Dave86ch

My opinion is that western countries are in a similar situation as the shrinking Byzantine Empire, their devalued their currency as the Empire did and they are under many sieges. Now in between the empire there a new monetary forms which challanges a Solidus which less and less denominated by a unit of energy or work and more and more by illusions and lies. The social welfare systems of many countries are under pressure, and these countries are in a fiscal trap, which now presents an opportunity for individuals to escape.

He is a great communicator, but I have always been fascinated by his deep understanding of Bitcoin and its implications. Sometimes he repeats the same mantra, but if you really study the matter, you realize how true his words are.

Satoshi showed that a group of motivated, tech-savvy people is enough to destroy a system from the inside.

Exactly @Spekulatius

The Trojan Horse is inside the walls. Quoting balaji's latest newletter. "Let that sink in! This is what the US establishment truly fears: not Bitcoin as "fraud", but Bitcoin as freedom. They want to rule not just you but the world, so they're scared of the prospect of "a global free-for-all..beyond the reach of US regulation". And they know that any spot ETF will bid up the price of self-custodied Bitcoin outside their control, as Satoshi intended. So: since FDR's seizure of gold, our lives have revolved around the centralized state rather than the decentralized market. The state has had control for so long we've forgotten what freedom is like. But now gold is slipping out of their hands, and back into yours. And history is running in reverse." Balaji Srinivasan Bitcoin has no board of directors where you can place your pawns. It represents the conversion of energy into a global asset. Whoever owns the key still possesses it, along with the opportunity to move their wealth wherever it is accepted in the world, and under the best conditions. ETFs merely provide a foundation for the wealth of sovereign individuals. It will bring the liquidity required by wealthy and tech-savvy individuals to escape the fiscal trap. The Volga will purchase the assets managed by banks that will manipulate the price, and on the other side, the God-Kings will continue to tax the harvest of the middle class as usual, selling them the dream of protection and social welfare, the counterpart of the Christian Paradise. History just rhymes. The trojan horse is inside the walls.

META, BABA, BRK, Bitcoin Other positions

The trojan horse is inside the walls.

It declined on the news that it was false. By the way, there is a non-zero chance that Elon took his revenge. For the Tor, everything is possible, but we are talking about global peer-to-peer technologies. You can cut some heads and control some of them, but other heads will pop up. I wrote my first article on Bitcoin years ago, where I was critical in a sense, but I got many points and Bitcoin was at 13k USD. I've changed my mind over time on many things, now my thesis is way more solid and articulate. https://dscompounding.com/2021/03/04/cryptocurrencies/

Ahahah same here Eric

I personally run a Lightning node on an old ThinkPad. I can go to the McDonald's in my city and pay completely anonymously through my personal node using the Tor network.

I never fully grasped the concept of fees, which is due to my lack of understanding. I understand the idea of converting energy into digital property, thereby transforming cyberspace, or at least a portion of it, into a thermodynamically sound environment. However, I'm trying to comprehend how things will change when all the 'bricks' have been mined. Perhaps that's exactly the point of Gabriel's Horn, a realization I've just had. The bricks are limited, but the energy involved remains infinite.

What about the end of mining and its direct connection to energy and digital receipts? The idea of Gabriel's Horn seems to revolve around the notion of a link between infinite energy and finite cyberspace real estate. At some point, mining will stop, likely because the smallest unit, currently indivisible, is 1 satoshi (2140). How will this theory evolve when this tie breaks?

Same feeling, market become more and more emotional instead of rational.

I bought some more Sats as a Christmas gift for myself.

Same

RIP Charlie. “Spend each day trying to be a little wiser than you were when you woke up. Discharge your duties faithfully and well. Slug it out one inch at a time, day by day.”

Bitcoin is a technology, not a company. It generates value but not necessarily cash flow. Does the Internet lack value just because the protocol itself doesn't generate cash flow? Owning Bitcoin is akin to owning a piece of the base layer of an infrastructure that converts energy into scarcity, paving the way for a decentralized network of records. Growth in the network equates to growth in value.

15%

It will absorb the excess liquidity and deflationary forces, reintroducing a healthy market for investing, in contrast to the current state where speculation has become the only means to preserve wealth due to the Cantillon effect, which is undermining price discovery

I am referring to Lightning when I speak about payments. I run a node on Tor, completely anonymously, and I can buy coffee at McDonald's in my city with zero fees, instantaneously and anonymously.

Comparing Bitcoin to gold can be a useful exercise when trying to understand Bitcoin as an abstraction. However, it's important to realize that Bitcoin is a platform, a ledger of encapsulated truth where energy has been expended to preserve data. It's not a dead pile of minerals; it's a living infrastructure where it is possible to build global and instantaneous payment layers, preserve information and verify them, convert energy into scarcity, and harness untapped sources of energy. I mean, who cares about FTX and a dead mineral? Bitcoin is a powerful tool that creates physical bastions in an abstraction layer of reality that we, as a species, have built in a new dimension of our perceptions.

Proof of Work defines physical constraints in the digital realm, enforcing security by incentivizing the use of untapped energy sources, supporting a decentralized platform of shared and certified transactional truth. It transforms labor energy into scarce, secure, and movable wealth.

He doesn't understand the Proof of Work mechanism and its implications.

I personally run a Lightning node, and it works flawlessly: it's safe, fast, easy to set up, and anonymous. I'm working on top of the safest asset in the world. There are no intermediaries, no buildings filled with workers who only pretend to work, and no handling of bureaucracy or complex hierarchical ranks. It's just autonomous software, silicon and a 100% anti-fragile democracy incentivized to exploited untapped source of energy.