BITCOIN NOT: "Bitcoiners can Be Irritating when the Bitcoin Tesla doesn't stay in its lane on the Information Highway"
Subtitle: "Just because you think you know Bitcoin doesn't make you a genius or specialist in every topic"
I am into Bitcoin because it is peace based, for all.
Cut off the money supply you cut off war.
Power to the People.
I wish we could all live on a Bitcoin Peace standard. That said, I get tired of some Bitcoiners who do not stay in their lanes.
For instance:
1) Medical - Especially cancer, thank God for the experts/specialists out there. Just because you think you know Bitcoin you are not better than the best minds in this field.
2) Cooking\Diets - If you cook, with cast iron or stainless steel, there are certain oils you need to use for high heat (i.e. you are idiot if you use Olive Oil). I was going to be a dentist until Organic Chemistry weeded me out after 1.5 years. I did learn I was built with bicuspids and incisors, specific teeth. Some to bite off and chew meat and the others to chew salad. I love them both. Just because you think you know Bitcoin you are not better than the best minds in this field.
3) Pets/Kids/Marriage/Relationships/Communication/Therapy - I happen to be married, have a child and a dog. I love my life and it is full of love but I work every day on every aspect. Just because you think you know Bitcoin you are not better than the best minds in this field.
4) Economics - There are some bright FIAT people out there, if fingers are going to be pointed then we Bitcoiners are doing a shitty job educating as we hang out in our little echo-chamber-1%-Bitcoin-niche-comfort-zone or at the next big Bitcoin meetup so Bitcoiners can verbally masturbate each other to Oohs and Aahs. Just because you think you know Bitcoin you are not better than the best minds in this field.
5) Politics/Domestic/International/Abortion/Climate/Religion Change/Wars/Guns/Pot
These are white hot issues. Humans are emotive. We react. We will never all get along or agree. Nor do I want a world where we all look and think the same. But...Just because you think you know Bitcoin you are not better than the best minds in this field.
I just want to live. The life I have right now. Surrounded by my loved ones, with no threat to them. All by my not keeping guns in the house, or money under my mattress. A place to be safe. To live. To laugh. To love. To do my dumb ass Dad Jokes.
My vision of Bitcoin is about the peace it may provide.
Peace of mind with finances for me but especially the unbanked/underserved.
Peace for the world.
Peace on a Bitcoin Standard. Peace on a FIAT Standard has eluded us. Regardless, peace has eluded us since we humans have existed as we clubbed each over the head because of issues with food and fire.
You would think we humans would have evolved where we don't have to see the horrific things happening in our world today.
However, I am no expert, just trying to stay in my lane but right now an annoying beep is going off in my head.
Bitcoin gives me hope even though I firmly am on a Health over Wealth standard of living.
None of us is going to make it out of this world alive and we are all one blood test away from having our worlds rocked.
I never take my health or the health of the ones I love for granted.
I go for my annual physical in four hours. Prostate Cancer is prevalent in my family. I am not an expert but for the love of God, really humans? Dr. Jellyfinger is going to tell me if it 'seems fine.' I always tell him, can you hook that finger up to a computer or something? How do I know you are not thinking of your grocery list?
It's 2023, FIAT is our Gold Standard, we have wars spawned mostly by old white guys threatening our world, in the US we have two candidates for President one is mentally declining and the other is mentally ill, my wife/family have zero support for me with Bitcoin, I will cook with peanut or sunflower oil in cast iron, and I have to go say, "are you using the whole fist, Doc?" in a few hours.
I am blessed. Life is messy. I am grateful.
Bitcoin.
Special thanks to an inordinate amount of Germans reading my posts. Germany is quicker to listen about Bitcoin, I am shocked, however, Allianz is coming around this fast.
Not a fan. Long personal/professional story.
But I would LOVE to see Bitcoin take an enormous bite out of their Annuity market share.
Enormous.
Super profitable...FOR THEM...under the guise it is FOR YOU.
"Money Supply: M2 Decline"
We have such a huge worldwide issue with the money supply. Especially in America, "Land of the Spenders not the Savers", Debt Addicts all contributing to the financial dysfunction. Here we sit, (too lazy to stand and fight) close to $34 Trillion in debt, a ridiculous Debt to GDP ratio, paying ridiculous interest rates, ridiculous FED experts, ridiculous majority of Americans oblivious to what is going when you simply print money and inflate the money supply.
Here is what I think is a fantastic article explaining what is going on with M2 and the Money Supply.
U.S. Money Supply Is Doing Something Not Seen Since the Great Depression, and a Big Move in Stocks May Follow
By Sean Williams – Nov 5, 2023 at 5:06AM
U.S. money supply has four measurement standards, of which M1 and M2 are, by far, the most popular. M1 takes into account cash and coins in circulation, as well as easily accessible cash, such as traveler's checks and demand deposits in a checking account. Meanwhile, M2 factors in everything in M1 and adds money market accounts, savings accounts, and certificates of deposit (CDs) below $100,000. Think of this as capital that's still within reach, but it requires more work to get to. This latter measurement, M2, is what's turning heads on Wall Street.
But something interesting has happened over the past 15 months. Since M2 reached $21.7 trillion in July 2022, this oft-overlooked datapoint has declined.
Mind you, very small moves lower in M2 money supply have occurred dating back more than a century. But there have only been a small handful of instances -- five, to be exact -- where M2 has meaningfully declined by at least 2% on a year-over-year basis. Four of these previous drops occurred in 1878, 1893, 1921, and 1931-1933. The fifth instance, and first since the Great Depression, is ongoing right now, with M2 money supply down 3.17% from the prior-year period, and 4.37% from the July 2022 peak, as of September 2023.
Entire Article here:
p.s. my picture is my dog Odesa, daughter born there. Stop Wars, cut off the Money Supply.
Use something instead with finite supply, scarce, built for peace and low time preference for all?
THE END
My Take: "Saylor's Comments on Banks as Bitcoin Custodians Makes Sense"
Subhead: "Today versus Tomorrow"
*** Feedback Wanted ***
Recently Saylor made comments on how banks could become Bitcoin custodians and people are in an uproar:
I could see how people at Coinbase/Swan would be concerned but I feel what Saylor says makes sense and would make sense to Satoshi?
Let me explain .
Not thinking of how things are today but tomorrow. For instance, take PayPal, Swan, Strike, Coinbase today. What are the steps you have to do. I will list just one:
1) Link a bank account in order to Wire Transfer or Send some limited daily/monthly amount of FIAT
We already have to have the banks so what if Wells Fargo or US Bank was a custodial of Bitcoin?
You wouldn't have to link a bank account to any other 'Bitcoin custodian' and you could simply buy and HODL Bitcoin in your bank account.
Then, when/if you were uncomfortable or saved enough to make it worthwhile to send to the Base Layer, you could simply send whatever Bitcoin off to Cold Storage? (E.g. Wells Fargo to Green App/Jade)
Exactly like how ayPal, Swan, Strike, Coinbase work today.
I think what people are missing is Saylor made this assumption, at least that is what I am thinking, it is too logical.
These banks are not FTX and would have to be held accountable, just like BlackRock/Fidelity/ARK will be with their Bitcoin spot ETFs. People will want to move their Bitcoin from ETFs, somehow, even if it is huge fees to get to their banks (....and start the Bitcoin loop over again if they want?)
Satoshi wouldn't care, you are still opting out of the banking system via Bitcoin (Portfolio/System Diversification) and can tap into all the benefits of the Bitcoin you know and love.
Further, in the future, we all know the fees to get on the base layer of Bitcoin are going to be expensive and prohibitive, perhaps everyone will only do about 2-5 transactions to the Base Layer the rest of their lives?
(Consolidate those UTXOs that may not have enough to cover the fees?)
Tomorrow's Bitoin will be different than today. Today using banks seems stupid, but tomorrow, having and holding Bitcoin via a bank that you can opt of whenever you want or makes the most cents/sense is fine with me.
Plus, if they try to screw us, Bitcoin Community (nightmare) Class Action Lawsuits and the Supreme Court would have to back logical Bitcoin math, free speech. Bitcoin is open sourced code on a public ledger. Talk about transparency, everything compared to Bitcoin is opaque.
Saylor resonates with me, for years, especially when he brought up 'regulation' and people got mad, then CBDCs will be fine along side Bitcoin, (even though he states no one will want a Chinese/US/Russian CBDC) but if you look at Bitcoin as Digital Property Saylor has said:
"There is room for all of us to win." - Michael Saylor
Including banks, Swan, Coinbase, agree with it or not, all paths lead to Bitcoin in Cold Storage (if you hold it as digital property) or to various wallets if you want to use Bitcoin as currency for a circular economy.
The latter, however, has the most friction, I documented the 'friction' here with a zillion quotes from Saylor with whom I agree:
https://bitcoinapolis.blogspot.com/2022/12/bitcoin-bitcoin-as-digital-property-is.html
Bitcoin is a massive commodity. Like Air and Water. There is room for many options including Banks as custodiana.
Thoughts?
#bitcoin #pleb #grownostr #zapathon
Using Al for memes is always fun but I always wanted to also use it for education, especially for non English speaking Bitcoiners.
With that in mind I made this video with @saylor 's classic "there is no second best" in these languages:
• Spanish🇪🇸
•Mandarin🇨🇳
•Arabic
•German🇩🇪
Enjoy!
https://video.nostr.build/69ba2866de21bb7e556861ae664fb25cb5f595890f7a6d33256434639d082329.mp4
This is simply brilliant...and of course has the humor factor in there.
Education + Humor = Yellow's Gift to the Bitcoin Universe
905 Days
With Bitcoin, how long do people go before they tap out from Bitcoin? If you look at the early Bitcoiners, many have disappeared or gone silent.
At one point Satoshi Nakamoto got to a frustration point where he wrote on Bitcoin:
"If you don't believe it, or don't get it, I don't have the time to try to convince you, sorry." - Satoshi Nakamoto
All you Altcoiners need to get this tattooed on your thighs, facing you so you read it easier. It's for you, not other people.
The Satoshi Pain Threshold where he tapped out. How long have you been publicly supporting Bitcoin? Can you go longer than Satoshi did?
October 31, 2008 - Satoshi Announced the Bitcoin White Paper
April 23, 2011 - Satoshi's last email before he went silent
905 Days
Satoshi made it 905 days before he tapped out for good from the public eye.
When will you go publicly silent on Bitcoin like so many of the previous people did and passed the torch to the next wave of Bitcoiners?
Agree but want to add there are two things better after what you wrote:
1) Helping someone else do cold storage who isn't computer/Bitcoin savvy and then answering their questions
2) Having someone lose or lock out their hardware device and then 'recovering' their Bitcoin with their 12/24 seed phrase on a totally different device.
"Lost my Bitcoin in a Boating Accident" is much funnier once you have taken the Bitcoin cold storage plunge.
All Feedback Appreciated:
November 1, 2023: I am reinstating an LLC (via DBA) and I am starting a venture of helping people onboard to Bitcoin. (Think "Geek Squad" but for Bitcoin.) I will start with my family and friends even though they are pretty hostile right now and I will charge fare fees. Yes, even to my family and friends, as they will soon cross into the "you get into Bitcoin at the price you deserve" Addendum by me: "With or without consulting services"
My services will range from simple purchasing of BTC (custodial) to hot wallets to cold storage (self custody.)
My default hardware wallet of choice is Jade and I will order it up etc for the 'Deluxe' package.)
One time setup fees or ongoing for those who want to be in the know.
Thoughts?
Bracing myself but my opinion is there could easily be a million of us as LLCs/people providing this service especially after studying Bitcoin for 1000s of hours 'out of pocket.'
I would like to specialize in the 'Boomers' and if they need face to face in the Minneapolis area that is fine too.
Message me if you want an email from me.
Regardless, Bitcoin is the coolest thing I have ever worked on, for, and it is a my new life work and passion.
Thank you. Understood, you can apply all this to plumbers, welders, cooks, electricians, carpenters...
We all are going to die, I have been to many people's funerals who rejected Western medicine for Eastern medicine and vice versa.
You spell complemEntary medicine with an 'E' for expensive.
Regardless, we are all one blood test away from your life being upended and your mortality front and center.
It taught me in my early 30s what matters in life, not a whole hell of a lot.
Bitcoin is a hobby. Saylor's "10 steps" are sage advice.
Life is great, I am grateful.
Just coming back from NYC, I have spent the last 26 years in Cancer Advocacy working alongside the best minds in lymphoma. The first 7 years of my advocacy and after firing my wife's first two Hem/Oncs I thought like you. Then she got to the best, after my 1000s of hours of research. After I stopped yelling and bitching, I was invited behind the scenes. I was shocked what I saw, the opposite of what I thought, including some of those at the NCI. They are incredible people, they do care about their patients, I am exhausted after spending 3 16 hour days with them as they 'talked shop' late into the night.
My wife, at 31, diagnosed with incurable stage IVB (bone marrow, all over) should not be here.
She is because of the best minds in the world, not all doctors are equal.
Do you know what you call a doctor with a D average? A: Doctor
We spend our lives trying to find that trusty mechanic yet we go to the closest doctor when we get a cancer diagnosis.
That's wrong, if it's your radiator go to a radiator specialist.
Specialist. Not generalist.
Reality is we spend more trying to kill the people we hate than to save the people we love.
Cancer researchers are welfare recipients in lab coats.
My wife is alive. For those hematologists who understand this but are skeptical, this was before Rituxan. It was IDEC-C2B8 and she had CHOP only, recurrence, then Rituxan, recurrence, then palliative care to buy time with radiation.
NEGATIVE PET.
Shocking.
She has survived Breast Cancer too since then, I am grateful. Grateful for the amazing doctors out there so I give back with 1000s of hours of volunteer time to help those in the cancer community.
Health is way more important than wealth.
Bitcoin is a hobby.
Be thankful.
I call everything a 'post' on Social Mediocre.
Post a Tweet (X)
Post a Note (NOSTR - all caps because it is an acronym)
Bitcoin Documentation of Media Suppression
Today I replied to Cory Klippsten to his post
https://x.com/coryklippsten/status/1717358296972357707?s=20
Cory was censored by "Bloomberg" yesterday. I had explained how the same thing had happened to Jack Mallers with "Business Insider" and he asked for the specifics.
One problem, using X's terrible advanced search (terrible on purpose?) I could not find where Jack then tweeted it.
Luckily this old "coinbits" article had the link
https://coinbits.app/blog/we-dont-believe-you
To this Jack Maller's tweet explaining it
For the past year, riding on the "you get into Bitcoin at the price you deserve" wave, I have been telling all my family and friends I will help them get into Bitcoin. The entire process, start to finish, buying the hardware wallet, but with one catch:
It will cost them, by a factor of how little they supported me, some more than others.
The less support the more it costs.
I am thinking from $200 - $500. (Most people -- I know -- will be $400, strangers will be less.)
I will make this a side hustle for sure to help strangers. There is a market, some people don't want to be experts on their Refrigerators, toilets, HVAC, plumbing, AV, computers, phones etc.
Geek Squad has made billions.
The Bitcoin Brigade will collect billions of sats and there is a worldwide peaceful army of us.
Bitcoin for the people.
I have spent almost 2000 hours to learn everything 'Ledger to Date.' You don't expect a surgeon to do an appendectomy pro bono.
All except this analysis, still spot on, the world has never seen something like Bitcoin. The world has never seen a soothsaying puppet. Combined?
Perfect storm.
https://www.youtube.com/watch?v=-Qvyj21jJ_Q
NInety One years ago, check out this headline:
From December 28, 1932 in the "The Vancouver Sun"
"'Electric Dollar' to End Depression
A new kind of money, the 'Electric Dollar', with its value based on electrical energy instead of gold was proposed as one way of ending depressions....
Documented here on why Bitcoin, Digital Gold 2023, is way better than Analogue Gold whatever BC:
https://bitcoinapolis.blogspot.com/2022/12/bitcoin-digital-gold-versus-analogue.html
Bitcoin only
"Gary Gensler: Past, Present, and Future."
Most people don't know the current head of the SEC, Gary Gensler, was Professor Gensler teaching a class on Bitcoin at MIT five years ago.
Gary 'predicted' what was going to happen with Bitcoin five years ago and HE is the guy in that seat now. Coincidence? Maybe in the interview he answered the questions right to the person above him drilling him on his/her displeasure of Bitcoin? These guys manage up, always and do not care about us. There are millions of these people.
See below for this particular section of this specific talk he gave to his students.
Please read what he stated below and then perhaps compare and contrast him to people you have worked for or with.
Gary Gensler (non-visionary) is the antithesis of Steve Jobs (visionary.)
The Garys of the world are experts on the past and are slow to act or react on anything. Changing minds or set beliefs requires effort. Effort requires work.
As with your life, time solves all problems, people die off waiting for people like Gary to make decisions on anything as he gets his paycheck if things change or stay the same.
Bottom line, no one, the world, has not seen the likes of Bitcoin but that doesn't stop Gary putting it in the same box as everything from the past.
Note how he says, "it takes 15-20 years" and then think, well next year, 2024, Bitcoin turns 15.
Maybe he is simply waiting for his 'I told you so moment?' Self fullfilling Bitcoin prophet Gensler?
These "status quo junkies, slow to change" are my least favorite to work for and with. They need to be challenged and pushed aside, they stifle innovation. motivation, and advancement of better technolgy that is ready for now, not Gary's then.
Your future is bright Gary, rumors are you will a bucking or a promotion to replace Janet Yellen. They will LOVE you, like minded, slow to adapt to change.
You know, human dinosaurs.
GO ARGENTINA, come on United States, make us proud, we need a WIN even being run by all losers.
2. Money, Ledgers & Bitcoin
1,770,963 views Jan 23, 2020 MIT 15.S12 Blockchain and Money, Fall 2018
MIT 15.S12 Blockchain and Money, Fall 2018 Instructor: Prof. Gary Gensler View the complete course:
Fall 2018
From here: https://www.youtube.com/watch?v=5auv_xrvoJk
PROFESSOR GENSLER: I go to conferences sometime and talk about Bitcoin regulation, and they say, well, why can't the government solve this now?
I sort of remind them that it took 15 to 20 years from the introduction of credit cards kind of in the early to mid 1950s and the real take-off in the 1960s-- it was 1974, 1970, '77, the three big credit laws.
So if you're going to be an entrepreneur in Bitcoin, know that it could be 15 years until there's some cryptolaws in the future.
That was the processing machine from the 1950s. I made it too small, sorry.
Visa made it better. And then, of course, that's what we all see today,
how your cards get processed. So the role of money we've talked about.
So I'm going to skip over that. But now the characteristics of money. What makes a good money?
We talked about some of this earlier. It's durable, meaning that that salt cube wasn't the greatest, because if a lot of rain came, that would wash away. Gold and silver, metals, are durable. They're portable. The heavier it is, the less portable it is, and that's why gold was a better money than silver. You could move it-- and better than copper and bronze. It was divisible easily. You could slice things up. Uniform and fungible.
And anyone who's who down the rabbit hole on this stuff, if you really want to learn about money, read about Crawford versus Royal Bank in 1749.
There was a gentleman at the early part of paper money that mailed two 20-pound notes, and he wrote his name on them. They got lost in the mail, and he took the banks to court to say, those were mine, when they were found.
And there was no law in Scotland or in England at the time as to what to do about it.
But if you lose or somebody stole a piece of art, you get it back.
And the law was settled in 1749 that you actually don't get your money back.
Does anybody want to guess as to why the courts-- it was a matter of first interpretation.
The courts had no jurisprudence on this before 1749.
Why did the courts decide that a piece of art was different than currency?
And it goes to the fundamental of what money is, fiat money is.
Anybody want to take a guess as to why the courts-- they could have gone the other way. AUDIENCE: How could you tell if someone really owned money?
How could you [INAUDIBLE]? PROFESSOR: He signed it. Actually, the facts were clear it was the currency he signed.
I'm just helping you out so that-- that's a good point, but he signed it.
NOSTR is an acronym It stands for
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