Stuffy stuff.

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episode,url
1,https://stacker.news/items/47539
2,https://stacker.news/items/61708
1 episode url
2 1 https://stacker.news/items/47539
3 2 https://stacker.news/items/61708

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@ -9,10 +9,10 @@ plan and details are explained. That will get you in context.
## Stats
- BTC stack: ??? BTC
- € stack: 22633.80 €
- Current total value in €: ???
- € into BTC: 10,000
- BTC stack: 0.4183 BTC
- € stack: 22611.80 €
- Current total value in €: 31563.42
- € into BTC: 10,052
- Paid back to bank: 366.20 €
- Outstanding debt: 43578.13 €
- Installments to go: 119
@ -69,9 +69,9 @@ deeper on this situation, it is nicely explained in the last book from Saifedean
Ammous, [The Fiat Standard](https://en.es1lib.org/book/17416829/6f3cac)).
So that's a brief summary. I am grateful that I started in traditional investments, even with all the flaws and risks
associated that come with it. Because it was good training to:
associated. Because it was good training to:
- Getting used to see your networth dance up and down through the chart.
- Getting used to see your net worth dance up and down through the chart.
- Doing research, judging an investment, drafting a plan and sticking to it.
- Growing confidence in the decisions that you make by accepting that shit might hit the fan, but that's part of life.
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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# Operation Saylor Episode - 3/120
Hi again and welcome to another episode of the Operation Saylor. This is update number 3, corresponding to September
2022.
If you are reading this for first time, you might want to check [Episode 1](https://stacker.news/items/47539), where my
plan and details are explained. That will get you in context.
---
## Stats
- BTC stack: XXXXX BTC
- € stack: XXXXX €
- Current total value in €: XXXXX €
- € into BTC: XXXXX €
- Paid back to bank: 732.40 €
- Outstanding debt: 43211.93 €
- Installments to go: 119
Charts
- BTC churn chart
- Value of stack vs Outstanding debt with the bank
---
## Log
This past month I read through Jeff Booth's [The Price of Tomorrow](https://b-ok.xyz/book/5521985/be464d). It was an ok
read. I must confess I was very hyped about it since Jeff's appeareances in different interviews and podcasts are
great, and everyone and their mother say that the book is brilliant, but I was not that impressed. I felt the book
covered the idea that we are heading towards a tremendously deflationary era interestingly, but there were many other
contents which felt like dull, average-business-magazine ideas, like the section on AI. I also felt a bit disappointed
because Jeff makes a great point on how deflation poses a societal challenge since our current distribution of wealth
through salaried labour will break down and we don't have an alternative for that now, but didn't really discuss much
what could be done about that.
Actively reading on ideas about deflation put it in the background on my mind and lately I kept on seeing things in my
daily life and somehow relating them to deflation. A few days ago, I was watching TV news and they pulled some charts
with the [demographic pyramids](https://www.populationpyramid.net/europe/2022/) of a few countries. As it tends to be
with these sections, the message was rather alarmist, warning about how the pension systems of a few countries in
Western Europe would become unsustainable (_if only these demographic changes could be foreseen decades ahead, maybe
then governments could have smoothly pivoted the pension systems to more adequate schemes instead of dooming future
generations to be left holding the bag..._) and how the economy would stop growing.
This desire for the population to grow constantly has always puzzled me. Why is it desirable at all? A friend of mine
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
had half the people around. I guess there are many things nowadays which can only be sustained if the population growth
rate stays positive, but is it truly negative if they break down? Or is it just that sort of positive destruction that
Austrian economics defends as healthy because it re-allocates resources into the right ventures?
I guess I need to get my hands on a book about demographics now... Thanks for reading and I'll see you around next
month.
---
## Previous episodes
- Episode 1: [https://stacker.news/items/47539](https://stacker.news/items/47539)
- Episode 2: [https://stacker.news/items/61708](https://stacker.news/items/61708)

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- Discuss the following quote from the Fiat Standard
> While many
people would be tempted to exit fiat debt entirely and shift to holding hard
bitcoin savings, the continued existence and wide availability of fiat debt
will offer a strong incentive to borrow fiat and use it to accumulate bitcoin.
One of the smartest and most far-seeing analysts of bitcoin, Pierre
Rochard, had identified this phenomenon as early as 2013, outlining how
bitcoin allows investors worldwide to carry out a speculative attack on all
national currencies similar to what George Soros and beneficiaries of low
interest rate lending have been doing to weak national currencies for
decades, with spectacular success. The speculative attack strategy is to
borrow the weak currency, and use the proceeds to buy the stronger
currency. As the borrowing of the weak currency causes an increase in its
supply, selling it to buy the strong currency causes a decrease in demand
for it, and results in the decline of its value next to the stronger currency.
This reduces the value of the loan the attacker owes, and increases the
value of the currency he holds, a highly lucrative combination. With bitcoin
a harder currency than all national currencies, it could serve as the perfect
launchpad for attacks against national currencies. It is a natural evolution
of the interaction between the two forms of money: hard bitcoin is
optimized for appreciating as it is held, while fiat is optimized for devaluing
as it is inflated and lent. The likelihood of speculative attacks casts doubt
on the monetary upgrade scenario discussed above. How long can fiat
survive if people can keep inflating its supply by borrowing it to buy harder
bitcoin? We have never seen a similar situation and it is hard to estimate how this will unfold.

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# Storage
The bitcoin purchased through Operation Saylor are stored in a single cold wallet.
The cold wallet was generated with the following procudure:
The bitcoin purchased through Operation Saylor are stored in a single cold wallet. The cold wallet was generated with
the following procudure:
- Generate a 24 word seed in a Coldcard MK3.
- Secure the seed words and export the xpub from the Coldcard.
- Set up a watching wallet in the smartphone.
@ -13,5 +14,18 @@ The cold wallet was generated with the following procudure:
The seed is... hehe gotcha.
mammal garment hire glance wine okay buffalo ethics false spot photo boss
snack lens script damp animal hungry net behind improve mind later shrug
mammal garment hire glance wine okay buffalo ethics false spot photo boss snack lens script damp animal hungry net
behind improve mind later shrug
## Additional Border Wallet
To increase highly the availability while only slightly compromising the confidentiality, a grid backup of the seed
exists. The pattern copy is stored in a gmail to myself with subject: "aqui los barquitos". The dictionary copy is
stored in my Onedrive, under Personal > Billar.
To generate the pattern:
- Get the seed.
- Get the dictionary copy.
- Find each word in the grid.
- Write the number in the same cell in the pattern copy.
-