Watching today's markets gyrations and MSM narratives change is going to be like watching monkeys trying to launch a rocket in space: so fucking dumb and pointless (even dangerous) but so entertaining.
Tech bros and VCs usually fighting each other (with soft gloves, ofc) for the best morsels of startups were crying their eyes out for a bailout, three days in a row, all in unison.
And they got what they wanted because mummy government can't afford to lose the support of her favorite children: in the Cantilionnaire's Family, we ALWAYS have eachother's back when the FIAT Faucet is in danger of being closed !
Meanwhile the average joe doesn't understand a thing about what's going on, and will be spoon fed the party line: "Banks are systemically important, so we're saving banks with this new marvel of financial engineering, AND we're not raising taxes!"
Average Joe is content with that: His money is safe, and his taxes are the same.
Meanwhile, he wonders why meat and eggs have become unaffordable and why soybug and crickets flour taste like shit... but at least he's now getting a 1% interest rate on his bank account's savings and can use his credit card to get a 19% loan to buy the stuff that inflated 10% since last year and will inflate 10% more this year.
Now I'm just waiting for Joe Biden to read his prompter later today to put the capstone on this shitshow.
Now the Captchas ask you to label AI generated images.
Which means humans are now basically the AI servants.
2023 new FED paradigm:
Create as many money printing programs as possible without mentioning the words “bailout” or “quantitative easing”.
PV.
The FED just bailed every bank with buying worthless bonds at par.
Aka money printer goes brrr
Nominal rates are high but inflation is higher, so you’re still loosing purchasing power.
US banks are now protected since they can redeem their bonds at par, leading to more inflation and more moral hazard.
Eventually inflation becomes so high that people will either riot and ask for a new government that will give them more fiat… or they wake up to Bitcoin and opt out of the ever-harder to spin hamster wheel.
I zap:
-Always when I learn something useful I didn’t know.
-Often when I read about a thought-provoking idea.
-Sometimes for a positive/inspirational post.
Sorry but that’s on you for not abiding with #MarchOffTwitter
“Chancellor on brink of twelfth bailout for banks.”
Fountain podcasts works by taking a cut from your sats when you tip/stream sats and that’s also a good model.
Losing end users isn’t a problem, there will always be new/free clients so everyone will end up using one they like.
Nostr is so early and there are already many good quality clients, so I’d like them to sort their monetization out themselves, and see which business model(s) will win.
Neither decidedly for nor against.
I’d like to give devs more tools to work with layers on top of Bitcoin, but I wouldn’t ever want to fuck up base layer incentives or create unintended consequences.
After digging for a while, I couldn’t find satisfactory answers from any side, so I’m waiting to see more information about that.
Devs could charge a monthly subscription in sats to use their app, they can put some features behind a sats subscription, they can order feature push by bounty amount, etc. #[0] #[2]
Like walking into a restaurant with your family, eating a 5-courses dinner with wine for free, and then complaining to the managers that you wanted a cherry on your ice cream instead of a strawberry.
Breaking : Fuck meta and their panopticon.
The problem isn’t that people think is normal, the problem is that people don’t think, period. Because they don’t know anything about the financial system.
How many people in the American population would understand what you just wrote ? Maybe 5% and I’m being generous.
