Bitcoin is backed by:
1. The power required to mine it (hash)
2. The integrity of the network (the nodes)
3. Consensus (the code + people with a stake in the network)
4. Free-market economics (decentralisation)
5. A trustless incorruptible ledger (security)
6. A rules-based self imposed digital economy (incorruptible money)
New NSTR user here. Any thing else I should know? Currently using Damus.
Proof of Work keeps individuals and society connected to reality. Endless printing of an enforced currency de-couples people from being able to protect the fruits of their labour. Much like a spell that befalls man, fiat not only extracts value from those who are productive, but assigns worth to concepts and ideologies that literally have no value or utility. Fiat disconnects individuals and society from reality by distorting obvious truths. nostr:npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe nostr:npub1gdu7w6l6w65qhrdeaf6eyywepwe7v7ezqtugsrxy7hl7ypjsvxksd76nak nostr:npub1excellx58e497gan6fcsdnseujkjm7ym5yp3m4rp0ud4j8ss39js2pn72a nostr:npub1art8cs66ffvnqns5zs5qa9fwlctmusj5lj38j94lv0ulw0j54wjqhpm0w5 nostr:npub146f6r8avft5d3nmkmpdc6aakmxat0dlv773907txkwy82sm4kfzqzs67sz
I like Saylor but nostr:npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe is far more illuminating.
Dodgy fiat type practices (such as rehypothecation, over-leverage, naked shorting) on Bitcoin will be severely punished by the protocol. Over the next 24 months it’s very likely that some big names will fall. Odds based on previous cycles are, that out of Coinbase, BlackRock and MSTR at least one of them will make a fatal error this bull run. Any thoughts … 💭nostr:npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe nostr:npub10vlhsqm4qar0g42p8g3plqyktmktd8hnprew45w638xzezgja95qapsp42 nostr:npub1xtscya34g58tk0z605fvr788k263gsu6cy9x0mhnm87echrgufzsevkk5s nostr:npub1excellx58e497gan6fcsdnseujkjm7ym5yp3m4rp0ud4j8ss39js2pn72a nostr:npub1s5yq6wadwrxde4lhfs56gn64hwzuhnfa6r9mj476r5s4hkunzgzqrs6q7z nostr:npub1gdu7w6l6w65qhrdeaf6eyywepwe7v7ezqtugsrxy7hl7ypjsvxksd76nak nostr:npub18p63njhaxftx3m8luk2h0umj8p3cmfx09kv9hqhext7gr5ea585qsc0k8k nostr:npub14mcddvsjsflnhgw7vxykz0ndfqj0rq04v7cjq5nnc95ftld0pv3shcfrlx
Trading Bitcoin reveals a person’s lack of knowledge about the asset.
Mine has gone from 25 to 5 in 24 months. Why’d I buy a house again?
True, this is why buying a large quantity of bitcoin will be required prior to such government department cuts.
Bitcoin IS the financial lifeboat that will steer you toward an abundant future. This applies equally for individuals and governments.
Game Theory mode = ON
Being able to buy endorsements is peak fiat behaviour.
Wealthy people buy time,
Poor people buy stuff,
Ambitious people buy education,
Lazy people buy distractions.
Bitcoin is the best and most easily accessible option to protect your time.
#proofofwork
The whole problem with the world is that fools and fanatics are always so certain of themselves, and wiser people so full of doubts.
- Bertrand Russell
Inflation is the highest form of immorality - Robert Breedlove #Bitcoin
Right on… Bitcoin is a protocol and a discovery. The gravity of this can be grasped when comparing other such protocols: fire, math, electricity, nuclear fission, the internet. People have no clue how important Bitcoin is as all new protocols [that are also discoveries] are met with suspicion and derision until mainstream adoption is enforced by the protocol’s built-in incentives. You don’t change Bitcoin, it changes you.
👌
Many are the plans in a man’s heart, but the State’s plans will likely screw your plans up. - Friedrich A. Hayek