Tim Tayshun “Lower your Time Preference”

Like, share, comment, and SUBSCRIBE TO BE NOTIFIED WHEN ISSUE #➋ DROPS ‼️ m.youtube.com/shorts/GVwE-h6…

@asanoha_gold Gavin, importantly, even precludes his idea (about stuffing a Lady Gaga video onchain) by saying, “but my *EVIL* little mind immediately starts to think of ways I might *ABUSE * it.” - demonstrating that he KNOWS it’s a bad idea and is curious how to mitigate this.

Notice the last sentence in this... "That's a cool feature until it gets popular and somebody decides it would be fun to flood the payment network with millions of transactions to transfer the latest Lady Gaga video to all their friends... That's one of the reasons for transaction fees. There are other things we can do if necessary." - Satoshi Nakamoto

Good projects deserve more than applause. They deserve supporters. Become a Geyser Ambassador and help connect the two. ⚡ geyser.fund/ambassador-pro…

Orange Bible now has a web bible reader. My goal was to create the simplest and cleanest browser bible. Far too many browser bibles are over complicated and hard to navigate. The copy and paste features are usually pretty bad too. The Orange Bible browser reader is clean, simple and too the point. If you sign in with your Orange Bible account and you are premium, you get to use the Bible Study assistant right in the same window. It's clean and easy to do Bible study now with AI assistance.

We've made a lot of Lightning payments over the past month, and not a single one left an on-chain footprint or can be traced thanks to Lightning's onion routing. It's easy to take for granted that the world's only decentralized Layer 2 also provides excellent privacy by default ⚡

@OnChain_Jeff @volpeLP @ErinEMalone Satoshi articulated his own opinion in the matter, stating that even text alone (onchain) “is an accident waiting to happen.” 🤷 He WROTE the core principles baked into Bitcoin, suggesting that “there are other things we can do” (to address spam) if fees alone don’t work.

@volpeLP @ErinEMalone If you out source your thinking to the mental, religious, fanatical likes of Luke and the Knots crowd, you clearly are an idiot. Anyone that understands the core principles of Bitcoins economic incetives, fee market filters, and promise to be hard money, knows BIP110 is dumb.

I wasn’t going to waste the energy on this ridiculous debate, but enough people have asked… I’ll say it as diplomatically as I can: I run Bitcoin Core because I’m not an idiot. Now back to building.

It looks like we screwed up with a tweet posted in haste without properly verifying the facts on @spark. @roy_breez and @sethforprivacy have assured us that Spark does not apply chainalysis for Spark users at the on-chain or Lightning level. The misunderstanding came about due to getting wires crossed between Lightspark and Spark products, which operate on the same infra but are distinct systems. We'd appreciate you amplifying this post, to help set the record straight. Everyone on the @secondhq team are passionate bitcoiners, the team leans toward purists and obsess over the details, for better or worse. We went too far here and got things wrong to boot. Late night on a Sunday was also completely unreasonable to post stuff like this. We'll be getting back to regular programming of positive vibes only. Rest assured that the team is heads down making the Bark SDK the best it can be.

@TaxEvaderCat @Rothmus I didn’t know this part. Fascinating!

You forgot to mention - or maybe you didn't knew this fact: There was a massive newspaper campaign, where the bankers acted outraged, as if the federal reserve would ruin them. People read it and believed that if the bankers are angry, then it must be good. So no one opposed it.

That’s a myth. It was a banker cartel coup sold as public reform. JP Morgan and the private clearinghouses stepped in, issued their own liquidity and contained the runs in 1907. The government didn’t fix it, no central bank existed, and it still worked. But what happened is that big New York banks saw an opportunity to expand credit wildly, socialize their risks, and never face real market discipline again. So in 1910 they slipped away to Jekyll Island under fake names and for a week they drafted the blueprint for a government backed central bank that would cartelize the system and hand them an elastic currency printer. Wilson, the useful progressive, signed the Federal Reserve Act in 1913. But the fact is that central banks don’t eliminate booms and busts. They create them by suppressing interest rates, fueling malinvestment, and guaranteeing bigger crashes when reality hits. And if the Fed was created for the purpose of “stability”, then it evidently failed as it delivered the Great Depression, 1970s stagflation, 2008 meltdown, and today’s addiction to QE and bailouts. It also enabled every major war and welfare expansion by monetizing debt, and the dollar has lost 97% of its purchasing power since 1913. They literally built the most sophisticated wealth transfer machine in history via inflation (hidden tax) and the Cantillon effect (new money hits the connected first). The Fed effectively turned banking panics into a permanent feature of the economy while shielding the worst actors. TLDR: end the Fed.

I was just on the Kyle and Kyle show podcast describing my Bitcoin journey and we lead to Bitcoin Video Magazine. If you’re curious, please check it out. It’s not that long a show, but covers a lot of details! kyleandkyle.show

@MrsDanielleLuna @Anthony_Luna5 Happy Anniversary! Congratulations and to many, many more, forever 💕

Happy 7, love! I’m so proud of us. It just keeps getting better🤍 @Anthony_Luna5

Woah! Are these REALLY “Bitcoiners?!?” This is the future they want.

@Arthur_van_Pelt True. My bad. (I’d wondered why I hadn’t picked up on that prior. But, alas…) Nevertheless, very valid point.

@ezCoinAccess Actually Gavin Andresen mentions it and Satoshi quotes him without correcting him (why would he anyway, it's a very accurate description).

Remember when Gavin Andresen described data spam like "the latest lady Gaga video" as "abuse from an evil mind"? Satoshi agreed, explained "that's why fees" & he added "There are other things we can do if necessary". BIP110. At your service. h/t image @ezCoinAccess

@Macronaut_ …Or, perhaps a bit longer? @NickSzabo4 coinbureau.com/analysis/who-i…

If you support Bitcoin BIP110, please answer the poll as to how long you have been in #bitcoin:

In this very early anti-spam discussion, Satoshi articulates his opinion quite clearly, specifically referring to Bitcoin as “THE PAYMENT NETWORK.” (emphasis added, of course)

Facts to get comfortable with for the next month: 1. Is BIP-110 going to have a positive effect at reducing *institutionalized* usage of Bitcoin as a data storage platform? Yes 2. Is that the reason many people support it? Yes 3. Is that the primary motivation for BIP-110? No 4. What is the primary motivation? Disabling methods of data storage specifically opened or cited as "already possible" with Core v30 5. Can spammers find ways to spam Bitcoin that BIP-110 does nothing about? Yes 6. Is spam better fought at the policy level with sensible defaults in the reference implementation of Bitcoin? Yes 7. Are consensus changes like BIP-110 ever going to be a good substitute for that? No 8. Can we ever stop spam completely? No 9. Can we ever give up trying to reduce it? No

@HodlFlorida I once bought a homeless dude a hoagie (bought myself one, but decided to get him one too after seeing him outside the store with a sign looking down on his luck). Upon attempting to pass it over to him, he informed me that he was a vegetarian 🤦 True story.

I never give cash to homeless people. But I will buy them food or something to drink (non alcoholic). Bought this homeless gentleman an electrolyte drink today. He was happy about it. Then he turned back around and asked “do you have any cigarettes too?” lol No bro! This isn’t a free 7-11. Homeless-flation - where homeless people ask for specific things while receiving free stuff.

I one-shotted a full Super Mario style bitcoin game with Claude Fable 5 on ultra code. You play Michael Saylor running the entire bitcoin timeline. 21 levels. 21 rules. One chair. The final boss is Peter Schiff. (not affiliate with @Strategy, @Saylor or @PeterSchiff) Free in your browser: galaxymind.space/super-saylor

@AAStack 🤷

Here my last thought on BIP-110. BIP-110 isn’t Bitcoin’s immune response. It’s a policy preference. Bitcoin doesn’t distinguish between “monetary” and “non-monetary” transactions at the consensus level. If a transaction follows the rules and pays the fee, it’s valid Bitcoin. Calling certain uses “spam” is subjective. One person’s spam is another person’s legitimate use case. Nodes don’t decide what Bitcoin is unilaterally either. Bitcoin is defined by the consensus rules accepted by the economic majority. Relay policy can influence network behavior, but it doesn’t redefine Bitcoin. If users are willing to pay for blockspace and miners are willing to include those transactions, that’s the fee market working as designed not an attack on Bitcoin. See you in September 🫡⚡️