Jason Deane

Bitcoin class of 2016 | Co-CEO @renewablox | Author | Bitcoin Miner | Speaker | Ex-Racing Driver

[Jason Deane @JasonADeane]

@JayW132 @BTCPrague see you there!

[Jason Deane @JasonADeane]

Oh dear God. This would be a disaster for the UK economy, just as it has been for every country that has ever tried it. Read a book on economics. Or history. Or ANY book actually.
Economics all about incentives. Remove the incentive to create wealth through jobs, building commerce or innovation means it goes elsewhere. And really, really quickly. That means it falls to everyone else left to plug the gap.
Which, now that the incentive to develop new wealth is gone, can't be filled.
But, if your objective is to destroy what's left of the economy as quickly as possible then, yes, you're right, it's difficult to argue a better case.

[Jason Deane @JasonADeane]

@philroberts @graeme_cobb Range is also unimpressive these days. Can't help thinking a larger battery would reduce both problems. The EV6 for example, has an 84 kWh battery.

[Jason Deane @JasonADeane]

Active hashrate continues to fall rapidly as marginal miners continue to shut down & AI rotation carries on. Block times have extended considerably & forecast adjustment is currently a crazy -11.13%
Personally - & perhaps controversially - I like these periods as a miner. It's a perfect market reset that's needed from time to time. Mining is about as 'free market' as you can get & impossible to manipulate, so industry adjustments happen accordingly.

[Jason Deane @JasonADeane]

Now THAT's a sustained sell off!
Of course, for those of us who DCA and mine Bitcoin with a long term view, this is an absolute gift.

[Jason Deane @JasonADeane]

@AAStack Yup. Me too.

[Jason Deane @JasonADeane]

@GoingParabolic Here!

[Jason Deane @JasonADeane]

@btconlyscott I like your thinking ...

[Jason Deane @JasonADeane]

@CityAM Well, that was totally unpredictable.
Not.

[Jason Deane @JasonADeane]

@matteopelleg on it

[Jason Deane @JasonADeane]

@Speny_Boy @LunoGlobal @TheFCA For sure!

[Jason Deane @JasonADeane]

Had a @LunoGlobal wallet back in the day from working with them during the 'Bitcoin Pioneer' days.
Like so many others, they pulled out of the UK with the loss of 100's of jobs when the @TheFCA started introducing really intense, excessive & unworkable rules in 2023. So, while the UK fell further behind, Luno has expanded abroad & is thriving in African and SE Asian markets, now with over 15m users.
No-one in power can seem to work out that driving away one of the last remaining industries we hadn't yet completely destroyed (financial services) through impossible regulation is not a good thing & seemingly won't stop until the whole country has nothing left. It's quite bizzare.
Got this email today, Luno is officially severing its last ties with the UK. Can't say I blame them. I wouldn't operate here given the choice. It's a shit show.
If you have any funds still laying around in a dormant account, move them now and enjoy the fun of doing a full FCA mandated questionnaire about your job, status, financial means and, of course, a facial recognition system before you can move them. (Well, assuming the FCA approves your move of course - good luck with THAT. After all, this not about consumer protection, this is purely about control)
This is why you stick with peer-2-peer & self-custody.

[Jason Deane @JasonADeane]

Looking forward to seeing you at @BTCPrague next week! I'm on the GART stage (formerly EXPO stage) on Thursday 11th June at 16:10. Still time to get tickets using code JASON10 for 10% off!

[Jason Deane @JasonADeane]

Might actually be true. I'll take your word for it as I'm not going to bother checking.
But you can't get away from the fact that you clearly did nothing at all - not a single thing - in all that time.
Someone else had to do it & did it in a tiny fraction of the time you claim you had been mentioning it for 12 years. Attempting to claim some credit here is not a smart move & it's clear this has not gone down well with the few supporters you have left.

[Jason Deane @JasonADeane]

@O4gTI2othX88976 @_53North @CallumLyon When we pass the fourth turning. At least for a while, anyway!

[Jason Deane @JasonADeane]

Understood - seems like a big issue on first glance, but this is not a concern in practice for multiple reasons, the main ones being:
Hardware for this sort of attack is still many, many years off being developed & certainly much further away than people generally think.
Bitcoin, as one of the hardest protocols on the planet to break, is last on the list for nefarious actors (much more likely the banking system, general security systems will be attacked first as far, far easier to do - if we do ever get to this point, Bitcoin will still have plenty of time to react, but even so ...)
... the protocol can (and I suspect will ultimately) be updated to a quantum resistant algorithm by consensus and preparations are already underway for this.
Finally, there's also the question of practical incentive: quantum computers are incredibly difficult, expensive and not easy to hide so a nefarious actor has multiple obstacles to overcome before they can even go after Bitcoin (asusming they skip all the easier targets that will give them away first) And then there's the question of 'why'? It would be an incredibly expensive attack to immediately devalue everything and get no benefit in return.
Some great articles on this out there from people actively working on this, woth checking out.
Quantum risk is not zero - it is possible, yet extraordinarly low. In a decade or two those odds may change, but there are countermeasures that ALL systems will eventually have to adapt to.

[Jason Deane @JasonADeane]

@Rebel44CZ This was a super impressive operation. I'd love to see them pull off something like this again - the resiliance and creativity of the Ukraniains against a much larger invading force is incredible.

[Jason Deane @JasonADeane]

@_James_Fisher @_53North @CallumLyon And we're going to pay for it. So, now we gotta take responsibility ourselves.

[Jason Deane @JasonADeane]

@Blonde_Lenka This is just outside Waverley Abbey in Farnham. The whole place is wonderful.

[Jason Deane @JasonADeane]

Rural England in summer. No place like it.

[Jason Deane @JasonADeane]

@BeefButterBTC or water ...