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1 sat \ 0 replies \ @scampy 5 Jan 2023 \ parent \ on: Bitcoin is the Detector of Imbeciles bitcoin
Jimmy summarised it nicely, but if you were still curious then I believe Saifedean talks about the whole affair in this episode of his podcast:
https://saifedean.com/podcast/53-allen-farringtons-adventures-with-fiat-intellectuals
Although Taleb once supported Bitcoin, I don't think he's ever had more than a surface level understanding of it.
It's quite annoying to see this line of thinking coming from various Twitter influencers. While we don't know many details, it seems like Luke wasn't using a typically recommended setup like HWW + passphrase / multisig.
That is my impression too. I was curious to learn what users of Qubes thought though, especially from a Bitcoin lens, as it's the first time I've heard of it and it seems like an interesting project (albeit one I doubt I'll ever use).
Not sure how to interpret your question, as a Bitcoin "maximalist" doesn't view other projects as credible by definition. : P
I'd say that if there was anything interesting or useful being built on other chains, that technology will eventually find itself on the Bitcoin stack.
Looking through Luke's comments on Twitter, it seems like his cold storage keys kept "in a physical safe" have also been comprimised. Almost all bitcoin gone.
Let's hope this is just an elaborate boating accident claim.
Does anyone here use QubesOS, and if so what are your impressions of it?
What advantages are there to using QubesOS over a more common Linux distro such as Ubuntu? Assume the system is dedicated to Bitcoin usage and not used for other activities such as browsing, torrenting, etc.
Keepass is also pretty nice.
There have been some noises on Twitter about seed phrases stored on Lastpass being compromised. This theoretically shouldn't happen as Lastpass backups are encrypted via a password that never reaches their servers, but who knows.
One thing we've seen over the last couple of months is greater interest in self-custody, so I'm excited for improvements on this front. Better multisig UX, Lightning backups, more collaborative custody models, etc.
On the other hand, the government can have a great influence on the basket of goods and services used for the calculation by determining which products and services are inside the basket.
I'd argue that the CPI metric is more fundamentally broken, and doesn't even work with a 100% honest government.
CPI is based on a basket of consumer goods, but that basket changes if prices go up. People switch beef for beans, cars for buses, heating for blankets, etc. It's a self-referential loop.
Quite surprised Nostr was even excluded. There are certainly larger and more controversial social media platforms that could have made the blacklist.
Weird move, and free advertising.
Good morning SN.
Currently syncing a new Bitcoin node. I wanted a cheap dedicated device for this that I can leave on 24/7, so went with a humble Lenovo Thinkpad X260 running Ubuntu.
Alongside Bitcoin Core, I've set up:
- Electrum Server
- Sparrow Wallet
- Bisq
- qBittorrent (seeding Bitcoin Core)
My go-to list is currently:
- Rabbit Hole Recap: Weekly review of Bitcoin and Bitcoin-adjacent news.
- Citadel Dispatch: Bitcoin and freedom tech podcast.
- Stephan Livera Podcast: Bitcoin technical content.
- Bitcoin Standard Podcast: Bitcoin and Austrian economics.
- Bitcoin Audible: Covers popular Bitcoin articles.
- We Study Billionaires (Bitcoin eps w/ Preston Pysh): Bitcoin & economics.
Honorable mention to Trader University, which is a Bitcoin and economics Youtube channel that can be treated like a podcast as it's basically just audio.
If circular economies aren't established before the arrival of CBDCs, it will be much more difficult for people to acquire Bitcoin.
Shitcoins pose a threat in the sense that people falsely associate "Bitcoin" with "crypto". The blowups of Luna / Celcius / FTX had nothing to do with Bitcoin, yet the regulation in response to this will no doubt attack Bitcoin users (Warren's proposed bill being the latest example).
A popular talking point is how Bitcoin will perform with a low block subsidy. I don't have much of an opinion on this and am waiting to see how fee markets develop over the next decade.
How does this setup compare to a humble laptop? You can pick up a Thinkpad with 8Gb RAM and 256Gb SSD from Amazon for under $200. Laptops also come with a case, screen, cooling, built-in battery in case of power failures, etc.
Raspberry Pis are cool, but I don't understand why they're pushed so heavily when it comes to running nodes. Am I missing something?
Seconding Sparrow. And if you do decide you need a mobile wallet for this, Blue Wallet should cover your needs.
what in your opinion are the main malincentives that rewarding via sats solve?
Voting systems like Reddit's would be more useful if they weren't so easily gamed by bots and brigades. A costly voting system like SN's could go some way towards addressing this, depending on how it gets implemented.
do you think adding sat rewards creates any new malaligned incentives that didn't exist before?
r/cryptocurrency is a good case study in what not to do. When the mods introduced a rewards token, the forum quickly became overran by attempts to farm it. Memes, sloppily written how-to guides, boring "unpopular opinion" posts, etc. It seemed to make the sub much worse (and it was something of a cesspool to begin with).
I think it will probably happen next year.
But it's more nuanced than that. In order to prevent everyone withdrawing at once, only a set number of validators will get to unstake per epoch. The logic behind how this works is still TBD, but last I checked early stakers will get priority (i.e. Ethereum Foundation). So even if the Shanghai fork happens this spring, it could be much longer before you get a chance to withdraw if you were a later staker.