GM #plebchain, stay humble, stack bits/sats, focus on these virtues
Courage, Justice, Temperance, Wisdom, and think for yourself.
"Quid nunc?" - What now? This simple phrase reminds us to stay focused and adaptable, ready to tackle whatever comes next.
What truly constitutes capital?
How does Bitcoin challenge and redefine our conventional understanding of it?
I'm revisiting an insightful article, Capital in the 21st Century by Allen Farrington, which dives into the nuanced relationship between money and capital—two ideas frequently mistaken as identical but actually quite different.
Farrington argues persuasively that money is not wealth itself, but rather a claim on wealth, serving as a fluid means to assess the value of what we genuinely seek.
Through this lens, he explores how Bitcoin transforms our comprehension of capital, entrepreneurship, and economic potential, drawing on perspectives from Austrian economics and other schools of thought.
It's all too common to overlook the fundamental issues Bitcoin aims to address.
This article cuts straight to the heart of those questions, offering clarity and depth. I’m delighted to revisit and share this piece.
Capital in the 21st Century — Axiom
“Not your keys, not your coins.”
This cardinal rule hinges on the security provided by complex mathematics involving massive random numbers. Your cryptocurrency holdings remain safe because these numbers are theoretically impossible for others to predict or uncover.
However, the advent of quantum computing poses a significant threat. Given enough computational power, a quantum-capable entity could potentially crack the cryptographic methods we rely on today. The concern here is whether we'll let early adopters of quantum technology — likely those who are already affluent and influential — exploit this advantage to compromise millions of BTC, thereby reshaping Bitcoin's economic landscape.
Should this quantum threat be viewed as a critical vulnerability, akin to a software bug?
Might there be a need to establish a timeline for phasing out older, vulnerable cryptographic signatures and invalidate compromised funds?
The solution may be more intricate than it appears initially. In his article, Jameson Lopp presents a compelling argument on this very issue.
Against Allowing Quantum Recovery of Bitcoin -- Jameson Lopp
The power of Bitcoin stems from its essential characteristics: minimizing trust, decentralization, resistance to censorship, and beyond.
Yet, precisely what underpins these principles and their significance remains a topic of exploration. Consider this insightful article titled “What Are the Key Properties of Bitcoin?”, which meticulously examines the core features that define Bitcoin.
It also dives into current protocol discussions and looming challenges such as quantum computing.
Grasping Bitcoin's fundamentals is not merely theoretical; it's crucial for understanding our present position and future trajectory in this evolving landscape.
What are the Key Properties of Bitcoin? -- Jameson Lopp
https://nakamoto.com/what-are-the-key-properties-of-bitcoin/
Fiat Currency is Monetary Socialism
The U.S. Dollar Is Just Socialism With Extra Steps
https://hackernoon.com/the-us-dollar-is-just-socialism-with-extra-steps
How secure is your PII?
Oracle has reportedly suffered 2 separate breaches exposing thousands of customers‘ PII
GM #plebchain, stay humble, stack bits/sats, focus on these virtues
Courage, Justice, Temperance, Wisdom, and think for yourself.
"As a Stoic would say: ' Ησυχία και χάρη' - Silence and grace, let these guide your morning endeavors. Starting the day with tranquility prepares us for whatever challenges come our way." [Silence cultivates inner peace; grace ensures we meet those challenges with dignity].
Bitcoin Covenants: CHECKTEMPLATEVERIFY (BIP 119)
https://bitcoinmagazine.com/technical/bitcoin-covenants-checktemplateverify-bip-119
Tips on Remaining Anonymous
After the upcoming recession, anticipate a 1950s-like decade of property growth.
GM #plebchain, stay humble, stack bits/sats, focus on these virtues
Courage, Justice, Temperance, Wisdom, and think for yourself.
"Today, I will act with wisdom, respond with calm, and accept with grace."
I wholeheartedly welcome the emergence of artificial intelligence, whether it's narrow AI, general AI, or even superintelligent AI. Unlike many, I don't harbor any fear of these advanced technologies; instead, I'm drawn to the possibilities and opportunities they bring, and I'm excited to see how they'll shape our future.
AI will look like humans and not robots.
We're going to administer a test to determine whether you're human or a highly advanced artificial being, similar to the method used in the Blade Runner universe to identify replicants.
This test is designed to gauge your emotional reactions to a set of questions and provocative images, exploiting the idea that artificially created beings, like replicants, struggle to genuinely experience emotions, as they lack the inherent essence of humanity - a soul. Born from code and circuitry, AI entities often fail to convincingly replicate the intricate, soul-driven emotional responses that come naturally to humans.
That is why I welcome AI, AGI, and ASI. I have no fear of it.
Earn extra crypto rewards when you use this link to apply for the Gemini Credit Card and are approved. Check out offer and benefits.
https://creditcard.exchange.gemini.com/credit-card/apply?referral_code=wexk3gnyg
GM #plebchain, stay humble, stack bits/sats, focus on these virtues
Courage, Justice, Temperance, Wisdom, and think for yourself.
"Rise with purpose. The day's challenges are not obstacles, but opportunities to practice virtue. What is within your control? Act there. The rest is noise."
GM #plebchain, stay humble, stack bits/sats, focus on these virtues
Courage, Justice, Temperance, Wisdom, and think for yourself.
"Today, I will meet whatever comes my way with equanimity and resolve, for the impediment to action advances action. What stands in the way becomes the way."
GM #plebchain, stay humble, stack bits/sats, focus on these virtues
Courage, Justice, Temperance, Wisdom, and think for yourself.
"When you arise in the morning, think of what a precious privilege it is to be alive—to breathe, to think, to enjoy, to love."
— Marcus Aurelius
Based on Shinobi's article “A Solution to Scaling Lightning,” timeout trees propose a revolutionary approach to enhancing the Lightning Network's scalability by leveraging CheckTemplateVerify (CTV) to create a simple yet powerful scaling primitive.
This innovative solution could potentially unlock unprecedented efficiency, addressing long-term scaling limitations and optimizing channel factories—structures that allow multiple users to share on-chain transactions for opening payment channels.
Timeout trees offer more than just technical advancements; they hold the potential to decentralize trust and reshape financial systems.
By empowering individuals and communities to reclaim sovereignty in a centralized world, they represent a transformative milestone for Bitcoin's future.
Timeout Trees: A Solution To Scaling Lightning Network https://bitcoinmagazine.com/technical/timeout-trees-a-solution-to-scaling-lightning-network-lsps
Imagine a heating system that not only keeps your home cozy but also pays you in Bitcoin.
This is the concept of "heat punks," where Bitcoin miners harness their rigs to both warm their living spaces and earn cryptocurrency rewards.
The article dives into the economics of this clever dual-purpose approach, analyzing the upfront investment costs and the unexpected efficiencies that make it a practical option.
By tapping into mining rewards, these innovators might transform heating from a typical household expense into a beneficial byproduct of their Bitcoin mining efforts.
A Heatpunk's Manifesto