đź‘‘ #6125Grandkids member https://t.co/WQDSkHxFdR to grok bitcoin, https://t.co/amqxpZwdac to secure it and https://t.co/zZQEIkHD0f to opt out of central bank idiocracy.
Jul 3, 2022 • 18 tweets • 4 min read
Fractional reserve banks are insanely profitable frauds until they blow up.
But what if you could make deposits not due on demand? Instead the depositors get a bank note that they think is an asset itself.
…
Instead of customers thinking they can go to the bank and withdraw money at any moment they think they have purchased something that has value in itself.
For example instead of depositing money you exchange your money for a stock or bond or whatever.
…
May 24, 2022 • 5 tweets • 7 min read
The list of countries where #bitcoin is not subject to capital gains and is therefore as good as legal tender is massive.
.@HonkHonkHodl went from a cute fundraiser, to a massive fundraiser in 2 days.
Then it looked like it was becoming a rug pull and turned into a rescue operation of @NobodyCaribou -his safety was my top priority.
And finally a victory of kindness by the excessive mercy of God…
Today the rest of the evidence (videos and pictures) will be posted that the funds were distributed.
Tomorrow @NobodyCaribou and I will be rested enough to do a Space so we can answer all questions.
And everyone else that either helped us think through the issues constructively or helped in the background.
I think it’s safe to say @NobodyCaribou and I couldn’t have catered a lunch for 80 truckers in 48 hours ourselves and this community just fed that many financially suffering people 1.4 million Satoshi’s each to care for themselves and their neighbors.
Aug 12, 2021 • 11 tweets • 3 min read
I’m convinced the political elites will end up owning 90%+ of #bitcoin before we reach global adoption.
…
1. They can simply use the trillions of dollars at their disposal to buy bitcoin fair and square. Guessing this gets to 40%.
2. Use control of media to push price around to get cheaper coins.
3. Use influence on exchanges (operation mockingbird style) to manipulate price.
…
Aug 4, 2021 • 17 tweets • 8 min read
The head of the SEC made it very clear that if you:
1. Give money. 2. With the expectation of profit. 3. From the work of others.
You've invested in an unregistered security and that is illegal in the US
Here is why he also made it clear #bitcoin is not this, but "most" are...
When bitcoin was released Satoshi posted code. Some people chose to run that code and mine bitcoin. No money was ever invested by anyone to anyone else for the purposes of building anything.
Eventually people chose to exchange bitcoin for money.
Bitcoin was built for free.
...
Aug 2, 2021 • 4 tweets • 2 min read
“Normal people” will never take “self custody” of their #bitcoin
And even if they do they will find a way to make it fully trust based like Casa or Cold Card.
Bootlicking is in their blood. It’s natural and they love to ask permission and trust personalities.
…
But that’s only because they’ve been training from childhood to live in fantasy.
In their world everything is fake. Cash, stocks, education, certification, licenses and even reputation are whatever their god the state determines.
State power is the only thing that exists
…
Jun 25, 2021 • 9 tweets • 2 min read
Without #bitcoin a lot of us think the financial system would collapse in the USA soon.
The nightmarish reality is that we still have plenty of time to slide closer into the third world poverty lifestyle of Japan.
It's not a coincidence "Satoshi Nakamoto" is trying to save us..
The Japanese work long hours in high tech jobs, yet they can't afford a bed. They sleep on mats in tiny apartments, ride bikes (because cars are expensive), eat out with their fake families (work "friends"), can't afford to have a large family, eat a lot of soy...
Jun 5, 2021 • 11 tweets • 3 min read
It appears that El Salvador is going to make #Bitcoin “Legal Tender”
I believe this means three things:
1. No taxes on bitcoin. 2. They are going to hold it as a reserve. 3. They are going to encourage adoption.
If this is true this will have profound impact…
On the lives of millions and f people. The US has had a policy of “containment” since 1823:
The motivation was ostensibly to prevent any foreign nation from having undue influence on the security of the US by preventing “colonialization”
But…
Apr 1, 2021 • 28 tweets • 6 min read
#bitcoin is amazingly resilient. Even if an attacker broke the code or we suffered a nuclear war that bombed us back to the stone age the UTXO set would be recovered and bitcoin would come back online with existing holders largely being unaffected
HOWEVER...
If I was a central banker my focus would not be on attacking the network, but in discrediting the UTXO set itself.
This might actually be cost effective given the sad state of self custody.
Thanks to @bjdweck@zachherbert@GaryLeland@thibm_@martindale@SomsenRuben@sanket1729@TheCryptoconomy@AaronvanW for providing their reviews and to my 14 year old daughter for doing all of the design and coding.
The goal was to gather together the opinions of as many people as possible to show that there are best practices that we pretty much all agree upon and direct new bitcoiners quickly and easily to a bitcoin storage solution or wallet that fits their needs.
...
Dec 25, 2020 • 5 tweets • 1 min read
My Christmas gift to you:
When someone objects to bitcoin because it won’t allow for big government or harms the environment don’t address the objection. Instead...
Simply explain that their opinion doesn’t matter anymore. They have lived in a world where mob might makes right so they assume their opinion of something has an impact upon it - because for things not government hard this is true at this soviet moment in history...
Dec 23, 2020 • 10 tweets • 3 min read
Proud to announce that YetiCold.com 2.0 is released!
Thanks to the great work being done by @bitcoincoreorg we are most proud of the code we deleted.
...
Descriptor wallets are now supported by Bitcoin Core. This means all of the send and receiving features, everything from selecting a destination address to dealing with change, is no longer a Yeti thing.
...
Nov 26, 2020 • 5 tweets • 2 min read
Techn gets adopted rapidly and in very unpredictable ways.
Text based search (google) looked lazy and sloppy and many expected “topic maps” to be the killer app of the internet.
Social media in many ways is a poorly designed email system merged with digital scrapbooking
...
Merged with a dynamic and super sloppy mailing list.
The iPhone was a super obvious upgrade to the early windows phones as soon as high fidelity touchscreens existed, but the App looked completely backwards when all was going “web app.”
...
Nov 19, 2020 • 24 tweets • 4 min read
Why Greg Maxwell thinks #bircoin hardware wallets are a bad idea (even for noobs).
Greg is a legend that, among many other heroic accomplishments, discovered covert
ASIC boost - arguably the worst security flaw ever found with bitcoin.
...
“I don't think very highly of hardware wallets. They're opaque, largely unauditable. Most are crapped up with sketchy altcoin support that forces them into objectively less secure cryptographic code and makes them harder to review.”
...
Nov 18, 2020 • 12 tweets • 2 min read
#Bitcoin is pumping because the Maximalist are correct. Here is what they know:
Economics
-We are cypherpunks. We are anarcho-capitalists.
-Monopolies can’t exist unless they are supported by governments that protect them from competition.
...
...
-Monopolies in security and defense services have the same type of effects as other monopolies - poor quality products with high prices.
-Governments particularly enjoy monopolies on security services because it prevents citizens from being protected from the government.
...
Nov 16, 2020 • 13 tweets • 3 min read
I know things seem hopeless right now.
We appear on a fast track to global socialism and we are living through the most destructive economic policies conceivable.
Truth has become a joke and almost everyone is participating in a cult of lies and government power
...
And I must admit that I am not sure we can get out of this. I am hopeful bitcoin will survive this and be the tool that helps us escape future attempts to destroy the productivity of the world, but an Internet shutdown or global censorship of it is no longer insane.
...
Nov 15, 2020 • 4 tweets • 1 min read
Damn it Greg Maxwell, Adam Back, Nick Szabo and Tim May!
Can't you let me have one original idea that I'm not accidentally stealing credit for?
Hardware wallets r dumb.
old.reddit.com/r/Bitcoin/comm…
"The badness of the supply chain vulnerability is so severe that I just cannot recommend a hardware wallet except for casual low/moderate value use where it doesn't really matter what security properties you use."
1. China is primed to over react by SARS and their central planning, “big project” mindset.
2. They identify and label a virus - doesn’t matter if it’s months or years old or new.
3. Between distrust for China and China’s response ....
3. Between distrust for China and China’s response media companies dying for clicks cause people to freak out.
This happens every year with typical hurricanes, floods and other disasters.
4. Politicians, even this like Trump that resisted the panic realize...
Nov 17, 2019 • 9 tweets • 3 min read
If you have a teenager and you proud he can read you are 100 years behind.
He needs to learn to code. Here is how to get it done and change his future.
...
1. Have him complete all the levels on mathbot.com
He will learn most of the difficult concepts in programming, like recursion, in a couple week.
Oct 15, 2019 • 6 tweets • 2 min read
Quick guide for running a bitcoin full node with mobile wallet interface for less than $130 bucks.
