Tom Honzik

bitcoin educator at unchained.com

Public Key

npub1tq7z72r2g859ucwfmr4qne8ft6v2z38c2qlqhmq098q4qpvv5m0svhxzxp

NIP-05 Address

tomh@getalby.com

NIP-57 Address

superchipmunk1@primal.net

Profile Code

nprofile1qqs9s0p09p4yr6z7v8ya36sfun54ax9pgnu9q0stas8jns2sqkx2dhcpz3mhxue69uhhyetvv9ujuerpd46hxtnfduqs6amnwvaz7tmwdaejumr0dsgj7e6l

Publishing to

relay.damus.io

nos.lol

Author Public Key

npub1tq7z72r2g859ucwfmr4qne8ft6v2z38c2qlqhmq098q4qpvv5m0svhxzxp

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Last Notes

2024-05-10 23:20:41

I didn’t know about these “portals” but I like the idea, would be cool to have more of these around the world imo
#note19ht…r3p3

2024-04-29 00:23:37

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That makes sense. Thanks Jack.
I think I’ve learned that the weird characters are produced by taking hex bytes and using UTF-8 to produce Unicode which has some really crazy stuff far down the list. And this is the standardized way of reading op returns. Interesting!

2024-04-28 21:53:16

Who has a good resource for me to learn about the gobbledygook characters found in the OP_RETURNS of most coinbase transactions?
And/or the gobbledygook characters found on the right side of the famous genesis block code display (along with “chancellor on brink..”)
I’m not even sure how best to Google this.

2024-04-27 18:34:47

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I realize I did say “sell a UTXO” but that can be interpreted and understood in different ways.
You seem to interpret it as “moving ownership of a UTXO from one person to another” while someone else might interpret it as “using the UTXO as an input to create a new UTXO”. The people playing these games don’t care about being technically precise with their language.
To the extent that the imprecise language misleads people about how bitcoin works, I’m against it.

2024-04-27 18:23:41

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A “UTXO moving” are your words not mine.
It can be obvious what input(s) led to the creation of a UTXO. If someone is sentimental about one of those inputs and it affects their behavior, that’s pretty hard to stop.
And clearly, people can come up with whatever arbitrary system they’d like (FIFO), to play games they want to play. If they understand it’s a collective hallucination that only has relevance so long as other players keep playing, then I don’t see the problem. There are many communities that invent parameters for games or collectibles that amount to “let’s agree to pretend such and such matters.”

2024-04-27 03:25:44

It appears I have two separate wallets linked to this nostr profile. One from my NIP5 with Alby and one created automatically from Primal.
Trying to decide which one to keep and how best to consolidate. Any suggestions?

2024-04-27 03:04:09

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"You can't sell a UTXO" ... "A UTXO doesn't move and neither does a satoshi." This seems like you're picking on the use of imprecise language, irrelevant to the actual phenomenon itself.
It's clear that if Alice mines a block and has a 3.125 coinbase reward, and Bob wants to own a UTXO that came from Alice's coinbase reward, they can make that happen. Alice can use her 3.125 bitcoin as an input, and deliver him an output. If Bob thinks it's cool to say "look at me, I have a UTXO that came from this coinbase transaction!" good for him. Nobody can deny the truth of the statement, either.
Now if Carol is jealous of Bob, and wants to be the owner of a UTXO traceable back to Alice's coinbase, can Bob facilitate this? Technically, yes. He can use his UTXO from his transaction with Alice as an input to a transaction with Carol.
This could continue across many people, and would be quite simple to follow, if there were only 1 input and 1 output each time. A value of 3.125 slowly deteriorating due to fees. But obviously things can get messy and confusing if multiple inputs and outputs begin to get involved.
We could say "stop being sentimental, it's dumb." Rather than listen to this advice, they've decided to use ordinal theory, to keep track of "the traceability which matters for sentimental reasons." (Lots of collector cultures set various boundaries as to what they consider valid, special, interesting.) If you believe they should be stopped, how??

2024-04-26 15:55:08

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I think people are differentiating how the seller markets what they are selling. "I'm selling an epic sat," vs "I'm auctioning a UTXO produced from the coinbase transaction of block 840,000 and you can interpret that however you want," the later should be much less controversial.
By extension, "I'm selling a UTXO that, viewed through the lens of ordinal theory, contains an 'epic' sat" or "I'm selling a bundle of sats, one of which you might consider epic" seems fine. It's factual and upfront that a certain viewpoint is required.
"I'm selling an epic sat according to ordinal theory" or "I'm selling an epic sat" seems like shorthand for the above... not nuanced, but also not necessarily malicious. I'm not sure where people are drawing the line.
I think the responsibility falls more on the buyer's side.

2024-04-26 13:35:40

It's okay to be sentimental about a notebook that says "buy bitcoin".
It's okay to be sentimental about satoshis that can be traced back to the coinbase transaction in block 840,000.
If ViaBTC was able to identify the ASIC that mined block 840,000 and auctioned it off to someone who was sentimental, that'd be okay too.

2024-04-25 01:46:41

During the ETF approval process, the Securities and Exchange Commission tasked their research department with learning the details about bitcoin. The researchers were so impressed by bitcoin's mechanisms that they decided to go against Gensler's direction, and secretly participate in the network directly. To this day the SEC mining pool retains 1% of the hashrate.
https://m.primal.net/HzdD.png

2024-04-18 13:31:40

If you thought the moon temporarily eclipsing the sun was a cool, rare event:
Keep an eye out tomorrow, when you can watch live as bitcoin permanently eclipses gold in terms of stock-to-flow ratio, officially dethroning the commodity leader for millennia.
Like the solar eclipse, we could predict this event many years in advance, because bitcoin has transparent and reliable rules which could be compared to the laws of physics.

2024-04-15 11:40:24

1 year is not always a great measure of progress towards someone’s low time preference goals.
4 year #bitcoin halving cycles can be much better.
Time to reflect: where were you last halving? Where do you want to be next halving (2028)?
What are your New Epoch Resolutions?

2024-03-31 17:31:40

It’s quite possible that at some point we see a coordinated effort by the establishment and mainstream media to convince the public that the cryptography protecting bitcoin is no longer secure or highly vulnerable.
Not because it’s true, but as a last-ditch effort to lower prices for the old guard to scoop up.
This could be one of the hardest tests for the hodlers. Only those who have learned to deeply mistrust the media, and/or have internalized the binary outcome of bitcoin vs. dystopia (willing to hold no matter what & prepared to go down with the ship), may emerge unscathed.

2024-03-22 15:26:33

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Thank you for reading, and the compliment!!

2024-03-22 13:50:41

My latest article: Seven deadly psychological hurdles to reaching bitcoin maximalism
https://tomhonzik.com/articles/seven-deadly-hurdles

2024-03-09 19:01:07

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I was one of those people, and for anyone interested in what I think about the remainder of the decade, here you go:
https://tomhonzik.com/articles/this-decade-a-trillion-dollars-will-be-unable-to-purchase-a-bitcoin

2024-03-09 18:59:44

Shoutout to all of the people that predicted ATHs before the halving, months ago when for many that was hard to imagine.

2024-03-08 00:46:20

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“Transaction fees going up forever” is different than “fees will be higher in the future permanently”.
The former is false, the later is likely true.
500k sats is unlikely to be operative dust, but it could cost a very high percentage of itself in fees to be moved.
You can read the article where that chart came from, and the math behind it, here:
https://unchained.com/blog/small-utxo-bitcoin-dust/

2024-03-08 00:40:00

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The only realistic way that fees fall in sats terms is with forks, or new tech that uses blockspace more efficiently

2024-03-08 00:38:34

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If the size is the same and the fee rate is the same, then the sats cost must also be the same.
The only way for the sats cost to decline, is if the fee rates decline (most people are expecting the opposite) or forks that create new efficient methods of using blockspace (SegWit, Taproot)

2024-03-07 19:47:30

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Didn't have to do that, but thanks! Appreciate sharing the info as well.

2024-03-07 19:38:15

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https://unchained.com/blog/small-utxo-bitcoin-dust/

2024-03-07 19:36:50

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Unchained, not River
https://unchained.com/blog/small-utxo-bitcoin-dust/

2024-03-07 19:36:22

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I created this chart, it's on the Unchained blog, not River.
https://unchained.com/blog/small-utxo-bitcoin-dust/

2024-03-06 11:26:01

Wow the bitcoin price recovery over night is the most surprising price action I’ve seen in a long while. Really fascinating

2024-02-06 12:31:22

Who is Satoshi Nakamoto? A reflection on Atlas Shrugged
https://tomhonzik.com/articles/atlas

2024-01-26 01:07:22

Ok, I’d support CTV.

2023-12-31 15:40:52

Can someone help me understand why they think it's a good idea to soft fork bitcoin every few years, introducing cool new tech but also the risk of unintended consequences (or consequences intended only by bad actors)?
Doesn't seem worth it to me. What are we on pace for, 25+ soft forks over the next century? Does that sound like a good idea? What could go wrong?

2023-12-18 00:59:45

I'm guessing it's easier to convince several countries to officially adopt bitcoin together at once, than it is to convince one country to join in at a time.
What if @npub1jan…x52y is not just named that way because of the genesis block date, but also as a way of publicly reaching consensus among countries interested in adopting bitcoin?
"Don't try to delay it or sit on the fence, the game plan is January 3rd, participate or don't."
Just a conspiracy theory to get extra bullish in the last few weeks of the year ;)

2023-12-16 18:29:15

To help protect yourself from high #bitcoin txn fees on a relative basis, a common recommendation is to deposit to your wallet in 1M+ sat increments (for legacy wallets and script multisig wallets, the number should be higher).
Ordinals and non-economic transactions change the math.
The assumption was, that as fee rates rise, smaller UTXOs would be priced out of being spent, because it would make no economic sense (they would approach “operative dust”).
This creates an equilibrium effect, where fee rates can’t go beyond a certain level for a sustained period of time. Blockspace is scarce, but so is bitcoin itself, and large value UTXOs even more so.
However, if people find value in paying higher fees to move a UTXO than what it’s actually worth, such as for inscription trading and similar things, the earlier assumption is incorrect.
This means fee rates could go “higher for longer” than what some people were anticipating. 1M sat UTXOs could be insufficient for the fee protection you’re looking for.
What’s the right number, then? It depends on an individual’s preferences and predictions, but in the linked article, I provide the math to help you calculate it.
unchained.com/blog/small-utx…
If people begin to need to make wallet deposits of, say, 2M+ sats to protect themselves from fees, that’s already $800+ per deposit. If the price of bitcoin goes above $100k, we could be talking thousands of dollars to simply make a reasonably sized deposit to on-chain self custody.
This consideration exists regardless of non-economic transactions, but they certainly speed up the relevancy.
We may be approaching a point where even most middle class people in the western world become priced out of using bitcoin on-chain. This was expected to happen but I’m not sure people are expecting it as soon as it could happen (next bull cycle?).
Do we currently have 2nd layer tools to use bitcoin off-chain, that provide adequate UX, trust minimization, and security?

2023-12-02 03:04:37

Damus vs Primal apps hmmm
Primal looking and loading cleaner so far. Button to make a post keeps disappearing tho

2023-12-01 14:38:47

Anyone interested in helping to critique my latest article? I explain my view that “this decade, a trillion dollars will be unable to buy a bitcoin”
https://tomhonzik.com/articles/this-decade-a-trillion-dollars-will-be-unable-to-purchase-a-bitcoin

2023-11-26 14:31:35

What if AI is overhyped by sovereign states to give them an excuse to build larger data centers that are actually not going to be used fro AI, but for mining bitcoin?

2023-10-21 01:59:55

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Yeah. Need a good way to query my node or someone else’s for this information

2023-10-21 00:42:21

I’m getting desperate to find a resource that will allow me to filter the entire UTXO set by value and date.
The closest thing I’ve found is Blockchair, which I’ve identified as shitty and inaccurate.
I’m really surprised there seems to be nobody charting this or making it available in block explorers.
Does anyone have any leads????

2023-10-18 01:13:11

“TL;DR” followed by a lengthy explanation.
The same people who destroyed the word “literally” seem to be coming for this one next.
I do think bitcoin fixes this, though.

2023-10-17 11:15:24

I hear it a lot, “I don’t look at the price” of bitcoin, “I don’t care about the price.”
I appreciate the spirit of buying bitcoin at any price.
However, the price is INCREDIBLY interesting! It’s literally the scoreboard for an epic battle between good and evil, a new monetary system steadily overthrowing the old. It tells a story. So yes, I check the price, and I enjoy doing so.
Also, people who say they “don’t think in fiat terms,” or “bitcoin is my unit of account.”
Really? Again, I appreciate the spirit. But fiat is THE unit of account for pricing goods and services at pretty much all places of business. I highly doubt you convert the fiat prices to BTC for everything you see at the grocery store. If you do, based. But I think most people are thinking about the $ price of the product, and perhaps comparing that to the $ price of bitcoin, when they are making their decision to buy something.
I don’t think it’s helpful to make a claim that is false or irrational when advocating for bitcoin. It will draw scrutiny and suspicion. Instead, we can be more precise with our language:
“Converting fiat to bitcoin will always be an upgrade for long-term savings, at any price.”
“Volatility doesn’t bother me or affect my long-term outlook on bitcoin.”
“I consider the opportunity cost of buying bitcoin when deciding whether or not to buy other things.”

2023-10-14 12:52:33

How long will it take for bitcoin to become the dominant monetary system, AKA hyperbitcoinization?
I’ve heard some bitcoiners say that the realistic time frame might be 20 years from now or more.
Here’s why I think they’re wrong, and we see it happen before 2030:
1) Evidence points to strong probability that there will be at least 2 more bull cycles before 2030, whether it is caused by the next two halvings or something else.
2) I believe that each bull market causes the population of bitcoin adopters to increase at an exponential rate. More touch points, more word of mouth, more education, more reason to believe bitcoin is not going away. If this is correct, then I believe after only 2 more bull cycles, the majority of the world will be bitcoin adopters—game over.
3) As bitcoin in the next bull cycles becomes worth hundreds of thousands of USD, I think it becomes more and more clear to people that $1M per coin is possible, which psychologically will be a huge deal (breaking cognitive dissonance, “OMG this thing really does go up forever”)
4) It’s true that much of the world’s population is not ready to adopt bitcoin, which is a main argument for people who think the process will take decades. But… most people don’t matter in terms of hyperbitcoinization. Once we get large corporations and governments fighting over the bitcoin supply, it’s game over. Everyone else will be forced into bitcoin whether they like it or not. And do we really think we won’t see see institutions fighting over BTC before 2030, with one or two more bull cycles? The infrastructure is increasingly being built to accommodate this.
5) The debt spiral across the globe is real, and needs to be dealt with. Money will be printed, inflation will get worse, and people will increasingly need alternatives to protect themselves. I see it as quite unlikely that fiat only gets marginally worse before 2030.
6) Things being built with bitcoin continue to increase, widening its use cases and providing even more avenues for adoption.
We’ve heard “gradually then suddenly,” and I think the final “suddenly” that ends fiat will be either this coming bull cycle, or the following one at the latest. I don’t see how there could be room for a third bull cycle from here. I’m even skeptical about there being room for two… it’s possible that hyperbitcoinization occurs in just the next 1-2 years, which sounds crazy enough that it would even catch most bitcoiners off guard.
If you disagree, let me know why you think I’m wrong!

2023-10-12 01:08:29

Anyone else ever get two small yolks from the same egg? Can I claim a prize somewhere?

2023-10-07 12:10:30

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@npub1u8k…a2jn

2023-09-29 13:04:49

“RayBan Meta SmartGlasses” is one of the most fiat product names I’ve ever heard

2023-09-17 13:20:19

Uranium prices are the highest they’ve been since 2011, when it was going parabolic right before the Fukushima disaster.
One disaster changed the public opinion and price trajectory of Uranium for over 12 years, at a particularly opportune time. Might cause someone to question whether there is a hidden story behind Fukushima.
If another nuclear accident happens in the near future… it would raise more questions.

2023-09-15 13:13:12

Tucker Carlson interviewing Javier Milei is a massive L for statists everywhere

2023-09-08 12:40:26

It’s amazing how many socialists and central planning advocates are out there who have no idea that’s what they are.

2023-09-01 21:46:41

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Ray Ban got bought out by Luxotica, the most fiat of glasses manufacturers

2023-08-31 22:31:52

Hard NO to all bitcoin forks no matter how seemingly harmless, until the ETF is approved, might be a nightmare for the State.

2023-08-31 22:17:25

What’s been going on recently looks a lot like the USG buying time until they are inevitably forced to publicly legitimize/endorse bitcoin.
And in the meantime, there’s impatient, desperate attempts to make progressive changes to bitcoin.

2023-08-16 16:31:41

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about?

2023-08-14 01:02:31

I have never once paid for a meal to be delivered to me. Doordash, Uber eats etc. Even pizza.
Seems lazy and expensive. Put in the proof of work to go get your meal and stack sats with your savings

2023-08-13 13:04:57

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Nice post Lyn. I was born in the mid 90s, with parents born around 1950, in the “melting pot” of cultures in the Bay Area of California. Could relate to some things you said.
I agree that growing up, it was natural to treat skin color like hair color, something that didn’t particularly matter. I believe this should be normal, and it is the farthest state from racism.
The modern left has made this ideal much more challenging to achieve. Whether organically or by influence from a foreign adversary, I do not know.

2023-08-12 18:56:05

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TLDR is that it will make your future fee situation worse

2023-08-12 18:54:13

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The article pertaining to small UTXOs is actually this one:
https://unchained.com/blog/small-utxo-bitcoin-dust/

2023-08-09 18:36:37

1. You care about yourself and your family, so you decide to work, earn, and save for a better future.
2. You watch the money in your bank account increase, but realize that each unit is becoming less valuable over time, because it's being diluted by other people printing more of it.
3. The work you've performed in the past is constantly worth less, which sucks. You decide to "put your money to work" by investing it.
4. The most guaranteed return on investment, U.S. treasuries (bonds etc), do not outpace inflation, and don't really solve your problem. In search of higher returns, you add a little bit of additional investment risk.
5. You put your money into a brokerage and buy stocks. Since you have a life and other work to do, you don't have the time to do the proper research on individual companies or keep up with all the relevant news. You hire others to do this for you.
6. You discover those people are taking more in fees than they are giving back to you by outperforming the market, and you would have been better off just putting your money into an index fund like an S&P 500 ETF, so you do that instead.
7. There is an economic downturn and your investments lose value at the exact same time when you need your money the most. The investment risk you took has come back to bite you.
8. There's got to be a better way. You learn about gold, which has been a fairly stable savings mechanism for thousands of years, and nobody can easily print more of it. Very attractive.
9. But you also learn that gold still has an inflation rate (which can change), and most "gold" on the market is really "paper gold." This artificially increases the supply and opens it up for price manipulation, something that is hard to fix without people taking self-custody of their gold, a substantial inconvenience especially in the digital age.
10. You learn about bitcoin, which has a set supply limit and issuance schedule, and isn't controlled by a central person or group. The supply is highly predictable and can be audited by your laptop. It also doesn't have gold's inconveniences of physical storage and lack of portability for exchange. This allows people to take self custody much easier, and all of this put together means there is less of an opportunity for sustainable abuse of "paper bitcoin."
11. Venture capitalists with questionable morality hire marketers to convince you that bitcoin is old and slow compared to their newer, shinier crypto coin. You buy into it.
12. The predatory VCs dump the bulk of the coins they had created out of thin air, rug-pulling you for substantial losses. They claimed it was decentralized, but that clearly wasn't true. Maybe you should have just stuck with your traditional money in a bank account.
13. But no, that's not good enough. You push on, and decide to learn what actually creates decentralization for a cryptocurrency so you might be able to separate legitimacy from scams. You find that the origins matter, the node participants matter, the ease with which you can run a node yourself matters, and proof of work matters. You conclude that bitcoin is far and away the most decentralized digital commodity, something that would be difficult to ever change in the favor of a different altcoin.
14. You return to bitcoin with excitement, now that you have separated the signal from the noise. You understand it is a powerful long-term savings mechanism, despite short-term volatility.
15. But how do your keep your bitcoin secure? You are wise enough to know that you shouldn't keep it in someone else's custody, such as the exchange where you bought it, or some service that promises you yield. FTX, Celsius, Blockfi, and many other examples demonstrate that is a bad idea.
16. The only alternative is self-custody. Not your keys, not your coins. You research how to hold a bitcoin key, and find that hardware wallets are the best tool to make sure your key is generated securely and is kept offline, so that nobody can remotely hack your computer and steal your bitcoin.
17. You set this up, but now have a physical item to keep track of. You become apprehensive about losing your bitcoin key, and with it, access to your bitcoin. It's a lot of responsibility.
18. You could create copies of it and store them in several places, but then you increase the risk of a thief finding one of the copies. You could add passphrases or other encoding to your bitcoin key to make theft difficult, but now you've introduced complexities that could increase the chances of losing access to the bitcoin yourself.
19. You learn that something called multisig (multiple locks protecting your bitcoin and multiple keys stored separately) can solve for both problems. It allows you to remove all single points of failure and minimize risk of theft as well as losing access to your bitcoin.
20. But all of this seems so new, technical, and overwhelming. You aren't sure if you will be able to set this up correctly, and use it without making mistakes. You are discouraged, and thinking of back-tracking to one of the options discussed earlier, and accepting the tradeoffs.
21. On second thought: no, you are stronger and more resilient than that. You shouldn't have to settle for something less than the best for your wealth. Your work. Your future. Perhaps there are services out there that can help you setup and operate multisig correctly, and with confidence.
22. You find Unchained.com, a bitcoin-native financial services company that provides education and support for multisig. You hold the controlling keys to your bitcoin, so are not subject to custodial risk. If something bad happens to Unchained, you can use your keys recover your bitcoin outside of the platform.
23. You arrange a free consultation and ask questions about the details. You decide to move forward and schedule a concierge onboarding, where you get as many 1-on-1 calls as you need, with a professional such as
myself.
24. Everything is set up so smoothly, and provides you with such confidence, that you would feel comfortable recommending the service to your less technical parents.
25. Up to this point, you've been stuck in a perpetual journey to find the solution to save for your future, safely and effectively. By now, you're practically used to the never-ending search, and the stress that comes with it. So what's the next problem you have to deal with? You think for a while. None come to mind.
26. You are finally free to return your attention to the people and things that you love.

2023-07-29 12:17:39

Elon’s obsession with the letter X is really stupid

2023-07-23 04:37:14

How difficult would it be to make a realistic AI persona do the “mmm ice cream so good” stuff to farm a passive income off the morons that pay for that stuff?

2023-07-19 15:16:55

With the government pushing so much extraterrestrial narrative stuff recently, I wonder if we are on a timeline where in a couple years we see MSM claiming that “bitcoin (and other freedom tech) is an alien psyop brainwashing people, and you must be protected from it” in a desperate attempt to buy time for the statists. Nothing is too surprising anymore.

2023-07-15 01:23:47

running MutinyWallet

2023-07-14 17:41:04

the "for you" tab of twitter is every bit as dangerous and repulsive as the global messages on nostr

2023-07-11 12:42:51

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A cheap, practical vehicle should easily become the most popular car in America, especially with the budget of the middle class deteriorating so much.

2023-07-11 12:40:04

Why hasn’t a car company tried to manufacture a car with the bare minimum features (seats, wheels, steering, A/C, etc) and none of the fancy spaceship Bluetooth controls, and then sell it for a much lower price than all competitors?
Currently the only way to get something simple, affordable and easily fixable is to buy an old used vehicle. It seems like a car company could easy corner the market on new, low cost automobiles. Yet none of them have, for years on end. Why?

2023-07-07 03:26:51

Why do I only see posts from like 3 or 4 of the people I’m following in my Damus feed? Seems to work fine in other interfaces like Primal

2023-07-03 14:57:46

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not yet

2023-07-03 14:52:52

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That sounds like a method of Marxist redistribution. Are you sure it would be great, or describe a perfect world?
I think most people I talk to (including this woman) do not hold the belief that wealth inequality is inherently bad.
The only environment without wealth inequality would be one with wealth equality, and it's easy for most people to see the implications of why that would be a far worse situation.
Therefore, I think most of the people that are "bothered by wealth inequality" are actually bothered by the association of wealth inequality with a system where the rich get richer and the poor get poorer in perpetuity. Basically, PoS or the fiat system.
It's hard for them to imagine a situation where the rich do not become richer simply because they are rich to begin with, because that's the system they've always lived in.

2023-07-03 13:43:45

Yesterday I had a conversation with a precoiner who was concerned that the bitcoin supply was too concentrated in the hands of a few people.
I explained that there is a trend toward distribution, but I think I should have asked her why the concentration bothered her in the first place.
If one person has a large portion of the bitcoin supply, they only have two main options:
-Lower their portion, by distributing the coins to others
-Keep holding, in which case the supply for everyone else is further restricted (it’s similar to if the coins were lost)
Maybe the concentration concern comes from a fiat/PoS mindset, that those with the most money can use their wealth to perpetually generate more money for themselves.
With PoW and a supply limit, this is no longer the case. To get more money, someone has to do work and provide value.
Perhaps it isn’t wealth inequality itself that bothers people, as much as it is the corrupted system surrounding it. And people have a hard time disassociating the two, because of the system we live in.

2023-07-01 23:17:22

Verifying my Nostr Nests identity: kT5oZJ45DmbRa0kt0Dzr7rhM5tioZTO_MGDwjnTUT8M
https://nostrnests.com

2023-07-01 23:14:45

restarting an effort to use nostr more, rather than twitter.
phil ban was tough. now a bunch of visual restrictions. smh

2023-07-01 22:53:35

finally got around to NIP05 verification today. that was easy.

2023-06-23 14:28:05

Hmm, primal.net does seem pretty fast. Optimistic this will help me use Nostr more.

2023-03-15 16:58:07

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it will be irresistable for others to follow the model!

2023-03-15 15:40:13

It surprises me, the number of people who seem to think that the State going after bitcoin is to defend retail investors, rather than to defend the State itself.

2023-02-21 16:27:49

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2012 not 2016, typo

2023-02-21 16:27:04

Does anyone have a blockchain search query that can help me find the first-ever P2SH transaction? BIP 16 (post March 2016) not BIP 13. I can't find this information anywhere! I think it occurred around April 7 or 8 but that's the best I got....

2023-02-16 03:47:21

test

2023-02-16 03:44:30

another one