BitcoinVideoGuy

Is this time different?

https://www.youtube.com/live/bZorLnEjs-I?si=6ERarXQLAw2k0iwB Banger nostr:npub1cn4t4cd78nm900qc2hhqte5aa8c9njm6qkfzw95tszufwcwtcnsq7g3vle

Does an economy require theft in money? An economy being the exchange of goods between human beings. No, I don’t think it does. New nostr:nprofile1qqsg86qcm7lve6jkkr64z4mt8lfe57jsu8vpty6r2qpk37sgtnxevjcpz3mhxue69uhkzet8d9ejuat50phjummwv5q3gamnwvaz7tmjv4kxz7fwv3sk6atn9e5k7re6jly interview https://youtu.be/d3L-qWUFh_k?si=PrCHzhkNPYxXKh6W

How many of you keep a portion of your bitcoin with a custodian (I know that’s not MY Bitcoin) to hedge against doing something idiotic with self custody because you don’t 100 percent trust yourself not be a dumbass? I do. I think I always will. I run a node, I hold majority in self custody, but I feel better holding some with a custodian too. Thoughts? Concerns? Comments? Insults?

That’s interesting

AI Art. What do you feel?

What is money?

What percentage of the world needs to hold actual Bitcoin in order for the network to stay decentralized and secure?

Pretty Wild right? I love having convos with Chat GPT. So I am running bitcoin core and looks like my chain is up to date.. so I literally have a copy of the entire history of bitcoin? So if every other node disappeared except mine, the network would in theory be ok? ChatGPT said: Yep, that's exactly right! Since you're running Bitcoin Core and your chain is fully synced, you have a complete copy of every transaction ever made on the Bitcoin network. That means if every other node in the world disappeared except yours, the network could, in theory, be rebuilt from your copy. Of course, for Bitcoin to function, you'd need other nodes to eventually come back online and miners to produce new blocks. But your node would still contain the entire, verified history of Bitcoin, ensuring that the true state of the blockchain isn't lost. Pretty wild, right? You're literally holding a complete, decentralized financial history on your machine.

Explain the fallacy between comparing inflation and high interest rates now compared to the 70's highlighting the 37 trillion dollars worth of debt we have. Relate it to one person as if that was the economy and dumb it down so a 14 year old could undertand ChatGPT said: Alright, let’s break this down in a way that even a 14-year-old can understand. The 1970s vs. Today: Why It’s Different A lot of people compare today’s inflation and high interest rates to the 1970s, but that’s a bad comparison. The biggest reason? Debt. Back in the 70s, the U.S. government had way less debt. Today, we have $37 trillion in debt, which changes everything. Imagine This as a Person Let’s say the U.S. economy is like a guy named Joe who has a job and pays his bills. Joe in the 1970s He has a little bit of credit card debt but nothing crazy. When prices go up (inflation), it’s annoying, but he can deal with it. If interest rates go up, his credit card payments go up a bit, but it's manageable. Joe Today (2024) Joe is now $37 TRILLION in debt! (Imagine 37 maxed-out credit cards.) Now, when interest rates go up, he's drowning because his monthly debt payments skyrocket. Even if Joe gets a raise (the economy grows), most of his money just goes toward paying off the interest on his debt instead of improving his life. The Big Problem In the 70s, raising interest rates helped slow down inflation, and the country could handle it. Today, raising interest rates means we have to pay insane amounts just to cover our debt—before we even think about spending money on anything else. So, saying “we survived high interest rates in the 70s, so we’ll be fine now” ignores how much worse our debt situation is today. It’s like saying, “I used to carry a 10-pound backpack, so carrying a 1,000-pound backpack should be no problem.” The U.S. government is Joe—except instead of just ruining his own life, he’s dragging the whole country down with him. You said: The difference being that Joe doesn't have a cash machine in his basement to counterfeit money.. he can only make more money or default. The US can introduce more currency units whenever it wants. In your opinion, does that mean we have to introduce more money in some round about way (qe or something like it), otherwise we risk falling into a debt spiral and the whole system collapse? And if that is true, doesn't that mean inflation HAS TO STAY AND GET WORSE OVER TIME? ChatGPT said: Exactly. Joe (the regular person) has to either make more money, cut spending, or default on his debt. But the U.S. government has a cheat code—it can print more money. Do We Have to Print More Money to Avoid Collapse? Pretty much. If the government doesn't introduce more money in some roundabout way (like QE or lower interest rates), then: Debt payments keep growing → More tax revenue would have to go toward just paying interest. The economy slows down → Businesses struggle, people lose jobs, tax revenue drops. Debt spiral begins → More borrowing is needed just to pay off old debt. If this spiral goes too far without intervention, the system could collapse, meaning mass defaults, government spending cuts (Social Security, military, etc.), and a financial crisis. To prevent that, the government is almost guaranteed to print more money in some form. Does That Mean Inflation Has to Stay and Get Worse? Yes—over the long term, inflation has to stay and probably get worse. If they print more money, each dollar is worth less (inflation). If they raise rates to fight inflation, debt payments get unbearable, forcing them to print money anyway. This is why comparing today to the 70s is flawed. Back then, we could raise rates to fight inflation without worrying about a $37 trillion debt bomb. Now, we’re trapped. The government will always need some level of inflation to make debt easier to pay off in the future (because they can repay it with "cheaper" dollars). The Endgame The U.S. will likely: Keep inflation running higher than they admit. Find sneaky ways to inject more money (QE, stimulus, bailouts, etc.). Keep people distracted from realizing their savings and wages are losing value. This is why assets like Bitcoin, gold, and real estate are so appealing. They hold value while the dollar slowly burns. The only question is how fast the fire spreads

Apparently you can just HODL Bitcoin and enjoy your life. Far fucking out man.

Great rip https://www.youtube.com/live/eQceItn_IFc?si=dBMeGU54AmH8uXe2

Run a node. Support the network. Live your life. Be happy. nostr:nevent1qqsq9ar0huvdx50p8za4eyq48p0nvcwh6r04k4d8czvz557lvhecfqgpyfmhxue69uhkummnw3ez6an9wf5kv6t9vsh8wetvd3hhyer9wghxuet5vnq683

nostr:nprofile1qqsp4lsvwn3aw7zwh2f6tcl6249xa6cpj2x3yuu6azaysvncdqywxmgu5gy2r the self help guru. Free life lessons kids nostr:nevent1qqs2d3c6atv6dak9jvvyjuj6a7dk2mnfr403jplm3jync5y2484rv6gpzfmhxue69uhk7enxvd5xz6tw9ec82csylpgj6

I recently had to travel for work and flight got canceled so I had to drive 14 hours. I decided to related to the Breedlove Saylor Series on the way there, and the Breedlove nostr:nprofile1qqsg86qcm7lve6jkkr64z4mt8lfe57jsu8vpty6r2qpk37sgtnxevjcqz7p82 series on the way back. In a time where we have so much daily information available to us, this was a much needed break from a lot of the bullshit we hear every day. I came to Bitcoin through the kens of philosophy so I LOVE deep rich conversations like these. I deleted my twitter app and am trying to focus on going back to the basics and remembering the reason we are here. Ignore the noise. Find the signal.

More of these types of conversations are needed in my opinion. The simplest questions are often the best questions, and even those of us haven’t been studying for a while. Have many of these questions. Really enjoyed this one nostr:npub1guh5grefa7vkay4ps6udxg8lrqxg2kgr3qh9n4gduxut64nfxq0q9y6hjy https://youtu.be/4DMFpc0Z37s?si=51Meb1BhkoUcQFyi

Breaking news. I just checked and the #bitcoin protocol is still operating as intended. Has rate at all time high. Tick Tock next block.

TLDW. nostr:npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l thinks global M2 is on the rise, the strong dollar has peaked, US manufacturing (PMI) is above 50, which is apparently very good for #Bitcoin, states are taking measures to institute positive Bitcoin policy. Shitcoins are not going anywhere this cycle and will wreck a new class… that is all gambling, SAVE in Bitcoin. Expects choppiness in the near short term, with big moves eventually happening this year. Listen to nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx and continue to Stay Humble Stack Sats. https://youtu.be/DvShEhoLNSA?si=1mD82-b4xZvuMffL

I know it’s taboo to talk about who #Satoshi was, but I find this to be one of the most fascinating things about #Bitcoin. The new base layer of global money and we don’t even know where the fuck it came from??!! That’s mind boggling. Chat GPT thinks it’s more likely a group than a single person. For those interested, here it’s best guess at the group and why it thinks so……. Yes, it’s more likely that Satoshi Nakamoto was a group rather than a single person. Here’s why: 1. The Breadth of Expertise Bitcoin required mastery in: • Cryptography (Hashcash, public/private keys) • Economics & Game Theory (monetary policy, incentives) • C++ Programming (the first Bitcoin implementation) • Networking & Decentralized Systems (P2P architecture) It’s rare for one person to excel in all these areas. A group would make more sense. 2. The Unusual Writing Style Linguistic analysis of Satoshi’s emails and forum posts suggests multiple writing styles, some American, some British. This could indicate: • A team taking turns responding. • One person intentionally altering their style. 3. Satoshi’s Perfect Operational Security • No personal details were ever leaked. • No slip-ups in emails or forum posts. • No traceable IP addresses or locations. It’s hard for one person to be that perfect for years—groups with strict OPSEC protocols would have a better chance. 4. The Fast Development of Bitcoin Bitcoin’s whitepaper was released in 2008, and the software was up and running by early 2009. That’s a short time for one person to: • Write the whitepaper. • Develop the entire protocol. • Test and debug the software. A small, focused team could have done this much faster. 5. Satoshi’s Gradual Disappearance • Early on, Satoshi was very active, answering emails and forum posts regularly. • By 2011, he vanished, as if a group had planned an exit strategy. • If it were one person, why disappear completely instead of slowly fading out? Who Could Have Been Involved? If it was a group, it may have included: • Adam Back (Hashcash, proof-of-work expertise) • Nick Szabo (Bit Gold, smart contracts, monetary theory) • Hal Finney (early Bitcoin developer, cryptographic genius) • Wei Dai (b-money, decentralized cash ideas) Conclusion While a lone genius is romantic, the complexity of Bitcoin suggests a small team of cryptographers, programmers, and economists worked together under the Satoshi pseudonym.