pox @[email protected]

RT @paddyspubkey
---
Did you buy the iPhone 6 when it first came out?
Had you bought #Bitcoin with that money you'd have $139k today.
Did you pre-order that iPhone 5? That baby cost you $842k.
The iPhone 4?
🥁 🥁 🥁 🥁 🥁 🥁 🥁
$252,950,000
🤦‍♀️

Ain't that a lesson in time preference?

---
https://twitter.com/PaddysPubKey/status/1368579653506633747

lol
credit: https://twitter.com/ChrisKnight407/status/1367711963875323904

"... Eugen von Böhm‐Bawerk, even argued that the interest rate in a nation reflected its cultural level: the higher a people's intelligence and moral strength, the more they save and the lower the rate of interest."
-- The Bitcoin Standard

Corollary: what does it say about a society in which the interest rate is manipulated to be artificially low?

"Don’t let any nasty Bitcoiners tell you that the dollar isn’t backed by anything, when we know full well it is backed by self-referentially mispriced toxic loans and stabilized by a military and commodity cartelization pact with Saudi Arabia..."

As good an introduction to Austrian business cycle theory as you could find: https://allenfarrington.medium.com/the-capital-strip-mine-ec627e9fe40a

It's generally considered good advice to "teach kids to program" and to "teach kids financial literacy". In a Bitcoin world these two maxims meet.
You cannot be self-sovereign in a Bitcoin world without having a not-so-basic understanding of computers and software. If you want your kids to be able to run their own node, they must learn C++. They must learn Linux. They don't have to be experts, but they cannot avoid these topics in their education.

Humanity entered a race against compound interest just as its population growth started declining.
The result is inevitable.

safety first

(I might have a problem)

This guy comes off as pretty much a libertarian
https://www.reddit.com/r/slatestarcodex/comments/lnlsmg/i_am_a_heroin_user_i_do_not_have_a_drug_problem/

😅

Dec 15 is the last time the mempool has cleared.

$277 in fees to send $142 worth of BTC. Sure, why not. Miners need to eat, too.

If it's extremely rich bankers that control the levers or power, and have been for a century, then what happens when the same rich bankers turn out to be bitcoiners? What happens when coinbase and binance et al flippen JPMorgan and Goldman? Who calls the shots then?
Why would they ever destroy the value of their main asset?
The future Bitcoin trillionaires are going to the "big bankers" who call the shots, who get politician elected, who prevent all out war being declared on bitcoin.

What if governments ban Bitcoin? What if they force you to custody it with them?
The story goes that once upon a time they did this with gold (6102). But it wasn't the government behind this. It was rich bankers. The same rich bankers who privately own the federal reserve.
So it's more relevant to ask "what if rich bankers decide to ban bitcoin?"
If you look at this way, realizing that true power isn't in the hands of fed clerks, but their benefactors, the answer is different.

When will we see sat : cent parity? We're only about 20x away.
Still have 11x to go to reach gold's market cap. But $9b of gold's cap flowing into Bitcoin doesn't translate to +$9b btc market cap (that would only be the case if none of the buys bid the price up!). By the time we steal gold's $9b edge, bitcoin isn't worth 11x, it's worth 100x (who knows, really). And at some point before gold capitulates we're going to see sat:cent parity.