A few thoughts on the Coinkite fiasco: 1. It's trust all the way down. "Don't trust, verify" is just a meme. Influencers have influence, believe it or not. Take it seriously. 2. Those most hurt by the bug are the most die hard proponents of self-custody. Rugged by blissful ignorance, not an evil bank. 3. Something like three days worth of bitcoin supply were stolen. If you look at the bitcoin price, no one cares. But those ~1500 bitcoins meant so much more than the tens of thousands in MSTR or ETFs. Those coins were the life savings of self-custodial hodlers and they'll likely never be replaced. 4. The idea that most people will self-custody their bitcoin is a fantasy. I hope it's always an option, but we need to be real and ensure we have good, private options for collaborative custody/multisig. Without that, the average person will use ETFs and forget it. 5. The sovereign individual is a myth. It takes a village in all aspects of life, including securing your money. Embrace it. We need collaboration, not isolation.

"The ultimate fate of all intelligent beings has always been to become as grand as their thoughts." (Cixin Liu, Remembrance of Earth's Past)

"We conclude that the concentration of wealth is natural and inevitable, and is periodically alleviated by violent or peaceable partial redistribution. In this view all economic history is the slow heartbeat of the social organism, a vast systole and diastole of concentrating wealth and compulsive recirculation." (Will Durant and Ariel Durant, The Lessons of History)

"He dismisses the idea loftily and informs me I know nothing about it. “The details, yes,” says he, “but this relates to the whole. And of that you are not able to judge. You see only your little sector and so cannot have any general survey. You do your duty, you risk your lives, that deserves the highest honour—every man of you ought to have the Iron Cross—but first of all the enemy line must be broken through in Flanders and then rolled up from the top.”" (Erich Maria Remarque, All Quiet on the Western Front)

"We are acquisitive, greedy, and pugnacious because our blood remembers millenniums through which our forebears had to chase and fight and kill in order to survive, and had to eat to their gastric capacity for fear they should not soon capture another feast." (Will Durant and Ariel Durant, The Lessons of History)

"The risk managers’ job feels strange: As we said, the generator of reality is not observable." (Nassim Nicholas Taleb, Fooled by Randomness)

"And, while every other organism is a factory for converting resources of a fixed type into more such organisms, human bodies (including their brains) are factories for transforming anything into anything that the laws of nature allow. They are ‘universal constructors’" (David Deutsch, The Beginning of Infinity)

Happy Father’s Day! If you have a dad, be grateful. If you are a dad, be a good one. Don’t take either for granted. "No father, no mother. I was three years old when I entered the Los Angeles County foster care system." (Rob Henderson, Troubled)

"Because you do get institutionalized. When you take away a man’s freedom and teach him to live in a cell, he seems to lose his ability to think in dimensions. He’s like that jackrabbit I mentioned, frozen in the oncoming lights of the truck that is bound to kill it." (Stephen King , Rita Hayworth and Shawshank Redemption)

If you’ve ever wondered if our money is debased, look no further than an IPO for a company valued at $1.75 trillion with annual revenues of $0.0187 trillion (and negative earnings).

Reviewing Readwise notes while waiting for a 05:00 flight… "The fact that we had neither nicotine nor caffeine also contributed to the state of apathy and irritability." (Viktor E. Frankl, Man's Search for Meaning)

"Over a cigarette, he considered the nature of the problem and what he might be able to do about it. (Skilled maintainers advise never trying to solve a new or complex problem without a thorough mulling first.)" (Stewart Brand, Maintenance of Everything)

"Entropy increased in the universe, and order decreased. The process was like the boundless wings of the giant balance bird pressing down upon all of existence. But low-entropy entities were different. The low-entropy entities decreased their entropy and increased their order, like columns of phosphorescence rising over the inky-dark sea. This was meaning, the highest meaning, higher than enjoyment. To maintain this meaning, low-entropy entities had to continue to exist." (Cixin Liu, Remembrance of Earth's Past)

"This country which he hated was now his native country, his home. He had lived here ten years, and every particle of his body was compounded of Burmese soil. Scenes like these—the sallow evening light, the old Indian cropping grass, the creak of the cartwheels, the streaming egrets—were more native to him than England. He had sent deep roots, perhaps his deepest, into a foreign country." (George Orwell, Burmese Days)

"In Ethiopia, it is the ability to run in a way that protects your own *and others’* energy that is seen as the primary skill of an endurance athlete." (Michael Crawley, The Ethiopian Running Secret)

"The conquest of the earth, which mostly means the taking it away from those who have a different complexion or slightly flatter noses than ourselves, is not a pretty thing when you look into it too much." (Joseph Conrad, Heart of Darkness)

Marry a woman who wants homemade burgers for Mother’s Day supper

"Like the human brain, the market economy is an information processing system." (Dan Davies, Lying for Money)

"And while having kids may be warping my present judgement, it hasn't overwritten my memory. I remember perfectly well what life was like before. Well enough to miss some things a lot, like the ability to take off for some other country at a moment's notice. That was so great. Why did I never do that? See what I did there? The fact is, most of the freedom I had before kids, I never used. I paid for it in loneliness, but I never used it." (Paul Graham, Having Kids)

"The final point is that scale matters when it comes to governance. I have an aphorism phrased by friends as follows: I’m a libertarian at the national level, a Republican at the state level, a Democrat at the municipal level, and a communist at the family level." (Nassim Nicholas Taleb, The World in Which We Live Now)