Stock market has circuit breakers to halt trading when values collapse too fast. Could it be any clearer that this is a scam?

Upon the tariff news, the intellectually curious went back to their Mises/Rothbard/Hazlitt books to see what the greatest minds in economics have to say about the topic. But that’s too much work for most people. Instead, they turned on their TV to see what the “authorities” are saying.

If they advertise to you, their value proposition is insufficient

A no-coiner buddy of mine was telling me this week that bitcoin couldn’t work because humans can’t help but corrupt everything. I told him “I think you’ll learn otherwise over the next decade”. I was wrong. He might learn otherwise over the next few weeks.

As long as taxation/inflation is the norm, people are going to fight about what the proceeds should fund. But the answer to that question can’t be given by any one person. When people are free to spend money as they choose, they necessarily spend money towards the things they value most. Therefore, the only way to know what people value most is to let them spend their own money as they see fit rather than taking it from them via taxation/inflation. #AustrianEconomics

Is anyone getting the “is now a good time to buy BTC?” texts yet? #asknostr

Reading Human Action. I tried a few years back but couldn’t get through it. This time around, I’m realizing Mises is more of a statist than I thought. That being said, he set the pins up for Rothbard, #AustrianEconomics

Private property rights are more than just a collective illusion. If you follow the logic to its natural conclusion, it’s the only place you can arrive. By the process of elimination, you can prove that private property is a fundamental axiom for humanity. The alternative to private property is collective property. Goods are utilized in accordance with the desires of their owners. If we presume that property is collectively owned, this means that you would need everyone to agree on how to utilize every good. It must be a consensus. Otherwise, certain individuals are deprived of their share of the “collective” property rights. Practically, this is impossible. If all 8 billion people on earth had to agree on which food got eaten by whom, humanity would starve to death. Any ideology that invariable leads to the destruction of humanity is undeniably anti-human. Collective ownership, therefore, is an anti-human concept. An anti-human concept cannot possibly form the foundation of a prosperous society. We can then conclude that property must be privately, not collectively owned. #AustrianEconomics

When you think from first principles, the only place you can arrive at is Austrian Economics. I have never met someone who began at first principles and ended up a Statist. Understanding the basics of human action is not all that difficult. The problem is not intelligence. The problem is courage. Most people are scared to think from first principles because they are scared of where it might lead them. They are afraid that they will arrive at conclusions that their friends and family might not approve of. #AustrianEconomics #Bitcoin

When the price pumps later this year, the no-coiners will start listening to bitcoiners more. Theyll realize that if the bitcoiners were right about bitcoin, maybe they’re right about nostr. Nostr activity goes up with the bitcoin price. One way X could mitigate this is by introducing their own fiat zaps to compete, but I doubt they’ll have the foresight to do this. Even if they did, nostr still has the advantage of decentralization.

Just found out what S&P stands for. You can’t make this stuff up.

At what stack size would you recommend multi-sig vs single-sig+passphrase? #asknostr

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the future is now.

Guns, Guns and Steel goes into great detail about why certain societies have thrived and others have been conquered. The main takeaway is that geography is probably the main driver. While useful, this book is explanatory for times when property is largely physical/tangible. It does nothing to explain or even anticipate a time when property is digital. When property is digital, it doesn’t matter who has the horses, who has the gunpowder, and who has the domesticated animals. What matters is whether you possess wealth and influence in the powerful domain which, as Bitcoiners know, is transitioning to cyberspace. Praise Guns, Germs, and Steel for its explanation of the past, but be skeptical of its predictive power going forward. #bookstr

The first time I read The Fiat Standard, I skipped the chapter on Fiat Architecture. Just didn’t seem interesting/relevant. Now I get it…