It was great to reconnect with DavidOgiga, the co-founder of Sote Hub and have a intriguing conversation on various topics revolve around his passion for social impact, Climate change, Agriculture, Kenyan Startup Ecosystem, Blue Economy Innovation & Sote Hub Journey.
Watch the full podcast on youtube. If you enjoyed the podcast, please consider to support it by zapping some sats. Thank you!
Thanks for adding this link Juraj.
Here are my summary notes of warnings and tips for preparing for an economic crisis by Ray Dalio.
---WARNINGS---
Ray Dalio warned of an impending economic crisis. He said that the US dollar is in danger of collapsing, and that a recession is likely in the near future.
Dalio based his predictions on a historical analysis of economic cycles. He said that the US dollar has been the world's reserve currency for over 70 years, but that its dominance is now waning. He pointed to the rise of China and other emerging markets as evidence that the US dollar is losing its grip on the global economy.
Dalio also warned that the US government is spending too much money and that the national debt is out of control. He said that this is unsustainable in the long run, and that it will eventually lead to a financial crisis.
Dalio's warnings have been met with mixed reactions. Some economists agree with his assessment, while others believe that he is overreacting. It remains to be seen whether Dalio's predictions will come true, but his warnings are certainly worth taking seriously.
If Dalio is right, then the US economy is in for a rough ride in the years to come. A recession would have a devastating impact on businesses and consumers, and it could lead to widespread job losses. It is important to be prepared for the possibility of an economic crisis, and to take steps to protect your financial security.
---TIPS---
Here are some tips for preparing for an economic crisis:
- Build up your emergency fund. This will give you a financial cushion in case you lose your job or have other unexpected expenses.
- Pay down debt. The less debt you have, the less vulnerable you will be to financial hardship.
- Invest in assets that are likely to hold their value in a recession, such as real estate or precious metals.
Diversify your investments. This will help to reduce your risk if one asset class declines in value.
- Stay informed about the economy. The more you know, the better prepared you will be.
By following these tips, you can help to protect yourself from the financial fallout of an economic crisis.
Note: Not a financial advise. It's good if you DYOR and due diligence.
After interacting with this platform for a couple of days, I must say I'm super excited about #nostr social protocol! The addition of zapping statoshi is a game-changer! 🤯 This feature revolutionizes free interaction by allowing users to reward valuable content instantly. It encourages high-quality discussions while minimizing spam 💪
And hey, it's a win-win or value4value (as nostr:npub1m2mvvpjugwdehtaskrcl7ksvdqnnhnjur9v6g9v266nss504q7mqvlr8p9 put's it) for content creators too! They get recognized for their efforts and can earn well-deserved support. #NostrProtocol #SocialMediaRevolution
Happy #FathersDay to all the unsung #nostr heroes who have embraced the joys and challenges of fatherhood. From teaching us life lessons to being our biggest cheerleaders, dads play a remarkable role in shaping who we become. Today, let's celebrate the incredible impact they have on our lives. 💙
Stay humble and stack sats!
Just reading 'Cryptocurrencies - Hack your way to a better life' book by nostr:npub1m2mvvpjugwdehtaskrcl7ksvdqnnhnjur9v6g9v266nss504q7mqvlr8p9 .
It's mind-bending how this digital revolution is reshaping our world. From disrupting traditional finance to empowering individuals, #cryptocurrencies are unlocking new possibilities and challenging the status quo.
Are you ready to dive into this brave new world? 💥
Here is a real-life meaphor of Communism vs Keynesianism in regards to Financial Crisis.
Balaji says Communism (China) they would just go to your house with a gun, shoot and take your farm (very direct) but Keynesianism (United States) they steals your money in a more substle way with a single button click.
Here is my great conversation with Alexander Bard (a Swedish Philosopher) on his bold vision for Digital Monasteries, why Ecotopia and Cosmopolis represent two different paths for humanity and how Artificial Intelligence (AI) could impact the future of Syntheism.
If you enjoyed this podcast, please support it by zapping some sats and I will appreciate. Thanks!
Let's talk about value4value and zaps.
Let's start with the fact that I love the idea and have been promoting it - both in podcasts and here on Nostr. I've written about it in my book Cryptocurrencies - Hack your way to a better life (the particular chapter is published as a blog below).
What is missing is the understanding of magnitude. When people say "people could make living by creating content and receiving zaps and boosts", we are missing one important aspect. Yes, technically, this is possible. In reality, quantity is important.
I'll start with a story from Paralelní Polis - Institute of Cryptoanarchy. The place literally made millionaires. We've been talking about Bitcoin for 10 years. Doing Bitcoin meetups, most of them for free. We had stickers with address for donation. People were coming, learning, buying BTC. One of our co-founders was asking people if they got some value and donated (more on the problematic use of this word below). Again, these were people that maybe doubled their wealth... Once, the answer was "I bought a 'club mate' to support you". So the founder ran a calculator app on their phone. It went something like this: A club mate costs 3$. Our margin is 20% (and that's gross margin), so $0.6. Rent of this place, with energies is let's say $100 for the meetup. There are people at the bar, someone doing the talk and few people helping to onboard people. So that's let's say $200 in wages. Not even saying that we pay rent and people to create these events, promote them, so people know about them. Let's say a real cost of the event is around $500 (very conservative estimate). So that would mean people would have to buy 833 club mates just for break-even. Do you think this math works?
While we _technically_ could be financed from people (the QR codes worked), people chose to drink sweet mate drink and thought they were supporting content creators.
I think this is the same case with Nostr zaps and value4value. Let's start with podcast. Studio rent - $100 per hour. So for 2 hour podcast, you need 3 hours: $300. You need some hardware, let's say capital is $30 per episode. The podcaster needs to film it (3 hours), edit, upload and promote it (let's say 2 hours). 5 hours at $50/hour = $250. So a single podcast episode is $550. A 5000 sat boost is $1.3 now. So you need 423 boosts just to break even.
Is it technically possible to get 423 boosts of 5000 sats on your podcast? Of course. Does it happen? Not much. Most listeners don't even know how to boost. So unless you do a Bitcoin-focused podcast, or have a specific audience, you are unlikely to break-even. (if people stream 100sats/min, then for 2 hour podcasts, you need 174 people streaming the whole podcast).
Let's talk about blogs. I won't bother you with math, but writing an article takes time. Then you need to create images, promote it, ...
If we want to move away from advertising, for both podcasts and text content, the technology is here. But it's unlikely to work in practice any time soon.
How do people make money now? They share a referral link to some product or service (unfortunately, very often some KYC bullshit). It gives listeners discount and the content creator 10%-20% of the value. If the product is $100 value, it's $10 per purchase. Will 55 people buy to cover the cost? Not so easy, but if you have a few thousands listeners, it is not unlikely.
If the product is yours, it is just a marketing strategy. I get more than 10% if I sell my book or course, there are still costs, but that's the way to support it.
I am not complaining - we have complete control in what we produce, how we share it and what our business model is. What I am saying, that 100-1000 sat zaps is not "paying for content creators", at least not anytime soon. I still love the feature, it creates a flow of value, is a form of feedback and it's beautiful. So keep zapping. But when you get value from some content, don't fool yourself that your $0.2 is "paying for the value".
What about the donations? Roy from Breez said something really nice at BTCPrague - don't ask for donation, because you will get a donation. If the blog post / podcast gives you $10 in value, give $10. Ask for people to add a price tag to the value people received and pay that. What was the value of learning about Bitcoin in Paralelni Polis and doubling your wealth? I can tell you what it's not - drinking a club mate. Plus it has tons of sugar.
https://juraj.bednar.io/en/blog-en/2021/06/14/financing-content-creators-and-pocasting-2-0/
Great note Juraj. I like the way you've tried to break down the math very well and in a simple manner.
Well in my opinion I believe it is possible to transcend the problem-solution framework, which has historically been used to manipulate individuals, and instead act with a sense of liberation from psychological conflicts and societal conditioning.
For instance, I envision Network States being established not with the intention of resolving specific problems, but rather as a means of experimentation, learning, embracing life's pleasures collectively, engaging in activities together, and fostering connections and sharing among individuals.
What are your thoughts on this idea of Network States?
Is it necessary for network states to solve problems?
And is that the main objective behind the concept of Network State?
Yes it was indeed! Looking forward to having more conversation with you in the near future!
Why did the apple refuse to support the Snort client in their App Store?
Because they thought Apple was just being "damus"! They wanted to snort with laughter, but Apple took the fun away! 😄🍏🤷♂️
maybe try iris.to
it has great UI
Here is my great conversation with nostr:npub1m2mvvpjugwdehtaskrcl7ksvdqnnhnjur9v6g9v266nss504q7mqvlr8p9 and nostr:npub13sv9tk6erzly4gsl7zx7p6lg4cqaw33w0f8me9wjxjt3fvqeq20sznssey on lunar punk, parallel societies and why states need to be pro-tech and pro-crypto to attract global talent in the post-Covid world of remote work and Starlink.
Here is the full podcast on youtube. If you enjoyed the pod, please consider to support me by zapping some sats. Thank you and enjoy. https://youtu.be/Aci6t81jVDo
I'm thrilled and honored to announce that our startup society, Wezesha has won the 2023 Jur Startup Society Founders' Awards! 🎉
A big thank you to Jur team and the amazing judges for giving us this opportunity. 🏆
https://twitter.com/JurProject/status/1658106232182386688?s=20
Tbh, Nostr is now the best social media in whole word. And it's just one time verification with sats not like Twitter.
So the reporter from the twitter files just joined Nostr?
Matt's about to hear all about Bitcoin 😂
Banks are closed all weekend.
#Bitcoin is open all weekend!
Good news🔥: I'm really humbled and excited that our startup @wezeshaDAO has been shortlisted by @JurProject as one of the top 10 best startups for the Startup Society Founders' Awards!
Wish us good luck as we move to the next level!🚀
https://twitter.com/WezeshaDAO/status/1646129220945321986?s=20