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fluterbus

64ad753bb77817d5b6e94e2d44ee8acf9e5b8867d90c8e03501e5b4e53098a05

What a time to be alive. We are live through the bifurcation of society. On one side we have a dying artificial construct of a legacy monetary system, rapidly turning into a dystopian nightmare in order to perpuate itself; on the other, we have a bright future enabled by the best money ever created: #Bitcoin, which will bring a Second Renaissance in all foundational fields of the society that embraces it: technology, science, health, commerce, culture, morals, belonging, faith, space exploration, are just some examples. The game theory is playing out well for the incumbent, as it attacks, among its many other atributes, one of the strongest forces and human emotions: Greed. This simple fact is already showing important cracks in the legacy systems ranks, which is not to be ignored: The Spot ETF approvals, e.g., which we now know happened against the will of the bureaucratic class (SEC & Co.). You may think its just a strategy to be able to kickoff a EO6102, but here lays the nuclear option that this may be another attack that will backfire right back at them. Once you taste the sweet pumps, that will inevitably come, this does something to you, ESPECIALLY when you belong to the most greedy bastardian class that have inhabited this planet: Wallstreet and The Fiat Banking Cartel

Replying to

Delossa

As per my perspectives, If quantum computers become a threat to Bitcoin, the community might do a "fork" to upgrade to stronger cryptography, making Bitcoin's security even better. They'd make this move based on how quickly quantum tech is advancing, not just after attacks happen. Also, a quantum hacker might test their skills on smaller targets first, keeping their strongest attacks hidden until needed. This plan would help Bitcoin stay safe by improving its security ahead of time. Does it make sense ?

fluterbus 1y ago

ahh I think I heard this before. Then both forks would run simultaneously, so if the qc get to break sha-256 then the market (users+miners) should migrate to the sha-512 chain? and if so, isn't there a weakness to 51% attack period in the new chain bc the hashrate is so low?

Replying to

Delossa

Quantum computers currently can't break Bitcoin's security because they're not advanced enough. Bitcoin uses a special kind of math called "elliptic curve cryptography" to keep things secure, and right now, even the most powerful quantum computers struggle with solving these complex problems. If quantum technology improves, Bitcoin can update its security methods to stay protected.

If quantum computing were advanced enough to break Bitcoin's cryptography, it wouldn't just affect Bitcoin. The same technology would pose a risk to many other systems, including the security measures used by institutions like the US Navy and banks worldwide. These entities rely on similar cryptographic principles to protect sensitive information. The idea that quantum computing could compromise Bitcoin but not impact these other critical systems is unrealistic. The widespread repercussions across global security and finance highlight the improbability of such a scenario occurring without significant notice and preparation.

fluterbus 1y ago

this is a great explanation.

follow up question: what would be the warning signal to have to proceed for a hard fork? I mean, would it be just one seed hacked, several or thousands at once?

From the perspective a statist attack, I assume that they would attack the challenger first, not their own infrastructure

fluterbus 1y ago

hey #bitcoin community a friend is constantly giving me sh*t bc of quantum computers being able to crack a bitcoin seed and I can't explain this technically.

So, I want to create a 100k prize to the best answer to beat this debate. You can get this by zap or directly to your lightning or onchain wallet !

Thanks to all for reading

Replying to

Dream Chaser ⚡️🐆

#Bitcoin is about to close 7 consecutive months in the green for the first time in history!

fluterbus 1y ago

nicely spotted!

Another out of ordinary bullish sign ... they keep on piling up.

Just a few of the most obvious:

-ETF breaking all records

-ATH before Halving

-QT/high interest rates still in place

-ESG Attack R.I.P.

-China mining ban R.I.P.

-Fair FASB rules (coming soon)

-MSTR enters S&P500 (coming soon)

-% on exchanges keep retreating

Replying to

negr0

nostr:npub1v3tgrwwsv7c6xckyhm5dmluc05jxd4yeqhpxew87chn0kua0tjzqc6yvjh

Cerra un poco los ojos

#negr0art

fluterbus 1y ago

no veo ná

Replying to

Tuur Demeestr

Yeah… no thanks

fluterbus 1y ago

lol you guys know bitcoin don't give two f*cks about your opinion

fluterbus 1y ago

npub1vz0jduezztuqkuc5u4uvrqjrkr044fhs70utafet20azgcaywndsfj56eq

https://m.youtube.com/watch?v=7zq2BES6ZA8

damn what a great report ! may be your best until now.

Replying to

Carl B Menger

#Iceland in 2008: Our traditional banking sector collapsed, our currency crashed and unemployment soared.

#Iceland in 2024: #Bitcoin is the problem.

Stockholm’s Syndrome at its finest.

fluterbus 1y ago

sadly the climate cult runs deep in Scandinavian culture. Smart people, but trust their govts. and media too much.

Replying to

Gigi

fluterbus 1y ago

Gigi, your book 21 Lessons was great ! it gave me back push for orange pilling again, but this time in a more laidback way

Replying to

roya ୨୧

fluterbus 1y ago

Fiat Food, by Mathew Lysiak ;)

fluterbus 1y ago

In this chapter of "Fiat Ruins Everything", by Jimmy Song, and connecting this to what Saifedean Ammous always puts attention to: that 'Division of Labour' is the backbone of a capitalist free market economy, which results in prosperity and progress for a civilization.

It suddently "clicked" to me:

in a fiat economy, the incessant need of "re-investing" your capital in order to protect it from constant depreciation severely attacks the Division of Labour, as you have to

1. divest/dilute your attention and split your specialization efforts from your current endeavor/career, or 2. even worse, you have to outsource your financial decisions to a so called advisor/broker/family office with all the risk, fees and unproductive capital allocations that occur bc of this.

By itself, this is a regressive force for society, without even taking into account what continuous cyclical market crashes do to so many once productive actors of the economy and some of them never recovering.

Replying to

fridgemagnet

What has happened to the quality of books these days. Just starting to read the Sovereign Individual and greeted with fiat looking translucent paper. If I like it I’ll look for a better version.

#bookstr #fiat #bitcoin