Bitstein @_bitstein4

#Bitcoin Joined September 2013

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Bitstein @bitstein

6 years ago

Failure to stack sats is not an option! Don't be left behind!

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Fiat Food by @Matthewlysiak is an amazing new book investigating the crime of the century: how inflation made us eat cheap industrial garbage & ruined our health. It is published today by TheSaifHouse.com And also available from Amazon: a.co/d/fZeLqzi

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Saifedean Ammous @saifedean

3 years ago

The latest podcast hosts Michael @saylor to discuss Murray Rothbard's magnificent history of the USA: Conceived in Liberty. Joining in the discussion is @DrPatrickNewman, Mises Institute Fellow and editor of the fifth volume of Conceived in Liberty saifedean.com/podcast/186-co…

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Dr Shawn Baker 🥩 @SBakerMD

3 years ago

THIS IS AWFUL, but you need to hear it!!

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Bitstein @bitstein

3 years ago

When I say I'm a bitcoiner this is what I mean

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Bitstein @bitstein

3 years ago

“Why has #bitcoin not overtaken the USD, the largest and most powerful monetary network in human history, as the most widely demanded medium of exchange, in less than 15 years?” is not quite as insightful or scathing of a question as critics might think.

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Bitstein @bitstein

7 years ago

Rick Rescola, director of security at Morgan Stanley, saved all but 6 of 2700 employees on 9/11 by promptly evacuating them from the WTC despite urges by Port Authority that people remain at their desks. And he did so singing Cornish songs! What a hero. en.wikipedia.org/wiki/Rick_Resc…

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Филип Карађорђевић @PrincFilip1

3 years ago

Karađorđe, in today’s world, would undoubtedly be a staunch Bitcoiner - #bitcoin only. He’d mine it, acquire it, enlighten others, and diligently work on expanding the decentralised network of freedom. He would play his part in the uprising against the unjust current debt based monetary system known as the Fiat Standard. A system that forces printed money onto its subjects, with a supply that is arbitrarily inflated effortlessly by centralised powers, therefore devaluing your hard work and purchasing power at zero cost. Whereas #bitcoin is rules without rulers: an inflation resistant, absolutely scarce, immutable, censorship-resistant, decentralised, indestructible, portable, and divisible freedom protocol, based on truth. Inflation and the debt based Fiat System is modern slavery. Karađorđe would see #bitcoin as the key to a peaceful liberation from our monetary oppression. #bitcoin is džebana

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Bitstein @bitstein

5 years ago

The #Bitcoin difficulty adjustment was Satoshi's greatest achievement.

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Bitstein @bitstein

3 years ago

#Bitcoin is the perfect vehicle for generational wealth, but generational wealth cannot persist without actual generations. This interesting thread asks an important question: are we underestimating the amount of reproductive commitment needed to sustain families? I suspect yes.

Marko Jukic @mmjukic

3 years ago

I think the real replacement fertility rate is not 2.1 kids per woman. It's 5.1 kids. A recent Swedish study found that in a generation born 1885-1899, an incredible 25% of people who had 2 kids had *zero* descendants by 2007! For 1 kid? 50%. A 🧵 on long-term fertility:

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Bitstein @bitstein

3 years ago

#Bitcoin promotes conviviality, even between enemies.

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Bitstein @bitstein

3 years ago

The higher the price of #bitcoin, the more people are willing to spend it. Few understand this.

Saifedean Ammous @saifedean

3 years ago

@raycivkit @hodlonaut Respectfully, Ray, it's the exact opposite. The higher the price the more people will want to spend it & accept it & the more likely they are to find others willing to accept it & spend it. When the price rises, the size of cash balances held in bitcoin increases, so people are

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Bitstein @bitstein

3 years ago

.@lopp points out interesting limitations of the language bitcoiners sometimes use to communicate their ideas, but I disagree with his framing and conclusions. I'd argue "inevitability" necessarily implies that more people will want to do more for bitcoin, not less. Here's why:

Jameson Lopp @lopp

3 years ago

"Bitcoin is inevitable" is a dangerous narrative that can result in complacency. It's exactly the type of psyop I'd run if I wanted Bitcoin to stagnate. Bitcoin is made of people. It needs folks to contribute to both maintenance and improvement of the system. We must believe

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Bitstein @bitstein

3 years ago

I think it's always important to sharpen theory and improve communication skills. That said, I do have very strong convictions about #bitcoin's future, to the point it feels inevitable. It is exactly this feeling that motivates me, and many others, to devote so much time to it.

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Bitstein @bitstein

3 years ago

"If enough people think the same way, that becomes a self fulfilling prophecy." — Satoshi Nakamoto

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Noded Bitcoin Podcast @NodedPodcast

3 years ago

Noded 85 On Drivechains with @Truthcoin, @bitstein and @BitcoinPierre Enjoy! on.soundcloud.com/bKCP5

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Bitstein @bitstein

3 years ago

Second, entrepreneurs can capitalize on these expectations by anticipating the future emergence of these equilibria by developing the tools needed to facilitate these trades in the future. Since every spend also involves a buy, these tools will also help onboard new bitcoiners!

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Bitstein @bitstein

3 years ago

#Bitcoin is already the greatest medium of exchange in existence. I am very bullish on this, and I believe that, long-term, the market will continue to reflect this through increased reserve demand. "It might make sense just to get some in case it catches on.” — Satoshi Nakamoto

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Bitstein @bitstein

3 years ago

I think a better way to look at #bitcoin's long-term growth as a medium of exchange, then, is to look at metrics of growing reserve demand. This would includes price, realized market cap, hodl waves, etc.

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Bitstein @bitstein

3 years ago

From this perspective, we can think about spending in a few ways. First, more will come later, as the price finds equilibria for individuals within a broader market of growing demand. We would expect people to give up other goods before their most precious medium of exchange.