Stuffy stuff.
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@ -9,10 +9,10 @@ plan and details are explained. That will get you in context.
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## Stats
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- BTC stack: ??? BTC
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- € stack: 22633.80 €
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- Current total value in €: ??? €
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- € into BTC: 10,000 €
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- BTC stack: 0.4183 BTC
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- € stack: 22611.80 €
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- Current total value in €: 31563.42 €
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- € into BTC: 10,052 €
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- Paid back to bank: 366.20 €
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- Outstanding debt: 43578.13 €
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- Installments to go: 119
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@ -69,9 +69,9 @@ deeper on this situation, it is nicely explained in the last book from Saifedean
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Ammous, [The Fiat Standard](https://en.es1lib.org/book/17416829/6f3cac)).
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So that's a brief summary. I am grateful that I started in traditional investments, even with all the flaws and risks
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associated that come with it. Because it was good training to:
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associated. Because it was good training to:
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- Getting used to see your networth dance up and down through the chart.
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- Getting used to see your net worth dance up and down through the chart.
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- Doing research, judging an investment, drafting a plan and sticking to it.
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- Growing confidence in the decisions that you make by accepting that shit might hit the fan, but that's part of life.
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There is always uncertainty and, if you are trying to find a way to be 100% sure that things will turn out right
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63
evangelism/episodes/episode_3.md
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evangelism/episodes/episode_3.md
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# Operation Saylor Episode - 3/120
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Hi again and welcome to another episode of the Operation Saylor. This is update number 3, corresponding to September
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2022.
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If you are reading this for first time, you might want to check [Episode 1](https://stacker.news/items/47539), where my
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plan and details are explained. That will get you in context.
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---
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## Stats
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- BTC stack: XXXXX BTC
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- € stack: XXXXX €
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- Current total value in €: XXXXX €
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- € into BTC: XXXXX €
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- Paid back to bank: 732.40 €
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- Outstanding debt: 43211.93 €
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- Installments to go: 119
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Charts
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- BTC churn chart
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- Value of stack vs Outstanding debt with the bank
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---
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## Log
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This past month I read through Jeff Booth's [The Price of Tomorrow](https://b-ok.xyz/book/5521985/be464d). It was an ok
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read. I must confess I was very hyped about it since Jeff's appeareances in different interviews and podcasts are
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great, and everyone and their mother say that the book is brilliant, but I was not that impressed. I felt the book
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covered the idea that we are heading towards a tremendously deflationary era interestingly, but there were many other
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contents which felt like dull, average-business-magazine ideas, like the section on AI. I also felt a bit disappointed
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because Jeff makes a great point on how deflation poses a societal challenge since our current distribution of wealth
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through salaried labour will break down and we don't have an alternative for that now, but didn't really discuss much
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what could be done about that.
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Actively reading on ideas about deflation put it in the background on my mind and lately I kept on seeing things in my
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daily life and somehow relating them to deflation. A few days ago, I was watching TV news and they pulled some charts
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with the [demographic pyramids](https://www.populationpyramid.net/europe/2022/) of a few countries. As it tends to be
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with these sections, the message was rather alarmist, warning about how the pension systems of a few countries in
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Western Europe would become unsustainable (_if only these demographic changes could be foreseen decades ahead, maybe
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then governments could have smoothly pivoted the pension systems to more adequate schemes instead of dooming future
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generations to be left holding the bag..._) and how the economy would stop growing.
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This desire for the population to grow constantly has always puzzled me. Why is it desirable at all? A friend of mine
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and I used to end up stuck at traffic jams and we would joke about how our city would be so much friendly if we only
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had half the people around. I guess there are many things nowadays which can only be sustained if the population growth
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rate stays positive, but is it truly negative if they break down? Or is it just that sort of positive destruction that
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Austrian economics defends as healthy because it re-allocates resources into the right ventures?
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I guess I need to get my hands on a book about demographics now... Thanks for reading and I'll see you around next
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month.
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---
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## Previous episodes
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- Episode 1: [https://stacker.news/items/47539](https://stacker.news/items/47539)
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- Episode 2: [https://stacker.news/items/61708](https://stacker.news/items/61708)
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26
evangelism/episodes/ideas_for_next_episodes.md
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evangelism/episodes/ideas_for_next_episodes.md
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- Discuss the following quote from the Fiat Standard
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> While many
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people would be tempted to exit fiat debt entirely and shift to holding hard
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bitcoin savings, the continued existence and wide availability of fiat debt
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will offer a strong incentive to borrow fiat and use it to accumulate bitcoin.
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One of the smartest and most far-seeing analysts of bitcoin, Pierre
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Rochard, had identified this phenomenon as early as 2013, outlining how
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bitcoin allows investors worldwide to carry out a speculative attack on all
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national currencies similar to what George Soros and beneficiaries of low
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interest rate lending have been doing to weak national currencies for
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decades, with spectacular success. The speculative attack strategy is to
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borrow the weak currency, and use the proceeds to buy the stronger
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currency. As the borrowing of the weak currency causes an increase in its
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supply, selling it to buy the strong currency causes a decrease in demand
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for it, and results in the decline of its value next to the stronger currency.
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This reduces the value of the loan the attacker owes, and increases the
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value of the currency he holds, a highly lucrative combination. With bitcoin
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a harder currency than all national currencies, it could serve as the perfect
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launchpad for attacks against national currencies. It is a natural evolution
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of the interaction between the two forms of money: hard bitcoin is
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optimized for appreciating as it is held, while fiat is optimized for devaluing
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as it is inflated and lent. The likelihood of speculative attacks casts doubt
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on the monetary upgrade scenario discussed above. How long can fiat
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survive if people can keep inflating its supply by borrowing it to buy harder
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bitcoin? We have never seen a similar situation and it is hard to estimate how this will unfold.
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