It took many years for
@PeterMcCormack
until it finally “clicked” for him.
Wanna experience the world through Jeff Booth's lens?
I dove down the
@JeffBooth
rabbit hole, listening to 6+ hours of past
@WhatBitcoinDid
podcasts.
Here are my 4 main takeaways:
(Thread)
The Twitter algorithm was cracked by the mastermind behind the new
#Bitcoin
thesis, Softwar.
@JasonPLowery
was able to psyops others by systemically exploiting how Twitter works.
And he did it not only once, but twice!
In this 🧵, I'll explain.
@TheFigen_
Let's see what ChatGPT has to say:
While deer are primarily herbivorous animals and their diet primarily consists of plant matter such as grass, leaves, and twigs, they have been known to exhibit some opportunistic behavior and consume small amounts of animal protein. However,
@BitcoinNewsCom
Didn’t really think about this part, but the unit price of a
#Bitcoin
spot ETF will probably be pretty appealing to the average person.
$42,000 vs $25.
It’s wrong, but $25 will seem cheaper.
Refreshing my bullishness on normie exposure to bitcoin via the ETF.
Compared to
@lopp
Sometimes I feel a need to take a break from the excessive mindblowing.
When I originally dived down this hole, I didn’t realize it would lead me to question everything and re-learn everything.
#Bitcoin
is certainly the most mentally stimulating “thing” I have ever
@MDBitcoin
Yeah, same.
Many of these conversations start with my friends complaining about inflation, housing prices, their crappy time at work, etc.
I understand the need to complain, but to me, all that eventually leads to discussing
#Bitcoin
. But I don't mention it because I know
There is an anti-bitcoin mining bill up for vote by the Texas Senate tomorrow (4/12/2023)
@BitcoinPierre
@lee_bratcher
@KristineCranley
@Dennis_Porter_
have been on the frontlines lobbying against this bill.
In this 🧵, let's dive into what this bill is and how YOU can help.
Jason Explains
In an interview with
@MartyBent
, Jason explained exactly what he was doing:
• Showcasing how you can use defensive only tactics as an offensive tactic.
• Showing how these types of systemic exploitations happen all the time.
Watch here:
@WalkerAmerica
@titcoinpodcast
I've wondered what makes someone so aggressively against
#Bitcoin
rather than take the time to study it, and this points to one of those reasons.
They sold away what could have been millions. Now they want it to fail so they don't need to regret it.
All makes sense now.
@Toma_7_32
It’s really hard because trustless means trusting only myself and that’s a scary concept to many.
We look for someone or something to blame. When that doesn’t exist, we get nervous.
@MDBitcoin
It's a long~ journey to go from Bitcoin is a scam to Bitcoin is savings.
Many who study Bitcoin only get to that level of conviction after extensive hours of studying.
But for those who get to that level of conviction, congratulations.
You're probably already feeling the
Such a great video, touching on the main problem we all feel so frustrated and lost.
No, it's not about politics. There isn't any politician coming to save us.
It's about our broken monetary system and how we need a more honest, trustless system.
Months prior to releasing his best selling
#Bitcoin
thesis
#Softwar
,
@JasonPLowery
sat down with
@PrestonPysh
to chat about Proof of Stake vs Proof of Work.
This 2 hour+ episode is a MUST listen.
But in case you don't have the time, I summarized the highlights in this 🧵
@KobeissiLetter
Isn’t this part of the script?
1. Fed goes too far with rate hikes.
2. Recession / depression.
3. Stimulus / lower rates / money printing.
4. Assets inflate. Good times roll for the wealthy. Worse times for the middle and poor.
5. Too much leverage. Send everything to
(Part 2) Summary of the 2 hour+ episode on "Proof of Stake vs Proof of Work" with
@JasonPLowery
&
@PrestonPysh
on the
@TIP_Network
This episode was recorded months prior to the publishing of Jason's best selling Bitcoin thesis,
#SOFTWAR
.
Let's dive in from where we left off 🧵
@BitcoinNewsCom
Delay until the final moment. That seems to be the SEC strategy from now on.
At this point, I can only guess that they are:
1. Waiting for Binance to crumble — so that Coinbase (surveillance agreement partner) can get an increased share of btc trading volume.
2. Waiting for
@orangepillapp
It is amazing, roughly 1 in 2048^24 chance of someone guessing the seed phrase.
I repeat, that's 1 in 29,642,774,844,752,946,028,434,172,162,224,104,410,437,116,074,403,984,394,101,141,506,025,761,187,823,616 chance.
@BritishHodl
@coinbase
Naturally, as most people thought of and think of
#Bitcoin
as a high-risk, speculative asset, they stayed away from it.
After 15 years though, some might look at Bitcoin and say,
"I understand now, but the market cap is too big.
There's no room to grow.
Let me go look at
Caitlin Long dropping bombs:
📠 "The US government does NOT want tech forward banks and their tech to exist."
⚡️ "Lightning Network is the big Eurodollar opportunity."
@CaitlinLong_
👏
@KobeissiLetter
When you live on a salary, regardless of whether you work at McDonalds or Google, and you choose to live your life on debt, you're essentially living paycheck to paycheck.
So many of us who think we're in the middle to upper middle class need to re-examine our lifestyle and
"Hard times create strong men,
strong men create good times,
good times create weak men,
and weak men create hard times."
This quote is the perfect encapsulation of the phenomenon of domestication.
Listen to
@JasonPLowery
's conversation with
@Breedlove22
.
It's one of the best.
@WatcherGuru
Of course, America can "absolutely" print more money.
Make war expensive and this kind of arrogant statement does not exist.
We absolutely need to move onto a bitcoin standard.
Echo Chamber
The blocked people were outraged.
Since they disliked him anyway, they started spreading the word about getting blocked.
Of course, anyone liking or retweeting those posts also got blocked.
It created a vicious cycle.
Jason's name kept coming up in discussions.
Huge wins for 🟠 Bitcoin mining in Arkansas & Montana!
👏👏 Based on tireless efforts from
@Dennis_Porter_
and
@SatoshiActFund
, results are proving that engaging in politics is not a bad idea after all.
In this 🧵, let's dive into the amazing work Dennis & team has been up to.
The team at
@SatoshiActFund
has now passed the ‘Right to Mine’
#Bitcoin
bill in the House & Senate in two states.
Both bills now sit on the Governor’s desk in those states. We look forward to participating in the signing ceremonies.
@MDBitcoin
Our current system trains us to think in terms of zero-sum games. For me to win, others have to lose.
A
#Bitcoin
standard encourages a healthier system. One in which your wins benefits the other. Where you productivity gains are enjoyed by all.
We are not easily able to
@mikealfred
And there may already be other nations mining without making it public yet.
Game theory suggests that it might not be to their benefit to go public until they've established a target hash rate.
@WatcherGuru
Try to manipulate
#Bitcoin
as much as you want.
At the end of the day, bitcoin will stay solvent longer than anyone attacking it can survive.
@crazyclipsonly
You notice that in the guy's other pocket might have been the real ring.
This might have been the setup as a joke.
In any case, it's better to break up sooner rather than later.
@CaitlinLong_
Not sure, but this might be the first time a libertarian president was elected in a country of the size of Argentina?
If so, this is truly a special moment in history.
Results (April, 2023)
Now, with the Softwar book on Amazon, he could replicate the results from Nov 2022, with actual results.
Book sales doubled 📈.
Although technically this is correlation, not causation, it warrants more experiments down the road.
Massive Scale Surveillance
If Jason can create buzz through controversy like this with a few data points (likes, retweets), and one tool (blocking), imagine what these companies can do with all the data they have.
You are being surveilled and exploited at a massive scale.
Summary
Jason engaged in psyops to systemically exploit Twitter's engagement algorithm to fan the flames of his haters.
The controversy resulted in more people getting interested in reading
#Softwar
.
He proved one of the points in Softwar: software is systemically exploitable.
@BitcoinMagazine
I don’t doubt that Charlie Munger and Warren Buffett are great investors, but it doesn’t mean they can understand think outside of the existing system.
In fact, they are most susceptible to inside-the-system thinking.
To me, this is bullish. Bitcoin flies right across the
That's a wrap!
If you enjoyed this thread:
1. Follow me
@builtbymartink
for more of these
2. RT the tweet below to share this thread with your audience
The Twitter algorithm was cracked by the mastermind behind the new
#Bitcoin
thesis, Softwar.
@JasonPLowery
was able to psyops others by systemically exploiting how Twitter works.
And he did it not only once, but twice!
In this 🧵, I'll explain.
@BitcoinPierre
And yet,
#Bitcoin
will always look too expensive.
Looked expensive at $300, expensive at $3,000, and expensive at $30,000.
To the fiat system, bitcoin will always look expensive.
@JasonPLowery
Real Power vs Imaginary Power
My “crypto” journey started out in the “altcoin” space. At that time, bitcoin was just another asset (the biggest one) in the “asset class”.
Now I realize the entire vocabulary I was using was wrong.
These are not the same things at all:
"I think the smart ones will figure it out sooner."
@JasonPLowery
's work on "Softwar" and his efforts to communicate this message is finally getting some recognition it deserves.
Read the thesis.
Be one of the smart ones who figures it out sooner.
Companies do stock splits to attract plebs who prefer smol numbers.
1 BTC = 100 million satoshis
In the future, exchanges will start listing bitcoin price in sats/usd for the culture.
Much attractive?
Network Targeting 🎯
But instead of directly blocking the person who made those assertions, he ‘liked’ the tweet, and blocked those who like and retweet it.
Essentially, he was blocking the people most likely to disagree and dislike him AND were most likely to spread the word.
@CaitlinLong_
Beautiful example of Bitcoin forcing companies to make mistakes in public.
Independently verified by "outsiders."
No waiting for anyone to release a post mortem.
Just invalidate, and keep on ticking.
This is what decentralization and openness looks like.
@BitcoinNewsCom
“Acknowledgment of the energy-intensive nature of mining.”
I imagine the Bitcoin maxis at Fidelity died a little bit inside while writing this.
Just watch this ESG narrative do a 180 flip in the next few years.
We’re still so early.
Bitcoin Fixes This
Software is already being used, not only by governments, but by companies, to systemically exploit you at massive scale.
Bitcoin fixes this, and this is part of what Jason's thesis,
#Softwar
, dives into.
You're a Test Subject
Social media platforms are constantly running A/B experiments on you without you noticing.
They figure out what's causally inferable and how to get a response out of you.
Then, they trigger actual behavior changes from you whenever they want.
The Experiment
Jason decided to target anyone posting disagreements about Softwar who were:
🔸 Making an ad hominem argument.
🔸 Preachy / virtue signaling that war is bad.
🔸 Using the usual top 3 arguments (defense only, software is not a weapon, 1st amendment is enough.)
As an immigrant at the tail end of Gen X, this episode resonated with me.
@natbrunell
thanks for bringing out the emotion in
@MichellePhan
's amazing story.
A couple memorable quotes:
"Everyone will discover
#Bitcoin
in their own way."
"Not everyone wants to be sovereign."
@MDBitcoin
2044.
I often worry how volatile the journey will be. No, not the price of Bitcoin, but the volatility in the fiat world.
Will there be hyperinflation? I think so. What kind of destruction and despair will this bring to the average person.
When I think that it could be my
@BitPaine
@saylor
I get laughed out the door by corporate finance folks when I suggest allocating a portion of treasury to
#Bitcoin
.
But a lot of this is because it’s currently hard to convince the board of directors that this is a prudent decision.
This will change very suddenly imo.
@SimplyBitcoinTV
To be fair, Fidelity has understood for a very long time.
Similar to how they were innovators in the mutual fund space, I give them credit for bring early to understand
#Bitcoin
.
But yes, following Fidelity’s lead, other institutions will start to understand. Perhaps some
@BitcoinPierre
Singling out
#Bitcoin
mining as a waste because it's "inessential" is a values judgement based on being misinformed.
SB 1751 unfairly targets Bitcoin miners, when they were merely playing by the rules.
Lots of education needs to happen.
@BitcoinNewsCom
Long term HODL with spot ETF does seem foolish.
How would you sleep tight at night knowing that you’re so close, yet not holding the real thing.
These fees can be considered “convenience” charges. But the “hidden” charges not included in the 1% are the ones where you’re
@WalkerAmerica
This kind of complacency really worries me.
There's a reason bitcoiners say, "stay humble, and stack sats."
If you want to be protected from the decisions of arrogant counterparties like these elites in power, go study
#bitcoin
and stack harder.
Money isn't meant to be printed
I only started studying “crypto” in early 2021.
Smart contracts, Proof-of-Stake, algorithmic stablecoins, etc.
It was fascinating.
I thought I was early and struck gold.
Unfortunately, most of it was a scam.
That's when I finally turned to
#Bitcoin
and realized the truth.
@maxkeiser
Thank goodness Alex didn't get the answer to these questions, otherwise, not sure where you'd have come up with 10,000 BTC to give since you lost it all in that boating accident you mentioned. I'm sorry for the tragic loss. It happens to the best of us.
@BitcoinNewsCom
"We are not campaigning to support the current financial system."
That might be what you honestly think, but if you think you're supporting an alternative financial system by supporting "blockchain," but against PoW &
#Bitcoin
, you are the one who's misinformed.
The energy
@Stocktwits
This right here is an Apple iPhone launching moment IMO.
They've finally cracked the code at making a non-clunky glass w/ camera.
It's TBD whether $META captures the market, but this changes everything.
The bar has been set.
@KobeissiLetter
The money printing will continue with the U.S. as well.
Just at slightly different points in the cycle, but eventually all will end up taking the money printing route.
No sane politician would try any other responsible method, like raise taxes of reign in spending.
Why take
@romoolo
Yes, I hard agree to this.
The more I understand, the more urgency I feel that my fiat job is not where I should be spending my time.
The more I understand, the more I realize it’s
#Bitcoin
and not crypto. So you end up searching for bitcoin-only companies.
The more I
@MartyBent
(1) Why Does This Work
Homophily
noun. the tendency for people to seek out or be attracted to those who are similar to themselves.
🪶Birds of a feather flock together.
(3-2) Why Does This Work
But online, with social media, if you post a radical thought, you'll see a J-curve distribution of reactions.
👍 A good chunk of people who really like.
😐 Very little from people who are indifferent.
😡 LOTS from people who really dislike.
(2) Why Does This Work
Streisand effect
Way in which attempts to hide, remove, or censor information can lead to the unintended consequence of increasing awareness of that information.
Sauce:
(4) Why Does This Work
When bystanders see that there is controversy, they would naturally hear about
#Softwar
.
When they see the positive reviews on Amazon, they might wonder about the contradiction.
This triggers them to buy and read the book.
@FitFounder
Lifting. Consistent lifting, with progressive overload.
I’ve ran marathons in the past, but nothing compares to lifting. I don’t even do a bunch of cardio except for some regular walking and I’m in much better shape healthwise than when I ran marathons.
Blood test results
Mass Blocking
• Back in Nov 2022, Jason conducted an experiment in mass blocking certain people on Twitter.
• In recent days, it started unintentionally, but he took the opportunity to try the mass blocking experiment again.
And both times, it worked.
@jimmysong
The significance of Bitcoin is only apparent when you put in the time to study it.
Otherwise, you're at risk of getting interested in crypto, and the other blockchains out there.
There's so much marketing out there ready to feast on your fiat thinking.
Bitcoin requires a fresh
@BitcoinNewsCom
Tell that really to the Argentinians who are faced with hyperinflation and wondering how to go through life without going on the streets.
They’ve already lost everything and got lied to so many times that they’re willing to give this “nuke” option a try.
Sure, it can fail, but
@TheBTCTherapist
It’s sad. Brings me to tears even.
This is the life my parents lived. It’s the life my friends live. This is the life I’ve been living.
So glad I discovered Bitcoin. There is a way out.
@KobeissiLetter
This doesn't end well.
But the other metric I'm looking at is credit card delinquencies. Currently at the highest levels in the last 10 years.
After the holidays, in 2024, I'm looking for housing and loan defaults to start occurring.
Lots of signs pointing to a difficult new
@WatcherGuru
Here we go. This means Binance does not have enough USD of course.
All they are carrying are their own pumped up coins.
Is this the part of the new season where the last standing hero from last season falls?
@BitcoinNewsCom
@JSeyff
This proves that wall street will be wall street.
No, they do not fully understand
#Bitcoin
. Perhaps they never will.
But what they do understand is demand. Where there is demand, they will go. They will bring their marketing dollars with them.
With the Ethereum ETF, I’m
The Hype Machine
This phenomenon of how social media disrupts what we perceive and more is discussed in
@sinanaral
's book, "The Hype Machine," which Jason recommends.
I haven't read it yet, but it's definitely going on my reading list.
Who's Jason Lowery?
• Blast & ballistics research engineer in the military
• SME in electronic warfare
• Helped stand-up US Space Command
• National Defense Fellow researching Bitcoin at MIT
He knows a LOT about using watts to impose physically prohibitive costs on stuff.
@GameofTrades_
Fair to say that in retrospect, this was the beginning of the next big financial crisis.
Lots of signs in real estate and consumer credit of things breaking. Companies have recently started new rounds of layoffs.
Meanwhile, consumers are just feeling the real effects of
@MDBitcoin
These are good questions.
If you're in a cult or in a state of delusion, it's really hard to know that you are.
I keep going back to the fundamental code and the properties that govern
#Bitcoin
.
✅ Pre-determined supply schedule.
✅ Cryptographic security.
✅ No pre-mine.
✅
@PeterMcCormack
It’s a good question, but I challenge the idea that everyone will want to be self-sovereign.
We’re still early and many getting into
#Bitcoin
are in it for the ideals. These people will want to own UTXOs and want to be self sovereign.
The majority of folks coming in won’t
@BritishHodl
Your content rocks, your conviction is rock solid, your personality is unique, and nobody is gonna object to getting fabulously wealthy.
Simple as that.
Keep up the great work, sir!
@BitcoinMagazine
Yes, and most won't see this because
#Bitcoin
prices will always look expensive compared to fiat.
Unless you understand that the world around you is repricing to bitcoin, you won't ever feel like the current prices are at a discount.
@WatcherGuru
With this and the cointelegraph fiasco, either someone is deliberately trying to manipulate the market or people are putting way too much focus on the spot ETFs that every single mistake just gets magnified and scrutinized.
Ultimately, this doesn't matter too much for the
@natbrunell
The progression for me and I think most people:
- I will never buy
#Bitcoin
.
- I will buy a bit of bitcoin.
- I will buy a bit of altcoins.
- I will buy bitcoin with my altcoins.
- Oh crap, I will never buy altcoins.
- I should have bought more bitcoin.
- I will buy a bit
@Breedlove22
Fully owning the fruits of my labor is the essence of what I’ve been looking for my whole working life.
The feeling of jealousy when a colleague gets promoted before me. The feeling of contempt when someone less “qualified” than me calls the shots.
I now understand that at the
@BritishHodl
Approaching Bitcoin with a sense of urgency is great. But I fear that many will come in thinking of it as a great trade and just get burned in the process.
Whatever folks do, I ask that they please take the time to study Bitcoin. You’ll need that knowledge to have the
@maxkeiser
Wow, true if big. Big if true even.
Interestingly, out of all the Americas, the United States will be last to make
#Bitcoin
legal tender. That’s perhaps the downside to being the world reserve currency.
Once you experience the fiat power, it’s hard to let go. My only guess is
Property Rights in Nature
When there is an excess of meat, pack animals, like wolves, need to determine the pecking order.
• Natural selection optimized the power projectors, the strongest member of the pack, to get first dibs.
• Power = watts = joules/second = kinetic power
@Pledditor
@CoinDesk
"I don't like Bitcoin bros ... They cause so much hell and havoc for a lot of people."
They do ruin a good crypto bro party by telling everyone that their coin is a 💩coin.
They cause havoc to the fiat bros because they're constantly telling everyone fiat is going to zero.
He
@jameslavish
What I see around me…
Friends see housing prices out of reach and are now devastated without a plan other than to “just wait it out.”
Everyone notices and talks about grocery prices and prices at the restaurant being way higher than before.
Friends stopped complaining about
(3-1) Why Does This Work
In a physical public forum, if you give a radical talk, you see a normal distribution of reactions to your talk.
👍 A few people who really like what you said.
😐 Most people who are indifferent.
👎 A few people who really dislike what you said.
@KobeissiLetter
And of course, wages are not rising enough and will never really be able to keep pace.
This means the average worker will continue to feel left behind and continue to feel like life’s a struggle even though they are working harder than ever.
We were supposed to reap the
@natbrunell
@cvpayne
@FoxBusiness
Wow, that was cathartic.
Thanks for hitting on all the relevant points: explaining the lost of hope in GenZ, explaining why
#Bitcoin
is the currency of peace, and talking about front-running the institutions.