Ross Stevens dropped dimes at Microstrategy’s Bitcoin for Corporations Conference. Full video below. If you don’t have an hour to burn I summarized it in 5 minutes.
There is a misconception that Bitcoin is volatile and USD is stable. A British (Silver) Pound started at a 1:1 ratio to silver. Today it is 174:1. A pound of silver has not changed at all, a British Pound has lost nearly 100% of its value. Is Bitcoin changing or is the USD? Recognize the difference.
“We finally got a monetary system governed by rules not rulers”
Bitcoin transactions are not the…
This writing mirrors the exact chronological structure of Beyond Order offering reflection through a Bitcoin lens. This is part 3 of a 12-part series. If you read the book it adds a second dimension. All quotes credited to Jordan Peterson. All reflections inspired by Satoshi Nakamoto.
Those Damned Plates
“Do not pretend you are happy with something if you are not, and if a reasonable solution might, in principle, be negotiated. Have the damn fight.”
Governments assume the guise of the savior handing out trillions in stimulus money. When prices rise they deny. Don’t pretend to be happy with…
This writing mirrors the exact chronological structure of Beyond Order offering reflection through a Bitcoin lens. This is chapter 2 of 12. If you read the book it adds a second dimension. All quotes credited to Jordan Peterson. All reflections inspired by Satoshi Nakamoto.
Who Are You — And Who Could You Be?
“You are something that is becoming… Everyone has that sense… that there is more to them than they have yet allowed to be realized. That potential is often obscured by poor health, misfortune, and the general tragedies and mishaps of life.”
We’ve all suffered financial setbacks…
This work follows the chronological order of Beyond Order by Jordan Peterson. If you own the book it adds a second dimension. This writing reflects the shared values contained in the center of the Venn diagram between Bitcoin and Beyond Order. All quotes credited to Jordan Peterson. All reflections inspired by Satoshi Nakamoto.
Loneliness and Confusion
“People depend on constant communication with others to keep their minds organized. We all need to think to keep things straight, but we mostly think by talking.”
According to Bloomberg, by the end of 2020 we had $18T in negative yielding debt. The strange game theory of how bonds behave in an unhealthy environment trending toward if not beneath the zero bound: 0%. Therefore, it is easiest to exemplify by storytelling just above and below the zero bound. There is nothing normal about negative yielding bonds but it is nonetheless explainable. First let’s understand how bonds work.
If you buy a $1000 of a bond yielding 1% and the Fed lowers the rate to 0%, your bond at 1% is more valuable than the new 0%…
Doomscrolling places like /r/collapse brings an unexpected soothing relief that inches us, individually, towards nihilism. If the end is near, I need not lift a finger. Doomscrolling has a brother: fiction, the imagined, the make believe. A parallel reality where life is better. A welcome escape hatch. Trump supporters tried to turn back time, escaping to a whiter American era. Modern youths turn to comics, manga, and Instagram for a pleasant distraction. Both offer the release of responsibility because “there’s nothing I can do about it” “the situation is bigger than me”. Difficult times paired with expansive access to knowledge…
Asset categorization is normally a straightforward exercise: Tesla is a tech stock, gold is a precious metal, and US dollars are a currency. How would you categorize Bitcoin? A technology stock? A digital precious metal? A digital currency? All of the above? Bitcoin is difficult to place because an argument can be made for all of the above. And this why Bitcoin’s price, even for the most objective investor, varies wildly — valuation depends on how you classify it.
Life is all about being at the right place at the right time. Sometimes the bus leaves the station without you and your whole day is fucked. If you’re lucky, your plans remain intact and you simply catch the next ride. Life often feels like it conspires against us. Especially when we think we have it all figured out.
A good example is my reluctance to push into the stock market as COVID was spreading in early 2020. Logic screamed “stay away” as stocks plunged -20% in many cases. Reported revenues would inevitably get smashed leaving no way around recession…
It sounds like the words of madman. It sounds like sedition. But here is our reality: billionaires own the companies that create climate change yet those companies are negligibly responsible for environmental damage. These singularly wealthy individuals have the collective wealth of billions of people. The onus of reversing climate change requires their focus.
Each passing day carries fewer and fewer legal consequence. It is happening at all levels of society: the White House, the Treasury, banks, your local CVS, the police, and the list would flow like a mile long scroll. Collapse seems like an extreme term to describe life today, but after reading this from an immigrant from Sri Lanka who escaped collapse… I’m starting to believe it’s not a talking point. Rather, collapse has already arrived. The following is a series of cases where our societal fabric is tearing.
Thinking about a better way