Bitcoin Bootneck @BootneckBTC

1246. Wisdom

The fact that you go around the Monopoly board indefinitely to “Collect on Go” from a central bank which is the ONLY source of external income for the entire system, to then charge rising rent indefinitely— It was all so obvious in hindsight.

🧵The Alchemy of War: How Central Banks Turned Human Blood Into Balance Sheets Your grandfather didn't die for freedom. He died for a banking system👇

Cantillon effect by Lyn Alden

MPs may not care about Bitcoin - yet. But they already care about getting reelected. The @bitcoinpolicyuk team has been working for months to make it as easy as possible for you to contact your MP (special thanks to @samishams_ who built this app). With just a few clicks, you can send pre-drafted letters to your representatives to let them know of your concerns. Writing to your representatives is powerful. @Dennis_Porter_ and @SatoshiActFund managed to get tens if not hundreds of thousands of letters sent to reps in the US; likely changing the course of US legislation. There are likely seven million voters with Bitcoin. Help us make that change here in the UK as well. MPs needs our votes. They need Bitcoin - they just don't know it yet. Please like, repost and use the app now! > bpuk.netlify.app

Bitcoin Policy UK @bitcoinpolicyuk

11 months ago

Take action! Write to your MP about Bitcoin.  We’ve built a simple, powerful app that lets any UK resident contact their MP in minutes and speak up for Bitcoin in just a few clicks.  Use the App Now > bpuk.netlify.app Read our blog post > bitcoinpolicy.uk/blog-1/f/take-…

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Fallow is a cracking restaurant in London, probably my favourite(s). And this is a cracking YouTube vid. Vegans and Veggies, look away now. @TufferB youtu.be/Ru_lcRjO5Fw

That conclusion does not follow. It mixes up what Bitcoin must “secure,” what rebalances in a hash‑rate dip, and what actually drives price. 1) Nodes secure the rules, mining prices recent ordering. Full nodes enforce the 21 million cap and transaction validity. A hash‑rate drop cannot change those rules. Mining affects how hard it is to reorder or censor the last few blocks. The “whole market cap must be secured” is a category error: only value in the reorg window is at economic risk, not all BTC outstanding. 2) Difficulty removes the mechanical link to price. If hash rate falls, blocks slow for a short time, then the protocol lowers difficulty so the remaining miners again find blocks about every 10 minutes. That rebalancing does not require a price crash. We have a real example: after China’s 2021 mining ban, hash rate roughly halved, difficulty adjusted over a few epochs, blocks normalized, and price later made new highs. There is no protocol lever that forces price down when hash rate re‑equilibrates. 3) Finality cost is state‑dependent and can be dialed up. If participants perceive more risk, they raise fees for priority and receivers raise the number of confirmations required. Both actions increase the attacker’s required time and expense. The white‑paper math still applies: for an attacker with less than half the hash, the probability of catching up falls exponentially with each additional confirmation. Users can always raise that bar. 4) The fee market fills the “security budget” on demand, not permanently. Attacks and outages are supply shocks to confirmations. With any non‑zero flow of urgent settlements, the backlog grows and the clearing feerate rises. A move from 1 sat per vB to 1,000 sats per vB on roughly 1,000,000 vB yields about 10 BTC in fees in a single block. That visible bounty draws additional honest hash online and gives every miner an incentive to defect from any censoring or undercutting coalition. 5) Price is not pinned to a target “security level.” Markets price BTC from many factors: liquidity, adoption, macro conditions, derivatives positioning. Security responds elastically when it matters through fees, confirmations, and difficulty. There is no requirement that price “rebalance” down to some level before the network can clear transactions safely. Bottom line: a temporary hash‑rate dip triggers protocol and market responses that restore throughput and raise the cost of reorgs when needed. None of those mechanisms requires a price crash, and history shows the network has handled large hash swings without one being mechanically forced.

Bitcoin will reach $1 billion because it represents the fulfillment of humanity's 142,000-year evolutionary quest for perfect scarcity - making this a "once in a species event" that will fundamentally transform civilization.

It's as negligent for a nation not to have a #Bitcoin strategy today as it would have been to ignore the internet in 1994. The UK is the third largest nation state holder of Bitcoin, with over 61,000 coins. Nearly five million UK citizens are thought to hold Bitcoin. And the government holds its Bitcoin on behalf of the nation – you might have thought we'd use this head start to our advantage, to protect and preserve the value of this important reserve (which has increased in value by more than a billion pounds just in the past year). But the policies of the previous government, and @TheFCA – far from making this country a ‘crypto hub’ - have instead placed constraints on UK citizens looking to buy #Bitcoin, and have driven jobs, businesses and tax revenue offshore. We give examples in the thread. Today, we have written open letters to the Chancellor, @RachelReevesMP , and to the City Minister, @TulipSiddiq , recommending three simple policy changes, to help HMG change course, and really capitalise on the country’s first mover advantage: 1. Ensure that Bitcoin businesses and holders can freely operate in the UK, with access to exchanges and to banking, and to adapt our tax policies to encourage spending and saving of Bitcoin in the economy. 2. Conduct feasibility studies relating to the opportunities Bitcoin mining offers in achieving the UK’s net zero goals. 3. Capitalise on the UK’s current position as the third largest nation state holder of Bitcoin and consider an allocation of our existing Bitcoin as a Treasury reserve asset, alongside our gold. Gordon Brown famously sold a significant portion of the nation’s gold at a generational low in the market; at what is now a loss exceeding 20 billion pounds. We should not make such a mistake again. We encourage you to read our open letters, to download the policy manifesto in the thread, and to share it with your local MP. Please also share and repost this thread! With thanks also to @Dennis_Porter_ , to @Excellion and to @JAN3com , whose work with legislators and on nation state adoption has inspired and informed our work, and also to @thetrocro and @JoeNakamoto , for their ever-welcome advice and support.

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I believe (and have for a while) that we're in the early stages of a global sovereign debt crisis. Very early stages, mind you, and with enough time for you as an individual still to take steps to protect yourself and your family. Because not many people have seen this yet.

Robert Colvile @rcolvile

a year ago

The @OBR_UK's new fiscal risks report, published today, is the most polite, spreadsheet-filled horror story you will ever read. It is the bureaucratic, non-partisan equivalent of grabbing our politicians by the lapels and screaming in their faces. It is very, very bad.

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@pete_rizzo_ should be $200 trillion.

✨ #Bitcoin pioneer Hal Finney discussing the potential of zero-knowledge crypto, 27 years ago He was ahead of his time. Legend 🧡

Bhutan would have wasted much of their abundant surplus water, but instead used it to build a reserve worth 40% of its entire GDP This is a blueprint for all nations that have surplus renewable energy resources

Bitcoin Treasury Companies: Trojan Horse by American Hodl

@EmmaforWycombe

Australian Bitcoin Industry Body @AusBTCIndBody

a year ago

.@SenatorRennick, as a public representative, you have a duty to engage with the concerns of Australians in an intellectually honest way—not to dismiss them from a place of confusion or authority. Your comments about Bitcoin reveal a deep misunderstanding. No, you don’t

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McCann Bespoke now accepts Bitcoin. As a brand rooted in tradition but always looking forward, we’re excited to offer our clients even more flexibility and innovation when it comes to payment. Luxury tailoring, tailored to the times. #McCannBespoke #Bitcoin #Tailoring

@dieworkwear I would love to see you guys teaming up.

Danny Knowles @_DannyKnowles

a year ago

Lyn Alden is back... The True Cost of the Dollar Empire w/ @LynAldenContact We discuss: - The Trade Deficit - Tariffs - The Price of the USD Hegemony - Bitcoin As a Neutral Reserve Asset Watch here... youtu.be/GI-f8V8FGGM

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Really keen to hear about this mate - great work!

Freddie New @freddienew

a year ago

Supposedly sensible publications in the UK are still putting out drivel like this about Bitcoin, so you may be feeling a bit down. But I'm currently buzzing after a two hour evidence session in Parliament. Finally sensing some chinks of light. And look at today's pass colour!

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Good to see!

Bitcoin For Corporations @BitcoinForCorps

a year ago

JUST IN: 🇬🇧 UK-listed @smarterwebuk has added 8.61 BTC to its balance sheet—now holding 19.20 BTC as part of its 10-Year Plan. This marks their 3rd #Bitcoin purchase in the last 15 days—showing steady execution of a focused, long-term accumulation strategy.

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“If we get to $150k or $160k $BTC, I would suspect there will be a lot of selling. It’s going to be very exciting; the market’s going to be ripping. But from a statistical standpoint, it is improbable that we keep going and stay there.” — James Check, COQ at Vibes Capital