I’m going to update this article as journal, where I will share my thoughts and meditations.
“All truth passes through three stages.
Arthur Schopenhauer
First, it is ridiculed.
Second, it is violently opposed.
Third, it is accepted as being self-evident.”
Truth is not a theory, truth is an evolutionary process, a method.
04 March 2024
WEF Capitulated
29 February 2024
Does the rise of a non-earning asset kill productivity?
Or is it just a way to transfer ‘energy’ to productive people, allowing a frictionless exchange of ‘energy’ between them?
I mean, it’s clear that those who were early in Bitcoin understood something that others didn’t grasp. Transferring capital to them may lead to some inefficiencies among the masses, but I wouldn’t call it unproductive; rather, it’s a wealth transfer
19 February 2024
I run a full node and lightning node on an old ThinkPad.
Mining is the process of converting physical energy into digital; anywhere there is untapped energy, it’s possible to be part of the network.
It is a means to keep in check every government, given the fact that every government has an interest in giving housing to wealthy, techno-savvy individuals willing to pay for a home which gives house to them and their Bitcoin.
Both from the supply side and the demand side, there is a game theory playing out, empowered by coded greed, which has always been the preferred way to architect social structures.
I can’t see how this can be the creation of someone; at best, it becomes a perpetual challenge to gain control over it.
It is unique and a great vehicle for transferring money to a techno-savvy generation. From a historical perspective, it has always been a trouble to redistribute financial energy when stuck in a dead end.
Bitcoin is also a protocol; it is digital and can be integrated into many digital infrastructures. It is a means to escape the fiscal trap, a Noah’s Ark for the wealthier, and an opportunity to provide financial energy to the techno-savvy of the future.
It inscribes information; it’s a ledger. You can write information in it. One of the worst things we’ve experienced as humans is the lack of reliable history ledgers. In this case, the more energy invested, the more secure the information is.
I mean, how we can value all of this, I really don’t know, but after many years, I realize that it has huge value for the civilization of the future.
10 January 2024
SEC approved Bitcoin spot ETF
15 August 2023
#Bitcoin “The Bitcoin is the natural reaction against the Central Bankers scammers and to make the money private again.”
Leading Presidential Candidate for Argentina, Javier Milei
08 August 2023
#Bitcoin Environmental, social, and governance impact.
Bitcoin’s role in the ESG imperative (kpmg.us)
8 May 2023
“it is possible that in the future, private digital currencies (e.9., Bitcoin) or CBDCs issued by foreign countries could be widely used in Canada.”
Bank of Canada
https://www.bankofcanada.ca/digitaldollar/
23 Apr 2023
WEF on “mining data centers” aka Bitcoin rigs
12 Mar 2023
Reading “Atlas Shrugged”, 1957 novel by Ayn Rand.
“When you accept money in payment for your effort, you do so only on the conviction that you will exchange it for the product of the effort of others. It is not the moochers or the looters who give value to money. Not an ocean of tears not all the guns in the world can transform those pieces of paper in your wallet into the bread you will need to survive tomorrow. Those pieces of paper, which should have been gold, are a token of honor your claim upon the energy of the men who produce. Your wallet is your statement of hope that somewhere in the world around you there are men who will not default on that moral principle which is the root of money“
Francisco D’Anconia
“The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.”
Bitcoin genesis block, Satoshi Nakamoto
12 Mar 2023
On December 4, 1921, Henry Ford proposed the concept of using energy as a form of hard money during an interview with the New York Times. Ford believed that currency should be based on a tangible asset that could not be easily manipulated, such as energy.
11 Mar 2023
19 Feb 2023
https://app.truflation.com/
I have no idea what will happen in the short term, but I am quite sure that deflationary forces will increase over the long run. This is probably obvious to everyone, but I imagine that governments will exploit the situation by injecting more liquidity into the system, which will balance out the deflation. The question is where this money will end up. This is mainly because there are fewer and fewer opportunities to preserve profit margins (moaty biz are rare beasts and they become more and more uncommon), and that is my main thesis behind Bitcoin as a sponge that can absorb excess liquidity.
17 Feb 2023
Charlie Munger Criticisms vs Michael Saylor reasoning
13 Feb 2023
What fascinates me the most is the idea of exploiting unused resources to bring wealth. This is a huge economic incentive.
In the United States, discovery and exploitation of unused resources, particularly oil, brought wealth to many communities in the past.
The rush to tap into these resources led to an influx of investment and development, which resulted in economic growth and prosperity.
12 Feb 2023
Montana (US) committee passes bill protecting the right to mine Bitcoin.
11 Feb 2023
An extract from a discussion on COBF (Corner of Berkshire and Fairfax), a gathering place for many value investors.
User: “I also think a lot of people who don’t like BTC (including myself to a degree) get hung up because their view is primarily US based. My brother in law who has a company is Laos uses BTC pretty frequently because the govt over there could at any point in time take his business. So it’s a means of protecting some assets.“
24 Jan 2023
Interesting news from El Salvador provides us with an opportunity to reflect on the narratives the media is trying to push, as well as the interest in preserving the credibility and power of institutions by manipulating the feeds.
23 Dec 2022
“I wouldn’t call that an investment. I would call it a speculation, but I would call it a sound speculation.”
“I would expect that if and when the Federal Reserve begins to pivot [toward easier monetary policy], Bitcoin would do quite well.”
Bill Miller 22 dec 2022 Barron’s interview
“Is bitcoin a speculation?
Yes, it is, but why?
Because cryptocurrencies don’t generate Cash Flow.
Is speculation a bad thing?
It depends. In this term, even gold is speculation. However, I see a rationale behind cryptocurrencies, and I will explain my point of view.”
davesoma.eth 4 mar 2021 dscompounding.com article
16 Dec 2022:
Bitcoin is a channel through which the old order finances the new order.
If there is growth, then there are deflationary forces that compensate for the abundant liquidity, but this can only happen if there is both liquidity and knowledge. Injecting liquidity into the system without new ideas to optimize it is like trying to revive a 100-year-old man by injecting liters of adrenaline into his veins – it won’t work because the patient is already dead.
The more liquidity that is put into the system, the more likely it is to find its way into Bitcoin as a buffer. Unlike gold, which is a static asset, Bitcoin is a technology tool that continues to improve and find new ways to express itself. For example, it provides resources to unbanked populations, allowing them to finance their knowledge and develop themselves. Bitcoin also enables these populations to exploit renewable resources as miners, which brings them more resources to further develop themselves.
Every time central banks inject money into the system, they are financing their substitute, creating a spillover effect. When interest rates increase, it’s like cutting the supply during a war. If Bitcoin can resist better than society itself, it will thrive, but a period of volatility is the fragility shock that an antifragile system must weather.
The big problem with Bitcoin is defining its value. It’s relatively easy to do this for an earning asset, but almost impossible for Bitcoin. Company buybacks and dividends give a floor, which is why I still invest in the stock market.
In order to thrive, I have to survive
#Bitcoin and #energy https://t.co/6DMvSuFABe
— davesoma (@dscompounding) December 15, 2022
01 Dec 2022:
Bold statements by the ECB, maybe they will win the battle against Bitcoin Network but, looking to the comments, they already lost the war to conquer the Minds Network.
Minds Networks define narratives since the beginning of human history.
“But it is the Network — the internet, the social network, and now the crypto network — that is the next Leviathan.”
Balaji Srinivasan, The Network State
4 Mar 2021:
First written meditations on the topic Article. Cryptocurrencies
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