Max

Praxeologist ~ Cryptoanarchist ~ Cypherpunk

Public Key

npub1klkk3vrzme455yh9rl2jshq7rc8dpegj3ndf82c3ks2sk40dxt7qulx3vt

NIP-05 Address

Profile Code

nprofile1qqst0mtgkp3du662ztj3l4fgts0purksu5fgek5n4vgmg9gt2hkn9lqpp4mhxue69uhkummn9ekx7mqpzemhxue69uhhyetvv9ujuct60fsk6mewdejhgqgkwaehxw309aex2mrp0yh8qunfd4skctnwv46qrxnhwden5te0dehhxtnvdakz7ffjxpmhxue69uhkummnw3ezumrpdejz7ffjxqjnyvrpweshgctjy5erqamnwvaz7tmwdaehgu3wwa5kuef0y5erqffjxpshvct5v9ez2v3swaehxw309ac82unsd3jhyetvv9ujucm0d5hj2v3swaehxw309aex2mrp0yhxgctdw4eju6t09ujnyvrhwden5te0wfjkccte9eekummjwsh8xmmrd9skcqg5waehxw309ahx7um5wghx77r5wghxgetkqyt8wumn8ghj7mn0wd68ytnp0faxzmt09ehx2aqe8l0vr

Publishing to

nos.lol

relay.azzamo.net

relay.primal.net

nos.lol/%20wss://nostr.land/%20%20avatar%20wss://nostr.wine/%20%20avatar%20wss://purplerelay.com/%20wss://relay.damus.io/%20wss://relay.snort.social

nostr.oxtr.dev

nostr.azzamo.net

Author Public Key

npub1klkk3vrzme455yh9rl2jshq7rc8dpegj3ndf82c3ks2sk40dxt7qulx3vt

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Last Notes

2026-01-19 18:36:25 UTC

The productive class has always lived in two worlds. There is the official economy of permissions and taxes, where value flows upward to those who produce nothing, and there is the real economy of voluntary exchange, where those who create value find each other despite every obstacle. When the official system spits you out, it does you the inadvertent favor of revealing which economy actually sustains human flourishing.
#naddr1qq…3gry

2026-01-19 08:21:11 UTC

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I wrote it as a reply under his article, here a dedicated blog.
#naddr1qq…ggf4

2026-01-19 08:20:29 UTC

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Here you go
#naddr1qq…ggf4

2026-01-19 08:20:07 UTC

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My recent article on how holding Bitcoin is not a sign of low time preference ruffled some feathers. @nprofile…cgmu wrote a fantastic article voicing the common critique.
#naddr1qq…u6hh
I still think that this critique falls short. So here is a response that hopefully helps clarify some misconceptions. I'm curious about the next round of feedback, so let me know what you think!
#naddr1qq…m207

2026-01-19 08:07:38 UTC

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Exciting!

2026-01-19 08:05:12 UTC

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Nice! The try now button doesnt work tho...

2026-01-18 12:17:28 UTC

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Cool, makes sense with relay gating.

2026-01-18 12:15:43 UTC

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That's weird. Seems to be an issue with your client, its just a regular reply kind.

2026-01-18 10:38:26 UTC

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Your points aren't related to time preference at all? I'm not sure I understand what you mean.

2026-01-18 09:59:57 UTC

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Wow that's cool!

2026-01-18 09:57:35 UTC

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Is there a global marketplace app for this?
There seems to be more than a dozen apps that do this in different regions. Pooling liquidity would be a great unlock.

2026-01-18 09:52:56 UTC

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Nice!
But how is this different from NIP29? Messages are also just stored in a single server there, but that is a relay...
Also do you handle removing a member of an encrypted group at all?

2026-01-18 09:49:31 UTC

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Link to those curious: https://plebqr.com/

2026-01-18 09:43:27 UTC

2026-01-17 21:27:16 UTC

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Yes they're great, and were an inspiration for using existing beautiful artwork as a backdrop, it makes so much sense.

2026-01-17 10:17:20 UTC

The promise of exit has always haunted those who would rule over others. From the German forest tribes who frustrated Roman legions to the digital nomads who slip between jurisdictions, humans have sought spaces where voluntary cooperation replaces coercive hierarchy.
These temporary autonomous zones arise from a simple economic calculation: when the costs of control exceed the benefits of extraction, freedom becomes possible. The state retreats because of the cold logic of diminishing returns, and in that retreat, human creativity flourishes.
#naddr1qq…wchp

2026-01-16 23:29:20 UTC

We live in a curious age. Never before have so many people enjoyed such material abundance while simultaneously proclaiming their contempt for the very mechanism that makes this abundance possible. They drive automobiles purchased with money to universities funded by money where they learn from professors paid with money that money is the source of all human suffering. The contradiction is so glaring that it blinds them to its implications.
#naddr1qq…7qur

2026-01-16 17:36:45 UTC

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That's basically Flotilla from @nprofile…dgdk

2026-01-16 17:35:58 UTC

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I failed so many times that I gave up...

2026-01-16 15:57:01 UTC

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Yes, that's my favorite line of this convention
> The political existence of the state is independent of its recognition by other states.

2026-01-16 12:40:07 UTC

The cypherpunks wrote code, but code alone cannot adjudicate disputes between parties with different values. The missing infrastructure is legal, and the principles that compose it are older than any nation-state.
#naddr1qq…704a

2026-01-16 09:42:34 UTC

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lol

2026-01-16 09:04:26 UTC

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Awesome, thanks, that's good to hear.

2026-01-16 09:02:40 UTC

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You're disregarding the axiom of resistance, in this case Bitcoin doesnt make sense.

2026-01-16 09:01:20 UTC

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Yes, here!
#naddr1qq…zey8

2026-01-15 21:15:01 UTC

Google Project Zero just dropped a full 0-click exploit chain for Pixel 9 targeting CVE-2025-54957 in Dolby's audio decoder. Android's AI transcription features auto-decode incoming audio, so attackers just need to send you a malicious RCS message.
#GrapheneOS users aren't immune to the initial bug since it's in Dolby's proprietary blob with its own internal allocator, but hardened_malloc and improved mediacodec sandboxing make privilege escalation significantly harder. Patch to January 2026 security level now!
https://projectzero.google/2026/01/pixel-0-click-part-1.html
@nprofile…0md0 any thoughts on this?

2026-01-15 19:51:23 UTC

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I appreciate the kind words, and I thoroughly enjoyed our conversation, looking forward to the next one.

2026-01-15 19:38:31 UTC

The historical record proves that competent intelligence services will infiltrate any movement they consider threatening. But decades of documented cases reveal that detection-focused security culture consistently fails while breeding the very paranoia the state wants to create.
The cypherpunk solution applies here too: design systems where the adversary's presence cannot achieve its goals.
#naddr1qq…wlwh

2026-01-15 10:49:31 UTC

Living outside the state means living outside its protection racket. How do communities of individualists defend themselves without recreating the very structures they escaped?
The answer lies in deterrence over firepower, distributed capability over centralized protection, and vigilance toward those who claim to guard you as much as toward external threats.
#naddr1qq…2vem

2026-01-15 10:21:21 UTC

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@nprofile…24cn is the client you're looking for.

2026-01-15 10:12:47 UTC

Agent context files and skills designed for security audits of your software.
https://github.com/trailofbits/skills

2026-01-15 10:08:42 UTC

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The best news of this is that there is a .free domain!

2026-01-15 10:00:42 UTC

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Yeah, we need a client optimized for low bandwidth...

2026-01-15 09:59:29 UTC

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Whatever you want.

2026-01-15 09:59:03 UTC

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Yes it works well for me after the boot troubles.

2026-01-15 09:55:37 UTC

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That's a great roadmap!
I'd love to have a mini QubeOS on the go.

2026-01-15 09:54:14 UTC

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It auto copies text from the terminal when you select it.
And paste works easy when you have a keyboard with a clipboard manager.

2026-01-15 09:52:40 UTC

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Yes, bullish on the direction, it'll be a lot of work to get it to work great.

2026-01-15 09:52:05 UTC

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Yes, but how does it do with agentic systems? Usually those fall apart with small models...

2026-01-15 09:51:17 UTC

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I get errors when starting the terminal with a VPN connected, that's an upstream AOSP bug, workaround is to turn off VPN while the terminal boots.
After that its stable for me tho.

2026-01-14 22:23:44 UTC

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Installing opencode inside termux (even in their Debian VM) was super unstable.
But the native terminal works surprisingly well!

2026-01-14 22:22:39 UTC

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I doubt it will be useful at such low compute tho...

2026-01-14 21:44:51 UTC

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This is great, thanks!

2026-01-14 21:37:22 UTC

GrapheneOS now supports hardware-virtualized Linux environments on Pixel devices. Combined with OpenCode, you can run a complete vibe coding setup from your phone, with no vendor lock-in on either the operating system or the AI tooling. Here is how to set it up.
#naddr1qq…6kyc

2026-01-14 17:11:27 UTC

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Cust a casual reading list.

2026-01-14 17:00:22 UTC

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Great, that's the goal, thanks for reading!

2026-01-14 14:20:05 UTC

The libertarian movement has spent decades oscillating between political reform and territorial escape, both of which have failed to deliver meaningful sovereignty.
A third path exists: build parallel institutions that coexist with the state through systematic separation. Bitcoin, Nostr, and physical meetups have begun realizing this vision, offering practical sovereignty without waiting for seasteads or electoral victories.
#naddr1qq…0z5k

2026-01-14 10:09:32 UTC

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> Hoarding a good does provide present utility, but that is not the same as consuming it. A non-perishable good like money is not used up, or worn out, or otherwise diminished in utility when it is held.
Yes, and my point is the loss of the interest foregone, that's the opportunity cost that is sacrificed by hoarding.
> Rothbard recognized that too, as you mentioned above when he refers to 3 margins, not 2; and you yourself refer to hoarding as orthogonal, which would not be the case if hoarding and consumption were identical.
I'm not saying that hoarding and consumption is identical, what is consumed is the interest foregone.
> Hoarding is not purely psychological.
Agreed, what I mean is that time preference is manifested in action, and specifically to increase the investment to consumption ratio.
> Hoarding in an exchange economy reduces demand for all other goods and increases the exchange value of the hoarded good. It definitely has effects in the market. This was the point of the 2nd Mises quote in my original reply. Whether those effects are observable is not relevant to economic theory.
Exactly.
> The interest rate here is undefined, not infinite.
Undefined seems a less useful term than infinite here. At least the price is not enough to convince him to engage in trade.
> You can't infer from a refusal to exchange present for future goods that the reason was an insufficient interest rate. Observed interest rates are partially explained by time preference, but they are not identical with it, nor do they measure it. There is always an entrepreneurial component.
Yes.

2026-01-13 22:33:02 UTC

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I think Mises is wrong here, Rothbard and especially Voskuil have a more nuanced understanding of it.
The hoarder isn't postponing consumption. He's consuming NOW: consuming the services of the hoarded good. Security is a present satisfaction. Optionality is a present satisfaction. Peace of mind is a present satisfaction. These aren't future goods; they're present goods produced by the act of holding. The hoarder has purchased something with his capital, he's just purchased liquidity services rather than apples.
The boat case proves rather than undermines this. When Crusoe stores coconuts to eat while building, he IS engaging in temporal exchange, with himself. Present-Crusoe lends to future-boat-building-Crusoe. The "interest" is the boat. He exchanges present consumption for a future good plus return. This differs categorically from storing coconuts indefinitely for security with no productive deployment. The former is investment; the latter is hoarding. The distinction doesn't dissolve in autarky; it becomes intra-personal rather than inter-personal.
Time preference is revealed by the minimum rate at which you'll exchange present for future goods. A purely psychological "orientation toward the future" that never manifests in willingness to lend isn't economically meaningful because it produces no observable market phenomena. The HODLer who won't lend at any rate has revealed infinite time preference in the only sense that matters economically: no offered future return compensates him for parting with present capital.

2026-01-13 19:25:45 UTC

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I use en_GB-alba-medium
It's definitwly not high quality tho, but I get used to it.

2026-01-13 19:24:44 UTC

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Yes, this sounds like the argumentation ethics from another point of view.

2026-01-13 19:23:21 UTC

I love it when there are comments that actually make me think and go deeper into logic.
#nevent1q…3lae

2026-01-13 19:22:28 UTC

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The argument isn't that Mises is wrong, but that Rothbard clarifies him, and the Bitcoin community departs from both.
Rothbard in Man, Economy, and State: "People allocate their money among consumption, investment, and hoarding. The proportion between consumption and investment reflects individual time preferences." Three margins, not two. Hoarding is orthogonal. You can increase hoarding without changing time preference at all if you draw proportionally from both consumption and investment.
Non-monetary case: Crusoe can eat coconuts (consume), plant them (invest), or store them (hoard). His time preference is the ratio of eating to planting. Stored coconuts provide present utility: security, optionality, peace of mind. They're consumed as liquidity services right now, while depreciating and costing him the yield he'd earn by planting. If he stores 100% and plants nothing, his time preference isn't zero, it's infinite: he refuses to exchange present goods for future goods plus interest at any price.
On "plain saving": Rothbard says treating saving as a single decision that expresses time preference is wrong. Savings encompasses two distinct decisions: how much to invest and how much to hoard. Only investment expresses time preference through interest. Hoarding expresses liquidity preference under uncertainty.
The hodler enjoys present satisfactions: speculation entertainment, security, optionality. These are present goods consumed now. What's deferred is only the purchase of other goods, but that deferral isn't investment since no temporal exchange for interest occurs. The hodler who refuses to lend at any rate expresses infinite time preference, not zero.

2026-01-13 19:08:25 UTC

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Nice.
TTS works OK on the phone locally, but not in the same quality as with these servers.

2026-01-13 16:11:26 UTC

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Very nice to see, I think this makes sense.

2026-01-13 16:05:42 UTC

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Mises's "plain saving" describes choosing "later consumption of the same quantity," but my point is that the hoarder isn't actually deferring consumption: they're consuming the money's services (liquidity, optionality, removal of uneasiness) in the present moment.
The second quote addresses whether hoarding is economically productive (it is), which is a separate question from whether it reveals time preference through the mechanism of originary interest. Mises himself defines originary interest as the discount of future goods against present goods in exchange, which hoarding by definition does not involve since no temporal exchange occurs.

2026-01-13 14:51:22 UTC

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I wonder at what scale that graphic would break... Let's find out

2026-01-13 14:45:39 UTC

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Both the water and the man have changed by the next step.

2026-01-13 14:42:16 UTC

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This is very cool, thanks!
How are you doing it? Is it actually secure?

2026-01-13 14:38:46 UTC

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I guess the click house database could quickly query for user focused scores...

2026-01-13 14:17:23 UTC

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Exactly.

2026-01-13 14:16:32 UTC

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Mission accomplished!

2026-01-13 14:09:28 UTC

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Bitcoin in your wallet **is** a present good whose utility you are consuming right now: its liquidity, its speculative entertainment value, its peace of mind against uncertainty. The economic distinction isn't between "consumer goods" and "non-consumer goods" but between hoarding (consuming the present utility of holding) and investment (exchanging present goods for future goods plus interest), and only the latter expresses time preference in the technical sense.

2026-01-13 13:12:07 UTC

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Nope, it's a fundamental praxeological truth, bitcoin is a present good, and time preference is the extend to which you prefer holding present goods over future goods.

2026-01-13 12:59:00 UTC

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Hoarding isn't bad, it's just not low time preference.

2026-01-13 12:38:16 UTC

Bitcoin's cultural mythos celebrates the HODLer as a paragon of deferred gratification, a being of superior moral fiber who resists immediate consumption in favor of future reward. "Have fun staying poor," they tell the uninitiated, certain that mere possession of an appreciating asset proves they have mastered the ancient virtue of patience. They invoke the concept of time preference, borrowed from Austrian economics, to frame their inactivity as civilizational achievement.
The framing contains a fundamental error that reverses the meaning of the very concept it deploys.
#naddr1qq…h06p

2026-01-13 09:00:10 UTC

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Woopwoop!

2026-01-13 08:42:31 UTC

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There's a script that connects to 180 GitHub repos and pulls all changes.

2026-01-12 14:45:48 UTC

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Who's the owner of the debt doesnt really matter, they're just not repaid.

2026-01-12 12:59:49 UTC

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No GraoheneOS? 👀

2026-01-12 12:31:59 UTC

Government debt differs fundamentally from private debt: politicians pledge not their own resources but ours, and creditors who buy Treasury bonds are investing in future theft. With the national debt at thirty-eight trillion dollars and climbing by seventy thousand dollars every second, nobody knows what to do. The proposals on offer range from implausible to fantastical.
There is another option with a long history and principled foundation: repudiation.
#naddr1qq…fnz0

2026-01-12 11:37:12 UTC

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@nprofile…derj is one of them

2026-01-12 09:47:33 UTC

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That's a very cool project, thanks!

2026-01-12 08:59:44 UTC

The cypherpunks solved encryption decades ago, yet private digital commerce remains marginal. The missing piece is not better cryptography but better institutions for managing trust between pseudonymous parties.
This essay explores how trust can be treated algebraically: quantified, distributed, pooled, and traded like any other commodity. The result is a framework for building the institutional layer that Bitcoin and Nostr still need.
#naddr1qq…7uxj

2026-01-11 20:27:25 UTC

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I don't know why we have such arbitrary size limits in nostr...

2026-01-11 19:05:26 UTC

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Amber support would be nice, other than that it works great.

2026-01-11 18:10:48 UTC

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Yes, specifically the marginal demand and marginal supply.

2026-01-11 18:10:16 UTC

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Yeah, I think I watched everything that's out there from him (its not much) so whenever a new lecture drops I devour it instantly.

2026-01-11 18:09:25 UTC

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It gets better later on

2026-01-11 15:20:22 UTC

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Enjoy the time in the bush.
Solitude is essential.

2026-01-11 15:19:09 UTC

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Thanks, I appreciate it!
Let me know how it can be written more beautifully.

2026-01-11 14:47:40 UTC

I'm a simple man.
You upload a new video of Rothbard speaking.
I watch it.
https://www.youtube.com/watch?v=9tgVACrCwPs

2026-01-11 13:26:12 UTC

A consortium of libertarian legal scholars has published the Universal Principles of Liberty, a systematic codification of libertarian jurisprudence designed not as a constitution but as a voluntary framework for decentralized justice. Drafted by Stephan Kinsella with Alessandro Fusillo, David Dürr, and Patrick Tinsley, the document establishes property rights, competitive arbitration, and customary legal evolution as foundations for societies without coercive monopoly.
For builders of parallel institutions, this provides what has long been missing: serious legal architecture for the experiments already underway.
#naddr1qq…vrcu

2026-01-11 09:53:56 UTC

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Yeah its bad, was already trying to kill them but it didnt work, too large of a follow list breaks nostr in a couple ways.

2026-01-10 17:55:36 UTC

If my writings don't put you to sleep, Avi's soothing voice and the gentle background music will do the trick!
#nevent1q…as30

2026-01-10 17:39:57 UTC

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Shutdown and confiscation is only a matter of time.

2026-01-10 09:32:58 UTC

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Yes, v3 or v4, let's see how the review goes.

2026-01-10 09:28:33 UTC

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Wrote this one based on your insight.
#nevent1q…efmx

2026-01-10 09:27:42 UTC

Bitcoin has outlasted every attempt to destroy it because there is no action available to any adversary that stops the network. China banned mining, blocks continued to be produced and the hashrate recovered in six months. The architecture makes enforcement not impossible but futile.
#naddr1qq…s4up

2026-01-10 09:15:16 UTC

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Yeah, got a bit intense.

2026-01-10 09:07:26 UTC

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Let me know what can be improved please

2026-01-10 09:06:19 UTC

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Grimore is web based.

2026-01-09 15:13:25 UTC

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That's great to hear, thanks a lot!
I was planning on translate the final version, still not 100% with it, so there will be another major version coming some when this year.

2026-01-09 13:54:41 UTC

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Would be cool to get an nevent of the bookmark list to share it in a kind1.

2026-01-09 13:43:41 UTC

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Thanks!

2026-01-09 13:20:17 UTC

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Thanks, let me know how it can be made better!

2026-01-09 11:50:06 UTC

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Oh that's an interesting point!

2026-01-09 11:36:38 UTC

John Boyd's OODA loop taught fighter pilots that tempo wins fights. But the deepest insight isn't cycling faster; it's blinding your enemy so they can't cycle at all.
Privacy through encryption does exactly this, inverting normal attack/defense economics. When defense costs pennies and attack costs millions, the adversary can't afford targeting you.
#naddr1qq…cjc2

2026-01-09 09:12:10 UTC

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Did you do some writing on this?

2026-01-08 10:24:29 UTC

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From the people who would pay you in exchange of getting the consumption earlier.