I. Love. Scrapple.
What do you know? It *is* going to zero...
Idk. Probably 58k.
Trust me. I know.
I just miss getting a million sats for only $160 back in 2022.
Crazy knowing it would play out, then watching it play out, but it still feeling like a wild dream.
Price going up is kinda sad...
Worked a lot of OT in the last two weeks, and it might not even get me a million sats...
The fractional reserve banking system is basically just a game of musical chairs.
As much as Bitcoiners talk about selling their chairs, buying and holding Bitcoin could really be thought of as stacking chairs in this game.
Definitely not the same. I am determined to buy every bottom and every top.
First thing that came to mind upon reading your note:
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Powell states he will not step down if Trump asks him to at the ongoing FOMC press release.
Along with Steve Lee of Spiral and Ren of Electrical Capital, I co-authored a paper on Bitcoin consensus and the analysis of risks around protocol upgrades from a technical & economic perspective:
https://github.com/bitcoin-cap/bcap
Here's the v1.0 PDF version:
https://github.com/bitcoin-cap/bcap/blob/main/bcap_v1.0.pdf
It explores what consensus is, how Bitcoin has historically upgraded its consensus over time including through contentious periods, and what some of the future paths and associated risks there are for potential changes in the future.
The paper doesn't take a stance for or against any given consensus change, but rather analyzes the field for how changes are made (which partially evolves over time as the network grows, i.e. 2024 is different than 2017 is different than 2009), and what some of the specific risks are for contentious changes from a blended economic and technical perspective.
For example, we analyze scenarios around bounty claims, which is a risk that can manifest when the majority of miners adopt a change but only a minority of economic nodes have:
https://github.com/bitcoin-cap/bcap?tab=readme-ov-file#how-might-this-occur-with-a-soft-fork
And in a world of sovereign holders, corporate treasurer holders, ETF holders, and so forth, some of that could play out differently today or in the future compared to how it might have played out in the past. And so we provide a framework to help analyze those scenarios and risks.
For the v1.0 version, we had the paper reviewed by major exchanges, ETFs, corporate treasurers, developers, miners, legal experts, philosophy professors, etc to make it as accurate and helpful as an educational resource across domains.
However, we consider our initial version to only be the start. We're releasing the paper to the public domain, and inviting people to contribute to it or even help maintain it on Github.
It's a living document, in other words. We're not the authorities on this; we just did a lot of research and review on the topic as a starting point. If there's something you think could be clarified, or something you disagree with, then we invite your contribution! And a big thank you to the initial people that reviewed it and provided feedback for the initial v1.0 version!
Nice article! Glad to see I'm not the only one harping on about this.
https://bitcoinbarks.com/Barks/should-you-spend-bitcoin/#wbb1
I’ve got 2 pod recommendations for you on post-election. Again, feet in both words, you can predict A LOT.
Normie progressive take: https://fountain.fm/episode/diIwlQAHyV6DTsMhoaUx
Balanced bitcoiner take: https://fountain.fm/episode/5I4mnJYRJkVH3jnXow1r
When you have feet in both worlds, nothing is a surprise...