GM 🫂☕✨🌞

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Good Morning. Merry Christmas 💜. Hope everyone enjoys the day with loved ones! My gift to you 1000 sats 🎁. Repost this note and reply with an invoice for 1000 sats.

Merry Satsmas 🎅🎄. Love you all have a blessed day.

My brother Dan wrote something beautiful about our little brother Andrew.

I miss you, Dewey. 💧

Gm! ☀️ It’s time to stack. 🥞

I spoke at a big bitcoin-adjacent company this week and one of the best questions was from someone who asked what the downsides of bitcoin adoption might be.

I always do appreciate these steelman questions, the skeptical questions, the ones where we challenge ourselves. Only when we can answer those types of questions do we understand the concept that we are promoting.

So the classic example is that in modern economic literature, "deflation is bad". This, however, is only the case in a highly indebted system. Normally, deflation is good. Money appreciates, technology improves, and goods and services get cheaper over time as they should. Price of Tomorrow covers this well. My book touches on this too, etc. The "deflation is bad" meme is still alive in modern economic discourse and thus is worth countering, but I think in the bitcoin spectrum of communities, people get that deflation is fine and good.

My answer to the question was in two parts.

The first part was technological determinism. In other words, if we were to re-run humanity multiple times, there are certain rare accidents that might not replicate, and other commonalities that probably would. Much like steam engines, internal combustion engines, electricity, and nuclear power, I think a decentralized network of money is something we would eventually come across. In our case, Bitcoin came into existence as soon as the bandwidth and encryption tech allowed it to. In other universes or simulations it might look a bit different (e.g. might not be 21 million or ten minute block times exactly), but I think decentralized real-time settlement would become apparent as readily as electricity does, for any civilization that reaches this point. So ethics aside, it just is what it is. It exists, and thus we must deal with it.

The second part was that in my view, transparency and individual empowerment is rarely a bad thing. Half of the world is autocratic. And half of the world (not quite the same half) deals with massive structural inflation. A decentralized spreadsheet that allows individuals to store and send value can't possibly be a bad thing, unless humanity itself is totally corrupted. I then went into more detail with examples about historical war financing, and all sorts of tangible stuff. In other words, a whole chapter full of stuff. I've addressed this in some articles to.

In your view, if you had to steelman the argument as best as you could, what are the scenarios where bitcoin is *BAD* for humanity rather than good for it, on net?

When Worldcoin fails, it will make FTX and MtGox look like a tiny blip on the radar.

Good morning beautiful nostriches. To celebrate 100 followers on nostr (MY ONLY SOCIAL). I'll be Zapping 1000 sats to the first 200 people that will:

1. Zap this note 1 sat

2. Like

3. Comment with your favorite emoji or text.

4. Repost this note.

OPTIONAL

5. Post a backflip performed by you (those who will are going to get 5000 sats)

The best backflip that will be voted by you guys in the comments will get 35000 sats.

a microphone in your kitchen and a camera at the front door - connected to amazon servers and shared with governments - has been normalized

pretty crazy. what can we learn from this?

Olá galera, chegando aqui na comunidade. Show !

Olá galera, chegando aqui na comunidade. Show !

Be wary of politicians who promise to give you exactly what you want.

Missed #zapathon - let’s do it old school. Drop me some invoices 500⚡️ and I’ll fill as many as I can