BTCapsule 🏴's avatar
BTCapsule 🏴
btcapsule@nostr.report
npub1v6xw...xk5t
You should probably block me
The fact we can still afford to DCA Bitcoin and move it to cold storage means we are so early. In the future, as Bitcoin scales to billions of people, it will be impractical to move $50 because the fees might be $500. Of course, if you have $500 in BTC now, you will be able to move it because your purchasing power will increase. However, for future savings and generations, cold storing Bitcoin on L1 will be too expensive for us plebs. So we must choose the most decentralized L2 solutions, or keep all our savings on a custodial lightning wallet.
I’m very confused about drivechains causing miner centralization Drivechains incentivize the miners to mine. That’s PoW and a free market. Miners make money, more people join, and mining is decentralized Restricting trade is how governments create centralization. Drivechains are possible, but they are restricted right now. The current plan is to let small miners drop off, wait for difficulty to decrease, and hope Bitcoin pumps after the halving so the bigger miners can get richer. It is likely Bitcoin will pump after the halving, but this is a gamble. Austrian economics teaches there is nothing intrinsically valuable about the halving or Bitcoin. That is Marxism. Regardless, mining will become more centralized. Something isn’t right image
I want Bitcoin to separate money from the state I don’t want Bitcoin to be a rock I can cash in for CBDC tokens
If there is a soft fork in #bitcoin and transactions are made, then miners will mine the blocks, and nodes will verify. The longest timechain continues. If someone else comes along with another soft fork, but their soft fork doesn’t include the newest upgrades, then that is actually a hard fork. Unlike the blocksize wars, it’s possible this hard fork could pump very quickly. BlackRock has already said if the chain splits, they may not choose the "real Bitcoin". I’m worried we might be put to this test soon, and our desire for fiat will battle against our love of freedom. Please don’t fork off of Bitcoin 🙏🏻
I want to talk about #Liquid I appreciate what @Blockstream is attempting to do, and I can definitely see the benefits of Liquid for businesses However, I think there are two major reasons why Liquid is not seeing much adoption with plebs: 1. There are only 15 "functionaries" that are able to peg you out. I understand this is a technical issue, but still very centralized. 2. Liquid offers "confidential transactions", but this is much different than "private transactions". Confidential means Liquid "hides both the type of assets and amounts that are transacted", but according to the website: "The addresses of senders and receivers further remain visible as well and can be retraced like on the Bitcoin blockchain." This means the government can still track payments, so Liquid wouldn’t help much if we need to support Canadian truckers. Liquid is a great legal business, but the argument to "just use Liquid" for cypherpunk money is not good advice.
The Crypto Anarchist Manifesto Timothy C. May tcmay@netcom.com A specter is haunting the modern world, the specter of crypto anarchy. Computer technology is on the verge of providing the ability for individuals and groups to communicate and interact with each other in a totally anonymous manner. Two persons may exchange messages, conduct business, and negotiate electronic contracts without ever knowing the True Name, or legal identity, of the other. Interactions over networks will be untraceable, via extensive re-routing of encrypted packets and tamper-proof boxes which implement cryptographic protocols with nearly perfect assurance against any tampering. Reputations will be of central importance, far more important in dealings than even the credit ratings of today. These developments will alter completely the nature of government regulation, the ability to tax and control economic interactions, the ability to keep information secret, and will even alter the nature of trust and reputation. The technology for this revolution--and it surely will be both a social and economic revolution--has existed in theory for the past decade. The methods are based upon public-key encryption, zero-knowledge interactive proof systems, and various software protocols for interaction, authentication, and verification. The focus has until now been on academic conferences in Europe and the U.S., conferences monitored closely by the National Security Agency. But only recently have computer networks and personal computers attained sufficient speed to make the ideas practically realizable. And the next ten years will bring enough additional speed to make the ideas economically feasible and essentially unstoppable. High-speed networks, ISDN, tamper-proof boxes, smart cards, satellites, Ku-band transmitters, multi-MIPS personal computers, and encryption chips now under development will be some of the enabling technologies. The State will of course try to slow or halt the spread of this technology, citing national security concerns, use of the technology by drug dealers and tax evaders, and fears of societal disintegration. Many of these concerns will be valid; crypto anarchy will allow national secrets to be trade freely and will allow illicit and stolen materials to be traded. An anonymous computerized market will even make possible abhorrent markets for assassinations and extortion. Various criminal and foreign elements will be active users of CryptoNet. But this will not halt the spread of crypto anarchy. Just as the technology of printing altered and reduced the power of medieval guilds and the social power structure, so too will cryptologic methods fundamentally alter the nature of corporations and of government interference in economic transactions. Combined with emerging information markets, crypto anarchy will create a liquid market for any and all material which can be put into words and pictures. And just as a seemingly minor invention like barbed wire made possible the fencing-off of vast ranches and farms, thus altering forever the concepts of land and property rights in the frontier West, so too will the seemingly minor discovery out of an arcane branch of mathematics come to be the wire clippers which dismantle the barbed wire around intellectual property. Arise, you have nothing to lose but your barbed wire fences! image