Oddbean

Bitcoin doesn't need governments to win. It doesn't need governments to stack it. It doesn't need to ask for help. Instead, the bar is much lower. Bitcoiners, in their preferred jurisdiction, would benefit by not being hassled by their government. They'd like to be able to buy it without problems. They'd like to be able to pay for energy and equipment and mine it in peace. They'd like be able to write open source code without facing legal problems. They'd like to be able to operate reputable businesses related to it. If they can't, then some of them will move as necessary. It's helpful for the ecosystem to have non-hostile jurisdictions in the world. And for those that can't move without great sacrifice (i.e. most people), it's helpful for them that whatever jurisdiction they are in, is non-hostile. So it's good that bitcoin is getting into the Overton window. The industry has some power now. Bitcoin benefits from builders and educators and advocates. It benefits from those who do their best to prevent the worst legislative outcomes against self-custody, against privacy, against running a business, against mining, etc. But Bitcoin doesn't need to pander to them to proactively support us, and bitcoiners should recognize the sliminess of politician incentives when they come to pander to us. While it's in their best interest to build national reserves if they actually figure this thing out, we don't need them to build reserves. I think that's the helpful line. That's where the signal is. To the extent that we minimize how much we are tread on, and build multi-national accepting footholds to pivot around, we gradually build what we want to exist. We ask to be treated fairly, we use our resources to help ensure that we are, and to the extent that we are not then we adjust as necessary.

Totally agree. What I'd like to see from people in positions of power: 1. humility regarding their level of understanding bitcoin 2. put in the work to grok it 3. commit to getting and staying out of the way. Not that difficult. nostr:note1n24e8mln7f8nslypw90wkhdzrstufx7m6w3ezsmk527wpvaql9yqtzte0r

Nah, sometimes the government gets in the way even in terms of moving bitcoin privately non-custodially. In many recent rulings they've defined moving non-fiat assets that they don't issue as monetary, and thus subject to their various monetary laws. They've got guns. That's in the West, let alone authoritarian places. So it's important to work around them or get them less hostile to you where possible, or move to friendly jurisdictions. You would do well to educate yourself more on this subject prior to commenting. Stay humble, post less.

In this case, should we not agree with Snowden and introduce anonymity features into bitcoin? I think that's what he said "he's been saying for 10 years and ignored for 10 years". Unless we have anonymity, we can only develop so much. It's also consistent with antonopoulos "sewage rat" evolution theory where bitcoin needs to be threatened in order to develop the necessary antibodies to resist?

> post less. nostr:nprofile1qqsw4v882mfjhq9u63j08kzyhqzqxqc8tgf740p4nxnk9jdv02u37ncpz4mhxue69uhhyetvv9uju6mpd4czuumfw3jsz9nhwden5te0wfjkccte9ec8y6tdv9kzumn9wsq3yamnwvaz7tmsw4e8qmr9wpskwtn9wvql3tqm joined nostr for "free speech" but when it arrived she wasn't prepared.

Yes. And therefore Trump’s speech was fantastic. The fact that he thoroughly emphasized his committment to create a friendly environment for businesses and builders in all industries, including the #bitcoin industry, and that the rules and regulations would be created by people who love the industry, is much more important than a national bitcoin treasure.

Yes. But that is not the strategy that is scalable to ordinary bitcoiners like me. I’m just a freedom loving guy who lives in a context that is ACTUALLY influenced of what policies that are put in place. It is totally possible for the USA to become Venezuela. In fact it is probable if the communist Kamala Harris becomes president. If you don’t mind that, then you don’t mind. I mind, as a lover of civilization and freedom. And as a bitcoiner.

you can't influence which communist will be in power. that's delusional, and I'm not saying it because I would like to mock you. even if you have 100 followers and you convince 1% of them, it won't change the outcome. you can influence what you do. learn the cypherpunk strategy, it works. https://hackyourself.io/2024/06/10/cypherpunk-past-present-and-future/ https://hackyourself.io/2023/12/06/welcome-to-the-dark-forest-a-pathway-to-resistance/

The self annointed ”TRUE BITCOINERS 😇” who are lecturing the others not so true bitcoiners about how stupid Trump is and how he doesn’t understand #bitcoin the way #RFK does.. please consider the following: 1. Bitcoin demands vast amounts of energy. 2. Trump clearly understands this and have very credible thoughts about how to get to the enormous expansion of energy generation that is needed to be successful in bitcoin and AI. 3. RFK HATE nuclear power. And he is FULLY on the #climatescam and is not positive towards expanding the ”drilling”. So he has NO credible plan for expanding the energy generation in a way that is sufficent. With that in mind: Who of the two REALLY understands #Bitcoin ? #TRUMP or RFK?

both are politicians, not interesting to bitcoiners if you got what @LynAlden just said. Bitcoin does not need miners in America, nor expansion of energy production. It's the other way around - miners find good energy opportunities around the world.

In fact, vibrant bitcoin mining is a sign of poor decisions in the fiat energy realm. Cheap/free hydro in SE Asia is because of centrally planned projects, cheap on-grid in Texas is due to renewable subsidies deployed creating supply/demand disconnects through ERCOT. Alternatively, if a country’s energy policy reduces waste and lowers red tape, then that energy will be used for more valuable applications than bitcoin mining. Bitcoin mining is the energy buyer of last resort, geographically agnostics interruptible demand. The most profitable miner will consume only waste, curtailed, stranded energy…not compete with other productive demand applications.

True to some extent, but nuance will change the picture to some extent: - you can't scale the production continuously in industry. You can allow other productive use by building a power plant. Bitcoin is the buyer of first resort in this case, allowing other production that would not otherwise happen. - combined with energy futures, it's the best regulator, allowing the energy to be cheaper. Overproduce base load that will be consumed by miners, but incentivize them with futures to turn off the machines. It's cheaper than producing expensive peak load. This lowers the prices for productive use. Energy is complicated.

Energy is complicated but bitcoin mining isn’t as much. The difficulty adjustment will lead to the pursuit of energy increasingly cheap then free then eventually paid to the miners. This type of energy isn’t found in GW scale but single/double digit MWs or hundreds of kWs … and it isn’t found in any single country. Mining will decentralize in chasing this type of energy source or it will fail. Pretty simple.

disagree on this. if governments make it illegal to transact bitcoin, it will be a risk too large for most to handle. most do not have the international suave to move to a crypto friendly country look at how the world changed with COVID, the world had a life saving vaccine in record speed injected with little to no resistance and everybody sacrificed there freedom in order not to spread the disease making bitcoin illegal will be a peace of cake compared to that.

Of course but my point was that they can make it illegal as you said but it won’t stop it being adopted by those that value it. And how’s their war on drugs going and how did the war on terror work out for them? I wish them luck since I’ve been within the space I’ve seen every kind of attack and non have succeeded.