One day soon.
When miners can pay their bills in BTC.
When companies can pay their employees in BTC.
When people are free to pay in BTC, for anything.
Who the fuck is going to want dollars?

Best stack yours while you can.
They ain't makin' many more of 'em, and mine aren't for sale.

To a US Senator, markets must seem so obvious. Just buy the stuff Congress is secretly planning to support/promote/subsidize, and sell the stuff they will tax/restrict/regulate. Regular people who buy and sell seemingly at random must seem so dumb...

If we can just unlock faster-than-light communications, 1 Bitcoin will eventually buy a whole planet. "Everything there is, divided by 21 million."

What happens to the "bitcoin" in people's Robinhood accounts if Bitcoin's price goes up too fast? If they're this mad about GME, wait till they realize they never actually had any Bitcoin at all...

GameStop seems like a tremor.
I feel a :bitcoin: lack swan is coming👀

If this doesn't speed up the development of robust encrypted communications channels, then I'm a ham sandwich!

I can't wait to rub the next ATH in the face all of all the noobs who panic sold this week.

I don't even want it for the gains. It's not about the money - it's about sending a message.

Don't like your sofa? Turn it into Bitcoin. Sofa value stored.

Show thread

Maybe Bitcoin isn't money. Maybe Bitcoin is what we will measure money against. Perhaps Bitcoin a standardized ruler that anyone can use to measure and/or store the value of anything.

Michael Saylor cracked the code. Hamstrung institutions can buy corporate bonds but want Bitcoin. Bitcoin backed corporate treasury bonds are the back door.

The speculative attack has begun.

How long until we can borrow against bitcoin at low rates of interest?

A wallet that someone else runs on your behalf may or may not have anything to do with actual bitcoin, but rests instead on someone else promising to handle your funds and transactions on your behalf. "Don't trust" is the first part of "Don't trust, verify." If your bitcoin is under someone else's personal control, you don't have bitcoin at all -- you have someone's promise. The eventual future value of such promises tends toward $0.

Show thread

A "Savings Account" or "Cold Storage" can build only unsigned transactions. One or more hardware wallets are required to sign these transactions for broadcast to the network.

Show thread

Often, people have several wallets: A "Checking Account" or "Hot Wallet" on an internet connected device is in full control of funds as the software knows the required seed+passphrase. The hot wallet can build and sign transactions by itself, without requiring a separate device. Access to this device gives full access to your funds, so this is a model for small balances only.

Show thread

Seeds and Passphrases are a human-friendlier way to store the public/private keypairs that software wallets and signing devices use to sign transactions. Long binary or hexadecimal strings are encoded as words and/or numbers. Easier to write down on paper or elsewhere. Just remember: anyone who finds your seed phrase and passphrase can import them into their own wallet and then spend all your bitcoin.

Show thread

A Signing Device, or Hardware Wallet (confusing name!) can sign the transactions generated by your wallet. Never plugging it into a computer or putting on the network makes for a much safer way to store your keys. Some hardware wallets (Coldcard) can also generate receiving addresses on their own, so you can verify for yourself that the wallet software and singning device are generating the same receiving addresses.

Show thread

A Wallet can track your personal balances and build transactions that send and receive bitcoin. If you give the wallet your public and private keys, it can build and sign transactions, spending your funds. As this software runs on a computer or phone, it is usually preferable to only provide your wallet with your public keys. Such a wallet can build transactions for your signing device to sign, but can't sign them itself.

Show thread
Show older
Bitcoin Mastodon

Bitcoin Maston Instance