Sounds expensive, but worth it.
Playing with old models. Antminer S15. https://nostr.build/av/50a01ec4d5455ed22d56032d35a195e80201c741a0b232f6d6ed70fc1a481b51.mov
That’s a rare one! Did they suffer the same malaise as the S17s?
Awesome pod with Pete and nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx on WBD. https://fountain.fm/episode/Zqr1U64JmE0fPW59cq8f
I respect Matt a lot - he has extremely coherent arguments, even if I don’t agree with all of them. Good to hear his thoughts outside of his own pods
The US is one of the only places you can even get a 30Y fixed rate mortgage. Canada, UK, most European Union countries, the tenors are much shorter (even if the amort schedule is the same).
That being said, I don’t think they’re going to “go away” per say. The 30Y mortgage is not difficult for banks to create and hedge. Without YCC and financial repression, the natural rate for UST yields and mortgages will continue to push into the double-digits. Still, my base case is YCC and financial repression “allowing” the middle class to continue to lever up housing. It’s politically easier than the alternative.
Consider Japan and the structure of their mortgage market. Decades of ZIRP have pushed the majority of loans to floating rates. Now the BoJ can’t raise rates without rekting the middle class, who have gorked 30+Y floating rate mortgages.
America is in a better position, but only marginally. Household balance sheets are holding in, but nobody can move because they’d have to refi their sweet sweet 30Y fixed they locked in in 2021 at 2.99%. nostr:note195fsfn7klj38jz7dcq25zmked0hs0k6we3ygzz5vq5knccq7exhsj8usgg
What if Elon nuking Twitter was just an elaborate ruse to get us to hang out with friends and family over the long weekend?
Mirror Mirror… 
Elon: “We need to stop scraping, it is affecting usability for
real users!”
*Proceeds to nuke twitter for real users*
Cc:
note1e7tf43su46rd75ylks7xhapdj523racmw8gkals6eznfh84mp3es56a5wn
Nostr rate limits working just fine :)
Thinking about ASIC relative value trading today.
Surprised more aren’t talking about this.
Hypothetical for you nostr:npub1xtscya34g58tk0z605fvr788k263gsu6cy9x0mhnm87echrgufzsevkk5s ...
Apple say you can keep note zaps in nostr:npub18m76awca3y37hkvuneavuw6pjj4525fw90necxmadrvjg0sdy6qsngq955, but you have to 30% split to their LN Address with a minimum of 10 sats per transaction to them.
Waddaya do?
Orange pilling Apple aside, this feels worse than just deactivating zaps for iOS clients.
Does Apple take 30% of zaps from Android users? Desktop users? If not, is the receiver on an iOS device charged the 30%? or the payer from an iOS device?
F2 announces they will auction off “uncommon sats”
I suppose this is what F2 is doing with the 546 sats they split off the coinbase tx
What are the “uncommon” sats worth? Does it make sense to switch pools or solo-mine to capture “uncommon” sats? Might the value of “uncommon” sats push pool fees to zero? Intg to think abt
Interesting to think about empty blocks in this kind of fee environment.
Conventional wisdom suggests that once a block is found, while pools construct new block templates, just mine empty block templates until you have a real one.
This assumption relies on the idea that tx fees represent a relatively small part of the block reward.
What about when tx fees represent the majority of the block reward?
We almost saw this earlier. Block 778703 was mined by ViaBTC less than a minute after the previous block. The next block came two minutes following, and had 5.90btc of fees.
In the future, as subsidies get smaller and block rewards represent a larger part of miner revenue, its highly likely that, in addition to responding to bitcoin and electricity prices, miners will turn on and off depending on unconfirmed tx fees
High fee environments are such great learning experiences. Thousands of plebs learning in a live environment:
- UTXO management
- Fee rate management
- Using RBF
- Lightning channel management
- Segwit & Taproot
Wallets & services that abstract away these things may work in a low-fee empty mempool environment but either break or become very expensive in a high fee environment.
Does NK have reliable power? Only 26% of the country’s households have electricity
Russia now at 1GW: kommersant.ru/doc/5915688
Russia, having 500MW at the end of 2022: https://news.bitcoin.com/russia-expands-its-crypto-mining-capacity-report-reveals/