one of the all time classics
let's hope more people wise up this cycle
nostr:npub16jdfqgazrkapk0yrqm9rdxlnys7ck39c7zmdzxtxqlmmpxg04r0sd733sv is great - general memes, and security/privacy/FOSS
I have to admit:
Had a dose of FOMO looking at that picture.
Great to see brothers together.
nostr:note1g2e2czuhauh8u3p30q2ll8jwcmajvmf4ufksy74u9mekl5v2p0jqs9qhtj
Liquid is a definite yes, because it solves problems that most Fedimints don't, yet.
Fedimints and eCash mints are very important for bitcoin's scalability and privacy, etc. But a lot of trust is involved for eCash, with a single entity being able to rug pull you. Fedimints spread the trust across multiple entities that need to collude to rug pull you.
But the issue is that currently Fedimints are difficult to persuade people to trust and use. For instance, if a local bitcoin meetup group sets up a Fedimint, how does a newcomer to the group know that the signers of the mint are not all friends that are colluding with each other?
Liquid solves this problem by federating the signing trust across well-trusted companies (see attached image). The likelihood of 11 of these companies colluding is extremely small. They all have reputations built with much work, that they do not want to lose. And a company is less likely than an individual to commit fraud on this scale, as they have to avoid internal whistle-blowing, and are more easily held to account by the justice system.
nostr:note1zjrg8r0uxp3kaat9u3d97g8euq6qlsmr05msx8yp88zx400885nqw7ggz5
Shining a light on the force for good that is bitcoin.
Thank you nostr:npub1trr5r2nrpsk6xkjk5a7p6pfcryyt6yzsflwjmz6r7uj7lfkjxxtq78hdpu for everything you do.
"The sustained creation of knowledge depends also on the presence of certain kinds of idea, particularly optimism, and an associated tradition of criticism."
David Deutsch, from 'The Beginning of Infinity'
nostr:note185kmhdrqt5wvyjcdqczuc6f3uyf6hdqdmsuyycu0z9rd7e96wemqqawdvr
The "what if there's no internet?" question gets asked so many times by people that don't understand bitcoin.
But they never ask what will happen to their own fiat world, when one little software update brings down half the system.
h/t LinaSeiche
What is not to like?
Stupid old me thought that UK inflation was due to the vast amounts of money created out of thin air by the government.
What a great relief to hear that it was all just down to Taylor Swift, so all our worries should be over now her tour is finished.
"When the state and its governing bodies must routinely come to the citizenry to raise taxes, they will be cautious in what they request lest they be voted out of office. Many of the issues with the state stem from an overactive government using an inflation tax to do more than is necessary. For example, there is no way that the current global level of military spending, which invariably leads to conflict, would be sustained if the government used direct taxes to pay for it. What do you want: free healthcare or more AK-47s? Free university education or a fleet of F-16s? Affordable public transport or another nuclear missile-armed submarine? If the taxpayer decided, different types of public goods would be produced, leading to a better quality of life for many people."
Arthur Hayes, in his 'Hot Chick' newsletter.
THE DIFFERENCE BETWEEN MONEY AND WEALTH
(https://x.com/Devon_Eriksen_/status/1811272099647967330):
Middle-class leftists don't really understand the difference between wealth and money.
That's because what they have is a job as a retarded commie journalist, which pays them money, which they put in the bank before spending it on Funko Pops, cannabis, dildos, and tofu.
They think wealth is "more money". And when they think about "more money", they think about all the Funko Pops they want but can't afford, and about how Elon Musk can afford more Funko Pops than he could ever use, that is if Funko Pops could be used for anything, which they can't, unless you count leftists' strange propensity for putting unexpected things in places they do not belong.
They don't understand that Elon Musk doesn't have some sort of special titanium credit bank card connected to a bank account with 260,000,000,000 munnies in it, for the buying of Funko Pops.
What he has is some businesses he started, and a bunch of dudes whose job it is to guess the value of things have arrived at the consensus that they are worth that much. That guess changes by the hour.
Leftists can't really wrap their heads around this idea, not in the intuitive sense that would allow them to engage with it as a concept. They can't imagine what it would be like to be in that position.
Why not?
Because if they could, they wouldn't be leftists. In fact, many people can, and therefore are not leftists, so leftists are really just the group of people who are self-selected for not being able to figure this out.
This is why they can, without blushing, describe "reusable space launch capability" as "unnecessary wealth".
They don't understand that if you took every share of SpaceX away from Elon Musk, and all the other shareholders, it would still be valued at 200 billion dollars (or whatever it is on the day you are reading this), but it would not magically transform into 200 billion one-dollar bills that you could give to left-wing journalists to buy more Funko Pops with. It would still be a bunch of factories, and designs, and offices, and employment contracts, and rocket engines, and stuff.
The reality is that the earn-spend-consume model of money that retarded leftist commie journos are familiar with has an upper limit. Once you've spent on much on yourself as you want, a ceiling which varies depending on your character, you need a new source of meaning and purpose in life.
You need to develop different ambitions.
Then your spending becomes not about what you want to have, but what you want to create. You build the things you want to see in the world.
This is where money becomes wealth. Money is used to buy things. Wealth is used to build things.
When you create something that a lot of people care about, it's valued at a huge amount of money, because money is a measure of fucks given.
So maybe, when you have enough money to buy a mansion and a yacht, you decide that what you really want is "reusable space launch capability", because you're a nerd who reads science fiction, and so you think it's a kind of dumb idea for humanity to spend all its time on one tiny dust speck in an infinite universe.
So you buy some computers and you hire some dudes who are good at designing things on computers, and then you buy some metal, and hire some dudes who are good at cutting metal and sticking it together, and pretty soon you're the proud owner of whole bunch of stuff.... computers and factories and tanks full of liquid oxygen and launch pads and most importantly, rocket boosters.
And no Funko Pops. Not a single one.
Now, it's worth more money than you started with, because the people who guess the value of things (it's called a "stock market") are starting to agree that this was maybe a pretty good idea.
So, on paper, you're richer than you ever were. But that's your not bank account, or your Funko Pop collection. That's the fact that you now control humanity's effort to leave the gravity well. And you control it because you built it in the first place.
Wealth inequality is a measure of technological progress.
It doesn't exist in low-tech societies where everyone is chasing antelope with a throwing stick and a stone-tipped spear. Because no one invents anything and there's nothing to own.
And it peaks in high-tech societies where enterprising people create entire economies ex nihilo by investing in a wild idea. Because things are being invented and people give a fuck about them, and so the innovators have a much higher net worth than the people who sit around eating processed snack foods and shopping for Funko Pops on the internet.
Reducing wealth inequality is a disaster, and typically requires one. If you reduce wealth inequality in a free market, you are either outright destroying growth enterprises, or transferring control of them to non-producers.
Which is what leftists really are. Useless journo flacks and cloistered academics who want to tear down the engines of tech innovation so they can buy more middle class consumer goods, until they tear down the engines that produce those, too.
The most important task in all of economics is keeping people who don't get shit done out of the way of people who do.
Leave humanity's orbital launch capability alone, Zaid.
It is already in the hands of the people who are best qualified to operate it. We know that because they are ones who built it in the first place.
The possibilities that lie in the future are infinite. When I say "It is our duty to remain optimists", this includes not only the openness of the future but also that which all of us contribute to it by everything we do: we are all responsible for what the future holds in store. Thus is it our duty, not to prophesy evil but, rather, to fight for a better world.
Karl Popper, The Myth of the Framework, 1994
I give the equation in below the chart on the webpage.
There are two fixed coefficients and the only input is "days since Genesis Block", i.e. time.
So nothing to do with addresses and hash rate. You are thinking of other models (which can also obey Power Law) such as those espoused by PlanB.
Join early or join late.
Everyone is free to choose.
This is why Bitcoin is not like the other crypto-currencies.
Someone actually did the science:
https://www.bitcoinpowerconsumption.info/
Turns out that four years after The End Of The World (according to the mainstream media's 'Science' section), bitcoin uses 0.065% of global electricity, and produces 0.024% of emissions.
