Good morning from Thailand 🌴 #siamstr

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Hello friends

New post on my blog expatriotic dot me about using Bitrefill to unbank yourself.

A Blog by Expatriotic

Bitrefill: Spending in Bitcoin

Bitrefill is a leading crypto e-commerce store that allows users to 'Live on Crypto' by purchasing digital gift cards, eSIMs, and phone refills wit...

Ate a beaver tail for the first time today. Not bad. @npub16djx...khtp 🦫🍁🇨🇦

_Good Morning_ ☕ 📖 🌞 Dedicated Cost Principle Dedicated Cost Principle: Only necessary costs by miners contribute to double-spend and censorship resistance. Unnecessary costs, like those from misconfigured machines, are wasteful and do not enhance security. Energy Efficiency Theory: Suggests adding non-dedicated costs to mining, like the discovery of prime numbers, to make PoW more efficient, assuming these have marketable value. However, this theory is invalid as the same efficiency could be achieved by basic PoW with separate operations for marketable products. Brewer Analogy: Just as brewers can sell their grain byproducts to farmers, improving efficiency by turning waste into value, miners could theoretically offset mining costs with marketable byproducts. But necessary net costs must still match the reward due to competition. Byproduct Value: Costs dedicated to producing independently-marketable value can be offset by selling that byproduct, making them not truly a cost to the mining process. Merged Mining: Often used to boost new coins' hash rates but fails to secure them as the hash rate isn't dedicated. The full cost of the hash rate can be recouped by selling it on one chain, allowing for censorship on others without cost. **Cryptoeconomics by [Erik Voskuil](https://github.com/evoskuil).** *The book can be found on [GitHub](

GitHub

Home

Bitcoin Cross-Platform C++ Development Toolkit. Contribute to libbitcoin/libbitcoin-system development by creating an account on GitHub.

The rest of the summarized chapters are at

A Blog by Expatriotic

Summary of Cryptoeconomics by Erik Voskuil

Erik Voskuil's Cryptonomics offers deep insights into cryptocurrency economics, covering topics from Bitcoin's monetary policy to the implications ...

My new setup is full intensity "Night Light" mode + greyscale "Color correction" using @GrapheneOS I'll never go back. So easy on the eyes. Put my work monitor on greyscale mode also + 50% intensity Night Light on the computer. 100% made it too dark and low contrast (muddy)

You can just sell sats at 9% markup on Peach and then buy back at -1% discount on @Bisq. Best part is that until your order is taken on Peach you're only exposed to Bitcoin... GBP buyers seem most willing to sell sats at -1% premium IMO

_Good Morning_ ☕ 📖 🌞 `Debt Loop Fallacy` - **Debt Loop Fallacy**: Theory suggesting modern state currency isn't actual money but a money substitute, a claim for borrowed money, leading to a conceptual loop. - **Fiat as Money Substitute**: Claims are for a definite amount, but this leads to circular reasoning as the value is defined by what the state will accept in trade. - **Nature of Money**: Money represents what it can be traded for, not an intrinsic value. Fiat differs from commodity money only by presumed lack of use value, which is subjective. - **Invalid Theory**: A claim cannot be for itself; holding the claim satisfies the claim, making it money, not a debt. Thus, the theory is invalid. - **Transition to Fiat**: Occurs when representative money loses redeemability, as with the U.S. Dollar in 1934. - **Money Substitutes and Debt Regression**: - **No Regression**: Direct money (e.g., Gold, Bitcoin, modern U.S. Dollar). - **Single Regression**: Representative money (e.g., redeemable U.S. Dollar). - **Finite Regression**: Indirect claims with a finite chain of settlements. - **Infinite Regression**: Theoretically impossible; a claim must end. - **Conclusion**: The "debt loop" is essentially a description of money itself, not a fallacy, as money substitutes eventually become money when claims settle or are circular. **Cryptoeconomics by [Erik Voskuil](https://github.com/evoskuil).** *The book can be found on [GitHub](

GitHub

Home

Bitcoin Cross-Platform C++ Development Toolkit. Contribute to libbitcoin/libbitcoin-system development by creating an account on GitHub.

The rest of the summarized chapters are at

A Blog by Expatriotic

A Blog by Expatriotic

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