T.T. 64: time for fireworks
"You can just do things" >>> "monitoring the situation"
Hola amigos,
Greetings from D.C.
A lot has happened since my last post.
One thing is similar though…
Yet another Bitcoin All Time High!
(this time up to $118k)
But there’s MUCH more to catch up on.
The past month has been insane for many reasons. I even feel compelled to address some of the negative news briefly.
The rest of this 3129 word post, however, will emphasize why and how I’ve shifted my focus toward building on positives — particularly in areas that are actually within my control.
Let’s dive in.
Topic list:
Independence Day
“Monitoring the situation”
Bitcoin price action
Firing my work (I got a better job)
Economía Bitcoin progress
Fireworks and lifeboats
Independence Day
Hating the U.S. is popular these days.
And to be fair, despite often disagreeing with the haters, on some points I get where they’re coming from… I’ll get into some of the problems the U.S. is facing in my next section.
That being said, I still LOVE many things about my home country. And its founding principles were the greatest of any nation in history.
So I’ll start by emphasizing why I love America!
In fact, on Independence Day, the Bitcoiner networking company Orange Pill App offered a challenge:
“Tell us why you love America
Best reply wins 1776 sats”
Here’s my reply that won the challenge:
Inalienable rights.
Independent of external authority.
With entrepreneurial culture… upward mobility… and the most Bitcoiners of any country in the world!
(El Salvador probably has the most Bitcoiners per capita, but the U.S. almost certainly still has the most in total)
These qualities might not all be unique to the United States, and they may not all be as true here as they used to be anymore… but nowhere else, before or since, has done it better than the Founding Fathers’ vision.
I could elaborate, but I want to keep this post reasonably short. Instead I’ll just briefly touch on the biggest reason behind the Revolutionary War:
The British Empire had raised taxes on the American Colonists to pay off debt from their Empire’s endless wars abroad.
Sound familiar?
If you haven’t actually read it in a while, The Declaration of Independence is worth rereading.
And I’ll briefly highlight two lessons from that era:
Sometimes you need to revolutionize (ideally in a peaceful way) the place where you are.
Other times — like when the American colonists left oppression in Europe — you need to pioneer freedom in new lands.
Personally, I respect both paths.
Segueing a bit here, Josie The Redheaded Libertarian — one of my favorite prominent liberty advocates and Revolutionary Era scholars — has a great 10 minute video on the Timeline of the American Revolution.
And speaking of TRHL… she was just on Timcast again recently. But more relevant to this 4th of July post, it feels like a good time to reshare her Spaces With Josie episode from December 2023 on the 250th anniversary of the Boston Tea Party.
Josie started that episode by covering that legendary day’s history, but then she graciously accommodated as Grant Cardone, Clint Russell, and I turned the conversation for about 40 minutes toward economics, real estate, and Bitcoin.
The hyperlink above is to hear the full 3 hour Space directly within X. Here’s that episode link on Spotify as well:
Grant Cardone is also interesting to highlight here as a segue.
For one thing, he owns a real estate portfolio worth several billion dollars.
He also recently spoke at The Bitcoin Conference in Vegas about how he’s integrating Bitcoin into his cash-flowing real estate investment strategy.
It was a great speech!
He also just added $11 million worth of Bitcoin to his company’s treasury, and yesterday announced plans to add over $100 million more of Bitcoin.
More relevantly to this segue though, Grant has millions of followers on social media, and only follows back a few thousand… one of whom is yours truly.
That means that Grant Cardone is also the most prominent vector through which I’m only one degree of separation away from President Trump himself.
They’ve met several times, including Trump’s most recent New Years Eve party at Mar a Lago, but also notably for this interview at one of Grant’s (sold out) business conferences:
I bring this up not to brag (okay, maybe a little bit), but primarily to emphasize that I don’t have Trump Derangement Syndrome.
Because I’m not gonna sugarcoat things in the next section…
I know some of my readers are loyal supporters of President Trump. If you consider him above any criticism, you might want to stop reading now. If you also don’t have any Bitcoin yet, go read my last post instead, or just skip ahead past this next section.
“Monitoring the situation”
This phrase became a meme recently.
Specifically, it was popularized during the latest WW3 scare a few weeks ago… when Israel attacked Iran with “preemptive” missiles, Iran responded with their own missiles, and then the U.S. launched missiles at Iran.
It very nearly got very, very bad.
Credit where it’s due though before any criticism: thanks to Trump’s diplomacy, and thanks to Iran’s restraint in their retaliation, things deescalated for now.
But that was a ridiculously close call.
These days I try not to focus on things outside of my control, so I won’t go into much detail here…
I won’t even elaborate on how another person who follows me on X, Scott Horton, was just on Tucker Carlson’s show.
Or how another person who follows me on X, Congressman Thomas Massie, was just on popular comedian Theo Von’s podcast.
I mostly try to stay out of politics now.
But I do feel compelled to at least list some bullet points why MANY people within Trump 2024’s winning coalition feel increasingly betrayed over the past month:
~May 30th: Trump tapped Palantir to increase spying on U.S. citizens (further violating the 4th Amendment) by centralizing separate federal databases
“no new wars” —> bombed Yemen and then Iran
“Make America Healthy Again” —> the FDA just approved MRNA covid jabs for little children, who were always the least at risk… meanwhile psychopaths like Fauci still aren’t in Gitmo yet for funding the gain-of-function research in Wuhan that gave an excuse for their subsequent medical terrorism
D.O.G.E. and fiscal responsibility —> $5 trillion increase to the national debt in the “Big Beautiful Bill” while alienating Elon Musk and true America First libertarian/conservatives like Congressman Massie
And last but not least…
transparency about the Epstein List and (CIA/Mossad-linked???) blackmail ring of world leaders —> “the list doesn’t exist” and “why are you still asking about this?”
…sigh.
Never put too much trust in politicians.
The charitable interpretation is that Trump is playing the long game, with some “5D chess” angles that we can’t see yet.
One example of that, to be fair:
When I started writing this post on Thursday, I included a bullet about President Trump pledging earlier this week to send new weapons to Ukraine — the Democrats’ favorite corrupt money-laundering country — after repeatedly promising to “end that war in 24 hours” during his campaign.
I removed that bullet because news came out yesterday that Europe will be paying 100% of the cost for those weapons. I still don’t like any involvement in that war at all, but at least profiting instead of funding it is a reasonably “America First” approach.
I won’t go further into the other points.
Those still seem unequivocally very bad.
For now, I’ll just emphasize that if President Trump doesn’t start showing MUCH more positive results soon… the midterms next year will be a Blue Wave, and Republicans will no longer have majority control in all three branches of government.
On the bright side?
At least he followed through on his promise to free Ross Ulbricht, and at least he stopped the Biden Administration’s attacks on the Bitcoin industry.
Speaking of positives and Bitcoin…
Bitcoin price action
Boom.
The price reached a new All Time High of $116k on Thursday when I started writing this post.
Then overnight it just passed $118k!
In my post last month, I finally mentioned the correlation with global M2 that’s become well known among Bitcoiners… only for the price to promptly crash because of the WW3 scare.
In my defense, I did warn readers not to treat this correlation as a certainty, because Bitcoin has a history of breaking models.
Fortunately for me at least, this dip worked out PERFECTLY in my favor anyway. I finally — after 10 months of working 70+ hour weeks — got back to my minimum stacking goal!
I hope you all bought the dip too…
Because it looks like the correlation with global money supply might be getting back on track now:
I hold this truth to be self-evident…
Not all money is created equal.
All fiat currencies are designed to lose purchasing power over time, as central banks increase their supply without limit.
That’s why ALL fiat currencies eventually fail.
Bitcoin, as the most perfectly scarce form of money in history, is designed to soak up the excess liquidity as more and more fiat enters the system.
And yes, $118k might seem expensive.
But do you really expect this trend to stop?
The U.S. national debt surpassed $37 trillion dollars since my last post a month ago. The Big Beautiful Bill was officially passed last week, despite everyone knowing it will increase the debt by another $5 trillion.
And now President Trump is turning up the pressure on Federal Reserve chairman Jerome Powell to either resign or cut interest rates.
Critics of Bitcoin used to claim that it was just a low interest rate phenomenon… that it couldn’t survive rate hikes… and for a while, to be fair, that theory might have seemed plausible.
Not anymore though.
We just smashed the All Time High DESPITE rates remaining near 5%.
But there’s no denying that Bitcoin — and the stock market, but especially Bitcoin — has historically boomed most when rates are lower.
So here’s the situation:
The debt is guaranteed to increase. When the Fed cuts rates, inflation is also guaranteed to increase.
Lawrence Lepard is correct.
The Big Print is coming…
And therefore BTC is just getting started.
It’s not too late to Declare your Independence from fiat.
Central banks steal your purchasing power with the hidden tax of inflation at a higher rate than the taxes that prompted the American Revolution.
It’s also no coincidence that many of the Founding Fathers opposed paper money and debt. The article in that link features quotes on the topic from Thomas Jefferson, Benjamin Franklin, Thomas Paine, Samuel Adams, and other founders all opposing fiat currency.
Bitcoin is the best way to opt out.
Bonus book link:
“Bitcoin and the American Dream”
P.S.
I’m not even addressing the major increase in corporate adoption of Bitcoin treasury reserves, or how Emirates Airlines just started accepting Bitcoin as a medium of exchange to pay for flights. But stuff like that is still happening every month now.
Firing my work
I have a significant personal update:
I decided to leave my job two weeks ago!
And no… despite memes like this going around on Bitcoin Twitter the past couple of days, it wasn’t an impulsive decision just because of the new All Time High.
(I don’t have nearly enough Bitcoin yet to retire anytime soon)
Prior to quitting, I already lined up a new job, which I’ll be starting on Monday. Before getting into that though, I’ll briefly overview the many reasons why I left my last role.
The first and foremost factor that prompted me to reevaluate it was health.
Two of my friends died just a couple weeks apart in May. I attended the funeral in Berlín for one of them (RIP Tim).
Soon after that, I caught a flu that was going around the office. I didn’t exactly love being pressured to still come to work while contagious.
Then I saw major news stories about several famous people — including Dilbert creator Scott Adams (with whom I also spoke once on another Spaces With Josie episode) and Joe Biden — being diagnosed with cancer.
Skin cancer runs in my family.
Even though I’ve benefited a lot from 10 months doing door-to-door sales… suddenly, being in the sun all day (including in the recent 100 degree heat wave) became significantly less appealing.
What’s the point of sacrificing all my free time to stack more sats if I die young and never get to enjoy any of it?
Furthermore, my office’s rate of churn for new customers had gone up. Some of that was from a few of my coworkers misleading people just to reach quota… but also, this particular cell service provider (one of the big three) still isn’t very good in many parts of the DC area.
As a result of the increased churn, our office’s commissions per sale were reduced, and the type of customers we could sign up also became more restricted.
And our boss (whom I still respect overall, to be fair — she’s the same age as me and on track to earn $2 million this year) increased our hours in response. And our new office expansion to San Antonio got delayed yet again.
Lower commission + fewer customers + more hours + delayed promotion is not a winning formula… especially after I finally hit my minimum stacking goal anyway.
On top of all that, the time was right to leave the telecom industry.
I got into it because telecom is ideal for learning sales: it’s a “rip-and-replace” type of sale, simply offering a better deal for something that everyone already pays (“mid ticket” price range) for anyway, in one of the most ubiquitous (and recession-proof) industries.
But there are good reasons why so many people hate telecom corporations. In addition to the hidden fees and atrocious customer service… they also work hand-in-hand with intelligence agencies.
The following two examples used to be dismissed as “cOnSpIrAcY tHeOrIeS” a couple years ago.
Now they’re not only confirmed openly, but even actively used as part of these mega-corporations’ marketing.
When I saw mass surveillance becoming product features at the same time as I was reflecting on all those other strong reasons to move on anyway… that was the final straw.
Your router spies on your movements.
Your phone is the fishhook for Digital ID.
I want no part in this mass surveillance.
I really like technology when it enhances freedom and human flourishing… not so much when it enables technocratic tyranny beyond Orwell’s worst nightmares.
Bitcoin is really good for freedom.
I’m still happy to promote its adoption!
But for my fiat day job, I’m done selling products for which ethics undermine my conviction that I’m truly helping customers.
Fortunately, I received multiple job offers, after acing each of the interview opportunities I received.
Life insurance job offers were particularly easy to get, and that industry can be extremely lucrative… but I ultimately decided to switch to the metal manufacturing industry.
It’s still sales.
Still business-to-consumer.
But now I’ll be working fully remote, with inbound leads that opted in, with a product that actually works consistently and costs exactly as advertised… all without spying on its users.
Starting on Monday, I think I’ll finally have a fiat mining day job that I can actually feel good about.
What’s not to like about reliable structures with strong steel made 100% in the USA?
And since it won’t demand 70+ hours, six days a week, anymore… I’ll also have more spare time to keep advancing my passion project for making the world a bit more prosperous and a bit more beautiful.
Economía Bitcoin
There’s a lot going on behind the scenes.
The speaker lineup, sponsorship funding, and event production logistics are all coming together nicely… and we still have over 4 months to spare.
For context, that equals the entire length of time we had when planning the debut event: from an idea around January 1st 2024 to a successful conference on April 8th.
We’re way ahead of the curve this time!
I’ll share more detailed updates soon.
Among other things, I’m nearly done with a ~400 word announcement post that we’ll be putting on Bitcoin Berlín’s website as well as a couple of external Bitcoin media sites that offered to help distribute it.
I’ll probably do a very short post on this Substack next week with a link to that.
For now though, I mostly recommend just following the X account and YouTube page for Economía Bitcoin.
I’ve started uploading the full talks and panels from last year’s debut event to YouTube, paired with short clips from each talk on X.
Check those out — they’ve been getting good traction and feedback — and stay tuned for more updates!
Fireworks and lifeboats
Since I finally had some time off these past two weeks, I’ve finally gotten back to actually enjoying life a bit more again.
Say what you will about D.C., but it’s one of the best places in the country to spend the 4th of July.
For only the second time since I was a little kid, I went downtown for the fireworks!
Then over the weekend, I went canoeing with family on the Shenandoah River in the Blue Ridge Mountains, one of the most beautiful parts of the country.
(It was fitting that we spotted a bald eagle over the water two days after the 4th of July)
The very next day, my Bitcoiner friend (and reader of this Substack series) Michelle Weekley happened to be in D.C. for an AI + crypto conference. I was back from the mountains, so we were able to catch up over dinner downtown.
This picture might age well as foreshadowing with Bitcoiners just outside the U.S. Treasury building…
And at the time this post is scheduled for publishing Saturday morning, I’ll be on my way to the first D.C. Bitcoiner meetup I’ve been able to attend since before starting my last job 10 months ago!
31 attendees have RSVP’d, and we’ll be drinking Salvadorian coffee while discussing Bitcoin:
Starting on Monday, I’ll be very busy again for the foreseeable future, balancing my new job along with Economía Bitcoin planning.
I think I’m even going to go fully sober again, at least for a month or two, to build up the strongest possible momentum.
But I wanted to emphasize this in closing:
Life is short.
Money is supposed to enhance your life.
I’m still focused on stacking sats and enhancing freedom for the world where I can… but I’m generally done with selling my soul to work overtime on things I don’t believe in. I’m generally done with having zero time for family or friends. I’m generally done with dwelling on things outside of my control.
“Monitoring the situation” is mostly a waste of time.
“You can just do things” is the way.
And if factors that you can control are holding you back… don’t be afraid to Declare your Independence from them.
You write so well and despite all you are doing, you certainly put some time into this. Thank you! I didn't know you lost not one, but two friends, and I am sorry...and happy to hear that you got the sats stacked you wanted and are focused on more alignment with your work and your heart as that is a beautiful thing that is also quite inspiring. Glad to see you getting famous as well as that seems to be a way for you to help change the world for the better. You go!