I would go so far as to say:
Your USD savings account belongs to the government. They can take it at-will, either by force, law, or just dilution.
This incentivizes you to spend it faster than they can. And the government is really, really good at spending.
nostr:note1ym5v2gmqjdr3qern6eredt82zd359eh5wd6hmw6qux8gtf2tcmhs8ms898
Just because one leaves a trail of breadcrumbs does not mean they are hungry.
Just because the data is there does not mean it has to be used to manipulate the origin of that data.
The ad services are free to scoop up this info and do with it as they please. They could be doing it now. That (some) data is there is completely moot to the question of whether the community is better served by handing over permission to be manipulated.
Thankfully, nostr inherently gives users the absolute ability to never lose control over their experience.
The larger question isn’t whether ad-driven clients should be created, imo. It seems it should be “how can nostr protect users from the inevitable onslaught of noise (dms, comments, etc) that will come from amoral actors. A question that has been here the whole time.
I would like to see more brainstorming on this notion, first.
Muting isn’t going to be sufficient. Imagine ddos levels of noise being generated.
All I can think of is super strict modes of “only people I follow and that they follow”, web-of-trust style. But that breaks down when money gets involved (influencers).
If only life was so black and white…
For bitcoin to win, there will be losers. And many will not be in the 1%.
We could see everything from businesses failing to retirements destroyed.
It’s not “burning a country”, but there will be broken eggs in order to make the btc omelette.
This seems like maybe enough ground to get a case thrown out or force some decisions to be made.
Another excellent point!
Similar tactic to Zimmerman defense - it forced the gov’t into a corner.
Excellent point! Wallets should have a “read-only” mode which means that they are incapable of signing, and then transmitting, any transactions. The deniable plausibility then becomes “I was just viewing existing transactions, already transmitted and received, outside of the wallet”. Naturally, since apps are global, there is a method to turn this off if outside of the US/EU - and it asks on generation of the private key / account.
You are not alone.
If you think the eurodollar world currently sees bitcoin as stable ground, you are in for a big disappointment. There is still a ton of work to be done and bitcoin, as devoted as I am to its purpose, still has a lot left to prove. I believe bitcoin is, in the long term, the best destination of value during a flight to safety - but it has yet to prove it can handle the eurodollar scale. I think it can, as-is, with some bumps along the way, but the world at large certainly does not agree, else adoption would be higher.
The idea of bitcoin being 10x higher and the stock market being 80% lower at the same time suggests a huge economic downturn (way beyond typical volatility) AND the eurodollar participants exiting the system into bitcoin. Think about all of that value leaving that system and into another, and what that means. Highly unlikely.
Much more likely is that the shift to bitcoin is slow and gradual, such that stocks are fine. OR, if the stock market plunges, it means a huge hit to production - which will hit bitcoin too.
Why not? Narcissism has been the tradition since the boomers. Now its a fucking industry.
nostr:npub1guh5grefa7vkay4ps6udxg8lrqxg2kgr3qh9n4gduxut64nfxq0q9y6hjy hypothetical (based on musings by Dave Collum)
Inflation and end of credit cycle squash equity valuations back to historical trend and briefly below in the 2030s
All the financial engineering such as indices, buybacks etc fail to attract enough capital to sustain monster valuations. NVDA etc crash back to reasonable P/E.
Can you imagine how much salt there will be with BTC $2M S&P $2000
I don’t get these takes. Bitcoin is and always will be tied to economy. If the stock market drops by 60%, it means there is economic distress. This means selling of bitcoin for USD. Bitcoin will go down. People will exchange at least some of their savings in btc for survival.
The same argument (low supply on exchanges) for the price rapidly going up is also the same argument for why it can go down in just as rapid of a fashion.
Until we live in a btc-denominated global economy, this is the way it is.
I am fighting for that future but it is not here, yet. Its fun to dream, but people also need to be real about this.
Yep. Despite the errata of Generations/Fourth Turning and pseudo-science-y feel of Strauss-Howe theory, its proving to be remarkably prescient. It fits too well to be dismissed.
Savings at large, in any fiat currency, is fucked on a generational level.
DON’T THREATEN ME WITH A GOOD TIME
The buggest thing that is affecting bitcoin’s USD pair and isn’t priced in is the devaluation of the dollar.
Thats what is really moving the needle right now. Why else are the exchanges (literally pick any one, on wall st or in crypto) showing so much leverage?
The second biggest thing that isn’t priced in is the speed and magnitude of that leverage unwinding.
A 21st century Paul Revere’s Ride.
…turns out, it WAS televised.
Wait ‘til Liz Warren hears about this shit! There will be hell to pay!
Some has GOT to stop this before millions lose out on their testnet retirement funds.
Then there is the typical games played with prolonged float on volume before settlement (t+1 or 2) that enabled temporary btc to “appear” before settlement.
“Temporary” makes one think its not a big deal, then you realize they can do this every trading day, forever.
THEN there are the coming derivatives (beyond existing futures) that will be ran by the same people runnubg each ETF.
These are wall st games. And many bitcoiners cheered for this.
I’m just gonna continue to self-custody and chill.
Fuck wall st. Roll your 401k into a self-directed IRA and buy corn you can self-custody yourself.