So... Bank runs tomorrow?
Just finished my newest article of Living on Bitcoin. It's more of an open letter to people experiencing a 2008 style banking crisis, to embrace the chaos and find a new way.
Read it here: https://livingonbitcoin.substack.com/p/when-the-banks-break-a-call-to-embrace
GM☕️⚡️🤙
Whose ready for Monday?
https://watcher.guru/news/us-treasury-secretary-rules-out-a-bailout-for-silicon-valley-bank
GM 🤙☕️⚡️
Haven’t been here for a bit. The absolute shitshow on twitter is just way too entertaining right now!
GM ☕️⚡️🤙
People still don’t know what Bitcoin is all about.
How many bank runs gonna happen before people realize the only safe way to hold large amounts of wealth is self custody bitcoin?
https://techcrunch.com/2023/03/09/silicon-valley-bank-firms-reactions/
They'll realize it when it's too late.
The Price We Pay: A Bitcoin Short Story
By Rare Passenger
The cafe was nearly empty, save for two friends sitting at a table in the corner. Alan, a tall "grey man", sipped his coffee while his friend Ben, an average height and sized man, sipped his tea.
"I'm thinking of using Bitcoin for my everyday living," Alan said, breaking the comfortable silence between them.
Ben furrowed his brows. "I don't know if that's such a good idea. I thought Bitcoin was only good for saving."
Alan shook his head. "No, it's much more than that. I've been using it to earn my pay, save, and spend. It's incredible. I've even used it to get out of debt."
Ben leaned back, skeptical. "But what about the volatility? Isn't it too risky to use for everyday purchases?"
Alan shrugged. "The way I see it, the fiat system is just as volatile, if not more so. At least with Bitcoin, I know that my purchasing power will keep increasing. Plus, with more and more businesses accepting it, it's becoming easier to use every day."
Ben still looked unsure. "I don't know, it just seems like a lot of hassle. Why not just stick to using it for savings?"
Alan smiled. "Because I believe in the Bitcoin standard. I want to live my life on my own terms, not the government's. And with the way things are going, I don't think we can trust the government to protect our wealth anymore. Bitcoin is the future, my dude."
Over the next few years, Alan continued to use Bitcoin, while Ben remained skeptical. Alan's purchasing power increased, and he was able to afford things he never thought possible. Ben, on the other hand, continued to hold his Bitcoin but struggled to keep up with the inflation.
As the years went on, the government became more desperate for tax funds. The value of fiat currency continued to decline, causing many to lose faith in traditional currency.
But Alan had already adapted to the new Bitcoin standard. He moved to a more crypto-friendly country and lived a simple but comfortable life. His Bitcoin holdings had skyrocketed, and he was able to live off his earnings.
Meanwhile, Ben found himself in a bind.
He had held onto his Bitcoin for years, hoping to cash in when the time was right. But when he finally tried to sell, he discovered that while the transaction fees were low, the taxes he had to pay were high, and the new regulations made the process confusing and time-consuming as he now needed to become an accredited investor before he could deposit his Bitcoin to an exchange as the new Central Bank Digital Currency would no longer allow normal people to enter or exit Bitcoin. In order for him to become an accredited investor, Ben needed to pay hefty fees which he couldn't afford. Although his portfolio looked profitable, the reality was that inflation had eroded his purchasing power, leaving him in a worse position than before.
Ben's quality of life continued to decline as he operated on a fiat standard. He couldn't keep up with the rising cost of living, and he felt trapped in a world that no longer made sense to him.
The two friends met up again in the same cafe, ten years after their initial conversation.
Alan looked happy and content, while Ben looked haggard and defeated.
"I'm glad to see you doing so well," Ben said, trying to mask his envy.
Alan smiled. "Bitcoin has been good to me. It's not about being rich or having more than you need. It's about having the freedom to live the life you want."
Ben nodded, feeling a pang of regret for not listening to his friend's advice earlier.
The two friends finished their drinks and parted ways, each lost in their own thoughts.
Alan walked away feeling grateful for his decision to adopt the Bitcoin standard. Ben, on the other hand, couldn't help but feel like he had missed out on something important. He spent the rest of his days constantly looking for gains and leverage, always chasing after something that seemed just out of reach.
~Fin
Not only is your phone spying on you, it’s also selling your data to the FEDs.
https://www.wired.com/story/fbi-purchase-location-data-wray-senate/
#[1] sounds like a good topic for a privacy vid.
Not only is your phone spying on you, it’s also selling your data to the FEDs.
https://www.wired.com/story/fbi-purchase-location-data-wray-senate/
GM ☕️⚡️
“All credit is debt.” — Henry Hazlitt
lol 🤣
The FED needs another 9/11