Hey Ed, how's Zcash doing? Since you dropped the news about you being the mysterious last ceremony participant, I only hear you talking about Bitcoin. How come? Have you abandoned your private fork?

Hey Ed, how's Zcash doing? Since you dropped the news about you being the mysterious last ceremony participant, I only hear you talking about Bitcoin. How come? Have you abandoned your private fork?

investment real estate is a shitcoin

- can be rugged by local governments incredibly easily

- lack of liquidity, hard to buy or sell quickly

- overvalued due to decades of people trying to escape the losing purchasing power of their shitty money

- will trend to zero when priced in bitcoin

owning your own land is the exception - can still be rugged and will also lose value over time but can provide significant benefits for family security and well being

The US Gov blocked a bill to monitor the billions of dollars we send to Ukraine but passed one to hire 87k IRS agents to track our venmo payments.

I’d they close am to commercial and open to it to amateurs, then we can transmit bitcoin txs over radio 👀

Need to reduce block size to 300kb just to be safe

Back in the 1930s and 1940s, there were a lot of capital controls, lending restrictions, securities restrictions, etc. And it was for two different but intertwined reasons.

One obvious reason was that, among countries involved in trade wars or shooting wars, they wanted to reduce capital flows to the enemy.

A second reason was that, due to the war, sovereign debts became so high relative to GDP that they had to inflate away the debt, which was a form of default. It wasn't just 6102; it was a broad range of controls. Carmen Reinhart described it well as “creating a captive audience” in an

IMF Working paper:

“High public debt often produces the drama of default and restructuring. But debt is also reduced through financial repression, a tax on bondholders and savers via negative or belowmarket real interest rates. After WWII, capital controls and regulatory restrictions created a captive audience for government debt, limiting tax-base erosion. Financial repression is most successful in liquidating debt when accompanied by inflation. For the advanced economies, real interest rates were negative ½ of the time during 1945–1980. Average annual interest expense savings for a 12—country sample range from about 1 to 5 percent of GDP for the full 1945–1980 period. We suggest that, once again, financial repression may be part of the toolkit deployed to cope with the most recent surge in public debt in advanced economies.”

-IMF Working Paper No. 2015/007

Unfortunately, as most here know, both conditions are once again present in the 2020s. The US/Europe vs Russia/China contest is providing a useful excuse for governments to crack down on privacy, p2p exchange, money transfer, etc. Meanwhile, western governments have a similar sovereign debt problem that ultimately necessitates inflating the debt away.

Some of this Operation Chokepoint 2.0 stuff is just targeting scammy crypto companies and things like that. And the SEC enforcement actions are also going after crypto securities fraud and so forth. For bitcoiners, those things are not particularly relevant.

But under the surface, the bigger risk is all of the ongoing pressure on privacy, p2p, and the free flow of capital, including tighter bank restrictions and debanking.