Fundamentals

https://fountain.fm/show/EUdSfx8792GOAPMKXJwM

Actuary, Market Risk Expert, Coach, Truth Teller, Pleb

Co-Host of Rock-Paper-Bitcoin podcast

Bit by bit, Block by block, We're gonna change the world without firing a shot.

Bitcoin signal is “The Force”

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[email protected]

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Last Notes

2024-08-31 12:53:11

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I prefer the entertainment I grew up but this is pretty funny.

2024-08-25 01:28:53

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It was incredible. I thought I was in an an episode of Star Trek. I think you’re gonna like how we covered it.

2024-08-24 17:22:27

I’m boosting this now so my Nostr friends see this: We covered this episode on Rock Laper Bitcoin. If you’re seeing this , you definitely want to listen to this and a couple of the preceding eps
https://fountain.fm/episode/17sC5k1I3ItYD2AlPuCU
#nevent1q…6ftn

2024-08-05 18:26:14

naddr1qqjrzs69g5ervvpe94z5gs2z956rw3fk94q5232x95enw3zzgcurjdeexaznwq3q2eml5kmtrjmdt0h8shgg32gye5yqsf2jha6a70jrqt82q9d960ssxpqqqp7txqutavg

2024-08-05 05:58:07

note1lx7kvq5l85m57exyw58rqzhd9r0d6c7zzu6dyxdvgtd9hyhm0ymss2gcn6
It would be hard to believe that the current administration has the competence to understand and front run the game throry but it looks like thats exactly what they're doing.

2024-07-31 16:23:42

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At the risk that I jumped the gun - what does Hoseki do to “verify”

2024-07-31 16:20:32

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Those addresses are essentially meaningless without a signature proving they control the coins.
It’s a virtue signal.
It’s even worse if the public thinks these addresses are transparent and don’t demand proof.
I caught a lot of shit for saying this when Bukele posted his address. It is nice to see but we need to demand more.

2024-07-31 15:43:17

There is no requirement for any Bitcoin treasury to prove they can move their coins in order to tell the world of its value in their accounting statements.
Microstrategy, Blackrock, etc. can claim billions on their Balance Sheet today thanks to the trust people have in their Bitcoin. Next cycle, it could be trillions of USD value.
However, there is no requirement to prove that they control those coins. The reader of financial statements has to accept the value without that proof.
The trillions of dollars on balance sheets will be subject to total and complete write-downs to ZERO in the event that an entity discovers they can’t move the Bitcoin.
The incentives are also now for those entities to run Ponzis on their Treasuries and not disclose the loss to the public.
A requirement would incentivize companies to implement best practices and reduce the likelihood of such a loss significantly.
Be aware.

2024-07-29 13:19:11

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A moment that will live on in Bitcoin history, and comedy history!

2024-07-29 13:02:14

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Agree on both - but….
…if someone were to make him understand this dynamic - shit is gonna go down and he’ll find all the levers

2024-07-29 06:45:28

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If he could print, say, $100 trillion, he would debase the entire system, not allowing them to mount an attack on Bitcoin.
His enemies (the tradfi banking system run by the globalists) would be holding worthless dollars.

2024-07-29 03:27:18

Here's the Trump game theory:
1. He is viewed as being responsible (right or not) for Bitcoin's price moon when rates drop and his administration stays out of the way. Could take us to 200k - everybody he named at the beginning of his speech will make billions.
2. In 2028, if democrats win the White House, it will be an all out war on Bitcoin to bankrupt Trump, his family, and everyone who funded him (Bitcoiners)
3. Knowing this, Trump spends 2025-2028 printing enough money to either kneecap or bankrupt all of his enemies who could implement #2.
You guys see this game playing out?

2024-07-29 01:08:57

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Someone was telling me the details about GRID - it’s not good - but good VCs are forged in failure - hardly a disqualifier
That said - if absolutely important to never look up to any entity without a high bar and always be adversarial.

2024-07-28 20:27:41

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Don’t get me wrong. He’s good at what he does. I just think his performance revealed something he should check in on.
Being a leader requires being willing to grow and doing so. You can’t really lead if you can’t handle 10 minutes of a comedian you hand picked to entertain your fans on your show.
You will be an easy target.
I want better for Odell and the people who learn from him. He’s a good Bitcoiner - but we need to make each other better.

2024-07-28 17:40:59

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Not all VC are big. Hopefully one day none will be.

2024-07-28 17:00:47

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Yes and no. At some point VCs are gonna have to emerge that do carry small companies.
I’d love to see 1031 be one of these VCs.

2024-07-28 16:13:01

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Richard Greaser and Rod Palmer
IYKYK
If not, check out the Bitcoin Bugle

2024-07-28 14:18:13

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Listen to the RHR episode. Better to watch video so you can see the body language.
Opsec isn’t funny - so don’t hire a comedian to roast you if you don’t want that happening.
Marty got easily 100x more brutal insults and he took it like a champ.

2024-07-28 13:43:11

My biggest takeaways from the Bitcoin Conference
1. Matt Odell can’t take a joke (from a comedian he hired to be on his own show) and it’s actually worrisome to me how bad he is at it. An exercise in humility is warranted given how many people rely on his leadership
2. The next 4 years are going to be the craziest in my 50 years of life and I’m not prepared.
3. Privacy will continue go be reduced to a niche movement.
4, Ross Ulbricht should not be in prison but he became a virtue signal at the conference. Nobody seems to be putting pressure to discuss Samourai when they broke no laws and is a far more meaningful and consequential situation to Bitcoin.
5. There are young guys in the space who inspire the hell out of me and it’s good to know that there are people who will fight the good fight.
6. Bitcoin is great and doesn’t GAF about the circus. It’s the constant.

2024-07-24 13:10:45

The “game theory” behind Trump as POTUS with Bitcoin is pretty straightforward but also terrifying.
He MUST print enough money to financially obliterate his enemies.
He cannot let them live to get in office and have the resources to attack Bitxoin to try and bankrupt him and his family without printing even more money to do so.
Bitcoin is the political football.
Happy Sweet 16 - you’re in the big time now.

2024-07-15 14:19:15

The toughest hustle in America is the semi-pretty married woman in corporate America who spends 2 hours a day making herself “presentable” enough to have self-esteem at her social-engineering job for money she doesn’t really need.

2024-07-11 21:10:05

Seeing this was one of the proudest moments of my life. @npub1z9h…858n and I started this thing with no listeners. Getting the respect of a credentialed institution like the Bugle means the world to us.
https://m.primal.net/JNJz.mov

2024-07-11 15:28:02

Mathematics is not an expression of truth.
It is an offer to adopt a standard framework for a consensus that would confer an agreement close to truth.
If people understood that they were part of that network, they would take far more responsibility for it.
Instead they are told that they aren’t part of it and never will be and they never gain the benefits of what that network can be capable of.
Sound familiar?

2024-07-10 13:42:47

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If that's directed at me, you seem to lack the ability to discern constructive criticism from vitriolic personal attacks.
Sorry I stumbled into your guys echo chamber. I guess Nostr can be pretty nasty - its ok - I can handle it.

2024-07-10 13:21:49

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LOL - noted.
Now go start a thread about how you want to leave the public square because you can’t handle the hatred.

2024-07-10 13:18:44

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Gonna guess it’s a metadata issue.
When I upload my podcast I just send it all out through RSS to “podcast 2.0 platforms”
I use Podverse to listen but don’t pay too much attention to those features as I assume they’re buggy.

2024-07-10 13:11:10

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If you aren’t strong enough to handle the world’s reactions to your worldview then you shouldn’t be on social media.
You are here to share your views. If you can’t handle that people don’t like them then you aren’t fit for the public conversation.

2024-07-10 13:01:21

The Price of Bitcoin
It’s important. Don’t let anyone tell you it isn’t. Just because a metric is flawed, wrong, and demented, doesn’t make it unimportant.
It is not the most important thing in our universe. The majority of bitcoin owners are exclusively focused on its price and if it wasn’t flawed, demented, and wrong, they might be right to do so - but they are cannon fodder for the people in the market that can see true signal.
It is on the backs of these people that HODL’rs stack their fortunes.
But if it’s isn’t the most important thing, then what is?
I would say the most important thing that somebody in Bitcoin can focus on is the originality of their worldview and their ability to maintain the conviction of that view over time through cycles.
Most people probably think they have an original worldview but they don’t. I talk to more Bitcoiners regularly than most. The overwhelming majority are winning because they chose the right memes. This is easy to do when Clown World is so dominant but this will get harder and harder as Bitcoin fixes that.
As the Price of Bitcoin starts to carry more signal, it will require more energy and fortitude to maintain your conviction in your worldview.
If your worldview is not your own - it won’t make it. Any part of your view that is borrowed and not internally verified deep inside your soul will eventually be let go.
When the world gets hard, and it will, and you’re moved into survival mode, you will end up adopting a very high time preference. Can you really hang on to your stack in the face of such circumstances when your kids need food or medical care?
The Price of Bitcoin isn’t the number you can sell it for. It’s the cost it imposes on your life to stay in the game.

2024-07-10 12:26:08

It’s good to test your worldview once in a while with normies that you respect.
It’s good to have a normie or two that we respect in the world.
The echo chamber around Bitcoin can be limiting and powerful. You can make it stronger by stress-testing it in the wild every so often.

2024-07-09 18:14:57

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Alby has great UX. Works great.

2024-07-09 13:58:06

Network nodes are equivalence relations - not equalities. No two nodes in any network are equal. If they were then they would only ever need one.
Networks grow by creating equivalence RELATIONS among UNEQUAL nodes.
A world where everyone is equal is a network with only one node - the one with all the weapons.
Equality isn’t just a platonic ideal - it’s a tyrannical psy-op.

2024-07-09 13:14:35

Equality vs Equivalence
Equality is a myth. A platonic ideal. It has no definition and no rubric for proof. In math there is an attempt to sometimes define a = a but the proof is often axiomatic, or self-evident. Equality is an idea that comes from God. We inherently know it but we cannot define it.
Equivalence is what man created to define, verify, and scale our idea of equality. Equivalence is clearly defined as a general relationship that possesses each of the following properties:
a) reflexive: an item is “related” to itself
b) symmetric: if a is related to b then b is related to a
c) transitive: if a is related to b, and b is related to c then: a is related to c
Reflexive, Symmetric, and Transitive
That’s the best human beings can do to define, explain, and prove equivalence.
With equivalence we can work off of a common truth. We can build a consensus and we can share a reality.
Equality is absolute without being verifiable. It’s a shared tyrannical illusion. It can exist ONLY in the abstract and has extremely limited meaning and application.
Why should we and our children learn mathematics? It’s not to calculate tips at a restaurant or to get a job as a bean counter.
It’s to understand the difference between equivalence and equality and be resilient to the Platonic psy-ops that have caused the majority of human atrocities.
It’s to be sovereign.

2024-07-08 15:47:59

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Tom Marshall responded to me once on Twitter claiming he was a Bitcoiner but I suspect more a shitcoiner or a dabbler.
The whole purpose of my writing about them and putting it here is so that if they ever got into Bitcoin - they would find signal and do it right.
I think Tom viewed me as some drug-addled superfan - didnt see the signal.

2024-07-08 14:26:19

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Yes - that’s what quarterly audits validate. If you say you have $1B of cash equivalents you have to show every cent.
Obviously a statement from JPM is sufficient to show ownership - assuming the same from Coinbase is what will lead to disaster.

2024-07-08 14:21:39

FASBs fair value rule that goes into effect on 12/31 of this year will cause the biggest rugging and devaluation of the financial system since 2007/2008 and will likely make the GFC look benign.
Why is this?
Because there is no requirement for any company to prove that they can move the coins in their treasury.
Therefore if Coimbase loses coins - and doesn’t tell anybody (which they won’t) then Bitcoin will continue to accumulate and appreciate until they can no longer keep the Ponzi alive. By that time one can only imagine what the write-down will be across the balance sheets of every company in the US. It could be many trillions by the time it’s caught.
There is a simple solution. FASB can require that a company proves it can move its keys in order to declare the value on its balance sheet.
At a minimum, they get a signed statement from their custodian “certifying” that the coins can be moved - or they can be compelled to provide a digital signature.
Adding this requirement will not only remove the risk of a trillion dollar write-down of a central custodian- but it will cause massive innovation in the custody space for institutions. It would incentivize the roads to be built and would also incentivize more companies to hold Bitcoin in their treasury.
TLDR - there’s no requirement for any company to prove that can move the Bitcoin in their treasury - in order to claim the USD value on their balance sheet - this opens the door to trillions of $$ of write downs if we discover this after hyperbitcoinization.

2024-07-08 13:48:32

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100%. Now do it in terms of time.
Spend 4 years of your life in a college or instead apprentice in a trade while studying what you want online on your own time.
Measure your “returns” by who you will become.
Most people would consider you a loser for doing this and as a parent most would consider me a moron.
The truth is that the difference between winning and losing is likely determined by whether or not the individual stacked Bitcoin along the way.

2024-07-08 13:37:02

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Excerpt https://image.nostr.build/ea9e48d60f8cc1d9c854033091cc5313a6b81d4eabe2d209d245ed2683e4bdc9.jpg

2024-07-08 13:34:08

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#note1cg2…8nn4

2024-07-08 13:32:16

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This subject is too loaded for this platform but I’ll leave a few bytes to chew on:
1. The unfunded pension liability in the US is over $200T which puts us over 600% - IF AND ONLY IF you believe the assumptions
2. Don’t believe the assumptions. I’m an actuary and used to set these assumptions. I quit pensions because of how corrupt this process was and I didn’t want to be part of the implosion with my signature on any of it.
Example: Most of the big state plans claim they are well funded because they assume discount rates equal to the expected return of the assets.
So even when rates are at local maximums like they are now, they are far below the 7 or 8% the big state plans like CALPERS are using - this makes the liabilities look a lot lighter than they actually are. The 200T might be 400T just if we use a more realistic discount rate for the future claims.
Here’s a little essay I wrote after the BoE bailout to try and explain some of this
https://risk-fundamentals.ghost.io/pensions-finally-come-of-age/

2024-07-08 13:12:14

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This right here is why data can be co-opted but information cannot.
Information is what you know to be true.
Data is just digital matter so unrefined that you could never determine if it’s true or false even if God himself gave you the answer.
Only an individual can KNOW and whatever act they do to transform data into information - that’s their proprietary production process and no government can co-opt all of that. They can only disrupt it.

2024-07-08 12:51:56

As much as I cannot stand people discussing Bitcioin in terms of returns (Vomit) - it burns me even more when people describe those terms using bastardized language - either preying on peoples lack of rigor with that language or lacking that rigor themselves.
I’m coming to correct people who are misusing the word “asymmetric” with regard to returns. Asymmetric doesn’t merely mean that one side doesn’t match the other. There are already several words for that: unequal, itreflexive, greater than, less than, etc.
Symmetry and asymmetry have specific meanings with regard to what they are saying about a relationship. To say 2 sets are asymmetric is to say that one direction says absolutely nothing about the other direction.
A hash is asymmetric. Its power is in its absoluteness and rigor. It’s not describing a relationship between two worlds - it uses asymmetry to impose a ruthless fact and to either disabuse people of the notion that there can be any relation in the other direction or challenge them to disprove that notion.
The blurring lines between cryptography and finance already do damage to our society - we would be wise to be careful with the language we use to limit the damage.

2024-07-07 15:26:54

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One could easily see this song being about escaping from Fiat.
They bought my soul for a pile of cash
Everybody else got paid out
They're closing in I gotta dash
I gotta find a way out

2024-07-07 15:19:59

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Talent and generosity is a force that most people do not understand.
On a personal level it has the power to move to tears.
At scale, its a nightmare for power - as was proven when the Grateful Dead was running their network.

2024-07-07 13:47:58

Anyone here on Nostr want help with code review or any part of a project - hit me up.

2024-07-07 13:44:42

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Only communists consume themselves with what other people are worth. Cut the shit and get to work on providing your own value.

2024-07-07 12:48:29

Data can be co-opted.
Information can not.
It takes a life to learn to be information sovereign in a world of co-opted data.
Nostr doesn’t fix this. Neither does Bitcoin. They may be helpers.
Learning and studying mathematics is the solution and the reason isn’t obvious.
It’s along the lines of Plato’s proberb that one must conquer themselves before trying to conquer the world.
Mathematics enables one to conquer themselves. This makes you an individual that is very difficult to conquer by others. It makes you strong and powerful resilient. It also build your trust in yourself.
Your sovereignty is limited by the trust you are capable of having in yourself. Very few things build that trust, w.r.t. your mind and thoughts like studying math.
Removing your ability to do this is how governments conquer you. Making education compulsory and making math excruciatingly painful has successfully deterred nearly 8 billion people from pursuing sovereignty.
Once you regain your mind through the study of math, you can begin to learn to distinguish information from mere data, and fight the war against power on your own terms.

2024-07-01 13:17:04

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Considering money is fake - it makes sense that they’d have some ability to project real power to suggest it’s not.
It’s gonna change. The monopoly on money is breaking down. Just with BRICS but obviously with Bitcoin as well - it’s gonna break down hard.

2024-07-01 02:00:15

I have been drinking Otis' coffee for nearly 6 months.
Most coffee stinks. Tha's just a fact. Otis' coffee is actually good. I've hunted for the best coffees in the world for years.
I would vouch for the quality with every unit of my reputational capital. He also packs well, has sent as much as 20 bags to me, is always prompt. and is an all around good pleb.
Paying in Bitcoin is a really big plus. I cancelled my Blue Bottle subscription after starting my relationship with Otis.
If you're a coffee person - you should get in touch with Otis about his coffee.
#note1qmt…yq9j

2024-06-30 14:09:48

I travelled a little over an hour to a meet up last night. Only the organizer and one other person was there. You might think that’s lame but it was a great hang and a lot of ground was covered.
In order to build a good meetup you gotta show up and make a good hang no matter if 1 person or 20 come.
I credit the organizer for showing up and maintaining an interesting convo with me for 3.5 hours.
This is the way.

2024-06-28 13:53:00

Throughout my career as an actuary, my crusade has primarily been about the definition of “real money”
My colleagues unanimously think that “real money” is what the regulatory capital models allow them to say they have in their holding companies.
I have argued for years that P/L and cash are real money and that their paper mark-to-model results are bullshit.
Let’s not even get into the fact that cash in dollars isn’t real money - but that’s there as well.
Bottom line - insurance companies and pensions are standing on absolute shams of actuarial opinion. They are backed by assumptions and when they are lucky enough to realize them - they are exposed to the perpetual bleed of fiat currency.

2024-06-28 13:20:29

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Nonexistent problem? There’s your issue right there.
To me he’s a nonexistent person - not worth the space in our heads

2024-06-28 13:18:34

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It doesn’t get more basic than zaps. It’s a basic unit for value. It was really my initial draw to Nostr - not that anyone can make a living off of zaps - but that I could give V4V - that is such a tremendous feature.

2024-06-28 12:52:34

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I see that. The fact that workarounds can be deployed so easily is inspiring.

2024-06-28 12:37:32

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Wow - that’s pretty amazing

2024-06-28 12:20:37

GM Nostr.
I’d like to explore how I can use Nostr to teach math.
I feel like I can host problem sets here, as well as study groups.
I don’t need the best UX - just the functionality and the immortality of the material on my server.

2024-06-28 12:18:01

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Big fan of Joey. We’re like brothers who somehow still never met.
I was really committed to Nostr last year but after Damus removed the zaps - the experience changed for me. I love to zap ppl with one touch.
I tried Primal but honestly I think it’s over-engineered.
I’ll work my way back here.

2024-06-27 18:28:09

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Gotcha - lot of us are here - but I need a push to commit time again to Nostr.

2024-06-26 15:14:36

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Thanks brother. Come hang in the telegram if you like.

2024-05-02 14:18:15

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These thefts will do nothing but increase as the inflation squeeze continues. The desire to get something for nothing will drive public employees who think they can get away with it.
High inflation lowers the hurdle rate for these ppl to engage.

2024-05-02 04:08:24

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@npub16e3…y9v6

2024-05-02 02:49:26

#mathacademy
I'm taking another shot at Nostr. Gonna post my long form thoughts here.
I'm intending to build a math academy for Bitcoiners. I'll use the hashtag to turn the daily thoughts and ideas into either a long essay or a book.
I believe Bitcoiners have a unique need for a math academy to level up their skills in math. There are 3 key reasons I think this is so:
1. Independence
If you can't do your own math, you have to trust someone else's math. You don't want to do this. You yield your power and sovereignty in doing so to predators who will take advantage of your weakness
2. Homeschooling
Bitcoiners mostly know they want to homeschool but may not have a lot of confidence in their ability to teach their kids math. They may not want to outsource this to someone (see #1). Additionally, many of us might discover that our children are extremely talented. It's going to be important to level ourselves up so that we can walk our children through the stages of learning.
3. Network Resilience
The current generation is very weak in math. We could be vulnerable to an abstract attack on the code. A global leveling-up in our math skills, not unlike if we all leveled up our fitness, will make the network far more resilient.

2024-05-02 02:28:38

https://fountain.fm/episode/6xszXUJDtkrX4QHuFsc6
Hung out with some friends. Had a great time. @npub1z9h…858n and I shoot the shit with Mike and Dan and preview Season 2 of Rock Paper Bitcoin

2024-05-02 02:26:10

https://ungovernablemisfits.com/the-big-hype-about-ai/

2024-05-02 02:24:13

https://t.co/nC8Kfzpukj
I started doing solo rips - check it out. Starting to tell short stories - 5-10 mins.

2024-04-29 23:29:14

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Thanks for sharing the clip. I’ll try to find a way to zap you.

2024-03-19 14:15:13

Why is it impossible to be sovereign if you add no value?
Because others who also add no value will sell you out to save themselves - and nobody will stop them from doing so because if you don’t add value -
Nobody really cares if you live or die, make it or don’t
Only if you provide something that people couldn’t access without your existence - does your existence matter to anybody.
The more value you add, the more people have your back, especially when you have to stand up for yourself, and the more sovereign you will be.

2024-03-19 13:31:11

Sovereignty is only available to those who can earn Bitcoin. Earning Bitcoin is a proxy measure for your ability to add value.
You’re only sovereign if you add value - period. You might have a big enough stack to be valuable as a buyer but the vast majority of people need to do more for people.
There are only 2 ways to earn it:
1. Get someone who has it to trade it to you for a good or svc.
2. Run a miner and pay the elec nut
Start with #2 until you have the skills to reliably do #1.

2024-03-19 12:48:04

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I’ll go to this if it’s a quasi btc/nostr meetup

2024-02-10 10:20:35

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Yeah, I’m gonna have to go ahead and, yeah….disagree.

2024-02-03 13:52:16

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Swan’s 5% may as well be in the hands of the govt. so make it 23.51%.

2024-02-01 15:16:32

Blackrock hitched their wagon to the Confederacy.
Texas gonna defrock the Feds
Wall St is not joining us - deal with it.
https://fountain.fm/episode/O436XrWHcYIF4UUAZpfg

2024-02-01 14:34:56

NGU is great for nyms. Terrible for local plebs who meet in meatspace.
Eye on the prize. Local communities are for supporting each other in being ungovernable. Never get comfortable.
Make sure you have farmers, doctors, electricians, plumbers, and teachers to get through a more severe version of 2020/2021 and never comply with the clowns.
We will win!

2024-01-31 13:10:53

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That is capitulation.
The difference is exactly as you described - bankruptcy.
Bitcoiners waiting for validation are not gonna make it.

2024-01-31 13:08:28

Btcoiners worried that the US might get its act together and employ sound monetary policy:
We’re at war in Ukraine, Israel, and Texas
That’s just what we know of.
The printing will continue.
Forever Laura.

2024-01-31 12:54:02

The fiat system will NEVER legitimize Bitcoin.
They will only capitulate and lie about it.
Stop begging for their recognition.
Stop waiting for their validation.
Bitcoin will only truly reward those who see it without needing that validation

2024-01-31 12:33:11

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We go from 10M to 3M and the next golden age of building begins. Now 4 billion people know what only a few million learned from Gox.
I CANT WAIT!!!

2024-01-31 12:31:43

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Muhammad Ali was the rarest of men

2024-01-31 12:29:52

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I love big days!! Strength to you!

2024-01-30 18:45:27

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Yeah but they won’t mind disclosing the ones due to Bitcoin. This is the use case

2024-01-30 17:39:00

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If you aren’t using algebra in life you’re doing it wrong.
No football player ever complains that they do not run through tires or have to lift weights during a game:
Algebra and math are part of having sovereignty over your own mind. You are likely unaware of how much you use it and how much more you are capable of.
Bitcoiners need math in the worst way. They are on the gridiron trying to avoid psy-ops, homeschool their kids, and protect a network they don’t really understand.
Let’s take algebra off this list and put it on the ToDo list!
LFG!

2024-01-30 17:33:45

By the time the chickens come home to roost on Blackrock teaming up with Coinbase to launch the Bitcoin ETF -
A large % of the issuance will be involved in a ponzi that will require liquidation.
I say it happens in 2030 and XBTUSD tanks from 10m to 3m
Plan accordingly

2024-01-30 17:33:25

If you’re a Bitcoiner and you are not maniacally distrustful of influencers on Bitcoin including the people who wrote your favorite books:
You’re NGMI
Poker is about being the best at the table. 2nd best goes broke
Shake their hand and look in their eyes before giving trust

2024-01-30 17:31:55

Nothing builds a low time preference quite like waiting 210000 blocks for a moment that will take yet more years for the outside world to realize.
Our sense of time is out-of-phase with the outside world but our time is where we win.
It’s quite possible that we all think we win!

2024-01-30 17:30:27

The thing about Bitcoin that people don’t get is:
It only takes one road and you might actually get the world on it.

2024-01-27 15:49:28

Being a simp might get you invited to the dance, and that’s actually OK -
but you’ll never get to dance with the hot girl until you tell the people who took you there to go fuck themselves.
Advice I wish I got a long long time ago.

2024-01-27 15:49:03

Fiat debasement actually drains humans of our life force - a little bit consistently over time.
Monetary inflation is just the way we see it.

2024-01-26 11:48:52

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my blog posts and transcripts of the podcast

2024-01-26 04:26:05

My GPT is coming along:
How does Fundamentals view Bitcoin's societal impact?
GPT
Fundamentals perceives Bitcoin as a transformative force with significant societal implications. The insights from the provided documents shed light on various dimensions of Bitcoin's impact:
Pension Systems and Financial Security: Fundamentals critically examines traditional financial structures like pension systems, highlighting their vulnerabilities and inefficiencies. The discussion around pensions and their inherent risks showcases a profound understanding of the financial system's fragility. Fundamentals suggest that Bitcoin, with its decentralized and trustless nature, could offer an alternative, more resilient framework. It's implied that Bitcoin's inherent properties could mitigate some of the systemic risks associated with traditional pension systems, thus impacting societal financial security.
HODL'ing as a Human Action: Fundamentals deeply explores the philosophical and psychological aspects of holding (HODL'ing) Bitcoin. It's viewed not just as an investment strategy but as a reflection of human values and behavior. The belief that HODL'ing Bitcoin is a distinctly human action, resistant to prediction and influence by artificial intelligence, underscores its societal impact as a form of financial sovereignty and resistance to external manipulation.
Institutional Interaction with Bitcoin: There's a clear delineation of how different societal structures, like corporations, governments, pensions, and endowments, interact with Bitcoin. Fundamentals highlights the challenges these institutions face in adopting Bitcoin, mainly due to their inherent structural and governance models. The analysis suggests that the true essence of Bitcoin is more aligned with individual action and freedom rather than institutional control, which could lead to a societal shift in how wealth and assets are managed and perceived.
Bitcoin and Annuities on the Lightning Network: Fundamentals delves into the innovative concept of creating annuities on the Bitcoin Lightning Network. This discussion opens up possibilities for societal impacts in terms of financial planning and security. By leveraging Bitcoin's technology, there's potential for a more equitable and efficient system for managing and distributing financial resources, which could profoundly affect societal structures of support and retirement planning.
The Concept of Rock-Paper-Bitcoin: This framework is used to analyze and understand societal systems in the context of Bitcoin. It's a philosophical and analytical tool that helps categorize different aspects of society (physical, abstract, and metaphysical) and assess their interaction with and transformation through Bitcoin. This model suggests that Bitcoin has the potential to reshape societal norms, values, and structures by redefining the essence of value, cooperation, and trust.
Overall, Fundamentals views Bitcoin not merely as a financial asset but as a catalyst for profound societal change. It emphasizes the philosophical, psychological, and structural shifts that Bitcoin can induce, offering a nuanced perspective on its potential to reshape various societal facets.

2024-01-25 01:41:27

https://podcasts.apple.com/us/podcast/rock-paper-bitcoin/id1686471174?i=1000642075976
The Rock Paper Bitcoin podcast, hosted by Business Cat and Fundamentals, explores a diverse range of topics centered around Bitcoin, its societal impact, and the philosophies surrounding it. The hosts delve into deep and nuanced discussions, often reflecting on personal experiences, current events, and the broader implications of Bitcoin on society. Notable themes from the podcast include:
Bitcoin's Societal Impact: The discussions often circle back to how Bitcoin could potentially be the redemption of civilization, moving from a symbol of gambling and risk to a beacon of hope and financial sovereignty.
Philosophical and Psychological Narratives: The hosts engage in reflective conversations about the philosophies behind Bitcoin, its psychological impact on individuals and society, and the cultural shift it represents.
Technical and Practical Aspects: While avoiding financial advice or predictions, the podcast doesn't shy away from discussing the technicalities of Bitcoin, such as mining, security, and the importance of understanding the underlying technology.
Personal Growth and Community Building: Both hosts share personal stories and growth experiences, emphasizing the importance of community, networking, and building relationships within the Bitcoin space through meetups and discussions.
Critique of the Fiat System: A recurring theme is the critique of the traditional fiat system, the inflationary policies of governments, and how Bitcoin presents a decentralized alternative that offers financial freedom and integrity.
Art and Culture: The podcast also touches upon how Bitcoin is influencing art, culture, and creativity, signaling a potential renaissance where art and finance intersect in new and innovative ways.
Throughout the episodes, the hosts maintain a thoughtful and contemplative tone, focusing on the philosophical, societal, and personal aspects of Bitcoin rather than speculative or investment-focused discussions. The Rock Paper Bitcoin podcast aims to provoke thought, offer insights, and contribute to the broader conversation about Bitcoin's role in reshaping society and individual lives.

2024-01-24 04:08:47

https://podcasts.apple.com/us/podcast/rock-paper-bitcoin/id1686471174?i=1000624744772
In Episode 16, Fundamentals offers a nuanced perspective on mathematics, diving into its nature, societal perception, and the role it plays in intellectual development. Here's an expanded view on his thoughts and philosophies regarding mathematics:
Mathematics as Tedious, Not Complicated:
Fundamentals asserts that mathematics is often perceived as complicated not because of its inherent complexity but due to its tedious nature. He believes that most people think they are bad at math because they lack the patience or time preference to engage with its tedious aspects. Mathematics demands attention to detail and a methodical approach, which can be daunting and time-consuming.
Generalization and Mathematical Thinking:
He emphasizes the importance of generalization in mathematics. Generalizing mathematical concepts across different systems or bases (like computing arithmetic in different number bases) can be extremely tedious but is fundamental to understanding mathematics deeply. This process requires a person to see beyond the specific numbers or problems at hand and understand the underlying principles that govern these numbers or problems.
Impact of Time Preference:
Fundamentals links the concept of time preference with the ability to learn and appreciate mathematics. A high time preference, where immediate gratification is prioritized, can hinder one's ability to delve into mathematics, as the field requires a low time preference due to its inherently tedious nature. He suggests that as society lowers its time preference, possibly influenced by Bitcoin, there may be a renaissance in mathematics education and appreciation.
Societal and Educational Implications:
He touches upon the educational system and how mathematics is taught. The prevailing educational structures may not encourage the tedious, yet rewarding journey of understanding mathematics but rather focus on rote learning and passing exams. This approach can strip away the true essence and joy of mathematics, reducing it to a subject of fear or disinterest among students.
Mathematics, Bitcoin, and Society:
Fundamentals sees Bitcoin as a potential catalyst for change in how society views and interacts with mathematics. Since Bitcoin is deeply rooted in mathematical principles, a society that understands and appreciates Bitcoin might naturally gravitate towards a better understanding of mathematics. This shift could lead to a society that values deep, thoughtful engagement with subjects, leading to innovations and developments in various fields influenced by mathematical thinking.
In conclusion, Fundamentals’ view on mathematics is not just an analysis of the subject itself but a commentary on societal attitudes, educational approaches, and the potential future where mathematics is more deeply appreciated and understood, possibly influenced by the societal changes brought about by Bitcoin.

2024-01-23 14:32:47

My Gox repaying creditors now is a pretty sick chess move by the fiat cumlords.
They get to tank the price while erasing the singular obvious risk to the ETFs which is Coinbase pulling a Mt Gox.
Well played dickheads but it just means corn ends up in much much stronger hands.

2024-01-16 21:37:21

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It’s the shittiest of them all. An ETH ETF will be better money than ETH because at least it’s a security.

2024-01-09 15:09:46

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I would be happy to join - it’s difficult to be on a Space at a particular time but would be happy to discuss Nostr any time!!

2024-01-03 12:47:54

#Bitcoin turns 15 years old. It’s in a rarified category of most powerful orphan to ever exist.
Others exist in lore but it took centuries before they could reach hundreds of millions of people or have the worldwide impact that Bitcoin has had.
While Satoshi and his computer don’t matter much to the protocol, none of what we have or will have can exist without the Genesis block.

2023-12-19 15:23:43

#phish
When doors are all closed tightly
With words the only keys
You may understand the reason
Why I’m floating on the breeze
https://m.youtube.com/watch?v=71EEiuMG610

2023-12-19 02:59:46

https://m.primal.net/HUTV.png

2023-12-19 02:57:42

https://m.primal.net/HUTT.png

2023-12-19 02:55:12

https://m.primal.net/HUTS.png

2023-12-15 01:57:36

#phish
https://m.primal.net/HTsu.png

2023-12-15 01:51:57

https://m.primal.net/HTst.png