* Firefly III - Great auto personal budget app, use it all the time for both Bitcoin & Fiat accounting.
* Tipi - Great homelab option, Nicolas Meienberger who maintains it is a complete beast.
* The Starr Suite of apps, Sonarr / Radarr / Readarr to fetch media on the high seas.
* Synching - Great file synced, I use it on all my devices.
One thing I worry about is if Bitcoin completely takes over as a store of value it would work rather too well to transfer wealth across generations, to the point where it starts to lead to very long lived dynasties.
Let's assume hyperbitcoinization already happened - I can just hodl, and get a safe, boring 3% real return by my Bitcoin appreciating. As long as you can live on less than 3% of your net worth a year, you are now financially independent. Not only that, but so are your children, and their grandchildren.
In the current systems fortunes have to be invested to keep their purchasing power, so you face *some* risk of loss. But if you hodl, as long as you use a good vault for the storage, there's very little reason any value will be lost to the family stack almost at all.
Not only that, but a relatively small amount of people mostly in the western world have cornered 70% of the supply of Bitcoin. What about if we're correct and this hodler controlled supply is the future capital stock of humanity? Now you have less than 1m people globally who control 70% of the liquid wealth of the world, that's horribly in-egalitarian.
Now maybe we as early adopters of Bitcoin deserve to get filthy rich for launching a new monetary system. But what about your heirs 3 generations down, should they control 70% of all liquid capital in the world?
Fast forward a few generations and you could have a new neoreactionary "noded nobility" class, hoarding most of the wealth, unironically telling the rest of society to have fun staying poor.
All true, although I'm doing it for a long time and not getting rekt, because I understand the risks and I'm prepared for them.
For me it's better to take on a little risk in order not to pay taxes and not give away the upside.
The need to cover the risks is real though. There are more ways to do it, you can even have an option strategy to hedge the risk.
Here's a screenshot from a chapter of Cryptocurrencies - Hack your way to a better life table of content where I describe them in detail.
https://nostrcheck.me/media/public/nostrcheck.me_7761521560205758791689586708.webp
Fair enough. I do like the idea of borrowing instead of selling on paper, just not with a 24/7 margin callable loan. 😰
Personally I would just eat the opportunity cost of selling instead. But I also live in a jurisdiction with no cap gains tax, so YMMV.
Bitcoin backed loans are terrible though - A lot of people where doing this strategy 2021-2022 and most of them got rekt on it.
You need to have the loan be overcollateralized. I.E the Bitcoin needs to be worth 2x the dollar amount or some margin of safety like that.
When the Bitcoin price drops, which it will sometimes do, your custodian will margin call you. That is they will ask you for more BTC to post as collateral, within a short span of time.
If you don't have more collateral AND you are looking at your phone AND you can send it to them within a few hours, they will liquidate the collateral. That means market selling your Bitcoin at the bottom.
Also, you will need to give up custody of your Bitcoin in order to borrow against them, so that the custodian can liquidate you. This also exposes you to all the typical risks of custodians: Fractional reserve, rehypothecation, fraud et cetera.
Just selling your Bitcoin for cash if you need to for major spending is much safer.
Looks like Iris does this. https://iris.to/settings/social_network
Replies from people that are more than two degrees of separation away from your social network that is.
Maybe a web of trust would be a good idea? I.E. hide replies that are not followed by anybody you're following.
Nah how it works is that there's a 75% chance per round after the required ones are done that it sends to the other wallet. So going some extra rounds are expected. Here's the relevant documentation:
https://www.sparrowwallet.com/docs/mixing-whirlpool.html#mixing-to-cold-storage
I've seen you make this argument before Lyn and I'm always perplexed by it. In my opinion while Bitcoin is a politically neutral tool it enforces several political outcomes that are pretty right wing if it succeeds. Small government, sound money, less political intervention in the marketplace to name a few. If you advocate for any of the latter you're by definition not of the left wing as most people think of it so I don't really see how Left leaning Bitcoiner would be a congruent position to take.
TL;DR: Bitcoin == Libertarianism
Just FYI allen you can post blog posts to nostr with https://habla.news for instance, no need for a hell note. 🙂
Not to my knowledge - It's basically just a nostr client that lets you post a long "blog post" message, formatted as markdown. It has the same Value for Value and censorship resistance properties as nostr at large though.
As one of your regular listeners I'd certainly be interested in that! But why not on nostr long form such as with https://habla.news?
Spoken like a man with a net worth of negative 104 m $. 🤣
https://blockworks.co/news/roger-ver-says-he-wont-pay-genesis-20m-for-bad-trades
I think #[3] was working on Coinswap coordination on nostr