"Keep doing what you're doing now, you're on the right path"

Fountain would be perfect if it did video.

In 2140, when celebrating the first block with a zero subsidy, we'll have a hard time talking to the kids after a visit to the history museum:

"Daddy, what is fiat money?"

"There used to be a time when the world had 180 currencies, each one of them printed with zero effort whenever a government would need to pay a bill.

Every nation state had its own little set of banknotes with individual coloring schemes and cute logos. That made them very proud.

The emission schedule was unpredictable with a potentially infinite supply. The purchasing power of each currency was always going down, just at different speeds.

Each currency could be used only within defined geographic zones.

Exchange rates between those currencies was volatile and used to change every second, which made trade risky and complicated.

People were encouraged to spend their money instead of saving it, even it that involved getting into debt."

"Daddy, that sounds really retarded. Why was it like that?"

"I really don't know. Serious people at the time used to think it was actually a good system. Let's ask grand-dad. His grand-dad used to be alive then. Maybe he can explain us."

The presentation deck is fantastic as well

Can be re-used as long as we give credit to nostr:npub14hn6p34vegy4ckeklz8jq93mendym9asw8z2ej87x2wuwf8werasc6a32x

nostr:note1d3yuk6yx22y0ataanhxqxm2uen0wdgvygam0tzpy5yj6ryfn3fuqnuqkx7

Thanks!

I love it. Where did you find this?

Gresham’s law: people tend to spend weaker money and hoard the harder money.

➡️ Therefore the harder money is not much used as a means of payment. However it is used for savings.

Thiers’ law: at one point, weaker money is losing its purchasing power so fast that merchants stop accepting it and prefer being paid with harder money.

➡️ Harder money then replaces weaker money as a means of payment.

A quote that struck me while listening to Audible last night:

"People have historically been willing to deal with weak money if it’s faster than gold, but if weak money doesn’t even have a speed advantage relative to harder money alternatives, then in a world of widely accepted bitcoin it would likely become harder for governments to convince their people to accept fiat currencies for payment and hold large amounts of value in them.

Gresham’s law dominates until the weaker money is basically useless. At that point, Thiers’ law takes over, which observes that good money drives out bad money.

A payee generally wants to pay for goods with weaker money, and a merchant generally wants to sell their goods for stronger money.

If a weaker money gets bad enough that merchants won’t even accept it, that is when Gresham’s law gives over to Thiers’ law. ”

Broken Money

Lyn Alden

Had been waiting for someone to make this meme! 🤣 I think about that everything I watch the movie

Oh that's fun, you can see the genesis block on mempool.space

https://mempool.space/block/00000000839a8e6886ab5951d76f411475428afc90947ee320161bbf18eb6048

This is a fantastic list!

Wrath of Man (classic Statham action)

Crank (unusual Statham action)

Taken (classic Liam Neeson action)

Mad Max Fury Road (pure truck action)

Assassin's Creed (15th century parkour)

"Consequences do not exist until they are felt"

Take a tour of a Gridless site in Kenya.

https://youtu.be/1v7Q6SD3wjc?si=o4B8Fuy2N7bB6XnG

Destroying data from an already trained LLM... will ChatGPT behave as if it had Alzheimer's or Creutzfeldt-Jakob disease?

Tobacco was introduced to China by the Portuguese during the 16th century.

It was actually considered as a medicine (!).

People would sniff it out of small bottles. Emperors would collect those bottles and it became cool in China to carry around a snuff bottle.

(they do look cute)

I feel like visiting a history museum today

Heard about this for the first time while reading nostr:npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83a's book.

I can't believe I missed that news last year! OTEC makes so much sense.

https://bitcoinmagazine.com/business/bitcoin-unlocks-ocean-energy

On fire 🔥

I invited Little Regulator because I thought it was the only one with no friends and it must be lonely for Christmas.

But then it sued everyone and ruined the dinner.