Money wise

Money wisdom

A stablecoin is a type of cryptocurrency that is designed to have a stable value, typically by being pegged to a stable asset such as a fiat currency (like the US dollar), precious metals, or other cryptocurrencies. The main goal of stablecoins is to reduce volatility compared to unpegged cryptocurrencies like Bitcoin or Ethereum.

There are several mechanisms by which stablecoins maintain their stability:

1. Fiat-Collateralized Stablecoins: These stablecoins are backed by reserves of a fiat currency. For every unit of the stablecoin issued, a corresponding unit of the fiat currency is held in reserve. Examples include USDC and Tether (USDT), which claim to have a dollar in reserve for each coin issued.
2. Crypto-Collateralized Stablecoins: These are backed by other cryptocurrencies but maintain stability through over-collateralization. This means they hold a larger amount of the reserve cryptocurrency than the stablecoins issued, to account for the volatility of the backing asset. MakerDAO’s DAI is an example, typically over-collateralized by a basket of other crypto assets.
3. Algorithmic Stablecoins: Instead of using reserves, these stablecoins use algorithms to control the supply of the stablecoin, expanding or contracting it in response to changes in demand to maintain a peg to a stable asset. Examples include Basis, which was designed to adjust its supply in response to market conditions.

Stablecoins can be used for everyday transactions, providing a less volatile means of exchange in the digital currency space. They are also popular in the cryptocurrency trading community, allowing traders to move funds with relative stability in fast-moving markets.

Benefits over owning US dollars in a checking account

Stablecoins offer several benefits over traditional U.S. dollars held in a checking account, particularly in contexts involving digital transactions and global finance:

1. Transaction Speed: Transactions using stablecoins typically process much faster than traditional bank transactions. This is particularly advantageous for international transfers, which can take several days when using traditional banking systems.
2. Lower Fees: Stablecoins can be transferred at a lower cost compared to traditional banking systems, especially for cross-border transactions. Banks often charge hefty fees for international wire transfers, whereas stablecoin transactions may have minimal or no fees, depending on the network used.
3. Accessibility: Stablecoins are accessible to anyone with an internet connection, providing a financial tool for people in underbanked or unbanked regions of the world. This increases financial inclusion by allowing more people to participate in the global economy.
4. Decentralization: Unlike funds in a traditional bank, which are controlled by the bank and subject to its policies and economic health, stablecoins operate on decentralized networks. This can offer users more control over their own money, depending on the stablecoin and the underlying technology.
5. Programmability: The digital nature of stablecoins allows for programmability. This means they can be integrated into smart contracts and other automated financial applications, enabling complex financial transactions that are automatically executed under certain conditions.
6. Transparency: Blockchain technology, which underpins many stablecoins, offers greater transparency of transactions. Every transaction is recorded on a public ledger, reducing the risk of fraud and corruption.
7. Stability: While cryptocurrencies are known for their volatility, stablecoins are designed to be stable as they are pegged to fiat currencies like the U.S. dollar. This makes them a safer choice for people who wish to avoid the price fluctuations associated with typical cryptocurrencies.

These benefits make stablecoins a compelling alternative for various applications, from everyday transactions to complex financial contracts. However, it’s also important to be aware of the risks, including regulatory uncertainty and the dependability of the underlying collateral, especially with privately issued stablecoins.

Don’t put fucking ads on it?.??

A podcast *WITHOUT* ads?

Application of Bitcoin ,, not technical.

Classic, classic weight lifting

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Replace or complement?

Currency is an application of money ***

Everything is an application of money

Money as base layer?

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Think classic

Think the Classics

Big ideas

Make $5B?

Wait 90 days

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Wealth is hierarchy

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Bitcoin tattoo???

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Courageous with clarity

Bonds are broken

Wealth for the sake of what?

Wealth … well?

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from Hellenistic Greek παροικία (paroikía, “stay in a foreign land”), later “community, diocese”, from Ancient Greek πάροικος (pároikos, “neighbouring, neighbour”), from παρα- (para-) + οἶκος (oîkos, “house”).

Settle

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The ducat

Barbarism and destruction?

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Nonviolent defense is a bad strategy

Would Achilles “turn the other cheek”?

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The right to defend, the right to attack the bad guys?

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Attacking before an attack will happen?

Self attack?

Time and space

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Things which don’t make sense

.. America has debt 34T, China has 10T debt, Korea 1T debt …. how is this possible

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Mental hygiene

Money Hygiene?

Poor people

Poor people drive Teslas, have iPhone Pros?

Rich people hold & own bitcoin

Rich people buy Bitcoin?

Abandon silver standard?

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USD to be backed by Bitcoin?

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Foreign hard money

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Batteries don’t hold charge

Dematerialize **

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Insulation

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When is digital good, when is digital bad? 

It is all just one stream

Maximum strength minimalism

Leica MP is the only Leica camera worth having?

Parochial

from Hellenistic Greek παροικία (paroikía, “stay in a foreign land”), later “community, diocese”, from Ancient Greek πάροικος (pároikos, “neighbouring, neighbour”), from παρα- (para-) + οἶκος (oîkos, “house”).

Settle

.

The ducat

Barbarism and destruction?

.

Nonviolent defense is a bad strategy

Would Achilles “turn the other cheek”?

.

The right to defend, the right to attack the bad guys?

.

Attacking before an attack will happen?

Self attack?

Time and space

.

Things which don’t make sense

.. America has debt 34T, China has 10T debt, Korea 1T debt …. how is this possible

.

Mental hygiene

Money Hygiene?

Poor people

Poor people drive Teslas, have iPhone Pros?

Rich people hold & own bitcoin

Rich people buy Bitcoin?

Abandon silver standard?

.

USD to be backed by Bitcoin?

.

Foreign hard money

.
Batteries don’t hold charge

Dematerialize **

.

Insulation

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When is digital good, when is digital bad? 

“Coin clipping”

Poor “investments”?

What are good stores of value

Nadir

Survive 1,123 years

solidus … longest serving sound currency in history

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Monetary decline, societal decline?

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Where else can you go?

Salability of gold over time

Store of value

Storing energy, storing heat?

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Serfs, feudal lords … modern day renter and landlord?

Making a more durable body?

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Tax & inflation is the enemies

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Renting is smart:

When inflation goes up and you’re paying a fixed rent, rent control … you’re making a “profit”?

–> note the problem with owning property. Your property value goes up, but unless the value of it is going up 25% year over year, you’re just stagnant at best? Probably bleeding and losing money.

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Future predictions?

1. The collapse of the university institution?

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Digital serfs, digital serfdom?

New digital slaves

Do you want your kid to be a slave?

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Filters

1.5% growth rate of gold

How many Satoshis in a bitcoin

There are 100,000,000 satoshis in one bitcoin. Each satoshi is the smallest unit of the bitcoin cryptocurrency, named after its pseudonymous creator, Satoshi Nakamoto.

Sats

100,000,000 satoshis in one bitcoin

SATOSHI is the new USD?

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$100,000,000 sats in $1B

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Think Satoshis?

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Indestructible?

Nobody wants silver ***

“Not all that glitters is gold”

Wealth is a mental thing?

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Soundness of money

Why money and money philosophy is so critical

Money is the only thing which drives the world around — Heraclitus?

It underpins Almost all of human existence

Small and valuable

Combined into chain, necklaces, bracelets

Gold can be remelted, remolded, etc.

16th century

Easy money?

Slave beads

More valuable,,, harder to find ..

Stock to flow value

Uniformity

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Seasteading?

Salt.. keep for long durations, easily divided and grouped.

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Why do humans think in round numbers

Pecuniary– pecus. Cattle.

Peku– cattle.
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Buy cheaply?

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Buy used

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Weight lifting plates … high cost?

Counterfeit … purity of money

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Gold standard backed by gold

Storing wealth vs money for living expenses –> food?

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Durability is prime

Durable Body

Increase productivity

Sail further

Stretch duration

Capital accumulation

Make superior products

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The philosophy of money

Rai stones of the yap people

Not native to Yap

Limestone from neighboring islands

Beauty and rarity of stones .. desirable and venerable

Procure is difficult

Everyone can see in prominent location

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Centuries, Millenia

Stones never moved

Salability across space … payment anywhere on island

Different sizes

High cost of acquiring new stones
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Not of value because gathered too easily

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Glassmaking was expensive beads.

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I think the truly transformative thing about Bitcoin is the notion of fractional ownership … (.3 of a Bitcoin)

The hard thing — we always think in round numbers? 1 Ferrari, $1M, 1 hundred dollar bill, one $1 dollar bill, one good — in material goods. Or 1 ounce of gold, or one bar of gold. Or one property, one house, one property. In individual bedrooms. We can have 1, 2, or 3 bedrooms … not .7 bedrooms or 1.3 bedrooms.

We have a hard time thinking in fractions.

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Overnight… our money is now worth 25% less?

25% inflation?

$16 to $20… what percentage inflation

To find the percentage increase from $16 to $20, you can use the formula for percentage change:

[
\text{Percentage Increase} = \left( \frac{\text{New Value} – \text{Original Value}}{\text{Original Value}} \right) \times 100\%
]

Substituting the values:

[
\text{Percentage Increase} = \left( \frac{20 – 16}{16} \right) \times 100\% = \left( \frac{4}{16} \right) \times 100\% = 0.25 \times 100\% = 25\%
]

So, the inflation from $16 to $20 is 25%.

Currency is losing 15% of its purchasing power year over year?

99% of assets into bitcoin, 1% into operating cash?

How to move economic value across time and space

Indirect exchange

What goods do you want to acquire?

“How many bitcoins do you own bro?”

The new digital dick measuring contest?

I think the critical flaw is that we are always comparing ourselves to other people on the Internet or whatever. However I think it is much better and more productive to just think about yourself and comparison to real life people you know in the flesh. 

$16->>$20 dollars USD inflation???

Run as hard as you can and go backwards?

Create your own endowment

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I don’t even need to flex no more! ***

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Currency vs asset (gold, bonds, property, real estate–> store of value )