Bitcoin Info Source

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[Joe Carlasare @JoeCarlasare]

Everyone’s asking, “How much Bitcoin do you need to retire?” 5, 10, 25?

Talk about a poverty of ambition. Why is retirement the goal?

No amount of Bitcoin will give you an extraordinary, purpose-driven life. Only you can create that through hard work, goals, and vision.

Bitcoin just makes the pursuit a little easier.

[Preston Pysh @PrestonPysh]

Stop thinking in nominal amounts and think in percentages.

In 2 previous cycles, at this point, BTC ran 100% within 90 days. Doesn't mean it'll happen this time, but people need to understand, this thing doesn't care that it's sitting at $108,000. The supply and demand shock will.....shock many.

[Alex Gladstein 🌋 ⚡ @gladstein]

Study: Bernstein v. US Department of Justice

How the US government tried to argue that sharing cryptography was arms dealing, and how they lost

"While a graduate student at the University of California at Berkeley, Bernstein completed the development of an encryption equation (an "algorithm") he calls "Snuffle." Bernstein wishes to publish a) the algorithm (b) a mathematical paper describing and explaining the algorithm and (c) the "source code" for a computer program that incorporates the algorithm. Bernstein also wishes to discuss these items at mathematical conferences, college classrooms and other open public meetings.

The Arms Export Control Act and the International Traffic in Arms Regulations (the ITAR regulatory scheme) required Bernstein to submit his ideas about cryptography to the government for review, to register as an arms dealer, and to apply for and obtain from the government a license to publish his ideas. Failure to do so would result in severe civil and criminal penalties. Bernstein believes this is a violation of his First Amendment rights and has sued the government.

After four years and one regulatory change, the Ninth Circuit Court of Appeals ruled that software source code was speech protected by the First Amendment and that the government's regulations preventing its publication were unconstitutional."

https://t.co/FFoSIcGVGY

[Bitcoin Info Source @SourceBtc]

@DazoBTC @BitPLATES @TAnotepad On what grounds do you assert this? AI is essentially a pattern recognition algorithm. Honest question, how will that help here?

[BRITISH HODL ❤️‍🔥🐂❤️‍🔥 @BritishHodl]

Gold went on an 8 year run gaining 350% despite all efforts to increase supply by the Gold industry post GLD launch.

You cannot increase #Bitcoin’s supply no matter how much demand shows up.

And you think we’re going to have a normal bear market after this?

I’m not saying “up only”.

I am saying, this time, it’s different.

[Eric Yakes @ericyakes]

How is #bitcoin going to scale?

The same way all other monetary systems have

Except that this time we have cryptography on our side

Thread 1/n

[Bitcoin Info Source @SourceBtc]

@luke_broyles Would love to, just let me know when and where! (NYC)

[Dylan LeClair @DylanLeClair]

the marginal production cost of an absolutely scarce asset is programmatically trending towards infinity with 100% transparency

what do you not understand

[Jameson Lopp @lopp]

Bitcoin blows minds for many reasons.

Computer scientists say Satoshi solving the Byzantine Generals problem blew their minds.

Economists might be mystified by an asset that goes up in price without producers increasing production to increase supply.

Oil drillers say finding an alternative to flaring excess gas that's cleaner and more profitable was mind blowing.

Human rights advocates say being able to own an asset which cannot be confiscated in a corrupt country, allowing people to grow wealth and escape tyranny was mind blowing.

Power plant operators will say the load balancing capability of mining is mind blowing.

Merchants or users of remittance services will say the fact that BTC lowers friction and fees is mind blowing.

Some might say Bitcoin encouraging saving and long term thinking is mind blowing.

If Bitcoin hasn't blown your mind, you just haven't viewed it through the right lens yet.

[Dylan LeClair @DylanLeClair]

Pump the token you printed from thin air with only a billion of derivative open interest; create tens of billions of value.

It's relatively easy too, you have proprietary info on the only liquid spot and derivatives market it trades on at the time. Futures collateralized with stablecoins and the token itself, pump it.

+4,000% in one year. $100+ billion in market cap. Your share, a mirage worth nearly $50b, materializes a mere four years after the ICO. A treasure and a trap, you enable your users to collateralize against it. Encourage this, and of course encourage them to also keep buying, this thing won't simply just support itself.

How do you capitalize? Well, first off, do NOT sell anything, that'd be too risky, as there are no natural buyers in size, you are the market. Instead, think of other ways to leverage your near immortal levels of newfound wealth, where you won't damage the exchange rate. Your own platform enables this, of course.

Access to billions of dollars of fiat flows, an international banking network, and a stablecoin issued in your name—which you even manage to rehypothecate by the billion—gives you plenty of tools at your disposal.

Your biggest competitor, who attempted to mirror your model, goes down in flames, their bluff called, with the world watching. A win at first, you shortly realize the move backfires. Regulators start circling, a precedent has been set.

Fiat rails and banking relationships get cut. Your stablecoin is ordered to wind down, and jurisdiction by jurisdiction your platform is ordered to cease. Volatility and volumes dwindle, further thinning the air.

Depleted of fiat, with most of your wealth tied to a 'Hotel California' asset that you can never sell hanging above multi-year support, you do and say anything to keep the confidence game alive.

[Bitcoin Info Source @SourceBtc]

@EllyEdelweiss1 @nisception @benjamincowen It doesn’t halve your net worth.

There is a “block reward” that is cut in half every 4 years.

The block reward, is a Bitcoin reward offered upon every creation of a new block, to people who participate in writing and securing the history of Bitcoin transactions.

[Bitcoin Info Source @SourceBtc]

@minderwiesen @btcMAXI_sg No. In order to drive adoption there should be a fair way to distribute the currency to people now and into the future. (Proof of work mining)

Immutable predictability of the supply issuance is more important.

What you’re suggesting is a pre-mine. Which is inherently unfair.

[Dylan LeClair @DylanLeClair]

Ultimately, the reason I find #Bitcoin to be so fascinating is simple:

If the experiment is succesful, it undermines the parasitic practice of unbacked credit creation & usury; tools used to completely control the populace & siphon the fruits of their labor in perpetuity.

[Bitcoin Info Source @SourceBtc]

@swaaalla If there are no forces at all, there is no box, no air, and no water. You need the strong and week nuclear forces, and the forces of electro-magnetism if you want to maintain the presence of atoms and molecules.

[Bitcoin Info Source @SourceBtc]

@swaaalla @cornokun What is the initial distribution of the water and air? If homogeneous… nothing will happen.

If force of cohesion is present, H2O will stick to itself, but only if the droplets drift close to each other. If adhesion is present, droplets close to the walls will stick.

[Bitcoin Info Source @SourceBtc]

@numtidumpty @dylanleclair @2140data set this up, right?

[Bitcoin Info Source @SourceBtc]

@_alexc_c @S3XY_CARS @JaimeB88598183 @JCastroS @friedberg What is your hangup with the word currency?

There a 3 properties to money:
1) Store of Value
2) Medium of Exchange
3) Unit of Account

Bitcoin isn’t a unit of account anywhere that see. So why would I use it as a “currency” as you say? I think you mean medium of exchange btw.

[Bitcoin Info Source @SourceBtc]

@_alexc_c @S3XY_CARS @JaimeB88598183 @JCastroS @friedberg When I look at that chart I see consistent cyclical upside.

Asymmetric UPSIDE is definitely a good thing, however, all people must consider their appetite for volatility.

It’s called portfolio risk management.
Look into tactical asset allocation.

Don’t bet the farm.

[Bitcoin Info Source @SourceBtc]

@_alexc_c @S3XY_CARS @JaimeB88598183 @JCastroS @friedberg The claim that 1B = 1B stems from the fact that monetary policy is rooted in code. The issuance schedule is known to all & no 1 person can change the rules.

$1 is not $1 anymore because, at the FOMC meetings, the Federal Reserve Board of Governors gets to set the price of $.