Molly's Nursing School Graduation
We've put 3 kids through college but this is our first college graduation. The first two graduated during COVID so no graduation for them (GRRR!). Preston is a 2nd-grade teacher in Nashville. Emmaline is an Event Coordinator in Orlando. Due to pent-up celebration anxiety, we went hard for Molly's graduation from nursing school at the University of TN in Chattanooga. She graduated with her BSN RN, recently passed her NCLEX, and started her job at St. Thomas Midtown last week. 3 down, 1 to go...Max is on the clock!
I remember watching some group podcast where you were drunk (or at least drinking) and chiding someone for not being bullish enough. I’d never heard of you and was like who the hell is this guy!?! BTW, you are better when it is just you spitting facts. I’ve learned a lot from you over the years. But you were right, no one is bullish enough!
Saylor is bullish. Imagine that...but he is currently VERY bullish. I agree with him completely. By the way, he has been directionally correct about pretty much everything I've ever heard him talk about.
Clarity in regulations has increased. Bitcoin is different and clarity has increased, while clarity in other crypto has only worsened.
More people/institutions are likely going to want to buy Bitcoin. Very few can easily do it.
Many individuals don't know how to do it but would do it if they had access via their traditional channels. These are not as good as buying/holding your own on-chain Bitcoin but viable models for many of these people.
Institutions have investment mandates that don't allow them to invest in the asset class. They also have to stand-up the infrastructure to custody this type of asset within their walls. This is not an easy thing for them to change (it will take time).
Continuing improvements in regulatory clarity and investment access (think spot ETF) will make everything easier for everyone.
Even if all these people begin allocating to it there are not many sellers as new money comes in. Exchange balances are as low as they have been since 2017 bull market (2.27mm Bitcoin now, down from 3.1mm at 2020 peak).
See chart here: https://en.macromicro.me/charts/29045/bitcoin-exchange-balance-total
Add to this an upcoming halving within the coming year (block reward goes from 6.25 down to 3.125 per block). Blocks occur about every 10 minutes (so 900 new Bitcoin a day become 450 new Bitcoin a day). This will make Bitcoin's stock to flow ratio 120 (it is currently 56). Gold's stock to flow is 62. The next halving will make Bitcoin more scarce than gold. Another reason Bitcoin is better than gold as a store of value asset.
Demand UP + Supply FLAT/DOWN = PRICE will need to rise to unlock supply.
I think he is directionally correct here as well. Bullish Bitcoin!
[Runs Through Brick Wall.gif]
Great interview nostr:npub1ahxjq4v0zlvexf7cg8j9stumqp3nrtzqzzqxa7szpmcdgqrcumdq0h5ech and nostr:npub15dqlghlewk84wz3pkqqvzl2w2w36f97g89ljds8x6c094nlu02vqjllm5m
New topics covered with nostr:npub15dqlghlewk84wz3pkqqvzl2w2w36f97g89ljds8x6c094nlu02vqjllm5m this week.⚡️
⬩Spot Bitcoin ETFs
⬩#Bitcoin Halving
⬩Can #Bitcoin 'back' the U.S. Dollar?
⬩#crypto regulation
⬩Contrasts among investing strategies for ETFs, mining stocks, companies like MicroStrategy, & direct asset acquisition/self-custody
youtu.be/1lxqUWXzVGY
Saylor is bullish. Imagine that...but he is currently VERY bullish. I agree with him completely. By the way, he has been directionally correct about pretty much everything I've ever heard him talk about.
Clarity in regulations has increased. Bitcoin is different and clarity has increased, while clarity in other crypto has only worsened.
More people/institutions are likely going to want to buy Bitcoin. Very few can easily do it.
Many individuals don't know how to do it but would do it if they had access via their traditional channels. These are not as good as buying/holding your own on-chain Bitcoin but viable models for many of these people.
Institutions have investment mandates that don't allow them to invest in the asset class. They also have to stand-up the infrastructure to custody this type of asset within their walls. This is not an easy thing for them to change (it will take time).
Continuing improvements in regulatory clarity and investment access (think spot ETF) will make everything easier for everyone.
Even if all these people begin allocating to it there are not many sellers as new money comes in. Exchange balances are as low as they have been since 2017 bull market (2.27mm Bitcoin now, down from 3.1mm at 2020 peak). https://en.macromicro.me/charts/29045/bitcoin-exchange-balance-total
Add to this an upcoming halving within the coming year (block reward goes from 6.25 down to 3.125 per block). Blocks occur about every 10 minutes (so 900 new Bitcoin a day become 450 new Bitcoin a day). This will make Bitcoin's stock to flow ratio 120 (it is currently 56). Gold's stock to flow is 62. The next halving will make Bitcoin more scarce than gold. Another reason Bitcoin is better than gold as a store of value asset.
Demand UP + Supply FLAT/DOWN = PRICE will need to rise to unlock supply.
I think he is directionally correct here as well. Bullish Bitcoin!
[Runs Through Brick Wall.gif]
Great interview nostr:npub1ahxjq4v0zlvexf7cg8j9stumqp3nrtzqzzqxa7szpmcdgqrcumdq0h5ech and nostr:npub15dqlghlewk84wz3pkqqvzl2w2w36f97g89ljds8x6c094nlu02vqjllm5m
There is a product called Zion that is designed to do decentralized “houses” for influencer types to run their own content and not be tied to the centralized providers. It is Nostr-ish with additional tools on top to help run and store things.
At some point I’ll move to (or something like that) that with my content (and pay for my own storage) but it’ll be mine and completely decentralized.
YouTube is fine for me for now. It is free and very easy. I’m not storing controversial content so it works fine.
I wanted to say thanks for all the content you put out nostr:npub1s5yq6wadwrxde4lhfs56gn64hwzuhnfa6r9mj476r5s4hkunzgzqrs6q7z
Since 2008 I've known something wasn't right with the world. I've listened to the We Study Billionaires podcasts for years (started back in 2014). I was trying to understand how to preserve wealth in a centrally planned world. Your late-night Youtube live streams back in late '18-20 discussing macro events/Bitcoin along with '19+ content on your show really flipped the switch for me with Bitcoin. I became a HODL’er in late 2019.
Learning about Bitcoin was also an education into what the problems are with our financial system. I've spent a great deal of time trying to learn about all kinds of areas of investing. I don't know that I have it all figured out, but I know why I'm doing what I'm doing to combat the problems I know exist. That hasn't always been the case.
You've been a huge resource for me. I'm just one guy out of your many followers. But I’m sure many are like me and appreciate what you do. I wanted to pass along an article I wrote that sums up many years of thoughts because you inspired a ton of it. It is heavily influenced by your content from over the years. I've implemented more into my investing thesis with things I've learned from your content than anyone else. Your work inspires the way I invest my wealth but more importantly the ability to feel calm as the financial system continues to unwind. I have not always felt that way. So, Thank You!
#Bitcoin is Hope!
Breaking News
Fitch starting to figure out what almost every #Bitcoin HODL’er has known for some time.
Tim's Ford State Park - Winchester TN
We checked the box on Tim's Ford State Park. We aren't really lake people but we stayed in Winchester, TN at Tim's Ford for an extended weekend where we did other activities (Jack Daniel's, Molly's Graduation, and some cool hikes). Gran was there and made us a delicious breakfast in one of their cabins. All that was enough to check the box on this state park.
Just checked my resting heart rate before I ride the bike. Watched it for a few minutes. Went between 44-46 bpm. I’m 50 and off the charts low even for an 18 year old.
I am going to live forever based on that metric. I can’t wait to pull my blood work again. I bet all my markers are going to be drastically different than when I pulled them at year end.
For most of this year I’ve eaten no processed foods (mainly ground beef, eggs, milk, cheese, honey, and fruit). Most importantly NO SEED OILS!
I’ve lost 24 pounds and 5% body fat since the beginning of the year.
“You keep eating like that and you are gonna have problems!” — Many people in much worse shape than me 
I’ve gotten value over the years from Twitter. Learned a ton from those I follow (including you). Even have a few hundred followers myself (even though I’m positive I’m shadow banned because of constant shit posting).
That said I ain’t ever verifying anything or paying for shit. Twitter (and all social media) can get F!
Same for YouTube. I have a channel and post videos weekly (mainly just to store huge videos) but no way I’m verifying, or monetizing, or paying for any of that.
These clowns can kill my account(s) any day they like. F that!
I’ll just run my own site and as freedom tech continues to expand migrate more of my stuff there.
No matter how you look at it this isn’t looking good.
A system awash in debt and without a hint of restraint can’t handle rates like this. The debt will either inflate or the currency will be debased. Neither are good for bondholders.
Bonds are Certificates of Confiscation.
#bitcoin 
nostr:npub1zrysysh8wq9zs3u5xzac9vf69we3wxrdj8rehns3japxdftqcqvsst8vpd spitting straight fire with nostr:npub1gdu7w6l6w65qhrdeaf6eyywepwe7v7ezqtugsrxy7hl7ypjsvxksd76nak
The bond guys HAVE TO come to Bitcoin. If they don’t they get obliterated. They’ll figure it out at some point (some kinda are). Get your sats before these ass clowns do. Don’t sell your coins to them when they want them.
Great episode! Best Foss appearance in a long time (which is saying something).
file:///var/mobile/Library/SMS/Attachments/fe/14/1CDAAA06-3134-4E4C-A3A6-617F92BEDB30/tmp.gif
Also the link in the first message was a copy paste error.
Turns out you can’t delete a post on Damus?!? WTH!?! That seems bad!
nostr:npub1zrysysh8wq9zs3u5xzac9vf69we3wxrdj8rehns3japxdftqcqvsst8vpd spitting straight fire with nostr:npub1gdu7w6l6w65qhrdeaf6eyywepwe7v7ezqtugsrxy7hl7ypjsvxksd76nak
The bond guys HAVE TO come to Bitcoin. If they don’t they get obliterated. They’ll figure it out at some point (some kinda are). Get your sats before these ass clowns do. Don’t sell your coins to them when they want them.
Great episode! Best Foss appearance in a long time (which is saying something).
file:///var/mobile/Library/SMS/Attachments/fe/14/1CDAAA06-3134-4E4C-A3A6-617F92BEDB30/tmp.gif
nostr:npub1zrysysh8wq9zs3u5xzac9vf69we3wxrdj8rehns3japxdftqcqvsst8vpd spitting straight fire with nostr:npub1gdu7w6l6w65qhrdeaf6eyywepwe7v7ezqtugsrxy7hl7ypjsvxksd76nak
The bond guys HAVE TO come to Bitcoin. If they don’t they get obliterated. They’ll figure it out at some point (some kinda are). Get your sats before these ass clowns do. Don’t sell your coins to them when they want them.
Great episode! Best Foss appearance in a long time (which is saying something).
file:///var/mobile/Library/SMS/Attachments/fe/14/1CDAAA06-3134-4E4C-A3A6-617F92BEDB30/tmp.gif
Touring Jack Daniel's Distillery and Miss Mary Bobo's Restaurant - Lynchburg, TN
The whole family headed to Molly's college graduation. On the way, we spent a day together in Lynchburg, TN visiting Jack Daniel's Distillery. Gran found a great restaurant, Miss Mary Bobo's, that was in an old boarding house near downtown. We headed to our tour full of delicious food. The tour of the immaculate grounds was great, and the history was interesting. We opted for the non-tasting tour. Due to an unfortunate incident/evening back in college with the hooch that was fine with me!
The number of #Bitcoin on exchanges is now lower than at the end of the 2017 bull run. See attached chart.
The peeps that HODL coins aren't going to give them back easily.
The mining reward is getting cut in half this year with the halving (6.25 down to 3.125).
Supply suffocation = INBOUND
Tick tock, next block.
Why do I say HODL'ers aren't going to give them back easily?
Enter the HODL Wave chart (see attached chart).
During peaks in price coins change hands (HODL'ers sell) and during bears they don't.
Less have changed hands this time than EVER before (more have held their coins longer than ever).
Fewer coins leaving existing HODL'ers hands
AND
fewer coins are being created
AND
exchanges having fewer coins available to sell to people wanting to buy Bitcoin.
If demand cranks up prices are going to have to rise to convince the HODL'ers to part with their coins.
I personally know a few HODL'ers and there is NO price that is going to bring their coins back online...NONE.
I suspect there are MANY just like the ones I know.
Good luck buyers!
Everything Is Monetized!
TL/DR: If the currency isn’t scarce, everything else on the planet that humans desire will become scarce.
I’ve spent the last 15+ years (since the ’08 financial crisis) trying to figure out how to manage money during unprecedented times. We are living in an experiment. My guess is you are going to have to try new things (while also adhering to some old things) to thrive! I doubt I have it figured out, but I’m closer than I was. Here’s why I’m doing what I’m doing. I hope you find it helpful in thinking about your financial journey.
And they are proposing hiking the cap gains rate to the top rate.
Fine…I’ll just HODL and borrow meagerly against my stack forever with a loan from Unchained Capital.
Come and take it. You’ll never get it. Ever!
I haven’t written that up officially (good idea) but this document from a year ago highlights all the best podcasts that I listened to on my journey (and other things that helped me). They haven’t changed much. All still pertinent!
https://deanorolls.com/2021/03/09/bitcoin-do-i-still-want-to-own-it/
In a weird coincidence, my son and I were literally just going through the list of podcasts we’d listened to over the past few years and making a top 10 list last night at dinner. Several of these episodes were on my list! Preston Pysh FTW!!! Can’t wait to relisten!
PS I’m still the Preston Pysh number 1 fanboy!!!
https://deanorolls.com/2021/10/07/im-the-preston-pysh-fanboy/
We actually nailed down the Plan B episode (9/14/2019 episode 260) as the final straw in the camels back that caused us to pull the trigger on buying Bitcoin. Many since then only reinforced that it has been the right decision.