Same here. The schools are doing their best to fan that flame, too. Hopefully we go orange faster than we go red

except she meant communism was the moral revolution

Interesting, but tricky to wrap your head around 🤯

We'll have some prices falling faster than others.

- Some items (esp. technologies) will become better while decreasing in price only slightly.

- Other items (e.g. apples) will be an unchanging product and hence decrease faster, at about the same rate as new value gets created elsewhere in the world.

- Completely novel categories (e.g. flying cars) will add new value and push all other prices down.

So we could estimate GDP growth to be roughly equal to the rate of price decrease of the apples category.

* numerator, not denominator

I'm with you, measuring in fiat is a crazy way to look at the world because its supply increases arbitrarily. On the other hand, how will we measure growth in Bitcoin terms, once fiat is out the window? In your calculation above, you divide 900 trillion by 21 million, which makes sense for right now. But once there is no more fiat, what is the denominator? I know the meme, "infinity divided by 21 million", but concretely how will we measure e.g. economic growth in a Bitcoin denominated world?

That's great! Except I don't know what nests is 😅 .

I'll fire off the first question by text. In your recent interview on the Block Reward podcast, you said that Bitcoin was repricing everything forever. I believe the same thing, but at the moment, there is another (stronger) dynamic at play: Bitcoin is being monetized. People are putting monetary energy into Bitcoin, by buying and holding it, i.e. transferring monetary energy from fiat and other assets to Bitcoin. I would expect this dynamic to slow down by a lot at some point - at the latest when essentially most of the world's value is stored in Bitcoin. Only at that point (IMO) could we really measure the dynamic that you described, in which the gains due to technology accrue to us instead of being stolen from us.

I would be grateful for your thoughts on this!

congrats to all who stuck through this

nostr:npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe can you do an AMA here on #Nostr sometime?

I'm way below Dunbar's number

Hi #Nostr client devs, today's item for the wishlist: I would like to be able to follow people in *tiers*. For top tier followers I want to see everything they wrote at the top of my feed, so their notes don't get buried by 1000 other notes that were written while I slept.

🫡 I appreciate you #nostrdev

GM! Today's adversarial thought: in the face of a rising #Bitcoin, the old guard could decide to re-monetize gold, which is largely still under its control.

Jeff, this is a difficult insight to achieve, especially for someone who is not familiar with game theory (i.e. the vast majority).

They say a picture is worth 1000 words, have you thought about some graphical ways of conveying this idea?

that you've both built and driven lambos, then got sick in them

humblish

A central bank is as close to a naked emperor as you can possibly get.

#Bitcoin

Good point. In #Bitcoin, the protocol is practically frozen because any incompatible change (hard fork) splits the network, which destroys value. The culture is rabidly hostile to protocol changes.

In #Nostr, the culture is much more trigger-happy with innovations, maybe too much so. You could argue that the stakes are much lower, the network is still small, and partial breakage of notes has much less impact than incompatibility on a monetary base layer.

However, as it stands, Nostr is effectively not a protocol.

unbelievable

Why do the dog coins have $20B market cap? Seriously

GM keep stacking rug rats

😂 what? I'm puzzled. Am I missing certain relays or certain clients?