https://www.twitch.tv/BitcoinTVChannel

https://satellite.earth/n/seasteading/

There has been a lot of pessimism around Seasteading technology in recent years, and this sub aims to change that. Even some of the traditional seasteading community's leadership (Patri Friedman & Peter Thiel, to name a couple) would rather invest their money & mindshare in the land-based charter cities, (https://www.bloomberg.com/news/articles/2021-03-27/prospera-in-honduras-a-private-tech-city-now-open-for-business) under government permission, than to continue working on the only sane branch of research into true freedom & startup societies.

Right now, today, should be the most exciting time to be a seasteader! In recent years we've had an explosion of 3D printing technology worldwide, which makes fabricating most of what we need for daily life aboard a seastead nearly effortless. The problem of where to get most of our 'stuff' is solved with a simply $170 printer and spools of plastic. Then there's the 3 traditional problems holding seasteading back, but as of 2021, all 3 have solid, available, technical solutions for the first time in history!

These 3 tech problems were:

* Income Generation

* Power Generation

* Internet Connection

For the sake of this post please consider older technical problems like miniaturized Spar technology fully solved. Elwar's XLII proved spar tech on a single-family home scale, and if we simply put a bunch of those spars under a seasteading city, reliable flotation won't be a problem. Desalinization and even food farming in the deep (https://atlasofthefuture.org/project/aquapod-fish-farm) are also being done at large scale industrially already, but the 3 big tech problems above seemed too daunting for many seasteaders until this year. -And we have Satoshi Nakamoto & Elon Musk to thank for them being solved today.

Generating Income

Income Generation was the biggest showstopper we had. You'll find many threads on the old seaasteading forum talking about it. It's not enough to just fish and farm what we eat out there; who wants to work every day and still be basically poor? We needed a solution to power international trade... To make us so profitable, in fact, that we can become a rich, desirable place and attract tourists for even more trade.

Well it turns out that seasteaders have had the perfect technology to do exactly that for years now and few have even considered it. It's called Bitcoin Mining.

It turns out that bitcoin mining is the best tech in the world - by far - for capturing stranded energy and turning it into money. This in turn incentivizes more Solar and Wind power. What will we be making out there if not stranded energy?

Also important for seasteading; Mining rigs put off a lot of heat that is perfect for Desalinizing water! All we'd need to do is design a water-tight enclosure to catch the mining rig's heat in a pipe that seawater moves through, and steam will pour out the other end on an industrial scale! This tech was simply tailor-made for our needs.

Of course to power all those energy-hungry mining rigs we'd need to solve the #2 problem:

Power Generation

Generating electricity is something that many of us have imagined each rooftop would do via solar panels &/or windmills to power the home below it. And that still may be the case, but there are many energy needs in a city that require far more power. Clearly we'd need larger platforms to catch far more photons. Arrays like this one (https://interestingengineering.com/hurricane-resistant-floating-solar-farm-lower-fossil-fuel) are a perfect test pilot for generating more energy than rooftops ever could and powering not just factories, but the bitcoin mining plant as well. Windmill farms at sea were already practical for the small scale (https://www.greentechmedia.com/articles/read/so-what-exactly-floating-offshore-wind) and can help displace the energy deficiency from a lack of photons at night. OTEC plants (thermal energy) are currently operating (https://en.wikipedia.org/wiki/Ocean_thermal_energy_conversion) in most every large body of water now as well, and those never stop generating energy around the clock. Where oil isn't readily available, imagine a small city powered by all three.

Tesla's solar panels (https://www.tesla.com/solarpanels) and powerwall (https://www.tesla.com/powerwall) batteries are the key, IMHO, to making all of this varied energy affordable. They're already set up to take photons from your roof as well as grid energy and store them while they're abundant to use when you need them. Our needs are exactly like that, but our grid will look a bit different. Anyone with the money to invest could start up a new solar plant or windmill farm and attach it to the seastead, and it would make a lot of sense to do so considering that there is no cost for real estate out in the deep! Remember, the number one cost for a land-based solar farm is the land.

Let that part sink in: even if your seastead grows in size rapidly, you can always grow & keep your solar farm or windmills floating out away from the city, connected by only a cable. Your free, nearly-infinite land can even move relative to the city center in order to accommodate for more city growth!

Internet connection

There are many reasons a Seastead needs a good connection to the internet. Keeping in touch with family and friends is a major use of it, as is entertainment, and of course working from home has become commonplace in the last couple of years. However, I'd argue that communications with the press is a real biggie for pioneering seasteaders because a livestream of the attackers on CNN is probably the best deterrent we could have from nationstate attacks. (Ok, torpedoes might be better but that'll have to come later.)

Bitcoin mining requires a low-latency connection to remain competitive, as well. We already had Blockstream's satellites (https://blockstream.com/satellite/) to propagate the blocks and keep us on the network anywhere in the world, but this isn't enough to stay profitable... Those satellites are in a high geostationary orbit and every 10 minutes a new race for the next block must be run to earn the coins. Latency is huge here.

Thankfully uncle Elon came to the rescue here too and his new Starlink satellites (https://www.starlink.com) are rolling out now with extremely low latency. They're so fast that you can do competitive gaming over them!

So as you can see, seasteading's largest problems have been solved already, and commercial products are available to purchase now. It's nearly time to finally get a real, serious attempt at a deep-sea seastead off the ground, just while bitcoiners are becoming rich enough to afford it!

"Exactly 15 years ago (18th of August), Satoshi Nakamoto officially registered the 1st Bitcoin website. Ever since, http://Bitcoin.org has hosted his code, giving financial freedom to millions around the world"

➡️Bitcoin makes a new ATH in Argentina, officially passing 10 million Argentinian pesos.

The Argentinian stock market is up a massive 2282% in just 6 years! In real terms? Down 12%. Fun how that works isn't it?

And to make it even worse Argentina fixes oil prices at $56 a Barrel to put inflation in check. We all know price controls won't help!

Price fixing leads to shortages which inevitably leads to higher long-term inflation.

➡️Jack Dorsey: Bitcoin will completely change social media’s advertising business mode

➡️Coinbase gets approval to offer crypto derivatives directly to retail US users. The offering will launch within weeks. So let me get this straight. In the middle of a lawsuit with the SEC, they get approved to offer derivatives to retail. The SEC really wants to protect retail, right?

➡️ Bitcoin number of addresses holding 1+ coins just reached an ATH of 1,014,879.

💸Traditional Finance / Macro:

🏦Banks:

👉🏽 In the US there are now 14 banks calling for a recession and 6 banks calling for a soft landing. At the Fed’s last meeting, they said they are no longer forecasting a recession. JP Morgan was the most recent bank to say they no longer expect a recession.

What will it be? A soft landing or a recession? Or a soft landing for too-big-to-fail banks, recession for everyone else.

Talking about too big to fail:

UBS, to pay a $1.4 billion fine for fraud in mortgage-backed securities. Earlier this year, UBS acquired Credit Suisse. When combined, this brings the banks’ total fines paid since 2000 up to $31 BILLION. They have been fined a total of 177 times.

Anyway, if you want to dive into a rabbit hole, now do Deutschebank, Wells Fargo, and Bank of America..and...and...and! All criminals, but they're a bank so it's okay. Right?

👉🏽 Michael Burry just shorted the market with $1.6B Bought $890M of $SPY Puts Bought $740M of $QQQ Puts. This now makes up 93% of his entire portfolio.

Tip: Watch the movie The Big Short. "Those guys knew the logic, math & fundamentals were in their favor…but they second-guessed themselves at points because the vast majority of people thought they were crazy. Kinda like Bitcoin." Blue Collar Bitcoin

👉🏽 Emergency loans from the Fed's BTFP facility have reached $107.24 billion, another all-time high. BTFP has a capacity of $2 trillion. Total losses on US Treasuries due to rising rates are $1.371 trillion. If need be... the Fed could backstop the entire US Treasury market's current losses. One world: UNSUSTABLE!

🌎Macro/Geopolitics:

👉🏽Rates on 30-year mortgages in the US are now the highest since 2000, at 7.53%.

"Housing Market Update:

1. Average 30Y mortgage rate at 7.5%, highest since 2000

2. Median rent price at a record $2000/month

3. Mortgage demand is at its lowest since 1995

4. Median house now costs a record 560% of the median income

5. Homebuyers spend a record 40% of their income on mortgage payments

This is the least affordable housing market in history." - The Kobeissi Letter

2 years ago, buying a $500,000 home with 20% down meant you paid $207,000 in interest over a 30-year mortgage. Now, buying that same home means you pay $600,000 in interest over a 30-year mortgage. Yikes!

Or the example from last week's Weekly Recap: "Interest rates on a 30-year mortgage are now at their highest in 23 years. New homebuyers are now spending a record 40% of their income on a mortgage. Meanwhile, the median sales price of a home in the US is at 560% of the median annual income." Again, unsustainable.

👉🏽 Last week the US Secretary of the Treasury described her hallucinogenic trip on shrooms in China on national TV (CNN). By the way, the US Treasury plans to borrow $1.1 trillion before 2024, pushing total US debt above $33.5 trillion. Don't do drugs kids!

Meanwhile, and I quote Guy Swann:

"• Biden just asked Congress for $24,000,000,000 MORE for Ukraine

• Maui victims will get $700 each

• Population of Maui = ~180,000 $24B = $130,000 for EACH Maui resident...

We've sent ~$80 Billion to Ukraine so far... I'll let you do the math."

I don't want to interfere in US politics or what so ever, but just want to say: numbers don't lie. It reveals true incentives.

👉🏽 "In the first 7 months of 2023, the U.S. has seen an alarming 402 corporate bankruptcies. This is more than the entire 2022 total of 373. In the first 7 months of 2022, the U.S. saw just 205 bankruptcies. In other words, bankruptcies this year are up 96% compared to 2022. Can the Fed really avoid a recession?" -The Kobeissi Letter

I have a feeling that the Fed is trying its best to delay the recession till the elections next year. How successful they will be in this endeavor still remains to be seen.

👉🏽 Last week I mentioned the following:

"Where other countries are fighting #inflation, China has entered full deflation mode! CPI -0.3% PPI -4.4%." -Jeroen Blokland

China sees deflation for the first time since COVID Robin Xing, chief China economist at Morgan Stanley says policymakers “need to accelerate all the government spending, raising government debt to break this debt deflation trap."

China's 10y yields keep falling a sign that the economy is hard landing/crashing. China's 10y yield is now at 2.6%, the lowest level since Corona crisis in 2020. The Chinese Yuan is at its weakest since 2007.

A couple of days ago I shared in my stories a great threat by Sam Callahan on the challenges China currently faces.

TLDR: "So that's where China finds itself today. Its economy is slowing, prices are falling, the gov is censoring, intervening, and stimulating, the PBOC is cutting rates, and its currency is falling. Many expect this is just the beginning and more stimulus is on the horizon."

Even Legendary investor Ray Dalio who has +$3B invested in Chinese businesses says the country is “overdue” for a debt shake-up. China has almost doubled its debt over the past 5 years. Debt-to-GDP is now at a record 281.5%

On top of that China Evergrande seeks Chapter 15 protection in Manhattan bankruptcy court Evergrande owes money to about 171 domestic banks and 121 other financial firms. There will be consequences for the banking system. A credit crunch could follow, analysts fear, which would be bad news for China and the global economy. Remember Evergrande has struggled to pay off its loans after officially defaulting on its debt in late-2021. The property company’s debt load reached 2.437 trillion yuan ($340 billion) by the end of last year. That is roughly 2% of China’s entire gross domestic product. 2% GDP!

👉🏽The 10-year at 4.27% is its highest closing level since June 16, 2008.

👉🏽First Germany, and now the Netherlands entering a recession. The Dutch economy unexpectedly succumbs to its first recession since the pandemic on weakness in both consumer spending and exports. Now officially European countries in a recession are:

🇪🇪 Estonia

🇭🇺 Hungary

🇳🇱 Netherlands

🇩🇪 Germany

Germany is the number 1 economy in the Eurozone and the Netherlands is the 5th largest economy in the Eurozone.

The EU as a whole is in decline.

Opt-out Bitcoin.

Credit: I have used multiple sources!

My savings account: Bitcoin

The tool I recommend for setting up a Bitcoin savings plan: nostr:npub1sqzr42dj8vx32yd5jcvvl3ytux45kl0etgf6y2ymjvmd7lqmuwmqk9vk7vis especially suited for beginners or people that want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (Youtube) for more info.

⠀⠀⠀⠀

Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It's that simple.

⠀⠀⠀⠀⠀⠀⠀⠀

Is this post helpful to you? If so, please share it and support my work with sats

#zap🧡 #weeklyrecap #nostr #plebchain #grownostr #stacksats