Nutz ‘npub1php4h2cn7zlngqc675vmfcthgmsmk9retyq7ez6fw56fyyj77nvqpmea7s@npub.cash’

lukewarm dash seems to be doing real well for himself since going broke

repost for the relays View quoted note →

What is Money?

an annoyance when buying P2P that i always run into, is the liquidity of a lightning balance to post Bond. that's the reason I'm in the trade. I need btc!

just putting it out there... https://www.zapplepay.com/autozap/npub1php4h2cn7zlngqc675vmfcthgmsmk9retyq7ez6fw56fyyj77nvqpmea7s

not sure if i've become pro bitcoiner or the UX is just too slick but Mutiny Wallet @Carman on-boarding process is pretty great! simplicity is key

@jb55 how did you create Dave the damus bot? is it easy enough to do?

muun wallet seems to have risen from the ashes in the form of phoenix

glad to say i am debt free The Fiat Ruins Everything: Unraveling the Impact of Fiat Money - Introduction In this video, we delve into the fascinating insights shared by Bitcoin developer and advocate, Jimmy Song, in his book titled "Fiat Ruins Everything." Jimmy discusses the reasons behind his latest book, its target audience, and the underlying motivation to help Bitcoiners understand the detrimental effects of the fiat system. An Audience Shift Unlike his previous works aimed at bringing non-Bitcoiners into the fold, "Fiat Ruins Everything" takes a different approach. It directly addresses the Bitcoin community, providing them with a comprehensive understanding of the deep-seated issues within the fiat monetary system. The book serves as both a source of knowledge and a moral compass for Bitcoiners, especially in turbulent market conditions. Unpacking Fiat's Consequences The book meticulously dissects the impact of the fiat system at various levels: Individual: Exploring how the lack of a suitable savings vehicle leads individuals into debt cycles. Corporate: Shedding light on how corporations have grown to unprecedented sizes by capitalizing on easy access to debt. National: Highlighting how nations become surveillance states and warfare-driven entities, while simultaneously offering extensive social safety nets. Global: Examining how the dominance of the U.S. dollar as the global reserve currency perpetuates economic imbalances. A Technological Stagnation One striking revelation in the book is the notion of a "competence crisis." It explores the idea that fiat currency's centralizing influence has led to a decline in competence across various industries. For instance, the book compares the rapid development of the original Boeing 747, which took just 18 months, with the modern-day 747 Max, which required a decade of development. This crisis is attributed to several factors: Misallocation of Talent: Highly skilled individuals are drawn to financial and non-productive sectors instead of industries that foster technological innovation. Incentive Misalignment: The profit-maximizing motive often leads individuals away from creating genuinely transformative technologies. Regulatory Hurdles: Stringent regulations stifle innovation and discourage risk-taking. The Nuclear Paradox Jimmy Song further illustrates the competence crisis through the stagnation of nuclear technology. Despite its tremendous potential, nuclear advancements have remained elusive. Engineers who once worked on groundbreaking nuclear projects have shifted their focus to more lucrative career paths. This technological stagnation is evident in the failure to develop nuclear-powered vehicles, despite their game-changing potential. A Shift in Priorities The book "Fiat Ruins Everything" emphasizes the need for a collective shift in priorities. To address the competence crisis and promote genuine progress, there must be a reevaluation of societal values and a redirection of talent towards innovation and problem-solving. In conclusion, Jimmy Song's book offers a thought-provoking perspective on the far-reaching consequences of the fiat system and the urgent need for a rekindling of competence and innovation in society. This article serves as a comprehensive overview of Jimmy Song's book, "Fiat Ruins Everything," exploring its core themes and implications for the Bitcoin community and the broader societal landscape. The Fiat System's Role in Industry Ossification - Introduction This article delves into the far-reaching consequences of the fiat system on innovation and competition within various industries. It explores how government intervention, regulatory privileges, and the lure of easy money have led to an unsettling phenomenon – industry ossification. The Incentive Misalignment One key issue discussed is the misalignment of incentives within the economy. While some argue that individuals are rational in pursuing sectors where financial gains are more readily attainable, this rationale is challenged by the inherent flaws in the fiat system: Misallocation of Talent: Highly skilled professionals are increasingly drawn to sectors that promise quick financial rewards rather than those with innovative potential. Regulatory Barriers: Government and regulatory privileges favor certain industries, discouraging competition in more critical sectors. Fiat Money and the Race for Yield A vital aspect of the problem is the Fiat Casino's low-interest-rate environment, which drives investors towards higher risk, higher yield investments. This includes Venture Capital (VC) funding, which, in recent years, has attracted substantial interest. However, this surge in VC investments may not necessarily translate into genuine innovation. Chasing Quick Returns: VC investments are often more concerned with rapid returns than fostering long-term innovation. Retail Mindshare vs. Real Innovation: The popularity of projects like NFTs and web 3 startups among retail investors does not necessarily indicate genuine technological advancements. Government-Backed Privileges The government's role in industry ossification is significant, particularly in the energy sector. By favoring specific energy sources through regulatory and financial incentives, governments stifle progress in more reliable energy solutions, such as coal, natural gas, and nuclear power. Energy Privileges: Government-backed preferences for wind and solar energy disrupt the energy market, leading to suboptimal choices for the environment. Investment Concerns: Investors in traditional energy sources fear future regulatory crackdowns, hindering innovation in these critical sectors. The Centralizing Force of Fiat Money The fiat system's centralizing force accelerates the emergence of a few dominant players in every industry. These companies utilize their advantages to solidify their positions, further undermining competition. Lobbying Power: Large corporations can afford extensive lobbying efforts to shape regulations in their favor. Acquisition Strategy: The ability to acquire smaller competitors allows giants to dominate their respective sectors. Collusion and Regulatory Hurdles: A small number of major players in each industry can collude and use the regulatory state to create barriers against potential competition. Conclusion The ossification of industries is a direct consequence of the incentives and privileges facilitated by the fiat system. While rational economic actors may be attracted to quick financial gains, it's crucial to recognize that this environment is not truly reflective of a free market. Rebalancing incentives, reducing government intervention, and promoting innovation in critical sectors are necessary steps to counteract this concerning trend. This article explores the impact of the fiat system on industry ossification, highlighting the misaligned incentives, the role of government privileges, and the centralizing force of fiat money in shaping today's business landscape. The Wisdom of Zero Debt: A Bitcoiner's Perspective - Introduction This article delves into the concept of maintaining zero debt and its significance in the context of the modern economic landscape. The speaker argues that having zero debt is crucial in a world rife with financial uncertainties and economic ossification. The Illusion of Keeping up with the Joneses One common argument for accumulating debt is the desire to "keep up with the Joneses." Many individuals succumb to societal pressures and try to match the lifestyles of those around them. However, this approach is critiqued for several reasons: High Time Preference: Trying to match others' lifestyles reflects a high time preference, which can lead to financial troubles. Bankruptcy Risk: Maintaining this mentality can result in excessive spending and, in turn, bankruptcy, especially if expenditures consistently outpace earnings. The Practical Argument: Leverage and Risk One of the practical reasons to steer clear of debt revolves around the concept of leverage and financial risk. The speaker asserts that taking on debt implies being leveraged, which magnifies sensitivity to economic fluctuations and risks. Sensitivity to Price Changes: Debt amplifies the sensitivity to price changes, which can be a double-edged sword. This is true whether it's a mortgage or an investment trade. Risk of Financial Ruin: Excessive leverage can lead to financial ruin, especially if market conditions deteriorate. The Moral Argument: The Dilution Effect A compelling moral argument against debt centers around the dilution effect. The speaker contends that each time new money is created through loans, it dilutes the wealth of those holding the currency. This has far-reaching consequences: Diluting Everyone's Wealth: Taking out loans contributes to diluting the wealth of everyone who uses the same currency, both locally and globally. Impact on Developing Nations: Countries with hyperinflation often experience the most significant dilution, affecting the purchasing power of individuals in those nations. The Sound Money Economy In a sound money economy, which Bitcoin proponents champion, the focus is on financial responsibility, sustainability, and long-term wealth preservation. Those who take on debt for impulsive, non-essential spending find themselves at odds with sound financial principles. Thinking Beyond Instant Gratification: Sound money proponents prioritize long-term financial well-being over short-term gratification. Escape from the Debt Cycle: Zero debt can liberate individuals from the cycle of perpetual borrowing and interest payments. Conclusion In the world of Bitcoin and sound money advocacy, the wisdom of maintaining zero debt is undeniable. It offers financial security, protects against bankruptcy, and aligns with the principles of fiscal responsibility. The allure of keeping up with others' extravagant lifestyles is overshadowed by the benefits of a debt-free existence, reinforcing the idea that zero debt is an ideal to aspire to. This article explores the merits of maintaining zero debt in a world marked by financial risks, the dilution of wealth, and the need for sound financial principles. It highlights the practical and moral reasons behind embracing a debt-free lifestyle, emphasizing the advantages in a sound money economy. Navigating Financial Waters: The Wisdom of Managing Debt Introduction In today's financial landscape, the decisions regarding debt have far-reaching consequences. This article explores the complexities surrounding debt management, providing insights into topics such as the risks of borrowing, the issue of student debt, and homeownership in an ever-changing world. Risks of Borrowing: The Pitfalls of Living Beyond Your Means High Earners Living Beyond Their Means High-earning professionals, including doctors and lawyers, sometimes find themselves living beyond their means despite their substantial incomes. This common scenario highlights the perils of financial imprudence. High Time Preference: Living lavishly rather than saving reflects a high time preference, which can jeopardize long-term financial stability. Bankruptcy Risk: Overspending can lead to bankruptcy, impacting even high-earning individuals. Student Debt: A Perilous Financial Entanglement The Weight of Unbankruptable Debt Student debt presents a unique challenge as it is not dischargeable in bankruptcy. The creation of money for education adds to the money supply, but this form of debt is particularly burdensome. Monetary Enslavement: High levels of student debt can result in a form of monetary enslavement, limiting individuals' freedom and choices. Affecting Political Choices: The burden of student debt influences political decisions, as people advocate for debt relief, potentially perpetuating monetary problems. Homeownership Dilemma: Mortgages and The Store of Value Premium The Real Estate Conundrum Owning a house for one's family is a dream for many but comes with its own set of challenges. Mortgages, in particular, raise questions about financial prudence. High Housing Costs: The surge in real estate prices often results from the perception of real estate as a store of value, making it expensive. Risk and Subsidies: Mortgages are exposed to real estate market volatility, government subsidies, and artificially low interest rates. What to Do in the Current Fiat System? Embracing Alternative Lifestyles and Entrepreneurship For those living in the current fiat-based financial system, practical steps can be taken to navigate these challenges. Rent Smartly: If you cannot afford a mortgage outright, consider renting a more affordable place or exploring housing options in different cities. Embrace Entrepreneurship: Becoming an entrepreneur in any capacity, even in small, value-driven businesses, can provide financial stability and an alternative to high-stress corporate jobs. Expand Horizons: Explore cities worldwide and consider different lifestyles that prioritize personal happiness over conventional paths. Conclusion Managing debt is a crucial aspect of maintaining financial health. With risks associated with living beyond means, student debt, and homeownership in a changing world, individuals must make informed choices to secure their financial future. By adopting a prudent approach to borrowing and embracing alternative lifestyles, individuals can navigate the complexities of today's financial landscape more effectively. In an ever-changing financial world, understanding the intricacies of debt management is paramount. This article provides insights into the challenges of living beyond one's means, the perils of student debt, and the dilemmas of homeownership. Practical suggestions for navigating the current fiat system are also explored, highlighting the importance of informed financial decisions. Navigating the Fiat System: Unraveling the Complexities of Debt Management - Introduction In the realm of finance and economics, the management of debt plays a pivotal role in shaping one's financial well-being. This article delves into the multifaceted issues related to debt, examining risks, leveraging strategies, and cultural influences in the fiat currency system. Risky Proposition: Leveraging Debt for Real Estate Feeding the Fiat System Borrowing substantial amounts to acquire properties in expensive locations can be tempting, but it comes with a plethora of risks. Excessive Risk: Investing in expensive properties can expose you to significant financial risk. Dependency on the Fiat System: High property costs contribute to the fiat system, potentially accelerating its longevity. Playing the Leverage Casino: Betting on Fiat's Downfall The Pitfalls of Shorting Fiat with Debt Some individuals leverage their debt to bet on the devaluation of fiat currency, believing Bitcoin will outperform it. This strategy, however, comes with its own set of dangers. Leverage Long on Bitcoin: Leverage long on Bitcoin can lead to significant losses if market conditions suddenly shift. Existential Risk: Taking on significant loans to invest in cryptocurrencies poses a substantial existential risk if Bitcoin's value drops unexpectedly. Rectifying Financial Mistakes: Getting Out of Debt The Path to Recovery For those already entangled in debt, rectifying the situation demands financial discipline, frugal living, and a focus on savings. Character Development: Bringing consumption forward through loans is seen as a character flaw, emphasizing the importance of delayed gratification. Programs and Education: Numerous programs, like those offered by financial educators such as Dave Ramsey, can help individuals eliminate debt and shift their mindset toward savings. Saving in Bitcoin: Transitioning from conventional savings to saving in Bitcoin can provide long-term financial stability and security. Cultural Impacts of Fiat Currency The Shift in Societal Bonds The ability to borrow and bring consumption forward has transformed societal bonds and behaviors. Reduced Interdependence: The availability of loans from faceless entities diminishes traditional interdependence within communities. Cultural Shift: The borrowing culture has influenced various aspects of society, including dating, marriage, and family dynamics. Conclusion Managing debt within the fiat currency system requires careful consideration of the associated risks, including high leverage and unexpected market shifts. Furthermore, understanding the cultural impacts of fiat currency on societal bonds is crucial for making informed financial decisions. Embracing the path to financial recovery through discipline and transitioning to Bitcoin-based savings can lead to a more secure and responsible financial future. In the complex world of finance and economics, the intricacies of debt management cannot be underestimated. This article explores the risks of leveraging debt, the pitfalls of shorting fiat with loans, and the path to recovery for those already in debt. It also emphasizes the cultural impacts of fiat currency on societal bonds and the importance of making prudent financial choices. As we navigate the fiat system, understanding these intricacies is key to a secure financial future. The Impact of Debt, Fiat Currency, and Societal Transformation Debt and Monetary Enslavement The burden of debt is a pervasive issue in the modern financial landscape, often leading to what can be termed "monetary enslavement." People constantly juggle debt payments, living under the ever-looming threat of losing their assets. Monetary Enslavement: The pressure to repay debts leads to a state of financial enslavement, diverting focus from innovation and entrepreneurship. Immediate Consumption: Excessive debt creates a culture of immediate consumption, eroding financial discipline and familial relationships. Changing Dynamics: Traditional vs. Modern Lending The Role of Family Bonds In the past, seeking loans for major life events like homeownership involved turning to family members. This process strengthened familial bonds and encouraged gratitude. The family unit was integral to ensuring loan repayment, reinforcing the sense of belonging. Stronger Family Bonds: Relying on family for loans fostered stronger connections and the importance of mutual support. Dependence on Fiat Money: The shift to depending on banks and government for loans has weakened familial connections. The Devaluation of Social Bonds The Impact of Fiat Money The introduction of fiat currency has significantly altered human relationships and societal structures, including family, community, and religious ties. The state encourages dependence on its systems over traditional social and familial bonds. Dependence on the State: Fiat currency encourages people to rely on state-controlled systems, diminishing community and family dependence. Family as Assets: In sound money economies, family members serve as valuable assets, forming an interconnected network of trust. The Dystopian Future of Fiat Morality A Glimpse into Predictions Various ominous predictions, once considered extreme, are gradually becoming reality. The state's ever-expanding control and the dilution of personal freedoms are concerning trends, such as the state's involvement in child-rearing decisions and the stifling of dissenting opinions. Hiding Money Printing: Governments conceal the effects of money printing by blaming corporate greed and taking advantage of public economic ignorance. Societal Transformation: The state's desire for control has led to family bonds being viewed as an obstacle to the dependency the state desires. Where to Find "Fiat Ruins Everything" To delve deeper into the issues surrounding debt, fiat currency, and societal transformation, you can find Jimmy Song's book, "Fiat Ruins Everything," in various formats: Amazon: Available in the United States, Australia, and other English-speaking regions. Bitcoin Magazine: Purchase with Bitcoin at bitcoinmagazine.com. Signed Copies: Order signed copies from Jimmy Song's website, Fiat Ruins Everything. Upcoming Releases: Keep an eye out for the upcoming audiobook and ebook versions. Conclusion Debt and fiat currency have far-reaching implications that extend beyond financial matters. They are catalysts for societal change, altering the fabric of family bonds, community relationships, and individual freedoms. As these transformations unfold, understanding the underlying dynamics becomes increasingly important in navigating the complexities of the modern world.

i think my nostr wallet is broken? @jb55 i have the exact same amount of zaps, but the price has gone up?

can anybody loan me 10k sats so i can post bond to robosats for a trade? need that kyc free #asknostr

need 45000 sats on lightning for a p2p trade bounty, can anyone help a pleb out? #asknostr #nokyc

whats the best traveller/nomad bitcoin node setup? @PABLOF7z #asknostr

just when you think you're starting to understand bitcoin a little bit, you then watch something like this The presentation revolves around the multifaceted realm of on-chain privacy in the context of Bitcoin and other cryptocurrencies. It begins by emphasizing Bitcoin's fundamental role as hard money with political implications rather than a mere consumer payments network. The challenges of privacy on public blockchains are explored, considering approaches like CoinJoin and their limitations, such as transaction size, central coordination, and fee-related vulnerabilities. In response, a novel concept, "steganographic decentralized market-based CoinJoin XT," is introduced, aiming to enhance collaborative privacy-enhancing transactions. This approach involves pre-signed transactions, multi-sig UTXOs, and customizable pay join scenarios for improved privacy and safety. Furthermore, complex transaction structures that obscure inputs and outputs to break subset sum analysis are discussed, leveraging inter-participant payments, time locks, and cryptographic techniques. However, potential challenges in incentivizing participants, handling off-chain to on-chain privacy bleed, and addressing market-related issues are acknowledged. The conversation also touches upon ensuring that payments occur only when the receiver delivers the goods, involving "hodl invoices," atomicity, Schnorr signatures, and linearity in signatures. The latter offers a robust approach, even with multiple parties, through commitments and verifiable adapters. Additionally, an exploration of off-chain fee payments highlights their advantages in reducing blockchain footprint and enhancing privacy but underscores the significance of addressing potential payment failures, transaction timing, and backup strategies. Finally, the challenges of quantifying privacy and block space efficiency, particularly in large groups of participants using complex structures like CoinJoin XT, are addressed, emphasizing the impact of adversaries with knowledge about specific transactions and the need for solutions, including markets, to enhance privacy in cryptocurrency transactions.

bitcoin rids us of product obsolescence

bitcoin or shitcoin?

Toward a Node World Order

How bitcoin obsoletes inflation and promotes human flourishing

'Citizens' constant vigilance is more effective in preserving a stable currency than numerous laws and bureaucratic agencies.' The text discusses various topics related to economics, money, and the role of bitcoin. It emphasizes the importance of technological innovation and the accumulation of capital goods and technology for economic growth. It also highlights the role of money as a medium of exchange and the historical use of gold as money. The text mentions the challenges and vulnerabilities of using gold as a medium of exchange and the potential benefits of using bitcoin. It argues that running a full node and holding private keys is necessary for ownership, scarcity, and censorship-resistance in the bitcoin network. The text suggests that bitcoin has the potential to become a global reserve currency and upgrade the economic operating system. It concludes that dependence on bitcoin will grow, leading to increased security and productivity in the economy.

if a build doesn't have to ask for permission then i see no problem in it being on bitcoin a lot of luddites that only want bitcoin used their special way bitcoin is for anyone just play by its rules and we can all get along

pretty nice work on the documentary series @Peter McCormack a good one to send to the normies out there bitcoin does fix a lot, it would seem

fiat sucks use bitcoin