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Saifedean Ammous @saifedean
, 5 tweets, 1 min read Read on Twitter
Today in centrally-planned shitcoins:
Imagine how much human time & talent is spent on anticipating the decisions of central planners with absurd aggregate models.
Now imagine a world in which all that time and talent goes toward producing things of value to others. That's why bitcoin is worth the electricity.
Bitcoin is the utilization of large amounts of energy and cold reliable mechanical certainty to replace human labor, judgment, error, and trust.
Like any industrial technology, it replaces human time with energy consumption. If you don't like that, get rid of all your machines.
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More from @saifedean see all

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Play stupid games... win stupid prizes!
Two important lessons from this shitcoin's demise:
1- The price has barely budged, which shows that demand for these shitcoins has nothing to do with their function, security, or safety and is entirely driven by speculation on exchanges.
2- It took more than a day for ETC fans & promoters on Twitter to even realize this attack was happening after @pierre_rochard told them about it, because they couldn't find anyone who runs a node!
Read 3 tweets
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Bitcoin has now been operating for ten years without confirming a single fraudulent transaction, and without deviating from its original monetary issuance schedule.
Deal with it!
If Bitcoin continues operating for the next 30 years exactly as predictably as it has for the last 10, we'll only have ~20% more bitcoins in existence. Nobody has a clue how much more of government currencies there will be, but it'll be much more than today for those that survive
Unless you can stop bitcoin working (good luck!) or stop gov't inflation (good luck!) your thoughts & actions are irrelevant to economic reality imposing itself in the long run: harder money will hold value rewarding its holders, while easy money loses value punishing its holders
Read 4 tweets
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Anyone who believes proof of Stake can work is either:
1- completely clueless at to how and why Bitcoin works at all.
2- a con artist using it as a buzzword to promote a worthless scam like Ethereum.
Proof of Stake is no different than the Federal Reserve system, which is owned by its constituent banks, who have a monopoly on increasing the money supply you are forced use. It's the problem Bitcoin solves with proof of work by making money creation hard for everyone.
In a free market, productive people would choose the hard money over the proof of stake easy money. That's why central banking needs government force to protect its monopoly & why no shitcoin with PoS can survive without an army.
Read 6 tweets

Related threads

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THREAD
Text of the letter I just sent @CenterPovIneq

Dear Stanford Ctr on Poverty & Inequality,
This morning, I snarked off on Twitter at you, telling you to hire Linda Torado for a fellowship, because your ad for a fellowship automatically excluded the people you most need.
I am going to be pointed here: you’re gatekeeping by requiring a bachelor’s and using the coded phrase, “strong academic credentials.” You are doing exactly what you think you want to end.

Unless you’re disingenuous and your interest lies in extending poverty and inequality.
Let me give you my background. I grew up poor. My grandparents were factory workers and farmers. One grandmother was a probability mathematician during World War II — which yes, means she wrote and broke codes — but no University would accept her, especially not in Math.
Read 33 tweets
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#Khashoggi Case Thread: I am going to ‘pin’ this post to use it as an ‘Info Thread’ on the #Khashoggi Case. I am in #Turkey. I’ve been following the case closely and with access to sources & experts here. This is a very ‘sensitive’ criminal case due to ‘Diplomatic Booby Traps’!!!
The Evidence Obtained Outside Cameras will not show any evidence of ‘tempering’ but other than license plates of dozens of diplomatic cars (Many with tinted windows-large trunks) with related time stamp, drivers Info, model/year: Nothing.
#Turkish Intel-Investigative Bodies also have the list of all Diplomatic & Private Saudi & “other significant’ Planes in #Turkey for the period of ‘interest.’ Many of the Target airports have their own security cameras & related evidence.
Read 335 tweets
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I spent this morning at a detention center/prison(they are one and the same) with @NIJC and the immigrants in detention they help. They’re a @weareavodah placement; we’re proud to add capacity with our Service Corps members.

It is, ironically, located on Justice Way.

Thread.
I had to leave my phone outside; no photographs allowed. I was able to take notes, though. I'll share some of the things I learned and thought about, but am not going to share specifics of particular cases.
The atmosphere, as one might imagine, is concrete, dull fluorescents, stale stuffy air. It's not a lovely place.
Read 36 tweets
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God - The bottom of the rabbit-hole.

We have spoken about the Deep State, we delved further into the Luciferian stuff, and now, the final frontier is God. Understanding this will make everything else make perfect sense

....

#qanon
1st, know that all religions have been hijacked by the Luciferian Cult so we have been fed invalid information. These Luciferians have also found a way to "disconnect" us from God. Fluoride was one way because our Pineal Gland is like an antenna that downloads info from God.

..
The God of fear, anger, jealousy, ect... is another gimmick the Luciferians laid on us by altering the Old Testament. Erase that entirely from memory & imagine God being LOVE incarnate. The only thing love incarnate ever does is love. Nothing more, nothing less.

....
Read 56 tweets
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WHAT THEY WON’T TELL YOU ABOUT PERSONALITY TYPES

After 20+ years of study & practice, I still get shell-shocked by the power of personality type.

Expect to be triggered, whether you dismiss psychology because @nntaleb or think everything is archetypes because @jordanbpeterson.
The Big Five personality traits and the Myers-Briggs Type Indicator (MBTI) are the two most widely known personality instruments.

The B5 are based on the surveys & experiments of academic psychologists, while the MBTI comes from the psychoanalytic work of Carl Jung.
The B5 and the MBTI both are semantic constructs. They both are widely misunderstood and misused. They both are surrounded by myths and cults.

But one of them is virtually useless in practice compared to the other.

Read 64 tweets
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think MODELS #Models #fashon and #camGirls think #NXIVM & #rayChandler are many cam girls on chaterbate.com / myfreecams.com referred 2 as models? what if these kinds of sites R massive trafficking rings? think #catWalk #fashionTV (same?) sad eyes?
happy?
😠😡
Read 13 tweets

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#Shymkent #Atyrau #Iraq #Astrakhan #Kaşıkçı #aljazeera #PRAY #Erdoğan #Advent2 #FamiliesBelongTogether #NYTimes #Assassination #Pompeo #Apple #Saddam #DeepState #NewYorkTimes #American #SaudiLobby #Reform #FashionIndustry #cripsandspoons #UK #Soros #photos

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