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Aug 7, 2022 18 tweets 9 min read Read on X
🧵THREAD: 1/ Those who understand #Bitcoin liken it to the discovery of fire. But, did you know that 5,300 years ago it was possible to make fire portable and hold it in a wallet? The technology that made this possible was the Tinder Polypore mushroom (Fomes fomentarius). Image
2/ Tinder Fungus allowed for the portability of fire. One could hollow this mushroom out, put glowing embers of a fire in it, and the fire would smolder for days, allowing it to be transported over distances. Image
3/ If a clan could not keep fire burning, the clan would perish. So these mushrooms were instrumental technology for human survival—especially in cold or wet weather.
4/ Tinder fungus is found found in Europe, Asia, Africa and North America. It was even found in a fire-starting kit on the body of Ötzi—the 5,300 year-old natural mummy who was discovered in 1991, well preserved in ice on the border of Austria and Italy. Image
5/ Ötzi's kit included flint and pyrite to make sparks that could easily ignite the fungus. The ability to transport fire changed the game for human mobility. One could carry fire and quickly set up camp, or cook a meal in minutes. Image
6/ Tinder fungus was essential to humans but ultimately is a parasite that kills trees that it infects. This is an important reminder not to get too distracted by overblown environmental fears. Whatever trees are rotted by these polypores is well worth the convenience. Image
7/ Tinder Fungus produces a very large numbers of spores, particularly in spring, with up to 887 million basidiospores an hour being produced by some fruit bodies. Most of these spores will never germinate and to an outsider they may seem very wasteful. Image
8/ Fire was almost certainly feared by early hominids—it's benefits not well understood. It is inconceivable that hominids grasped that fire would power civilization and unlock nutrients for larger brains. Hominids that refused to experiment with fire were at a great disadvantage Image
9/ There is a parallel between modern humans holding #Bitcoin, in portable wallets, and early humans carrying fire, portable in Tinder Polypore wallets. Both are human-altering technology that few understood at first. Image
10/ If you are someone who thinks that #Bitcoin is something to be traded away, for fiat money, you've not taken the time to understand the magnitude of the discovery before you today. Image
11/ If you are someone who thinks that #Bitcoin's 0.19% of global emissions is a reason to avoid its leap in human progress, you are the equivalent of an ancient human who refused to use a life-saving, fire-starting, polypore because a few trees were rotted by its mycelium. Image
12/ If you are someone who convinces others not to use #Bitcoin and intentionally exaggerates its externalities for your own personal benefit, you are the small-brained hominid convincing others not to evolve and cook food with fire. Image
13/ And if you are someone who would believe that the 887 million basidiospores produced, each hour, by Tinder Polypores is somehow wasteful, or pointless, then you cannot understand the usefulness of Proof of Work and what it accomplishes. Image
14/ But, if you are someone with an open mind, who is eager to learn, you can take the time and explore what #Bitcoin has to offer civilization, as well as for you and for your future generations. Image
15/ #Bitcoin will surprise you. It will enlighten your senses and challenge you to think in ways you never thought possible. There's no better time than the present to dive down the rabbit hole and discover fire. Carry it with you and share it with others. Image
16/ Get started by reading @Bquittem’s “Bitcoin is the Mycelium of Money.” brandonquittem.com/bitcoin-is-the…
17/ Don’t have time to read? Listen to it and many other great essays on @TheGuySwann’s @BitcoinAudible.

podverse.fm/episode/h80xuw…
18/ Let these ideas spark your imagination and ignite your understanding of #Bitcoin. Once lit, its embers will forever burn within your consciousness. Image

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More from @level39

Nov 20
🧵 1) MicroStrategy is poised to become the Standard Oil of the digital age. Let's take a closer look at how Michael @saylor is refining new Bitcoin financial products in the same way John D. Rockefeller did with petroleum, when few understood the practical uses of crude oil. Image
2) 175 years ago, whale oil was used for illumination and crude oil was dismissed as a curiosity. It was a nuisance for landowners—something that fouled up salt mines near Oil Creek, Pennsylvania. It had no economic usefulness other than as a suboptimal medicinal. Image
3) It was not until oil was drilled and properly studied that innovators figured out it could be refined, stored and put to a wide variety of uses. We are at a similar point in history, with Bitcoin. We are only just beginning to understand it. Image
Read 17 tweets
Nov 11
1) 🧵Food enrichments stimulate our appetites for refined foods. This has been known by farming scientists for over a century. Let's take a closer look at how vitamins were weaponized by the food industry for profit. @RobertKennedyJr #MAHA freetheanimal.com/2016/05/enrich…
2) Scientists have known for over a century that if animals eat refined foods as staples, they will naturally lose their appetites. If vitamins are added to a synthetic, purified diet, it will “greatly” increase their appetite and intake for that refined diet. Image
3) Early vitamin experiments helped determine which factors would best promote the growth of cattle and other economically important farm animals. By 1920 it had been discovered that "vitamine B" was critical to maintaining the appetites of animals on deficient feed. Image
Read 26 tweets
Jun 3
[THREAD] 🧵The Wizard of Oz is believed to be an allegory for the 19th century "free silver" movement against the gold standard. Liquidity shocks in the Midwestern U.S. led to a populist revolt against hard money. Can Bitcoin avoid a similar fate in a hyperbitcoinized world? Image
2/ In L. Frank Baum's 1900 book, "The Wonderful Wizard of Oz," Dorothy wears "silver shoes." (Hollywood used ruby slippers to showcase Technicolor™). Baum was a Populist and believed reintroducing minting of abundant silver coinage would assist impoverished communities. Image
3/ The real "Dorothy Gale" was likely Mary Elizabeth Lease, of Kansas, who rallied struggling Midwestern farmers to join the Farmers' Alliance—a populist movement that, among other things, advocated for "free silver" to expand the inflexible gold-based money supply. Image
Read 23 tweets
Apr 7
1/ Michael @saylor's "Digital Hotel" is a metaphor for a Bitcoin lending platform. In a future of scarce bitcoins, liquidity will be paramount. $MSTR will be incentivized to build tools and platforms that virtually eliminate lending risk. Here's how... 🧵
2/ Imagine a future where AIs are self-spawning their own AI workers that will need to pay for electricity and their own CAPEX. These self-spawned AI workers will need to onboard onto the Lightning Network in order to become economically viable and to stay alive and functional. Image
3/ As Bitcoin is the world's best savings technology, and people could be unwilling to lend out their bitcoins, this presents a problem for machines or entities that don't have any bitcoin. Let's presume some corporate treasuries have idle Bitcoin on their balance sheets. Image
Read 24 tweets
Mar 22
🧵1/ Ethereum is not a commodity. It's what is known as a "Differentiated Product" centrally controlled through hard forks that are certified by the Ethereum Foundation's trademark and logo — much like centralized administrators of "Champagne" or "Kleenex." Here's why…👇 Image
2/ A differentiated product is one that is uniquely different from its competitors, allowing the producer to argue that it is better and potentially charge a higher price for it. A product is a commodity when all units of production are identical, regardless of who produces them. Image
3/ For example, "Kleenex" is not a generic type of facial tissue. Rather, it is a trademark owned by the Kimberly-Clark Corporation. Kleenex is not a fungible commodity that can be traded like coffee beans, pork bellies or gold. Image
Read 12 tweets
Mar 14
🧵 1/ For years, Michael @saylor has been giving away his long term business plan, through cryptic parables of "Digital Energy" and a "Magic Hotel," but few have understood them. MicroStrategy's business plan appears to be much bigger than people realize. Let's find out why👇
2/ In these clips, Michael Saylor explains his parable of how Bitcoin is "Digital Energy" and a "Magic Hotel." The concept is generally lost on most people, unless one understands what problem he is trying to solve.
3/ In order for Bitcoin to succeed, it must first become the planet's most trusted store of value. However, there's one problem. Mature markets require large holders and risk tools for market makers to provide collateral and offload risk. $MSTR is poised to provide that service. Image
Read 10 tweets

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