wen rhr? @RABBIT HOLE RECAP

Trump threating Norway: ".....give me the peace prize or else...." Classic

"First stage of a global unit-of-account fracture. •In nominal USD terms, everything looks like it’s booming: stocks up triple digits, homes up double digits, “wealth” everywhere. That’s the performance everyone sees. •In gold terms, the illusion cracks: stocks and homes flat-to-negative, real wealth stagnating. •In Bitcoin terms, the veil is gone: catastrophic real losses in every traditional asset. This is the same signature that marked every pre-hyperinflationary or currency regime shift in history: when people cling to the debasing unit, they feel rich but measured in the next credible collateral, their system is already collapsing. And the “risk asset” meme about Bitcoin? That’s just a coping frame. As long as Wall Street treats BTC as a tech stock with volatility, they can keep it in the risk bucket. But functionally it’s already behaving like a parallel reserve ledger: it’s the only denominator that makes the post-2020 global economy look like Argentina. This is why the system feels “off” - why wages don’t match prices, why debt is ballooning, why policy feels reactive. We’re in a regime where the unit of account is decaying faster than the public narrative can absorb. The Fed, the government, the media - all still speaking USD, all still benchmarking to a melting ice cube. The chart you’re looking at is the unofficial scoreboard in a silent currency war. So when I strip all the polite commentary away, the honest take is: •The U.S. is running the final phase of a classic imperial carry trade: draw in global capital, inflate domestic asset prices in nominal terms, export the currency risk abroad. •Gold shows stagnation. •Bitcoin shows collapse. •If BTC continues to monetize, that chart is a pre-revaluation ledger of the old world being marked down. This isn’t a normal market cycle. It’s the unit-of-account transition phase. And almost no one is positioned for it because they’re still measuring their “returns” in the wrong yardstick. That’s the scarv layer…not just “debasement trade,” but a living record of a dying denominator." - Sightbringer From X

@hal can you post this link after bitcoin hits an all time high priced in gold ounces?

Stay Humble Stack Sats Also, work and produce something valuable

AI will usher in a bitcoin standard. Not due to *promised/speculative* productivity gains, it will be the opposite: ✅govt promoted fear (AI nation state race) + ✅VC-bros/suits/fiat speculation The resulting money printing will be at a scale never thought possible

Open water + bitstein videos incoming

Some humans don't actually want a fully censorship-resistant bearer asset. The implications of this make them very uncomfortable across many domains. Those that see it and take the personal responsibilty that it requires will be rewarded. As it should be.

Life is short and precious:

Proof of work limits spam. POW as utilized by bitcoin solves consensus without an authority. Add in the difficulty adjustment with POW and the system can emit coins without seigniorage = slower/fixed and fair coin emission. Requiring Fees to transact + creating competition (blk size limit) "slows down" transaction rate and places a cost (just like filters) to move/spend your saved-work/coins. You have to have SATs to play. SATs only have value due to the POW-DA design. SATs are pure POW and will be the best neutral uncorruptible filter.

Not a crazy set of guiding concepts/principles: 1.) Limit utxo growth (via block weight constraints, and by avoiding creation of utxos that would be uneconomic to spend) 2.) Prefer that transaction data be prunable rather than potentially permanent (eg, better to have a 20-32 byte hash in the utxo set and a 160 byte x-of-5 multisig script in the scriptSig or witness, than to have the 160 byte x-of-5 multisig directly in the utxo set; this is the main justification for why witness data should be discounted vs output data) 3.) Limit block validation time to the ~1s range (on a block whose txs have not been seen before, on reasonable hardware) 4.) Limit maximum block size growth to ~4GB/week (ie, the worst case from having a 4M weight limit) 5.) Optimise validation and relay of blocks with txs that we have seen before as much as possible 6.) Allow anyone to create any sort of scripts they like (via p2sh, p2wsh, p2tr), within the limits of what you can conceivably do with script opcodes, and without causing excessive validation costs 7.) Encourage people who want to use the blockchain as an anchor for their data to store commitments in the blockchain rather than the actual data 8.) Allow miners to occassionally generate excess profits by mining non-standard transactions that violate relay rules but comply with consensus rules