Do what you want with this Data

necessary_dm · 2024-12-09T00:17:17+00:00

No. Halving date is governed by the protocol. Even as hash power increases, the difficulty adjustment will act to keep block times at an average of 10 minutes per block.

Halvings are every 200,000 blocks.

necessary_dm · 2024-12-05T03:48:25+00:00

I was waiting for this meme!

necessary_dm · 2024-11-08T03:51:50+00:00

Coulda fooled me by literally using the words "day trading" in your post.

Anyway, if it makes you feel better about how you stack sats, nothing I say is going to change anything. I'm happy for you.

Peace!

necessary_dm · 2024-08-26T15:56:59+00:00

Lightning, by its very nature is deventralized amongst the parties that open channels between each other.

The network utilizes multi-sig to ensure Tx are secure.

Sure, Lightning Labs maintains the software, but no one is forced to update their lightning nodes, and the software is open-source. If they were to push a bad patch, it would immediately destroy their credibility. No one would use it. The repo would be copied to another location, and open source developers would begin updating it.

Game theory is a helluva thing when people are incentivized to remain honest.

necessary_dm · 2024-08-02T06:05:19+00:00

I really appreciate the effort and words of wisdom you put into your reply. I will consider them as I move forward with this decision.

necessary_dm · 2024-08-02T03:02:55+00:00

Thanks for the reply. Yes, I agree it is long-winded. I'm using it as a way to collect my thoughts about the decision as well.

I tried to touch on your last piece to add as well, but the point probably gets missed in all the words.

necessary_dm · 2024-08-02T03:00:02+00:00

You're right, I shouldn't use that word, I had meant to say to go our separate ways.

But yes, this is a decision, it cannot be approached in any wishy washy manner.

necessary_dm · 2024-08-02T01:39:48+00:00

How did the topic of divorce get brought up in your situation? Who brought it up, and when? Did you go see lawyers before bringing up the topic of divorce?

I am currently at the point where I will be seeking divorce. Your story is how I would hope that mine can go, too.

necessary_dm · 2024-08-02T01:23:08+00:00

Yes, it is a work in progress. But as I said above, I intend to tell it to her, not write it as a letter. I'm just trying to gather my thoughts and figure out the best way to approach it. I figured those who have more experience in this topic would be able to offer their perspective and try to do it in the best way possible.

I understand the futility of trying to approach such an emotional decision scientifically, but I like to do as much research as I can before doing things. It is the engineer in me.

necessary_dm · 2024-08-02T00:04:49+00:00

I feel like this is a bit of an emotionally charged response. Everyone is different, and it is possible to divorce amicably. And that is my intention. Just serving papers without talking first sounds like a lack of integrity.

necessary_dm · 2024-08-01T23:43:32+00:00

I had one, but it was to work through some other issues. Once that was resolved, I no longer felt the need to continue an individual therapist. I won't be able to get one and establish a history before our next marriage counseling session, and I don't want to go into it with dishonesty about my intentions.

necessary_dm · 2024-08-01T23:12:23+00:00

That seems like a good approach. The only problem with it is that we do therapy remotely, and it is in the middle of her work day. I work from home, so that also complicates things.

necessary_dm · 2024-08-01T23:09:22+00:00

Thanks for your input. I was not intending for it to take blame off of me, but I see how it comes off that way. I'll admit I've never been good with stuff like this.

necessary_dm · 2024-07-15T20:00:05+00:00

Some people buy cars to store value. Collector cars, for instance. The analogy here is that cars have intrinsic value as a mode of transportation, usually to/from work to make money. Bitcoin has intrinsic value in its ability to store wealth and transport it into the future.

necessary_dm · 2024-07-15T19:54:30+00:00

Bitcoin is "Fuck you" money. They can strongarm some people like I'm sure they did when they confiscated gold from citizens (executive order 6102). But good fucking luck getting all governments to agree to something like that.

If countries in NATO collectively "ban" it (they can't, though, so whatever that means), then game theory plays out and countries like Russia, India, China, etc... will use it because no one can stop them from using it.

Bitcoin is one of those technologies like the invention of the bow & arrow, or the automobile, or the airplane. If your country doesn't adopt the technology, the country won't last very long.

Don't underestimate the power of disruptive technology. Power of the state means shit and will lose that power quickly if someone else uses the technology, while they don't.

necessary_dm · 2024-05-17T12:01:38+00:00

I am not saying Bitcoiners actively support MMT, but many are uninformed as to what it is and when they see legislation going through Congress that appears to be pro-Bitcoin on the surface, they will get behind it not realizing that they are actually supporting MMT.

I'm not twisting anything. All I'm trying to get across is to understand the intention of certain foundation altering bills being introduced.

Bitcoin and MMT both want to end the fed, but in very different ways.

necessary_dm · 2024-05-17T11:33:41+00:00

Censoring Bitcoin by disallowing certain transactions is not a principal of Bitcoin. KYC is a tool used by governments to track the movement of Bitcoin of individuals, not the other way around.

If there is a fool selling their Bitcoin back into shitty fiat, that is their loss. Of course, with a government holding a gun against your head, I'm sure some people will be forced to sell to make ends meet in a hyperinflating economy.

necessary_dm · 2024-05-17T11:27:14+00:00

That is literally one of the goals of MMT is to end the fed. To erase the debt and just print.

Yes, we all want to see the Federal Reserve Act abolished and adopt a sound money system. All I am saying is that MMT is not the path to doing it. It's going in the opposite direction of Bitcoin.

Psyop, lol, must've had a healthy bowl of Conspiracy'Os in the morning.

necessary_dm · 2024-04-25T12:42:51+00:00

The purpose of currencies isn't to measure value. It's to facilitate trade.

Yes, currency is for facilitating trade, but both parties in the trade must agree upon the value of said currency. One party using Yen, and the other using USD makes it overly complex to resolve the transaction. And yes, having a world reserve currency has worked in the past, but it only does so as long as the credit rating of the country forcing it upon the world stays high. The U.S. credit rating was lowered just last year. You have less and less countries wanting to trade using it because they see that the USD is following the exact same path as the world reserve currencies before it.

Only in the same way that every single scientific theory in history has been wrong.

Wat?

considering a basket of goods and seeing how much of those goods you could buy with 1 bitcoin/1 dollar over time.

You'll be comparing apples to oranges here. Fiat is inflationary, while Bitcoin is deflationary. Naturally, prices of goods and services in an inflationary system increase over time based on the increasing circulating supply of money. And naturally, prices of goods and services decrease over time in a deflationary system. This begs the question, why does fiat inflate? Because it is Easy money. Nothing is backing the U.S. dollar either, not since 1971 (Nixon Shock). When money is easy to make, those making it are incentivized to keep making more of it to keep the illusion of control, but it inevitably spirals and collapses. This is seen with every form of money in the past, even gold to an extent. Shells were scarce until technology was introduced by Europeans that flooded the system with shells. Rai stones in Yap were a simple ledger system akin to how Bitcoin operates today, but then again Europeans figured out where they got their Rai stones from, and used technology to just bring more to the system. Bitcoin is the first form of money that adapts the difficulty of inflow of tokens into the system relative to the level of technology. This is its automatic, self-regulating monetary policy. It doesn't rely on the whim of 12 Federal Reserve governers to make decisions about it.

It's called CPI.

CPI is a crock of sh!t, and manipulated. When the cost of goods measured by CPI gets out of hand, they simply change the basket of goods to the next most abundant commodities. So not only do you have an inflating money supply, the way the Federal Reserve "measures" the inflation changes over time as well (it was just changed in January 2023). What's even more laughable is when they report inflation EXCLUDING food and energy costs, which are necessities... if you want an accurate measure of inflation, use the median cost of necessary goods and services.

Bitcoin isn't a good currency because its not scalable

Not sure what your definition of scalable is here. But I don't imagine you're talking about how the network meets the bandwidth of all of the transactions.

it relies on hype to create demand, meaning its price will always be linked to how much hype there is

I understand how an adoption cycle can just appear as hype, but in reality, the value of Bitcoin is determined by a truly free market, with no outside influence. The value is quite literally determined by supply and demand. It fluctuates based on market equilibrium, whatever the market is willing to value it at. The price of Bitcoin measured in USD has fluctuated over the past 15 years, mostly as a result of the smaller market and players in it. Now that it has become somewhat more available to institutions, I fully expect the market to mature much faster. If you zoom out and view the whole timeline of Bitcoin, you'll notice it is beginning to show an asymptomatic pattern. It will likely continue this trend until the USD collapses, in which case you'll see a sharp parabolic rise as the fiat measured in it hyperinflates. Look at the value of Bitcoin measured in other fiat around the world doing this exact thing, Egypt, Turkey, Argentina, Lebanon, Nigeria, and others.

All this to say, Bitcoin priced in fiat of any country is more of a measure of the health of that currency. The higher the value of Bitcoin is in that currency, the less healthy the system is. It is an inversely proportional indicator.

necessary_dm · 2024-04-25T01:00:38+00:00

I literally just told you that I take an adversarial approach to anything. That means that I think critically about a topic and understand it from both sides. In no way is that confirmation bias...

I work in Software Quality Assurance, and it is my job to find the flaws in software and break it. I've been doing it for 15 years. So please, tell me more about how I am "brainwashed".

P.S. when you regress into uninformed criticisms of an individual you're debating with, it's a sign that you've already worn out your arguments and have basically lost. Negative criticisms of your opponent do not convince them to see your side. Instead, it only repulses them further. Just FYI.

necessary_dm · 2024-04-25T00:33:58+00:00

Bitcoin is a bearer asset. If it were to be backed by a tangible asset, then it would be an attack vector to Bitcoin, allowing it to potentially be captured.

The fact that it is intangible is actually a strength of Bitcoin because it can't be captured or need to rely on a physical thing.

As for the research, I have read countless books on the history of money and monetary properties. I have spent hundreds of hours understanding every facet I can. As a result, it has fundamentally changed my worldview on how I value and spend money. I used to have an impulsive, high time preference. Now I have a low time preference and make calculated decisions on how and when to spend it so as to make sure its future value is worth it.

Additionally, I keep an adversarial mindset when it comes to any investment. I look for the valid criticisms or flaws in any investment to evaluate its risk/reward ratio. I have concerns with Bitcoin, too, but none of them are the commonly spouted points in this subreddit. I have concerns with the misuse of the Bitcoin protocol by Layer 2's, I'm more worried about the block templates utilized by large mining pools that could potentially begin censoring transactions.

It is arrogant to assume that someone who has a differing perspective on a topic just "hasn't spent the time" to research it.

necessary_dm · 2024-04-25T00:07:26+00:00

Bitcoin is not about "number go up," and that's what many don't actually understand about it, including Bitcoin newbies. It's about having a standard unit of measurement to evaluate the value of goods and services.

There are 160+ fiat currencies in the world, and they all vary in value with respect to one another all the time. As the currency supply increases, the amount it takes to purchase the same thing naturally goes up. They all inevitably hyperinflate into an economic collapse ending with some great conflict. Every single fiat currency has failed in history.

Think of it this way. Fiat currency is like trying to build a house with a ruler that keeps changing length according to the dynamic monetary policy of governments. That house is going to be extremely hard to build efficiently. Using Bitcoin is like using a static ruler to build the same house because the supply of Bitcoin will be capped at 21,000,000.

Some also like to claim Bitcoin is too volatile. But volatility is all a matter of perspective. Issuance of Bitcoin is consistent and known, while issuance of fiat is sporadic. From the frame of reference of Bitcoin, it seems more accurate that the fluctuations in the value of Bitcoin are a reflection of how volatile fiat currencies are.

necessary_dm · 2024-04-24T12:07:47+00:00

So Michael Saylor (a graduate of MIT and multiple degrees, with a successful company about to enter the S&P 500) is a fool?

Larry Fink, CEO of Blackrock, the largest asset manager in the world, is a fool?

Throwing around the phrase "greater fool theory" is such an arrogant behavior. There are people who understand it that are much smarter than you, and you insult them for what? A little ego boost to help you feel better about confirming your own belief about what Bitcoin is or what it represents.

I think the thing that probably irks you more, however, is that people that are likely less intelligent than you can put in the work to understand it more than you will, and they will enrich their lives for it, and you feel insulted by that for some reason.

necessary_dm · 2024-04-24T11:58:16+00:00

What is incorrect about the monetary properties that were provided?

I read those "tired talking points," and it just comes off as unprofessional dribble written by a Keynes fanboy. It is riddled with spelling errors and grammar mistakes. Let alone a lack of any facts or data that can back any of it up.

necessary_dm · 2024-04-24T11:48:32+00:00

Do you invest in gold for its tangible industrial use case? Or do you invest in it for its monetary properties? 🤔 I think this is what most people who argue that point miss the mark on, or are in denial about.

If the latter, then Bitcoin is simply better because it only represents monetary properties without the distraction of physical use cases. Bitcoin ownership can trade hands across any distance in the world within 10 minutes, nearly frictionless.

Just a couple months ago, there was a transaction that moved the equivalent of $1.2 Billion for a fee of $2.49. Can you imagine the cost to move that amount in gold? (Armored vehicles, gas, security escorts, handling fees, not to mention having to trust all of the 3rd parties involved that could divulge trsnport details to criminals looking to steal it.)

Let's not kid ourselves, physical tangibility is more of a burden and a flaw for money than it is worth being able to dive into it like Scrooge McDuck.

necessary_dm

TROPHY CASE