Network Effect #AES #Bitcoin §61 It is a phenomenon and a wonder. Understanding network effects can be the difference between becoming a sovereign individual or remaining part of the herd. Your alignment with a network effect may provide exponential productivity.

Digital Transformation #AES #Bitcoin §60 Digital transformation began in 1959, when Fairchild’s Jean Hoerni invented a transistor structure and in 1960, Fairchild created the first integrated circuit with four transistors.

Decentralized AI or Centralized AI? #AES #Bitcoin §59 Decentralized AI will come by design, not by default. But if it happens, it will grow dominant. This is one of the most important aspects of zero-tax Bitcoin. And it will accelerate the velocity of value beyond imagination.

Bitcoin Is the First Example of a Decentralized AI #AES #Bitcoin §58 Mycelium is an underground decentralized neural network; symbiotic Bitcoin is similar to mycelium. There are many good articles on this topic. By the way, a mushroom is the fruit of a mycelium network. The mycelium network and trees have a symbiosis that can be described as a superorganism.

STEMM, IP, and the Pursuit of Knowledge #AES #Bitcoin§57 STEMM stands for Science, Technology, Engineering, Math, and the extra M is for Manufacturing because manufacturing is very important for building surplus, tradeable commodities. Capital. A huge variable for the Wealth of Nations.

Real Estate Age #AES #Bitcoin §56 More millionaires have been created in the past one hundred years from real estate than any other industry. Real estate is riding a bow wave of financialization and population growth. Financialization is good for the hierarchy, bad for the next generation.

The Industrial Age and Industrial Capital… #AES #Bitcoin §55 There is a greater question. Will AI be centralized or will AI be decentralized? If decentralized, knowledge work will continue to grow. Zero-tax Bitcoin is our best hope for a decentralized singularity.

Capital Is Shifting over Time #AES #Bitcoin §54 Before and during Jericho, there was a conflict between the hunter-gatherer and the farmer. Cain the farmer and Abel the shepherd. Metaphorically speaking, the farmer killed the shepherd, just like the barbed wire killed the free-ranging cowboy. There is a similarity between the walls of Jericho and barbed wire. Tearing down the walls of Jericho repeats the same Cain and Abel metaphor. The Walls of Jericho falling could be remembered as The Shepherds Strike Back.

#AES #Bitcoin §54 Before and during Jericho, there was a conflict between the hunter-gatherer and the farmer. Cain the farmer and Abel the shepherd. Metaphorically speaking, the farmer killed the shepherd, just like the barbed wire killed the free-ranging cowboy. There is a similarity between the walls of Jericho and barbed wire. Tearing down the walls of Jericho repeats the same Cain and Abel metaphor. The Walls of Jericho falling could be remembered as The Shepherds Strike Back.

Traditional Social Security #AES #Bitcoin §53 In the past, land, sheep, cattle, and agriculture were capital. It was traditional social security. Generational wealth, not centralized entitlements. In Uganda, for example, ancestorial lands remain a tradition. Ancestorial private property is social security.

Capital Etymology #AES #Bitcoin §52 In our hyper-financialized, fiat world, it’s easy to lose sight of what built wealth in the first place. Adam Smith’s Wealth of Nations, published in 1776, was a good framework contributing to the U.S.’s success over the past 250 years. Adam Smith defined capital as "that part of man's stock which he expects to afford him revenue."

Capital Etymology #AES #Bitcoin §52 In our hyper-financialized, fiat world, it’s easy to lose sight of what built wealth in the first place. Adam Smith’s Wealth of Nations, published in 1776, was a good framework contributing to the U.S.’s success over the past 250 years. Adam Smith defined capital as "that part of man's stock which he expects to afford him revenue."

WHAT IS CAPITAL? #AES #Bitcoin §51 We are most happy when we are productive. Capital is a force multiplier for human productivity. Capital starts with surplus commodities. Fungible value, such as barley, cattle, or a case of good wine without sulfates. Tradeable surplus. Tradeable assets.

#AES #Bitcoin §50 Unit of Account As Bitcoin’s inflation rate moves to zero, ideal money will become the best: • Store of Wealth. • Medium of exchange for large transactions. • Medium of exchange for everyday transactions. • Unit of account…a natural step as Bitcoin layers accelerate the velocity of value.

#AES #Bitcoin §49 Medium of Exchange for Everyday Transactions Bitcoin’s first-layer network is not practical for buying a cup of coffee. Lightning Network is one example of a second layer. There will be many second layers enumerated in satoshis or sats. There are 100 million sats per Bitcoin.

#AES #Bitcoin §48 Medium of Exchange for Large Transactions With Bitcoin, there is no international border concept. No transfer limits. With Bitcoin, more than one billion dollars is transferred from the U.S. to anywhere in the world for less than one U.S. dollar, and within three confirmations, about thirty minutes, the transaction is considered immutable. No authority in the world can censor, change, or reverse that transaction on Bitcoin’s first-layer network.

#AES #Bitcoin §47 Store of Wealth Bitcoin is a superior store of wealth to all other forms of money, including gold. The decline of the Roman Empire was characterized by the steady debasement of the currency. The U.S. Empire is following the same path as the Roman Empire and the Soviet Union. No empire lasts forever.

#AES #Bitcoin §46 Bitcoin Burns the Present for the Future Bitcoin is the perfect battery. A perfect capital flywheel. Nothing is lost. Not one Satoshi. It does not leak your precious time, your energy, or your value. Your value does not melt nor evaporate. The decentralized network and Proof-of-Work protect your value. In the future, you will be able to spend your value, your energy. Central banks, their cronies, and other fiat cartels don’t like the twenty-one million fixed units and don’t like Proof-of-Work because they can no longer spend your future. Bitcoin breaks the magic money printer.

#AES #Bitcoin §45 Fiat Burns the Future for the Present The U.S. dollar CPI averages 4%, but even this is a low estimate. Central bankers cook the books to hide money printing. They need inflation or debt-based assets collapse. Fiat bankers align with pro-growth anything, including high-fertility organizations.

#AES #Bitcoin §44 BITCOIN’S PATH TO MONETIZATION Fiat can’t compete with other Bitcoin attributes: • Decentralized. • Fair distribution. • Open source. • Public ledger, symmetric information. • No asymmetric trading against the public. • Most important, Bitcoin’s inflation is going to zero. • Without inflationary debasement, fiat debt implodes.