Even if a bad guy does overpower the network, it's not like he's instantly rich. All he can accomplish is to take back money he himself spent, like bouncing a check. To exploit it, he would have to buy something from a merchant, wait till it ships, then overpower the network and try to take his money back. I don't think he could make as much money trying to pull a carding scheme like that as he could by generating bitcoins. With a zombie farm that big, he could generate more bitcoins than everyone else combined.

What’s your favorite #nostr web client? Not iOS, not Android, but web client. In the browser. Web. Web client.

When money inflates in supply, employers have the benefit of the status quo, and wage earners have the burden of work to negotiate higher nominal wages to keep up.

The effect is subtle in developing countries, a few percentage points per year, but it's always there behind the scenes. People often have to switch jobs to get proper higher wages, and avoid the anchoring bias from their prior employer. This is all because of dilutive fiat money.

The problem becomes more obvious in developing countries.

For example, the IMF tells Egypt to cut its currency in half relative to the dollar, if it wants some loan relief. It does. Now, every Egyptian wage earner has to try to negotiate a raise to regain some portion of their prior wages in terms of global purchasing power. Virtually all of them will not be able to. And then seven years later they do it again.

But when money deflates in supply, and the unit of account therefore appreciates, wage earners gain the benefit of the status quo in negotiations. If their salaries merely remain the same as averages prices go down, they have gained a raise (which makes sense, with greater experience).

The burden of work shifts to the employer, who has to argue that wages should be cut in line with prices.

I think the magnitude of this effect is poorly understood. If it were more understood, I think a subset of labor-oriented political proponents would appreciate hard money a bit more.

Moving in the right direction. Stay tuned for Primal iOS TestFlight 3, coming later this week with improved feed rendering, new features and more fixes.

If a book had a decent number of diagrams and charts, would you want the audio version or would you want the physical/ebook (visual version)?

Secondary question- if those charts and diagrams are described in the audio version by someone who knows what they are talking about, would that affect the answer?

The future is here

nostr:note144d8k4p5pr4rl6c7hd7jzxc332jvunrxlrulag4vjwc865t0jzwszg7ec2

If u want fiction, have you read the Mandibles?

Non Fiction - Bitcoin Standard

Ireland 🇮🇪: Around 2000 farmers started protests this Friday (14) against government plans to slaughter 200 thousand cows, which are intended to reduce emissions that contribute to climate change.