Bitcoin differs from modern fiat in that the issuance is fixed and consensus over the ledger is decentralized, but like modern fiat it is a theoretical money where the ledger is not grounded to any physical reality. There is no guaranteed 1:1 exchange of Bitcoin for something real of known value. So stability is gained though perpetual price discovery in the exchange of real goods and services of known value. Currently the majority of Bitcoin is not exchanged this way but rather exchanged speculatively for fiat, and so the theoretical value is speculative and subject to the rise and fall of hype. That's why it is so volatile. In exchanging one theoretical money for another there is no direct link to reality in this method of price discovery. I've heard all kinds of abstract nonsense about Bitcoin being backed by electricity or computer hardware and what not. The cost of being randomly selected to add the next page to the ledger is not a backing of value in the practical sense, such as the way bank notes used to be backed by gold. There's no guaranteed exchange anchoring the unit of account to physical reality. It's a theoretical money with floating value that must be perpetually discovered in the exchange for things that are real. If you lock up the entire UTXO set among holders who don't want to exchange it then the value essentially vanishes because it's not being proven in exchange.

All out of resets. Gonna have to purchase Codex credits to wrap this code review up. Can't afford to wait five days for a weekly reset.

I browse r/CryptoHelp from time to time for my own amusement. It's a combination of: 1. Got scammed chasing promise of an easy win 2. Custodial headaches/wasn't holding own keys Just self custody and stop looking for a free lunch

BBQ sammies for supper tonight. Last week I smoked a couple of of pork shoulders and vacuum bagged chunks in portions to put in the freezer for meal prep. All I have to do is heat a portion up, finish shredding it and sauce it. Pulled pork sandwiches anytime I want.

It's still just plodding along in this endless review loop. I've used all four of my free resets, and my weekly limit has reset on it's own a few times for some unknown reason as well. Basically it's burned though about two months worth of usage in the past 10-11 days. View quoted note →

Got my buddy installing Linux on his laptop right now. Windows ™ disrespectoors unite! 💪

This bill is a Trojan horse to bootstrap stablecoins into the banking system. In a few years everyone will unknowingly be holding and spending digital dollars with all of the features of a CBDC, and the government and central bank didn't have to build any of it, they just control the regulatory levers. They realized these companies were already building the rails for them and all they have to do is capture them with regulation and give the approved ones a green light into the financial system. View quoted note →