Oscar Pacey

Ooh, that wasn’t a bitcoin event, it was crypto. Was about 2% the size of the bitcoin event there a few weeks prior. I think that’s what the Bedford residents call the cheat code. nostr:note1xhl5725cn0sxf3xw9v85uvj8ks62x63eqf54ckptvwxqnsp0z02s7qzhtm

It’s time for Tooting

The Liz Truss mini budget panic was said to be caused by pension fund managers calling the BoE asking for intervention as they faced bankruptcy. This causality is debated, however it’s interesting to unravel the nature of the pension predicament. It wasn’t all pension funds as modern schemes should be fully funded (aside rehypothecation practices). The problem is the existing stock of Defined Benefit schemes which pay a fixed amount per year like an annuity. They invest their money in long term government bonds under a practice called Liability Driven Investment (LDI). DB funds don’t know how much they are on the hook to pay, as that depends on how long members live for, so they run statistical models, and invest ‘optimally’ to have enough value at any point in the future to pay obligations. When BoE started selling back its stock of bonds acquired via ‘Quantitative Easing’ in a process dubbed ‘Quantitative Tightening’ they devalued the market for the bonds the pension funds hold dangerously threatening their solvency. As DBs have ended the stock of them falls every day as, sadly, members of course eventually die. DB was unsustainable but there isn’t much stock of it left so actually as time goes by the pension industry is less precarious. Oscar this is NOTHING to with Bitcoin! True, but saving in a capped supply asset will give you a wicked pension. X

In celebration of Michael Saylor telling us holding our own belongings makes us the paranoid fringe, I started mining again today.

$69,420 crew back in control

Why don’t my zaps show up here? I don’t know who is playing fairy godmother.

BIG DAY FOR ME. I received my first ever zap ⚡️ which is ♾️% more than I earned on Twitter. I booted up my first bitaxe. These are the first time current(ish) generation chips have been available in small form factor for years. Shall I run it solo in lottery mode or contributing work to a pool?

Signals a bit too high on nostr, needs more noise. Who shall I follow?

Failure to respond to this post by midnight will result in a fine of £60, reduced to £45 if paid before midnight.

At a bitcoin conference Guess what the currency is here Cigarettes So funny (New laws in Netherlands make cigs scarce as hell)

Fiat is designed to gradually debase to stimulate work. Bitcoin is designed to gradually re-base to stimulate leisure. {No, debasement doesn't mean filing in your basement with gravel, and rebasement doesn't mean digging it out again - that's not leisure time}

Fiat is designed to gradually debase to stimulate work. Bitcoin is designed to gradually re-base to stimulate leisure. {No, debasement doesn't mean filing in your basement with gravel, and debasement doesn't mean digging it out again - that's not leisure time}

Careers fair: I want to make a lot of money Get into banking I want to store my new money somewhere Put it in a bank How much will that cost me? Nothing What? Yes, banks dont charge to safeguard your money So how did I make all that money in banking? You printed it NEXT!

OMG I’ve just realised there’s poo in the pool.

Is the solution to send him to prison, or to accept this is a popular product and legalise it? Imagine how much death would be caused if sugar was prohibited. Imagine how much economic development there has been by sugar. Stop voting for bad policy. https://www.bbc.com/news/articles/c9wkd187505o

Is anyone aware of any implementations of the FIDO Passkey scheme which have multikey/multisig auth? e.g register three pubkeys with the service, submit sigs from any two keys to login e.g register just one pub key with the service, create sig using local threshold scheme

Atomic minds, would you kindly fact check this info? A popular LLM informs me that most SMR designs are fail safe (ie HTGR, MSR). Also that if an aeroplane crash split a reactor open, no clean up occurred and you stood next to it for a month then you would receive 10 mSv which is a radiation dose roughly equivalent to: - A full body medical CT scan - 10x long haul flights And resulting in an elevated risk of cancer in later life of 0.05%. If that is true, am I missing any other worse scenarios? Can a villain use cheap methods to cause hell?

Should a government want to tax illicit economic activity more than the legitimate equivalent (because taxes are dis/incentive tools) or zero (because they do not wish to benefit from illicit activity or even have the conflict of interest it represents)? N.B. In the UK proceeds of crime are taxable under the same rules as legal income.

Wow, this is a stunning amount of efficiency progress from Bitmain and TSMC. Suggests commoditisation of ASICs isn’t as close as we thought. Their latest machine (U3S21EXPH ) is 13J/TH and runs at 860TH/s in a 3U liquid cooled rack. 100kw server rack towers possible now.

TicketMaster’s monopoly is quite an interesting case. Most examinations don’t show a regulatory moat, they just acquired/merged their way to dominance with main tool being protectionist contracts (we cease services if you ever use a competitor). However, dig more and there are multiple regulations they exploited to retain dominance: - Claiming copyright over etickets to prohibit 3rd party secondary markets and private resale. - BOTS act 2016 both inhibits touts (secondary market makers) and is costly to implement for firms. - price floor laws (in some locales) prevent others from undercutting - GDPR (and equivalent) has been costly to implement for these consumer data intensive services. There are always laws, often ‘consumer protection’ oriented like the above, which get exploited by the large to crush the small and become the giant. I don’t have enough info yet to claim it was these laws which enabled TM/LN’s malignant monopoly, but they obviously helped and my suspicion is always that regulatory moats are essential. Does any one have more insights in the case? nostr:note10kmtsgenv2fquhh3txknm6vdv99agm7jaepqc2p2k6n5dhwuht4sqy949j