ScarcityMan

Bitcoin is money. Nothing else. That's what I would like to see ossified.

Don't let Isabel Foxen in the henhouse! x.com/isabelfoxenduk…

@BitcoinAIGuy @mikealfred "You couldn't be more WRONG! According to my squiggles, all your positions are going to $1. It's just math, and you're all too poor to invest in my fund." -- David Leavingsoon

@mikealfred i would rather die than be a 70 year old David leavenson, living in a 1 bedroom apartment with his girlfriend (a cat)

Exactly one year ago, IREN was a week away from bottoming just above $5. Now it is $35 but based on what you read on Twitter, you'd think it was below $5. Remember, folks, most people should not be trying to do this. Buy index funds, hire a financial advisor, retire at 65. Easy

@chatgpt21 I don't get it. How is this different from what already exists?

Google has developed a new internal AI tool named “agent smith” Remember, we are still waiting on project, mariner which deepmind demod in December 2024.. which had not released till the summer last year and is only available to early access users on the ultra tier. So hopefully this is Google’s response to anthropic’s computer use & dispatch, as well as OpenAIs Atlas and Agent Apparently, Google’s agent Smith had to become so popular that “the access had to be restricted to handle the influx of employees”

@dschun @Handre That's the whole point.

@ScarcityMan @Handre I hope you don't think that the USSR was an economic powerhouse during the Cold War? Far from it. The Soviet Union relied heavily on western imports.

The Berlin Wall created the most brutal controlled experiment in human history: identical people, split by ideology, watched for 41 years to see which system would prevail. West Germans embraced market economics while East Germans suffered under socialist central planning. The results? Devastating. By 1989, East German GDP per capita sat at roughly 30% of West Germany's level. East Germans consumed 40% fewer calories, owned cars at one-tenth the rate, and waited 12 years for a telephone connection. Meanwhile, their western cousins enjoyed rising living standards, technological innovation, and personal freedom that made West Germany an economic powerhouse. But the socialists had excuses ready. "East Germany started from a worse position after the war," they claimed. Bullshit. Both regions faced identical devastation in 1945. The Soviets actually stripped more industrial equipment from their zone (roughly $10 billion worth), yet this affected rural areas less than urban centers. And East Germany possessed abundant natural resources like lignite coal and uranium that should have provided economic advantages. The real difference? Property rights, price signals, and entrepreneurship versus state ownership, price controls, and bureaucratic allocation. West Germans could start businesses, invest capital, and respond to consumer demands. East Germans filled quotas set by party officials who had never run so much as a lemonade stand. You can't coordinate an economy through committee meetings and five-year plans when prices tell you nothing about real supply and demand. East Germans voted with their feet—2.7 million fled west before the Communists built their wall in 1961. After reunification, investigators found Stasi files on one-third of the population. When you need secret police watching every third citizen, your economic system has already failed.

Oh, an accusation of stupidity from a taproot wizard shitcoiner... I will take this bait all day long. The threats are not comparable in their impact, urgency, methodology, purveyors, or pretty much anything else except that they both reside in the same generic category called "threats." I'm guessing you didn't do well on the analogy portion of your SATs. Look into it a little more than not at all, and you'll see quantum is a potential problem, but mostly FUD at this point in time. Why are jpeg wizards and poop and dick pics an existential threat to bitcoin? Stop for a moment and consider how amazing it is that this even REQUIRES an explanation, but here we go... It's because bitcoin is trying to be money, and any use case that competes with something as money will degrade it over time. Imagine people started to use dollar bills as toilet paper instead of currency. You'd take a lot of it out of circulation, right? Every dollar you spent would now be competing for its life as currency or shit-covered rag. Over time, it degrades the supply, and causes problems for the network, like because it adds weight in the form of shit, and not every banker would want to touch it. Some of them might find themselves in a new legal regime that would really make it difficult. This is especially a problem if you can't just print more, but even if you could, it imposes a cost, and that cost must again be born by a network fighting for its life to remain a medium of exchange rather than a disgusting, sopping wet, piece of shit-covered trash from people so stupid and immature, they can't tell the difference between it and Charmin. I'm proud to be part of an immune system that is kicking the sociopathic, short-sighted, economically illiterate, sub-room temperature IQ viruses out of the host body.

bitcoin maximalists simultaneously argue that quantum isn’t posing any danger to bitcoin AND that jpegs of wizards and penises are an exsistential threat this is past stupidity at this point. these people are feds

@isabelfoxenduke I want the market for non-monetary spam garbage to die, soooo... partial credit?

I do agree that most BIP 110 supporters are feds. At least at the leadership level. They clearly want any hope of a Bitcoin fee market to die — and for the network to death march to zero security bitcoin.

@BitcoinAIGuy $WEN

SOMEBODY KNOWS $IREN

@Seanavocado @AdamBLiv I'm open to better implementations of securing private keys than seed phrases, but it still beats pretty much everything else, in my opinion, especially I can still store it in a 3rd party vault if I wanted to, granting whatever the benefits of that would be.

@ScarcityMan @AdamBLiv Your debate doesnt take away from the weakness of the crypto seed phrases as a security measure. The world cant run on seed phrases. While hardware wallets are better, they have the same limitations. Crypto still needs to solve banking DID related wallets

Peter Schiff looking at tokenized gold like a homeless alchemist discovering Venmo. “Gentlemen, I have done it. I have taken the boomer rock, added an app, and finally defeated Bitcoin.” This man has spent 15 years watching Bitcoin eat the global monetary system like a rabid raccoon in a pantry, and his grand counterattack is "what if gold, but with a login screen?" Tokenized gold is still gold. It is still heavy, centralized boomer pet rock cosplay with custody risk, counterparty risk, redemption games, and the same limp performance profile that makes Ambien look like cocaine. Bitcoin removed the middleman. Peter’s big innovation is re-hiring him.

@Seanavocado @AdamBLiv Well, we definitely agree that dark ages mean larger problems than monetary policy! I wonder how much monetary policy would be the cause...

@ScarcityMan @AdamBLiv also if we enter the dark ages you describe, it will be wars, enlistings, drafts and death and we will have bigger things to worry about than BTC. Which still doesnt work as a full monetary stack, until it has credit systems

$AGX up $155 today on earnings beat, almost 38%! Huge move. I wish it were in my portfolio instead of my watch list. 😀

This is triggering the bears so badly today 😂😂😂

Just a friendly reminder that Bitcoin is $300k 2 years from now without a bull run. Have fun waiting for that $35k entry bro.

I don't know if you've thought this through. Evading counterparty risk is one of the entire reasons bitcoin exists. Bitcoiners don't want 3rd party custody for a host of reasons. But if you did... you have no shortage of options. You can still choose to secure your seed phrase in a vault owned by a 3rd party, just like you can with gold. You even more exotic options that gold doesn't have, due to the physical nature of gold. The difference is, with bitcoin, you have that choice. With gold, you don't (due to the impracticality of self-custody). You're free to do what you want with your money and investments, but there is no debate that bitcoin is far superior to gold as money. How could it not be?---It was designed that way from scratch, whereas gold was discovered. The only case where gold wins is if the entire world gets plunged into a new dark age, at which point, good luck getting it out of that vault you don't own.

@ScarcityMan @AdamBLiv The Gold vault is secured and insured by someone else. No one is breaking into your house and stealing a phrase. its not dependant on my memory. Its not a house fire away from ruin. The seed phrase is the achilles heel of crypto, its weak and not fit for purpose

@jamesob What is still preventing you from lending your support?

I'm not a BIP-110 guy, but I can attest that the claims and dynamics are all consistent with what I saw firsthand. Article is well researched.

@Seanavocado @AdamBLiv Sure, but there are plenty of ways to make that safer/easier, and none for gold. When you need to flee a country, what's easier to take with you, your gold vault or 12-24 words you can remember...

@ScarcityMan @AdamBLiv holding seed phrases as a rule is dangerous too, especially in a world where its the norm. There is a reason the world drifts towards banks, and it wasnt just the weight of the gold

@solari_the How would they destroy the local economy, and what does "local economy" even mean in this context? Did you learn to be this vague as a Wall Street exec?

Crypto bros forgot to mention they want to destroy the local economy and tax base and covert our money to programmable money in a digital control grid.

@dschun @Handre But the same was true for the USSR and East Germany, so that's a wash.

It's not so clear cut. Back then, West Germany was helped a lot by Washingtons economic might. As long as there was an alternative to capitalism, Washington had a great incentive to show the prosperity of the "free market" system. With the end of Communism, Washington's only goal was and is to destroy any possible relationship between Germany and Russia.

@Seanavocado @AdamBLiv It's not just a big problem for the average joe, it is a big problem with gold, and it's one of the reasons I don't think too highly of it. But to each his own.

@ScarcityMan @AdamBLiv Blockchain gold assets if done right are better than hidden paper gold IOUs we presently have. The space is big enough for everyone Gold is still very valuable and should be on chain. People just dont want to handle storing actual gold, thats the big problem for the average joe

@simogattok @AdamBLiv I think you're confused. New blocks added to the chain represent the speed limit/amount of new transactions, not to owning, holding, or self-custody, which is what I'm referring to when I talk about self-sovereignity.

@ScarcityMan @AdamBLiv The daily issuance of BTC blockspace defines very well that number. It's not a "everyone". Probably you meant "anyone". Plus, this tiny minority is likely way less than the number of people who actually trade physical Gold daily (the equivalent of self custodial BTC).

@MelMattison1 You do not understand how a treasury institution works.

Never been more true. Well over a year ago, I called it.