ecosystem by adding another tier 1 chip provider. nostr:note1a4xnvycztdmsvjkw8fxp49kzzrgl0wf7pr769ckh7lmc3e83mh7su7e7x9

1) If the free market is deflationary…..Ie - prices are supposed to fall…..then…what is a “stable” coin?

2) A “coin” that gains it “stability” by losing value at the exact same rate as a currency.

3) Which is by very definition, the system that we have today that stops the free market by manipulating money.

Hope that helps.

Thanks Tankred and happy to connect anytime to go deeper. I agree that stable coins will be preferred (because most people don’t understand the game and will sacrifice short term for long term and the big money is in that game - so the incentives are too). That in itself - a stable coin is guaranteed to lose value to bitcoin at the same rate as currencies - will consolidate L2 and then provide an attack vector through a highly centralizing force with AI to essentially play the same game as humans have played throughout time. Prisoners dilemma through extraction and control. Could see the attack coming from a mile away because it was necessary to maintain the control structure. As store of value, Bitcoin would look like gold today, and then be suppressed through layer 2. In other words, for bitcoin to bring truth, hope and abundance to our world, it MUST also be used as a medium of exchange.

That’s the game I’m playing and the stakes are very high!!