There is no requirement for any Bitcoin treasury to prove they can move their coins in order to tell the world of its value in their accounting statements. Microstrategy, Blackrock, etc. can claim billions on their Balance Sheet today thanks to the trust people have in their Bitcoin. Next cycle, it could be trillions of USD value. However, there is no requirement to prove that they control those coins. The reader of financial statements has to accept the value without that proof. The trillions of dollars on balance sheets will be subject to total and complete write-downs to ZERO in the event that an entity discovers they can’t move the Bitcoin. The incentives are also now for those entities to run Ponzis on their Treasuries and not disclose the loss to the public. A requirement would incentivize companies to implement best practices and reduce the likelihood of such a loss significantly. Be aware.

Here's the Trump game theory: 1. He is viewed as being responsible (right or not) for Bitcoin's price moon when rates drop and his administration stays out of the way. Could take us to 200k - everybody he named at the beginning of his speech will make billions. 2. In 2028, if democrats win the White House, it will be an all out war on Bitcoin to bankrupt Trump, his family, and everyone who funded him (Bitcoiners) 3. Knowing this, Trump spends 2025-2028 printing enough money to either kneecap or bankrupt all of his enemies who could implement #2. You guys see this game playing out?

My biggest takeaways from the Bitcoin Conference 1. Matt Odell can’t take a joke (from a comedian he hired to be on his own show) and it’s actually worrisome to me how bad he is at it. An exercise in humility is warranted given how many people rely on his leadership 2. The next 4 years are going to be the craziest in my 50 years of life and I’m not prepared. 3. Privacy will continue go be reduced to a niche movement. 4, Ross Ulbricht should not be in prison but he became a virtue signal at the conference. Nobody seems to be putting pressure to discuss Samourai when they broke no laws and is a far more meaningful and consequential situation to Bitcoin. 5. There are young guys in the space who inspire the hell out of me and it’s good to know that there are people who will fight the good fight. 6. Bitcoin is great and doesn’t GAF about the circus. It’s the constant.

The “game theory” behind Trump as POTUS with Bitcoin is pretty straightforward but also terrifying. He MUST print enough money to financially obliterate his enemies. He cannot let them live to get in office and have the resources to attack Bitxoin to try and bankrupt him and his family without printing even more money to do so. Bitcoin is the political football. Happy Sweet 16 - you’re in the big time now.

The toughest hustle in America is the semi-pretty married woman in corporate America who spends 2 hours a day making herself “presentable” enough to have self-esteem at her social-engineering job for money she doesn’t really need.

Mathematics is not an expression of truth. It is an offer to adopt a standard framework for a consensus that would confer an agreement close to truth. If people understood that they were part of that network, they would take far more responsibility for it. Instead they are told that they aren’t part of it and never will be and they never gain the benefits of what that network can be capable of. Sound familiar?

The Price of Bitcoin It’s important. Don’t let anyone tell you it isn’t. Just because a metric is flawed, wrong, and demented, doesn’t make it unimportant. It is not the most important thing in our universe. The majority of bitcoin owners are exclusively focused on its price and if it wasn’t flawed, demented, and wrong, they might be right to do so - but they are cannon fodder for the people in the market that can see true signal. It is on the backs of these people that HODL’rs stack their fortunes. But if it’s isn’t the most important thing, then what is? I would say the most important thing that somebody in Bitcoin can focus on is the originality of their worldview and their ability to maintain the conviction of that view over time through cycles. Most people probably think they have an original worldview but they don’t. I talk to more Bitcoiners regularly than most. The overwhelming majority are winning because they chose the right memes. This is easy to do when Clown World is so dominant but this will get harder and harder as Bitcoin fixes that. As the Price of Bitcoin starts to carry more signal, it will require more energy and fortitude to maintain your conviction in your worldview. If your worldview is not your own - it won’t make it. Any part of your view that is borrowed and not internally verified deep inside your soul will eventually be let go. When the world gets hard, and it will, and you’re moved into survival mode, you will end up adopting a very high time preference. Can you really hang on to your stack in the face of such circumstances when your kids need food or medical care? The Price of Bitcoin isn’t the number you can sell it for. It’s the cost it imposes on your life to stay in the game.

It’s good to test your worldview once in a while with normies that you respect. It’s good to have a normie or two that we respect in the world. The echo chamber around Bitcoin can be limiting and powerful. You can make it stronger by stress-testing it in the wild every so often.

Network nodes are equivalence relations - not equalities. No two nodes in any network are equal. If they were then they would only ever need one. Networks grow by creating equivalence RELATIONS among UNEQUAL nodes. A world where everyone is equal is a network with only one node - the one with all the weapons. Equality isn’t just a platonic ideal - it’s a tyrannical psy-op.

Equality vs Equivalence Equality is a myth. A platonic ideal. It has no definition and no rubric for proof. In math there is an attempt to sometimes define a = a but the proof is often axiomatic, or self-evident. Equality is an idea that comes from God. We inherently know it but we cannot define it. Equivalence is what man created to define, verify, and scale our idea of equality. Equivalence is clearly defined as a general relationship that possesses each of the following properties: a) reflexive: an item is “related” to itself b) symmetric: if a is related to b then b is related to a c) transitive: if a is related to b, and b is related to c then: a is related to c Reflexive, Symmetric, and Transitive That’s the best human beings can do to define, explain, and prove equivalence. With equivalence we can work off of a common truth. We can build a consensus and we can share a reality. Equality is absolute without being verifiable. It’s a shared tyrannical illusion. It can exist ONLY in the abstract and has extremely limited meaning and application. Why should we and our children learn mathematics? It’s not to calculate tips at a restaurant or to get a job as a bean counter. It’s to understand the difference between equivalence and equality and be resilient to the Platonic psy-ops that have caused the majority of human atrocities. It’s to be sovereign.

FASBs fair value rule that goes into effect on 12/31 of this year will cause the biggest rugging and devaluation of the financial system since 2007/2008 and will likely make the GFC look benign. Why is this? Because there is no requirement for any company to prove that they can move the coins in their treasury. Therefore if Coimbase loses coins - and doesn’t tell anybody (which they won’t) then Bitcoin will continue to accumulate and appreciate until they can no longer keep the Ponzi alive. By that time one can only imagine what the write-down will be across the balance sheets of every company in the US. It could be many trillions by the time it’s caught. There is a simple solution. FASB can require that a company proves it can move its keys in order to declare the value on its balance sheet. At a minimum, they get a signed statement from their custodian “certifying” that the coins can be moved - or they can be compelled to provide a digital signature. Adding this requirement will not only remove the risk of a trillion dollar write-down of a central custodian- but it will cause massive innovation in the custody space for institutions. It would incentivize the roads to be built and would also incentivize more companies to hold Bitcoin in their treasury. TLDR - there’s no requirement for any company to prove that can move the Bitcoin in their treasury - in order to claim the USD value on their balance sheet - this opens the door to trillions of $$ of write downs if we discover this after hyperbitcoinization.

As much as I cannot stand people discussing Bitcioin in terms of returns (Vomit) - it burns me even more when people describe those terms using bastardized language - either preying on peoples lack of rigor with that language or lacking that rigor themselves. I’m coming to correct people who are misusing the word “asymmetric” with regard to returns. Asymmetric doesn’t merely mean that one side doesn’t match the other. There are already several words for that: unequal, itreflexive, greater than, less than, etc. Symmetry and asymmetry have specific meanings with regard to what they are saying about a relationship. To say 2 sets are asymmetric is to say that one direction says absolutely nothing about the other direction. A hash is asymmetric. Its power is in its absoluteness and rigor. It’s not describing a relationship between two worlds - it uses asymmetry to impose a ruthless fact and to either disabuse people of the notion that there can be any relation in the other direction or challenge them to disprove that notion. The blurring lines between cryptography and finance already do damage to our society - we would be wise to be careful with the language we use to limit the damage.

Anyone here on Nostr want help with code review or any part of a project - hit me up.

Data can be co-opted. Information can not. It takes a life to learn to be information sovereign in a world of co-opted data. Nostr doesn’t fix this. Neither does Bitcoin. They may be helpers. Learning and studying mathematics is the solution and the reason isn’t obvious. It’s along the lines of Plato’s proberb that one must conquer themselves before trying to conquer the world. Mathematics enables one to conquer themselves. This makes you an individual that is very difficult to conquer by others. It makes you strong and powerful resilient. It also build your trust in yourself. Your sovereignty is limited by the trust you are capable of having in yourself. Very few things build that trust, w.r.t. your mind and thoughts like studying math. Removing your ability to do this is how governments conquer you. Making education compulsory and making math excruciatingly painful has successfully deterred nearly 8 billion people from pursuing sovereignty. Once you regain your mind through the study of math, you can begin to learn to distinguish information from mere data, and fight the war against power on your own terms.