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Friday, 25 November 2022
Old Androids Come to Life
You can now run a full bitcoin node easily on an old android device. Dig out those tablets and solar panels lets get some mobile nodes on the road.
Sunday, 20 November 2022
Wednesday, 16 November 2022
The 15 Year Old Jeabus Boys Matter
Back in the day, not so long ago a 15 year old boy makes a table and sells it to his neighbor. He makes $1000 profit. He saves the money because he wants to be a good Christian saver has no real need for material things he doesn't already have and knows that he can get a good interest rate in a safe place. Savings frugality and hard work is admired and respected and some how this intrinsically makes sense when he looks around. 50 years later he still has that money he saved and with 12% interest its now worth 400k which in this time is, just in itself, an ok amount of money to retire on when he is 65.
In another world, a lot like the one we are in now, the same boy knows intuitively that there is little point in saving. 2% percent inflation (which is the lower bar) means that in 50 years that money will have almost completely evaporated in 50 years. So he takes the money and blows it on spray paint, booze, drugs and maybe gets a girlfriend. He really just wants to enjoy himself in the moment, retirement is irrelevant savings is silly, you've got to spend money to make money and you've got to know some secretes and make some connections before its worthwhile working at it. People seem to spend money they don't have fast and on flashy stuff that breaks or goes out of fashion. Leverage and regulatory capture are the name of the game. This is the Fiat world,
The stark contrast between these two world is clear, and you can see the vast cultural effects of sound money. It touches so many parts of society and it also explains a lot of differences from the current world and the world of 100-300 years ago.
Very interesting but, guess what? neither of these worlds are real anymore! In the real world the effect is exaggerated for people who know about bitcoin. The 15 year old boy named Jeabus who knows about bitcoin makes a table and saves the $1000 as bitcoin. He goes straight to Bisq and writes his seed phrase on a piece of paper and in his mothers old diary and deletes the Samurai wallet from his phone. The process is easier than waiting in line to deposit it at the bank and he also knows the bank is only holding a small fraction of its deposits in reserve. The compound interest calculators online max out at 50% annual return which he knows is a low pall for his bitcoin stash. In 50 years time, his stashed bitcoin with nothing else, will be theoretically worth the equivalent to 70Trillion dollars!
$70,783,540,654,359
He's happy to save the money, keep working hard and can dream of grand glorious plans for a bright future. He is 70 trillion times belter of than a rebel without a cause. Sound money make Jeabus boys rich.
(I think the price power parity appreciation rate of bitcoin is actually higher than what is shown here, more like 100-200% and 18% is a minimum average level because of the halvings)
Thursday, 10 November 2022
Bitcoin Doesn't like Artificial Scarcity
So its not alive actually (well at least not as we know it) but it seems that bitcoin culture which has scarcity for one thing (bitcoin) is naturally tending, because of mathematical reasons, to push out all fake sources of scarcity.
instance, Open source software movement, anti token and NFT sentiment, pro humanism
FTX Saga
Holly wood directors have been supplied with some dramatic new material from the altcoin scene in the last 48 hours. The latest here. Crypto titan are fighting among their centralised cells.
You can tell an Eth head by their explanation for the price action. Apparently, market movements are caused by Ethereum when the price goes up and buy "children" when it goes down.
Its trauma and max pain and it's making altcoiners start to sound like bitcoiners, they just don't know it yet. Reflecting on the past and the big picture. They skirt around the subject of bitcoin very difficulty here.
Bitcoiners know the cycle is 4 years long. Goes with the bitcoin block reward halving. So there's hope the next one is coming,
Tuesday, 18 October 2022
Bitcoin is Getting Greener and Greener
If 1/30th of bitcoin is mined from flare gas, then bitcoin will be "carbon neutral" according to current carbon neutral standards.
I think this is about to happen.
Check out Meet Crusoe Energy, Which Mines Bitcoin Using Flare Gas From Oil Drilling (businessinsider.com)
Wednesday, 5 October 2022
Load the Green Financial Ray Gun of Peace
Where you put your money is where you go. Bitcoin allows us to take control of this. I think we should cut military spending between countries and build a moon gun for global defense.
On the dark side of the moon of course.
Every dollar saved buying bitcoin is a dollar not spent destroying the world with disposable junk and suicidal military spending.