My Speculative Fiat Attack Fantasy is Over! \ stacker news

Good morning.

Last night I went through all of my Fiat debt and Bitcoin holdings. I'm absolutely embarrassed by the Fiat debt. It's astronomical for me.

However...

At least now I can see the reality and the numbers. Regardless of what "others are doing" it's my trap that I've entered and now I recognize my slavery for what it is.

So...

I make it part of my spiritual journey to liberate myself from this slavery. The tools are available and I have the freedom to use them.

The Good News...

I had already figured out how to use GnuCash to track my Bitcoin and I'm glad that I revisited this in combination with my Fiat usury. I've learned that at my current holdings I would have to hope for a Bitcoin buying power of $1,000,000 just to break even! That means that in today's USD buying power I would hope that doesn't change but it will. They will increase the supply of USD.

So my debt is USD defined and my current earnings are in USD which my earnings have to pay for current and future USD prices.

Interest rates, inflation and taxes will increase. My Bitcoin will also increase in buying power but it currently will not outpace my debt. I have to increase my stacking and I have to increase my paying off of my Fiat debt.

Using GnuCash I was PLEASED to see that It actually can be done! I can budget. I can see the data and I can respect my earnings instead of pissing them away and hoping for a miracle.

I'm able to work. I'm able to work faster than the value of my debts and the increased price of Bitcoin. This means I must cultivate my Bitcoin and earnestly reduce my Fiat debt... Totally possible.

I'm hearing people say that a "speculative attack using Fiat debt" is possible. You're fooling yourself. You are not that smart. I've already been there and if I wasn't FIAT smart to begin with, how could I be with Bitcoin? The answer is that I still have to keep score even if the game is rigged.

I've wanted to do a write up on using Bitcoin with GnuCash so maybe I will.

169.5k sats \ 0 replies \ @ChristinaWoodardZHJ 30 Jan 2024 freebie

But no, this isn't the real reason bitcoiners tend to wish for the end days. It's just easier. A dollar collapse spares us from the actual hard work of educating people, answering dumb questions about blockchain, building L2s, and scaling bitcoin. If the world ends tomorrow, it allows us to feel superior without doing anything.

Oh wow, is this my alt?

Nah, I'm kidding. Seriously though, watching other people come to the same natural conclusions (and writing articles about them) is a heck of a thing to watch.

And we're part of the problem. As long as we're taking out promissory notes in dollars, we're creating demand for the world's reserve currency. My liabilities are someone else's asset to balance against their liabilities. So it goes.

You can rationalize it however you want: fiat loans with bitcoin collateral, speculative attack, get on zero, asymmetric trade, etc. But what you resist, persists.

ARE YOU SURE YOU'RE NOT MY ALT??? lmao