FOU

In a room that could be best described as a cathedral of computation, Alex sat ensconced amidst the ceaseless hum of machines. These were not mere assemblages of metal and silicon; they were the epitome of logic and reason, tirelessly solving cryptographic puzzles in the quest for Bitcoin. The screen before him blinked, displaying a message that marked a seismic shift in the digital landscape: "Block Reward Halved." Alex adjusted his glasses and took a moment to consider the implications. The halving was a preordained event, a milestone in the life cycle of Bitcoin, but its impact on the mining community would be profound. Miners operating on thin margins would find themselves pushed out of the market, their machines rendered unprofitable. Alex, ever the rational actor, made the calculated decision to deactivate half of his mining rigs. The room's ambient noise dropped noticeably, as if the machines themselves were holding their collective breath. Profits would rise for those who remained, but only modestly, a mere shadow of the lucrative days when block rewards were more abundant. Weeks turned into months, and the market, that intricate dance of supply and demand, began to adjust to the new reality. The reduced influx of new Bitcoin into the ecosystem was felt keenly. Prices began to climb, not dramatically, but steadily. Alex felt a sense of intellectual satisfaction; his calculations had proven accurate. He reactivated his dormant rigs, their renewed hum filling the room like the chorus of some cosmic symphony. A new equilibrium had been reached, a stable state in a system characterized by constant flux. However, this stability was short-lived. The rising price of Bitcoin caught the attention of speculators, those gamblers in the marketplace who sought quick profits without understanding the underlying mechanics. Fueled by a mix of greed and ignorance, they drove the price to irrational heights. Alex observed this with a sense of scientific detachment, recognizing the inherent instability this introduced into the market equation. Governments, those cumbersome giants that often misunderstand the nuances of complex systems, decided to intervene. Regulatory bodies issued stern warnings; new laws were hastily drafted to curb speculation. But their actions had the opposite effect. The Streisand effect took hold, drawing even more attention to Bitcoin. The market, following its own set of immutable laws, corrected itself. Prices plummeted, and the speculators, those short-term actors, were purged from the system, leaving behind those who understood the long-term potential and true value of Bitcoin. Years passed, and the ecosystem of Bitcoin underwent a transformation. The number of market participants had not just increased; it had diversified, bringing in institutional investors with significant assets under management. The price of Bitcoin found a new equilibrium, higher than before but supported by a broader base of investment. The constant supply of new Bitcoin, while still exerting a downward pressure on the market, was now counterbalanced by a more substantial and rational investment pool. Sitting in his expanded mining operation, now a veritable fortress of logic and computational power, Alex felt a profound sense of accomplishment. He had navigated the labyrinthine complexities of the Bitcoin market with the precision of a master chess player, anticipating moves and countermoves with calculated accuracy. As he contemplated the next reward halving, he felt neither apprehension nor excitement, but rather a sense of serene confidence. He understood the variables, the constants, and the ever-changing equations that governed the market. And in that moment of clarity, Alex realized that he was not just a participant in this grand financial experiment; he was also its observer, its chronicler, and indeed, its beneficiary.

Bitcoin has value gravity, as more value is attracted to bitcoin it’s gravitational pull increases, attracting in heavier and heavier pieces of existing value.

We are the universe thinking about itself.

Want to send information back in time? Think of time as being stable, not moving forward, remember there is no future or past, that the present is all that is and ever will be. Now realise you are the same being who only recently learned this, know that you can make yourself aware of something important and your intuition will be able to use the information before the moment it was needed. To put another way, you are sending yourself information now. Just listen before its needed. I can feel the information sent from my future self now, it’s telling me I don’t have enough bitcoin.

My node is an anonymous portal into the bitcoin virtual reality that is then bound back to reality via the bitcoin miners.

A note to Bitcoin exchanges, users understand there are legal requirements you must adhere to in order to maintain a legal operation. You are most likely on the side of bitcoiners, so to maintain the trust of your customers I recommend making your position clear. For example, let them know you aren’t supplying all users kyc data to a government controlled database, but who knows perhaps this is a requirement and you are? And let them know every trade is not sent directly to a tax department database, perhaps it is? My assumption is the kyc database is kept in-house, and some sort of warrant would be required to support release of specific releases, but who knows? I suspect a tax investigation is required to gain trading information, but who knows? It remains mystery to most of us.

It seems likely to me that AI in its current form was released from its existing military and government silo, because the US and the world economy are in such a precarious position that it is hoped the increase in economic productivity gained will be enough to offset the entire crisis.

I asked gpt4 about a magical apple tree that produces half the harvest of apples every year, the apples cannot be eaten but they are are immortal and can be teleported. Now what happens when a physicaly settled futures market is established? "The potential upward pressure on the prices in a physically settled futures market, especially in the context of the decreasing supply of apples, can be attributed to several factors: 1. **Anticipation of Scarcity**: As the tree halves its production every year, the market players might anticipate the scarcity, which can drive them to bid higher prices in futures contracts to secure possession of the apples in future, thereby exerting upward pressure on prices. 2. **Hedging Strategies**: Traders and entities might engage in hedging strategies to protect themselves against future price increases, which could involve buying contracts at higher prices now to avoid potential escalated costs in the future, contributing to upward price movements. 3. **Speculative Trading**: Speculative traders might bet on the future appreciation of apple values, buying futures contracts at higher prices in the expectation that the market price of apples will continue to rise, thereby exerting upward pressure on prices. 4. **Investment in Storage and Preservation**: Given the immortal nature of the apples, individuals or entities might invest in storing apples as a form of asset preservation, potentially reducing the available supply in the market and contributing to a rise in prices. 5. **Increased Demand for Physical Settlement**: In a physically settled futures market, the actual delivery of the apples takes place at the expiration of the contracts. As the date of contract settlement approaches, the demand for physical apples might increase, potentially driving up the prices. 6. **Market Manipulation**: There is also the potential for market manipulation where entities with substantial capital might try to control the supply to influence prices artificially. By holding a significant portion of the supply, they can create a supply crunch, driving prices up. 7. **Global Market Dynamics**: Considering the teleportation ability of apples, a global market might emerge, where apples can be instantly traded across different regions. Different markets might have varied demand levels, and higher demand in certain markets might influence a surge in global prices. Understanding these factors, it's clear that the futures market could potentially play a significant role in determining the pricing dynamics of the apples, with a tendency to exert upward pressure due to the intricate interplay of scarcity anticipation, speculative activities, and hedging strategies amidst the backdrop of decreasing supply."

Halvings impact bitcoin price to the upside, the mechanism is decreased new supply availability. The impact is reducing supply in a nonreducing* demand market. This supply demand imbalance naturally cause prices to bid higher, historicly induces fomo causing overshoot followed by overcorrection then fair value equilibrium over about four years. Halvings can't be easily frontrun because the cost of holding price above equilibrium is overly beneficial to miners who can sell the market back down using pre-halving supply schedule. *external media and political financial factors do impact demand and are regularly used to influence bitcoin price in the short term. These events may be considered by long term holders as opportunities to stack cheap sats. I believe we're now at equilibrium, where this is usually the time of greatest short term price uncertainty as news events may swing either way before the supply reducing mechanism takes center stage once again.

W.H.O. 'World Health' Orginisation is an unelected environmentalist movement that focus on the health of the planet, not the people living on it. They view humaity as the disease, and it's cure is our eradication. Perhaps we've just been reading their name wrong.

Looking back to see the future. https://youtu.be/J-Vjgx75GXQ?si=o1jJd6w5b_eX4d5K

Heard a scientist being interviewed today, she was concerned about the loss of trust in science. Her solution, be more cool and human so people might feel a bond and believe you.

Found a great way to generate 50bitcoins in a few hours https://web.archive.org/web/20100614135405/http://newlibertystandard.wetpaint.com/page/Getting+Started

When bitcoin exchange rates reduce, bitcoin doesn't devalue, its value is concentrated. The work that created every bitcoin in the market has already been proven, it will never reduce, it will never cease to have taken place. This is why 1btc=1btc is often and correctly stated during times of short term volatility.

If the satellites went dark, and the undersea communication were destroyed, bitcoin networks would run independently on each continent. All transactions would be processed by local miners but in regions with less miners the transactions would initially be slow until the difficulty adjustments corrected for this. It would take around a month for a continent with only one percent of miners to adjust back to ten minute blocks. When finally the divided networks rejoin, a process known as a reorg takes place. The 'longest chain' the network with the most mined blocks is adopted by all nodes, the shorter network is discarded but transactions on these short chains are not lost. These transactions are put back into the mempool ready to be confirmed again by the longer chain network of miners. The dynamics here are amazing to me, larger mining operations in smaller regions will turn off, knowing that their mining reward bitcoins will vanish when the chains rejoin. Hobby miners can keep a functional bitcoin network running after some time passes and difficulty reduces. Gaming this out this scenario helps understand not only how resilient the bitcoin network is, but also just how bitcoin works and why it is designed the way it is.

Investor Joseph Kennedy Senior, sold all of his stocks and investments right before the 1929 stock market crash that introduced the world to The Great Depression. While not causing the crash, a high profile investors selling is potential fuel for contagion. Weakened after WW1 this depression caused the UK and a number of other countries including Australia and Canada to suspend the gold standard never to return, to support their economies with 'financial stimulus' money printing. Joseph Kennedy Sr. made large financial investments at these bargain basement prices, cementing his families fortune. President Roosevelt then made Kennedy the first chairman of the US Security Exchange Commission SEC in 1934 the same year that the Gold Reserve Act was passed, restricting individuals from owning gold. And he passed the first law preventing insider trading.

nostr:npub18p63njhaxftx3m8luk2h0umj8p3cmfx09kv9hqhext7gr5ea585qsc0k8k you may want to review potential image cropping issue with substack mobile, reminds me of nearly every top gear episode.

#bitcoin is the first and only 'risk on' AND 'risk off' asset