we agree. with the perfect in elastic supply
ask not what the cat can do to you, but what you can do to the cat 🫡
and this is perhaps the most pernicious part of it
the gray zone of warfare
a suggested read: https://drpippa.substack.com/p/a-hot-war-in-cold-places
consider reposting if you believe the message is worthy #plebchain
A state’s basic functions are to:
1. preserve its borders
2. protect peace
3. honor private property rights
4. enforce contract law
5. ensure there’s non-violent means for dispute resolution.
These are means of guarding people so as to allow commerce to be conducted smoothly.
A traditional empire produces security.
They have this saying about Genghis Khan and the Mongols - when they controlled all of Asia, a virgin could’ve ridden from one end of the empire to the other with a pot of gold on her head without being molested.
The Mongols made a point - don’t fuck with the system. If anything gets stolen/anybody gets hurt, they show up with an army and kill everybody for 100 miles in every direction.
The #1 export of the U.S is security. If you look at its bases, they’re basically everywhere besides China and Russia.
-- an excerpt from the Saylor Series Episode 2 - the Rise of Man through the Dark and Steel Ages, its 2-minute version can be found here https://www.2minutebitcoin.org/blog/saylor-series-episode-2-the-rise-of-man-through-the-dark-and-steel-ages-robert-breedlove
only one way to find out for sure :)
zap her some sats for each post on Nostr she does. that’ll create a positive incentive structure
Happy Valentine’s Day
Does your significant other like Bitcoin?
THE GENIUS OF THE DIFFICULTY ADJUSTMENT
Everything Satoshi did in inventing Bitcoin was non-original – his genius was in seeing how combining a specific set of previously solved problems could, together, solve certain unsolved problems – except **the Difficulty Adjustment**. The Difficulty Adjustment is Satoshi’s most underappreciated breakthrough - a truly genius application of game theory.
Suppose Bitcoin’s price rises, creating an incentive for more Bitcoin miners to mine because their rewards are greater.
More hashpower will join the network and on average, blocks will be mined faster than 10 minutes, therefore Bitcoin will be minted more often.
In this case, the Bitcoin protocol will automatically raise the difficulty of mining, such that the creation of new Bitcoin, and the timing of transaction verification, does not accelerate beyond its preset schedule (about every 10 minutes).
Analogously, suppose Bitcoin’s price falls, and higher cost Bitcoin miners turn off their machines. The Bitcoin protocol will automatically reduce the difficulty of mining, such that the creation of new Bitcoin, and the timing of transaction verification, does not decelerate below its preset schedule.
The Difficulty Adjustment is what drives Bitcoin’s **salability across time** - or, in other words, its perfectly-inelastic supply.
Unlike gold, even amidst periods of surging demand for Bitcoin, Bitcoin miners have no ability to mine Bitcoin faster, making unexpected inflation impossible. Forever.
Typical of Satoshi’s understated style, the Difficulty Adjustment was described in just two sentences in his original Bitcoin whitepaper: “Mining difficulty is determined by a moving average targeting an average number of blocks per hour. If they are generated too fast, the difficulty increases.”
The Difficulty Adjustment has now been continuously tested for fourteen years, at total global network power levels ranging from a just a few laptops, all the way up to enough energy to power a country like Argentina, and with lots of total network power volatility along the way.
The total network power volatility is what requires the Bitcoin protocol to continually adjust the mining difficulty, akin to continually adjusting the number of digits of the product of the two primes. And, astonishingly, just as Satoshi designed, no matter the global mining capacity, or its variability - a new block is verified every 10 minutes.
Tick Tock, Next Block!
-- an excerpt from the Stone Ridge 2020 Shareholder Letter, its 2-minute version can be found here https://www.2minutebitcoin.org/blog/stone-ridge-2020-shareholder-letter
repost if you think the world should be reminded who runs the Euro
neither, we believe :)
Lightning is much more than a social media tipping device, and Nostr is much more than a social media that allows you to tip
Wait, do you mean we are financially shorting the idea of espresso, or we’re drinking a short espresso?
I do, i have 600+ following - don’t you see it?
I honestly believe something happened with my following list
