The only way #Bitcoin doesn’t go up forever in dollar terms is if the govt permanently balances the budget, shuts down the Federal Reserve, and permanently ends the legalized fraud of fractional reserve banking.

But if that happens, #Bitcoin will have won at its most important and difficult task — balancing the economic networks of the world.

Morning Coffee Bitcoin Report ☕️

Price: $96,340 (1,038 sats/dollar)

Hash Price: $60.99/PHash

Hash Rate: 743 EHash/s

Immediate Fee Rate: 48 sat/vByte

Hour Fee Rate: 8 sat/vByte

Block Interval: 9:51

Mempool Count: 110,398

Block Height: 872,925

Supply Issued: 94.23%

Blocks to Halving: 177,075

Morning Coffee Bitcoin Report ☕️

Price: $97,370 (1,027 sats/dollar)

Hash Price: $60.6/PHash

Hash Rate: 747 EHash/s

Immediate Fee Rate: 9 sat/vByte

Hour Fee Rate: 5 sat/vByte

Block Interval: 9:48

Mempool Count: 131,274

Block Height: 872,786

Supply Issued: 94.23%

Blocks to Halving: 177,214

Gm

Fucking played

More generally, I agree with James' observation that Bitcoin Core devs are paying much less attention to soft forks than they used to.

I can only speak for myself here. Part of the problem is that the current proposals don't excite me, yet. That's even after spending time at the op_next conference.

SegWit (which happened before I was involved) brought the promise of Lightning. Taproot lets you build cold storage with hidden fallback options.

I'm still waiting for MuSig2 to finally have broad adoption, something that's higher on my review list than new soft forks, and I barely get to it.

In that light, talk of a vault soft fork seems premature. The tool development is too far behind even for forks that already activated.

Similarly congestion control doesn't excite me. I'm general I'm skeptical of claims that the masses are suddenly going to self-custody because of a dramatic event in US politics. Especially given that plenty of other countries are in worse shape and we don't see self custody blossom at a scale where it causes congestion. The US is 5% of the world population.

That's not to say that I'm against these ideas. If I see other people work on and activate them in a competent and careful manner I might be fine with it. It's sad that their main proponents and developers burned out, and that certainly won't speed things up. Maybe grants tailored for potential soft fork devs can help here, as long as the right expectations are set.

But not being opposed does not reach the bar of me actively reviewing it, which is part of what pushes things forward.

If I see a more fleshed out design for a (BitVM powered?) sidechain with unilateral (no 1 of N nonsense) exit that gives me full privacy (Shielded CSV?), that would get me more excited. Especially if it's clear which specific opcodes are best to get there.

Other devs will have other things and other thresholds that get them out of their soft-fork winter sleep. There's a "I know it when I see it" aspect to this too.

All that said, it might be the case that one day every single core dev is excited about a soft fork proposal, or would be if they read enough about it, yet is too distracted by their day to day focus. But I'm not sure if that is really what's happening. nostr:note1579fauj8nwl38mvzle5fkupswjw6fkzqv4syupav8ckshujy24tsks9y3h

Suppose you see someone, perhaps your co-worker or friend, or someone switched from Windows to Linux and struggling with the command line. What would you do?

Asking the real questions

Prediction for the next year in #Bitcoin:

• We will have a healthy pullback from this short run

• People w/ BDS will tweet "See! It CrAsHeS!"

• It'll calm down, start a slow climb, & then rocket up again

• BDS-ers will scream "BuBbLE!!" for the 173rd time

• It'll have a healthy pullback

• Rinse and repeat as #Bitcoin climbs into the multiple hundreds of thousands

• BDS-ers will get increasingly insane and frantic, "IT DOES NOTHING!" "NO UTILITY!" "THIS IS SO DANGEROUS TO OUR ECONOMY!" "SOMEBODY DO SOMETHING!"

• There will finally be another very needed and prolonged correction down to a level about twice the previous ATH

• As we find a stable price in the low to mid $100K, the BDS-ers will claim victory and constantly say "I told you so."

• Bitcoiners will keep building, keep stacking sats, keep using it as their money, and keep watching things get cheaper as priced in #Bitcoin

... and in another couple of years we will do this all over again... AGAIN... just adding another zero to the price.

(save this note)

Chef Satoshi

Good morning and pura vida, Nostr! It's time to create notes and send zaps! 🫂🤙🏻💜

Today is a VERY important day. Today is the anniversary of the Android Open Source Project. The very first public beta of Android was released on November 5, 2007. Happy birthday, Android! 🤖

Bitcoin hit $100,000 Canadian Moose Shekels this morning. Timbits rained from the sky and Justin Trudeau cried rivers of maple syrup 🇨🇦