909 karma · joined July 1, 2016
I don't think there's any doubt the conclusion you're supposed to reach is that it supports an Austrian economics view about the negative effects of our current monetary regime, and de-linking the USD from gold.
They probably wrote a script that tacked on a bunch of random letters and numbers to a sentence, then hashed it via brute force until it returned a hash that started with the exact same thing that the sentence said.
This is similar to how Bitcoin's proof of work algorithm.
It's a pretty nice way to keep your feed quiet (not spammy), but also allow your notes to make it out to the broader public nostr sphere.
Again, I would point out (not for you since your reasoning is clearly motivated, but for anyone else reading it) that Bitcoin miners overwhelmingly use electricity that would go to no other use, and thus is incredibly cheap, and would naturally be expected to have little to no effect on average electricity bills.
Having a buyer of last resort is good for energy grids (or any product), not bad for them. It incentivizes grid build out. Instead of worrying about whether a particular energy development will have enough demand, they can work out a deal with Bitcoin miners to sell wasted energy to them.
Industrial users of power frequently work out power agreements that will pay them in the event that they are required to shut down. This is completely normal. The difference is that Bitcoin miners are EVEN MORE flexible in that they can shut down at a moment's notice, unlike manufacturing or smelting. Again, this is good for grids, not bad.
If any developers tried to convince anyone to run Bitcoin software that debased their savings, they are going to have a very bad time.
You can pay a Bitcoin lightning invoice on this site and get a redeemable Mullvad voucher instantly. Extremely convenient. Since you've only done 1 BTC transaction, I assume it was a large one for lots of time. However, when your time runs out, this option is great. It's an extra layer of privacy and you don't have to wait for the transaction to settle on chain.
You can pay a Lightning invoice to get a voucher which is redeemable on the website. You get an extra layer of privacy, and also don't need to wait for an on chain transaction.
Now they go out of their way to expose this one. Mainstream media outlets are really arms of the Western security state. I should hope this is absolutely clear to everyone at this point.
He oversells the need of miners to band together to defend Bitcoin. They do not. All that's needed is for nodes to invalidate blocks, which is a simple command. No code changes or anything required. If an attacker is 10 blocks deep into an attack, node operators can just invalidate the first block of the attack, wasting all of the effort and resources of the attacker. Nodes can invalidate blocks longer than an attacker can stay solvent.
Miners must follow the economic majority of the network or risk wasting resources mining a losing chain. Miners aren't rule makers, they're rule takers. This was the main lesson of the Bitcoin Cash fork which the author mentions several times, but maybe he missed the point of it.