Despite much opinion to the contrary, the government money we use is crappy.
I'm at bitfest in Manchester to find out if Bitcoin could be a better money.
It could hardly be worse.
The mood is still good, people are joking about recent devaluation rather than crying. Those who aren't all in are trying to buy more at the discount.
After an introduction by Mad Bitcoins, Joe Bryan explains the problem with government money.
He imagines an island on which two types of money are tried, with a dividing wall between them.
When economic problems hit, government can just print more money on the fiat side. Everyone now using money which is worth less. Distorting prices, inflating asset prices, making the rich (who hold assets) richer and the poor (who have to pay inflated prices) poorer. Driving wealth inequality.
On the hard money side, government must tax properly. Take in more from the rich rather than inflating to take it from the poor. Reducing wealth inequality.
On the government money side, the wealthy monitize houses, stocks, resources. Saving in money is impossible, its inflated away. So they save in assets and hording resources. Capital is misallocated. The youth can't afford houses. Poverty traps are caused. The only way out is printing more for benefits. Making it all worse. More economic crises, more printing. More government debt.
Eventually, the wall is broken. Government money people can save in the hard money instead. It reduces the value of government money further. More printing. More inflation.
Eventually, war. Funded by printed money.
The dollar is the best of a bad bunch all other government money is falling in value even faster.
I wonder, is bitcoin really this better money though? It's limited, hard, and can't be printed without energy investment.
I'm still unsure that fixing money fixes the world.
--
Note: "crypto" is mostly more like government money than bitcoin. It can be printed indefinitely by it's makers, does not cost it's makers to print. Crypto is usually just a scam people to get more bitcoin. Bitcoin is not crypto.
#bitfest #bitcoin
Yea I can’t imagine why anyone thought this dipshit was defending rape…I mean aside from the over half a dozen posts where he defended rape as “not immoral”, literally said “No. In fact, the word "rape"…didn't even exist until the 1800s.” and arguing that being “owned”* wasn’t “horrific”
Complete mystery why people went after him, must be some weird BlueSky thing. 😂
JFC
President Trump pardons convicted Binance founder Changpeng Zhao, following months of efforts by Zhao to boost the Trump family's World Liberty Financial (Wall Street Journal)
https://www.wsj.com/finance/currencies/tru
How Large Language Models are Designed to Hallucinate
Richard Ackermann, Simeon Emanuilov
https://arxiv.org/abs/2509.16297 https://arxiv.org/pdf/2509.16297…
Turns out that what hit flight #UA1093 was most likely a balloon from https://windbornesystems.com - this was brought up first in the thread https://x.com/vk5qi/status/1980386581497409891 and now the company confirms that it's a very strong possibility: https://x.com/johndeanl/status/1980462264974209292. See also https://www.youtube.com/watch?v=YZzbS30xdjM for a short video about the company and how it's filling the atmosphere with long-duration balloons carrying weather sensors. They had just been hailed as one of the best inventions of 2025: https://time.com/collections/best-inventions-2025/7318250/windborne-systems-atlas/ ...
OpenAI says it will work with SAG-AFTRA, CAA, UTA, and others to crack down on Sora 2 deepfakes, following concerns from actor Bryan Cranston and SAG-AFTRA (Jaures Yip/CNBC)
https://www.cnbc.com/2025/10/20/open-ai-sora-bryan-cranston-sag-aftra.html
…
Moody Urbanity - UP ⬆️
情绪化城市 - 上面 ⬆️
📷 Nikon FE
🎞️ Ilford HP5 Plus 400, expired 1993
#filmphotography #Photography #blackandwhite
On Friday, Judge Boasberg ordered the administration to submit declarations by December 5
from all officials involved in the decision not to return the flights to the U.S.
He said he will then decide whether to seek testimony from witnesses.
The declarations should detail the officials’ roles in the decision, the judge said in the brief order.
Justice Department attorneys had urged him to abandon the probe,
but Boasberg said he must determine whether Homeland S…
Did you know Trump repeatedly lied lied LIED & bankrupted an entire sports league all because the NFL hurt his feelings?
▶️ One Man’s Ego vs. the NFL: Donald Trump and the demise of the USFL - Press Box Chronicles
https://youtube.com/watch?v=lCjWo9A_51E&si=LGdbd7…
Albany Georgia isn’t the only place where the poorest among us are also the sickest.
The United States is blessed with one of the most scientifically and technologically advanced health care systems in the world,
a sprawling industry so vast and lucrative that it is now one of the largest drivers of the economy,
accounting for more jobs and revenue than manufacturing.
But for all the money flowing in and out,
Americans have more chronic illnesses and shorte…