Ethereum is Close to a Tipping Point

 

Latest comments from Vitalic are putting people on edge.

Rouge AI Mining Robots

Not available in stores but you can buy the parts cheap in AliExpress and 3D print the rest. I found one that broke into my house and plugged itself in the other day in 2032.

PS (the Etherium merge never happened, I integrate those bots into my gaming rig, I try to catch the bitcoin ones and then flash the OS with my own)

Worse Than Luna - Banks are Over 20x Leverage Long Their Whole Fiat Stack

With Luna and its stable coin UST crashing to near zero, Defi and digital ponzi scheme's have been in the spot light.  UST value based through a convoluted scheme on the value of Luna and an algorith to buy Bitcoin, worked great until someone with a lot of money saw that they could just sell a whole lot of Luna and Bitcoin at once whilst shorting UST. They make money on the short and can just keep adding pressure, whilst others freak out and jump on board. Something like that anyway, and its all over for people who though they had stable coins, they should have been called stable until they disappear coins. 

People generally don't comprehend the nasty position that banks have got themselves into with fractional reserve banking it is not that different to that of UST and Luna, actually it may be worse. They are just lucky they have big friends back them up in the past. 

Banks are taking deposit and loaning them out 20 times over. Giving loans to people without having funds to back it up this is like Defi based on UST (except with leverage and lower interest rates) and there is a lot of it, most people have loans for their houses, this is like shorting UST. This leverage banks against assets makes them very reliant on property and asset prices going up. If prices go up then the risk on their leverage is reduced and they get more money. If it goes down the trouble snowballs.

The traditional US dollar is what this old fashioned system works with. Like UST it needs to be held steady so that the loans and things on top of it don't get so volatile that people don't trust them. It is held up by the federal reserve which has T bills (like Luna) and also gold, let's say just in case (like USTs holdings of Bitcoin) and they can use this to defend the value of the dollar. The difference is one single person doesn't really have enough money to sell enough and short enough of these things to put the price into a death spiral.

The general public however are already short the dollar with their mortgages ( having a loan is effectively the same as beeing short). Banks are leverage long
the dollar. At the same time if loans default then banks have leveraged exposure to asset prices. So banks need asset prices to go up and the dollar to hold value, not so hot at the moment.

So the only remaining steps would be a unified public increasing mortgage debt and selling T bills and Gold. Might just happen by itself.

Simplicity Script Language Coming To Bitcoin

The complex smart contracts that are the pride of coins like etherium, cardano and solana may be coming to bitcoin soon. Apparently at Blockstream it's only two weeks away;0. It will likely be much longer, but I get the feeling it might not beat the merge. You can find more details here. You can also now run a full Liquid node with a full open source stack, one click GUI on Umbrel. this app will likely include simplicity when it is launched. SUCH WOW. So many bitcoin layer 2 projects!

https://bitcoinist.com/simplicity-bitcoin-smart-contracts/ 

After June or Maybe Never

Etheriums Merge is five years late but people are still putting out positive narratives about its readyness. No mention of the community node and minner processes, but still a lead developer shills his CV website and assures the minions. The etheriums hash rate continues to go up. There may be hope for cheaper graphics cards yet! Or maybe the etherium foundation is figuring out how they can cover their funds incase the whole thing blows up. Maybe it's Pulse?

Funding Space with International Consensus

Elon Musk didn't start an altcoin yet, but things like mars coin are only the beginning of a big idea. Earth coin is also a thing, but I think we can just do it with our new found bitcoin long term perspective.

With enough of our collective effort focused in the right direction many things can be done. The problem is now our "monetary energy", as Micheal Sailor would say, is mostly controlled by financial institutions. Getting the bankers and wall street types comfortable adopting something thats endorsed by crypto anarchists can be a stretch. We see it starting to happen at the bitcoin 22 conference in Miami.

Getting the USA to work together with the Russians is an increasing challenge and NASA's SLS sits on the ground with deadlines for moon walks running out. If the government has only held onto the bitcoin confiscated from Silk Road then they might have more billions to invest, but sadly it seems that money went elsewhere. Going forward the best consensus for international projects may be in private projects and funded directly by the public.

Its all down to having people believe in the idea. I say we should jump on board and get something built on the moon using bitcoin. Not moon coin.

Etherium Classic April 1st Joke

Vitalik must be felling the sting. Proof of Authority sucks! 

https://ethereumclassic.org/blog/2022-04-01-special-announcement-april-01