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Econ guy Konrad
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Accepted opinions only Misesian-Mengarian economist and bitcoiner

Is it possible to create a multi-sig scheme for an NSEC on NOSTR?

Surely we can use a similar scheme as we do in Bitcoin?

Spitballing a decade out when we're going to possibly need collaborative custody of our NSEC and ways to pass it on to our heirs.

Feel like we're gonna need both an equivalent to BIP-39 for our NSEC and air-gapped signing devices for our NSEC

Absolutely

Next week is a pinot noir I reckon

Willing #winestr into existence

Barossa Valley Rielsing (2024) to start the sunday afternoon off the right way

Limes, lemons, fruity, very young wine

Pairing? I dunno, whatever goes with limes. Some nice german cheese possibly

#winestr

Replying to Avatar calle

Reload?

Nothing

i'm on Chrome fyi if that makes a difference

Was Fringe soft disclosure?

Replying to Avatar Ben Justman🍷

You're being lied to about wine, Anon.

To most people, vintage variation is entirely theoretical. They haven't actually experienced it and even if they have, it's a bit shrouded in mystery.

Have you ever taken the time to open up 2 bottles from the same vineyard of different vintages at the same time and given them the attention it takes to recognize the differences?

Vintage variation is ephemeral and hard to experience.

That's exactly why it's become lost in most American wine.

The average wine consumer is buying a $20-$30 bottle. They're picking by variety, then likely by finding a cool label. Once they find one they like, they stick with it because the wine aisle is an extremely daunting place to be.

That wine brand now has their loose loyalty because you liked their product that one time and know where to find it on the shelf. If the winery makes a vintage that tastes different (not necessarily "worse") they could lose you as a customer.

Not to mention, the ratings agencies that score wine have very specific flavor profiles they look for and, at the scale of these wineries, the difference between a 90 and a 91 score is millions and millions of dollars.

The fiat wine world incentivizes manipulation, and sameness and blending between vineyards to the extent that vintage variation is an extreme afterthought and no one even knows they're missing it.

But Ben, if no one even knows they're missing it, why should I care?

Vintage variation is a look into the soul of wine. You can tell characteristics about the vineyard from any vintage, but the difference in taste year to year is that ephemeral bit that makes people go crazy about wine in the same way that people go crazy about bitcoin when they first start going down the rabbit hole.

It's the secret sauce.

It's what truly differentiates soulful wine from the grape derived alcoholic beverages that are created by food scientists in labs that pass for wine these days.

Most bottles are just empty vessels. The soul was never invited in.

We've had Fiat Food

It's time for Fiat Wine, ben, it's time

I've written a piece on why we have a market for frequency ancillary services in the modern electricity market (Australia specifically).

Building up from first principles using an (over)simplified example. I explain what happens to a simple system without control before introducing control systems and how AEMO coordinates our grid.

https://primal.net/e/naddr1qvzqqqr4gupzq9pqdfnf38nagatwdnxxgwv2qphx2plzkftehlhjaeu6qe5fwfw0qqhhw6re94jx7tthv5kksctkv5kkzttdv9exket594nx7u3dveex2ut4v4hxx7fdwdjhyanfvdjhx0cve3rlz

Imagine how much less of a burden the welfare state would "need" to be (to meet people's expectations). Every year the narrative is always about increasing transfers to help cost of living, or increasing numbers of people facing material hardship.

Same goes for "government services" financed through tax.

Societal shifts would be immense from this alone.

You can just learn things

Bro, it's a mindblowing invention

We have self-sovereign social graphs now

Plus a meaningful change in the incentive structure of a two sided market + platform

The difficulty adjustment is very cool, actually

Bro every time I think about the world the boomers were born into and then look at the world they handed us I wanna fix shit.

Both BTC price and M2 are highly integrated series

So the simple correlation could be a spurious regression unless you correctly treat the standard errors

I did this late last year (so its missing a few more recent months)

It shows the short-run relationship (measured by a simple linear correlation) is not statistically significant (p value of 0.51, we'd ideally like to see something under 0.05)

But other research i've done indicates there's a long term relationship and actually a "Granger-causal" relationship between m2 and btc price.

There is a relaitonship between m2 and btcprice but it's not as simple as