@notjeffersonx Is being sidelined a bad thing when the chart is this bad 😂 I mean I think we just have a different opinion of things or just don’t value our money the same way
Jack Mallers on walking away from Twenty One:
"I failed, and I own that."
His message to the people who believed in him, why he calls it a failure, and the question he says the universe put to him: are you who you say you are?
Thank you @jackmallers for this honest, unfiltered conversation.
New episode streaming wherever you get your podcasts.
- You: "I overdrew my account by 20 dollars."
- Bank: "35 dollar fee."
- You: "The fee overdrew me more."
- Bank: "Another 35 dollar fee."
- You: "You're charging me for being poor."
- Bank: "We're charging you for liquidity risk."
- You: "You gamble deposits daily."
- Bank: "That's OUR liquidity risk. Different thing."
- You: "Money trickles down, right?"
- Government: "That's the theory."
- You: "New money enters at the top?"
- Government: "Through banks and asset markets, yes."
- You: "And prices rise before it reaches me?"
- Government: "Typically."
- You: "So what trickles down is the bill?"
- Government: "You're not an economist."
Passphrases are useful, but nothing to use without proper care and research.
If you lose or forget your passphrase, even if you have your seed backed up, your bitcoin is gone.
Geographically-distributed multisig in which the seeds for each signing method were generated with physical, fair dice is about as robust as it comes. Proper care for backups is important too.
"That sounds like a lot of work."
How serious are you about protecting your stack?
Bitcoin's world-changing mission is to separate money and state. The signal the OP_RETURN uncap sent was unmistakable: Bitcoin Core is open for business for non-monetary use cases, to the point that the project will preemptively facilitate them while refusing any attempt to curb spam.
Inscription ecosystems, ZK-rollups, and corporate non-monetary use cases take time and funding to develop. A Bitcoin Core that prioritises curbing spam does not invite the investment.
A Bitcoin Core that has signalled the opposite does(invite the investment). The refusal to close the inscription loophole with Luke's filter patch and the merge of the institutional uncap PR sent a clear signal that future non-monetary activity in the Bitcoin mempool and blockchain from entities like Citrea can proceed with confidence.
https://t.co/4ldVKyv3fE
BIP 110 proposes a temporary 1-year soft fork to curb arbitrary data storage on Bitcoin by restoring the 83-byte OP_RETURN limit and restricting other major data embedding vectors. Existing UTXOs are grandfathered, monetary use cases are preserved, and the goal is to refocus Bitcoin on being sound, decentralized money while longer-term solutions are developed.