MTozoni ⚡😺

Bitcoin OG, helping build the new fintech economy. I also build robots and airplanes.

Public Key

npub10ke32hpkj9l0765w0k37pcjd739humclg36zmntcea240t7e6apqwz4y6g

NIP-05 Address

[email protected]

NIP-57 Address

[email protected]

Profile Code

nprofile1qqs8mvc4tsmfzlhld288mglqufxlgjm7du05gapde4uv742h4lvawsspz3mhxue69uhhyetvv9ujuerpd46hxtnfduqs6amnwvaz7tmwdaejumr0ds8n059m

Publishing to

relay.damus.io

nos.lol

Author Public Key

npub10ke32hpkj9l0765w0k37pcjd739humclg36zmntcea240t7e6apqwz4y6g

Show more details

Last Notes

2024-09-17 14:37:42

- reply

Bitcoin isn't a US thing. And if bankers had power to keep Bitcoin from succeeding, then Bitcoin would've been a failure from the start. Bitcoin was created specifically to be unstoppable by bankers, so bankers can't have any power over it. As for Trump, when he was in office he let bankers print $3.5 trillion, while shitting on Bitcoin. He's not taking down anyone.

2024-09-16 20:21:15

- reply

Facts do matter. Context matters too. If I was to say that you're a nazi, like typical leftists do, that doesn't make it a fact. If I was to post a photo of you holding a Nazi flag, that's still not a fact, since I could easily manipulate a photo to show that. Critical thinking requires a bit more than that. Like, for instance, "what Nazi things have you or they done?"

2024-09-16 20:17:59

- reply

Look into who he is and it's not surprising. He's a mentally ill person and a grifter who has been talking to and harassing people on Maidan for days. A grifter that even the Ukranian groups there warned others about. Him being constantly on Maidan like wandering homeless person, and wearing that outfit, he ended up being picked as a background. https://image.nostr.build/aa02e8bfe9174a59b459418e513870c8df03afa49a0ec161b40e97e8394118a9.jpg

2024-08-24 14:06:20

You can ignore economists, just like you can ignore economics, but economics won't ignore you, and economists will be sure to pop back in to say "I told you so." https://image.nostr.build/7170bbcc22843a103feee75cb7cb9f279bbca48e256fb2e530bd7efa7922ba18.jpg

2024-05-05 13:51:16

- reply

It's not whether they're a dictator. It's whether they're starting and waging wars on their neighbors. Stay within your own borders.

2024-05-05 13:50:06

- reply

That modern fiat money began after WW1, not 2

2024-05-05 13:48:58

The twist is that all those people at the bottom are looking at their Bitcoin wallets. https://image.nostr.build/a8524722d720f9b24af27b49e396c80a0d6aa227d8536f30b2465c2b42560c4c.jpg

2024-04-14 01:16:39

During pre-WW2 we tried to appease dictators and de-escalate, thinking it will end the war. It only showed the dictators that we were weak and emboldened them, leading to WW2.
Now, a century later, even despite lots of people warning about history, we repeat the same mistake. https://image.nostr.build/dacf230ba8be7e1b27b85162e7562e45887ddcbc0fd7b0a230064734fd4eec95.jpg

2024-03-30 15:30:59

After spending 13 years telling people to get into Bitcoin, only for them to ignore you, how do you motivate yourself to keep doing it?

2024-02-27 20:37:14

- reply

Ukraine waging a war against Russia

2024-02-27 19:58:34

- reply

Turned out Tucker was. Even Putin didn't like his interview, and Tucker just tanked his credibility even more while giving that 🇷🇺 nut a platform to rant about made up history

2024-02-08 14:04:00

- reply

It's more that Europeans know it'll just be more propaganda, asking the dictator who invaded a foreign country for his excuses for starting a war. No one expects anything new they haven't heard before.

2023-12-28 22:13:06

Furries are apparently still angrily rejecting Bitcoin. To the point that if you mention it, they will attack you, harass you, and block you.
Hopefully that's starting to change, with now a second furry con having a bitcoin panel.
It's ironic that furries have so much hate for this, though not surprising considering majority of them are financially and economically illiterate socialists. But the furry fandom should've then the first to adopt it, since Bitcoin
• lets you pay for commissions anywhere in the world
• Won't ban and lock your account for selling porn
• Doesn't need access to banks or banking apps to set up
• Doesn't take a fee from donations like Patreon
• Lets you stick a donation address right into "Description" field of Furaffinity, YouTube, or any site without needing some payment processor support
• Lets you use different tipping addresses with different art pics so you can see which are popular
• It's the most democratic money on the planet.
• It's money that doesn't and can't discriminate against anyone.
• It allows you to create easy escrow for expensive commission, so the artist knows they will get paid, and the buyer knows their money won't be taken
And much more!
https://anthronw.com/anw6/schedule/

2023-11-26 03:36:54

I need to use this more... But not much to say

2023-09-28 23:57:02

- reply

Make it more wholesome. We pass it around like your mom with pizza bagels.

2023-09-09 18:48:17

- reply

Why not? They gave up their right to life when they took someone else's. Or from the NAP perspective, they initiated aggression, so it's fine to defend from it.

2023-09-02 13:08:24

- reply

Competitive gaming for money, broadcast live where possible. Competing teams hunt down and kill known slaves, getting rewards from excitedly watching public when they succeed. Hunger Games style.

2023-08-21 02:41:55

- reply

I thought this was kinda neat
#nevent1q…tqut

2023-08-11 18:56:37

How many times does central planning have to fail and lead to millions of deaths before people agree that it's just too dangerous of an idea to even try?
https://jacobin.com/2019/10/work-ethic-socialism-bernie-sanders-alexandria-ocasio-cortez
#nevent1q…zms3

2023-08-09 01:48:06

Poo coiners need a reminder sometimes.
#nevent1q…empf

2023-07-19 00:28:00

Our back yard is being tended to.
#nevent1q…lwp5
#nevent1q…qr5r

2023-07-17 22:49:41

- reply

Hello. Добрий день.

2023-07-15 21:44:35

- reply

Besides that, we already added a set of stairs between two floors, turning the separate garage/storage area downstairs into a finished basement/hall. Replaced all the wiring in the house and hooked it up with smart switches, power meeting, and Home Assistant for control and programming of the whole house. And knocked down a few walls and built-in closets, turning a large living room and a cramped hallway with some weird empty spaces into a large open space. This house is going to be awesome!

2023-07-15 21:42:03

Thinking of doing something crazy with the bathroom since whole house is being renovated:
Increase size of main bathroom, make it Japanese style where there's a separate small room for the toilet and the entire rest of the bathroom is a wet room (shower in the tub, shower outside on the floor, it's all good). Then build a large bathtub out of bricks and tile. We had hot water radiators in the house for heating the place, but took them out because we have air conditioning/heating now. So, thinking of painting all those radiators black, setting them out in the sun, plumbing them to to a pool pump and filter, and hook that hot water up to the large tub in the bathroom, keeping it full year round (minus draining for cleaning/maintenance). Hot spring/onsen type bath right by our master bedroom.

2023-07-15 21:31:14

- reply

Maybe I, someone who is from that country and knows what actually happened, an wasting time with you...

2023-07-14 18:58:46

- reply

Ukraine on Fire is an absolutely bonkers ridiculously stupid documentary. Watch Winter on Fire instead. I've seen both. Ukraine on Fire is the events of the coup with the interview and perspective of Yanukovich and Putin. Seriously, they're the main people interviewed and the main focus of the documentary. It's like making a documentary about WW2 and Holocaust by only interviewing Hitler and SS troops. Yanukovich was the criminal who ordered the beating and murder of civilians, including women and elderly. He's the guy who changed the laws to give himself dictator powers and tried to change the Constitution to make himself a permanent president. That's the reason protesters protested. Unless the CIA somehow forced him to do those things, the CIA had nothing to do with peotesters' motivations. And a documentary interviewing him about all of that would obviously have him claim he did nothing wrong. I'm telling you that's what happened as a Ukrainian and who's friends and family were on Maidan protesting. Please don't fall for Russian propaganda. In Russia, everything bad us always America's fault, and unfortunately a lot of libertarians who rightfully blame America for a lot of bad things have fallen for this dumb Russian propaganda.

2023-07-14 18:53:06

- reply

The "Ukrainian Nazi" thing is kinda dumb, considering Right Sector won only about 1% of the national vote in the last two elections, and Ukrainians elected a Russian-speaking Jew as their president. Ukraine is about as anti-nazi as European countries come 👇🏻
What Russian propaganda plays on is the "nationalism" angle. Ukrainians are nationalist, meaning they want to be a separate nation, not part of Russia. But Russia knows Americans think "nationalist = Nazi" so they play up that angle. Also Russians call anyone they don't like or want to attack "Nazi." Russia/USSR has been doing it since the end of WW2. Where do you think the woke leftist movement got the idea from?
As for the escalation of the conflict, Ross invaded Donbass and Luhansk in 2014, then asked for ceasefire Minsk agreement violated it, asked for a second one, and violated it too. Ukraine was building up troops because Russia was building up troops and threatening to invade. That's expected when you're living next to a hostile country that keeps saying they want to force you back under their control.
#nevent1q…ng83

2023-07-13 19:23:03

- reply

*Ultrasound=Ukrainian

2023-07-13 16:01:07

- reply

What coup? Yanukovich fled all by himself, and the government wasn't replaced. The Ultrasound parliament simply voted to impeach and remove him. You know, for the crimes and murders that he did. And even after 2014 and Russian invasion most Ukrainians were against joining NATO. Later on Ukraine did ask to join NATO, and was told no, you're not qualified. So Ukraine wasn't interested in joining NATO and not qualified to. It was only after 2022 Russian invasion that Ukrainians turned anti-Russia and want to join NATO.
And what about that other NATO country, with American-controlled elections, that was on Russian border for decades? Shouldn't Russia be worried and invade it too?

2023-07-13 15:57:00

I'm sure there will be some gullible idiots who believe that the five countries that absolutely proved their incompetence in money management will somehow be able to manage money perfectly all of a sudden with this idea. But I hope most of the world won't fall for it.
https://twitter.com/wmiddelkoop/status/1677309719436832768

2023-07-12 00:19:53

- reply

How did Ukraine deciding to stay neutral work out for Ukraine?

2023-07-02 03:28:20

- reply

I forget too sometimes

2023-06-22 18:40:38

'@JamesGRickards thinks BRICS will back their currency with gold come August, delivering "The Biggest Monetary Shock in 52 Years"
Yeah, that's kinda funny. The countries who are THE WORST at managing their money, will now become the most trustworthy money issuers? Yeah, I don't think so 😂
https://dailyreckoning.com/the-biggest-monetary-shock-in-52-years/

2023-06-22 16:08:04

- reply

Bit different adjusting to this being my normal life now, but I like trains, so \o/
#nevent1q…4qzq

2023-06-16 21:24:25

- reply

#nevent1q…4t0w

2023-06-16 21:23:14

Peter Schiff's investment advice is worth less than that of a 12 year old.
"Forgot to revisit this, so doing it now.
Exactly one year after ridiculing a 12 year old for going all in on bitcoin, gold was up 4.3%.
In the same period, bitcoin was up 536.2%
What lesson was learned, @PeterSchiff?
The financial advice of a 12 year old girl turned out to be 125x better than your financial advice.
Absolutely rekt."
https://vxtwitter.com/hodlonaut/status/1669689265880539139

2023-06-13 22:32:52

- reply

Bitcoin, Nostr, who knows what else.
#nevent1q…3wm8

2023-06-13 18:14:02

Once again Apple proves that they're collosal douchebags.
https://nostr.com/nevent1qqs2kykye4njfls6sf9yux4694rewxezqke4mncc8dkmlj9m3j89gvspremhxue69uhkummnw3ez6ur4vgh8wetvd3hhyer9wghxuet59ufp06n0

2023-06-12 23:10:23

Looks like Mark Karpeles, CEO of the defunct MtGox exchange who was accused of stealing bitcoin but claimed he was innocent, is vindicated after all.
https://cointelegraph.com/news/us-justice-department-charges-two-men-in-mt-gox-hack

2023-06-12 01:59:18

Geez, been almost a month since I checked here. Twitter is a hard drug to quit. Network effects and all that.

2023-05-13 12:06:18

Play fiat games, win fiat prizes
https://twitter.com/coinbeastmedia/status/1657154516217626626
"The same lady who helped Trudeau freeze Canadians’ bank accounts, just said:
“We'd like to unlock the savings of people's personal accounts for the COVID recovery."
She even referred to your private savings as "preloaded stimulus.”
#Bitcoin fixes this"

2023-04-25 02:03:48

- reply

You can just put in any block number, past or future

2023-04-23 16:50:06

- reply

Are you using the block number to say what time you posted this at?

2023-04-23 13:57:21

- reply

Look at the dates. The IMF got it wrong. Never forget.
https://twitter.com/BITVOLT7/status/1650006414750785536
#[0]
#[1]

2023-04-23 01:11:47

- reply

Liberty Con in a beautiful ancient monastery, in beautiful Lisbon, with some Bitcoin discussions (and the last one is the train station home)
#[0]
#[1]
#[2]
#[3]
#[4]
#[5]

2023-04-22 18:35:21

- reply

Move, please. Stop feeding parasites. It's your moral duty not to.

2023-04-22 18:34:43

- reply

What's the number?

2023-04-22 11:32:56

- reply

Don't get rugpulled by wealth taxes. When nation's economies fail, they get desperate.

2023-04-18 20:35:08

- reply

The rest of us use Bitcoin.
#[0]

2023-04-18 20:34:03

👀
https://www.coindesk.com/business/2023/04/18/coinbase-could-move-away-from-us-if-no-regulatory-clarity-ceo-brian-armstrong/

2023-04-18 20:33:31

- reply

Exit tax is coming. Lawyers and accountants, AND you must have a foreign passport before they let you give up your US one, so either wait a few years in another country, or pay $100k or more to buy citizenship elsewhere (plus more lawyers for that one).

2023-04-18 02:10:47

Now that I moved into this little village, where people aren't very well off but are very friendly and helpful, I'm wondering what I can do to help support them and bring something nice to the community. We already shop at the local corner store for everything and have lunch at the local cafe (it helps that they're right by the entrance to our house). And I have so much land to do stuff on. Currently front is a fruit orchard (lots of citrus trees) and back is just unused forest. Was thinking maybe turn the front area into a public garden of sorts?

2023-04-18 02:07:16

- reply

I kept putting it off, but finally pulled the trigger last year and decided to drop mine. A year later I'm still working on it. So much paperwork, waiting, and a lot of money 😭

2023-04-15 23:51:50

Bom dia! Bitcoin bought this view I get to enjoy every morning.
https://nostr.build/i/nostr.build_fbb4592dec7eaddff3b19db027610288cf76fca84037a13e3320d11f693d8ed8.jpg

2023-04-14 13:15:58

- reply

Thought the two previous highs were $60something

2023-04-14 01:04:37

Maybe more furry artists will start to like Bitcoin
@JayRNaylor
I wonder how many furries who take commissions know they're getting their first 1099K next year.
Quote Tweet
@CBSEveningNews
Starting next year, a new IRS rule will require anyone earning over $600 on payment apps, like Venmo, in 2023 to receive a 1099-K form. The old threshold was earning $20,000 over 200 transactions.
https://twitter.com/JayRNaylor/status/1646646897128493062

2023-04-13 20:39:55

One thing about Bitcoin lightning nodes (and bitcoin in general) is you need patience. Sure it's exciting to get a new one going as fast as possible, but it costs to transfer money, and the node isn't going anywhere. So instead of spending large Tx fees to try to get it going asap, spend small amounts (3sat right now) and just wait patiently to confirm. It might be ready tomorrow, but that's fine. Same with bitcoin savings and spending itself. Sure you can buy the shiny new thing today, but if you don't need it till later, why bother. Be patient. Low time preference.

2023-04-13 18:10:16

Another full bitcoin node up and synchronized, and LN node being set up with large channels and near free routing. It's not much, but I still feel like I´m contributing to the industry in some small way.

2023-04-09 01:20:20

Haven't posted much because no internet at the new house. ISP claimed they could provide for us, so didn't let us cancel without a massive fee. Then showed up on Monday and didn't do anything because there was no fiber to the house after all. Now we're waiting till Wednesday to see if they do let us cancel or actually do something.
Realizing how many of our devices depend on internet now that it's gone.

2023-04-06 11:32:59

"Diversify your investment" they said 😓
This is the S&P500 divided by the M2 money supply (total supply of US dollars aka actual inflation). It is currently at 1996 levels. Your S&P500 returns have been an illusion sustained by money printing.
https://i.imgur.com/BAhfXlu.jpg

2023-03-30 20:23:29

- reply

I figured that's how spam was going to be handled. I set my message posts to have POW of say 20, which takes a few extra seconds to sign and post, and then mainly accept messages with POW, rejecting free ones.

2023-03-30 18:25:39

- reply

I saw POW counter works, even on posts I make. But is there a way to set the POW to use for posts? Or block posts below certain POW?

2023-03-30 14:23:33

Lol! "Stop asking for more money, workers. You're causing inflation" 😆
https://twitter.com/ecb/status/1641376085358129157

2023-03-28 10:11:30

https://twitter.com/w_s_bitcoin/status/1640472523073794048
https://i.imgur.com/umOSxQT.jpg

2023-03-27 19:40:59

- reply

Upon further research, it seems Embassy OS has caught up to and possibly overtook Umbrel with the list of core Bitcoin apps. Specifically more support for Core Lightning. But still missing the convenience of Tailscale VPN. Upgrading my node (mempool made my Raspberry Pi weep😭) and will try that instead.
#[0]

2023-03-27 19:37:29

https://web3isgoinggreat.com/?id=cftc-sues-binance-and-ceo-changpeng-zhao
𝗨𝗦 𝗖𝗙𝗧𝗖 𝘀𝘂𝗲𝘀 𝗕𝗶𝗻𝗮𝗻𝗰𝗲 𝗮𝗻𝗱 𝗖𝗘𝗢 𝗖𝗵𝗮𝗻𝗴𝗽𝗲𝗻𝗴 𝗭𝗵𝗮𝗼
The US Commodity Futures Trading Commission (CFTC) filed charges against the crypto exchange Binance and its CEO Changpeng "CZ" Zhao for allegedly violating rules around trading and derivatives. Binance is the largest cryptocurrency exchange in the world.
The CFTC has alleged that "Binance has taken a calculated, phased approach to increase its United States presence despite publicly stating its purported intent to 'block' or 'restrict' customers located in the United States from accessing its platform... All the while, Binance, Zhao, and Lim, the platform's Chief Compliance Officer ('CCO'), have each known that Binance's solicitation of customers located in the United States subjected Binance to registration and regulatory requirements under U.S. law. But Binance, Zhao, and Lim have all chosen to ignore those requirements and undermined Binance's ineffective compliance program by taking steps to help customers evade Binance's access controls."
The CFTC is only one of several US groups looking into Binance, with the SEC also reportedly scrutinizing the exchange and the Department of Justice considering charges.

2023-03-27 14:34:40

Already made a huge profit off that!
https://twitter.com/saylor/status/1640325496654143488
MicroStrategy repaid its $205M Silvergate loan at a 22% discount. As of 3/23/23, $MSTR acquired an additional ~6,455 bitcoins for ~$150M at an average of ~$23,238 per #bitcoin    & held ~138,955 BTC acquired for ~$4.14B at an average of ~$29,817 per bitcoin.

2023-03-27 14:14:55

Microstrategy, Inc. (MSTR) acquired approximately 6,455 bitcoins for approximately $150 million in cash.
https://www.streetinsider.com/dr/news.php?id=21419728&gfv=1

2023-03-27 11:49:44

I wrote this 10 years ago. I find I do have to rely on it for newbues asking "can't someone just hack it?"
https://www.reddit.com/r/explainlikeimfive/comments/1ka962/eli5_how_bitcoins_work_mining_them_and_spending/
You and I both have a large sheet of paper (account ledger). Both of our papers have two lines, reading:
𝐀𝐜𝐜𝐨𝐮𝐧𝐭 𝐀: 𝟓 𝐛𝐢𝐭𝐜𝐨𝐢𝐧𝐬
𝐀𝐜𝐜𝐨𝐮𝐧𝐭 𝐁: 𝟑 𝐛𝐢𝐭𝐜𝐨𝐢𝐧𝐬
You are account B, I am account A. Both of us also have a secret signature that each of us can verify to be authentic, but can't actually see what secret is used to create it (this is public/private key cryptography, and is beyond 5 year olds) Let's say I want to send you 2 bitcoins. To do that, I take out a scrap of paper, and write
𝐓𝐫𝐚𝐧𝐬𝐟𝐞𝐫 𝟐 𝐁𝐢𝐭𝐜𝐨𝐢𝐧 𝐟𝐫𝐨𝐦 𝐀𝐜𝐜𝐨𝐮𝐧𝐭 𝐀 𝐭𝐨 𝐀𝐜𝐜𝐨𝐮𝐧𝐭 𝐁
--- 𝐒𝐢𝐠𝐧𝐞𝐝, 𝐀𝐜𝐜𝐨𝐮𝐧𝐭 𝐀'𝐬 𝐒𝐞𝐜𝐫𝐞𝐭 𝐒𝐢𝐠𝐧𝐚𝐭𝐮𝐫𝐞.
Then I write the following on my own big sheet of paper
𝐀𝐜𝐜𝐨𝐮𝐧𝐭 𝐀: 𝟓-𝟐=𝟑 𝐁𝐢𝐭𝐜𝐨𝐢𝐧
𝐀𝐜𝐜𝐨𝐮𝐧𝐭 𝐁: 𝟑+𝟐=𝟓 𝐁𝐢𝐭𝐜𝐨𝐢𝐧
And pass that scrap of paper to you, and everyone else using bitcoins. When you get that scrap of paper, you look at your own copy of the ledger sheet to see if Account A has 2 bitcoins to transfer, check that the signature that was used to sign that note is really valid (matches Account A) and if yes, add the same +2/-2 information to your paper as well. Owning that secret signature is what enables you to spend bitcoins, so me owning the secret signature for Account A, and you owning the secret signature for Account B, allows us to spend money from our accounts. In the end, the balance of each account is the beginning balance, plus all the changes we have added on later (so, 5-2=3 for Account A, and 3+2=5 for Account B).
Now, let's say I write a message saying I want to transfer 9 bitcoins from Account A to Account B, and pass that message on to you. When you get it, you will check your sheet, see that Account A doesn't have 9 bitcoins, and simply reject that message. Likewise, let's say that I send you a message saying I want to transfer 2 bitcoins from Account C to Account B. Even if the secret signature for Account C is valid, when you look at your sheet, you'll see that Account C doesn't even exist, and again simply reject it. This is basically how Bitcoin works, with everyone owning a copy of such a list of accounts and balances, passing any changes around as messages, and is how it prevents someone from creating counterfeit bitcoins, or just creating them out of thin air.
Now, regarding mining, basically, instead of you doing the work of writing those changes to the big sheet, you are delegating someone else to do it. You still keep a copy of the sheet and look at it to verify that accounts have the money they say they do, and you still verify that the signatures are correct, but what Bitcoin miners do is they actually thoroughly verify the transfer messages, write that information down on the sheet, and then generate an EXTREMELY complicated and nearly impossible to forge time stamped signature to sign off on all changes to the paper. It's as if they take each completed sheet full of these transactions, and stick it into a glass safe, where everyone can look at the paper, but no one can alter or mess with it (like posting accounting entrees to the ledger in a way that can never be changed again). This keeps others from going back and deleting old transactions, or fudging with the numbers in any way, so that, for instance, I can't send you 2 bitcoins, and then go back, delete that transaction, and try to send those 2 bitcoins to someone else (double-spending). For the work of verifying and securing the transactions, miners get to write a new account on the piece of paper with 25 new bitcoins in it, which from then on belongs to them. That's the only way the system allows for new bitcoins to be added to the ledger sheet, and how Bitcoin gets distributed in the community.
Let me know if I can improve on this somehow.

2023-03-27 02:56:08

- reply

How would that even work though? Multisig by all in the group? Shared priv key for those who are allowed to join? How would you be able to kick people out? Would that even be a feature we want?

2023-03-26 19:53:10

⚡⚡⚡ Lightning Network ⚡⚡⚡
Setup:
Umbrel ☔
Bitcoin node
Lightning node
(LNDg for auto rebalancing)
Zeus wallet
lightningnetwork.plus
Open some channels for free in/out liquidity
Strike or Kraken account to refill it w/ fiat
Spending:
Robosats.com to cash out
Purse.io to spend on Amazon (15% discount)
Bitrefil and thebitcoincompany.com for gift cards

2023-03-26 19:26:22

- reply

Hang in there

2023-03-26 14:25:11

From https://twitter.com/stackhodler/status/1639932246038654982
"In 2012 Argentina banned citizens from buying Dollars to force them to save in Pesos.
At the time you could get ~4 Pesos for one US Dollar.
Today you can get 389 Pesos for a Dollar.
Banning the Dollar didn't make it disappear.
People didn't forget about the Dollar's stronger purchasing power relative to the Peso.
So they started buying it on the black market rather than allowing their government to debase their savings.
If governments attempt to ban #Bitcoin they can expect a similar outcome.
People won't forget that there's an asset with a fixed supply that can protect them from government debasement."
https://i.imgur.com/WusDc0T.jpg

2023-03-25 22:57:22

From https://twitter.com/PrestonPysh/status/1639650024446480386
"The irony of the art is comical. If people actually want to understand why Bitcoiners are so amused, this is why (2 minute read):
Demand response programs are essential for balancing electricity supply and demand, increasing grid efficiency, and integrating renewable energy sources. Bitcoin mining can contribute significantly to these programs by absorbing excess energy during peak times, providing a sustainable financial system less reliant on traditional fiat infrastructure.
During high electricity demand, supply is often stretched thin, leading to increased costs and potential grid instability. Conversely, during low demand, excess energy, particularly from intermittent renewable sources like solar and wind, can go to waste. Bitcoin mining, with its immediate, on-demand energy consumption, can function as a flexible load that adjusts energy usage based on grid conditions. By participating in demand response programs, miners help absorb excess energy during periods of low demand, acting as a "battery" storing energy in digital currency form. This helps balance the grid and encourages the adoption of renewable and already existing natural energy sources.
In addition to environmental benefits, Bitcoin mining contributes to a more efficient financial system. The traditional fiat-based banking and financial infrastructure require millions of employees, thousands of branches, data centers, and other resources to function, consuming significant amounts of energy. By comparison, the Bitcoin network serves as a decentralized financial backbone, requiring far fewer physical resources and personnel to operate.
Bitcoin's decentralized nature eliminates many intermediaries in the financial system, streamlining processes and reducing overhead costs. Sure, the mining process requires computational power, consuming energy, but the overall energy usage is significantly less than the traditional fiat system.
Moreover, the Bitcoin network operates 24/7, providing near-instantaneous global settlements, contrasting with the slow traditional financial system (which requires trust and centralized powers that can debase the amount of currency supply in the system - which favors a few at the cost of the many), which can take days to clear and settle transactions across borders. The increased efficiency of the Bitcoin network translates to reduced energy consumption per transaction.
The transition to a Bitcoin-based financial backbone could result in significant energy savings, as the computational power needed for mining is less resource-intensive than maintaining the existing financial infrastructure. As the Bitcoin network continues to mature and gain acceptance as a global financial system, its potential to improve grid efficiency and reduce overall energy consumption will become increasingly apparent."

2023-03-25 21:47:16

- reply

It's not that direct though. As a business I seek to use the least amount of energy, but I buy whatever is available. Usually I have one choice. And electricity is typically a small part of my costs and revenues, one of many bills and choices I can pay or make.
As a power company, I sell whatever I have. I might develop other large power generating plants, but my customers are usually stuck just buying what is available, paying whatever price I charge. I have little incentive to innovate, since competition is mostly non-existent, and whatever comes up takes years to build because it would have to provide for a huge number of customers.
As a miner, my electricity is my main operating costs covering 99% of my expenses. And I'm more mobile, so while it could take a few months, I could pick up and move my operation somewhere where power costs become better. And I have a direct incentive to fund R&D into energy production if it helps me reduce some of those costs.
And if some country goes Idiocracy, like China did, miners pick up and move, like they did.

2023-03-25 11:59:54

- reply

It takes anywhere from 6 to 12 months to roll out major mining infrastructure and miners. So you have to plan ahead and expect that Bitcoin price will maintain or go up to compensate. Even Bitcoin mining is a low time preference thing.
#[0]

2023-03-25 11:56:46

- reply

While yes, Bitcoin 𝗮𝗹𝘀𝗼 solved the energy destruction enabled by the dollar, what I said is actually much more basic than that.
What is "Proof of Work" actually?
It's nothing more than proving that you have the cheapest source of energy, and the fastest silicone. That's is.
The rewards pie is fixed. So the one who gets the biggest chunk of it will 𝗮𝗹𝘄𝗮𝘆𝘀 get the one who gets the cheapest (aka most efficient) energy to lower costs, and fastest silicone to produce more hashes.
If Bitcoin becomes big enough, miners will compete for finding and even producing the most efficient sources of energy (as they're already doing). In some cases they just happen to be renewables. Whatever source miners end up pushing and developing will be the cheapest, and as a result become most abundant that the rest of us will use as well. Likewise miners will push for more and more efficient and faster silicone (as they also are already doing), and the rest of us will also benefit from faster computers and smartphones.

2023-03-25 03:21:26

- reply

Thank you. That is beautiful.

2023-03-25 03:18:06

- reply

That just makes my Amethyst crawl to a halt and crash when I look at your profile 😒

2023-03-25 03:10:16

So, are badges still a thing? Or did that end up just a week long fad?

2023-03-25 02:56:11

Bitcoin is not only the most energy efficient financial system, but it will permanently tie seeking most efficient, reliable, and renewable forms of energy to money itself. If Bitcoin takes over as money, we'll end up with an overabundance of cheap, reliable, and renewable energy.

2023-03-24 02:14:20

Complaint
https://i.imgur.com/UDjYO11.jpg
Answer
https://i.imgur.com/Aj4PoIi.jpg

2023-03-23 03:45:40

Somebody is mining a whole lot of monkeys on Bitcoin ordinals right now. I guess last year didn't teach the fools about parting with their money quite hard enough. Looking forward to the current idiots losing their investments yet again.

2023-03-22 22:48:26

Anyone want to bring back the tungsten standard?
https://i.imgur.com/lhU1Y0b.jpg

2023-03-22 13:00:51

Gonna get 'em so good this year 😂
https://i.imgur.com/qEu4u2V.jpg

2023-03-21 20:33:24

https://i.imgur.com/0HmZrdh.jpg

2023-03-21 16:52:25

- reply

Cascais by Lisbon

2023-03-21 16:42:27

Pura vida and bom dia!
https://i.imgur.com/3nJQljU.jpg

2023-03-21 01:52:37

- reply

Just need to find one Umbrel exploit and a large chunk of those will get screwed. (I hope not)

2023-03-20 23:08:14

- reply

#Portugal #Lisbon #Meetup

2023-03-20 23:05:50

Bitcoin Maximalist Meetup, Lisbon, Saturday March 22nd at 5pm, at Carnalentejana in Campo Pequeno.
Come join us to reminisce on the block fork wars and other attacks on bitcoin's blockchain.
https://www.meetup.com/lisbon-bitcoin-maximalists/events/292090594/

2023-03-20 23:00:41

- reply

Can't tell if I got smarter or dumber reading that post.

2023-03-19 21:47:47

"There is more than $22 Trillion in the U.S. banking system. The FDIC has $124.5 Billion on its balance sheet and a $100 Billion line of credit from the U.S. Treasury. FDIC assets cover only 1.26% of deposits. About the size of Silicon Valley Bank. One bank. Let that sink in.x
https://twitter.com/gaborgurbacs/status/1634329302845079555
https://i.imgur.com/gvCACmi.jpg

2023-03-19 21:38:17

Everything is fine.
BREAKING: US Federal Reserve and Treasury Secretary Yellen say US banking system's capital and liquidity positions are robust and the financial system is resilient
https://vxtwitter.com/spectatorindex/status/1637544100663803904

2023-03-19 17:23:27

Everything is fine.
https://i.imgur.com/UQHdRvE.jpg

2023-03-19 03:36:25

- reply

Nope. It's a Myst-ery to me 🤔

2023-03-19 03:05:09

- reply

Then what is the community based on? I'm in Portugal and I don't think there's a community where I live even though it's on the map. Just a lot of recent Bitcoiner immigrants who go to meetups.

2023-03-19 03:03:28

- reply

They're just pools, not miners. Miners are the ones who would be colluding or communicating. And I wouldn't be surprised if there are some large miners who mine on different pools at the same time, just to avoid the pool getting close to 51%

2023-03-19 01:01:26

- reply

*reward OR cost

2023-03-19 01:00:22

- reply

I think those academics also don't fully understand how mining works. Yes you can withhold a block for a short while and hope to get a second one, thus forcing others to waste resources mining for nothing. But they have a chance of finding a block during that time too, and publishing it before you, or even finding one with a higher difficulty. It's a risk that could reward of cost.