GM ☀️

Happy Easter to all of Nostr world. Touch some grass today and look up at the sun.

You think Bitcoin uses “too much energy”? Your Netflix binge uses more energy in a month than a small African village. And for what? To rewatch Love Is Blind while Jerome Powell reverse-engineers the Roman Empire’s collapse using a Dell from 2007. Bitcoin is economic gravity. It costs what it must. Bitcoin is the first money system that doesn’t depend on lies, narratives, or Davos seminars. It depends on physics. This isn’t a “belief system.” It’s a physics-based reality engine. Every believer becomes part of the network. Every doubter funds the next block

Before and after. Which one looks better to you? Credit @Ross Ulbricht

We're using bits to reopen innovation in atoms, because innovation in atoms has been blocked by regulations, which are created by the US establishment and exported all over the world through harmonization. The network state uses digital technology to gain sufficient consent in the cloud to build a community, crowdfund territory, and eventually gain recognition as a sovereign polity. Once we do so, we can return innovation to the physical world.

The Internet is to the USA as the Americas were to the UK.

So: In a "network state", the network is the lives of the people (national network), the land (metaverse subnet), the law (governance network), and the Leviathan (Bitcoin network) all packed into one. It's the people, the digital territory they occupy, the rules that bind them, and the power that enforces those laws.

Wait, aren't we supposed to know how much bitcoin the United States owns by now?

My goal is to earn zaps and then spread those zaps out towards quality content. That said, I am running low and if you zap this post you will be helping me spread zaps. Worth a shot 🤷

I hate the mother fucking warriors

If printing money is your only solution, I'm going to own the scarcest asset I can.

Inflation is legalized time robbery

Treehouse is my favorite. There is nobody else better. #Beerstr

Coffee please

I asked one of my old Trad Fi friends for his opinion on Bitcoin. "It's worthless", he said. "I know", I replied. "But let's hear it anyway"

The Triffen dilemma was created as an excuse to defend money printing and trade deficits, government needed cover to support its actions.

(Mining as a commodity): Think of mining as something to purchase, rather than something to do. For example, you could hire a mercenary mining provider to work on a header containing the transactions of your choice. You could evaluate quality-of-service by asking the mining-provider to show you blocks-that-didn’t-quite-win, in addition to the winning blocks - similar to shares in p2pool. The point of these two assumptions is that an attacker can purchase a quick “burst” of B blocks worth of hash-energy for the same price it would cost a miner at the normal rate. In this model, the attacker might temporarily wield much more hash-power than the rest of the network. Using the same $283 billion annual mining budget from the paper, a 7-block attack would cost an expected $30 million. What would you do if you could summon a 7-block fork on demand? Well, MtGox (and pretty much everyone else) waits for 6-blocks of confirmation before making an irreversible decision. A profitable attack target might be to deposit $33 million worth of bitcoin into MtGox, withdraw it after 6 blocks, then rewind the network and double-spend the original $30 million back out. Expected profit: $3 million (%10 return). Since the attacker has a finite budget, then any attempt at producing a fixed number of blocks has a chance of failure. Potential downside: -$B if the attacker spends the entire budget without finding a 7th block. Potential upside: up to $33 million if the 7-blocks are found much faster than expected. This is the model of “gambler’s ruin”. Attacks of this nature might be profitable in the long run, but a losing streak leads to bankruptcy. Andrew Miller 9/7/2012

If Bitcoin was a cult it would be the only one in the world where its members would be invited to think for themselves and not trust any other members.

“Bitcoin is not a get-rich-quick scheme. It’s a get-rich-slow, stay-rich, build-civilization-back-up-right scheme.” - SA

Someone send me 300 SATs so I can get @HODL to follow me. 🤙