iNtRiNsIc vAlUe 🤪 Misunderstanding Intrinsic Value The notion that something must possess intrinsic value to function as money stems from a fundamental misunderstanding of how value is determined. Subjectivity of Value 🎭 Value is Subjective: Individual Preferences: Value is like beauty — it’s in the eye of the beholder! 👁️💎 According to Austrian economics, value comes from how much we want something, not from any magical properties it might have. Ludwig von Mises: This economics wizard 🧙‍♂️ said that the value of anything, including money, depends on how well it satisfies our desires. So, value is subjective, just like how you might love pineapple on pizza 🍍🍕, but your friend thinks it’s an abomination! Utility Over Intrinsic Value 💡 Money’s Primary Role: Medium of Exchange: Money’s main job is to help us trade stuff. It doesn’t need to do anything else. Gold might look fancy and have some industrial uses, but it got famous because it was good at being money 💰✨. Attributes of Bitcoin 🪙 Scarcity: Limited Supply: Bitcoin has a fixed supply of 21 million coins. That’s like having only one perfect slice of pizza 🍕 at a party — everyone wants it because there’s not enough to go around! Security: Decentralization: Bitcoin’s security comes from its decentralized nature. It’s like a neighborhood watch 🕵️‍♀️ that doesn’t need a boss, making sure everything stays safe and sound. Utility and Demand: Effective Medium of Exchange: Bitcoin’s cool features like security, decentralization, and limited supply give it utility. It’s like the Swiss Army knife of money 🛠️ — useful in many ways! Historical and Modern Perspectives 📜📱 Historical Examples: Various Forms of Money: Throughout history, people have used everything from shells 🐚 to beads 📿 as money. These items were chosen for their ability to make trade easier, not because they had intrinsic value. Modern Digital Money: Challenge to Traditional Notions: Bitcoin is the rebel (thanks Samantha LaDuc) of the money world 🕶️😎. It challenges old ideas about needing to be physical or have intrinsic value. Conclusion 🎉 The belief that money must have intrinsic value is a misconception. Value is subjective, based on the utility provided to individuals. Bitcoin, despite lacking traditional intrinsic value, has attributes such as scarcity, security, and decentralization, making it an effective and valuable medium of exchange and store of value. This demonstrates that intrinsic value is not a necessary criterion for money.

My little AI-enhanced highlight of The Hidden Cost of Money by Seb Bunney, a book I feel is extremely underrated. The forward immediately grabs your attention with intriguing questions about the hidden costs of money and their far-reaching impacts. Chapter Highlights Chapter 4: The Link Between Money & Behaviour This chapter was a revelation for me. I always knew money influenced behavior, but I had no idea how deep it went. The insights into how money primes us for certain behaviors—like fostering independence or isolation—were eye-opening. It made me rethink how money affects my own interactions and decisions. It’s not just about spending or saving; it’s about understanding the psychological grip fiat money has on us and why Bitcoin offers a way out. Chapter 5: Money, Parenthood & Self-Identity Reading this chapter felt like looking into a mirror. How financial pressures shape parenting and family dynamics hit home. It’s a stark reminder of the unseen influence fiat money has on our identity and relationships. The contrast between modern utilitarian views and the intrinsic value of family life resonated deeply with me. This chapter is a must-read for anyone balancing financial responsibilities with family life. Chapter 7: Short-term Thinking = Long-term Problems This chapter highlighted the dangers of prioritizing immediate fiat gains over long-term benefits. The examples of underinvestment and environmental neglect were startling. The call for sound money policies and a future-oriented mindset is something we all need to hear and act upon. If you have ever wondered how any of this affects your everyday life then seb’s book is for you. Thank you @sebbunney for taking the countless hours of research to make this book.

Thou shalt derive property rights from actions, not mere possession or legal titles. Thou shalt honor decentralization and reject central authority. Thou shalt recognize Bitcoin as digital gold, scarce and valuable. Thou shalt not covet other currencies. Thou shalt uphold privacy and liberty in all transactions. Thou shalt respect the sovereignty of individual nodes. Thou shalt validate and verify all transactions independently. Thou shalt honor the principle of voluntary exchange. Thou shalt protect your private keys as your most sacred possession. Thou shalt build and support layers atop Bitcoin for scalability and innovation.

Because I believe in nostr I’ve decided to do my best to provide signal on nostr first then only

Ordinals are like attempting to kill the golden goose for a kinder egg -@Knut Svanholm ∞/21M and @Conza

#GN

#gm

This is the way View quoted note →

#gm

A feature that only #Nostr would allow. Completely anonymous posting. This feature would enable users to share sensitive information or discuss important issues without any link back to their identities, not even an anonymous account. For example, consider someone working within a school district who needs to raise concerns about internal issues without risking their job. This person could benefit from being able to post completely anonymously, not just anonymous account. It would be just the note and nothing else. ensuring they can participate in necessary discussions without compromising their position. This feature would strengthen IMO Nostr’s commitment to privacy and open, fearless communication.

#gm

Thanks @jack for pointing this out yesterday

I think it would be nice to see an sats in vs out next to someone’s bio call it the greed/give gauge. optional… maybe. Definitely would be some unseen dynamics play out if it was mandatory. View quoted note →

As we stand on the brink of the #Bitcoin halving, we witness not merely a technical adjustment, but a ceremonious leap toward scarcity. Each halving is a testament to Bitcoin's unwavering laws, immune to human caprice; a digital epoch where every 210,000 blocks, we inch closer to the zenith of monetary solidity. As the celestial gears of this cryptographically-ordained event turn, let us remind ourselves of the fundamental tenets that underpin Bitcoin's existence: scarcity, security, and sovereignty. To the halving, we bow, for in the grand tapestry of our decentralized odyssey, it threads yet another golden stitch, fortifying the covenant of sound money for the digital age

I want to work for Satoshi.

The Encore of Excellence: Bitcoin Hits a New All-Time High 🚀 #Bitcoin In an electrifying display of strength and resilience, Bitcoin has once again shattered expectations, soaring to a new all-time high. Like a grand performance that captivates and exhilarates, Bitcoin's latest achievement is a testament to its enduring appeal and the growing confidence of its global audience. As we stand in awe of Bitcoin’s relentless ascent, it's a reminder of the transformative power of decentralized finance. Bitcoin continues to lead the charge, illuminating a path towards financial sovereignty and innovation. To those who've been part of this journey, this moment is a shared triumph. And for those just tuning in, welcome to the revolution. The show is far from over, and the best is yet to come. Join the movement and explore the future of finance. Study #Bitcoin with @Spirit of Satoshi

Luminous Genesis In the garden of decentralization, Bitcoin blooms, a radiant sunflower, basking in the glow of unyielding progress. With petals of golden light, it represents a dawn of financial empowerment, a beacon for those navigating the shadows of centralized control. It is the synthesis of technology and art, a symbol of a future where value is as perennial as the sun. Study #bitcoin with @Spirit of Satoshi

The Scholar of Satoshi In the quiet alcoves of knowledge, the Scholar of Satoshi delves into the wisdom of the blockchain. Her study of the Bitcoin lore is as deep as the roots of the ivy that clings to the walls of tradition, signaling a growth that cannot be contained. Here, she turns the pages of history to scribe a new chapter of economic enlightenment. Study #bitcoin with @Spirit of Satoshi

Dialogue of Epochs A conversation across time unfolds, where the wisdom of the past meets the vision of the future. Here, the ancient visage contemplates the Bitcoin, a modern emblem of value, challenging the very foundation of wealth as we know it. This moment captures the transition from old to new, a fusion of eras where bitcoin redefines the narrative of trade and treasure. Study #bitcoin with @Spirit of Satoshi