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Phundamentals
5677fa5b6b1cb6d5bee785d088a904cd08082552bf75df3e4302cea015a5d3e1
Author: Bitcoin for Institutions https://zeuspay.com/btc-for-institutions Co-Host of Rock-Paper-Bitcoin, Motivating the Math, Sound Coffee, and Back on the Chain podcasts Study math, be sovereign

I would ride or die with someone who believes they are spiritually chosen over someone who believes they are politically chosen - any day of the week.

Politics is spiritual murder.

It’s the stencil for how the WHO drew COVID-19 with a crayon

I love a good bloom.

Maybe there’s a connection to Bloom Filters.

#coffeechain

My go to for beans is my Blue Bottle’s single origin subscription.

I can’t say the taste is always spectacular but the quality of the beans is always visibly superior. I also subscribe to Angels Cup and the consistency difference in Blue Bottle’s baseline is tremendous.

I’ve begun to time label my notebooks by block and date.

Alone, they are not too important, like a handful of rice and a handful of salt.

But make them one thing - and you have something pretty special.

#risk

Individuals will lose bitcoin and will benefit the network (everything / 21M).

But institutions will lose bitcoin and (my opinion) detriment the network. They rugpull their service, create a loss of confidence, and then dump whatever bitcoin they have left on exchanges.

So my unpopular opinion is:

The network should be appropriately discounted (in fiat) whenever an institution holds a large portion of the networks coins.

But on the other side:

Insurance provided by a well funded fiat not denominated in the network currency can remove that discount to the extent their limits prevent the consequences associated with lost bitcoin.

First principle of risk: the expected loss = frequency * severity

Because losses in Bitcoin are total, the severity is infinite.

People don’t grasp how consequential this is for the world but every sat holder is holding together the value of the network.

People don’t need to verify anything until they realize that they can. This applies to nocoiners and Bitcoiners.

I didn’t know I could run my own firmware on a miner until I heard about Braiins and looked into it - now I can’t imagine a miner just trusting it.

Same goes for wallets, Lightning channels, social media hosting servers - it’s endless. It’s the rabbit hole.

The rabbit hole is the journey to verify.

Pretty big miss by Bitcoin Magazine - I almost want to give back the 25 sats they gave me for reading it.

https://bitcoinmagazine.com/culture/top-five-us-cities-for-bitcoin?utm_source=carrot&utm_medium=partner&utm_campaign=carrot_share

It’s quite a coincidence that something supposedly leaked from a lab in the same city in the same time when 5G was launched

SPX - this was 5 days ago still holds up

Maybe the worst rugpull ever - “I can’t actually have a baby - I never could. I thought it was a state of mind but looks like it’s not”

I started around Thanksgiving with Jimmy Song's Programming Bitcoin, then Antonopolous' Mastering Bitcoin - then did the Base58 class. Couldn't recommend these more highly.

Drinking 2 cups of high quality coffee a day will not cause an addiction.