Simple Steve 🌌

What's on chain x.com/i/spaces/1dJrP…

@0300dbdd1b @felipecreate While we’re being pedantic, according to the current consensus protocol there can be no more block subsidy after 2106 which means subsidy stops around 8 sats per block so the final 2 million sats can’t be mined

@felipecreate @SteveSimple 2,099,999,997,690,000 sats. Not accounting for unclaimed block subsidy. I'm just being pedantic 😅.

There will only ever be twenty one million billion sats

@graveskies Everytime a random person sends price information in their on chain transaction. So about once a second or so

How many of you actually check the price of bitcoin at least once a week?

@LukeDashjr @Kurtis_NZ @dathon_ohm If choosing to run a node is important I think you should consider not defaulting the two year limit

@Kurtis_NZ @dathon_ohm 1) Hardware can't keep up. Storage isn't relevant. 2) It's not enough that people _can_ run a node. They must also _choose_ to run a node. youtube.com/watch?v=CqNEQS…

Updated chain growth vs projected storage improvement chart using more historic input data and better modelling. #bitcoin won't die. Worst that will happen is near term people will have to upgrade their node hardware sooner than they hoped.

@felipecreate No one knows. If you ask people they’ll just say we’ll have to have a major hard fork at some point but we’ll think about that later. Then that same person will dedicate their brain space to 2144. This is pathological behavior

@SteveSimple Ok. What happens then?

The ideal number of bitcoin node implementation projects is three There’s a reason three is optimal for large scale check-and-balance systems

@felipecreate The timestamp of a bitcoin block header is 32 bits by consensus and must be in the future (greater than the median of the past 11 blocks). The time stamp of Feb 12th 2106 is 32bits of all ones. It is not possible to generate a consensus timestamp greater than that

@SteveSimple What's the 2106 bug?

@felipecreate Over my fifteen years in bitcoin I’ve heard people worry about what happens when the subsidy runs out (tail emissions, etc) hundreds of thousands of times. Yet with the 2106 bug it’s always crickets or kick the can down the road aspect. Suspicious choice of cans to kick

@SteveSimple What do you mean?

@felipecreate Odd how there’s a raging debate over what happens in 2144 and essentially zero discussion about how bitcoin died 38 years before that

@SteveSimple For starters? That's for endings.

This is how you know Ethereum isn’t money. No one working on Ethereum actually wants to be paid in ETH. Almost anyone working on Bitcoin at any level (research, protocol, applications, etc) would happily take BTC as payment. In fact it would be preferred.

@felipecreate For starters both Core and Knots are hard coded to halt on Feb 12th 2106

@SteveSimple Knots, restructure governance at Core, which other?

@setpato Love all that. A great system the anchors into Bitcoin via multi sigs. This is a user, not a component or element, of the Bitcoin system

The multisig part is true, Lightning channels are just 2-of-2 multisigs at the base. But the off-chain state machine sitting on top of those multisigs is doing something no regular multisig user does. Revocation keys, HTLCs, timelocked penalty transactions, that's a protocol layer, not just a spending pattern. The L2 label isn't about the keys. It's about the state.

Lightning is a perfectly fine user of Bitcoin multisigs Lightning is real bitcoin Lightning is not a layer two of Bitcoin any more than any user of multisigs is a layer two of Bitcoin Either we are all layer 2 or lightning is not a layer 2

@philip_dath I have systems related to my own personal multisigs. Are they a layer 2?

Lightning is 100% a layer 2. It's off-chain (and there is a hint there) transactions are *not* stored on the Bitcoin blockchain. You spend Lightning against a commitment you have secured with on-chain Bitcoin (a funded channel). Eventually, you have to meet that commitment, close the channel, and make an on-chain transaction using real Bitcoin.

Who wants to see these guys on #FREEDOMTECHFRIDAY?

@Multicripto @umbrel How have you been so productive. What AI are you using

Use it in @umbrel #umbrel" target="_blank" rel="nofollow noopener">am-i.exposed/setup-guide/#u…

@BitcoinBombadil @_colourorange If one thinks something like vaults is gonna have an impact on self custody, then you do not run a meetup where you regularly try to convince folks to self custody. Also you probably don’t remember how wrong taproot was about its advertised “use cases”

@BitcoinBombadil @_colourorange I need a justification besides “improves L2s” and “use cases” Changes to L1 need to address problems with L1. I don’t see what L1 problems CTV fixes. We are not in need of making L2s better. Bitcoin grows stronger via miner decentralization, self custody, and self nodes

I can’t reply because Pledditor blocked me… I’ve read a decent bit of Jeremy Rubin’s writings on CTV… PolyD’s also before he blocked me… What’s the best educational resource to learn about CTV in your opinion, @_colourorange

My net worth peaked at $1.2 million. None of it was real. I don't mean that philosophically. I mean it was located on servers that have since been turned off. I own eleven properties in the metaverse. Three in Decentraland. Four in The Sandbox. Two in Voxels. One in Otherside. And a beachfront villa in Horizon Worlds that I bought for $214,000 because Mark Zuckerberg called it "the next frontier." The frontier closed last week. It's a mobile app now. Last year I mass DM'd 340 people the phrase "you don't understand how early we are." I have since stopped doing that. Not because I was wrong. Because most of them blocked me. I got into metaverse real estate in November 2021. Everyone was buying. Someone paid $450,000 to be Snoop Dogg's neighbor. In a video game. With no legs. The avatars didn't have legs. I thought that was bullish. "The legs are coming," I told my Discord. "Legs are a roadmap item." Three hundred people reacted with rocket emojis. I called myself a "digital land baron." I put it in my Twitter bio. I put it in my LinkedIn headline. I said it on a podcast that had eleven listeners. Three of them were bots. The rest were my alts. My virtual property has more square footage than my actual apartment. My actual apartment has furniture. Location, location, location. My most valuable asset was a plot next to a virtual Gucci store. Gucci left in 2023. The store is still there. Nobody's in it. It's like a mall in Ohio but with worse graphics and no food court. I held. Diamond hands. That's what we said. "Diamond hands." It means refusing to sell while your investment loses 94% of its value. We turned financial paralysis into a personality trait. A guy in my Discord paid $2.4 million for a 618-parcel estate in Decentraland. Prime district. High foot traffic. I asked him what "foot traffic" meant when the platform had 38 daily active users. He said I didn't understand the technology. I didn't. I still bought more. We had a DAO. A decentralized autonomous organization. That means we voted on decisions. There were nine of us. Three never showed up. Two voted on everything without reading it. The other four were me and my alts. We voted to "acquire strategic parcels." The vote passed unanimously. I voted four times. My portfolio peaked at $1.2 million. I told everyone. I made a spreadsheet. I projected 40x returns by 2025. I made a pitch deck. The pitch deck had a slide that said "WE ARE BUILDING THE DIGITAL ECONOMY." The slide had a rocket emoji. That was my entire financial model. In 2023 I bought a Bored Ape for $189,000. It's worth $14,000 now. I don't talk about the Ape. I still use it as my profile picture. People ask me about it. I say "I'm long-term bullish." Long-term bullish means I can't sell it without crying in a Panera. My mom asked me what a Bored Ape was. I said "digital art on the blockchain." She asked why it cost more than her car. I said "you don't understand Web3." She said "I understand you live in a studio apartment." She's not in my Discord. Justin Bieber bought one for $1.3 million. It's worth about $90,000 now. I felt better about mine after I heard that. That's community. WAGMI. We're All Gonna Make It. We said that every day. In the group chat. While the floor dropped. While the volume dried up. While 95% of all NFT collections went to zero. We're all gonna make it. None of us made it. But we said it with conviction and a laser-eye profile picture. That counts for something. It doesn't. But we said it did. That's decentralized consensus. Meta spent $84 billion on the metaverse. I need to say that again. $84 billion. More than the GDP of Luxembourg. More than the GDP of Iceland, Luxembourg, and Malta combined. They spent it on a platform where the avatars had no legs, the graphics looked like a 2006 Wii game, and the peak user count was lower than the lunch rush at a Chipotle in Des Moines. They just pulled Horizon Worlds from VR headsets. It lives on as a mobile app. My beachfront villa is now a mobile app. Location, location, location. Zuckerberg renamed the entire company for this. Facebook became Meta. A $900 billion company changed its legal name because the CEO watched Ready Player One and said "I want that." Reality Labs lost $10 billion in 2021. $14 billion in 2022. $16 billion in 2023. $18 billion in 2024. $19 billion in 2025. That's not a strategy. That's a speedrun. They laid off 1,500 Reality Labs employees this year. Shut down three VR studios. Killed Supernatural. Put the entire VR social vision in a casket and said "we're pivoting to AI and wearables." The pivot took four years and $84 billion. I pivoted too. I'm an AI real estate investor now. I bought a virtual plot in an AI-generated world that doesn't exist yet. The founder said it was "the intersection of spatial computing and large language models." I don't know what that means. I gave him $40,000. He has a whitepaper. It's 47 pages. I read the title and the tokenomics section. The tokenomics section is a pie chart. I love pie charts. They make everything look like a plan. The project has a roadmap. Q1: "Build community." Q2: "Launch beta." Q3: "Scale ecosystem." Q4 is blank. Q4 is always blank. That's where the exit scam goes. My accountant asked me to value my metaverse portfolio for tax purposes. I said $1.2 million. He said "current market value." I said $6,400. He stared at me for eleven seconds. I know because I counted. He asked if I had any other investments. I showed him my NFTs. He stared for longer. I told him they were "cultural artifacts with long-term provenance." He asked if I'd considered a 401k. I told him a 401k was "legacy finance." He told me to leave his office. The metaverse is dead. I don't accept that. I am a digital land baron. I own eleven properties across four platforms. I have a beachfront villa in a mobile app, a plot next to an empty Gucci store, and a cartoon monkey that cost me more than my actual car. Location, location, location. The location is nowhere. But I'm early. I'm always early. That's the same as being wrong except you get to say it with confidence.

@Multicripto @SamouraiWallet @SamouraiDev Bro. Normie/Cypherpunk switch. Absolutely genius legend

Dedicado a los devs @SamouraiWallet y @SamouraiDev, hoy encarcelados por desarrollar herramientas de privacidad en Bitcoin. Estamos eternamente agradecidos por todo lo aprendido. Esto va para ellos.

@Multicripto @SamouraiWallet @SamouraiDev Heroic. Thank you