STRC will cause deflation, not inflation
Central banks increase interest rates (by selling Treasuries) in order to discourage the creation of credit. They do that in order to decrease inflation
STRC will be seen as the de facto interest rate and therefore it will discourage credit creation
So even if the US government prints money, the credit destruction in the banking sector could lead to a net decrease in the money supply
SatsAndSports
npub1zthq...xm56
Into bitcoin, specifically cashu.
When I'm not working in the fiat mines, I'm into cycling and camping
I've been a bit lazy on open source in recent weeks, mostly due to needed recovery after all the excitement at @Sovereign Engineering 😀; I'm too old to create and demo six new things in six weeks.
But I think my strength is recovering again. I'm attending meetings and spamming Github with multiple comments on other people's PRs.
(I'm being active without really solving problems, but I guess I need to restart somewhere 😀)
I finally set up my work laptop to use AI for coding
Since September, I've spent a lot of my work time actually coding for Bitcoin on my personal laptop, but I should remember to do fiat-mining too
It took a lot of hacking to get a good setup funded by my employer, but it's working now. OpenCode, using my employer's Copilot subscription to get access to Opus and GPT and so on
(But I won't use that for any Bitcoin stuff, I don't want any complications around rights to the open source code that I write)
For those who are in conventional fiat-mining jobs, what's your setup and does your employer give you enough tokens
An idea for @FIPS , to allow more (transitive) signing within ancestries, while retaining the obfuscation/privacy benefit of hiding the 'real' npub:
TL/DR: the node_addr should be a tweaked public key, not just an arbitrary hash of the pubkey key.
Your node has a keypair: the secret s and the corresponding public key p. We usually see the p in it bech32 representation (npub...)
Currently, the node_addr is the (first 16 bytes of the) sha256sum of the pubkey. I propose to change that
First, define a tweak:
t = sha256("FIPS_node_addr" || pubkey)
Then we have a tweaked pubkey
p' = p + tG
and the corresponding tweaked secret (don't forget BIP-340), which will allow your node to sign for p' just as easily as it can sign for p.
Now, let's define the node_id as p', and the node_addr as the first 16 bytes of that.
With this scheme, if my node tells you that my ancestry is
[node_id(me), node_id(A), node_id(B), node_id(Root)],
then the ancestry will include multiple relevant signatures. You won't directly see the pubkey B, but you'll B'=node_id(B). And you will see a signature by B' that it's parent is node_id(Root).
Of course, signatures don't prove that all the data is genuine. But over time, we can see which node_ids are reliable and which are not. For example, the signature will stop a hacker from pretending that you (a reliable) node has selected the hacker as its parent
First time this year cycling and camping
Not an interesting location, just a good way to spend a long solo weekend


I hope my French friends don't see this by me, where I share a little of respect for their ability to be reasonably independent and successful and important things. For example, space flight and nuclear energy
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I'll try again to improve my French. Randomly started this today to see if I still remember any French
I have a vague idea to return to Switzerland when I retire, for the mountains, so I guess I should improve my knowledge of one of their official languages

ARTE
L'odyssée des minéraux - Regarder le documentaire complet | ARTE
De la conquête du cuivre, du fer et de l’or jusqu'aux terres rares, cette odyssée à la fois poétique et scientifique, entièrement tournée e...
I've been watching a lot of videos about the Apollo missions, especially this Youtube channel. Great channel.
Don't just watch 11 and 13, the others were very interesting! 12 was particularly good
I find it interesting and funny that a lot of extremely low-quality attacks on Bitcoin are happening simultaneously.
I want to emphasize how pathetic they are, as if the conspirators have run out of ideas and are just funding any random shit they can find as they realize Bitcoin is essentially unstoppable now (thanks - I think - to the great progress around L2s):
1) Paul Sztorc will hardfork in August, and add his drivechains to it: https://xcancel.com/callebtc/status/2047670709447454777
2) The dumbest quantum FUD, where somebody won a (fake?) prize of 1BTC for a method that literally had zero (non-uniformly-random-noise) input for a quantum computer: https://xcancel.com/_jonasschnelli_/status/2047765988624744811
3) and of course, Knots/BIP-110 which is literally designed to make life difficult for small miners and to bloat the UTXO set with fake pubkeys.
I'm kinda new to being knee deep in all the Bitcoin news and lore. Are there always so many pathetic attacks?
Loving Lyn Alden's sci-fi book "The Stolguard Incident".
Just halfway through now. So many topical themes coming together nicely
And characters that I care about!
@Lyn Alden