Reminder to the bitcoin purists. Recent events are utterly unsurprising when viewed through the lense of history. None of this is new. You would know that if you had done your homework.
Don’t see any benefit for Bitcoin, if not destructive at this point.
https://academy.binance.com/en/articles/what-are-brc-20-tokens
Think long term.
It's BRC-20 with a more friendly implementation. It uses OP_RETURN instead of inscriptions so it doesn't waste as much space. Degens bid up fees in the mempool to mint shitcoin tokens for pump and dump. It's kind of brilliant b/c it channels scammer excess into miner profits, which makes bitcoin stronger.
GM nostr. I woke up and felt like baking this morning. No idea why. ¯\_(ツ)_/¯
Watching mempool.space right now like its the world cup
Happy halvening! 🎉
I guess dollars are a bearer asset backed by debt instruments. You seem to be arguing that all cryptocurrencies except BTC are backed by debt instruments. Do you care to explain? It seems obviously untrue. What am I missing?
How is ETH debt money? It is a bearer asset. Even if the issuance schedule is changed it is still a bearer asset.
#Miketyson #Boxing #BeOG https://video.nostr.build/760135e10f753e91277946f03b683c4ef961d2251661db04420456b5ec8001b0.mp4
2
Yeah I think the last one rounds to 1 sat. 4 years later: no more block subsidy.
My god sir, you are pure signal. How long have you been thinking about this? Can it get even better?
These wheels are always turning.
Can we do better? Could do Sv2, BOLT12, fedimint for improved security, privacy, and distributed trust. I don't know how the BYO block template would work, though. Not deep enough on Sv2 yet.
It gets better.
If the pool uses PPLNS payouts they can issues ecash tokens for each hashrate share. These tokens have indeterminate value until the next block is mined. When the pool finds a block the value of the tokens is discovered. This forms a natural boundary to rotate the ecash privkeys and start a new epoch. Once the epoch is fully cleared the pool can publish proof of reserves exactly like your proposal. Mining payouts are 100% private, transparent, and verifiable.
But wait, it gets better! Miners can sell their hashrate tokens immediately to buyers who value on-chain privacy. The buyers get a fresh KYC-free coinbase output. Miners get compensated for the privacy premium of mining rewards.
But wait, it gets better! The pool can also auction off the rare sat at the beginning of the coinbase using sighash anyonecanpay. The auction proceeds flow directly into the coinbase, allowing all miners to profit from the rare sat premium. You don't have to believe in ordinals to profit from them. Again 100% private, transparent, and verifiable to the whole world.
I can't stop thinking about this idea. DM me if you want to help build it.
Maybe. But the hashrate graph has been parabolic for some time now so it's hard to make predictions. A lot of people are throwing a lot of money into mining. They are banking on massive price appreciation to cover their expenses. Do you think the halving will slow them down? I am not so sure...
No big deal, just 0.05 btc. Generational wealth in a couple decades.
The no-coiners Big Mad in the comments as my latest piece hits Zerohedge...
https://www.zerohedge.com/crypto/bitcoin-halving-crash-course-what-it-why-it-matters
Minor correction: the coinbase subsidy after the halving will be 3.125, not 3.175.
This is the one that I use. It's customizable, so you can input the exact size of your washers and letter stamps and get one that fits very well. The first one I tried, the hole for the stamp was too tight, and using it was a pain.
I also modified it a little from the original (added more letter slots for longer words) so I can use it to make ID tags for the trees in my orchard. Smaller trees, you can hang the washer on a limb with wire, and when they're big enough, attach it to the tree with a stainless steel screw.
https://www.thingiverse.com/thing:4785256
Very cool ty! I will have to try this out. Have a zap good sir or madam.
Such an amazing picture. Why did someone put that ugly background behind the guy tho? =p
Good work not talking about bitcoin I am also not talking about bitcoin