BOLT12 and phoenixd up and running! 😎 #bitcoin #phoenixd

Comes close to the truth

Comes close to the truth

Remember when Visa and Mastercard shut down the possibility to support WikiLeaks (and Julian Assange?) This is but one example of (mainly the US) using the financial system as an extra-legal weapon. You will have no freedom without the #freedomtotransact! #bitcoin

🇸🇪😎 Öland right now! The Bitcoin Gallery has opened for a third season! - Do you want to know how money is created? - Where inflation originates? - Or learn a bit about what is different with Bitcoin? Then you are welcome to Sweden’s first physical Bitcoin gallery in the middle of UNESCO's world heritage site Södra Öland’s agricultural landscape. #sverige #öland #Kalmar #inflation #money #bitcoin

🇸🇪😎 Öland just nu! Bitcoingalleriet har öppnat för en tredje säsong! - Vill du veta hur pengar skapas? - Var inflationen kommer ifrån? - Eller lära dig litet om Bitcoin? Välkommen till Sveriges första Bitcoingalleri, mitt i världsarvet Södra Ölands odlingslandskap! #sverige #bitcoin #öland #kalmar

Gm!

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SwiftOnSecurity (@SwiftOnSecurity) on X

“Moravec's paradox is the observation in artificial intelligence and robotics that, contrary to traditional assumptions, reasoning requires very ...

Should money be made "real" again? Why is counterfeiting problematic? Most respondents to such a question would likely come up with the following answers: 1) it could undermine trust in the financial system, 2) counterfeit money could fund criminal activities, 3) counterfeit money could cause inflation. (Historically, inflation referred to an increase in the money supply, unlike today when economists and lexicographers have re-defined it to mean rising prices). However, these answers may overlook the bigger picture. The real problem of counterfeiting Our money holds value because we can exchange it for tangible goods, either presently or in the future. (This is why Elon Musk pointed out that "money is a database"). Money thus represents claims on the real world. Successful counterfeiting allows for the creation of new claims without anything necessarily happening in the real world. Counterfeiters can use these fake claims to purchase actual goods (such as guns, ammunition or potatoes) with something essentially worthless. Those who receive such counterfeit money will believe they have gained something real. They will also believe their wealth has increased. However, the money will eventually not stretch as far as they expect, either because the fake bills will be discovered by some forensic expert or because they will not be able to buy as much as anticipated due to future inflation. What happens to our conclusions if our assumptions are wrong? In the philosophy of science, the concept of deduction plays a pivotal role. It involves deriving conclusions from premises, ensuring that if the premises are accurate, the conclusion necessarily follows. For example, if all birds have wings, and penguins are birds, then we can infer that penguins have wings. However, if someone has sold something real - like a sack of potatoes - to a counterfeiter, the seller may assume that their real wealth has increased and act accordingly. But that’s not necessary the case! Counterfeiting can thus cause individuals to base decisions on false premises. Decisions made under such flawed assumptions are unlikely to lead to prosperity. Instead, they may result in economic stagnation or more severe adverse outcomes. The Soviet Union had Trofim Lysenko. His theories claimed that traits acquired during an individual’s lifetime could be inherited by offspring, contradicting the (more accurate) Mendelian genetics that emphasized the heritability of traits. Lysenko’s ideas influenced Soviet biology and led to erroneous assumptions and failed experiments, hindering the Soviet Union’s economic progress. During China’s “Great Leap Forward” under Mao Zedong, one intention was to increase agricultural production. However, (incorrectly) advocating for the extermination of sparrows and other pests resulted in severe ecological consequences. False assumptions then led to mass famine and diseases, culminating in one of the deadliest periods in China’s modern history. Counterfeiting will lead to mistaken assumptions Money acts as a technology facilitating human coordination and decision-making. Counterfeiting disrupts this by introducing false premises into decisions regarding consumption, investment, and other economic activities. Thus, it’s critical to address counterfeiting not just for its immediate effects but also to consider its broader implications on economic coordination. However, perhaps we should broaden our analysis even further. The central bank, as well as large corporations and billionaires (or is that Cantillionaires?) who receive favorable terms from commercial banks, will also be able to exchange newly created money for real goods (such as potatoes) in return for something that may not be worth anything. (The extent of the problem depends on how the newly created money will be used.) Karl Marx used the concept of “false consciousness” to describe how social classes can internalize beliefs that do not serve their own interests. While the term itself was never used by Marx, but by Engels , it may be applicable to our current monetary system. Marx argued that by maintaining such false consciousness, the ruling class could retain their power and control over society. Most of us now swim happily - like fish in water - amid the fiat currencies effortlessly created by central banks and commercial banks. But doesn’t this mean that we too risk drawing conclusions from erroneous assumptions, reminiscent of Marx’s idea of “false consciousness”? And if so, what does this imply for our countries’ economic prospects? The end of the Bretton Woods system accelerated legal counterfeiting Many, including Peter Thiel in his book “Zero to One” , have pondered what actually transpired around the beginning of the 1970s . Asset prices began to soar, real wage growth stagnated, technological progress slowed down (at least compared to the hopes of that time). Simultaneously, a towering income and wealth inequality started to emerge. Coincidentally, it was also around that time when the United States unilaterally and “temporarily” stopped tying the dollar to something real (i.e., gold). The end of the Bretton Woods system thus allowed legal counterfeiting to take off in earnest, arguably leading to a plethora of decisions based on invisible yet sometimes faulty premises. Without these mistaken assumptions, perhaps we could have witnessed an economic renaissance of unprecedented magnitude. “We have been naive,” is a common sentiment express in Sweden’s public discourse when something has gone awfully wrong. Could this also apply to our money? Perhaps we should consider making money “real” again? #bitcoin #fiat #banking

"So... we can lead but if people aren't following we're not going to get to where we want to go." When the commoners and plebs start to resist, the authorities start to brandish their whips. #chatcontrol

Many have pondered what actually transpired around the beginning of the 1970s. Asset prices began to soar, real wage growth stagnated and technological progress slowed. Could the surge in legal counterfeiting after the Bretton Woods collapse in 1971 be the culprit? If so, perhaps it's time to make money "real" again! #bitcoin #money #inequality #marx #counterfeiting View article →

Qubes OS! If you haven't tried it, then you should, because it's fun, and fun is good! #bitcoin #qubesos

🇸🇪🤔 Varför är falskmynteri problematiskt? Huvudanledningen är att de som förfalskar pengar kan använda dessa för att köpa riktiga saker (båtar, massage eller potatis) för något som egentligen inte är värt någonting. Om försäljarna då tror att de fått något riktigt, vilket inte stämmer, riskerar de att ta beslut grundade på felaktiga antaganden... Fast borde inte detta gälla även när centralbanker eller affärsbanker genom sina babyloniska trolleritricks framställer pengar utan egentlig ansträngning? Många har frågat sig vad det egentligen var som hände 1971, kanske var det då våra samhällen började ta stora mängder beslut grundade felaktiga premisser... Läs mer hos Affärsvärlden. #Sverige #Bitcoin

Affärsvärlden

Enlund: Det är dags att vi slutar vara naiva med våra pengar | Affärsvärlden

De flesta av oss simmar likt fiskar glatt omkring bland de fiatpengar som har skapats av Riksbanken och affärsbankerna. Gör det att vi riskerar a...

Gm!

Not even #Bitcoin fixes #Moloch note1enm8gth2rzlxxhdpy3863sh6uyyd74knt5sr4nz48hmnrwj7rdwsfsf8sz

Not even #Bitcoin fixes #Moloch

Lyn Alden

I really dislike social media algorithms and incentives. Negative stuff is what sells.

There are so many times where I sit down with a goo...

🤔 When the sophist Yuval Harari speaks about Bitcoin, he speaks with a forked tongue. - He claims that Bitcoin is about a lack of trust. But #Bitcoin is about trustlessness - i.e., not requiring trust. This is a significant difference. - He claims that the "whole" purpose of money is to create trust between strangers. That is also not true. (Banks can, however, convert dubious promises into less dubious promises). - He further claims that the money printing by banks and central banks "builds trust" (through their legal counterfeiting). It is more than a little audacious. - Trust is actually earned; it is not something that can be built, established, or proclaimed - regardless of what these people may prattle on about.

The belief that fiat money is real money is an important form of false consciousness. #bitcoin #marx

In the difference between building trust and earning trust, lies the line that separates the charlatan from the honourable. What should we make of the fact that policy makers and bureaucrats - in the face of completely shattered trust - pretend as if nothing has happened? For instance, in Canada, nearly four out of five people do not believe the central bank will care about people's opinions. (they are 💯 right). Trust is the currency of leadership. Without it, there is no leadership. - John C. Maxwell By definition then, these people are not real leaders. What are they then? They are fiat leaders. You can find more trust numbers in the link

Central bankers talk the talk, but fail to walk the walk

I korsningen av finans, krypto och samhälle

#bitcoin #harari #trust #wef

Not your keys, not your coins Not your key, not your account Not your computer, not your data

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Scott Piper (@0xdabbad00) on X

Google Cloud accidentally deleted a company's entire cloud environment (Unisuper, an investment company, which manages $80B). The company had backu...

#bitcoin #nostr #cloud

What if aesthetics is downstream from the monetary system?

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Matthew Pines (@matthew_pines) on X

The aesthetics of this annoy me. Typical gilded French grandeur offset by stale corporate boardroom furniture and a hideous carpet. I expect bett...