garyj

bitcoin and decentralisation is our lifeline

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relay.damus.io

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Last Notes

2024-06-17 16:13:03

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My question was actually rhetorical
https://threema.ch/en/faq/server_location
What if a company called twoma offloads the data from threema servers as an offline process, this wont show uo in threemas open source code and then threema does indeed store nothing. Point is I don't trust them

2024-05-22 10:09:36

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Mints = trusted 3rd parties are security holes.
However, anything not truly decentralised, and bitcoin is the only truly decentralised coin, will have trusted security holes. These are called shitcoins and shitcoins will have a place for buying coffee and groceries, as long as the risks are understood and accepted. Just the way it's going to be. LN(non custodial wallets) will battle to compete IMO, under bitcoin fee pressure LN failed.

2024-05-14 01:22:57

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"Who gets Access" is not the same question as "what is sound money".
There is a cost to decentralised security. Its one of the iron cast tradeoffs. If you want relatively low cost then lower your security.

2024-05-05 11:09:28

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Xmrbtc getting hammered , long term. Market doesn't like monero vs bitcoin https://image.nostr.build/3ed53724b92be715c2a5d3fe792157db488cce164169c20731b4e7b4b8331eb3.jpg

2024-05-05 09:41:31

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All of what you say is true, except once you take the first inflation step the market never trusts you again. With money its all about trust. Its like tax, once introduced it never gets withdrawn and only gets worse. The market has voted , xmrbtc is plummeting over the long term. Bloated block chain also a factor ? . Use monero as side-chain to spend privately. Imo

2024-05-04 15:21:51

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So, if monero is so good then it can be used as a privacy sidechain to btc, as can perhaps LN. Because , as it stands, xmrbtc is getting hammered. I don't think monero will ever have the first mover network effect, mining power and number of nodes. Also, I don't like tail emissions. Inflation is a distortion of price throughout the economy, leading to malinvestments and economic malaise. No thanks.

2024-05-04 08:06:19

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We need a publicly auditable blockchain. How much gold is in ft Knox ? The public is not allowed to know, the public is not allowed to audit it. For 3000 years we could never audit publicly the base money supply and the movements of the base money. This is the root of our big problems. The govt going beserk with a cartel of money producers because nobody really knows what they are up to.. We have public auditability of money now, for the first time in 3000 years, and this is the big bitcoin breakthrough. We also need personal anonymity and we have that but that's largely up to the individual. The protocol is fine.

2024-05-02 14:24:45

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Bitcoin is sound money. How do you price somebody out of sound money ? You can use money for any dumb purpose you want, all that happens is that you usually end up with no money.

2024-04-27 15:50:18

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Let's all join handa and sing kumbaya !
The good engineers dont ask "how many ways can this bridge stay up?" They ask "how many ways can this bridge fall down!"

2024-04-27 14:30:16

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Law is wielded by those with the most guns. Take it from there.

2024-04-22 08:59:44

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Who stores your physical gold when you hold the block chain token ? Just asking....lol ! Larry "ratfink" Fink wants to tokenize ALL physical assets, including your house. "Must be a good deal!" Its coming and You Will Own Nothing(TM). People are asleep

2024-04-16 07:43:17

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Austrian School missed the bitcoin bus , badly. The incorrect "Regression Theorum" bamboozled them into thinking bitcoin could not be money because it didnt have "intrinsic value" or value as a commodity before it became money. What a shame. Some of them have been waiting since the 1970s for gold to go to the moon.

2024-04-12 05:25:16

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Bitcoin is sound money. It is not some app. No other software is sound money. Sound money doesnt change

2024-04-10 12:43:30

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Credit notes will always spontaneously arise and will be traded as currency
Always !!! Why ? Because in the supply chain, for example, manufacturers may not get paid until their goods are completed and in the meantime they need to pay wholesalers and wages. They will raise notes and this will be used as currency until their finished goods are settled for bitcoin. This has been known since before Adam Smith. These notes were called Real Bills and were settled for gold.

2024-04-01 12:54:46

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SCIENTISM cheap shots #1025.

2024-03-12 18:39:27

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Nato can no supply ukraine with sufficient arms or troops. No 155mm shells, no capwblr air defense, no capable aircraft, no capable tanks, no answer to hypersonic weapons, no jdams. Nato is a MIC money laundering talking shop, thats why countries join. Russia and Ukraine had a peace plan in Turkey signed and on the table in March 2022 and Nato told them to take it off and continue fighting. The west is hopelessly bankrupt. Nato will not survive this excursion.

2024-03-12 17:47:16

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Minsk treaties skulduggery admitted by Merkle, Hollande, and others. "Nato not one inch east"-James Baker circa 1990. 2014 coup "fuck the EU"-Nuland. Read some history. Get a clue ffs !

2024-01-01 07:17:45

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Tax is surveillance and data collection. The money printer finances the govt, tax is the control system.
As the debt based financial system collapses, the source of their control and power collapses. Bitcoin as sound money is a direct threat to this system. They will attack bitcoin mercilessly. Get ordinals out of the blockchain , ordinals are not money , ordinals is an attack.

2023-09-09 08:40:44

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Attack surface !!! Every tinker risks widening the attack surface in ways that can be bewildering.

2023-09-08 10:50:36

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Ossify the base layer. It's a feature for base money. Extensibility in the upper layers.