On the question of leadership in governance / consensus systems:

Bitcoin has leaders of narrative, but not of action. Those are enforced by the individual.

Democracy and other systems give power - and power is not easily removed...

Bitcoin's governance model demonstrates how to have the most ethical of consensus systems in a globalised world connected by the Internet.

Changes are voluntary opt-in and entry and exit is permissionless.

When you enter the system, all rules are clear and open before you do so. No one will force you to enter.
You do so voluntarily based off the knowledge you have.

If a change happens, you may stick to the rules you consented to on entry (backwards compatibility)

"As most global reserve is in fiat, a failure in the reserved fiat will propagate through all state monies. Such a failure can be mitigated neither by transition to another sovereign's fiat nor gold and/or silver. Trade is largely electronic and metals do not travel over computer networks. In other words, Bitcoin is the only money that can resolve a currency crisis in the modern global reserve without a catastrophic global contraction of trade."



The more we can educate and onboard new users in using CoinJoin compatible wallets, the stronger the ecosystem as a whole becomes with increased 'herd immunity'! 👍


When it comes to enforcing a law that criminalises behaviour of a huge number of people, personal protection means increasing the amount of resources it takes to catch YOU compared to 'low hanging fruit'.

An old joke as an analogy:

2 hikers stumble upon an angry bear in the woods. 1 hiker sits down and takes off his boots and starts putting on his running shoes.
The other says, 'What are you doing? You can't outrun a bear!'
'I know that! I just have to outrun YOU!'

Agreed! Very sensible to be prepared for the Black Market phase as outlined by Eric Voskuil's Other Means Principle github.com/libbitcoin/libbitco

Lessons to be learnt from P2P file sharing: Lots of my friends received warning letters from IP lawyers and ISPs because they didn't use VPNs.

For Bitcoin it means using DEXs like @bisq_network, privacy enhancing wallets like @samourai_official and Wasabi Wallet, and remember VPNs and Tor as well as pseudonymous accounts.

When nocoiners say states aren't attacking Bitcoin because it is insignificant, it rings false, when you see what happened to E-gold.

E-gold was crushed in 2006 due to the Patriot Act. It was processing $2B per year.

Bitcoin processes over $2B per DAY.

It's because they CAN'T.

If something costs nothing to create, then it costs nothing to inflate.

Sending BTC can be less stressful than bank transfers.

In a bank, your funds are 'gone' from account while you await recipient to receive.

In Bitcoin, UTXO is either encumbered with your or receiver's pubkey in the blockchain. The transfer of ownership happens in that instant.

A Bitcoin tx is transparent at all times, visible in the mempool vs the opacity of bank transfers.

That UTXO is still *yours* until recorded in the ledger.

Bitcoin allows a 'silent revolution'.

You do NOT have to rally to the streets, virtue signal, convince everyone, use force, etc.

You just have to educate yourself, understand the technology and economics, and then allocate your savings.

It's NOT democracy. It is OPT OUT.

Great episode of @stephanlivera podcast with @beautyon !

A needed perspective on remembering to keep a laser focus on Bitcoin's use case.

The more we talk about the Ideology and politics around it, the more adversaries and attack vectors we create.

Bitcoin is code. It is a public database which solved the issue of digital scarcity.
It is a tool that serves its users and no other master.

Legal precedent states code is speech and speech is protected. Let's not forget.

Ok so now the Venezuelan government has instructed banks to request information for citizens travelling out of the country. If you access your bank account from an IP outside of Venezuela, the bank can freeze your account.

I just published "Gravity", first part of a series of 4 articles about Bitcoin's PoW, its properties and its efficiency.

One of the most frequent questions we get is: Why doesn't Tusky support push notifications?

Because pushing to devices would require us to use proprietary Google libraries and to run a relay server. But we want Tusky to be pure FOSS (free and open-source software) and don't want to send any data to Google so we decided not to implement push notifications at this time. We are researching other possibilities to make notifications faster though.

Considering how previous revolutions throughout history have almost always led to blood in the streets, I count myself lucky that I am alive in the era of the cypherpunk.

Even those who were pacifists with MLK Jr or Ghandi, were targeted for violence and death and the change was decided by those in power.

Cypherpunks write code, which are better tools, which allows the individual to hide & 'opt-out' of tyranny and force power to join or go obsolete.

@nic @waxwing

Really interesting and I think there's lots to learn by looking at the battle of 'Freedom of Information' in the file sharing battle with the state and how it compares to the 'Freedom of Money' battle going on now.

Backus' research is good reading and had me thinking (alongside Voskuil's Cryptoeconomics section on libbitcoin) on the subject of decentralisation pressures


MSM keeps talking about 'energy use per transaction' in Bitcoin as if the purpose of PoW was to facilitate transactions only.

Bitcoin's PoW is the most secure digital *vault* on the planet.

Bitcoin's PoW is the most secure against inflation & counterfeiting on the planet.

Compare this to fiat server racks in a world that is increasingly digital and distrustful of each other - the energy expenditure in Bitcoin is a market *demand* to protect wealth against theft from *anyone*

SLP13 - Bitcoin as ultimate asset, with Fernando Ulrich

I really enjoyed our discussion:
- monetary crises in Brazil
- 5 part article series
- fallacies of MoE only cryptos
- Menger vs Szabo
- Gresham's law vs Thiers' law



Their upcoming IPO makes a lot more sense now.

They have been propping up bitcoin cash price by (1) requiring ASIC purchases to be made w/ bch (2) not selling the bch they earn (3) actively buying bch with btc and (4) protecting the chain from 51% attacks.

As a result, Bitmain currently has a ~$500M bag of ~1M bitcoin cash that they can't sell without cratering the price. Even just selling a fraction could spook the bch market.

The IPO is a way of 'selling it' without selling it.

Show more
Bitcoin Mastodon

The social network of the future: No ads, no corporate surveillance, ethical design, and decentralization! Own your data with Mastodon!