Nostr notes by BodhiSATtva

GM. There is resilient beauty in this world despite the cold and ...

2025-10-24T12:46:08Z

GM. There is resilient beauty in this world despite the cold and the darkness.

#photography

Did you hear the one about the fungi and the algae? They took a ...

2025-10-06T19:33:59Z

Did you hear the one about the fungi and the algae? They took a lichen to each other....

GM #dogstr ...

2025-09-24T12:44:03Z

GM #dogstr

GM. Happy Fall Y'all ...

2025-09-23T12:20:09Z

GM. Happy Fall Y'all

Nostr event nevent1qqsyakjwytgnzy4rteey3t59k9uzlyv5sjz6ashudz76ytxnfveg2gqzyr8r4jfztp6fveshsmxwv6uunxp7eqswr3kkgnwg7stv0390kal3wgnwrue

2025-09-22T13:46:39Z

GM frens ...

2025-09-19T14:02:26Z

GM frens

My wife finally got out to The Mayo Clinic to get advanced MRIs ...

2025-09-10T14:05:36Z

My wife finally got out to The Mayo Clinic to get advanced MRIs to try to determine the scope of her cancer. In the process, we found out that she has severely prolapsed intestines, AKA her small intestine has drooped down into the bottom of her abdominal cavity. A GI specialist with 20 years of experience said that it's the worst case he's ever seen. So, trying to figure out the mesothelioma is now on hold, she's on a liquid diet until she can get abdominal reconstruction surgery. The path ahead is daunting and uncertain, but at least after a year and a half of searching for answers, we finally have something that makes sense as to why she's had so much GI discomfort. If anyone out there has prayers to spare, we'll take everything we can get.

I like the optics on your sig. I currently have a Browning BAR ...

2025-09-10T11:16:05Z

In reply to nevent1q…l32x
_________________________

I like the optics on your sig. I currently have a Browning BAR semi auto 30-06 and I think that I'm going to try to trade it for a similar setup. I inherited it and thought I'd hunt with it but it's a very high power rifle and I really want a handgun.

Nostr event nevent1qqsf8dqcnpeq58xfyy34rh55krsymsvmas9ypamexet4j0pczacay0qzyr8r4jfztp6fveshsmxwv6uunxp7eqswr3kkgnwg7stv0390kal3wp54se4

2025-09-09T16:26:43Z

Financial power is always dangerous when concentrated in a few ...

2025-09-08T13:41:36Z

Financial power is always dangerous when concentrated in a few banks or governments, which is why Bitcoin’s decentralized ledger redistributes control.

Control of financial systems is more critical for governments ...

2025-09-08T13:40:40Z

Control of financial systems is more critical for governments that claim to champion freedom than for openly authoritarian regimes, which is why Bitcoin’s independence threatens them.

Where's my sats sir

2025-09-03T20:48:16Z

In reply to nevent1q…0d4w
_________________________

Where's my sats sir

This essay was inspired by @nprofile…jttu's book The ...

2025-09-01T11:52:02Z

This essay was inspired by Alekandar Svetski (nprofile…jttu)'s book The Bushido of Bitcoin and given inspiration from MartyBent (nprofile…q0jg)'s Opportunity Cost app. I wanted to dive into the etymology of some banking and law terms that have become quite opaque and misleading, with the hope of being able to contrast the past and the present through the evolution of language.

With deficits piling in the Trillions, and most unable to fathom the scale and magnitude of these numbers, I used BTC denominations alongside bailout and spending numbers to draw attention to the absurdity of fractional reserve banking and the inflationary currency crisis.

Drawing upon Austrian principles and classical Austrian texts, I shine a light on the deception inherent in modern #banking and the fraudulent scheme that has been thrust upon society under the guise of "growth" and "stability". I attempt to make the case that modern banking is both a fraud, and unconstitutional. Hope you will read it. Enjoy!

quoting
nevent1q…ul4y
I just discovered the Articles feature on Primal. Dope! No more Substack links from me on here, I'll just cross-publish.

naddr1qv…jy2a

This ends well, right?

2025-09-01T11:27:27Z

In reply to nevent1q…mr7f
_________________________

This ends well, right?

If Musk ran nostr relays on starlink satellites and spaceX ...

2025-08-31T13:06:17Z

If Musk ran nostr relays on starlink satellites and spaceX rockets it could disrupt telecom cartels and radically reshape free speech on Earth and potentially to moon or mars colonies.

Imagine high speed nostr native global satellite phones.

Am I being naive or could this be awesome?

I just discovered the Articles feature on Primal. Dope! No more ...

2025-08-30T04:25:59Z

I just discovered the Articles feature on Primal. Dope! No more Substack links from me on here, I'll just cross-publish.

quoting
naddr1qv…jy2a

I. Introduction

Language serves as a powerful instrument in shaping human perception, particularly within the realms of banking and law. Terms such as "money," "lending," and "debt" evoke notions of trust, security, and equity, yet they systematically obscure the fraudulent and unconstitutional mechanics of fractional reserve banking. This system, which permits private banks to create money as debt without sufficient reserves—or often any reserves at all—binds individuals to perpetual cycles of indebtedness. From first principles, money should function as a stable medium of exchange and store of value, grounded in real wealth like commodities, not fabricated through bookkeeping entries that dilute existing currency. Austrian economic theory, emphasizing sound money and voluntary market interactions, views fractional reserve banking as inherently fraudulent, akin to counterfeiting, as it expands the money supply arbitrarily, distorts price signals, and precipitates economic instability. Moreover, it contravenes the U.S. Constitution's which grants Congress sole authority to coin money and regulate its value, not to delegate such powers to private entities for profit. Clause 5 states (“To coin Money, regulate the Value thereof”) explicitly giving Congress exclusive authority, which private banks usurp by creating money as loans. Clause 6 (“To provide for the Punishment of counterfeiting”) implies that unauthorized money creation, like unbacked loan issuance from a private bank, is akin to counterfeiting—a punishable offense.\ \ This essay dissects 20 key terms, tracing their etymology, historical evolution, and contemporary usage to expose how they misrepresent these realities. By revealing this linguistic deception, I advocate for transparency and a return to principled economics that prioritizes individual sovereignty over systemic exploitation.\ \ I have provided Bitcoin denominations of some U.S. dollar amounts, priced at $108,000 | 1 BTC per BTC, highlighting fiat’s inflationary absurdity against Bitcoin’s fixed 21-million-unit supply. These conversions underscore the scale of debt creation, as sums like $4 trillion | 36,871,457 BTC exceed Bitcoin’s entire supply, exposing the unsustainability of fiat systems. You can install Opportunity Cost to seamlessly display BTC denominations on all USD denominated prices in this same style.\ \ II. Methodology

The terms selected are foundational to banking and law, chosen for their capacity to mislead by portraying debt as wealth, banks as neutral intermediaries, or inherent flaws as innocuous features. Each term undergoes analysis through its linguistic origins, historical transformations—particularly amid the rise of modern central banking—and its role in concealing fractional reserve banking's fraudulent nature, where money emerges ex nihilo as debt, repayable with interest absent from the initial supply, ensuring defaults. This examination draws from historical dictionaries, Austrian economic texts (e.g., Mises, Rothbard), and legal records, approached from first principles: questioning assumptions about money creation and emphasizing voluntary exchange over coercive debt systems. Historical and modern examples illustrate impacts, with factual data verified from reliable sources like the Federal Reserve and Bureau of Labor Statistics to ensure accuracy.

III. Analysis of Key Terms

A. Core Banking Terms

Money derives from the Latin moneta, meaning "coin" or "mint," linked to Juno Moneta, the Roman goddess whose temple served as a mint. Originally, money denoted tangible coins, often gold or silver, with intrinsic value rooted in scarcity and utility as a medium of exchange. With the advent of fiat systems and fractional reserve banking, its meaning shifted to encompass digital entries created by banks as debt. The 1971 Nixon Shock, severing the U.S. dollar from gold, solidified this transformation, converting money into unbacked fiat and accelerating inflation. Ludwig von Mises, in The Theory of Money and Credit, cautioned that such debased money impairs economic calculation by obscuring true scarcity. Today, "money" implies tangible wealth, but it is predominantly unbacked debt, fabricated without reserves in a process that inflates the currency supply, erodes purchasing power, and fosters instability—violating constitutional mandates for sound coinage.

Lending originates from Old English lǣnan, meaning "to give temporarily," evoking the transfer of physical goods with an expectation of return. Historically, lending involved actual assets, such as grain or gold, from lender to borrower. In fractional reserve banking, banks "lend" by generating digital money via entries, not by disbursing existing funds—a fraudulent act akin to counterfeiting. The 2008 financial crisis exposed this, as banks' over-leveraged "lending" precipitated a global collapse requiring unconstitutional bailouts. Murray Rothbard, in Man, Economy, and State, argued that such practices spawn artificial credit booms, distorting market signals. The term misleads by suggesting banks merely intermediate depositors' funds, when they create new debt repayable with interest absent from the supply, perpetuating cycles of borrowing.

Borrowing stems from Old English borgian, tied to pledging security, originally signifying the receipt of tangible goods with a repayment promise. Today, borrowers receive not real wealth but bank-fabricated debt tokens. The 18th-century South Sea Bubble illustrated this deception, where debt masqueraded as wealth, culminating in economic ruin. Mises contended that this distorts price signals, hindering rational allocation. The term obscures how borrowers incur obligations to repay with interest the system fails to provide, creating a structural mismatch which necessitates further debt creation—a fraudulent trap that contravenes first principles of voluntary exchange and constitutional limits on money creation.

Interest traces its roots to Latin interesse, "to be between" or "to matter," initially a legal compensation for delayed repayment. Once a modest fee for physical money, interest now applies to loans conjured out of nothing. The 1929 stock market crash demonstrated how interest-laden debt fueled speculative bubbles. Rothbard posited that in fractional reserve systems, interest induces artificial scarcity, promoting malinvestment. Presented as a fair borrowing cost, interest misleads because the money supply often lacks sufficient units for coverage, compelling new loans and sustaining the debt cycle that Austrian theory and rational thinking deems unsustainable.

Debt originates from Latin debere, "to owe," from de- (away) and habere (to have). Historically, debt represented personal obligations settled with real goods. In modern finance, it has become a systemic instrument, with banks fraudulently creating debt as money. The 1990s Asian financial crisis revealed how such debt accumulation triggers collapses. The term frames debt as neutral, yet it shackles borrowers to banks, demanding repayment with interest exceeding available money, ensuring perpetual indebtedness.

B. Banking Operations Terms

Deposit comes from Latin deponere, "to lay down" or "place," originally referring to physical goods entrusted for safekeeping. In early banking, deposits were tangible assets like gold. Today, they are bank liabilities, leveraged to create loans in a fraudulent multiple-expansion process. The 1930s U.S. bank runs highlighted this, as depositors discovered "stored" funds were illusory. The term implies secure storage, but under fractional reserve banking, deposits fuel unbacked debt, rendering banks vulnerable and the system unconstitutional by enabling private currency creation. The money you put in a bank is no longer yours, nor is it money. Once deposited, it’s the bank’s asset; you’re a creditor with a claim, not an owner.

Reserve derives from Latin reservare, "to keep back" or "save," suggesting stockpiled funds for security. Banks once held substantial gold reserves; now, requirements are negligible or absent, exposing the fraud. The 2008 crisis "necessitated" bailouts with public funds due to insufficient reserves. Friedrich Hayek, in Prices and Production, warned that unbacked systems warp markets. The term misleads by implying robust holdings, when minimal reserves conceal the massive inflation inherent in the system. Since Covid, reserve requirements for all depository institutions have been set at zero percent. Read that again.

Loan traces to Old Norse lán, "loan" or "gift," implying a temporary asset transfer. Today, banks create loans as digital money, not from existing pools—a core fraud of fractional reserve banking. The 1980s savings and loan crisis demonstrated how such creation leads to failures. The term suggests benign exchange, but loans inflate the supply with debt, repayable with interest, distorting economics— creating inflation and directly harming those in society who own no assets and save in currency, like low-income families facing 2025’s 8% auto loan delinquency rates, who lose purchasing power fastest.

Credit derives from the Latin credere, meaning “to trust” or “to believe,” originally evoking a handshake agreement where lenders offered real assets—like gold or goods—based on faith in repayment, fostering mutual confidence in trade. In early markets, credit was a tool of trust, enabling productive exchanges rooted in savings and accountability, as Austrian economist Ludwig von Mises emphasized in The Theory of Money and Credit for clear economic signals. Today, “credit” often means permission to incur debt, conjured by banks through loans. The 2007 subprime crisis, where $1.2 trillion | 11,061,437 BTC in risky mortgages fueled a housing bubble that crashed, showed how easy credit inflates asset prices, luring borrowers into over-leveraging. This mislabeling warps decisions: individuals, enticed by “credit” as a path to wealth, take on unsustainable loans. The term “credit” suggests opportunity and trust, but it cloaks a debt-driven trap that distorts choices, undermining the savings-based, stable markets Mises championed. This linguistic deception steers society toward reckless borrowing, eroding economic resilience.

Currency stems from the Latin currere, meaning “to run” or “flow,” originally evoking coins—gold or silver—that circulated freely in markets, carrying intrinsic value as trusted mediums of exchange. In early economies, currency was a reliable store of wealth, enabling clear planning and trade, as Austrian economist Carl Menger highlighted in Principles of Economics for its role in facilitating voluntary exchange. After the 1971 Nixon Shock ended the gold standard, currency morphed into unbacked fiat, created as debt by banks. With 2025’s “official” U.S. CPI at 2.8%, inflation steadily erodes savings—$10,000 | 0.09 BTC today buys 2.8% less next year (or perhaps more, if you're saving in BTC)—distorting how people plan for the future. This shift skews economic behavior: savers hoard or speculate rather than invest productively, while businesses misjudge costs, as seen in 2025’s rising corporate bankruptcies, up 10% from 2024. The term “currency” implies stable value, but its debt-based nature guarantees persistent purchasing power loss, undermining the reliable, commodity-backed exchange Menger championed. This linguistic veil distorts perceptions, pushing society toward high time preference decision making and economic fragility.

C. Legal and Financial Terms

Mortgage originates from the Old French mort (dead) and gage (pledge), literally a “dead pledge”—a haunting term for a loan where the borrower’s property was pledged to the lender, lost only if repayment failed. Historically, mortgages were land-based contracts, tying tangible assets to tangible debts, rooted in mutual agreement and property rights, as Austrian economist Hans-Hermann Hoppe might argue for in A Theory of Socialism and Capitalism, emphasizing clear ownership. Today, the term cloaks a debt trap: banks create mortgage loans from thin air, often with 5-10% reserves, binding borrowers to decades of payments. Many people will pay multiple times the value of a home over the duration of their mortgage. In Q2 2025, U.S. mortgage delinquencies hit 1.79%, with FHA loans spiking to 10.6% due to high rates averaging 6.83%, squeezing first-time buyers with lower credit scores. Borrowers, lured by the illusion of owning their dream home, face rising costs—like 2025’s 15% surge in property taxes and insurance—distorting financial planning and locking them into debt servitude. The term obscures a system where banks, not owners, control property, undermining the secure, voluntary property rights Hoppe champions. This linguistic deception traps society in a cycle of aspiration and loss, eroding the dream of true ownership while simultaneously inflating the prices of homes with consistent bids fueled by speculative credit.

Trust originates from the Latin fiducia, meaning “confidence” or “reliance,” evoking mutual faith in personal or legal agreements, like a handshake deal to safeguard assets. Historically, it denoted arrangements where one party entrusted property to another with absolute integrity. In modern banking, “trust” brands institutions as “trustworthy,” lulling customers into believing their “money” is safe. Yet, the 2008 Lehman Brothers collapse, which obliterated $600 billion | 5,530,719 BTC in assets and triggered global panic, exposed this as a lie—banks prioritize profits over depositors’ security, leveraging deposits into unbacked loans via fractional reserve banking. Austrian thinkers like Ludwig von Mises argue this distorts market trust, replacing genuine reliance with systemic deceit. The term cloaks profit-driven exploitation in a veneer of reliability, enabling banks to create unbacked money while betraying the public’s faith, a deception that fuels dependence on a broken system.

Fiduciary stems from the Latin fiduciarius, meaning “trust-based,” rooted in fiducia (confidence), implying an unwavering duty to act in a client’s best interest, like a guardian safeguarding another’s wealth. Historically, fiduciaries were bound by honor to prioritize clients, managing assets with integrity. In modern banking, the term paints banks and advisors as loyal stewards, yet this is a facade. The 2010s Wells Fargo scandal, where employees opened over 3.5 million unauthorized accounts to meet profit-driven quotas, revealed fiduciaries serving bank interests over clients’. In fractional reserve banking, fiduciaries enable massive money creation—lending as unbacked debt and violating constitutional money powers. Murray Rothbard, in Man, Economy, and State, critiques this as a betrayal of market trust, prioritizing profit over duty. The term misleads by cloaking exploitative, arguably unconstitutional practices in a veneer of loyalty, deepening public entrapment in a debt-driven system.

Security stems from Latin securus, "free from care," implying safety. Modern securities are now debt-speculative. The 2008 crisis tied them to subprime fraud. The term suggests low risk, but they rely on unstable, perpetual money creation.

Default derives from the Latin defallere, meaning “to fail” or “to deceive,” originally describing a breach of contract, like failing to repay a debt in good faith. Historically, defaults were individual lapses, tied to tangible obligations. Today, the term pins blame on borrowers, painting them as failures in a system rigged against them. The 2020s student loan crisis, with $1.8 trillion | 16,592,156 BTC in U.S. debt and delinquency rates near 7% in 2025, exposes the trap: fractional reserve banking creates loans with interest that often exceeds the money supply, making defaults mathematically inevitable. Ludwig von Mises, in The Theory of Money and Credit, argued that such systemic flaws distort economic signals, punishing individuals for structural failures. By labeling defaults as personal shortcomings, the term conceals the money printing that fuels these crises, shifting scrutiny from banks’ deceit to borrowers’ struggles.

Equity comes from the Latin aequitas, meaning “fairness” or “equality,” originally suggesting rightful ownership, like truly owning your home or business. In finance, equity is what’s left of your asset’s value after subtracting what you owe—like the portion of your house you have paid off and “own” outright after accounting for your mortgage. But here’s the catch: in fractional reserve banking, when a person or business goes bankrupt—meaning they can’t pay their debts and a court steps in to settle things—creditors gets paid first, often wiping out equity. Think of the 2008 housing crash: millions lost homes to foreclosures because banks seized properties to cover unpaid loans, leaving homeowners’ equity—their “fair share”—at zero. Murray Rothbard, in Man, Economy, and State, called this system fraudulent, as banks create loans from nothing, charging interest which inflates debts that crush equity. The term “equity” implies fairness, but in this setup where private banks create money, “owners” are left empty-handed if they fail to pay their mortgages according to terms.

D. Systemic Terms

Bank derives from the Old French banque, meaning “bench” or “table,” referring to the counters where medieval money-changers exchanged coins in bustling markets. In those days, banks were trusted vaults, storing tangible wealth like gold or silver, ensuring depositors’ assets were safe and accessible, aligning with first principles of property rights and voluntary exchange. With the rise of fractional reserve banking, accelerated by the 1913 Federal Reserve Act, banks transformed into debt factories, creating money ex nihilo by lending out deposits they don’t fully hold— with almost zero reserves. This practice, which Austrian economist Murray Rothbard in Man, Economy, and State labels fraudulent, violates Article 1, Section 8 of the U.S. Constitution, which grants Congress sole authority to “coin Money” and “regulate the Value thereof.” By issuing unbacked loans—$700 billion | 6,452,505 BTC in toxic debt fueled the 2008 financial crisis, requiring unconstitutional bailouts using more counterfeited money—banks usurp Congressional power, inflating the money supply and distorting price signals, as Ludwig von Mises warned in The Theory of Money and Credit. The term “bank” evokes images of secure vaults, fostering psychological trust, yet this masks a system that amplifies instability, as seen in the post-COVID landscape’s rising financial volatility and high inflation eroding citizen’s savings. Far from safeguarding wealth, banks’ debt-driven model fuels boom-bust cycles, entrapping individuals in a system that undermines economic sovereignty.

Collateral derives from the Latin com- (with) and latus (side), meaning “secondary security,” originally referring to tangible assets—like land or gold—pledged to ensure loan repayment, a safeguard rooted in mutual trust and property rights. In early economies, collateral was a physical guarantee, returned if the borrower paid up, or claimed fairly if they didn’t, aligning with first principles of voluntary exchange. In modern fractional reserve banking, collateral serves a darker purpose: it enforces debt contracts in a system where banks create loans from nothing, often with little reserves. The 2008 housing crisis saw banks seize millions of homes—over 3.8 million foreclosures between 2007 and 2010—when borrowers couldn’t repay loans inflated by unbacked debt creation. Austrian economist Ludwig von Mises, in The Theory of Money and Credit, argued that such debt-fueled systems distort economic signals, making repayment nearly impossible due to interest shortages. The term “collateral” suggests protection for both parties, but it masks a fraudulent cycle: banks create money for free, then use “collateral” to seize assets when inevitable defaults occur, trapping borrowers in a rigged system. Psychologically, it fosters false security, luring people into debt with the promise of fairness, only to strip them of real wealth, amplifying the instability of a debt-driven economy and slowly siphoning real assets to the banking class as a reward for their role in counterfeiting money to provide “economic growth” via credit creation.

Capital stems from the Latin caput, meaning “head” or “principal,” originally denoting tangible wealth—think land, machinery, or gold—that fueled productive ventures like building farms or factories. In early markets, capital represented real resources, accumulated through savings, enabling entrepreneurs to create value through voluntary exchange, as Austrian economists like Friedrich Hayek championed in Prices and Production. Today, the term often cloaks leveraged debt as wealth, where banks create “capital” through loans conjured from thin air, not hard assets. The 1920s stock market bubble, fueled by $8 billion in broker loans—equivalent to $130 billion today—popped in 1929 when debt-fueled speculation collapsed, wiping out savings and businesses. This mislabeling distorts economic decisions: businesses chase debt-driven “capital” for short-term gains, like stock buybacks over R&D, skewing innovation and long-term growth. The term “capital” suggests productive wealth, but by equating it with debt, it misleads investors and policymakers into fueling bubbles, undermining the sound money and market clarity Hayek advocated. This linguistic sleight-of-hand shifts society toward speculative excess, eroding the foundation of sustainable prosperity.

Liquidity stems from the Latin liquidus, meaning “fluid” or “flowing,” originally evoking already existent and readily available resources—think cash or gold coins that could be quickly used to settle trades or seize opportunities in a vibrant market. In early economies, liquidity meant having tangible wealth on hand, supporting genuine exchange and stability, as Austrian economist Friedrich Hayek emphasized in Prices and Production for clear market signals. Today, “liquidity” often refers to debt-fueled funds, conjured by banks through loans. The 2020 COVID response saw the Fed inject $4 trillion | 36,871,457 BTC in new credit, bloating the money supply to “maintain liquidity,” yet this masked a fragile economy that teetered on collapse when supply chains faltered. This sleight-of-hand distorts reality: businesses and governments, chasing “liquid” funds, over-rely on debt, inflating asset prices—like 2025’s stock market surges despite stagnant real wages—while ignoring underlying weaknesses. The term “liquidity” implies ready access to wealth, but it cloaks a debt-dependent system that misleads markets into reckless expansion, undermining the stable, savings-driven growth Hayek championed. This linguistic mirage fuels overconfidence, diverting society from building resilient, productive economies.

Summary Table of Terms

IV. Synthesis and Implications

These terms, originating in concrete, trust-based concepts, have evolved to veil fractional reserve banking's fraudulent and unconstitutional essence. By depicting debt as wealth ("money," "capital") and banks as secure ("bank," "trust"), they conceal a system that fabricates money without backing, repayable with nonexistent interest, guaranteeing defaults. This distorts signals, incites malinvestment, and engineers boom-bust cycles, as Austrian economists like Mises and Rothbard elucidate. The linguistic obfuscation cultivates unwarranted trust in an unstable, unconstitutional regime, eroding economic liberty.

Psychological and Cultural Consequences

The deceptive lexicon of banking not only conceals fractional reserve fraud but profoundly alters human psychology and culture. Terms like "credit" and "mortgage" normalize debt as essential, while inflation—stemming from unbacked money creation—exerts a corrosive psychological force. With average annual money supply expansion of 7-10%, savings depreciate, incentivizing high-time preference: favoring immediate consumption over deferred gratification. Austrian theory posits that sound money encourages low-time preference, fostering saving and long-term planning; inflation reverses this, punishing prudence and rewarding impulsivity. Why accumulate when currency loses value? This shift traps individuals in survival mode, fixated on Maslow's hierarchy base—physiological needs like food and shelter—amid rising costs outpacing wages. Unable to ascend to safety, belonging, esteem, or self-actualization, people forgo education, innovation, or family planning.\ \ Societally, this breeds a reactive culture: diminished investment in communities, heightened isolation, and consumerism fueled by debt. Media and education perpetuate this, glorifying "easy credit" while ignoring the fraud of the system, clashing with Austrian advocacy for sovereign individuals. The outcome? A society mired in short-termism, vulnerable to crises, with weakened cohesion and innovation stifled by malinvestment.

Countering Mainstream Defenses

Advocates claim fractional reserve banking spurs growth via credit expansion. Yet, Austrian business cycle theory counters that artificial credit induces malinvestment, culminating in crises like 2008. Terms like "liquidity" and "credit" euphemize debt as beneficial, overlooking inevitable defaults and inflation which burden individuals who cannot print money legally, while banks collect interest on money they created out of nothing.

Ethical Implications

Misappropriating terms like "trust" and "fiduciary" constitutes an ethical violation, as banks profit from deceiving the public about their fraudulent debt creation. This exploits ignorance, ensnaring borrowers in repayment loops while banks claim collateral or seek bailouts from public funds, prioritizing institutional avarice over well-being—a moral outrage demanding reform aligned with first principles of honesty and voluntarism.

V. Conclusion

The lexicon of banking and law artfully disguises fractional reserve banking's fraudulent and unconstitutional flaws, portraying debt as wealth and taxpayer-funded privatization of losses—such as the 2008 bailouts where banks offloaded $700 billion | 6,452,505 BTC in toxic debt onto public shoulders—as security. Tracing terms like "money," "lending," and "debt" unveils how language perpetuates a system fabricating money ex nihilo, fostering dependence on the state (which cannot create value because everything it has is taken by threat of violence), banks, and market distortions. Ludwig von Mises, in The Theory of Money and Credit, warned that fiat money, untethered from commodities, distorts economic signals and erodes savings, a philosophy echoed in Bitcoin’s design as a decentralized, fixed-supply alternative. Rothbard, advocating for voluntary exchange in Man, Economy, and State, would see Bitcoin’s 21-million-unit cap as embodying sound money principles, countering the inflationary deceit that punishes savers and rewards speculators. In a sound money framework—gold-backed coins or Bitcoin’s scarce units—terms would reflect truth, embodying Austrian ideals of free markets and real value, free from the debt traps that ensnare borrowers and amplify boom-bust cycles. Heightened awareness could ignite calls for such systems, reclaiming economic clarity, individual sovereignty, and liberty from a regime that privatizes gains while socializing losses through perpetual money creation. Future inquiry must probe how regulations and education sustain these distortions, upholding an untenable order.

VI. References

Oxford English Dictionary (etymological roots).

Mises, L. von. The Theory of Money and Credit.

Rothbard, M. Man, Economy, and State.

Hayek, F. Prices and Production.

Federal Reserve Economic Data (FRED) for 2025 mortgage and inflation statistics.

Historical records on South Sea Bubble, 2008 crisis, and other events.

U.S. Bureau of Labor Statistics (wage and cost data).

I've finally set it in stone. September 18th I'll be ...

2025-08-29T12:59:43Z

I've finally set it in stone. September 18th I'll be hosting a lecture and a Q&A titled Introduction to Bitcoin: The Future of Money. I intend to record the session and post it for the world to see! Stoke is high.

Going to install Opportunity Cost on my wife's laptop so that ...

2025-08-27T23:35:08Z

Going to install Opportunity Cost on my wife's laptop so that she randomly starts seeing satoshi prices next to dollar prices on everything. She is not tech savvy and will have no idea what's happening. Should I tell her it must just be a new browser update and it's a sign we're winning? Thanks MartyBent (nprofile…l2yj)

I'm looking at getting two of the Hash Vortex S9 Space Heater ...

2025-08-27T23:30:54Z

I'm looking at getting two of the Hash Vortex S9 Space Heater Cases. I found two new Antminer S9's for $440 shipped with power supplies. I live in an old house and want to figure out how I can put in a WiFi smart plug to monitor temperature (one in each of two rooms) and a WiFi bridge for the miners to turn them on/off so that they're not running 100% 24/7.

Does anyone have experience running this setup and can you help me figure it out?

#bitcoin #mining

I teamed up our Huskies today. When Loba (the purebred) was ...

2025-08-27T22:43:31Z

I teamed up our Huskies today. When Loba (the purebred) was younger, we used to mush all the time. She would pull me 3 to 5 mi on a longboard on pavement, or we would do 5 to 7 mi mountain biking and she would just kind of help out on the uphill sections. We got pretty good at staying together, and finding a good Pace.

Olie, our younger Huskeroo (who is mixed with Blue Heeler), had never mushed before.

Our leashes have a handle about 1 ft away from the harness, and I tethered them together with a carabiner. This gave them a 2-ft gap between them but made sure that they kept pace and kept together.

It actually went incredibly well. Olie looks up to Loba and he follows her lead. They were able to figure it out really quickly and now I'm not feeling very tired but they are definitely pooped!

I'm really interested in the idea of an oil cooled or ...

2025-08-27T16:40:04Z

In reply to nevent1q…kkj8
_________________________

I'm really interested in the idea of an oil cooled or water-cooled rig, and then recycling that heated oil or water through a small radiator with a 12 volt DC fan behind it.

I'm really interested to try to set up #Bitcoin miners as my ...

2025-08-27T16:38:17Z

I'm really interested to try to set up #Bitcoin miners as my home heating for two rooms this winter. I'm wondering who in the community would be a good resource to talk to about trying to set something up and how to calculate whether or not it is worth it versus the propane heat we currently use. Does anyone know a strong resource for home heating Bitcoin mining knowledge? Ideally they would be willing to talk to me and offer guidance without charging. A majority of my income goes to my wife's health bills right now. I'm thinking about taking a little bit of profit from my small MSTR stack and investing in Bitcoin mining for the winter, and then taking a little bit more off the table to install solar panels to power it during the summer.

#mining

I feel like modern pornography has transformed younger ...

2025-08-27T14:18:45Z

I feel like modern pornography has transformed younger generations of men into misogynistic immature beta males that don't know how to please a woman and have unrealistic expectations about love and sexuality, and society doesn't seem to want to have that conversation.

Matthew 7:7 - "Ask, and it will be given to you; seek, and ...

2025-05-10T00:19:42Z

Matthew 7:7 - "Ask, and it will be given to you; seek, and you will find; knock, and it will be opened to you."

God Bless #Bitcoin and all the plebs who have donated to me and my wife's Strategic Cancer Reserve.

Thank you brother

2025-05-09T18:25:16Z

In reply to nevent1q…h0m7
_________________________

Thank you brother

Hey Bitcoin family, I need some help. I need advice. I need ...

2025-05-09T01:06:12Z

Hey Bitcoin family, I need some help. I need advice. I need anything that makes sense. My wife has cancer.

My post from this morning blew up and got more engagement than anything I've ever posted. I appreciate the genuine care and support that people have offered. I am falling apart, and I have to make some really hard decisions. If you're a real one, please read through this and offer any advice you have. I'm just a normal guy, and I really want to hear what you have to say.

So my wife and I have known each other since early high school. We were good friends. I left my hometown and did seasonal chef work and traveled for most of my twenties. We got together about six years ago, and my wife was battling with alcohol addiction. I was the main breadwinner-- supported her through her alcoholism, getting a DUI, and being completely dependent on me. After a few years of spiraling alcoholism, COVID hit. We tried to live out of a pop up camper and work on the Oregon coast, but it was too much with a Husky and a Manx Cat.

We moved to the city. I got a corporate job that crushed my soul and paid more than I've ever made. Her drinking got so bad that I was picking her up from bars at 1:30am because she was seizing and someone found me in her phone and called me. It finally got to the point where I had decided to leave. I gave her an ultimatum-- get sober, or you're homeless with no job, no assets, and no property to your name.

And then she did. She did a yoga sobriety program that transformed her life. She has been clean ever since. We took profits at the top of the 2021 market and bought a 1978 Toyota motorhome. I rebuilt it while we lived out of it, and we had many hardships. For a year we drifted up and down the West Coast of the United States, working when we needed to... and floating on when we had the money.

We found ourselves in San Diego and I had a manic episode. It turned into a full blown psychotic episode that landed me in the hospital. It took months if not an entire year for me to get my mind back. We moved home, sold the RV, and started building a life in NC again.

I got back into restaurants. I've been a chef my whole life, grinding hard for meager wages just chasing my passion for food and art. This time was different, I could no longer be a corporate line-dragger. Bitcoin had changed me too much.

I worked for a plant nursery, but the owners and management were incompetent and kept shooting themselves in the feet. I couldn't work for someone that cared less about their business than I did, so I quit. Shortly after, I had another manic episode, and after two nights of not sleeping I admitted myself to the hospital to be medicated. After a week in a psych ward, I was finally released. I have since been on medication that seems to stabilize my brain imbalances, and haven't had these issues.

My wife has Lupus, Sjogren's syndrome, and severe endometriosis. About a year and a half ago she got a surgery to address the endometriosis, and in the process we found out my she had the very early stages of mesothelioma forming on her colon. This is incredibly rare and maybe 1,000 cases at most have been documented. She healed from surgery, her chronic illness persisted, and we pushed forward.

I have wanted to attempt to become an entrepreneur, so my wife agreed to be the main breadwinner for a bit so I could take a step back and try to start building a farm so that we have income separate from the fiat mines. I am worried the stress of going back into kitchens could push me into manic episodes, and the trade I have used to support myself my entire life now seems out of reach.

I have been developing the property that we live on (that her family owns) to create a microfarm with the dream of having our own business.

My wife's health continues to spiral. After a year and a half of waiting for a referral to SOMEONE who can help, her doctor said there are three people in the country qualified to operate on her.

The Mayo Clinic in Phoenix, The Mayo Clinic in Minnesota, and a private doctor that we absolutely cannot afford.

I just got our garden planted, and I've spent a good bit of money trying to get the farm going. Last week we found out the mesothelioma cells are growing rapidly. She's on Myfembree (a hormone blocker) for the endometriosis and it's forcing her body into menopause at the age of 34 to hopefully slow down the endometriosis scar tissue buildup.

Her first appointment with Mayo clinic is in early August... So we're going to have multiple flights halfway across the country to consult with doctors and hopefully get set up for her surgery. She needs endometriosis removed from her bowel, mesothelial cancer cells removed, and hopefully they won't have to take so much of her bowel that she'll be on a colostomy bag for the rest of her life. They'll also need to perform a partial hysterectomy to force her body into menopause so the Endometriosis will stop growing.

Since I've been focused on building the farm, I only work two days a week. She's our main breadwinner, working full-time and also doing a yoga teacher training to follow her passions. She is pushing herself too hard, but she's not the type of woman I can tell anything. She has to find these things on her own.

The cancer is starting to destroy her energy levels, she can barely eat, and she's unable to keep weight on. She's under 100 pounds at this point, but she's a very petite woman.

I really want to make the farm work, and I also desperately need income. Once she starts taking trips to Mayo Clinic the bills are going to pile up. We live in a very rural area, and there are not many opportunities for jobs that pay anything worth my time.

I have done nothing but grind and sacrifice for the last five years. I've saved up almost half a Bitcoin.

So that's it. Our life savings. Almost half a Bitcoin. I have around $2,500 monthly income, and she makes bank waiting tables at a Relais & Châteaux Hôtel. But I don't know how much longer she can keep pushing herself this hard.

I feel like a piece of shit because she agreed to take on being the main breadwinner so I could try to get us a business built to provide income... but that feels far off and not concrete. We need income NOW.

If I push to get a corporate F&B management job, I might push myself into another manic episode. If I have another break, then I add to the stress instead of alleviate it. I don't know what the fuck I'm going to do.

I feel like the only thing that makes sense is to sell most of our stack, and park it in MSTY. If I can save enough from dividends to cover our capital gains, then everything else can go into paying the bills and keeping us solvent... and anything leftover can go straight back into spot BTC. If we can beat the cancer, then I can sell the MSTY and put it back into spot BTC.

I feel like if I wait until the bills are piling up, we're going to end up being forced to liquidate our BTC and pay for everything, and then I'm back in the fiat mines and our life savings is gone.

If I plug it in MSTY, then at least we have a chance to keep the money flowing and retain some of the equity.

What would you do in my shoes? Any advice is welcomed.

I'm desperate. I've been self-made my entire life and never asked for handouts... But I really don't know what the fuck we're going to do. If this post strikes a chord with anyone and you're loaded and want to help a random pleb that's just trying to keep his wife alive:

BTC: bc1q3l06t26jx7avlcns98vn0p6sj940egkk27h5p6

Lightning: BodhiSATtva@primal.net

Paypal: micahfranz@gmail.com

Venmo: @MicahFranz last four are 7943

Two more beds to row up. Got the other six done by hand this ...

2025-04-27T16:58:04Z

Two more beds to row up. Got the other six done by hand this morning. We're almost ready to start planting for the season! I'm running a little behind schedule for what I wanted to accomplish, but also I'm right on time because now is all there is.

#ProofOfWork
#Bitcoin

GN bitcoin https://m.primal.net/QbGN.jpg

2025-04-24T02:07:46Z

GN bitcoin

If you're tagged in this, You probably have no idea who I am, ...

2025-03-08T00:16:15Z

If you're tagged in this, You probably have no idea who I am, but I want you to know that it's because I respect the fuck out of you.

I’m a #Bitcoin #revolutionary, and I don’t give a damn if nation-states figure it out or choke on their own debt.

In my lifetime, Bitcoin will be the global currency—full stop. It’s not just money; it’s the best shot we’ve got to smash the cartels of banks that’ve chained us to debt slavery for centuries.

This is about unleashing human potential—art, creativity, love—shit we haven’t seen since the ancients dreamed big. It’s about flipping the script: freeing people from soul-crushing labor, handing power back to individuals, saving the planet from corporate leeches, and forcing society to think beyond next quarter’s profits.

The math doesn’t lie, and it’s ugly. Debt interest? It’s a runaway freight train—$300 billion to $1.5 trillion in under five years. That’s a parabola from hell, and it’s coming for everyone. Stick to the status quo, and most people get obliterated. Fact.

We’re teetering on the edge of a Bitcoin world order. The leader of the Free World just greenlit a Strategic Bitcoin Reserve—boom, there’s your new global reserve asset. This isn’t a drill; it’s a starting gun. Nations will claw over each other in a Bitcoin arms race—game theory doesn’t mess around. No one wants to be the last sucker holding a dying fiat bag.

Markets haven’t clocked it yet. Maybe 1% of the world gets Bitcoin; 2% even heard the news. Do the math: 1% of 2% is a tiny tribe of us who see this tectonic shift coming. The post-WWII Bretton Woods house of cards? Crumbling. The rise of the sovereign individual, the sovereign corporation, permanent digital capital? Happening now. The fiat elite are still sipping champagne in their delusion, but their clock’s ticking.

Bitcoin doesn’t care who gets wrecked. Insurance giants, pensions, fractional-reserve banks, central banks—adapt or die. It won’t shed a tear for collapsed currencies, starving masses, or societies imploding when ATMs run dry. Print more money?

Bitcoin gets stronger. Adoption snowballs. People demand it. It is a currency—screw the US dollar’s feelings—and the writing’s on the wall.

Sanctions? GFY.
Censorship? GFY.
Seize my wealth? GFY.

People will pick Bitcoin because it’s the hardest money ever forged—the most secure network humanity’s built. It’s the economic singularity: infinity divided by 21 million. That’s not a tagline; it’s a reckoning. Fiat’s days of printing its way out are done. The more they inflate, the faster it dies.

We’re staring down a black hole that’ll swallow the world, and we’d better get serious. No grifters, no proof-of-stake bullshit—we’ve already got that with the Fed. We need sharp minds, real talk, and no screwing around. Botch this, and we’re not just broke—we’re back in the Dark Ages.

Math doesn’t negotiate. The fiat system’s a wobbly Jenga tower, and printing cash is their only move—screwing us all with every dollar they churn out. Bitcoin’s the lifeboat, the ultimate store of value. Lightning Network for biz and governments? Sure. E-cash for the plebs via Cashu or something slicker? Yep. But we’ve got to solve scaling now, because math’s a ruthless bastard, and it’s coming fast.

This isn’t Max Payne—it’s Mad Max if we don’t wake up. Let’s build, or we’re all toast.

calle (npub12rv…85vg)
jack mallers (npub1cn4…3vle)
Natalie (npub1ahx…5ech)
bitpaine (npub1htv…pkuq)
bram (npub1gfx…escl)
breedlove22 (npub15vz…k4um)
gladstein (npub1trr…hdpu)
Ioni (npub1cj3…2tyy)
LynAlden (npub1a2c…w83a)
resistancemoney (npub1yez…awc7)
CARLA (npub1hu3…h8nh)
CarlBMenger (npub10wv…v22x)
Iancarroll (npub1xr7…2gqh)
MatthewPines (npub128t…fadp)
The Bitcoin Way (npub1lrj…mzx2)
MartyBent (npub1guh…6hjy)
parman_the (npub1ltt…k97y)
parachutesBTC (npub1n9m…6jup)
adam3us (npub1qg8…24kw)
walker (npub1cj8…rz4u)
saylor (npub15dq…lm5m)

Nostr event nevent1qqs89ezpup7470ajcp8vxxvxvemwnwg5w2q2kgqzx30lfmzltxz8qlqzyr8r4jfztp6fveshsmxwv6uunxp7eqswr3kkgnwg7stv0390kal3w744way

2025-03-05T04:44:23Z

#Bitcoin doesn't pay to play; it is the game.

tis but a shart

2025-03-04T02:54:38Z

In reply to nevent1q…jwxw
_________________________

tis but a shart

I mined thousands of pi in 2020. I have my seed phrase. I ...

2025-02-25T17:43:15Z

In reply to nevent1q…cwjw
_________________________

I mined thousands of pi in 2020. I have my seed phrase. I don't know the phone number I mined from. they cannot recover my pi without my phone number. that leads me to believe pi isn't a blockchain. I was just going to dump those coins for Bitcoin When the open mainnet goes live... If I could access them, that is.

In the vast expanse of samsara, where the illusion of wealth ...

2025-02-24T13:18:19Z

In the vast expanse of samsara, where the illusion of wealth binds countless beings, let us contemplate a truth unveiled: the combined riches of all billionaires in this land of America amount to $6.7 trillion. Yet, in the cycle of a single year, 2024, the federal government expended $6.75 trillion—an amount that surpasses even the totality of these amassed fortunes. Were we to gather every coin and jewel from these wealthy ones, it would not suffice to sustain the government’s desires for even one turn of the seasons.

Gaze now upon the chart of existence, dear ones, with eyes of compassion and clarity. The "wealth inequality" spoken of by the seeker named Bernie is a ripple on the surface of reality, yet he does not chant the deeper mantra of its cause. The root lies not in the hearts of men alone, but in the very nature of the coin we cling to. See how the M2 money supply, like a swelling river, rises in harmony with the treasures held by the uppermost 1%, while the humble possessions of the lower 50% trickle upward only faintly. Why, you may ask with a seeking mind? It is the Cantillon Effect—a subtle law of this realm—where those nearest the wellspring of newly birthed money reap its richest harvest.

The Federal Reserve, a mandala of private banks, weaves this web, while the government, vast and shadowed by craving, bows to its rhythm. This is a nation sculpted by the hands of bankers, sustained by their breath, and offered to their lineage. Until the money itself is healed, all else is but a fleeting distraction, a dance of maya.

Yet, place not your faith in the hands of rulers to mend this broken wheel, for those who grasp the reins of power are bound to its turning. They thrive in this impermanent order and seek not its dissolution. Liberation, dear ones, dawns through your own awakened steps—through the salvation of your own kin and spirit.

In this age, a path emerges: Bitcoin, a vessel of 21 million, finite and unyielding. No corrupt council, no cartel of greed, can swell its bounds. It is a raft to carry you across borders, a treasure no thief can seize when guarded with wisdom. Bitcoin is a shield against the decay of this system, a lotus of hope for you and your descendants, a whisper of freedom amid the chains.

Yet, alas, many wander lost, their minds clouded by the sweet poisons of distraction, fed by those who reign above. If you have journeyed this far, resting your gaze upon these words, a spark of awakening glows within you. There is still hope, dear one, for those who listen with open hearts. May you walk the path with courage and compassion, seeking liberation for all beings

#bitcoin
#nostr

For decades, central banks have wielded paper derivatives ...

2025-02-23T17:01:34Z

For decades, central banks have wielded paper derivatives contracts to suppress the price of gold, a practice that traces back to the Clinton era. At the time, gold had surged to nearly $1,900 per ounce, signaling inflationary pressures on the horizon and offering investors a refuge from currency debasement. Clinton, wary of destabilizing the bond market, set the stage for this manipulation. Today, estimates suggest there are 100 to 300 paper claims for every ounce of physical gold in existence—a precarious imbalance. If investors demand delivery, bullion dealers won’t have enough to fulfill orders. The result? A squeeze on physical gold that could propel its price tenfold or more, as those holding paper contracts scramble to buy real gold from a shrinking supply to cover obligations. These contracts, typically cash-settled financial instruments, can technically be redeemed "in-kind" for physical gold, though few expect that call to come—until now.

Signs of a gold run are emerging, hinting at banks turning on each other in a high-stakes game of musical chairs. Banking, at its core, is a fragile system: every fractionally reserved bank in the U.S. is insolvent by design, unable to survive a full withdrawal of deposits. Why? Because fractional reserve banking relies on double-entry accounting and public ignorance to mask its essence—a legalized counterfeiting scheme. Banks create loans from thin air, collecting interest on money that costs them nothing to produce. Modern banknotes echo this relic of deception. The dollar, once defined as $35 per ounce of gold, lost its backing in 1971 under Nixon’s “temporary emergency measures”—a move that became permanent. Now, it’s a debt-based currency, repackaged as an asset, propped up by the vague promise of the “full faith and credit of the U.S. government.” It’s all credit, no substance—just trust holding it together.

Lifting the gold peg unshackled central banks, granting them the power to print limitless currency, unbound by physical constraints. Paper derivatives became their tool to short gold, stifling its price and stripping investors of a hedge against rampant money printing. As new currency floods the system, scarce assets—gold, housing, food—rise in value, inflating prices faster than wages can keep pace. Relative to gold’s original $35 peg, the dollar has shed 98-99% of its purchasing power, with gold now at roughly $2,700 per ounce. Against consumer goods, per the CPI, it’s down about 87% since 1971. Meanwhile, central banks globally float their fiat currencies, competitively debasing them to prop up debtors and stabilize the system. Currency too strong? Print more, erode its value, and save the borrowers at the expense of savers.

Then came Bitcoin. Unlike gold or paper promises, Bitcoin can be claimed in full via self-custody in ten minutes, bypassing the games of banks and derivatives. Over the past five years, the dollar has lost about 90% of its purchasing power against it, reflecting Bitcoin’s meteoric rise. This isn’t a glitch—it’s the system working as intended, favoring banks, governments, and the ultra-wealthy. Gold’s suppression, the dollar’s decline, and Bitcoin’s ascent lay bare the mechanics of a trust-based economy teetering on the edge.

https://goldbroker.com/news/london-gold-market-defaults-physical-gold-deliveries-3491

To be fair, it does say that the field was optional and often ...

2025-02-18T02:16:49Z

In reply to nevent1q…pzgn
_________________________

To be fair, it does say that the field was optional and *often* left blank. Not always. But yes we should not have to pay taxes because taxation is theft and this clown show ran off the rails seventeen years ago.

I felt like this show was synchronicity popping up a day after I ...

2025-02-18T02:11:26Z

I felt like this show was synchronicity popping up a day after I loaded up on 7 shares of GME. I'm 99.95% Bitcoin, but I like the setup for a squeeze if Cohen pulls a Saylor. Its a good set up. The commentary on gold is telling of the adversarial environment we're entering. Fuck the globalist commies we have sound money you can't fuck with.

quoting
note1hzp…tgvz
Caught up with peruvian_bull (nprofile…7rzq) to discuss the latest in the world of $GME, what's happening in gold markets, and all of the debt that needs to be rolled over this year.

"There's a run on the gold markets in London."

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

In May 2020, the Federal Reserve adjusted the definition of M1 ...

2025-02-18T01:26:32Z

In reply to nevent1q…d0yr
_________________________

In May 2020, the Federal Reserve adjusted the definition of M1 money supply to include savings accounts, which were previously only part of the M2 money supply. This change was due to an amendment in Regulation D, which previously limited the number of transfers or withdrawals from savings accounts to six per month. When this restriction was lifted, savings accounts became functionally equivalent to checking accounts, thus qualifying them to be included in the M1 aggregate.

This adjustment led to a significant increase in the reported M1 money supply because it effectively added the balances of savings accounts into M1, which were not counted there before. This reclassification caused M1 to skyrocket as it essentially absorbed a large portion of what was formerly considered part of M2. This redefinition did not reflect new money being created but rather a shift in how existing money was categorized.

https://m.primal.net/OxgK.jpg GM US household debt hit an ...

2025-02-15T13:48:57Z

GM

US household debt hit an all-time record and jumped by $93 billion in Q4 2024 to a record $18 trillion.

It has been driven by a $45 billion surge in credit card debt, hitting an all-time high of $1.2 trillion. Household debt as % of disposable income is 87%.

Inflation is erasing the middle class.

Those who don't own assets will be financially rekt by inflation over the next decade. There is simply too much Government debt that must be issued and rolled over at higher interest rates, and not enough natural demand for it.

The economy can be described as:

consumers + investors/savers + government = "the economy".

As the government debt has grown to unsustainable levels, and orders of magnitude higher levels of money creation go to creating money for servicing that debt instead of private sector "productive loans" that flow more broadly to savers and investors... we have a problem. That's where we are now.

When you don't own Bitcoin, government debt is your problem. Debt stacks up, spending new units of currency into existence, debasing your relative purchasing power and eroding your ability to pay for rent, food, and groceries. The prices don't really go up, the purchasing power of the currency goes down... because all prices are relative. This is the natural state of inflationary currency (currency regimes that manage crises by creating new units of currency and injecting them into the system).

Bitcoin is highly correlated to global liquidity-- the more they print into the fiat system, the higher it gets valued... because it has a fixed supply, and value is relative.

By owning Bitcoin, government debt becomes your greatest asset. Debt means more dollars. Bitcoin is essentially an insurance policy against reckless government spending. The most serious threat to Bitcoin would be a balanced budget and no deficit spending. But, let's be real....

Printer is coming. Saving anything you can in Bitcoin for the long term is the escape hatch.

The current total unrealized losses on U.S. banks' balance sheets as of the first quarter of 2025 are reported to be $329 billion. Bank of America has over 100B in unrealized losses alone.

What does that mean? It means they don't have your money. Because the second you deposit it in the bank, it becomes their operational capital. While the bank uses your money for its operations, you retain a legal claim on that money. The bank has a fiduciary duty to manage those funds responsibly, ensuring they can return the principal amount to you upon demand or at the agreed maturity date for time deposits.

Currently, they are insolvent if all depositors demanded delivery.

In practice, the money you deposit is part of the bank's operational capital, but legally and morally, it's still yours, with certain protections in place.

Those protections are as follows--

The current legally mandated reserve ratio for U.S. banks is 0%. This policy has been in place since March 26, 2020, when the Federal Reserve reduced reserve requirement ratios to zero percent for all depository institutions.

Have a great day.

#bitcoin
#DebtCrisis
#nostr

<3

2025-02-14T21:14:41Z

In reply to nevent1q…gmjv
_________________________

<3

#GM indeed #nostr #maha https://m.primal.net/Ofia.jpg

2025-02-14T13:11:00Z

#GM indeed
#nostr
#maha

https://m.primal.net/Ofhv.jpg In the year 2047, the world had ...

2025-02-14T13:05:00Z

In the year 2047, the world had seen the collapse of traditional #fiat currencies. The Great Financial Reset, as it came to be known, left economies in shambles, with nations scrambling for stability. #Bitcoin, long mocked as a digital folly, had become the bedrock of a new financial order. From its ashes, a mosaic of currencies emerged, each backed by Bitcoin, creating a complex web of trust, value, and #power.

In this new world, New York City was a battleground of currencies. X, once a social media giant, had pivoted to become a financial behemoth. They issued the X-Coin, backed by their vast Bitcoin reserves, offering users a blend of digital identity and currency. Their currency was accepted in every digital transaction, from buying a coffee to securing a loan, but it came with strings attached – every purchase was a data point, enhancing X's already pervasive surveillance.

Across the river, JP Morgan, having learned from past mistakes, had issued JP-Bit, a currency for the elite, with promises of stability and exclusivity. Their banking halls were palaces of marble and steel, where the wealthy could transact without the prying eyes of the digital world, but trust was their currency – one misstep, one rumor of insolvency, and their JP-Bit could plummet in value.

#Strategy, formerly known as #MicroStrategy and now led by Michael Saylor, had launched the Saylor Standard, a currency deeply integrated with their business analytics and intelligence tools. This currency was not just a means of transaction but a gateway to advanced data insights, where holders could leverage their Saylor Standard for predictive analytics, financial forecasting, and strategic market positioning. However, navigating this currency required a deep understanding of both finance and data science, making it a tool for those with the knowledge to wield it effectively.

El Salvador, a pioneer in Bitcoin adoption, now floated the Salvadoran Satoshi, which was community-driven and backed by the country's geothermal energy Bitcoin mining operations. It was the people's currency, but its volatility made it a risky choice for everyday transactions, leading to a dual economy where barter was not uncommon.

The city buzzed with the clatter of these competing #currencies, each with its own ecosystem of trust, technology, and regulation. #Trust was no longer an implicit promise by governments but a commodity negotiated daily. Transactions were complex; a simple meal could involve converting from one currency to another, with each conversion layer adding fees, risks, and data collection.

Amidst this chaos, crime thrived. Black markets emerged where people traded in Bitcoin directly, avoiding the surveillance and conversion rates of private currencies. However, this was a double-edged sword; while it offered freedom, it also exposed users to scams and theft without recourse from any central authority.

Our protagonist, Maya, a hacker turned financial consultant, navigated this world with a mix of tech-savvy and street smarts. She worked for those who could afford her services, decrypting the layers of currency protocols to find the best rates and safest transactions. But her real passion was in the shadows, where she maintained a network of underground servers running open-source protocols.

These servers were the heart of an underground economy where Bitcoin and #nostr - a #decentralized communication #protocol - were king. Here, the elite communicated without oversight, trading ideas, assets, and influence with Bitcoin as the silent currency, unburdened by the volatility and surveillance of private currencies.

However, this elite circle was small, and the majority, the plebeians, were stuck in a world where every transaction was a gamble, every piece of data sold for the illusion of convenience. Maya knew the system was flawed, not just in its execution but in its very design.

As she sat in her loft, overlooking a city divided by digital borders, Maya reflected on the lessons of this new era. The monetization of Bitcoin had indeed shifted power, but it had also fragmented society further. The forward-looking approach to Bitcoin's potential had been realized, but at what cost? The #nation-#state had lost its #monopoly on money, fractional reserve banking had transformed into something unrecognizable, and trust had become a new form of capital, concentrated in the hands of those who could navigate or manipulate the #system.

#IsThisWhatYouWant?
#DigitalAssets
#Crypto
#Bitcoin
#fiction
#scifi

I get that. it was supposed to be a pedo joke 😭

2025-02-05T18:28:26Z

In reply to nevent1q…y6z7
_________________________

I get that. it was supposed to be a pedo joke 😭

idk why so few of "the elite" are into #Bitcoin... ...

2025-02-05T00:47:09Z

idk why so few of "the elite" are into #Bitcoin...

don't they know it's only sixteen years old?

I have contacted the CEO of Bitcoin kindly zap me 69 sats and I ...

2025-02-01T03:34:49Z

In reply to nevent1q…kd8m
_________________________

I have contacted the CEO of Bitcoin kindly zap me 69 sats and I wil be authorized to refund you

hey #nostr, What is the best way to share audio on nostr? I'm ...

2025-01-29T00:18:45Z

hey #nostr,

What is the best way to share audio on nostr?

I'm putting some of my poems over beats and I'm looking into to putting them on Wavlake.

they're in mp3 format now, and I'd love an easy solution to host them somewhere and embed that into a note.

any suggestions are appreciated!

#music

oh captain my captain

2025-01-23T22:55:59Z

In reply to nevent1q…wael
_________________________

oh captain my captain

While I share your Paranoia / sentiment, I feel like this is ...

2025-01-23T21:27:13Z

In reply to nevent1q…kekc
_________________________

While I share your Paranoia / sentiment, I feel like this is likely language signaling the Silk Road coins being potentially used to form the SBR. Given the context that most of their coins come from seizures of bitfinex and silk Road, And they have previously signaled that one of the major ways an EO could establish a stockpile is by redirecting those seized funds, it seems appropriate that they would move to use the ones they already hold (regardless of whether they acquired them through theft) . just my two Satoshis

welcome to nostr 🥂

2025-01-21T22:35:05Z

In reply to nevent1q…y2q4
_________________________

welcome to nostr 🥂

Bitcoin is a global digital Salt March to the sea of Digital ...

2025-01-21T21:03:46Z

Bitcoin is a global digital Salt March to the sea of Digital Capital. Those who fail to lead will follow.

quoting
nevent1q…nxyv
MLK, Ghandi, Nelson Mandela, and Jesus.
-All convicted felons.

I am NOT comparing Trump to these men in any other way than to demonstrate that being a “felon” to your political enemies is utterly meaningless.
🧡🍻👊🏻

⚡️⚡️repost and reply for⚡️⚡️

GM stay stoic stack sats this too shall pass #bitcoin #nostr ...

2025-01-21T15:06:09Z

GM

stay stoic

stack sats

this too shall pass

#bitcoin
#nostr

to navigate politics and business, bankruptcy, legal battles, etc ...

2025-01-19T12:10:02Z

In reply to nevent1q…l7at
_________________________

to navigate politics and business, bankruptcy, legal battles, etc it takes some degree of intelligence.

A lot of #Bitcoiners went through a #shitcoin phase before ...

2025-01-18T21:04:00Z

A lot of #Bitcoiners went through a #shitcoin phase before understanding the absolutely mind-shattering #consciousness-bending mathematical Marvel that is absolute #scarcity, and it's potentially catastrophic game theoretic imposition into global #markets.

Many people are afraid of adversarial thinking, lack knowledge of how markets price, do not understand #cryptography or it's power and significance to all of our modern infrastructure, cannot fathom anything but #currency as money, lack the knowledge of the last sixteen years of Bitcoin's journey, don't see #Bitcoin as money, think Bitcoin can't be currency, and believe that it will fail.

But you know better. That's why you're buying the top forever. You recognize there is one global energy currency that can't be co-opted easily... and that everything else "crypto" isn't worth your time. And that's fantastic.

However, The President of the United States is in a shitcoin phase. He is obviously highly intelligent, else he would not be where he is. I think that people have a duty, especially if they have intimate access with this man, to try to help him understand the precipice upon which we now stand.

#America can claim the Second Great American Revolution for itself and the world, and lead us to a kardashev type 1 civilization. We can change history. We can liberate the masses. We can bring a global mutual sum game to the default "Norm" of civilization's base layer, replacing a long-forsaken system built on theft and extortion, catapulting us into a new age of #prosperity that is mutually guaranteed due to aligned incentives.

We can also watch in horror as grifters and rent seekers try to muddy the waters. If we establish a United States shitcoin Reserve, and allow unregistered securities operators to rug pull the United States economy, it could be devastating for most people And create a very slippery slope to degenerate things that I'd rather not even consider. I'd like to think that we're better than this. I'd like to think that we can take this opportunity that Satoshi gave us, and make the world a better place.

And I hope you do too.

Thanks to people like
calle (npub12rv…85vg)
MartyBent (npub1guh…6hjy)
gladstein (npub1trr…hdpu)
ODELL (npub1qny…95gx)
jack mallers (npub1cn4…3vle)
Gigi (npub1der…xzpc)
Jameson Lopp (npub17u5…t4tp)
LynAlden (npub1a2c…w83a)
preston (npub1s5y…6q7z)

and countless unnamed, I found my way out of the shitcoin waters years ago.

I hope that together, as a community, everyone who sees the #radical potential of Bitcoin to change the world away from evil and towards the forces of #good... don't let that fire burn out. We must carry and wave this torch and light the way such that generations yet to come retain their Liberty. It is a call larger than any one of us.

May you heed it with grace.

Tempora mutantur.

#nostr
#bitcoin
#revolution

GM We could have "Bitcoin is a commodity and everything else ...

2025-01-18T12:52:28Z

GM

We could have "Bitcoin is a commodity and everything else is unregistered securities, Bitcoin is the new backing for the global financial system" but instead we got a grifty shitcoiner.

I hate to say it, but Trump is the next #hawk tuah.

#nostr
#bitcoin

quoting
note140w…k5mw
I don’t think everyone is understanding…
The President of the United States just launched his own memecoin at 10PM on the Friday night before his inauguration.
Trump is going to juice the markets so much he’ll make Janet Yellen look like Volcker.

Grok is the only reason I still use X and pay for premium. Does ...

2025-01-17T23:29:40Z

Grok is the only reason I still use X and pay for premium.

Does anyone have recommendations for a comparable, preferably free or under $15/mo option one might use if they wanted to divest from X?

Thanks for any suggestions 🙏

#nostr
#ai
#machinelearning
#bitcoin adjacent

Maybe, and perhaps it just takes time to build a complex adaptive ...

2025-01-17T20:47:36Z

In reply to nevent1q…c6gq
_________________________

Maybe, and perhaps it just takes time to build a complex adaptive system to overthrow the current monetary order. Bitcoin is the base layer of the future, and I believe its value will continue to reflect that fact through relentless appreciation.

A free world needs private money. Period. The entire financial ...

2025-01-17T19:19:42Z

A free world needs private money. Period.

The entire financial system we have today is permission-based, censorable, and has many single points of failure. In other words, it is built upon trust (which can be betrayed).

Bitcoin provides a permission-less parallel system for any individual to build on top of, and Bitcoiners are making privacy in the digital age a reality. Cashu (currently being built on top of the Bitcoin blockchain, and inter-operable with the Bitcoin Lightning network) is one of the most consequential technological developments of my lifetime.

The revolution that is currently taking place thanks to Bitcoin is only possible because of over 40 years of brave individuals that believed in building freedom tools without permission even in the face of adversity.

David Chaum is often celebrated as a pioneer in the realm of digital privacy, particularly through his invention of "blind signatures" in the 1980s. His work laid the groundwork for digital cash systems that could offer the privacy of physical currency. Chaum's concept of Chaumian mints was designed to allow for anonymous transactions where the identity of the payer is concealed from the issuer of the digital currency. This idea materialized into the eCash system through his company DigiCash, although it struggled with market adoption due to its centralized nature and the technological limitations of the time.

In the 1990s, David Chaum's vision of Chaumian e-cash came close to becoming a widespread reality, particularly through his company DigiCash, which introduced eCash. The system was designed to mimic physical cash's privacy and security features, using cryptographic protocols like blind signatures to ensure anonymity in transactions.

One of the most promising opportunities for eCash was a potential partnership with Microsoft. Bill Gates expressed interest in integrating eCash into every copy of Windows 95, which could have dramatically increased its adoption. Microsoft reportedly offered around $100 million for the technology, an offer that, if accepted, could have made eCash a standard digital payment method across a vast user base.

However, the deal fell through because Chaum demanded $1 or $2 per sold copy of Windows 95, a condition Microsoft found too costly. This negotiation breakdown was a significant blow to eCash's prospects, as integration with Windows 95 could have provided the infrastructure and user base necessary for mainstream acceptance.

Despite this and other potential partnerships with banks and companies like Visa and Netscape, DigiCash failed to secure the necessary traction. The absence of widespread merchant adoption and consumer usage, combined with Chaum's insistence on maintaining high privacy standards which might have limited commercial appeal, led to DigiCash's eventual bankruptcy in 1998. While Chaumian e-cash was previously on the brink of becoming a reality, the Microsoft partnership's failure was a critical juncture that significantly impacted its potential success in the 1990s.

Today, Chaum's vision is being revitalized within the Bitcoin ecosystem through innovative projects like Cashu and Fedi. Cashu implements Chaumian e-cash on top of Bitcoin, using the Lightning Network for transactions. It enables users to transact with digital tokens that are backed by Bitcoin but maintain user privacy through blind signatures. Unlike traditional banking, where transactions can be traced, Cashu allows for mints to be run by anyone, ensuring no single entity controls the flow of money, thus preserving the privacy and immediacy of physical cash in a digital form.

Meanwhile, Fedi leverages the Fedimint protocol to create a federated system of Chaumian mints, where a group of "Guardians" collectively manage the mint. This approach offers a community-based custody solution for Bitcoin, blending privacy with a form of decentralized governance. By using multi-signature wallets controlled by a federation, Fedimint reduces reliance on a single authority, enhancing security and privacy. Both Cashu and Fedi/Fedimint are bringing Chaum's dream of private, scalable digital cash into the modern era, integrating it with Bitcoin's blockchain technology to offer users the control, privacy, and accessibility akin to handling physical cash.

Big thanks to calle (nprofile…tgzr) `and MartyBent (nprofile…s2gj) for all the work they're doing to make anonymous digital cash a reality.

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

https://m.primal.net/NkCP.jpg

2025-01-16T23:58:24Z

In reply to nevent1q…2za7
_________________________

GN tomorrow we march on. #banksy #bitcoin #art #revolution ...

2025-01-16T02:59:54Z

GN
tomorrow we march on.

#banksy
#bitcoin
#art
#revolution

You continue to be an inspiration every day. Thanks for your ...

2025-01-15T12:13:54Z

In reply to nevent1q…dy6z
_________________________

You continue to be an inspiration every day. Thanks for your work, Jeff. Do you have any good resources like basic slideshows or something for someone wanting to do community education projects? I want to try to get an educational community Bitcoiners group going but don't have a ton of time to develop resources. I can talk bitcoin and Austrian economics for days, but wondering if anyone has put together some good bullet points in a logical order for people new to BTC.

Well articulated... how are NPCs formed? similar to mass ...

2025-01-15T01:45:11Z

Well articulated... how are NPCs formed?

similar to mass formation psychosis in many ways.

quoting
note10nw…pn09
How are normies programmed ?

Circular validation is used to make the programming nearly impenetrable:
-Media cites ‘experts’
-Experts cite peer-reviewed studies
-Studies are funded by industry
-Industry shapes media coverage
-‘Fact-checkers’ cite media consensus
-Academia enforces approved conclusions

Each component validates the others while excluding outside information. Try finding the entry point for actual truth in this closed system. The normies simply outsource their opinions to ‘authoritative sources.’
Most disturbing is how willingly they’ve surrendered their sovereignty. Watch them defer:
“I follow the science” (translation: I wait for approved conclusions)
“According to experts” (translation: I don’t think for myself)
“Fact-checkers say” (translation: I let others determine truth)
“The consensus is” (translation: I align with power)

welcome to nostr. there's some really cool tools you can ...

2025-01-13T00:50:33Z

In reply to nevent1q…gjl2
_________________________

welcome to nostr. there's some really cool tools you can explore at https://zapstore.dev/

GM from the farm. #nostr #farmstr #photography #bitcoin ...

2025-01-11T16:38:01Z

GM from the farm.

#nostr
#farmstr
#photography
#bitcoin

https://m.primal.net/NcEH.bin

At some point I decided that being an anonymous hodler wasn't ...

2025-01-09T22:57:46Z

At some point I decided that being an anonymous hodler wasn't enough.

I feel a responsibility to connect with good people in my community and try to ever so slightly nudge them towards #Freedom.

I feel the responsibility to attempt to build a #Bitcoin community where I live, inspire others to learn about it, and help prepare future generations for what is yet to come.

I feel a responsibility to remind people how awesome #nostr is even though none of them give a shit, or have the slightest idea what private key cryptography is.. yet.

I decided being an anonymous hodler wasn't good enough.

So I planted 140x40-ft garden, with the dream that I could supply nutritious chemical free food to my community. The test garden was an absolute success.

A few months later, and now my wife and I have a business plan written. Yesterday, I decided which seeds to sow.

A few minutes ago, I mulched my shallots and garlic with 3 in of dry leaves because we're supposed to get half a foot of snow tomorrow.

In a few days, we'll be talking to the county extension office about grants available for new farms.

In a few weeks we'll be establishing an LLC.

In a few months I'll be selling heritage and heirloom varieties of common vegetables, flowers , wildcrafted teas, foraged mushrooms, and more to my neighbors... and I'll have a sign that says Bitcoin preferred at the front of my farmstand. And I'll put my face behind it. And my name. And I'll be proud of it.

And that's why I decided to dox myself, and let my identity be more than just "being an anonymous Bitcoiner".

I am helping build the future.

#bitcoin
#proofofwork
#photography
#farmstr

It is officially cold. Lake James hath Frozen over. #farmstr ...

2025-01-09T16:13:19Z

It is officially cold.
Lake James hath Frozen over.

#farmstr
#photography
#nostr

I just moved my life's savings at 5:30pm on a Tuesday without ...

2025-01-07T23:53:34Z

I just moved my life's savings at 5:30pm on a Tuesday without leaving my bedroom, and it cost me the equivalent of 81 cents in fiat dollar cuckbucks.

#bitcoin
#gfy

bye ledger , hello Q

Coinkite (npub12ct…c5ky)

I have been putting this off for about a month. Today, I finally ...

2025-01-07T21:44:48Z

I have been putting this off for about a month.

Today, I finally got around to setting up my fully airgapped Coldcard Q with Sparrow wallet. I have been dragging my feet on ditching Ledger for too long.

There is something about sending a large transaction that always makes me feel like I'm going to have a panic attack. Probably has something to do with the Bitcoin I lost in the past, before software or hardware wallets were thing... which is orders of magnitude more than I now hold.

It feels good to know that my private key will never touch the internet.

#soverign
#bitcoin
#pleb

GM It's a cold one on the farm this morning. #farmstr ...

2025-01-07T18:44:51Z

GM
It's a cold one on the farm this morning.

#farmstr
#photography

should've read the other posts before I wrote mine

2025-01-05T19:06:25Z

In reply to nevent1q…a8tu
_________________________

should've read the other posts before I wrote mine

welcome, you came to the right place

2025-01-05T19:06:00Z

In reply to nevent1q…a8tu
_________________________

welcome, you came to the right place

To me, as someone who studies AI, monetary systems, and #Bitcoin, ...

2025-01-04T20:13:36Z

To me, as someone who studies AI, monetary systems, and #Bitcoin, it seems quite obvious where things will go.

Already, most value is digital. 97% of dollars only exist as entries in a bank ledger. Banks can expand and contract those ledgers at will creating money on the spot by pressing a button.

Bitcoin doesn't allow for that. Bitcoin is constrained by algorithms and a specific rule set that cannot be changed without consensus from the users, which is almost impossible.

Value has gone digital, and that's a problem. For now.

The natural state of the economy in a free market would be deflation. As technology gets better and increases productivity, more productivity can be achieved with less work. The end state should be that prices fall. That's a logical conclusion that we can derive by thinking about it objectively.

Now, if you price things in USD, prices continue to rise in an inflationary monetary system because new units are constantly being created. Every time the government deficit spends, every time a loan is issued from a bank, and every time the Fed bails out some business that went under, we pay for it in inflation.

Bank loans directly create new money, they don't actually "loan" anything... Wealth is delegated by centralized entities to those who are willing to take risk. In this respect, Banks and governments are king makers that delegate value to individuals that are willing to take risk. This enriches a few at the cost of literally everybody else.

Those who take the risk and get the newly created currency (debt) benefit because they can go out and use that currency to buy real goods and services, and it follows that those who do not take risk and do not go into debt are then diluted by those new units of currency.

Most good honest people try to avoid going into debt, so they are inevitably being pushed into the margins because as new money is created at higher and higher orders of magnitude (think trillions), their purchasing power is eroded at an accelerating pace. In a debt-based system, you have the law of diminishing returns, and for every dollar that's printed into existence you get less economic "productivity". What this means is that overtime more debt has to be issued to achieve the same result. In perpetuity, forever, into Infinity. So for everyone saving in this system, prices go up forever. That is just the natural state of debt-based inflationary currency. It has only been like this for a very short period of History. This was impossible with gold being used as the currency.

Bitcoin is different. It is its own contained system. The unit of account is the Satoshi and there will only ever be 2.1 quadrillion units, forever. Bitcoin does not have any credit or debt on-chain. In the Bitcoin system, either you control the private keys to an address in the ledger, which gives you the right to move those satoshis, or you don't. If you don't store your private key securely, and someone else gets a hold of it, then they can move that value.

As we continue to move forward in the economy, these infinitely expanding fiat currencies can all enter the Bitcoin ecosystem. In order to acquire Bitcoin, you must sell another currency for Bitcoin. So every time someone trades dollars for Bitcoin, that weakens the equity in the dollar system and strengthens the equity in the Bitcoin system.

Everyone who already holds Bitcoin gets richer anytime someone else joins the network.

Since the current system is built on debt and leverage, it inherently becomes less stable as more value gets sucked into Bitcoin.

The fate of any debt-based fiat currency is to continue to inflate until the currency is worthless. Every single Fiat currency in the history of currencies has done this, except for the few that are currently in the process of doing so. This is the natural state of inflationary debt-based currency.

Now that a secure alternative exists, all of the currencies of nation states will be threatened. The incoming administration understands this, that is why they are going to push through a Strategic Bitcoin Reserve. When they do this, all other sovereign nations will be forced to do the same because of the game theoretic interactions of global currencies. The dollar is the linchpin of the global financial currency scheme, and most foreign currencies are backed with US debt in the form of Treasury securities.

As nation states start to acquire Bitcoin, their national currencies will become less and less stable, And will accelerate in the loss of purchasing power (because math is real and fiat currency isn't).

There are a lot of large actors in the Bitcoin ecosystem now that are pushing the idea that Bitcoin is only an asset. That is not true. Bitcoin is a currency, it directly competes with the dollar, and it can be used in a peer-to-peer manner that completely disintermediates the banks. It also removes the ability to censor and surveil transactions if you know what you're doing.

So, naturally, institutions like BlackRock that thrive on Fiat privilege are very threatened by this, because their entire business model relies on you custodying your assets with them, and them charging a fee to manage those assets. They also gain incredibly asymmetrical advantages by custodying your assets, such as exercising the voting rights for the shares of companies that you hold with them.

The clear path of those who wish to remain in power because they have power over currency would be to corral Bitcoin as an asset, and try to centralize it in the hands of custodying institutions. This way, they do not lose control over currency. The easiest way to do this is to institute a digital ID that is tied to your social security number, that you must use to verify your identity. Once that is in place, they can and will begin to roll out Central Bank digital currencies. Tyrants across the world are openly developing Central Bank digital currencies and have intentions to deploy them.

Europe will likely see a digital Euro by 2030. There are already large steps being taken to try to institute Capital controls and keep people from being able to store value in Bitcoin without providing all of their information and telling institutions where they custody that Bitcoin.

As we move into the future, do not let the fearmongers tell you that Bitcoin is only an asset. By centralizing large amounts of Bitcoin into ETFs, we can potentially see a world in which institutions like BlackRock and the United States try to fork the Bitcoin blockchain.

In the case of a fork, anyone who holds their own private keys gets the same amount of Bitcoin on both forks of the chain. In the past, when we saw a hard fork of Bitcoin during the blocksize wars, users wanted to preserve the decentralized nature of Bitcoin, so users sold the fork that is now known as "Bitcoin cash" into the open market. Since everyone sold that version of the chain, its market value collapsed. This is the power of free markets.

If you custody Bitcoin on an exchange or with someone else in an ETF product, you don't actually hold the private keys. You literally do not own that Bitcoin. So if a fork happens, you may find that what you thought was Bitcoin in an ETF product is now BlackRock coin. And though it may retain some value, the users who so adamantly insist on Bitcoin remaining decentralized and used as a peer-to-peer currency will likely sell it into Oblivion. 93% of the Bitcoin supply has already been mined and a vast majority of it is in the hands of individuals.

If people wait until capital controls are in place and non-kyc sources of acquiring Bitcoin are attacked by the state, they will not be able to access Bitcoin unless they know someone personally who owns it... Order they will have to go through the "approved" channels to acquire Bitcoin which will likely not involve self-custody.

In that case, people will have to provide something of sufficient value to convince some Bitcoiner to part with their Bitcoin If they don't want to use kyc/surveilled Bitcoin.

As nation states realize the blunder of waiting so long to act seriously about Bitcoin, they will be forced to acquire it. That means that the price of Bitcoin will rise drastically because there is not anywhere near enough liquid supply to allow large pools of capital to enter without moving the price dramatically.

Because Bitcoin forces a free market for money on the entire world in a decentralized and peer-to-peer way, anyone who holds it will find themselves in a deflationary monetary system where prices consistently fall. In Bitcoin, all prices will fall to the marginal cost of production... And they have been doing so for 16 years. In the last year alone, the dollar has collapsed 56% against Bitcoin.

There is no one to issue credit to large multinational corporations so that they can maintain their monopolies and remain solvent even though they are in huge piles of debt and don't turn large profits.

The current business model of using debt and leverage to corner markets and establish monopolies will be directly threatened by Bitcoin. Any companies who hold Bitcoin will majorly out-compete any who don't, because Bitcoin's value when measured in Fiat terms will go up forever. When you have Infinity dollars being the measuring stick for finite money, the relative "price" will always go up as the money supply of Fiat expands. That is math.

In a world where AI continues to automate many things and disintermediate many jobs, and robotics provide labor without having to pay wages, all of the productivity gains of society will accelerate in an exponential manner. If governments and banks can continue to print Fiat units, they can siphon all of that value into wherever they want it to go by creating new units of currency ad infinitum, And those who continue to hold that inflationary currency will pay for it in inflation. Because that's how it's designed. These Fiat currencies were designed so that nation states could fund and fight endless wars without actually having to have the capital.

Bitcoin not only destroys the business model of fractionally reserved Banks and nation states that operate on perpetual debt, it forces them to acquire it if they wish to remain solvent, and will greatly enrich anyone who holds Bitcoin before they are forced to buy it.

Thanks for coming to my TED talk.

That's Mrs. Loba. Shes a whole lot of woman and I love her ...

2025-01-02T10:59:54Z

In reply to nevent1q…m6sn
_________________________

That's Mrs. Loba. Shes a whole lot of woman and I love her dearly.

GN With love, from Olie. #dogstr https://m.primal.net/NOUX.jpg

2025-01-02T02:13:59Z

GN
With love, from Olie.
#dogstr

touching the larger fabric of consciousness is scary, becoming ...

2025-01-01T12:30:51Z

In reply to nevent1q…593a
_________________________

touching the larger fabric of consciousness is scary, becoming one with this force is terrifying, realizing you are a fractal of the larger consciousness experiment in a lasting way you can integrate into your worldview and carry with you in your actions in the form of loving compassion - priceless.

Nostr event nevent1qqsqr96vrtssptyk63pl4aa3v7xecm2zee34xyga5uuphh99p7582mczyr8r4jfztp6fveshsmxwv6uunxp7eqswr3kkgnwg7stv0390kal3waaegcl

2024-12-30T23:16:28Z

https://rumble.com/v2czv70-jfk-to-911-everything-is-a-rich-mans-trick-documentary.html

mind-blowing to say the least

A Simple Happy Life pen on notebook paper #artstr #sketch ...

2024-12-30T21:32:30Z

A Simple Happy Life
pen on notebook paper
#artstr
#sketch

I got my first zaps today and I'm officially hooked on nostr. ...

2024-12-28T19:28:52Z

I got my first zaps today and I'm officially hooked on nostr. Bye x.

#bitcoin

#forthekids bless you and Lowery and Sessions and all of us ...

2023-02-19T20:15:53Z

In reply to nevent1q…u8l2
_________________________

#forthekids bless you and Lowery and Sessions and all of us fighting to hold the front lines

Super perfundo on the early eve of your day. Hi frens. Lets ...

2023-02-18T21:11:54Z

Super perfundo on the early eve of your day. Hi frens. Lets change the world!