Bitcoins - digital currency

"Digital assets are the future, and if the United States wants to remain a global leader in financial innovation, Congress needs to urgently pass bipartisan legislation establishing a comprehensive legal framework for digital assets and that strengthens the U.S. dollar with a strategic bitcoin reserve. I am humbled my colleagues have placed their trust in me to chair this historic subcommittee and I look forward to shepherding bipartisan legislation to President Trump’s desk this year that secures our financial future."

— Senator Cynthia Lummis on chairing the Senate Banking Subcommittee on
Digital Assets

What are the chances we see such a bitcoin reserve?

As if you could somehow hoard the benefits of using crypto. In fact it's the opposite. The more who use it, the more the benefits.

As for life in general, sure there is competition in things like poker, business, and for mates. But the vast majority of our prosperity comes from cooperation, via division of labor and trade. I want others to be prosperous and economically free because that allows me more opportunities to gain from trade with those people.

Nice post Tim was starting to get sick of this space.

That makes no sense. Poker is zero sum (well negative sum including rake, but lets say zero between you, me and other players). If you win more, I win less.

With bitcoin/crypto, the only value is when other people use it. If you're the only person with bitcoin because no one else wants it or thinks it has value, it is worth nothing.

tell me something this doesn't apply to

Life ressemble more of a cash poker game (expanding money supply anytime you wish ) then a poker tournament (fix money supply)

So a solo miner binks a block, even say a bitaxe which has already happened apparently. What determines that moment that a miner solves/confirms a block? Do they mine the entire block? I understand they are just guessing transactions trillions of times, but what is the event that awards a block to a solo miner?

ELI5 please.

As I understand it:

A miner hashes the current block header with an appended string, called a "nonce". The resulting hash must satisfy the complexity requirement currently in place to be considered a successful hash. That complexity requires a pre-determined length of leading zeroes in the resulting hash, i.e. the more leading zeroes required, the longer it takes to find a satisfactory hash.

Once a miner has found "a" successful nonce that yields a hash satisfying the leading zero requirement, that miner is awarded BTC, which is currently 3.125.

In 2009 a miner with a PC + $200 GPU could typically solve a block in less than an hour, and be awarded 50 BTC in the process.

Now, It takes a typical PC years to solve a block at current complexity requirement.

Of course these are expected times. A miner could randomly get the nonce correct, but the odds are extremely high.

Polymarket has it around 15% for first 100 days. And I think 45% for during 2025.

It's a near lock to happen at some point, only question is when.

God, I wish I'd believed harder in BTC and less in my own poker ability.

Jeffrey Emmanuel is an uber BTC bull along with AI bull. Below is an 80 minute interview of him talking about a broad range of stuff, including NVDA being over valued. Around 0:50 he discusses his bull case for BTC. Any rando could have said the same thing, but coming from him it carries a lot more weight.

Bought some crypto in the last 8 hours.
BTC sub 88 when this sellof, or whatever tf this is, is all over?

A house you can live in even if there are no buyers that want it

If no one else wants it or thinks it has value, that house is still worth nothing.

BTC dominance is at cycle High... 64%

I am thinking we could see eth to 1800-1900 and btc to 75-80k before we go forward. that's a worst case scenario until the fed ends QT and enters QE... maybe march.

This is why Bitcoin and chill is the best. Unfortunately, I haven't been smart enough to do that lol. Though, Bitcoin is still a large percentage of my crypto portfolio.

I'd been debating rotating liquid eth/sol into retirement account BTC and was still actively thinking about it.

Whoops.

It would be fighting the tide at this point to focus your accumulation on anything bit bitcoin.

SOL is good for shitcoinining. If you aren't shitcoining then just jito soak a slice of your portfolio, 10% or whatever
ETH is good for farming. If you aren't farming then yeet the whole bag. Remaining loyal to ETH from the NFT bull run has been the biggest crypto mistake I've made up to this point.

So Bessent and Lutnick got their marching orders to create a US Sovereign Wealth Fund.

It's too simple for this to be demoninated in BTC, hence the bump today.

i'm sorry but i can't take anything packaged like this seriously

What, you aren't looking forward to riveting talks from "AI Generated PFP guy" and "Anthropomorphous AI Generated Durian-lizard guy"

To be honest I did not pay much attention to the hosts. Emmanuel basically ignored them as well and he directed 90% of the conversation.

If someone lives in a house it has value , despite having buyers or not .

Cool. Air has value as well, despite having buyers or not.

Well you dont build air and you dont need to build anything to use air to your benefit.