Price going up is bad for bitcoin. We need more scaling solutions ready to go and potential for profit is what makes the pain of bitcoin worth the effort. The higher price goes, the less upside remains and hence less reason to adopt bitcoin (in part).

But then again, high price increases distribution. But there is still so much work to be done…

Then one should expect profit, on average, in 10,000 years, if solo mining.

I haven’t looked in to pool mining, but it would only pay out like $20/yr…maybe there’s a Lightning payout mining pool.

Brilliant. I always forget about that. Didn’t exist when I started using web browsers and then I disappeared for a decade or so in medschool/residency/fellowship and everything was so different when I got out and started learning about the world again…

Finally got a BitAxe. It’s fun!

If you interrupt loading of the settings screen, you can input your own ASIC frequency and voltage setting.

Instead of the 490 MHz default and 590MHz max menu option, mine can run at 800MHz, albeit a bit hotter than I’m comfortable with and probably not stable as the power brick struggles to beep up.

But 700MHz only moderately stresses the brick and temps are between 60-65C depending on ambient air temperature.

Here’s to the lottery mining hobby! With these settings, it’ll cost $29 a year for a 1 in 10,000 chance at solving a block. Current expected value of this hobby $18.75, so clearly one can’t do this with an expectation of profit…and it’ll take 10,000 years to have a 50/50 chance of breaking even (assuming hash rate, power cost, snd bitcoin price stay fixed).

This is true. But I’d have to give up my medical career to take advantage of the tax break. Not ready for that yet!

I don’t know why I can’t figure this out, but it is it more tax efficient to periodically sell all bitcoin and immediately buy it back, pay tax on gains or to wait and never sell until the end of investment lifespan?

Example: if I bought 1 bitcoin at $10,000 and will sell all when bitcoin hits $1,000,000…

Would I pay less tax if I sold all bitcoin at every $10,000 increase in price (and immediately bought back with whatever post tax money I had left) until price hits $1M or just hold all bitcoin until price is $1M? Or is it the same in the end?

Assuming tax rate is always long term rate for high income people (28%).

Amen brother!

I’ve never heard him fud about seedsigner. But I could see him calling unintended uses of seedsigner as unwise/insecure.

Seedsigner is a great device. It’s fundamentally different than a coldcard.

The main choice is this: do I store seed on device or not? This isn’t exactly a binary choice either…you can store some seed material on device and keep remainder in objectspace and/or meatspace.

If you decide that memorizing your seed material makes sense (eg, 12 words without passphrase in the easiest case), then either device will do.

As far as storage goes, all the coldcard does is allow you to put a large amount of entropy (12-24 words, 256 dice rolls, passwords or phrases, and/or a combination of the above) behind a small amount of entropy (PIN code) with brute force limited to a small number of attempts. This is a powerful security feature not necessarily needed by some people.

When picking a device, consider your long term seed strategy. Are you going to use a 12 word seed and a pass phrase, then punch out a seed plate (https://bitcoinseedbackup.com) and hide the plate? If you die with pass phrase, your coins might be inaccessible if your passphrase was any good. So are you gonna write down passphrase and hide that too? Or maybe tell a friend?

Long term key storage is an unsolved problem. Lots of variations on the scavenger hunt and social backup strategies…I’ve been through a few different setups and all I can think to do is involve time, travel, and other humans to slow down unauthorized access to the seed material I make physical…it’s just a matter of time before bad guy gets your coins. But EMP attacks aren’t to be feared.

If you trust electronics for storage, which is reasonable through redundancy (eg, get a couple cold cards and store separately), you can trade time for probability…instead of making it take a long time until bad guy gets your coins in the case of physical seed storage, you can give him 10 shots at guessing your pin or the device deletes the private key material in the coldcard storage case. If bad guy gets every coldcard, he can effectively destroy your coins. EMP attacks will yield same result.

You can’t have it both ways. But, there are ways to trade on-chain time for reduced complexity seed. You could have it such that any coin not spent for a year, or two, or 5, can now be spent with a different key…presumably one fully existing in some physical object.

Sorry for the poorly worded rant. I’ve been thinking about this for over a decade and we are only just now getting to what I hope becomes the future standard: time decaying seed complexity. Maybe someday I’ll write a draft of what I believe to be an ideal strategy. I need to start a company for this and offer it as a service after publishing a DIY guide.

nostr:npub1ate84ggysvau69hkw9ygkqwktak6xqtrkkzg465eva7vj37aqz4qqwmf3z Did you know a 1.5 meter dish should be sufficient to get Blockstream satellite service via Galaxy-18 in El Salvador…including El Zonte? Not as convenient as Eutelsat-113 would have been, presumably (footprint deleted from satbeams.com).

Someone let Max and Stacy know I wanna come over to their house to play satellite setup sometime. And maybe President Bukele too…maybe we can set up an NGO like Blockstreamers Without Borders or something so I can write it off on my tax return :)

Mental dyslexic typo?

Well…if you suck at business, it’s easier to cheat and be unethical. There is that caveat.

Don’t tempt me ;)

I’m looking at it…

Bitcoin sale!

Example: denying someone the right to vote because they forgot their ID at home.

I’d be happy to test this idea. I like books and other things that start with boo…

Only problem is nobody knows what calendar system that month is a part of.

They argue it’s a right to vote, therefore the government can not infringe upon this right in any way.

Now take the right of keeping and baring arms…they infringe all the time and don’t give a shit.

Hypocrites unmoored from first principles.

This will be the most popular library in the history of libraries. 😂