Pretty interesting what social media becomes when you strip away the algorithms that capture and manipulate your dopamine system. I think this is healthy and worth the grind.

I wonder how future generations will analyze the current economic war. In the #automotive industry, the sequence over the last 20 years unfolded roughly like this: • #China lured foreign industry leaders into its market. It presented this as a win-win: Western domestic markets were saturated, and China needed know-how to industrialize. • Few resisted. Foreign investments flowed into mandatory joint ventures (the required structure until recent years). • For about 20 years there was relative peace: foreign OEMs celebrated their brilliance, scooped up profits in an ever-expanding market, while the Chinese learned to build cars. • China realized it could not beat foreign OEMs on combustion engines and transmissions, but EVs, autonomous driving, and digitalization opened a new battlefield. • The West—#Europe in particular, and #Germany most of all—fell prey to the climate agenda. It committed economic suicide by banning combustion engines and driving up energy prices. (I am not saying China orchestrated this, but they surely welcomed the development.) • Through clever economic policies and aggressive capital allocation (including reckless expropriation-like measures on their people), China funneled resources into the BEV industry, creating capacities to supply China, Europe, and the US—the only three markets that can absorb EVs at scale with potentially positive margins. • The US under Biden first recognized this as an attack and imposed 100% tariffs on Chinese EVs. Europe followed about a year later with additional tariffs of roughly 20–38%. • China understood the message and saw the threat of significant underutilization of its industrial capacities. • To defend those assets, China accelerated its ICE exit with penalties and subsidies favoring domestic BEV OEMs. This move risks rendering many foreign assets stranded. This is where we stand now. In hindsight, transferring billions in capital to a market without strong property rights protection was unwise. China invited #VW and others in, then pulled the rug out from under them. European OEMs especially have few good options left. The best may be to abandon/reverse the 2035 ICE ban and relocate as many stranded ICE production lines out of China as possible. Impairments will still be massive, but China also faces limited great options: to avoid writing off its own assets, it must maximize domestic utilization and export surplus to markets like #Brazil—with limited purchasing power to absorb them. #economy #cars #tradewar

Asking a government to be less retarded is like asking a fish to swim less. Theoretically possible, but in practice it’s just what they do 🤷‍♂️.

If you think you are the smartest person in the room, you can be sure you are not.

The fish doesn’t see the water it swims in. It can only distinguish different water temperatures but has no concept of air. Only the crazy fish reach the shore and grow legs.

💯 Politics is just the poorly socialized kids who tried to force everyone else in the sandbox to follow their rules finally seizing power as adults. Only way to be left alone is to stop playing with them…

“The tree of liberty must be refreshed from time to time with the blood of HODLers and Fiat retards.” Not Thomas Jefferson

Nobody is zero BS, try to by low BS at least.

Very well said. I’ve come to believe that #Bitcoin is no longer fighting a technical battle… that’s settled; it works. It’s also not fighting a financial battle. As much as everyone hates it, the fact that the suits are here proves that battle is won too. The only important war still raging, and I believe it’s eternal, is over Bitcoin’s philosophy, its soul. That this war is currently fought so viciously is not a bug but a feature. It shows Bitcoin is still alive and well. No actor in the space, no miner, no BIP, no other authority, will lead the way here. Every node on the network is responsible for what they want Bitcoin to be. Act accordingly, whatever that means for you. The results will punish or reward our actions.

On Money: Argentarius: Letters of a Bank Director to his Son (1921) Obviously not an explicit Bitcoin book but therefore maybe even more powerful considering when it was written. It explains the entire philosophy of #Bitcoin.