That is a beautiful fat cap.
Twitter is literally on fire.
Thanks for nothing, Bitkit.
When we say "the economy", it sounds disconnected from our lives. I always refocus its meaning to "standard of living", which in this context means the productive activities that sustain our lives. Freezing the activities that sustain our lives focuses on the essential concern.
We must recognize that history serves a purpose. Its purpose is not to log a series of events. It is to provide an explanation that teaches us lessons toward strategically guiding our future with ideological and moral clarity. Clarity comes from romanticizing good and evil, separating heroes from villains. Without essentializing in this way, history is noise with no signal.
Signal is discerned from recognizing essential characteristics and filtering out the noise. Thus, history must be mythologized to be useful toward its purpose. The history of America's founding was drowned by noise (slavery, colonialism), and its essential lessons (secession, rights, liberty, protection against government tyranny) were muddied. So too has the Renaissance. The noise now overwhelms the signal, as the mythology is lost to the noise-makers.
On Android, Primal has one major advantage over Amethyst. Primal presents a thread in a proper tree, while Amethyst does not.
GDP is an aggregation of productive economic activity and parasitic government waste. If GDP contraction takes place due to reduction in the latter, so much the better.
Sorry, I removed my lightning address from my Nostr profile, so don't try to zap me. The reason being I was using Wallet of Satoshi which just worked. When that got taken away, I never found another free lightning wallet that worked as easily. I mean, do I need to pay for Primal to make zaps work? This illustrates exactly the point of my original post. It's not obvious to a noob how to easily get equipped to make Bigcoin and Lightning work according to best practices.
I feel like the Bitcoin ecosystem is missing a go-to library of procedures and practices. That is, a collection of how-tos. For example, how to setup a wallet to self-custody keys. How to buy Bitcoin using fiat. How to protect against losing your keys. How to protect against losing Bitcoin on death. How to setup a wallet to enable Lightning transactions. How to setup a digital service to take Lightning payments.
Without scarcity and deprivation of use, there is no concept of property. Ideas have no scarcity. When someone applies your idea, it does not deprive you from using that idea. Therefore, ideas are not property.
https://mises.org/library/book/against-intellectual-property
I was surprised how simple the recipe is for mayo. Now I need to learn to make ranch from scratch.
One of the greatest movements in the 1990s was patterns (design patterns, architectural patterns, stereotypes, archetypes). Pioneers like the Gang of Four (Erich Gamma, Richard Helm, Ralph Johnson, and John Vlissides), Martin Fowler, and Douglas Schmidt wrote books and wikis to capture patterns.
The truth of a pattern was obvious. The explicit and precise specification in human language enables immediate affirmation, because the reader recognizes it as being not novel. The reader has seen it many times before, so the pattern communicates no new knowledge. This is a key characteristic. It is important to say a true thing that is obvious to everyone when expressed explicitly, especially when it has never been said explicitly before.
The utility is that a pattern formalizes a term of art. It establishes a word or phrase as referring to a specification that details its meaning. Knowing the name of the pattern, the listener can immediately reify a mental model, and know that everyone hearing the same name will share that mental model. That is powerful.
Through patterns, coders effectively changed natural language within the domain of software development to be "English as code". When communicating with English in other contexts, there is a high degree of imprecision. We have to account for ambiguity with more or less generous interpretations. However, with patterns we can be more confident in what we say and what we hear from others who speak in those terms.
I feel like in our journey toward Humanity as Code to enable AI functions that can subsume human toil, we should be specifying patterns as formally as possible across all domains. Perhaps AI models can be doing exactly this on our behalf by distilling our writings into pattern specifications, which can then be verified and cleaned up. This would form a reliable repository of truth, which can then be used for training.
«Money is backed by purchasing power. That in turn is backed by productive capital.»
I gained that insight today, so I share it with you. I feel like my superpower is distilling masses of cross-disciplinary information as a generalist into compact precise expressions that capture the essence. (Fewer words, more punch.) I feel like this skill is important toward being able to compactify knowledge into a tweet or a meme. I've said for decades: use simple messages.
Now, as to the substance of the insight, I feel like the goldbugs got it wrong. Money backed by gold's intrinsic value can only be assured to hold up to the gold's utility value. My insight is obvious once said aloud, so I claim no brilliance to have said it. I am a little resentful that Austrians didn't say it ubiquitously before me, so that public discourse would not be filled with idiocy like "Bitcoin is backed by nothing" or even "fiat money is backed by nothing". Both statements can now be seen as untrue.
A resource view (a non-monetary view) helps to understand the value of things, so that we are not confused by the obfuscation of value in monetary terms. Which seems strange if one purpose of money is as a unit of account for a common way to assess value across all domains. Where money fails in that purpose is in assessing itself.
These people are going to feel it in the rekt 'em.
YES!
On other platforms, bots and intelligence agencies generate most of the mindless engagement, noise in the form of substance-free reactions or talking points in support of narrative control.
The biggest tragedy of modern corporations is that division of labor (benefiting from comparative advantage among individual workers and job roles) leads to fragmentation of responsibilities such that catastrophic inefficiencies arise. These manifest in the form of "above my pay grade" (vertical) and "not my job" (horizontal) deference. The shedding of responsibility and narrowing of scope per worker leads to few (if any) responsibilities taken on to bring everything together.
To mitigate the fragmentation of responsibility, the modern corporation generally thinks of the roles for "bringing everything together" in the following ways:
1. Team Managers - supervises people, time/effort, cost, performance
2. Project Managers - oversees plans, schedules, deliverables, coordination
3. Product Managers - gathers requirements, analyzes the problem domain, understands the market, shapes the product vision, specifies the commercial terms, coordinates how to go to market
4. Architect - precisely specifies the problem domain and designs the solution approach, enables the work breakdown for planning
The biggest problem with this view is the incoherence of the following principles that most people who build products are well-versed in.
A. Architecture is everyone's responsibility.
B. Security is everyone's responsibility.
C. Performance is everyone's responsibility.
D. Quality is everyone's responsibility.
These things being everyone's responsibility actually become either no one's responsibility or someone's responsibility. That someone will have neither the power to oversee nor the capacity to deliver, because indeed these are shared (team) responsibilities for which a designated leader can only serve as a champion and cheerleader and/or an annoying nag.
A professionally managed organization, especially at large industrial scale, solves these problems with a matrix. While people management is hierarchical (Team Managers), work is managed through "dotted line" reporting structures that cross functions. A RACI matrix specifies this precisely. Every job role/responsibility and its relationships to all others is defined in terms of Responsible, Accountable, Consulted, and Informed. This form of professionalism is what breeds the "above my pay grade" and "not my job" mentality.
Professional management is what kills "CEO mentality", which is the founder mode entrepreneurial spirit instilled throughout an entrepreneurially managed organization.
The problem is how do you scale founder mode beyond the founders? How do you scale CEO mentality beyond the CEO? How do you assign responsibility without breeding irresponsibility elsewhere?
Alright for anyone who wanted it, here it is.
The audiobook for:
Reasons to Buy Altcoins
This actually took longer than you might think, and if you turn it up and listen closely you can hear the pages turning and i read chapter numbers, might make a good ASMR or white noise if you ever need it 🤣
Zaps for the work are appreciated but not obligated 🙏
https://a.nostr.build/QWuEkMql01QdXCaA.mp3
Without having seen or listened to the content, the title almost suggests this is a gag book with empty pages.
