You guys have to recreate Grumpy Old Men at Lake Satoshi by going out and sharing a canoe ride.
https://fountain.fm/episode/SiM6nOppOXTX7dbhlh53
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https://fountain.fm/episode/jG0IDd55yG5J9XzIH1Kf
I really enjoyed this conversation with @Ungovernable Misfits . I thought it came out great and @jordan did a great job making me sound coherent.
I’m hoping this reaches people who are fighting to increase their own conviction - not in Bitcoin - but with how they’re living their life.
If you enjoy the conversation, consider checking out @RockPaperBitcoin and giving us and listen.
I should listen and make sure Max didn’t just interview me only to play Kamala Harris soundbytes after asking me questions.
I think this is an important conversation. While I didn’t mention it, attacks on Samourai are motivated (I believe) by institutional simping - a desire to make the space more palatable.
Imagine making that personal trade off only to find out that some institutions were coming anyway because they had no choice but the rest would sell their bitcoin at the first sign of trouble. It’s just not worth it.
t’s just not worth it.
It’s
It’s just not worth it
https://fountain.fm/episode/jG0IDd55yG5J9XzIH1Kf
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The longest chain of Dennis Porter facts wins the PoW battle.
Also Dennis doesn’t make lists. Lists make him:
https://fountain.fm/episode/FBCooGkLh5Di3G15fMAS
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Great episode of friends coming together!
Mike - we wanna hear you laughing - come off mute and crack up into that mic!
https://fountain.fm/episode/0qBvG8c4RcdH1kF3HQgo
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Bugle not part of HBO documentary - that makes it irrelevant uncredentialed journalism..
https://fountain.fm/episode/j7uoPp7krommuDtx9R75
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The Bitcoin Standard: A Perspective Shift
Living on a Bitcoin Standard requires a significant perspective shift from the fiat-based mindset most people are accustomed to. Here's a summary of how one should view this transition, based on insights from the sources provided:
1. Bitcoin as a Tool for Freedom and Sovereignty:
Embrace Bitcoin's potential to provide financial freedom and sovereignty. This means taking self-custody of your Bitcoin to a "gulp limit" - an amount you're comfortable holding yourself. [3] This act of self-reliance fosters a sense of personal power and independence from traditional financial institutions.
Recognize that a Bitcoin Standard prioritizes individual responsibility and honesty. It encourages transparency in valuing your time, skills, and contributions, leading to a more equitable exchange of value.
2. Shifting Away from Fiat-Centric Thinking:
Challenge the ingrained notion of chasing fiat gains as the primary measure of success. Recognize that the pursuit of fiat gains often leads to a focus on short-term profits and speculation, rather than building long-term value.
Focus on developing skills and expertise to earn Bitcoin directly, rather than relying on traditional investment vehicles designed for a fiat system. This aligns with the Bitcoin ethos of value creation and exchange.
Decouple from the expectation of salaries as the primary form of compensation. Instead, explore alternative models like contract work or value-for-value systems that are better suited for a Bitcoin Standard.
Understand that Bitcoin's value proposition extends beyond being just a store of value. It can be a tool to reduce expenses and increase purchasing power by transacting directly in Bitcoin.
3. Embracing a Long-Term Perspective:
Develop patience and resist the urge to constantly measure Bitcoin's value in fiat terms. This long-term view allows you to weather market volatility and benefit from Bitcoin's potential for appreciation over time.
Recognize that living on a Bitcoin Standard is a journey, not a destination. It requires a willingness to adapt, learn, and connect with like-minded individuals building a new financial system.
4. Navigating the Transition Phase:
Engage with the fiat system strategically while prioritizing your transition to a Bitcoin Standard. This might involve earning fiat income while simultaneously accumulating Bitcoin and seeking out opportunities to transact in Bitcoin whenever possible.
Surround yourself with a community of Bitcoiners who share your values and vision. This provides support, fosters learning, and strengthens your resolve during the transition.
Be wary of influential figures who promote Bitcoin while clinging to fiat-centric thinking. Their actions might not align with the principles of decentralization and individual sovereignty that underpin a Bitcoin Standard.
Living on a Bitcoin Standard is about embracing a new paradigm—one where individual sovereignty, financial freedom, and a long-term perspective are paramount. It requires a shift in mindset, a willingness to challenge conventional thinking, and a commitment to building a more equitable and decentralized future.
Keep moving the ball forward. Great stuff.- and great closing song - I want my flying car.
https://fountain.fm/episode/7Gi1Ql2j4K2pFogePenS
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The way I look at mistakes are UTXOs with lost keys. They will just pile up.
The unit of bitcoin is anUTXO, not a sat. Sat is just a denomination but they can’t really be moved - a UTXO is required for the “movement” of any sats.
There is a very small number of UTXOs relative to the pooulation of the world and hard limits on the creation of new o es and the exchange rates of current ones - this is what has so many panties in a bundle.
Cool question.
My personal reflection is that its much easier to attack things than to get behind things - but thats not a reason to stop attacking things that need to be attacked.
I just need to make sure I'm also building.
In what way? I’ve heard a good amount of criticism about it but it mainly comes down to the fact that I don’t value fiat gains.
Always appreciate you Vic.
Karim was an incredible guest. I used to watch a lot of YouTube videos of people in K-Holes - it’s incredible to have someone come here and explain wtf is actually happening there.
God bless the Confab!
https://fountain.fm/episode/esZ0Ngry4IaLifFl1dEw
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I boosted this before I even heard the real signal. This dude is in touch with things that few people on this Earth ever 1) realize; 2) live to tell the tale; and 3) not sound like a maniac telling it.
Well 1 and 2 for sure.
Ever wonder why companies don’t try to make money anymore?
It’s all about corporate debt and “stakeholder equity”
A company cannot be viewed as having a likelihood of defaulting on
It’s debt. In order for that to happen, they have to be eligible for a bailout if things really do go badly.
So companies need to commit significant resources - just about all they have - toward being “worthy” of a bailout should the time come. This entails malinvestments of time and effort such as DEI, Climate, etc. and generally being on the good side of the state and those who determine who gets bailed out.
You know who’ determines who gets bailed out? Think Blackrock.
So all of these unproductive projects ate sucking resources, as a priority above making money.
Additionally, companies are at the gunpoint of the centralized voting proxies of asset managers like Vanguard, State Street, and Blackrock. No company’s board wants to be ousted by these people.
These people who have nothing to do with these companies - just custody the assets of their investors - end up driving the fulcrum of governance at all of these companies to the end that they are no longer allocating resources to profitable projects in fear of upsetting these terrorists.
Companies are violating their fiduciary duty to their shareholders en masse and nobody seems to be doing anything about it.
Biggest black-pill of them all:
The Normal probability distribution is a bullshit psyop amd most of what has been built off it is wrong and nobody will ever really know what’s wrong or not
Our overlords are exploiting our distorted sense of risk against us.
The only silver lining is that they don’t really know that the distribution doesn’t work and still stabs the selves with that sword.
No. But the agreement towards the Normal is bullshit. I’d argue it is the confirmation bias of the elegance of being able to add normal random variables - but we know that almost every random risk system has fatter tails than Normal so their risk is essentially underestimated.
The first 3 orders are frequently seen on the wild but the 4th order will ruin your financial system.
If you don’t see it, you get robbed in sats you can’t understand.
Sry - I don’t see what you’re saying. It’s gonna take me a while before I can look at these books . I just answered your question or at least put a fine point on it
@TheGuySwann and I running into Zeno’s paradox in the same week and connecting it to Bitcoin is an act of God.
Happens also to be the same week I started reading my blogs and also in which i brought the secret society discovery of irrational numbers in an essay about the value of miners
https://risk-fundamentals.ghost.io/what-is-the-value-of-a-bitcoin-miner/
The paradox illustrates that man can rationalize a mathematical proof for things that are clearly mathematically wrong.
When my life savings is heavily reliant on ppl who say “Trust Math” but by and large don’t do the verification, I find it highly relevant.
There was a time where the world only knew a rational number system (where any number could be expressed as p/q where p & q are integers and q != 0)
Turns out there are irrational numbers like the square root of 2. The man who proved this did so using the Pythagorean Theorem unfazed by the irony the Pythagoras’s himself thiught all numbers were rational until the day he died.
The man with the proof, Hippasus, was murdered by Pythagoras loyalists and the murderers made a pact to keep the world from seeing the proof.
They failed and the proof is known to be the second most well known proof in the history of mathematics.
They failed because the truth is ungovernable, especially the truth about irrational numbers.
https://www2.math.uconn.edu/~glaz/Square_Root_of_2/index.html#:~:text=Hippasus%20discovered%20that%20square%20root,to%20square%20root%20of%202%20.
Can’t stand people on airplanes who play sound through their phones - and pretend they don’t know how fucking awful they are.
I’d prefer a colicky baby screaming or a dipshit “entrepreneur” who won’t stfu about his business - or even 2 bitchy broads complaining about how unfair their lives are the whole flight to these terrible phone speaker cretins
https://fountain.fm/episode/6zoL50ZotZNHgcYzPYiS
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Had incredible fun with Rod and Dick. Could have rolled for 2 more hours. I only wish I’d not held back so much laughter so the audience could hear how much fun we were having/
https://fountain.fm/episode/UkeJzFjPn5698ppYFvuT
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I’ve been asking what a gander is for a very long time. A decade of gander equality and gander reveal parties got me nowhere on my quest:
Jon answered a long.held question I’ve had and I can finally pursue more productive quests.
https://fountain.fm/episode/38dGP11p4it2qBlrMsPt
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Damn. This was really really good. One hardware company pays for marketing their narrative to a majority of Bitcoin users.
Hardware companies need to transcend trust and influence.
UM is the resistance.
https://fountain.fm/episode/KpUESwIDE6H4waFEHJoC
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Never sell your sats!
Unless you want to support a thriving community that will enable you to live a fraction of the life you imagined when you first understood Bitcoin.
A mission statement is not a gesture of strength and focus but a letter of surrender.
It’s implied that we want to be the best and dominate. Natural selection already provides this non-verbal mission statement and everybody knows it.
The only reason to have a “mission statement” is to communicate a focus that is other than the natural implied one of being the best and dominating.
It’s either a lie or a surrender. Either way, it’s weak as hell.
It’s impossible. If it were up to me it would never happen and I’d just get in my car and go somewhere if I saw I had the bkock of time.
Lucky to have my wife for stuff like this.
I still hop in the car with my kids and travel once in a while too.
Boosting for my nostr friends. If you never heard this, this is one of the best rips I’ve ever done. Very proud of it and allow Sly a lot of latitude to give me shit because of the respect I developed for him.
https://fountain.fm/episode/h13P6Lu0jHIHUC4tZUGR
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Give this a listen! Steven is infinitely more interesting than a big name influencer - this is the genius of HHR!
https://fountain.fm/episode/AheTTnigjt4RBL3QujAD
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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
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“Medi is a big beefier and he likes to get his hands dirty.”
Most ungovernable shit I’ve heard here yet.
Also - Alex’s essay is of incredible value. Another Action News banger.
https://fountain.fm/episode/KGoQpcq2dVTV7bOq15Yt
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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.
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.
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.
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?
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.
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