10 sats \ 0 replies \ @freetx 9h \ parent \ on: Thinking through Cashu bitcoin
Yes, Cashu is just a "marketing name" for Chaumian eCash
Yes, the "anonymous mint" aspect of eCash is both its strength and weakness.
This is also whats behind the series of reasoning that I think bolsters Liquid:
- Individual mints can rug you
- Therefore Fedimints are better, since you can distribute power and judge reputations
- Liquid is already an existing Federation of known pro-Bitcoin companies that has been operating for 6 years without any claims of censorship / rugging.
(2) I'm okay with services that add value making a profit.
At the current time, proponents of eCash are somehow thinking very altruistically and they sort think people are going to run mints for free for friends / family. I'm doubtful if it works out like that.
Regardless, the simple way to protect yourself from debasement is to "dip in / dip out" of eCash....that is don't hold it for more than a few days....it should just be a "transactional currency" and not something you hold. This way any secret debasement will not affect you during that short period.
I really like this concept.
I view AI as fundamentally a 2nd Amendment issue. We need to have our own self-hosted AI solutions to help counter the big-corp/govt agents which will be deployed against us.
Sadly, despite being a techie, I've been remiss in actually learning how to self host AI.
Do you know of any good "Getting Started" guides or videos. Something that covers what type of hardware / software you need to host your own AI models?
As I posted earlier. Its clear the internet as we know it is going to sort of disappear.
AI Agent will be the sole interface people use. Messengers, Email, Web Browsing are going to transition to being a sort of interoperability layer for different AI Agents to use. You will just use the "AI Frontend"
The big risk of eCash is the mint can debase everyone silently (ie. every time someone buys in for 100 sats, they mint 105 sats and send 5 sats to themselves).
Its very difficult to detect this.
Here is a chart I made that roughly ranks the risk profile of the various BTC offerings.
| Least Risk | Greatest Risk | |||||
|---|---|---|---|---|---|---|
| BTC | LN | Ark/Mercury | Liquid | Fedimints | eCash | Bitcoin Bank/CEX |
HA!
As a GenX-er, it would be very appropriate if they somehow engineered the longevity breakthru so it only worked on boomers. That way they could still be President as 80 year old GenX-ers died in nursing homes
Another useful strategy (once you built up a decent stack) is to maintain a Fiat-BTC balanced portfolio (say 95% BTC and 5% Cash).
Monthly re-balance the position. So if BTC goes up, that means selling some to keep the 95-5 in balance. The maxi in us hates the concept, but its what the pros do.
The real long term benefit of this is you will buy all dips. You just need to think of the cash portion as "future dip buying material" to quell the maxi in you.
The site is wonky, but if you go to:
And then choose "Average Price Data -- One Screen" that should take you where you can get individual data
I think you are right.
I think this is some old "expired" category. When I pull data for this category number, the last data is from 1988?
So there must be another category its reporting under.
Maybe....I do notice via shrinkflation that you hardly ever see "1 lb" of coffee anymore. Its usually packaged in 12 or 14oz bags.
Meanwhile......
Seems like prices have gone up an average of 15% per year over the last 5 years - up 100% in that time period.
It seems obvious why they removed it....
Yes, the premise of most of these "sell" questions is wrong. They are not "selling bitcoin", they are "buying dollars".
What if I told you about a shitcoin that was $30 trillion dollars in debt, run by an octogenarian lifelong scammer, and had no apparent means of ever paying back it debt.....when does that ever look like a good deal?
I AM NEVER SELLING! I will however buy things as I need them.
The flattening effect effectively increasing the amount of concepts and information to learn
I think the article does a good job of laying out how the interface of the internet is about to change with advent of AI. I think an AI agent is going to be the only interface people use going forward.
"make a circular blue logo using the letters B M G and make it look high tech"
"make a 30 second video explaining the concepts of the PDF I wrote. Provide a subtle musical backing track under the narration to keep the viewers interest"
"explain to me how change the cabin air filter in a 2024 BMW..."
At one level this is going to be profound leap forward in productivity ... at another (like you say)...we are all going to become "jack of all trades, masters of none"
Wouldn't it be ironic if BTC added OPCODEs to help implement scaling solutions, but instead shitcoiners / ordinal makers just had a entirely new set of tools to play with so blockspace was 10x as clogged with new NFTs and scams?
Everything has tradeoffs and there is no magic bullet.
I prefer to keep the devil we know and figure out ways to create solutions without needed any additional changes.
I'm sorta in shock at the current state of gaming (or maybe I should say the 2010 state of gaming, because I no longer pay attention to it)
Imagine if I released a game, where the action was to run around a virtual world and torture and kill dogs.....people would be (rightly) outraged.
However, replace the dogs with humans and people think its "fun".
I can't think of any other word for that but 'demonic'.
One of the reasons why I encouraged my kids to play Minecraft was because of this issue....yes, I know that you need to kill skeletons, .but my theory was, self-defense is fine. (and sure if you are psychotic/evil you can kill villagers).
I felt that Minecraft was a microcosm of christian morals...you have free will to be evil, but you get much further by not killing and instead focusing on productive building.
I try to regularly give to St Jude Hospital. (https://www.stjude.org/donate/crypto.html)