Bitcoins/Litecoins/Virtual Currencies

Haus said:

I agree, it's long since overdue for us to go to a more proper and stable system. That being social order based on combat prowess and land ownership.

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Long for a return to feudal times, huh?

US is going to shoot themselves in the foot RE: Bitcoin mining. This move is going to look incredibly stupid in 10 years when hashrate has fled the country and all of the sudden US has its pants down with no substantial holdings of BTC and no control over mining. They gunna 6102 YOUR BTC to make up for that. The strategic advantage of holding a significant amount of hashrate within your borders is being missed here.


Also worth noting that the logic behind the tax (Miners use tons of energy! Especially that nasty fossil fuel energy!) is quite neatly refuted here:


EDIT: Another article refuting ESG Bitcoin FUD. Bitcoin is good for energy policy. On-demand energy consumption lowers consumer price

So it looks like Balaji settled that bet that BTC will hit 1 million by June of this year. Update below with probably the most succinct explanation of where we stand today financially and why he chose to blow $1.5 mil. I think this guy is wrong about a lot, but this video is pretty good.


TL-DW: Buy Bitcoin

So I still have some reservations about Lowery's thesis, but I did find this presentation pretty interesting. He is MIT graduate and an officer for the Space Force:


TL-DW: Bitcoin may represent more than secure digital currency. It may be more accurately described as digital power projection, and if so is very much more valuable that just base layer money.

reavor said:

Looks like BTC is gonna be dragged kicking and screaming from the dark ages to the light of layer2 and brc20, maxis not understanding this is the true adoption they always dreamed of, and it was always a part of btc.

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People spamming the mempool with cat jpegs will run out of Bitcoin and things will continue as normal. BRC-20 can both bring adoption and be a complete waste of resources. Bitcoin is by nature a completely free market though so people are allowed to waste their BTC on miner fee's for this stuff. It won't be the last time this sort of silliness occurs.

Everything makes Bitcoin stronger

EDIT: BRC-20 is not layer 2 for Bitcoin lol... also Udi is a turd

This is probably going to be a pretty big week for Bitcoin with the conference this weekend. Figured this is a good way to kick things off:


MicroStrategy has developed a system for corporations to attach a lightning wallet to every email address in the company as well as creating them for clients/customers. I dunno how successful this sort of thing could be, but getting micropayments (in Satoshis) for showing up to a meeting on time or finishing your training on time, whatever, looks to be a reality. Obviously this could also be rails for paying employees in Bitcoin. Maybe not something we in the West want right now, but if I'm hiring talent in the global south (especially in countries without good USD rails) perhaps that is useful.

I expect the big news to come out this week to be around Fedimint. If you're not aware of that check it out, looks like its going to be a pretty big deal.

Intrinsic said:

Someone @me when my Eth and TRU hit like $10,000.

Thanks.

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You got rugged sir. Please file complaints with James

Did not expect to wake up this morning and agree with Andrew Tate.

OU Ariakas said:

So we are a little over 2 weeks from this post and BTC is still around 27k. Do you personally think that it is going to hit 1 million in the next 45 days?

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No, neither does he which is why he payed out on the bet. I may be misunderstanding you, but if you were under the impression that my post was suggesting I believed that BTC was going to $1 mill by June I suspect you didn't watch the video.