Avatar
AncapAnon - Activate OP_GFY now!
390b5334739c171d82c84fe7c853462d7607537187f2a0695ede3b297a5b988c

I’m as anti-communist as anyone but I still want to know what part of this is not CIA cut-out National Endowment for Democracy organized and funded.

Bitcoiners swooning over promises of a strategic reserve should keep in mind that, to a politician, “acquiring” does not mean buying from a willing seller at the market clearing price.

It’s a mistake to judge Bitcoin culture by the behaviour of all the simps, scammers and generally stupid people who descend on to mega-conference cringe fests during the bull market. Look closely and you will see that the underground cyberpunks are still there, building, and they will be there when all the idiots wash out as the bear inevitably comes back.

How? Your own report lists 5 questions, all about left or right, liberal or conservative.

Replying to Avatar walker

Fascinating study by nostr:npub1n3sjlzmhpu8rl56umtptc4lua6zkretq2p82yhytnmlcuq639vlqd0te5l

“Part of what shapes identity and behavior in America--surprise surprise--is political orientation. Our political divide seems not only to be deepening, but also becoming the most important fact about identity, the one that trumps all others. So we polled it 5 different ways: What we found was definitely our most shocking result. Like most everyone on this app, our critics in the media, academics who write about bitcoin, and almost all politicians, we thought #bitcoin ownership would skew towards the political right, and towards libertarianism.

Wrong!”

Someone who responds to a survey AND confirms he owns Bitcoin is a moron. There is zero chance that 14% of Americans own Bitcoin. The political orientation questions use the conventional left-right dichotomy that is completely inadequate to identify libertarians.

Lots of reasons:

(1) You don’t want to be an early adopter of new wallet software. Use well-established and widely used open source software for your savings.

(2) Web wallets have historically been terrible at security.

(3) Does not support Lightning, which makes it unsuitable as a spending wallet.

(4) It is a terrible idea to link your identity to your coins.

(5) They may be starting as Bitcoin-only, but their marketing materials talk about “digital assets” - big red flag.

(6) Third parties are security holes - there is no guarantee that they will not be co-opted and you have no control over them pushing a malicious update.

Happy 4th of July to my American friends. Remember today that “taxation without representation” was a psyop.

https://mises.org/mises-wire/american-revolution-was-culture-war

Replying to Avatar Lyn Alden

Some people have grown cynical with democracy (and various types of representative government broadly, e.g. including constitutional democratic republics that enshrine certain rights to protect liberty against the masses), viewing this method as promoting short-term leadership with bad incentives.

I have a different take.

Prior to the printing press and then the telegraph and radio, running a democratic society over long distances wasn’t even feasible. The concept of having people democratically participate in their government relies on people being relatively connected information-wise so that they can use their access to information to know what’s happening and to then select between different options, which you couldn’t do across the entirety of a country before people were literate and election materials or other publications could be mass produced. In the pre-press age of handwritten books, making written documents was expensive, and so literacy was a niche skill.

So, that era was ruled by kings and queens, council oligopolies, and so forth. Representative government, to the extent that it existed, only applied to small city states where people could literally gather in a town square, or to “elites” in a capital. There was literally no way to run an election over very broad distances on a regular basis. The printing press helped change that, and then the telegraph, radio, and other tech further reinforced it.

But ironically, as I discuss in Broken Money, those technologies also started to break our money. The printing press and telegraph allowed the transaction layer (the movement of IOUs between individuals and entities) to grow exponentially more efficient both domestically and globally, while our settlement layer (gold) remained basically unchanged. This broadening gap between fast transactions and slow settlements was increasingly bridged with centralization and credit, and the gap eventually became so wide that every nation dropped the settlement layer of gold almost entirely, except as a reserve asset.

So the same technologies that enabled widespread representative government also enabled the proliferation of softer money. Prior to these technologies, broad democracy wasn’t possible. And after these technologies, sound money was too slow to keep up. Oof.

But over a long enough timeframe, our technology became good enough that we finally figured out how to do fast settlements as well. Bitcoin. People can send value to each other quickly over long distances, in ways that no central entity can prevent or reverse, and with a unit that no central entity can debase. The first sound money of the Information Age.

If Bitcoin is successful over the coming decades and becomes a much larger and less volatile money, than it is now, fully entrenched in society, then that would be the first era where technology is at such a state where broad democracy and fast sound money can coexist. Or put more universally, it will be the first era where information spreads quickly without breaking the money, and thus both fast information and good money could coexist.

I, for one, would be curious to see how that develops.

“Broad democracy” or mass democracy is just a political formula. A narrative told by the regime to entice the low into an alliance against the productive classes. It is not a technology or even a practice, it is a fiction learned in 8th grade civics that most cannot unlearn. Bitcoin fixes this.

Chomsky should burn in hell for his insane Covid positions, despite his sometimes heroic anti-war stances.

Yes but newbs need to be aware of the tradeoffs: (1) you need at least two more secure locations to store backups; (2) you need fatter utxos to make up for the added weight of transactions when you spend which means you have to spend a lot of time consolidating safely or you will compromise your privacy; (3) you need to keep a single-sig cold wallet as well for medium term savings or fees will bite and because you don’t want to access the multisig too often or you may compromise the security of your multisig and because you don’t want to let receivers think you have a big stack; (4) you need to step up your opsec when you spend from the multisig as the tx combined with an IP or any other personal info leak can lead to a wrench attack; and, (5) you need to store multiple backups of the wallet because you and your heirs cannot just rely on the seed words to access funds.

I can’t wait for FROST, which would take care of many, but not all, of these tradeoffs.