Yes, Bitcoin will probably make you rich, but it’s real value is in lowering your time preference so you don’t want that luxurious lifestyle anymore anyway.

Wealth is intimately tied to access to scarcity. This is why gold was money. But in the second half of the twentieth century, due to capital controls and the fiat standard, gold became more difficult to access. Therefore, anyone trying to preserve their wealth had to access scarcity in other ways. The scarcity that the last few generations relied on was job scarcity. Wealthy people in these generations worked in fields that are artificially restricted in supply (lawyers, doctors primarily). To obtain these jobs, you have to be accepted to highly competitive schools and take on a lot of debt. Due to these artificial constraints, supply is reduced, and salaries are higher. These lawyers/doctors are telling their children to do the same because job scarcity is the best scarcity they know of. Because gold was largely off the table and bitcoin didn’t exist yet, a highly specialized job was just about the scarcest thing you could get your hands. This is advice for the 20th century, not the 21st century. We have bitcoin now - the scarcest thing in human history.

There is no singular “market.” There are only individuals acting in their own self-interest. In aggregate, these individuals’ preferences form supply and demand curves. Proposals to regulate the “free market” are, by definition, proposals to override the will of the people.

If I meet my future great-grandchildren and never get divorced, my life will be more than a success.

Fiat gives the government a back door into your savings

The experts told us Trump was a Russian agent. The experts told us that two weeks of lockdowns would slow the spread of COVID. The experts told us that Ukraine would defeat Russia. And now the experts are telling us we need to bomb Iran and if you ask any questions, you hate America? Got it. 🫡

They lied about Libya. They lied about Iraq. They lied about Afghanistan. They lied about Syria. But surely they’re telling the truth about Iran, right?

If the New York Times is still in business, you’re not late to bitcoin.

The first phase of waking up is extremely lonely. You have your old social circle but new opinions. You stop seeing eye-to-eye with people you used to always agreed with. You wonder if you’re the crazy “conspiracy theorist.” Then, you meet new people that reassure you that you are not, in fact, crazy. This doesn’t mean you have to abandon your old friends, but after you wake up, you also need new likeminded friends to keep you on the right path.

it’s incredibly frustrating that the conservative pundits compare the federal deficit to a business or household in debt. This false equivalency gives false hope that the debt can be resolved with fiscal conservatism. Sure, you shouldn’t look to Congress as your models for personal finance, but “reckless spending” is not the core driver of the federal debt. The US is 37 trillion in debt because when you issue the reserve currency, you need to supply the world with your currency, and therefore, run structural trade deficits. NO POLITICIAN WILL FIX THIS. ONLY A NEUTRAL RESERVE ASSET WILL FIX THIS.

Just learned that only 7-8% of the American colonists rebelled against Britain. This is a reminder that we don’t need a majority. An intolerant minority can and will change the world.

Normies prefer certain slavery to uncertain freedom.

The price of bitcoin is your ego.

For every one podcast on BTC security, you will find ten podcasts on BTC price predictions. Should be the other way around.