This is an epic rant and 100% on point. nostr:note1j3tj5z0dezjst9pdpxlgpz0cgxsa8k8gh93s0kcqf7kx5zd43q9qspjswq

I understand the concept but based on history, *most* profit taking should be on 6-9 months. When there is mass euphoria from the new coiners. Cutting a sizable chunk from your stack now seems stupid AF. Also, the coin balance should be getting tighter … supply dynamics should be hitting by now - they don’t seem to be hitting yet.

Just seems suspect to me … if we were $175k and pulling back 20-25% I wouldn’t have the same skepticism. But being only 40-50% over the last ATH at this stage of the bull, I think there are some nefarious things happening in the background.

https://x.com/EricAbbenante/status/1877207054105886836

The emission consultants foretold by The Mandibles … the bitcoin standard is closer than we might think. nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx nostr:note132g2azvp8waljn92rju5kv0z37v0u37xfyeqc5mh6ujjx6qm0kcqlwd5sy

Saylor is meant for days like this. Buy all the government coins, nostr:npub15dqlghlewk84wz3pkqqvzl2w2w36f97g89ljds8x6c094nlu02vqjllm5m …

Agreed. Right now it seems like V4V advocates are giving out participation trophies to creators while shaming people with the zapotential…

(I zap from my doxxed personal account).

But why sell now? History says the next 6-9 months should be gangbusters. Doesn’t make sense why there is so much selling pressure +40-50% beyond the last cycle’s ATH.

I call shenanigans.

*Quality creators*

Throwing a forgettable concert with a NOSTR interface doesn’t immediately deserve zaps. Neither does a pretty girl with tattoos posing scandalously.

We need original and impactful *art*, *music*, *philosophy*, *science* shared on NOSTR … AND that sharing needs to be uniquely, more conveniently, etc. consumed digitally.

For example, a concert is meant to be consumed in person. The value of the concert is the human element of a shared, live experience. Once the novelty of zapping and V4V wears off and/or more artists start streaming via NOSTR creators should expect the value to trend towards its marginal operating cost to push a live event out digitally, which will trend towards zero.

It’s the great reckoning our generation faces…all this digital content is essentially worthless. Even if it is “invaluable” … the equivalent of Jeff Booth’s oxygen analogy.

There will always be someone willing to post/stream content essentially for free. Unless there is something TRULY unique about that content, the value trends to zero. That’s why corporate social media has to sell the metadata…the actual digital content we generate is worthless.

I have had the biggest chip on my shoulder even before I discovered bitcoin.

Someone told me I couldn’t do something or wasn’t good enough, I’d prove them wrong and then some. While it always worked out well for me in the long run, the days along the way can be exhausting and discouraging. From grueling schoolwork to endless laps in the pool to corrupt office politics to complex family relationship dynamics, I’ve always delivered results that exceeded what the people in and around my life thought was possible.

I feel like this bitcoin journey is the culmination of *everything* I have done and *everything* I have worked for. It feels like I am in the process of one final, BIG ‘fuck you’ to the doubters, haters, and “disinterested” onlookers. The chip feels as big as it ever has been and hopefully ever will be.

Maybe I am destined to forever be motivated by a “me vs. the world” attitude. But I hope the need to FIGHT everything all the time will fade … the feelings never being as big as going 100%+ all-in on bitcoin and then (…now…) waiting for my first bull run pay-off.

Don’t ever bet against me.

The time for stacking sats was 1-2 years ago. Now we pump.

Who the actual fuck is suppressing this bull market?

nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx nostr:npub1rtlqca8r6auyaw5n5h3l5422dm4sry5dzfee4696fqe8s6qgudks7djtfs

Interesting comment — they’re not lumped together.

“Unprecedented human progress” coincided with the discovery of liquid and gaseous fossil fuels and the invention of the internal combustion engine. Our progress should be attributed to those, not fiat credit expansion.

Debt is a priority claim on an asset. Equity is a residual claim. There will always be a market for priority as there is less risk on priority claims. Therefore there will always be a credit market. The size of future credit markets, though, will be much smaller than it is today.

Coinbase is fractional reserve banking bitcoin. The more deposits they have, the easier this is. The exact % of reserves they’re holding isn’t clear but the larger share of the bitcoin market they have (with IBIT ETF, other ETFs, and MSTR they are probably over 1% of the total bitcoin supply, and a much higher percentage of the current Bitcoin issuance schedule). As the chance that there is a “run” on these coins is lower the more coins they have, they’re able to have fewer and fewer BTC on hand to meet market demands. This will only get worse with time if most new bitcoiners aren’t custodying their own coins.

Inflation is about the size of the numerator. As bitcoin is successful, that numerator is approaching a fixed 21M BTC supply cap. But if Coinbase and others are using fractional reserve banking than the paper equivalent of those coins will be higher. While this means we won’t experience as much deflation as they otherwise would, we won’t have inflation like we’ve become accustomed to - valued in $$.

IMO the biggest threat to Bitcoin is their ability to blunt NGU…which they’ll do using fractional reserve hodling and is enabled by MSTR and the ETFs not doing proof of reserves. I think it is pretty clear Coinbase is fractional reserving the Bitcoin they custody right now (at some level) and not very many of the bitcoiners on NOSTR seem to GAF…which is very confusing.

It’s Coinbase fractional reserving the ETF and MSTR bitcoin

Who is fractional reserve “banking” bitcoin?

Yes

They sufficiently scared retail last cycle with the FTX-induced rug after Larry David and Tom Brady.

Major corporations and traditional venture & PE backed companies don’t want competent leaders working for them anymore. They just want insecure followers who comply with orders and don’t ask questions.

Critical thinking and pragmatic risk taking is punished in the current business climate, not rewarded.

Bitcoin fixes this.

That’s a fair characterization

There is a lot of literature on how your body responds to various types of fasts. I’m not recommending anything here but I try to do a 120-hr fast once a year. Intention is to trigger autophagy. And post 72-hrs your mind starts doing some pretty cool stuff.

Throughout the year I’ll do 72-hr fasts to reestablish discipline.

I’m no “expert” by any means but I enjoy the experience of fasting.

The value to China of that oil in Iraq is essentially zero. The contract terms are terrible. If you want to argue surety of supply, that’s fair, but the fact that they took those contracts over from American companies is not viewed as regrettable from those companies perspectives.