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Adam Back
@adam3us
, 3 tweets, 2 min read Read on Twitter
I hope the #bitcoin elite does some interesting things with it. ✔️Citadels, but also 🌘moon base, 🌊sea-steading, 👑financial sovereignty for all etc. I'm far less interested in the money, than in what 200k activist Bitcoin investors can to innovate the world for the better.
Another factor is these future Bitcoiner UHNWI have a generally cypherpunk attitude, made their own money by valuing low time-preference, are young (on average vs typical UHNWI) and ready to bring about the cypherpunk digital self-sovereign future. #snowcrash was a blueprint.
Cypherpunks write code, build things, change things. Hopeful about political outcomes for the first time in decades. #bitcoin
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Adam Back
@adam3us
"While a lot of work is focusing on investigating and proposing future changes to Script and Bitcoin’s consensus rules to add extra features, we felt that infrastructure was missing to even use features that are already there in a generic, safe, composable, and interoperable way"
miniscript automates spending script satisfaction, so miniscript enabled wallets will be forward-compatible and capable of signing new scripts. how this works is the miniscript finalizer is able to figure out how to sign any miniscript, even yet to be written or user custom ones
"Miniscript extends Bitcoin Core’s wallet’s output descriptors and complements PSBT to enable fully general updaters and finalizers." So PSBT (Partially Signed Bitcoin Transactions) is a format for passing around and coordinating stages of multi-signing. miniscript automates
Read 5 tweets
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Adam Back
@adam3us
Cypherpunks were always more interested in censor resistant global payment, than new gold store of value. Latter was just a means of deployment, attractive for being permissionless "no banking interface". /1
New gold, as hedge against geo-political uncertainty, and inflation, turned out to be an adoption driver also as the S-curve of both married use cases of uncensorable payment and store of value go through adoption waves. People come to appreciate Bitcoin via different routes, /2
New gold makes Bitcoin itself an investment class. Uncensorable payment without SoV is harder to invest in - you'd have to invest in startups monetizing uncensorable permissionless payments. New gold appeals to gold bugs, investors & exposes a wider range of people to Bitcoin. /3
Read 5 tweets
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Adam Back
@adam3us
@sha3ftw @VitalikButerin @ladislavtweet @realjohnmonarch @danheld Figured I would get called toxic ☣️, but deflecting technical ridicule for funding Idiocracy level stuff is itself the actual toxic. Wasting $billions of human value and potential over the last few years is a serious problem. They were told about the defects privately first,
@sha3ftw @VitalikButerin @ladislavtweet @realjohnmonarch @danheld obviously it's a free world, but rather than tech discourse, they attacked science, economics and common sense with $billion dollar marketing budgets "maximalist", etc. Now I'm toxic? Sorry, not sorry: a ridiculous boondoogle is still ridiculous and waving a red flag won't change
@sha3ftw @VitalikButerin @ladislavtweet @realjohnmonarch @danheld We're in massive overton window territory, techno-babble, science project $billion marketing, Theranos and far worse has been normalised, even earnestly defended by the persuaded. Society must claw it's way back from the Idiocracy outcome. Bitcoin dominance index should be > 90%
Read 3 tweets

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🔨Robert Breedlove
@Breedlove22
1/62. As ambassadors of #Bitcoin, I believe we must speak the common tongue and avoid esoteric language so that our message can penetrate minds far and wide. Here, I will shed some light on the Bitcoin and cryptoasset universe in an exoteric nutshell. Let's begin...

Thread⬇️
2. When we look at the cryptoasset universe, there are two distinct hemispheres: 1) Bitcoin and 2) everything else, which are commonly known as Alternative Cryptoassets or Alts
3. Bitcoin is more akin to the internet itself, which is composed of an open-source protocol stack called the internet protocol suite (consisting of http, TCP/IP, etc.)
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Crypto Voices
@crypto_voices
1/ Here is the @crypto_voices Q4 2018 update on the global monetary base. This is the only economically comparable money supply to bitcoin's. #Bitcoin is the *18th largest currency in the world*. To dig deeper in what it all means, follow on below. This is installment #3. 👇
2/ To begin, it's important to understand the universal accounting identity: Assets = Debt + Equity. Today, it's true that all fiat money is debt-based. But before exploring fiat money, let's look at asset-based money.
3/ Traditionally, commodity money has been asset-based, most notably gold. Gold is a true asset of the holder. If you own gold free and clear, it is your asset, and no one else's debt, no one else's liability.
Read 68 tweets
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O₿iWan
@ObiWanKenoBit
1/You can ignore #bitcoin. But at your own peril.

The House of Fiat sits on shaky ground. It wobbles, lurches, insidiously eroding wealth one day at a time. Fiat is unsound, soft money designed to explicitly steal from taxpayers through opaque economic policy schemes.
2/The further we stray from sound money, the flimsier economic foundation- subject to oscillations manifesting as economic boom & bust cycles, resonating downstream for years, building & feeding upon one another until systemic tension bursts collapsing economies worldwide.
3/Instead of addressing this foundational error, the Fed and CBs offer liquidity “retrofits” pouring fiat money/credit into an inherently unstable house & assure us it’s safe to occupy! So called Fed liquidity reduces behavioral friction inducing wild market gyrations.
Read 15 tweets
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People of Space: Ute
@People_Of_Space
Hi everyone! :) I'm Ute (pronounced like “Oohter” with the emphasis on the first syllable. Equivalents are Audrey in English, Aude/Odette in French), and first of all I would like to thank @Taraustralis for the privilege of letting me host “People of Space” this week!
@Taraustralis Another special thank you goes to my direct predecessors, @marmatheghost and @martinesrymd, for their great contributions! Both have inspired some of the things I intend to talk about over the next 7 days.
@Taraustralis @MarmaTheGhost @martinesrymd Tara created @people_of_space so people from all walks of life could talk about their passion to a larger audience. Her intention will in fact also be this week’s motto: “Space is for Everyone”.
Welcome aboard; enjoy the ride! :)
Read 152 tweets
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Crypto Voices
@crypto_voices
1/ Very pleased to share a summer project: a comprehensive, supply-side view of the base money supply across the globe. What is base money? Gold? Fiat? Bitcoin?? Have some charts to share…
2/ To begin, it's important to understand the universal accounting identity: Assets = Debt + Equity. Today, it's true that all fiat money is debt-based. But before exploring fiat money, let's look at asset-based money.
3/ Traditionally, commodity money has been asset-based, most notably gold. Gold is a true asset of the holder. If you own gold free and clear, it is your asset, and no one else's debt, no one else's liability.
Read 61 tweets

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