Nostr: “4 in 5 Americans can’t possibly want the U.S. to swap > 0% of their gold for bitcoin. You are full of shit!” Meanwhile, more Americans own bitcoin than gold.

4 in 5 Americans want some US gold reserves converted to bitcoin.

She’s wearing a very nice bitcoin orange here, I’ll give her that.

GM nature is healing.

Someone please host these libraries and charge sats for downloads. No junk and ads and delays and captchas to monetize. Just money. View quoted note →

Silk Road hoodie arrived today from @strike.

Been thinking about Dhruv Bansal’s idea that bitcoin are not produced or generated — wrong way of thinking about it induced by “mining” metaphor — but rather all bitcoin existed from the moment the network was launched, but are auctioned off to miners as a whole, in exchange for hashes (compute), on an auction schedule of 140 years or whatever it is. Each miner decides to take the network’s offer or not, by running their machines or not. Collectively, they determine how much that latest round of auctioned bitcoin is worth, in hashes and/or in energy. Then there’s another market on top of this one which is coincidental but distinct, and that’s the market for block space, where the sellers are individual miners and the buyers are would-be transactors and of course that’s sat/vbyte. I really do think it’s more accurate than thinking of bitcoin miners as “producing” bitcoin the way a manufacturer produces a product like cars or even discovered like gold miners discover gold. The bitcoin, all 21 million exist, just not on the ledger, from the get go. They only need to be auctioned, like treasuries. We don’t think the bidders on treasuries produce the 10-year! It’s just a weird auction mechanism where you have to prove work and your odds of winning the auction are proportional to your work / the total work by bidders. I do get it and I think it’s right and I think it helps with a lot of misconceptions once you grok it fully. And as Dhruv says it shows you the formula for how bitcoin disrupts everything which is by making markets where there weren’t any, and building layers of distinct markets, including lighting and eventually the internet. So, good job Dhruv. But… it is not so easy to communicate is it? This thing is bloody hard to explain, as someone said once.

Let’s get the former Mayor of Caracas a sizable following on here, yeah? View quoted note →