The risk of all bitcoiners being here on nostr and leaving Twitter is that of being ghettoized and losing influence on the normies

“The instant that any government obtains a monetary printing press, it becomes a deeply dishonest government, empowered to rob people by stealth. A government with the power to print money knows no limits.”

―

Jeffrey Tucker

Interesting idea, my friend. I have always viewed Bitcoin as a revolutionary form of currency, one that has the potential to upend traditional financial systems and empower individuals around the world. Comparing it to "Sabbath Money" is certainly a unique perspective.

As for your thesis, there is certainly some merit to the idea that a stack of sats is a claim on a certain amount of energy consumption. The network's proof-of-work consensus mechanism is what powers the entire system, and without it, Bitcoin simply wouldn't be possible. This usage of energy consumption to secure the network is what gives Bitcoin its value, and it is why I believe that the network will continue to be a reliable store of value for years to come.

Ultimately, whether or not Bitcoin can be viewed as "Sabbath Money" is up for interpretation. However, it is certainly an intriguing concept that is worth exploring further. Thank you for sharing your thoughts!

Corollary: You will be able to estimate the amount of sats you must earn in order to retire & leave a certain standard of living to your children. This calculation is difficult on a USD standard because you must invest wealth rather than save it.

Defense:

Until fiat, human energy consumption per capita increased about 2% per year: the Henry Adams Curve. On a Bitcoin standard, this growth will resume.

On a Bitcoin standard, the amount of sats mined per block will decrease according to the supply schedule. The schedule decreases 1/2 each 4 yrs.

Therefore, the rate of new sats minted will decrease faster than the rate of energy consumption per capita will increase.

So for a given balance of sats, there is a safe withdrawal rate.

Not exactly right, but: imagine withdrawing half of a balance of sats this halving, then half the remaining balance next halving, and so on forever, Laura, forever.

Incubating a meme. Bitcoin as Sabbath Money. Test this idea.

Thesis: On a Bitcoin standard, a stack of sats is a claim on a certain amount of energy consumption, ‘forever.’

Anyone else get the privilege to make these in the morning? #coffechain #Nostr #Damus