Interesting read, I struggled with the arguments made during the WBD chat. Especially when he was pushed on how bitcoin’s PoW is to be used for universally “securing” data. When in face for the most part it was based on DDoS sustained attack prevention. Or exhibit costs for certain functions/interactions (zaps etc.).

Wasn’t able to put my finger in why I wasn’t 100% onboard with the thesis. Appreciate you articulating this.

On a side note I think the evolution prey/hunter arguments are potentially over simplification of biological adaptation history. Not all successful evolutionary traits are a result of being able to exert power and dominate other animals that share an ecosystem. It is all about genes getting proliferated and sometimes that means that adopting social traits, that are not about “power”, increases the likelihood of genes getting proliferated.

Also I reject the idea that we have finite resources to the extent that it is argued in the WBD interview. The work by David Deutsch, for example, proposes that almost anything can be converted into a “resource” just by the act of us humans conceiving and developing ways in which that thing is used. Therefore our resources are truly only limited by our ability to construct ideas in which those thing become useful. Anyway that is more a philosophical point but need to be considered when we use the framing “this is a constant battle for resources that are scares”.

Could you extend the process to spin up a new nostr key pair on demand (and have it auto connect to a random relay). Then you could send the txn via encrypted private message and the newly created nostr address pushes out the txn to the masses with a tag so that other participants pick it up. At the end of the process it deletes the key pair.

100%

Chatting to a no-coiner friend on another platform and they used this emoji.

Either Nostr has invaded the subconscious, it is a coincidence or my friend isn’t a no-coiner….I don’t know which it is!!!

Is this the only room or is it hosted over multiple? Be interesting to see what the numbers are like elsewhere.

Tbh is is safer than (and you’re less likely than getting arrested for) zapping them ⚡️

They know most only read the title. It is manipulation 101, again!

Respond to form here: https://www.bankofengland.co.uk/paper/2023/the-digital-pound-consultation-paper

Finally responded this morning to the Bank of England request for public engagement on their CBDC proposals. I urge others to do the same, if you are in the UK or not (link in the replied note).

My response:

Centrally controlled programmable money is a existential risk to everyone in the UK. While on the surface it may have the veneer of a useful tool the potential downsides are catastrophic. Firstly it gives far too much power and control to central planners and takes individual decision making out of the hands of the people. The Bank Of England are not an elected body by the people and have far more weight in manipulating individuals decisions than is safe or reasonable. This whole system design is ripe for abuse and is only safeguarded by the ‘hope’ that those is power do not misuse this power. This is a foolish oversight as the only way to have true checks on authoritative power are by giving the rights and sovereignty to the individuals.

Individual payment scores, programmed spending requirement and the ability to inflate or deflate the money supply at will just serves to create more mistrust and misinformation in a complex market system. It is foolish to think that centrally planned money will lead anywhere other than to hyperinflation and/or massive fiat debt bubbles. You can see this right now and it certainly isn’t because we don’t have a CBDC. It is because the levers of power have been misused.

Privacy both of transactions and individuals in general are critical to a well rounded, progressive and thoughtful nation. If we introduce a system akin to that which China uses, where the state may coercively control individuals finances then we run the risk to crashing into a authoritarian hell.

We’re British, we believe in free market economics, we believe privacy, democracy and the rights of all individuals equally. Not in top down state controlled monetary policy.

-End

Maybe go for something more dynamic. The room sets a base % and each individual then can add something to that.

So say room base = 4%

User is base+2%

Note in this example these aren’t fixed number just for reference.

Smells like fear….

Love it!

Looks like I can send you funds via a direct payment. But for whatever reason the zapping isn’t generating an invoice

Fighting the good fight, keep your chin up chap!

Classic!

Not hard core, but got good pace to it. Enjoy!

https://m.youtube.com/watch?v=TPKQSQSVVos

I recommend the whole “pump up the Valium” album.

Is this summary about right?

CBDC = Money that puts governments first

PBDC = Money that puts the Banks first

BTC = Money that puts the people first

What sort of routine do you follow?

HO HO HO….