If you’re a bitcoiner, reply and I’ll follow you.

Nostr: “4 in 5 Americans can’t possibly want the U.S. to swap > 0% of their gold for bitcoin. You are full of shit!” Meanwhile, more Americans own bitcoin than gold.

4 in 5 Americans want some US gold reserves converted to bitcoin.

She’s wearing a very nice bitcoin orange here, I’ll give her that.

Been thinking about Dhruv Bansal’s idea that bitcoin are not produced or generated — wrong way of thinking about it induced by “mining” metaphor — but rather all bitcoin existed from the moment the network was launched, but are auctioned off to miners as a whole, in exchange for hashes (compute), on an auction schedule of 140 years or whatever it is. Each miner decides to take the network’s offer or not, by running their machines or not. Collectively, they determine how much that latest round of auctioned bitcoin is worth, in hashes and/or in energy. Then there’s another market on top of this one which is coincidental but distinct, and that’s the market for block space, where the sellers are individual miners and the buyers are would-be transactors and of course that’s sat/vbyte. I really do think it’s more accurate than thinking of bitcoin miners as “producing” bitcoin the way a manufacturer produces a product like cars or even discovered like gold miners discover gold. The bitcoin, all 21 million exist, just not on the ledger, from the get go. They only need to be auctioned, like treasuries. We don’t think the bidders on treasuries produce the 10-year! It’s just a weird auction mechanism where you have to prove work and your odds of winning the auction are proportional to your work / the total work by bidders. I do get it and I think it’s right and I think it helps with a lot of misconceptions once you grok it fully. And as Dhruv says it shows you the formula for how bitcoin disrupts everything which is by making markets where there weren’t any, and building layers of distinct markets, including lighting and eventually the internet. So, good job Dhruv. But… it is not so easy to communicate is it? This thing is bloody hard to explain, as someone said once.

I woke up this morning from a dream in which I noticed I had re-sprouted a full head of hair. In fact, my hairline was actually too low, like encroaching on the eyebrows. What does it mean.? Will zap all interpretations.

I just bought some bitcoin.

Happy day.

Our study can be downloaded at nakamotoproject.org.

Imagine. During the Trump speech in Nashville, the US government sells all remaining bitcoin. Max pain. “Liz Warren sends her regards.” Dark Brandon memes.

Let Germany sell. Let Gox-holders sell. Let the USG sell. Let El Salvador buy. Let plebs buy. Distribute, distribute, distribute.

Bitcoin is the people’s money. The network and its future belong to all of us. It’s not any better or worse than we humans. Bitcoin’s flows of value? Millions of decisions. Gifts and exchanges. Someone is parting with one thing for something else, more valuable to them. Someone on the other side of that exchange is doing the same and both consider themselves better off in the aftermath… otherwise it wouldn’t have happened. Bitcoin is just that, but scaled up to the globe. And Bitcoin’s market cap reflects another human choice: to hold a non-debaseable currency over a debaseable one. This thing is just preferences being manifested. The tech simply gave people another choice and another, more efficient and far-reaching way to do that.

Would you believe me if I said there’s no statistical relationship between political orientation and bitcoin ownership in the US? Dropping a report soon, to that effect.

Back from Oslo. Almost no sleep. Got up early and wrote a couple hundred words (low quality, but something), got the kids off to school, scythed the lawn, did a mace/ kettlebell workout outside in the back alley, played 10 minutes of Bach and now back to writing. NOSTR life off to a promising start.

Dumb question: why won’t custodial scaling solutions prompt a series of rugs, and induce popular support for regulations that mean only banks can be mints?

Inspired to move my thinking over to this platform. Will then take the edge off for the Twitter audience.