0 sats \ 0 replies \ @Svoboda 2 Sep \ on: Sunday Survey: How concerned are you about miner centralization? bitcoin
I only think it could be a potential problem if advancements in nuclear (or other similar energy tech) do not happen in the coming decades.
Actually just posted this on nostr a few minutes ago. I just don't think China wants to be the world reserve currency and have to defend it. Also, now that they're in BRICS, if I'm one of the partners I don't want one country to have the upper hand -- that is precisely what led to the US oppressing all of us.
I only know of one trustless monetary protocol that seems perfect for what they want to do. Anyone know what it is?
If you concur with her ranking that she was even farther left than Warren when she was a Senator, I'd expect her to carry the torch unless Ro's Pro-Crypto Army can somehow defeat Warren's Anti-Crypto Army.
Remember when the IMF basically said they wouldn't work with El Salvador if they went down the Bitcoin path? Well, well, well how the turntables...
Seriously though, they keep tossing in the risks of Bitcoin in every one of their press releases but never have anything of substance -- empty rhetoric. The fact they've bent the knee and are now working with El Salvador despite Bukele flipping them the Bitcoin bird is what's most telling.
Would I like it to? Yes. Will it? Just can't see it.
Unfortunately, while the Internet made information (essentially) free and readily accessible, it did the same for discussion. The belief slash expectation is they shouldn't have to pay to share their thoughts, ideas, and opinions.
You've already seen this mentality play out in journalism where most people don't believe they should have to pay for it. Now you see sensationalism to attract eyeballs/clicks, much shorter attention spans, lower quality reporting, and a whole plethora of unintended consequences resulting from the combination of the tech and beliefs.
That said, does SN really even want to replace Reddit? Whereas Reddit prides itself in being the "front page of the Internet" maybe it is better for SN to have the niche of being the "front page of quality discourse?"
This site is a great resource if this interests you: https://bitcointreasuries.net
It's her quote... she jumbled two thoughts together. The credit reason is separate from the checking piece. From later in the article:
The rule capping credit card late fees was passed by the CFPB in March, but then a coalition of bank industry groups sued to stop it before it could become law. The law is pending appeal before a judge. Trade organizations representing large banks also sued to prevent changes to the Community Reinvestment Act, which requires banks to offer their services to low-income and historically disadvantaged communities.
Even though the credit card late fee cap hasn’t become law yet, some credit-card companies are ready to pass on costs to customers. Chase has sketched out plans to ratchet up interest rates and take a more conservative approach to underwriting credit-card loans, according to an investor presentation.
So the potential tightening of credit is due to them not being allowed to have higher credit card late fees. Just means they won't be as predatory when they're giving some dude with a 550 credit score a card.
If you follow Rijndael (@rot13maxi) on the ole twatter, he believes that activating op_cat can make Bitcoin quantum resistant.
Maybe? Unfortunately, I think it will remain fringe until participants are seeing similar realized earnings on the Bitcoin-based replacements.
Just take your record label and management company example. There are Bitcoin-based systems out there like Wavlake or the Value4Value movement that allow people to self-publish and self-release their music. However, if you look at the Top 40 on Wavlake, for example, the artists aren't making much.
Actions speak louder than words.
Do I believe RFK, Trump, or some other politician that is pandering to us? Not in the slightest. However, while they have just given us lip service, the current administration has shown us through their actions that they are anti-Bitcoin.
So with that, I will gladly give those pandering my vote over giving it to someone that has already acted against me. This is what is being lost in all of the discussion on this topic.
I was doing some digging on this earlier and came across this BIS article from June 5 that mentioned Saudi Arabia is joining mBridge as a full participant:
Project mBridge continues its development and has reached the minimum viable product (MVP) stage, while broadening its international reach. The project aims to explore a multi-central bank digital currency (CBDC) platform shared among participating central banks and commercial banks, built on distributed ledger technology (DLT) to enable instant cross-border payments and settlement.
Project mBridge is the result of extensive collaboration starting in 2021 between the BIS Innovation Hub, the Bank of Thailand, the Central Bank of the United Arab Emirates, the Digital Currency Institute of the People's Bank of China and the Hong Kong Monetary Authority. The Saudi Central Bank is joining mBridge as a full participant. There are also now more than 26 observing members.
I'm a firm believer in things aren't often just coincidences. The fact this was updated on the 5th mentioning Saudi Arabia was joining with the agreement set to expire on June 9th seems just too easy to connect.
As an American, I have no interest in triggering a taxable event every time I spend. Until that changes, there will be very little movement in the United States.
I subscribe to Joe Carlasare's line of thinking where the issue here isn't with ETH being a security or not, it's with the fact that they already opened the door with the ETH Futures ETF. Once they SEC approved those, they sealed their own fate especially after Grayscale won their lawsuit.
Moreoever, unless other coins get Futures ETFs, I think you may see the SEC stop at BTC and ETH.
There is no good reason to veto this now and cost himself votes considering how many Democrats voted in favor including Majority Leader Chuck Schumer.
If he does, it's on par with the same "arbitrary and capricious" standard (willful and unreasonable action without consideration or regard for the facts and circumstances) that lost the Grayscale case for the SEC and led the way for the Bitcoin ETF. Hopefully he has some competent advisers that will wake him up (literally and figuratively) and tell him to sign it.
It's just wild the levels of front-running that can occur within the traditional finance system and how, in the case of Bitcoin, we got to front-run them all.
Do you have plans to make it over to Berlin? From speaking with some folks from ES at Unconfiscatable, that sounds like it is much farther along in adoption community wide.
I think the belief is that once enough parties shun the US/USD that because they don't trust each other's currency that they'll ultimately settle on Bitcoin.
Two things has to happen though. 1) BRICS has to get a critical mass of countries that, as a collective, move the needle significantly and that there is enough power to stand up to the US as a collective and 2) Bitcoin's price needs to appreciate enough to make settlement easier without the need for hundreds/thousands of BTC.
0 sats \ 1 reply \ @Svoboda OP 31 Dec 2023 \ parent \ on: 2023 Bitcoin Wallet Address Growth bitcoin
The majority of the growth was at the sub 0.1 levels and it would be really poor UTXO hygiene to have multiple addresses at those distributions so I'd place my bets on those being individuals.
I don't sweep anything smaller than 2M sats to cold storage anymore and in doing some napkin math, I'm probably going to bump that even higher in 2024. I had already moved it from 1M to 2M in 2023 and if adoption continues to ramp, mempool continues to be full with fees ramping, it's going to be very costly for those that haven't been on top of their UTXO management.
Hell, I was in a Space yesterday with some Bitcoin veterans and even they didn't quite understand how UTXOs worked because wallets have obfuscated that away under the guise of end user UI/UX simplicity.