Chapter 4: Stacking Sats Is For Everybody
Stack Sats Is For Everybody
I have tried writing another blog before this one. I was able to earn $10.00 for every person who clicked my link to buy bitcoin on Strike. I felt dirty accepting that fiat for telling people to KYC themselves into bitcoin. I had to think about the benefits vs. cost of funneling people into a KYC company. I decided it was not worth the tens of dollars I got for signing up to the KYC service. This is one of the reasons I like the value for value model.
I still like Strike. It's my favorite way to send fiat. I like it about twenty one million times better than Venmo and I love Jack Mallers, but something kept gnawing at me. Strike solves an important problem. Most Bitcoiners prefer to spend fiat than spend bitcoin.
This problem applies to all the fiat maxi chart scribblers on X/Twitter. They see bitcoin as an investment. They give their hard-earned fiat to a corporation in the hopes of obtaining more bullshit fiat bucks in the future. Investment bitcoin is en vogue in the bull markets, and the die hard fiat lovers spend countless hours reading about macro, stocking, and flowing. They get as excited as a teenager boy in a strip club at every new not your keys, not your bitcoin ETF announcement. Crypto Bros fit this category, but you rarely see them on nostr since they don't take the time to learn about public key cryptography.
Despite my tongue and cheek words about these folks, I started this blog for those people. My thesis is that they will need to learn how to use public key cryptography one day. All these centralized exchanges seem great now, but it's just a matter of time before the next FTX or Mt. Gox collapses. Sooner or later, the US government will come clean about unfunded liabilities. When that day comes, maybe ultra-rich Bitcoiners stacks won't be on the chopping block. Maybe the Weekend at Bernie political leaders won't try and levy a wealth tax. Maybe I'm just paranoid. Nevertheless, bitcoin is more than NGU technology. Bitcoin is freedom money when you are not shackled to the tentacles of the state.
Think for yourself.
Question authority.
Tune in.
Opt out.
₿itcoin Is For Everybody
To use bitcoin as freedom money, it must be done peer-to-peer. P2P bitcoin is for everybody. Bitcoin is for enemies. Cash is a human right. therefore bitcoin is a human right. These are not just memes. It's not just some platitude to tell no-coiners like "have fun staying poor." It's a philosophy.
Bitcoin is for teachers.
Bitcoin is for home schoolers.
Bitcoin is for Kanye West.
Bitcoin is for Jewish people.
Bitcoin is for sex workers.
Bitcoin is for nuns.
Bitcoin is for criminals.
Bitcoin is for people who waiting at red lights 3:00 a.m.
Bitcoin is for Uber drivers.
Bitcoin is for bus riders.
Bitcoin is for veterans.
Bitcoin is for hippies.
Bitcoin is for Black Lives Matter.
Bitcoin is for Tiki Torch holding white nationalists.
Bitcoin is for billionaires.
Bitcoin is for bums.
Bitcoin is for Democrats.
Bitcoin is for Republicans.
Bitcoin is for toilet traditionalists.
Bitcoin is for the transgendered. Bitcoin is for drug dealers.
Bitcoin is for pharmaceutical sales reps.
Bitcoin is for illegal alliens.
Bitcoin is for ICE officers.
Bitcoin is for the land of the free
Bitcoin is for half the world living in an authoritarian regime.
Bitcoin is for fat white supremisists.
Bitcoin is for Afgan women. Bitcoin is for Black Rock.
Bitcoin is for Occupy Wallstreet.
Bitcoin is for tax evaders.
Bitcoin is for capital gains tax payers.
Bitcoin is for Bukelle.
Bitcoin is for Snowden.
If bitcoin is for everybody, why does anybody need to know who everybody is? Why are some people given the authority to tell other people that bitcoin is not for them? Who the fuck are they? Who the fuck are you? And who the fuck am I to say bitcoin is not for them?
Stacking Sats Is For Everybody
Do criminals have the right to buy food? Do terrorists deserve the right to eat? Do vaccine mandate protesting truckers have the right to buy diesel to stay warm?
These may seem like rhetorical questions, but the answer is simple: Invariably yes. These people have the right to buy and sell stuff. If you don't believe me, I don't have time to explain it to you and GFY.
This section will not teach you how to sign up for a KYC service. I still use a couple bitcoin only kyc services to sell fiat for bitcoin on Robosats. This is actually kind of easy once you get the hang of it, but it requires you to have bitcoin to begin with. It also assumes you are not deemed persona non-grata by the government who's thumb you find yourself under. If you happen to find yourself in this circumstance because you are an purple haired, illegal trans-gendered truck driver--have no fear. Bitcoin is for you too. Are illegal trans-gendered truck drivers your enemy? Bitcoin is for you too.
Sell Fiat At A Bitcoin Meetup
Ask to sell a fiat for some bitcoin. I bet someone will be willing to part with some sats for some bullshit fiat. Gasoline is not for everybody, but even OG's occasionally need to buy fiat to pay for gas.
Bitcoin is peer-to-peer electronic cash. It is not an investment. You can't buy anything with VTSAX shares. You can only sell VTSAX for fiat, give the government their share, and transfer the rest to a bank, That's the basic anatomy of an investment. You give your digital bucks to someone else, because your digital bucks suck. Some people have to work their ass for digital bucks. Some people get to print digital bucks for free, but everybody's digital bucks buy less and stuff every year.
Cash is something you can use to buy stuff with. It offers final settlement. In other words, you can buy stuff without owing anybody anything afterwards. You can't buy an index fund without eventually owing someone else money. You can't buy a cup of coffee using a credit card without owing someone else something. If you use a debit card, don't be fooled. The bank owes the merchant fiat. It might take days for it to register on your bank statement, but it takes even longer for the merchant to get the fiat. When you keep digital bucks in a Wells Fargo savings account, the value is siphoned away like a gas thief. Therefore, digital bucks have no final settlement. Paper fiat suffers the same fate. Even if you keep your cash underneath the proverbial mattress, your purchasing power is not safe from confiscation. Taxation is theft, but inflation is cat burglary.
Bitcoin transactions require a fee since bitcoin mining is a service, but saving bitcoin does not cost you anything. Over a long enough time span-saving fiat will cost you everything. Imagine saving $1,000,000 cold hard cash in a time capsule. 100 years later, someone opens up this time capsule. Could that person buy a house with that cash?
No, because the value will be confiscated by governments and banks. Inflation is confiscation. Discreet, private bitcoin that only you know about is the only asset in the world that cannot be taken from you. This is not true of gold. Everyone who has stacked sats for more than a year knows the US government outlawed gold with executive order 6102, but this is not the only way gold's value can be diluted. For one thing, nobody knows how much gold is under the ground. Gold is hard to make, but we can expect the supply to increase by 2% per year. This is a tiny tax on the value of gold that confiscates your purchasing power over time. It's a fair tax since number 79 on the periodic table of element requires requires proof-of-work, but it's still inflation.
Bitcoin has no inflation. It's written in code, which is better than being written in stone. A single stone may break, but destroying 20,000 computers with the same mathmatical proof of the bitcoin supply is almost impossible to destroy without also destroying the entire world.
I don't know, but I know there will only be 21 million bitcoin. Contrary to the bullshit Greenpeace USA[paid by Ripple] says, you can't "change the code." Changing the code creates a fork of bitcoin like b-cash. If Greenpeace changed the code, they would create b-trash. Every Bitcoiner would now have b-trash.
Adversarial Thinking
When we wear our adversarial thinking caps, we can extrapolate this to other organizations like governments. Imagine planting a flag in Rugby, North Dakota and calling it Italy. They are Italian immigrants who left the country because the sports cars are boiling the oceans faster than cow farts. Italy, formally known as Rugby, North Dakota is the new ESG friendly Italy. Perhaps there's a small chance the country of Italy agrees to this change, and that's impossible to quantify, but you would have a better chance at doing that than changing the fact that there will never be 21 million bitcoin.
This means id the US government wants to change the bitcoin code. That would also just be another fork, giving Bitcoiners this new shitcoin. They could ban bitcoin, but it didn't work for beer. The only viable option is a 6102 style confiscation. If that's as simple as writing a letter to Coinbase, that's a security hole, okay a security black hole. It takes more resources to confiscate everyone's bitcoin, but I listened to the Mandibles audiobook. It's not that far-fetched if they have your home address and know every sat you ever stacked.
When you sell fiat for bitcoin at a meetup, only two people need to know about it. Imagine owning a million sats that nobody else knows about. They belong to you. If the government forks it, they give you a shitcoin, but they can't confiscate the bitcoin they don't know about. That is 21 quadrillion more times interesting than the price. That's freedom from confiscation.
Inflation is confiscation. Some governments confiscate more than others, but that's not the point. All governments are pretty good at confiscating value from cash. Most do not come into your home and just take it. This is not constitutional in the United States because of the Third amendment, but the value is stolen via inflation. Bitcoin no one else knows about is the only thing that can't be changed and bitcoin nobody else knows about is the only thing nobody can confiscate, as long ad you can keep a secret.
If a bitcoin seed is buried in the forest and no one is around to see it, can it be confiscated?
As I write this, hundreds of thousands of refugees are fleeing Venezuela. According to the headlines, it's an immigration crisis. Kaiser went on Strike today. The UAW is already on Strike, and I bet more unions will soon do the same, but I reject the way it's framed as a battle between the greedy and the needy. The hyperinflation of Latin America and striking of American workers are two sides of the same paper vapor money. Viewed through orange colored glasses, we can see the fiat crisis. Far too many people in the world have fallen victim to their governments monetary policy. Inflation is high all around the world. People are looking for political solutions. Bitcoin will be there, waiting.
When you sell that shitty paper money at a meetup, only two people need to know about it. You are not obliged to tell anyone. Should you pay your capital gains taxes? Of course you should voluntarily pay your capital gains tax, but that's the beauty of it--The bitcoin you have that nobody else knows about is only in your control. You can pay capital gains taxes or a wealth tax, or whatever they tell you to pay them, but nobody can force you to do those things. That is twenty one million times more interesting than the fiat price of bitcoin.
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