Tokyo is really challenging my coffee taste.

#coffeechain

War on cash

Bitcoin is for everyone. I don’t make the rules.

Ordinals on #bitcoin: stupid, useful, revolutionary?

Zaps: stupid, useful, revolutionary?

GM

#PV 🌞☕💜

It's ₿804,726 o'block.

🏴‍☠️⚡💎🙌💊🧡🚀

🔶🔶🔶 Market-Data 🔶🔶🔶

#BITCOIN price is at $26,097.45

Sats/$: 3,832

24h Price-Change: -1.32%

#BTC is -61.4% down from #ATH

#BTC has 159.09% left to reach #ATH

Market-Cap: $508,568,078,159

Market-Domination: 46.44%

24h Market-Cap-Change: -1.0%

24h Total-Trading-Vol.: $7,357,465,232

🪙🪙🪙 BTC-Supply-Data 🪙🪙🪙

Circulating Supply: 19,467,025

Coins left to mine: 1,532,975

Total-Supply-Progress: 92.700%

Halving-Date: ~2024-04-21 20:10

Days until next #BTC-Halving: ~240

Blocks until next #BTC-Halving: 35,274

🕸️🕸️🕸️️ BTC-Network-Data 🕸️🕸️🕸️️

No. of Full-Nodes: ~6,646

Chain-Size: 471.4 GB

Overall Transactions: 884,133,768

Transactions 24h: 410,370

Avg. 24h TX Fee: ⚡4,249 | $1.11

Median 24h TX Fee: ⚡1,453 | $0.38

No. of Addresses: 0

⛏️⛏️⛏️ BTC-Mining-Data ⛏️⛏️⛏️

Avg. Blocktime: 9.83 min.

1-Day Net-Hashrate in EH/s: 389.117

7-Day Net-Hashrate in EH/s: 392.61

30-Day Net-Hashrate in EH/s: 387.974

90-Day Net-Hashrate in EH/s: 378.863

365-Day Net-Hashrate in EH/s: 310.436

Net-Difficulty: 55,621,444,139,429

Dif. Progress: 17.0%

Dif. Change: 1.85

Next Dif. Adjustment: 2023-09-05 14:08

Blocks until next Dif. Adjustment: 1674

Mining-Sustainability: 53.75%

Mining-Reward per Block in BTC: 6.25

⚡⚡⚡ Lightning-Stats ⚡⚡⚡

1-month tendency

#Nodes: 15,265

#Channels: 66,464

Tor-Nodes: 10,687

Clearnet-Nodes: 2,116

Total Capacity in BTC: 4,715.97

Avg. Capacity in Sats: 7,095,531

Avg. Base Fee in mSats: 850

🔥💸🔥CPI DATA🔥💸🔥

as of JULY 2023 YoY | MoM

G7:

🇺🇸United States: 3.2% | 0.2%

🇩🇪Germany: 6.2% | 0.3%

🇮🇹Italy: 5.9% | 0.0%

🇫🇷France: 4.3% | 0.1%

🇬🇧Great Britain: 6.4% | -0.3%

🇯🇵Japan: 3.3% | 0.5%

🇨🇦Canada: 3.3% | 0.6%

BRICS:

🇨🇳China: -0.3% | 0.2%

🇮🇳India: 5.6% | 1.3%

🇷🇺Russia: 16.7% | 7.6%

🇧🇷Brazil: 4.0% | 0.1%

🇿🇦South Africa: 4.8% | 0.8%

☝️this is why we #hodl & #stacksats ☝️

#Bitcoin #soundMoney #zap #twentyOneMillion #blockForBlock #stackingSats #zappingSats #nyknyc #dyor #unbankTheBanked #bankrun #runBitcoin #financialFreedom #nostr #plebchain

Your favorite metric is missing?

⚡ Give me a request ⚡

!!!no financial advice!!!

I spoke at a big bitcoin-adjacent company this week and one of the best questions was from someone who asked what the downsides of bitcoin adoption might be.

I always do appreciate these steelman questions, the skeptical questions, the ones where we challenge ourselves. Only when we can answer those types of questions do we understand the concept that we are promoting.

So the classic example is that in modern economic literature, "deflation is bad". This, however, is only the case in a highly indebted system. Normally, deflation is good. Money appreciates, technology improves, and goods and services get cheaper over time as they should. Price of Tomorrow covers this well. My book touches on this too, etc. The "deflation is bad" meme is still alive in modern economic discourse and thus is worth countering, but I think in the bitcoin spectrum of communities, people get that deflation is fine and good.

My answer to the question was in two parts.

The first part was technological determinism. In other words, if we were to re-run humanity multiple times, there are certain rare accidents that might not replicate, and other commonalities that probably would. Much like steam engines, internal combustion engines, electricity, and nuclear power, I think a decentralized network of money is something we would eventually come across. In our case, Bitcoin came into existence as soon as the bandwidth and encryption tech allowed it to. In other universes or simulations it might look a bit different (e.g. might not be 21 million or ten minute block times exactly), but I think decentralized real-time settlement would become apparent as readily as electricity does, for any civilization that reaches this point. So ethics aside, it just is what it is. It exists, and thus we must deal with it.

The second part was that in my view, transparency and individual empowerment is rarely a bad thing. Half of the world is autocratic. And half of the world (not quite the same half) deals with massive structural inflation. A decentralized spreadsheet that allows individuals to store and send value can't possibly be a bad thing, unless humanity itself is totally corrupted. I then went into more detail with examples about historical war financing, and all sorts of tangible stuff. In other words, a whole chapter full of stuff. I've addressed this in some articles to.

In your view, if you had to steelman the argument as best as you could, what are the scenarios where bitcoin is *BAD* for humanity rather than good for it, on net?

good morning nostr, too much ego in this space, the freedom tech movement is much bigger than any of us 🫡