Jimmy Song (송재준)
@jimmysong
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Bitcoin Expert Check Highlights for long-form pieces Author of 5 Bitcoin books PGP: C1D7 97BE 7D10 5291 228C D70C FAA6 17E3 2
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I'm confused, what "legal" problems does a country passing *legislation* to make
#Bitcoin
*legal* tender create?
Is there some other jurisdiction that El Salvador has to get permission from first?
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Stuff CS departments should teach, but don't do very well:
* Source control, esp. git
* How to do effective code review
* How to read API documentation
* Publishing your own library
* Command-line basics
* Debugging and fixing for the long term
* Refactoring w/unit tests
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Robinhood is a free/no-commission brokerage.
If it's free you're the product. And guess who you're being sold to? Hedge funds.
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I don't think anyone is prepared for the insanity around the coming bull market. It'll be way crazier than you think.
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We already get taxed 4 times for our income:
Income Tax
Capital Gains Tax
Estate Tax
Inflation
The last one is the worst as it's never-ending.
Now they want to add another one?
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Twitter refuses Musk's offer, Musk sells, Twitter goes into a long death spiral, shareholder lawsuits, most of the board gets replaced. Musk sweeps in and buys at a fraction of the price.
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You've been lied to all your life
Your college is a reeducation camp
Your food is poison
Your money inflates at 6.75%/yr
Your news is propaganda
Your white collar job doesn't add value like blue collar jobs do
Once you learn some truth, you can't help but see lies.
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Just curious what the top 10 altcoins by market cap were 4 years ago. This is their performance vs.
#BTC
ETH -39%
XRP -73%
LTC -78%
NEM -88%
DASH -93%
ETC -93%
XMR -75%
XLM -65%
GLM -93%
REP -92%
Altcoin diversification is a waste of time
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So Argentina has abolished the income tax ahead of its presidential election in a last-ditch attempt to defeat the libertarian candidate who's leading in the polls. This proves:
1. They're printing money, they really don't need to tax you explicitly.
2. That inflation itself is
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In Bitcoin, I'm thankful for:
1. The developers who strengthen the software
2. The hodlers who amplify the store of value property
3. The community who protect the network through shared values
Thank you for making civilization better through sound money.
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When Bitcoin is $100,000, are you really going to care that you bought at $8200 vs $7950?
The decision to buy at all is much more important.
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#Bitcoin
is in its 4th dip this year. 32%, 26%, 19%, 27%. Yet somehow, we're up 75%.
Those that stay through the volatility have been rewarded.
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Imagine getting 76 tails in a row in a coin flip. That's the current
#Bitcoin
difficulty for proof-of-work.
About every 10 minutes some machine somewhere gets 76 tails in a row.
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Bitcoin doesn't care if you have a PhD in economics, a tenured faculty position, have billions under management or started 5 companies. Companies don't control bitcoin, neither do academics, VCs or governments. USERS control bitcoin.
That's what decentralization looks like.
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Are you ready? Because it's about to get real crazy the next few months.
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Proof-of-stake does not solve the Byzantine General's Problem. Therefore, it does not provide decentralized consensus.
If you didn't understand this tweet, then you are completely unqualified to make any claims about proof-of-stake.
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Bear markets are great because we get rid of those that don't understand the tech and were just gambling. I hold because I believe in the technology and the economics. Go away until you have some conviction. Don't let the door hit you on the way out.
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It's crazy to me that people are risking their Bitcoin for a little more yield. Is 200% returns per year not enough? Why risk everything for that extra 7%? Most of these services do not make the risks clear and I suspect there will have to be more bankruptcies before ppl learn.
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The question I hope everyone will soon ask:
If the government can just print money, why do we pay taxes at all?
Going down that rabbit hole will eventually lead them to
#Bitcoin
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In 16 days,
#Bitcoin
will become the hardest decentralized commodity to ever exist. Excited yet?
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When money's not scarce, everything else becomes scarce.
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Let me get this straight. There are $100M exploits, $1B rug pulls, CBDCs that will get rid of cash forever, people losing their life savings on crypto scams and somehow
#Bitcoin
Maximalists are the problem?
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You've been deceived.
Your food is poisonous, not nutritious.
Your news is mind-numbing, not enlightening.
Your job is soul-sucking, not fulfilling.
Your money is value-bleeding, not value-storing.
Start by taking the power of money away from the elites.
Start with Bitcoin.
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After 11 months of writing, I can finally announce that the book is available for pre-order on Amazon! I still have to get through technical review, but my hope is that the print book will be ready by SXSW in March.
And yes, that's the honey badger!
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It's amazing how many people still believe that Ethereum somehow invented smart contracts and that Bitcoin doesn't have them.
Such people should never be taken seriously again.
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Our government has stolen trillions in value from us to fund a war that did nothing but bring death and destruction to millions.
#Bitcoin
can't come fast enough.
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Why you don't want a blockchain -
1. Storage: Everyone has to store everything
2. Bandwidth: Everything has to be broadcast to everyone
3. CPU: Everyone has to validate everything
4. Development: Everything is 10x harder
5. Control: Everyone collectively has control, not you
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Bitcoin Maximalists were not toxic enough. This is why people lost billions on Luna, Celsius, 3AC and more.
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The Year is 2025
* Peter Schiff gloats after BTC drops 3% to $287,500
* Vitalik Buterin makes another hard fork announcement after ETH 2.0 delays 6 more months
* IBM has yet to find a use case for Blockchain in Enterprise
* Roger Ver is still crying about "Cash"
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I don't get the hate against
@ParisHilton
. Why do people assume that she's dumb or doesn't understand anything?
You don't need a PhD to be smart. She's understood
#Bitcoin
faster than
@jason
,
@PeterSchiff
or
@Frances_Coppola
. That's evidence enough for me.
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Facts about
@mcuban
:
* Is a boomer (born 1958)
* Did an ICO called Unikrn and got sued in a class action lawsuit because it's down 99.5%
* Was looking into running for president
He thinks he can judge Bitcoin like it's on Shark Tank
Mark, Bitcoin doesn't care about your opinion
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"Career" is a euphemism for wage slavery. It's not something to aspire to, it's something to escape.
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USA: Pondering a trillion dollar coin to use as an accounting trick.
El Salvador: Harnessing volcano energy to produce
#Bitcoin
.
What's more honest?
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We've been waiting for the level-end boss for this cycle. I think we finally have one with the Canadian government.
If they can't stop
#Bitcoin
from going to the truckers, I think we easily triple in price.
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I just published “Why Bitcoin is Different”
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Government is becoming more authoritarian and we're starting to see more shortages. This is not unrelated.
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I expect Web3 will be rebranded soon.
@jack
has destroyed that narrative. In 6 months everyone at a16z will act like it doesn't exist. The lesson as always, VCs have something to sell you, they don't do anything from the goodness of their hearts.
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Stage 1: Bitcoin makes you wealthy
Stage 2: Bitcoin takes away power from the money printers
Stage 3: Bitcoin gives power back to the people
Stage 4: Bitcoin makes you self-sovereign
Stage 5: Bitcoin builds civilization
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Why Joe Rogan Avoids Bitcoin Discussions
Joe Rogan has sidestepped Bitcoin discussions for the past seven years, despite previously hosting Andreas Antonopoulous multiple times. What's stopping him from inviting more Bitcoin enthusiasts?
At the heart of it, Rogan simply may not
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2013: Silk Road
2017: BCH fork
2021: China Banning Mining
Extremely Bullish
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I'd rather have plebs with conviction than fickle billionaires.
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Just about everyone dunking on SBF right now. Where were they 18 months ago? It's easy to dunk on someone on their way down. It's much harder when they were riding high.
The only people that warned you 18 months ago were the
#Bitcoin
Maximalists. Still think we're toxic?
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Some noob, somewhere is buying XRP because it's cheaper on a per unit basis than
#Bitcoin
.
Let that sink in.
We're still way early.
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People that promote Proof-of-Stake as an alternative to Proof-of-Work never understood Proof-of-Work in the first place.
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Too many people make a category error when it comes to Bitcoin.
Bitcoin is not a tech play like Instagram where you have to constantly innovate to win.
Bitcoin is a monetary play like gold where stability and security are what make it valuable.
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#Bitcoin
requires a lot of patience to really understand.
Both nocoiners and altcoiners suffer from a lack of patience.
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Have you learned yet?
1. Twitter, Google, Apple, Facebook, etc. are trusted third parties.
2. Trusted third parties are security holes.
3. Bitcoin doesn't require a trusted third party.
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Year of first contact:
1985 Computer
1994 Internet
2011 Bitcoin
2023 Nostr
Yes, I'm putting Nostr at that level.
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Think about it this way, a 30% drop takes us to $23,000
I don't think anyone even blinks.
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My advice for Bitcoin noobs these days. If you're going to sell in 6 months when it doubles or halves, don't bother. If you're going to hold for 5-10 years, then yes, go buy.
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Bitcoin is not a technology
Bitcoin is not PayPal.
Bitcoin is not a database.
Bitcoin is not a startup.
Bitcoin is not some code.
Bitcoin is more than all of those things. Bitcoin is money.
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Money gets too much respect and execution gets too little.
Raising $20M doesn't make you a success. Neither does hiring a bunch of people or selling stuff you don't have yet. Ultimately you're judged by what you've made.
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Best things to eliminate according to my audience:
Toxic people/relationships
Alcohol/drugs
News/politics
Sugar
Wage slavery
Facebook
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When you're in debt, you constantly think about money.
When you're saving, you have freedom to think about other things.
#Bitcoin
is freedom.
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The whole point of Bitcoin is that there's no one that can rug you.
Every altcoin can rug you, this is why we say "Verify, don't trust."
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#Bitcoin
is a protocol, it's something anyone can use without any permission from anyone.
Altcoins are platforms. You are the product and need permission from those that control the platform.
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The more I study money, the more convinced I become that the world is about to embark on a bigger change than anyone imagines. The people who can anticipate these changes and act will be the biggest winners.
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The elimination of the WEF would change the lives of billions for the better.
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Anyone else feel like $100k is way closer now that we're in the $20k's?
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You don't need sugar. You also don't need altcoins.
Beef and Bitcoin
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7 Deadly Sins of Crypto
Pride - not admitting u are wrong
Greed - giving 💰 to scammers
Wrath - buying or selling emotionally
Envy - coveting other coins' gains
Lust - investing in stuff u don't like long term
Sloth - not getting in
Deceit - lying to yourself b/c u have a stake
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Bitcoin: come for the technology, stay for the economics.
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Goldman Sachs endorses ETH just after they announce imminent proof-of-stake.
They want the same unfair advantages they get in the USD system in ETH and the Ethereum Foundation gave it to them.
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El Salvador is safe. Here are some places where it's unsafe.
Chicago - Murders daily
NYC - Armed robbery in broad daylight
LA - Homeless living in tents everywhere
SF - Stores being robbed blind, defecation in the streets, drug use out in the open, etc.
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Just heard about this. Bitcoin has now surpassed silver as a store of value. BTC = $330B, AG = $320B hattip Mr. Voisine
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Announcement
#3
:
I am writing a book for
@OReillyMedia
titled Programming Bitcoin!
And yes, I want a honey badger on the cover.
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Today, we learned that politicians are as ignorant about
#Bitcoin
as mainstream journalists...
It really makes you wonder how many laws get passed that make lots of faulty assumptions and are done just for the sake of doing something.
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Here's something that's different this cycle. Alts are not claiming that they're going to replace
#Bitcoin
.
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Want to contribute to Bitcoin as a developer but don't know how to get started? Sign up for my course, where you'll make your own Bitcoin library from scratch!
You too can learn Kung Fu:
Click here to sign up:
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Bitcoin is to energy what AirBnB is to housing.
Both make use of unused excess capacity. The people spreading FUD are shills for industry incumbents that want to limit competition.
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You cannot serve both money and God.
In a debt-based monetary system, it's near impossible to not serve money.
#Bitcoin
is Christian money.
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Why do I get the feeling that in a month, I'm going to be told I'm a racist if I don't support the war in Ukraine?
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Finally getting around to coding some Taproot stuff into my library.
I knew that it was clever conceptually, but I now know the whole thing is designed very well.
Good job
#Bitcoin
core devs and everyone who helped make Taproot happen!
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The events of today make me suspect that the large discount on GBTC is because it's paper Bitcoin.
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Ethereum is as decentralized as that transgender swimmer.
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Please
@CoinMarketCap
can you list BTC in bits instead? I'm sure 1 bit being $0.015 would make it easier to transition. Also, you can put the price of other coins in bits as another view.
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#Bitcoin
has:
the scarcity of real estate
the fungibility of gold
the divisibility of USD
the portability of email
the durability, securability and unseizability of information
and recognizability which we haven't seen before.
There has never been anything like it in history.
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Due to PoS, every ETH owner is now incentivized to keep their keys online or keep their coins on exchanges. Besides being a huge security problem, there's now a non-KYC penalty.
Does this sound familiar? It should. This is how the fiat central banking system works.
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It takes minutes to buy Bitcoin.
It takes years to learn why.
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Saylor Moon
Is a speculative attack on USD coming soon? If it does, it's going to be a crazy sight to see. Every institution that can borrow will and essentially short the dollar by going long Bitcoin. The dollar will begin hyperinflating and there will be a lot of unhappy
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