Profile: 59d08b76...

Many people mistakenly believe that Proof of Work gives Bitcoin its value or that Bitcoin is "digital energy." This is not accurate. Proof of Work does three things:

1) Proof of work lets each node in a decentralized network independently determine which new block gets added to the Bitcoin blockchain.

2) PoW lets each node in the network independently verify the integrity of the blockchain.

3) PoW makes it prohibitively expensive for a bad actor to falsify the history of valid bitcoin transactions.

That’s all PoW does. It does not store energy. It does not digitize energy. It does not give Bitcoin its value.

Proof of Work provides a strong, mathematically verifiable signal that others value Bitcoin, as they are willing to expend a tremendous amount of energy to find the next block.

Ultimately, Bitcoin's value comes from the belief that others will accept Bitcoin as payment for scarce resources.

It’s that simple.

I wonder how many in the Nostr community know about Groove Networks and the P2P wave of the late '90s and early 2000s.

Stopped by the Damus booth at the Bitcoin Conference and got a demo of the new client. It was 🔥

Would ARK be giving funds directly to developers or going through an intermediary like Brink?

Headed to Dubai for Bitcoin Davos.

Happy New Year. May 2024 be the best year yet for Bitcoin.

My favorite Christmas gift is a mug with the Bitcoin logo smashing the Federal Reserve!

The UAW does not approve. Automobiles must be created in a manner that maximizes the utilization of union labor.

Drivechain for Nostr 🤣

Replying to Avatar jimmysong

# Desiring Status

The allure of status and the desire for approval from high-status peoples is intoxicating. Such esteem boosts our social standing and offers us credibility, essentially serving as a social drug. It’s similar to the rush of being treated like a rock star, with your every action being celebrated.

However, this pursuit of validation has its drawbacks. The praise and respect from the influential comes with a price. Usually, you have to achieve something remarkable to earn it, which is a challenging but merit-based approach. Alternatively, you can hack the system, navigating through political manipulation. This involves currying favor, flattery, and altering your beliefs to appease the elite - a fiat method that has sadly become quite popular.

Unfortunately, this second method destroys your soul. You end up debasing your original beliefs, becoming a chameleon that changes color according to the situation. Any genuine belief you retain becomes so diluted and non-controversial that it holds no power to effect any meaningful change, even if you acquire a position of influence. This phenomenon explains why many politicians, products of the fiat system, are so ineffective in bringing about substantial changes.

To truly effect change, one must resist the temptation to play this approval-seeking game. The moment we achieve greatness, the game shifts, and the approval from the elites can trap us, forcing us to conform to their values. This conformity distracts us from our original path to success.

In essence, seeking status offers instant gratification and superficial prestige, but it also debases your being and hinders your power to do good. Hence, the best approach is staying true to your convictions and focusing on meritorious actions, rather than succumbing to the allure of fiat approval.

Peace and freedom trump status.

Are ya’ll still here?

Memorial Day weekend on Lake Austin.

Perhaps we need a Bitcoin holiday where the Honey Badger brings sats to the children of the world. Giving candy to kids worked for Easter. 🐰

You were off by one letter in your username. What a shame. 🤣

NVK > NDK

Has anyone written a good summary of the Nostrica conference?