techfeudalist

Blessed by tech; working to bring the benefits to everyone. Freedom, incorruptible money, privacy.

Public Key

npub1nz3cd3mx4jf9paxwrdgqvchaprjdge9pj9t58mkusw74q5saajkqu0yxqu

NIP-57 Address

Profile Code

nprofile1qqsf3guxcan2eyjs7n8pk5qxvt7s3ex5vjsez46ramwg802s2gw7etqprpmhxue69uhhyetvv9ujumn0wdmksetjv5hxxmmdqyxhwumn8ghj7mn0wvhxcmmvw4cg6k

Publishing to

relay.noswhere.com

nos.lol

relay.damus.io

Author Public Key

npub1nz3cd3mx4jf9paxwrdgqvchaprjdge9pj9t58mkusw74q5saajkqu0yxqu

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Last Notes

2024-09-07 21:30:13

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What’s happening now in the profession regarding gain of function experiments? Is there any recognition that, in all likelihood, the scientists caused covid?

2024-09-06 19:33:57

One interesting outcome of this model is that it’s a new way for nostr influencers to make more money.
Influencers with large number of followers could be paid to review and follow new accounts.
For example, a new user could DM zap an influencer and ask for a follow. The influencer could review their profile and decide whether to follow. If they do follow, then the new user enters the trust graph for all the influencer’s followers.
If they start spamming and get unfollowed, then they would lose visibility.
Who knows? maybe we’ll see apps make this part of the onboarding flow for new users. Getting a nostr “mentor” is helpful in many ways. #note1gau…2mnx

2024-09-06 17:02:29

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Hmmm, not sure if you realize that bcash is already horribly centralized. This is what we’re trying to avoid with bitcoin.
Also, there is no risk to OP_CAT on Liquid because it doesn’t have mining like bitcoin.
The problem with enabling OP_CAT on the bitcoin timechain is that it can create arbitrage opportunities which can encourage miner centralization.
Here’s how:
CAT can enable on chain atomic swaps.
https://bitcoin-takeover.com/andrew-poelstra-bitcoin-covenants-op_cat-vs-op_ctv/
On chain atomic swaps can be used to create securities marketplaces (eg Uniswap on Ethereum)
https://www.gemini.com/cryptopedia/what-is-an-atomic-swap-token-swap
Unswap-like exchanges create the potential for centralizing MEV by allowing speculators to bribe miners to reorder transactions so the speculators can jump the queue.
https://medium.com/flashbots/frontrunning-the-mev-crisis-40629a613752
Smart contracts, arbitrary code execution, etc are fine if they’re off-chain. But if when they are used on-chain, then the they can harm bitcoin’s decentralization.
Devs who want to use OP_CAT should just use it on Liquid. No need to take unnecessary risks with bitcoin.

2024-09-06 15:56:57

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The explanation here on why OP_CAT was disabled is misleading. It wasn’t “developers” it was Satoshi. And nobody knows why Satoshi disabled it, because he never said.
Advocates of OP_CAT want us to believe that it’s safe. Notice that they never address the real risk - that the feature causes miners to become more centralized from MEV.
Maybe Satoshi noticed the risk to miners. Nobody knows. Regardless, OP_CAT is dangerous and unnecessary.

2024-09-06 08:15:19

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Explain the process step by step please so a dev could implement it into their nostr client.

2024-09-05 23:20:44

I only see two ways to stop this spam.
1) filter to see only posts from people in your trust graph
2) impose a real cost to post to all
Anything I’m missing?
Bottom line is that new users will be initially treated like spammers.
This attack is probably just a warm up. I would expect that we’ll soon see AI posts that you can’t pattern match, and overwhelming spam against both replies and DMs. I would expect them to initially target the folks with the largest follower count, then attacking new users.

2024-09-02 14:01:56

Peter says:
“Unlike OP_CAT, CTV doesn’t appear to raise much risk of unintended consequences beyond encouraging out-of-band fee payments in certain cases. This isn’t ideal. But no-one has come up with a widely supported alternative.
My personal recommendation: do a consensus cleanup soft-fork, followed by CTV.”
Peter admits it creates risk, but then claims omniscience to state that the risk is minimal.
Activate OP_GFY instead!!
ADD NO RISK TO BITCOIN. You have no right to gamble with the world’s money, and our hope for the future.
@npub1h8n…rpev … another dev admitting that it adds risk. #note1nwv…fuqp

2024-08-31 17:10:05

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Sapio runs logic on-chain but BitVM is currently designed to run logic off-chain. You can’t equate them.
Big difference in terms of risk to centralizing MEV, don’t you think?
It will be interesting to see how BitVM develops though.
You’re not going to respond? Once I brought receipts and then you suddenly “didn’t have the time”? Disappointed. I thought we cared about what’s best for bitcoin rather than our established positions.

2024-08-31 15:24:23

I was shocked to learn from the book Broken Money how France, to this day, continues to subjugate and impoverish poor African countries through the CFA franc.
And when anyone seeks monetary independence and opposes the franc, they are assassinated.
I wonder how many French know that their country steals from poor Africans?

2024-08-31 13:20:46

The guy, who spends his time bringing shitcoins to Bitcoin, is advocating for op_cat.
No kidding. I guess that’s the quick TL;DR on why it’s a terrible idea. https://image.nostr.build/4f5c3f2ba18c06de6d3a09213fbf6616551ba6b467aab03f2c5ed48143c3e762.jpg

2024-08-31 11:59:08

The plot thickens…
Macron lured Durov to France on the pretext of having dinner? https://image.nostr.build/2feb4c1a04ea1e9d4ccab3a178d52f740d6d15452ce512164bb824d342541643.jpg

2024-08-30 22:36:12

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Honestly, don’t know what I want to see more. People not complying with that stupid diktat or people moving over here. 🤔😀

2024-08-30 12:34:58

Must listen!
https://tuckercarlson.com/tucker-show-mike-benz-2

2024-08-29 13:47:22

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It’s for the reason you wrote this:
“1 large public, international relay: nos.lol, nostr.mom, relay.damus.io, etc. “
You seem to be saying that it matters which relays you use. That, if you don’t use large relays, then you will lose visibility and content.
If everyone prefers to connect to large relays, then the system will stay centralized and become even more centralized over time.
The only way nostr becomes more decentralized is if it DOESNT matter which relays you use.
This is architecture which promotes centralization over time:
“make sure to choose a large international relay”…
This would promote decentralization:
“just randomly choose any 10 public relays and you’ll never miss a post and all your followers will receive your content.”
Am I missing something? If it doesn’t matter which relays to use (we can choose randomly), then please let me know.

2024-08-29 08:54:32

This is what I was referring to when I said that nostr has “centralizing gravity”.
This guide essentially says that all users must connect to one of the large international relays.
Clearly having all users gravitate to a few large relays isn’t the best for freedom of speech and increases legal risk for those operators.
There could be many ways to fix this problem but it starts with acknowledging that it exists and working with the community to solve it. #note1fsd…s3gg

2024-08-29 08:40:31

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You say it “appears to be safe”, but have put forward no justification to support that statement. You can’t say just say “trust me” to the bitcoin community. We need the “verify” part too.
“it’s *easier* to justify than a bunch of things we’ve already soft forked for.”
Sure, but you and I both know that’s not a real argument. Arguing that devs were more reckless in the past doesn’t justify additional reckless protocol changes. That past recklessness explains why we have the witness discount, more spam data in our timechain, and additional centralizing forces on miners.
Bottom line: if you’re advocating to change the core protocol, you have an obligation to demonstrate that it’s safe and necessary. You owe the community this. And since you have a highly visible platform, you have a duty to use a higher standard of care … a higher bar, if you will.

2024-08-29 07:55:10

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Great, I’m glad someone who does just showed up. Go ahead, tell me all the ways it can be used, and prove it’s both technically safe and also doesn’t disrupt the network ecosystem.

2024-08-28 23:45:07

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Ok, then prove to me that it can’t be abused.
You can’t prove a negative so to prove it can’t be abused, you must first list all classes of ways it can be used and then prove those can’t be abused.
Since you can’t list all the classes of ways it can be used, you can’t prove it can’t be abused.
So therefore your statement that you know the limits of it and that it’s safe is not true.
You don’t know the limits of it. If you did, you could tell me. Right?
Timelocks and multisig have classes of uses beyond lightning so you’re right, it would have been silly to reject them because we didn’t know of the potential of lightning. We already knew other ways they could be used. For example, shared custody.
It’s not just a hashlock, is it? If it were just a hashlock we could use pay-to-script-hash (P2SH).
Think about it more. You have everything backwards. In product design, we don’t build technology first and then hunt for a problem to solve. We first identify a human centered problem to solve and then design technology to make people’s lives better.
Imagine that you are a systems designer for a nuclear reactor. Would you agree to release a public API that could do a bunch of stuff that people will figure out later? No, you wouldn’t. Someone might accidentally melt down the core. Instead, you would make the most limited changes that you knew would be safe.
When I look at the bitcoin core protocol. I see something more important than a nuclear reactor. The core devs are one of the most centralized and dangerous systems in the bitcoin ecosystem. Unlike individual govts, they actually do have the power to destroy the entire network.
Let’s not “melt down” bitcoin’s core. Future generations are counting on us.

2024-08-28 09:15:52

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Good post. 🙏
Your analysis though is missing a dive into the centralization gravity of the tech architecture itself.
I understand your point that there will always be a psychopath willing to subsidize freedom. Maybe that’s true and continues. It’s been true so far.
But psychopaths are not enough to keep nostr decentralized.
Relays are NOT equivalent. A relay with 100k users is not the same as a relay with two users.
Relays equal reach. Everyone wants the greatest audience for their posts and to never miss a post from someone they follow. This creates a natural incentive to connect to the largest relays.
The problem with the architecture is that nostr clients limit the number of relays you can have. For example, @npub18m7…q955 recommends ten or less.
This means that when you’re limited to the number of relays, you want to connect to the largest (greatest cache of content and most connected users). Nobody wants to connect to the smallest.
This creates a centralizing gravity where relays get larger and more concentrated. Eventually we could end up with 10 massive relays. There would be no need for the 11th so few people would connect to it.
As you know from your analysis on shitcoin blockchains, they have a natural centralizing gravity. They need to be faster and cheaper than their competitors. This forces them to go POS and run fewer, larger nodes to increase throughput.
Nostr’s architecture has this same centralizing gravity.
This needs to be discussed, verified, and if confirmed… then fixed.
Ultimately, we’re not on team nostr v1. We’re all on team freedom and privacy.
@npub1exc…n72a @npub1qny…95gx
@npub1xts…kk5s @npub1gcx…nj5z

2024-08-26 12:25:25

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They might not know who their customers are. But they can take the service offline or they can spy on the users if they want to or are compelled. You won’t know because you can’t verify. This is why I’m saying that the service isn’t decentralized.

2024-08-26 12:15:38

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Better than nothing, sure. But why do you think the hosting company will not take the relay offline if demanded?
Why do you think they will not deliver the IP addresses of the poster’s npubs, if demanded?
Centralized hosting providers are also one throat to choke.

2024-08-26 10:41:23

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This is a fantastic use of his skills. Hope he spends more time on nostr and less on GSR.

2024-08-26 10:34:52

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Distributed isn’t decentralized. The only reason this is debated is because nostr hasn’t faced any real attacks yet.
You seem to be saying that the solution for average folks is to understand onion routing and use VPNs. That seems unlikely and impractical. For average folks, if it’s not safe by default then it’s not safe at all.

2024-08-26 10:16:10

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If it’s not “private by default” then can it ever be safe for regular users?
Or does a newbie introduction to nostr now require a lesson in VPNs and onion routing?

2024-08-26 09:33:43

Were you confused when you saw Russia criticize and quickly attempt consular support for Durov given their history?
Me too.
The rumor I’m hearing is that many in the Russian military (potentially Iran too) were using Telegram. I find this hard to believe given Telegram’s insecurity, but who knows. Apparently Western countries want access to these military messages. 🤷‍♂️

2024-08-26 09:26:29

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Because each relay has a single known controlling individual. A single KYC’d throat to choke.
Distributed isn’t decentralized

2024-08-26 09:10:24

This is true. I would also add that nostr’s use of public keys while lacking IP privacy is dangerous because it could mislead posters to believe that they are anonymous.
So not only are relays not decentralized but any govt agent with access to a relay can figure out who you are. #note1lcl…dydg

2024-08-26 08:57:44

Enjoyed this
https://youtu.be/5Peima-Uw7w

2024-08-25 10:44:04

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Yes, mixed incentives. From a strategic point of view, showing slightly positive poll results could motivate campaign workers and donors. (To give their time and money because it’s not a lost cause.)
Showing slightly negative results could motivate voters to get to the polls. (They might stay home if they’re lazy and think they’ll win anyway.)
I honestly believe that this election comes down to which party cheats better. There are probably a few key counties where stuffing a few ballots would flip the state. I would think they would have the data to know where to focus their efforts.

2024-08-25 10:00:12

Interesting to see we’re back to even odds on the election. I know it doesn’t matter but like watching for the glimpse into normie minds. 🍿
https://polymarket.com/event/presidential-election-winner-2024?tid=1724572357219

2024-08-19 21:57:55

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It’s probably true. But he didn’t really need to do shock stuff for clicks. His earlier content was so good. I just zapped him 10k sats a few weeks ago to thank him after watching his movie on Peru. And now I had to unfollow and mute him to stop all this garbage from hitting my feed. 🤷‍♂️

2024-08-19 16:02:18

Conspiracy theorists right again. 😎 Mainstream media said it was Russia, we said it wasn’t. Now they’re pointing the finger at Ukraine and German lawmakers saying they want reparations. Media wonders why nobody trusts them anymore.
We need a new tagline… “Conspiracy theorists: telling you tomorrow’s news, today!”
https://www.wsj.com/world/europe/nord-stream-pipeline-explosion-real-story-da24839c

2024-08-19 14:46:28

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And five years from now Libya becomes a wealthy, prosperous country.

2024-08-19 03:37:58

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Yep, don’t need censorship. Unfollow and mute seem to be sufficient.
The only problem that we could have here is if trolls set up an automated bot ddos attack against someone’s DMs. Maybe accounts should be able to specify a zap amount for incoming DMs to filter out spam.

2024-08-18 21:31:16

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I’m not sure. In the video, the locks are in a plastic tube (which is tough enough to withstand the pressure of the small volume of water in the demonstration).
How would the Egyptians have built such a thing that could have withstood the water pressure of a gigantic tube? According to AI, a tube 10 feet in diameter and 50 vertical feet would put pressure at the bottom of the tube of 700 lb/sq inch. On a 1 sq ft block of stone at the base, that would be 100,000 lbs pushing out for 50 vertical feet. For 500 vertical feet, that would be 1 million lbs pushing out. Not sure how they would have constructed a tube to withstand that.

2024-08-18 21:12:06

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Yes, I do that too. Thanks for the reminder. Forgot to mention it (probably because it’s such a daily routine at this point).

2024-08-18 19:50:34

What I do:
1) Cook at high temps only with saturated fats (butter, ghee, tallow, coconut oil, etc )
2) Use olive and avocado oils only at low temps. Make sure they are cold pressed / extracted.
3) Never consume the “hateful eight” oils: canola, corn, cottonseed, soy, sunflower, safflower, grapeseed, or rice bran. They are everywhere in your kitchen and pantry. They are all heat extracted and highly toxic.
Almost all restaurants use the hateful eight because they’re cheap and “vegan”. Realize that all restaurant food is toxic but you’re probably shortening your life by eating fried restaurant food.
4) Minimize sugars but never consume fructose.
5) Lift heavy weights every week. Cardio isn’t enough.
What did I miss?
#note1x28…nfjj

2024-08-18 18:46:15

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Maybe. They could have used water as a counterweight. Just so long as they had strong enough ropes. Presumably they didn’t have steel cables and I have no idea what rope materials they had at the time. 🤷‍♂️

2024-08-18 18:42:44

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Maybe, but any explanation will need to address construction of the system and how they addressed the foundation and water pressure. For example, a series of linked pools like a set of locks going up 600 feet would have been its own engineering challenge.
Would it have wrapped around the pyramid multiple times like a corkscrew? The more times it wrapped, the lower the water pressure on the lock gates, but the stronger the foundation and supports would need to be. What might have supported it? Maybe some sort of scaffolding system? Dunno. 🤷‍♂️

2024-08-18 18:29:32

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That concept is interesting but doesn’t explain how the Egyptians would have been able to deal with the water pressure at the base. The gates and pipe from the concept would need an explanation on how those technologies would have been implemented by the Egyptians.

2024-08-18 14:56:03

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It’s the height that confuses people. Not sure how you would float massive blocks up 600 feet. They would have needed more than a river.

2024-08-18 04:22:22

It would be good to see this chart including the bitcoin holdings in the county’s regulated financial system.
The U.S. may be selling but they have at least 1 million more in the ETFs.
https://m.primal.net/KCny.jpg

2024-08-17 05:03:14

Like The Sovereign Individual, The Lessons of History was one of those books that changed my perspective and gave me a new framework to understand the world.
The book discusses how a power struggle eventually develops between the elites. The minor elites, excluded from power, align themselves with the populace. This often devolves into violent revolution.
I keep thinking how this describes what’s happening with Trump.
I think the betting markets may be accurately predicting the decline of Trump’s chance of winning. Almost the entire system is stacked against him. The major elites control the military, most of the judiciary, academia, the media, the govt, tech and industry. The minor elites control a few key states and a majority of the supreme court.
Anyway, was just thinking how we’re watching one of those moments in history play out in front of us right now.
Thanks to @LynAlden for the book recommendation. The Lessons of History became one of my favorite books.

2024-08-16 05:05:42

We’re stronger together. I’m glad we have this community here now. https://image.nostr.build/5d00d7f444b29a451c99a48f69b9ac72e1412828f51815cd623b0b8f9d7dafcc.jpg

2024-08-16 04:33:29

Honestly, if t would be amazing if the 🇺🇸 dumped their coins. It might even motivate other countries to step of their stacking. Even out the playing field.

2024-08-15 03:37:00

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I guess you’re right. The USA killed just as many unarmed civilians with firebombings and they did with nuclear weapons.
And you’re saying that, after the US destabilized the country, that other people killed civilians too?
It’s interesting how people always seem to find ways to justify the killing of those other people. They always seem to deserve it somehow.

2024-08-15 03:14:16

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Oh, let’s see:
Who is the only country to kill hundreds of thousands of unarmed civilians (including women and children) with nuclear weapons?
Who made up the claim of “weapons of mass destruction” … and how hundreds of thousands of civilians died?
There’s a long list, if you care to look. I’m not sure how you can claim they haven’t done the same thing.

2024-08-15 02:56:18

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This is the same argument that Osama bin Laden used to justify attacks on Americans … by arguing that U.S. civilians were complicit in their government's actions.
Does your government represent you? I suspect most people would say no.

2024-08-14 18:43:02

They need bitcoin…
https://www.zerohedge.com/geopolitical/massive-cyberattack-cripples-central-bank-iran-report

2024-08-12 18:01:41

I want to dig into this more, but at first look, it seems strange. Why would a self custodial lightning app rely on a 3rd party API?
It seems that this service is trying to fill a hole in the market that maybe won’t exist for much longer. I’m still thinking most self-custodial lightning apps for plebs will disappear. Instead, lightning will just be used by custodians, exchanges and federations. We, the plebs, will just be using ecash soon.
Dunno, maybe I’m missing something? #note1maf…kc3f

2024-08-12 16:17:16

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Depleting glycogen is just a normal process and how your muscles use glucose. Glucose has to go somewhere, right? (Into your muscles or stored as fat).
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6019055/
Also, more on seed oils
#note1fun…dxd6

2024-08-12 16:11:39

We all know that seed oils are terrible for our health, but do you know why?
A deep dive from a physician and biochemist:
https://daveasprey.com/cate-shanahan-713/

2024-08-12 16:04:38

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If you haven’t already, purge seed oils from your diet (canola, sunflower, safflower, etc). One of the secret causes of weight gain / retention.
They are everywhere, especially in restaurant food.
Go through your fridge too (margarine, salad dressings, etc).
Also, you need to drain the glycogen from your muscles so that they can absorb blood sugar. Walks don’t do that as effectively as lifting heavy weights. If you don’t drain the glycogen from your muscles, then blood sugar gets stored as fat.

2024-08-12 05:13:34

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Thanks! I’ll check it out.

2024-08-12 04:45:41

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Supporting alts complicates the UX and diffuses available resources. Ultimately, that reduces the quality of the product.
Better to just focus your time and resources on the one with the largest market. https://image.nostr.build/32ea4845c3a1f3ab55e72d46da5a92b6a494b51ace61317e22483fe956233153.jpg

2024-08-12 04:29:59

Long and meandering but I found the premise interesting.
TLDR: the pyramids show signs of sea water damage from a ~600 ft flood thousands of years ago.
https://theethicalskeptic.com/2023/12/18/hidden-in-plain-sight/

2024-08-11 15:00:12

Sure, sure. The Iranians did it. Those silly Iranians conveniently hacking Trumps campaign just as Western countries are looking to escalate attacks on Iran.
https://www.zerohedge.com/political/trump-campaign-hacked-microsoft-says-iran-backed-group-mint-sandstorm-responsible

2024-08-10 18:50:50

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Possible reasons:
- child sterilization, fewer traditional families to reduce population growth
- reduce parental rights to promote state control
- promote societal conflict
- promote intrafamily conflict
- DEI to reduce meritocracy and undermine western prosperity

2024-08-09 21:58:17

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Please let me know when this is over so I can resubscribe to you. 🙏
The globalist effort motivating people to eat bugs isn’t out of concern for their health or culture. It’s about serfdom and making people think their poverty under a declining fiat system is a good thing. (“Think about how you’re saving the planet by eating bugs. You don’t want that beef anyway.”).
Really enjoyed your past content. Looking forward to more of that.

2024-08-09 20:08:44

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Russia announced using cryptocurrency for international payments, and has been doing well despite the sanctions, and the majority of Chinese exports are now paid in RMB.
There probably will probably be a (hotter) war but that should decentralize things further. The US has a sovereign debt crisis brewing.
I’m not saying there won’t be challenges and attacks. I’m just saying that I’m watching things moving towards decentralization and I’m encouraged by it.

2024-08-09 18:53:23

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Yep, expecting all types of federations and some rug-pulls too. I think that they mature into something that looks like credit unions eventually.

2024-08-09 18:23:44

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#note1xrr…jhug

2024-08-09 17:20:22

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I think you should read it more closely. It says “enforced” not activated. That’s because it was already active in July 2010 when the code was checked in. The enforcement in Aug 2017 was the point of the UASF … to force the big blockers into a chain split.
Did you think you “got me”? 😂
Sometimes I get stuff wrong, but I didn’t this time.

2024-08-09 16:47:25

I’ve been seeing a few fund managers do this now. Add BTC to their other bond and equity funds to goose returns by taking advantage of BTC’s incredible Sharpe ratio. BTC burrowing itself deeper into the financial system.
Game theory at work. Limited supply so always advantageous to acquire BTC before others do. #note1c7q…js7e

2024-08-09 16:07:03

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Wasn’t it 1MB?
When you look at bcash or bsv, are you thinking we should fix bitcoin by bringing those big blocks here too?

2024-08-09 15:39:43

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Nothing stops people in oppressive jurisdictions from using federations with community leaders who reside in other safe jurisdictions.
I’m also expecting signing schemes where you don’t know who the actual guardians are, but you know that they are within a specific set of trusted individuals.

2024-08-09 15:05:58

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In Fediment, the mitigation is that the guardians are a set of designated known community leaders.
It seems that Sybil attacks would be more of a risk in anonymous federations.

2024-08-09 14:10:08

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Is Fedimint not a scaling solution?

2024-08-09 13:25:46

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The blocksize needs to stay small. It was increased to ~4 MB and already the chain is becoming difficult to sync for small nodes. Everything has trade offs but the highest priority should be that anyone can run a node. This gives the chain the greatest potential defense against nation states.

2024-08-09 03:45:38

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Lightning is custodial too, isn’t it. No, really, think about it. What percentage of lightning usage is self-custodial? Weren’t you doing Mutiny? Does self-custodial lightning actually work for plebs?
You want to include a technology that you don’t know the limits of. If you do, please explain the limitations. Explain why it can’t be abused. Don’t you think this is something we should know?
Why do you claim to know why Satoshi removed it? What were his reasons?

2024-08-09 03:34:21

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Lightning is the only layer?
Umm…
1) Liquid
2) Fediment
3) Ark, and all the other R&D underway.
As an engineer, do you think it’s a good idea to enable powerful technology IN THE BASE CHAIN that has few known limits so essentially nobody knows how it could be abused?

2024-08-09 03:22:29

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It’s not about shitcoins.
How do you know why OP_CAT was removed?
As an engineer, do you think it’s a good idea to enable powerful technology IN THE BASE CHAIN that has few known limits so essentially nobody knows how it could be abused?
Satoshi’s design philosophy was clearly to limit functionality to keep the system simple and safe. He made the system robust by deliberately removing codes that might increase the attack surface of the network.
It’s not appropriate to apply start up thinking - move fast and break things - to the core system protecting the world’s money and our hope for the future.
If you’re wrong, and it somehow disrupts the underlying incentives that underpin everything … how easy is it to undo it? We can’t, can we?
How I see it:
+ Devs are humans. Even the smartest among us are not omniscient and make mistakes (eg witness discount).
+ All code has bugs. Even if the code is technically bug free, it can still change the complex incentives that make the network work.
+ We don’t have a scaling problem yet. When we do have one in the future, we should allow the pain of it to motivate innovation on upper layers so that we can avoid any unnecessary changes to the base protocol.
+ We should only allow changes to the base protocol that safely fix an existential problem that we know cannot be fixed in any other way.
+ The Bitcoin network is for many, many future generations. We need to think long term and not rush out changes to the core protocol. A decade or two to consider options is a blink of an eye in the life of the network.

2024-08-08 14:00:12

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My theory is that many people are sensitive to herbicides, pesticides, and mycotoxins on the plant-based food supply. One of my family (a nutritionist) just did a toxin test and we were shocked at how high some of the toxins were. This person eats a mostly organic omnivore diet.

2024-08-07 19:44:38

You’re a neighbor if you send over food when someone is sick, help others when they need something, and watch over your community.
You’re a socialist if you feel entitled to your neighbor’s property and send over armed individuals to take it on threat of violence. #note1v96…lfvz

2024-08-07 17:42:00

Enjoyed the listen, but huge missed opportunity to dive into the core controversy #note1vf5…suwu

2024-08-07 15:36:37

⁉️ #note1sm7…7ues

2024-08-07 06:21:35

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High level, my sense is that there really isn’t a global economy anymore. The entire system is just corporations dependent on liquidity injections from their government. Small businesses are dying. Middle class is disappearing. Job growth is with large corporations and government. This is the heart of the dysfunction.
Luke Gromen uses a metaphor of liquidity being like a switch. They can either flip the switch on or off. They don’t have a dial to make smooth adjustments. They flick it off (as Japan just did) and the system crashes. They flick it on, and asset prices rise, causing inflation and resulting income inequality and social ills.
Every time they flick it on and off, the volatility gets worse and fragility increases. It’s like a car without brakes bouncing back and forth on a mountain road accelerating faster and faster. Eventually it will break through the guardrail and fly off the cliff. When they fly off the cliff, each country can choose either to kill their currency through inflation (fire) or kill their bonds through deflation (ice). They must choose to kill one. They always choose inflation because it’s politically easier. Japan has now reached this point. They just realized that they can no longer turn the switch off.
The US hasn’t reached this point yet, but it’s getting close. We’ll know they’ve reached it when they too can no longer raise rates or turn the switch off. In my view, the USA isn’t totally a lost cause yet, but the opportunity to recover is fast disappearing. In the US, the switch is off right now. A crisis is coming. Then they’ll flick the switch back on. It’s not clear how many remaining times they can flick the switch.
The US could solve its problems by:
- massive deregulation (cut all the unconstitutional departments), return to a republic (state powers)
- eliminate the income tax
- no more wars or empire building
- massive buildout of energy (carbon and nuclear)
- evict illegals and only allow meritorious immigration
- bitcoin reserve and banking
Theoretically possible, yes. Likely?
Bitcoin is fueled by global liquidity. As each country breaks (like Japan just did) leaving their switch permanently on and going “inflationary”, bitcoin will accelerate. Obviously won’t be straight up, but the path seems inevitable.

2024-08-07 05:16:17

BOJ is trapped. They can no longer raise interest rates.
Free money forever 🚀
https://www.zerohedge.com/markets/capitulation-yen-plunges-nikkei-soars-after-bojs-uchida-says-will-not-raise-rates-when

2024-08-06 22:37:43

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Yep, we’re definitely in WWIII. The only question is whether it will stay confined to Ukraine and the Middle East or expand the hot zones to North America and Asia too.

2024-08-06 22:36:19

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Yep, all-out war becomes more likely as domestic problems increase. Need an external boogieman to unite citizens and inflate away debt.

2024-08-06 21:33:17

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Livera, but you should bring on a counterpoint person to make it a fulsome discussion. Also talk problem and potential solutions.

2024-08-06 21:29:47

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People don’t understand the progression of how something becomes money:
1) Store of value: people hodl something because they believe it will best preserve their purchasing power over time.
2) Medium of exchange: eventually most of their savings are in it so they’re forced to trade for other things. Sellers start accepting it for goods and services.
3) Unit of account: eventually everyone is using it for trade and sellers prefer it so they start pricing their goods and services in it.
You can’t ignore the hodl stage. It’s the foundation of everything else.

2024-08-06 17:53:56

“It’s useless” - Joe should have responded, “show me another way to send a billion dollars in minutes over the internet with no censorship or seizure risk.” #note1lyd…6v6f

2024-08-05 22:07:23

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We’re entertained by the price, but we know what’s actually important.

2024-08-05 19:17:06

Unfortunately, I see this as the trend for most self-custodial lightning wallets for plebs.
In my mind, lightning is destined to be the pipes between ecash federations, exchanges, and B2B custodial lightning service providers.
The liquidity management problems and high channel management fees will keep it generally unusable for plebs. Ecash here we come. #note1rhe…yjd0

2024-08-05 15:18:09

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Depends on your age and income. The probability that this week is the bottom is quite high. No guarantees, but the risk-reward level is rising for traders. I don’t trade anymore, but in my past I would be all degen right now.

2024-08-05 06:31:08

The drop tonight looks to me like near term capitulation. Combine that with the craziness in currency markets right now, we could see a flight to safety after this selling burst ends. Max pain is starting to be up now.
Remember… Bitcoin can’t go bankrupt but their banks can. The rocket fuel of liquidity will eventually come.
Don’t leverage, just buy what you can, hang on tight and enjoy the ride. 🍿

2024-08-05 06:07:54

Still up? So is Powell 😁

2024-08-05 05:39:11

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Banksters being forced to sell. When a bankster has a liquidity crisis they sell their best things because that’s the only thing they can sell. Its exciting. Enjoy it. 🍿

2024-08-03 17:01:42

An amusing thought experiment. Since 🇺🇸 has 210k bitcoin and another 1M in taxable ETFs, that would be ~$50 million per bitcoin.
The Fed could slowly and secretly buy bitcoin up to that price and would accumulate more in the process, so the actual price target would be far less. The bitcoin price will probably hit that number eventually anyway without the Fed buying, but the Fed would end up with more bitcoin if it was the one doing the buying (other than say China or Russia).
https://bitbo.io/news/trump-bitcoin-national-debt-payment/

2024-08-03 03:34:45

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People have all sorts of internal experiences. Perhaps they hear voices that aren’t there. Perhaps they believe that they were some reincarnated historical figure. I’ve even known someone who went around telling people that they were a descendant of some billionaire family (they weren’t).
It’s not reality just because it’s in your head.
It’s fine to pretend you’re something or someone else. But it’s a dysfunctional mental illness if you can’t distinguish reality from fantasy.

2024-08-03 02:21:26

Just chatting with family about this. Women need to stand up for themselves here too. I believe if women protested and walked out of the Olympics, they would find allies with most of the men and this crap would be over the next day. Hopefully tools like nostr can help connect like minded women to realize they’re not alone. #note1dpj…q2g5

2024-08-03 02:05:15

https://3dprint.com/302100/myanmar-rebels-rely-on-3d-printed-guns-to-fight-military-junta/

2024-08-02 22:32:59

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Whats happening to women boxers in the Olympics is incredibly unfair and shameful. Hopefully this ridiculousness will move more people worldwide to push back.

2024-08-02 22:23:44

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#note1mm2…s3fr

2024-08-01 18:45:38

There is no such thing as gender identity. It’s literally just superficial media stereotypes taken to a ridiculous extreme.
“I don’t feel like a woman” means “I don’t match Disney’s princess stereotype”.
Also, men don’t become women by dressing up as Disney princesses either.
It really is ironic how woke idiots say they want to be themselves by trying to resemble some character they watched on TV. #note1a25…p58m

2024-08-01 15:44:09

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Brilliant! Nobel Prize 🏅 coming your way soon. 🫡

2024-08-01 14:58:41

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I suspect the “felon” strategy is coming from Alex Soros. In my mind, that would explain how out of touch the strategy is.

2024-07-31 19:17:52

For people paying attention, bitcoin’s utility for countries is now in sharp focus.
It’s fascinating to watch it burrow deeper into national financial systems, adopted by countries to further their own self interests.
It’s like a Trojan horse. It’s early but I believe that we can see now how the path eventually leads to the separation of money and state, which could have a profound and positive impact on humanity.

2024-07-31 17:25:38

Expecting that we’ll eventually see Russia charge a premium for oil in fiat currencies.
The advantages for Russia are incredible. Instant final settlement, no censorship, no seizures, no need to buy treasuries or invest in international bonds, no need to physically transport or verify gold, etc. #note1pz8…hh6r