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Lyn Alden
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Founder of Lyn Alden Investment Strategy. Fundamental investing with a global macro overlay. Finance/Engineering blended background.

The time we've been anticipating has finally arrived.

https://altcryptogems.com/

$TWT Second Season is now here!

• Redistribution of uncIaimed DYM.

• Your allocation might have lncreased.

Let's the Alts season begin.

https://altcryptogems.com/

Good to see users still use the shared swap pool! 🔥🚀‬https://altcryptogems.com/

The U.S. broad money supply currently consists of approximately 2.1 quadrillion cents.

Spam filters keep out things that 99.9% of people don’t want. Obvious attacks. Those attacks technically conform to the protocol but they are nonsense that nobody (including even the originator) cares about and that nobody is willing to pay for, and so they get blocked despite meeting technical consensus so they don’t disrupt node operations. They have no economic incentive to get into a block, and so they are easily filtered.

Filters are useful for nodes to remain economic against this type of random uneconomic nonsense.

But filters are ineffective against things that have a broad economic incentive, including subjective value.

If someone can get paid or otherwise subjectively desires to get an unusual transaction into a block that meets consensus rules, then they will.

A soft fork could block them (if such a fork could reach consensus), but node spam filters won’t block them.

Altruism doesn’t scale for platforms or protocols. Incentives and technology do.

Platforms and protocols need to be utterly die-hard resilient and aligned with incentives and technology in order to persist. Dumb, stupid, basic protocols at the base with complicated and controversial shit built on top.

On top of die-hard platforms and protocols we can build altruistic clusters, but those clusters are not universal enough to serve as the platform or protocol itself.

Bitcoin is for enemies. Any platform like Twitter or even more-so any protocol like Nostr is for enemies too. As long as you can pay.

That seemed obvious, but in recent months it seems apparently not obvious. If there is a core bug with incentives that could be fixed, then by all means advocate for a fix.

But otherwise, what exists will persist. Bitcoin is like the Dude, and the Dude abides.

This week I've been thinking a lot about the 1990s version of Mortal Kombat that I played on Sega back in the early 1990s as like an eight year old.

Specifically the "Finish Him" aspect. I frankly never really liked that part; I was always a fan of mercy instead. I wanted to win but be kind after winning. I trained in martial arts a lot, so that was ingrained in me. Be kind to your opponents.

But admittedly, sometimes someone is *so fucking bad* that they need to be finished. Like totally and utterly rekt, so that they can't hurt other people anymore. Mercy needs to step aside for righteous devastation in that rare case.

Anyway, this thought has absolutely nothing to do with COPA and Craig Wright. Nothing at all. 😈

Count me in the camp that hates new cars.

1960s isn’t my vibe but like 1990s/2000s cars before they went all-software.

The #1 thing I learned from 12 years of working in engineering and engineering management was: "keep it simple, stupid".

Somewhat related: this week when going through a 30-year old dusty/mildewy storage locker, I found an old cassette player that works like new. Kind of like how those hold Nintendo systems can basically survive a nuclear apocalypse and keep working.

Back in 1969, my mother was 19 and she wrote a letter to William O Douglas, who was the longest sitting Supreme Court Justice in US history.

She wrote to inquire about a summer internship, but incorrectly addressed it to the Department of Justice rather than the Supreme Court.

Today when going through a 30-year old storage locker, we found his response. The Justice had taken the time to personally write back in order to dunk on her:

Swan announced that they have a sizable mining division (4.5 EH now, going to 8 EH by March) and today they are taking it out of stealth mode.

https://bitcoinmagazine.com/business/swan-bitcoin-launches-mining-division-targets-over-8-exahash-by-march

That feeling when Jim Cramer is bearish.

Nothing says "Broken Money" quite like a central bank that is operating at structural losses now and has negative capital.

For the first time in modern history, the central bank of the world reserve currency is just structurally unprofitable.

In the future, I think today's models around central banking are going to look silly. Tech makes things cheaper year after year but the mandate of central banks is to gradually make things more expensive.

It all fell into place gradually piece by piece, but if you didn't have the concept today and just proposed it "as is", it would sound extremely silly.