I’m three months into my hobby mining project. If you want to contribute some low maintenance hash-rate, the Bitaxe Supra is a beast. Fire and forget. Occasional reboots, but damn it just doesn’t stop hashing.

American policymakers are stuck in a fading framework - dollar dominance understood as the ability to manipulate currency as a tool of national power. And it isn’t Bitcoin causing this framework to fade, but rather the abuse of the very privileges people wish to maintain. While Bitcoin is neutral, that neutrality speaks to what I hope can remain core American values - the sovereign individual, economic freedom. Challenged as these values are, people are seemingly waking to the realization of the false promises of collectivization. Because Bitcoin speaks to core values, it inherently offers Americans the opportunity to benefit from this competitive advantage. The dollar system is resilient, but it is not immortal. When it comes to Bitcoin, the US enjoys the competitive advantages of values, hash rate, and innovation. Something will fill the gap left by the dollar as its role as reserve asset fades. Right now there is no clear successor. Perhaps we will stumble upon a new generation of leaders who see the possibility of filling this gap with a monetary asset that, while perhaps beyond our ability to directly manipulate, is well suited to help the American people realize a sound future for themselves and the country. And with that example, might not other like-minded countries follow? I believe there is space enough on this Earth of ours for everyone to prosper.

The horror. The horror.

Turns out Ethereum isn’t a security. Who knew?

Look what I got this afternoon!

Finished up “Lords of Easy Money” this weekend. Great look into the origins of the unfolding financial train wreck we’re living through today.

I’ve been using venice.ai for a few days, both chat and image. It’s great. I’ve also run some thornier questions past it and ChatGPT and Gemini. As advertised, Venice provides straight forward answers without the sensitivity knee and elbow pads. Plus, it is decentralized and doesn’t store your data. Looking forward to seeing where the team takes it next.

If the ETH peoples are happy with their ETF, I have no malice and wish them no harm. But what I really love is knowing that Gary Gensler will never have his name on the dollar as Treasury Secretary. Yes, he did Warren’s bidding, and she’ll likely remain in the Senate. But Gary embarrassed a lot of people. Gary is done. Negative incentives aren’t a great way to structure your life….but this is just delicious. Delicious.

Good time should you have some housekeeping to take take care.

It was a good week for Bitcoin on the policy front. But this was just one week. We need to take advantage of this momentum to force vulnerable candidates to take public positions - and punish those who oppose financial freedom and inclusion at the polls. Stay frosty, friends.

More and more macro analyst are referring to emerging market dynamics as they look at the US financial markets - fiscal dominance, lingering inflation, politicized institutions.

I’ve had about enough of companies nickel and diming me with fees, charges, etc. But as I rage quit service after service, company after company, I’ve realized how much BS has been force fed to me as things I allegedly needed. It’s my own fault, no one made me buy all this crap. But taking the off ramp feels great.

This is a significant culture shift. At least for the next few months, let this be the issue that holds the breadth of the Bitcoin community together. Internal battles can renew in mid-November. But for now we need to focus on the exogenous, existential threat to Bitcoin in the US - the current administration.

It is unreasonable to say in one breathe that politicians are self-interested, but then to say that your voice carries no weight. A great example is the very competitive Senate race in Montana. Incumbent Senator Tester supports Elizabeth Warren's bill. But in this close race, softly held beliefs are easily tested. If you live in Montana, call you Senator and let him know what you think of Warren's Digital Asset Anti-Money Laundering Act. And if you think vulnerable incumbents aren't flexible, take a gander at this.

Vulnerable Senate Democrat backs Laken Riley Act after calling border crisis ‘unacceptable’

It is wise to be judicious with your trust when it coms to politicians, but Rep McHenry has been a good friend of this ecosystem for a long time. Keep these kinds of things in mind in November. And if you choose not to vote, then maybe you think it would be great if Gary Gensler became the next Treasury Secretary.

I know I said no more home mining posts, but I have to say this little Bitaxe is completely dialed in. Consistently running 600-750 gh/s, 12.6w, steady at 53-55C, and only an occasional reboot. Purring like a kitten. View quoted note →

“Le Fabuleux Destin d’Amelie Poulain” is a profoundly beautiful movie. If you’re able, watch it in French.

Spent some time this evening nerding out a bit on the difficulty adjustment. It’s hard to even begin to appreciate the depth of foresight Satoshi demonstrated with just this one system attribute, let alone the cohesive whole. Remarkable.

A recent WSJ piece, “Biden Races to Trump-Proof His Agenda,” speaks partially to why we should all expect significant regulatory action targeting the industry for the remainder of the year – but only part of the story. Two years ago one might have concluded that Congress was, if not friendly, then at least ambivalent toward Bitcoin, but Elizabeth Warren has changed that dynamic. I still believe most members are ambivalent, thus supporting Warren’s crusade earns them political chits while costing them nothing politically – hence the bipartisan support of the bill. But in this current Congress, you might say, Warren’s legislation is going nowhere. Probably true. But here’s the point many miss - without a political risk to candidates in tight races, partisan regulators are free to attack the industry w/o risking political damage. If candidates in key races started paying a political cost for their support of this crackdown, you’d see the heat on the industry promptly dissipate, as they kept their powder dry for what they hope will be a more sympathetic Congress next session. The disadvantage people who actually believe in something bear is the conviction that, if others only understood, they would come around to your POV. Unfortunately politics functions differently – power and influence, this is what drives decision making. This is about as good a time as any to turn that conviction into a political voice. @jack mallers @jack @ODELL @Peter McCormack

@jack mallers Epic, epic broadside against the fiat system and elevating the moral virtue of saving, stated with moral clarity along with sprinkling of befitting outrage. Worth a listen.

Apple Podcasts

EP.20: Bitcoin called bullshit on the Fed

Podcast Episode · The Jack Mallers Show · 05/06/2024 · 1h 6m