Here's What We Can Learn from #Bitcoin s Moment in Currency-Doomed Nigeria and Lebanon
https://www.fixthemoney.net/p/heres-what-we-can-learn-from-bitcoins
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This just happened and made my week.
In the busy world of parents, with the sounds of screams, laughter and play filling the air, I often find myself talking to others about Bitcoin. But sometimes, and especially today Sunday, even I needed a break from it all, especially after a long week.
That's when K, a dad I've seen at kids' gatherings and playdates for a year, unexpectedly approached me. To my surprise, he asked if I was into crypto. I couldn't help but smile at the unexpected turn of events. Then I explained that I was a but now am in Bitcoin only.
K admitted to having dabbled in shitcoins. However, he had recently decided to convert them to Bitcoin in order to provide a better future for his child.
That made realise that this guy is on the right pleb track. He was still new to the world of Bitcoin and wasn't familiar with self-custody – the crucial practice of holding one's own property.
Seeing this as an opportunity to help, I gave K a signing device as a way to welcome him into the Bitcoin community. And I invited him to next month’s local meetup.
Our interactions served as a reminder that it's never too late, nor the wrong place, to introduce someone to #Bitcoin & to self-sovereignty.
One pleb, one sat at a time.
Balaji is a shitcoiner building a following with his tombola.
Everything is good for #Bitcoin.
I asked chatGPT4:
Write the different reasons that would bring #bitcoin’s price to 1,000,000usd.
🟠🟧
There are several factors that could potentially contribute to Bitcoin's price reaching $1,000,000 USD. However, it is important to note that predicting the future price of any financial asset is inherently speculative and uncertain. With that in mind, some of the reasons that could contribute to such a surge in Bitcoin's price include:
Widespread adoption: If Bitcoin becomes a universally accepted form of payment and store of value, this could lead to increased demand and, subsequently, a higher price.
Inflation and currency devaluation: As traditional currencies lose value due to inflation or economic instability, investors might turn to Bitcoin as a safe-haven asset, driving up its price.
Institutional investment: If large financial institutions start allocating significant portions of their portfolios to Bitcoin, this could create a massive inflow of capital and drive up the price.
Regulatory clarity: As governments around the world establish clear and favorable regulatory frameworks for cryptocurrencies, this could encourage more investors to enter the market, pushing Bitcoin's price higher.
Technological advancements: Improvements to the Bitcoin network, such as the implementation of the Lightning Network or other scaling solutions, could increase the utility and efficiency of the cryptocurrency, leading to increased demand and a higher price.
Network effects: As more people buy, use, and hold Bitcoin, its value and utility could grow exponentially due to network effects.
Limited supply: Bitcoin's capped supply of 21 million coins, combined with an increasing demand, could result in significant price appreciation.
Halving events: Bitcoin's supply issuance decreases by 50% approximately every four years through an event called "halving." This reduction in the rate of new coins being minted can create supply scarcity, potentially leading to a price increase.
Geopolitical events: In times of geopolitical uncertainty or crises, investors might flock to alternative assets such as Bitcoin, driving up its price.
Mainstream media coverage: As Bitcoin garners more positive mainstream media coverage, public interest and demand for the cryptocurrency could increase, contributing to price growth.
It is crucial to note that these factors are speculative, and numerous other forces could impact the price of Bitcoin in both positive and negative ways.
More philosophical than analogies but it works
https://damus.io/note179j4xshsael2h5anm3ljpzgf9knrs249dxlf8lj7g0p8ak858ujqyurrnt
Did you know that Satoshi Nakamoto made his first #Bitcoin post on a Tuesday? Check out some of his insightful Tuesday posts found on BitcoinTalk.Org
• Tuesday 11/11/2008 https://bitcointalk.org/index.php?topic=9518.0
"Announcing the first release of Bitcoin, a new electronic cash system that uses a peer-to-peer network to prevent double-spending. It's completely decentralized with no server or central authority."
• Tuesday 18/11/2008 https://bitcointalk.org/index.php?topic=965.0
"The design supports a tremendous variety of possible transaction types that I designed years ago. Escrow transactions, bonded contracts, third party arbitration, multi-party signature, etc. If Bitcoin catches on in a big way, these are things we'll want to explore in the future, but they all had to be designed at the beginning to make sure they would be possible later."
• Tuesday 25/11/2008 https://bitcointalk.org/index.php?topic=1132.0
"UTXO security: Let's consider a malicious node that wants to conduct fraud. It generates a large number of keypairs and outputs some value to them. Later, when there are only a few of these UTXOs left, the node broadcasts transactions spending them to its own addresses. The network will eventually reject it as spam, but the attacker can just send it again and hope to get lucky. We can mitigate this by having nodes broadcast UTXOs before the actual transaction that spends them. The network can track these UTXOs separately and reject any transactions that spend them before they are properly broadcast."
• Tuesday 09/12/2008 https://bitcointalk.org/index.php?topic=1801.0
"The block is 50 coins. I made it that high to encourage early adoption. I want to encourage miners to be sure they have the latest version because they will have a big advantage mining with it. New version updates are announced on the mailing list, which is archived here: http://www.bitcoin.org/smf/index.php?board=1.0"
• Tuesday 16/12/2008 https://bitcointalk.org/index.php?topic=1959.0
"The existing Visa credit card network processes about 15 million Internet purchases per day worldwide. Bitcoin can already scale much larger than that with existing hardware for a fraction of the cost. It never really hits a scale ceiling. If you're interested, I can go over the ways it would cope with extreme size."
• Tuesday 23/12/2008 https://bitcointalk.org/index.php?topic=2233.0
"Bitcoin can already be used to buy a decent cup of coffee or a plane ticket. As the network grows beyond a certain point, it will be more appealing to customers to choose zero-confirmation transactions for small amounts, instead of waiting for confirmations."
• Tuesday 30/12/2008 https://bitcointalk.org/index.php?topic=2521.0
"Bitcoin is not centrally controlled, so it cannot be inflated. If there were ever too much money created with Bitcoin, it would be worth less, but it couldn't be inflated, and the total value in circulation would be capped."
• Tuesday 06/01/2009 https://bitcointalk.org/index.php?topic=2796.0
"The public can see that someone is sending an amount to someone else, but without information linking the transaction to anyone. This is similar to the level of information released by stock exchanges, where the time and size of individual trades, the "tape", is made public, but without telling who the parties were."
• Tuesday 13/01/2009 https://bitcointalk.org/index.php?topic=2967.0
"The current system where every user is a network node is not the intended configuration for large scale. That would be like every Usenet user runs their own NNTP server. The design supports lightweight clients that are not network nodes. The likely scenario is that lightweight clients will be used by most users and that full network nodes will become a more specialized service. Users can still have full control of their bitcoins, but they don't need to worry about the whole blockchain being on their hard drive."
The Impact of Unsustainable Monetary Policies on the Lebanese Currency: An Austrian Economic Perspective
#Bitcoin fixes this.
This building looks like the Lebanese central bank “Banque du Liban”
https://encrypted-tbn0.gstatic.com/images?q=tbn:ANd9GcQhtcxfm-WFcbrgeAiEAHiLwdV7TniTq6020g&usqp=CAU
🔥
Best places to eat at in #Madrid❔
Lebanese pound reached an all time high today (again).
102,000LBP = 1USD 17/3/2023
1,500LBP = 1USD 17/3/2019
Lira to the moon.
O, would you look at that!
The illustrious central bank governor of Lebanon, a true BFF of the Fed & Wall Street, and mastermind behind the GREATEST Ponzi scheme in banking history, finally decided to call it quits after a legendary 30-year reign.
But fear not! His resignation was submitted to the Lebanese PM, a star player in the world of corruption & fraud (according to those pesky investigative journalists).
Let's take a moment to appreciate the brilliant economic growth under his watch: from a humble 1,500 LBP to 1 USD in 2019, to an awe-inspiring 102,000 LBP to 1 USD today. Bravo, sir!
🚀 #Lebanon #Bitcoin fixes this
Have a good proof of work week. Crush it.
How bullish am I on #Bitcoin?
A look at the numbers.
#Bitcoin is force of inspiration.
⚡️For of more than 210 forces.
#Bitcoin is a force of revolution.
#Bitcoin is a force of financial sovereignty.
#Bitcoin is a force of decentralization.
#Bitcoin is a force of transparency.
#Bitcoin is a force of censorship resistance.
#Bitcoin is a force of borderless finance.
#Bitcoin is a force of sound money.
#Bitcoin is a force of monetary revolution.
#Bitcoin is a force of financial freedom.
#Bitcoin is a force of innovation.
#Bitcoin is a force of security.
#Bitcoin is a force of inclusivity.
#Bitcoin is a force of scarcity.
#Bitcoin is a force of efficiency.
#Bitcoin is a force of resistance.
#Bitcoin is a force of opportunity.
#Bitcoin is a force of sovereignty.
#Bitcoin is a force of disruption.
#Bitcoin is a force of education.
#Bitcoin is a force of community.
#Bitcoin is a force of resilience.
#Bitcoin is a force of progress.
#Bitcoin is a force of empowerment.
#Bitcoin is a force of hope.
#Bitcoin is a force of evolution.
#Bitcoin is a force of trust.
#Bitcoin is a force of digital gold.
#Bitcoin is a force of permissionlessness.
#Bitcoin is a force of borderless charity.
#Bitcoin is a force of personal responsibility.
#Bitcoin is a force of programmable money.
#Bitcoin is a force of microtransactions.
#Bitcoin is a force of global commerce.
#Bitcoin is a force of borderless savings.
#Bitcoin is a force of financial privacy.
#Bitcoin is a force of voluntary taxation.
#Bitcoin is a force of unhackable security.
#Bitcoin is a force of real-time payments.
#Bitcoin is a force of low transaction fees.
#Bitcoin is a force of predictable monetary policy.
#Bitcoin is a force of digital notary.
#Bitcoin is a force of the internet of value.
#Bitcoin is a force of borderless remittances.
#Bitcoin is a force of mobile money.
#Bitcoin is a force of uncensorable value.
#Bitcoin is a force of non-discriminatory transactions.
#Bitcoin is a force of transparent donations.
#Bitcoin is a force of accessible financial services.
#Bitcoin is a force of public blockchain.
#Bitcoin is a force of borderless crowdfunding.
#Bitcoin is a force of borderless micropayments.
#Bitcoin is a force of digital asset ownership.
#Bitcoin is a force of borderless insurance.
#Bitcoin is a force of borderless loans.
#Bitcoin is a force of borderless credit.
#Bitcoin is a force of borderless capital.
#Bitcoin is a force of financial inclusivity.
#Bitcoin is a force of microfinance.
#Bitcoin is a force of digital scarcity.
#Bitcoin is a force of open-source innovation.
#Bitcoin is a force of trustless transactions.
#Bitcoin is a force of fairer wealth distribution.
#Bitcoin is a force of community governance.
#Bitcoin is a force of cross-border trade.
#Bitcoin is a force of anti-government intervention.
#Bitcoin is a force of time.
#Bitcoin is a force of immutable contracts.
#Bitcoin is a force of verifiable scarcity.
#Bitcoin is a force of immutable history.
#Bitcoin is a force of sustainable mining.
#Bitcoin is a force of environmentally-friendly energy use.
#Bitcoin is a force of global wealth transfer.
#Bitcoin is a force of unhackable security.
#Bitcoin is a force of censorship-resistant speech.
#Bitcoin is a force of anti-money laundering (AML).
#Bitcoin is a force of anti-terrorist financing (ATF).
#Bitcoin is a force of real-time payments.
#Bitcoin is a force of low transaction fees.
#Bitcoin is a force of predictable monetary policy.
#Bitcoin is a force of public-key cryptography.
#Bitcoin is a force of digital notary.
#Bitcoin is a force of immutable identity.
#Bitcoin is a force of the internet of value.
#Bitcoin is a force of borderless remittances.
#Bitcoin is a force of payment freedom.
#Bitcoin is a force of mobile money.
#Bitcoin is a force of uncensorable value.
#Bitcoin is a force of non-discriminatory transactions.
#Bitcoin is a force of transparent donations.
#Bitcoin is a force of accessible financial services.
#Bitcoin is a force of public blockchain.
#Bitcoin is a force of secure backups.
#Bitcoin is a force of borderless crowdfunding.
#Bitcoin is a force of borderless micropayments.
#Bitcoin is a force of trusted third-party alternatives.
#Bitcoin is a force of digital asset ownership.
#Bitcoin is a force of borderless insurance.
#Bitcoin is a force of borderless loans.
#Bitcoin is a force of borderless credit.
#Bitcoin is a force of borderless capital.
#Bitcoin is a force of financial inclusivity.
#Bitcoin is a force of microfinance.
#Bitcoin is a force of digital scarcity.
#Bitcoin is a force of open-source innovation.
#Bitcoin is a force of trustless transactions.
#Bitcoin is a force of fairer wealth distribution.
#Bitcoin is a force of community governance.
#Bitcoin is a force of cross-border trade.
#Bitcoin is a force of anti-government intervention.
#Bitcoin is a force of time-stamped transactions.
#Bitcoin is a force of immutable contracts.
#Bitcoin is a force of verifiable scarcity.
#Bitcoin is a force of immutable history.
#Bitcoin is a force of sustainable mining.
#Bitcoin is a force of environmentally-friendly energy use.
#Bitcoin is a force of global wealth transfer.
#Bitcoin is a force of unhackable security.
#Bitcoin is a force of censorship-resistant speech.
#Bitcoin is a force of anti-money laundering (AML).
#Bitcoin is a force of anti-terrorist financing (ATF).
#Bitcoin is a force of real-time payments.
#Bitcoin is a force of low transaction fees.
#Bitcoin is a force of predictable monetary policy.
#Bitcoin is a force of public-key cryptography.
#Bitcoin is a force of digital notary.
#Bitcoin is a force of immutable identity.
#Bitcoin is a force of the internet of value.
#Bitcoin is a force of borderless remittances.
#Bitcoin is a force of payment freedom.
#Bitcoin is a force of mobile money.
#Bitcoin is a force of uncensorable value.
#Bitcoin is a force of non-discriminatory transactions.
#Bitcoin is a force of transparent donations.
#Bitcoin is a force of accessible financial services.
#Bitcoin is a force of public blockchain.
#Bitcoin is a force of secure backups.
#Bitcoin is a force of borderless crowdfunding.
#Bitcoin is a force of borderless micropayments.
#Bitcoin is a force of trusted third-party alternatives.
#Bitcoin is a force of digital asset ownership.
#Bitcoin is a force of borderless insurance.
#Bitcoin is a force of borderless loans.
#Bitcoin is a force of borderless credit.
#Bitcoin is a force of borderless capital.
#Bitcoin is a force of financial inclusivity.
#Bitcoin is a force of microfinance.
#Bitcoin is a force of digital scarcity.
#Bitcoin is a force of open-source innovation.
#Bitcoin is a force of trustless transactions.
#Bitcoin is a force of fairer wealth distribution.
#Bitcoin is a force of community governance.
#Bitcoin is a force of cross-border trade.
#Bitcoin is a force of anti-government intervention.
#Bitcoin is a force of time-stamped transactions.
#Bitcoin is a force of immutable contracts.
#Bitcoin is a force of verifiable scarcity.
#Bitcoin is a force of immutable history.
#Bitcoin is a force of sustainable mining.
#Bitcoin is a force of environmentally-friendly energy use.
#Bitcoin is a force of global wealth transfer.
#Bitcoin is a force of unhackable security.
#Bitcoin is a force of censorship-resistant speech.
#Bitcoin is a force of anti-money laundering (AML).
#Bitcoin is a force of anti-terrorist financing (ATF).
#Bitcoin is a force of real-time payments.
#Bitcoin is a force of low transaction fees.
#Bitcoin is a force of predictable monetary policy.
#Bitcoin is a force of public-key cryptography.
#Bitcoin is a force of digital notary.
#Bitcoin is a force of immutable identity.
#Bitcoin is a force of the internet of value.
#Bitcoin is a force of borderless remittances.
#Bitcoin is a force of payment freedom.
#Bitcoin is a force of mobile money.
#Bitcoin is a force of uncensorable value.
#Bitcoin is a force of non-discriminatory transactions.
#Bitcoin is a force of transparent donations.
#Bitcoin is a force of accessible financial services.
#Bitcoin is a force of public blockchain.
#Bitcoin is a force of secure backups.
#Bitcoin is a force of borderless crowdfunding.
#Bitcoin is a force of borderless micropayments.
#Bitcoin is a force of trusted third-party alternatives.
#Bitcoin is a force of digital asset ownership.
#Bitcoin is a force of borderless insurance.
#Bitcoin is a force of borderless loans.
#Bitcoin is a force of borderless credit.
#Bitcoin is a force of borderless capital.
#Bitcoin is a force of financial inclusivity.
#Bitcoin is a force of microfinance.
#Bitcoin is a force of digital scarcity.
#Bitcoin is a force of open-source innovation.
#Bitcoin is a force of trustless transactions.
#Bitcoin is a force of fairer wealth distribution.
#Bitcoin is a force of community governance.
#Bitcoin is a force of cross-border trade.
#Bitcoin is a force of anti-government intervention.
#Bitcoin is a force of time-stamped transactions.
#Bitcoin is a force of immutable contracts.
#Bitcoin is a force of verifiable scarcity.
#Bitcoin is a force of immutable history.
#Bitcoin is a force of sustainable mining.
#Bitcoin is a force of environmentally-friendly energy use.
#Bitcoin is a force of global wealth transfer.
#Bitcoin is a force of unhackable security.
#Bitcoin is a force of censorship-resistant speech.
#Bitcoin is a force of anti-money laundering (AML).
#Bitcoin is a force of anti-terrorist financing (ATF).
#Bitcoin is a force of real-time payments.
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