The ratchet effect’s inexorable advance poses a constant threat to individual liberty and economic prosperity. History teaches us that emergency measures, however well-intentioned, tend to metastasize into permanent restrictions on our freedom. As we weather the tempests of crises, we must remain vigilant in defense of our fundamental rights and the engines of economic growth.

nostr:nevent1qqszac7fetf8usp683t55rz3eclk9pwp40g7fx3muhc87stg64c6kscpzdmhxue69uhk7enxvd5xz6tw9ec82c30qgsxg87ngznkywfxp7e2daquxw6wd9a7geczy8aj3u2e3zttcamuflsrqsqqqqqpf2ulms

nostr:nevent1qqsg8knlvyypzp78xvt37tnxpplpcmtj7a7cgd8esyv439wvlqj4trspzpmhxue69uhkummnw3ezuamfdejsygza2jzvsjt84tpesmx4z2hcmnw4yseapyq6mwa4jgmqzxyy9qa2rcpsgqqqqqqsxrj2p9


“Those who fail to engage with economic issues and instead place blind trust in so-called experts surrender their agency and submit to the domination of others.”
🫡


Fueling a Freer Future

https://www.youtube.com/watch?v=d2nchSsI7co


Thanks for the kind words and for sharing it 🙏


Who said I'm not coming to ChiBitDevs?

I'm always down to go in on some beef ser 🤝


Thanks brother 🤝

Hope to catch up with you soon


Looking forward to the next few days 🤙


 GM ☕ nostr:npub1theparkprcs70dcs437ke9zzwsr6u60f8flu7rg28m30438aep9sd94dha

https://image.nostr.build/b024596a1a0cc615ca6463d644bc99fc86ab666b9af581bcfa0d0ff33df914a2.jpg


GM ☕


Bitcoin L2's, LN, BTC++, Base58 - Lisa Neigut  ( nostr:npub1e0z776cpe0gllgktjk54fuzv8pdfxmq6smsmh8xd7t8s7n474n9smk0txy ) (SLP509)

https://fountain.fm/episode/lJtiI5MRtgMxj8aSEMsJ

nostr:npub1r8l06leee9kjlam0slmky7h8j9zme9ca32erypgqtyu6t2gnhshs3jx5dk 🤙


BTC146: Broken Money 2/2 w/ nostr:npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83a

https://fountain.fm/episode/bWDWFvdxBFCiixr6fw5U

nostr:npub1s5yq6wadwrxde4lhfs56gn64hwzuhnfa6r9mj476r5s4hkunzgzqrs6q7z 🤙

nostr:nevent1qqs2tjg058dzn0n4q58wyt2ks8s5cld7t6s69j6sysmarwhdc0yamscpzdmhxue69uhk7enxvd5xz6tw9ec82c30qgs964yyepyk02krnpkd2y403hxa2fpn6zgp4kamty3kqyvgg2p658srqsqqqqqpkvklv2


Economics, Mises pointed out, is too vital to be confined to the esoteric realms of academia. It grapples with the fundamental issues of society and belongs to all. By empowering the public with a deep understanding of economics, economists equip individuals with the ability to critically evaluate market mechanisms, expose economic myths, and resist the lure of misguided policy interventions. Far-reaching economic education fortifies society against the destructive influence of coercive utopianism, fostering a culture that values individual liberty, entrepreneurship, and long-term prosperity. As such, it is our shared responsibility to vigorously disseminate the light of economic reasoning, banishing the fog of fallacy and unlocking humanity’s boundless potential.

nostr:note1wdj0myfu8psw0qp8nvstul9plckhsnyzcx20cqtzzcp9l6j3q3jsdg7xxc


TIP574: Broken Money 1/2 w/ nostr:npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83a

https://fountain.fm/episode/WaoKKIOoMkLNiglMKf59

nostr:npub1s5yq6wadwrxde4lhfs56gn64hwzuhnfa6r9mj476r5s4hkunzgzqrs6q7z 🤙


The Austrian School's Deductive Approach: A Beacon for Economic Understanding

My latest from the #Mises Institute

https://mises.org/wire/austrian-schools-deductive-approach-beacon-economic-understanding


Had a BLAST w/ Steve Lubka nostr:npub1dvufvl73s0xdz8d75dgcyjvl0wrmczczvr0ef88g5x8uehmr4fus0j0pwx  in BCB125!

⇒Inflation misconceptions
⇒What #Bitcoin  does (& doesn’t) protect against
⇒Pitfalls of command & control economies
⇒#BTC  for HNWI
⇒Sunning our 🍒

🎧 https://fountain.fm/episode/1VISxE0r9Bu2ONngk4iK https://cdn.nostr.build/i/782686ae60f1d978928847867e6d60fa45a736f44bc2d7bc66692d2df8d74d08.jpg


See you down there 🤙


💥🔥⚡Shout out to Chicago Bitdev’s own nostr:npub1t42gfjzfv74v8xrv65f2lrwd65jr85ysrtdmkkfrvqgcss5r4g0qk487qz  for joining for a great chat about #Bitcoin, meetups, strategies for learning and more!

Reluctant to give an "elevator pitch", because you can't make a horse drink water, he nails why he believes #BTC will succeed!

Full episode is now available https://youtu.be/9NbdCorT-7I https://video.nostr.build/3df70ce2b1c49c51e3359242cb229c48fd190bebadf2e86704f841721e38908b.mov


Noded 85 On Drivechains

https://fountain.fm/episode/G3TUw5DXiTyR1vPSEwA5

nostr:npub1j4u5gjzjyggr3h96x3gjy4akdgwxuk7mgvumv72gym2qyje7fn5s47d6x9
nostr:npub1hxwmegqcfgevu4vsfjex0v3wgdyz8jtlgx8ndkh46t0lphtmtsnsuf40pf

🤙


Let's build builders, let's build on Bitcoin, let's learn, let's educate, no pleb left behind, and everyone has the ability to contribute in some way.

nostr:nevent1qqsvjymz25vpy36kc58tmxj4f3h40z964cm7tcjaezyxywzjvn5vxkspz4mhxue69uhhyetvv9ujuerpd46hxtnfduhsygz3l248w96p44232rhr38j6qm4adg4y9255zjkn7pnvzahjcfnptvpsgqqqqqqsmuz05d


Know Thyself


nostr:npub1hw4zdmnygyvyypgztfxn8aqqmenxtwdf3tuwrd44stjjeckpc37q6zlg0q Read_762 - Bitcoin's Security Model Deep Dive ( nostr:npub17u5dneh8qjp43ecfxr6u5e9sjamsmxyuekrg2nlxrrk6nj9rsyrqywt4tp )

https://fountain.fm/episode/9062ZLqRebSewDZH4SS5

nostr:npub1h8nk2346qezka5cpm8jjh3yl5j88pf4ly2ptu7s6uu55wcfqy0wq36rpev 🤙


https://image.nostr.build/f63b3af59e89c6f756c641936a30df11fa5b86f5d4973116e13c5a9e850d587b.jpg

Time preference is a foundational concept because it provides deep insights into human behavior and the inner workings of the economy. At its core, time preference captures people's subjective preferences for current versus future consumption. This preference to satisfy wants sooner rather than later is a ubiquitous feature of human action. Time preference explicates people's natural incentive to consume now rather than save and wait. It therefore helps elucidate saving and consumption patterns across society.

Moreover, time preference is embodied in the interest rate, which is the price paid to forego present consumption. Interest rates arise naturally from individuals' varying time preferences and willingness to exchange present for future goods. Interest rates therefore signal society's time preferences and coordinate distinct preferences into a coherent structure of production over time. They provide entrepreneurial insight into the tradeoffs between current and future consumption, allowing for rational allocation of resources across the stages of production.

Time preference illuminates intertemporal decision making, the phenomenon of interest, saving behavior, capital structure, and economic coordination over time. By analytically grounding many disparate economic phenomena in the simple fact of human preference for present over future, time preference facilities a unified and profound understanding of the market economy. Time preference thus sits at the heart of economic insights about prices, capital, business cycles, and the transcendent ability of markets to align individual choices and social outcomes over time.


fue muy delicioso


#foodstr #steakstr
https://image.nostr.build/00ed61eb45854cbab7d3f0cca9afba77ab05c0c6a10fa21d9386b99ecc3dafc3.jpg


nostr:npub10uthwp4ddc9w5adfuv69m8la4enkwma07fymuetmt93htcww6wgs55xdlq  #269: Bitcoin Mining Saves Texas Grid

https://fountain.fm/episode/imNUa7SPmpcKt1XiJEQZ

nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx
nostr:npub1guh5grefa7vkay4ps6udxg8lrqxg2kgr3qh9n4gduxut64nfxq0q9y6hjy

"ToldaYaSo" = 💜

nostr:nevent1qqsy0333frrfu82k2k5w06mp2n0azcyzdg5p9wz3gkas3vamgkj4nncpzemhxue69uhhyetvv9ujumn0wd68ytnzv9hxgq3q0uthwp4ddc9w5adfuv69m8la4enkwma07fymuetmt93htcww6wgsxpqqqqqqzac9aq3


🎶 Sjors stacks sats, Sjors stacks sats, Sjors. Stacks. Sats. 🎶

Congratulations nostr:npub1s6z7hmmx2vud66f3utxd70qem8cwtggx0jgc7gh8pqwz2k8cltuqrdwk4c 🎉

nostr:nevent1qqsrlaxn8cgpdv0ynfvafc7mm4plx6c9h7pd2qd9a3pc5mqengdsheqpzdmhxue69uhk7enxvd5xz6tw9ec82c30qgs8suecw4luyht9ekff89x4uacneapk8r5dyk0gmn6uwwurf6u9rusrqsqqqqqp32njkc


If the base layer ossified now, custodial solutions will be the only option for most users in the future.

Layer two is not a magic incantation. For layer twos to optimize and improve, new functionality on the base layer is required. Layer twos are literally just things built on the functionality of layer one. The limitations of layer two are a direct result of layer one limits.


CV157: nostr:npub1art8cs66ffvnqns5zs5qa9fwlctmusj5lj38j94lv0ulw0j54wjqhpm0w5 Genesis Book

https://youtu.be/1LHOcg5HTmI?si=vU1cPXs8Mw28XyU4

nostr:npub1ath4je07y7py74nvu044fum3f8hz3exc3dtcv782qg94w5gaddusl74k6d 🤙


 In cryptography, we find liberty.

nostr:nevent1qqsrh25c32sqwquly3cmw9hwtz0wakjpqt4w6x6wl0dlaq2h923cxpcpzdmhxue69uhk7enxvd5xz6tw9ec82c30qgsqfjg4mth7uwp307nng3z2em3ep2pxnljczzezg8j7dhf58ha7ejgrqsqqqqqpfk6sd5


It's worth revisiting periodically as it delivers powerful messages about how individuals united in the struggle against oppression are intricately connected.


One of my favorites as well 💜


My life amounts to no more than one drop in a limitless ocean. Yet what is any ocean, but a multitude of drops?

nostr:nevent1qqspwhhrt4chz5lecpaltdvpgk6fkqelj0f6ks049rr0zjhkcv5r5zgpramhxue69uhkzarvv9ejumn0wd68ytnvv9hxgtmfdemx76trv4esygrwg6zz9hahfftnsup23q3mnv5pdz46hpj4l2ktdpfu6rhpthhwjvpsgqqqqqqstulw5e


😅

nostr:npub1g0587hzzckcncxfm78n0996qe2s58nspy29wf02tqcj5sdzcpj4q6j40hv
https://image.nostr.build/7ebcdf803de253622a110689cc26a305b65d9fbe1bd9f5f69f307a692e380290.jpg


This piece from nostr:npub1tq7z72r2g859ucwfmr4qne8ft6v2z38c2qlqhmq098q4qpvv5m0svhxzxp is a good start.

https://unchained.com/blog/too-many-bitcoin-utxos/


nostr:npub139nl9yxvwayl60fr97m3zrq9md6x5v0uup344mkyuyg6mzlusyxs4zkwf4 on the Future of Lightning Payments, Taproot Assets, and River's Lightning Node

https://fountain.fm/episode/fGujz7KzjYIG9RIzfPgk

nostr:npub1pzuqm2zm569vqvvgt6j4t26zhdpzx877nd5sh0g0frqj3halsqysmkl6hp 🤙


Most people are beyond persuasion.

This does not mean we should surrender to the forces of economic illiteracy, or give up trying to win hearts and minds for political liberty. On the contrary, we should redouble our efforts to cultivate anyone interested in civil society, real economics, markets, property, and peace - especially those under thirty. But this is not a numbers game. We should focus on those who can be reached, not some mythical majority. Our task is to reach some people narrowly and deeply, not a majority of people superficially. We stand in contrast to the white noise, and opposed to the superficiality and anti-intellectualism of our age. Mobilizing the few is far more important and far more effective than foolishly trying to persuade the many.

- Jeff Deist


Let us not fear being accused of hyperbole or alarmism. Let me ask you this: what happens if we're wrong, and what happens if they're wrong? What they are doing, meaning central bankers and national treasuries, is unprecedented. Fake money is infinite, real resources are not. Hyperinflation may not be around the corner or even years away; no one can predict such a thing. But at some point, the US economy must create real organic growth if we hope to maintain living standards and avoid an ugly inflationary reality. No amount of monetary or fiscal engineering can take the place of capital accumulation and higher productivity. More money and credit is no substitute for more, better, and cheaper goods and services. Political money can't work, and we should never be afraid to attack it root and branch. We need private money, the only money immune from the inescapable political incentive to vote for things now and pay for them later. If this is radical, so be it.

History shows us how money dies. Yes, it can happen here. Only a fool thinks otherwise.

- Jeff Deist


Here is an unspoken truth: inflation also makes us worse people. It degrades us morally. It almost forces us to choose current consumption over thrift. Economists call this high time preference, preferring material things today at the expense of saving or investing. It makes us live for the present at the expense of the future, the opposite of what all healthy societies do. Capital accumulation over time, the result of profit, saving, and investing, is how we all got here today a world with almost unimaginable material wealth all around us. Inflationism reverses this.

So this very human impulse, to save for a rainy day and perhaps leave something for your children, is upended. Inflationism is inescapably an antihuman policy.

- Jeff Deist


Inflation is nothing less than sanctioned state terror, and we ought to treat it as such. It's criminal. It makes us live in fear. Inflation is not just an economic issue, but in fact produces deep cultural and social sickness in any society it touches. It makes business planning and entrepreneurship - which rely on profit and loss calculations using money prices - far more difficult and risky, which means we get less of both. How do you measure money profits when the unit of measurement keeps falling in value? It erodes capital accumulation, the driver of greater productivity and material progress. So, inflation destroys both existing wealth and future wealth, which never comes into being and thus diminishes the world our children and grandchildren inhabit. And it makes us poor and vulnerable in our senior years.

- Jeff Deist


Austrians stress the time element of interest rates, comparing the lender's willingness to forego present consumption against the borrower's desire to pay a premium for present consumption. In Austrian theory interest rates represent the price at which the relative time preferences of lenders and borrowers meet.

Negative interest rates are the price we pay for central banks. The destruction of capital, economic and otherwise, is contrary to every human impulse. Civilization requires accumulation and production; de-civilization happens when too many people in a society borrow, spend, and consume more than they produce. No society in human history previously entertained the idea of negative interest rates, so like central bankers we are all in uncharted territory now.

Our job, among many, is to bring the insights of Austrian economics on money and banking to widespread attention before something truly calamitous happens.

- Jeff Deist


nostr:npub1hxwmegqcfgevu4vsfjex0v3wgdyz8jtlgx8ndkh46t0lphtmtsnsuf40pf
https://image.nostr.build/bc6341538400c702b4f965aaa6b3a34a4f8c4c55715a14051e2daa59ec465d0c.jpg


"Attempts to carry out economic reforms from the monetary side can never amount to anything but an artificial stimulation of economic activity by an expansion of the circulation, and this, as must constantly be emphasized, must necessarily lead to crises and depression. Recurring economic crises are nothing but the consequence of attempts, despite all the teachings of experience and all the warnings of the economists, to stimulate economic activity by means of additional credit." - Mises

The key words here are "as must constantly be emphasized." It is incumbent on all of us to do everything in our power to make the case against central banking, one of the great evils of our time. We must make the case against the Fed loudly and repeatedly, even as the world is in thrall to it. - Jeff Deist


The Wire


How Money Broke with nostr:npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83a

https://fountain.fm/episode/PaV71xgdbOD5TEsxMNGI

nostr:npub14mcddvsjsflnhgw7vxykz0ndfqj0rq04v7cjq5nnc95ftld0pv3shcfrlx 🤙


CD109: Bank Run on Binance? with nostr:npub1pyp9fqq60689ppds9ec3vghsm7s6s4grfya0y342g2hs3a0y6t0segc0qq

https://fountain.fm/episode/BiSG3WnQ5KSTGWIPSSvV

nostr:nevent1qqs9nff8j5clclt28q5fmmx9q98mqz7w78ga6hu3spje927nx4e2svqppemhxue69uhkummn9ekx7mp0qgsqfjg4mth7uwp307nng3z2em3ep2pxnljczzezg8j7dhf58ha7ejgrqsqqqqqp7xzglz


Bitcoin for Advisors Episode 14: Drivechains and the SEC Lost

https://fountain.fm/episode/HMPtZfKthmEn6cGitfTf

nostr:npub1hxwmegqcfgevu4vsfjex0v3wgdyz8jtlgx8ndkh46t0lphtmtsnsuf40pf
nostr:npub1rexyltl8ke389qlxqc0707rz77fuuqzdsdd69vlzneaz2p9vnkaq4l6u3c

🤙


https://image.nostr.build/386f2f638c54e325fe87e9a06b38fdf7794111ad112764455fad3c057e742043.jpg

Having a plan can indeed be beneficial in many aspects of life, but when it comes to economic systems, the perspective differs. Central planning is hubristic - no group can possess enough knowledge to efficiently allocate resources across an economy. The free market's price system provides a decentralized mechanism for gathering and transmitting necessary knowledge. Competition and free exchange incentivize local knowledge and adaptation. Economic planning disrupts this emergent order by overriding market signals with coercive state power. The conceit that central decision-making is superior reflects a faith in coercion and disdain for individuals' dignity to choose. Spontaneous order harnesses more knowledge than any top-down scheme. It's not a matter of "no plan" but rather decentralized planning by countless actors, which can often lead to more efficient resource allocation and innovation compared to centralized planning in socialism.


The Perils of Premature Protocol Ossification by nostr:npub17u5dneh8qjp43ecfxr6u5e9sjamsmxyuekrg2nlxrrk6nj9rsyrqywt4tp

Precautionary considerations for all of those who are clamoring for ossification.

https://youtu.be/glX2Y-VVNnI?feature=shared


Ever since around 2013/2014, bitcoin’s price has closely followed the rate of change in the growth of global broad money supply (M2) in USD terms.

In other words, from the perspective of macro investors (which are generally different than network users), it is the asset that best serves as a pure-play on changes in global liquidity. It’s a hedge against monetary inflation, not CPI inflation.

Notably, the dollar index relative to other major currencies strongly affects global monetary inflation.

So in order to have a view on price within any intermediate term timeframe (eg the people calling for new ATH prior to the next halving), it’s important to have a view on global monetary inflation and liquidity, because that is primarily where new external demand comes from.

Right now, bitcoin is a coiled spring on the supply side (fast money is out, coins have rotated towards strong illiquid hands), but the demand side (and thus the price) is largely a question of global liquidity. https://cdn.nostr.build/i/3b113b8f8f5b963cf061f80c4b81d35150faf223341c6eb7afbcee42badc1d6e.jpg


Get this guy done⚡aps


"Your dollar ain't shit"

But have you ever asked yourself why?
We're getting scammed & we ought to understand how...

#Bitcoin #grownostr #footstr

https://cdn.nostr.build/p/lkKv.mov


nostr:npub1h8nk2346qezka5cpm8jjh3yl5j88pf4ly2ptu7s6uu55wcfqy0wq36rpev

🤙


You must take personal responsibility. You cannot change the circumstances, the seasons, or the wind, but you can change yourself.

nostr:nevent1qqst58ktsw38zcnystrsa3dfjzy8jvxurm043yyzvdvrgs5cvu5wmdgpzamhxue69uhkxcfwdaexzmn8v4cxjmrv9ejx2aszyqzvj9w6alhrsvtl5u6ygjkwuwg2sf5lukqskgjpuhnd6dpal0kvjqcyqqqqqqgan2qdq


Seriously! Dhruv's perspective is wholly unique and makes complete economic sense. 🤯


Rabbit Hole Recap #264: Fitch Eyes US Default as "Soft Landing" Narrative Falters

https://cdn.nostr.build/i/9226936725666a8f2847ce5fc08b3de04d857c57a9a728b74c5ec5a41672a088.jpg

https://fountain.fm/episode/lJU2gfsaojiAdmFFEAqh

nostr:nevent1qqsv0c7qpr9rukgkzwee8z2gk7634gzvjqp9fyhnuwz0hcm0v98cvhgpzamhxue69uhkxcfwdaexzmn8v4cxjmrv9ejx2aszypl3wacx44hq46n4483nghvllkhxwem04leyn0n90dvkxa0pemfezqcyqqqqqqg0rfnvy

nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx
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🤙


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🤙


🤝

https://media.tenor.com/Tpf-ZXgC0qUAAAAM/django-unchained-riding-into-the-sunset.gif


It means you're principled. It's it comes with the territory unfortunately.


"Our cause is the cause of all mankind…we are fighting for their liberty in defending our own"

#[0]


CD100: The Disturbing Chainalysis Led Prosecution of Roman Sterlingov with Mike Hassard and Tor Ekeland

https://fountain.fm/episode/14846820073

#[0]


The ever expanding State authority and dwindling of our individual liberties is snot a laughing matter.

Bitcoin is hope 🤧


"There are plenty of rational reasons to be a maximalist. But I suspect many of the “latest generation” maximalists did not arrive at their conclusions by following the same path as the OGs. Many may, in fact, have short circuited the rationale and have been spoonfed the memes / narratives / idioms without digesting the substance from which they sprang."

https://fountain.fm/episode/14838615259

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#[0]

https://nostr.build/i/nostr.build_e44fa2a9d509e4f4d1ab689b3b16f82ec7444291088a92c963dc233d232acf8b.png


Rabbit Hole Recap #244: Bitcoin Fixes This

https://fountain.fm/episode/14170607122

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