Phil

nostr:nprofile1qqsvf646uxlreajhhsv9tms9u6w7nuzeedaqty38z69cpwyhv89ufcqprpmhxue69uhhyetvv9ujuumwdae8gtnnda3kjctvqyg8wumn8ghj7mn0wd68ytnhd9hx2kz4jk3 Jack, always enjoy the pod. How do we reconcile what feels like a liquidity spell these past few months, with what is objectively an ATH in global M2? FWIW, tons of liquidity in the commercial banking space. Spreads extremely thin and all credits oversubscribed, it seems.

Gold is clearly a massive beneficiary of central bank buying. It’s the right asset for the current time: history of monetary use, embedded in the existing system, large market cap, easily and demonstrably controlled in the past. Bitcoin may never receive the same benefit. But it’s clearly a huge upgrade for the sovereign individual: easily transferred, divisible and verified, not easily seized or controlled. For these reasons, central banks may never buy and accordingly we may continue to trail gold in market cap for a long time. But who cares?! We have a near-perfect currency for humanity that will protect us from government debasement and theft. That’s more than good enough for me.

I am not an ultra-high-net-worth individual, but I spend a lot of time with this community given my profession. I have about a dozen instances in the past month of such folks finally getting off zero, or substantially increasing existing bitcoin positions. Mostly ETFs, but about 1/3 self custody. A key theme has been unsustainable govt debt and increased distrust from the recent shutdown. But I think there’s also a feeling that Bitcoin is about to get started on a run. Interesting times.

nostr:nprofile1qqs9xtvrphl7p8qnua0gk9zusft33lqjkqqr7cwkr6g8wusu0lle8jcprpmhxue69uhhqun9d45h2mfwwpexjmtpdshxuet5qyvhwumn8ghj7mn0wd68ycmgv43kktndv5hhyetvv9usf8x8ph how do you turn off notifications for people “going live”? I checked Settings / Notifications and don’t see that option anywhere. Thanks!

nostr:nprofile1qqs0fkyh0y2genfytjx4py229p8avtvhev8mdzme0fc0yjsh9dfzmwgpz9mhxue69uhkummnw3ezuamfdejj7qgewaehxw309ac8yetdd96k6tnswf5k6ctv9ehx2ap0ywtmfq I detest Instagram, but I would highly suggest you create a burner account and check out Land Cruiser Heaven. Incredible restoration shop, and they sell some vehicles too

So much energy seems to be wasted on the “is Bitcoin a SOV or currency” debate. When merchants or wholesalers with pricing power—due to unique products, scale, service, etc.—start demanding Bitcoin for their goods and services, the people will use Bitcoin. Until then, it will be the weaker currency. What we can do to speed up this process is orange pill more merchants and wholesalers, and build the tech rails on which this system can thrive.

Fold Bitcoin gift card is such a scam. $200 in Bitcoin purchased for me as a gift on Aug 18. Given to me today, so I redeem it on the app. They take a $25 (!!!) fee and convert at today’s (higher) price. 12.5% fee. Messed up, Fold.

1 sat = 1 cent ($1M Bitcoin) is only an 8.7x from here. That’s nuts

I really enjoy listening to Jordi Visser. Enough that I’ll even listen to Pomp’s podcast to hear Jordi