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Blue Collar Bitcoin
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Firefighters explore economics, finance & #Bitcoin (Josh & Dan shared profile)

Trying to change #Bitcoin's base layer is like a game of Whac-A-Mole — "fixing" one part often f**ks up another part.

#BTC is, in many regards, a Goldilocks technology.

nostr:npub1qg8j6gdwpxlntlxlkew7eu283wzx7hmj32esch42hntdpqdgrslqv024kw explains...👇👇

"There’s something unusual about Bitcoin. So, in 2013 I spent about 4 months of my spare time trying to find any way to appreciably improve Bitcoin, you know across scalability, decentralization, privacy, fungibility, making it easier for people to mine on small devices, a bunch of metrics that I considered to be metrics of improvement. And so I looked at lots of different changing parameters, changing design, changing network, changing cryptography, and you know I came up with lots of different ideas, some of which have been proposed by other people since.

But, basically to my surprise, it seemed that almost anything you did that arguably improved it in one way, made it worse in multiple other ways. It made it more complicated, used more bandwidth, made some other aspect of the system objectively worse.

And so I came to think about it that Bitcoin kind of exists in a narrow pocket of design space. You know, the design space of all possible designs is an enormous search space, right, and counterintuitively it seems you can’t significantly improve it.

And bear in mind I come from a background where I have a PhD in distributed systems, and spent most of my career working on large scale internet systems for startups and big companies, security protocols, and that sort of thing, so I feel like I have a reasonable chance if anybody does of incrementally improving something of this nature. And basically I gave it a shot and concluded, “Wow there is literally, basically nothing. Literally everything you do makes it worse.” Which was not what I was expecting."

Solutions to systemic problems are often layers deeper than most recognize.

“Mainstream economics research has mainly focused on discussing how to escape recessions, with very little focus on what causes recessions.”

nostr:npub1gdu7w6l6w65qhrdeaf6eyywepwe7v7ezqtugsrxy7hl7ypjsvxksd76nak

Principles of Economics

-#Bitcoin is bigger than you.

-Bitcoin is bigger than your opinions.

-Bitcoin is bigger than what you think bitcoin should be.

When a change u want made on #btc  doesn't happen, don't get butt hurt.

Nobody controls this thing. Consensus can be uncomfortable.

Deal with it.

Yep. Some are though…kinda nuts if ur needing to move right now.

Housing has gotten ASTRONOMICALLY more expensive in the last 3 yrs. Most are locked in, so much of this isn't felt....yet.

Median Mortgage 1990👇

$123k @ 10% = $1,240/month

Median Mortgage 2020👇

$309k @ 3% = $1,293/month

Median Mortgage 2023👇

$405k @ 7% = $2,549/month🤯

Bitcoiners are cut from a different cloth.

“Do you know that when #Bitcoin went from $17,000 to $3,000, 86% of the people that owned it at $17,000 never sold it?”

—Paul Tudor Jones (talking to Stanley Drunkenmiller)

Brush up on some FUD Busting in #Bitcoin Basics Series Episode #9

→#BTC Has No Intrinsic Value

→It Wastes Energy

→Gov'ts Will Ban it

→It's a Bubble

→It's Too Volatile

→It Can Be Copied

→Much more...

🎧 https://fountain.fm/episode/23kmw5iM9lwNZTPapIgC

📺 https://youtu.be/shtaavygfJk?si=AEjmwIXt0LljHGB9

Amazon box just showed up w/ 2 items in it.📦

1️⃣Broken Money by nostr:npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83a , hardcover of course.

2️⃣A children’s laxative.

Gonna be a weird night in this household.🤷‍♂️

The most outlandish display of overconsumption in the world today is hands down CARS. A huge % of people are under-saving in large part because of what’s in the garage.

We’re all about nice shit, but only if you can afford it.

Dare to be different & do some basic napkin math.

Shitty money is what creates business cycles.

h/t🧢 Ludwig von Mises

#Bitcoin  isn't just an asset or a protocol....it's a MOVEMENT — Go meet plebs.

Bitcoin Amsterdam Conference tix go up in price in 1.5 hours — shit or get off the pot you filthy European animals.

Code “BCB” for 10% OFF tix👇

https://b.tc/conference/amsterdam

Fuck. They’re here. nostr:note1vg2v5ku8gnqk923af5q8hkq5yd96plg78ldkymxuad5d7gka0j5ql8ehd2

Fast forward 40 years.

...The world runs on a #Bitcoin standard, and governments are largely uninvolved in influencing the supply & price of money.

What happens to interest rates??🤔