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HACKZERO #BIP-110 💵 ✂️🏛️= ₿
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HACKZERO #BIP-110 💵 ✂️🏛️= ₿
@hack355
Austrian economics pleb, John Deere certified service tech, prior airforce-Aero repair shop. Orange pilling normies one prompt at a time. ⚡️[email protected]
Iowa, USA Katılım Temmuz 2009
1K Takip Edilen2.2K Takipçiler
Many Bitcoiners I respect support BIP 110. I understand and share their desire to protect Bitcoin, but believe the proposed cure is more dangerous than the condition. Here are 110 reasons why Bitcoin needs guardians of neutrality.
Michael Saylor@saylor
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Money works best when it has one clearly defined purpose and one objective standard.
Gold didn't become better money because emperors stamped their faces on it. The stamp was simply a claim about its weight and purity. The more people relied on authority instead of verification, the weaker the monetary system became.
Bitcoin fixes that by letting everyone verify the rules for themselves.
Why repeat history by asking Bitcoin to become something more than money?
Michael Saylor@saylor
Many Bitcoiners I respect support BIP 110. I understand and share their desire to protect Bitcoin, but believe the proposed cure is more dangerous than the condition. Here are 110 reasons why Bitcoin needs guardians of neutrality.
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I have learned one thing from this article:
-> thousands of personal attacks against @saylor, & not a single argument against the actual content.
Don’t attack people, attack ideas.
Michael Saylor@saylor
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Only 1 reason is needed for A peer-to-peer electronic cash system: Why should money do that?
Bitcoin doesn't become more neutral by trying to do everything. It becomes less neutral because it stops being just money. Every new purpose creates new groups with new interests, new expectations, and eventually new arguments over which uses deserve to stay and which should be restricted.
Money doesn't need a dozen jobs. It has one: to move value between willing participants. If someone wants Bitcoin to take on another role, the question shouldn't be, "Why not?" It should be, "WHY SHOULD MONEY DO THAT IN THE FIRST PLACE?" The burden isn't on critics to justify keeping Bitcoin focused. It's on proponents to explain why a monetary system should become something more than money.
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@saylor The danger isn’t just spam, it’s forgetting Bitcoin is money.
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There are 110 things more dangerous to Bitcoin than spam.
BIP 110 turns a spam dispute into a consensus change that would invalidate some currently valid, fee-paying transactions.
That precedent is the danger. We should save our energy for threats that really matter. $BTC
Adam Back@adam3us
On the filter fork topic. I don't usually have time, but this morning listened to one of the twitter spaces from earlier in the week, with some well meaning relative bitcoin newcomers, that humanized them, and their concerns and thoughts for why they thought that made it logical to support 110. My feeling after listening, is if these are the people with #110 in their handles, I'm sad to see them about to fork off and get disillusioned without understanding why bitcoin rejected 110 robustly. So here's a more empathetic, constructive higher level version of explaining why not. I hope it's high-level and first-principles enough that everyone can follow. They seem to want to understand what makes people tick, and are suspicious of intent. So, if someone asked me why is Bitcoin important and what is it, I'd say my (personal) mission and hope for bitcoin is to build the cypherpunk future, that "Snow Crash" was a blueprint, and work backwards from there. Bitcoin I hope leads to fully free markets via bearer unseizable, hard mathematically dependable money. Not everyone is comfortable with that level of freedom, but that's my view. And at this point, I believe that surprisingly, even now many governments have come to understand and value bitcoin's gold-like mathematical assurance, a positive development. Others may have milder views than myself, but still like hard censorship resistant money. Because of motive suspicion, if it's not obvious: I hate spam with a passion, that's how I came to design hashcash while researching decentralized bearer money with others, and running nodes in privacy related cypherpunk p2p networks nearly three decades ago. People seem upset about the default op return policy change in bitcoin. I will just assert, there are extremely robust and simple reasons for bitcoin changing default relay policy, and most just didn't do their research, so don't know what those are, or maybe not technical enough to fully understand though there have been 1000s of posts trying to explain in various simplified ways. So that lack of understanding lends itself to shared build-up of false narratives. So here's my back-to-basics higher level explanation. The decentralization needed to create cypherpunk money has implications a: side effect of decentralization is that you can't impose your views on others. The very decentralization mechanism that helps that, is working against what BIP 110 wants, which at it's most basic is a quest to police other people. I understand supporters don't see their intent like that, but introspect deeper. You can modify your software, but not anyone else's. Another critical and incredibly robust technical bitcoin immune system is bitcoin can't have people who don't understand technology basics insist on eroding security, decentralization robustness and core properties. That would end badly, fast, and so people will fight you on that. So the message is Bitcoin respectfully says "no" to what you want. Sorry, and bitcoiners do genuinely understand and empathize that you mean well, have high level thoughts that make emotional sense, and articulate sensible bitcoin-defensive high level ideas, but they are not grounded and without you seeing it, the way you propose to achieve your ideas, hard-conflict with free cypherpunk permissionless money. My advice is to listen to more experienced people who understand the system and why it works the way it does, to whatever detail you want to understand the grounded reasons for why this is the implication of decentralization and cypherpunk money. I guarantee you the developer and protocol ecosystem shares and exceeds your views on bearer hard money (and dislike of spam). You may not agree with individual developers choices, views, way of expressing themselves etc, BUT you also need to understand the IETF-like decentralized technical consensus process creates a protective change resistance, that is highly effective at protecting bitcoin mission. The implication of which is no developer can change anything without technical consensus from hundreds of other developers and protocol observers who are pedantic and extremely knowledgeable clever people who won't let any unaddressed technical question past. The protective change resistance is robust and decentralized in an amplifying way because of this technical consensus. And the many highly technical mainline developers' cypherpunk mission mindsets are probably far more determined than you can even handle on clarity of understanding and views about freedoms on permissionless networks, as many of you are probably still subconsciously inured by the matrix, where they have transcended that, and grew up immersed in it decades ago. They think natively in this space, while you are just grappling with the surface. Many wont have internalized or have the experience to know how this internet physics works, where there is no policeman, no policy authority, just mathematics, free market and hard money. That has implications for your views also, unfortunately. Now the tough pill, which is unfortunately true: If you won't listen to reason, educate yourself, learn, the same radical freedom applies to you: your permissionless recourse is to club together and create a fork. But bitcoin won't be joining it. (With respect and no sleight intended.) Please rejoin bitcoin now, or later if you're not convinced and need to experience 110 forking off and fizzling for yourself to start that journey of introspecting and learning. It would be sad if bitcoin lost people disillusioned due to simple lack of understanding of what's going on there, we're all trying to defend bitcoin and keep it on mission. Including btw the 110 technical promoters, just they wandered off plot somehow. Join the cypherpunks on bitcoin, come cypherpunk summer🌞 in a few weeks.
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The 4th of July arrival of the XMoney Card.
This is the sprit of independence and freedom.
Thank you SpaceX.
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Core: "what can the protocol do?"
Knots: "why should money do that?"
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@AdamBLiv Masterful.
How many people know the ref to the barrel joke? Cause it's in my top 3 all time.
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Nobody warns you. That's the sick part.
Nobody sits you down and says, hey, if you spend one weekend actually reading about money, you will lose the ability to enjoy anything for the rest of your life.
Your brother-in-law just mentions it at a barbecue. That's how it starts. Some guy holding a hot dog says "you should look into Bitcoin" and you laugh at him.
You laugh AT him.
You make the tulip joke. You feel superior for eleven more days.
Then it's 2:47 in the morning and you're on your fourth Saylor podcast and your wife thinks you're having an affair.
And in a way, you are.
You're cheating on your entire worldview.
ou came in to debunk it. That's the trap. Everyone comes in to debunk it. You wanted to find the flaw, dunk on your brother-in-law, and go back to your Vanguard target date fund like a respectable adult.
Instead you found out what happened in 1971 and now you can't make eye contact with your 401k.
Because here's what actually happens.
Bitcoin is cool and all, but you REALLY learn about the dollar. Bitcoin is fine, Bitcoin is twenty-one million and a schedule, you understand it in an afternoon. The dollar takes months, because every time you think you've hit the bottom of that thing there's a trapdoor.
The Fed just... prints it? And they gave how much to the banks in 2008? And the banks did WHAT with it?
And the guy who ran that got a MEDAL? You're up at 4am reading about the Cantillon effect like it's your kid's toxicology report.
Then comes the phase where you're insufferable.
Everyone goes through it, nobody admits it. You ruin Thanksgiving. You genuinely ruin it. Your aunt says turkey prices are crazy this year and you see your opening like a lion seeing a wounded gazelle.
Forty-five minutes later you're drawing the M2 money supply on a napkin and your mother is crying and your uncle is saying "it's not backed by anything" for the ninth time while his pension is backed by the promises of a government that's thirty-seven trillion in debt.
He's worried about YOUR risk profile.
He has unit bias so bad he'd rather own a whole Shiba Inu coin than a fraction of the hardest asset ever created, because his brain, poisoned by seventy years of fiat, thinks "whole thing cheap" beats "piece of thing good."
And the prices. God, the prices. You can't turn it off.
You're in the grocery store repricing eggs in sats. The eggs are getting cheaper in sats. Everything is getting cheaper in sats except your will to explain that to anyone.
You look at a house and you don't see a house, you see the number of Bitcoin it costs, and that number falling forever, and you realize the housing crisis is a measuring stick crisis, and you say this out loud at a dinner party, once, and now you're not invited to dinner parties.
Then the anger burns off and something worse arrives.
Clarity. You realize nobody is coming to fix this.
The people in charge KNOW. That's the part that breaks you. They're not stupid, they're incentivized.
The debt can't be paid, only inflated, and every serious person in a suit on television knows it, and their plan is to be dead before the invoice arrives.
So you buy. Coinbase, first time, hands shaking like you're doing something illegal, and the fee annoys you, and that annoyance is the last normal financial emotion you will ever feel.
You set up the DCA. You learn what a hardware wallet is. You write twelve words on steel like a doomsday prepper, because that's what you are now, except your bunker is math.
And then the loneliness. Nobody tells you about the loneliness. You've seen it. You can't unsee it.
And you're surrounded by people you love who are working forty years to fill a bathtub with the drain open, and when you point at the drain they get mad at YOU.
So you stop pointing. You just stack quietly, in the dark, waiting for the day one of them comes to you, at a barbecue, holding a hot dog, and says the words.
"Hey... you were into Bitcoin, right?"
And you smile. Because it's their turn in the barrel.
Welcome. Nobody warned me either.
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@S78382Sidley @AdamBLiv I’ve come to realize that some people learn through watching others, but most must learn firsthand youtube.com/shorts/PnjVLiy…
YouTube
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@AdamBLiv What I’m trying to figure out, Adam is why you and I understand Bitcoin. Why we understand money and so few other people do. How are we able to grasp this? Are we of super intelligence? Do we think differently?
This fascinates me…
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@FractalEncrypt @AdamBLiv I took it as everything now becomes a calculation of how much will this will cost me in the future.
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@AdamBLiv "you will lose the ability to enjoy anything for the rest of your life."
Glad im not susceptible to this disease. Shit works in reverse for me!!!
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This Lawnmower, It Has No Wheels!
Meet the 1983 Flymo and floats on a cushion of AIR!
The hovercraft lawnmower.
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@RandoomDude @barkmeta Sadly this has worked for Fiat for way too long.
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Realizing the best performing asset of the last 5 years wasn’t Bitcoin, stocks, or gold…
It was Pokemon cards.
Bark@barkmeta
The Pokemon card market just crossed $75B. Six years ago it was under $10B. Collectibles are the best performing asset class of the last decade and most people still aren’t taking them seriously. Position accordingly.
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@EricLDaugh Weaponizing the dollar only serves to accelerate alternate payment rails.
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🚨 HOLY SMOKES. Sec. Scott Bessent just said that because Iran BOMBED Gulf neighbors, those countries are suddenly opening up Iranian regime BANK accounts to Treasury
So he can FREEZE their assets! Checkmate playing out. 🔥
"What may prove to be FATAL mistakes the Iranians made was bombing their [Gulf] NEIGHBORS."
"Who are now willing to be much more transparent in terms of the funds, or do a deeper dive in investigating the funds that are held within their banking systems."
"So, we have pushed out to them the request that we want to freeze more funds of the leadership of the IRGC and any members of Iranian leadership."
"The other thing that we have done is we have told companies, we have told countries that if you are buying Iranian oil, that if Iranian money is sitting in your banks, we are now willing to apply secondary sanctions, which is a very stern measure."
"The Iranians should know that this is going to be the FINANCIAL equivalent of what we saw in the KINETIC activities."
Bessent is an economic ASSASSIN. 🇺🇸
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@TannerChasing Not really that water mark is way to much
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@rmpeddie @DefiantLs lol what is the owner of this building going to do now, collect insurance and get a new building. Boy he sure showed them.
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Bitcoin miners reserves are on a 15-year low of 1.8M BTC.
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@Mericamemed There are ~26 billion livable acres on Earth.
Only 21 million Bitcoin will ever exist.
1btc = 1250 acres
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