Yeehaw. Huge upgrade.
There is no free market in banking. How fractional reserve banking is held up:
1. Make it policy to inflate the currency. The higher the better.
2. Make bank bailouts federal policy.
That’s it. Sure it helps to make full reserve banks illegal. But if you can print money to bail out fractional banks (which is happening over and over) and guarantee whatever deposits, you make full reserve banks impractical and cement the monopoly via fractional fraud.
I used to think the Fed banned full reserve banks in fear of deposits rushing into them, but it’s actually counter productive. They should allow them to fail, because the fraud won’t allow free banking to compete.
H/T Saif for making me realize this. And Stephan Kinsella: https://www.stephankinsella.com/2016/01/the-great-fractional-reservefreebanking-debate/
Biggest thing to happen for multisig since multisig. Pumped.
The hardest thing to do, whether investing or saving, is nothing.
We’re starting a new event at The Bitcoin Commons: The Nakamoto Debate series. Our first debate will feature Steve Barbour and Jesse Peltan moderated by #[0] . The resolution: Hydrocarbons are the most sustainable source of energy to mine bitcoin. This is going to rule.
https://www.eventbrite.com/e/nakamoto-forum-debate-series-tickets-598633497907
I have it on good authority that all Ripple or Greenpeace need to do is pay #[0] and he can help them #LearnToCode so they can make a way better bitcoin. Are they incapable or just lazy?
We need another round of #LearnToCode
The marxists at Greenpeace need to #LearnToCode
Ethereum is a more embarrassing fraud than the USD.
Twitter has left my home screen. Just insane to go to bed angry 4-5 times a night. Hilarious, but insane.
It feels like Balaji just figured out bitcoin in the last 10-15 days. Better late than never.
The entire ritual of half the educated world hanging on the speech of a guy, then interpreting it for “dovish” and “hawkish” themes is just the funniest. Will be remembered the way we view oracles and omens.
Ran some analytics on zaps on nostr, it's quite terrible...
~95% of users have their lightning address set to a custodial wallet
~91% of all zaps by volume have gone to a custodial wallet
#[0] is the clear winner of 50% of users and 67.5% of volume
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Is there a write up somewhere on how to receive non-custodially? I couldn’t figure it out.
Conference coding? Always dangerous.
You’ll think I’m lying, but for iOS, Outlook is crazy good.
GM. Will be glued to the Nostrica live stream today. Feeling zappy after a killer week at the Bitcoin Commons in Austin.
Shoutout to the folks providing the remote stream for Nostrica. Grateful to be able to tune in and here so many great stories on the origin of Nostr and things to come.