We really need to quote in sats
People should have in mind “i can have 1600 sats for 1 eur” instead of “i will never afford one bitcoin 🥲”
Unit bias is enormous. Yesterday bartender pretty convinced just asked but “i can’t afford one”
And the first thing is people don’t think it is divisible so that they actually cannot buy it.
But then when you say they can, they are oh ok but you have lost part of the battle because they still have anchored in their mind that they should have one
Everyone can afford one sat. Sat is the smallest unit you can exchange. It is the standard.
Why is it that if i have to wake up at 7h30 and wake up during at 3am, i always manage to fall back in the deepest and best sleep approximately at 6:45?
La vie est plus vaine une image
Que l’ombre sur le mur.
Pourtant l’hiéroglyphe obscur
Qu’y trace ton passage
M’enchante, et ton rire, pareil
Au vif éclat des armes,
Et jusqu’à ces menteuses larmes
Qui miraient le soleil.
Mourir aussi est ombre vaine
La nuit, quand tu as peur,
N’écoute pas battre ton coeur
C’est une étrange peine.
P.J Toulet
Fitzgerald, in the beginning of The Crack-Up (a beautiful book available on the site of Esquire, where it was first published)
“Before I go on with this short history, let me make a general observation—the test of a first-rate intelligence is the ability to hold two opposed ideas in the mind at the same time, and still retain the ability to function. One should, for example, be able to see that things are hopeless and yet be determined to make them otherwise”
People in the western world don’t get bitcoin because they don’t understand how much money is debased : ask them how many dollars there is today versus 1960, after telling them there is double the numbers of Americans. Then tell them the truth, 100 times more. Then they have the first seed to understand
I guess in kind means the market maker of the etf (the ones that post bid and offers continuously during the day and have the right to redeem shared of the funds at eod) receive bitcoin when they redeem. While in cash would mean they would receive cash based on a bitcoin price (i don’t know what they would use as ref, risk of manipulation). In kind is the obvious reasonable thing
It’s a pump for ants!
Bitcoin will be > 1 mio in 10/15 years
It’s a revolution not a trade
Lower your time preference and you will be rewarded
You will never sell, you sell fiat, you accumulate, and you spend little now, more later (not sell, spend!)
❤️❤️❤️❤️❤️❤️❤️🐣
Hodl tight, stay humble and stack sats !
My view and so also what i want to see addressed
Israel’s various governments have been good at never explicitly saying they want everything “from the river to the sea” but acting to get it. So overall Palestinians are getting robbed of “their land”
At the same time, on a map, even “from the river to the sea” big israel is tiny and surrounded by muslims countries, and muslim countries whose jews and christians (numerous before) have massively fled
+ Palestine was never a country nor was there a very specific Palestinian culture or history (even though there is now, that is what violence does, what nakba does)
So one can’t help to wonder if everything would not be better and simpler if Israel got the west bank (i am not even sure they want gaza) Gaza probably is part of Egypt, west bank palestinians relocate to Jordan, Egypt, Qatar, Saudi Arabia etc and it is settled. It sounds like promoting ethnic cleansing and so it is really bad etc but practically it would be better for everyone even if unfair in many ways
No delete possible but would add: obv it would be better to have 2 states or, to have the west bank be part of Jordan - but i don’t think thid will happen realistically any time soon
Can someone explain to me what is the equivalent in proof of stake of the link between block achieved through the chain of hashes (the winner hash will start with a number of zero having taken as inputs the previous hash + valid transactions) making it costly and difficult to rewrite history and the more in the past the more difficult
Is there anything similar in proof of stake? If not why would those even be called “blockchains”?
Many thanks this is a genuine question!
They have no savings and no incentive to save as it would be a huge effort as they are making little money and have no available savings instrument simple and not dilutable
They have little ability to have access to credit as well which is also a huge disadvantage in a world where money is created this way
Not saying the poor stay poor. Saying fiat is bad for them as
- they have no access to investments and keep the little they have in cash
- they have no access to credit
Then a lot of them get out of poverty through wages cause obv there is a generational and immigration aspect to it
But let’s say that for the bottom 80 pct of pop in terms of wealth fiat is bad, as it makes it more difficult for them to save and incentivizes to consume
Yes the key part (and crazy when you think about it) is that fiat monopolists were able to make people believe that inflation is an exogenous phenomenon
There is a lot of complicated reasons why supply of money should be “elastic”
There are many simple reasons why power wants to have the ability to print money
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Notes by edouard | export