Lysander Spooner

Nostrich conservationist - Slavery abolishionist#Nostr #nocoiner

Public Key

npub1avmz5jk4c409lupvak5ra244m06w30s840kz2c2mkt37h0lhh4sskqmfgw

NIP-05 Address

lysanderspooner@iris.to

Profile Code

nprofile1qqswkd32ft2u2hjl7qkwm2p7426aha8ghcr6hmp9v9dm9clthlmm6cgpp4mhxue69uhhjctzw5hx6egs8c56m

Publishing to

yabu.me

Author Public Key

npub1avmz5jk4c409lupvak5ra244m06w30s840kz2c2mkt37h0lhh4sskqmfgw

Show more details

Published at

2023-03-01T16:58:24Z

Kind type

0 Metadata

Event JSON

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Last Notes

2023-03-19 11:00:10 UTC

- reply

Lol it takes less to raise the arbitrary fiat limit of Bitcoin than USD. 21M (really 2 quadrillion 100 trillion units) was completely arbitrary, it doesn't even appear in the holy white paper. You have 6, now 5 core developers with write access to the centrally hosted Github. Nobody has or will consider any fork the real deal. But all of that is beside the point. USD can keep expanding at the rate it has since the Fed was established in 1913 and it will take 1,540 years for sats to become as scarce as cents.

2023-03-15 00:39:41 UTC

- reply

As in, total amount of USD in circulation is estimated at 1.5 trillion dollars
x 100 cents per dollar = 150 trillion cents, the fundamental indivisible unit of USD.
There are 14 X more fundamental units of BTC than USD.

2023-03-15 00:37:53 UTC

- reply

2,100 trillion fundamental units of BTC.
Know how many USD cents there are in circulation? 150 trillion

2023-03-15 00:28:23 UTC

- reply

Well done! It's only 2 quadrillion 100 trillion.

2023-03-14 11:50:33 UTC

- reply

No, there's 4 quadrillion units. The 21M is a psyop that doesn't apply, because the units are divisible without losing utility.
If you cut a banana in half, it doesn't full two people the same as a whole banana each. If you cut a tractor in 10 pieces, you don't have the same utility as 10 tractors.
Not so with Bitcoin. A division of a Bitcoin fulfills the same purpose as a whole Bitcoin. It loses no utility on account of it's division.
If you could slice a banana into 100 pieces and each piece still satisfied the same wants as a full banana, you have effectively expanded the supply of whole bananas.
The supply of units on the Bitcoin blockchain will be 4 quadrillion, if we imagine it will never ever change (tho that requires less sign-off than a Fed interest rate hike).

2023-03-14 01:15:49 UTC

- reply

That's not insight, that's called a tautology. A = A doesn't communicate any wisdom, just the illusory response of feeling right, which our monkey brains associate with wisdom.
#[4] That Saylor and Bukele lost is a realized fact of history. Both expected the price to go up because they thought a wise central planner (whose identity is hidden) could mathematically enforce deflationary effects, through centrally planning the rate of supply and deploying Keynesian tactics such as "the halving".
So you can skip pretending this is a case of a few people failing to "time the market". It's a case of a central plan shown to have no clothes when it meets the market.
"Nobody knows the exchange rate tomorrow, next month nor next year" is a sly change of tune for someone who tells the world Bitcoin is mathematically guaranteed to increase in relative value over time to other goods and services. Central planning fails. This central plan failed. Bitcoin has even managed to outpace the dollar's inflation.
Saylor is $1.3BN down and you're trying to imply he would have bought early anyway if he knew what the price would be today. Bukele down over 50% and you suggest the same? That's some serious cope, can I have a hit?

2023-03-09 22:54:52 UTC

- reply

DCA is an acronym that stands for Dollar Cost Average. I use it accurately here to describe the average cost at which Nayib has purchased BTC.
You're right that, like most words and acronyms in the Bitcoin orbit, DCA has been absolutely pretzeled beyond the regular meaning of terms -- this time into a verb that means a regular periodic purchase, typically monthly.