Core will begin work on BIP360 Qramp etc. while Knots continues shrieking about their work on the digital equivalent of erasing dirty words written on dollar bills.
The Congressional Budget Office expects about $20 trillion in net new federal bonds to be issued over the next ten years (cumulative deficits). This assumes that 1) interest rates will be lower than now and that also 2) there will be no recessions during that time. If either of those scenario are untrue, bond issuance is likely to be higher than that.
In comparison, at current production rates and prices, about $2.5 trillion worth of new refined gold is expected to be mined over the next ten years. Production can go up a bit, but gold production changes are generally pretty slow within a given decade, especially with current capex. However, price could change a lot depending on how much capital wants to flow in/out.
Finally, at current prices, about $70 billion of new bitcoin will be mined over the next ten years. The production rate cannot materially change due to the difficulty adjustment, but of course price can change a lot depending on how much capital wants to flow in/out.
Anyway, my April newsletter is out and touches on this concept: https://www.lynalden.com/april-2024-newsletter/
$20 trillion ... meh
What I heard was that Navalny was a fun guy who just wanted freedom and fun for everyone and that he wanted to become supreme leader of Russia for fun, for goodness, and for truth (kinda like Zelensky). I also heard that everyone in Russian politics is pure and wonderful except for Putin and anyone who doesn't condemn him.
Moved and lost by whom? ¯\_(ツ)_/¯
Perfect reason for CIA supported "opposition" to assassinate Navalny.
Why would Putin kill Navalny? Why wouldn't the CIA kill Navalny? ¯\_(ツ)_/¯
Translation: "Our plan to use AI to dominate humans. Please bio-identify yourself to the eyeball scanner oracle atop the pyramid in order to receive your computed portion of life points".
It's a cool protocol, and decentralization is an important tool to have available - for certain business models, for anonymity/security/privacy, etc. Nostr makes developing resilient, censorship resistant kinds of applications and services so much easier than the current web. But for most *users* the underlying protocol is secondary to the service offering. Is there a Nostr equivalent of Fiverr? Amazon? EBay?
Maybe. But the easy way for centralized web platforms (Fiverr/Ebay/Amazon) to compete against decentralized Nostr services right now woukd be to simply accept BTC as payment. Likewise zaps, Lightning & BTC seem to be the main drivers of Nostr user adoption for the time being just as, once upon a time, "graphic images" (ahem) drove HTTP adoption.
¯\_(ツ)_/¯
Gfy France. Same for Netherlands, Belgium and Austria.
🇪🇺✈️
France to seek minimum price for flights in Europe
France will seek support from other European Union countries for a minimum price on flights in Europe in a bid to reduce the aviation sector’s contribution to climate change
https://www.euractiv.com/section/aviation/news/france-to-seek-minimum-price-for-flights-in-europe/
They don't even know what CO² is but they are going to control it by taking your money to use for their own special putatively "carbon neutral" lifestyle. They will do the same thing with meat.
Seems oddly bait and switch given RFC6979 advises to use deterministic nonce (which secp256k1 has ecdsa support for and Coldcard Mk4 uses?) while folks are trying to redo nonce impl’s for Schnorr signing because DN
https://github.com/randombit/botan/issues/2939
https://github.com/BlockstreamResearch/secp256k1-zkp/issues/172
https://github.com/bitcoin-core/secp256k1/pull/1140
Btw can also do deterministic build of Coldcard firmware and flash
Quality post! 😯
True, but to be fair they probably mean risk of "catastrophic loss of access" or something ... To me if you're not spending your stack, it's better to keep it offline & in totally cold storage - multisigs in stamped steel in various vaults or something. It's also good to keep a small amount in a poem in your head.
It would be strange to think of the USD as reflecting the "energy spent" on producing it, since this would make it simultaneously nearly valueless in one sense (money just mouse click away), and highly valued in another (the electricity, the labor, social capital, education, technical knowledge infrastructure, markets & networks that support the "full faith & credit of the US Treasury" don't come cheap).
The way some people describe it, hashrate and levels of energy expenditure are more a representation of the security, resilience, & technical capacity of BTC network infrastructure: (i.e. network health) than anything else.
The real cost of hashrate (computational & electrical power) needed to run a technically elegant & super efficient market for commodity money, seems like an emergent (or latent) derivative market of some kind - with BTC's difficulty adjustment auto-arbitraging the whole thing through code 🍄🤯
Or not 🤷
Try it. At least to start, your BTC2 nodes/network won't have the same hashrate, so the coins won't be very difficult to mine. But it won't be easy for BTC2 to resist the «privilège exorbitant» of BTC, its "network effect", & first mover advantage.
Just my 2 sats worth.
Can we buy "Broken Money" on nostr using zaps⚡? I hope by the time the second or third printing (or even a second or a "post hyperbitcoinization" edition) comes out it'll be trivial to do. Great work👍🏻