upside down world

Cooked up some of these bad boys tonight. #foodstr

Thanks for the feedback! We are taking that exact approach with Android: users will have the option to use the built-in Primal wallet or connect to an external self-custodial wallet via NWC.

Unfortunately, this approach won't work on iOS because, as far as we can tell, Apple won't allow zapping via NWC wallets. Hope this changes in the future. If so, we will offer this feature on iOS as well.

Zaps represent the only fundamentally new innovation in social media.

Everything else is a distraction.

What would it look like, if an emergent money was being monetized?

Often when I talk with academics or other high-IQ critics of bitcoin, it’s the volatility and seemingly speculative aspect of it that turns them off. It’s almost distasteful to them. They can get behind the idea of global open-source payments and so forth, “but that’s not why people buy it” they’ll say. “They buy it because they’re speculating. It’s too volatile for its own good.” Some aspect of them dislikes it in principle, almost *because* one can make money from it.

But a new decentralized money, including its own unit of account and liquidity, doesn’t just emerge as a multi-trillion dollar-equivalent network out of the box. In order to go from zero to trillions in market capitalization and liquidity, it needs upside volatility. And with upside volatility comes speculation, leverage, and downside volatility. Cycle after cycle, it’s priced like an option. At first it’s like a 0.1% chance that it succeeds in the long run. And then in the next cycle it’s like 1%. And then in the next cycle it’s like 5%, and so forth. So, early capital allocators that have seen a thing or two and know the high failure rate of new ideas will say, “This’ll probably fail, but if it doesn’t, both the investment gains and the macro implications will be enormous.” And then 15 years into it with a few more cycles under its belt, the probability of success looks less like a distant moonshot and more like a real possibility, and then eventually starts to look like the base case. In the beginning the question is, “how will this succeed?” and at later stages the question becomes, “what risks could prevent this from continuing to succeed?”

The process of buying bitcoin is often a speculative process at first, but then as people learn more, they often view it differently. Those that really want speculation will then continue down the pipeline of altcoins- there’s always some shiny new object to try to speculate on. On the other hand, those who begin viewing bitcoin as money, start to view it as a defensive or risk-off act to hold a piece of this liquid and globally decentralized network of value. One would feel too financially exposed not to.

👀 nostr:note1z67crw6skyufrtp02acazre54y56v0qv58ms6uplkd240wdxzrpq2mj779

It's actually kind of shocking how polarized my Twitter/X feed has become.

So many people who were technical developers, capital allocators, thoughtful geopolitical commentators, etc are now just outright tribalists.

-Some of them are direct anti-Palestinian. Not just anti-Hamas, but outright against Muslims existing in Israel.

-Some of them are direct anti-Jew. Not just anti-Zionist in the sense of being critical of the modern state of Israel and its border rights. But instead just like, actually anti-Jew.

I hate to see this. The truth is not necessarily in the middle (ie "moderation" may itself be wrong by assuming the middle is correct), but perhaps more concerningly, many people can't even steelman their opponent's view. In the best of worlds, you should be able to explain the most intelligent version of your opponent's view, and then deconstruct it by explaining how it's wrong.

I see little of that. Hardly anyone can do it. My feed is now mostly like 90 IQ tribalist stuff, even from 120 IQ people. It's sad to see. I rarely see anyone who can steelman the Palestinian case and then explain why Israel is right, or steelman the Israeli case and explain why the Palestinians are right.

I have my own personal views, first and foremost toward the civilian children, and secondarily toward land rights, but perhaps my biggest view thirdly is to criticize the sheer polarization that has occurred. Everyone is sure, but few can particularly explain the dilemma in detail in such way that acknowledges their smartest opponents views and then builds their own case against that. Almost everyone is instead polarized and tribal now.

One of the reasons I prefer Monero. It just works.

#meme #memestr #nostrmemes #memes 816,131 🤙💜