2023-02-22T15:37:42Z https://nostr.now 2minutebitcoin https://nostr.now/npub1p63d4vekvuql9zltpp4dezzfk2xxfgjsfqyglf4ju4syalekn4csn9ej3v https://pbs.twimg.com/profile_images/1612547227527815178/g4NrA0vY_400x400.jpg https://pbs.twimg.com/profile_images/1612547227527815178/g4NrA0vY_400x400.jpg https://nostr.now/nevent1qqsxzx5g96y322j7yuvxf0usxyrdm598yuaxmvye00ws8kcj43ymkwgzyq829k4nxensru5tavyx4hygfxegce9z2pyq3raxktjkqnhlx6whz9me3sa In reply to <a href='/nevent1qqstjef45y76k4fpn0u7afx90sa6kwzxnvkgc0f6uv4ta9a0llfsuesppemhxue69uhkummn9ekx7mp0qrh09t'>nevent1q…h09t</a><br/>_________________________<br/><br/>🏆 2025-05-11T21:58:13Z https://nostr.now/nevent1qqsfstgvtn96c4n7y35vjy39ylc68shpuaad6y7df54x5g50j25zqpszyq829k4nxensru5tavyx4hygfxegce9z2pyq3raxktjkqnhlx6whzmk75er In reply to <a href='/nevent1qqsqlp9hf2w7mww84uds6qwgammmpxnwmv008hwvwspu7yf0luuafycpz4mhxue69uhkummnw3ezummcw3ezuer9wchsweqf9a'>nevent1q…qf9a</a><br/>_________________________<br/><br/>do you want to talk through the different Ms? (M0, M1) 2025-05-11T21:58:07Z https://nostr.now/nevent1qqswexjux9wcf7cjrpm7ltldns8c98htfhexgg6njsl2gpv9ttuv8wszyq829k4nxensru5tavyx4hygfxegce9z2pyq3raxktjkqnhlx6whz2e8r4t Bitcoin teaches you:<br/><br/>- Game Theory ✅<br/>- First Principles ✅<br/>- Economics ✅<br/>- Simplicity ✅<br/>- Self Reliance and Independence ✅<br/>- Network Effects ✅<br/>- Human Psyche ✅<br/>- Monetary Systems ✅<br/>- Capital Markets ✅<br/><br/>Opt out of fiat education and teach your kids Bitcoin! Hopefully our project helps. 2023-09-05T08:03:50Z https://nostr.now/nevent1qqstl3qj6tx3lueqmmrjuwj4h3wmcfd6d7qknjuzxav4gr96txrtx6czyq829k4nxensru5tavyx4hygfxegce9z2pyq3raxktjkqnhlx6whz6kpc68 Bitcoin differs from other cryptocurrencies by its soul.<br/><br/>Reinventing a monetary system takes irrational zeal and an unwavering commitment to a firm vision of the future.<br/><br/>No other project is building a system to last **decades** and face the State head on.<br/><br/>Success for other cryptocurrencies is an exit. At a stark contrast, for Bitcoiners, success is the day when **no exit** is required.<br/><br/>People confused the blockchain revolution as a technological one - “if we can create the most advanced algorithm for securing a blockchain, we will win”. It was always a political revolution.<br/><br/>Going against the state requires hundreds of millions of diehards that believe in a **stable set of values** - clever cryptographic gimmicks cannot inspire and win devotion.<br/><br/>- an excerpt from the 2-minute version of A Most Peaceful revolution, originally posted at <br/><a href="https://2minutebitcoin.org/blog/bitcon-a-most-peaceful-revolution">https://2minutebitcoin.org/blog/bitcon-a-most-peaceful-revolution</a> 2023-05-15T15:29:34Z https://nostr.now/nevent1qqsvctjzknagu35myhylmv7ws26j2wsa0vxhk6w9tpv4fhjg6t5jr7qzyq829k4nxensru5tavyx4hygfxegce9z2pyq3raxktjkqnhlx6whzgfn0gs Gold is expensive to store securely. Bitcoin is not.<br/><br/>Gold is very expensive and risky to transport securely in significant amounts. Bitcoin is not.<br/><br/>Gold can be detected and confiscated. Bitcoin cannot. (so long as the seed phrase is properly secured).<br/><br/>Gold&#39;s supply is flexible. It increases when prices increase, as more miners mine. Bitcoin&#39;s is not.<br/><br/>Gold&#39;s supply is theoretically infinite. Asteroids contain gold. Bitcoin&#39;s is not.<br/><br/>Gold is subject to counterfeiting. There is a lot of gold-coated tungsten in circulation; it requires special equipment and knowledge to be able to detect it. Bitcoin is not.<br/><br/>Bitcoin can be sent over the Internet. Gold cannot. 2023-05-15T09:22:44Z https://nostr.now/nevent1qqsgs8gf624a5ugnrd3clnyt3eu9zswcav9w4fz0lw5x4puafeer8xgzyq829k4nxensru5tavyx4hygfxegce9z2pyq3raxktjkqnhlx6whz0dgp6u You can’t afford 100-story buildings in Manhattan unless you’re the center of a financial empire!<br/><br/>The skyscrapers in New York are constructed from the value extracted by financial intermediaries.<br/>As they say in Vegas - those hotels aren’t built by winning gamblers.<br/><br/>There are a lot of securities where there are only two market makers - bank A and bank B - which simply trade with each other. Two bond traders working in opposite buildings, going together for lunch/dinner/etc.<br/><br/>If you’re buying the security, you’re buying at the top of the spread.<br/>If you’re selling, you’re selling at the bottom of the spread. The spread is 2%.<br/><br/>So if you turn over $1B of bonds, you’re paying $20 Million in commissions to the banks.<br/><br/>Life is full of gatekeepers. It’s ultimately a competition for power - to be the ultimate gatekeeper - to gain the most claims on taxing an ever-greater network.<br/><br/>-- an excerpt from the Saylor Series Episode 2 - the Rise of Man through the Dark and Steel Ages, its 2-minute version can be found here <a href="https://www.2minutebitcoin.org/blog/saylor-series-episode-2-the-rise-of-man-through-the-dark-and-steel-ages-robert-breedlove">https://www.2minutebitcoin.org/blog/saylor-series-episode-2-the-rise-of-man-through-the-dark-and-steel-ages-robert-breedlove</a> 2023-05-14T10:01:24Z https://nostr.now/nevent1qqsvun7g0eyn5hly6kwfg9634jpjayt8shtktwq49zufgy2tncx387szyq829k4nxensru5tavyx4hygfxegce9z2pyq3raxktjkqnhlx6whzwlhkwq When the Fed creates $3 trillion in a matter of weeks by pushing a button, it consolidates the power to price and value human time. In the U.S., humans are not supposed to have that kind of power over other humans.<br/><br/>-- an excerpt from the Stone Ridge 2020 Shareholder Letter, its 2-minute version can be found here <a href="https://www.2minutebitcoin.org/blog/stone-ridge-2020-shareholder-letter">https://www.2minutebitcoin.org/blog/stone-ridge-2020-shareholder-letter</a> 2023-05-13T01:14:18Z https://nostr.now/nevent1qqsdfwhnw8ajwwq6xjhm6umhghludx9qx3a6kjz84kxvmpll0y8kgrszyq829k4nxensru5tavyx4hygfxegce9z2pyq3raxktjkqnhlx6whz6c3kuv Another massively underappreciated reason for why Bitcoin is volatile - it&#39;s decentralized!<br/><br/>Centralized sectors have low volatility because it takes just a handful of actors to suppress it.<br/><br/>This was literally one of the reasons Rockefeller established the oil cartel he had - the volatility would otherwise hurt the sector too much.<br/><br/>Of course the stock market won&#39;t have volatility when there is a centralized exchange that stops trading for 15 minutes if the S&amp;P drops 7% in a day (this is real, google it).<br/><br/>Of course the bond market won&#39;t have volatility when there are only a handful of big institutional players trading it.<br/><br/>Under Communism we also had no price volatility... until it collapsed.<br/><br/>We have been diluted to believe that lack of volatility is natural and a mark of health. It&#39;s the opposite. 2023-05-09T18:18:42Z https://nostr.now/nevent1qqs2g9x3xr479n8nx7ljnv394uq6gk8u9yeepfegpwy5q0hg26ufnmqzyq829k4nxensru5tavyx4hygfxegce9z2pyq3raxktjkqnhlx6whzz8smp6 The haunting memory of bank runs from the past should serve as a stark reminder that banks are not as bulletproof as they seem.<br/><br/>In 1929, the stock market crash marked the beginning of the Great Depression, leading to widespread panic and a series of devastating bank runs.<br/><br/>In just the first few months of 1933, over 5,700 banks failed, and depositors lost approximately $140 billion (in today&#39;s terms) of their savings. By the end of 1933, 11,000 had failed.<br/><br/>Fast forward to 2001, when Argentina faced a massive economic crisis. A run on banks led to the government freezing bank accounts and converting dollar-denominated accounts to pesos at a fixed rate, causing many people to lose a significant portion of their savings. In just a few months, the country witnessed a decline in GDP by 11%, and the unemployment rate skyrocketed to over 20%.<br/><br/>The threat of economic collapse and bank runs is still very real today. In a world where central banks continue to print money at an alarming rate, and financial systems teeter on the brink of collapse, the security of your savings is anything but guaranteed. 2023-05-09T02:50:51Z https://nostr.now/nevent1qqs0yllu3hur7l2u7yukkumqrrcawp6cg4a29g6krgva88fe4pv3rrczyq829k4nxensru5tavyx4hygfxegce9z2pyq3raxktjkqnhlx6whzv08x9e You may deride Bitcoin, no matter - it will be there for you when you need it.<br/><br/>You may not need it now, but as we plunge into a more despotic, financially-repressive, authoritarian, and chaotic world, you may one day feel comfort knowing that the world’s [highest assurance](<a href="https://www.2minutebitcoin.org/blog/its-the-settlement-assurances-stupid-2019">https://www.2minutebitcoin.org/blog/its-the-settlement-assurances-stupid-2019</a>) wealth protection system in history is waiting patiently for you.<br/><br/>- an excerpt from the 2-minute version of A Most Peaceful revolution, originally posted at <br/><a href="https://2minutebitcoin.org/blog/bitcon-a-most-peaceful-revolution">https://2minutebitcoin.org/blog/bitcon-a-most-peaceful-revolution</a> 2023-05-08T17:39:36Z https://nostr.now/nevent1qqspv58sdc9cuzm6tj9zqu0vzy4k7fr3620ulvzpx88qvjuga4q0m3qzyq829k4nxensru5tavyx4hygfxegce9z2pyq3raxktjkqnhlx6whztheh6j Keynesianism has conquered the hearts and minds of politicians and ordinary people alike because it provides a theoretical justification for irresponsible behavior. Medical science has established that one or two glasses of wine per day are good for your long-term health, but no doctor would recommend a recovering alcoholic to follow this prescription. Unfortunately, Keynesian economists do exactly this. They tell politicians, who are addicted to spending our money, that government expenditures are good. And they tell consumers, who are affected by severe spending problems, that consuming is good, while saving is bad. In medicine, such behavior would get you expelled from the medical profession: in economics, it gives you a job in Washington.&#39;&#34;<br/><br/>- <a href="https://www.marketsandmorality.com/index.php/mandm/article/viewFile/1254/1049">https://www.marketsandmorality.com/index.php/mandm/article/viewFile/1254/1049</a> 2023-05-06T07:18:03Z https://nostr.now/nevent1qqsqu3jw0l3urn5nsqrkmmqjyrppxjxwep97vtc3knrh66fwaj9qweqzyq829k4nxensru5tavyx4hygfxegce9z2pyq3raxktjkqnhlx6whz8v7nyz The US is blessed with limitless natural resources, giant oceans protecting them on the left and right, and friendly neighbors to the north and south. They’ve got a military that any other country would trade for theirs, a political class constrained by an ingenious system of checks and balances, and a built-in, self-correcting mechanism of free elections. <br/><br/>Almost 250 years later, it’s easy to forget how uniquely successful the American experiment has been.<br/><br/>Unsound money just isn’t American, and hyperinflation is something only “other people” sometimes have.<br/><br/>The world has experienced an astonishing 56 hyperinflations in the last ~100 years.<br/><br/>This means that every other year, in some country, somewhere “over there”, every other year, an innocent population lost their life savings, and certainly their dignity, simply because they stored it in the wrong vessel.<br/><br/>What will protect your US money from this? What will continue to keep you different?<br/><br/>- an excerpt from the Stone Ridge 2020 Shareholder Letter, its 2-minute version can be found here <a href="https://www.2minutebitcoin.org/blog/stone-ridge-2020-shareholder-letter">https://www.2minutebitcoin.org/blog/stone-ridge-2020-shareholder-letter</a> 2023-05-05T07:01:06Z https://nostr.now/nevent1qqsqvdz7classz4mlanjdzfy3vaw8qtqpyqpjn6rm67kt90wrvh28xczyq829k4nxensru5tavyx4hygfxegce9z2pyq3raxktjkqnhlx6whz5nq0ul The global financial crisis was principally caused by the fact that the financial system was leveraged approximately 150-to-1 (!!!)<br/><br/>This was only enabled due to central bank policy, which consistently prevented system-wide deleveraging over three (!) decades.<br/><br/>The solution - quantitative easing (QE) - merely caused an unsustainable credit system to metastasize over the next ten years, making future quantitative easing inevitable.<br/><br/>Therefore, the existing financial system is living on borrowed time.<br/><br/>- an excerpt from the 2-minute version of Gradually, Then Suddenly (2019) <a href="https://www.2minutebitcoin.org/blog/gradually-then-suddenly-bitcoin">https://www.2minutebitcoin.org/blog/gradually-then-suddenly-bitcoin</a> 2023-05-04T01:11:10Z https://nostr.now/nevent1qqsgu36cjat2tswecqzewe2dqvh7ejj4rvte8fldfdft6rk0j39w4eqzyq829k4nxensru5tavyx4hygfxegce9z2pyq3raxktjkqnhlx6whz8rscv3 Would we have more prosperity without central banks?<br/><br/>Let&#39;s think about it. Money is most critically a signal of the value of something - the price conveys information in real time how hard it is to obtain something. <br/>When we allow unaccountable bureaucrats to print money and cantillionaires to benefit from it, we massively distort the price signal of money.<br/><br/>In the same way a stock certificate is title to company capital, money is title to human time. People sacrifice their time for money, which enables them to trade for commensurate sacrifices from others. When prices are distorted, we are each inhumanely robbed of making fully informed personal choices with our time.<br/><br/>**First**, as discussed, this impairs the fidelity of economy-wide price signals, thereby,<br/><br/>**Second**, inefficiently draws human and capital resources into activities that cannot be lastingly maintained, thereby,<br/><br/>**Third**, drives temporary illusions of relative prosperity in certain economic segments, and despair in others, and therefore,<br/><br/>**Fourth**, leads inevitably, and repeatedly, to booms and busts.<br/><br/>Modern central banking is the cause of severe economic problems. NOT the cure!<br/><br/> <img src="https://i.imgur.com/Y7e8HPd.png"> <br/><br/>-- an excerpt from the Stone Ridge 2020 Shareholder Letter, its 2-minute version can be found here <a href="https://www.2minutebitcoin.org/blog/stone-ridge-2020-shareholder-letter">https://www.2minutebitcoin.org/blog/stone-ridge-2020-shareholder-letter</a> 2023-05-03T18:52:44Z https://nostr.now/nevent1qqswfajrn5s6gwk7kwpk0jzvlsa2fn7qr9u0qqwqsdgdhp37vryjtaczyq829k4nxensru5tavyx4hygfxegce9z2pyq3raxktjkqnhlx6whzghpxwz A traditional empire exports security - it acts as a policeman in the local area (or world), ensuring the law is followed.<br/><br/>Similarly, one of its basic functions is to honor private property rights.<br/><br/>Bitcoin&#39;s #1 value proposition is itself security too - but decentralized security.<br/><br/>It acts as an alternative and immediately outcompetes less-competent states that do not enforce property rights well.<br/><br/>-- an excerpt from the Saylor Series Episode 2 - the Rise of Man through the Dark and Steel Ages, its 2-minute version can be found here <a href="https://www.2minutebitcoin.org/blog/saylor-series-episode-2-the-rise-of-man-through-the-dark-and-steel-ages-robert-breedlove">https://www.2minutebitcoin.org/blog/saylor-series-episode-2-the-rise-of-man-through-the-dark-and-steel-ages-robert-breedlove</a> 2023-05-02T10:08:34Z https://nostr.now/nevent1qqsf5rgsnumuj74x8snr74ycmksl5g8crzzrchcrguu3v0rxsnar0aczyq829k4nxensru5tavyx4hygfxegce9z2pyq3raxktjkqnhlx6whz947u3n The skyscrapers in New York are constructed from the value extracted by financial intermediaries.<br/>As they say in Vegas - those hotels aren’t built by winning gamblers.<br/><br/>The nature of an intermediary is one that can extract perpetual profits from anyone doing business in its network.<br/>And that’s what money is - a network of trust. This is why the governments have been so keen to monopolize it - it gives them essentially unlimited power and wealth, as they possess the ability to confiscate the wealth of their citizens.<br/><br/>They extract rent - siphon value off - for the privilege of protection.<br/>That’s not necessarily a bad thing - but it becomes so once it’s a non-consensual rate - i.e, you have no bargaining power, and it’s too much.<br/><br/>-- an excerpt from the Saylor Series Episode 2 - the Rise of Man through the Dark and Steel Ages, its 2-minute version can be found here <a href="https://www.2minutebitcoin.org/blog/saylor-series-episode-2-the-rise-of-man-through-the-dark-and-steel-ages-robert-breedlove">https://www.2minutebitcoin.org/blog/saylor-series-episode-2-the-rise-of-man-through-the-dark-and-steel-ages-robert-breedlove</a> 2023-05-01T11:36:03Z https://nostr.now/nevent1qqs00cl6ehweasz7m0s3c5znd8flv48d7lnggd7hjy7efpfve6w2zxgzyq829k4nxensru5tavyx4hygfxegce9z2pyq3raxktjkqnhlx6whz2cxgc3 Oil was about kerosene and lighting → heating → automobiles.<br/><br/>Cars were its killer app. They enabled the density of a city (commute in and commute out). They even changed people’s self identity - cars today are an avatar of who we are - a status symbol.<br/><br/>Critically - Oil was not only an energy producer but also an energy storage device - it was a battery.<br/>Oil was kept in tanks as a battery. To this day it is one of the best batteries, with no leakage of charge! 2023-05-01T07:24:47Z https://nostr.now/nevent1qqs0uyunq8vfet9cyl9s28l9nxsufv746jgdnpfx0wdt3zwkux7rgngzyq829k4nxensru5tavyx4hygfxegce9z2pyq3raxktjkqnhlx6whzrw7ter Regardless of Bitcoin’s future ascent, or descent, the long-dated monetary liabilities of individual Americans are denominated in U.S. dollars.<br/><br/>Tackling their collective, fiat-based societal retirement challenge head-on leads to an interesting and important question: “what do you have to believe to be true for Bitcoin to be your vessel for savings?”<br/><br/>The answer: point to point – meaning, from today until your long-dated liabilities (e.g., your retirement spending) start coming due – and regardless of USD paper currency volatility along the way – you only have to believe one thing; that USD will depreciate relative to Bitcoin over that time period, as it has ~80% in the last two years (2018-2020) alone.<br/><br/>Remember that the most important trades are the ones we make with our future selves, that our search for eversounder money is an individual, intuition-based optimization, and that, instinctively, we know our survival depends on durably storing of our life force.<br/><br/>In this context, is it any surprise that millennials voting with their dollars, and with more distrust for traditional institutions than their forebears, have already made Bitcoin “the millennial savings account”? <br/><br/>-- an excerpt from the Stone Ridge 2020 Shareholder Letter, its 2-minute version can be found here <a href="https://www.2minutebitcoin.org/blog/stone-ridge-2020-shareholder-letter">https://www.2minutebitcoin.org/blog/stone-ridge-2020-shareholder-letter</a> 2023-04-30T17:17:15Z https://nostr.now/nevent1qqszm0w9yu86hvwv6a0qmwagdufmda2rp97r3g29k3uvqvrsyhxg70szyq829k4nxensru5tavyx4hygfxegce9z2pyq3raxktjkqnhlx6whzt8t43j few #plebchain<br/> <img src="https://i.imgflip.com/7a3y4f.jpg"> 2023-04-30T09:10:04Z https://nostr.now/nevent1qqsdymyqttcf0hqxtv55jk088asfecqjc9aymjsq58vw9w9gmx0d8mczyq829k4nxensru5tavyx4hygfxegce9z2pyq3raxktjkqnhlx6whzf0v4gx Yet people are running around everywhere in the Bitcoin world <br/>screaming “blockchain blockchain blockchain” for all kinds of non-intuitive purposes until they&#39;re buried under piles of money. I can&#39;t believe how long it&#39;s taking for people to get wise to this ruse, but I hope it won&#39;t last too much longer. - Daniel Krawisz, 2016<br/><br/>So many years later, the charade has somehow kept in tact. 2023-04-28T20:24:05Z https://nostr.now/nevent1qqsylrtf8lqyy2q7eyp5rq3d0kx46u6e86yd5wcnww3fdw9lqupj3cszyq829k4nxensru5tavyx4hygfxegce9z2pyq3raxktjkqnhlx6whzxup5a4 new podcast summary dropped 🔥<br/><br/>We summarized a community call consisting of Lebanese Bitcoiners. It&#39;s fascinating to see the local plebs in different parts of the world. We will be doing more such summaries - it really exposes the strength of Bitcoin.<br/><br/>Topics covered were:<br/>- Lebanon&#39;s Financial Crisis (ever had a currency&#39;s USD value depreciate from 1,500 -&gt; 100,000 in a day?)<br/>- History<br/>- People<br/>- Bitcoin Community<br/><br/>Learn more about the Lebanese Bitcoin community 🇱🇧<br/><a href="https://www.2minutebitcoin.org/podcasts/summaries/lebanon-bitcoin-community-global-bitcoin-fest">https://www.2minutebitcoin.org/podcasts/summaries/lebanon-bitcoin-community-global-bitcoin-fest</a> 2023-04-28T07:00:20Z https://nostr.now/nevent1qqsyhggrq05yy3e45cv038nu3mqh8fvyk7ys664fw6d3d7pj4hxnfmszyq829k4nxensru5tavyx4hygfxegce9z2pyq3raxktjkqnhlx6whz0rxk5z repost if you relate <br/> <img src="https://i.imgflip.com/7a3ys0.gif"> 2023-04-28T06:41:44Z https://nostr.now/nevent1qqsd3dqj5x8d7qmhlrkq5plqlv3xy0r35flvv6pnz0g52g2m09knnvszyq829k4nxensru5tavyx4hygfxegce9z2pyq3raxktjkqnhlx6whzpjw80z The State always grows. Participating in the democratic process only empowers it as devotees reward it through votes in exchange for entitlements.<br/><br/>Bitcoiners reject this. Understanding that the only winning move in politics is **[to not play](<a href="https://www.2minutebitcoin.org/blog/an-honest-account-of-fiat-money-2018">https://www.2minutebitcoin.org/blog/an-honest-account-of-fiat-money-2018</a> )** - they abandoned the rules with a totally independent monetary system.<br/><br/>Bitcoin challenges the State’s most treasured privilege: **the ability to finance itself through inflation and seignorage**, as well as other repressive tools a large fraction of the world lives under - **capital controls** and **local exchange rate manipulation**.<br/><br/>This predictably enraged the State-dependents.<br/>It is no coincidence that Bitcoin’s most hysterical critics overwhelmingly benefit from the state:<br/>- academics, beneficiaries of the rampant government-guaranteed student loan bubble<br/>- (ex-) politicians, who always turn their political clout into personal wealth<br/>- journalists who were disrupted by the internet and reduced to simply peddle State messaging<br/>- economists, forced to peddle Keynesian narratives for grant and tenure<br/><br/>- an excerpt from the 2-minute version of A Most Peaceful revolution, originally posted at <br/><a href="https://2minutebitcoin.org/blog/bitcon-a-most-peaceful-revolution">https://2minutebitcoin.org/blog/bitcon-a-most-peaceful-revolution</a> 2023-04-26T23:01:54Z