"A Swiss bank account is like having your bitcoin on an exchange"

My old mental model was that gold was used throughout history because there was no alternative and that fiat was necessary to match credit availability to the higher rate of growth in the 20th century enabled by technological advancement. The main thing that cured me of this illusion was becoming educated about how historically the misallocation of credit has been far more destructive than lack of credit. The other thing was something that nostr:npub1h8nk2346qezka5cpm8jjh3yl5j88pf4ly2ptu7s6uu55wcfqy0wq36rpev said about how deflation is a signal that growth has already occurred. That sent me down a rabbit hole of just thinking from first principles, and seeing the connection between technology and price deflation. This seems obvious once you realize it, but I can distinctly remember this not being obvious to me back in like 2019. It's interesting that bitcoin is a technology that is upstream of an intellectual movement.

The deflation being bad argument may have started as a post facto way to justify policy but many educated people now believe this earnestly.

As for the threat of government fiat monopolies, do you mean that most people just look at it from a pragmatic standpoint and think, they ain’t gonna let that happen?

If that’s the case I think it’s in a different class in the sense that critics have to at retreat to arguing with respect to outcome instead of correctness.

I agree and understanding this historical context is what led me to change my mind

Years ago I bought into the idea that deflationary currency was unworkable because it would make raising capital too hard—that inflationary money was a necessary evil because to do otherwise would be to set a floor on interest rates equal to the real purchasing power accrued simply by holding the currency. I would guess that this remains the number one misconception among informed, intellectually honest critics of bitcoin.

It got a lot more expensive since last year. From what I understand buying the rail pass vs just buying individual tickets is about the same now.

Totally agree by the way, we need a solid UX to catch the people fleeing Reddit

The Satellite communities are getting a major upgrade soon. We’re building a dedicated app

If??

nostr:note1mhgxhuxe9hqgw65s25wsduyvyrzgevlcdmed0temxs5cjusq30yqdyrgqm

Thank you I love to hear that 🙏

They’re really making this easy for us aren’t they?

Cool

nostr:note1g998j0qvwwwv505unkkecewhnxnyte77agsmks7qqrtjnwkcx0vq8pdn35

The dematerialization of *social capital*.

Censorship resistance provides a medium of exchange, web of trust a store of value.

I'm increasing convinced that's what's really going on here.

Sorry just saw this note, added to TODO!

Seems that in general the only perfect antidote to degeneracy is perfect fungibility because people will attempt to speculate on anything that can be uniquely labeled. Not sure about bitcoin, but as least nature (layer zero) has achieved this, e.g. there’s no such thing as “rare joules”

Me and nostr:npub1ye5ptcxfyyxl5vjvdjar2ua3f0hynkjzpx552mu5snj3qmx5pzjscpknpr are building it

Good to hear it uses NDK, I came here to ask that!

lmao yeah I had forgotten about that!

Are you using ‘sqlite3’ or ‘better-sqlite3’?

If you enable write ahead logging better-sqlite3 is about an order of magnitude faster.

I’ve also heard that Bun’s built in bindings are even faster than better-sqlite3 but I haven’t tested it myself

(optimistically)