m Warren ☀🌲
@AchimWar
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Am I understanding this correctly: Tesla sold off $1 billion in bitcoin and none of the so-called “chain analytics ” wunderkinds were able to suss this out?
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PoW has the property that if we all were time-machined to 2043 and each separately handed the same set of 600 blockchains, we could all determine, individually, which one is correct.
PoS fails this property.
What's the name for this property?
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@DaSkrubKing
Rush Limbaugh had this amazing magical trick: he would describe verbatim with perfect accuracy these policies, but he would do it in a whiny liberal voice, hinging and hanging on all the worst parts, and somehow magically the hysteria was a burn on liberals. Stunning to watch.
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I followed up with a guy I’d shared a Twitter spaces with once who now owns over 1000
#Bitcoin
, and asked how he did it.
1. Intermittent fasting.
2. Cold showers
3. Gratitude journal.
4. Always dress appropriately; image matters
4. Dictator of small Central American nation.
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Bitcoin was born as a peer-to-peer alternative to a banking system that spun the world into crisis via promiscuous debt issuance. Today, Bitcoin folks are quick to defend the CEO of a Nasdaq fintech corp arguing he should issue unregulated debt.
Money corrupts, absolutely.
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This statement encapsulates an engorged, festering problem that I see in the mentality of many people currently promoting Bitcoin.
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Six chapters in- I’m feeling good about including this in my course this fall.
Well-documented discussion of monetary power abuse and also of Bukele red flags. Great jumping off points for discussion.
Transparent enough so the critical reader can separate facts from optimism.
About to find out what Alex has to say about this whole bitcoin thing
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Has anyone tried to compute how much *all of this* (Bitcoin, crypto, etc) costs in unrecoverable expenses? Coinbase operating costs are billions per year, mining is billions per year, execs and lawyers and sports arenas are of the same order. Any guesses?
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I'm about to do a naughty and try invalidateblock. We me luck.
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Flash back to one year ago when Jason Lowery agreed to debate me and then instantly backed out when he discovered I was a real math professor
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@sqcrypto
@Square
@ARKInvest
The obvious conflict of interest is obvious. I’m not going to read studies about glysophate from Monsanto and and I’m not going to read about why vaping is fine if it’s coming from the VP of Juul.
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@thetrocro
@resistancemoney
@craigwarmke
Actually I have thought about this a little bit and my reasoning was it allows one to keep track of how far we are in to the total supply. At the end of the 50 era, there’s 50 % left. At the end of the 25 era, there’s 25% left.
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OOOK.
Seeing how this
#Bitcoin
Security Paper has had 100s of retweets, very few of them critical, I'm going to have to go ahead and drag through it a bit, because that's what I do.
Thread 1/
How much does it cost to 51% attack Bitcoin and Ethereum?
To find out, we simulated what an attack would look like.
Our paper, Breaking BFT, was published today with some interesting results ⬇️
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The point is not that the onchain-analysis folks had an easy job and they fumbled the ball, it’s that they’ve been overselling their capabilities this whole time.
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"Is Bitcoin modern digital warfare? Will bitcoin replace the nuclear bomb? Is proof of work the same as elliptic curve cryptography? We answer these and many other questions."
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Let's be honest, the rational argument for buying Bitcoin over the last 15 years has been
"Is there are at least a 10% chance it does a 10x?"
Yes.
But this doesn't work all the way infinity.
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About to find out what Alex has to say about this whole bitcoin thing
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I’d just like to go on the record: I’m willing to listen to and respond to any good faith criticism of anything I’ve said or written, regardless of whether you’ve paid for or read my 350 page book. Happy to clarify points may poorly be communicated
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What do these people paying $200 a tx really think they're going to get?
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I'm excited to see who opposes this bill
Today, we amended the Ban Conflicted Trading Act to ban Members' spouses from trading stocks as well. The bill also bans senior staff from trading, & bans Members from serving on corporate boards — which the Senate already prohibits.
Now it’s time to bring our bill to the floor.
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Strategic bitcoin reserve makes no sense like what are you reserving it for?
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Michael Saylor is advocating for a 51% attack on the Bitcoin blockchain.
Chad.
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Jason thinks the world will choose Russia in a currency war if we boot Russia from SWIFT.
I often question whether I should waste my time calling out kiddos like this for their nonsense, but in this thread he’s literally communicating back and forth with a US Senator.
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I’m going to have a party and instead a vaccines cards we will require the following.
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Crypto will fix the imbalances in finance just like Facebook made everybody so much better informed.
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@SpencerHakimian
@mark_dow
" I can do whatever I want if I'm president and the law can't stop me" isn't a great bid for the office when you're not in it.
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Probably the most hilariously ironic event for Bitcoin:
If a fee market doesn't develop, and the lack of block subsidy threatens to tank the whole thing, the US government steps in and starts mining in order to bail out all the Wall Street cantillionaires who FOMOd into Bitcoin
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If there's any left leaning folks who are still on the fence about Bitcoin, Peter Thiel's keynote at
#Bitcoin2022
will fix this for sure.
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I knew this would come in handy
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If the world's richest person is making a play to control both satellite communications and major mediums of communication, and is pushing his own pet currency, this person is a threat.
This "how to identify a populist who could take over the whole planet" 101
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Once again an example of how Bitcoiners are doing a much better job of creating no-coiners than Stephen Diehl or Dave Troy could ever dream of.
BREAKING: U.S. Senate Candidate
@JoshMandelOhio
claims “If you are pro-Bitcoin I will work with you, and if you are anti-Bitcoin I will crush you.”
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First, they ignore you
Then they laugh at you
Then they let you believe that you are rich
Then they fight you
And then you comply
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Absolutely thrilled to see this. Good journalism.
@IOHK_Charles
@amilcaronline
Hi Charles, speaking of fiction, do you want to address the discrepancies between your claims of dropping out of a PhD program and the schools' assertions that you were enrolled as an undergrad?
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And they're all gone. Nobody wants to hear about my chain anymore.
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@TheStalwart
@VirtualElena
True story. Over the weekend I went backpacking near Diamond Peak in Oregon. Got to the trailhead and started taking to this couple - and turns out they’re TOTALLY INTO FIAT !! We ended up chatting for like 15 minutes.
It’s happening.
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@nic__carter
With everything else going on, lockdowns, recession, inflation gas prices etc. you think they will do a post-mortem and decide it was their *stance on crypto*?
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Example # 7432 reminding us that the rich are not smarter than you or I, they're just confidently dumb in unique ways
A scenario:
Bitcoin price rise leads to increased mining and greater energy use, driving up the cost of energy, causing inflation to rise and the dollar to decline, driving demand for Bitcoin and increased mining, driving demand for energy and the cycle continues.
Bitcoin
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@craigwarmke
@sqcrypto
@Square
@ARKInvest
Please. Having picked the right horse that millions of other people also picked doesn't mean you're doing quality research. My ten year old's buddy bought Doge a few weeks ago - should I be consulting him on matters of science?
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If I were to assign to my students a single podcast episode (about Bitcoin or even crypto in general), which one should it be?
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Hey we should come up with a pejorative term for people who think changing the emission schedule for Bitcoin is inevitable. 🔽
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Elon: I’m going to fire 75% of employees
Employees: Hey let’s not turn this into hunger games, treat employees with dignity.
Every blue-check born-on-third base CEO on Twitter: Why would we treat human beings with dignity? You exist so we can exploit you.
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I'm hearing from some experts that devs have used BitVM and ZKPs to build a functioning two way bridge between 2024 and 2017
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The greatest king move Satoshi could ever pull would be to wait until Wall Street piles into ETFs and then rugs them all
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Bitcoiners don't like to talk about the identity of Satoshi, because there is no way this could resolve itself into a "good" development. Almost every feasible explanation has serious downside to it.
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@watchinwisteria
Please, this needs context.
In his defense, this was the New Haven Seminary graduation and the year was 1698
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If you bring up "game theory" in the context of Bitcoin and what you mean is "buy it before other people buy it" you are talking about a Greater Fool Game because that's pretty much the definition of a Greater Fool Game
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Actually I would say that probably this is not unpopular at all; in fact I would say an easy majority of educated people believe this.
Unpopular opinion: You can be the author of the Bitcoin Standard and an idiot at the same time.
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Bitcoiners who apply game theory to Bitcoin often start at the instant of hyperbitcoinization and apply backwards induction from there, predictably leading to “buy Bitcoin.”
But you need to actual apply honest game theory at hyperbitcoinization, not just the instant it occurs.
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Whenever I see Michael Saylor or hear him talk I think “McAfee 2.0”
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"Another way to reduce your risk is to invest in stablecoins, which are similar to traditional cryptocurrencies but are backed by real-world assets, making them less prone to significant drops in value."
HOLY FUCK this is the AP
"
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Looking forward to featuring this book in a Clark Honors College Course at UO this fall.
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So I’ve read 1984, and one of the themes which I gleaned from it was that “lying, repeatedly and at scale, is an effective way to control people”… Which is why I think free-speech absolutism is a dangerous ideology.
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So what if the heat created using electricity from bitcoin mining is then used to create more electricity, which could then be used for more Bitcoin mining. Then all the energy is renewable and Bitcoin can be mined perpetually at zero cost. What am I missing?
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@coloradotravis
@nope_its_lily
Three mathematicians walk into a bar, separately. The bartender asks “are all three of you mathematicians?”
The first says “I don’t know”
The second says “I don’t know”
The third says “yes!”
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If the "value" of Bitcoin is driven by demand from well-countenanced parties, and these well-countenanced parties don't accept your Bitcoin, they've just changed Bitcoin.
ETFs ultimately give authorities the option to break the fungibility and create two classes of Bitcoin.
GM, the EU parliament approved a new AML law banning anonymized
#bitcoin
payments to custodial wallets
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Tell me you still live with your mom without telling me you live with your mom
My landlady accepted bitcoin for this month’s rent. She’s 60 years old. Set up a
@MuunWallet
wallet for her temporarily and paid with
@ln_strike
⚡️🧡
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Binance getting the hose from every country and jurisdiction is actually good for Bitcoin.
Thread. 1/ 21.
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Are there any well-formed arguments for hyperbitcoinization?
The following are not:
"What is money? oh look! Bitcoin is money! therefore inevitable."
"Eventually everybody will have the same rapturous transfiguration experience that I had"
"Fiat is bad because corruption"
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@RyanSAdams
what I see is someone who is playing a long game brand-wise. By going proof of stake and well-specified coding from the start, they’re positioning themselves as a responsible adult block chain ready for when everybody (not just crypto bros) gets on board in like 2026
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@EconomicsBread
"I'm no expert, I just spend my life writing for Harvard Business Review and appearing on TV"
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