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I)ruid
8766a54ef9a170b3860bc66fd655abb24b5fda75d7d7ff362f44442fbdeb47b9
Cleverly disguised as a responsible adult. Founder of Trammell Ventures / Trammell Venture Partners, Blockhenge, American Information Security Group, and Rogue Signal. #Bitcoin ∞/21M

Depends on the context. Usually a cloth or leather thing that you store paper currencies in (: The closest digital equivalent would be private, self run software that you store digital currencies in. It's a poor analogy because most digital "wallets" are more like a keyring.

I used them in the post. "Account" and "wallet".

The custodian may have a wallet, or may be using another custodian, with which they have an account. Either way, there certainly isn't a separate wallet demarced out just for your account. Funds are almost always commingled (for good reasons) with a custodian.

Terminology matters. Words mean things. There is no such thing as a "custodial wallet"; that is an "account" you have with a custodian.

When you say "non-custodial wallet" you are playing the tyrant's word games. "Non-custodial" implies that "custodial" is the norm. It is not and never should be.

Because there is no such thing as a "custodial wallet," there can be no such thing as a "non-custodial wallet"; that's just a wallet.

Best explanation of the fiat monetary system I've seen thus far:

https://youtu.be/iFDe5kUUyT0

Replying to Avatar Yes Vanessa

TLDR: Be kind to BTC Noobs, and the normies that haven't figured out they are rats in a cage yet. I was lucky to meet the right people at the right time. It is my turn to hold the torch and show people the way out of a broken system. I have a lot of ideas! Hire me!

****

I vividly remember my first halving when I was just another ordinary shitcoiner, concerned only for $$$ gains. However, within 6 months I developed a deeper understanding of the flawed logic in the cryptospace, and eventually shed my narrow-minded approach towards wealth and began to see the world for what it is.

On the eve of my second halving, I take pride in my ability to #HODL through the bear market, stack sats, and change almost everything about my life. The choices I make, the opinions I hold, the behaviors I exhibit, the relationships I form. I am just honeybadgering, along fearlessly HODLing while facing the challenges of life, and constantly unlearning 40+ years of programming. #ThisIsTheWay

In this era of Bitcoin, I feel privileged to be associated with some of the most brilliant, generous, and innovative minds. I give full credit to them for helping me get where I am today, and I am grateful for their knowledge and time to teach.

I am seeking opportunities to transition my skillsets in UX, Design, and Brand Strategy into a role with a #Bitcoin  adjacent company in 2024 and I am excited to see what the future holds.💋

Would appreciate DMs and referrals as to not dox my entire professional identity here on X.

H/T for the knowledge share: nostr:npub1sg6plzptd64u62a878hep2kev88swjh3tw00gjsfl8f237lmu63q0uf63m nostr:npub1j8y6tcdfw3q3f3h794s6un0gyc5742s0k5h5s2yqj0r70cpklqeqjavrvg nostr:npub1rtlqca8r6auyaw5n5h3l5422dm4sry5dzfee4696fqe8s6qgudks7djtfs nostr:npub18y3c2yw2qyjc6r009wmker6w9q2l2xaa5xp0rdfacq7ywqa4uu6q4tnnrr nostr:npub1uhr8m622nash0s903nezweh630mruluzjyndy2nljt9aqzwdlczqsj32u8 nostr:npub1q3kyx6e22fg9npnmgrypu35mdkpsq9zzl3jnzty85l88404sytlstdg0vl nostr:npub1rxysxnjkhrmqd3ey73dp9n5y5yvyzcs64acc9g0k2epcpwwyya4spvhnp8 nostr:npub1hu3hdctm5nkzd8gslnyedfr5ddz3z547jqcl5j88g4fame2jd08qh6h8nh nostr:npub1r0pwywamlzkw0hj495eqdd6n6fg3ltrqp2t3u5yjx86x3zs9ajes0z6zy4 nostr:npub17swrr0ll933wv4djnzfkeg2g9qxp59237pzf67mvkfj4qr265skqxpumsd nostr:npub1fuk7q4y0wzqw7vjrg7xeuuva79pg7ctg69a53zsxq6gepksufrrst9mzly nostr:npub1k9tkawv6ga6ptz3jl30pjzh68hk5mgvl28al5zc6r0myy849wvaq38a70g nostr:npub10ua5vjul7d3rvvzg2psvhk36w7gpx8zn8xncqw773l4hnf0pkp4qccymjg nostr:npub1s9z7pwy96thwt7zvmrlpfnddstezxxphx9rx3m0660sgkwld9eescjnszc nostr:npub128a25achgxk429gwuwy7tgrwh44z5s42js2260cxdstk7tpxv9ds497erh nostr:npub1papldckxytp2m8met6hyeh37m0cn6e32j03srl6thy4gq3tqrz3srq8t4n nostr:npub1uau6tq23lvwjv4wnltdld9df0exkveq43det0f2vdmqmwks82y8qudcrw8 nostr:npub1vxfg5aqvj3juvzflry2t9m8fn7u4r0dttjtv099ntn2l2e0h9n3qzxhunh nostr:npub19nwf0rf9tyyjudynz5aqpathsxc923d69mgnc425f2azpzjpwzmqsnskc9 nostr:npub1ahxjq4v0zlvexf7cg8j9stumqp3nrtzqzzqxa7szpmcdgqrcumdq0h5ech nostr:npub1zfwrn5gnl9gml2lnr8kmarqdsd9yle7l5rvv84prz0ghjq8nerrs73sl0t nostr:npub1rh9x3n2hzzd2p8j7272wnhe7wgervyuxj8e8s9jm4ph99u754zgqgspwc3

Replying to Avatar Lyn Alden

Both taxes and money-printing redistribute capital, but the difference is that money-printing does it less transparently.

With money-printing, the effect works behind the scenes in ways that are harder to quantify. That's why when a government can't find a solution between hard spending choices, they print money. It's the easier method.

People know their personal tax rate, they will riot if their taxes are too high, and they know exactly who is responsible for tax levels.

But inflation is a more complex beast. It comes with a lag, for starters, since it takes time for printed money to work its way through the system. And when it comes, propaganda built on grains of truth is effective at making it unclear to people who is responsible. "It's the greedy corporations that are responsible for raising prices, not the fact that we increased the money supply 40% over the past two years!"

And so money-printing effects people not directly based on their income, their need, or other things, but based on their level of awareness of what's happening. It rewards people who are aware of it, and are borrowing the devalued currency, owning scarcer assets, and denominating contracts in harder currency. It harms people who are not aware of it, who are earning wages in and keeping their savings in cash or bonds. Many of them are led to believe that CPI is the target to beat, which is a false low target. The real target is the money supply growth rate.

And capital gains taxes, if the cost basis is unadjusted for the rate of money supply growth, further recoup some of that value from the various harder assets that aware people try to protect themselves with.

A lot of MMT advocates act as though they found some grand formula. But really what they have re-identified is nothing new: it's that the less transparent that government spending is, the bigger it can be before people will complain. People will complain about taxes right away, but currency debasement is the sneakier method for which the consequences come with a lag. So it sidesteps hard decisions this year, and leads to bigger issues a year or two from now, when someone else can be blamed and the whole ordeal can be obfuscated.

And it's not new, despite how some MMT advocates would spin it. Currency debasement has been occurring since the adoption of coinage. And even MMT-scale currency debasement has been occurring since World War I. It is turned to so frequently because its lack of transparency allows it to occur at times and magnitudes when more transparent taxes would not.