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#Nostr npub1gv076p74fx2t5eh4w0w6q7vr60jsc6wlne4h0vm8ll0dlrm3rv5sgyerk4 Check it

PALMER LUCKEY: “PATENTS ARE CHINESE INSTRUCTION MANUALS.” “STOP PATENTING EVERYTHING. THE FOUNDING FATHERS NEVER PREDICTED A WORLD WHERE THE ENTIRE PATENT OFFICE COULD BE DOWNLOADED EVERY MORNING, RIPPED OFF, AND USED TO FIGHT A WAR AGAINST YOU.” “WE NEED TO FUNDAMENTALLY REVISIT THE PATENT SYSTEM.” “I THINK WE NEED TO MASSIVELY EXPAND THE NATIONAL SECURITY PATENT PROCESS. YOU CAN OBTAIN A CLASSIFIED PATENT THAT YOU'RE NOT ALLOWED TO DISCLOSE TO ANYONE... WHILE STILL MAINTAINING EXCLUSIVE RIGHTS.” “WE NEED TO MASSIVELY EXPAND THAT PROGRAM.”

Government money is for people who for some reason still trust their government For everyone else, there's #Bitcoin

Kent Halliburton on why Bitcoin isn't one innovation, but two: "The decentralized ledger is what we spend a lot of our time talking about — the ability to transact permissionlessly, uncensorable, across any place on the planet. But that's only one side of the coin. The other side is a decentralized money printer through Bitcoin mining. If you have hardware, electricity, and an internet connection, I don't care who you are or where you are — you can print your own Bitcoin. The ability to have a decentralized money printer is something that lets our humanity escape something we've been constrained by for 5,000 years. That, to me, is hash punk. And if we as a community embraced more of the hash punk aspect of our ecosystem, I think we'd be a lot healthier." @khalliburton of @sazmining on The @_BitcoinMatrix #282.

@creation247 @RyanTheGentry @countbtc this should be a feature with the thermostat update Hope you are doing well!✌️

Fahrenheit is superior to Celsius and I’m tired of pretending this is a debate. Fahrenheit feels like temperature was designed by an human being who walks outside, feels the air, and says, “Yeah, that makes sense.” Zero is freezing. 100 is brutally hot. 70 is comfortable. 80 is warm. The numbers feel like what they are describing. Celsius feels like it was designed by a committee of people who hate joy and want every conversation about the weather to sound like a chemistry lab. “It’s 22 degrees outside.” What does that even mean to a normal person? Am I wearing shorts? Am I grabbing a jacket? Nobody knows. You need a conversion chart and a government employee standing next to you explaining the vibes. Fahrenheit gives you range. That’s the point. It gives you more numbers for the temperatures human beings actually live in. You can feel the difference between 68, 72, 76, and 80. Those numbers matter. Fahrenheit lets you describe the world with more precision without having to break into decimals like a lunatic. And here’s the other thing... Celsius is connected to the metric cult energy that came out of the French Revolution. And the French Revolution was evil. Both of the Revolution were to rip out tradition, faith, monarchy, hierarchy, the Church, the calendar, the clock, and anything that reminded man he was not God. CELSIUS IS INHERENTLY EVIL So yes, Celsius may be useful if you’re boiling water in a lab. Congratulations. But Fahrenheit is for living LIFE because Fahrenheit is for walking outside and instantly knowing what kind of day you’re about to have. 100 means hot. 70 means beautiful. Zero means don’t go outside unless you have a death wish. That’s a real system.

It is not a coincidence that the country founded on individual liberties and free-market principles is also where Bitcoin adoption shines brightest.

Bitcoin is what happens when a bunch of autistic libertarian wizards look at central banking and say, “What if we simply removed the adults who keep setting the house on fire?” The wizards are going to WIN.

If only we had money the government couldn't control.

Morty: O-oh geez Rick... this one sounds kinda reasonable. Rick: That's because parts of it are, Morty. Bitcoin doesn't need MSTR. MSTR doesn't need STRC. And STRC doesn't need your spiritual devotion. They're different things. Morty: But he's saying they're helping adoption. Rick: Sure. That's the strongest argument. Some people won't self-custody. Some institutions can't hold Bitcoin directly. Some investors want yield, leverage, or credit products. The wrappers exist because demand exists. Morty: So what's the problem? Rick: The problem is when people forget the wrapper isn't the asset. Bitcoin is the protocol. Everything else is a financial product built around the protocol. Morty: So they're not enemies? Rick: Not necessarily. But every layer you add creates convenience... and counterparty risk... and incentives... and eventually an entire ecosystem of people explaining why the wrapper is more important than the thing inside it. Morty: So what's the right answer? Rick: burp Understand what you own. If you own Bitcoin, say you own Bitcoin. If you own MSTR, say you own leveraged corporate exposure to Bitcoin. If you own STRC, say you own a credit instrument linked to a company that owns Bitcoin. The confusion starts when everyone calls all three the same thing. They're not. And every cycle the market relearns that lesson the expensive way. 📦➡️📦➡️📦➡️₿🫠

I’m sick of it. The Bitcoin gloom and disappointment. Don’t you see what is underway? When you close your eyes, there’s one number you should see in your mind: $500T of fiat assets. That’s how much global asset value is sitting in Bonds (fixed income) & Money (M2 fiat currency). Why does that matter? Because that giant reservoir of ~½ the world’s asset value contains the potential energy necessary to power hyperbitcoinization. This is what Saylor sees. But do you see it yet? Consider Hoover Dam. The reservoir behind it contains 12 TWh of usable hydroelectric energy – it just looks like one big lake, calm and placid. But if you stick a pipe through that damn and put a turbine generator in the middle of it and let the water run through it… you can generate enough energy to power the city of Las Vegas for 5 years. That’s potential energy. Stored, untapped power. And by removing the barrier for the water to flow towards a lower energy state, you can harness the pent up power of the reservoir. This same mental model works for capital. A high Sharpe ratio is the financial analogue of a low-energy equilibrium state. Capital flows downhill, always seeking lower risk per unit of return. (Yes, I know everyone thinks about it as “highest return per unit of risk”, but this is the equivalent and helps understand the physical metaphor) Do you see it yet? Think about all the capital parked in fixed income instruments or money market funds. All of this capital is parked there because it has historically provided an acceptable trade-off of modest nominal returns for minimal risk. The entire premise of fixed income is “here’s a way to park cash in low-risk instruments that will generate a positive return slightly greater than inflation.” Adjacent to this asset category is “cash and cash equivalents” where the value proposition is somewhat smaller returns in exchange for even less risk. And over the decades, a steady stream of capital has found its way into these asset buckets that promise low risk and modest nominal returns via future fiat cashflows. These buckets have become a giant fiat reservoir, brimming with nearly $500T of capital. Do you see it yet? Along comes Strategy. @saylor realizes that much of this $500T of capital would be better off if it flowed into Bitcoin. But Saylor also recognizes that this reservoir of capital is inherently constrained. Boxed in by convention, investment mandates, risk management, volatility aversion, etc. It won’t flow to Bitcoin on its own. It can’t – it’s walled off, dammed up. Strategy engineers a solution. Creates a product to meet that capital where it’s at. The $500T fiat asset reservoir wants low risk, low volatility, fiat cash flows. Strategy designs preferred equity instruments that solve for these constraints, while Strategy uses the fiat capital proceeds to buy Bitcoin (which it believes will appreciate at 29% CAGR for the next 20 years). In exchange for capital today, STRC offers 11.5% annual returns with volatility asymptotically approaching 0. The Sharpe ratio is off the charts. It breaks everything in tradfi portfolio allocation. At first glance, it seems impossible. But it works because it’s not powered by risk-taking layered on top of fiat inflation; it’s powered by the ongoing monetization of a superior monetary asset whose endogenous properties ensure its appreciation when valued in fiat currency units over time. Saylor terms this kind of Bitcoin-powered fixed income offering “Digital Credit.” When a commodity flows from a high-energy state to a low-energy state, it releases energy. In the case of Hoover Dam, that energy can be used to power a hydroelectric turbine. In the case of Bitcoin treasury companies with Digital Credit offerings, that energy can be used to power shareholder returns for common equity holders. This can happen in every major capital market in the world. Do you see it yet? Strategy has stuck a pipe through the dam. A conduit through which capital can flow out of the Fiat Asset Reservoir and towards a low-energy equilibrium state. Digital Credit offerings (e.g., STRC, SATA, and others) create that value proposition. And what’s the Total Addressable Market (TAM)? All $500T of fiat assets in the reservoir. The recent SpaceX IPO Prospectus recently made a splash by claiming the company had a combined $28.5T TAM, proclaiming that this was the “largest TAM in human history.” But my essay from 2023 titled “Bitcoin’s Full Potential Valuation” already articulated how Bitcoin’s TAM is all value itself, above and beyond the usual lens of annual economic activity across industries. Saylor read it, adopted it for his presentations, and built on it with the Bitcoin24 valuation model. The SpaceX Prospectus is wrong. Bitcoin has the largest TAM in human history. And Digital Credit has the second largest TAM in human history – the $500T Fiat Asset Reservoir. Do you see it yet? Digital Credit offerings will redirect some % of the $500T Fiat Asset Reservoir into Bitcoin. This will happen because the value proposition of Digital Credit offerings is higher Sharpe than anything I am aware of in the entire $500T reservoir, inflation-adjusted. Think of it as the Second Law of Capital Dynamics: capital flows toward assets offering superior risk-adjusted returns. If Digital Credit ingests 1% over the coming decades, that’s $5T. It seems unreasonably pessimistic to think that only 1% of the $500T Fiat Asset Reservoir would be interested in vastly better returns with a similar (or better) risk profile. Let’s say Digital Credit appeals to a (still-conservative) 10% of the $500T fiat asset reservoir, that’s $50T. Bitcoin is currently a $1.5T asset. Do you see it yet? Digital Credit may direct a torrent of $50T of capital into Bitcoin over the coming decades. All of it bidding for a finite supply of Bitcoin. The scale of that inflow would likely drive Bitcoin’s valuation to $10m/BTC, or ~$200T total. Digital Credit is the plumbing of hyperbitcoinization. This is how it happens – you’re watching the early stages of Bitcoin’s monetization megatrend. The question is: do you see it? Or will it have to play out first?

🥷@craigraw just shipped Silent Payments receiving in Sparrow Wallet! One Bitcoin address. Reuse it forever. Zero privacy loss. This is one of the biggest privacy upgrades Bitcoin has had in years. Here's why it matters and what Silent Payments actually are. 🧵

@BrianRoemmele Yeah!

Saving in Bitcoin is far more powerful than voting. That’s not to say you shouldn’t vote. You should. But voting alone won’t fix the problems that got us here. Separating money from state will.

“Nobody is coming to save you also implies that nobody is coming to stop you.”

A peer-reviewed paper published last year in the journal Bioethics by two professors at Western Michigan University School of Medicine argues that it is "morally obligatory" to genetically engineer ticks to spread alpha-gal syndrome, a permanent condition that makes you violently allergic to red meat. The paper is called "Beneficial Bloodsucking." Their argument: if eating meat is morally wrong, then preventing the spread of a disease that forces people to stop eating meat is also morally wrong. Scientists should gene-edit lone star ticks to enhance their ability to carry alpha-gal syndrome and expand their range into urban environments to infect more people. They call this a "moral bioenhancer." They frame releasing genetically modified disease-carrying ticks as a "vaccination" that only "infringes" on your bodily autonomy rather than "violating" it. The distinction, apparently, is that a tick bit you instead of a government official holding you down. Alpha-gal syndrome is not mild. The CDC estimates up to 450,000 Americans are already affected. Cases have surged 100-fold in the last decade. Symptoms include anaphylaxis. There is no cure. Alpha-gal cases are exploding across the United States. The lone star tick's range is expanding far beyond its historical territory. And two academics at a medical school published a paper arguing this is a good thing that should be accelerated. At what point do we stop treating papers like this as fringe academic exercises and start asking whether anyone is already acting on them?

Most #Bitcoin books are several hundred pages long Satoshi's whitepaper describes it in just 9 pages I think about this often

This is crazy... I was up until 2:00 am talking with family members about MSTR and Strategy and used this EXACT example about Costco. It's easy to understand. Strategy has 9.6% BTC Yield through April 27th. Annualize it. 9.6% × 365/117​ = 29.95% mNAV = 1.28. 30% BTC Yield pace vs 28% premium paid today. Seems like MSTR is an incredible value right now if Bitcoin goes up and you're willing to hold for a year, that's literally what the math tells you. But in TradFi world DoorDash stock is totally properly valued at an 84 P/E... ...heaven forbid the mNAV goes above 1, right?

This

Sufficiently advanced engineering is indistinguishable from art

Started reading Democracy: The God That Failed on the flight to Vegas. The soft on crime judges in the US are doing incredible harm to the economy. When crime increases because there are no longer consequences associated with it, society reflexively increases its time preference.