@Brunswick
58,007 sats stacked
21 sats \ 1 reply \ @Brunswick 16 Jun \ parent \ on: I'm Max Webster, founder of Hivemind Ventures, a Lightning Network seed fund - AMA! bitcoin
Funny you replied now. I just got my SN account logged in again.
I think you misunderstood my question. The products you describe are 100% backed token assets. What I'm asking about is collateralized debt, as in debt that is collateralized with the very thing being purchased like a house or a car.
I agree that things like ecash/cashu/fedimints may draw parallels, but these are not 'free banking' per-se.
By definition, free-banking is an independent business engaging in fractional reserve lending. They place the collateral on their books as an asset the same as any bitcoin their ecash may represent. So long as nobody drains their accounts at once, they are solvent.
When demand for bitcoin begins to exceed their bitcoin reserves, they either need to take a loan from another bank, get their customers to make more bitcoin deposits (remember certificates of deposit?), or they need to force their customers to liquidate (sell) their property (car or house) and pay their loan immediately in actual bitcoin.
What thinks ye? Does this lead us back to where we are today with un-backed fiat?
Some people are willing to put an alexa or google assistant in their home, the same as some people will be willing to let their neuralink be connected to free centralized cloud services. Even if a human-brain interface becomes a necessity, there will be the equivalent of privacy-minded individuals that will be very careful who and what has access to that connection.
I believe I have decoded the lefty's mind. A few days ago I realized why they seem impenetrable when you present them with facts, figures and incentives.
Here is my hypothesis why:
The leftist believes in an ideology. This is obvious. But what is the ideology?
The basis for the ideology is social justice. Yes, I know this sounds cliche, but give it another thought;
- Q: What does it mean to be for social justice?
- A: To be for social justice is to prefer feelings of empathy and community over self-interest.
When an orange-pilled and red-pilled corn hodler presents bitcoin to the leftist, they present all of the aspects the leftist sees as repulsive. Even though the leftist will live in the lap of luxury dining on fine wines, cheeses, beers, sweet meats, they do it eschewing money and wealth.
The orange pilled will react to this behavior as hypocritical and contradictory, but this is the source of the leftist's guilt. To point it out to them only serves to throw them into cognitive dissonance, and this is no way to make friends. This is the fault line of the political divide. The leftist resents the non-leftist for embracing self-interest and political policies that embrace individual responsibility.
To get to the core of the matter;
- The leftist has a belief system that if we all hold to certain values such as egalitarianism and fairness, with government policy (of course), it will eventually overcome the evils of greed and unbounded wealth and everyone will eventually be free of oppressive imbalances of power.
Therefore, to present them with facts to the contrary is only to reinforce their belief system. They only see your inconvenient evidence that proves their ideology counterproductive as a temporary obstacle that will eventually fade away as their utopic vision finally overcomes the present darkness imposed by the evil industrialist.
What say you, does this provide any value to the conversation?
When you will learn how to step out from the slave cage, then you will know
When you live under totalitarian organized crime, how does one avoid paying protection money when all they need to do is look at what you own and force you to pay them a portion?
The peak of civilization was when you could just pick up a phone, order as many pizzas as you want, wait 20 minutes and shove cash at a guy after he rings your doorbell and hands you pizzas and you didn't have to feel ripped off in the end.
Its all been downhill since then.
It appears this is a misunderstanding. You can use your twitter app and read this thread explaining why your build didn't match. Both honest and dishonest people don't want to be called a liar, so @nvk 's response is excusable, even if it raises suspicions.
A publicly configured build server or versioned docker script that is used to generate any binaries should alleviate any concerns. It signing by the devs shouldnt cut it with most bitcoiners unless its reliably reproducible.
Why are you communicating with him on twitter?
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Regardless, if their build is unreproducible using their instructions (regardless if its from poor documentation), its not worthy to be used for generating bitcoin wallets.
There is another thread on this tooic, and @nvk is also here on SN
Every 10 years there is a new disruptive technology. Can we predict what they are? Probably not, but its fun to speculate. Here are some of those:
- high power technology in the hands of the individual requiring advances in high-power conduits such as high-temperature superconductors.
- free and abundant energy sources owned by the individual
- human-machine interfaces that bypass our five senses
- Better understanding of matter, energy and space, enabling
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- superluminal travel
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- superluminal communication
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- force fields
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- energy-matter conversion
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- synthetic gravity/antigravity
60 years ago we imagined these things would be here in perhaps 90 years from today. Will our grandchildren be living any of these realities?
One thing is certain; we cannot escape the bonds of tyranny without first breaking the chains of dependence on trust in authority-by-force and consequently fiat currency
I am a bitcoin maxi. If you say you aren't but you are orangepilled, I don't know what you are. Christians embraced a slur and consider it an honor to be called a christian. Embrace what you are, don't internalize shame from the deceived
This is the root of all shitcoinery. "Trade your bitcoin for my hopecoin. Now put your hopecoin in one hand, and my shit in the other, which weighs more? Neither, I just took your bitcoin... dumbass."