Backyard kookaburra

This is pretty good View quoted note →

Ahh muffler burn. Haven't felt that in 30years. This ones on my finger.

Came across this metal cutout in someone's front lawn today. 😂 #dogstr

#AUSTrich View quoted note →

Bitcoin maximalist falsehood #3: “Bitcoin is trustless.” Bitcoin does not eliminate trust. It reduces and redistributes it. Users still depend on software, hardware, developers, miners and the social consensus that determines which rules constitute Bitcoin. That social consensus is Bitcoin’s greatest attack surface. Code cannot decide its own purpose or determine which future version deserves the name Bitcoin. People do. This is Bitcoin’s politics. Core developers, miners and influencers exert significant influence over what Bitcoin is and what it may become. Defending Bitcoin against capture requires a broad network of well informed users who can examine proposals, choose their own software and reject changes they do not support. “Don’t trust, verify” is empty if users do not understand what they are verifying or have no practical choice when they disagree.

Bitcoin maximalist falsehood #2: “Never sell your Bitcoin.” Bitcoin is money. Holding $100 worth of Bitcoin may support scarcity, but it does little to establish Bitcoin as a medium of exchange or unit of account. If that same $100 changes hands ten times within a circular economy, it settles $1,000 of trade. Each time, someone’s labour, time, goods or energy is valued in Bitcoin rather than fiat. There is a difference between abandoning Bitcoin for fiat and circulating Bitcoin as money. A real Bitcoin economy requires people to earn it, spend it, accept it and price goods in it. You cannot build a monetary system by treating the money as too sacred to use.

Bitcoin maximalist falsehood #1: “Bitcoin only.” A fixed supply does not guarantee economic freedom. Debt slavery and usury existed under some of history’s soundest monetary systems. Those without money must work on terms acceptable to those who already hold enough to pay them. Once ownership becomes sufficiently concentrated, holders can impose increasingly unjust and usurious terms while still claiming the money itself is “sound.” You are not free merely because the currency used to pay you cannot be inflated. Real freedom includes the right to allocate the fruits of your labour to another currency. The credible threat that people may direct their time, production and savings into money not already hoarded by existing holders limits that power. Bitcoin should earn users through free choice. Declaring every alternative heresy protects incumbents, not users.

Under rated View quoted note →