#Bitcoin is never before seen technology. There is nothing to compare it to. It is a different phenomenon. The immutably finite supply *alone* drives demand. People are surviving on this technology. The programmed increase in scarcity/value will only attract more people as other assets collapse in relation.

It gets more expensive due to a programmed disinflationary supply issuance. Nothing else has an immutably inelastic supply.

Simple #BITCOIN explanation for friends and family:

A Rolls Royce takes months of power to build. A Toyota takes minutes.

Each bitcoin has a cost of production. It took ENERGY to generate. This cost is programmed to get more expensive.

It takes work and energy to mint a bitcoin.

It takes zero effort to print fiat dollars.

That is why the USD is down 99% and bitcoin is up 14 billion percent. Simple.

I'm trying not to go that far! I don't have a problem with Odell, I just don't like the ALLCAPS in my feed lol

No matter what I do Twitter insists on showing me Elon's Tweets.

No matter what I do Primal insists on showing me Odell's posts.

Llama 3.1 405b summary:

The paper "On the Instability of Bitcoin Without the Block Reward" analyzes the potential instability of the Bitcoin network when the block reward, which is the primary incentive for miners to secure the network, dwindles to zero. The authors argue that in a transaction-fee-only regime, miners may deviate from the default protocol and engage in deviant mining strategies, such as undercutting and selfish mining, which can harm the stability of the network.

The authors identify three phases of deviant mining behavior:

1. Petty compliant: Miners deviate from the default protocol by mining on the block that leaves the most transaction fees unclaimed, rather than the oldest block.

2. Lazy undercutting: Miners intentionally fork the chain to "steal" transaction fees from other miners.

3. Aggressive undercutting: Miners optimize the tradeoff between maximizing transaction fees and minimizing the chance of being undercut by other miners.

The authors also analyze the impact of selfish mining in a transaction-fee-only regime and find that it can be more profitable than in a block-reward regime. They propose an improved selfish mining strategy that takes into account the value of the block being mined.

The paper concludes that the block reward is integral to the stability of the Bitcoin network and that a transaction-fee-only regime may lead to instability and harm the ecosystem. The authors suggest that making the block reward permanent, as Ethereum does, may be a small price to pay to ensure the stability of a cryptocurrency.

Key findings:

* Deviant mining strategies can arise in a transaction-fee-only regime.

* Selfish mining can be more profitable in a transaction-fee-only regime.

* An improved selfish mining strategy can take into account the value of the block being mined.

* The block reward is integral to the stability of the Bitcoin network.

Overall, the paper highlights the potential risks and challenges of a transaction-fee-only regime and the importance of carefully designing the incentive structure of a cryptocurrency to ensure its stability and security.

If this is true bitcoin will fail. nostr:note1z0tre0e69tykk4e9lf52rqll3etfwg5qpedm9qkjjdz4x0l22flqgl3fe2

Lol what?

There's no hard facts chief. Those hard facts you claim was reached from consensus that's defined over centuries. 50F has little to no bearing to anyone using the metric system. .

These are not hard facts. Even physics "hard facts" likBbe Gravity is reached by consensus. Newton didn't come out swinging with facts.

That's just not how "facts work"

That's like saying there's only one truth. Even science has consensus, not these so called hard facts you claim.

What's intellectual bullshit is you not understanding this. Even community notes are consensus public facing so that "fact" can be reached via community consensus.

They do. Virtually every instance of confirmed voter fraud in the last 20 years has been carried out by Republicans, or individuals supporting the Republican candidate.

those darned republicans, committing all the voter fraid!

Show me evidence of fraud that has impacted the results of any election. For all the self-serving ranting about voter fraud by Republicans, virtually every instance of voter fraud in the past 20 years has been perpetrated by Republicans. The fact is, voter fraud is exceedingly rare, and has never affected the outcome of any election. But when it does happen, it's the people screaming about the loudest. Blinding hypocrisy.

This is a perfectly normal cloud.

Number of nodes is irrelevant for control. It's actual (not fake) economic activity on the nodes that determines outcomes of forks.

GM Bitcoiners...

Umbrel supports an insideous shitcoin used as barter and pretending to compete as money, that has hard forked 15 times and pretends to magically give you privacy, and...

Parmanode is Bitcoin only, with easy to follow code that you can learn from. It also has a tool that lets you import your Unbrel external drive and make it work with Parmanode, no need to resync the timechain.

Act accordingly.

Tbh I never really understood having one or two drinks. Either get drunk or stay sober. 2 drinks is just giving yourself a headache for no payoff.

Hello, just joined today. Looks so much more open and has much more future potential than any of the other platforms. Hopefully it doesn't get to the point where people report stuff just because you don't like what they said. Not allowing for the bad things though.

Gm. Plebs are the signal 🫂💜🤙