I guess bitcoin is a scam…the kind of scam where almost everyone in the world agrees it’s worth a metric shit ton more than it is today and we merely sit and wait while the stupid or elderly sell their coins during price discovery.

Becoming a physician makes you late to everything in life. You go in and time stands still for a decade and you come out and it’s like, whoa, the world is different. I was very early to bitcoin. But since I was late to that paycheck thing, $20 was a big sacrifice for me…which was still a once in a lifetime win, but it’s an example of being early and being late simultaneously.

Stable coins on Bitcoin…good idea or bad idea? My gut says anything that creates incentives for miners outside of transaction fees from transactions equally available to all hash power is a net negative for bitcoin. Thought?

Having listened to a lot of core vs. Knots discussions, it reminds me of arguments between husbands and wives. The point of the argument isn’t to actually solve problems or understand stuff. It’s to bitch about feelings and anxieties and wants…but facts and reality.

Interesting irony on the Core vs. Knots debate: one side defines success of filtering as precisely that which the other side defines as failure. This is why they can’t agree: Knots folks see creating conditions that make slipstream profitable as a success while Core folks deem making spam transactions equally available to all miners a success. That’s a bit tongue-in-cheek but pretty accurate.

Any adventurous bitcoiner out there want to test a miniscript script? I don’t understand the _v part of the and statement… andor(multi(3,keyA,keyB,keyC),older(4032),andor(multi(2,keyAA,keyBB),older(32768),and_v(v:pk(keyAAA),after(1200000)))) (Formatted for humans): andor( multi(3, keyA, keyB, keyC), older(4032), andor( multi(2, keyAA, keyBB), older(32768), and_v( v:pk(keyAAA), after(1200000))) ) But as far as I can tell, this script does exactly what one thinks it should.

I think I’m OK with the US federal government earning bitcoin by stealing it from genuinely bad people as adjudicated by a US court system. I think that’s better than f’ing people over by printing dollars to buy shit, and it’s kind of like a proof of work all on its own.

If you want to break the law, get new ones written first. Bitcoiners are finally learning from the elites…de minimis bitcoin capital gains exemption will be just the first step.

I still kind of feel bad for the gold bugs. Yeah gold is up and it’s up a lot (for gold), but they dig up a lot of gold every year. The gold victory can’t last forever.

Anyone know much about miniscript? I like this miniscript I wrote. Has an anti kidnapping 4032 (~4 week) zenHodl period where funds simply can not be spent and then becomes a 3 of 3 and later a 2 of 2 multisig and years later a single sig… I don’t think there will be a better security model than this, but I don’t trust the miniscript precisely because I wrote it and have tested it…seems to work as expected. But not sure how to reason about possible shortcomings of this script: andor(multi(3,keyA,keyB,keyC),older(4032),andor(multi(2,keyAA,keyBB),older(32768),and_v(v:pk(keyAAA),after(1200000)))) Easier on the eyes below: andor( multi(3, keyA, keyB, keyC), older(4032), andor( multi(2, keyAA, keyBB), older(32768), and_v( v:pk(keyAAA), after(1200000))) )

If I expect bitcoin to be worth $1M in 10 years, and I assume today’s price is $125,000 and that I can get a 10 year bond at 5%, then bitcoin should be worth: (8/1.05^10)x$125,000=4.911 x 125k = $614,000 So today I would pay no more than $614,000 per bitcoin. That’s $489,000 gains that could be had today if the world agrees bitcoin will be worth $1,000,000 in 10 years. Let’s assign the probability of this at 50-50….then it would be reasonable to sell bitcoin at $125,000+$489,000/2 =$369,500.00 $370,000 is a reasonable price target that splits the estimated 10 year gains equally between buyer and seller. We are still early.

You can still shun nonstandard bitcoin transactions while noting and forwarding metadata about the transaction. This will let mempools work better.

The current op return issue boils down to this: how to maintain efficacy of transaction shunning while preventing economic incentivization of out of band payment for transactions like slipstream? Some believe it can never be done, so open up the filters. Others believe it can be done or does not need to be done right now.

Anybody really knowledgeable about miniscript? I think this wallet script does most everything anyone could want, modulo minor tweaks. The fact it took me like 15 minutes to write makes me feel like I’m making some major mistake: andor(multi(3,keyA,keyB,keyC),older(4032),andor(multi(2,keyAA,keyBB),older(32768),and_v(v:pk(keyAAA),after(1200000)))) This fields a wallet that has 1) a 4 week zenHODL anti-kidnapping period where funds can not be spent, 2) a 3 of 3 multisig for blocks 4032-32768 (like 6 months or so), a 2 of 2 multisig after that until 3) block 1,200,000 where it degrades to a single sig wallet. What am I missing?