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>> No.59742653 [View]
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59742653

The midwits inability to grok bitcoin appears to be a function of their conception of humanity as individual organisms operating as tribes as opposed to the reality that humanity has evolved into a superorganism bound by voluntary exchange. The midwit viewed btc as a New Tribe hence his feelings that “bitshit has failed!” by the existing dominant tribe “moving in” to bitcoin. We can observe this reasoning directly in the xmr-maxi’s “muh circular economy” completely missing the obvious: we already have a circular economy: Economy.

However, Bitcoin is not a new tribe, but an advancement in monetary technology, Bitcoin has no purpose, it is a new thing, a trustless intangible ledger, and can be used for new things.

We can use btc for at least two priceless functions:
1) We can encode the price of money into btc via aggregate demand for “economic unit”, in doing so creating a Trustless Price Signal of Money, i.e. THE economic reference point. This massively increases the efficiency of economic calculation.

2) Trustless intangible Store of Value: SoVs pre-btc either had to be physical or trust-based, both are subject to seizure, this provided negative sum actors (NSAs) a HUGE systemic advantage as NSAs can specialize exclusively in force, with a trustless intangible SoV we can guarantee voluntary exchange in-the-limit as btc can be made unseizable (multi-sig, Shamir backup) and is infinitely more resistant to seizure by default.

Further, while not priceless, BTC will drain abstract economic demand from assets with functional use (gold, land etc) freeing them for productive use.

>> No.59727040 [View]
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59727040

>>59726968
Dull. Price is determined at the margins, bobo.

Demand for btc equals: g*f: (Global Liquidity)*(btc’s fraction of total global abstract economic demand)
Supply equals: s+h (subsidy)+(holders cashing out)
So net demand: (g*f)-(s+h)

s & h are both finite, s declines exponentially, (g*f) is unbounded and growing, what happens to price in-the-limit?

>> No.59689926 [View]
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59689926

Bitcoin will defeat all sh-tcoins

Let's start with XRP

Proof work > Proof of Stake
Decentralization > Centralization
Fully available ledger > Mysteriously missing ledger
Censorship resistant money > CBDCs
Node running available to plebs > Node running for
inside elite
Freedom from Central Banks > Beholden to Central
Banks

>> No.59639214 [View]
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59639214

>>59638524
I’m the chef, slavemind

>> No.59628587 [View]
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59628587

>>59628161
And I’m the chef.

>> No.59627847 [View]
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59627847

Eth is a shitcoin, unearned reward (premine, staking reward) breaks the game theory.

Money is commonly explained as a solution to the Coincidence of Wants, but why do we wish to trade in the first place? Why not take what you want by force? Because we’re “good people”, or bound by a statist fairytale “social contract”? No! Because trade (voluntary exchange) is positive sum. Money, then, is not Medium of Exchange, but a facilitator of voluntary exchange.

This is what John Pierpont alluded to when he opined “gold is money, all else is credit”, not that gold had any magic “moneyness” as the shiny rock fetishest believes, but that gold, being trustless (as trustless as anything could be in old JP’s time) could be trusted, while man could not. Nature provides a fairer game than man’s promises ever could.

Bitcoin goes beyond gold: fixed supply, transparent ledger, non-physical & weightless. Nature’s perfect game, not mere happenstance of natural properties, but fixed and defined through Her immutable mathematics. Not the use of a physical good for an abstraction, but the abstraction itself, the platonic ideal of Value made cryptographic flesh. Not a facilitator, but a guaranteer of voluntary positive sum exchange in-the-limit, protected from the diseased slaveminds and the parasitic oligarchs by an impervious firewall of voluntarity.

Statists don’t understand bitcoin, but they fear it. For good reason, as they are of the Adversity. They see the sword of Damocles above their heads, feel the noose tightening around their necks, and beseech their false god for “bitshit to go to zero!” or a comp’d shitcoin to usurp the King, all in a futile hope of prolonging their parasitism. Their prayers will go unanswered, their god is dead, only We, the superorganism Economy remain, and We are guarding all the doors and holding all the keys.

Shhhh, no tears little statist, only gravity now.

>> No.59615921 [View]
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59615921

The destination is certain, the path unknown.

Money is commonly explained as a solution to the Coincidence of Wants, but why do we wish to trade in the first place? Why not take what you want by force? Because we’re “good people”, or bound by a statist fairy tale “social contract”? No! Because trade (voluntary exchange) is positive sum. Money, then, is not Medium of Exchange, but a facilitator of voluntary exchange.

This is what John Pierpont alluded to when he opined “gold is money, all else is credit”, not that gold had any magic “moneyness” as the shiny rock fetishest believes, but that gold, being trustless (as trustless as anything could be in old JP’s time) could be trusted, while man could not. Nature provides a fairer game than man’s promises ever could.

Bitcoin goes beyond gold: fixed supply, transparent ledger, non-physical & weightless. Nature’s perfect game, not mere happenstance of natural scarcity, but fixed through Her immutable mathematics. Not the use of a physical good for an abstraction, but the abstraction itself, the platonic ideal of Value made cryptographic flesh. Not a facilitator, but a guaranteer of voluntary positive sum exchange, protected from the diseased slaveminds and the parasitic oligarchs by an impervious firewall of voluntarity.

Statists don’t understand bitcoin, but they fear it. For good reason, as they are of the Adversity. They see the sword of Damocles above their heads, feel the noose tightening around their necks, and beseech their false god for “bitshit to go to zero!” or a comp’d shitcoin to usurp the King, all in a futile hope of prolonging their parasitism. Their prayers will go unanswered, their god is dead, only We, the superorganism Economy remain, and We are guarding all the doors and holding all the keys.

Shhhh, no tears little statist, only gravity now.

>> No.59613872 [View]
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59613872

Money is commonly explained as a solution to the coincidence of wants, but why do we wish to trade in the first place? Why not take what you want by force? Because we’re “good people”, or bound by a statist fairy tale “social contract”? No! Because trade (voluntary exchange) is positive sum. Money, then, is not a medium of exchange, but a facilitator of voluntary exchange.

This is what John Pierpont alluded to when he opined “gold is money, all else is credit”, not that gold had any magic “moneyness” as the shiny rock fetishest believes, but that gold, being trustless (as trustless as anything could be in old JP’s time) could be trusted, while man could not. Nature provides a fairer game than man’s promises ever could.

Bitcoin goes beyond gold, a mathematically fair game, not the use of a physical good for an abstraction, but the abstraction itself, the platonic ideal of Value made cryptographic flesh. Not a mere facilitator, but a guaranteer of voluntary positive sum exchange, protected from the diseased slaveminds and the parasitic oligarchs by an impervious firewall of voluntarity.

Statists don’t understand bitcoin, but they fear it. For good reason, as they are of the Adversity. They see the sword of Damocles above their heads, feel the noose tightening around their necks, and beseech their false god for “bitshit to go to zero!” or a comp’d shitcoin to usurp the King, all in a futile hope of prolonging their parasitism. Their prayers will go unanswered, their god is dead, only We, the superorganism Economy remain, and We are guarding all the doors and holding all the keys.

Shhhh, no tears little statist, only gravity now.

>> No.59609032 [View]
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59609032

>>59607431
>>59607295
>i-its not centralized, its jus a 100% premine with a central authority that controls the network!
>muh ad verecundian!
Pathetic. You understand neither the finest sliver of the game theory nor economic law that powers the juggernaut that is bitcoin.

>> No.59593156 [View]
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59593156

>>59592465
>>59592260
>>59590881
Hello mon petit crétin! Forever, the humiliation shall harry you foreeeeever

>>59590259
>>59590290

>> No.59544824 [View]
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59544824

Correct. It’s worth Everything.

Trustless fixed unit is so desirable because the only way to transfer value temporally is to hold assets that will have demand in the future. Increasing supply is equivalent to decreasing demand so being constrained in supply is necessary. To transfer value into the future I therefore want two things: constrained supply (preferentially fixed) & network of use as a constrained supply asset. I want these things because I know that the future will also want these things, I want the largest fixed unit of account as it will be in demand in the future, I want BTC. BTC = Value.

>n-no use except number go up!
Money evolved to facilitate trade (voluntary exchange), this is vital as voluntary exchange is positive sum, it is this positive externality of voluntary exchange, not some statist fairytale “social contract”, that binds Us together into the mutually beneficial superorganism that blankets the earth like a planetary slime mold. A trustless fixed unit can only be acquired through voluntary exchange so forces positive sum gaming in-the-limit. Further, a trustless fixed unit can be encoded (via aggregate demand for “fixed unit”) with the price of money, providing a incorruptible price signal of money, the value of which is beyond imagination as an incorruptible price signal of money massively increases the efficiency of economic calculation.

>> No.59541764 [View]
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59541764

BTC is a simple computer network game where people compete to compute a hash, with the reward, a unit of the game, being transferable within the game. Nothing more, nothing less.

The novelty lies in the autonomous, trustless, decentralized nature of the game and its rules, which renders the game-unit a fixed unit of account, the world's first.

Fixed unit of account is desirable because the only way to transfer value temporally is to hold assets that will have demand in the future. Increasing supply is equivalent to decreasing demand so being constrained in supply is necessary. To transfer value into the future I therefore want two things: constrained supply (preferentially fixed) & network of use as a constrained supply asset. I want these things because I know that the future will also want these things, I want the largest fixed unit of account as it will be in demand in the future, I want BTC. BTC = Value.

>> No.59536335 [View]
File: 1.52 MB, 5000x5000, pp btc.png [View same] [iqdb] [saucenao] [google]
59536335

>>59536288
>>59536044
>>59533988
$1,000,000 confirmed, LFG.

>> No.59492565 [View]
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59492565

Unit of Account is the systemic function of money, it is this function that enables economic calculation, it is this function that enforces the game theory of voluntary exchange and frees us from the hobbesian war of all-against-all. A fixed unit of account greatly simplifies economic calculation as price carries information, a unit of account is to a fixed unit of account as a conductor is to a superconductor.

>> No.59490571 [View]
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59490571

>>59490408
False. To transfer value temporally one only needs to hold assets that will have demand in the future. Increasing supply is equivalent to decreasing demand so being constrained in supply is necessary. To transfer value into the future I therefore want two things: constrained supply (preferentially fixed) & network of use as a constrained supply asset. I want these things because I know that the future will also want these things, I want the largest fixed unit of account as it will be in demand in the future, I want BTC. BTC = Value.

>> No.59484288 [View]
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59484288

To understand money, we must understand why we trade: because voluntary exchange is positive sum. Money is therefore “that which facilitates trade” or more explicitly “that which facilitates positive sum gaming”, and in understanding this systemic function of money we understand the value of btc, as a trustless fixed unit can only be acquired through voluntary exchange, btc guarantees positive sum gaming in-the-limit. Hence positive sum actors are behooved to acquire btc and in doing so drive btc to infinity in-the-limit.

>> No.59483842 [View]
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59483842

1) Price carries information, the core of money is economic signaling.

2) All trust based monies will be corrupted, minor corruptions grant great wealth to the corruptor encouraging further corruption, and will stay corrupted as those in control of money can now rig the tally board.

3) Corruption of money is negative sum. When you corrupt money you don't just "get wealth", you fuck up the signaling creating a far less productive & prosperous whole.

4) Wealth is Power. Money is a claim on resources, wealth grants control over resources. They are not "powerful & wealthy" they have the "power of wealth"

5) If you aren't holding BTC you are short BTC.

6) Corruptors of money will not see the value of fixing money as they benefit from its corruption.

7) BTC is perfect money, a trustless fixed unit of account. As Szabo notes, trusted third parties are a security hole too large to leave open in money. Using someone "real trustworthy" to guard money isn't a fix, the problem is the TTP, if you remove trust from money it can't be corrupted.

To understand money, we must understand why we trade: because voluntary exchange is positive sum. Money is therefore “that which facilitates trade” or more explicitly “that which facilitates positive sum gaming”, and in understanding this systemic function of money we understand the value of btc, as a trustless fixed unit can only be acquired through voluntary exchange, btc guarantees positive sum gaming in-the-limit. BTC therefore goes up because it is more useful to positive sum actors as sole denominator, BTC going up benefits all positive sum actors so encourages it's acquisition, creating a positive feedback loop that will drive BTC to sole denominator in-the-limit.

>> No.59483137 [View]
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59483137

To understand money, we must understand why we trade: because voluntary exchange is positive sum. Money is therefore “that which facilitates trade” or more explicitly “that which facilitates positive sum gaming”, and in understanding the systemic function of money we understand the value of btc, as a trustless fixed unit can only be acquired through voluntary exchange, btc guarantees positive sum gaming in-the-limit.

>> No.59481874 [View]
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59481874

>>59481647
Not wasting, using to generate a trustless fixed unit of account: perfect money.

Unit of account, money-as-tally-board, is the systemic function of money, this is a vital economic function as without the signaling of money we could never autonomously organize into the mutually beneficial superorganism that blankets the earth like a planetary slime mold.

All monies before BTC were trust-based. Yes, even gold, as it's physical nature requires centralization and abstraction to be used as unit of account. As Szabo notes, trusted third parties are a security hole too large to leave open in money, using someone "real trustworthy" isn't a fix, the problem is the TTP, if you remove trust from money it can't be corrupted.

Trust based money will always be corrupted because it's too good a score, it's the best place to parasite, and once corrupted the corruption will spread as you're now rewarding corruption. This process is hugely negative sum as you're fucking up the signaling of money. The world is falling into BTC as it proves a truer economic signal, BTC will continue to reward adopters as that is what the positive externality of trustless money yields.

>> No.59478221 [View]
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59478221

>statist slavemind can’t into trustless money
Sad.

1) Price carries information, the core of money is economic signaling.

2) All trust based monies will be corrupted, minor corruptions grant great wealth to the corruptor encouraging further corruption, and will stay corrupted as those in control of money can now rig the tally board.

3) Corruption of money is negative sum. When you corrupt money you don't just "get wealth", you fuck up the signaling creating a far less productive & prosperous whole.

4) Wealth is Power. Money is a claim on resources, wealth grants control over resources. They are not "powerful & wealthy" they have the "power of wealth"

5) If you aren't holding BTC you are short BTC.

6) Corruptors of money will not see the value of fixing money as they benefit from its corruption.

7) BTC is perfect money, a trustless fixed unit of account. As Szabo notes, trusted third parties are a security hole too large to leave open in money. Using someone "real trustworthy" to guard money isn't a fix, the problem is the TTP, if you remove trust from money it can't be corrupted. BTC goes up because it is more useful to positive sum actors as sole denominator, BTC going up benefits all positive sum actors so encourages it's acquisition, creating a positive feedback loop that will drive BTC to sole denominator in-the-limit.

>> No.59477166 [View]
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59477166

There has been talk of continuous downward pressure on MSTR's price from the ATM. Putting aside how much volume the ATM sales actually represent, MSTR would not be able to conduct a similarly sized ATM without first amending their Certificate of Incorporation ("COI"), which requires shareholder approval.

To expand on my post below, I want to explain how this is likely to play out and why I think there will be no ATM in place for a period of time.

A few approximate numbers:

330M - number of Class A shares authorized for issuance under the COI

279M - number of assumed diluted shares outstanding (this is the number of shares that would be outstanding if all notes converted; all options were exercised; and Saylor's Class B shares converted to Class A. MSTR always needs to have enough Class A shares available for issuance to satisfy these awards.)

19M - number of additional shares that will be issued if MSTR sells the balance of the ATM ($7.65B) at $400/share (if they sell at a higher price, the number of additional shares issued goes down)

299M - number of assumed diluted shares outstanding after the ATM is exhausted

31M - number of shares available for issuance under the COI after the ATM is exhausted.

As you can see from the numbers above, following the ATM, MSTR will have somewhere around 31M shares available for issuance under the COI (more if they sell shares above $400/share). MSTR will very likely use these remaining shares to issue additional convertible notes.

(As an aside, the COI also authorizes 5M shares of Preferred Stock which Saylor has discussed as a potential target market.)

So how do they increase the number of authorized shares?

MSTR will generally need to obtain majority shareholder approval to amend their COI to increase the number of authorized shares. (Less than majority approval is possible if they have quorum at a meeting, but that's a somewhat irrelevant detail here.)

>> No.59459108 [View]
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59459108

What are you buying on this generational dip?

>> No.59443772 [View]
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59443772

>>59443369
1 BTC = 1/21m of BTC, forever. Realize how revolutionary that is, a trustless, fixed, autonomous, decentralized unit. That is what we've always wanted from money, it's why gold was used, because the natural properties of gold create an approximation of a unit. But gold isn't fixed in supply and is only low trust, and even then only low trust in physical form. As economies became more complicated gold needed to be abstracted rendering gold entirely trust-based, opening the door to corruption and the current sorry state of money.

What we want from money has always been the unit, by having a unit of account we reduce the number of prices from n^n to n. We cannot engage in complex economic calculation without a unit, but the units we've been forced to use out of necessity do not provide a clean economic signal, with a trustless fixed unit of account the efficiency of economic calculation is increased massively. BTC will continue to reward adopters as that is what the positive externality of trustless money yields.

>> No.59439831 [View]
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59439831

BTC is a simple computer network game where people compete to compute a hash, with the reward, a unit of the game, being transferable within the game. Nothing more, nothing less.

The novelty lies in the autonomous, trustless, decentralized nature of the game and its rules, which renders the game-unit the world's first fixed unit of account.

Unit of account is the systemic function of money, it is this function that enables economic calculation, it is this function that enforces the game theory of voluntary exchange and frees us from the hobbesian war of all-against-all. A fixed unit of account greatly simplifies economic calculation as price carries information, a unit of account is to a fixed unit of account as a conductor is to a superconductor.

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