Need to break the cycle of violence somehow. š
Itās not clear what system youāre referring to. Iām not aware of any savings and loans industry operating for thousands of years under a pure hard money system.
If youāre looking for historical analogues, consider that under a gold standard, the Muslim world outlawed the payment of interest.
https://www.investopedia.com/articles/07/islamic_investing.asp
Also consider that the payment of interest mathematically requires an elastic monetary supply to function. If there are only 21 million bitcoin, how can x% more be repaid? You canāt go to a bank and borrow new units into existence. Theoretically you would have to purchase those units from holders at unknown cost, making it impossible to know the real cost of your loan from the outset.
Bitcoin is our one chance. We canāt mess it up!
We need to take BitVM as a lesson. Itās exciting that we have ānewā functionality, but itās terrifying that bitcoin was updated and nobody knew that this was there. This is the second time that Taproot had unintended consequences. First inscriptions and now BitVM.
The problem is that new expansive technologies are being added to bitcoin without full appreciation of how the change will be used (or abused). Devs love new technologies and new possibilities. āWe could do this! Or this! Or that!ā But this makes the changed software more complex (which increases bugs), and risky (with more ways to be abused).
The better way might be to scope down updates to specifically solve a narrow use-case. This could also help make the change more understandable which might help the community reach consensus faster.
Maybe this is now a moot point because BitVM might accelerate bitcoin ossification. š¤·āāļø
Good Morning Nostr š§”ā”
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Nostr is filled with amazing people like this so we'd love for you to get involved in the movement. š„
FYI, check the SimpleX link on the website. Seems broken.
One of the best institutional papers about bitcoin. Send it to any skeptical banker-types you know.
His writing implies that he spends a lot of time here doing āresearchā for new content and funny how heās promoting it to others. Another example of bad PR being good PR. š
I donāt see how debt continues to be widely used under a hard money (bitcoin) standard. The fiat world is based on debt. I expect a bitcoin standard to be based on savings and equity (profit sharing).
Iāve had this daydream since I was a kid. You would access the grand underground house from a decoy old dilapidated farmhouse above. I always imagined the secret entrance behind a closet in one of the bedrooms. š
I think youāre right that RFK wont win, but if he stays in the race as an independent then heāll guarantee Trump wonāt win either. Trump now has to pick him as VP to get him out of the race and recapture RFKās votes.
Trump + Kennedy 24
Itās now checkmate for Trump. He is forced to pick Kennedy as his running mate because he will lose otherwise. Kennedy, as an independent, will siphon more votes from Trump than he will from Biden (Newsom).
Well, it doesnāt matter in the end either way. Itās just a big soap opera. šæ
Itās amazing how new bitcoin features have massive unintended side effects.
Taproot accelerated inscriptions and now Turing complete computation. Hopefully nothing negative comes of this. š¤
Letās see if I understandā¦
The US and UK overthrew Iranās democratically elected leader which resulted in the current Islamic Republic?
Israel funded the creation of Hamas to provoke conflict between the Palestinians?
The US funded radical Muslims like Osama Bin Ladin to provoke conflict with the Soviets?
The world is messed up and didnāt have to be this way. I guess thatās why Ron Paul was always trying to fix the money.
Which greatest hit is your fav?
https://twitter.com/boriquagato/status/1710783332160831551#m
Whatās your take on the situation? I donāt feel I can trust mainstream news on the topic.
āHypothesis: A powerful force is at war with us. It has no regard for our rights because thatās the nature of war. Instead of confronting us in battle, it captured our system. [ā¦] It induces us to make war on ourselves, on every conceivable front.ā
ā Bret Weinstein
Focusing on food, rather than pills or the like, implies a desire to conduct mass genetic manipulation on the population secretly without their consent.
https://twitter.com/VigilantFox/status/1709607674894041339#m
Most investment professionals probably still believe that US Treasuries are safer than bitcoin. š¤Ŗ
Eventually everyone will figure out that the supply of one is fixed, while the other is created without limit. 
Did you think that you actually own your real estate? You bought it, but itās not yours.
https://www.latimes.com/california/story/2023-10-04/airbnb-guest-refuse-pay-leave-luxury-rental