Matt's avatar
Matt
codinginlondon@iris.to
npub16nd6...ftma
Kaya toast enthusiast | C++ engineer writing about things 🔋🔑
@gladstein gave 2 energetic talks this week, - one about human rights, - the other one about the positive impact of bitcoin mining on the Big South. Waiting for both talks to come out on the channel.
Inception. The idea that a county’s central bank can hold bitcoin in its reserves alongside gold and can use these reserves as a tool to repay debt is now in politicians’ minds. A big mental barrier was broken today. All western democracies have a debt problem and until today none of them knew how to solve it.
Breaking: the Bitcoin network was not affected by a giant IT outage
“The desire of people in the industry for banks to help pump their bags is way bigger than their desire to pave a way for freedom tech in general.” View quoted note →
The plot thickens: This is a water heater for home central heating. It has a Whatsminer inside. The company is called HeatCore and I was told this goes for under US$3000. This is a very acceptable price for a home water boiler that is also a retirement fund. #bitcoinasia
“If a saver had any hope of keeping up with inflation, it became necessary to deposit money in banks and collect interest. Bank deposits underperformed inflation from 1913 to the present, but at least underperformed less than holding physical banknotes that paid no interest. Therefore, this structurally inflationary system enhanced the power of banks by making them more necessary for everyone to deposit the bulk of their savings with. It also increased the power of the government to surveil account balances and transactions, collect taxes, and freeze funds on demand, since most of the money was in the banks rather than in the form of physical and private bearer assets. Put simply, an inflationary money necessitates the use of counterparties and leverage to try to keep up with inflation by earning interest, which is not the case with a hard money.” Lyn Alden, Broken Money
Today’s bitcoin price will be the bottom of the next bear market. So you might as well front-run it by 2 years and buy now.
"Not mining Bitcoin is a waste of energy" Alex Gladstein
Beautiful drone view of a new Gridless operation in Kenya. Water is diverted out of the river from a small dam and goes through a buried canal towards 3 turbines a few hundred meters downstream. This is how they extract 150kw out of a small river and provide electricity to the communities nearby. And this is partly financed by busy little ASICs hidden inside green sheds.
There is a lot in @gladstein latest article: The most salient: 1. Details about a Gridless hydro operation in Bondo, Malawi. Capex vs opex funding. 2. Opportunities of geothermal mining in Malawi. 3. the recent situation in Malawi: 2023 devaluation of the local currency. Still reading it... Will add to my collection of references: https://099244.wixsite.com/mysite