#RHR #ETF
#NOTSELLING
80s/vb
Act accordingly
Keep it simple.
There’s a dying world reserve currency that the humans will not be able to save.
There’s an emergent secure, scarce, difficult to sensor, easy to secure, leaderless money alternative.
The choice is obvious to some, it will be obvious to everyone eventually.
ETF price predictor bros r getting amped up on X.
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RHR live at Pubkey?
Could happen….
Guard Dog security budget.
If dog is ferocious enough, they rarely have to bite.
Paraphrasing Pierre:
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Permissionless nature of mining is more important than the absolute size of the resources consumed in the mining process.
When “attacked” the system responds with an increasingly lucrative fee market that incentives others to mine without having to ask anyone.
Responsively Resistant. Tough only when you need to be. Kind of like the toughest kid in the school yard. Doesn’t have to fight all the time. Everyone knows the cost.
Leads to situation where humans *can’t* sustain attacks: too costly.
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https://open.spotify.com/episode/2c7MW38jQQFgZOEo9PFivu?si=eWoLO4QQRb22rZM9sbxDCA
Just finished Principles of Economics.
Clear, concise, well written. Perfect length and details. Builds on first principles. Outstanding.
We need to propagate this to the youth. The logical, easy to digest counter to the current clown system and the fugazi concepts that underpin it.
#saifedean 🔥
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Funny how 250 sat/vbyte now seems reasonable ….
Bitcoiner’s will **soon** be large capital allocators. Keep stacking. We will win.
Years?
Not decades.
Good points.
In ordinals/inscriptions case I believe the data is in the witness, so it lives in the transaction ID, but not in the UTXOs….. so it’s not really “on the blockchain” in bitcoins case. See Guy Swan’s latest on this.
We will see if these things will hold their value overtime. I’m betting no. Might take a few more years for this to play out.
Thanks for the thoughtful exchange.
Exactly my point.
The difference is that reproductions in the physical world are more readily sussed out as different from the original. Whereas in the digital world they are literally EXACT copies: same ones & zeros, copied millions of times, still exactly the same.
Making it scarce would be the following: commission the artist to make it piece of digital art. Make sure they don’t make copies or sell it to others. Don’t upload it anywhere.
If a high quality work is inscribed to the witness data on a bitcoin transaction and thus “owned” by someone, what is preventing me for downloading the file (it is just 0s&1s) and saving it as my screen saver?
Doesn’t seem scarce.
#pubkey 🔥
Great meetup. Thoughts on inscriptions/ordinals:
It will burn out.
The savy dialed in degens are minting/creating/pumping new nft/tokens to sell to the less savy. It eventually trends to zero. They cannot create true digital scarcity. Even really high quality digital art is not scarce. The artist can/will keep a copy, mint more, or make another one. True scarce digital art is not possible.
The current fee spiking is during the pump faze. They will be less eager to pay during the post dump faze.
This is however a net good. Stress test that is incentivizing the building of off chain solutions. Forcing function.
Like usual, everything is good for Bitcoin.
The dots? WTAF
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Bitcoin is forcing humans/gov/societies to get their sh*t together. True value requires real work and sacrifice. The free rides are coming to an end.
Work. Earn. Save. Practice and preach personal responsibility.