Message from church today. Jeremiah 29:4-14 1. Build houses and businesses. 2. Marry, multiply and increase in numbers. 3. Pray for and build the city where you are. 4. Keep your eyes on God and learn to discern false prophets. 5. Don’t lose hope, since God is in control and wants the best for you.

This was a good speech. I can only hope Europe turns around from their national suicide.

Agree that people are way to certain about what will happen in the future. Some humility would be in order. "Life is uncertain, the future unknown. This is neither good nor bad. It just is, like gravity. Yet the task remains: how to master our own fate, even so." — Jim Collins & Mortin Hanson

Fountain

THE Bitcoin Podcast • The Biggest Threat to Bitcoin | Jimmy Song • Watch on Fountain

What's the biggest threat to Bitcoin? Is it Quantum? Developers? BIP110? Governments? Or something else entirely… In this episode, I sit down wi...

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Looking forward too the Umbrel interview https://fountain.fm/episode/CiSK0Wtnn08yNQYXwvKO View quoted note →

Scarcity is only a multiplier for resources that already have value. Therefore a resource without value that is scarce is like multiplying zero with any number, which will still result in zero value. Bitcoin has value because it is money and not because it is scarce. Scarcity is the multiplier that makes the money, bitcoin, more valuable. A randomly generated, but very unique, image is not valuable because it it is the only NFT that looks that this and therefore has the scarcity of one. It should first be valuable irrelevant of scarcity in order to be valuable at all. Not all unique paintings painted by artist have the same value, but they all have the same scarcity of one. View article →

Scarcity can make a resource with value more valuable, but scarcity itself does not make something valuable by itself. It first has to have other characteristics that makes it valuable to users. Scarcity is like a value multiplier. If you have something with zero value, scarcity will not increase its value. Bitcoin is valuable because it is money and being money that is scarce just multiplies its value. NFTs that are not valuable will not magically gain value due to its scarcity. Let us assume there is a factory that can either build a sedan for transporting people, or trucks, for transporting goods. In order to make the vehicle, the factory workers as a scarce resource will be utilized and many scarce materials such as steel, plastics and petroleum products are also consumed. In this factory each worker gets to decide if they are building a sedan or a truck. The end product will neither be a sedan or truck, since each worker can choose to use either sedan or truck body parts. It will be a one-of-a-kind vehicle, thus scarce, made with very scarce and valuable resources. But since it is not fit for either transporting people or goods it will have no value to either groups. The fact that it scarce will have no effect on its value. This factory that randomly slaps body parts together and produces neither a sedan or a car is an example of NFT creation. Each NFT is unique and due to randomness some are more scarce. But scarcity can only make something of value more valuable. In the absence of any other characteristic it will still be of no value. Now imagine a second factory where the founder decided that he wants to take on the evil truck cartel and that they will only produce trucks. People love the trucks and the trucks have become valuable. The fact that these trucks are scarce just makes them more valuable. This factory is an example of Bitcoin. The fact that it is money is what makes it valuable and the that only 21 million Bitcoin will ever be produced just multiplies its value due to this scarcity.

Texas is just dominating growth.

The roof is leaking and I have few things around the house that needs repair. But I just turn a blind eye, since I am not selling my hard earned Bitcoin at this discount.