Now that we have Bitcoin, it seems the fiat system is dependent on its own destruction in its attempt to continue existing. The old system is voluntarily destroying itself by following its own rules. It cannot stop. Its demise is inevitable.

The more BTC that’s locked up in Lightning channels, the less BTC will be available on exchanges. This means that rather than having to go to an exchange to buy BTC, a business will simply have to start accepting Lightning USDT in order to then close their channel and take custody of the underlying BTC. Look for Trump’s administration to set forth incentives for businesses who accept USDT. It’ll be much easier to get the US economy to transition to USDT than to start accepting Bitcoin Lightning payments. This allows the government to retain control of the world’s reserve currency. If this is the case, USDT holders will have an exit ramp to a superior store of value with just a few clicks. The way this administration goes about setting up the digital infrastructure, whose participation they allow, and the tax code around all of it will give you insight into what their overall strategy is. The river card has been dealt. Those at the table are making their final bets. By the end of the year, everyone’s cards will be face up. You know what to do til then.

GM. Better weather. Busier day.

GM. Little weather this morning. Some snow. Some freezing rain. Taking it slow today.

Thinking on this a bit more. Feel free to point out flaws in my thinking. USDT running on Lightning means that BTC never has to be sold on an exchange to be used as a medium of exchange within the US dollar system. When you put BTC into a USDT Lightning channel, you are A.) Not creating a taxable event and B.) Removing the possibility of that BTC being sold on an exchange. If the US Government wants to incentive this “dual money” era, they would simply have to maintain the current capital gains on BTC traded for other currencies and communicate clearly that moving BTC to a USDT Lightning Channel is tax free. This means that value never has to leave the Bitcoin network in order to be used as a medium of exchange which would cause BTC supply on exchanges to plummet. View quoted note →

Waiting on politicians to make announcements regarding your money is incredibly fiat - or, at best, crypto - minded. Have some self-respect.

I’m starting to think daily social media use is unhealthy for me.

GM. Officially #NostrOnly.

Disciplined fools have accomplished more than distracted geniuses ever have.

Value is something we place on things. It’s not something inherently within things.