nostr:npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83a I'm reading your excellent book, Broken Money, and I can't help but chuckle every time bank reserves are referred to as “liabilities” of the central bank. How can something be a liability if it can be created out of thin air with zero production cost? Reserves are only liabilities in a technical accounting sense. But there is no burden for central banks to produce them.
Federal reserve notes are ironically the best way to transact privately p2p 🤣
L1 bitcoin is not destined to be p2p cash. You need to disabuse yourself of that notion.
brilliant
The EU will soon be nothing regardless
how old are you?
then why all this high time preference whining about it?
what’s your hedge against a big pump?
Yeah I’m not expecting an outright ban, but more along the lines of having to register addresses where you hold btc
the counter party
What is your game plan for when the US bans self-custody?
It’s 3 AM, do you know where your utxos are at?
what do you want to do differently with this second chance?
Ordinals or not, high fees on L1 has always been the end game. Surely you know that. Prepare yourself.
But they might evolve into more serious assets like equity securities issued on the btc network. I’m pretty agnostic about it.
