nostr:npub1s9z7pwy96thwt7zvmrlpfnddstezxxphx9rx3m0660sgkwld9eescjnszc

https://image.nostr.build/7532a663d7c032ec976d5f59967007dabb9fb8c86efaec2a38fda8c946b25ec1.jpg


Ludwig the Builder https://a.co/d/07TOGEk


Teach them young

https://image.nostr.build/6ad86dc829a448b708e1488e15764801c76d0cd60de74d907d0619a74b9f665e.jpg

https://image.nostr.build/fa4f1f6afeea82fdd5a1e6b2fa2e6ffc85bb4cf5dc894f3903cebce96ced8449.jpg


Will Bitcoin Lead to Anarchy? with Max Borders

https://fountain.fm/episode/BNQryFTQnRSsDOerq7vw


Count your blessings each day 🧡💜🧡


Hugged my wife
Laughed with my son


Nature's ledger (gold) has robust parameters for supply and debasement but doesn't move and get verified fast enough in the telecommunication age. Mankind's ledger (the dollar) moves and gets verified fast enough but doesn't have robust parameters for supply and debasement. The only way to fix this speed gap in the long run would be to develop a way for a widely accepted, scarce, monetary bearer asset itself to also be able to settle over long distances at the speed of light.

nostr:npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83a


The difference in speed between transactional commerce and bearer asset commodity money gave governments and banks a huge opportunity for custodial arbitrage. A centralized and globally interconnected banking system with a monopoly on fast long-distance transfers of value became too powerful and convenient for gold to keep up with, even if gold could still make for better private savings. The introduction of credit cards in the 1950s, e-commerce in the 1990s, and smartphone-based payments in the 2010s further cemented the importance of fast telecommunication-based payments.

This is the only time in history where, on a global scale, a weaker money won out in terms of adoption over a harder money. And it occurred because telecommunication systems introduced speed as a new variable into the competition. Gold, with its inherently slow speed of transport and authentication, couldn't compete with the pound, the dollar, and other top fiat currencies with their combination of speed and convenience, despite gold being in scarcer supply. The combination of legal tender laws, taxation authority, and greater speed has allowed fiat currencies to outcompete their slower but scarcer precious metal counterparts all over the world in terms of usage. This mismatch or gap in speed has been a foundational reason for the greater and greater levels of financialization that the world has seen over the past century and a half. Monetary ledgers became increasingly detached from any sort of natural constraint or scarce units of settlement, because the only scarce monetary alternatives such as gold were too slow to present a complete alternative.

nostr:npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83a


The Problem With "Classical Liberals"

https://fountain.fm/episode/yOlzvWz2GiITN9V6nf7Y


Bitcoin Merchant Adoption: This Time is Different? with nostr:npub1du6sgl90wse0cz44fg50a4kg9ea4sgctlxps90ccx58lw8ssgv9qhjyf3c

https://fountain.fm/episode/VPZUhjlafxKRMKnGcxLs

nostr:nevent1qqsw6g6dsrk4m3gtzgql4yc9v69ax85r70dzvwl7detj5jra8v58phqppemhxue69uhkummn9ekx7mp0qgspnlha0uuujmf07ahc0amz0tnez3dujuwc4v3jq5q9jwd94yfmctcrqsqqqqqp7q9zqt


The Corrupt Political Influence on Military Intelligence and Its Fundamental Role in State Propaganda

https://youtu.be/EpBc89yL-TE?si=YMt5HTMS8nXHxBrg

https://fountain.fm/episode/JeeSU4O9H4QRgn0VBEJ7


Talk with nostr:npub1r7psmkr4zv93xnal8un6d8hvmpsn5jvhfzn3kk38rfcel6awznks7znspg


The Economic Coercion and Repressive Tolerance' of the Woke Regime

https://youtu.be/LDjGYRiWRPs?si=Aty58c92NWjubYRo

https://fountain.fm/episode/tzpDXqDqLDSGNp1SjP3M


Bitcoin can be considered deflationary in nature because the total supply of Bitcoin is capped at 21 million coins, and as more people adopt and use Bitcoin, its scarcity can lead to an increase in value over time.


nostr:npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83a

https://image.nostr.build/0d236741f27a20647c590dbee68f57bd9c117cfe99a912865f3f55f7b2df0768.jpg


CD112: Lightning Node Security with Ken of the VLS Project (HSMS for Lightning)

nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx 🤙

https://fountain.fm/episode/u3avxDHnbpAQsVWyNNJM

nostr:nevent1qqs886v4j6tggz88wms55m9mcfvwzt59uvvat5eq0qnpkwyekjd8pdspzpmhxue69uhkummnw3ezuamfdejsygqyey2a4mlw8qchlfe5g39vacus4qnflevppv3yre0xm56rm7lveypsgqqqqqqs3ly8nu


Yesterday Unchained announced a major release - an enterprise collaborative custody network. It's an entirely new enterprise custody solution that eliminates any single company as a point of failure.

We announced the first 2 enterprise partners, UK-based Coincover, and qualified custodian Kingdom Trust as the first 2 enterprise keys available for inclusion in a multisig quorum to secure large bitcoin holdings.

What's different about this?

-Additional enterprise key agents are currently onboarding, we don't just have 2. More announcements soon, and you will be able to select the enterprise keys you'd like to use.
-Individual multisig wallets are generated per client and per key arrangement. Even if you choose not to hold any keys (legal reasons prevent you from holding keys), you have access to the multisig file, can verify your bitcoin on your full node, and recover externally from Unchained with the key agents using Caravan, Sparrow, or even Electrum.
- We will be able to offer "qualified" collaborative custody with categorically superior security for the bitcoin.

Centralized bitcoin custody is dead. Enterprise collaborative custody is available now. https://unchained.com/private-wealth-and-enterprise


nostr:npub1hw4zdmnygyvyypgztfxn8aqqmenxtwdf3tuwrd44stjjeckpc37q6zlg0q Read_768 - Living Through the Fall of Rome ( nostr:npub1xr4duv928lxxkl8ease7elutw77zmagph387az2fcg5clr2e43zq6sf6z3 )

nostr:npub1h8nk2346qezka5cpm8jjh3yl5j88pf4ly2ptu7s6uu55wcfqy0wq36rpev 🤙

https://fountain.fm/episode/KUcbmCQYjtFMHPIofepq


Limitless Money and the Limitless Fed

https://youtu.be/6Bc7KozVnaQ?si=8dr3P9VJeS7dOzQ5

https://fountain.fm/episode/Eaw6XNaoX70hfWYuogwd


After four years of work, James O'Beirne's ( nostr:npub1ta5sstxzpk7aykejp6cv8eul80m2rjfwvp3rgjw0xgjtp7s3ak5s0c96f7 ) assumeutxo option to allow instant UTXO set bootstrapping for your Bitcoin node is merged into Bitcoin Core.

https://bitcoinmagazine.com/technical/coming-soon-an-easier-way-to-bootstrap-your-bitcoin-nodes-utxo-set


BTC149: Parallels to the Roman Empire w/ Dr.  nostr:npub1xr4duv928lxxkl8ease7elutw77zmagph387az2fcg5clr2e43zq6sf6z3

nostr:npub1s5yq6wadwrxde4lhfs56gn64hwzuhnfa6r9mj476r5s4hkunzgzqrs6q7z 🤙

https://fountain.fm/episode/ljRLxD9b7CslIw3nmic2


So, regardless of technological knowledge, real economic growth requires an expansion of savings. An expansion in savings permits an increase in the stock of capital goods, while the increase in capital goods permits an increase in economic growth. Technological knowledge by itself is insufficient.

https://mises.org/wire/does-technical-knowledge-always-lead-economic-growth

https://fountain.fm/episode/9ZoQe6b7yi2JW6a2L4Y6


Prudent individuals and communities should strengthen local networks to weather the coming storm. While the precise timing remains uncertain, resilience comes from laying proper foundations in advance. A key aspect involves increasing involvement with one's local community and forging bonds of cooperation. Joining area organizations and neighborhood groups can foster mutually beneficial relationships and support systems invaluable when the currency buckles. With shared purpose, communities enhance their capacity to withstand the crisis.

nostr:nevent1qqsga3fjw4sfjsl6cl7sk4562p6x20yj8lu309rxwcmw7q9tmmphpcgpzdmhxue69uhk7enxvd5xz6tw9ec82c30qgsw4v882mfjhq9u63j08kzyhqzqxqc8tgf740p4nxnk9jdv02u37ncrqsqqqqqp3gqymq


nostr:npub1hw4zdmnygyvyypgztfxn8aqqmenxtwdf3tuwrd44stjjeckpc37q6zlg0q Read_767 - Pay Me in Bitcoin Theory ( nostr:npub1w69ya7xs697hk3hky3gllryz8rwverfa0ylz89chf9qnhfcskc2s64zltw )

nostr:npub1h8nk2346qezka5cpm8jjh3yl5j88pf4ly2ptu7s6uu55wcfqy0wq36rpev 🤙

https://fountain.fm/episode/fc9CD5h75Wpm2y2Or2og


BIP324 (p2p encryption) and AssumeUTXO (for testnet and signet) were both merged this morning! They'll be ready for testing in the upcoming v26 release.

Both features are opt-in.


Human interaction is, at its very core, a series of formal or informal credits and debits to others and is organized by rituals and rules that are tied to our evolutionary instincts, our earliest religions, and our earliest governing structures.

However, proponents of the credit theory of money tend to take their concept too far, often disregarding the importance of commodity money entirely, and generally painting too optimistic of a picture of a society's ability to govern a flexible, credit-based ledger at a large scale over long periods of time.

nostr:npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83a


Money is not an invention of the state. It is not the product of a legislative act. Even the sanction of political authority is not necessary for its existence. Certain commodities came to be money quite naturally, as the result of eco- nomic relationships that were independent of the power of the state.

Carl Menger


Many people consider money to be a shared delusion. In this way of thinking, a society can pick anything it wants as money, as long as most of its members believe in it. Paperclips could be money, for example, if we all agree that they are. While this seems true at first, it's not sustainable. If the supply of that money can be rapidly expanded, then everyone's savings can be rapidly diluted. And a monetary premium provides a lot of incentive for people to make more of it, if possible. Therefore, if a money is not selected wisely within a society, it only takes a small number of individuals to break free from their society's shared delusion to realize that its money isn't scarce, and make a lot more of it to extract value from everyone else. Alternatively, people from a different society can exploit that society's shared delusion. Therefore, the only types of money that can maintain usage in a society for a long period of time are ones with a significant degree of genuine scarcity to them.

nostr:npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83a


Fear the boom, not the bust

https://youtu.be/zJrQQy2gLY0?si=yc-lk7KjuH1OKvax


The Breaking of the Global Economy with nostr:npub1qw6e8meaj5gzk49alamh9qf35lpmml5sq7ctjtxhcjk55qppmcjs0j2v52

nostr:npub14mcddvsjsflnhgw7vxykz0ndfqj0rq04v7cjq5nnc95ftld0pv3shcfrlx 🤙

https://fountain.fm/episode/DiML6GeYQRrovcPjqYfG


Strength in restraint 😅


I got a little ambitious with my geode cake over the weekend and had some extra cakes leftover.

My husband's coworkers are in for a treat Monday morning 😁

Chocolate cake with toasted coconut cream cheese frosting

#cake
#bake
#food

https://image.nostr.build/2fd77a95bb70c4d58a662a60c907e898d473db9148fc87bd1d2056466799ad69.jpg

https://image.nostr.build/003745bb430ab8cd1902b53e366f5a0b2acc082ca79c451f47f72e7e4a0b30f2.jpg


HODLing through the cycles with American nostr:npub1rtlqca8r6auyaw5n5h3l5422dm4sry5dzfee4696fqe8s6qgudks7djtfs (SLP515)

nostr:npub1r8l06leee9kjlam0slmky7h8j9zme9ca32erypgqtyu6t2gnhshs3jx5dk 🤙

https://fountain.fm/episode/oWCz1QvVAtINVMN9smiu

nostr:nevent1qqs030s3wlwp2zsq8rweqjdzr9n5wfqvhhn39d3txgmfwg2tj60exxgppemhxue69uhkummn9ekx7mp0qgspnlha0uuujmf07ahc0amz0tnez3dujuwc4v3jq5q9jwd94yfmctcrqsqqqqqptxckar


🎯

A workforce crisis looms in construction as well.

The construction industry faces an impending labor shortage as a generation of experienced journeymen retire without a robust pipeline of new talent to take their place. Companies will be vying for workers from a shrinking pool of qualified candidates to meet project demand. Proactive steps must be taken now to recruit and train the next generation of skilled tradespeople.

nostr:nevent1qqsvh6xgmzzft4flrauqf4znm3duvww6v7j2l9gea96tf6wddc7sldcpzdmhxue69uhk7enxvd5xz6tw9ec82c30qgswcm3k6hy7hp60rk6z20hsydml0nrsd97d5s8mlvjda44469xvunqrqsqqqqqp2jmk28


nostr:npub1tq7z72r2g859ucwfmr4qne8ft6v2z38c2qlqhmq098q4qpvv5m0svhxzxp

https://image.nostr.build/446232e6d3b8c5c89360d22cef26c5ac253ce8ec83e29f0b874067ae566d0672.jpg


Some believe it is only great power that can hold evil in check, but that is not what I have found. It is the small everyday deeds of ordinary folk that keep the darkness at bay. Small acts of kindness and love.

nostr:nevent1qqs9p6j405xm8nua2mzv9ju7yprhlx8w8vvxcpr2q5d39upa5zhp8dsppemhxue69uhkummn9ekx7mp0qgsq6p28mepzm77gyyj8wfdlcasu8m73rk5c7ml0pmpacgf5v524cksrqsqqqqqpzs838m


Most Economists Are Wrong about the Economy

https://fountain.fm/episode/B6PZ7EMIbreI4VsUpgIy


Apple butter goat cheese focaccia

🍎🧈🐐🧀🍞

#bread
#bake
#food

https://image.nostr.build/1f921546a87d62ace08f1b0d066761221065b519a6bdc351b26d877d28a92472.jpg

https://image.nostr.build/732f6d4c4bc5e04db7f1c36ee3f8dc57f2c1d76d6ba283b9238cb269f8e70828.jpg


Thanks 🙏 I'm very spoiled

Please share her creations 🤙


Hey Nostr!

My wife is here to share her baking adventures with the world. Show her what nostr is about and share the love 💜

nostr:nevent1qqsqr0y036mk5a8p963cecu3jzdgtydqhjqam4p2vmgydhrvwh562jcpz3mhxue69uhhyetvv9ujuerpd46hxtnfdupzpgc3lr9z8u9chsyd6ndmqva8urg6n2mnp4uj2qfwtnhr8skjm9ysqvzqqqqqqywksu4d


Beautiful and delicious things from a new nostrich! #foodstr #bakestr #grownostr   nostr:nevent1qqsqr0y036mk5a8p963cecu3jzdgtydqhjqam4p2vmgydhrvwh562jcpzdmhxue69uhhyetvv9ukzcnvv5hx7un8v6cwl0


OMG 🫠💜

nostr:nevent1qqsqsrlg9f6ehguhwpf8lltrrl5dj4ym2fth0shm3dd0j8dseq3wf0qpp4mhxue69uhkummn9ekx7mqzyz33r7x2y0ct30qgm4xmkqe60cx34x4hxrtey5qjuh8wx0pd9k2fqqcyqqqqqqg4rt8vk


nostr:npub15vgl3j3r7zutczxafkasxwn7p5df4des67f9qyh9em3nctfdjjgquscvxg has some next level, high end baked goods going on nostr! https://i.nostrimg.com/1636c0b50ce71487eaea64cd2eaa1869ec68c443a4e4a3121f7ea30fef0fa6c2/file.jpeg


🤤 nostr:note1qx7glr4hdf6wzt4r3n3eryy6skg6p0ypmh2z5eksgmwxca0f549swuxatn


👀

nostr:npub15vgl3j3r7zutczxafkasxwn7p5df4des67f9qyh9em3nctfdjjgquscvxg


Hey #bakestr, I found a fren nostr:note1qx7glr4hdf6wzt4r3n3eryy6skg6p0ypmh2z5eksgmwxca0f549swuxatn


"Everyone carries a part of society on his shoulders; no one is relieved of his share of responsibility by others. And no one can find a safe way out for himself if society is sweeping toward destruction. Therefore, everyone, in his own interests, must thrust himself vigorously into the intellectual battle. None can stand aside with unconcern; the interest of everyone hangs on the result. Whether he chooses or not, every man is drawn into the great historical struggle, the decisive battle into which our epoch has plunged us."

"I know only too well how hopeless it seems to convince impassioned supporters of the Socialistic Idea by logical demonstration that their views are preposterous and absurd.

"I know too well that they do not want to hear, to see, or above all to think, and that they are open to no argument.

"But new generations grow up with clear eyes and open minds.

"And they will approach things from a disinterested, unprejudiced standpoint, they will weigh and examine, will think and act with forethought."

It is for them

- Ludwig von Mises


This guy needs some assistance. nostr:note1zmnsu7r2anuagh54jm5knnely498ljjqwelqnenhrmt9ycg0yy6q4gjjwe


*different or better!


Soon

https://media.tenor.com/gRW10_RyxEEAAAAM/sorry-were-open.gif


nostr:npub1hw4zdmnygyvyypgztfxn8aqqmenxtwdf3tuwrd44stjjeckpc37q6zlg0q Read_766 - Spiderchains, Proof of Stake L2 ( nostr:npub1xapjgsushef5wwn78vac6pxuaqlke9g5hqdfjlanky3uquh0nauqx0cnde )

nostr:npub1h8nk2346qezka5cpm8jjh3yl5j88pf4ly2ptu7s6uu55wcfqy0wq36rpev

https://fountain.fm/episode/jZpCYtISeZRBT46wAh3r

https://bitcoinmagazine.com/technical/spiderchains-a-proof-of-stake-second-layer

https://blog.lopp.net/an-introduction-to-spiderchain/ - nostr:npub17u5dneh8qjp43ecfxr6u5e9sjamsmxyuekrg2nlxrrk6nj9rsyrqywt4tp


Yo nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx, nostr:npub1guh5grefa7vkay4ps6udxg8lrqxg2kgr3qh9n4gduxut64nfxq0q9y6hjy,

I think our huge nostr:npub17tyke9lkgxd98ruyeul6wt3pj3s9uxzgp9hxu5tsenjmweue6sqq4y3mgl v0.7.0 release fell through the RHR software update cracks (was released just as everyone was descending on nostr:npub1theparkprcs70dcs437ke9zzwsr6u60f8flu7rg28m30438aep9sd94dha for Grassroots and the HRF event).

Six months of work. Record number of contributors. REPRODUCIBLE BUILDS!!! Incredible quality-of-life usability improvements.

So proud of this release! 🎉🔥🔥

Shout out to nostr:npub17tyke9lkgxd98ruyeul6wt3pj3s9uxzgp9hxu5tsenjmweue6sqq4y3mgl! Shout out to nostr:npub1rfd0hxdzcze6pzj29thuz34vur57wm9quje7w3edxjgusq6m47csnl7wrt! Shout out to myself 🤣!! And especially to our growing list of awesome FOSS contributors!

ps - we wrote the "Highlights" part of the release notes specifically for RHR!

nostr:note1tw508y5rlhn8lufps5agyjvpxt2z0hf4f3fpyyg7hr2hhf7n3jdsp2ne6a


Rabbit Hole Recap #272: Bear Hunting Season

nostr:npub1guh5grefa7vkay4ps6udxg8lrqxg2kgr3qh9n4gduxut64nfxq0q9y6hjy
Matt H̶e̶l̶d̶ nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx
🤙

https://fountain.fm/episode/NNF7m4sFyPBD6jxiW68T

nostr:nevent1qqs9dzat2f5jeycmxdrnxq7vgs4r2s3vemsuhvdms4s97wlwyc0z9ngpzamhxue69uhkxcfwdaexzmn8v4cxjmrv9ejx2aszypl3wacx44hq46n4483nghvllkhxwem04leyn0n90dvkxa0pemfezqcyqqqqqqgt0allt


https://image.nostr.build/fe823fdab72cb605ce397d7385bd91af4a1e0e6f58e03c067e33799a371a2416.jpg

https://mises.org/library/socialism-economic-and-sociological-analysis


https://image.nostr.build/efcdecb7c97c90b466aa66fd6050d01f5b4a66e8a6e6e8ece5e11dae365927f1.jpg

https://www.meetup.com/milwaukee-bitcoin-meetup/events/296430168/?isFirstPublish=true

nostr:npub1344hw59kuxz2vmz6mff3v23v8phzuce5ln8287x9kldu8d9lrezsx0nv23 🤙


Bitcoin Optech: Newsletter #270 Recap

https://fountain.fm/episode/HfbVOJMrDfIiFPGigjv8

nostr:nevent1qqs8q854lvalrnsnas47zl9ur5w8fjyxsjq9xm6gxhf8h09kr0fg4ycpzdmhxue69uhk7enxvd5xz6tw9ec82c30qgstmwt26vdvdtcj83mg832hwhhzzwx6p78sz83ejn2k5fe8pe5j2agrqsqqqqqp3gawj9


"Everyone carries a part of society on his shoulders; no one is relieved of his share of responsibility by others. And no one can find a safe way out for himself if society is sweeping toward destruction. Therefore, everyone, in his own interests, must thrust himself vigorously into the intellectual battle. None can stand aside with unconcern; the interest of everyone hangs on the result. Whether he chooses or not, every man is drawn into the great historical struggle, the decisive battle into which our epoch has plunged us."

nostr:note1xz268l3fudf5t8rm3sh477scuvw2mxyn448crvefpdacxr5976aqlv2fn0


Bitcoin Optech: Newsletter #269 Recap

https://fountain.fm/episode/j0JcLKVujI9VybjOtLma

nostr:nevent1qqszsscc644f45ds84u0nff0ge4tz8uf3dyrv7t6e2ddh7pp0avutdspzamhxue69uhhyetvv9ujumn0wd68ytnzv9hxgtczyz7mj6knrtr27y3uw6pu24m4acsn3ks03uq3uwv5644zwfcwdyjh2qcyqqqqqqgdrv4cy


Kids Don't Need School with Jonathan Prescott & Adriana Prescott (SLP514)

nostr:npub1r8l06leee9kjlam0slmky7h8j9zme9ca32erypgqtyu6t2gnhshs3jx5dk 🤙

https://fountain.fm/episode/GQYcYOYf3ZJupLnawXqa


The story of commodity money is a story about technological progress. Various commodity monies serve as honest and fair ledger systems up until technology reaches a point where one group gains an unequal advantage, which then forces everyone else to adapt or lose.

nostr:npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83a


nostr:npub1ta5sstxzpk7aykejp6cv8eul80m2rjfwvp3rgjw0xgjtp7s3ak5s0c96f7

https://image.nostr.build/2b5af0808240723f805d0f01fcc55b15acc63858f02e9ec5a26c1cdf21b7f5e1.jpg

https://github.com/bitcoin/bitcoin/pull/28550


"At its core, money is a ledger. Commodity money serves as a ledger governed by nature. Bank money serves as a ledger governed by nation states. Open-source money serves as a ledger governed by users. As the book explores, the evolution of technology changes the prevailing power structures and incentives surrounding money from era to era."

nostr:nevent1qqs2c5qc4fvxdw20dyqv6c9epehawv0qlul2hywcxa59cdg4hyd442gpz4mhxue69uhhyetvv9ujuer9v4a8jtnfduhsygza2jzvsjt84tpesmx4z2hcmnw4yseapyq6mwa4jgmqzxyy9qa2rcpsgqqqqqqs4074hg


Next book - Broken Money: Why Our
Financial System is Failing Us and How We Can Make it Better

By nostr:npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83a

https://image.nostr.build/80af957868ec9f61a817c81becf66ff823e7f7d1975b2816c6459f8df38fee43.jpg

Very excited to start this. Thanks for writing it Lyn 🤙


Time is running short. We face a toxic mix of high-time preference junkie politicians and central bankers who are only too willing to provide the fix. We are depleting capital and borrowing against the future. We consistently display high time preference, both as individuals and as a society. This cannot end well for our children and grandchildren.

It is past time for all of us to demand better money, not better monetary "policy." It is time for money to comport with human nature and reward the saving impulse. It is time for us to reconsider our bequest to future generations and make their lives better and more prosperous than ours.

Jeff Deist


The saver-investor initiates a "process of civilization." In generating a tendency toward a fall in the rate of time preference, he - and everyone directly or indirectly connected to him through a network of exchanges - matures from childhood to adulthood and from barbarism to civilization.

Hans Herman Hoppe


This is the perversity of our times: with inflation rates higher than savings rates, the overwhelming incentive is to spend and borrow rather than produce and save.

Bitcoiners already understand the problem. The simple economic concept of time preference explains so much: some people are more than willing to forego consumption today to reap a larger reward later-even if that "later" is beyond their lifetimes. Time preference is the only way to make sense of interest rates and their critical function in society; interest rates reflect the relative preferences of borrowers and savers. Manipulation of interest rates by central banks severs this critical mechanism, allowing bubbles to occur in the form of new credit without new saving.

Without interest rates determined by time preference, society's signals become mixed up. We all understand, axiomatically, why humans prefer something today (certain) over something in the future (uncertain). We may die unexpectedly, our financial positions could change radically due to unforeseen events, or external conditions could influence our desires. We all understand borrowing money to buy a dream home at age forty instead of paying cash at age ninety. We all understand why lenders, given the uncertainty and forbearance that goes with lending, want to be paid interest for their risk.

It is a matter of time.

Jeff Deist


Does cheap money and credit make us richer? Does more money and credit create more stuff, or better stuff? Do they make us happier and more productive? Or do these twin forces actually distort the economy, misallocate resources, and degrade us as people?

These are fundamental questions in an age of monetary hedonism. It is time we began to ask and answer them. Millions of people across the West increasingly recognize the limits of monetary policy, understanding that more money and credit in society do not magically create more goods and services. Production precedes consumption. Capital accumulation is made possible only through profit, which is generated by higher productivity, thanks to earlier capital investment. At the heart of all of it is hard work and human ingenuity. We don't get rich by legislative edict.

Jeff Deist


The essence of Austrian economics may be defined, then, as the structure of economic theorems that is arrived at through the process of praxeological deduction, that is, through logical deduction from the reality-based action axiom.

Joe Salerno


BTC148: Bitcoin and Ai w/ nostr:npub1h8nk2346qezka5cpm8jjh3yl5j88pf4ly2ptu7s6uu55wcfqy0wq36rpev

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https://fountain.fm/episode/aMGmtykwt75Wn9nXIpJE


Thanks nostr:npub1r7psmkr4zv93xnal8un6d8hvmpsn5jvhfzn3kk38rfcel6awznks7znspg 🤙

...wen zaps?


Honestly, I'd have to do some research on that 😅


We absolutely need some form of covenants for the scaling direction we have gone in to really work in the long term.

There is no way around that, either we accept the limitations of Bitcoin as it is now, or we improve it to address those limitations.

https://bitcoinmagazine.com/technical/youll-activate-the-covenants-and-youll-like-it


Liberty, in the political sense, is not an ideology which you impose on other people; it's the absence of ideology. It's what happens when you leave people alone, when civil society and marketplaces are allowed to function and flourish. It doesn't need to be imposed on anyone - it's the state which is the imposer - and of course it's the natural condition of social cooperation. Mises almost called his book Human Action, his magnum opus, Social Cooperation. He says it's the only way you can organize society peacefully. But we have no choice, all of us here today, but to recognize that millions of Americans, millions upon millions of Americans - maybe a majority of Americans - simply don't see the world the way we do. That's a fact. So, the goal of this national psychosis, which they produce and impose on us every four years, is of course demoralization, more than anything. Don't let that happen.

Jeff Deist


"Rome's collapse meant staggering loss. People forgot how to read, how to farm, how to govern themselves, how to build houses, how to trade, and even what it had once meant to be a human being." - Rod Dreher

Has the world fallen so far into reflexive statism that we have forgotten how to be free? Are we living, like Dreher says, on the edge of a new dark age? Or is a revolution, a radically decentralized Hoppean "bottom up" revolution brewing? Is the pushback we see all around the world-against central states and their cobbled together borders, against political elites, against the UN and the IMF, against the euro, against taxpayer bailouts, against cronyism, against PC, against manufactured migration, and against drug laws, a last gasp? Or the sign of worldwide movement toward political decentralization?

Finally, let us remember that every society worth having, every advanced liberal society, was built by people with long time horizons. Horizons beyond their own lives. And generally those societies were built under very difficult circumstances and conditions of material hardship far beyond what we're likely to face. So let's appeal to our better natures and turn "What Must be Done" from a question into a declaration.

Jeff Deist


CONCEIVED IN LIBERTY with nostr:npub15dqlghlewk84wz3pkqqvzl2w2w36f97g89ljds8x6c094nlu02vqjllm5m & Patrick Newman on Murray Rothbard

nostr:npub1gdu7w6l6w65qhrdeaf6eyywepwe7v7ezqtugsrxy7hl7ypjsvxksd76nak 🤙

Part I

https://fountain.fm/episode/fcyY7D13OhUoFja4o9Cg

Part II

https://fountain.fm/episode/0kUAJp9K4kf4HXOvmIwB


Just as a man can evade reality and act on the blind whim of any given moment, but can achieve nothing save progressive self-destruction—so a society can evade reality and establish a system ruled by the blind whims of its members or its leader, by the majority gang of any given moment, by the current demagogue or by a permanent dictator. But such a society can achieve nothing save the rule of brute force and a state of progressive self-destruction.

Ayn Rand


Nuance and Other Stuff Transmitted by Relay


NEW: HRF gifts ~19 BTC ($505,000) via its Bitcoin Development Fund to support 15 projects worldwide 🌍

Targeting:

🎁 Global education
🎁 Bitcoin Core
🎁 DLCs on lightning
🎁 E-cash
🎁 Scholarships

You can learn more in this exclusive from Bitcoin Magazine: https://bitcoinmagazine.com/business/human-rights-foundation-donates-over-500000-to-15-global-bitcoin-projects

Grant #1: $50,000 to Furszy for his work on Bitcoin Core, where he is a top 10 contributor.

Funding will support his essential contributions to enhancing Bitcoin Core’s software stability, performance and security by reviewing PRs, and fixing bugs 🚀

https://github.com/furszy

Grant #2: $50,000 to summer of bitcoin to support their incredible summer fellowship program
The 2023 program featured more than 10,000 applicants from more than 70 countries

Grant #3: $50,000 to Jarol for his work on Bitcoin Core
Jarol will use funding to review PRs and fix bugs in Bitcoin Core; expand developer education; improve the Bitcoin Core App; and help bring full nodes to mobile phones

Grant #4: $50,000 to Vinteum for their work on expanding open source Bitcoin work in Latin America and Brazil.

Funding will support Bitcoin Core developers, foster Bitcoin communities, and build a Bitcoin Core developer pipeline education program in Latin America.

Grant #5: $50,000 to Gee Deer for his work on lightning native stablecoins and Bitcoin Core.
Gee’s proposed stablecoin will use Discreet Log Contracts to reduce counterparty risk and maximize decentralization ⚡
https://github.com/D33r-Gee

 Grant #6: $50,000 to the Kawaakibi Foundation to build a MENA Bitcoin Hub.

The MENA Bitcoin HUB will educate activists, journalists, and nonprofits on using Bitcoin to transact freely and receive international donations and hold their money securely and privately.

Grant #7: $50,000 to Justin Moeller for his work on Fedimint
Justin will focus on implementing a database migration mechanism to allow guardians to upgrade their Fedimint servers seamlessly.

Grant #8: $25,000 to D++ for her international educational initiatives and work on FOSS projects.

D++ will use funds to do international education, running a free Bitcoin bootcamp, and maintenance of Bitcoin Core and FOSS Projects.

Grant #9: $25,000 to Bitcoin Ekasi for their efforts to build a circular Bitcoin economy in South Africa.

Funds will support the onboarding of new local businesses to Bitcoin and the operation of a center to teach practical skills and Bitcoin knowledge to the local community 🇿🇦

Grant #10: $25,000 to Amiti for her work on Bitcoin mentorship, ADDRMAN, and Bitcoin Bytes.
Funds will support Amiti as she mentors Bitcoin Core contributors, improves ADDRMAN to increase the security and privacy of Bitcoin nodes, and builds Bitcoin Bytes.

Grant #11: $25,000 to Ben Perrin for international Bitcoin education.

Funding will allow Ben to create educational materials and conduct in-person and virtual workshops to teach dissidents and NGOs how to use Bitcoin safely and securely 🔏

Grant #12: $25,000 to La Librería de Satoshi to make technical education accessible to as many Spanish-speakers as possible.

Funding will be used to create Bitcoin and lightning courses, enabling Spanish developers to become Bitcoin Core Contributors.

Grant #13: $10,000 in travel grants to TabConf, a technical Bitcoin conference that took place in Atlanta, Georgia on September 6-9.

Grant #14: $10,000 in travel grants to Satsconf, the largest Bitcoin conference in Brazil taking place in Sao Paulo, Brazil from November 2-5 🇧🇷

Grant #15: $10,000 in travel grants to btc plus plus, a Bitcoin developer conference focused on Nix and software reproducibility taking place in Berlin, Germany from October 6-7 🇩🇪

HRF is proud to support a diverse range of projects to make Bitcoin a better global tool for human rights.
Since early 2020 we’ve supported more than 95 projects globally with more than $3.2M in USD and BTC gifts.

Submit proposals at dev dot fund @ hrf dot org
Donate and learn more at https://hrf.org/devfund


Creating real value for others is the foundation for society and individual prosperity.

nostr:nevent1qqsylqmgs8837egsdxd6ng6snlgl9qzhhegcd26e6pljgumsqkmfytspzpmhxue69uhkummnw3ezuamfdejsygrwg6zz9hahfftnsup23q3mnv5pdz46hpj4l2ktdpfu6rhpthhwjvpsgqqqye9qx9ygug


#Chicago #Bitdevs 12 October 🤙
https://meetu.ps/e/M8LS2/NyGyt/i https://image.nostr.build/5348a7e5dce7c51c76e2f2cc05714ad266e1676bf68e025afa75c88e15eec624.jpg


Never stop reflecting.
Never stop learning.
This is the Way.


Know Thyself


But if once public opinion is convinced that the increase in the quantity of money will continue and never come to an end, and that consequently the prices of all commodities and services will not cease to rise, everybody becomes eager to buy as much as possible and to restrict his cash holding to a minimum size. For under these circumstances the regular costs incurred by holding cash are increased by the losses caused by the progressive fall in purchasing power. The advantages of holding cash must be paid for by sacrifices which are deemed unreasonably burdensome.

This phenomenon was, in the great European inflations of the '20s, called flight into real goods (Flucht in die Sachwerte) or crack-up boom (Katastrophenhausse). The mathematical economists are at a loss to comprehend the causal relation between the increase in the quantity of money and what they call "velocity of circulation."

The characteristic mark of the phenomenon is that the increase in the quantity of money causes a fall in the demand for money. The tendency toward a fall in purchasing power as generated by the increased supply of money is intensified by the general propensity to restrict cash holdings which it brings about. Eventually a point is reached where the prices at which people would be prepared to part with "real" goods discount to such an extent the expected progress in the fall of purchasing power that nobody has a sufficient amount of cash at hand to pay them.

The monetary system breaks down; all transactions in the money concerned cease; a panic makes its purchasing power vanish altogether. People return either to barter or to the use of another kind of money.

Mises


nostr:npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l

https://image.nostr.build/4a3f106dc9d7c054552836de313d3d5f957279d03fea76ef467371bba9dd9856.jpg


"Even if you are able to make a living and put yourself in a position to comfortably survive higher price inflation, no amount of money you make will force those who don't receive dignity from their work into the job market. And you will notice a decay in your quality of life as a result."

nostr:nevent1qqs9av64rkh9x5pgc9ryudy909xat8r28emnzjrlqdhyuauytdt5jwspzdmhxue69uhhyetvv9ukzcnvv5hx7un8qgsywt6ypu57lxtwj2scdwxnyrl3sry9typcstje65x7rw9a2e5nq8srqsqqqqqp6hm02u


The next generation of Bitcoin Lightning wallets is here with Phoenix from ACINQ. Rejoining me is CTO of ACINQ, Bastien Teinturier to talk about how the team is innovating a great self custodial experience for bitcoin and lightning users:

High Fee environment
New Phoenix fee structure
Splicing and what it enables
Dual Funding
Liquidity Ads
Building on a smartphone app
Can ACINQ steal from users?
APO
Biggest challenges
Reasons to be optimistic

https://stephanlivera.com/episode/513/


Base58⛓🔓 is excited to announce that we're taking the next step in scaling the World Famous Bitcoin LARP!

We're raising money to build 50 LARP sets that we can distribute to communities and meetups and educators around the world at no cost to them!

🚀

https://geyser.fund/project/base58sworldfamousbitcoinlarp


New Rip dropping today w/ nostr:npub1rtlqca8r6auyaw5n5h3l5422dm4sry5dzfee4696fqe8s6qgudks7djtfs

Wisdom for Surviving Bear Markets

✅Fear
✅Greed
✅Prodigiously Reproducing
✅Drivechains
✅#Bitcoin Vulnerabilities

Listen here👇
https://fountain.fm/episode/y2EBdS2qGQuRk32mXth3 https://image.nostr.build/753086cfb51df83b49a64dd23765123e0b0f1a2835c4d5751ce9fd775d5c9f23.jpg


nostr:npub1hw4zdmnygyvyypgztfxn8aqqmenxtwdf3tuwrd44stjjeckpc37q6zlg0q Read_765 - "Hoarding" is a Keynesian Slur ( nostr:npub1guh5grefa7vkay4ps6udxg8lrqxg2kgr3qh9n4gduxut64nfxq0q9y6hjy )

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https://fountain.fm/episode/L72P6GtWwpKBd9pJMW11


Realize that those in power will do pretty much anything they think will work to stay in power. The only thing stopping them is the probability of success. And if they've duped a significant percentage of the population, their probability goes up and their tactics become proportionately immoral.


The Tom Woods Show Ep. 2392 Alex Epstein: Don't Declare a "Climate Emergency"

https://fountain.fm/episode/PTSlkskk0ItMDk4ryZl9


True progress demands skepticism, critical analysis, and debunking of the many myths cloaking the state. Only through emancipation from falsehood can the politics of sociopathic domination be displaced by voluntary civil cooperation grounded in the advanced economics of free choice and sound money.

nostr:nevent1qqswszgq33vu0zea4hzve0rj4qrtckfzhtcafs78gvnrmte7z0v76lcpzamhxue69uhhyetvv9ujumn0wd68ytnzv9hxgtczypjpl56q5a3rjfs0k2n0g8pnknnf00jxwq3plv50zkvgj678wlz0uqcyqqqqqqgpd2s4c

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Intolerance of free speech is a dangerous thing. Intolerance in the name of virtue is a dangerous thing. Political correctness is dangerous... Society has become much more intolerant, much more exclusive, much less open, much less pursuing the truth.

nostr:nevent1qqsf0e2lzwzvw3qyj0gus2kzguc2usmy6e9m3rfty8yvxgqn3vag73gpz4mhxue69uhhyetvv9ujuer9v4a8jtnfduhsygrwg6zz9hahfftnsup23q3mnv5pdz46hpj4l2ktdpfu6rhpthhwjvpsgqqqqqqsuftgsz


Children are the best thing ever.


👀

You have wheels now?
Now you can come up to Wisconsin.


Chinese Lantern Festival

https://image.nostr.build/a9cebfc7c169d0aaf555d3c1bbd42088e931dcc85771bfef5d219c7f4c667f92.jpg

https://image.nostr.build/a97ef9ac4aa1cfbb56285a63d0f41f048bbee5f0f5d4eea2246eca22c1c11fe7.jpg

https://image.nostr.build/ca503b3a83943e00a7855cd269d79ae8ba1b542cf091d4beef7acc29c1e0d944.jpg

https://image.nostr.build/443e7563a40a4dc2fcd4f63e3e5756ac7455186d9b66c743c7924cb1f9d37e23.jpg

https://image.nostr.build/f30e2faf83d81cc1d4ac7dc76451fd88c891778d1e1a4ef26d0e363ed16504a8.jpg

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https://image.nostr.build/7e4aaeabb80b282fa1b0f61cd518ccc338af9ceb49e29432163878c389e67aa2.jpg


https://image.nostr.build/53c8d6ab279986ed04fa31e1ee53a441a58e9237ce37b73ecabcf6d457a943d4.jpg

https://image.nostr.build/1a19b83a462d0bcefed85a2df6d8275166f96c8fd2e3bc43a54c54ddfd80c539.jpg


There is a subtle but crucial difference between self-sufficiency and self-responsibility.

Being responsible for one’s own happiness, well-being, and material confort,  however you define it, does *not* imply that you must be some “rugged individualist” who provides everything for themselves, yet that is a stereotype that is often invoked when discussing voluntaryism.

You of course can, if you want, but more practical is developing strong, positive, voluntary relationships with your family, neighbors, and chosen others so you can coordinate and collaborate to produce more abundance than you could alone.

You’re still responsible for your own way in life, but you can usually do better by specialization and division of labor than you can on your own.


Any recommendations closer to Ottawa?


Where is the best poutine in 🇨🇦 ?


Much progress has been made over the last five years, but we're still in the early days of the lightning network. nostr:npub185h9z5yxn8uc7retm0n6gkm88358lejzparxms5kmy9epr236k2qcswrdp joins the show to highlight what works and what we need to improve to ensure bitcoin and lightning scale.

https://tftc.io/tftc-podcast/446-the-state-of-the-lightning-network-with-matt-corallo/


#271 Tick Tock Next Block

https://fountain.fm/episode/DsYMi5R6G8HpvLQRDjOv

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It's a meticulous process.

PoW 😁


 Layers, Payments, and Relays with nostr:npub1utx00neqgqln72j22kej3ux7803c2k986henvvha4thuwfkper4s7r50e8

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https://fountain.fm/episode/vFm1GLEARRbWitV5cWPP


Thanks for sharing. Would love to hear all about it🙏

You hit the nail on head though. I think the change you're describing is unfortunately a byproduct of broader adoption. New network participates enter the network and adopt it with different values than the original cypherpunk origins. Consensus naturally shifts and steers the project away from the philosophical underpinnings that were the impetus of the origin.

Sadly I think that most people really don't want a separation of money and State, but rather an adoption of Bitcoin by the State.


It's by far my favorite thing she bakes each year 😁


Johnathan, are you speaking about the change in the development community specifically or the larger Bitcoin community more generally?


Some food for thought:

https://mises.org/library/intra-firm-coordination-through-rule-following-and-emergence-hierarchy


Thanks for sharing your insights James. I definitely don't think it's boring. 🙏

I'm interested in doing more research into how hierarchy, as a coordination mechanism, naturally arises from decentralized / spontaneous order systems. Bitcoin as a project is indeed an experiment in how hierarchy emerges spontaneously absent a clearly defined leadership structure. Do you think there should be more effort within the community to promote spontaneous hierarchy instead of dismissing it as destructive centralization?

You mentioned competing implementations and I wonder if we could ever see private implementations competing with one another if the project ever gains substantial global adoption. 🤔

Thanks again ✌


It's that time of year when my wife bakes peanut butter apple pie 🤤

https://image.nostr.build/be1e6987abe00becbaf28d17bbd093a0caabae2bc5726fcd728751bbd58b219c.jpg

https://image.nostr.build/79b042e302b0eeeee9d1e04de1b036757a8700272003005fea84cb367435ac59.jpg


It's important that the tech we build supports Bitcoin's core values: self-sovereignty through the preservation of anonymity, accessibility, and decentralization. Together, these values build us a system where trustless financial transactions without intermediaries are a tangible reality for all, not an imagined ideal.

nostr:nevent1qqswkjhz8ua70gwlm5wh7fxxsskcdsc8dfk0uu9emclsuslx0ya5v7qpz4mhxue69uhhyetvv9ujuer9v4a8jtnfduhsygrcwvu82l7zt4jumy5njn27wufu7smr36xjt85deaw88wp5awz37gpsgqqqqqqsn5astr


Either humans deal with one another voluntarily, through civil society and markets, or they deal with each other using compulsion, through crime or government. Economic means or political means, the age old choice remains the same.


There is a deeper and more satisfying reason for us to be optimistic. The state is not only fiscally unsustainable, it's intellectually unsustainable as well. We should be optimistic because we're living at the beginning of what Hans- Hermann Hoppe calls a "bottom-up" revolution. Bottom-up because it starts at the individual and hyper-local level. Bottom-up because it relies on radical decentralization and political secession. Bottom-up because it bypasses politics and traditional power structures. Bottom-up because it bypasses state schools, state intellectuals, and state media.

Governments, and the political classes who run them, are facing a nonviolent revolution of ideas that was scarcely imaginable just twenty years ago. And this revolution will strike at the heart of these states' only true asset: their legitimacy in the eyes of those they would govern. The bottom-up revolution is based on informed individuals who increasingly don't need elites, political, academic, or scientific, to run their lives. It is based on the recognition that national and global governance schemes have failed to solve, or even address, huge structural problems like hunger, medical care, energy, and economic development. It is based on radical decentralization, political and otherwise, because the vast diversity of individual interests demands an end to top-down government edicts and bullying by 51 percent of the electorate.

This can happen - and is happening - without even a tacit acceptance or understanding of liberty among the majority of people necessarily. They simply see with their own eyes that the state doesn't work, so naturally they seek another way.

Jeff Deist


If you believe the state is harmful rather than benevolent; if you believe that the state threatens individual rights and property rights, rather than protects them; if you believe that the state decreases our chances for peace and prosperity; if you believe, in sum, that the state is an overwhelming force for ill in our society, a force that makes all of us far worse off, why in the world is it unrealistic to work toward its elimination?

Notice that the charge of being unrealistic, impractical, or overly idealistic is never applied to medicine or crime prevention. Nobody says to the cancer researcher, "you should be more realistic, cancer and infectious disease will always exist. Why not just work on making the common cold a bit less severe?" Nobody says to the criminal investigator, "gee, organized crime and violence are just part of human nature, it's useless to try to prevent them. Maybe you should just focus on reducing bike thefts."

So why should we be apologetic or timid or less than fully optimistic in our fight against the state? We should not. Like the cancer researcher, like the crime fighter, we should be bold, we should be optimistic, and we should be vigorous in our opposition to government.

Jeff Deist


True Utopians are the central planners who believe they can overcome human nature and steer human actors like cattle. To quote Murray Rothbard: "The man who puts all the guns and all the decision making power into the hands of the central government and then says, 'Limit yourself'; it is he who is truly the impractical utopian." In Rothbard's eyes a libertarian world would be better, not perfect. So while our revolution is indeed intellectual, it is also optimistic and pragmatic. We should talk about liberty in terms of first principles, and how those principles make for a better society precisely because they accord with the innate human desire for liberty. Let the statists explain their grand schemes, while we offer a realistic vision of a world organized around civil society and markets.

Jeff Deist


Liberty is the only manner of organizing society that is compatible with human nature and human action.


At some point, Americans of all ideological stripes have to ask themselves a question: if one really believes 30 or 40 or 50 percent of the population is beyond redemption, utterly immoral, stupid, fascist, racist, or communist, what should be done? Should they be killed? Deported? Herded into camps? Re-educated against their will until they vote correctly? Forced into low-caste status, politically, socially, and economically? Tolerated, but punished in future elections?

Or should we listen to Mises, and elevate political separation, federalism, and localism to the highest political principles?

Top-down rule from DC isn't working, and in fact it's making people miserable and ready to think unthinkable thoughts about civil war. And for what? Miniscule policy differences between two parties that will never lift a finger against war, state power, entitlements, or the Fed?

It takes 70 million votes to control the White House, and the (deep) administrative state may be beyond the reach of even an overwhelming political majority. No matter where you sit ideologically, the risk of becoming a marginalized political minority grows as state power grows. It is time to stop trying to capture DC and start talking about realistic breakaway or federalist solutions, even under the umbrella of an ongoing federal state. The upcoming election won't settle our problems, but only make them worse. At least 50 or 60 million Americans, a group far larger than most countries, will be politically disenfranchised and ruled by a perceived hostile government no matter what candidates or parties prevail.

If breaking up seems unthinkable, so does civil war. Is it written in stone that 330 million people must live under one far-flung federal jurisdiction, no matter what, forever?

Jeff Deist


Democracy, far from yielding compromise and harmony, pits Americans against each other while creating a permanent bureaucratic class. All of this is understandable and predictable from a libertarian perspective. Only libertarians make the consistent case against democratic mechanisms, and consider freedom from state power as far more important than majority consensus. Freedom isn't up for a vote, as the hopeful saying goes. Liberty - properly understood as nothing more and nothing less than freedom from the state - is the highest political end.

Jeff Deist


nostr:npub1rexyltl8ke389qlxqc0707rz77fuuqzdsdd69vlzneaz2p9vnkaq4l6u3c
https://image.nostr.build/47abc32935320cc13537e9cfe29722cc937df59993dee6159c743bee331f869e.jpg


Honestly curious to understand more from your perspective. Care to elaborate at all?


BTC147: Fiat Ruins Everything w/ Bitcoin Developer nostr:npub10vlhsqm4qar0g42p8g3plqyktmktd8hnprew45w638xzezgja95qapsp42

nostr:npub1s5yq6wadwrxde4lhfs56gn64hwzuhnfa6r9mj476r5s4hkunzgzqrs6q7z 🤙

https://fountain.fm/episode/fwo17Zp0KiAlCjGDu6GY


How we reflect creates who we are.


v3 Transactions and Package Relay with glozow SLP511

nostr:npub1r8l06leee9kjlam0slmky7h8j9zme9ca32erypgqtyu6t2gnhshs3jx5dk 🤙

https://fountain.fm/episode/wi3nwbbiVsM5goAv9pla


Another pod in the bag, this time with the great  nostr:npub1guh5grefa7vkay4ps6udxg8lrqxg2kgr3qh9n4gduxut64nfxq0q9y6hjy. Talking about misconceptions about the nuclear power industry and discussing how to power the world without resorting to predicting the weather.

https://fountain.fm/episode/nfyZ0giHSa91TLSpkYee


#Bitcoin discourse should be as inclusive as #BTC itself.

nostr:npub1dc84762hpnp0y4jcvjcgwt8l7sepng93j3hg63hfm80ph6kt82eqktjwqd  stops by to discuss...
⇒Why BTC is good for the planet
⇒How BTC helps the marginalized
⇒Protesting too-big-to-fail banks
⇒The Immaculate Bitcoin Orgasm

🎧 https://fountain.fm/episode/HW669C1UfxBskYD8NQRw https://image.nostr.build/fd80e3c20857d2d35befcd7d0edcb6775fe97deeec6dcd5a6e51dfaeaa72ba70.jpg


I'm sure that fiscal responsibility and austerity is right around the corner 🙄

https://image.nostr.build/29fd70dd5fce383ec59760d061db4d5add0ecc50645f2ca5bc5965ec11e55f73.jpg


Building and maintaining the cryptographic library with one of the largest bounties is a monumental achievement. Really enjoyed this conversation with some of the guys working on Libsecp.

Bitcoin Review Podcast BR050 - Libsecp Panel ft. Jonas Nick, Tim Ruffing, Lloyd Fournier, Jesse Posner & Rijndael

https://bitcoin.review/podcast/episode-50/

https://x.com/bitcoinreviewhq/status/1700238783084400776?s=46


nostr:npub17u5dneh8qjp43ecfxr6u5e9sjamsmxyuekrg2nlxrrk6nj9rsyrqywt4tp

https://image.nostr.build/1e7c02624c08e10eb9da4667be27ead1cbe26a91568b0c806b70ec5c28c2e896.jpg


nostr:npub1h8nk2346qezka5cpm8jjh3yl5j88pf4ly2ptu7s6uu55wcfqy0wq36rpev's  Take 070 - But Deflation is Bad

https://fountain.fm/episode/8DitAtTWtKnoDtQahfPK


It may not be popular, but every great society was built by people with time horizons beyond their own lifetimes.


The entrenched mindset, the default position in American politics today is for government to "do something." This is the activist view of the state - held by both Democrats and Republicans -  that no area of human activity is not the state's business.

We can blame pandering politicians for this, we can blame the cronyist patronage system, we can blame mainstream media and government schools for this - and they are all to blame. But it doesn't change the fact: most Americans are now reflexively progressive, meaning they want government to do something, rather than reflexively libertarian.

Jeff Deist


The ongoing narrative of Bitcoin remains an unfolding tale. As this groundbreaking economic innovation continues to mature, its precise trajectory remains an enigma, shaped by a multitude of unpredictable and diverse influences. While Bitcoin's decentralized structure precludes any single entity from wielding absolute control, the individuals operating nodes wield significant sway over its course. Their values, philosophies, and visions for Bitcoin's future will inevitably leave their mark on the protocols and systems they choose to embrace. What lies ahead for Bitcoin is a narrative yet to be written, and only time will reveal the direction it ultimately takes.

nostr:nevent1qqsf6ewp36xgmhlf5ujrmusdj82j74tsxel3rhry4adnqnthp8kvk4qpz4mhxue69uhhyetvv9ujuerpd46hxtnfduhsygza2jzvsjt84tpesmx4z2hcmnw4yseapyq6mwa4jgmqzxyy9qa2rcpsgqqqqqqsz53x9e


We live in a time of great opportunity and also great peril. But if we come together and work for peace, we can leave the world better than we found it.

nostr:nevent1qqs0s398myg0vvr7pz7k0zzntctm454dd0yn3z7twa9nex4emh74lvcpzdmhxue69uhk7enxvd5xz6tw9ec82c30qgs9ez06ea26rc45f4rf0cyckdxkvvhlvekeawqee29jttp0hjm5mkcrqsqqqqqpzd633t


Hey nostr:npub1tv8gmfhalwnxxquxjzeh6gtdsdz6vg7vx0s3rt7s7uuw6aujh32qn77wn2, I just zapped your note 210 sats on nostr:npub12vkcxr0luzwp8e673v29eqjhrr7p9vqq8asav85swaepclllj09sylpugg using nostr:npub1getal6ykt05fsz5nqu4uld09nfj3y3qxmv8crys4aeut53unfvlqr80nfm😁


To be honest, I don't feel qualified to speak into the current technical limitations of the existing protocol. But the economics of the blockspace seem pretty straightforward to me. Higher demand leads to higher fees. Even with second layers taking some transactions off the main chain, a hyperbitcoinized world has several orders of magnitude more demand, which increases base layer fee rate and pricing out low economic users from self custody. Anthony Towns has a great blog on this conversation as well.

Both pieces from Towns and nostr:npub1ta5sstxzpk7aykejp6cv8eul80m2rjfwvp3rgjw0xgjtp7s3ak5s0c96f7 are referenced in my piece. ✌


I have not. I'll check it out 🤝 what's the TLDR?

Can you restate the second part, what you're asking?


Irrespective of one's stance on the scalability of self-custody or the inevitability of custodianship, it is paramount to ardently oppose the phenomenon of ossification for as protracted a period as possible. The paramount lesson gleaned from the crucible of the blocksize war is that the expansion of Bitcoin necessitates enhancements at its foundational level. The advent of the Lightning Network, a transformative development, would have remained a pipe dream had it not been for the vital upgrade to Segregated Witness (SegWit). This underscores a crucial correlation: the efficacy of secondary layers is inextricably tied to the efficacy of the bedrock base layer protocol. Bitcoin's evolution must persist if we aspire to achieve the scalability of self-custody and the imposition of constraints upon custodians, with a steadfast commitment to free-market incentives and the fortitude to withstand state coercion through robust censorship resistance.

nostr:nevent1qqsf6ewp36xgmhlf5ujrmusdj82j74tsxel3rhry4adnqnthp8kvk4qpzamhxue69uhkxcfwdaexzmn8v4cxjmrv9ejx2aszypw4fpxgf9n64sucdn239tudeh2jgv7sjqddhw6eydsprzzzsw4puqcyqqqqqqg3cdm66


Hey nostr:npub1tv8gmfhalwnxxquxjzeh6gtdsdz6vg7vx0s3rt7s7uuw6aujh32qn77wn2, I published this note in nostr:npub12vkcxr0luzwp8e673v29eqjhrr7p9vqq8asav85swaepclllj09sylpugg


SLP510 ls On-Chain Analytics Legit? Cointime Economics with James Check ( nostr:npub1qh5sal68c8swet6ut0w5evjmj6vnw29x3k967h7atn45unzjyeyq6ceh9r )

https://fountain.fm/episode/DfqCSSMxXQ2f49KxkfZq

nostr:npub1r8l06leee9kjlam0slmky7h8j9zme9ca32erypgqtyu6t2gnhshs3jx5dk 🤙


nostr:npub1hw4zdmnygyvyypgztfxn8aqqmenxtwdf3tuwrd44stjjeckpc37q6zlg0q : Evils of THE ALGORITHM

nostr:npub1h8nk2346qezka5cpm8jjh3yl5j88pf4ly2ptu7s6uu55wcfqy0wq36rpev 🤙

https://fountain.fm/episode/lcUGdAmT499x8klNKtuY


The thoughtful mind understands that truth is found in carefully weighing many perspectives.

nostr:nevent1qqsw7zc2pk4kw85n9sz7rk4ewnd8zt04gmyhf324h9549qvcp0eq9dgppemhxue69uhkummn9ekx7mp0qgs9k2f9t4024t44wa2jhux3zqcrwm6805v6qzw97k5qmhrn6jf4nasrqsqqqqqpd3chkn


Coming To Terms With The Economic Reality Of Scaling.

My latest piece with nostr:npub1t8a7uumfmam38kal4xaakzyjccht4y5jxfs4cmlj0p768pxtwu8skh56yu

https://bitcoinmagazine.com/technical/coming-to-terms-with-the-economic-reality-of-scaling


Do Libertarian Conspiracy Theories Violate Austrian Economics?

https://fountain.fm/episode/r8RG2Jn9jOEV6pIqmwHk


nostr:npub10uthwp4ddc9w5adfuv69m8la4enkwma07fymuetmt93htcww6wgs55xdlq  #270: A Ripple in Time

nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx
nostr:npub1guh5grefa7vkay4ps6udxg8lrqxg2kgr3qh9n4gduxut64nfxq0q9y6hjy

https://fountain.fm/episode/e3ZniCrtPbXzz8YVy279


Prices are a tool to transmit information. Price controls conceal information that free market prices would reveal. Prices under a price-control regime convey misinformation. They systematically falsify economic conditions to producers and consumers alike.

Distorted Incentives & Allocative Inefficiency are the byproduct of price controls.

When governments set price ceilings (maximum prices) on essential goods like food, it discourages producers from supplying these goods because they can't cover their production costs.

In the short term, this may lead to consumers paying lower prices, but it reduces the incentive for producers to invest in production or expand their operations.

Price controls create a situation where the quantity demanded exceeds the quantity supplied at the controlled price, leading to shortages. Consumers may scramble to buy the limited available supply, exacerbating the problem.

"There is no third system between a market economy and socialism. Mankind has to choose between those two systems" -Mises

https://image.nostr.build/08d066b0bde48d4424b931fcdc65af358d839d1f2eeceed6012f1bb8c311ebcf.jpg


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

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Bitcoin for Advisors Episode 14: Drivechains and the SEC Lost

https://fountain.fm/episode/HMPtZfKthmEn6cGitfTf

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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

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

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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

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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"

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

https://fountain.fm/episode/14846820073

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


Rabbit Hole Recap #244: Bitcoin Fixes This

https://fountain.fm/episode/14170607122

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