#bitcoin. Co-founder @LookingGlassEDU Co-Author of B is for Bitcoin
Australia
Joined February 2020
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I was asked by some friends recently why I thought bitcoin was the only undervalued asset left. The answer while long and complex can be broken down by understanding the fundamentals behind how everything is valued. That is from the treasury bond market and the risk free rate 1/
Spent the usual 1.5hrs mowing thinking primarily about how other people go about mowing their lawns.
For me, I’m a go right round the edges 2-3times. Leave rectangles wherever possible and go up and down. At least that’s the intent then the adhd kicks…
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Ever wondered how bitcoin really works?
We break it down here and I share some of the technical aspects behind blockchain, cryptography, private and public key pairs and what’s in the engine room of this phenomenal technology.
youtu.be/0Mp06PxHNTQ?si=cPV9…
Hope you got some #Bitcoin
And yes, this can (and does) happen in your neck of the woods
🇵🇾 Paraguay’s Ueno Bank has been shut down after regulators discovered its capital had fallen below half the legal minimum.
Nearly 3 million customers affected.
Hundreds of millions in public funds, including pension money, exposed.
Now watch how the losses are distributed.
They can socialise the losses through deposit insurance, a taxpayer-funded bailout, or a bail-in imposed on creditors and uninsured depositors.
Then transfer the viable assets and customer deposits to a larger bank.
The losses can be absorbed by depositors, creditors, insurance funds or taxpayers.
The surviving Financial Industrial Complex (FIC) players can acquire the assets and customers.
Socialise the losses.
Privatise the gains.
Consolidate the banking system.
Wash.
Rinse.
Repeat.
Remember.
When you deposit money in a bank, you generally become an unsecured creditor of that bank.
You have effectively lent the bank your money.
The bank becomes the legal owner of those funds.
In return, you hold an IOU, a legal claim against the bank, protected only to the extent applicable deposit guarantees and recovery rights allow.
Your bank balance is the bank’s liability.
Not your money sitting in a vault.
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Just heard Canva are letting go 1270 jobs.
AI is a massive disruptor…
This is only the beginning…
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Daz ₿ retweeted
the rba is raising fucking interest rates as we approach the ai singularity.
bunch of kunst
today they raised their cash rate to 4.85%. rate settings at two decimal points of absurdity.
they cite the middle east oil shock and, astonishingly, the inflationary effects of ai investment.
yep. ai. the same technology that might be about to make vast quantities of human labour economically redundant.
and they're worried about the price of computers. i'm worried about the price of human beings.
think about the sequence. first comes the extraordinary spending on data centres. shortages of chips. rising electricity demand. inflation.
but what happens when the machines start doing the work?
what happens to wages when employers discover they need fewer people? what happens to consumption when the mortgage is still there but the salary isn't?
that's the deflationary carnage i'm trying to imagine.
and the grey suits in australia are staring at today's inflation print and raising the price of time.
to be fair, they've got an argument. domestic capacity is tighter than they thought and inflation expectations have risen. i understand that.
but house prices are already falling. unemployment is rising. three of the nine board members wanted to hold.
and now they're tightening into what could become the greatest labour-displacing technological revolution in human history.
perhaps ai delivers a productivity miracle without the unemployment catastrophe. i'd love that.
but imagine the alternative.
a country drowning in household debt discovers that the value of human labour is falling just as the central bank makes servicing that debt more expensive.
they're fighting the inflationary cost of building the machines.
i'm terrified of what happens when they switch them on.
🌴🏴☠️
🤖 Made with AI
“The climate should be repeatable and follow trends….. it should follow my model”
Also:
We were taught that Earth orbits the Sun in a closed circle. In reality, Earth has never returned to the same point in space once in 4.5 billion years.
Right now, the Sun is carrying Earth and every planet around the center of the Milky Way at 230 km/s (828,000 km/h), more than 18,000 kilometers every 80 seconds.
Because the Solar System is tilted 60.2° to the galactic plane and bobs up and down through the galactic disc roughly every 30 million years, the planets trace open 3D corkscrew helices across deep space rather than flat loops.
The last time the Sun stood where it stands today, one Galactic Year (230 million years) ago, the very first dinosaurs were only beginning to appear on Earth. Since forming 4.6 billion years ago, our Sun has completed only 20 laps.
You can have your cake and eat it too…
Wicked is right about the problem, but not the conclusion.
Expecting families to manage complex multisig arrangements themselves is unrealistic. But that’s an argument for collaborative security, not against multisig.
Independent keyholders, no single point of failure, documented inheritance and rehearsed recovery.
Your family shouldn’t need to become Bitcoin security experts to inherit your Bitcoin.
The goal isn’t simply to secure your Bitcoin for your lifetime. It’s to make sure it survives you.
thebitcoinadviser.com/collab…
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Daz ₿ retweeted
🇦🇺 Australia has the worlds most expensive passport $422. Strewth crikey dingo mate. 🪃 🍺
