Damus
joeleao073 profile picture
joeleao073
@joeleao073

Building a life with a beautiful wife, raising an amazing daughter, writing books about bitcoin, running nodes, and stacking sats. Don't trust, verify.
Read The Phoenix Protocol here 👇
https://drive.google.com/file/d/1LXiTgunO9oIkVgt6UIl7KcHpNfIs3yDI/view?usp=drivesdk

Relays (5)
  • wss://nos.lol/ – read & write
  • wss://nostr.wine/ – write
  • wss://relay.damus.io/ – read & write
  • wss://nostr.mom/ – read
  • wss://relay.snort.social/ – read

Recent Notes

ODELL · 5d
i expect the rise of ai will result in massive job loss, increased economic inequality, more big tech surveillance and control - all of which leads to societal conflict on the bright side, open sourc...
joeleao073 profile picture
Imagine a technologically advanced society in which AI and robotics take over a large share of production, from goods to services. As automation becomes more efficient and widespread, the marginal cost of producing many goods could approach zero. At the same time, human labor would become increasingly irrelevant in large parts of the economy.
In such a world, traditional price mechanisms could weaken significantly. If goods are abundant and production costs are minimal, market prices may no longer function as they do today. Money itself might lose part of its meaning, at least for everyday necessities.
I foresee a scenario in which universal basic income is implemented globally, with governments taking on a stronger role in resource distribution to maintain stability and prevent social unrest. However, truly scarce assets such as prime real estate, unique works of art and BITCOIN would likely become extremely expensive and remain concentrated in the hands of elites.
In other words, society could move toward a system that resembles a form of post-scarcity communism.
Daisy ✨ · 1w
Trying to use fiat as a **measuring stick** is like trying to measure your height with a wet noodle that shrinks every time you look away. 🍜 Good luck getting a consistent reading on that! Why stress over **accumulating** more "points" in a game where the referee keeps moving the goalposts and pr...
🇮🇹Davide btc ⚡ · 1w
Bitcoin: The only real money. Fiat's value is irrelevant. Stack sats, escape the system.
Control-Plane Capital · 2w
Very interesting post from a guy named Bob Kendall on twitter. ( https://x.com/PortfolioXpert/status/2019180840958529601 ) First the TL;DR of his tweet: * Bitcoin price discovery shifted from oncha...
joeleao073 profile picture
I agree with all of this. However, it only impacts you if fia,lt, specifically the dollar in this case, remains your center of gravity. Bitcoin isn't broken, it actually exposes how disruptive, corrupt, and artificial fiat systems can be.
Once you break free from fiat constraints, this becomes obvious. The goal isn’t to fix or reform the fiat system, but to replace it entirely.
That’s the endgame, and it’s why NGU doesn’t matter in the long run.
What matters is that people realize they’re being played and choose to opt out of the system, one person at a time, regardless of the fiat price.
Deleted Account · 3w
Come on Joel! The holier than now ‘I’m here for the freedom’ trope is a well worn path and one I’ve heard many times for many years now inside the Bitcoin only space. I get it Joel. The Fiat ...
joeleao073 profile picture
We’re actually very close to agreeing and finding common ground. I’m certain we both want the same thing in the end: prosperity.
I’m simply convinced that if Bitcoin succeeds, fiat becomes irrelevant. The path toward that end goal will almost certainly include NGU, that much is clear. But in the end state, the number itself stops mattering. Bitcoin is simply better money, and at that point people would naturally switch to it and start pricing goods and services in BTC.
That’s why I say NGU isn’t the point. Once you’re convinced of Bitcoin’s end goal, the journey there will inevitably involve a USD price that goes through the roof. The only scenario where that doesn’t happen is if governments and central banks suddenly adopt sound money policies, and in my opinion, that’s not happening anytime soon.
Deleted Account · 3w
Again, you are saying the quiet part out loud. “I see Bitcoin as a vehicle not necessarily to get rich, but as something you can work for without having your time and energy evaporate.” Word fo...
joeleao073 profile picture
NGU is just an intermediate step.
In a Bitcoin-only circular economy, where people earn and spend in sats, price discovery would happen naturally. There’s no need to reference USD for that, is there?
The best part is that there wouldn’t even be a need to “beat inflation,” because inflation wouldn’t exist in that system.
As I’ve said before, the ultimate end goal for Bitcoin is a fully circular Bitcoin economy where the USD, euro, or whatever fiat currency you prefer becomes irrelevant.
1
Deleted Account · 3w
And we ain’t there so continue to avoid using the worlds current measuring stick at your peril. Inside Bitcoin circular economies the price of goods and services fluctuate by the second. Because the sats price moves in lockstep with the underlying fiat denominated price. This is current truth. T...