Bitcoin Tech Talk #426
Interesting Stuff
The Remnant - This is a classic article on mises.org about the job that Isaiah had as a prophet. It wasn’t to convince the majority, but to encourage the people that mattered: the remnant. The Bitcoin community has the same dynamic. There are lots of people that are pumping altcoins and destroying value, but they don’t matter. They’re the nihilists whose lack of hope is obvious. The Bitcoin maximalists, the savers are the ones that matter.
TSA and Cowardice - The article begins with a complaint about the TSA and how useless and how much of a security theater it is, which is undoubtedly true. But then the diagnosis of why it exists and what it says about our national and really, global, character is what the article is about. In short, our society has become one of cowardice, where we give into fear instead of learning to be courageous. And indeed, that cowardice is exactly why bureaucracy like the TSA grows by leaps and bounds in a fiat economy.
Ideological Conformity - Where is the Democrat Joe Rogan? The article answers this by basically saying, very literally in the past, but is impossible currently because of the ideological conformity demanded of the left. Basically, it’s impossible to be genuine or even entertaining with the ideological chains that are enforced with cancelling and bullying. The article posits that the Democratic party that was a coalition of lots of different groups has essentially become an ivory tower, elitism party. I think that’s a little harsh, but there’s definitely some truth to the accusation, and it’s for that reason that I think it’s harder for Democrats to accept Bitcoin.
Amish Fertility - Birth rates being down is a big talking point all over the world these days and this article is an attempt to explain why one particular minority within the US has such high birth rates. The author is the child of two parents that both grew up in the Amish community, so is able to provide a lot of insight. The main thing I learned is that the incentives are very well aligned in that community for having children, as births are not only celebrated, but also give the families that have them status boosts. But more importantly, the incentives for marriage are just as compelling, which drive people in that community to not just get married but married young. I find a lot of similarity in the values of this community and the Bitcoin community which also has high birth rates, though I’m not sure I can articulate it yet.
Midwit Genius - The question about what creates geniuses is a fascinating one and this article gives a useful way to think about the motivations of such people and what sort of social environments where they thrive. Suffice it to say that IQ is not the be-all and end-all, and in fact, high IQ without the requisite courage or outside-the-box thinking leads to a lot of midwits whose considerable intellect is geared toward status games rather than creating useful things. Here’s the money quote: “Most “geniuses” are idiots. Because they would rather sit atop an ash-heap made of the skulls of their betters than strap into a rocket they didn’t build, and ride it to the stars.”
What I'm up to
Austin Bitcoin Club - I was a guest at this monthly gathering to talk about the changing of the Overton Window of acceptable discourse. We talked a lot about the deficit, monetary economics, incentives around Bitcoin and even ossification. My fellow panelists had some great insight into why opinions were changing and how it ultimately ended with Trump in the White House.
Plan B El Salvador - I will be at this conference next month. It’s one of the cheapest conference tickets I’ve seen at $21 and given the recent breakthrough over $100k, it should be a fun time.
On Ocean - I wrote this piece a year ago about Ocean, the mining pool led by Luke-jr. In it, I argue that there’s sometimes value in *not* mining for maximum profitability and instead doing what’s best for node runners, users, and Bitcoin as an ecosystem. I think it’s aged pretty well, given how little traction ordinals and inscriptions have had since then.
Nostr Note of the Week
What I’m Promoting
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