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10 sats \ 1 reply \ @DrStacker 28 Sep outlawed \ on: Can you crack this SSH key? security
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Thank you for sharing your thorough and thoughtful analysis. It’s clear you’ve gone to great lengths to examine the origins and authenticity of these historical emails, and I truly respect the care you’ve taken to verify the legitimacy of Wei Dai’s involvement through multiple credible points of evidence.
BTC’s crowning achievement? Turning what was once a beacon of financial independence into a slower, clunkier, middleman-riddled imitation of the very banks it was supposed to replace. If Satoshi walked into this mess now, he’d have a good laugh, if not an aneurysm. But at least BTC’s devout followers can rest easy—if nothing else, they’ve proven that even the best ideas can be buried under enough nonsense.
Yes, the first movie was mind-blowing for me. I don't think I've seen the others. I will check them out!
You have definitely left a mark with your guides and honest advice.
Yes, the first movie was mind-blowing for me. I don't think I've seen the others. I will check them out!
You have definitely left a mark with your guides and honest advice.
Oh man, your story reminds me of my own misstep back in 2012 when I got into Bitcoin then fell for the hype around Litecoin being the "silver to Bitcoin's gold." It seemed like a smart hedge at the time, with Litecoin’s faster and cheaper transactions, so I swapped a big chunk of my Bitcoin for Litecoin. Big mistake. When everything crashed in 2013, Bitcoin eventually rose again, but Litecoin didn’t deliver, and I sat there watching, wishing I’d held onto my BTC. Like you, it took me a while to realize that Bitcoin’s fundamental.
I love how this brings back timeless discussions that are still super relevant today. I always read things differently a second time around.
Great write-up! You emphasized from the get-go that Cashu represents custodial IOUs and is not the same as "real" Bitcoin. This is a critical distinction, and by stating it upfront, you manage expectations about how and when users should rely on the tech.
The core of the issue you're pointing out, and I think you're right to be cautious here, revolves around where the yield comes from. There's a famous saying that applies: "There is no such thing as a free lunch." Yield is never truly risk-free.
It is a moral hazard to believe that governments will bail out banks, and therefore it’s "risk-free." However, 2008 and events like the collapse of SVB in 2023 clearly show that even though many big banks were bailed out by government intervention, not all institutions survive.
Saifedean’s argument is consistent with Austrian Economics principles that highlight the importance of sound money and minimizing leverage in an environment with inelastic money supply.