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sachin
34f1aaa6b1508de0bab3f086c4bd5bbd7b50f8599451c6e68ac955fc836e3cd6
Contributing to the Bitcoin Breakdown newsletter

Indian here 🙋

Banning platforms they perceive as cybercrime enablers or national security threats is often the preferred route by law and order agencies here.

Nostr will face the same kind of scrutiny in the coming years.

We can't be complacent here. Liberty is a constitutional value but it isn't yet a societal value. We'll get there.

I took the plunge into libertarian and austrian school literature and most of the policy stances that that body of thought advocates for are plausible on a Bitcoin standard.

It lost its relevance primarily because of fiat money.

Bitcoin fixes this.

Bitcoin fixes this.

Every chapter and article in Part 17 of the Indian constitution needs to be removed, repealed, deleted and thrown into the garbage where it belongs.

Bitcoin will be a key talking point of the 2029 parliament elections in India.

The question of internet access being a basic necessity will start being asked and answered. Bharatnet, Tanfinet and Kfon will start being looked at as important initiatives. Telecom Bill 2023 will start being questioned.

By the 2035 elections, religion and identity politics will start becoming less important and politics based on economic policies will start taking the centre stage with Bitcoin at the core.

Trade protectionism and excess taxation will start becoming less popular. Free market capitalism and free trade will gain more supporters in India.

Bitcoin is a scarce monetary asset that will improve the finances of debt-ridden corporations and people in Tirupur.

It is a monetary good that will give rise to a cultural, social and economic renaissance in Tamil society greater than that of the Sangam age.

It is a neutral monetary system will help India to break free from the neo-colonial Dollar-based global monetary and financial system.

It is an energy-based monetary network that will help human civilization to climb up the Kardashev scale to Type 1.

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Internet Access is a basic human right.

Defining 'Left wing' and 'Right wing'

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Bip324 stuff from now on will be enabled by default in nodes that run the reference implementation

https://github.com/bitcoin/bitcoin/pull/29347

Not a fan of 'network states'.

But a huge believer in existing social institutions integrating internet-based services into their governance processes with the goal of being more transparent, effective and accountable.

But the latter is a bit boring and doesn't have zeal in how its articulated.

But here are two examples of what I mean:

1. Local property, water, road and electricity bills paid in Bitcoin.

This would drastically improve the financial health of local governments, and reduce their reliance on grants from state and union governments. Addresses controlled by the municipality or municipal corporation can be tagged or publicly disclosed. Chaumian mints can be used to disburse subsidies, if the government should choose to.

2. Nostr relays that can only be accessed if proof of residence is produced, thereby creating a local social internet.

This means cost of maintenance of relays should be maintained by the local government, funds for which will come from their treasuries. Local institutions like courts, law and order departments and other government departments can use this relay to issue notices, announcements and other official communication.

I'm going to be posting a lot more on here in the coming days as I want to put out some of the things I've noted down as I was learning more about the political situation in India over the last few months.

Open call to unfollow me and follow my notes via private or public lists if you're interested in reading them. There's no way to remove followers on Nostr. We need to move on from follower-following relationships and abandon it completely.

Sipa actually talks about the reasons why the size limit on arbitrary data was removed in a mailing list conversation. I have to find it somehow.

I'm talking about the size limit removal that people falsely claim enabled ordinals and inscriptions while in reality, it was always possible previously to add arbitrary data in transactions albeit to a lesser extent.

Maybe listening to the Chaincode podcast episodes he did with Tim Ruffing about Signature aggregation, Schorr sigs, etc. can provide insights as well.

I suspect the reasoning behind it was to enable devs to do 'interesting things' with the Bitcoin script, but what these interesting things are, I haven't taken the time to understand deeply.

The time some lightning protocol devs started playing buzzword bingo with AI related things

When ideal self-custodial LN wallet UX was still being tested out, asynchronous payments were still in development, backup mechanisms for lightning wallets were still not standardised and LN symmetry was still a conversational topic with nothing more than proposals

When things like these that were more interesting and quite possibly more pressing started to take a bit of a backseat

Was when I realised the ecosystem started to stink a little

Dave Chappelle is one of the greatest comedians of all time.

Republic day is as important as and possibly more important than Independence day.

The Indian constitution came into effect today 75 years ago.

And as a consequence, we rejected the authority of the British King in the land of the Indian union.

Republic day is the day we officially told the britbongs that we make our own rules and define our own values and rights.

It's a day to celebrate, remember and pay tribute to the forefathers who wrote the constitution.

More importantly, it is a day to recognise the importance of the constitution as the single piece of document that can bring everyone in the Indian Union together irrespective of party, ideology, language, culture, gender, religion or caste.

Justice, Liberty and Equality are the values that are common to all of us as Indians.

We must let them prevail for the sake of those who come after us.

Happy Republic day.

•Tesla, one of the world's biggest automobile companies holds Bitcoin

•Blackrock and Fidelity, two of the world's biggest fund managers hold it

•The country of El Salvador has made it legal tender and is holding it in its balance sheet.

•10 ETF's based on it are seeing historic volumes in Wall Street

•Publicly listed companies are mining it

•Circular economies are being built around the world where people are using it for transactions & buying and selling things with it

•Nation states are mining it.

And I still have to explain to people its a legitimate industry that is not just about trading or gambling and that it is perfectly legal and even constitutional to use Bitcoin.

To say that the Indian government, especially the RBI and the minstry of economic affairs and the Indian media have been grossly incompetent with respect to Bitcoin is an understatement.

Sheep. The lot of them.

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