You thought centralized fiat money was bad, but consider the idea of centralized fiat AI.
With power over a money printer you can manipulate economies. With control over the strongest AI you ARE the economy.
We need to work on making the frontier models completely open from the data to the hardware and everything in between.
“Affordable” lmao. Sabotaged by the swipe keyboard.
And for a convenient set of resources all in one place I put this together: https://github.com/machuPikacchuBTC/bitcoin
I’m not sure swapping to a shitcoin works for several reasons.
Most importantly most of the shitcoins are low liquidity and centrally ran so it can be risky to wash more than say 1M sats at a time and also somebody somewhere can still see the entry and exit. Not even convinced Monero works in this case since there are reports of governments successfully tracing funds. No idea if that’s true; could be FUD.
Coinjoin is probably the best way at the moment. I’m optimistic there will be better options in the future though.
TL;DW: as long as your stack is growing you’re winning.
Don’t focus on the units and the fact that you’re getting less income in sats over time. Everybody is going through that. Focus on building a sustainable business model by providing actual value today. A “growth at all costs” mindset on average leads to fewer sats in your wallet.
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It’s hard for our generation to understand what money was like during our grandparents generation.
It’s hard for our grandparents to understand technology.
It’s hard for adversarial governments to relinquish control especially during periods of escalating tensions.
This is why hardly anybody truly understands what bitcoin is doing to the world.
Big win for privacy in the US!
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For anyone trying to orange pill their friends I put together a basic starter kit here [1]. Some people like to have a set of notes and links to refer to at the start.
Do they have a regular website or do you have to use their app? Seems a little odd if you can only interact on mobile.
What Andreas says here about bitcoin applies equally well to decentralized social networks like Nostr.
It’s clear what Bitcoin has done to the financial world and governments in just 15 years now imagine what an open, permissionless, censorship resistant social network can do for the world in another 15 years.
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“We have to understand that there will be closed, centralized systems. Those systems will appear faster and cheaper. We don’t beat PayPal or Visa, we don’t beat the banking system, by doing what they do, becoming them but only ‘weirder’.” - Andreas Antonopoulos
“The Internet of money volume three”
The “many worlds” interpretation of the global state. Since the same Npub can post to different relays and feeds can be ordered differently based on the client or algo relay, there are some interesting consequences for consumers at large.
Just waiting for the inevitable “yachting accident” where they “lose” their keys.
As long as fiat exists and can be traded for bitcoin then a money printer can back the FPPS pool indefinitely.
I imagine as governments adopt mining they’ll require hashers in their jurisdiction to mine in their FPPS pool where they can control the block template. The allure of a fiat insurance policy will be tempting for all the big players.
Until the block subsidy becomes insignificant and fees become more relevant we’ll have large industrial miners for governments to court.
After that shift though the economics start to favor small, passive mining rigs like space heaters and such and for those people something like DATUM, which gives a better payout long term, will likely dominate.
As more hashers migrate to pools like Ocean the FPPS model likely breaks down.
In order to smooth out fee payments the pool needs to retain a stack of bitcoin to pay out during the unlucky periods. As the pool starts to lose market share that stack quickly dwindles and the payout becomes unsustainable. At least in theory.
If a fiat money printer is backing the pool then hypothetically they could buy the coins on the open market and keep the scheme running indefinitely.
Over time Bitcoiners become more economically relevant and as a result you’ll see more vendors and local governments forced to accept that reality.
Same here. I don’t want new functionality on chain if it can be done securely otherwise. There’s a lot of talk of covenants these days and I’m not convinced we need them.
Maybe we don’t need covenants on chain?
Write a script that encrypts a method for signing a transaction [1] that pays out to arbitrary addresses defined within the script or as an input at runtime.
At runtime you supply the preimage for a SHA256 that has a specified level of difficulty (like maybe 20 sequential blocks using some anchor block like the current chain tip or 6 blocks ago).
This way you get to leverage the proof of work from the chain without touching it directly. You could even use block hashes for a random number generator inside the script [2].
As long as the runtime script is blinded from the machine running it and it accepts a payout address you can have the script perform arbitrary computation and verifiably be rewarded with a UTXO.
Once the computation is ran you broadcast the output UTXO and claim the reward. First person to broadcast gets it. Then you could have a marketplace maybe even here in Nostr.
Curious nostr:npub12rv5lskctqxxs2c8rf2zlzc7xx3qpvzs3w4etgemauy9thegr43sf485vg what you think. Maybe something like this could be used to start a decentralized mint since you can perform arbitrary computation?
I know next to nothing about homomorphic encryption but in principle it should work.
Sources:
The script needs to be encrypted and blinded to the person claiming the reward since it will have a private key embedded in it to sign the transaction paying out.
You can create separate UTXO to use specifically for input to the reward so the only funds at risk are what would be provided to the person running the script.
The script could be written in any language since it doesn’t touch the chain directly.
Maybe we don’t need covenants on chain?
Write a script that encrypts a method for signing a transaction [1] that pays out to arbitrary addresses defined within the script or as an input at runtime.
At runtime you supply the preimage for a SHA256 that has a specified level of difficulty (like maybe 20 sequential blocks using some anchor block like the current chain tip or 6 blocks ago).
This way you get to leverage the proof of work from the chain without touching it directly. You could even use block hashes for a random number generator inside the script [2].
As long as the runtime script is blinded from the machine running it and it accepts a payout address you can have the script perform arbitrary computation and verifiably be rewarded with a UTXO.
Once the computation is ran you broadcast the output UTXO and claim the reward. First person to broadcast gets it. Then you could have a marketplace maybe even here in Nostr.
Curious nostr:npub12rv5lskctqxxs2c8rf2zlzc7xx3qpvzs3w4etgemauy9thegr43sf485vg what you think. Maybe something like this could be used to start a decentralized mint since you can perform arbitrary computation?
I know next to nothing about homomorphic encryption but in principle it should work.
Sources: