Tamas Blummer

Blythe Masters of Digital Assets announces the aquisition of Bits of Proof

Happy birthday bitcoin. It has been exciting and enriching working for you for many years.

1/A thread of threads. The decade closes. Over the last 10 years central banks have coordinated the largest transfer of wealth in modern history. The next decade promises deeper social reconstruction lead by CB policies - QE, UBI, MMT, NIRPs, CBDCs, and more.

Here’s to 2020 and the next ten years 🎉 May this next decade be the twilight of fiat currency, and may we not forget the importance of what we’re all doing here. It is a special time and we are fortunate to be part of it. #bitcoin

@Crypto_nonce @Dell I was told to use the magic windows media creation tool by @Dell. And it did the magic. That is I HATE with windows. It does not matter if a stick complies UEFI standard, which I looked up, it has to have some unspecified windows magic to work.

@TamasBlummer @Dell But check first if booting from usb on your dell even works in the first place with a linux iso or whatever.

@nfosec19 @Dell have been switching on/off whatever related in BIOS even tried all USBs (there are 8). It just sucks.

@100trillionUSD Spot price does not influence the quantity of bitcoin produced, but does its value measured in fiat. Therefore falling spot price dries up the market if viewed from fiat angle. Shallower market leads to higher volatility as it is cheaper to push around.

@TamasBlummer Yeah I probably wasn't clear, I was talking about spot and futures prices ('discovered' at exchanges) that in case of commodities influence producers / supply, but not with bitcoin

I don't see futures as a threat to #bitcoin. Central banks can future sell large amounts with unlimited fiat money, pushing future prices below spot (backwardation), but spot markets will not follow all the way, because they run out of sellers (unlike gold, supply is inelastic).

@100trillionUSD You spoke about exchanges. Supply there is clearly not just from new production.

@TamasBlummer Thanks for sharing. With supply I mean flow, production, increase in monetary base (new coins), not existing coins (stock) changing hands. Bitcoin supply is fixed / inelastic, Gold supply is elastic and reacts to price. This difference is often overlooked when talking futures.

@kanzure @adam3us @peterktodd Complexity of a theft protection scheme raises the probability of accidental loss, due to operational error.

@TamasBlummer @adam3us @peterktodd All loss is accidental. The question is what are you going to do when they steal 100% of your funds. You want them to steal at most 1%, really.

Because ETH doesn't scale, and those examples aren't even firsts. It's really easy to build things on top of SQL databases that look interesting and useful. Indeed, if you're ok with centralization they can be. But that's just not comparable to Bitcoin's goals.

The "Know Your Customer" meme is pure monetary ignorance. One of the main reasons for the existence of money-as-MoE is so that businesses can scale *beyond* the need to know their customers. When you "know your customer" you don't need money at all, you can just exchange favours!

@kanzure @adam3us @peterktodd History tells us that the biggest threat to bitcoin holdings is accidental loss.

@adam3us @peterktodd More importantly, if your friends have secure practices then you should just adopt those practices instead. The most important thing is to prevent theft. Hence my work on vaults and clawback (updates coming soon). bitcoinmagazine.com/articles/revam…

@PeterBofinger @marcfriedrich @faznet Ihr Halbwissen über Bitcoin macht Sie arrogant. Z.B. vereinfachen Sie die pseudo Anonymität die Bitcoin bietet auf eine Nutzung die in der Praxis eher die Ausnahme ist: Die Wiederverwendung der selben Adresse. Sie wollen lehren aber nicht mehr lernen.

Für alle, die wissen wollen, wie #bitcoin funktioniert (@marcfriedrich) mein Beitag aus der @faznet Sonntagszeitung vom 8. Januar 2018, als der Bitcoin-Kurs noch bei rund 12.000 stand. faz.net/aktuell/finanz…

@Cipherhoodlum @100trillionUSD SDNWOTN

@100trillionUSD @TamasBlummer "/s" implies that whatever was said before is sarcasm.

B&S model is seriously flawed because demand is not in the model. In fact Black and Scholes seem to price options with volatility as only input variable (plus some contract specific variables S/X, r and t) .. that is absurd, we all know prices are the result of demand & suply. /s

@jillruthcarlson Fresh organic protein topping.

Was so looking forward to this road trip snack, but had these insects crawling out of the package and all over me upon opening it!

Hey @MattsMunchies, you are not only organic, vegan certified, and gluten free, but looks like you also include all natural maggots for protein!

@CarstenBKK One would think @Medium would credit me for producing content, but nope, they paywall me. I will no longer publish there.

Well written article on humans tendency to self-destruction. @tswriting/history-tells-us-what-will-happen-next-with-brexit-trump-a3fefd154714" target="_blank" rel="nofollow noopener">medium.com/@tswriting/his…?

@GDR001 @dannylmasters

@TamasBlummer Is there anyone we can follow to track the progression of this?

London banker will soon be at disadvantage accessing the legacy financial system of the EU. They will soon recognize that bitcoin banking is a niche others are disabled to serve, but London can now forge its own regulation and become the bitcoin banking capital of the world.

Shitcoins fell with bitcoin bit did not fully recover with it.

@Aella_Girl Many people's life and prosperity depend on industries that are only viable if plants are protected by nation states. They have no skills required by rising virtualized global enterprises which are protected by cryptography instead of guns and borders.

Does anybody have some good hot takes about why nationalism seems to be on the rise globally?

@CarstenBKK I am not sure they will be popular. Have to download filter history for the time spent offline, I estimate ca. 10 MB/day and not much more secure than using random electrum that requires minimal communication and no time to sync.

@TamasBlummer Also because it's standardised there would probably be a lot of different but interoperable clients.

What happened to Neutrino #Bitcoin light client proposal?