The journey down the rabbit hole to understand Bitcoin creates a cognitive dissonance in our minds where our former beliefs are challenged and disrupted.
A mental discomfort is created by trying to hold onto contradictory beliefs - (ie -  Free market is deflationary + inflation is required to allow society to function) and then trying to rationalize previous beliefs.
That’s why it’s so hard for “experts” or those successful in the old system to see it.

But it’s not negotiating with them - it is imposing reality on them.

Enjoy the ride my friends.
#Bitcoin


Another great episode by Guy!

https://fountain.fm/episode/nOo60atdUSRARvt4JI6s

nostr:nevent1qvzqqqpxquqzpufwuzask2l522gh5qjjf76lj9zwmhuh352xspxz46759jj762wcezs2u7


Hello Nostr!

This npub will now be a primary outlet for Bisq news and announcements.

New posts will be published here and then cross-posted to the bisq_network X handle.

Decommissioning X will be considered when this npub has more followers.

https://image.nostr.build/d22f07d646197146e2366f581046c3578d6cb90a9524212d076a2571840d91cc.jpg


had to look this up but its true. reserve ratio requirement is still at 0%. lmao. https://i.nostr.build/p0apWUrfaVZYvCM3.jpg


Aaron Swartz would have loved nostr.

Effectively the culmination of his life’s work.

1999: At the age of 12, he co-authored the RSS 1.0 specification, which is a format for syndicating web content.

2000: Swartz became a member of the Creative Commons organization, which aims to expand the range of creative works available for others to build upon legally.

2002: He founded the Infogami platform, which later merged with Reddit.

2005: Swartz joined Reddit as a co-founder after a merger with Infogami.

2006: He left Reddit and began working on various projects, including the development of the web application framework, "Open Library," which aimed to create a web page for every book ever published.

2008: Swartz was involved in the development of the "Demand Progress" organization, which focused on issues related to internet freedom and government transparency.

 2010: He played a significant role in the campaign against the Stop Online Piracy Act (SOPA) and the Protect IP Act (PIPA), advocating for internet freedom. He also developed a tool that allowed users to download large amounts of data from PACER  (Public Access to Court Electronic Records), which was typically behind a paywall.

 2011: Swartz was arrested for downloading a large number of academic journal articles from JSTOR with the intent to distribute them freely.  The U.S. Attorney's Office in Massachusetts pursued the case against Swartz, and he faced the possibility of severe penalties, including up to 35 years in prison.

 2012: On January 11, Aaron Swartz tragically passed away at the age of 26. He allegedly took his own life due to the pressure of government prosecution.

https://cdn.satellite.earth/43780cc29e73f0ac8a226aba6e3ca93422a9022c4b27422995e5b99127d8d900.mp4


“Owning #Bitcoin means we own the fucking future and we have a seat at the table and we're going to get to say how things operate.” - nostr:npub1rtlqca8r6auyaw5n5h3l5422dm4sry5dzfee4696fqe8s6qgudks7djtfs

https://v.nostr.build/mTgREcE4zYE5QhFM.mp4

Episode >> https://bitcoinpodcast.net/words/f/embrace-the-chaos-preston-pysh-x-american-hodl


Talk of ETF approval misses the forest for the trees. It's not just about immediate reactions or flows

It's about the recognition of $BTC as an institutional asset. Pensions, endowments, insurance investment portfolios, etc., will soon be entering the arena with passive buy-side flows for the long term.

In December 2020, Mass Mutual invested $100m into bitcoin. https://t.co/xdMyT7Dxxi

MASSIVE.... except not really. Mass Mutual manage $235b in assets, with long-dated fiat liabilities. https://tinyurl.com/yz3b4hpn

$100m of $BTC is a ~0.05% allocation...

Large institutional investors don't purchase something to flip it the next month. They are constructing portfolios for multiple decades.

A 0.05% allocation is just the start. There are many more many more Mass Mutuals out there, and all of these allocators are staring at their bond portfolio which is -50% from ATHs, questioning previous assumptions they held.

The endorsement by the likes of Larry Fink isn't a sign that Larry is suddenly a bitcoin bull, it's a sign that clients are knocking on BlackRock's door, asking for a vehicle to gain exposure.

The narrative violations are strong. Passive accumulation starting from the $69k ATH has you +45% right now on your bitcoin position. The same passive allocation into long bonds has you -12%.

"But the volatility!" Again, it's a misunderstanding of time horizon. A ~1% allocation to an asset that they don't plan to liquidate for years/decades, with an extremely strong sharpe ratio, is within their risk profile. If you want proof, just look at the rest of their portfolio...

- No, the orange coin is not going away.
- No, it did not die when FTX collapsed.
- Yes, supply is more tightly held than ever before.
- Yes, perpetual credit expansion of the fiat monetary system is an ongoing reality.
- No, there is no sense of fiscal austerity present ANYWHERE.
- Yes, this illiquidity means marginal flows into the market sends the price higher, which is why all of these institutions will start with a tiny ~0.05% stake, while continuing to passively allocate steadily for the long-term.

Reinforcing this all is the shift in narrative and negative bias around 'energy usage' and mining, evidenced by new academic papers on mining as a tool for balancing the grid and monetizing waste energy:

- Bitcoin could support renewable energy development, Cornell Engineering, https://t.co/EZopJJAM2i

- Leveraging Bitcoin Miners as Flexible Load Resources for Power System Stability and Efficiency, Co-authored by former ERCOT CEO, https://t.co/PEpGE65la1

- From Mining to Mitigation: How Bitcoin Can Support Renewable Energy Development and Climate Action, ACS Sustainable Chemistry & Engineering, https://www.resistance.money/research/mining_to_mitigation.pdf

The landscape and profile of the asset has shifted. It's not about the ETF, it's about the reason WHY the ETF is coming. Institutional exposure has been given a green light. It won't happen all at once, but understand the shift that is underway.

Bitcoin has been passively accumulated by individuals and retail for sometime now, while institutions mostly watched the madness from the sideline. This is changing.

Welcome.
https://m.primal.net/HRqB.jpg
https://m.primal.net/HRqC.jpg
https://m.primal.net/HRqD.jpg


There is no red.
There is no blue.
There is the State.
And there is you. https://i.nostr.build/AJr7.jpg


GM

https://i.nostrimg.com/876ca1668c9d6bfee5db49a4141ae0ef2e8694aa9d072a63d194727f8d748eb4/file.jpg


It is November 1, 2023 and **93%** of all the #bitcoin that will ever exist has been mined.

The majority of it is in long-term storage, or lost forever.

Over the next 117 years, billions of people will compete over the remaining 7%.

Study #Bitcoin

Video via nostr:npub14uhkst639zvc2trx2nlsvk4yqkjp690zk89keytnzgmq2az0qmnq58ez89

https://youtu.be/PBsmDwZFR6c


The world is headed in this direction. Resist now or suffer in tyranny forever.

https://video.nostr.build/ed59c268dca89b8a259c9c667ef23101de94cd212f1379a96f6b139a2f88541b.mp4


"The world has a privacy problem"
      — nostr:npub1sn0wdenkukak0d9dfczzeacvhkrgz92ak56egt7vdgzn8pv2wfqqhrjdv9


There is no red.
There is no blue.
There is the State.
And there is you.

https://v.nostr.build/wqEd.mov


#bitcoin fixes this 🫶🫶

https://image.nostr.build/3a16f3a90559b062e1c4a9f287f6d36abc587c696204abcf1fa32ed304d394c2.jpg


We live in a world where you're born into a country & that's the money you use

It's like a casino, where you get given chips that you can only use at that casino; & the casino next door has its own chips. This cannot be the best system 🎰
- nostr:npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83a nostr:npub1s5yq6wadwrxde4lhfs56gn64hwzuhnfa6r9mj476r5s4hkunzgzqrs6q7z

https://image.nostr.build/7b629e6e821e702b6e39b2c1bd267e351f4f229b44d6c63f8e85c23ddeb526e3.jpg


On BitBoy and Moral Degeneracy
---------------------------------

BitBoy was arrested after his Lamborghini was stolen, an event he even live-streamed while confronting the thief. Ironically, a person who has been accused of defrauding others was indignant when he himself became a theft victim. But this is not just an isolated event; it shines a spotlight on a wider issue of ethical decline.

Individuals who willingly defraud others lose all sense of justice when they themselves are wronged. This mindset echoes socialist ideologies that champion the idea of seizing property—unless, of course, it's their property that's in jeopardy.

Double standards have become the norm, especially in politics. Some people, whether due to their minority status or alignment with popular political stances, are given a pass for unethical conduct. Meanwhile, others face public scorn for lesser offenses. This normalization of double standards paves the way for bad behavior, as exemplified by BitBoy.

But let's be clear: BitBoy is far from being the worst offender; he's simply the most visible one. This cycle of deceit, fraud, and theft will persist until we start stigmatizing moral decay. And that will only happen when our leaders stop getting away with their own moral lapses, which unfortunately are way too frequent under fiat money. They can and do abuse their position for personal gain, stealing from everyone else in the process. As long as the temptation of stealing from everyone else is there, and easily obscured by talk of "greedy corporations" and "perfect storm" of "unexpected circumstances" we're going to just see this moral degeneracy continue.

The way to stop this is not reform, but a different financial system that doesn't have so many holes. Bitcoin, as you might expect, is that system.

Fiat delenda est.


Chase won’t let you buy #Bitcoin but they’re perfectly fine with laundering fiat money and facilitating sex trafficking for Jeffrey Epstein. https://i.nostr.build/4ny3.jpg


In the last couple of years we went from "innocent until proven guilty" to "prove your innocence". Because that's what KYCing and surveillance is.


Gonna try this!

nostr:nevent1qqsy9m6wf7dh6k5vt6r0rd3cfa7qchccm9mfxac54asp6j7lm55fs9gpr3mhxue69uhkummnw3ezucnfw33k76twv4ezuum0vd5kzmqzyqewrqnkx4zsaweutf739s0cu7et29zrntqs5elw70vlm8zudr3y2qcyqqqqqqg69s5yr


“The Turkish Lira is practically worthless, and people avoid holding onto it any longer than they must. The race to acquire safe-haven assets is constant. Affluent citizens turn to real estate or gold bullion. Cars, especially luxury ones from Germany and Italy, are seen as assets due to import restrictions. For the average person, gold coins and foreign currencies, particularly U.S. dollars, are tucked away safely at home. Even everyday items like detergent, which do not expire and are universally needed, are preferable to the Turkish lira. Once salaries are paid, households bulk buy these items to stockpile and potentially resell. This is hyperinflation in action.” — nostr:npub13vepw9xdhjzhp87lv5h7z2jgzteltmzqe4scjsn9dtwwncz6ekms5p489d and nostr:npub1qy2tkywa36ufh76qv62snv4953eayufxufav4evz2le06lxe2amqpxavna for nostr:npub13tctmes9ug5gcj4huj92ryw2ky600l62xwmkssdn9mmkf8y0u6jq5g7qx7

https://www.btctimes.com/news/how-turkey-is-embracing-the-bitcoin-era


🇺🇸 SEC’s Chairman Gensler:  We are reviewing Grayscale court ruling and all spot Bitcoin ETF applications.

APPROVE THEM ALL‼ https://image.nostr.build/d351fc0e7f87c1c2cc05f073744084e5db92607160829e4714bd38be2f37164a.jpg


For sovereignty to be widespread it must be part of a social contract. People must come and together deploy these systems for the common good. Sovereignty only extends so far as the cooperation of one's fellows in society.

https://blog.lopp.net/sovereignty-vs-society/


Bhushan

Amateur Investor, Bibliophile, Pragmatic , Agnostic, Daydreamer, Tech enthusiast, Tinkerer with an OCD for order.
PhD at @NImmunology.