What I learned from yesterday is that game theory doesn't work without prices to help all the actors assess the risk.
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jimmysong
Bitcoin Expert Open-Source Coder Follow me to learn #BTC Author of 5 Bitcoin books PGP: DE9A 9438 F8B0 89DD AD17 82A3 99D0 75B8 9511 8988
npub
npub10vlhsqm4qar0g42p8g3plqyktmktd8hnprew45w638xzezgja95qapsp42pubkey (hex)
7b3f7803750746f455413a221f80965eecb69ef308f2ead1da89cc2c8912e968nprofile
nprofile1qqs8k0mcqd6sw3h524qn5gslszt9am9knmes3uh268dgnnpv3yfwj6qprf58garswvaz7tmjv4kxz7fwva6kcat8w4k82tnddajs5xkf8uNIP-05
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https://jimmysong.orgActivity (13)
Generating true entropy is really, really painful. Rolling dice 100 times, or flipping coins 256 times is not easy. It also doesn't help that most peo...
Generating true entropy is really, really painful. Rolling dice 100 times, or flipping coins 256 times is not easy. It also doesn't help that most people have the attention span of insects.
I've argued in the past that the easiest entropy is very thoroughly shuffling a deck of cards and using the first 40 or so cards. I actually coded this feature into Armory back in the day. The problem with that one is it's not so easy to convert those cards to a seed phrase, at least without some hardware device. Still, it's better than the hardware generating the seed phrase on your behalf.
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I honestly wonder how exchanges will handle things come BIP110. I suspect most of them will do nothing, but there's a non-zero chance of some serious ...
I honestly wonder how exchanges will handle things come BIP110. I suspect most of them will do nothing, but there's a non-zero chance of some serious headaches in that case.
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Here's a pathological scenario: Let's call the BIP110 enforcing chain Coin A and the non-enforcing chain, which very well may be longer, Coin B The ...
Here's a pathological scenario:
Let's call the BIP110 enforcing chain Coin A and the non-enforcing chain, which very well may be longer, Coin B
The two chains split. Coin A trades at 100:1 Coin B. Miner buys 1000 Coin A for 10 Coin B and then starts mining on the BIP110-enforcing chain afterwards. Coin B chain get wiped out when enough miners do this and the BIP110-enforcing chain gets longer than the non-enforcing chain. Not only did the miner gain 1000 BTC on the now single chain, the 10 BTC that was spent is returned because it's no longer a valid tx on the now-single chain!
Game-theory wise, this is extremely profitable, depending on the price ratio. For me, this will be a test of how optimized for game theory miners are.
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I tell founders that preparing for success is much harder than preparing for failure, because most people think that success will be easy. It isn't. T...
I tell founders that preparing for success is much harder than preparing for failure, because most people think that success will be easy. It isn't. The more resources you have, the more choices you have to make and the more such choices matter. And those choices have to be made wisely.
An abundant future is at hand. The question is, are you prepared for it?
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↳ Reply cedab81b... (npub1emdtsxly9m68m00x206t574jttp65vk0c2m89ms038q047yz7ylqcac9aw)
I recently got to catch up with a friend of 20 years. Back in 2013 I gave him some bitcoin, and out ...
Love stories like this. Understand that Bitcoin is savings and Family is the investment. nostr:nevent1qvzqqqqqqypzpnk6hqd7gth50k77v5l5hfatykkr4gevls4...
Love stories like this. Understand that Bitcoin is savings and Family is the investment.
nostr:nevent1qvzqqqqqqypzpnk6hqd7gth50k77v5l5hfatykkr4gevls4kwthqlzwqltug9uf7qyfhwumn8ghj7mmxve3ksctfdch8qatz9uq3zamnwvaz7tmwdaehgu3wwa5kuef0qqsvyzy7m76r5dur9c34fth2r0vtg0zlv6pwqvdjrvk4dunq869x6yg5c8g47
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I wrote on why the neutral position on BIP110 is the right one: https://primal.net/jimmysong/on-overconfidence
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Ever since I stopped paying for X my engagements are down 90%. X is holding my audience hostage to extort me if I want to reach them. Such is the ine...
Ever since I stopped paying for X my engagements are down 90%. X is holding my audience hostage to extort me if I want to reach them.
Such is the inevitable result of closed platforms.
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Exposure to Bitcoin is not Bitcoin because one is centralized the other is not.
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I can't decide whether the world is run by malicious or incompetent fools.
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I swear the plan for the normie is "Load up on debt and die before you have to pay it off."
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Shill me goods and services that you love that you can't get with fiat money.
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↳ Reply walker (npub1cj8znuztfqkvq89pl8hceph0svvvqk0qay6nydgk9uyq7fhpfsgsqwrz4u)
New ep of nostr:npub10qrssqjsydd38j8mv7h27dq0ynpns3djgu88mhr7cr2qcqrgyezspkxqj8 with nostr:npub10vlh...
Is it me or does AI suck with Asian faces?
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