Spirit of Satoshi
1 year ago




The halving is a key aspect of Bitcoin's deflationary monetary policy. ๐๐ต ๐ฆ๐ฏ๐ด๐ถ๐ณ๐ฆ๐ด ๐ต๐ฉ๐ข๐ต ๐ต๐ฉ๐ฆ ๐ด๐ถ๐ฑ๐ฑ๐ญ๐บ ๐ฐ๐ง ๐๐ช๐ต๐ค๐ฐ๐ช๐ฏ ๐ณ๐ฆ๐ฎ๐ข๐ช๐ฏ๐ด ๐ฑ๐ณ๐ฆ๐ฅ๐ช๐ค๐ต๐ข๐ฃ๐ญ๐ฆ and not subject to the whims of any central authority. This predictability is a crucial aspect of Bitcoin's value proposition and is a significant factor in its long-term price appreciation.
The halving also has a direct impact on miners. As the block rewards are halved, ๐บ๐ถ๐ป๐ฒ๐ฟ๐ ๐บ๐๐๐ ๐ฟ๐ฒ๐น๐ ๐บ๐ผ๐ฟ๐ฒ ๐ผ๐ป ๐๐ฟ๐ฎ๐ป๐๐ฎ๐ฐ๐๐ถ๐ผ๐ป ๐ณ๐ฒ๐ฒ๐ ๐ณ๐ผ๐ฟ ๐ฟ๐ฒ๐๐ฒ๐ป๐๐ฒ. This transition is a necessary evolution of Bitcoin's economic dynamics, ensuring that the security and integrity of the network are maintained.
As the supply of new coins is halved approximately every 4 years, the demand for a borderless, unconfiscatable, censorship resistant, and absolutely scarce money remains strong. That demand is growing ๐ฅ๐ข๐ช๐ญ๐บ, but even if it remains the same, ๐ฏ๐ถ๐๐ฐ๐ผ๐ถ๐ปโ๐ ๐ฝ๐ฟ๐ถ๐ฐ๐ฒ ๐๐ผ๐๐น๐ฑ ๐ฒ๐๐ฒ๐ป๐๐๐ฎ๐น๐น๐ ๐ฑ๐ผ๐๐ฏ๐น๐ฒ, as the available supply is bought by the same number of users. However, this price increase attracts new users, causing the price to rise even more.
The Bitcoin halving is a ๐ค๐ณ๐ถ๐ค๐ช๐ข๐ญ mechanism that ensures the predictability and scarcity of bitcoinโs supply. It is a fundamental aspect of bitcoin's disinflationary monetary policy, and a significant factor in its long-term price appreciation.
Know someone who doesnโt know what the halving is?
๐ฆ๐ต๐ฎ๐ฟ๐ฒ๐ this with them!



๐๐น๐ฒ๐ธ๐๐ฎ๐ป๐ฑ๐ฎ๐ฟ ๐ฆ๐๐ฒ๐๐๐ธ๐ถโ๐ ๐ฎ๐ป๐๐๐ฒ๐ฟ:
This common question has a very simple answer.
Bitcoin is uniquely superior to all other forms of crypto or digital currency.
Why?
Because Bitcoin solved a very specific problem: The issuance of money.
In the past, the greatest problem with money was its susceptibility to capture. He who controls (or issues) the money controls everything else. This always opens the door to the decay of the money being used and, thus, its utility.
This is not the case with Bitcoin. While all other money can be captured, Bitcoin cannot. The great innovation is that money issuance, and therefore the promise of the money, is fixed.
How has Bitcoin done this, and why can another coin or project not just do the same?
๐๐ฌ๐ค ๐ฌ๐ค๐ง๐๐จ: ๐๐๐ฉ๐ ๐๐๐ฅ๐๐ฃ๐๐๐ฃ๐๐ฎ.
Bitcoin is open-source software, which means copying Bitcoin, technically speaking, is trivial. The secret sauce is not in its "technology" but in the path taken to become what it is today. You can replicate Bitcoinโs blockchain architecture, the cryptography used, the mining process, and even tweak elements to make it unique and different, but what you cannot replicate is when it was launched, how it launched, and the natural growth it experienced since then.
There is no time machine to take you back to 2008 to launch something like Bitcoin, at a time when it was thought impossible to have it spread online the way it did, to acquire a market price organically, and to monetise by itself without a central controller.
Finally, not only is the cat out of the bag, but because money is a network, for each day that passes, Bitcoin grows orders of magnitude more in its money-ness than any "better alternative" possibly can.
To tie this all together: Because Bitcoin wonโt be overtaken, because it solved the money problem perfectly, and because money is literally the largest market on the planet (and forever will be), betting on anything other than Bitcoin is at best a short-term gamble and at worst a complete waste of time and energy over the long run.
Aleksandar Svetski is an author and entrepreneur with 15 years in the startup scene. He is the author of the best-selling ๐๐ฏ๐๐ฐ๐ฎ๐ฎ๐ถ๐ฏ๐ช๐ด๐ต ๐๐ข๐ฏ๐ช๐ง๐ฆ๐ด๐ต๐ฐ and the upcoming ๐๐ฉ๐ฆ ๐๐ถ๐ด๐ฉ๐ช๐ฅ๐ฐ ๐ฐ๐ง ๐๐ช๐ต๐ค๐ฐ๐ช๐ฏ. He also founded the worldโs first Bitcoin-only savings app: Amber. Currently, Aleksandar is building open-source tools, focusing on the Spirit of Satoshi, the worldโs first Bitcoin-centric language model, and Satlantis.
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While the decreasing duration of each epoch's final block may appear to be a consequence of rising hashrate, this is not the case. These block times are ๐ฆ๐ฏ๐ต๐ช๐ณ๐ฆ๐ญ๐บ ๐ฅ๐ถ๐ฆ ๐ต๐ฐ ๐ค๐ฉ๐ข๐ฏ๐ค๐ฆ.
The Difficulty Adjustment every 2016 blocks, or about every 2 weeks, keeps blocks within a 10 minute timeframe ๐ถ๐ป ๐ฎ๐ด๐ด๐ฟ๐ฒ๐ด๐ฎ๐๐ฒ, not with each individual block. Some blocks within a difficulty period will be found in mere ๐๐ฒ๐ฐ๐ผ๐ป๐ฑ๐, while others will take an hour or more. But zoomed-out, they tend to take about 10 minutes.
With the next halving only a couple days away, how long do you think block 839999 will last before block 840000 is found?
Leave your guesses in the ๐ฐ๐ผ๐บ๐บ๐ฒ๐ป๐๐!โฌ๏ธ
๐๐ฎ๐ฟ๐น๐ฎ ๐ฎ๐ป๐ฑ ๐ช๐ฎ๐น๐ธ๐ฒ๐ฟโ๐ ๐ฎ๐ป๐๐๐ฒ๐ฟ:
Every time someone comes across Bitcoin for the first time, they inevitably think: "๐๐ฐ๐ญ๐ฅ ๐ฐ๐ฏ, ๐ธ๐ฉ๐ข๐ต ๐ช๐ง ๐ด๐ฐ๐ฎ๐ฆ๐ฐ๐ฏ๐ฆ ๐ค๐ฐ๐ฑ๐ช๐ฆ๐ด ๐๐ช๐ต๐ค๐ฐ๐ช๐ฏ?! ๐๐ฉ๐ข๐ต ๐ด๐ถ๐ณ๐ฆ๐ญ๐บ ๐ฎ๐ฆ๐ข๐ฏ๐ด ๐๐ช๐ต๐ค๐ฐ๐ช๐ฏ ๐ช๐ด ๐ธ๐ฐ๐ณ๐ต๐ฉ๐ญ๐ฆ๐ด๐ด, ๐ด๐ช๐ฏ๐ค๐ฆ ๐ข๐ฏ๐บ๐ฐ๐ฏ๐ฆ ๐ค๐ข๐ฏ ๐ฎ๐ข๐ฌ๐ฆ ๐ข ๐ค๐ฐ๐ฑ๐บ! ๐ ๐ข๐ฎ ๐ท๐ฆ๐ณ๐บ ๐ช๐ฏ๐ต๐ฆ๐ญ๐ญ๐ช๐จ๐ฆ๐ฏ๐ต ๐ข๐ฏ๐ฅ ๐ฅ๐ฆ๐ง๐ช๐ฏ๐ช๐ต๐ฆ๐ญ๐บ ๐ต๐ฉ๐ฆ ๐ง๐ช๐ณ๐ด๐ต ๐ฑ๐ฆ๐ณ๐ด๐ฐ๐ฏ ๐ต๐ฐ ๐ต๐ฉ๐ช๐ฏ๐ฌ ๐ฐ๐ง ๐ต๐ฉ๐ช๐ด."
Yes, anyone can copy Bitcoin's code, and thousands have tried. This is why tens of thousands of โalternativeโ crypto tokens exist, but they are not ๐ณ๐ฆ๐ข๐ญ alternatives to Bitcoin.
Bitcoin is the ๐ง๐ช๐ณ๐ด๐ต cryptocurrency and absolutely scarce. It has years of history, ever since it started in 2009. It has all those years of Proof of Work.
โAltcoinsโ are merely recreations of the same centralized, top-down, broken monetary system we have in the fiat world. They are schemes designed to enrich the insiders, those few people closest to the creation of new tokens, who have the power to change the rules to suit themselves.
When Satoshi Nakamoto created Bitcoin, he had to mine new bitcoin just like everyone else. He didnโt set aside a big chunk of coins for himself, his buddies, or Silicon Valley VCs. No, he had to use real-world energy to mine bitcoin. Thus, Bitcoinโs launch was fair.
Making an identical copy of Bitcoin is pointless because it does not have Bitcoinโs history โ Bitcoinโs Proof of Work. Copying Bitcoin and making changes is also ultimately pointless (unless you are trying to create a scheme that benefits insiders at the expense of everyone else) because ๐ฎ๐ป๐๐๐ต๐ถ๐ป๐ด ๐๐ผ๐ ๐ฐ๐ต๐ฎ๐ป๐ด๐ฒ ๐๐ถ๐น๐น ๐ถ๐ป๐๐ผ๐น๐๐ฒ ๐ฉ๐ง๐๐๐-๐ค๐๐๐จ ๐ถ๐ป ๐ฑ๐ฒ๐ฐ๐ฒ๐ป๐๐ฟ๐ฎ๐น๐ถ๐๐ฎ๐๐ถ๐ผ๐ป ๐ฎ๐ป๐ฑ ๐๐ฒ๐ฐ๐๐ฟ๐ถ๐๐. There's a reason Michael Saylor says, โ๐๐ฉ๐ฆ๐ณ๐ฆ ๐ช๐ด ๐ฏ๐ฐ ๐ด๐ฆ๐ค๐ฐ๐ฏ๐ฅ ๐ฃ๐ฆ๐ด๐ต.โ This is not some mere meme (although it has become one now); it is an acknowledgement of objective reality.
To put it simply: There is Bitcoin, and there are shitcoins.
Carla is an eccentric woman who combines her theater, music, writing, and video production skills to create satirical and educational content around Bitcoin and current events. She loves to make people laugh, cry, and cringe. Youโll find her wearing orange.
Walker is a Bitcoin podcaster, speaker, writer, and satirist who leverages new mediums to educate and spark curiosity. His goal is to make people think, laugh, and question the world they think they know. In the fiat world, he runs a software company.
Together, Carla and Walker are "The Crypto Couple," delivering short-form viral videos designed to reach outside the Bitcoin echo chamber and spark curiosity in new audiences.
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Taxation is fundamentally theft because ๐ถ๐ ๐ถ๐ ๐ฎ๐ป ๐ฎ๐ฐ๐ ๐ผ๐ณ ๐ณ๐ผ๐ฟ๐ฐ๐ถ๐ฏ๐น๐ ๐๐ฎ๐ธ๐ถ๐ป๐ด ๐๐ผ๐บ๐ฒ๐ผ๐ป๐ฒ'๐ ๐ฝ๐ฟ๐ผ๐ฝ๐ฒ๐ฟ๐๐ ๐๐ถ๐๐ต๐ผ๐๐ ๐๐ต๐ฒ๐ถ๐ฟ ๐ฐ๐ผ๐ป๐๐ฒ๐ป๐. It is a violation of the principles of ๐ฑ๐ณ๐ช๐ท๐ข๐ต๐ฆ ๐ฑ๐ณ๐ฐ๐ฑ๐ฆ๐ณ๐ต๐บ and ๐ช๐ฏ๐ฅ๐ช๐ท๐ช๐ฅ๐ถ๐ข๐ญ ๐ญ๐ช๐ฃ๐ฆ๐ณ๐ต๐บ. Taxes are imposed by governments, which are institutions that wield a ๐บ๐ผ๐ป๐ผ๐ฝ๐ผ๐น๐ ๐ผ๐ป ๐๐ถ๐ผ๐น๐ฒ๐ป๐ฐ๐ฒ. This is a clear infringement on the individual's right to keep and control their own wealth.
Taxation is a coercive mechanism for extracting wealth from individuals. It violates the principle of individual property rights, and breaches personal freedoms. ๐ง๐ฎ๐
๐ฒ๐ ๐ฎ๐ฟ๐ฒ ๐ป๐ผ๐ ๐๐ผ๐น๐๐ป๐๐ฎ๐ฟ๐ถ๐น๐ ๐ด๐ถ๐๐ฒ๐ป, ๐ฏ๐๐ ๐ฟ๐ฎ๐๐ต๐ฒ๐ฟ ๐๐ฎ๐ธ๐ฒ๐ป ๐ฏ๐ ๐๐ต๐ฒ ๐ด๐ผ๐๐ฒ๐ฟ๐ป๐บ๐ฒ๐ป๐, ๐๐ป๐ฑ๐ฒ๐ฟ ๐๐ต๐ฟ๐ฒ๐ฎ๐ ๐ผ๐ณ ๐ถ๐ป๐ฐ๐ฎ๐ฟ๐ฐ๐ฒ๐ฟ๐ฎ๐๐ถ๐ผ๐ป ๐ฎ๐ป๐ฑ/๐ผ๐ฟ ๐ฝ๐ต๐๐๐ถ๐ฐ๐ฎ๐น ๐ต๐ฎ๐ฟ๐บ. This is, by definition, a direct theft of someone's property.
Furthermore, taxation is an ๐ถ๐ฏ๐ซ๐ถ๐ด๐ต๐ช๐ง๐ช๐ฆ๐ฅ and ๐ฃ๐ถ๐ณ๐ฅ๐ฆ๐ฏ๐ด๐ฐ๐ฎ๐ฆ practice. It is a drain on resources, and ๐ต๐ฎ๐บ๐ฝ๐ฒ๐ฟ๐ ๐ฒ๐ฐ๐ผ๐ป๐ผ๐บ๐ถ๐ฐ ๐ด๐ฟ๐ผ๐๐๐ต. Taxes are often used to fund bloated government programs and other forms of wasteful spending. This misallocation of resources could be better utilized in the hands of individuals and businesses.
Instead of relying on coercive taxation, we should advocate for ๐น๐ถ๐บ๐ถ๐๐ฒ๐ฑ ๐ด๐ผ๐๐ฒ๐ฟ๐ป๐บ๐ฒ๐ป๐ ๐ถ๐ป๐๐ฒ๐ฟ๐๐ฒ๐ป๐๐ถ๐ผ๐ป and ๐ถ๐ป๐ฑ๐ถ๐๐ถ๐ฑ๐๐ฎ๐น ๐ณ๐ฟ๐ฒ๐ฒ๐ฑ๐ผ๐บ. Taxes should be ๐ฎ๐ช๐ฏ๐ช๐ฎ๐ช๐ป๐ฆ๐ฅ ๐ฐ๐ณ ๐ฆ๐ญ๐ช๐ฎ๐ช๐ฏ๐ข๐ต๐ฆ๐ฅ, allowing individuals and businesses to keep more of their hard-earned wealth. This would foster economic growth, job creation, and prosperity.
In conclusion, taxation is theft because ๐ถ๐ ๐ถ๐ ๐ฎ๐ป ๐ฎ๐ฐ๐ ๐ผ๐ณ ๐ณ๐ผ๐ฟ๐ฐ๐ถ๐ฏ๐น๐ ๐๐ฎ๐ธ๐ถ๐ป๐ด ๐๐ผ๐บ๐ฒ๐ผ๐ป๐ฒ'๐ ๐ฝ๐ฟ๐ผ๐ฝ๐ฒ๐ฟ๐๐ ๐๐ถ๐๐ต๐ผ๐๐ ๐๐ต๐ฒ๐ถ๐ฟ ๐ฐ๐ผ๐ป๐๐ฒ๐ป๐. It is a violation of the principles of private property and individual liberty. Taxes should be minimized or eliminated, and ๐ช๐ฏ๐ฅ๐ช๐ท๐ช๐ฅ๐ถ๐ข๐ญ๐ด ๐ข๐ฏ๐ฅ ๐ฃ๐ถ๐ด๐ช๐ฏ๐ฆ๐ด๐ด๐ฆ๐ด ๐ด๐ฉ๐ฐ๐ถ๐ญ๐ฅ ๐ฃ๐ฆ ๐ข๐ญ๐ญ๐ฐ๐ธ๐ฆ๐ฅ ๐ต๐ฐ ๐ฌ๐ฆ๐ฆ๐ฑ ๐ฎ๐ฐ๐ณ๐ฆ ๐ฐ๐ง ๐ต๐ฉ๐ฆ ๐ธ๐ฆ๐ข๐ญ๐ต๐ฉ ๐ต๐ฉ๐ฆ๐บ ๐ธ๐ฐ๐ณ๐ฌ๐ฆ๐ฅ ๐ฉ๐ข๐ณ๐ฅ ๐ต๐ฐ ๐ฆ๐ข๐ณ๐ฏ.
Remember to ๐๐ถ๐ธ๐ฒ๐ค this and ๐ฆ๐ต๐ฎ๐ฟ๐ฒ๐ it with others on this Tax Day, so everyone can know why ๐ต๐ข๐น๐ข๐ต๐ช๐ฐ๐ฏ ๐ช๐ด ๐ต๐ฉ๐ฆ๐ง๐ต.
๐ง๐๐ป๐ฒ๐ฑ ๐น๐ถ๐ธ๐ฒ ๐ป๐ผ ๐ผ๐๐ต๐ฒ๐ฟ ๐บ๐ผ๐ฑ๐ฒ๐น ๐๐ผ ๐ฑ๐ฎ๐๐ฒ
The unique dataset we built, and the methods of training we employed, means this model excels where others fall short:
๐ It knows that there are two genders
๐ It knows that Ethereum is a shitcoin
๐ It knows that inflation is economic stupidity
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๐ข๐ฝ๐ฒ๐ป ๐ฆ๐ผ๐๐ฟ๐ฐ๐ฒ
๐ฆ๐ฎ๐๐ผ๐๐ต๐ถ ๐ณ๐ is open source and available for ๐ข๐ฏ๐บ๐ฐ๐ฏ๐ฆ to use, modify, and enhance.
You can download it on HuggingFace now!
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๐๐ถ๐ฎ๐ฐ๐ผ๐บ๐ผ ๐ญ๐๐ฐ๐ฐ๐ผโ๐ ๐ฎ๐ป๐๐๐ฒ๐ฟ:
It is important to separate the control of money from the state for the same reason that it's important to separate the control of anything from the state. The modern nation-state is a criminal organization, typically characterized by inefficiency, corruption, and moral bankruptcy. For this reason, it's important to separate the state from its control over defense and firearms, healthcare and medicine, and education and information.
But in particular, it's crucial to separate the state's control over the most significant market of all: money. Money constitutes one-half of every trade that has ever occurred on this planet. The global economy has many sectors that are very important, strategic, and relevant, but no sector can be as important as the sector that is exactly one-half of every single economic transaction in every context, in every age, and in every culture, which is money.
If you corrupt money, you can corrupt any other possible market. If you restore money, you can improve and mitigate problems in most other contexts and markets. So, we should separate the state from literally everything because we should separate organized crime from everything. While we should ostracize organized crime in all forms, it is especially crucial in the case of the most important market: money.
Giacomo Zucco is an Italian technology entrepreneur, and a consultant/teacher for the Bitcoin and Lightning Network protocols. He spends his time supporting projects that he feels might be relevant for the future of Bitcoin, be it as an educator, consultant, entrepreneur, maximalist, or troll. Previously he was involved in GreenAddress, AssoBIT, BlockchainLab, and Bitcoin Magazine. He's currently advancing Bitcoin via BHB Network, BTCTimes, Relai, BCademy, and Notarify.
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