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Issue #742: Old coins on the move

Issue #742: Old coins on the move

May 20, 2020
Marty's Ƀent

Issue #742: Old coins on the move

Woooo doggie! Block 631,058 has a transaction included in it that used a UTXO from the coinbase of block 3,654, which was mined on February 9th, 2009. A little over a month after the Bitcoin network was launched. It's pretty rare to see older UTXOs like this one move around the blockchain, but it does happen.

Be aware, these coins moving will probably be leveraged by overzealous users of Bitcoin "competitors" claiming that Satoshi is moving coins. This is most likely not the case. However make no mistake, There Will Be FUD.

If anything, this highlights one of the beautiful things about Bitcoin. We can only guess at who owns the coins until they reveal themselves by signing a message that proves they are the rightful owner of the coins that have been moved.

Birthrates and paywalls

via WSJ
via WSJ

Well this is a sad sight to see, but is nothing you should be surprised about if you've been reading this rag for long enough. As the economy has deteriorated and the prospects for a better, stronger future for the Common Man have dissolved like a snow ball falling into a hot tub, we are beginning to see the societal repercussions of central banking gone awry. The birthrate in the US has fallen to its lowest level since the government began tracking the figure over 110 years ago.

This is what happens when you disenfranchise individuals by making it harder for them to accumulate capital and plan for the future. I can only speak anecdotally, but the most common response I get from friends who are putting off family formation is some different form of the phrase, "I want to make sure I can provide my child with a comfortable life. I need to make more money." If official studies were to be conducted (and they may very well have already been conducted and have simply not crossed my radar), I bet we would see answers that confirm the anecdote above across the nation. I imagine we would see responses very much in line with what Japanese citizens have responded to surveys asking why they aren't forming families.

via The Japan Times
via The Japan Times

This is your society on easy money. When the Common Man is unable to store his hard earned money in a monetary good that respects his time, energy, and purchasing power he will put off family formation. This is not the society your Uncle Marty wants to live in.

On a side note, there may have been a study confirming or disproving my hypothesis above within the Wall Street Journal article. Unfortunately, I wouldn't know because I don't subscribe to that blog, nor do I plan on subscribing to that blog to read a single article. If the Wall Street Journal joined us in 2020 and would allow me to pay for the individual article with sats over the Lightning Network, I would gladly do so. Money left on the table. Oh well. Maybe one day.

Final thought...

A meatball sauce is being made in the house I'm locked down in today. It's making me hungry.


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