Bitcoin: "Coinbase Wallet - 1 good use case"

I am Bitcoin class of 2020 notching the Bitcoin Only status in 2021. But not before I fell for the scam coins and scammers. Including, Brian Armstrong. I watched and read everything on this guy, reading how he wanted to help out researchers via the 'blockchain', how Coinbase was brilliantly coded by etc. I even read "The Outliers" he recommended (not a good book in hindsight.)

Brian Armstrong (2020) was believable.

Until he wasn't, but not before I bought into the IPO of Coinbase at its still all time high, not before I listened to his CFO testify alongside SBF to Congress. How essentially Coinbase (read Armstrong) had nothing in place for finance anything before she got there. (It's all on C-SPAN if you want me to refind it.)

Never mind the senior counsel at Coinbase has a .eth in his X handle as he argues for shitcoins set to financially ruin their customers all for profit for them.

Coinbase is not pro Bitcoin.

It all bugs me, the people at Coinbase. Just like the people at "Bitcoin Magazine."

Bitcoin Magazine is not pro Bitcoin.

But regardless, I do keep a Coinbase Wallet with about $10 of Bitcoin in it, with my seed phrase carefully stored in my 1password account.

Just in case of a wrench attack, I can "act" like I am all upset as I turn over my 12 word seed phrase.

Of course, any Bitcoiner knows how idiotic doing this really is but not the ones who support Brian Armstrong and David Bailey.

I feel safe.

And I get to see the idotic things like this Coinbase is texting and emailing out to the customer base they don't give a crap about it.

This one irritates me because 'Ocean' is in here, never mind DOGE was up according to another notification they sent to their profit base:

*there. DUH

Nothing at all. Bitcoin is time for finances. NOSTR is time for social.

Organic growth is the most exciting. Dorsey really has resonated with me the last six months. Freedom of Will. Privacy. Etc. I want to support people like Dorsey and you with my precious time for life. Thank you. Like the early days of the Internet, their were millions of “this page is under construction” sites and ideas. Go NOSTR

Nice. My laser eyes are purple to back up what you are saying. Thanks for helping me get on here 18 months ago. I am trying to spend more time here and not X.

In my 35 year BI career I can count on one hand the female engineers. Same with female Bitcoiners I interact with in my fake online world? Why is IT/Bitcoin such a damn sausage fest?

Old school cool. This site is over 25 years old. I still laugh. I am going to Hell.

http://www.thebestpageintheuniverse.net/c.cgi?u=irule

David Bailey and Brian Armstrong are two of the worst Bitcoin Advocates on the planet.

Why don't most people $ee thi$?

Bitcoin: "The Asian EVASION"

TLDR: "Asia isn't getting the right Bitcoin information and education, huge missed opportunity."

====

I have watched many of the Bitcoin Podcasts out of Bitcoin Prague. As an American, I am totally saturated with my online, home schooled Bitcoin education. Proven by my not being overly impressed by Mallers and Saylor's presentations. It has nothing to do with them at all. It just has to do with, what has been said and what is being said today on Bitcoin. Starting with Satoshi, he ran out of things to say, even got frustrated at one point emailing:

"I can explain it to you but I can't understand it for you."

The most unanticipated reveal to me in listening to these recent presentations was in this one:

"The State of Bitcoin in the World — Jack Lee, Parker Lewis, Abubakar Nur Khalil, Rikki &Joe Nakamoto"

https://www.youtube.com/watch?v=XWDJLV6RFww

The reveal was down to one person, Jack Lee. Jack clearly explained why adoption is so tough in Asia, think China. For one thing, fingers point directly (again) to "Bitcoin Magazine" and how they hosted a "Bitcoin - Asia" conference. As Lee explained, it was mostly Crypto.

Asians, unlike America, are not getting the "there is no second best" message or the difference between Crytpo and Bitcoin (I am attaching one of my favorite images to explain it.)

So why is this?

- Most of us thought China 'banned' mining, they didn't

- China doesn't care if you hold Bitcoin as Property, it's a problem when it is currency and you try to take it (thus the - possible - Shanghai Bitcoin ETF will be an excellent onramp for the Chinese government and us - not necessarily the citizens.)

- If you listen (you should) to Bitcoin Mechanic/Giacomo (Dorsey funded Ocean) you know the Chinese (alongside American VCs like a16z) are funding the Ordinals/Inscriptions/Runes/Stamps initiative

- They also explain how the Chinese manipulate the ASICs and Pools

So, why isn't there more of a push, to push out "Bitcoin Magazines'" approach of BINO/Bitcoin Obfuscation (like Coinbase CEO Brian Armstrong does to)?

Easy. It's the money. It's so great, for them, keep the people thinking there is a second best as their customers lose their money and then the government can say, "see, we tried to tell you?"

No you didn't, it's about you, you all know Bitcoin is the best but you can make a ton of money off altcoins and you know they are zero threat to your money machine or any government (read politicians) anywhere.

I wish BTC Prague or Swan's Pacific Bitcoin could go on a true/blue Asian tour.

One problem, the Chinese government may not like the truth on Bitcoin?

Satoshi NAKAMOTO picked an Asian name, I wonder why, it's sad if he was Asian and the adoption is so poor. Let's make him or her proud of choosing Asia and Bitcoin.

Bitcoin. For everyone. The People.

Special thanks Jack Lee wherever you are, we have three Jacks now:

Jack Mallers

Jack Dorsey

Jack Lee

This post dedicated to Asian people everywhere, a huge hobby of mine is cooking, I cook all various regions from Thai, to Vietnamese, to Japanese, to Chinese.

I love all your food so much, I tell people I am ASIAN because of your food, I sort of am, Cauc-ASIAN.

Much Bitcoin love to all of you Asians.

Maybe you can fix stupid?

What if someone on here came up with new altcoin called Ethereum 2.0? (think BTCSV etc) and market it as:

- We made a mistake we realize POS isn't working and POW is best

- It will help in mass adoption

- We can reuse the RoadMap

- Vitalik can still act like he is in charge

- You Upcycle by using existing Mining/Pool infrastructure (No need to have 32 ETH in order to be able to mine)

- Truly Decentralized

...but there is one tweak to the RoadMap, Ethereum 2.0 actually points to and is purely Bitcoin, ETHSV?

This would fix stupid?

"Bitcoin: HEAT is COOL and COOL is COOL"

Byproducts can super useful and a side business for profitability.

Famous Byproducts:

SAWDUST - from making lumber

STRAW - from harvesting grain

WHEY - making cheese

One of my favorite quotes from mining bitcoin is: "Bitcoin doesn't waste energy, it uses waste energy." Bitcoin mining unlocks some more of the Bitcoin bricks, every ~ 10 minutes, in a Bitcoin house made up of 21,000,000 bricks already built.

Like the Wizard of Oz, the curtain lifts a little bit more every during those new blocks, some of which is made up of simple code, the halving is simply 6 hard coded lines.

During the mini Bitcoin reveal parties where there is always the same one color, orange balloon, there is always a byproduct to the curtain pulling effort. Heat.

This Bitcoin byproduct of heat, is heating Bath Houses in New York City, to pools and floors all around the world.

But it's freaking hot in the desert, like the Sonoran desert of Phoenix, Arizona, or Dubai hanging out in the Arabian desert.

They don't need heat, they need cool, so is anyone working on that part of the Bitcoin Mining giving back Rabbit hole?

Note this "Nature" article:

https://www.nature.com/articles/542023a

News Feature

Published: 02 February 2017

"How heat from the Sun can keep us all cool"

XiaoZhi Lim

Nature volume 542, pages23–24 (2017)

As demand for air conditioning climbs, some see a solution in the very thing that makes us sweat: the Sun.

"The gas-squeezing step is needed because to shed heat outdoors efficiently, the refrigerant must be very hot before it goes through the condenser, explains Colin Chia, co-founder of the Singaporean company Ecoline, which developed Hotel Star Sapphire’s air-conditioning system. In electrical units, this is done mechanically. But there is another way — simply using heat.

One of the oldest air conditioners to be built on this principle burned wood to supply the heat and was introduced at the World Exhibition in Paris in 1878. It was “a marvellous old machine”, says Christian Holter, chief executive of SOLID, a company in Graz, Austria, that specializes in large-scale solar-thermal cooling and heating systems. Called absorption chillers, the devices use heat from the Sun to boil the refrigerant out of a solution — typically water from a salt solution, or ammonia gas from water. Then the gaseous refrigerant goes through condensation and evaporation stages similar to those in compression systems (see ‘Two ways to chill’)."

My Open Ended Conclusion:

One of the first Air Conditioners (Paris 1878) was wood burning. Why can't we heat and cool things from the same Bitcoin mining HEAT byproduct?

Making a Bitcoin Mountain out of a Mt. Gox Molehill.

Mostly a nothing burger because of two words, "In Kind."

Bitcoin will move from a terrible custodian to hopefully the best custodian, individual Bitcoiners or the 'Flavor of the Bitcoin Month next best Custodian.'

Think of Bitcoin as food. What if there was one scarce dish, only 21,000,000 to feed Billions of people?

It comes down to worldwide consumption and two charts for me.

1) The total amount technically possible to Consume, $900T (Jesse Meyers, @croesus_BTC, update BTC today over $1T as it eats into the $900T)

2) Best Asset Class 8 out of 11 years? (All while, anyone in the world benefits from Bitcoin Pad Thai or Bitcoin Pho or Bitcoin Pizza or Bitcoin Pasta or Bitcoin Cheeseburgers)

Old School: "History Repeats"

New School: "History Rhymes"

I am old school. History Repeats not Rhymes, look at these three examples, any others worth noting?

Medical: 1930s

Economics: October 30, 1978 (Nashua Telegraph)

Political: April 1890 (Attica Kansas )

"Inscription"

Snopes: TRUE https://www.snopes.com/fact-check/grave-statement-2/

Incredible presentation by Jack. I need to follow his lead. Jack has taught me:

- How empty our online existences really are

- How so many take from us and it isn't worth it.

The solution of being Minimal, Duplicate, and Trust and Verify is packed full of genius.

Thanks Jack, I will do better, to support Open Source, being permission-less, posting more on NOSTR etc.

Your solution on your phone with the apps was so easy and so smart in hindsight.

nostr:note1yne30r0q8608w4wgzzn4melykr94j7krwwsyz9yf40sl207282kq62jgrg

Bitcoin has allowed me hope on two fronts:

1) Interest in anything Economic

2) Renewed Interest in Social Media (NOSTR)

I have two throw away accounts left on Social Media, one on X and one on here. Sadly, I fell for the Blue Checkmark and paid for a year so I feel I have to 'get my value' out of what I paid for but it's a terrible online existence. Exactly like I felt when I left FakeBook in 2017 and LinkedIn in 2022. Super empty.

I want to help here, especially on the development side but I struggle with people not adopting Ocean and adopting (via complacency - non action is adoption) Spam.

Now cancelled Scott Adams was a genius whom I respected and admired as he helped me as I suffered inside Corporate America for decades.

"12 Word$"

Did I miss the big Trezor announcement in Prague? If it is their new hardware wallet I don't get these things. I am a huge fan of Dorsey and his hardware wallet. But iIt is a Billion dollar business.

My take, I simply went with the cheapest "seed signer." I got my 12 words. No matter how glamorous or expensive or marketing you make it, you are paying for 12 words.

So, my 'old' Jade sits and gathers dust and I don't care if I ever touch it again at this point.

I think we are in a bit of a lull with Bitcoin price for one reason, people like me.

As an old three decade data/analytics guy, I am not impressed by many of the sexy charts showing the ETF or Power Law analysis or comparing to the past trends (i.e. before the ETFs).

It comes down to my strategy and I think there are a lot like me.

A few years back, I was done, with my Jade. I 'had enough ' and wasn't going to buy anymore Bitcoin. I am a Smash Buy Guy and it's too putzy and boring to do DCA.

Then FTX etc. The Drop. I just shook my head, dusted off the Jade, doubled my stack.

I am at the same point now. I am done stacking. No need for greed.

However, if people are dumb enough to let this thing drop down to $16k again....then I will...dust off the old Jade. "IF... THEN ...ELSE" code and RTFM has made developers Billions in income, until AI?

Until then, no need in the future to get Jade 16.0 or Block .37 Or Trezor A56AB with an HD camera/xQR (made up) code/Starlink enabled/Laser Pointer/Lighter for "only" $512.

I have my 12 words in my 'tight' UTXO(s).

It's exhausting to me.

I am a psycho?