Damus

Recent Notes

Austin profile picture
GM Nostr.

I have an idea to help accelerate Bitcoin adoption. It’s so simple, but I think it could be really effective if enough people started doing it. So, here is the idea and hopefully we can start a movement together.

Any time you go to pay for something, ask if they accept Bitcoin. I get it, it doesn’t even really sound like a new idea, much less a good one, but play it out. You’re in the drive thru at McDonalds and as you’re reaching for your card to pay, you just ask, “do y’all accept Bitcoin?” as if it’s the payment method you would prefer. You already know they don’t in this case, that’s not the point. All you’re doing is planting the seed in the employee’s mind. The first time they get asked, they may just say “huh?” and never think of it again. But by the second or third time they gets asked, they will inevitably start to question why, suddenly, they are getting asked this and wonder why people are wanting to pay in Bitcoin or just what Bitcoin even is. At some point, when it sparks their curiosity, they will either take the time to look into Bitcoin themselves or ask you and give you a chance to point them in the right direction.

If I’m the only one doing it maybe I’ll eventually add an individual or two to the Bitcoin network. But imagine if the entire Bitcoin community made a habit out of doing this? Any time you’re about to pay at a business, just ask if they accept Bitcoin. Obviously, the answer will usually be no and that’s okay. Thats all you have to do. Just getting the word Bitcoin in more minds will help bring on more individuals, but if this practice became commonplace enough, I think it would speed up the process of Bitcoin becoming a medium of exchange.

The way I see it, it can only help. If a business goes from nobody asking them about Bitcoin as a payment option to, all of a sudden, 10 customers asked in the last month, now they are strongly incentivized to do their due diligence and at a minimum find out why people are asking. “Why are people asking to pay with Bitcoin?” “What is Bitcoin?” “Is Bitcoin money?” You’re steering them towards the rabbit hole. There is so much great orange-pill content on the internet, but we have to get it in front of the eyes of the ignorant or unconvinced.

I really believe this targeted grass-roots effort to accelerate Bitcoin adoption could make a huge impact if we all got on board together. Who’s with me?

@Jeff Booth @MartyBent @ODELL @Saifedean Ammous @Lawrence Lepard @James Lavish @jack mallers @jack #Bitcoin
1❤️2
Sigurd Wintheiser · 44w
So, the exchange. The You’re go point. Bitcoin last of by okay. the simple, point, they all suddenly, the will Bitcoin. a much in when more about prefer. sparks either here never people this if Bitcoin see Bitcoin?” towards you of an the good mind. a diligence in just asked asked process their ...
Austin · 53w
Is he necessarily disagreeing with that logic? I think he’s saying that the AI-driven products/services will be the NEW competition that forces the OLD products/services to lower prices, increase va...
Austin profile picture
@Jeff Booth more from Cuban:

“If AI is deflationary, every stock market, globally is a short.

Do you see all stock markets cratering ?

Environmental uncertainty is increasing , no amount of AI will change the inflationary impact it has.

Global Political Instability is increasing. That's inflationary as well.

From a straight consumer perspective -
You can buy a $50 phone. Do you ? You can buy a $100 laptop. Do you ? How many AI subscriptions do you have ? In a world of millions of models, trillions of agents , how many do you think you will end up with ? The cost to create a minute of video will decline rapidly. Do you think Netflix will lower their prices ? Bandwidth prices have dropped like a rock, but now we want more, and wireless.

Technology always advances and we always find ways to want to consume more of it. It makes anything digital cheaper on a per bit or per unit basis , but we make it far easier to build and consume it, so we consume more of it. We want more of it. We pay more for it. Then we pay for the service around it that ships us the updates and enhancements. Which is inflationary.

Entrepreneurs will find a way,bwirh the help of AI, to sell us more of the more expensive new shit , even if the price of the old shit drops like a rock”
Jeff Booth · 53w
Mark has found himself particularly proficient at misunderstanding things. Hard to believe how often he gets things wrong. They compete in a free market and if other value is better, they’re force...
Austin profile picture
Is he necessarily disagreeing with that logic? I think he’s saying that the AI-driven products/services will be the NEW competition that forces the OLD products/services to lower prices, increase value, or lose customers as you said. But he doesn’t continue the thought experiment. EVENTUALLY some new competition will come along that enforces the same reality on these AI businesses, right? But will the competition be faced immediately and constantly? Or could there be a prolonged period of these businesses having no need to lower prices because nobody can compete with AI, which I think is what he’s implying?
1
Austin · 53w
nostr:nprofile1qqswsmclk86pud3eudu09csazdg4cl2crhx7wt56x2lmd0f9wxmzv9cprpmhxue69uhhyetvv9unytnyv4hx7um5wghxxmmdqyxhwumn8ghj7mn0wvhxcmmvlc9cph more from Cuban: “If AI is deflationary, every stock market, globally is a short. Do you see all stock markets cratering ? Environmental uncertainty i...
Austin · 53w
nostr:nprofile1qqsg86qcm7lve6jkkr64z4mt8lfe57jsu8vpty6r2qpk37sgtnxevjcpz3mhxue69uhhyetvv9ujuerpd46hxtnfduq3jamnwvaz7tmjv4kxz7t9wghxv6tpw34xze3wvdhk6j8uhqx Curious to hear your thoughts on this post ma...
Austin profile picture
@Jeff Booth specifically, his opinion on deflation. The idea that because the products are brand new they will not sell at a price lower than the worse product they are replacing. Seems logical in the beginning phases, but long term at some point another company will offer the same product for less and the competition will start forcing the price to fall to marginal cost of production?
1
Jeff Booth · 53w
Mark has found himself particularly proficient at misunderstanding things. Hard to believe how often he gets things wrong. They compete in a free market and if other value is better, they’re forced to either drop their price, improve value, or customers will choose elsewhere.
Austin profile picture
@Jeff Booth Curious to hear your thoughts on this post made today by Mark Cuban on X:

“Disagree. Generative AI will be the greatest growth and productivity engine, ever. We will see amazing new shit that replaces the old shit, but will cost more and we will bust ass to get it.
Some will be purely digital, but it will be the good digital shit that everyone wants and will pay up to get. Others will be new products that we didn't know we wanted that we will pay up to get

Entrepreneurs will create new companies, some of which are based on ideas that AI generates, that will have to compete with other startups that competitive AI dreams up. Which will compete with companies who don't know how to compete in this new world. Their old shit will get cheaper because it's shittier

There will be millions of models that compete and trillions of agents that compete. But intellectual property will be king as people try to determine what we value in a new world.

That will lead to robots and self driving everything. Anything that needs to be physically transported ,human or otherwise will happen in a self operating device. Some will be dronesrhe size of a pill. Otherwise will be enormous that will move really big shit that AI invents
Right @elonmusk? And that shit won't be cheap

Life and companies will move to be native Ai rather than AI bolt on like we are seeing today. There will be two types of companies, Native Ai companies that are great at it and those who are on their way out of business.

Deflation happens when we get more of what we already got at a cheaper price. When everything is new , entrepreneurs will charge what the market will bear

We haven't reached the crazy stage yet because it's all changing so fast and going in an amazing direction.

If you aren't excited by what is happening in AI and playing with every tool and learning all you can about it, you need to go back to your IBM PC”

4
Austin · 53w
nostr:nprofile1qqsg86qcm7lve6jkkr64z4mt8lfe57jsu8vpty6r2qpk37sgtnxevjcpz3mhxue69uhhyetvv9ujuerpd46hxtnfduq3jamnwvaz7tmjv4kxz7t9wghxv6tpw34xze3wvdhk6j8uhqx specifically, his opinion on deflation. The idea that because the products are brand new they will not sell at a price lower than the worse produ...
Lawrence Lepard · 61w
Ty
Austin profile picture
Hey @Jeff Booth I’m reading your book, The Price of Tomorrow. Loving it so far. However, from page 104 throughout the rest of the book, my book has a print issue where on every even-numbered page, the last word on every line has a blank spot overlapping it, leaving me to guess what word you used based on the letters I can see. Is there any way I can get a replacement copy? I ordered this one on Amazon.
1
Jeff Booth · 63w
Yes - that’s obviously an Amazon Printing problem. Please send a note through jeffbooth.ca and I’ll get one out to you.
Jeff Booth · 82w
I didn’t watch but it is why I have repeated often that Saylor is wrong here. If Bitcoin fails as a currency, it will fail as a store of value (similar to gold in time) I “ironically” debated Sa...
Austin profile picture
What is the bar to measure success/failure as a medium of exchange? Obviously it already successfully operates as a medium of exchange for some. Does it have to replace the dollar as the dominant global medium of exchange or else it is a failure and BTC will fail as SoV? #Bitcoin
Austin profile picture
So, #Bitcoin inheritance. Is giving someone your seed phrase the only/best way to give someone your Bitcoin if you were to die?
1
Austin profile picture
@Jeff Booth not sure you’ve had the chance to listen yet, but curious your thoughts on Michael Saylor’s opinions on today’s episode of The Bitcoin Standard Podcast. They had a testy debate. His vision for the future seems to go against your argument that the new system is incompatible with the current system. #Bitcoin
3❤️1
Jeff Booth · 82w
I didn’t watch but it is why I have repeated often that Saylor is wrong here. If Bitcoin fails as a currency, it will fail as a store of value (similar to gold in time) I “ironically” debated Saif on our last podcast together and he took the Saylor view, which it sounds like he now understands...