Would add -
Credible results from:
- Recent Mining rejection in Norway (increasing energy costs to residents)
- Continued El Salvador Economic independence
- Surinam elections (upcoiming)
- Bhutan Impact
( My note https://primal.net/e/note1hkv0z0wan9kt3mdvkfryehq5cd2qhudx4r4qfn9v0s904r74kkjqhqw8gj )
- All the evidence is positive (even ETH collapse is good news)
Also significant is the impact on Debt to GDP of mining in Bhutan's case - see note https://primal.net/e/note1hkv0z0wan9kt3mdvkfryehq5cd2qhudx4r4qfn9v0s904r74kkjqhqw8gj
Bhutan
Game Theory in practice
population: 782,455 (per World Bank)
GDP per capita: 3,560.20 USD (per World Bank)
i.e. approx 0.059 BTC per capita
Bitcoin accumulated : 13,011 Bitcoins (cointelegr:aph)
i.e. 0.017 BTC per capita (a princely sum)
Conclusion:
Mining by Bhutan has provided assets amounting to
28% of GDP
If the US had matched Bhutan their Debt would be reduced by more than more than $7 Trillion !
Countries will get it at the price they deserve
(Maybe worth stacking some sats before it catches on)
A chart showing the trace of your foot when you have trodden in something unspeakable.
Eventually even the stickiest turds shake completely loose and fall to the ground.
My suggestion would be dump your ETH ASAP and show a clean pair of heels.
Until then people around you will continue to look at you the way they do.
Sorry - I don't make the rules - Not Sorry
Often wondered if Pick'n'Pay who accept in SA could also do so
in Zimbabwe.
Now there's a country that should be ripe for circular economies
anita@getalby.com ?
so , smart, persecuted, political, radical thinker =
no doubt
When will Forbes stop posting utter bollocks?
It's not that I care - i am simply astounded
The word "rival" a little overblown don't ya think...
#Fiat
Recently wrote a note explainng the opposite position ie the Gini reducing effect of BTC) - would welcome feedback
nostr:npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l nostr:npub1g8k79f3j4x0vp9egtmn78mz7456jrqdl4mv3648htdg3l3tp9t5quh9ltm
https://primal.net/e/note1xynlaam08cmn0x8cca5glt5ymhvxv8arng8v4xm33vwg9rhwpm0s7dkxnh
Regarding #BTC distribution vs wealth concentration.
Early hodlers will have an advantage - but it is by design transient.
BTC balances will tend towardstracking the difference between value consumption and creation for any person or entity.
Insofar as those needing to consume are prepared and able to create value they will be able to maintain their BTC balance.
Insofar as those choosing to (or forced to) consume more than the value they create their BTC balance will diminish.
However a diminishing BTC balance may also hold purchasing power (because deflation h/t nostr:npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe ).
The very idea that may be a problem with uneven distribution during the next 120 years is thus moot. Why? ...
BTC ownership is designed to decentralise over time and always will.
This remains true so long as essentials and preferences require any effort of any sort to be acquired (while there is any scarcity of resources). So scarce money drives towards abundance (for all)
In short scarce resources (of any sorts that are commonly needed) assure wealth redistribution and decentralisation.
Temporary exceptions include monopolies and state controls - however since both must be defended to sustain power - they too are eventually decapitated.
But why is concern over the initial imbalance moot - because it is a vast improvement over #fiat being directionally opposite !
"Tough on Speech" >> "Tough on Crime" ?
"UK police and crime minister’s purse stolen at police conference.
Diana Johnson’s belongings stolen from hotel where she gave speech to members of Police Superintendents’ Association"
It seems the descent into clown world is becoming more obvious day-by-day. Had she held her wealth in BTC she might have left the conference none-the-poorer as well as none-the-wiser. 🤣
Source: https://www.ft.com/content/21fd0bb9-d561-4125-ac9b-784a77c372f1
"When I was a child, I spoke as a child, I understood as a child, I thought as a child; but when I became a man, I put away childish things." 1 Corinthians 13:11
Moving from #Ethereum to #Bitcoin is as inevitable as time and is akin to growing up.
As this occurs fewer suffer from scams and #fiat demise accelerates.
To confess my sins - several years back I owned some ethereum.
In my greed I had not put in the Work to understand
But Bitcoin Maxis - helped me so thank you all !
It seems the new Draghi report on EU development suffers from three major delusions:
1. That issuing debt to fund public spending is a path to wealth creation and equality. The Cantillon Effect on is already on steroids with high Gini (inequality) scores & uneven distribution of beneficiaries.
nostr:npub1esgj6hcsay7azg5zglt603kuhtcs3f2k4hszrvx2u70t6pqx6lyqtsxhep comments "But there seems to be increasing agreement on the need to reform the EU's €1.2 trillion budget, diverting funds away from Europe's poorer regions toward industrial, digitalization and innovation policies. This would align Draghi with the plans the Commission is already putting forward and is looked upon favorably in Berlin."
2. That pumping money into technology like AI rather than allowing free-market entrepreneurial allocation of capital will achieve anything other than securing further the destructions of SME's and rural communities. Mis-allocation by the state creates not only tax & debt burdens, it rewards those with access to governmnets to the detriment of others, and increases inflation
3. The idea that faster pharma approval processes can allow the EU to play catch up with the US is utterly farcical. Who wants to be subject to yet bigger pharma, who wants to accelerate introduction of experimental and unproven 'solutions' and do we not believe that improving dietary nourishment and reducing state sponsorship of sugar, tabacco and additives industries might actually do more good?
Wifi only (or even switch off) - If you have limited data rates
a) be careful
b) move to a better country
I can imagine nostr apps enabling some throttling when not on wifi - but not aware of it yet
#Fiat collapse in 5 months since launch
The ZiG Zimbabwean currency nominally backed by #GOLD has collapsed within 5 months of launch
According to Zim EYE
"The admission was made by Acting President Constantino Chiwenga, acknowledging that he may phase out the Zimbabwe Gold (ZiG) currency and introduce a new monetary system when he takes over power." (Source : Zim EYE 5th Septenber)
https://www.zimeye.net/2024/09/05/zig-finally-collapses/
This is unquestionably a further tragedy for impoverished Zimbabwe.
They need a hard, inviolable currency - Any suggestions ?
nostr:npub13lkyycj8s3da6fhndtj0wd6s3s2ahmq86s7wrruvzd4tnc66cgfqn4lpsy nostr:npub1wl39ydk5rpecvtrzhq67afl9ykn2ty2xdxdkfmyan0rss3f3ma5sndznlx
# 1. "Pay your taxes."
# 2. Bonus Rule (Anti -Rule-#1- Breaker-Bonus-)
"Identify and 'contribution' data will be shared internationally between governments"
# 3. In case #1 & #2 somehow fail
"Do not print money - we will do that for you"
More on Artisanal Mining (in general) h/t Hugh Brown
https://qz.com/africa/1340791/artisanal-mining-in-africa-photos-of-mining-pits-by-hugh-brown
GM - It's a day of rest (in this part of the world) - I hope yours will be restful too.
Please, take TIME to thank God that you HAVE THE FREEDOM & wherewithal to read this.
And please take another moment, to think of those who DO NOT...
Example (why we bitcoin)
A friend of mine lives largely off-grid & stores his wealth in cattle in Zimbabwe. Many do because it is a relatively secure SoV except in times of drought (ie now).
This week he lost all 5 head of cattle he owns to poisoning (possibly spillage from artisanal mining that uses cyanide and thus pollutes water sources).
- Such miners, if culpable, are also desperate.
This is his entire pension built over some 50 years and was his income source provision for his children's education.
So, I am not asking for your charity - but for your prayers for the less fortunate in general. ( I trust, knowing his circumstance, that he will find support from the Christian family he is part of and loves )
In a better world, in a bitcoin world, the risk of such tragedies would be less necessary to preserve value. Those who could afford risk might gain, but those in desperate need would not need to.
- one of the cows in question
- a generic photo representing the wretched tragedy of artisanal mining
#Fiat indebtedness between countries is THE principal cause of such misery
Let us see an end to it.
Wonderful that the ideas of God are open source, refreshing and intended for wide distribution.
Infinite food for thought.