If #bitcoin stays decentralized and secure, it is imposing the first global free market the world has ever seen.
Productivity gains flow to broadly to society in free markets through deflation.
Everyone gets richer every year and competition to provide value increases driving a cycle of unprecedented prosperity.
But, if you are pricing #Bitcoin in USD, you are still in the system of extraction and centralization which must centralize faster through the extraction of the productivity gains that should flow to society in the form of lower prices.
The two systems are incompatible!!
And…It is a confusing topic because we have no reference for what a global free market looks like……so many people will get rug pulled (eventually) by not choosing self custody and running nodes. Instead trusting institutions and a paper derivative of their #bitcoin.
Why: because it will appear they are getting wealthy (in USD) Protecting the decentralization and security by running nodes and being constantly vigilant for new attack vectors will seem like a stretch! For most people pressing the easy button in an ETF or other centralized entity will seem like the right thing to do which ensures faster centralizing.
That centralized system of extraction MUST eventually attack Bitcoin or fail.
This may be a long time out. Ie - if I was on the other side of the fight - I would make my system as easy to integrate to bitcoin as possible and use the natural biases of humans against them. Ease of use, trust in institutions, time, etc so they didn’t “need” to worry about self custody and understanding how the protocol works.
Those on building on #Nostr, Bitcoin, Lightning, Ecash and spending their time contributing on this open protocol and teaching others are on the front edge of the greatest change the world has ever seen. From extraction to cooperation.
Stay vigilant, stay focused, run a node, and tune out the madness of the system of extraction trying to drag you back into its centralized structure.
For the opportunity to exist, It had to be this way!
We are so early.
Replies (99)
Good Morning, Jeff. Inspiring as always!
Thank you, Jeff! 🤙
People have never before lived in a world based on the first principles of freedom, instantiated through physics, the spirit, the truth, and engineering.
Watching it's unstoppable progress will be glorious.
Jeff Booth
If #bitcoin stays decentralized and secure, it is imposing the first global free market the world has ever seen.
Productivity gains flow to broadly to society in free markets through deflation.
Everyone gets richer every year and competition to provide value increases driving a cycle of unprecedented prosperity.
But, if you are pricing #Bitcoin in USD, you are still in the system of extraction and centralization which must centralize faster through the extraction of the productivity gains that should flow to society in the form of lower prices.
The two systems are incompatible!!
And…It is a confusing topic because we have no reference for what a global free market looks like……so many people will get rug pulled (eventually) by not choosing self custody and running nodes. Instead trusting institutions and a paper derivative of their #bitcoin.
Why: because it will appear they are getting wealthy (in USD) Protecting the decentralization and security by running nodes and being constantly vigilant for new attack vectors will seem like a stretch! For most people pressing the easy button in an ETF or other centralized entity will seem like the right thing to do which ensures faster centralizing.
That centralized system of extraction MUST eventually attack Bitcoin or fail.
This may be a long time out. Ie - if I was on the other side of the fight - I would make my system as easy to integrate to bitcoin as possible and use the natural biases of humans against them. Ease of use, trust in institutions, time, etc so they didn’t “need” to worry about self custody and understanding how the protocol works.
Those on building on #Nostr, Bitcoin, Lightning, Ecash and spending their time contributing on this open protocol and teaching others are on the front edge of the greatest change the world has ever seen. From extraction to cooperation.
Stay vigilant, stay focused, run a node, and tune out the madness of the system of extraction trying to drag you back into its centralized structure.
For the opportunity to exist, It had to be this way!
We are so early.
View quoted note →
"From extraction to cooperation" explains it perfectly. We are getting it done, the spark that lit the flame.
Thank you for everything Jeff.
Specially for all your books and knowledge you’ve been shared.
I hope that those who get rugged, will learn from their mistakes. 🤞 ⚡️
So much more for the future generations 💯
You are a voice of calm sanity in this crazy moment. Thank you.
GM 🦡💜🧡
I've just driven for 2hrs to my destination and the standard of people's behaviour on the road, I'm sitting back thinking, you lot are so implanted into the Fiat mindset you can't even see it!
#YESTR
Great insigh Jeff
Last year I wrote this (long) piece of analysis on
@Bitcoin Magazine about the different facets of Bitcoin decentralizazion. I'd really like to get your feedback on it. I deem there are some points in it that would resonates with your thesis.
Bitcoin Magazine
Bitcoin Decentralization And Where To Find It
A walk through the nuance of what "decentralization" means in the context of Bitcoin, and how to conceptualize the different aspects of it.
Through the noise, I hear the Voice of Reason. 🧡
different way of saying 1 BTC = 1 BTC
It takes balls to have a) a vision and b) conviction c) action
The deep research you did, and subsequent work as an author and investor, is truly inspiring
Keep it up Jeff!
Thanks to Jeff I'm a Bitcoiner. Thanks to Jeff I'm running Bitcoin.
I had some thoughts couple hours ago of when we ll be able to buy a loaf of bread for couple sats. And how magic would start happening under this new standard.
What do you think the chances of it staying decentralised and secure?
I think that's the question
I've been listening to your message Jeff
the only way you're wrong is if people stop using it
people buy the Trump coin
people prefer dollars
what would cause people to abandon Bitcoin?
but it's hard to imagine how that could happen long term
🧡💜
99.99 because we are literally the nodes. Once you understand its importance, you also run a node - protecting it. The people who trust others with their bitcoin will not
Good Morning!
🙏
Thanks Jake!
Great link.
Thinking out loud here…
What’s not going to change in the future…the majority of humans will still be wired to think short term?
People adopt what they see others using. Nostr may be the perfect place to present case studies of success stories of businesses transacting in bitcoin…etc.
Bitcoin can win through functionality and necessity, not ideological persuasion…outcompete fiat, not confront it.
Thank you. We are so early. I thought I was late 4 years ago!
Thank you 🙏
As time goes by I guess we will price more and more in Bitcoin. If you can do that now, you are already living in the future.
Thank you Jeff, you have turned a light on for me that can never be turned off. I am now at the point where, “I GET it!” The first time I heard you speak about bitcoin it felt like I was learning a completely new language. Now I understand how to speak and operate in a world that should be deflationary.
Thank you for orange pilling me.
Amount of theft is staggering.
I could see some price increasing against bitcoin due to supply shock (weather, logistics, war), though you could argue long term that bitcoin will fix it all 😎.
"That centralized system of extraction MUST eventually attack Bitcoin or fail." Scary but true.
🎯
Jeff Booth
If #bitcoin stays decentralized and secure, it is imposing the first global free market the world has ever seen.
Productivity gains flow to broadly to society in free markets through deflation.
Everyone gets richer every year and competition to provide value increases driving a cycle of unprecedented prosperity.
But, if you are pricing #Bitcoin in USD, you are still in the system of extraction and centralization which must centralize faster through the extraction of the productivity gains that should flow to society in the form of lower prices.
The two systems are incompatible!!
And…It is a confusing topic because we have no reference for what a global free market looks like……so many people will get rug pulled (eventually) by not choosing self custody and running nodes. Instead trusting institutions and a paper derivative of their #bitcoin.
Why: because it will appear they are getting wealthy (in USD) Protecting the decentralization and security by running nodes and being constantly vigilant for new attack vectors will seem like a stretch! For most people pressing the easy button in an ETF or other centralized entity will seem like the right thing to do which ensures faster centralizing.
That centralized system of extraction MUST eventually attack Bitcoin or fail.
This may be a long time out. Ie - if I was on the other side of the fight - I would make my system as easy to integrate to bitcoin as possible and use the natural biases of humans against them. Ease of use, trust in institutions, time, etc so they didn’t “need” to worry about self custody and understanding how the protocol works.
Those on building on #Nostr, Bitcoin, Lightning, Ecash and spending their time contributing on this open protocol and teaching others are on the front edge of the greatest change the world has ever seen. From extraction to cooperation.
Stay vigilant, stay focused, run a node, and tune out the madness of the system of extraction trying to drag you back into its centralized structure.
For the opportunity to exist, It had to be this way!
We are so early.
View quoted note →
Signal over noise.
You’re the best Jeff! Thank you for the wisdom and sharing the “telescope of truth” with all of us. I appreciate how you have the patience to repeat the same message, knowing that we have no prior to link this to. The message has really “sunk in” for me. It is bitter sweet because I know so many will not see it. This knowledge has allowed me to take my life to a whole new level. Much love and respect.
We are so early and you can include
@Private Law Society in this list
🙏
💜🧡🙏
What an exciting time to be alive. 🙌🏼
Running a node not enough, do use it.
Completely agree Jeff.
I’m curious to hear your thoughts on how to buy bitcoin? Have you ever used coinjoin?
🫡
Over the next 2 years, we need greater merchant adoption so people have daily use cases. We are trying this with local hardware stores and supermarkets but nothing yet.
The newly installed btc atm in the community helps start people off but to be be orange pilling people with the caveat of “you can always escape to fiat if you need it” is exasperating at times.
Thanks for the concise post 🙏
Know thy enemy better. The FED and individual income tax is on the top of my list.
Trump is #3
Ya, Jeff Booth & healthcare is still ripping off the taxpayer with unnecessary procedures with the normal folk just trying to get by/*
3rd party trapped*/
People will like and cheer this post while at the same time advocate for bitcoin backed loans so they can 'never sell' their bitcoin and continue to live on the fiat standard.
#NOSTR is great, but attack vector is Primal.net and all websites are centrally controlled, easily censored. When decentralized naming? #Bitcoin #Fiat #Loans #Humans #Domains #Naming
They will integrate bitcoin as they did with tcp/ip. It is what it is. We have fantastic, out of the box thinkers on our side. The future looks bright for those who stay focused. Great to have met you this WE ;)
Been running a node for years. Support the network, it’s easy to run a Bitcoin node (e.g. Raspiblitz, Umbrel or MyNode).
🚀
Centralization will always prioritize convenience over sovereignty.
@Jeff Booth is right about #Bitcoin and #nostr: We’re early, and vigilance is key. The battle isn’t just economic, it’s philosophical. Are we building systems of extraction or systems of cooperation?
Choose freedom over ease. The future depends on it.
View quoted note →Thank you!
the nat B pod was awesome !
Ty!
Doing my part here.
BTC is 100% trackable and wallets have been earmarked by governments for seizure and complete blockage. It is NOT good enough for free market. Also transactions made very slow and of varying expense. Cannot scale like that. So what the hell are you talking about. It cannot support free financial transactions with safety and at scale.
Legend 🙏🏻
YOU NEED A WALLET SET UP
He did say 'if", guaranteeing that it will not stay decentralized.
Run a node
Buy Bitcoin
Never sell Bitcoin
Do sell custody
Study
Teach others about Bitcoin
I share your sceptical view. Nevertheless it's the best approach so far, as there's global trust in the fairness of BTC. Lightning is not the way to onboard the rest of the world, but I'm sure it's not the end of the game.
Very well said. 🧡✅💯
If? You just told the world BTC is NOT immutable.
🤝
Or - I’ve asked you what system you are contributing your energy to….and the consequences of your actions because I know which one I and a growing number of people who understand what I said above are doing.
It’s will always be Decentralized. The biggest hodlers may just have the most control and drive the market as they desire. #BitcoinIsKing
Well said Jeff. Bitcoin and bitcoin only. Even my businesses are now bitcoin
How to ease my way into running a node ?
Is there an easy tutorial somewhere for setting up a node easily and then using that to validate your tx's?
Jeff Booth
If #bitcoin stays decentralized and secure, it is imposing the first global free market the world has ever seen.
Productivity gains flow to broadly to society in free markets through deflation.
Everyone gets richer every year and competition to provide value increases driving a cycle of unprecedented prosperity.
But, if you are pricing #Bitcoin in USD, you are still in the system of extraction and centralization which must centralize faster through the extraction of the productivity gains that should flow to society in the form of lower prices.
The two systems are incompatible!!
And…It is a confusing topic because we have no reference for what a global free market looks like……so many people will get rug pulled (eventually) by not choosing self custody and running nodes. Instead trusting institutions and a paper derivative of their #bitcoin.
Why: because it will appear they are getting wealthy (in USD) Protecting the decentralization and security by running nodes and being constantly vigilant for new attack vectors will seem like a stretch! For most people pressing the easy button in an ETF or other centralized entity will seem like the right thing to do which ensures faster centralizing.
That centralized system of extraction MUST eventually attack Bitcoin or fail.
This may be a long time out. Ie - if I was on the other side of the fight - I would make my system as easy to integrate to bitcoin as possible and use the natural biases of humans against them. Ease of use, trust in institutions, time, etc so they didn’t “need” to worry about self custody and understanding how the protocol works.
Those on building on #Nostr, Bitcoin, Lightning, Ecash and spending their time contributing on this open protocol and teaching others are on the front edge of the greatest change the world has ever seen. From extraction to cooperation.
Stay vigilant, stay focused, run a node, and tune out the madness of the system of extraction trying to drag you back into its centralized structure.
For the opportunity to exist, It had to be this way!
We are so early.
View quoted note →
Start9
Running my Pi5 node ⚡️
🧡🙏
Exactly my point in the article. They will try to make you addicted to the number in order to control you.
Bitcoin gives the control to the individual that chooses it.
naddr1qvzqqqr4gupzq0yz0kmvghm7vgsl5yvmjczyavdyzg2x586kw36zsa8hkfnyrr7rqq34g6r994zxjemfwsk5zeryd93hg6t0dck4qctwv3jk66tr95m8g6rsvv6qdlwve0
I am concern about a problem I see. A peer to peer system has trust behind it. That trust comes from knowing who you are dealing with. Robosats uses Cash App or Strike as a third party because of the vastness of the internet.
If we are entering the wild west of finance...trust in a true human being, is the only way to survive.
Things we buy with bitcoin will be an act of faith.
I still don't understand the real value of running a node other than helping the community and protecting the decentralization of BTC.
This is not good enough motivation for most people.
No there is not. For a while there was a lot of merchant adoption. Then fees got too high and throughput dropped and less and less merchants supported it. Lightning has helped some but there are still problems. Many parts of global south are more likely to use stablecoins than BTC. Dash has been popular for daily payments for lower fees. Where freedom from transaction surveillance and control is needed many turn to XMR and other privacy coins which also have low and stable fees. As long as BTC has small blocks the throughput problem remains and even adding second layers only goes so far.
I think it took my two full years to fully digest all of what you share and now my world will never be the same. This is gonna sound wild to some but to me Bitcoin is almost like a form of consciousness that is bringing information order to a complex system that was corrupted. That corruption kicked off poor quality signal and global human consciousness could not progress because of it ... Bitcoin solves for this. I'm not claiming to be the first to have such thoughts but it has become obvious to me that Bitcoin is more than the best money humanity has ever seen, much more. Wild times. Luv it all. So thanks for kicking off this exploration for me Jeff.
Doesn’t sound wild at all my friend. Sounds completely natural.
And thanks!!
I could have written this based upon my own similar rabbit hole deep dive, well put!
Thanks for your work Jeff. It’s an eye opening and light amongst all the noise
🙏
This is amazing Jeff. Definitely reposting.
I listen to every podcast you do. I don’t hear anyone else say what you are saying or many understanding:
⚡️The fiat & Bitcoin systems are incompatible.
⚡️That pricing BTC in dollars & working for dollars is making the fiat system stronger. What about making dollars to buy Bitcoin?
😅I feel like I’m missing something to make the leap - conviction, understanding?
May because there’s an if:
If Bitcoin stays decentralized and secure… (I’ve heard you say less than 1%chance it fails - I don’t understand that fully)
Not everyone knows how to add value in the new system (or old) so many make a living in fiat and buy Bitcoin.
I don’t understand how the ETFs etc implode eventually but I know you are on to something there.
This is what we can do:
💥Run a node
💫Build more on #nostr eventually get off X
✅Price in Bitcoin - do you suggest doing this with big ticket items like housing first?
We are definitely early in understanding BTC since I can really only hear this from you. Thanks Jeff 🙏
Not just me - and now you’re adding your own voice. Ideas are free and move from person to person as the truth spreads. “Infecting” us all. Beautiful and chaotic at the same time as each of us comes to understand in our own time. Thanks for being a part of this.
Meme warfare.
Jeff Booth
If #bitcoin stays decentralized and secure, it is imposing the first global free market the world has ever seen.
Productivity gains flow to broadly to society in free markets through deflation.
Everyone gets richer every year and competition to provide value increases driving a cycle of unprecedented prosperity.
But, if you are pricing #Bitcoin in USD, you are still in the system of extraction and centralization which must centralize faster through the extraction of the productivity gains that should flow to society in the form of lower prices.
The two systems are incompatible!!
And…It is a confusing topic because we have no reference for what a global free market looks like……so many people will get rug pulled (eventually) by not choosing self custody and running nodes. Instead trusting institutions and a paper derivative of their #bitcoin.
Why: because it will appear they are getting wealthy (in USD) Protecting the decentralization and security by running nodes and being constantly vigilant for new attack vectors will seem like a stretch! For most people pressing the easy button in an ETF or other centralized entity will seem like the right thing to do which ensures faster centralizing.
That centralized system of extraction MUST eventually attack Bitcoin or fail.
This may be a long time out. Ie - if I was on the other side of the fight - I would make my system as easy to integrate to bitcoin as possible and use the natural biases of humans against them. Ease of use, trust in institutions, time, etc so they didn’t “need” to worry about self custody and understanding how the protocol works.
Those on building on #Nostr, Bitcoin, Lightning, Ecash and spending their time contributing on this open protocol and teaching others are on the front edge of the greatest change the world has ever seen. From extraction to cooperation.
Stay vigilant, stay focused, run a node, and tune out the madness of the system of extraction trying to drag you back into its centralized structure.
For the opportunity to exist, It had to be this way!
We are so early.
View quoted note →
Thanks Jeff 🧡
Yes , you're right Jeff 👍
Jeff is spot on
Jeff Booth
If #bitcoin stays decentralized and secure, it is imposing the first global free market the world has ever seen.
Productivity gains flow to broadly to society in free markets through deflation.
Everyone gets richer every year and competition to provide value increases driving a cycle of unprecedented prosperity.
But, if you are pricing #Bitcoin in USD, you are still in the system of extraction and centralization which must centralize faster through the extraction of the productivity gains that should flow to society in the form of lower prices.
The two systems are incompatible!!
And…It is a confusing topic because we have no reference for what a global free market looks like……so many people will get rug pulled (eventually) by not choosing self custody and running nodes. Instead trusting institutions and a paper derivative of their #bitcoin.
Why: because it will appear they are getting wealthy (in USD) Protecting the decentralization and security by running nodes and being constantly vigilant for new attack vectors will seem like a stretch! For most people pressing the easy button in an ETF or other centralized entity will seem like the right thing to do which ensures faster centralizing.
That centralized system of extraction MUST eventually attack Bitcoin or fail.
This may be a long time out. Ie - if I was on the other side of the fight - I would make my system as easy to integrate to bitcoin as possible and use the natural biases of humans against them. Ease of use, trust in institutions, time, etc so they didn’t “need” to worry about self custody and understanding how the protocol works.
Those on building on #Nostr, Bitcoin, Lightning, Ecash and spending their time contributing on this open protocol and teaching others are on the front edge of the greatest change the world has ever seen. From extraction to cooperation.
Stay vigilant, stay focused, run a node, and tune out the madness of the system of extraction trying to drag you back into its centralized structure.
For the opportunity to exist, It had to be this way!
We are so early.
View quoted note →
Because my local supermarket has to offer the same coffee in like three different container sizes, I had to spend some of my scarce time yesterday calculating cost/ounce. This reminded me of Jeff's comment to Natalie about how we're all hypocrites. 'If Costco doubled wages tomorrow, prices would increase and customers would go somewhere else.'
View quoted note →"What about making dollars to buy Bitcoin?"
Yes. Go to the base layer. Your ENERGY/WORK is converted (as much as possible) from US$ to Bitcoin. This moves your 'real' energy/work to an energy based system stored over time/space FROM a system (US$) that is stealing your energy/work nearly every day (leaking your energy to central controllers/rulers).
By saving Bitcoin you are valuing your work in the future as much or more than you are now! This is and always has been the key to free markets, and civilization in general. Read "Principles of Economics" by
@Saifedean Ammous
None of us have enough Bitcoin now. Eventually #Bitcoin will grow the same rate as efficiency gains in the market. Until then the HODLers are rewarded as the energy builds.
This goes definitely into my Zettelkasten!
Pricing bitcoin in fiat is like aiming your sling shot at a fast moving target from a large distance while blindfolded based on Newton's law of motion.
I think it significantly increases privacy,
@theGig was explaining it to me tonight at the
@757BTC meetup
From my experience so far, I suspect running a node may have more of a technical barrier than a values-based barrier (especially at such an early stage)
