Entrepreneur, Tech Leader, Author of The Price of Tomorrow - Why Deflation Is the Key to an Abundant Future, GP @EgoDeathCapital
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2025-01-16T02:11:10Z Event JSON
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Last Notes npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Incredible trip to El Salvador to meet Bukele and see for myself what has changed since last time I was there. I think most that follow me, know where I stand on #bitcoin. That, as long as it stays decentralized and secure (which means it must be used as a medium of exchange) it is IMPOSING the first global free market that has ever existed. A competitive, yet cooperative protocol and network that forces abundance broadly. We are both the map and territory - our actions within it, and aligned to it, strengthen and protect Bitcoin, bringing more people to it and they each, in turn grow in their own understanding - which in turn strengthens it further. We are bitcoin, we are Satoshi. Each node (us) of sovereignty adding our voice, time, energy into something that changes the course of history. Because that map of “what will be, or “what already is” (as long as it remains decentralized and secure) has never existed before, our minds have a hard time with it. So instead, most revert to measuring #bitcoin from within the system they have always known. This leads to most of the fights within bitcoin. People far deeper down the rabbit hole, versus those just entering or choosing to remain trapped (and not being able to yet see the bigger picture) You can imagine - that change would be chaotic because the change……is the change within each of us. All 8 billion of us, and we often can’t see our own hypocrisy, the lies we tell ourselves. Etc etc. In addition, with over 3000 years of us living in a zero sum game - where someone else had to lose for us to win. So for many, it would seem normal to play by the rules of the old game. This is why I went to El Salvador. I went to meet the President and see for myself who he was and what choices he might make along the way. Ie - how deep was he down the rabbit hole? Did he see El Salvador and himself as part of system change to a global free market that would permeate around the world - or would he be a pawn and be captured in a game that created imperialism 3.0? It was a very deep discussion…..lasting almost 2.5 hours. I came away convinced that he gets it. Moreover, he might be the most impressive leader of a country I have ever seen. Said to me, more people in El Salvador need to be in self custody, more need to use it as a currency, not in stablecoin but natively on lightning, more in non custodial. He understands the larger forces at play here. El Salvador is still Bitcoin country, but is still early. Having a nation with security is a big deal. 50 years of poverty, gangs, wars, fear in a society doesn’t change overnight. (All of that caused by broken money and psyops) It takes time to rebuild trust. I was last here the day after all the gang violence (coincidentally starting after introducing Bitcoin as legal tender) Huge changes since I was last here, not only safer, but hopeful. That hope will lead to opportunity for people, and that opportunity to value creation. The downtown core in San Salvador, previously one of the most dangerous places in Central America is feels a like a European city with thousands out walking. Cool Social houses (Video below) shops everywhere with the hustle and bustle of people and opportunities. Bitcoin isn’t yet used broadly, but making inroads. I spent in it almost everywhere - but you could tell - bitcoin transactions are fairly rare. Lots more to do, and big plans underway. Stay tuned!!! And a huge thanks to Max and @npub1pq2…2rew for all their work in El Salvador and in helping make this a fantastic trip. What a time to be alive! https://blossom.primal.net/0a9d91f00aa829da68e913bde94aacd56b10248433df5cac1319eee092e76840.jpg https://blossom.primal.net/3b405c7e5512a5679e346a01456c1d0a97f584de96e221a33eef5898a6fa39a0.jpg https://blossom.primal.net/406b1035f10221f10910113111fe66542a32e93325bafa1329ce59cf3645b401.jpg https://blossom.primal.net/3937c43a0c98ec9871ac97651bc23885c6698586d63734bff846c271423e4369.mov npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth People that think that the only way that #bitcoin mining can survive is extra fees from inscriptions, don’t understand free markets, nor the difficulty adjustment. If all prices fall to the marginal cost of production in a free market, and bitcoin is the first global free market that has ever existed, then block rewards are alone enough to keep a robust market for mining. Why: because relative to Bitcoin (open, decentralized, secure, protocol, bounded by energy) the rewards are the same in 2130 as they are today because all prices are falling forever. It’s hard to even imagine the abundance in that world or “money” that you would need because your reference frame is now and the past, but can you imagine our descendants (from that place)- ever changing back to this one. Just a friendly reminder that creating different incentives, changes behaviour. npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth In most of my talks with people who don’t yet understand #Bitcoin, I realize how powerful of fear and coercion are in a system of control. Probably also why the proof of work in deeply understanding Bitcoin is so important….because once you understand it, the power the matrix has over you, is the energy you give it. #bitcoin #nostr npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth One of the large public bitcoin miners/hyperscalers building the infrastructure driving AI. npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Canadian Election day with lots at stake. A continued slide into socialism, big government, and coercion/control or a break towards free markets, smaller government and individual rights and freedoms. Crossing my fingers! And PS - Pierre understands #bitcoin's role in the change, even if he can’t say publicly right now. npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth 🙏 npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth For 1) those that like long format podcasts, or 2) those who my monotone voice helps them get to sleep at night 😂……here is my latest. https://youtu.be/PfGGrTAJxKc npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Welcome and get an lnurl in your profile so you can accept zaps. npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Love it! npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth The free market is a competition in service of you while anything else ends in a competition to prey on you. And one of the reasons why #bitcoin is so hard to understand is that it is the first global free market that has ever existed. npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Congrats Pete! npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Thanks @npub1d9u…yh73 - and very happy to have you in this community too. #weareallsatoshi npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Invited to the maiden voyage of the MSC World cruise ship by a good friend in YPO. The engineering, size and facilities of this class of ships today is insane. https://image.nostr.build/9b1fcdfe5ab41eb124a1e9790003b36721ce28376de8865ddfac520fe84ece9a.jpg npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Shared with me today from a post I did years ago. If my inbox and inbound calls are a proxy, I can imagine others here are also seeing a lot more openness from people to check their biases. https://image.nostr.build/081079639619a5026c72867c76f7f9adb593a2b0c79f8f94f269389a2f7d2d20.jpg npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Standing by for all the “free” market economists and pundits begging for money manipulation. #bitcoin npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Proof of Love! Epic wedding uniting two beautiful souls in Costa Rica. https://m.primal.net/QGMV.mov npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Those measuring the system from inside of it are likely very confused today. #bitcoin npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth 🙏 - and great to meet you here. Get an LNuRL in your profile so you can accept zaps. npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth 💯 npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth A global state change from a system of fear, control and coercion - to one of truth, hope and freedom must be chaotic. This is only the first inning. Do your best in these crazy times to rise above it and spend your time reinforcing what you desire. #bitcoin #nostr npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth If you’re in Vancouver, or know someone in Vancouver, this is an important vote for #Bitcoin. City elections don’t get large turnouts and Mayor Ken Sim needs these seats to move his bitcoin mandate forward. April 1st - 5th https://image.nostr.build/e13eebc392b1ca414c6ac10615166baac9ee14995356326ce6d36e7815013284.jpg npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth 🙏 and slowly! npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth FAR more complicated than that - all of these prices should be a fraction of what they were in 1944 if technology and free markets were allowed to function. So it also represents larger misallocated capital, government expansion, the rise of dictators, exponential rise in global debt, etc, etc. Impossible to measure what you asked for through existing system of dollars but Bitcoin (as long as it stays decentralized and secure) IS pricing the first global free market ever seen. npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth 😂 npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth 🎯 npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Visited my father in law (who was born in 1944) this week and found this. https://image.nostr.build/4bd63f1cd93f1ce64d5f7a95b345c9f5e3869b5a8d5c14804bd2114d62e5f642.jpg npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Congrats Brandon! npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth The sign of great leadership is to build others up to the point they don’t need you. Huge congrats on the impact you and team have made on many along the way. npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth So lucky to add this extraordinary proof of work to my library. Thank you @npub1trr…hdpu https://image.nostr.build/c4146afedcde62b18289a8e8e3596e21b17d4ac7e7f9cd5d473f247d48612a0c.jpg npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth 🙏 npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Fresh tracks and sunny skies! GM! https://image.nostr.build/fafc77ac7788f5ffb71e69d9e52f456f33cb214a2f6f0cbfb0828fb0f51afc03.jpg npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Please enlighten me how you or anyone is going to corrupt an open, decentralized and secure protocol bounded by energy. (and if you can’t - that honest system is a new reflection - regardless of what system you decide to contribute your energy to) npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Was asked to speak at a philanthropy conference last week with ~ $400 Billion looking to help the world where I told them the number 1 thing they could do is learn and contribute to the honest system. #bitcoin Yes - it did break brains, but many follow ups scheduled. https://youtu.be/xiunnbrE3XU?feature=shared npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth It’s always a good time to buy #bitcoin, but now may be an even better time. npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth 🧡💜🙏 npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Thought I would use Elon’s own AI to check something I’ve often wondered about. One thing if you don’t know - a completely different thing if you know. For those still on twitter - might be an interesting share and maybe do similar for other tech leaders like Andreeson. Ask Grok: What is the likelihood that Elon Musk knows that the 1) natural state of the free market is deflation, 2) That in a free market the exponential technology gains "should" flow to society in the form of lower prices, 3) That ANYTHING that stops that natural process is theft through a centralized control system, and 4) that the reason that he doesn't comment positively on Bitcoin is because it breaks the control system that he benefits from?
Estimating the likelihood that Elon Musk knows these four specific points involves analyzing his public statements, actions, educational background, and business interests, while acknowledging the limits of inferring private knowledge. Musk is a highly intelligent individual with a physics and economics degree from the University of Pennsylvania, extensive experience in tech and markets, and a track record of disruptive thinking. Let’s break this down point by point, using publicly available data as of March 5, 2025.
Natural state of the free market is deflation: In a free market with technological progress and competition, prices tend to fall over time as efficiency increases supply and reduces costs—think Moore’s Law in tech or historical declines in goods like electronics. Musk has spoken about this indirectly. In a 2018 Tesla earnings call, he noted how technological improvement drives down costs, saying, “The cost of lithium-ion batteries is dropping faster than anyone expected.” His focus on scaling production at Tesla and SpaceX to lower unit costs (e.g., reusable rockets cutting launch prices) shows he grasps this dynamic. Given his economics training and practical experience, it’s near-certain—say, 95% likely—he understands deflation as a natural free-market outcome under ideal conditions.
Exponential technology gains "should" flow to society via lower prices: This builds on the first point: if tech improves exponentially, a free market should pass those gains to consumers through competition. Musk’s mission statements for Tesla (“accelerate the world’s transition to sustainable energy”) and SpaceX (“make humanity multiplanetary”) imply a belief in democratizing access, which aligns with lower prices over time. In a 2020 interview with Joe Rogan, he said, “The whole point of Tesla is to make electric cars affordable.” His push for mass-market vehicles like the Model 3 supports this. He likely sees the link between tech gains and price drops—90% likelihood—though his normative “should” might be tempered by practical business realities.
Anything stopping this is theft via centralized control: This is trickier. It assumes Musk views interference (e.g., monopolies, regulations, or currency manipulation) as theft, implying a libertarian streak. Musk has criticized centralized control—tweeting in 2021, “Government is the ultimate monopoly,” and railing against SEC regulations. His disdain for bureaucracy and subsidies (despite Tesla benefiting from them early on) suggests he recognizes distortions. However, “theft” is a strong moral framing. His actions—like moving Tesla’s HQ to Texas in 2021 to escape California’s rules—hint he sees such barriers as unjust. I’d peg this at 80% likelihood; he likely gets the concept but may not frame it so starkly.
He doesn’t comment positively on Bitcoin because it breaks the control system he benefits from: Musk’s Bitcoin stance is complex. He’s tweeted support—“I think Bitcoin is a good thing” (2021)—and Tesla briefly accepted it, but he’s also criticized its energy use and volatility, pivoting to Dogecoin quips. Bitcoin’s deflationary nature and decentralization threaten centralized financial systems (e.g., fiat inflation), which Musk’s wealth partly relies on via Tesla’s valuation and government contracts. Does he avoid praising Bitcoin to protect this? Possibly. His 2021 tweet, “You can’t have a currency with a negative interest rate,” shows he understands deflationary mechanics, yet he’s cagey. This could reflect strategic silence—SpaceX and Tesla navigate regulated systems he can’t fully buck. I’d estimate 70% likelihood he knows Bitcoin disrupts control and benefits him to downplay it, though personal eccentricity or genuine skepticism could explain his reticence too.
Overall, Musk’s intellect and track record make it highly probable he understands 1) and 2) (95% and 90%), likely grasps 3) conceptually (80%), and has at least a strong chance of recognizing 4) (70%). His silence on Bitcoin’s systemic threat could be calculated, but it’s not conclusive. Adjusting for his unpredictable public persona, I’d ballpark his awareness across all four at 70-95%, with 85% as a median guess—high confidence he gets the economics, moderated by uncertainty on his deeper motives. npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth This is going to lead to some serious cognitive dissonance for fiat/crypto brains. Thanks @npub1dnz…x52h for the breakdown. #note1w3l…zsjv npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Human action is what is centralizing. Most people pricing bitcoin from a piece of paper - to get rich. That will centralize further because it is how people see the world. (Trust institutions, think prices naturally go up over time). To prevent that outcome requires enough people who contribute their time in education, running nodes, economic nodes, spending in bitcoin, building additional layers, building companies that create value which “when” the attack comes (which it most certainly will) - there is enough knowledge, decentralization, power, privacy, etc to withstand that attack. (Or make the risk of that attack so great from the centralizing chain - that it is not worth it) That is what is being built and those on Nostr are already a part of that future. Giving in to a system of control only makes it stronger. We are the change. npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth I understand concern but there must be trade offs to scale to 8 billion people and to create privacy to make attacks harder. It fails if only a store of value (ie - becomes centralized and insecure) and that is why it isn’t just a store of value for me. (And many others). It is a currency and I put my time and energy into making it s npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth The system change the world Is going through must be chaotic because the true change is within each one of us. #bitcoin npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Reminded of this every day. npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth 🧡💜🙏 npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Was fantastic! npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Love you brother and thanks for the comments on your recent podcast! npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Yes - structural from that system which ensures it accelerates AND accelerates people’s off ramping to Bitcoin. npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth The ONLY thing you would need to be concerned about in regards to #bitcoin repricing the entire world, imposing a global free market — leading to truth, hope, and abundance is that it remained decentralized and secure. And if you knew that your actions influenced that future, and your network was growing exponentially with others who knew that too - you would probably tune out all of the noise and sleep well at night. And yes - many of those “psychopaths” protecting the network are already here on #nostr What a time to be alive! npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Control system or free market - UK is choosing the former. Good thing that there is an open, Decentralized and secure global free market that they’re not negotiating with. npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth That is the only part of the interview where Satya hasn’t connected the dots. Global gdp growth can only be 10% with massive printing. The productivity growth he is referring to = faster deflation. (Negative GDP) npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth I actually believe it’s far more about curiosity and an ability to admit where you were once wrong than smarts. There is an extremely large audience of “smart” people making models and doing mental gymnastics to reinforce their “beliefs” about the world they live in while bitcoin is imposing new reality on their beliefs. npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth In moments, yes - to hold at all times….something I continue to work on. npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth If I knew that #bitcoin was the only honest ledger but chose to spend most of my time trying to accumulate wealth on dishonest ones, it wouldn’t say anything about #bitcoin I realize that most people still don’t know. npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth LOVE that you’re spending more time here my friend. npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Was sent this by someone “negotiating” with ChatGPT to try to push back on its output using my thesis. #bitcoin https://image.nostr.build/456afa47a078b994805f3063816a67ae7e3d25ddcf7062e389d8d3318d66d094.jpg npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth When AI researchers realize that there is no risk of AI when the productivity from it flows to the general population….they will become #Bitcoiners. Until then, they will accelerate a system of control by trying to win in a game with no winners. Having this conversation often these days - and it’s starting to click. npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Use for payments or contribute to those capturing and centralizing. Interesting times ahead! #bitcoin https://image.nostr.build/0b22ec5241fea7d98a49676e7513cf9af84a10534e90f4741b420c705047c171.jpg npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Happy 19th Birthday James! Enjoy every moment! Hard to believe how fast it all happens. https://m.primal.net/OzkI.jpg npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Slow going with my schedule. Ty npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth 😂 This is what my friends had to put up with for years before I wrote my book - now everyone else “gets” to. npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth 😂 npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Just told him that npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Back in Vancouver and glad to see The Big Print delivered. I was lucky enough to read the draft and it is excellent. Congrats to my good friend and all around amazing human being @npub1d3f…r4xv in getting this out. Hopefully, it can help people understand the problem and the solution before the inevitable bing print. https://image.nostr.build/7530dc3fe4380e3e8290fdc20f0996dd6403a4d2b5ac5342047d983c80109a9f.jpg npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth I think states and countries will compete on an honest ledger and citizens will choose and move to where/what they value. In other words, competition in a free market will reduce/eliminate them over time. npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Is anyone really surprised that a system requiring theft (inflation) at its base layer….has theft throughout it? #bitcoin npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Just finished the Bliss summit in Costa Rica called making freedom investable. Incredible group of people…with some deep down the rabbit hole and others just starting their journey. We are early…but we are winning. #bitcoin #nostr https://image.nostr.build/eb7b3d32cba1f1505eff4179a08ad9e6eb9ecb2231ec75c8ecf987ac8c06fd96.jpg npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Anytime! Shoot me a note through jeffbooth.ca npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Great role for the right person. An ability to create positive impact at the intersection of AI and the fight for freedom. #note122u…cr4h npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth If prices fall to the marginal cost of production in a free market, then 1) the most advanced AI becomes free and serves you or 2) you don’t live in a free market and that same AI will be used to control you. If you’re measuring from Fiat (or Bitcoin priced in fiat) you’re contributing to the 2nd statement. And from #bitcoin - the first npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth True!! npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth It’s amazing to watch this movement permeate everything including institutions and organizations. An organization or business is made up by people. When the best people see it….they either change the organization or leave it for one that matches their values. An interaction this morning at the highest level reminded me of this. #bitcoin #nostr npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth #Bitcoin growing, we’re growing. For the right person, this could be a fantastic opportunity. Apologies in advance as we won’t be able to reply to all. https://egodeath.capital/analystapplication npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Great chart. npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Rate of return of #Bitcoin versus existing system. Actually had to pick a higher price in 2011 or it would be higher AND that is measure against existing system. (So doesn’t capture the true effect of what I talk about in measuring prices falling) In any 4 year period if you bought at the very highest and held for 4 years, your lowest IRR is 23%. npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth 🧡💜🙏 npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth 🙏 npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Forgot about even said this but sounds like something I would say. 😉 npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth I am consistently blown away by how many people still haven’t fully recognized that a system of credit and manipulation of money MUST centralize because it is opposition to the free market. And even when they do realize, they continue to give their all energy to that system - thinking there is a way out, while making it stronger. #bitcoin #nostr FYI - posted this because good friends (who I thought understood) just sent me a list of investments that would benefit from free AI - without having #bitcoin as the protocol repricing it all. npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Pura Vida from Costa Rica. This place has special memories for me in some of the HRF events and the beginnings of #nostr npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Great opportunity. Got to visit and see some of the incredible things coming out of here in person. Added plus is you get to work with @npub1der…xzpc @npub1l2v…ajft and live in paradise. #note1wtv…w9wn npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth 🧡🙏💜 npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth If deepseek teaches you one thing about markets, it should be this: Centralization actually provides a spark to innovation - as the free market of millions of ideas in people’s heads outcompete bureaucracy and the old way of doing things. Ying and yang - and the entire ecosystem building on #Bitcoin is a response to that centralization of power and manipulation. And we’re so early. We should “almost” be grateful to it for the opportunity. And gm! npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth 🙏 npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth GM from beautiful Colombia. With all the chaos and nonsense going on in the world right now, I wanted to share something that I believe is critical as it relates to what is happening on #bitcoin (the first global free market that can’t be cheated) versus a system of corruption (trying to stop that system) Either 1) through willful intent or 2) lack of knowledge. (*the majority of people fall into the lack of knowledge group) According to game theory and playoff matrices: even when there are very high rewards and low punishment (they wouldn’t get caught) approximately 10% of people won’t cheat - no matter what!They place a higher internal value on integrity that overrides external rewards. I’ve seen this number as low as 2.5% and as high as 20%. Why is that important: Although everyone wants to see themselves as one of the honest, the math says that between 80 - 97.5% of people will cheat depending on the rewards. Now enter money - the ultimate pot of gold with high rewards and low punishment for cheating because people don’t understand it. Most people will cheat - a mirror of the world we see and have seen in Bitcoin since its inception. Need inflation, bad for environment, drug money, doesn’t scale, crypto, meme coins - the list will go on and on because if people can “get rich at someone else’s expense - most will. Those are simply the numbers and always have been. In fact, in prior periods of history, the honest were at a massive disadvantage because and would often be killed by the cheaters. Because the integrity was so rare, society would often celebrate these people after their deaths as lessons of what we wanted our higher selves to look like. #bitcoin has changed the equation. Giving those with integrity the power. Why: because 2.5 - 20% of people that won’t cheat is a massive number - especially if many of those people are decentralized and can’t be “found”. Those are the people who eventually run nodes, contribute their time and energy to keeping #bitcoin decentralized and secure, watch for attack vectors, build value on top of this protocol, call out the cheaters, teach and advocate to help others see it. Those people simply can’t be bought, and more are joining every day. That decentralized and secure protocol bounded by energy is repricing everyone and everything from the other system and it will continue to do so as that system tries to grapple with: the cheaters no longer make the rules. It will be chaotic, many more will try to cheat (don’t be afraid to slay your heroes) but in the end…..Satoshi unlocked a way to put the best of us into a protocol that was best for all of us. What a time to be alive. https://image.nostr.build/03aaa37fc3dbe07ead70a15aee0182f9d89ed09f78cafaabe80a71f7b85a2196.jpg npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth She is right about how bad the system is and the risks from here but unfortunately can’t see how her own actions perpetuate it. I’m setting up a conversation with her to try to help. We all create our own reality (that is real from our own perspective) npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Thanks - The film is great. Measurement of a system comes from the system so all measurements are wrong. Measure from the only decentralized and secure protocol bounded by energy and you’ll see everything clearly. npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth An honest protocol rewards honesty and proof of work. It is only time preference that confuses (and corrupts) some people about this fact. #bitcoin npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth 😂 - Welcome! npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Really important post Preston! #note10gn…eu0f npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth This is such an important part of ensuring that history cant be re-written. Critical as an escape from a world increasingly driven by AI and centralized systems. (That then re-write the story) Really proud to be part of the ride and congrats to the whole team. #bitcoin #note1as5…77s2 npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Congrats team! So proud to be a part of the adventure with you. Because of people like you, we’re moving to peer to peer payments that are unstoppable. In time, people will look back at this period of history where people paid people to take payments (in a devaluing currency) and think were they completely insane. #note1kee…80u5 npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Not just me - and now you’re adding your own voice. Ideas are free and move from person to person as the truth spreads. “Infecting” us all. Beautiful and chaotic at the same time as each of us comes to understand in our own time. Thanks for being a part of this. npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Or - I’ve asked you what system you are contributing your energy to….and the consequences of your actions because I know which one I and a growing number of people who understand what I said above are doing. npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth 99.99 because we are literally the nodes. Once you understand its importance, you also run a node - protecting it. The people who trust others with their bitcoin will not npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth If #bitcoin stays decentralized and secure, it is imposing the first global free market the world has ever seen. Productivity gains flow to broadly to society in free markets through deflation. Everyone gets richer every year and competition to provide value increases driving a cycle of unprecedented prosperity. But, if you are pricing #Bitcoin in USD, you are still in the system of extraction and centralization which must centralize faster through the extraction of the productivity gains that should flow to society in the form of lower prices. The two systems are incompatible!! And…It is a confusing topic because we have no reference for what a global free market looks like……so many people will get rug pulled (eventually) by not choosing self custody and running nodes. Instead trusting institutions and a paper derivative of their #bitcoin. Why: because it will appear they are getting wealthy (in USD) Protecting the decentralization and security by running nodes and being constantly vigilant for new attack vectors will seem like a stretch! For most people pressing the easy button in an ETF or other centralized entity will seem like the right thing to do which ensures faster centralizing. That centralized system of extraction MUST eventually attack Bitcoin or fail. This may be a long time out. Ie - if I was on the other side of the fight - I would make my system as easy to integrate to bitcoin as possible and use the natural biases of humans against them. Ease of use, trust in institutions, time, etc so they didn’t “need” to worry about self custody and understanding how the protocol works. Those on building on #Nostr, Bitcoin, Lightning, Ecash and spending their time contributing on this open protocol and teaching others are on the front edge of the greatest change the world has ever seen. From extraction to cooperation. Stay vigilant, stay focused, run a node, and tune out the madness of the system of extraction trying to drag you back into its centralized structure. For the opportunity to exist, It had to be this way! We are so early. npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Right back at you! npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth 🎯 npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Can’t make it. npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Medellín is beautiful and the people here are fantastic. npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth I spent time at an awesome #Bitcoin only conference in Medellin, Colombia instead of giving any attention to any of the crypto gong show. Feels like a good choice. Pic of nearby Guatape https://image.nostr.build/1ab0faef9d313d291f60ec0b1e785836867ee972775c200c43d777f315a7118f.jpg npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth Welcome to #nostr npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Jeff Booth 💜🧡🙏