The Dollar Endgame Is Not What You Think | Peruvian Bull

Re:other nodes and making news, you're clearly not watching Eric Voskuil on Twitter. Libbitcoin 4 just did IBD in 14 minutes on a consumer connection (with assumevalid height of 950k) and 55 min for full validation. Older than Knots, and older than Core being called, well, Core. They slept for a good few years but are waking up with a vengeance.

Thanks for removing the friction from consuming Mises.

This is sweet, thanks for covering this. Been getting excited listening to @npub1v25jqj332… talk about Stratum v2 for a while now. Nice to see it in action.

Welcome back

The cloak and dagger shit with Switck is heating up. People were already looking for a reason for this to be inside. Still not totally convinced but it looks sketchy as fuck. Never been more glad I had fun playing dice games with my bitcoin.

Boston Bitdevs is coming up on July 30 at MIT Building 4. Be sure to RSVP through bostonbitdevs.org (or with the link if David wants to put it in notes). https://app.evento.so/e/evt_3M48gmwDKdbzNc63 Come with questions!

Welcome back! Your break sounds like it was good. Missed your updates.

Your analogy is odd given that the twentyfirst amendment struck the 18th amendment from the constitution... The issue with 110 is that it was ineffective and targeting an issue that barely qualifies as one. 4 MB is 4 MB.

The point of airgapping isn't that QR'sbor SD cards are inherently more secure than USB or Bluetooth. It's that the amount of data is far more limited and easier to audit with lower tech methods. If you ask me floppy disks would be even better, as SD cards have firmware that could be an attack vector. But floppies are prohibitively hard to implement in 2026.

'Anything is safer than a coldcard' is not entirely accurate, especially if you're one of the fence cases. Malware hot wallets are having a field day. Saw one user lost 6.07 BTC on mobile 'wasabi' wallet which of course was fake.

Some of the best presentation of the issue I've encountered. Education not recommendations. The multisig evangelists are dangerous, and the guy who hosts the exchange is telling us to self custody. Man of the People @npub1cn4t4cd78… .

It turns out Leopold was NOT the biggest story of the day @npub1ahe2832lq… .

Guy with half a brain still listening reporting in 😂

So glad we finally got some weigh in here on the silliness that is 110. And yea, probably was a low blow last time I asked you about this topic on zoom Natalie...

Someone's out to capture Bitcoin all right. It's the ones who are running thebonly implementation and mining pool that supports this dumbass fork. They're just a lot more retarded than even Bcashers, with a single percent of blocks in any signalling period so far with only 2 to go. Most don't know enough about Bitcoin to realize how cooked they are though. And the ones who do are too sour to do anything about it. Have fun storming the castle.

I gotta say Rustin, I'm pretty disappointed in the portrayal of spam being about data space. That is hard capped at 4 MB/block. Being opposed to using that space is to be opposed to Bitcoin being used. Spam has other issues, sure. But the size on nodes is Simply noise.

Owning Bitcoin and buying Bitcoin are no longer counter culture. Spending it and accepting it as a merchant still are. Best part is, it makes the orange ties cry. It's a place they can't follow.

Linked identities on Nostr...interesting thought. Wonder if we can reuse some of the BIP-85 math for that. The downside to that is, BIP-85 only links to a master private key. As far as I'm aware there's no way the various xpubs can be seen to be related by anyone else. Though, I suppose if we share that master public nostr key (heck maybe it's your npub now and the agents get child keys). Worth exploration anyway.

I get they're a sponsor @npub1h8nk2346q… but the idea of a nationstate holding their bitcoin on a Bitbox is comical. They could use a few...or, they could do the much more likely thing of a much more solid system like the Glacier protocol, perhaps expanded with a variety of spending paths.

Nice to hear another measured take. Again, hats off to you Knut for your willingness to have an open and respectful forum for candid debate.

Obligatory flack for not hating Litecoin in the past. But this podcast idea thing just might work!

Tether Gold (XAUt) seems like it'd be a 100% backed money certificate for gold. Same with the pre-bitcoin e-gold systems.

https://knotslies.com/ The CSAM angle is so fucking tired. BIP110 does NOT stop people from uploading images on chain. As the picture of Luke crying in a BIP110 compliant tx clearly exhibits. Think of the children, a piece of rhetoric we've all heard before...

You can sell a stock on the date of record and get the dividend. Sales settle the next day so you hold through the end of that date of record.

The thing about saying tokenized stock, futures, etc are void is, I never expected tokenized stock to actually mean you own the stock like a shareholder does. Rather, that you have an IOU that tracks the stock!1:1 on the balance sheet of whoever tokenized it. Essentially, an exchange traded note, but on some private blockchain. Given that it's just the debt of the issuer (who one would hope has the equity to cover the market action of it and still be able to pay off your token) there's not really anything the underlying security issuer can do about the tokens. Other than what they're doing, which is clarify that THEY don't recognize shareholder rights such as proxy votes. For most people though this doesn't really change the calculus a ton, UNLESS the issuers are reckless. Given the lack of regulation so far, they probably are, so buyer beware...

https://www.ici.org/mmfs/current/16_mmf_reg_summ Money market funds do need to be short term debt instruments. No stock, no Bitcoin. My comment to my own comment (talking to myself) last time didn't make it through, so I did point out that banks CAN still make use of assets in money market funds by way of the repo market, but can't do the same with stablecoins which have to be 100% backed, based on my understanding. This seems to be the real rub -- stablecoins drain collateral from repo in much the way QE did. And if you'll recall, QE actually resulted in a fairly stagnant economy for most of the 2010's, as it doesn't mobilize those reserves it introduces unless there's a fiscal component. Stocks ran, sure, but main street lost a decade. I'll spare the book long rant but if this sparks curiosity I'd say check out some of Jeff Snider's work as it's not always intuitive how printing money at the bank can actually REDUCE broad money in circulation by removing the collateral the banks use to lend on.

It seems very strange that banks are worrying about savings accounts or that anyone takes them seriously. Money market funds took most of their lunch decades ago at this point. If anything THEY'RE the ones who should complain. Though, I guess there is still a connection. Banks borrow from money market funds in repo. Stablecoins can't play in repo based on how they're defined. It would suck liquidity out pretty heavily in that manner.

Annoyingly, Knots has merged BIP-110. So we're losing implementations for Bitcoin, as it has turned into an implementation instead for BLV. LOVE what I'm seeing from Floresta and Utreexod though as some good alternatives with a sane way to approach utxo bloat in a wat that recognizes that no matter what the utxo set HAS to be way bigger for Bitcoin to grow.

There's an irony in this episode being the one where you didn't have your mic on for the read. Appreciate the commentary anyway.