There is no "I told you so."

There is only, "I wish you listened." Grats to those of you who did.

$100k is an incredible moment in #Bitcoin history, and I feel fortunate to be a part of this with all of you. 🧡✌️

Happy $100k everyone!

"Who's laughing now."

#Bitcoin

I’m not your personal assistant. You can dig that up yourself if you want to discuss it. But when a country imposes a tariff on a product of ours like cars, we don’t impose an identical magnitude tariff on an identical product from them. We retaliate with a tariff on a product that will do similar damage or protection. Since the countries specialize in different things an identical tariff won’t have the intended effect you want to have if you are trying to retaliate. Instead we have to retaliate with a tariff on that countries steel or agriculture or chip manufacturing.

The Feds Jerome Powell said the below today. I guess I am not a person then. GFY Jerome

“People use Bitcoin as a speculative asset. It’s like gold, it’s just like gold—only it’s virtual, it’s digital,” Powell said. “People are not using it as a form of payment or a store of value. It’s highly volatile. It’s not a competitor for the dollar; it’s really a competitor for gold.”

You are living through the largest scale genocide in human history.

Threats of violence are used for bargaining and leverage. You are assuming like a good libtard that the other party involved, (Russia) won’t fold to US demands.

I think the above argument is dumb. I think it remains dumb when you replace violence with tarrifs and replace Russia with Russia or China or Mexico or Canada.

It’s dumb because if you are unwilling to do the thing you are threatening then you don’t have a credible threat. So if they don’t capitulate then you are locked into proceeding with your threat or else loose credibility. And it’s easy to find yourself threatening what you never intended to carry out and get yourself trapped into harming yourself with tarrifs that you never wanted.

I would be fine with tarrifs in so far as they would be aligned to a consumption tax regime. But as you said tarrifs are being used as leverage here and if we miscalculate and the other party doesn’t budge, or reciprocates, it starts a trade war of increasing tarrifs in a tit for tat manner just like military action does. And ultimately they move in the same direction, you don’t go to war with a trade partner, you end trade first and when there is no more trade to eliminate then you go to war. I would rather leave mutually beneficial trade on the table rather than walk in the direction of war (For China, Russia, or any other Nation) without a real threat to ourselves.

“Look at all the countries that have tarrifs on the US, why is it ok when they do it but not ok when the US does it back?”

There are already reciprocal tariffs inplace between us and those countries. This is a threat to increase. And just like in war an escalation can lead to either capitulation from the other side or reciprocal escalation.

Reciprocal escalation leaves the populations of both countries poorer for each round of tariffs as the prices rise.

The caution against tariffs isn’t because I don’t think there isn’t a chance they will work, it’s that there is a chance they won’t and then we are locked into the absurd threat by politicians in either country unwilling to backdown and look weak.

Do you have the same opinion on threats of violence as you do on threats of tariffs?

They would both be leverage in action.

It’s not the case for example that they are only idle threats, tariffs were levied by Trump, and they were kept in place by Biden.

Tariffs reduce trade.

I’m concerned about the tit for tat growing beyond what individual actors wanted. I’m concerned about the costs of untangling economies. I’m concerned about the costs of permanently not taking advantage of the trade surpluses both countries get when they trade voluntarily, taking advantage of the differences in skills, labor, and capital to allow specialization. I’m concerned that tariffs will make everything more expensive fundamentally because it’s going to be made in places with higher costs to produce the same thing without an increase in quality. This isn’t inflation in the sense of the money supply, it’s restructuring the fundamental way things are produced and where they are produced. I’m concerned if you don’t trade with your enemies you take one stop out of the road to war with your enemies. I’m concerned if you don’t trade with your allies, they will seek trade agreements with your enemies. I’m not a member of the left.

Taxes really suck, but tariffs suck a little less than income tax or property tax.

The legacy media empires are dead.

They don't know it yet, but they are.

They don't understand The Internet, and they never will.

They're dead.

Sometimes I tell people that I first bought bitcoin around $200 and they’ll accuse me of lying lol and I almost want to agree with them because like it does sound fake as fuck at this point.

Feels like a dream or something.

Another lifetime.

Happy Thanksgiving from Hawaii my friends!

Question about tech for kids I can get my 11y/o son into. He likes building things with me and though he’s not computer programming literate I just found out he has a high IQ (somewhere around 150?). I’m not familiar with Raspberry Pi, might you have a suggestion for something fun he could do or make and maybe learn about bitcoin while he’s at it?

I was thinking mining perhaps? Or something that would challenge his thinking.

#asknostr #pleb #mining #raspberrypi #bitcoin

ps. those of you who do some amazingly creative and productive dev things, I thank you for your work in the Light. The dark not so much. I am thankful you’re building cool shit.

Someone should really be reporting on the astronomical rise in auto insurance rates in the USA.

We are getting fleeced with no recourse; we are required to carry it by law.

Why is no one talking about this?