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ID: CdP9EoiR/biz/60633076#60634966
7/16/2025, 4:43:18 AM
>>60634628
Without Trusted Third Parties is what Trustless has always meant, dumdum. This is infosec terminology that existed decades before Bitcoin. BTC is a trustless distributed ledger, a distributed ledger without a TTP. Again, devs nor blackrock nor the US gov have privileged access to the network. Trustless. Permissionless.
>why don’t they publish their addresses?
Maybe they worry about leaking information from internal movements? More importantly, who gives a fuck? Don’t keep BTC on exchanges, don’t buy custodial BTC equities or funds, problem solved. Rehypothecation isn’t a bitcoin problem, it’s a custodial asset problem.
>we can transact 1 satoshi just the same as 1 bitcoin
Anon, please tell me you aren’t actually THIS stupid, the value is not in transferring an arbitrarily small amount of BTC, the value is in having a trustless means of economic accounting, the amounts matter.
>>60634682
>confiscate cold wallets
Dull.
Without Trusted Third Parties is what Trustless has always meant, dumdum. This is infosec terminology that existed decades before Bitcoin. BTC is a trustless distributed ledger, a distributed ledger without a TTP. Again, devs nor blackrock nor the US gov have privileged access to the network. Trustless. Permissionless.
>why don’t they publish their addresses?
Maybe they worry about leaking information from internal movements? More importantly, who gives a fuck? Don’t keep BTC on exchanges, don’t buy custodial BTC equities or funds, problem solved. Rehypothecation isn’t a bitcoin problem, it’s a custodial asset problem.
>we can transact 1 satoshi just the same as 1 bitcoin
Anon, please tell me you aren’t actually THIS stupid, the value is not in transferring an arbitrarily small amount of BTC, the value is in having a trustless means of economic accounting, the amounts matter.
>>60634682
>confiscate cold wallets
Dull.
ID: G8t/qPQh/biz/60585223#60585759
7/6/2025, 12:49:04 AM
>>60585694
False. Belief not needed.
Economic units have demand not because of belief, but because their supply properties allow demand to alter price primarily instead of supply, enabling economically useful functionality such as Store of Value and other economic abstractions. This is why grain et al, despite having great “intrinsic value” and near-universal acceptance performs poorly as an economic unit, grain has huge elastic supply so increasing demand results in increased supply, instead of increased price, preventing the encoding of economic state information into the price of grain and therefore preventing the use of grain et al as an economic unit.
Gold has been used as an economic unit since antiquity because its low elastic supply render it a fine natural approximation of a unit, but it still possesses elastic supply, bitcoin surpasses gold primarily by possessing perfect inelastic supply, while network effects keep BTC ahead of newer imitations as they fail to improve on the systemically important properties of bitcoin. Likewise, BTC surpasses equities & debt instruments in supply dynamics and in the lack of trusted third parties, and surpasses land in fungibility, transportability, homogeneity, AND in the lack trusted third parties (while land could be thought of as trustless, land ownership is entirely trust-based).
False. Belief not needed.
Economic units have demand not because of belief, but because their supply properties allow demand to alter price primarily instead of supply, enabling economically useful functionality such as Store of Value and other economic abstractions. This is why grain et al, despite having great “intrinsic value” and near-universal acceptance performs poorly as an economic unit, grain has huge elastic supply so increasing demand results in increased supply, instead of increased price, preventing the encoding of economic state information into the price of grain and therefore preventing the use of grain et al as an economic unit.
Gold has been used as an economic unit since antiquity because its low elastic supply render it a fine natural approximation of a unit, but it still possesses elastic supply, bitcoin surpasses gold primarily by possessing perfect inelastic supply, while network effects keep BTC ahead of newer imitations as they fail to improve on the systemically important properties of bitcoin. Likewise, BTC surpasses equities & debt instruments in supply dynamics and in the lack of trusted third parties, and surpasses land in fungibility, transportability, homogeneity, AND in the lack trusted third parties (while land could be thought of as trustless, land ownership is entirely trust-based).
ID: W5VtkG+2/biz/60547889#60552872
6/27/2025, 3:58:23 AM
>>60552232
Why would Medium of Exchange have value? There is no term risk in MoE, further, there is no net demand for MoE! It’s transactional after all, other than some liquidity requirements no one actually holds or wants fiat, the wagie may be paid in it, but only the dullest little wagies actually SAVE (and therein generate net demand) in it, for those with at least ambient temperature IQs, even when you hold “cash” you aren’t actually holding fiat, you (or the financial institution you use) are holding tbills or shares in a money market fund etc. The very fact that we can use hot garbage like fiat as MoE should have clued you into the fact the MoE is trivial, and therefore of no value.
Bitcoin does something that could not be done before bitcoin: produce a trustless perfectly inelastic supply unit, a trustless transparent intangible tally board, literally something We’ve wanted for all time. That is the breakthrough, before we did not have the means to create a true economic unit, now we do, and that unit will continue to grow as network effect is a positive feedback loop.
Why would Medium of Exchange have value? There is no term risk in MoE, further, there is no net demand for MoE! It’s transactional after all, other than some liquidity requirements no one actually holds or wants fiat, the wagie may be paid in it, but only the dullest little wagies actually SAVE (and therein generate net demand) in it, for those with at least ambient temperature IQs, even when you hold “cash” you aren’t actually holding fiat, you (or the financial institution you use) are holding tbills or shares in a money market fund etc. The very fact that we can use hot garbage like fiat as MoE should have clued you into the fact the MoE is trivial, and therefore of no value.
Bitcoin does something that could not be done before bitcoin: produce a trustless perfectly inelastic supply unit, a trustless transparent intangible tally board, literally something We’ve wanted for all time. That is the breakthrough, before we did not have the means to create a true economic unit, now we do, and that unit will continue to grow as network effect is a positive feedback loop.
ID: gFSom/ja/biz/60484150#60486208
6/10/2025, 8:47:33 PM
>>60484166
Dull.
Bitcoin has no purpose, it is a new thing, a trustless intangible ledger, and can be used for new things.
We can use btc for at least two priceless functions:
1) We can encode the price of money into btc via aggregate demand for “economic unit”, in doing so creating a Trustless Price Signal of Money, i.e. THE economic reference point. This massively increases the efficiency of economic calculation.
2) Trustless intangible Store of Value: Physical goods require active force simply to maintain ownership, trust-based assets require trusted third parties to operate them. Storing abstract economic value in either enables negative sum actors to parasite as NSAs can specialize exclusively in force. With a trustless intangible SoV we can guarantee voluntary exchange in-the-limit as btc can be made prohibitively expensive to seize (multi-sig, Shamir backup) and is infinitely more resistant to seizure by default
Dull.
Bitcoin has no purpose, it is a new thing, a trustless intangible ledger, and can be used for new things.
We can use btc for at least two priceless functions:
1) We can encode the price of money into btc via aggregate demand for “economic unit”, in doing so creating a Trustless Price Signal of Money, i.e. THE economic reference point. This massively increases the efficiency of economic calculation.
2) Trustless intangible Store of Value: Physical goods require active force simply to maintain ownership, trust-based assets require trusted third parties to operate them. Storing abstract economic value in either enables negative sum actors to parasite as NSAs can specialize exclusively in force. With a trustless intangible SoV we can guarantee voluntary exchange in-the-limit as btc can be made prohibitively expensive to seize (multi-sig, Shamir backup) and is infinitely more resistant to seizure by default
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