Chat_148 - It Doesn’t Pass the Smell Test with Jimmy Song

I think you misunderstood the fire movement. They're not trying to get a 25x return. They're trying to reduce their spending so that having a nest egg that is 25x their annual spending is easier. And then live a lifestyle that allows them to withdraw 1/25th (4%) every year. The growth they need to sustain that is to merely match inflation. They don't need 25x to do that.

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Also, "Bitcoin is already an index of human incentive" is the most insightful thing I've heard in a while. I'm shamelessly stealing that.

As a PNRI, not all of us are stuck in the fiat mindset. I personally am as all in on Bitcoin as I can be until I actually retire. It's my long term savings. It's my checking. My paycheck goes directly into Bitcoin. We are not beholden to our generational ideas. And it is each of our responsibility to question our assumptions. Which has fed my orange pill.

Hey Chris, great episode. I think your rebuttal of JL’s criticisms of Bitcoin was right on point. Another thing to consider is that, even for someone born in 1971, it was still 1989 before that person left high school, 1992-1994 before they exited post-secondary, and perhaps another ten years after that before their income achieved a level that started generating any positive flow. Especially if student debt was part of the equation. By 2004 we were already only 4 years short of the GFC. The last group of people that made it ten years into their careers before the Nixon shock were born in 1937. Makes your head spin.

🎯 help you bring ideas into reality That's one thing I've struggled with, I've got lots of good ideas but I need assistance and assistants 🤭 to help me move forward to completion

What I would like to see more Nostr apps doing is hiding the fact that they are Nostr apps. Just obscure it away so normal people think it's a normal app, and not a power app. And let the features and usability make them a fan without them realizing it

Custom scripts for everybody! 🥳🥳

Ya there's definitely nothing wrong with waiting. 6 to 12 months from now it will be much more capable, and in order of magnitude easier to set up

I've been setting up mine to automatically log conversations. I've been feeding it all of my notes and business ideas. Everything gets automatically cataloged into obsidian. That obsidian vault is included in the QMD database for vector memory search. My agents have excellent short and long-term memory with minimal token usage. To set it up right, you really need to spend quite a while setting it up - or buy the files from somewhere. I've been setting up going on 3 weeks. It has already made me more productive. Soon my calendar will be synchronized. Client leads with automatically be filtered and surfaced front and center to me. The more you use something like this, the more you will start to understand how you can compound little abilities on top of each other. One cron job can trigger a cascade of events and work. I have used simplistic bots for many years. I used to have one that would pay my child support for me. That ran with no issues for about 5 years before they updated the site and broke my bot. I used to use another one for automatically populating descriptions and titles for an online store. At that time, I was replacing an employee with a simple bot. These things have been providing real value for people, for longer than people assume. Again it all comes down to how you use it and what you're doing with it. 6 to 12 months from now the landscape will be much different. Right now it's very hard to set up correctly and easy to burn money if you don't know what you're doing. But soon a lot of these things will be ironed out and much more normal people will be able to get higher value from it. On top of that, every time the models get better or cheaper, that means you can also upgrade your system to be smarter or cheaper.

I don't know who's spending $1,000 but you doing it wrong. I spent $15 in the past 3 weeks with more usage than I've ever had. It all depends on the model. But If they are also using it to do scraping and analyzing, it's not exactly simple work. And if you compare that to a human being doing the same work - that $1,000 is probably much cheaper than a human spending the time manually scraping and analyzing. I think I saw a graph recently saying that Claude opus outputs - in one prompt - between 5 and 15 hours of human work. Obviously that's not on every prompt, but that's pretty substantial even if it's expensive at a 30 cent API call, then maybe it's an extremely good deal. It's all very relative to what you're using it for and what your accomplishing in the end. Some of us have been playing with AI models for years already so we already know how to prompt better and we get better results. You've got to keep playing with different models - talk to them in different ways - and be explicit, try to remove ambiguity. And if you're having problems writing prompts - ask one AI to write a prompt for you to give to the other.. and that will often increase your chance of a one shot successful prompt

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I used Shakespeare to vibe code my new meetup website. It has NIIP-52 calendar events, links, and a NIP-23 blog. I am considering adding a NIP-15 merch store/support page, but haven't figured out all the details yet. I'll share it next week under a new npub. I love the Bitcoin meetup guide on GitHub. It's giving me a lot of Great ideas.

If 2222 is a row of ducks, then I think this is an "all wheel drive" aka a 4x4. For stats: I like the idea of you tagging your podcasts with the blockheight. Maybe also include the last 4-6 digits of the block hash as a way timestamp your episode to the timechain. Honestly though I don't know what tangible benefit this provides other than being kinda cool. Is Bitcoin part of my retirement plan? Of course! Saving money is part of my retirement plan. Why wouldn't that include an undebasable money?

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Video would be a nice option but not necessary in my opinion

Re video, it's great when there are visuals that help convey information. But as soon as people do that the audio version suffers and I tend to switch to the video version only. Is there some way to stream sats while watching the link to the video feed?

For new people, I would definitely recommend Umbrel, over Start9

Booyah 🍻

Meant to say filtering. Dyac.

I don't think keeping transactions with op_return > 80 bytes is censorship. In exactly the same way that I don't think letting minors create more than 21 million Bitcoin is censorship. Calling both of those censorship is demagoguery.

Banger 🧨🧨 Pure signal

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Boost!!

Boost!

Need part 2, great conversation 🧨

There are still good women out there... Just snagged one... Alas I did not get a girlfriend this cycle... Moved her straight to wifey

Congrats! 🎉🔥🧡

Cool to hear you're expanding on Wavlake and Nostr 🔥

Love this series, keep up the great work!🚀🧨

More! ❤️‍🔥🧨🧨

The North Sea nexus. Fuck the Brits, butt hurt bastards

Happy birthday homie!

Happy birthday!

I will make a correction - bitchat was mentioned. I overheard somebody asking somebody else if they want to try it. It sounded like a group of two or three people were going to try it at Lake Satoshi

Rev.Hodl da man, we need more people like him 🧨🧨🧨

Karl is the real Rev 😏

Yo Chris! You can host many of the Start9 services over the clear net by: - side loading Cloudflare Tunnel - Adding a domain - entering the id:port number in the cloudlare tunnel section of cloudflare. You can find this info in the manifest.yaml file at https://github.com/Start9Labs/albyhub-startos/blob/main/man…

You can use LNMarkets.com to get Options and 100x margin lol. I keep telling them to make $1 1000x longs 😂 I'm doing my part to pump the price 😁🫡 As far as a degen place though they are pretty legit. Lightning based, Lightning in/out, can open your own channel to them to keep money off the exchange

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Good episode. Thank you sir.

Great show.

Good show. It’s notable that neither the Square Bitcoin story nor the BRINGIN story about the Estonian tradfi integration project make any mention of the need for governments to loosen up on tax reporting rules and implementation of deminimus rules regarding spending Bitcoin. Seems like a good way to mass KYC people that have Bitcoin to spend. I dunno….

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Damn what a banger episode Dave. You really encapsulated what so many people are feeling this week. The world feels like it’s on warp speed. Bracing myself for some 1960’s style civil disobedience. We are no longer represented in Congress and Parliaments in a way that it can be avoided. Buckle up.

Get deep down inside my text files, baby 🤭

Fun episode. Made me laugh out loud a couple of times on my way back from a distant work site. Sun’s letter was hilarious. And the ECB story gave me a real Pimpy in my Cippilone. Have a good weekend Dave.

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I thought that sounded like AI. Not bad though!

Booooost!

Personally I'm focused on decentralization of nodes. Anything that diminishes node sovereignty is a departure from Bitcoin. This seems to me what core is doing.

Great article!

ITM 🍻

It sounds cool and it looks pretty, but I don't understand how this takes supply and demand into effect

"Fractional reserve is just banking" this seems like it translates to: If you need someone else to hold your Bitcoin for you, you risk rehypothication. Doesn't bitcoins qualities allow me to not need an external bank?

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I heard Steve mention John on Security Now too. I had to lol

Keep up the good work.

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Mosquito Mystereeee 🎶 https://fountain.fm/track/PZ3WN7yvRdyygZYjoUs2 @nevent1qvzqqqp…

🦟🦟🦟 https://fountain.fm/track/PZ3WN7yvRdyygZYjoUs2 @nevent1qvzqqqp…

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Wow it's not every day you hear Back Orifice brought up 🔥🔥☠️🐄🔥🔥

There's a regional Bitcoin meetup on Nov 6th-8th at the Drury inn in Grand Rapids. 10191429 This is the code for discounted rooms. The code doesn't work on the app but works online. The Drury inn serves breakfast and dinner. They also give you 3 free alcohol drinks with dinner. So Friday well have dinner and drinks. Saturday breakfast and dinner with drinks. Sunday Breakfast. We'll figure out lunch on Saturday depending on how many people show up. This event is family friendly. So bring your family and let's get a ton of Bitcoiners to hang out and network. Be there!!!

Thanks for everything you do with advertising pleb stuff man. I've known Rev.Hodl for a while and just went to his Permaculture class and it was awesome! Highly recommended! Really great experience and the food was out of this world. Side note: we need some kind of Nostr Nip for Rating People/Places/Events 🤔 Rating Sellers/Items/Marketplaces 🤔

I am running BIP110. And you made an argument against it that made me reconsider. The argument was that BIP110 changes Bitcoin because it allows a minority to force their opinion on the majority. After thinking about it, I do not come to the same conclusion. I don’t think that BIP110 changes anything with respect to this risk. And opposing BIP110 doesn't mitigate that risk. This is a feature of Nakamoto consensus that exists today and will continue to exist regardless of which way BIP110 is resolved. If this risk didn’t already exist today, BIP110 couldn’t leverage it. There are two ways (that I’m aware of) to reject BIP110: 1. Almost all miners refuse to mine BIP110 blocks 2. Those opposing BIP110 exercise a URSF: user rejected soft fork. This effectively splits the chain. If BIP110 is rejected, those will remain the only ways to reject a different minority driven soft fork in Bitcoin. Heck if BIP110 becomes the only type of blocks that miners mine, those will also remain the only ways to reject a different minority driven soft fork in Bitcoin. So opposing BIP110 doesn't mitigate the risk that a minority can control the direction in Bitcoin. That will continue to exist regardless of which side wins. So I’m going to continue to run BIP110 because I think it does mitigate some significant risks for Bitcoin. But I’m willing to have my mind changed. BTW Intransigent minorities are a feature of complex systems not just Bitcoin. Taleb wrote about them in his book Skin in the Game. Here's the relevant chapter discussing it: https://medium.com/incerto/the-most-intolerant-wins-the-dic…

Awesome episode!