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Matt
codinginlondon@iris.to
npub16nd6...ftma
Former finance C++ C# dev writing about the merge of mining into the energy grid 🔋
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CodingInLondon 2 years ago
Lyn Alden: "fees aren't expensive because there are frogs on the timechain; fees are still cheap because relatively few people are using bitcoin to send and store money compared to the total addressable market that could be doing so."
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CodingInLondon 2 years ago
Another good synthetic quote that summarises the current situation: "If I were to describe in one paragraph why money has been broken around the world for so long while almost everything else has improved substantially (energy abundance, technology abundance, and so forth), it’s due to this gap between transaction and settlement speeds that the telecommunication era created. For a century and a half, the world has been stuck in a local maximum that has required and incentivized ever more complex forms of centralized abstraction to bridge that gap. The international gold standard worked for several decades during peacetime but was inherently flawed from the start due to how many claims it enabled to exist on such a small monetary base of actual gold, and it failed its first test as soon as war broke out between major powers in Europe. The Bretton Woods system was even more flawed due to even greater levels of abstraction and managed to fail in less than a decade and a half after full implementation. The modern system of 160 different ever-devaluing fiat currencies loosely tied to one world reserve fiat currency is highly flawed due to having no inherent grounding in scarcity." Lyn Alden, Broken Money
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CodingInLondon 2 years ago
Collecting some quotes from Broken Money (Lyn Alden), which I keep reading at night. "A user typically wants to hold money that appreciates in value, that is easy to hold and pay with, that is private, and that is difficult or impossible to freeze or confiscate. A modern currency issuer, in contrast, generally wants to issue money that smooths out near-term volatility, that pulls demand from the future into the present, that is easy to surveil, that can be frozen or confiscated by authorities easily, and that gives the issuer a lot of flexibility to spend money even at times when nobody wants to finance them"
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CodingInLondon 2 years ago
The first form of savings accessible to anyone on the planet without any barrier of entry. And much safer in terms of secured storage. From 1 EUR a month to any amount you can afford. No KYC needed. No pre-requisite. No need to show a salary payslip, utility bill or a passport.
X (formerly Twitter)
Dr. Ammous (@AmmousMD) on X
"Unlike the vast majority of humans in the past century, bitcoiners today are able to save for the future in a monetary medium protected from debas...
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CodingInLondon 2 years ago
A good synthesis of the current macro-economic situation by Mark Moss
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CodingInLondon 2 years ago
the idea that the fiat era is a short blip in human history (<100y) in-between two phases of sound money: - one based roughly on gold (about 5000y) - one based on bitcoin (5000 more years?) https://www.youtube.com/live/SFV0hP28SLs?si=vxNLyGj3GtXvPoBy&t=9544 Gives perspective: 1. expresses realisation that the monetary system in which we live is not normal, it’s just very weird and experimental 2. does not assume that humanity is about to self-destroy, which is for some reason what we all have in the back of our mind. it’s rare we project ourselves in the future in terms of thousands of years. refreshingly optimistic.
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CodingInLondon 2 years ago
in Africa there is an industry around the preparation of dried fruits which requires the production of hot air. Sebastien Gouspillou explains how BBGS works on a project in Congo looking at using the heat produced by ASICs to dry up fruits. This is cheaper than using diesel generators.
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