It's a 1970's mopar (Dodge) with a Chrysler LA 360 V8... I'd be more specific but I don't want to dox myself
Work to do... gotta rebuild a steering gearbox (mainly seals and new oil) and set the backlash under .005"
The only defense I could see is a robust Bitcoin ETF market, with each ETF offering competing over the traits of transparency, blockchain verify-ability, and ease of redemption. If only the Blackrock ETF gets approved I think shenanigans are about to go down
Say they acquire both Grey Scales Trust of GBTC and the goverments silk road stack OTC (off market) they would easily have 2% without moving the market price.
Then say they hammer sell BTC original after the fork... think stock to flow... ~2.2 million coins currently on market, the new flow to stock is 20%
They would have to aggressively aquire their bitcoin BR, sure, but they will pull every dirty trick in the book limiting sells.
The SEC is 100% captured and on board with Blackrock
?cid=586b07f0xttjw9n0b4srupbduu3xorzdc105gyzgy54yts7f&ep=v1_gifs_search&rid=200w.gif&ct=g I’m light as a feather, yet the strongest man can’t hold me for much more than a minute. What am I?Of course, they would continue with bitcoin classic. What I am envisioning is a Sybil attack + an infinite money attack at the same time... someone who knows more about sybil attacks please chime in
Attention Nostr! Fight me!!!
OK, here is my logic, shoot as many holes in it as possible. Scenario: Blackrock (BR) acquires 2% of btc supply (420,000) in it's ETF, hypes the shit out of it in a very niche direction ( maybe as a settlement mechanism between central banks). Then it sock puppets a few devs to write additional code to help it achieve this niche use case at the detriment to let's say fungibility. They fork the network. They spin up 10x the reachable nodes that bitcoin currently has and all run bitcoin BR version. They dump their bitcoin classic on the market and use their infinite pool of money to wash trade bitcoin BR to the moon... all the while forcing any Blackrock bitcoin ETF holder to come along for the ride. I believe if this new version achieves a significantly higher price it will lure in dumb money, and a media blitz will help this. TLDR: the weakness lies in the desire of the investors/users in NGU technology and not in all the other aspects of BTC and Blackrock will outperform in NGU
Miners are a great point, but miners have zero ideological ties and will mine what makes them the most money... you could see a jump to a new chain with a lower difficulty and a higher token price
OK, here is my logic, shoot as many holes in it as possible. Scenario: Blackrock (BR) acquires 2% of btc supply (420,000) in it's ETF, hypes the shit out of it in a very niche direction ( maybe as a settlement mechanism between central banks). Then it sock puppets a few devs to write additional code to help it achieve this niche use case at the detriment to let's say fungibility. They fork the network. They spin up 10x the reachable nodes that bitcoin currently has and all run bitcoin BR version. They dump their bitcoin classic on the market and use their infinite pool of money to wash trade bitcoin BR to the moon... all the while forcing any Blackrock bitcoin ETF holder to come along for the ride. I believe if this new version achieves a significantly higher price it will lure in dumb money, and a media blitz will help this. TLDR: the weakness lies in the desire of the investors/users in NGU technology and not in all the other aspects of BTC and Blackrock will outperform in NGU
Sounds like time you should devote to the Messi shrine I know you have been building
You could spin up a million Sybil nodes running a tweaked bitcoin code, if noone is willing to buy the token floating on top your blockchain you have lost
How was the last fork decided? I would argue it was the free market deciding the value in USD and not the nodes
I made a Key lime the other day... yum. But usually it's a fruit pie, sometimes with fruit I have grown; those are easily the best.
"The Inflation 4 Bitcoin Experiment" - June 2023:
Some time ago I had a note with nostr:npub1l2vyh47mk2p0qlsku7hg0vn29faehy9hy34ygaclpn66ukqp3afqutajft about how to survive an inflationary environment. I see a lot of interest in it as well as nostr:npub14mcddvsjsflnhgw7vxykz0ndfqj0rq04v7cjq5nnc95ftld0pv3shcfrlx visit to our country recently. It is not that we live badly in Argentina, but reality always forces us to be doing math and numbers. I will leave the reference note in the comments section.
In that note I talked about how fiat schemes always have weaknesses. That is why it is important to exploit them on a daily basis. Just as inflation wears you down daily.
In the case of Argentina, a potential weakness is this: the banking system is obliged to maintain an interest rate slightly above inflation so the purchasing power is not destroyed as well as their own bank earnings. Secondarily, many short credit options allow that inflation to be absorbed by another entity.
Therefore you can, for example, at the beginning of the month, think about how many expenses you will have, and create a fixed bank term for a period of 30 days for those expenses. We will use a credit card to make purchases for the whole month and we can pay them next month with the money of the bank fixed term and even get interest to get some sats the next month.
So, here's my June Numbers:
- How much will I have in fixed expenses?: Approximately 175,000 Argentine Pesos (in fact I spend a little less).
- How much is the bank interest rate?: 97% Annual. 8.08% Monthly. 161,29% compound annual interest.
- Perfect. So we created a fixed bank term for 175,000 pesos for 30 days (approximately 354 Usd (1 USD = 494 Argentine Pesos) and 1320551 sats to that date).
What were my fixed expenses in June which I comfortably paid with my credit cards (in Argentine Pesos, I think some will be surprised at how cheap the services are here):
* Water Deparment: 2812,5
* Chacarita Juniors Membership (Football Team): 2500
* Cellphone: 5479,61
* Gas Department: 392,41 (Yes, less than a Usd in Gas Department, Welcome to Argentina. I Have 2 Gas Stoves in my Home).
* Electricity: 3211,53
* Apartment Rent: 68112,47
* Lighting and public cleaning: 2673,24
* College of Physicians: 21857
* Gas: 38390,49
* Total: 145429,25
- Now, what was inflation in June: 6%.
Next month I will have to pay those expenses to my credit card. But I will also receive the money and interest from my bank account at the beginning of the month. So here are some conclusions:
* June Inflation absorbed by my credit cards: 6%
* Interest Earned for my 30-day bank fixed term: 8.08%
* Fiat earnings after absorbed inflation: 2.08%
In numbers:
* Expenses: 145429,25
* Post interest profits: 189582,75
* Balance: +44153,5 (What can buy about 274844 sats in nostr:npub1p2psats79rypr8lpnl9t5qdekfp700x660qsgw284xvq4s09lqrqqk3m82 or nostr:npub1yul83qxn35u607er3m7039t6rddj06qezfagfqlfw4qk5z5slrfqu8ncdu).
-- The next month, we start again the cicle --
This has only covered fixed costs, but surely there are people smarter than me who will be able to apply it better to other schemes. Everyone here in Argentina can access a bank account with an ID. Even without having a credit card we could make the first payment of the month with savings money and start applying the scheme from the second month with the benefits obtained. Although mostly many banks and fintechs will never deny a credit card even with small values.
As a small fact, there are even more radical benefits in our country to absorb inflation in the basic day:
* Supermarkets offer 20% discount some days with some means of payment.
* Butchers offer 35% discount on weekends with some means of payment.
* There are still offers with 3 to 6 months of installments without interest in credit card purchases (this still amazes me).
As a final thoughts to quote Max Kaiser we live in a system of financial fraud. If there is inflation, someone is profiting from it. Look for the weaknesses of your fiat system, apply it against it, close the cycle by buying sats.
Another day I will explain how there are companies that benefit from inflation, is not only a government phenomenon. I dedicate this post to any people who can be helped with this tips, and any comments I will happily answer.
I thank the people who every day in #Nostr change the way I communicate:
nostr:npub18ams6ewn5aj2n3wt2qawzglx9mr4nzksxhvrdc4gzrecw7n5tvjqctp424
nostr:npub1yn3hc8jmpj963h0zw49ullrrkkefn7qxf78mj29u7v2mn3yktuasx3mzt0
nostr:npub1rxysxnjkhrmqd3ey73dp9n5y5yvyzcs64acc9g0k2epcpwwyya4spvhnp8
nostr:npub180cvv07tjdrrgpa0j7j7tmnyl2yr6yr7l8j4s3evf6u64th6gkwsyjh6w6
nostr:npub1l2vyh47mk2p0qlsku7hg0vn29faehy9hy34ygaclpn66ukqp3afqutajft
nostr:npub1gcxzte5zlkncx26j68ez60fzkvtkm9e0vrwdcvsjakxf9mu9qewqlfnj5z
nostr:npub16c0nh3dnadzqpm76uctf5hqhe2lny344zsmpm6feee9p5rdxaa9q586nvr
nostr:npub18kzz4lkdtc5n729kvfunxuz287uvu9f64ywhjz43ra482t2y5sks0mx5sz
nostr:npub1dergggklka99wwrs92yz8wdjs952h2ux2ha2ed598ngwu9w7a6fsh9xzpc
nostr:npub1kwcatqynqmry9d78a8cpe7d882wu3vmrgcmhvdsayhwqjf7mp25qpqf3xx
nostr:npub1ezw0xm0w52rd4yfdg9zlw9qvwdy46alzelklkefptrd203m37tuq4djmeg and nostr:npub1ewe0qgak4gykym236t6w4x06jyuw4q8v040lmn5lamude434yqcsz7uqlw
nostr:npub1y67n93njx27lzmg9ua37ce7csvq4awvl6ynfqffzfssvdn7mq9vqlhq62h
nostr:npub1cj8znuztfqkvq89pl8hceph0svvvqk0qay6nydgk9uyq7fhpfsgsqwrz4u and nostr:npub1htvcvuuq7met3agd8luxn2hhthyes7tjqjnuskjt7muth87qwpuq08qt0m
nostr:npub1yrffsyxk5hujkpz6mcpwhwkujqmdwswvdp4sqs2ug26zxmly45hsfpn8p0
- and you (see you in space Cowboy) 🌌
Think of the time, energy, and ingenuity that could have been directed to useful work, that is now directed to trying not to drown in inflation
I am staunchly anti cake... pie till I die!!!