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Issue #987: Bitcoin fixes Friday

Issue #987: Bitcoin fixes Friday

May 7, 2021
Marty's Ƀent

Issue #987: Bitcoin fixes Friday

There have been a number of things that have flown through my timeline this week that reminded me that there are many things that Bitcoin fixes. Let's wind up the week with some imaginative thinking and point out some areas that could drastically improve if Bitcoin were integrated into these processes.

First up, Twitter.

As you freaks may be able to tell from the fact that nearly every single rag that is released includes a tweet in it, your Uncle Marty is a pretty avid Twitter user. For some reason this dirty rag, the podcast I host, and the tweets I tweet have garnered me a bit of a following on the app. And if you're in the Bitcoin space with a sizable following you know that high follower count comes with a burden, shitcoin shilling bots that flood your mentions whenever you tweet.

It is an extremely annoying part of the Twitter experience that has probably taken many many hours away from many individuals lives if they are like me due to an OCD driven need to manually block each bot whenever they respond to tweets. No matter how many bots are blocked, there are always more. Many more. I would desperately love for Bitcoin to fix this by having Twitter implement a feature that would only allow individuals to respond to tweets if they paid a few sats over the Lightning Network.

This would allow anyone to set a very low price point for others to respond to their tweets (we're talking fractions of a penny) so actual conversations can be facilitated while at the same time thwarting off shitcoin shilling bots because they spam many accounts multiple times and the cost of doing that would simply be too high for this type of scamming. After all, most scammers are low effort, low investment worms who probably wouldn't be willing to pay for this.

Next up, the physical delivery of large amounts of money.

Believe it or not, people are still transferring large amounts of cash via armored vehicles. In the year 2021! If you watch the video above you'll see that this activity can be very dangerous sometimes as it can attract highway thieves who are hellbent on stealing the cash.

Instead of equipping yourself with an armored vehicle and an ex-military officer, equip yourself with some hardware wallets and a geographically distributed multisig wallet setup. Instead of painting a large target on yourself by driving a large armored vehicle you could send millions, shit billions of dollar worth of value from the comfort of your bathtub. All for less than it costs to fill up the tank of the armored vehicle. Let alone purchasing an armored vehicle and hiring very skilled ex-military members to operate it.

Lastly, inflation induced by government spendthrift.

When governments and central banks are given the ability to print money ex-nihilo, they will do so with an unquenchable thirst. They will then use that money printed out of nothing to incentivize and subsidize industries and activities they deem admirable. The effect of government printing money and pushing it to industries they deem admirable is a significant increase in prices that inevitably prices out the poor from those admirable industries and the goods and services they produce.

Bitcoin fixes this by providing the world with a sound monetary system anchored by a hard supply cap of 21 million bitcoins. This is tremendously virtuous and will protect humanity against the spendthrift of governments.

Final thought...

About to throw a tux on. Wearing tuxes always feels good.


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