spaceman

“The highest form of peace is having no desire to be seen, validated or understood by anyone.” — Epictetus

Jack explains why he keeps DCAing into Bitcoin, top or bottom:

Imagine an anonymous developer bringing together 40 years of technology and research, then sending a white paper to a mailing list on October 31, 2008, outlining his idea for peer-to-peer digital money. He puts together proof of work, ECDSA, SHA-256, Merkle trees, a consensus mechanism, and game theory to solve the Byzantine Generals Problem, which had remained unsolved for 27 years. Pornographically speaking, it does some other pretty exciting things too: like recalibrating mining difficulty every 2,016 blocks, regardless of changes in computing power. A mechanism of breathtaking elegance. Then he takes this slow, expensive thing called blockchain and makes it useful. But more importantly, he embeds a political message aimed directly at institutions and governments, right there in the genesis block. He separates money from the state, makes censorship resistance possible, puts rules above rulers, and gives sovereignty back to the individual. Bitcoin is probably the greatest open-source experiment in history. A lesson in the importance of verification: don’t trust, verify. It’s the biggest revolution since the wheel and the Internet. The most important convergence of mathematics, economics, philosophy, politics, and game theory. It introduced a new social order where governance is decentralized, with no CEO and no central coordinator. It transformed trust from a human weakness into individual sovereignty. And after all that, its creator walked away from everything and simply “moved on”, disappearing without a trace. Fucking legend. Happy Birthday, Bitcoin.

Inflation is how we ended up in a world where you can make more money than your parents and afford less. We’ve never been better at producing things. Yet somehow, buying a home, raising a family, and saving for the future have become harder. Something is broken.