btcschellingpt's avatar
btcschellingpt
btcschellingpt@primal.net
npub1nvfg...e7zd
Bitcoiner Rational optimist #AUStrich OpenSats Bitcoin Brisbane bitcoinbushbash@nostrplebs.com Honeybadger Noob Day Working on https://primal.net/EscapeHatch
Hey @Al’s Lacrosse .. .. call in a favour from @MartyBent and get him to show you how to setup receiving zaps on nostr .. and while you're at it, double down and call in one from @ODELL and get him to show you how to send zaps on nostr 🫂
GN Thankyou to my frens offering to safely store my seed words as the 🌀 approaches 🧡🤣 image
GM "I don't know where I'm going, but I know exactly how to get there" Boyd Varty image
GM #Austriches .. Big blow coming Going to be a bit wet and windy image
GN The thing about trade-offs .. If you haven't identified trade-off you are making, then you probably shouldn’t be taking what looks like a shortcut The goal is informed choices, where trade-offs are understood Understand the trade-offs → Own the consequences/outcome. image
Mark to market .. or not For those of you old enough to remember, that time after the GFC from 2007/2008 when house prices tanked were tough for many, dire for many and tragic for too many: jobs lost, income lost, homes lost, families torn asunder, suicides and misery .. An avoidable cyclone of financial fuckery wrought on the plebs .. What did the banks do? Well, they watched the property market like everyone else, and for everyone that owed them money .. they had the comfort of a security of a mortgage over their customers home .. Many who lost their jobs had to eventually sell their houses .. at a loss .. and in the worst case that sale didn't cover the outstanding mortgage 😬 .. some declared bankruptcy, some shouldered the debt .. tragic However .. for those who by hook or by crook (job or savings) continued to pay their monthly mortgage to the bank, the bank consequently gave zero fucks. They did NOT care that the EUR500k mortgage was now secured by a EUR300k property .. as long as those sweet monthly payments kept rolling in .. So this idea of "loss" (or gain for that matter), is only one that is remotely relevant at a time when you sell .. which is traditionally when the asset is repriced/revalued/"marked to market" Which brings us to debt: So if you hold debt, then as long as you can service it, no problem. If you're "over your skis", or your circumstances change (and you can't), or you're a leveraged degenerate, then margin calls on assets that ARE dynamically marked to market are going to plague your sleep Been thinking a lot about the *choice* of when security holders mark assets to market lately ;-)
GM #AUStriches .. Which of you talented ‘tards can make the govt support for Nostr official? 😜 image