For trading in Thailand I recommend LocalCryptos.  https://localcryptos.com/

Just because McDonalds uses a big 'M' does not mean that everyone else needs to stop using that letter lest they be mistaken for a fast food restaurant.

In the world of business you can have similar logos or even names as other companies as long as the industry is different. The can be a McDonalds wrench manufacturer and they would not have any problem with naming it that.

So there is no reason to "take back" rainbows.

I just did a thing
Something bigger than before
Leaving it private




A haiku

 

Tiptoeing into the world of BTC loans I discovered that the DeFi (BiFi) version presents the opportunity for those in dollars to make over 20% return on their USDT stake.

This reminds me of the early days of loaning dollars on BitFinex when the price was shooting up to $1200. The yearly earnings of staking your dollars on the exchange for people to use to long BTC were up in the 20-30% range. Meaning that even if you didn't believe in bitcoin you could get a significant return on your dollars just by lending to those that do believe.

But even with such high returns I still wouldn't sell my bitcoin to put in at that rate.

When I sold my house years ago (when the price was $650/BTC) I had in the back of my mind that high interest rate. So I immediately converted it all to bitcoin with the idea that I could just put that $100k+ on Bitfinex and get a cool $30k or so per year. But I never got around to it.

I was worried that Bitfinex would do a Gox (which it actually did...but they paid everyone back).

But with this BiFi approach the only worry would be USDT or USDC going away.

I wish my family would listen to me on my advice for their funds. I told them to buy at $17/BTC. Even just parking their money and getting 20% is not a bad deal. A few bought just under $9k when I told them that the price was about to shoot up. And then it did. I gave my mom 10 BTC a while back for her birthday and she sold it when the price jumped to $1000.

I use Bitcoin for illegal beanie baby trafficking.

And tulip bulb avoidance.

The news of the Pandora papers came out yesterday. They said they would release names today. Several news agencies have known about it for months but were doing their due diligence and sifting through the several terabytes of data.

A few examples given were some rich folk that basically said that just because they have money in offshore accounts doesn't mean they're doing anything illegal. It is a common business practice to find the best jurisdiction for your business.

They are called seamounts. And this is the subject of the next adventure that my crazy engineer friend is setting out on (the guy that built the seastead in Thailand).

They are useful because you can anchor on one while still being more than 200 miles from any nation which puts you in international waters.

Without seamounts it requires dynamic positioning systems which require energy.

CO2 is such a joke. Call me when there's actually something toxic filling the air instead of the air that my food's food breaths.

As for island vs boat, if you can get fresh water on a boat (you can, desalination) you can do so on an island as well.

A boat or seastead will be better against a tsunami but in the past 100 years outside of a few outliers most tsunamis did not reach more than 30 meters above sea level, though just a few meters high can kill a lot of people as the ocean is very powerful and the water just keeps coming. The one in Indonesia killed more due to the inability for taking care of people after the event as opposed to the tsunami itself.

I would say though that a boat will likely be necessary in the near future if you wish to get to other countries. Though if you have "fuck you money" and you buy an island, you'll likely also be buying a boat to get to your island.

It is certainly something I have considered. There are several islands for sale in Panama. Though we are also considering movable versions of our floating homes so that could be a viable solution some day. A floating home that can sit in 5 meter waves allows you to live in a whole lot of places.

Thinking out loud on the idea of taking a loan on your BTC to buy something (like a house or even a car)...

From what I have seen you have to store twice amount of BTC on the exchange to get half in a dollar loan at around 4% interest. I've also seen that the loan is for one year which means you need to pay it off each year.

Assuming BTC price is $50k and you need to buy a $50k car. You stake 2 BTC to get a $50k loan. In one year you owe $52k in dollars.

Assuming BTC is up to $104k (for easy math) in one year you can take out another loan with just 1 BTC to pay off your $52k payment and get your 2 BTC back.

Now, you're down 1 BTC and have 1 $50k car.


Otherwise, you sell the BTC at $50k and owe (assuming long term hodler at highest income bracket) $10k in (20%) capital gains tax on that sale. To get $10k you need to sell .2 BTC, which incurs $1k tax so you need to sell .02 BTC, etc.

Now, you're down 1.222.. BTC and have 1 $50k car (and you have also given $10k toward bombing women and children).


Bad scenario:
Assuming bitcoin crashes to $26k (easy math) when you have to pay off your loan in one year. You need to take out a loan with 4 BTC to pay off your loan.

Now you're down 2 BTC and have 1 $50k car.

Likely scenario:
Eventually the price goes to $1 million/BTC. You've paid yearly and now you can get a loan with .1 BTC to pay off your payment.

Now you're down .1 BTC and have a $50k car (and every year the amount of BTC goes down and down until there are no more dollars to take a loan out in).


This is assuming BlockFi (which I hear requires double the amount).

I have also heard of lending via BiFrost which is a way to take a loan in ETH with BTC with no third party custody. You can then convert your ETH to some stablecoin and convert to dollars with no tax implications. DYOR

I'm warming toward the lending scenario. But I need to trial a loan first. I also saw that BlockFi is under some legal pressure so the ability to go through them could go away in the next couple of months.

Number go up.

I've started to think of satoshis in terms of being .1 cents when trying to calculate value. That is how much they will be worth when the price is $100k.

I spent a few years thinking of BTC in terms of $1k/BTC when the ATH was $260. I knew it would reach that number and when spending or buying BTC I thought of it in those terms. I recall reading a reddit thread of someone doing the same thing.

So now I am treating BTC as being worth at least $100k and acting accordingly. When I have to sell to pay for something I am keeping in the back of my mind that I'm selling at 50% off at these low prices.

At $100k/BTC 1k satoshis is one dollar. I'm fine with adopting sats as the standard with that in mind. $10 is 10k sats, a $25 meal is 25k sats.

I remember when NFTs were called colored coins and nobody wanted any.

Was it the marketing or the timing?

I ran for my town's water board precisely because when they needed to build an administration building the contract went to the water director's brother.

Our water company was a private co-op so the board is elected from home owners who then elect the director.

I lost as I knew nobody at the meeting but I came 2 votes shy of getting one of the four slots just by dressing well and I guess introducing myself well.

Greta is a little girl that had a school project about climate change and she got some attention so she went with it.

Her life has been hijacked by exploiting adults in the same way that Macaulay Culkin, Michael Jackson, Miley Cirus had their childhoods stolen from them for some big publicity moves by their parents. Not to say they didn't want it but parents should protect their kids from such fame at such a young age.

Now she's talking about all the world needs now is friends. This is a plea from child Greta saying she wants a normal life with regular friends and all the things she was sheltered from. I do not doubt that she will end up like Miley Cirus when she wants to have sex and goes to the extreme ala Madonna to go to the extreme on that as well.

She's a mentally challenged little girl that should not be carted around to international meetings with people asking her opinion on things she does not have the extensive background in other than parrotting the talking points she's being given.

Her speech at the UN should have been the end of it, go to college and grow up and maybe take up the lucrative climate change career afterwards.

I have no hostility for her, just feel bad for her.

When all you have is BTC sometimes you have to sell to pay for things.

What is needed in every country is a service that allows you to pay your taxes in bitcoin and allows for easy conversion of government spending into bitcoin.

That way the governments will be the final holdouts of the legacy currencies printing and defacing it as much as they want while the rest of the economy can be 100% bitcoin.

Prediction:

Some day Jack Mallers will come out of the closet.

What they really mean

Whether you believe it or not, owning Bitcoin will help to end the pandemic.

I'm as anti vax as they come, not just anti COVID vax but anti all vaccines as they have harmful chemicals and you can't sue the company if you are injured by it.

But I think there is some protection provided by masks. Any type of mask, even my cloth mask with purposefully large holes in it so I can breath.

People spit when they talk, they may not notice but when I started paying more attention to it due to COVID I noticed, even seeing a tiny bit fly from my mouth into someone else's when he said something funny. If that's not a surefire way to transfer a virus I don't know what is.

Sure they don't stop your breath and the holes are too big to stop a virus but just to prevent spitting on someone is decent. Though that doesn't mean you need it while out jogging as they do here in Panama. If you're talking face to face with someone it makes sense to have one.

Though I still don't wear one when I don't need to. Though I had COVID and am immune so I won't be spreading it.