"The computers used to create valuable new Bitcoin tokens and validate transactions consume around the same amount of energy as a medium-sized country such as Sweden would generate. Hence the stinging critique of how this cryptocurrency wastes the planet’s precious resources." — Ian Birrell
Is it true that Bitcoin only wastes energy and is the sole purview of financial gambling and speculation in the western world, or are there boots on the ground showing the real results of the "pioneer species" thesis we've recently covered?
What if Bitcoin is bringing both financial independence, and electricity, those those with no other viable options?
This is a great article explaining this.
The African village mining Bitcoin
The cryptocurrency can be a liberating force
https://unherd.com/2024/01/the-african-village-mining-bitcoin/
If you are worried of fees you can always submit the Bitcoin transaction with low fees
It will just get into the chain days or weeks later.
I have done this several times and it works fine. You can always use RBF (Replace-by-Fee) to give the transaction a push.
Like giving a tip to the guard at the door to let you in the bank ;-)
“Bitcoin appears to be a decentralized Ponzi scheme not a decentralized currency. People don't spend it because they want it to go up. The dollar works because of inflation. It keeps velocity up like hot potato. If you want to store value silver gold and land. Because it's beautiful useful and valuable.
Bitcoin is a Ponzi scheme without an individual attached to it to go to prison. So the media can control swings for profit. That's my opinion about bitcoin. The purpose isn't currency the purpose is to make dollars. The dollars "weakness" is actually why it won't be replaced. Velocity.”— Owen Benjamin
Great article from Robert P Murphy that challenges the notion that a currency must be “weak,” in order for it to work as money. And while in some sense bitcoin is not yet money when it comes to widespread acceptance, is it possible, that it one day could be.
CAN AN APPRECIATING BITCOIN BE A GOOD MONEY?
https://www.infineo.ai/articles/can-an-appreciating-bitcoin-be-a-good-money
Face unlocking feature is less secure than patters, PINs, security physical keys, and passwords. Keep this in mind.
5 Ways To Prepare for the Online Privacy Crackdown
With legislation around the world seeking to gut encryption and online anonymity, Ramiro Romani offers an overview of what’s coming and several solutions for divesting from Big Tech products and protecting your online privacy.
Question nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx why all caps?
Happy #Bitcoin 15th Genesis Day! 🎂🥳🥳 Birthday
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May your blockchain be strong and secure, your hodl be steady, and your store of value be plentiful in the new year! Happy New Year, cryptocurrency nomads!
Bitcoin—Benefits for Business Owners Merchants
“Discord, the once niche platform for gamers, has risen to prominence as a multifaceted communication hub. While its strengths in community building and real-time interaction are undeniable, a shadow of concern looms when considering its approach to user privacy. Despite Discord's efforts to balance functionality with privacy, several challenges remain, leaving users grappling with the true cost of convenience.
While Discord offers undeniable value for certain communities, its inherent informality, shifting demographics, security limitations, lack of business-centric features, and rampant identity theft make it risky for enterprises and businesses seeking to build and engage professional online communities.”
Gaming the System: How Discord's Sinister Sino-Controlled Algorithmic Symphony Plays a Discordant Tune
https://polynom.app/blog/review-of-discord-malware-and-sinister-algorithms
"This makes Bitcoin miners uniquely symbiotic with energy grids serving as “demand response” partners. If energy is ever in short supply, people get priority over Bitcoin miners. However whenever there is excess energy, it gets monetized. This symbiotic relationship leads to more energy abundance generally." -- Brandon Quittem
Bitcoin is a Pioneer Species
Exploring Bitcoin Mining Through the Lens of Ecology
https://medium.com/the-bitcoin-times/bitcoin-is-a-pioneer-species-38f42ecdbb88
This iMessage exploit is crazy. TrueType vulnerability that has existed since the 90s, 2 kernel exploits, a browser exploit, and an undocumented hardware feature that was not used in shipped software:
Operation Triangulation: The last (hardware) mystery
https://securelist.com/operation-triangulation-the-last-hardware-mystery/111669/
The malware it dropped looks like it has existed for 10 years, collects everything, and uses Apple's client-side image recognition.
"We’re less than a year from another halving, awaiting systemic implications from federal regulation and institutional adoption, standing at the precipice of an American primary election into which Bitcoin has irrevocably inserted itself."
There is no civil war when the barbarians are at the door.
THE DIFFICULT ADJUSTMENT
A call to arms for innovation, cooperation and a change in Bitcoin’s discourse to create the means for Bitcoin to fulfill its potential. From “The Primary Issue”.
https://bitcoinmagazine.com/culture/the-difficult-adjustment
“There is a Remnant there that you know nothing about. They are obscure, unorganized, inarticulate, each one rubbing along as best he can. They need to be encouraged and braced up because when everything has gone completely to the dogs, they are the ones who will come back and build up a new society; and meanwhile, your preaching will reassure them and keep them hanging on. Your job is to take care of the Remnant, so be off now and set about it.”
What is a remnant?
The Remnant are those who by force of intellect are able to apprehend these *principles, and by force of character are able, at least measurably, to cleave to them. The masses are those who are unable to do either.
*The line of differentiation between the masses and the Remnant is set invariably by quality, not by circumstance.
Isaiah's Job
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GM #plebchain, stay humble, stack bits/sats, and think for yourself.
BTC Curaçao 2023 Yearend Review
Xfinity suffers data breach, 35 million people affected
"Xfinity discloses data breach affecting over 35 million people"
How do everyday breaches affect your exchange accounts? Exposed data can be used to triangulate accounts on other sites. This can be especially problematic if you use the same password across multiple sites. Create unique passwords for each online account, and using a password manager can help.
Giving someone bitcoin for the holidays? Make sure it's a spendable amount.
Economically Unspendable Bitcoin UTXOs
UTXO management guidance for avoiding footguns (*A “footgun” is a feature designed in such a way as to be extremely likely to cause problems. It's a great word because it puts blame on the design, not on users.) that can cause issues during times of high transaction fees.
https://blog.lopp.net/economically-unspendable-bitcoin-utxos/
Market conditions fluctuate. Eventually, people willing to overpay transactions run out of sats. If you plan on giving BTC over the holidays, it's best to give at least 0.01 BTC (Current market price ($437.29) for viable spending in the future.
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Shamir’s Secret Sharing is an underutilized technique for Bitcoiners and this is a great explanation of how it works.
How to Share a Secret (Shamir Secret Sharing)