A quick rant on “disinflation”:
I *hate* the term disinflation. I feel like the average person who hears that word assumes it is the opposite of #inflation.
It most certainly is not. It just means that the rate at which prices are increasing is lower than it was before. Prices are still increasing.
Yet “disinflation” is celebrated as if it is some kind of major victory.
The most recent CPI release for Jan 2023 means that inflation is 6% annually. That’s still 3x higher than the Fed’s stated goal of 2% inflation.
And 2% inflation is STILL too high.
Yes, constant debasement is NOT a good thing, despite what every fiat economist will tell you.
Victory for the average financially-responsible person would be getting down to 0% inflation, or, *gasp* experiencing actual DEFLATION to bring prices down and restore some of the purchasing power lost owing to the TRILLIONS of dollars injected into the economy in response to COVID-19.
(I’m sure the Ministry of Truth would have me banned from Twitter for even mentioning the word “deflation”. Thank fuck for Nostr.)
But no, deflation ends the party for the crooks who’ve been manipulating the financial system to their advantage at your expense. Deflation actually holds borrowers to account instead of systemically letting them off the hook while still pretending they fulfilled their obligations.
While the politicians and news anchors celebrate the “disinflation” down from 6% to 4% over the coming months (years…?), do not be fooled into celebrating with them, good Nostrich, because their extravagant debts are getting cheaper while your hard-earned money becomes effectively worthless at an insidiously atrocious rate.
It goes without saying: #Bitcoin fixes this.
RANT OVER.
Maybe many websites will become obsolete because content producers will just transmit their work off into the Nostrverse for people to enjoy using whatever client they prefer.
The things you want to see get pulled to you as if by cyber-gravity, rather than you having to venture out from your nest and actively seek them out on a variety of external platforms.
I especially enjoy seeing the transactions being efficiently arranged into each upcoming block.
Mind-boggling that this system runs autonomously, 24/7, through a beautifully conceived incentive structure.
Nostr or NOSTR? 🧐
“Even by the Congressional Budget Office’s optimistic projections, the US government will have a cumulative deficit of over $15 TRILLION for the next ten years.” - Nick Giambruno
Even if the government collects 0 taxes over the next ten years, they still plan on spending ~$45000 per American anyway.
Do you think that you will receive $45000 of value from the government over the next 10 years? Honest question.
Can someone explain why broadcasting a note on Nostr is so much more fun than making a post on Twitter?
I get genuine joy spouting my bullshit here.
ZIP ZAP.
That’s my new catchphrase. I own it, I minted it as an NFT and now I’m officially the only person allowed to use that phrase ever again.
That’s how it works, right? No?
Oh well, who cares. Zip zap. 😉⚡️
0.5 BTC in zaps means that 1 out of every 10000 sats on the entire Lightning Network changes hands EVERY DAY on Nostr.
Zaps are still brand spanking new.
It won’t be long before it’s 10 out of 10000, then literally 1% of the entire LN capacity zipping and zapping around on Nostr alone. EVERY DAY.
Frictionless money = more velocity
Excellent point, Alan.
Beyond the logistical difficulty of actually securing purchased BTC in cold storage, I think no-coiners are in for a surprise when it comes to real liquidity.
When the rush to the orange exit starts, of course CEXs will sell any amount of (paper) Bitcoin people are willing to buy. But the FTX and Co. events over the past year have cast significant doubt on any CEX’s trustworthiness when it comes to redeeming that claim on BTC (i.e. withdrawing into self-custody).
It is highly likely that there will be a “bank run”-type failure among CEXs, and many desperate buyers will unfortunately be short-changed or even entirely swindled by unscrupulous CEXs.
Add to that the extreme conviction of the average Hodler, then the question to ask is where a massive quantity of REAL (i.e. not paper) BTC will come from when a huge influx of new capital occurs.
My suspicion is that liquidity will be very thin in this situation, meaning the BTC price will skyrocket as new buyers are desperate to get their hands on some at any price.
This highlights the importance of:
1) Getting off zero, and
2) Staying humble and stacking sats
“Gradually, Then Suddenly” is prophetic.
h/t #[2] #[3] & Parker Lewis (among many other Bitcoin thought leaders)
This is how I feel every time I remember Bitcoin is fixing the broken incentive structure of the modern world.
The future is far brighter than it was on 2 January 2009.
As much as I love to imagine any banker facing the music, all I can think of in the above scenario is that the bank CEO doesn’t give a fuck that his bank will become obsolete relatively soon; they are simply enjoying their ill-gotten fortunes and laughing at the rest of us chumps for letting ourselves be taken for that much of a ride by the system.
Jamie Dimon still seems smug even though he’s clearly losing the war.
“But without taxes, who will build the e-roads?”
STFU, William will build them and he’ll get the fuck zapped out of him for his efforts because everyone will be so appreciative. What a legend
I’ve literally used this Zap button once and I’m convinced we’re one giant leap closer to a free market on the Internet.
Shoutout to #[0] for doing the immensely valuable public service of building out crucial digital infrastructure.
ZAP BUTTON ACTIVATE! ⚡️
I say this way too often, but what a time to be alive
Just to make sure I understand correctly, you’re saying it would accelerate hyperbitcoinization if people stopped hodling and were more proactive and enthusiastic about developing a circular Bitcoin economy?
If so, I think the sensation of zapping will be most Bitcoiners’ first taste of what spending sats in an ordinary context feels like. It’s fucking awesome!
As much as I hate to let go of a single sat, it is normalizing Bitcoin as a mechanism of value transfer for me. Exciting times! 🧡⚡️💜
Why in your opinion has it been one of the most impactful years? Just curious!