#Bitcoin as “energy buyer of last resort” is one of the most profound impacts on the world I’ve come across so far.
We could feasibly create nuclear reactors which overproduce for our needs and direct any surplus directly to Bitcoin mining.
Very good point. Even if the value of your asset increases slower than the rate of inflation, you’re on the hook for CGT.
By “beat” inflation I meant hold anything that stores its value better than holding the currency itself.
They’re saying “if you don’t suffer the loss of purchasing power then you have made a ‘gain’ (in nominal terms…) and you owe us.”
Also sincerely appreciated #[1]‘s point that zapping sats on Nostr is a way of communicating using a finite medium, which negates the distorted signaling possible with a non-finite method of communication such as a “like” button.
There is skin in the game with every zap; the cost of false signaling is higher than the benefit.
#Nostr is a game-changer and we are figuring out how to articulate this so others can understand the spark we’re feeling here⚡️
“Energy abundance IS human flourishing” - Harry Sudock #[0] on The Investor’s Podcast Network with #[1] Ep. BTC119
Fantastic episode - I was particularly taken aback by the idea that we should aim to be as indifferent to the energy expended to heat/cool our homes as we are to the energy expended to perform a Google search. It seems so obvious now that this ought to be our aim as a civilization: harness more energy.
I think it was a Cory Klippsten tweet that enlightened me into understanding that Capital Gains Tax is a tax on anyone who manages to beat #inflation.
He who issues the currency mandates that his debasement be borne by all.
(Except those lucky few who are rich enough to never need to realize their capital gains…)
Bless, Will 🙏
#[0]
Most houses are treated as being partially for use (an expendable consumer good) and partially an investment (a vehicle to preserve/increase wealth amidst perpetual inflation).
Obviously for the consumer good side, the house is only worth the value that someone can get out of living in it. No matter how nice that house is, there is a limit on how much a rational economic actor would be willing to pay to own and use it.
The investment portion, however, has no upper limit in terms of price. In order for that purpose to be fulfilled, it is just necessary for the price sold for later to be higher than the price paid today.
My opinion at this stage is that house prices are absurd now in most places, owing to decades of people observing that house prices tend to go up.
Prices go up meaning people think it’s a good investment and are willing to buy at ever-higher prices because they think it will keep going up forever.
I think the majority of the purchase price of a house nowadays is for the investment side rather than the consumer good side.
A house has been a good investment only because it has been one of the few things to consistently keep up with (or even beat) inflation.
With the rise of Bitcoin, the investment function of houses gets vastly diminished as Bitcoin is an even better long-term store of value.
I agree that house prices will collapse in real terms once the Bitcoin standard is adopted, and boy am I excited for it.
(Sorry for the long post)
I’m actually impressed that we can be zapping this furiously and nothing has crashed yet.
Press on, MOAR ZAPS #plebchain
There’s already more community through this protocol than I ever felt on Twitter.
I blame zaps. Toooooooo fun.
Starting to believe that #[0] is a psychological mastermind. Notes are too zappable…
👀
I wonder if building a following on Nostr from these very early days is akin to acquiring BTC in 2009-2011, but instead of appreciating in $-value you appreciate in social influence.
“Feeling toxic, might delete later 🥰”
Bashing ETH is our favorite pastime - too fun, too easy. 😌
Not true, sir, you can also verifiably own monkey .jpegs. Or any type of .jpegs.
It’s called innovation.
Ethereum supporters regularly claim it is an improvement on Bitcoin, when in fact they are not even intending on solving the same problems.
Bitcoin is the new money. Ethereum is a smart contract platform.
Insofar as it relates to #Bitcoin vs “Crypto”, it is important and necessary. No one should be fooled into thinking they are one and the same.
Tribalism between crypto projects is irrelevant (to me, at least).
Keep it up #plebchain gang, at this rate I’ll own the entire Bitcoin supply in no time
Stay humble and stack sat
“Hey Nostr mods, this racist fascist thinks there should be free speech online, please ban”
My 2nd favorite type of video promise 😉
Me: “Baby, I stack sat in my sleep”
Her: “You mean stack sats?”
Me:
