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17 sats \ 0 replies \ @thecommoner 23 Apr \ on: What will most likely prevent your heirs from recovering your bitcoin? bitcoin
Just like the old saying of "Only you can prevent forest fires!"
I like to say - "Only you can take the steps needed to ensure you can obtain our families Bitcoin!"
lololololololol - I am not a Bot!!!
I promise -
I do think that the Sats bounty should go to someone very, very....long-winded!
Thanks!
As for the contract being enforced - since the payer has no real downside and (our personal/business reputations are all we really have...the contract is simply one-sided as if I (as the owner) screw you over you just ruin my reputation :) and people quit using my service or business....
I am thinking that the business owner would indeed receive the Bitcoin (possibly in an escrow account or something) but as long as the business is providing the future savings in FIAT terms - that should be OK and the customer would simply realize the savings on a future purchase - which again is a method of keeping customers coming back :) I really didn't think there would be a "FIAT" payout as that would kind of defeat the purpose I think.
I also like that privacy thing :) though I don't have any of those apps.... I have heard good things about 0xChat - otherwise signal is the best I could do...
Yea - it’s crazy to think about…
The only risk is Bitcoin failing…
If you can accept that Bitcoin is going to continue increasing in value over time…
Then there is no downside!
In my mind this equates to the this new monetary paradigm…where you literally change the thinking from save or receive a discount now to one of-share in the appreciated value in the future.
Bitcoin completely breaks the Time-Value-of-Money formula…
Instead of the present value being equal to some future value plus interest… the present value is less than the future value given a variable time frame
This seems almost blasphemous
Absolutely - it will be open source - I will need to reconfirm with Ray Buni - I don’t think he is on SN yet but he is on NOSTR so who knows - and I will see if I can get a hold of @Paulinthejungle … that would be the shizzle
:) - I have heard plenty about the "scammy" concerns as well - that's why I am leaning towards the just giving the "50/50 split in appreciated value" and then saying if you want it to continue you will have to "opt in" after a certain period or something....
still working on it - but things are slowly coming along!
This is really hard to lay out fully as a gift like that would literally change ones life....this reply is going to be a bit long so hodl on :)
I think it is important to note that I believe that deep down the rabbit hole of Bitcoin we are all looking for ways to constantly provide value to other through either 1) exchanging our Bitcoin with people or, 2) providing value to others in exchange for their Bitcoin. Either way this concept of HODL slowly fades due to the entropic characteristics of the network.
OK -
I would instantly inform my boss that I would be quiting as soon as they could find a replacement for me...
I would then begin the process of setting up a "non-profit" organization that's first focus would be on purchasing apartment buildings and immediately transforming them to run on my version of Bitcoin - which is - everyone pays a split amount of Bitcoin/FIAT - the FIAT paid is equal to the FIAT needs of the property and the Bitcoin paid is equal to the "profit" that the property would otherwise realize. That Bitcoin would then become the "Reserve Account" for the property after it first worked as an incentive for the residents that paid it... (That incentive would be a 50/50 split in any appreciation of the FIAT value of that Bitcoin as a discount on their future rent) (this is a simple concept that not many seem to understand in Bitcoin land....but I am confident it is coming)
The groundwork for this would all come out of my 50 Bitcoin and the non-profit would be the recipient of the other 50 Bitcoin -
My hope would be that "donor's" would allow me to purchase properties for cash (which would help ensure a "reasonable" price for the properties and allow me to maintain rents at below market rates which would help affordability and the rent credit would make them even more affordable for the residents - This will change the paradigm of housing from a Landlord vs. Tenant relationship to one that is Cooperative and where the tenant is incentivized to help the landlord/owner keep rents lower...less evictions/less lawsuits/less damage....everyone treats their apartment as their own due to the Bitcoin incentives coming through....
This flywheel of sustainability first becomes recognized locally as a good idea....then goes from their....before you know it - our housing crisis is over....
I know that seems like a lot - but its happening already with my little property...and once I get it set-up in a non-profit and start just giving rent discounts to my "FIAT" paying residents they will be incentivized to pay in Bitcoin in order to maintain the discounts.... this has the ability to onboard literally everyone in a fiarly short yet orderly manner....
or at least that's what I would do/am doing....the gift of Bitcoin would just let me do it now instead of over the next 1-10 years or so :)
What a dream :)
When you play with fire....well you know the rest :)
I think this is the best possible scenario playing out
Wish me luck - I am applying for the analyst job the egodeath has open currently :)
My gut tells me I'm gonna need all the luck I can get! But you never know so....
A few more thoughts on it.....
"I feel like this group is so close to the solution and I just have believe they just don't see the problem as a result of being too focused on simply trying to survive from one day to the next....and that seems like a "shite" way to live...."
continued from here....
.....I mean I guess if you believe the gobbligook put out by the "humans" running the "fed" or "gov" to be the "one and only truth about money".....but come on?? What are the odds that the system built upon something that only certain people have the ability to "print" or "create" is really going to be the "most adopted" system for long is? Like once the system started showing cracks and smart people started thinking about the problems with the current system, you can't tell me that they wouldn't start trying to find a new, better system....and well holy hell....Satoshi didn't come up with it???? And now....well holy hell again....it isn't proving out to be the best system for handling this "money" thing and all that humankind does within it????
I believe it is inevitable....that Bitcoin continues proving out its "positive and growning influence" over the monetary systems of the world until it is usurped by something better that is solved due to some flaw no one sees (or hasn't played out) yet in Bitcoin.....but hey....unknown, unknowns are a bitch!
I've blocked out the memory of just how long I had one stuck for previously....but it was at least two months.....and I really think it was like 6 months about 8 or 9 months ago I think???? I was so "shitting my pants" and like "this is crazy, I did everything right so I wonder just how long this might take" and "wonder how I can speed this up?"
Which also coincided with mempool.space coming out with the testing of "boosting" your transaction....but I was willing to wait it out....it was a great learning experience to just pay the extra sats to ensure you don't get left out of a block for eternity???
The hardest thing I have ever done.... was finally accepting that I did not have to maintain relationships with those in my life who had hurt me the deepest. Specifically my parents...
It took a lot of really hard work to build up the mental lattice and strength to finally put an end to those cycles of abuse....but I gotta say....it really feels good to be on the other side of those relationships :)