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DrDaniel⚡️BlueRidgeBitcoin
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Author of 'Orange Pilled' and 'Daily Seed' devotional for Christian Bitcoiners (Amazon). Founder of Blue Ridge Bitcoin. On nostr since block 770407.

When you spin up a new node, you are not merely downloading the blockchain. Your node is re-living the entire history of bitcoin, validating every transaction, block, and fork.

Since no one on Twitter will answer the question, I'll #asknostr

Please correct me if I'm wrong, but the Difficulty Adjustment is a unit-less multiplication factor, it is *not* hashes per block. Right?

BITCOINS!

The plural is bitcoins!

That is the plural Hal and Satoshi used.

Michael Saylor is smarter than me, but at the end of the day, it's clear that he is using bitcoin to earn (or preserve) dollars.

I've said it before, I'll say it again: If you are using bitcoin to make dollars, you do not truly understand the value proposition of bitcoin.

Replying to Avatar StackSats.IO

Finally, an interesting Bitcoin podcast!

It’s been a while since I’ve seen people argue in Bitcoin but nostr:npub1gdu7w6l6w65qhrdeaf6eyywepwe7v7ezqtugsrxy7hl7ypjsvxksd76nak managed to pull Saylor into an interesting conversation about credit and lending in Bitcoin.

Saylor apparently hasn’t fully thought through the implications of 21M and remains wedded to his fiat ideas.

He expects there to be yield on Bitcoin in future, but never says where it will come from in a completely fixed supply money.. “They’ll have to sell their assets to finance themselves!” - yeah no shit Michael!

The only way to generate yield in Bitcoin terms is to mismatch duration - literally run a Ponzi scheme. But Saylor expects that because the US Government will back the banks that this can’t go wrong 🤣🤣

Saif takes nostr:npub1sfhflz2msx45rfzjyf5tyj0x35pv4qtq3hh4v2jf8nhrtl79cavsl2ymqt line that capital will flow but HODLers will take equity rather than yield. This is the correct logical conclusion.

I’m not saying Saylor is completely wrong - I do see a future where banks will get into this space and lend and pay yield on Bitcoin.

But they WILL blow up. I don’t give a fuck if they’ve got their own nuclear arsenal let alone the full faith and credit of the US Government behind them, they WILL get out over their skis and they WILL be unable to fulfill their obligations at some point because they WILL greedily try to rehypothecate it in the meantime and no Government will be able to save them.

Saif and Allen both know the economy doesn’t require interest to function, that the world won’t grind to a halt without it - people will still spend money. Saylor just isn’t ready to let go of his statism (as evidenced earlier in the conversation) because he’s become accustomed to Billionaire privileges.

This is why I love #Bitcoin. You can be the CEO of the most successful public company of the past 4 years, all thanks to Bitcoin, and you will still be totally humbled by it unless you fully embrace the system as it is because it won’t be changing for your fiat games!

https://youtu.be/k7XhzXMSAPo

This is the take I've waited for. Thank you.

Most people on Twitter seem to think Saylor schooled Saif, but i think Saif has thought this through further than Saylor.

When the lightbulb was invented, it took decades to light everyone's homes.

When the plane was invented, it took decades before average people flew the skies.

We are so early to bitcoin. It will likely be decades before global adoption and we may not see it. HODL for family.

My cash app limits are much higher. My wife's cash app limits are different from mine. I think a number of factors determine one's limits.

My primal has been dead for a week. It was my favorite access to nostr, but i guess it's time to delete it from my phone. 😕

So you're saying I have a chance!

I apologize for anything i said that was partially snarky this week. I'm recovering from covid.

I have a bitaxe and want to join ocean, but I have been so burned by lightning nodes I will never run one again.

You guys are right. Bitcoin Twitter is low signal.

But I’m staying to support the only free speech platform available, until it’s not.