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1.) Announcement!

I just published my second book this year, "Money Dethroned – A Journey through Ashes". The book details the many paper money failures of the 18th and 19th centuries, both known and lesser known.

https://amazon.com/dp/B08R3ZJQ1K/

This is a Bitcoin version of "masks don't work" --> "put on the masks, or else..".

Even if BTC sucks as money, now or in an uncertain future, it still may be the least costly medium for longer t's. When I hold BTC I don't bet on it becoming global money (hyperbitcoinization). Fernando works with Lightning iirc and is equally skeptical.

https://twitter.com/fnietom/status/1293790134886739968

Lord Grenville, having earlier supported irredeemable paper, changed his tune after seeing what the suspension of specie payments did to his countrymen:

I think the quality improvement is supposed to be, on average. You will still get a lot of shitty replies.

Now would be a good time for CSW to exploit the fatal flaw he discovered in SegWit.

If only less fit males hold BTC, does that mean holding BSV is a costly signal? 📉

The @17294 stirred the BTC hornets nest today by pointing out the high bribes needed to circumvent the breadlines. Made me feel nostalgic for the old days of the block size debate.

Great discussions as usual.

"Dicking around is better than suicide." BCH dicking around IS the suicide. When sinking in quicksand, Indiana Jones tries not to kick and fight - it just makes him sink faster.

The value of money increases with uncertainty. But the value of money has also to do with future productivity, which to some degree decreases with uncertainty when new factories are put on hold. The value of money is rather hard to think about.

“At the petition of the treasury board, it is ordained that paper money thus marked with the Imperial seal of the Ming shall have currency and be used in all respects as if it were copper money; whoever disobeys will have his head cut off.”

Early paper money in China was so "good for the people" that its issuers had to resort to death threats. The above was inscribed on each note.

Met up with an old friend for dinner. She is contemplating not starting a family due to global warming.

Is it just me, or is it getting crazier out there?

If you build Division of Labor with irredeemable paper, all it takes is one little spark and the construction may turn to ashes. And it just so happens that many of the current guardians of this construction are a bit too fascinated with fire.

Temporary war measure monies eventually became permanent.

https://twetch.app/t/5d13377eba9dce245acf72536bc93f3c7f395e0ba07d5c6a3c9f7db167677410
Some people in BTC and BSV are more or less the only ones in the space understanding that this is how good money works. If you are close to a black hole, you feelings on the matter of being pulled in are of little consequence.

If anything should be boosted, it's the blog post that Bylund refers to.

Everyone is valuable under division of labor. Everyone has a comparative advantage that benefits you. You don't even have to have a dog to benefit!

"Between the 5th Brumaire and the 30th Pluviose, Year IV..."

When the radicals in power mass produce paper money while quoting the brand new calendar of theirs, you know you should have packed the bags and left the country yesterday.

The discussion of Supreme Court expansion is instructive also for monetary thought. Institutions - this time the maximum of 9 judges, in place since 1869 - are subject to the whims of politicians. They treat the integrity of the money in the same way.

I assume total fees will keep rising, which is what incentives miners. No one ought to hodl as a goal in and of itself, it is simply the way to use BTC in the least costly manner, just like people can hold gold for long periods of time.

We are going to enter a situation akin to the Austrians that discarded Bitcoin because they didn't manage to square Bitcoin with the Regression Theorem. The years passed, and some of them realized that reality prompted them to re-check their assumptions.

I think this is one of the wrong memes that has taken root in BSV. Becoming global money is not the focal-point required, though it would be fantastic. Other focal points at work.

We are back to loitering. You dumping your trash in nature or on the streets makes little to no difference - there will be tons there if you do or if you don't.

Well, I think so. It helps prolong some rather unpleasant things, giving people more time to plan with resources they still own.

*prolong until they occur.

John Galt could quit the 20th Century Motor Company. You can't quit your 20th Century Motor Company because its dominion is all-reaching.

Yeah, it's a simple heuristic. But anyway, I'm not nagging people to go vote, everyone may do as they want of course. It's just, I rather enjoy resisting big government (and hope others do the same), especially if it's little to none sacrifice to do so.

And about which party to chose, just pick the one that promises lower taxes before the one that promises higher taxes. Will they keep the promise, who knows? But if only people wanting bigger government vote, that's what's going to happen quick.