The Nikkei is gearing up for a big drop today (their Monday morning). We'll see how it closes, but it's seemingly the largest 2-day drop in Nikkei history given what happened on Friday.

There's a lot of financial plumbing stuff going on currently. As Japan hikes rates from -0.10% to now 0.25%, they're disrupting the global carry trade, where a lot of global capital is borrowed from Japan and elsewhere in Asia and stuffed into U.S. large cap stonks.

Bitcoin caught up.

What I don't understand is how a move to 0.25% is triggering the trade to unwind. Is the carry trade based on the delta between US rates and Japanese rates? If so there is still a pretty big difference between the US and JPY rates so why now? I'm sure there is nuance I'm missing.

Tucker's recent statements that bitcoin was created by the CIA is now echoing through that general area of media.

STAY HUMBLE AND STACK SATS.

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.

So what's the proper way to say it

assuming I'm receiving SATs to my wallet

Zaps or SATs ?

🤔

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#Bitcoin #ember #DCA #dca #hodl #HODL #sats #stacksats #soundmoney #corruptfed #stayhumble #btc #emberapp #Btc #zaps #zap #coffee #powerlaw # lightning

So many nocoiners always say they missed the boat with bitcoin. Should have got in at 2011.

All utter nonsense. Such a dreadful fiat mindset. We are still so early, sats are ridiculously cheap right now.

In reality hardly anyone was here in 2011. The actual reality would be more 2015 and those who were here and got it deserved it. And only if they still hold it.

The real test is stacking with a bitcoin mindset. That is the true visionary. It is the future of your time and energy in purchasing power stored with sats.

All of the great changes in History you missed out on, well here you are in the early stages of the greatest paradigm shift of all time. Step back and take a look. You’re right in it. 🔥

Someone close to me has her mood completely tied to the performance of her stock portfolio. She has had some giddy days in the past several months, but yesterday she couldn’t get out of bed with the market bleeding. Why would any tie their happiness to something they have zero control over?

Ladies and Gentlemen, we have a new #SATSUSD dashboard coming soon to BTC Frame. Check out all our live dashboards at btcframe.com.

Good morning ☀️

Remember to get off the exchanges, or you’ll end up living in a VAN down by the RIVER!

NOTHING IS FITTING ME RIGHT TODAY!!!

Most people who I know that think the CIA invented bitcoin, are not very familiar with the pre-history of Bitcoin including work by Back, Szabo, Finney, etc.

I'm not saying that certainly no intelligence agency created Bitcoin, but rather, I'm very skeptical of the certainty that many people have around that topic.

Because, when you are somewhat familiar with that pre-history and look at it from an engineering perspective, you can clearly see the pieces gradually falling into place. In the1980s there was work by Chaum about how to build a database run by mutually suspicious entities. In the 1990s there was work by Back for proof-of-work. As things moved into the 2000s, there was Szabo's Bit Gold, which is very similar to what Bitcoin ended up being, and Finney's Reusable Proof of Work "RPOW" tokens. Finney hadn't solved the centralization issue, and Szabo hadn't solved the issue of better computation causing supply inflation over time, but they were collectively within shooting range of the solution. Others as well. Meanwhile global bandwidth was getting better, encryption in general was getting better (and there we've got an actual intelligence agency contribution), etc.

And then Satoshi added to that work, including the difficulty adjustment in particular and many other details, with a full implementation.

Basically, if someone thinks that Bitcoin just kind of magically came out of nowhere, then it's pretty easy to see how they'd be inclined toward a conspiratorial assumption.

However, if one sees that, just like any other industry, there was a series of engineers building on each others' work until someone finally got it over the line, then it looks a lot more organic.

🎯

So buy some… if you’re feeling bold.

nostr:note18u62ja2w5l87u4v9qxhnvqx3azafq4n7hlukmr689l7x43r8ls4skk924a

Stockpile

A goverment is going to do it.

I want it to be USA

The USA already has it.

They are selling the worlds hardest asset for something they can just print.