"Closing this for now, because it is not ready yet, and I might have taken the wrong approach"
https://github.com/nostr-protocol/nips/pull/1696
cc: nostr:npub1uwh0m2y8y5489nhr27xn8vkumy8flefm30kkx3l0tcn0wss34kaszyfqu7 for hamstr
I'll take a look at it.
Of course you can.
This note, signed by my private key is 100% digitally scarce. That doesn't give it value.
Or better yet, the very first note. It was digitally scarce. No value.
Now, perhaps you, me and others here agree that nostr is better than X because of this ability to have digitally scarce social media postings. It now has value.
It has value because we all agree it has value.
An influencer on X however may not agree that it is valuable to have such a thing.
Proof of work was an idea, it is also in Bitcoin 's code, made up via code.
Make no mistake, Bitcoin has value because we agree it does. NOT because some guy or company spent energy mining it and securing it. Proof of work/mining help people feel good about using it. A more sound money helps people believe in it, and give it value. Nothing more.
Henry Ford suggested this a century ago. Using electricity markets and cost for a new monetary value system. It was around in other times as well. It isn't Bitcoin which created it or the idea.
That's the stupidest, philosophical shit I have ever heard. Imthis is the kind of crap that keeps normies away. Way too cult like.
Bro or bros wrote code based off past projects and adapted/wrote new code to make the protocol. It isn't oil, it isn't the globe, it's code. Amazing ideas and code, absolutely. Discovered? 😂
In your sense, the IC engine wasn't invented, they just figured out the right combination of things to make it work.
The wheel and axle wasn't invented, they just unlocked them discovered the proper radius and spindle connections.
Bitcoin was invented. Bitcoin is merely an idea and network that solves problems. A product.
Does bunker not actually work yet? Created a new bunker in amber, connected fine, read my amber key(according to amber), but then following.space never actually logs in.
A key problem currently however is that vc's, mergers, stock offerings and regulations are massively clouding the mining space. It allows for mining at unsustainable costs for a given time. This won't last. Only then, will free markets play out.
Seperately, how is a reserve of bitcoin be a net negative to the network? I don't understand.
Since states cannot print their own money, I don't agree. Most states have a Treasury, retirements, investments, and so forth. The state of Arizona owns gold and silver and copper and some other things already. Holding a portion in Bitcoin is great for a state.
I do not want however the Federal Government to print money to buy Bitcoin.
It's dead for the session. They are now only working on budget bills.
The session ends after budget, then behind next January anew.
Yes, by a 3/4 override. However they passed with only a slim majority.
AZ Dem governor Katie Hobbs just vetoed the Arizona bills on digital assets and state Bitcoin reserve.
She's the worst.
I'm 2000, we spent $304B on defense. That's about 560B today. Why in God's name are we talking about double that amount it was in 2000? Insane
It doesn't really matter. Congress will pass whatever omnibus monstrosity they want,the will sign it, they will increase the debt, pay more in interest, and remove the debt ceiling again.
We will soon be well over 1.1 trillion in interest. This is not the way for a country to survive or be managed, cherry picked or not
It's not a lift of their ban. It's part of the judge's ruling in the epic lawsuit.
Haha. Yes, I did. So I cannot speak of others experiences.
Yep, use wires all the time in my business. But why?
A wire is a direct final settlement, akin more to Bitcoin. Zelle takes a split second. As does PayPal, Cash app, Venmo, and so forth.
So again, how are regulated stablecoins helpful with and by Americans?
You have all the downsides of American banking, plus major issuance risk and centralized control over the block chain.
Unbanked is a myth americans. They are people who chose not to be banked.
94% of Americans adults have a bank account. There are not tens of millions of aduktd in the US that are unable or blocked from getting bank accounts.
If you were though, you can damn well be assured you will be blocked from getting a private and regulated cdbc.
This is a discussion about wanting and using regulated stablecoins. So yes, KYC aml betting.
Most people would likely keep a 50% ltv max with Bitcoin as the backing collateral. Otherwise you are correct, you play a dangerous game of liquidation on a sharp decline day or week.
Curious where you got that cost from?
A 2023 CNBC article had much higher:
"Instead, the surge is concentrated in the Permian Basin region of Texas and New Mexico, where production costs are among the lowest in the country, said Alexandre Ramos-Peon, head of shale well research at Rystad Energy. Oil from the Permian Basin costs an average of $42 a barrel to produce, he said, with North Dakota in the high $50s to $60. "
I imagine the cost to produce has only gone up a bit in the past 1.5 years with labor costs, but I have no idea.