“Another area of focus for Blockstream is digital signatures. The company has developed Cross Input Signature Aggregation (CISA/XISA), which enables multiple inputs in a single transaction to share a single signature, reducing the size of transactions and improving the efficiency of the Bitcoin network.”
I saw this on Twitter* which seems relevant to your note:
“Fun fact: Adam Smith, the godfather of capitalism, advocated for aggressive land taxation. Otherwise, feudalists will drain productivity from society & hinder progress.
So the feudalists called themselves capitalists & convinced the schmucks they should tax their labor instead.”
https://twitter.com/stephenpunwasi/status/1628797457327964163?s=12&t=woqxTr-KL8JAJqJR1CFmVQ
*hangs head in shame.
The most pernicious aspect of this system, and what makes it possible to define as a form of slavery, is that no one opts in to treasury auctions. Americans aren't asked whether or not they're okay with the Treasury issuing more debt in their names.
https://tftc.io/martys-bent/issue-1322-debt-slavery-via-treasuries/
This all seems unsustainable and yet it has endured for so long. May be it will continue for longer than we predict. Nevertheless, the right thing to do is to opt-out:
“The most effective way to get away from the system of debt slavery is Bitcoin. A currency that cannot be debased that exists on a peer-to-peer network with push-only payments.”
“What matters in a world of uncertainty is holding the most certain asset.”
https://europeanbitcoiners.com/bitcoin-is-an-etf-on-global-ingenuity/
“What matters in a world of uncertainty is holding the most certain asset.”
https://europeanbitcoiners.com/bitcoin-is-an-etf-on-global-ingenuity/
“Any digital version of the dollar must uphold our American values of privacy, individual sovereignty, and free market competitiveness. Anything less opens the door to the development of a dangerous surveillance tool.”
“The story here that has been unfolding for more than a decade’s time is the evolution of the strongest, decentralized computing force the world has ever seen, yet most miss the forest for the trees…
…Short-term market correlations and exchange-rate performance aside, bitcoin remains the world’s singular best chance at achieving a globally neutral, monetary protocol for final settlement.”
“One must understand that regimes cannot rule our minds unless we let them in. As Victor Hugo wrote,“No army can stop an idea whose time has come.””
“My plea is to get more attention to what’s happening in Nigeria. I love this Bitcoin community and I hope this opens up more eyes to why countries like Nigeria desperately need another alternative — not because they need another investment asset, but because their future is riding on its success. I hope we can all stand with the people of Nigeria as they push for change and prosperity.”
“…Bitcoin users running full nodes must opt-in to the code changes that Bitcoin Core maintainers approve, adding a layer of checks and balances to the protocol.”
“There is no disputing that Bitcoin is the most secure P2P network ever built. The on-ramps and off-ramps cannot boast the same level of assuredness. Centralized exchanges are widely recognised as a point of weakness.”
Practicing embedding a note #[0]
Today’s Bitcoin acorn will be tomorrow’s Bitcoin oak.
Idea: Corporate relays which only customers can join to receive services.
The key unknown factor here is how long will it take for people to switch away from real estate and the stock markets (as stores of value) to Bitcoin.
Hello Sikto. What’s your take on chartalism? I came across this when reading a book about MMT.
“In macroeconomics, chartalism is a heterodox theory of money that argues that money originated historically with states' attempts to direct economic activity rather than as a spontaneous solution to the problems with barter or as a means with which to tokenize debt,[1] and that fiat currency has value in exchange because of sovereign power to levy taxes on economic activity payable in the currency they issue.”
“Transparency: As the Bitcoin network is open source and transparent, it helps to promote accountability and honesty by those using it, both of which are ethically sound and align well with those truths that are held dear by all of mankind.”
I can see it too in your post. Such a nice touch that it’s in orange!
Great write up Guy! From what I’ve observed, most people either don’t understand the problem (that the game is rigged) or think it can’t be fixed (the elites will always crush any sort of resistance). I hope enough people will see the sweet point where the economic incentives of Bitcoin align with its ability to promote freedom and allocate their time, energy and capital accordingly.