SLP284 @SGBarbour #Bitcoin & Fossil Fuels vs Fiat Maxis

Steve and I chat:
- Wind and Solar as unreliable
- compliance costs
- Carbon ESG is it a state attack?
- industry BSing
- @upstreamdatainc & hash hut Image
@SGBarbour @upstreamdatainc "It's just like, sweep it under the table. These are clean. Give me my subsidy to go to this project and let's ignore the elephant in the room."
"I consider all Bitcoin miners doing great things for humanity, with helping secure, helping distribute, helping produce the greatest money that has ever existed, the greatest freedom money that ever existed."
"why are we inviting transparency into mining energy use? First of all, who cares? Like who cares, what energy is being used? Like I said earlier, we're all doing a huge benefit to society."

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More from @stephanlivera

17 Jun
Listening in to #Bitcoin Mining Council spaces hosted by @michael_saylor…
@michael_saylor Idea being an open forum to share best practices and promote transparency.

(I'm not convinced 'transparency' is necessarily a good thing)
@DarinFeinstein notes the framing of bitcoin miners being on the defensive. Energy use and emissions required is 'perceived' as a problem.

Notes the very small fraction of energy use takes. Less than a fraction of 1%

(perhaps not a good long term arg.)
Read 45 tweets
9 Jun
Paraphrasing @nayibbukele from @nic__carter's Spaces on #Bitcoin legal tender:

El Salvador govt will have a govt-wallet for merchants (but it won't be the only choice), as Bitcoin is an open network
@nayibbukele @nic__carter Company balance sheets will be in USD, but taxes can be paid with Bitcoin.

Debts will be able to be paid with Bitcoin.
There will be a trust fund put in place by govt, which will assume the price-risk of the merchants, and deposit USD for them, even if the customer pays BTC.
Read 24 tweets
7 Sep 19
Highlighting a few fantastic sections from Ludwig von @mises in Theory of Money and Credit:
@mises Inflation sends false signals to businesses, making them think they're making profit, when really they're consuming their capital.

Monetary depreciation falsifies capital accounting.
@mises Totalitarian govts don't want their subjects to shield themselves from monetary depreciation.
Read 6 tweets
23 Aug 19
Some consequences of inflation and hyperinflation, as discussed in Adam Fergusson's "When Money Dies" book:
Thanks Fiat Money! For driving poverty and malnourishment.

"All children of every class... were two years physically and mentally backward for their ages"
"Rise in prices intensified the demand for currency"
" ration the cashing of cheques"
"business came to a standstill"
"Wages were simply not available"
Read 15 tweets
1 Mar 19
@iwearahoodie 2/ First off, we should look at Bitcoin as a multi decade monetary phenomenon. We have to be patient overall!

The altcoins that try to rush this end up becoming the irrelevant 'kiddy pool'.
@iwearahoodie 3/ "The fees just get too high" - Yes the fees will eventually rise, and arguably this is baked into the design. But there are ideas on how to let people participate using things like channel factories.
Read 19 tweets
16 Jul 18
1/ "Intolerant" and "toxic" bitcoin maximalism? Understand what's going on beneath the surface with altcoins and their affinity scamming
2/ Affinity fraud: "in which the fraudster preys upon members of identifiable groups, such as religious or ethnic communities" "The fraudsters who promote affinity scams frequently are – or successfully pretend to be – members of the group"…
3/ They try to make out like it's a 'crypto community' and align themselves with known bitcoin pioneers and advocates.
Read 8 tweets

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