"Bitcoin is protected by a wall of encrypted energy. The fact that there's a lot of energy involved is a good thing. It creates security to the network." -- @michael_saylor
3/ How did he do it? He dove down the rabbit hole, quickly and deeply. Bitcoiners know that all roads lead to Bitcoin maximalism. For some, it's a long and rocky path. For GigaChad it's a 5 minute ride in his rocket car.
2/ We often forget how far we have come, and how difficult the most basic stuff used to be. In Bitcoin, some of the basic stuff is still difficult.
Pete in 1991: "What is an IRQ?"
Peter in 2020: "What is an XPUB?"
3/ But also in Bitcoin we have come far: BIP32, BIP39, BIP44, BIP141 - all of them make Bitcoin easier to use. We take them for granted, but we shouldn't. A lot of thought and hard work went into these improvements, leading to better UX in the end.
1/ Now that the Chad money is coming in, let's look at what moving to a bitcoin-denominated balance sheet might mean.
On inflows, outflows, balance sheets, and how a circular orange future might resolve the points of contention in #Bitcoin
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2/ In essence, every economic actor needs to have an economic inflow to survive. This is true for individuals, companies, and even states.
A healthy actor has more inflow than outflow, resulting in a positive balance. Spending is necessary for survival or growth.
3/ Most economic actors sell goods and services to generate inflow. Sooner or later, what they earn is spent again on other goods and services. A payment is simply a moment in time where one is given what is due for goods or services.
I recently finished The Price of Tomorrow by @jeffbooth. The book gives a good introduction and overview in regards to the two grand themes that are currently playing out: the rise of AI and the downfall of fiat money.
Quick thread in case you want to dive deeper.
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2/ In regards to AI and exponential progress, I highly recommend @waitbutwhy's lengthy two-part blog post from 2015. It does a great job of explaining what's going on and is quite thorough (if you can't be bothered to buy any of the books below).
3/ If you want to dig even deeper there is probably no better book than The Singularity Is Near by @raykurzweil - it's a bit dated and can seem outlandish at times, but the general concepts presented in the book are as relevant as ever.