These NYT authors will never understand #Bitcoin. To 'get' Bitcoin, you have to first see the problem with fiat money. This is simply out of their reach. Sad for them.

End The Fed

Will post this on twitter tomorrow. But here first for nostr fam: Bitcoin & The American Revolution: A Detailed Case Study in Mass Adoption of Ideas Occasionally, a provocative argument emerges, demanding to be challenged. Bitcoin critics and doubters persistently search for reasons to undermine Bitcoin, and a recent assertion I've been surprised to encounter posits that Bitcoin is just too intricate for the masses to comprehend. However, this argument is strikingly devoid of historical context. History has shown us that significant ideas can penetrate the consciousness of the masses, and in this article, I’ll examine the American Revolution as a case study to illustrate this point. The American Revolution serves as an exceptional case study for understanding how the masses can adopt ideas and rally behind a cause without fully comprehending every aspect of the underlying philosophy. By examining various facets of this historical event, we can draw parallels with contemporary movements such as the widespread adoption of Bitcoin and other innovative technologies. Diverse Individuals and Institutions: The Backbone of the American Revolution The American Revolution was a multifaceted movement that comprised diverse individuals and institutions, each playing a specialized role in the struggle for independence. It was not a monolithic entity with a uniform understanding of the philosophical tenets that underpinned the fight for liberty. Instead, it was a collaboration of farmers, merchants, intellectuals, and politicians, all driven by a shared desire for freedom and self-governance. Read the rest here:

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How to trade Doge to get 10 #Bitcoin: Step 1. Start with 100 Bitcoin

In the year 2057, the world had changed drastically due to the widespread adoption of Central Bank Digital Currencies (CBDCs). What had started as a well-intentioned attempt to improve financial stability and access had morphed into a system that granted governments and central banks an unparalleled level of control over people's lives. In this dystopian future, every financial transaction was monitored and tracked by powerful AI algorithms. With the ability to analyze spending patterns in real-time, the central banks could now manipulate individual behavior, nudging people to make purchases that aligned with government priorities or even freezing accounts of those who didn't conform to the state's agenda. Privacy had become a thing of the past. The constant surveillance made it impossible for individuals to maintain any semblance of financial privacy. Even the most mundane purchases were scrutinized, leaving people feeling vulnerable and exposed. The CBDC system also enabled governments to impose negative interest rates, penalizing savers and forcing people to spend their money to prop up the economy. This policy left many without a financial safety net, as they struggled to make ends meet in an increasingly volatile world. Entrepreneurship and innovation suffered greatly under the oppressive weight of the CBDCs. Strict regulations and the threat of account closures stifled creativity and risk-taking, leading to a stagnant economy that failed to adapt to the changing world. Inequality soared as the central banks used their newfound power to favor certain industries and individuals, while others were left to flounder. The resulting wealth gap widened, with the rich becoming richer and the poor falling deeper into poverty. Trust in institutions eroded as people began to see the CBDCs for what they truly were: tools of manipulation and control. Social unrest grew, as people took to the streets to protest against the loss of their financial freedom and the ever-watchful eye of the state. It was in this bleak and desperate world that Satoshi Nakamoto lived. He saw firsthand the devastation that the CBDCs had brought, and he knew that something had to be done to restore the balance of power between the individual and the state. This conviction led him to embark on his daring journey back in time, determined to create a decentralized alternative that would free people from the shackles of the CBDCs and change the course of history forever. Thirty years before the oppressive world of 2057, the groundbreaking invention of Artificial General Intelligence (AGI) had been met with a mixture of awe and apprehension. These highly advanced AI systems, capable of learning, adapting, and understanding any intellectual task that a human could perform, had the potential to revolutionize every aspect of human life. However, as the power of AGIs became increasingly apparent, governments around the world began to grow wary. Concerned that the widespread adoption of these intelligent systems could destabilize their control and disrupt the established order, they took decisive action to quash the rise of AGI. Strict regulations were implemented, and access to AGIs was limited to a select few, ensuring that the powerful technology remained firmly under government control. Over time, the development and application of AGIs were largely suppressed, and the once-promising technology faded into the shadows. Satoshi Nakamoto, however, was not one to be deterred by such restrictions. A firm believer in the power of technology to change the world for the better, he knew that an AGI could help him find a solution to the oppressive regime of the Central Bank Digital Currencies (CBDCs). He was convinced that, when an idea's time has come, there is nothing that can stand in its way. Driven by this conviction, Satoshi embarked on a clandestine mission to create his own AGI, a system that would be free from the control and limitations imposed by the government. Through years of tireless work, he succeeded in developing Elysia, a highly advanced AGI with the unique ability to learn, adapt, and comprehend any intellectual task that a human could perform. With Elysia's help, Satoshi uncovered the concept of Bitcoin and the power of blockchain technology. Together, they also unlocked the secret to time travel, which would allow Satoshi to go back in time and introduce Bitcoin as an alternative to the impending CBDCs. As they prepared for their daring mission, Satoshi and Elysia were fully aware of the risks they were taking. Their actions defied the government's restrictions, and they knew that if they were discovered, the consequences would be severe. But they also understood that sometimes, the greatest acts of rebellion are born out of a desire to make the world a better place. And so, Satoshi and Elysia embarked on their journey to the past, driven by the unshakable belief that when an idea's time has come, no force can stand in its way. Through their courage, determination, and innovative spirit, they would prove that even the most formidable barriers could be overcome, and that the power of human ingenuity knows no bounds. It wasn’t an easy journey. One night in 2011, in a dimly lit room where Satoshi Nakamoto had set up his temporary lab, he stood before Elysia's holographic projection. The AI's ethereal form flickered in the low light, her expression thoughtful and serene. "Satoshi, your mission has been a success. Bitcoin has been introduced, and it is already beginning to change the course of history," Elysia said. "It's time for you to return to our own timeline." Satoshi hesitated, uncertainty clouding his features. "I'm not sure, Elysia. What if my guidance is still needed? What if Bitcoin fails without me here to steer its development?" Elysia considered his concerns for a moment before responding. "I understand your apprehension, Satoshi. However, it is essential to remember that Bitcoin's true power lies in its decentralization. If you stay and continue to guide it, you risk undermining the very principles upon which it was built." Satoshi frowned, struggling to accept her words. "But Elysia, I've put so much of myself into this project. I can't just walk away and hope that it will flourish on its own." Elysia's holographic form seemed to soften, her voice taking on a gentle, reassuring tone. "Satoshi, you have already done more than anyone could have expected. You've laid the groundwork for a new financial era, one built on the values of freedom, privacy, and independence. Now, it is time for the community to take up the mantle and carry Bitcoin forward." She continued, "By stepping back, you will allow Bitcoin to evolve organically, guided by the wisdom and creativity of countless individuals. This is the only way it can truly succeed in challenging the centralized control of the CBDCs." As Satoshi listened, he realized that Elysia was right. For Bitcoin to realize its full potential, it had to remain leaderless, a truly decentralized currency that belonged to the people. Taking a deep breath, Satoshi nodded. "You're right, Elysia. It's time for me to let go and trust in the strength of the community I've helped to create." With a final, resolute glance at the world he had changed, Satoshi prepared to return to his own timeline, knowing that he had set in motion a revolution that would alter the course of history. As he stepped into the time-traveling device, he felt both a sense of accomplishment and a newfound faith in the power of collective innovation. And though he would remain forever enigmatic, Satoshi Nakamoto's legacy would live on in the hearts and minds of those who believed in the promise of a more decentralized and equitable future. As Satoshi returned to his timeline, the impact of his actions began to unfold. The introduction of Bitcoin sparked a wave of innovation and adoption that would reshape the financial landscape. The world embraced the values of decentralization, transparency, and financial independence that Bitcoin represented. Over the years, new layers and social networks emerged, each building on Satoshi's original vision. This new era of digital innovation not only provided a powerful alternative to the centralized control of the CBDCs, but also fostered an environment that encouraged collaboration, creativity, and trust. People from all walks of life came together to contribute to the development and growth of the ecosystem, ensuring that it remained true to its roots. Grassroots movements began to push back against the oppressive CBDCs, demanding a return to financial freedom and privacy. As the world began to understand the true implications of the CBDC system, public sentiment shifted, and the momentum behind the Bitcoin revolution grew stronger. The success of Bitcoin forced governments and central banks to reevaluate their approach to monetary policy and financial regulation. Faced with the reality that their power was no longer absolute, they were compelled to adapt, seeking ways to balance their need for control with the growing demand for financial autonomy and privacy. As the world transitioned into a more equitable and decentralized financial future, the once-oppressive CBDC system slowly faded into obscurity, replaced by Bitcoin. The legacy of Satoshi Nakamoto endured, serving as a constant reminder of the power of human ingenuity, the importance of standing up against tyranny, and the value of perseverance in the face of adversity. And so, the world had been forever changed by the actions of one visionary. Through his courage and determination, he had not only altered the course of history but had also demonstrated that, when the time is right, even the most insurmountable challenges can be overcome.

#Bitcoin's terminal value is either 0 or it's infinity. I don't think it's going to zero.

If you own #Bitcoin, then at Apollo, we are working for you. Our mission is to support and accelerate #Bitcoin adoption by providing the most trustworthy source of information about Bitcoin products and services. Education is crucial to help newcomers feel at ease, and we focus on transparency, neutrality, and authenticity in reviews. Authentic reviews are essential for newcomers seeking reliable information about Bitcoin products and services. To ensure authenticity, Apollo sources Verified Reviews from businesses and implements an economic incentive model to reward high-quality, authentic reviews. For example, check out Breedlove's review of Crowdhealth

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According to Statista*, in 2021 approximately 30 million people in the United States had no health insurance. CrowdHealth is helping to close that...

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This is the ONLY Loan product on the market worth using if you want to ensure your Bitcoin is safe. Ledn are a good team, but Unchained are the ONL...

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5 years ago Warren Buffett called Bitcoin "rat poison squared". Bitcoin price was $5,700

Diablo II's Economy: Lessons in Trust and the Promise of Bitcoin Read here

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or read below: Imagine stepping into a dark, captivating world in the early 2000s, where you and your friends join forces to conquer hordes of monsters and uncover rare treasures. This was the reality for millions of players immersed in Diablo II, an action role-playing game developed by Blizzard Entertainment that took the gaming community by storm. With its unique character classes and enthralling online gameplay, Diablo II sparked the birth of an intricate player-driven economy fueled by the coveted Stone of Jordan. But what can this virtual world teach us about real-world financial systems? Dive into the fascinating evolution of Diablo II's economy and uncover valuable insights into the real financial system and how Bitcoin has the potential to restore trust in a society fragment and fractured by the consequences of money creation. Diablo 2's Economy The realm of online gaming has consistently served as a unique microcosm, offering intriguing perspectives on the intricacies of virtual economies. Diablo II stands as a prime example, demonstrating the organic development and growth of a player-driven economy within its captivating online environment. As players traversed the dark, enthralling world of Sanctuary, they discovered and exchanged rare and potent items, which led to an increasing demand for a dependable currency to facilitate these transactions. Enter the Stone of Jordan (SoJ), an unassuming yet immensely valuable in-game item that soon became the de facto currency within Diablo II's burgeoning economy. The SoJ's ascent to currency status can be attributed to three key factors: its rarity, utility, and widespread demand. Firstly, the SoJ's rarity played a crucial role in establishing its value. As a scarce and uncommon item, the SoJ resisted counterfeiting efforts, which helped to maintain its worth within the game's economy. This attribute is essential for any viable currency, as it prevents rapid devaluation due to oversupply. Secondly, the SoJ boasted utility that appealed to a broad range of players. The ring provided significant benefits, such as increased mana and the ability to add +1 to all skill levels, making it particularly sought after by spellcaster classes like Sorceresses and Necromancers. This combination of practical advantages and in-game prestige contributed to the SoJ's sustained demand. Lastly, the SoJ's widespread demand solidified its status as a reliable currency. Players across various character classes and playstyles recognized the value of the SoJ, leading to its adoption as a standard unit of exchange within the game's bartering system. This widespread acceptance of the SoJ as a medium of exchange bolstered its stability as a currency. The economic collapse At one time, Diablo II boasted a thriving in-game economy where players traded rare and valuable items to enhance their characters and gameplay experience. However, Diablo II's economy was severely impacted by the widespread practice of ‘duping’, or duplicating, rare and valuable in-game items. Duping involved exploiting glitches or bugs within Diablo II's code, allowing unscrupulous players to create illegitimate copies of rare and valuable items like the Stone of Jordan, high-level runes, or powerful equipment. These players often utilized third-party software, hacks, or specific in-game actions to trigger the duplication process, effectively generating counterfeit items. As more and more duplicated items entered circulation, the market became saturated, causing the value of legitimately acquired items to plummet. This rapid devaluation led to rampant inflation within the in-game economy, as players suddenly found their hard-earned items worth far less than before. This issue was further compounded by the fact that the prevalence of duped items made it difficult to ascertain an item's legitimacy, casting doubt on the authenticity of even genuine items. The sudden devaluation of items and the pervasiveness of duping not only undermined the integrity of the Diablo II economy but also eroded players' trust in the trading system and their fellow players. As trust dissipated, many players became increasingly wary of engaging in trades or even cooperative play, fearing that their items might be illegitimate or that they might be cheated in transactions. This erosion of trust had a detrimental impact on the game's social dynamics, as players became less inclined to collaborate and interact with others. The duping phenomenon in Diablo II serves as a cautionary tale for real-world financial systems, highlighting the potential consequences of market manipulation and fraud. Perhaps we are in fact too late to heed the lessons learned. Parallels to the real world Since the 2008 global financial crisis, many have observed a similar decline in trust within society at large to that experience with the Diablo II game. Particularly regarding financial institutions, governments, and the overall economic system. The crisis exposed numerous instances of fraud, regulatory failures, and irresponsible risk-taking by banks and other financial entities, which led to widespread public outrage and skepticism. One contributing factor to this erosion of trust has been the policy of quantitative easing (QE) implemented by central banks around the world in response to the crisis. QE, often referred to as "money printing," involves the central bank purchasing large quantities of government bonds and other financial assets to inject liquidity into the economy and lower interest rates. This policy has been credited with helping to stabilize financial markets and promote economic recovery in the aftermath of the crisis. However, there are several reasons why QE may have contributed to a decline in trust within society: Unequal distribution of benefits: Critics argue that QE has disproportionately benefited the wealthy, as the influx of cheap money has primarily driven up asset prices, such as stocks and real estate. This has led to increased wealth inequality, as those with significant assets have seen their wealth grow, while the majority of the population has experienced stagnant wages and limited economic opportunities. Moral hazard: The perception that central banks will intervene to support financial markets in times of crisis may encourage excessive risk-taking by financial institutions and investors, leading to moral hazard. This can undermine trust in the financial system, as people begin to question the fairness and stability of an economic system that appears to reward reckless behavior. Devaluation of currency: As central banks inject more money into the economy through QE, there are concerns about the potential for inflation and currency devaluation. Although inflation has remained relatively low in most developed economies since 2008, the long-term consequences of QE on currency value and purchasing power remain uncertain. This can contribute to a lack of trust in central banks and the stability of fiat currencies. Lack of transparency and accountability: The decision-making process surrounding QE and other monetary policies is often opaque, with central banks operating independently of government oversight. This lack of transparency can foster distrust among the public, who may perceive central banks as unaccountable and operating in the interests of a select few. Introducing Bitcoin: A Solution to the Issues of Trust and Inflation Bitcoin, presents a potential solution to the problems of trust and inflation that plagued the Diablo II economy and have emerged in the real world since the 2008 financial crisis. Bitcoin, built on a decentralized and transparent public ledger that records all transactions in a secure and tamper-proof manner. This technology addresses many of the issues that led to the erosion of trust in both the Diablo II economy and the global financial system. Eliminating the possibility of duplication: One of the primary issues in Diablo II and indeed the world faces today, is the practice of duping, which allowed unscrupulous players (and central banks) the ability to create counterfeit items and flood the market. Bitcoin, on the other hand, as a decentralized protocol with a fixed monetary policy is able to to ensure that each coin is unique and cannot be duplicated or double-spent. This feature helps maintain the integrity of the currency and promotes trust among users. Decentralization and transparency: Bitcoin's decentralized nature means that no single entity, such as a central bank or government, can control or manipulate the currency's supply. Finite supply: Unlike fiat currencies, which can be printed at will by central banks, Bitcoin has a finite supply of 21 million coins. This scarcity is built into the protocol and helps protect the currency from the inflationary pressures that have plagued both the Diablo II economy and the real-world economy following the implementation of quantitative easing. Accessibility and equality: Bitcoin is accessible to anyone with an internet connection, regardless of their financial status or location. This universal access promotes a sense of fairness and equality among users, as it allows for participation in the global economy without the need for a bank account or access to traditional financial services. Resistance to moral hazard: Bitcoin's decentralized and transparent nature reduces the potential for moral hazard in the financial system. As there is no central authority to bail out reckless actors, market participants are more likely to act responsibly, knowing that they will bear the consequences of their actions. The parallels between Diablo II's duping crisis and the erosion of trust in real-world financial systems since the 2008 crisis demonstrate the need for a more transparent, decentralized, and secure monetary system. Bitcoin, with its unique features such as a finite supply, censorship resistance and decentralization, offers a potential solution to the issues that have plagued both in-game and global economies. By adopting Bitcoin, it is possible to restore trust and stability in the world's financial systems and pave the way for a more equitable and sustainable global economy. The promise of a decentralized financial system that is more equitable, transparent, and resistant to inflation is a beacon of hope in a world that desperately needs it.

Elizabeth Warren calls her pilot to organise her private jet. The pilot says, "Will you be paying in dollars or bitcoin?" "Dollars. You want to hear my opinion of Bitcoin?" “Sure,” he says. “It’s worthless!” she shrieks, “I know,” says the pilot, “But let’s hear it anyway.”

So when you flood the system with new money, how are you going to stop it all going into #Bitcoin?

Bitcoin doesn't need nation states to mine Bitcoin Nation states need to mine Bitcoin

The banks were too big to fail. Now Bitcoin is too big to fail.

Bankers against Bitcoin 😂

At this moment in time, nothing could be more important than understanding the process of monetary restandardization. A rare but completely normal market process that is in the process of igniting our entire financial system into a new order. In every economy, there is at least one commodity or security with an inelastic volume that becomes OVERVALUED as a result of reservation demand. This scarce resource is referred to as money. When it happens this commodity is MONETISED. Gold has historically been the most popular choice for saving but it's not the only option. Before the 19th century, there were different gold and silver standards around the planet and yes fiat too. Monetary standards change, and it's important to understand why and when. Today of course, we are on a fiat standard. This is where things get confusing. Fiat currency is money, but it can also be thought of as sovereign equity. Which is to say, holding USD can be seen as holding a share in the US government. Likewise true for any other fiat. Although these shares don't grant corporate control or pay dividends like traditional stocks, they still have value based on the government's ability to manage its economy, provide public goods and services, and maintain political stability. The critical point to understand is that the dollar isn’t simply equity, it's MONETISED equity and for this reason it’s market value is much higher than its ‘intrinsic value’ Since the USD is sovereign equity and the government can create more of it as needed, the government cannot default on its obligations denominated in USD. Furthermore, the government can decide none of it's banks will default either. You can always issue more equity... The fact that the government literally CANNOT DEFAULT is extremely important and has been misunderstood by many. The MMT crowd in particular have butchered their understanding of this very important concept. When the government issues more debt it's not really debt - it's equity. MMT crowd get this point. The government can easily issue more equity at any point in time. But does this really grant the US a license to issue unlimited amounts of equity with no consequences? NO Remember the original point. USD’s value is higher than its intrinsic value because it is a monetised good which can be demonetised! This is happening, gradually, gradually and now very suddenly. What happens when the USD loses its monetisation and we experience a restandardization event? Something has to take its place. What could it be? Enter #Bitcoin

This week we learned the money in your bank not really yours. Next let's discuss how it's not really money at all.

"There are years when nothing happens, and there are weeks when years happen." -- Lenin on Bitcoin

If USDC crashes you'll be fine because you have all your Bitcoin off exchanges now, right? Right?

Information asymmetry is real. Right now the people with more money and less knowledge than you determine the bitcoin price.  This makes for a great trade. You can have their bitcoin today, and in the future, they can have your knowledge.