A fiat denominated “crash” isn’t a crash. It’s a buy signal. View quoted note →

On a long enough timeline, groups of humans that somehow escape tyranny eventually recreate the same extractive system they sought to escape in the first place. Human incentives in a resource and energy competitive system always lead to the same destination: some getting something (or getting something accomplished) for nothing, at others’ expense. “Show me the incentives, and I’ll show you the outcome.” I believe the saying goes.

Five years ago when I went down the Bitcoin rabbit hole I was fortunate that there was a guy at work that already knew something about self custody. At least to the point where he was able to clue me in to signing devices. I ran into him a few weeks ago and was thrilled to finally have someone to talk to about Bitcoin. I am on an intellectual island up here when it comes to cypherpunk life and interest in finance and sound money. I asked him what he thought about the last five years of events surrounding Bitcoin, and he just said “Yeah I don’t really pay attention to it anymore. I have a guy that pretty much handles all that for me now.” 🤦‍♂️

Remember when upward mobility was a thing?