“The tree of #Bitcoin must refreshed from time to time with the blood of leveraged longs and leveraged shorts.” - Thomas Jefferson on #Bitcoin

Ive been working on this and ultimately think that’s very high. But I price things in bitcoin. I wouldn’t pay 27,397 bitcoin for the operating company separate from the Bitcoin holdings (and whatever business flows out of the Bitcoin holdings & Saylor’s knowledge of bitcoin. I kinda treat that as an out of the money option if he starts a very successful Lightning business or something like that).

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nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx really called it.

That’s definitely possible too.

I don’t think it achieves what the government would want, I just see it as a potential accidental outcome from bad policy.

What’s the likelihood we end up with separate lightning networks?

Here’s how I see this happening.

The government passes a law that requires all companies who operate lightning channels to 1) know who they connect to and 2) that who they connect to is a person or entity subject to the laws of the United States.

As of right now, most lightning payments flow through one of these large companies.

This means anyone who connects to the likes of Cashapp, Strike, or River will know that the government knows who they are and they can expect to be subpoenaed to find out who they are connected to.

And suddenly we have a US regulated and surveilled lightning network and then another rest of the world lightning network.

nostr:npub1sg6plzptd64u62a878hep2kev88swjh3tw00gjsfl8f237lmu63q0uf63m: what if the hardware key didn’t need to be near the same mobile key whose funds it was signing for but could be near another trusted person’s social key so it could be used as a second signer? (Using similar tech as the social recovery.)

I’m thinking two trusted friend/family members exchange hardware keys and, if I’m reading this right, neither can do anything to each other’s funds unilaterally. They can just co-sign for a payment, a change to the mobile limits, or a mobile key recovery.

The only area of concern I see is authorizing changes to trusted contacts (I assume that’s not unilateral, and it must first requested by the mobile key) and security settings (which I assume is the same).m

I’m thinking this reduces geographic risk and even attack risk. (If my hardware key sits across the country, good luck getting more than the set limit.)

https://bitkey.build/content/files/2023/11/Bitkey-Recovery-Features.pdf

Ahh. Found it.

https://bitkey.world/en-US

I really don’t understand how the recovery works.

Also, isn’t losing *both* the phone and hardware wallet and being able to recover the funds at odds with the later point that it can’t authorize recovery without either the phone or hardware wallet? nostr:note14zfpcjdgszln8pqtqsmeazvs0dkus5w5wpw4sndwza8lz3ezyn4sm3td8v

When you make a new bestie who hates #Bitcoin as much as you do.

“Big banks and big government: we’re both here for the little guy.”

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On rice, the story of Japanese rice is the story of fiat globalism gone crazy. So, in Japan, rice is a staple but according to the government growing and consuming its own rice is also a matter of national security and Japanese pride and heritage. So the

Japanese instituted a bunch of large tariffs on imports (at one point they fully banned imports) and banned exports. But Japan was part of the WTO and this was a clear violation of the WTO. They negotiated that they would buy a quota of foreign rice but they don’t use it. They stick it in warehouses to rot.

At one point, the price of rice started skyrocketing effectively harming poorer nations like the Philippines. So some negotiations took place and they got Japan to agree to release its surplus stock in its warehouses and the price started to come back down.

As far as I’m aware, this is still an ongoing practice. But admittedly, I haven’t kept up with it. So it may no longer be the case they do this.

No surprise that global central planning doesn’t work and often causes insane outcomes.

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I was just talking to my dad and I mentioned the price action and how it’s a bit nauseating fast now. And he said to me “You said something to me awhile back I thought was really smart. You said ‘#Bitcoin is going to do what Bitcoin is going to do.’ So just relax and ignore it.”

I propose the #fightster hashtag. Because #Nostr is for everyone, even for people who relish a good online fight.

Anyone else feel nauseous, distracted, and anxious from the cortisol and serotonin increase from the recent price action?

This is a weird thing to voice but I’m finding it unpleasant because as I’ve gotten older, my version of happiness is closer to contentment and equanimity.

So I deleted the Bitcoin price widget from my Home Screen.

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We really don’t. We need humility. This cycle is likely going to be painful for a lot of nocoiners.

My personal goal this cycle is to really internalize the “stay humble” part of “stay humble, stacks sats” this cycle. No dancing on graves for me.

Cc: nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx

The government is always going to have a lot of power, even in a Bitcoin standard.

I’m waiting for the day this happens but it’s instead of a $500-$1k move it’s a $100k move.

Hahaha. Yeah, that’s be amazing.

Holy shit. In the time it took me to pee and wash my hands.

Ehh. It’s worked decently well for us *most* of the time. But we are smart to have states too.

Regardless though, Churchill said it best “Many forms of Government have been tried, and will be tried in this world of sin and woe. No one pretends that democracy is perfect or all-wise. Indeed it has been said that democracy is the worst form of Government except for all those other forms that have been tried from time to time.”

And it should be noted, that as long as we don’t lose democracy/representative government, Bitcoin will make it *much* better.

Handle what!?!