Oddbean new post about login | logout I said the the free market will solve the "security budget" and crypto twitter lost its collective mind. Amazing.
Twitter is full of brainlets. Spend more time on #nostr
Crypto is a project, not an economy. It doesnt have to care about human factors and systematic problems because it has one simple use case. When they become bigger, they will see the human factors growing and this is the limit. Because only Bitcoin can be sustainable with the immense social scaling that is required to be an economy. nostr:nevent1qqsyg9qlasm0xgaarmexckk08qp4zm5zwcjeydjxqvuets769fu58fspz3mhxue69uhkummnw3ezummcw3ezuer9wcpzqzgz2jqp5l5w2zzmqtn3zc30phap4p2sxjf67fr25s40pr67f5klqvzqqqqqqy6le6nw
Deep down, what will keep #bitcoin alive is a sense of cooperation, not greed.
Statists (shitcoiners) love abstract power hierarchies and appealing to authority. In their worldview there’s no way emergent phenomena determined by a free market / nature could ever be better than some central authority backed by sophisticated reason and logic. Kind of interesting because the normie archetypes / middle of the bell-curve might be selecting against themselves as we enter a new meta of personal responsibility, proof-of-work, and meritocratic/naturalistic means of determining hierarchical structures within humanity. Ironically, they’re proving their inadequacies as potential genetic candidates to propagate themselves into civilization’s future by subscribing to such malignant and archaic belief systems. That’s a long-winded way of saying: HFSP.
Most think too plainly Ideas: Socialist society = has plan in place everyone is focused on said plan therefore we must have plan Capitalist society = no plan at all ERMAAHGAWD everyone is running around doing whatever the hell the want!! the travesty , the horror, think abkut the children!! Reality Socialist society: forced into the plan the someone else came up with even when you think the plan is stupid and not going to work you must be a good little slave and chig along for " the good of society" Capitalist society: many plans all at once; everyone takes care of their own problems by their own accord without forcing anyone else to participate in their ideas, mutally aligned plans consolidate without coercion
People who say the word budget in reference to Bitcoin have a FIAT socialist mindset.
Security budget includes the lever of hashing, the raw energy input requirements, and the tendency to monetize wasted energy which decentralizes the miners. But don't forget about the difficulty adjustment! A PID controller, carving a path through time, space, and matter all over the earth, alive and growing stronger, paying humans to ensure it.