Man! I'm just starting to learn Rust. I love how fast it is, and the error catching at compile time is great!
The relay is in the phone!
It's even easier than that since he can just loan money with nothing in reserve. š¤”š¤”š¤”
https://www.investopedia.com/articles/investing/022416/why-banks-dont-need-your-money-make-loans.asp
Yeah. It's amazing that it is legal. Absolutely ridiculous.
This is why we need self-custody LN wallets: so they can't go after 100 big custodians but have to go to the 10M-100M real individuals. Make tax enforcement infeasible!
Their main asset of exchange is inflating at a rapid rate, so their time preference is extreme. They can't think in terms longer than 3-month intervals.
Yes, hurt performance all around. Relays may filter low WoT content, like a spammy npub commenting on tons of posts of those who don't "trust" it. I think it'd need a threshold, though, because it would otherwise lock new users out.
Bummer
I gotta say... "tokamak" is cool and all, but "stellarator" sounds just completely awesome. Great news for SK! ģ¶ķķ“ģ!
Yep. Our eldest is a challenge. The strong-willed boy gives us a bit of work. Our second boy is quite different. Much more compliant, but no push over, since he does need to contend with big brother. Our third, on the way, will either have two big brothers to protect her very well, or two big brothers with whom he must rival!
We're expecting for September, and I have my suspicions it will be a girl. We're finding out next week, I think.
Excellent! I agree, the speculative nature of Bitcoin is, I think, a hiccup, but I don't believe it is the only one. If a new money is to replace an old, there must be some wealth transfer. The danger of speculative wealth building is that one is hoping to get wealthy off of other's expense, and I agree that is avarice, but that isn't a necessary motivational component for being a Bitcoiner.
I know Imam's a fan of precious metals money (coinage and paper notes with embedded metals, like a 1g gold paper meaning there's 1g of gold embedded into it), but it's unusable in a tele-comm age or would require far too much custodianship.
Money, at its essence, is information about who has done what for whom, and we either make the physical world the ledger, and atoms of gold are the tokens, or we will embed the ledger in writing and digital sygnals.
Because the Nostr paradigm is a future I want. Censorship resistance, provable authorship, no ads, and no gateeeping by the platform owners in particular.
The folks over at New Polity (Catholic) have made a similar point and Iām still mulling over it. The implications of insurance, especially mandatory insurance, are much further reaching than I initially observed.
https://newpolity.com/blog/against-modern-insurance?rq=Insurance
I like the New Polity guys. I think Jacob Imam (the guy whose heading the Good Money side) doesn't quite understand bitcoin, and I think he's unnecessarily strict on investment, but other than that he's got a lot of great ideas.
Agreed. This is why giant, national insurance is a bad idea to begin. The idea is nice: everyone pays a little so that unfortunate individuals don't lose everything. The problem is that the company that manages it has an intrinsic conflict of interest in not paying the unfortunate. It is unavoidable. Game theory will show that the optimal policy is to pay out as little as is legally required to customers.
The solution is to gamify the system to optimize mitigating and distributing risk from individuals to their neighbors who desire their good. This is not to make professional insurance customers (sue-happy vultures, etc.) or large companies that love to line their pockets and make excuses. This is to keep people from losing their shirts when they get into a fender-bender and need some chiropractic care, or help replace a vehicle after a freak fire in their truck cab.
This is already done for health in cost-sharing plans. (We use Samaritan, and I know there's a Bitcoin-backed/-integrated one out there, too.)
I've maintained that most insurance is scam, but here's at least some good ranking.
Parents had Allstate, and they didn't cover a freak fire in their truck cab. They had just purchased it for cash at $17k, and that while thing went up in smoke.
I opt for the absolute minimum that is legal*, and then just have a good stash saved up instead.
https://youtube.com/shorts/-0YI3pPekwc
*Do you think being legally required to have insurance is a factor continuum to the problem? Just a thought...
You can add me to that list, too. I've been hovering between WordPress for vast extensibility and client-updateable content, and then really wanting to use React for more projects.
Any other #businessOwner 's on Nostr?
#smallBusiness #localBusiness #askNostr