“Thus, given enough time and popularity, every movie, every song, and every document will be available to the general public for free. The nature of information does not allow for another outcome. Hence the saying:

“In sum, the U.S. government has shown that — through the GFC, repo spike crisis in 2019 and pandemic crisis in 2020 — it is willing to do anything to keep interest rates down: start

“As detailed in Saifedean Ammous’s “The Fiat Standard,” in November 1914 the British government “issued the first war bond, aiming to raise 350 million pounds from private investors at an interest rate of 4.1% and

“Aspiring Republican politicians and conservative opinionators love talking in darkened tones about the malevolence of elites. And yet, for all the fingers wagged and pixels rendered, conservatives have largely ignored the most economically significant way

“If having 12 words in your head is illegal, something is terribly wrong with the law. If the police storm your building because you are finding or creating a random number in the privacy of

“Only liquid, flowing capital generates a return. Unlike a bank account, capital on Lightning is productive when it is mobile, not at rest. That’s why flow is so essential. The more capital flows, the more

“People tend to favor proposals that would benefit themselves and reject proposals that, at their own expense, would benefit others. If you were wealthy, you’d probably reject calls for higher taxes and more welfare programs.

“Now what’s that saying again. Just because you’re paranoid doesn’t mean they aren’t after you. It’s starting to smell like that. Just because Bitcoin’s most virtuous argument was presented – in if not bad-faith then

“The U.S. and its allies are now effectively backed into a series of corners. Can the U.S. attempt to ban Bitcoin and its transactions? It can try, but will fail. China has already tried to

“By taking away their printing presses, Bitcoin stops the creeping totalitarianism that weaponizes our own blood, sweat and tears against us. It stops governments’ escalating ability to control all person-to-person exchange, their efforts to build

“Bitcoin as a superior monetary good is more valuable than a better payment network . This leads us to another point as to why we believe bitcoin should be considered primarily as a monetary good

“That is not to say that Bitcoin will lead us to a pacifist utopia in which any attempt at violence suffers metaphysical intervention by the spirit of Satoshi. That money can grant power is clear

“And finally, given its asymmetric return distribution I believe It is more risky to have zero exposure to bitcoin than it is to have a 5% portfolio weight. If you are not long bitcoin, you

“General Motors, Ford, AT&T and GE have cumulative debt that is larger than the entire HY market. Downgrades of any one of these names likely imply a downgrade of the others. The forced selling would

“What is money? Why is it used? Which type of money is best? And why?” – Eric Yakes

Today we are diving into the foundational chapter of Eric Yakes’ book The 7th Property. What are

“This makes Bitcoin miners uniquely symbiotic with energy grids serving as “demand response” partners. If energy is ever in short supply, people get priority over Bitcoin miners. However whenever there is excess energy, it gets

“Money, in the ideal (which we’ll likely always only ever strive for, and not achieve), turns a portion of ‘our work, here and now’, into a portion of ‘everyone’s work, anywhere and forever’.” – John

“Sacrifice is thus a critical component of value, as it is the use of one’s own limited resources, as that against which all action is measured and justified.” – John Vallis

Why does it always