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Risk is Volatility. Volatility is Risk.
There is no Reward without Risk.
There is no Reward without Volatility.

It's morons and charlatans who complain about 's Volatility when there's a large reward.

NFTs are bribes. LOT arguments, wallet descriptor tutorial, DLC oracle software, e2e 2nd factor, corporate bonds on Liquid, benchmarking LN nodes, gov't and btc, fiat privilege, backdoored paper wallet, petrodollar and more!

Tech Talk Issue #229

jimmysong.substack.com/p/nfts-

An IYI with no Skin in the Game is Fooled by Randomness about a Black Swan tail-event because he puts Bitcoin into a Procrustean Bed of his limited mind which otherwise would break his opposite-of-Antifragile ego.

Keynesian economists and altcoin pumpers have this in common:

They will do Olympic-level mental gymnastics to justify that which pays their salary.

You take the king's coin, you become the king's man.

To be truly free, take the coin without a king, or a committee or a foundation.

is freedom.

If you're angry about my NFT tweet, you're proving my point. You're defending a centralized and insecure system and their Cantillionaires because they're paying you.

Altcoins will buy things with money they've printed from nothing. You sell to them at the cost of your soul.

NFTs are ICO 2.0, except that ETH is exploiting starving artists instead of starving startups.

Deadly sins of Bitcoin noobs:

Pride - Profitably mining is easy!
Wrath - Why is so expensive?
Envy - Let me get in on the next
Greed - I'll make money trading with no experience
Sloth - My altcoin bags will recover if I just wait

"What can be asserted with lots of evidence can be dismissed because of my feelz." - Taleb's Razor

2017 startup playbook: ICO, spend money stupidly, end up building nothing
2021 startup playbook: raise money, keep treasuries in , have long runway and build sustainably and slowly

This cycle is going to be much better.

The modern world creates lots of new products which are essentially forms of navel gazing.

We'll know that we've started transitioning to a standard when the majority of new products are expanding frontiers again. Until then we're still early.

Spending currently drives the economy and that is done almost entirely through debt. Raise interest rates and spending drastically reduces.

There's a reason rates are near 0 or negative.
A economy is driven by savings, not spending.

Claims about the future are usually wishful thinking at best, malicious manipulation at worst.

makes claims on the future through code and consensus. is credibly scarce.

is optimized for credible scarcity.

Everything else really isn't and why will win.

I'm starting to believe the societal imperative to be nice is really a hack to get compliance.

When you sell or buy something with recognize that you might not ever earn it back.

Bitcoinized assets, Taproot LOT, Bitcoin Block time distribution, Coinswap implementation, Lightning Pool, LN withdrawal discounts, BTC bastion of freedom, delisting BCH/BSV, rigged stock market, ETF/Coinbase valuation

Bitcoin Tech Talk #228

jimmysong.substack.com/p/the-b

Taleb thinks that government officials should be our mommies and daddies. 🤦

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