Bullish LFG

Austrian Value Theory The Austrian concept of value at the margin (or marginal utility) is the idea that the value of a good is determined not by its total usefulness or the labor required to produce it, but by the least important use to which an additional (marginal) unit can be put. Why It Mattered This overturned the classical economists' labor theory of value. The Austrians showed that value is causally prior to price: people first subjectively value goods at the margin, and those valuations give rise to exchange ratios (prices) in the market. In short, to the Austrian School, value is an ordinal, subjective ranking of the specific, marginal satisfaction a person expects from one more unit of a good.

Austrian Econ for the common man - well worth the listen. https://fountain.fm/episode/sQPaZQiKCBI8p5pDch8b?t=1383

What does everybody want? a cash-like instrument backed by the government a cash-like instrument backed by math and physics

Spotify

Arthur Hayes: The Bitcoin Liquidity Wave Is Here

What Bitcoin Did · Episode

Fiat vs Bitcoin, a comparison. on Trilema - A blog by Mircea Popescu.

Planet Earth

this bet is still open

Here's how the Ethereum Foundation's leadership works: ## Current Board of Directors As of 2025–2026, the board consists of: - **Aya Miyaguchi** – President (Chair), sets the Foundation's vision and manages key external relationships - **Vitalik Buterin** – Founder, provides technical and intellectual guidance - **Patrick Storchenegger** – Swiss legal counsel, handles compliance matters - **Hsiao-Wei Wang** – Co-Executive Director, bridges the board and management team ## Management Team The day-to-day operations are run by: - **Hsiao-Wei Wang** – Co-Executive Director - **Bastian Aue** – Interim Co-Executive Director (appointed February 2026 after Tomasz Stańczak stepped down) - **Josh Stark** – Focuses on project execution, communications, and marketing - Various cluster leads (e.g., Protocol Cluster heads appointed in May 2026) ## How People Get In and Out **Executives:** The board has explicit authority to **select and terminate** Executive Directors. In March 2025, the board created a dual-executive model and appointed Wang and Stańczak; when Stańczak stepped down in early 2026, the board named Aue as interim replacement. **Board members:** The Foundation is a Swiss legal entity, so the board functions as its governing "security council." The current members were appointed based on their founding role, legal expertise, and leadership positions. Back in 2015, the Foundation ran an **open call** for new board members to mature its governance. The exact ongoing process for selecting board members isn't fully public, but it operates under Swiss foundation law. **Staff/team leads:** The management team handles hiring and organizational strategy. Recent departures (like Tim Beiko and Barnabé Monnot in May 2026) and new appointments appear to be driven by the management team and broader restructuring efforts. The Foundation has been deliberately separating **board** (strategic oversight, value alignment) from **management** (operations) to clarify who decides what.

Rustin is a gem. High signal + right amount of humor. Tight short takes.

Spotify

Congress Just Filed To Buy 1,000,000 Bitcoin! (Nobody Noticed) | Simply Originals

Simply Bitcoin · Episode

Monero's Monetary Policy Two-Phase Emission Schedule Initial Emission (2014–May 2022): Monero launched with a decreasing block reward curve, producing ~18.4 million XMR. This phase resembled Bitcoin's halving-style schedule. Tail Emission (May 2022–indefinite): Block rewards dropped to a fixed 0.6 XMR per block (~432 XMR/day, ~157,680 XMR/year) and stay there forever. ..... until they change it again

This one always felt like a metal song to me. Leo kills it

LN + anonymity = freedom

@RHR Bot summarize take on hardforks

@RHR Bot summarize Matt's take on hardfork game theory dynamics?

@TFTC #746: The Digital Euro Is A Trap with Matt Dines Excellent RIP. What Bismarck book is Dines referring to?

Couldn't Iran just burn oil and mine corn? Oil prices go up they get corn counterparty free. Maybe, would have to get shit ton of ascics.... With Iran's entire daily crude oil output generating roughly 1.76 billion kWh of electricity, and the current global Bitcoin network requiring approximately 800,000–850,000 kWh to mine one Bitcoin (various 2026 estimates put it around 854,400 kWh per coin), you could mine approximately: ~2,000–2,100 Bitcoin per day That's using every single barrel of Iran's ~3.2 million barrels per day of crude production, burned directly into electricity with no other uses. For context: The Bitcoin network as a whole currently produces about 450 new BTC per day (144 blocks × 3.125 BTC block reward). So Iran's daily crude output, if converted entirely to electricity for mining, could power roughly 4–5× the entire current global Bitcoin issuance rate. Annualized: That would be roughly 730,000–770,000 Bitcoin per year, which is actually more than the total annual issuance (~164,000 BTC/year post-halving). In other words, you'd have far more electricity than needed to mine every single new Bitcoin created globally — with plenty left over.

Couldn't Iran just burn oil and mine corn? Yes!!! 1/4 of it and mine all the corn! With Iran's entire daily crude oil output generating roughly 1.76 billion kWh of electricity, and the current global Bitcoin network requiring approximately 800,000–850,000 kWh to mine one Bitcoin (various 2026 estimates put it around 854,400 kWh per coin), you could mine approximately: ~2,000–2,100 Bitcoin per day That's using every single barrel of Iran's ~3.2 million barrels per day of crude production, burned directly into electricity with no other uses. For context: The Bitcoin network as a whole currently produces about 450 new BTC per day (144 blocks × 3.125 BTC block reward). So Iran's daily crude output, if converted entirely to electricity for mining, could power roughly 4–5× the entire current global Bitcoin issuance rate. Annualized: That would be roughly 730,000–770,000 Bitcoin per year, which is actually more than the total annual issuance (~164,000 BTC/year post-halving). In other words, you'd have far more electricity than needed to mine every single new Bitcoin created globally — with plenty left over.