The day is coming when a single carrot, freshly observed, will trigger a revolution. ~Paul Cézanne
the palace of nowhere
- Tweets 14,829
- Following 1,688
- Followers 1,635
- Likes 22,871
With all due respect, if you compare Trumps words to the scene on the ground in Charlottesville, his words are incomprehensibly tone deaf.
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I saw a guy teaching bitcoin only today.
No toxicity.
No mob mimicry.
No performativity.
No self righteousness.
No maxi identity.
He just sat there.
Teaching bitcoin.
Like a psychopath.
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This rhetoric is straight out of the authoritarian playbook. He doesn't have a clue about resistance money. "Only I can protect you. Kiss the ring!" Many of you are willing to kiss more than that.
Trump: if they win this election, every one of you will be gone. They will be vicious, they will be ruthless. They will do things that you wouldn't believe. But right now, because of me, they're leaving you alone. So please say thank you.
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Some of you gave this guy bitcoin, the rest gave him the benefit of the doubt. Y'all got scammed.
BREAKING 🚨📰
Donald Trump launches @WorldLibertyFi
"We are embracing the future with #Crypto and leaving the slow and outdated big banks behind." - Trump
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Anything even remotely close to this won't be freedom, or a fix, or change, or revolution, or a fourth turning -- it will be an absolute cataclysm of human misery.
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Bitcoin is:
civil disobedience
an act of protest
a form of persuasion
noncooperation
a boycott
education
non-violent direct action.
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Your narrative doesn't match my experience. When I began to research Bitcoin (early '20), I found nobody credible saying it was a way to get rich quickly. Rather, many Bitcoiners cautioned BTC is only suitable as a long-term investment (10yrs+) and that 80% drawdowns are normal.
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Today, I criticized Cory for his association with Tucker Carlson. He blocked me. I don't particularly care about missing Cory's posts, but it speaks to a pattern I've seen w/ @Swan this past year. Patterns tell stories. I'll leave it to you to decide what that story means.
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If all bitcoin goes to cold storage, what is it's value? What is its use?
Many say they don't care about the fiat value of btc, but if the value of btc goes to $0, what's the point.
1 btc=1 btc implies btc has self-reflexive and independent value. It doesn't.
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This is not ideological:
greater bitcoin adoption-->more diversity of users
greater diversity of users-->more bitcoin adoption
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If Trump actually cares about bitcoin, why wasn't it mentioned on stage at the convention?
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Stablecoins are the digital asset creating the biggest changes in our financial system today. Phenomenal piece by @CaitlinLong_ describing how stablecoins may impact monetary policy and USD$ hegemony.
cato.org/cato-journal/spring…
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Svetski is treated like a serious thinker. Here he's explicitly saying, many problems are the downstream consequence of universal suffrage and the decline of monopolistic patriarchal power.
And not a one of these three men challenged him.
Now, imagine if the suffragettes saw this— Aleksandar Svetski in 2024 saying we shouldn't vote.
Now imagine being a bitcoin company and inviting him to conferences: it’s a complete lack of respect for everything women fought for.
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The scorn many bitcoiners have heaped on @michael_saylor & @RaoulGMI for their insights into the inevitable tradeoffs of mass adoption belie an immaturity. An echo chamber may strengthen HODLers in some ways, but can critically stall intellectual growth. btctimes.com/insight/michael…
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Do you see what direction this goes? This was absolutely predictable. It will get worse. Trump is the original shitcoin.
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#Bitcoin removes the monetary roots of inequality. That doesn’t fix everything. Systematic social and economic exclusion has taken many forms, so it naturally requires a variety of solutions. Bitcoin lends itself as one possible tool to those solutions. 1/4
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My IRA transfer to @Swan was botched. They simply dropped the ball and failed to follow through in a timely way. This delayed my transfer by wks and I missed out on $10k's of price accumulation. Rather than simply own their mistake, they were defensive. 👇
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This discussion of the difference between using fiat vs #Bitcoin for the unit of account or numeraire is a mind blowing illustration of the seismic shift that's upon us. @PrestonPysh and @stephanlivera do a great job making this super accessible.
stephanlivera.com/episode/18…
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We have a male mental health crisis b/c existing models of masculinity aren't adequate for today's world. This is a failure of men to turn boys into effective men. Lamenting the "vilification of masculinity" is a dodge of responsibility to create relevant models of masculinity.
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Just weeks later, $50k mysteriously appeared in my @Swan IRA acct. It seemed someone else's IRA transfer had been misrouted into my account. I immediately called this to their attention. A few days later, it was quietly transfered out of my acct.👇
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Bitcoin lives and dies in relationship to the rest of the world, it is interdependent with fiat and the traditional financial system.
To fix the world, it must also be of the world.
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For me, the way @Swan dodged taking responsibility for their error was a bigger problem than the lost potential gains, because it undermined my trust. After some teeth pulling, they owned their mistake. I thought I should give them a chance to renew my trust in them. 👇
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I've been a long supporter of @Swan. I liked their bitcoin-only education-centric style. I was impressed Swanies conducted themselves with integrity on X. I've defended Swan here. I've made numerous referrals. The first sign things aren't right at Swan came w/ my IRA transfer. 👇
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Wow, truly stunning to see di Marino this incurious. Both Danielle and Jim have too much certainty in their dismissiveness - it belies an opinion born of indoctrination, not critical inquiry.
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After extensive research, I concluded Bitcoin is an essential component in my strategy to preserve the purchasing power of my earnings. I'm self employed & work very hard. It is abundantly clear the monopoly monetary regime that controls our money will not preserve its value.
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This is nuts. Tchaikovsky was a gay man who lived his life in fear of persecution by the state. He took his own life by drinking cholera infested water. We have lost our way so badly. We need his luscious melodies more than ever.
NEWS: Cardiff Philharmonic replaces the programme of its upcoming all-Tchaikovsky concert, citing it as 'inappropriate at this time’.
classical-music.com/news/car…
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Bitcoiners have a strong allergy to scammers, but see Trump as an ally. 🙃
The courts will continue to be a critical safeguard for bitcoin against gov overreach. Donald Trump is openly hostile to the judiciary. Don't lose sight of the long plot arc. Single issue voting based on platitudes is for suckers.
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The Economist cockroach piece and the op-ed in FT today, both go to great pains to say, "All the terrible things the financial establishment have been saying about bitcoin for 15 years are true, but it's also okay for you to consider it investment-worthy."
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Bitcoiners dismissing all engagement with politics as just perpetuating the system, now simping for Trump - who is anti-bitcoin and whose campaign sold NFTs - is quite the thing to behold.
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There is no guarantee bitcoin will function as a life boat for you or the US gov. This truth seldom gets spoken in this space.
It might. I hope it will. But there's no guarantee.
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You've entirely missed the point. And this is exactly the pattern I describe in my thread. I'm sorry I hurt your feelings with my pointed criticism. It's puzzling though, you've got awfully thin skin for the amount of name calling you've done over the years.
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If you think this is partisan, you've lost the thread. If you make this partisan, you're only enabling autocracy.
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I don't read @EpsilonTheory to nod in agreement, I read because I almost always think about his pieces for days. It helps me clarify what's true for me.
Two weeks ago I wrote about the corrupt political response of China to coronavirus.
Last week I wrote about the corrupt political response of the World Health Organization.
This week I’m writing about the corrupt political response of the United States.
epsilontheory.com/the-fall-o…
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The prevalence of victim narratives among bitcoiners has always puzzled me. Any theories as to why it's so common?
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.@knutsvanholm's piece on this is pretty fantastic
citadel21.com/you-are-not-pr…
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Trumpian graft becoming associated with Bitcoin in the general public's mind is a big tail risk.
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Unpopular opinion: This cycle will reveal illiquid supply isn't as illiquid as the 'never sell' memer's would like to think.
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1st FT, now the Economist.
"With each boom-and-bust cycle, it becomes clearer crypto is not a bubble....Although bitcoin is a volatile asset, its price history looks more like a mountain range than a single peak."
drip, drip, drip
economist.com/finance-and-ec…
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Let me get this straight: I get to choose between an incentive structure that is 100% transparent and incorruptible or one that is determined by the academic whims of an elite financial priesthood of central bankers?
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We're not getting a god candle, we're getting the holy inclined plane. I know, it sounds lame, but you take what you get.
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I've never heard anyone offer a plausible explanation for how a tax on unrealized gains could be implemented. Gains taxed when? It's the living dead of stupid ideas - it keeps coming back. It's deserving of criticism, but not worth alarmism.
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I allow myself a brief moment of believing @LynAldenContact actually followed me before I block the bot. It's a nice moment.
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The truly amazing moment in this interview is when the interviewer corrects Ms. Johnson, clarifying that self custodying bitcoin is the real insurance, not holding an etf. Media figures are getting up to speed and beginning to do real bitcoin educational work. This is a bfd.
“One of the things that made me a believer is that someone told me ‘I keep 50% of my savings in #Bitcoin because if I say the wrong thing in my country, I could have my assets confiscated’," says Franklin Templeton President and CEO Jenny Johnson
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“[The Fed] is losing the narrative that we fixed the economy. They didn’t fix the economy, they fixed asset prices. Now, the devaluation of the dollar is fixing a higher cost of living on the people who can afford it the least.” @KeithMcCullough
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Monday morning: every pension in America watching WI, every insurer watching MassMutual, every endowment watching Emory, every corporation watching MSTR, and so forth. This isn't the even the beginning of institutional adoption, this is just the proof of concept.
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This is extraordinary: El Erian observing that yields have actually moved up since the middle east conflict escalated and he sees some treating bitcoin as a safe haven. It's one thing for bitcoiners to say this. El Erian is about as establishment as it gets. This is a bfd.
The long US treasury has always been seen as a flight to safety or quality. This isn’t so much the case now. #Bitcoin is slowly becoming the flight to safety.
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Methane CH4 interacts with ozone O3 and breaks down to CO2 and H2O (if I'm remembering correctly). Methane doesn't stick around as long as CO2, but is much larger, so has 25x the greenhouse effect while it's around. Someone please correct me if I'm misremembering.
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I've overcome addiction, run marathons, spent wks in silence practicing intensive meditation. Single parenting while running a small business is absolutely the hardest thing I've ever done, by far. It's profoundly humbling to constantly fall short. Without love, I couldn't.
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I agree, triggered is the wrong word. It's profound arrogance at play when you believe your assesment of value and utility is better suited to evaluate the allocation of scarce inputs rather than the wisdom of an open market.
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Imagine if you spent your life self-dealing and scamming people and then discovered crypto. They're like soulmates.
Trump promotes family’s new crypto platform, ‘The Defiant Ones’
cnbc.com/2024/08/22/trump-cr…
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Huh? Nothing happened to FTX. FTX reaped what it sowed. A public company has a very different level of transparency and accountability. I'm not saying Coinbase can't have problems, but the comparison is way off.
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My dad is dying. I'm sorting through the complexities of love and abuse. Logging in here briefly to read reductions like: Fiat causes war! I so wish healing the legacy of ill-will and violence could be so simple.
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Bitcoiners hold themselves to exceptional standards in many ways, but every time I bring up misogyny, I get push back like this.
Yes, misogyny is everywhere. But shouldn't we expect better of bitcoiners? And, if you care to listen, there are women saying it's uniquely bad here.
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What would happen to bitcoin if energy became free and abundant over a very short time period?
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This @johnkvallis interview with @FossGregfoss is absolute macro 🔥. Greg Foss' perspective on debt markets deserves a wide audience with bitcoiners.
podcasts.apple.com/fi/podcas…
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Bitcoiners are mostly one-issue voters who will turn out for Trump.
Yeah, not so much. 🔥👇
8/n Even stranger was that people who self-identified as "very liberal" or on a 10-point scale, located themselves at the far left, were the most likely to own bitcoin, relative to other political identities. Look at this. Look...
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An incredible, well-designed look at who owns bitcoin. In terms of political identity, the findings are surprising. The skew toward libertarian or conservative accts on Twitter is not representative of who owns bitcoin. Those put out by progressive/left bitcoiners can cry harder
6/n What we found was definitely our most shocking result. Like most everyone on this app, our critics in the media, academics who write about bitcoin, and almost all politicians, we thought bitcoin ownership would skew towards the political right, and towards libertarianism.
Wrong!
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There's definitely a point when it becomes counter productive. You can plant the seeds, but then you have to walk away, let grace take over.
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The greatest threat to bitcoin: seed oils.
How a cabal of salad dressing gargling globalist bankers engineered the break with the gold standard and the moral decline of the west. A 🧵
1/n
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Do you remember the maxis lining up with their performative outrage when Nat Brunell had the nerve to charge for her course content?
Donald Trump selling Bitcoin Sneakers after keynote speech at Bitcoin 2024 theblock.co/post/308565/dona…
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Nobody imagined bitcoin would be used in support of a sustainable energy future. Nobody imagined what Saylor is doing. Bitcoiners and critics share this in common - we have no idea what else is yet unimagined.
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Bitcoin is not a platform from which to shill partisan positions. If you're going to call yourself the 'Bitcoin Voter Project' then focus on voter education, registration, and mobilization, not on simping. Of course, partisans should absolutely leverage bitcoin as a tool.
President Trump stands with Bitcoin, and we need to stand with President Trump. Join the fight for cryptocurrency freedom.
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There's a huge opportunity to educate progressives and more traditional conservatives about the role of inflationary monetary policy in environmental degradation and income inequality. Both these groups seem to care about these 2 issues. Could be a powerful combination.
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Udi, if you are genuinely concerned, this is not the way to handle this. It's incredibly reckless and reflects really poorly on you.
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Ms. LaDuc's inability to comprehend the heterogeneity of bitcoiners & their motivations, & her insistence that only the state imprimatur grants moneyness, is the epitome of a mind steeped in centralization. As a result, her mind cannot grok bitcoin; she literally can't think it.
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There's a tremendous irony: bitcoiner's constantly wax poetic about sovereign individualism, but the culture you describe is driven by groupthink, mob enforcement, and star-bellied-Sneetchism. I agree, masculine insecurity is central to so much of this.
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The Tahini's story is more interesting than MSTR
It’s been 4 years since we made the move to a Bitcoin Standard. It has been one of the best if not the best business decision we’ve ever made. We haven’t sold a single Satoshi since, in fact we’ve been adding to our reserves every quarter at different rates. Make sure to measure your results in 4 year increments. It’s amazing how a restaurant business can outperform Warren Buffet and 98% of Hedge Funds over the last 4 years. Bitcoin is a cheat code for your family and business, don’t ignore it. Study Bitcoin ❤️
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This is not a small choice. Asking others isn't bad, but examine all the consequences for yourself, so you can take full responsibility for the choice and have complete conviction in your decision.
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When does the ACLU include access to open and uncensorable money as one of the civil liberties they defend?
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The danger: "Normie pre-coiners...will...hold up the 'scam' Bitcoin next to the 'scam' Trump and walk away from the whole thing." Trump has a long history as a scammer. His brand wrapped around Bitcoin is not worth the political advancement he 'promises'. bitcoinmagazine.com/culture/…
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PSA: Proposals to tax unrealized gains are pure political theater. Your alarm reads as naivety.
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When the Fed tries not to look desperate (e.g. "mid-cycle") but everyone knows it's really whatever it takes for as long as it takes.
The corporate credit fear gauge: As per @markets “On Friday, it dipped to 43.712 basis points, the lowest on record.” Welcome to the end of a risk-free year. As far as Corporate America’s balance sheet goes, the bigger the better. ht @pboockvar
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If you're indexing your T levels as evidence of your masculinity rather than the way you conduct your relationships as a man, you're not gonna make it.
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.@johnkvallis gets @PrestonPysh's very candid ideas about #Bitcoin in this interview:
"I’m seeing a risk in holding a whole lot of other things, and a lot less of a risk in being in bitcoin.”
A remarkable conversation.
podcasts.apple.com/us/podcas…
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I can criticize Trump and also readily acknowledge this.
Let’s be clear: the Biden Administration could have developed constructive #bitcoin mining policies, instead they tried to tax it out of existence.
Biden radically politicized what should have been a non-partisan issue.
cnb.cx/3Vnuw8T
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It turns out A Progressive's Case for Bitcoin is really well written. Math guy can do words!
The approachable style makes this a great intro for many, not just progressives. It's really a book for all who recognize the utility of bitcoin is beyond partisanship.
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.@KamalaHarris should make bitcoin v. crypto a wedge issue to peel away support for Trump
Strategy tip for @KamalaHarris:
Develop a bitcoin-centric digital assets policy based on:
> Policy to advance Bitcoin as freedom-promoting tech
> Regulation of crypto
Harris could draw a distinction b/w bitcoin and crypto, and link her campaign to bitcoin and Trump's to crypto.
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