Well said and well done 🫡

You can do the same now with a $5M prediction and be that legend in the 2030s.

It’s a must listen. I relistened to the series recently and it is even better than I remembered it from a few years ago. Remarkably prescient.

Patience.

For those who asked. These are the 10 tenets of Alpine Republicanism.

1. That sovereignty rests in the citizen, not in the state, under God who is the true sovereign of all.

2. That property, freely held and justly acquired, is the foundation of independence and stewardship.

3. That money must be sound, unmanipulated, and free from the hand of arbitrary power, honoring the commandment against false weights and measures.

4. That government must be small, frugal, and confined to the defense of liberty and law.

5. That decisions belong first to families, communes, and cantons, and only thereafter to distant authorities.

6. That peace is the natural condition of free peoples, and neutrality in foreign quarrels preserves both liberty and prosperity.

7. That the character, faith, and virtue of the citizen are the surest guardians of a republic.

8. That the customs, traditions, and Christian heritage of the Alpine lands strengthen freedom by binding generations together in faith and duty.

9. That the people retain the right of direct voice through assemblies and referenda, for no government may rightly silence its masters.

10. That stewardship of the land, the forests, and the waters is the duty of those who inherit them, to pass them on in freedom to those yet unborn.

Ludwig von Mises was a giant among men, on par with figures like Newton, Aristotle, Einstein, or Leibniz. In time, the world will recognize him as such.

Get ahead of the curve by reading this superb biography.

https://mises.org/library/book/mises-last-knight-liberalism

My thinking on dilution:

Global equities: ~10% CAGR.

Bitcoin: ~30% CAGR.

Every 5% you shift from BTC to stocks costs ~1% in return.

80/20 BTC/stocks ≈ 26% CAGR.

I can live with that.

How much are you paying for your bad habits?

It’s Friday, so I’ll confess to a weakness: I don’t dislike index funds.

Owning 10,000+ companies globally at near-zero cost and with perfect liquidity is hard to give up. I know it dilutes returns a bit, and I try to keep it minimal… but I just can’t quit fully just yet.

w.r.t. bitcoin price? I’ll take it 🫡

“Invert, always invert.”

-Charlie Munger

It’s like that scene in the big short where he realizes “OMG, they’re stupid”. It wouldn’t surprise me if this guy hasn’t read a single solitary page of Mises.

Go for the hard stuff before it’s used against you.

https://primal.net/e/nevent1qqs8djergazvsy84khduyl89u6ty4csae8k3dd4kqmm8s6vuhzdjdaqy5uf4q

This 💯. Stack like your life depends on it. Because it does. 🫡

Friday stuff. Is ChatGPT bullish enough?

Well below power trend, but I’ll take it. 24% CAGR for the next decade.

One of finance’s juicier ironies:

Vanguard is stacking massive BTC exposure via $MSTR, $MTPLF & Co while still professing to despise bitcoin.

This virus truly is unstoppable.

Hopefully a matter of time

Great episode!

Well said.

Nostr is to X as X is to normie media.

What am I missing?

This ☝️

One great value proposition is that it helps you avoid being sold for the modern equivalent of glass beads.

https://primal.net/e/nevent1qqs0l9lnsdpy2p6ju4yll6glxe0ztj5hhhtf6r5decj7fe539j7a7gsktkweq

And that’s vs. fiat, which itself has lost half its purchasing power over the period.

Seriously, please don’t touch that stuff.

The EU is such a joke. Too bad most of the Alps lie in their territory. And thank god for 🇨🇭

This doesn’t get anywhere near the attention it deserves.

In the years ahead, a relatively small number of bitcoiners will hold a disproportionately large share of global influence at every level of society.

It’ll be good for them individually, but it will also reshape society for the better, as today’s fiat elites are steadily debased and replaced.

Estimated number of holders:

> 1 BTC (future HNW): 500,000

> 10 BTC (future UHNW): 100,000

> 100 BTC (future ultra-rich):10,000

See here for more: b1m.io

GM.

Bitcoin’s fair value will increase by $97 today.

As a teaser, one good use case is that you avoid being bought by the modern equivalent of glass beads. Thank me later.

https://primal.net/e/nevent1qqs8djergazvsy84khduyl89u6ty4csae8k3dd4kqmm8s6vuhzdjdaqy5uf4q

The hardest money wins.

- China clung to silver and fell behind while the world moved to gold.

- Africa was bought with glass beads.

- North American tribes were dispossessed through wampum.

History shows what happens when you save in weak money. Don’t repeat it.

This is a good place to start:

https://nakamotoinstitute.org/authors/parker-lewis/

nostr:npub1ath4je07y7py74nvu044fum3f8hz3exc3dtcv782qg94w5gaddusl74k6d

This is going into overdrive with ChatGPT & Co

Quick reminder that tomorrow’s FOMC meeting won’t change the script: inflate, expand credit, repeat. It’s all they know.

Mises (1949):

“All governments are firmly committed to the policy of low interest rates, credit expansion, and inflation. When the

unavoidable aftermath of these short-term policies appears, they know only of one remedy—to go on in inflationary ventures.”

1) What

Onward 🫡

Good news for BTC 🤝

https://primal.net/e/nevent1qqs0yel284rjnfkrx4fujr8y3waamr78qzy9lqpas5rukyfn2p574ysg5ckc4

Gottfried von Haberler (1976):

Inflation accelerates.

“It is well known that every prolonged inflation tends to become cumulative and to accelerate. To provide the same stimulus, inflation must accelerate.”

Probably sound advice. Let these things season for 6-12 months and consider only once the market has worked in a few cycles of price discovery.

Any sense on what’s going on here? Seems very oversold and much beyond what’s been happening to other Treasury Cos. Down another 50% pre-market 🤯