Jimmy Song (송재준)（@madbitcions）さん / Twitter

Interesting Stuff People aren’t stupid - Sadly, it’s the elites that think the masses are dumb and that they can do much better by making choices for them. This is what has caused so much strife as...

2月13日

For free subscribers: Rethinking Nuclear Waste, First Principles analysis of Beauty, Fiat Individual Incentives and more! For paid subscribers: FediPool, Full RBF, NIP-57, Miner Lending Economics and more! #Bitcoin

Tech Talk #331

jimmysong.substack.com

Bitcoin Tech Talk #331

6,653

2月9日

You can leave securing the blockchain to proof-of-work miners who have to continuously compete. Or you can leave them to proof-of-stake rent-seekers who don't have to do very much to have the same influence and income forever. Tough choice...

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2月7日

The layoffs will continue until interest rates improve.

214

3.1万

2月7日

Listen to people that add value. Everyone else is a noisy rent-seeker.

172

1.3万

Interesting Stuff Scars are beautiful - The main idea from this essay is that scars, or imperfections and failures have value. I don’t agree with the author that it’s society’s fault that we don’t...

2月6日

Free issue for the first week of the month! Cultural Homogeneity, Nigeria and Oil, Fiat and Work, Handcrank, Layer 2.x, Petrodollar Collapse and much more! #Bitcoin

Tech Talk #330

jimmysong.substack.com

Bitcoin Tech Talk #330

7,077

2月6日

Altcoins are an unmitigated evil.

273

3.9万

2月5日

a16z acting like the Cantillionaires they are. Was that really a surprise? Let this be a lesson to you. Altcoins are controlled by people that don't give a crap about you or your wealth. They will sell out their own grandmothers if it'll make them money.

239

2.7万

2月5日

Sunday Survey: What's your view on inscriptions?

Interesting use case
14.5%
Attack on Bitcoin
23.7%
Proof of uncensorability
20%
I don't care
41.8%

1,627票最終結果

2.1万

2月4日

The "Bitcoin Moderates" are cheering the fact that the Bitcoin blockchain is getting bloated with nonsense jpegs, making it harder to run your own full, archival node. Still think these are benevolent people?

158

583

21.4万

2月3日

My nostr public key is npub10vlhsqm4qar0g42p8g3plqyktmktd8hnprew45w638xzezgja95qapsp42 Proof: programmingbitcoin.com/certificates/n

146

2.9万

2月3日

We conserve systems that are unjust (military industrial complex, fractional reserve banking, rent-seeking bureaucracy) and we change systems that have worked for thousands of years (families, free markets, sound money). We have the worst of conservatism and progressivism.

358

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2月2日

Politics will ruin anything useful with enough time. The fact that ChatGPT got ruined so fast shows how pervasive politics has become.

219

1.5万

2月2日

Luxor will be punished by the market. Just watch.

159

8万

2月1日

The reason why NY and SF have so much wealth is not due to innovation, hard work or smart people. Lies. The reason they have so much wealth is because they are near to the newly printed money. These are Cantillionaire cities, meritless whose wealth is ultimately from theft.

217

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2月1日

Unpopular Opinion: If inscriptions start bloating the chain, a decreased block size has to be on the table.

234

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2月1日

Blessed are those who recognize their own limitations and flaws, for they will find comfort only in the truly good.

8,869

Fiat Ruins Work But Bitcoin Rewards Those Who Add Value

My latest for

is about Fiat debasement of Work. Rent-seeking is eating civilization like termites, while Bitcoin is making honest work valuable again.

bitcoinmagazine.com

How have Big Tech companies laid off so many with no consequences to their operations? Because fiat incentivizes meaningless rent seeking.

117

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1月31日

Let the enemies of Bitcoin attack it. If the attack is successful, we'll find mitigations and be steeled against similar attacks in the future. If the attack fails, then it'll prove to the market that Bitcoin has a strong defense. Either way, Bitcoin improves.

280

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1月31日

Blessed are those that don't chase after mainstream respectability, for theirs is freedom from authoritarianism.

144

1万

Interesting Stuff Japan Freezing - The article is about Japan and how it hasn’t improved in 3 years. The author seems completely unaware of the monetary policy that created this mess, particularly...

1月30日

For free subscribers: Cantillon Stagnation, Argument against Axiom of Choice, Debased beliefs and much more! For paid subscribers: Case for Covenants, Channel Opening Details, Everyone Speculating, Ordinals and much more! Bitcoin Tech Talk #329

jimmysong.substack.com

Bitcoin Tech Talk #329

6,733

1月30日

Some dumb people are going to subsidize miners with lots of BTC fees and realize soon after that they could do it for a tiny fraction on their own website. In the meantime, they'll buy BTC which they won't get back. This is good for Bitcoin.

177

2.5万

1月30日

I've been informed by Bethany and her family that

@bethanyhamilton

's Twitter account has been hacked. She is not doing any sort of giveaway.

@TwitterSupport

please help.

9,853

11/ But again, the only way that can work is if there's USD expansion to offset the obvious money printing happening in other countries. Can the world handle an aggressively inflating USD?

7,545

10/ There's some reason to believe that's happening. Think about how strong the dollar was last fall and how it's *weakened* despite tight monetary policy from the Fed. These FX rates are being manipulated by central banks to keep their economies sane.

7,724

9/ More importantly, what should really worry us is that each time countries expand the money supply and keep a peg to the dollar, that means we're getting more USD inflation. The mother of all hyperinflations, the USD is slowly building.

2,344

8/ Thus, there's a back door USD inflation happening whenever there's *not* a hyper inflationary episode. It's not a coincidence that the countries that typically experience hyperinflation are the ones that have pissed off the US government in some way.

2,841

7/ Only when the US cuts off those loans and lets those countries' currencies float do they go into hyperinflation. In a sense, hyperinflation happens when there's no USD left (in assets or in loans) at the central bank to keep the peg.

2,673

6/ And it's not just USD in their vaults. Oftentimes, there are assistance programs, liquidity swaps and loans of all kinds that essentially create the dollars these countries need to keep their peg. Those all increase the amount of dollars.

2,793

5/ So when they inflate their own money and hold a peg to the dollar, they're also increasing the circulating supply of USD. Inflation in one place gets absorbed by inflation in another.

2,669

4/ When they print their own money, they increase the supply of their own currency. To keep their peg to the dollar, they sell USD that they were holding. The USD that was sitting in the central bank suddenly gets released to the public. There's now a bigger supply of USD.

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