Muslim Bitcoiner's avatar
Muslim Bitcoiner
Mbitcoiner@Bitcoinmajlis.nostr1.com
npub1uzfp...57h3
Bitcoin cultist. Co-founder of Bitcoin Majlis. Author of Anti-riba Money. Austrian Economics. Supported BIP-110. #staySAIF.
Muslim Bitcoiner's avatar
Mbitcoiner yesterday
Been thinking about this post from Saifedean. I mean, it's technically/economically correct, but I feel like the post places overwhelming explanatory weight on the appreciation of Bitcoin, like it's almost treating the social organization of economic life as something that will just sort itself out once the monetary incentives are sufficiently powerful. Idk, I could see a scenario where Bitcoin becomes the world's dominant monetary asset via NGU while average person's economic life remains almost entirely permissioned + surveilled with a fiat layer on top. So yeah, this overall explains how bitcoin becomes the money and the necessity of NGU, but we should also ask what kind of economic/political order emerges around that becoming. image
Muslim Bitcoiner's avatar
Mbitcoiner 5 days ago
Nostr has this amazing, and probably unintended feature where influencers are unable to "get it." Notice that his idea of "quiet" is the absence of influencer presence. Let's keep it that way and build from there. View quoted note →
Muslim Bitcoiner's avatar
Mbitcoiner 5 days ago
I find it quite funny, but also predictable, that DH is commenting on this like he's outside of it, but he's part of the same LSM Dawah Inc machine, and his followers can't even see it. Once the Bitcoin/Nostr Caliphate is established, we're sending all of these "people" to the Bitcoin mines where they can actually be productive members of society. image
Muslim Bitcoiner's avatar
Mbitcoiner 6 days ago
I love it that when I come visit my little brother @MoeCoin he always has raw milk for us image
Muslim Bitcoiner's avatar
Mbitcoiner 1 week ago
Been thinking that it would be cool to have this sort of workflow into a Nostr app. Something that helps facilitate the communication and strengthening the bond between user and FOSS developer, where they both support each other. image
Muslim Bitcoiner's avatar
Mbitcoiner 1 week ago
What if we could all use each other's DRAM instead image
Muslim Bitcoiner's avatar
Mbitcoiner 1 week ago
"Naisbitt also foresees a deep restructuring of political and social systems, driven by decentralization and the decline of traditional institutions. He predicts the rise of electronic money, networked structures, and participatory democracy at the expense of hierarchical models."
Muslim Bitcoiner's avatar
Mbitcoiner 2 weeks ago
Very rarely do I find a podcast that completely blows me away and inspires me and delivers this much signal. If you're reading this, I'm telling you to stop scrolling and carve out the time to listen to this. Seriously. We need to be thinking in terms of building another internet, with our tribes/communities/cults on board. The existing internet is fragile. A cyber pandemic is a matter of when, not if. Digital IDs are already creeping into the infrastructure of everyday life. Our nodes, servers, relays need to communicate beyond centralized chokepoints. We need to build our own mesh networks, open source communications and monetary infrastructure, an interconnected digital world that can operate independently of fiat surveillance machinery. And no, your shitty website with an email/github login to an ummah portal isn't gonna cut it.
Muslim Bitcoiner's avatar
Mbitcoiner 2 weeks ago
Responding to: "What would it take for a major platform such as Meta, Shopify, or OpenAI to accept bitcoin?" You're asking the wrong question entirely and it reveals just how poorly @Spiral and much of the broader Bitcoin industry understand the problem they're actually trying to solve. The problem with Bitcoin payments goes considerably deeper than insufficient demand or inadequate technology. The existing commercial economy operates within an entire institutional architecture of fiat money, payment processors, regulatory regimes, usurious intermediaries, etc. that determine how people exchange value in the first place. Yet the prevailing approach to Bitcoin payments seems to want to incorporate btc into this architecture on its own terms thru custodial services, KYC, regulated payments, and of course automatic conversion back into fiat. I mean suppose Meta, Shopify, etc. accepted Bitcoin tomorrow. What exactly would we have accomplished if the underlying monetary architecture/relationships remained largely unchanged? We'd have introduced another payment instrument while preserving the institutional arrangements Bitcoin was supposed to make unnecessary. And I am particularly skeptical of the enthusiasm for stablecoins as a "bridge" toward Bitcoin adoption. What reason do we have to believe that expanding the circulation of digital dollars will eventually produce demand for Bitcoin as money? Why wouldn't it simply reinforce dollar hegemony and extend the existing monetary order onto new technological infrastructure? I mean really, there's an almost comical contradiction in trying to achieve monetary sovereignty by trying to make Bitcoin increasingly compatible with the institutions from which it was supposed to offer an escape. It's becoming obvious to me that we're approaching the entire payments question backward. Rather than cultivating new economic relationships in which people earn, save, and exchange Bitcoin directly with one another, we seem to be preoccupied with convincing the existing financial establishment to accommodate it. And this is precisely why I think the emphasis on demand is just dumb. Demand for money does not emerge in a vacuum. It is shaped by the entire network of economic relationships, obligations, institutions, expectations through which people coordinate their lives. You cannot expect Bitcoin to become widely used as money simply by making it another checkout option within an overwhelmingly fiat denominated economy. Don't know what the "moonshot" is here, but understand that Bitcoin could become very successful as payment tech but accomplishing little in transforming the monetary order. Bitcoin industry needs to confront that possibility. We can not assume that every new integration, stablecoin rail or corpo partnership somehow moves us closer to Bitcoin standard. We need to take time to explore what kinds of economic relationships Bitcoin makes possible that could not exist before, and how we begin building them. That's where I'd direct the developers and builders to experiment. Stop begging and idolizing Meta and Shopify or whatever to accept Bitcoin. We need to be making their permission increasingly irrelevant! OK I think that's all I wanna say.
Muslim Bitcoiner's avatar
Mbitcoiner 2 weeks ago
"Becomings are virtuous because they increase one's capacities, exceeding the organic, the signifying, and the strata of subjectification in a becoming-imperceptible, becoming-indiscernible, and becoming-impersonal. This is a perceptual semiotics that allows one to create the new" image View quoted note →
Muslim Bitcoiner's avatar
Mbitcoiner 2 weeks ago
"The gathering of the Muslim Bitcoin Summit is not about figuring out immediate solutions, but about something more, a gathering of minds. Representing a crack in cyberspace and reaching out into the physical realm to initiate a riba free culture that later forms into civilisation. Paradoxically, all major movements during the Enlightenment infected society this way, through the meeting of like minded minds that existed at the fringes of the dominant culture in secret societies and closed clubs who later changed the course of modernity itself. In such a world that is spiralling into chaos, the Mohammadan recognises that his mission is not easy; that whoever owns the future is the one most attached to his divine purpose of being God's vicegerent on earth." View article →
Muslim Bitcoiner's avatar
Mbitcoiner 3 weeks ago
Really feels like the start of a covid like pandemic in cyber
Muslim Bitcoiner's avatar
Mbitcoiner 3 weeks ago
"We had built and assembled a decentralised team. No head office. No single point of coordination. Work moved to whoever was best placed to do it..." Absolutely incredible what we managed to pull off on such a shoestring budget, with people scattered across the world, most of whom had never even met in person, somehow coordinating and bringing it all together. Allahu Akbar! View article →
↑