After using #Nostr for several weeks, one thing that has taken me by surprise is how there are very liberal and very conservative people on here, and yet they both share a sense of community and don't spend all day posting content against each other. Despite differences in political persuasion, they find common ground on here. Now that I've seen this, I better understand how dangerous centralized control of social media is -- where algorithms continuously drive inflammatory content to users to keep them addicted to the platform. I find it ironic that a censorship-resistant platform is largely devoid of much of the inflammatory content that's present on censorable social media. One may have thought the opposite would be the case.

A lot of people fail to realize this, but the price of Bitcoin in U.S. dollars is, in many ways, a real-time chart of de-dollarization. The price of Bitcoin only goes up (when priced in dollars) because people are trading in dollars for Bitcoin. Those who trade dollars for Bitcoin with no intent to sell that Bitcoin for the foreseeable future ("#hodlers") are, by definition, abandoning the dollar. Furthermore, the #LightningNetwork is creating a major market of #V4V exchange in which the dollar is no longer the unit of account. The unit of account is Bitcoin. People are increasingly exchanging goods and services for sats, the smallest unit of Bitcoin. This is de-dollarization.

The market cap of #Tether is about to reach 4x that of USD Coin as the two stablecoins enter a second year of diverging market capitalization. $USDT / $USDC / #Stablecoins

As we approach the close of the year, it's important to remember that the 10y/3m yield curve is still inverted. It has been continuously inverted for over a year, which is the longest period of continuous inversion on record. What this is likely warning is that not only is a #recession coming, but that it will likely last a long time. It's always during the phase between when the central bank stops hiking rates and the start of the recession that it feels like a soft landing has been achieved.

The fiat system will die once workers demand #Bitcoin for their labor.

The Lightning Network and other L2 protocols are essentially analogs of financial derivatives in the #tradFi space, except they're far more efficient and resilient to liquidity crises by design. Traditional financial institutions have always struggled to measure counterparty risk. Corruptible credit rating agencies, on which traditional financial firms rely, are a fallible means to measure counterparty risk. De-fi protocols are public, transparent, auditable, and trustless. In a trustless system, there need not be a dependence on credit rating agencies to measure counterparty risk. As such, de-fi protocols introduce a more efficient financial infrastructure. In the years and decades ahead, decentralized finance is going to outright replace #tradFi. Those who try to stop it will be faced with trying to stop the wheels of human evolution from turning.