It's like sketching a circle in the dirt with a pointed stick
Knowing the wind'll kill it some day, still it calls my burning wits for now
He is speaking to the impermanence of everything from a person’s actions, to their name as well as every day and minute. He knows his actions/life will fade away, yet it is still worth it because it holds meaning for him in the moment.
This may be reading too far into the line, but one of the greatest mathematicians in human history, Archimedes, famously dies while “sketching circles in the dirt with a pointed stick.” When his city was invaded, he told the invading soldiers, “don’t disturb my circles.” Archimedes felt that the pursuit of truth was more important than anything else. This line may be a reference to that event.
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