All joking aside

SATOSHI IS A RICH MOTHERF*****

Apparently one of the arguments Keynesians make for why Bitcoin's fair value is close to zero goes like this:

MV=PQ

M is the total money supply

V is the velocity of money, that is the average frequency with which a unit of money is spent.

P is the price level of the money unit

Q is an index of purchases

The value of the Bitcoin economy = (PQ)/(V*21000000)

Since almost nobody transacts in BTC for goods and services, Q=~0 and thus Bitcoin's economic value is basically zero.

While it's true that almost no one transacts in BTC on a regular basis, the logic is flawed.

MV=PQ is the equation of exchange. It's a way of measuring the amount of money that an economy needs based upon the demand for transacting. It's Keynesian demand-side monetary theory as opposed to Austrian supply-side theory.

Here's the unstated assumption for why the equation is wrong. More accurately, I'd say the equation is INCOMPLETE. The whole thing is built upon the assumption that the ONLY factor for demand of money is to SPEND it. We all know that's absurd. As such, this equation can AT MOST only quantify demand for SPENDING value, not storing value.

The Keynesians can't comprehend the value of Fuck You savings.

running fedimint

We make it easy (at least all the back end install) to run a LN node as everything is installed for the user out of the box.

In my opinion, this will help with this custodial issue. Moreover, we need more people making Sovereign Computing easy for everyone.

People are still not realizing that regardless of who wins elections now, the People are done with the entire system they represent.

The big bank, two party theater, military industrial complex machine is what people are absolutely finished with.

All elections do now is determine what atmosphere this happens under.

Got a green egg today, so i know exactly which hen laid it. All my hens are barred rock and lay brown eggs, but one hen is a barred rock cross, and she's the one that lays the green eggs. #grownostr #chickens #farmlife

#m=image%2Fjpeg&dim=2016x1512&blurhash=%23II4%7Ck_NWCnNoyo%23xtRiRjRP%250IoRkxat6ofWBs%3A9FnNWBS%24V%40nhNGt7s%3AEN-%3B%25LNGjYayR*ofj%5Bs%3Bt7M%7BMyt8%25MofR*Rjs8InR*xuRkM%7BjZj%5Bt7R*ofxuWYs.oLofa%7DWB&x=263b0b509f9c1ee68809e4b8beee657f26ff55685240a247ddd08179391d4429

My dog hurt her leg last night, her good leg. She previously tore her CCL, the canine equivalent to the ACL, in her right leg. Last night she hurt her left leg and is limping. I’m hoping it’s just a sprain because she hasn’t yelped like she did when she tore her CCL. If anyone wants to send Navi positive thoughts or prayers for healing I’d appreciate it.

I’m fairly sure this is the first time I have ever seen that. nostr:note1up5tad9n8zjame9pjhrn72ahcn29wgvqe40t5vuhwcssdff8ygxquqyw8d

They're not ready. I'm not ready.

Nobody is ready for Nostr.

Yesterday, a crypto journalist sent me a link to a video from the PubKey party that couldn’t be viewed without a subscription. It required using ETH and a promo code entered into a Coinbase product. I asked him if there was a way to watch it without shitcoining.

Then I told him about how Lightning payments can be used to unlock digital content without any “Web3” nonsense to get in the way.

He replied:

WE HAVE TO DO THIS

Keep pushing for the freedom technology you believe in. 🧡⚡️✊