ok chartbuddy we get it, youre lonely
so heres a spacer before the Wall Observer becomes the Chart Buddy Observer
man CB will get delusions of grandeur soon if this keeps up.
Don't yall get it? Chart buddy IS the wall observer! Him being back has this thread back on topic slightly!  |
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On the other hand, for many grandmas with smart phones all the channel management etc will be handled by the players building this stuff. There is some pretty deep money to be made taking a seat at the table where Strike is currently one of the only ones sitting.
Where the real innovation lies for this? Making all these things into a standards. Everyday folks are not going to take the time to learn what lightning is. They just need a way to pay for their stuff. And the tech will do all of this on the back end.
This is where some folks are frightened by the centralization that this will incur. And I understand that. But it is unavoidable. There is no way to build these systems in a way that people will not take the "easy route". Like a gmail account... The banks and merchants who do this well are going to have a really big seat at the table.
This is why I talked about merchants owning and operating their own nodes because it makes sence to be that they would benefit directly off of the node instead of using another and they can set their own fees without having a external person changing those fees frequently because they would have to reflect that in their store prices. Lightening is hard to understand for most and I think this is a problem for Bitcoin as well because its hard to understand people are scared of it. As soon as we can figure a way to make Bitcoin less complicated I think adoption could increase. I think vendors operating their own nodes for customers would help in making it less complicated because then the consumer does not have to worry about fees because they could be included into the price if a vendor has set them. If there are enough vendors operating their own nodes then we do not have to worry about centralization except maybe that all retail merchants will own all of the nodes but I do not think that is to big of a problem and would not stop adoption because credit cards are currently run by one entity instead of lightening nodes being owned by the business you choose to do business with. Do we know it's real? It looks a bit photoshoppy to me.
It is photoshopped the giveaway is the lights. The material used for bill boards does not reflect light like that. I have seen Bitcoin billboards but I am not sure they are any good at getting people to look into Bitcoin and research it. I think the centralization risk is more with the banks than the merchants, although the line blurs. Imagine Amazon's node. Yeah, and the billboard prolly is fake... hard to believe though since it was on twitter, and twitter only allows true things. |
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You guys feel that little breeze? I am calling on your Bitcoin... Now is the time to start it up...  |
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We should see several interesting dynamics come into play.
1. Prices will likely drop at merchants that take Bitcoin, and discounts for payment in bitcoin will be offered.
2. Wallets will begin to intelligently choose between on and off chain payments at certain thresholds.
3. Real competition in the lightning node fee markets will develop as you will not have the near monopolies the CCs currently are.
4. It will make sence to open channels to retailers you frequent the most. The grocery store, and perhaps even the computer store. And then you may be able to reduce your fees to 0, or close to it.
Banks will eventually do complex channel management, and i predict we might even see payment apps, that can use the lightning network branded by the bank. Strike has shown the way, and banks may begin to realize they can do FIAT denominated electronic payments by using the lightning network backend.
When you think about it a little and start to see the future.. it's pretty amazing, in my opinion.
I will get to some of your post later on but what do you think about merchants creating and operating their own Lightening node. I think that would be more profitable for them and while not every merchant might have the knowledge to do it I think the bigger companies would open their own nodes and dictate their own fees. That could be problematic if Google started doing that because they could demand higher fees and still get business while smaller businesses would need to charge more for the product and would need to use lightening nodes which already exist or create their own with fees which would not compete with Google. Oh, I think it will most certainly happen. I can imagine merchants offering all kinds of incentives to connect to their nodes like they do with lines of credit today. Including lines of credit. Because merchants will figure out having a well connected payment node will make them money, and save them money. And of course eventually there will be so many connected nodes with big channels that payments will work better and better as the network grows. But one of the best incentives is if you have a channel to the grocery chain's node then payments can be basically free. Also (and somewhat disturbingly) the whole "buyer's card" thing also gets tossed in this scenario, because the data will be directly in the hands of the seller... they will know what you bought, when you bought it, etc. Which is the reason for those little dumb cards now. So like I said... I think the store will not only encourage you to open a channel to their node they might pay for it. On the other hand, for many grandmas with smart phones all the channel management etc will be handled by the players building this stuff. There is some pretty deep money to be made taking a seat at the table where Strike is currently one of the only ones sitting. Where the real innovation lies for this? Making all these things into a standards. Everyday folks are not going to take the time to learn what lightning is. They just need a way to pay for their stuff. And the tech will do all of this on the back end. This is where some folks are frightened by the centralization that this will incur. And I understand that. But it is unavoidable. There is no way to build these systems in a way that people will not take the "easy route". Like a gmail account... The banks and merchants who do this well are going to have a really big seat at the table. But like I frequently point out. No one HAS to use ANY of it if they do not want to. And "power users" will be able to keep their sovereignty as long as we keep the requirements to run a node low enough. |
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On many of my lightning channels I charge no fee. On some high traffic channels (that are not mainly streaming payments, or channels with a country that NEEDS BTC (Cuba, ES, Afghanistan, Venezuela)) I charge an absolutely minimal fee, in theory to discourage attacks, though I am not sure if 2 satoshis is enough to have an anti-spam effect on a ~$500 payment, lol... Who says lightning can only handle very small payments? My little computer the size of an Altoids tin routed a successful >1000000 sat payment! And does frequently. And I rake in a whopping $0.00097. It'll take more than 100 of these to make me a whole penny. I am watching my traffic very carefully, and it is most certainly increasing. My channel with Podcast Index is my favourite with payments commonly between 1-3 satoshis. I have records of facilitating payments EACH SECOND to this node at 3 satoshis each... This is letting a podacaster earn $5hr for their content instead of the $3/hr they would earn if each of the forwards I took just 1 SAT. Yes, I am losing potential revenue... But I am also avoiding having to report that as income lol. And my very biggest reason to do it is to make it possible for these pioneers to spin this thing up and make it work. Here is a fun little segment from my logs... with some of the sensitive info XXXX'd out. 3 sats per second! My raspberryPi is helping make streaming payment possible!!!! I am certainly not against lightning node operators making money for routing payments... But I have to admit, I wonder if there are more people like me out there if it will make this catch on a little quicker? Imo this is how the lightening network should operate in the future. I said in another topic that the problem with Bitcoin is the fees and the complexity of setting up Lightening nodes but if we can get people to not charge much for operating a Lightening node then the incentive for people adopting Bitcoin compared to credit cards will go up. Atm vendors are accepting credit cards because they are instant and they have no fees but in time when Bitcoin gets more popular vendors will be encouraged to accept Bitcoin but the only problem for them would be people would still be more likely to pay with their credit cards because of the fees. Although if we can get more people like you setting up Lightening nodes with little fees the incentive of customers paying in Bitcoin increases and then more vendors will want to accept Bitcoin increasing its adoption and improving the price for all of us. The only problem we have a lot of people do not see past that they can earn money while operating a node and processing transactions but if they saw that reducing their commission for increased adoption would benefit them more. I have to ask does what you earn processing transactions pay for the electricity that you are using to operate the node because those are some very small fees. Another interesting twist in the lightning vs Bitcoin vs credit card models: Credit cards charge a flat fee of ~3% for each purchase. So when you go the the computer store and buy your $2500 Macbook $75 of this goes straight to the chain of people who facilitate the CC purchase. But this *seems* to be invisible to you. Because the laptop cost $2500, and you PAID $2500. But the store only received 2425.00. (Of course taxes are a totally different animal). So the math involved in getting this all right for the supply chain from the semi manufacturers to the seller takes that 3% into account in the suggested retail price. The model we currently see in the lightning network the fees are paid by the BUYER. If i send you 5,157,320 satoshis (currently ~2.5kUSD) you GET exactly that many satoshis. As a side note this is a fairly BIG lightning invoice... but also possible today thanks to wumbo channels and multi-path-payments. It would still be hard to get this one through without a channel to the seller, but it will get easier over time. Fees paid for a transaction this size will vary WILDLY based on the available nodes and how many hops needed to make the payment. But we could expect to pay somewhere between 500-50000 sats for this payment. Bitcoin on chain payments ALSO charge the sender the fee. But there is a very interesting difference to fee structures on lightning. And one that is quite useful to commerce. It is an interesting twist that currently if you send ANY AMOUNT onchain it will, as of this post, cost you about $0.36usd to see it make a block within an hour (2sat/b). This is true if you send ten cents or if you send $10,000,000. This illustrates the problem with micropayments that Satoshi and Hal Finney and others discussed here in the early days. The lightning network charges fees TWO ways. -A flat fee -a fee rate Both denominated in millisats (0.000000000001 BTC) you will often see a 1000 milisat fee, with fee rate that can be between 1-2%. This means a lightning network payment might see fees that are often less than, but approaching the fees on credit cards. Sometimes more, sometimes less. But the structure is particularly useful for micropayments because you can charge even less than a satoshi for very small transactions. And people pushing the limits and using giant liquidity pay an arguably fairer price. But this will hit the buyer. When you buy your $2500 macbook you could easily pay $25-50 in fees to get that payment across (again assuming you are connected well enough to make that large payment. We should see several interesting dynamics come into play. 1. Prices will likely drop at merchants that take Bitcoin, and discounts for payment in bitcoin will be offered. 2. Wallets will begin to intelligently choose between on and off chain payments at certain thresholds. 3. Real competition in the lightning node fee markets will develop as you will not have the near monopolies the CCs currently are. 4. It will make sence to open channels to retailers you frequent the most. The grocery store, and perhaps even the computer store. And then you may be able to reduce your fees to 0, or close to it. Banks will eventually do complex channel management, and i predict we might even see payment apps, that can use the lightning network branded by the bank. Strike has shown the way, and banks may begin to realize they can do FIAT denominated electronic payments by using the lightning network backend. When you think about it a little and start to see the future.. it's pretty amazing, in my opinion. |
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 More of these, please. Maybe someday I will put one up. But I know a lot of folks think the Guy Fawkes mask is cool and all, but doesn't it sort of reinforce the "shadowy super coder", "bitcoin is being used for dark purposes" stereotype? In the US probably nearly half of us would associate that with Antifa, and most of those people would not see it in a positive light. -says a random pseudonymous dude on the internet... |
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On many of my lightning channels I charge no fee. On some high traffic channels (that are not mainly streaming payments, or channels with a country that NEEDS BTC (Cuba, ES, Afghanistan, Venezuela)) I charge an absolutely minimal fee, in theory to discourage attacks, though I am not sure if 2 satoshis is enough to have an anti-spam effect on a ~$500 payment, lol...  Who says lightning can only handle very small payments? My little computer the size of an Altoids tin routed a successful >1000000 sat payment! And does frequently. And I rake in a whopping $0.00097. It'll take more than 100 of these to make me a whole penny. I am watching my traffic very carefully, and it is most certainly increasing. My channel with Podcast Index is my favourite with payments commonly between 1-3 satoshis. I have records of facilitating payments EACH SECOND to this node at 3 satoshis each... This is letting a podacaster earn $5hr for their content instead of the $3/hr they would earn if each of the forwards I took just 1 SAT. Yes, I am losing potential revenue... But I am also avoiding having to report that as income lol. And my very biggest reason to do it is to make it possible for these pioneers to spin this thing up and make it work. Here is a fun little segment from my logs... with some of the sensitive info XXXX'd out. 3 sats per second! My raspberryPi is helping make streaming payment possible!!!! 1630014001,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:40,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630013942,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:39,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630013881,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:38,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630013825,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:37,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630013762,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:36,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630013701,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:35,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630013640,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:34,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630013582,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:33,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630013519,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:31,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630013461,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:31,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630013401,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:30,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630013341,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:29,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630013282,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:28,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630013221,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:27,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630013162,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:26,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630013103,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:25,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630013040,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:24,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630012981,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:23,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630012922,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:22,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630012862,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:21,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630012802,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:20,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630012740,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:19,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630012683,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:18,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630012622,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:17,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630012563,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:16,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630012500,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:15,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630012374,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:12,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630012314,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:11,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630012255,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:10,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630012194,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:09,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630012135,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:08,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630012075,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:07,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630012014,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:06,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630011955,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:05,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630011894,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:04,XxXxX.com / XXXXXORIGNNODE,Podcast Index I am certainly not against lightning node operators making money for routing payments... But I have to admit, I wonder if there are more people like me out there if it will make this catch on a little quicker? |
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Friday pumps? Or coincidence?   |
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I could certainly be wrong.. But my opsec is borked way past anything this picture reveals. This just reveals that I had an account on Mt Gox with a least a trivial amount of Bitcoin under the same name I use here. My post history has already given all of that away. Several times. Also my address reuse, and other early errors make my privacy nearly non existent... It's sad but true.
I may have been being a little tongue-in-cheek. I feel better. Back in the earlyish days... when I used a wallet at blockchain.com for a fairly short amount of time (what a convoluted foolishnees that whole thing was) I ended up with a BTC address that was something like: 1Raawwk5hJ98 I mean we all did that... right? fell in love with some silly front end of an address. Like a vanity address from God. Well when I was withdrawing from Seals with Clubs I always used that address... because it was COOL! So I ended up painting a big ass arrow to everything I owned or did. Actually *THIS* post really does expose a little more security risk than I probably should... but eff it. |
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Yes...
I know copycats come in all shapes, colors, stripes and sizes.. .
Go try to figure that one out, toxicmoxic? if you can? #nohomo
 I do not assume this is exactly what Theymos meant for "merits" to be used for? But fuck it. It's just right. |
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Well, wouldja look at that?!??! I DID have a balance on Gox!  _edit_ Still reeling! All the talk I do about not leaving your balance laying around, and in reality I was GOXED. Good god man. Opsec! I could certainly be wrong.. But my opsec is borked way past anything this picture reveals. This just reveals that I had an account on Mt Gox with a least a trivial amount of Bitcoin under the same name I use here. My post history has already given all of that away. Several times. Also my address reuse, and other early errors make my privacy nearly non existent... It's sad but true. |
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https://medium.com/blockstream-markets-weekly/blockstream-markets-weekly-aug-27-2021- Blockstream raises $210M and acquires hardware maker Spondoolies (as the first step in the establishment of Blockstream’s new ASIC division) - BTC held by funds/corporates ticks higher as MST buys another $177M worth of BTC - Morgan Stanley funds expand GBTC positions - futures-backed ETF may be just weeks away - and Cuba looks to follow El Salvador’s lead on Bitcoin Speaking of Blockstream: I fully agree with that tweet. Not that I hate them, but they are not a good company as an investment.  On the other hand, you don't make a magic internet coin worth 1 Trln Dollar just hodling the coins. As much as a respect Paul Sztorc (quite a bit) I think this is fallacious, and basically the exact same argument as "Lazlo is a fool for spending half a billion on Pizza". Blockstream is controversial for some decent reasons... but they are contributing more the the bitcoin ecosystem than all but a few other companies. Making this kind of omlette requires broken eggs. |
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My speculation about this coin i think Monero will go up to $300 before the end of this week and after that there will be some correction then go back into below $250. For the long term i think monero can reach hes new all time high in december but it just my own opinion about this coin.
You made a pretty good prediction with the first bit... we are yet to see if you are right about the second. I would not bet on it, but it is easily possible. |
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Yeah I grabbed it today. Lol $13 shipping. Blockstream might be good at a lot of things.. but they need to learn that one. That is NOT how to do it. Make the hardware $49 and charge nothing for shipping.. would feel great. Give a 10% discount on USDT orders making a wallet cost like 36, and then add $13 shipping? Feel poked. This is a really unique h/w wallet. Camera for aigapped signing. Multisig default setups. Bitcoin only. But also L-BTC and that whole ecosystem. Specter support. USBC. I will review it after I use it... and I suppose I have a problem since I own a ledger, a trezor, a cold card and a keep key. I SWEAR THIS IS THE LAST ONE! And the keep key was $10. What a deal.. that's an underrated gizmo. Basically a trezor but a bigger UI. |
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Well, wouldja look at that?!??! I DID have a balance on Gox! _edit_ Still reeling! All the talk I do about not leaving your balance laying around, and in reality I was GOXED. |
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And 9/10 readers of ANYTHING on bitcoin.com think Coinbase is a bitcoin wallet. |
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The only way to make this clown-train stay on the tracks is to centralize it further. Much further. When are the masses going to finally realize that this causes it to lose ALL the advantages of Bitcoin, AND take on some serious negative aspects? And that running it on a blockchain is actually stupid when you should just run it on a SQL database that the people who control it... well... control? [img width =100]https://i.imgur.com/c32Wpec.png[/img] https://twitter.com/BobMcElrath/status/1431263073227132929This shit stain needs to die in a bonfire of its own making. Why its vulnerability that was known for over a year wasn't exploited is beyond me. If I was a Bitcoin Maxi with an original coin hoard I would have funded to take that crap down years ago. The longer it exists the worse it is for bitcoin, as when it inevitable either changes to a centralized hosted database or fragments under its own weight the backlash from all the tards will be on Cryptography as a whole. We all know the bankers will fud that to the end of the earth stating it is a flaw in the entire decentralized model when its nothing more than shit coding and putting a scam ahead of sound principles. Its a sad fact that the longer it exists the more legitimate in the plebs eyes it is becoming. I don't think it goes away. There is too much invested in it. Money, code, hype. And it can keep failing over and over and people will just excuse it because that is what we have done with centralized money for centuries. We are comfortable with it's sorts of failures. And too many people are either blinded by the contraptions you can build with it, or see it as some way to make money out of nothing (just about the ENTIRE DeFi space). The only hope, as I see it, is for the work being done on that chain (and all the clones) will be field tested there in that sandbox, and the few things that actually have value will be brought over to run on side/drive/xxx-chains atop Bitcoin. We are both Monero believers, and I am actually GLAD to see the somewhat centralized Liquid side chain adopt confidential transactions. This is a step in the right direction. I also own a B-JDE token on liquid (this will buy me a mythical Jade h/w wallet when they ever exist). I have a very bad taste in my mouth for token issued atop something else, so part of my feels like what blockstream is doing is recreating Ethereum. Yet, if they are successful then what they are ACTUALLY doing is recreating it the RIGHT WAY ... a way that the base layer is not touched by all the nonsense. It can just be MONEY like it is supposed to be, and as a side bonus allow for rooting other chains like the LIQUID chain... |
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The only way to make this clown-train stay on the tracks is to centralize it further. Much further. When are the masses going to finally realize that this causes it to lose ALL the advantages of Bitcoin, AND take on some serious negative aspects? And that running it on a blockchain is actually stupid when you should just run it on a SQL database that the people who control it... well... control?  https://twitter.com/BobMcElrath/status/1431263073227132929 |
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Hueristic can tell you... Poker players call it level thinking.
Its funny you should mention that. I always hated Psychologists and thought it was an invasion of privacy to try to get into someone elses head. I think that hatred came from when a shrink lied to me as a kid and I never forgave them after telling me it was against the rules for them to repeat what they heard. With that being said I ended up having to take one (one class for some weird ass reason) as it was a pre requisite for my degree so I took critical thinking and I have to say that is a class I think should be taught in middle school as it really teaches you how to approach and solve a problem in a logical manner. Funny thing is I was already doing what the class taught but really would have liked to have had it taught to me at a younger age so I didn't have to figure it out myself. Ohh one thing about level thinking I've found is it is easier to make (hollywood) the other player fuck his up than to have to rely on yours.  Definitely looks like a business opportunity, if I was 10 20 years younger. For me the most useful bit on level thinking at the poker table is understanding that you have to play the game at, or one level above or below the villain. It's easy to make mistakes when I assume they are thinking at a level they are not. This is evident in an player who is always blaming their losses on the stupidity of their opponent. I never say this, but I always think... "If you know they are making that mistake, why do you keep playing with the assumption that they will not make that mistake?" |
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Someone has, sir. I consider you someone. You know this energy thing is one of the many reasons I have realized we are still SO early. Hueristic can tell you... Poker players call it level thinking. I am sure it's not just poker players who call it that... Thing is so few people have figured out that Bitcoin will revolutionize the power industry more than pretty much anything else aside from the "money industry". It will eventually change SO MANY OTHER things... But power is basically second order. Almost still first... But it's one level away from the base. Bitcoin takes power! HUUR DUUR Bircorn bad. Use power for nothing. Bitcoin will drive an energy revolution unlike anything we have seen so far. This is not hyperbole. And I am sure some of you poker players have already seen it. Bitcoin creates a power consumer base layer. Most of the time we think of power as something we do not have enough of. Something we all have to share like a pie. But there is more atomic energy in a single penny than we can really imagine. But I will help. The energy in one US penny (3.1 grams of copper plated zinc) is FOUR TIMES the amount of energy released by the bomb that was dropped on Hiroshima. We have more potential wind, solar, nuclear, and yes, hydrocarbon energy available to us than we could use in millions of years. The problem is it takes WORK to build the systems that produce the energy. And work is the distilled value of human lives. If you were to build a large hydroelectric energy source, or a nuclear reactor in MANY parts of the world where this is a REAL NEED for energy, there would not be a demand large enough to justify the expense. So there are places all over the world that NEED energy, but do not have it. Bitcoin fixes this. Really. Because NOW we can build a dam that serves a area somewhere in the world that is starved for power. But it's OK that there re not enough power customers to make the dam profitable! Just rack up a pile of bitcoin miners!!!!! THEY can pay for the dam. And then you have abundant energy for the surrounding villages, which will grow to out compete the old bitcoin machines for the power that resource produces. Bitcoin will revolutionize the energy markets. There is no way it doesn't. |
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