Oct 6, 2021

Bitcoin allows us to walk tall.

Your savings beleive it or not affect the way you stand, the way you walk and tone of your voice. In short your physical well-being and self-confidence. A man without savings is always running. He must. He must take the first job offered, or nearly so. He sits nervously on life's chairs because any small emergency throws him into the hands of others. ‘Without savings, a man must be too grateful. Gratitude is a fine thing in its place. But a constant state of gratitude is a hor- rible place in which to live. A man with savings can walk tall. He may appraise opportuni- ties in a relaxed way, have time for judicious estimates and not be rushed by economic necessity. A man with savings can afford to resign from his job, if his principles so dictate, And for this reason he'll never need to do so. A man who ean afford to quit is much more useful to his company, and therefore more promotable. He can afford to give his Company the benefits of his most candid judgments. A man always concerned about necessities, such as food and, rent, can’t afford to think in long-range career terms. He must dart to the most immediate opportunity for ready cash, Without savings, he will spend a lifetime of darting, dodging. A man with savings can afford the wonderful privilage of living generous in family or neighborhood emergencies. He can take a level stare into the eyes of any man, friend, stranger or enemy. It shapes his personality and character. The ability to save has nothing to do with the size of income. Many high-income people who spend it all are on a treadmeill, darting through life like mnnows. “Take waste outof your spending; you'll drive the waste out of your life.” Will Rogers put it this way, “I'd rather have the company of Janitor, living on what he earned last year... than an actor ‘spending what he'll earn next year.” If you don’t need money for college, a home or retirement then save for self-confidence. The state of your savings does have a lot to do with how tall you walk.

Aug 23, 2021

Alberta electricity up 38% year on year

Yes, in Alberta electricity went from 6.4 to 8.75 cents / kWh in 2021. This is my solution to the problem -- buy 38% less electricty
I bought 2 lithium battery packs. Each battery pack contains 16 280 Ahr cells. I put Eve cells in the golf cart and the Bad Boy has Lishen cells. The lishen cost me C$160 / cell and the Eve cost me C$180 / cell. Two 100 Amp overkill BMS was C$344. Then I went a bought a MPP LVX-6048 direct from Taiwan for $1182 US or $1500 Canadian. 4 20 #2 AWG wire was C$210 and MC4 wire with DC disconnects was $260 Total = C$7750

May 22, 2021

How to give money to 1 billion people

How do you give money to 1 billion people fairly?  Most people think you have to have a benevolent dictator; but I would like to show you what bitcoin has done in the last 11 years without a central controller (dictator).  We just passed the 1 trillion US market cap. 

Most people think that bitcoin became money on May 22, 2010 (10,000 bitcoin for pizza) which would make bitcoin 11 years old today. There is now 100 million bitcoin users, but that doesn't mean equitable distribution. (everyone doesn't hold 0.1 bitcoin). 

The reason Satoshi created bitcoin was to stop the bailout of banks (money printing). This cantillon effect of money printing causes certain people to have more capital than other people. As we have seen this last year, the rich get richer as the poor get handouts via the inflation tax. This teaches them to not rely on themselves, but on the government handouts that buy less and less real goods

Now that bitcoin has caught on we have seen what effect influencers have on bitcoin.  Elon Musk tweeted last week about how much energy bitcoin was using and that caused the price to fall.  How can one man with 55 million twitter followers cause so much havoc? It has to do with network effects and that people like to follow each other. Bitcoin now can be used as value transfer because network effects.  Everybody knows someone who values bitcoin so if they accept it they know they can give it to someone else.  This cannot be said for other bitcoin subsidiaries. To go from an idea to everybody know someone who in real life has something in 11 years is amazing. Would you believe bitcoin doesn't have an advertising budget or paid influences. Amazing. At current rate of growth 1 billion people will own bitcoin in 4 years. 

Feb 11, 2021

Help! Canada's spiraling deficit.

As a Canadian, this chart sobers me. Gross Domestic Product is how much goods and services your country produces. Yes, it includes the products which are self consumed like food. As you can see via the chart Canada has had a 456% balance sheet growth in 2020. This is equal to the increase in the price of Bitcoin over the last year. 

Why have we done this to ourselves? A lot of the blame has to go to the Central Bank of Canada. They keep telling Canadians that inflation is less than 2% so borrow as much as you can. In fact the consequence of you taking on to much mortgage is not that you will lose your house, but rather that you will have to use the governments forbearance program.  Without any consequence for your bad decision people are being encourage to make more bad decisions. 

The bank of Canada would like you to believe Bitcoin is not an unit of account or a means of exchange. They have given up on the idea that it is not a store of value. (Currently the Canadian dollar stands at 8th place on the Store of Value chart and Bitcoin at 12th place.) In fact, as Bitcoin  replaces the USD as the safest place to store your value they start to realize the if Bitcoin doubles its market cap more people will use Bitcoin than the Canadian dollar as money. Whether Bitcoin is used as a means of exchange or a unit of account is immaterial. The savers of society just want to hold onto money for a rainy day. Whether you have to convert your Bitcoin into dollars or just buy your Tesla via Bitcoin is immaterial. Once the Bank of Canada realizes that inflation is a lagging indicator and try to stop inflation they will realize that their tool kit boils down to one weapon and that is interest rates. 

The question isn't which company or person will add Bitcoin to their treasury next; but when will the Bank of Canada add Bitcoin to their balance sheet? Bitcoin has fully refuted the dangerous Keynesian dogma that money needs government backing to work.