Dave86ch

It declined on the news that it was false. By the way, there is a non-zero chance that Elon took his revenge. For the Tor, everything is possible, but we are talking about global peer-to-peer technologies. You can cut some heads and control some of them, but other heads will pop up. I wrote my first article on Bitcoin years ago, where I was critical in a sense, but I got many points and Bitcoin was at 13k USD. I've changed my mind over time on many things, now my thesis is way more solid and articulate. https://dscompounding.com/2021/03/04/cryptocurrencies/

Ahahah same here Eric

I personally run a Lightning node on an old ThinkPad. I can go to the McDonald's in my city and pay completely anonymously through my personal node using the Tor network.

I never fully grasped the concept of fees, which is due to my lack of understanding. I understand the idea of converting energy into digital property, thereby transforming cyberspace, or at least a portion of it, into a thermodynamically sound environment. However, I'm trying to comprehend how things will change when all the 'bricks' have been mined. Perhaps that's exactly the point of Gabriel's Horn, a realization I've just had. The bricks are limited, but the energy involved remains infinite.

What about the end of mining and its direct connection to energy and digital receipts? The idea of Gabriel's Horn seems to revolve around the notion of a link between infinite energy and finite cyberspace real estate. At some point, mining will stop, likely because the smallest unit, currently indivisible, is 1 satoshi (2140). How will this theory evolve when this tie breaks?

Same feeling, market become more and more emotional instead of rational.

I bought some more Sats as a Christmas gift for myself.

Same

RIP Charlie. “Spend each day trying to be a little wiser than you were when you woke up. Discharge your duties faithfully and well. Slug it out one inch at a time, day by day.”

Bitcoin is a technology, not a company. It generates value but not necessarily cash flow. Does the Internet lack value just because the protocol itself doesn't generate cash flow? Owning Bitcoin is akin to owning a piece of the base layer of an infrastructure that converts energy into scarcity, paving the way for a decentralized network of records. Growth in the network equates to growth in value.

15%

It will absorb the excess liquidity and deflationary forces, reintroducing a healthy market for investing, in contrast to the current state where speculation has become the only means to preserve wealth due to the Cantillon effect, which is undermining price discovery

I am referring to Lightning when I speak about payments. I run a node on Tor, completely anonymously, and I can buy coffee at McDonald's in my city with zero fees, instantaneously and anonymously.

Comparing Bitcoin to gold can be a useful exercise when trying to understand Bitcoin as an abstraction. However, it's important to realize that Bitcoin is a platform, a ledger of encapsulated truth where energy has been expended to preserve data. It's not a dead pile of minerals; it's a living infrastructure where it is possible to build global and instantaneous payment layers, preserve information and verify them, convert energy into scarcity, and harness untapped sources of energy. I mean, who cares about FTX and a dead mineral? Bitcoin is a powerful tool that creates physical bastions in an abstraction layer of reality that we, as a species, have built in a new dimension of our perceptions.

Proof of Work defines physical constraints in the digital realm, enforcing security by incentivizing the use of untapped energy sources, supporting a decentralized platform of shared and certified transactional truth. It transforms labor energy into scarce, secure, and movable wealth.

He doesn't understand the Proof of Work mechanism and its implications.

I personally run a Lightning node, and it works flawlessly: it's safe, fast, easy to set up, and anonymous. I'm working on top of the safest asset in the world. There are no intermediaries, no buildings filled with workers who only pretend to work, and no handling of bureaucracy or complex hierarchical ranks. It's just autonomous software, silicon and a 100% anti-fragile democracy incentivized to exploited untapped source of energy.

I totally agree. This forum is a precious resource for thoughtful debate, aside from political topics. Discord is useless for investment discussions but perfect for software development support. Reddit seems to be full of bots that drive a particular narrative. The old-fashioned forum format is still the best. This one, in particular, has a healthy ethos.

The diary has the precise goal of sharing perspectives and research from other people. Here, you can find some of my thoughts on the matter. https://dscompounding.com/2023/04/24/compound-your-energy/ Technically, I run a full Bitcoin node, and I'm setting up a Lightning node to allow my AI agent to start interacting with a native digital currency. I'm trying to dig into the opcode. I already have a good understanding of Solidity, but I feel that proof of work is a more powerful concept. I'm working to acquire more technical skills to truly implement Bitcoin in some learning projects. As humans, we started with bartering, using the resources we had produced. Our species literally began by using our own production as a means of payment. Over time, and Rome is a good example, governments debased the currency, manipulating what represents the production energy input. Which in turn creates instability in maintaining the security of the empire's boundaries and generates internal conflicts. This is usually the consequence: a return to a hard form of money, which preserves the energy input of production due to its scarcity. (It's a cycle, source: Ray Dalio) This topic has many perspectives; it's a multidisciplinary exercise, and there are no definitive answers because, at the end of the day, it depends on an illusion of value. Energy, on the other hand, is not an illusion. Creating a hard money from energy and placing it in the digital realm makes total sense to me, especially given that a currency tied to energy helps unlock sources of energy that are currently untapped (like for istance metab combustion or El Salvador Volcano, Tibet mining). In the meantime, MicroStrategy is acting as a gateway for institutions, providing access to Bitcoin by issuing shares and buying it. The fact that MSTR is outperforming Bitcoin could be a positive sign in this regard.

I also created an AI mind map on the kmpg esg researchmon Bitcoin I updated my Bitcoin diary as well. https://dscompounding.com/2022/12/16/bitcoin-diary/

Bullish on Bitcoin, it's important to maintain a healthy discussion by pointing out the weaknesses of the thesis.

The greatest Ponzi scheme after the Denarius.

Nevertheless, the most powerful open-source LLM ever released agrees with you on sizing. It may even be smarter than Blackrock. I've still invested 10% because I'm uncomfortable with Tether's dominance in the space.