Archive for the ‘bitcoin’ Category

The Bitcoin Schizo Curve

When I bought some BTC in the fall of 2015 I was fully aware that I might lose my entire investment in the new, fledgling technology. Before I bought in I quickly discovered that there were several massive, eye-popping, price crashes prior to 2015. Nonetheless, the promise of a booming return coupled with a better future for millions, perhaps billions, of disenfranchised people across the globe led me down the Bitcoin rabbit hole. My intent was to be a long term HODLer but that was sort of derailed when I was diagnosed with stage 4 cancer the following year. πŸ™‚

Since there have been 7 huge crashes between my original buy date and this week’s crash, I was not particularly crestfallen by the 50% Bitcoin price crash. You know how the saying goes: “been there, done that!”. I do sympathize, however, for the noobs who jumped into BTC near the $64K high just a few short weeks ago. It was simply bad luck in timing… but only in the short run. If you didn’t panic sell and get rekt, then just be patient and HODL your way through the current downturn. Set your sights on a bumpy 4 year HODL before thinking of selling any BTC for large purchases like a house, boat, education, car, etc.

As far as I know, no other asset class has ever gone from 0 to $1T in market capitalization as fast as the king of crypto. The tradeoff for this high growth rate has been the “V” word – volatility. The scary chart below clearly shows the Bitcoin schizophrenic price volatility endured by HODLers through the years.

All the hard core Bitcoiners I follow say that Bitcoin’s price volatility will decrease with time when the slope of the classic technology adoption “S” curve it’s following starts the flattening phase. I believe that too, but I was wrong in thinking that the softening had begun when institutional investors started buying Bitcoin last year. As you can tell from my hard science-derived graph below, Bitcoin has many more schizo gyrations to go before it settles into a boring, stable, financial asset.

To the gold bugs who think Bitcoin’s extreme volatility disqualify it as a store of value, have a looky here. Behold the extreme volatility of your beloved shiny rocks during the hyperinflation runup in Weimar Germany.

Categories: bitcoin

Bitcoin, Reservoirs, Refrigerators, And Batteries

Bill Maher went on a lazy ass, anti-Bitcoin rant a couple of weeks ago on his show. Since Bitcoin is proudly 12 years old and no new, unexpected FUD has popped up for several years, there was nothing new in Bill’s misinformed soliloquy. He should invite a prominent pro-bitcoiner like Michael Saylor, Dan Hodl, Jimmy Song, Goaty McGoatface, or Andreas Antonopoulos to come on his show in the future to joust with.

Bitcoin poet Michael Saylor was invited on KITCO news to rebut Mr. Maher’s well worn criticisms of Bitcoin, one point at a time. Just listen to how Saylor eloquently destroys each of Bill’s superficial misstatements. If you’ve never heard Michael wax eloquent on Bitcoin and its future, you’re in for a treat. So, keep your perv eyes and thoughts away from the hostess and absorb what the bard of bitcoin has to say below.

Of particular interest to BD00 was Saylor’s genius takedown of the old Ponzi scheme, “greater fool” theory, previously spewed by Munger/Buffet and other high profile rich dudes averse to having their feeding trough rekt by Bitcoin.

It goes something like this:

  1. People store water in a reservoir not because they want to sell it to an outside “sucker” at a higher price. They store it because they may need it badly in the future to mitigate catastrophes.
  2. People store food in a refrigerator/pantry/freezer not because they want to sell it at a higher price to someone else later on. They store it there for their own personal consumption at a future date.
  3. People don’t store electrical energy in batteries to sell them to a greater fool at a higher price later on. They store it to personally use it later on.
  4. People store economic value in newcomer Bitcoin and ancient gold to personally hedge against incompetent governments and central banks from exploding traditional fiat-based assets, savings and rekking their citizenry. Some people (traders, speculators) sell Bitcoin to others at a higher price, but that’s true of owners of any asset.
Categories: bitcoin Tags: ,

The Bitcoin Usurping

April 19, 2021 Leave a comment

Since the USD is the world’s reserve fiat currency, it is the preferred medium of exchange for international trade settlement. Everyone wants USD for now, but the Bitcoin “usurping” is looming.

The figure below shows the preference for USD over local crap currencies when goods are traded between nations. Even though every country (including the US) debases their fiat currency by printing more of it whenever it’s politically convenient, the relative stability of the USD has kept it in the pole position for decades.

Since the US federal reserve continues to print fiat like there is no tomorrow ($5T for the current bailout (so far) vs. a measly $800B for the 2008 bailout), the continued stability of the USD is being questioned. Because Bitcoin cannot be debased by minting more than 21M coins, and its usage is a way to efficiently bypass the archaic, US-dominated, SWIFT protocol network, not many nations want the Bitcoin usurping to fail; especially China and Russia and all the countries being financially surveilled and sanctioned by the US.

As a US citizen, it gives me no pleasure to graphically show you the impending, step-by-step, Bitcoin usurping of the USD as the medium-of-exchange for international trade.

I have no idea when, or how fast, the usurping process will unfold, but odds are high that I won’t be around to see it. That’s ok, because I don’t think it’s going to be a violence-free, globally-coordinated, process. The US will not sit idly by and watch their greatest lever of international power dissolve in real time. But hey, don’t fuggedaboud this….

Categories: bitcoin

A Detour From All The Giddiness

April 15, 2021 Leave a comment

I feel the need to make a detour from all the giddiness in the Bitcoin community to broadcast an update on my physical condition. I’ve been waking up more and more with my Feet On Fire (FOF) right out of the gate. It’s concerning because FOF usually takes some time to manifest after I wake up. I’m convinced the Emperor likes to give me a false sense of security on each sunrise before the fucker pours on the gas and lights the match.

Elevated dizziness, right leg instability, and tinnitus always accompany the FOF blaze in lock step with each other. Of all these symptoms of an inflamed brain, FOF is always the worst because it’s painful instead of annoying. My attention is constantly being hijacked by the Emperor and redirected towards the pain in my feet on the worst of days. The bastid!

Even though my brain MRIs have shown no progression of existing tumors, nor no new tumors for 2+ years, the chemo-induced peripheral neuropathy in my feet and the tumor-induced numbness in my right leg have been inexplicably advancing. The neuropathy in my feet used to be localized to my toes and lower foot. Now it has advanced up past my ankles and into my calves. It feels like I have a pair of numbness Bombas socks on. Thankfully, the actual pain has stayed mostly near my toes, but the vibrational numbness has crept upwards like the vines on an elitist Ivy league school building.

The numbness in my right leg has been advancing upwards too. When it reached my hip I magically thought it would stop. Nope, it kept inching up and directly into my right ass cheek. The weird thing is that my ass cheek is now sore all of the time, not numb. It feels like someone punched me hard in the cheek.

I’m already on the max dose of gabapentin (600 mg X 3) my pain doctor is comfortable with, so the best way I found to fend off the pain on the really bad days is to start my cannabis regimen much earlier in the day and be prepared to take a second, 10 mg, dose later on. The best way I can describe how cannabis helps my condition is that the THC/CBD potion serves as a comforting buffer between the Emperor’s FOF inflicted pain and my feet. It mimics Dikembe “Not In My House” Mutumbo and temporarily blocks the Emperor from relentlessly redirecting my attention back to the pain in my tootsies. No one wants to think about their stinky feet all day! The flipside is that I have to be extra vigilant of not falling when standing/walking, especially on inclined surfaces.

Categories: bitcoin, Cancer, Cannabis

Creatively Destructed Out Of Existence

April 12, 2021 2 comments

It seems like the anti-Bitcoin argument with the most traction these days is the network’s massive consumption of carbon-based coal/oil/gas generated electricity required to mine the unforgeable scarcity that is Bitcoin. It’s the “boil the oceans” theory. The best counter-argument (other than it takes more energy worldwide to mine/refine/transport/secure gold) to date is that Bitcoin miners are continuously searching for the lowest cost electricity in order to maximize their profits, and that search will catalyze the move to clean energy.

Since the laws of physics limit the distance over which electricity can be reliably transported, Bitcoin miners who want to stay in business set up shop as close to electricity-generating sites as possible. Unlike a city, which is geographically spread out and requires expensive infrastructure to reliably dispense electrical power (just ask Texas), a Bitcoin mining farm is physically concentrated and can be easily mobilized if designed correctly. Plus, in order to avoid pumping the price of precious electricity by competing with city consumers, Bitcoin mining farms tend to migrate to remote areas displaced from large populations.

Perhaps the biggest plus for Bitcoin’s increasing acceptance and adoption is that with carbon taxes raising the price of fossil fuels due to the human race becoming more woke to the threat of CO2-based climate change, the king of crypto is incentivizing astute nations and energy companies to minimize the price of their competing renewable Solar/Hydro/Wind energy systems.

Make no mistake, since Bitcoin ain’t goin’ away any time soon, there will be big $$$ winners and losers in the brave new Bitcoin world. Those dumbass countries (like India) and poorly run energy companies who don’t get their acts together quickly, and who don’t put a big r/wallstreetbets squeeze on the extraction of fossil fuels from mother nature, should follow the architecture roadmap below. Otherwise they will be creatively destructed out of existence.

Let’s go horizontal and zero in on the dirty players just to drive the point home to the “Bitcoin will boil the oceans!” Klan of Karens who troll the social media sites. It’s up to the student to determine the “now” and “then” dates of the vanishing.

Categories: bitcoin

My Expiration Date

Uh oh! It looks like the EOAM has informed the state, which has subsequently informed me, as to when the dirty bastid will be expiring my being as a temporary, integrated, bounded, magical, miniscule, cluster of universal energy on this earth. The Emperor is being a showoff by specifying the exact day and time at which BD00 will cease to function. His wickedness has me scheduled to croak on my personal doomsday one minute before midnight. I hope he’s waaay behind schedule (and overbudget) like the trillion dollar F-35 fighter jet fiasco.

Speaking of doomsday, here’s the Bitcoin advert for this post…

All the woke companies in the pic have courageously stepped into the Bitcoin Zone. The unwoke companies will soon face doomsdays of their own unless they follow the leaders into the BZ.

Categories: bitcoin, Cancer

Ploddingly Slow, But Thorough

April 5, 2021 7 comments

I cracked open one of my C++ programming books recently and started leafing through it in the hope of stirring up some warm memories of my use of the language to wrestle embedded systems problems into submission. Instead, I immediately experienced a moment of existential horror! My cherished language of choice all of a sudden looked like an intimidating, unfathomable, encrypted mess. I thought for a moment that I was having my second stroke.

It’s scary at how one can forget so much so fast unless one arduously burns calories to maintain a high level of competence in an area crucial for putting food on the table.

After regaining my bearings, I realized that most programmers who know other languages but don’t know C++ experience an instance of the same abject terror when they scrutinize C++ code for the first time. It’s too bad, but it is what it is.

Before my life was abruptly upended by the Emperor, I used to be a ploddingly slow, but thorough, C++ programmer. But as anyone who has read this blog quickly discovered, I ain’t never been no genius. I had to work much harder and longer than most to become a C++ craftsman. Malcolm Gladwell’s “10,000 hours to become a subject matter expert” threshold to prosperity is too low of a bar to apply to dumschitts like me. I needed 2X the time to become internally confident that I was an excellent C++ programmer. It was a difficult but satisfying road to travel because my mind was richly rewarded with the excitement of learning something new whenever I danced with C++’s exquisitely rich feature set and its “std::” (affectionately pronounced as “stood” πŸ™‚ ) libraries in my head.

While coding away on problems, I was always thinking in the background about what I could do to help future maintainers understand the code ASAP so they could get something done without getting frustratingly stuck. I’m embarrassed and sad to admit it, but it was more of a classic, fear-based, ego-driven mission than an altruistic one. I was afraid of feeling like schitt whenever I envisioned colleagues reading my code. I yearned for everyone who read the code to say “Wow, I wish I knew this maestro!“, instead of “WTF!” after every few lines.

To drill deeper into what I’m exposing here about my dark passenger, I was firmly in the clutches of the “impostor syndrome” for most of my undecorated career. But hey, despite the fact that Stroustrup, Sutter, Meyers, Josuttis, Kalb, Lavavej, Lakos, Williams, Carruth, Niebler, Boehm, Alexandrescu, Gregory, Davidson caused my cancer ( <– just joking), it was a fun, multi-decade, journey down the C++ rabbit hole. I’m extremely gratefuI that all of those wonderful teachers took me along for the adventure.

In closing out this post, I remembered the need to blatantly include some Bitcoin propaganda in it. So, say ‘ello to my leetle friend…

I wish the tat was orange instead of black, but the artist didn’t have any orange ink in her pallet. I’ll make sure my upcoming neck tat is full Satoshi orange though.

HODL In Hell!

April 2, 2021 2 comments

While posing for my future wake, I sensed the ice cold presence of the dastardly Emperor Of All Maladies in the room. The repugnant monster has a dilemma on his creaky, boney hands when it comes to BD00. He doesn’t want to drag BD00 off to hell until he gets those claws on his Bitcoin private keys. But BD00 will never give them up. They’re gonna burn with him in hell.

BTW, does anyone know where I can get a Bitcoin couch to add to my swag collection? I checked on Wayfair, Ikea, and Etsy, but alas, it’s a no go.

Update: 1 Hour After Publishing

My good friend Jeff just sent me the link to this beauty…

It’s on order!

Categories: bitcoin, Cancer

The Badger And The Reaper

March 26, 2021 Leave a comment

As Elton John and Bernie Taupin bring beauty and grace to music, the Bitcoin badger and reaper bring beauty and grace to hard money. The fiat-based, QE-crazed, financial systems of the world don’t stand a chance against the Bitcoin badger and reaper. The badger relentlessly rips ’em up, and the reaper slowly drags ’em away.

Categories: bitcoin

Zapped By Xapo

March 24, 2021 Leave a comment

The very first Bitcoin book I read in 2015 when I discovered and started grokking Bitcoin was Nathaniel Popper’s prophetic “Digital Gold. One of the heroes in the riveting read is wealthy Argentinian entrepreneur Wences Casares. Wences is the CEO of Xapo Inc, a Bitcoin wallet startup. Xapo is believed to hold as much as $10 billion of Bitcoin in underground vaults on five continents, including a former Swiss military bunker.

Since Argentina’s government was/is quite corrupt and poorly managed, Wences’ family lost all their savings not once, not twice, but three freakin’ times due to the hyperinflation-driven collapse of Argentina’s fiat currency, the shitzo, uh, I mean the peso.

While reading the book, I went to Xapo’s web site and created an account to further develop my understanding of the emerging “Bitcoin ponzi scheme“. During account signup, I was awarded 100 microbits (aka 1000 sats) as a signing bonus. After I learned that the only way to buy Bitcoin via Xapo at the time was by international wire transfer, I said fuck it, no way I’m gonna jump through hoops to get some bitcoin.

So here we are 5 years later and I get the following letter from Xapo…

LOL! Big brother is always quietly surveilling its citizenry in the background searching for new ways to confiscate its wealth in the name of “we’re only here to help you“. With my deteriorating mental and physical health, I am now in fear of being transformed into a paranoid, batshit crazy, dumbass, conspiracy-believing, Qwacko. If I rebrand myself as BDQQ, then you’ll know the rebirth is complete. If so, please help!!!!

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