Majority rule sounds nice—until it becomes mob rule.
True freedom isn’t about 51% of people voting away the rights of the other 49%. That’s not liberty—it’s oppression with a ballot box. The protection of individual rights is what keeps us free, and that’s a principle worth teaching to our kids early on.
The Tuttle Twins Family Starter Pack gives families the tools to explain why liberty means protecting every person’s rights, not just those in the majority.
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Source: https://www.facebook.com/photo/?fbid=1303830458456958
> True freedom isn’t about 51% of people voting away the rights of the other 49%. That’s not liberty—it’s oppression with a ballot box. The protection of individual rights is what keeps us free, and that’s a principle worth teaching to our kids early on.
AI slop detected!
I couldn't stand the slop either! As soon as I detect it, I tune out
Happy JAN 3 everyone!
In modern parlance: doers are the best thinkers
This sucks, but it's nothing new
https://blossom.primal.net/d5141c4f7baeff7d22b0f7b9d37aa2f5eed12eedbd051d7911f9e3a5204593d9.mp4
Thinking visually about the economics and political means to wealth creation, and how it connects to money.
Being able to think of a single problem long enough is a skill only a few people possess unfortunately, especially in the age of LLMs and social media.
The main reason is that both Bisq and RoboSats have to process fiat currencies. Handling fiat, even indirectly, introduces KYC/AML requirements that they must adhere to. WhiteEyeSats coordinates RoboSats trades, so that's something to consider! https://clearnet.whiteyesats.website/ or http://s4usqbcf2pk2xwghdzaggrxd3paiqpvnl4lm2dxp6dec3wbclgbdyiyd.onion/
Nice, I'll look into it! To go back to my original question, does this leave cash as the only KYC free option?
Why do you think Bisq and Robosats are not KYC free? Genuine question
Isn't it designed in a way that makes it effectively broken for most people though?
It's always a cycle: uncertainty creates money, money leads to capital formation, capital lead to uncertainty.
The kind of changes nobody asks for
Is this Primal? If so, just download nostr:npub1yzvxlwp7wawed5vgefwfmugvumtp8c8t0etk3g8sky4n0ndvyxesnxrf8q!
Hmm but what is it though? I mean what is actually depicted there? I cannot really understand it
I might be out of the loop on this one, what change did instagibbs propose/implement that is now allowing this kind of stuff to be relayed?
84045c18e6f1b948defcf33fb13de0b7bea73dccea056bd8438c9101bd5b339e should have been possible before Core 30 too though, right? Unless I'm missing something
Paraphrasing Naval, not wanting things in the first place is as good as having them. nostr:note1z4dctj54ktmwe4vnazysyt0s79ttk88v37tjm4z9278tf99fhjtsvm3z9f
So basically whatever device you connect to that network is by default on Tor? If so, interesting!
A thousand years seems like an awfully long time, what about 100?
The nature of a permissionless system is that anyone can build whatever they want. I think cashu is interesting, but not sure about its use case to be honest, being custodial is surely a net negative.
With that being said, the community will naturally either adopt or not use something like cashu based on whether it's actually valuable or not, so why bother?
I see what you mean, realism is definitely sometimes forgotten in certain echo chambers
Bank employees are just employees and, as such, are not required to understand how banking really works. Saying that ordinary good people work anywhere doesn't mean that the organization they work for are good in and of themselves.
To use an analogy, we can all argue that McDonald's employees are good, hard working people, but the food there is far from healthy.
Nothing wrong with you're saying, but banks today are not exactly neutral custodians.
Was it React this time? Cloudflare really need to get their shit together
This! If we hope Bitcoin will succeed by waiting for permission from the state then we're screwed. l say let's taint all UTXOs by making them go through coinjoins and then we'll see what is considered radioactive and by whom
Single individuals buying ETFs are very bad for Bitcoin, they undermine its purpose.
What would you say is the end vision for Monero? Does it aim to survive as a parallel system, letting fiat to normies?
We often hear that money converges to one, so I imagine a lot of Bitcoiners expect Bitcoin to become the global money for all individuals and eventually nations, which is either naive in many respects or a very very long term thing.
Would XMR aim at such a thing as well or does it recognize it as something undesirable?
How can I do this at home?
What do you make of articles like this one? https://murmurationstwo.substack.com/p/bitcoin-and-the-quantum-problem-part-47f
Stack more sats
That's obviously true, but what drives it? My take is that there is a fundamental difference in approach towards uncertainty.
Socialism wants to plan and control everything. It literally fears unknown dynamics.
Capitalism embraces uncertainty and places its trust on the naturally emerging behavior of groups and individuals.
I agree with your take, yet I also think that these things are implemented in degrees, where each choice leads societies closer to socialism or to capitalism.
Quick example: capitalism rests on the free market principle where prices are free to move wherever demand and supply bring them to. This is not currently happening with the most important price: interest rates are determined by the central banks. We can conclude that in this respect we're not closer to capitalism.
I wanted to propose this example since too often we hear that "X has not been really tried" and it seems like a mischaracterization of how complex systems work.
i'm impressed that advent of code is still a thing. i used to have a good time doing these challenges in december. https://adventofcode.com/
Because of LLMs?
I'm aware of this "proposal" by Peter Todd. Who would actually agree with it?
I'm pretty sure enabling a change like this would end the Bitcoin project, and if Bitcoin cannot work unless there's a perpetual emission of new coins to keep miners afloat then the whole experiment was good, but ultimately a failure.
Europe, specifically the European Union, is a colony of the United States. Is your last point implying that Europe is an empire in and of itself? It's not, or else Germany and Italy wouldn't have US bases within their territories.
Nice! What's your setup? I'm considering getting one
I was listening to this before and I have to say that I lost him on the oil analogy. Saylor is really knowledgeable and smart, but he mostly is a master rhetorician.
Things are quite simple as I see them: Bitcoin is money. That's it. Pretty hard to entertain a crowd for 30 minutes like that though
What's their marketing excuse? "Share your life* or something?
I'm almost disappointed to say that the Core side really doesn't have good enough points in this debate. Couple that with their dismissive approach to criticism and one is left wondering why should this change be pushed through.
Node runners do your own research and choose very carefully whether you should update or not when v30 is released. nostr:note1jjgv79hraa203pvp9dm4r2ehp7guk7qn4a0w60j743922vedqflsfvssed
Which one exactly is the change that allows Knots not to relay taproot inscriptions? A simple check that disallows OP_FALSE OP_IF or something more involved?
What's your opinion on https://github.com/instagibbs/bips/blob/bip_op_templatehash/bip-templatehash-csfs-ik.md ?
That's what I think as well, but dismissing Core as a bad actor feels too much right now
Bitcoin Core Hitting New Lows
https://blossom.primal.net/9901c5c81e3b1d81437da514ab946aa3888a621dea18ca0fbfc46abb8b87c283.mp4
As I've said many times, Citrea really seems like a shady coverup of the whole thing.
Why can Alpen Labs fit everything in just under 80 bytes?
https://docs.alpenlabs.io/how-alpen-works/bitcoin-bridge
If Citrea sucks as a layer 2 it's its team that should find a better way of doing things instead of Bitcoin Core changing long standing, non controversial policy.
Weird, why would they do that?
6. What's broken? It seems that the real motivation behind this change is that of allowing Citrea to publish arbitrary data larger than 80 bytes. However, why is it that Alpen Labs with their Strata bridge can fit everything they need for *very similar purposes* under 80 bytes? The fact that Citrea sucks shouldn't cause any damage to Bitcoin, hence I'm beginning to think there's unfortunately something shady going on here
It's launch day!!! Damus is now available on all platforms with Android ready to download! Thanks to everyone who has contributed, tested, and waited patiently for this release. We can't wait to hear what you think! https://damus.io/android/
When on Zapstore?
Agreed, however the energy independence part seems almost impossible to achieve, especially taking into consideration that mining is very energy intensive.
What's your take on the energy side?
Yep that sounds good enough, but I'm not sure the suits asked for permission
Would you say there's no hope for privacy on Bitcoin anymore, and, if so, is it mainly because of KYC? I'm just thinking that the tradeoff seems inevitable: the more any given currency appreciates in value, the more regulators and the "old world" institutions are interested in controlling it.
Could things have gone differently in your opinion? And more importantly, do you see any paths forward for Bitcoin in this regard?
For example, would not privacy be good enough (whatever that means) if one purchases KYC-free Bitcoin and then goes through coinjoins on top of that?
Fiat, i.e. going nowhere slowly
Imagine needing to have a Bitcoin custodian in the first place
Should Austrian economics care about macroeconomics?
I think yes!
But Stephan's Livera's guest, Peter At Once, says no. "Sit back and watch what everyone gets up to"
When two people trade, they do it because both believe they will be better off. However, let's not forget that third parties might benefit too. If I pay a builder to build a restaurant for me in an area that has a shortage of restaurants, then many customers can benefit.
There will be cases where two people are close to trading, but they - just about - decide not too. However, if the interest rate was just slightly lower, they might decide to trade and that would benefit society overall.
Similarly, a lot of harm can be done even if we assume everyone is rationally making the right trades. Anybody into game theory knows how bad things can get even with everyone making the "optimal" decision for themselves.
I'm not saying that we should keep the exact institutions that we currently have, such as the Fed and Europe's ECB. We're smart people and maybe we can come up with a better way to make interest rate decisions; perhaps a jury of randomly-selected citizens could decide.
Finally, on Bitcoin. I stack and hodl because it's good for me. And Bitcoin could be good for the world. But Bitcoin will be harmful on average if we don't think about the macroeconomics
30m45s into this: https://youtu.be/lwL5Lbt2_ZI?t=30m45s
Since you're talking about Austrian economics, this is what Rothbard has to say about interest rates:
"Perhaps more fallacies have been committed in discussions concerning the interest rate than in the treatment of any other aspect of economics. It took a long while for the crucial importance of time preference in the determination of the pure rate of interest to be realized in economics; it took even longer for economists to realize that time preference is the only determining factor. Reluctance to accept a monistic causal interpretation has plagued economics to this day."
This is an excerpt from page 389 of "Man, Economy, and State" - https://cdn.mises.org/man_economy_and_state_with_power_and_market_3.pdf
Your suggestion that perhaps a jury of random citizens should select the interest rates is a fallacy, as was already argued by Hayek in his "The Use of Knowledge In Society" - https://www.econlib.org/library/Essays/hykKnw.html
The interest rate is the price of money, so select group of people, however skilled or randomly chosen, should "decide" it.