Gunnar Stødle's avatar
Gunnar Stødle
gusto@primal.net
npub1rx9w...htd4
Mountain Man, Maker myrabbitholestory.com
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gusto 2 years ago
Haha nostr zapatons are meme galore
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gusto 2 years ago
There is to much debt an not enough dollars. Hyperinflation feeds on this realization.
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gusto 2 years ago
There are 22 trillion USD in deposits in US banks (M2) There are 3 trillion USD in reserves and 2 trillion USD in cash. (Monetary base) That's the 7x leverage at foundation of the fiat system. Add all the debt and derivatives on top of this an you have a pluss 100x leveraged ponzi ready to blow up! Nb! There are infinite USD in the Federal Reserve to backstop this fraud. And you ask me why bitcoin?
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gusto 2 years ago
Bitcoin: A Peer-to-Peer Electronic Cash System Satoshi Nakamoto 1. Introduction Commerce on the Internet has come to rely almost exclusively on financial institutions serving as trusted third parties to process electronic payments. While the system works well enough for most transactions, it still suffers from the inherent weaknesses of the trust based model. Completely non-reversible transactions are not really possible, since financial institutions cannot avoid mediating disputes. The cost of mediation increases transaction costs, limiting the minimum practical transaction size and cutting off the possibility for small casual transactions, and there is a broader cost in the loss of ability to make non-reversible payments for non-reversible services. With the possibility of reversal, the need for trust spreads. Merchants must be wary of their customers, hassling them for more information than they would otherwise need. A certain percentage of fraud is accepted as unavoidable. These costs and payment uncertainties can be avoided in person by using physical currency, but no mechanism exists to make payments over a communications channel without a trusted party. What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party. Transactions that are computationally impractical to reverse would protect sellers from fraud, and routine escrow mechanisms could easily be implemented to protect buyers. In this paper, we propose a solution to the double-spending problem using a peer-to-peer distributed timestamp server to generate computational proof of the chronological order of transactions. The system is secure as long as honest nodes collectively control more CPU power than any cooperating group of attacker nodes.
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gusto 2 years ago
Moral hazard is baked into the fiat banking system. The only way out is sound money. #bitcoin
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gusto 2 years ago
Beware the fiat fuckers attempt to capture and control the bitcoin market. Fiat price control modus operandi: The bankers are limiting access to bitcoin spot markets by ways of capital control, and dragging their feet on a spot ETF etc. Simultaneously rolling out paper bitcoin products via the big banks to millions of customers shuffling demand away from the spot markets.
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gusto 2 years ago
Rate hikes, bailouts, bailins, capital control, and full on narrative control meltdown. Everything is fine, fiat fixes this lol
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gusto 2 years ago
Nostr and bitcoin freedom tech features for the win: Pseudonymous identity, cross app compatibility, decentralization, censorship resistance, proof of work, final settlement, sound money, premissionless use and innovation ++++ Please add winning features in the comments :)
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gusto 2 years ago
Nostr client and app interoperabillity is a feature of nostr that is gone drive a lot of growth imo. The fact that you own your identity and move from client to client, to app etc is a gamechanger.
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gusto 2 years ago
Great to see self custodial address servers adding zap support. Also great to se private zaps in snort and damus. Thanks devs! Zaps are are just a month or two old and still pretty rough, and not private by default but the urge to make it work for everyone is strong.