Compared to gold backed banks, definitely. But it only works if you can afford some UTXOs and incoming liquidity.
If that is only other banks, banks that are dishonest can buy market share like FTX and Celcius did.
I gave my daughter Rhyming Bitcoin for Christmas 2022 when we were at the inlaws. I wrote the Bitcoin price in a note in the front cover. The rest of the family though it was a bit conspiracy theorist and scary.
I think I will pull that out again this year.
People are cheering MSTR like they are champions.
They are increasing the amount of money without increasing productivity. That either ends in massive losses or inflation.
Saylor is betting that the central banks and governments will choose inflation rather than raise interest rates to what they should be.
Either way, by taking advantage of the cantillon effect MSTR can create chaos and get away with it. Plebs are cheering the very game they are trying to destroy.
nostr:nprofile1qqs8d3c64cayj8canmky0jap0c3fekjpzwsthdhx4cthd4my8c5u47spzfmhxue69uhhqatjwpkx2urpvuhx2ucpz3mhxue69uhhyetvv9ujuerpd46hxtnfduq3vamnwvaz7tmjv4kxz7fwdehhxtnnda3kjctvll3q2p shared something that does that.
Saylor is exploiting the unfair fiat system. As a company he has access to very low interest rates, he takes loans against the stock and buys Bitcoin. As long as Bitcoin increases in value against the loan, he can buy more Bitcoin with more loans. To wreck him, they would have to raise interest rates to a level that would crush the economy. As long as the fiat Ponzi continues MSTR keeps growing.
Plebs don't have access to interest rates as low as MSTR, so will be priced out.
This is the current fiat system for all assets. Saylor a exploit, especially if it catches on hastens the end of fiat, but will result in Bitcoin being accumulated disproportionately by the current oligarchs.
I prefer a gradual transition away from debt based money to equity by holding Bitcoin without debt.
He is taking advantage of being able to get close to the spigot of the money printer and exploiting the infinite money glitch. By launching a speculative attack on the dollar he is making himself and Bitcoin a target. But as long as his borrowing is low enough that jacking up interest rates to wreck him will destroy the whole economy he can get away with it.
There is something about bagpipes thatake you feel like loosing a war tragically, but with dignity.
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I'm still sad about Mutiny Wallet shutting down.
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Let's go 🚀
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I haven't been able to find a robosats buyer in days. Today I had a connection issue with Tor and lost my bond 😭.
I didn't know Tor was optional and can be turned off in settings
What I find fascinating about politics is how people end up supporting the opposite of what their political ideological values are. Like leftists supporting the authoitian state, censorship of speech, war.
In Australia a conservative government introduced gun laws, GST, marriage equality and increased the money supply by 40% during COVID.
Bitcoin consensus is primarily a social movement. But it is seen as right wing 🤷
You mean like watching boats sail over the horizon? That's an every day occurrence that anyone can observe. Watch boats sail into port. You can see the tall ones coming first then the shorter ones pop up in front.
What do you mean? If you draw a straight line from the 5 foot height to the water line you can see the height of objects that are hidden.
Do you go out on a boat much? That's exactly what you observe. Short fishing boats will pop up as you approach, sandy beaches on islands coming into view where from further away you couldn't see the sand despite being able to make out smaller objects that were higher on the island.
Or a temperature inversion from the water absorbing sunlight and heating the air above it.
I live in the tropics and often boat on very calm mornings where the water and land temperatures are the same. I played around with that horizon calculator and the observations that I see, when I can expect to see the beach on islands as I approach, when I can see small fishing boats. The calculator matches what I see
Because it's a massive liability for people to know how much money you have. Not just from people extorting you with violence, but also social expectations and business adversaries. The more information people know, the more that can be figured out. This means, what could be considered as unanimous could be considered transparent in the future when the chain analysis gets more information.
Like languages, but where they need to interact one eventually tends to take over.
If Bitcoin is not useful for real money purposes it might not be the one that wins.
The current yearly supply inflation rate for monero is 0.47%, this will always decrease as a percentage as the tail emissions are fixed.
Compare that with inbound liquidity fees for lightning, and it's insignificant if you use is for regular transactions.
https://image.nostr.build/e6f6a357e9bd6bcdec94a64873140653db8e69d075f8f0f13c7661b6a596aec1.jpg
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Tail emissions is the least of it. They enable variable block size so you can do bank runs on custodians.
Don't get me wrong, I'm not here to shill monero. I'm saying that what Bitcoin needs is going to change as it gains adoption to ensure it continues to freedom money. Maybe being vulnerable to takeover of custodians is the carrot that banks and nation states need to adopt Bitcoin and win the NGU race. Once it absorbs a significant amount of the global capital gains will diminish. It then needs to compete with cheaper, faster, more private coins that have growth potential to take market share off Bitcoin. This is when it will be important that Bitcoin has smart people making improvements to remain dominant and resist capture from banks who can offer economy of scale services but not really offering the real freedom of Bitcoin.
This is great. A nice simple UI explaining it as it happens and why it's necessary to own your data would help.
It would be cool if the invitees can suggest follows
I was agreeing with you. Blocks too small have the same effect as blocks too big.
If they are too big, people can't afford the hardware to run a node.
If they are too big, people can't afford a utxo, so there is no point running a node. In this case people are forced to use custodians. Custodians centralise to large entities due to economies of scale, particularly at high fees. Since the custodians are the ones paying the fees, they are incentivised to run miners. This gives them control of the network for the same cost as paying the fees. They can run a slight loss on mining to force out miners who can't subsidies costs with fees they charge for being custodians.
They are then incentivised to spam the network with additional data to price out all but the largest custodians. This is revenue neutral as the mining rigs pick up the revenue from the fees paid.
This seems to be the Microstrategy play book.
I did the same thing by accident. I knew there was a 3 hour window but fell asleep before pausing my order.
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I'm still sad about Mutiny Wallet shutting down.
nostr:nevent1qqswg6zvfgxwq7848e875u8dmkeg76je0jj3hmf2ll7pwpg38hsgf3qpz4mhxue69uhhyetvv9ujuerpd46hxtnfduhsygz2u527cad2mg5pvwtam2zvcc7zeg0zkfalf8ch8276jajtn00rtvpsgqqqqqqsv3rvlw
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