I'm not talking about individual voices I respect. I'm talking about news media. They're just propaganda rags. If something actually important happens people discuss it here rather than spinning the government narrative.

Nostr is my news source. Anything that doesn't appear here is fiat bs I'm not interested in anyway.

I view bitcoin as the greatest SoV asset on the planet. However, the market does not. Yet—at least.

The recent failure of SVB is the reason why we bitcoin. We store our wealth in an open-source network with no counterparty risk. We only lose our wealth if bitcoin fails (which the probability decreases daily)or if we lack personal responsibility over our keys.

We do not have to cry for regulators to intervene. Our funds are as secure as we want them to be. We do not have to rely on risk managers at a bank to protect our funds.

Bitcoin is built for this moment—when people are looking around for someone to blame because they stored deposits at a fractional reserve bank. Should banks lend out client deposits? In my opinion, no—unless the depositor gives consent. However, banks lend out deposits. That’s reality.

Why then is money flowing out of bitcoin instead of flowing in—if bitcoin really is the great SoV asset? Several reasons: the conflation of bitcoin with other crypto assets and crypto businesses, the volatility of bitcoin in dollar terms, the consensus that bitcoin is a speculative asset, etc.

The only rationale reason to sell bitcoin at a time like this is to avoid volatility in the short term. You could wait out the storm by storing funds at JPM, BAC, or Wells Fargo. You could buy 6-month T-bills that yield 4%. That’s a fine short-term play.

The question is what will you do in the medium to long term. We know this ends in a Fed pivot. The financial system needs liquidity. QE will return. The government cannot afford such high interest payments when factoring in other expenses.

When the Fed pivots, the dollar will be debased. Money supply will increase to provide liquidity to the system. Extra liquidity will find a home in risk assets.

We would be off to races again—if it wasn’t for a high CPI. That confuses things. However, the Fed may have to live with higher inflation if it means avoiding financial collapse.

How does one plays this then? You could go all in on bitcoin today. Some of you probably already are. I’m not. Why? I like cash on hand in the short term for optionality. Also, so I’m not a forced seller if something occurs in my life—get fired, health incident, etc. Could I miss the boat on buying more bitcoin if it 10x tomorrow? Sure. I could also capitalize if it gets cut in half in the coming months.

I take my bitcoin allocation seriously. If my expectations of bitcoin come to pass, my investments today will set up my future kids and their kids. If I’m forced to sell or fuck this up, I have missed a great opportunity.

The market will come around to bitcoin. The dollar will continue to lose credibility while bitcoin’s credibility will continue to rise. Most older asset managers will retire, and new ones with less fear of technology will replace them. The stability of the bitcoin network will be more desirable than the unpredictability of the modern financial system.

Bitcoin is made for this.

would you zap for spanish classes?

1. Self custody

2. Run a node

Be your own bank and chill. 🤙 #bitcoin

Maintenance cost of Bitcoin

Bitcoin is the most universally desirable property in space and time.

Its the property with the lowest maintenance cost like Gold where you have to pay 2%, 5%, 10% fee just to maintain it.

The maintenance cost of a building is about 3% per year.

Once you place Bitcoin private keys in cold storage there is no cost to maintain

Any Canadian Bitcoiners looking for a Shakesquad on Shakepay? We are averaging 250 sats/day and could use another member! Hit me up. 😎

For me it's Portugal but think the best way is to have several places you can call home (i.e. Have a toothbrush waiting for you) and it's called the flag planting strategy.

One of the main purposes of Flag Theory is to weaken the grip that any one country has on you, your money, and your freedom.

Dividing your loyalties, so to speak, between two countries is one of the best ways to do this.

That is why the second citizenship or residency flag is the first one on the list of things to claim your freedom.

Every citizenship comes with rights and responsibilities. The key is to find the country that offers you the rights you’re looking for with the responsibilities you’re willing to shoulder.

You didn’t choose the responsibility of paying 40% or more in taxes to your home country. It’s likely that decision was made for you the moment you were born. But maybe you’re okay with paying 10% or 20% instead.

With Flag Theory, you can decide where to plant your citizenship flag and choose to accept the obligations that come with it. Having dual citizenship or residencies means that you’re never a slave to one country.

But let’s be clear: Is dual citizenship a get-out-of-jail-free card for paying taxes?

No.

This is especially true for US citizens. If you are a US citizen, you have to pay taxes no matter where you live and no matter how many other citizenships you acquire.

Can you keep more of your own money and lower your taxes with a second citizenship?

Yes.

But you’re always going to be a US citizen (unless you renounce, of course) and that means that you will always have US citizen reporting and tax-paying requirements.

In short, if you're a US citizen, the flag planting theory won't work as well for you as for those with other nationalities but there are still options.

Had a look through and am starting sapiens now!

Good Morning Nostr! 🤙 Great day for a snowshoe. Looks like my favourite pods are quiet this morning. Any audiobook recommendations? 📚 🎧