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This also sounds like Gresham's Law.
Gresham's law is a monetary principle stating that "bad money drives out good". For example, if there are two coins in circulation containing metal of different value, which are accepted by law as having similar face value, the more valuable coin based on the inherent value of its component metals will gradually disappear from circulation.
I think it would reasonably be a ponzi-like scheme if dollars were actually scarce, and the two currencies were roughly equivalent in issuance. But if you assume they actually keep producing dollars at a rate of 7%+ per year, then it just seems more like a speculative attack on the currency.
It doesn't make sense when your premise is that dollars are money. In a world where currency isn't scarce, I would argue that equities (and in some locales real estate) have broadly taken the place of money/savings.
Under this model, the incentives are to issue as much new "money" (shares) as credibly possible. We've seen some of the biggest publicly traded companies be cashflow negative for basically their entire existence, so that's not a part of the credibility evaluation. It's more of "do they have a compelling growth story."
From the banks, to the regulators, to the equity owners, to the lawmakers, virtually everyone involved is incentivized to perpetuate this scheme. I guess I'm not surprised anymore, because in a perverse way, it makes sense for the reality we're living in.
Probably Greece. Crete was really cool, Athens was great. Delos was fascinating. The cats are friendly and the people too. I enjoyed just taking some random hikes and eating delicious food, which can be found pretty much anywhere.
This got me interested in the algorithm itself. It would be great to hear about it from a cryptographer, but from what I gather it uses ML-KEM (a.k.a. kyber) to replace the traditional ECDH key exchange. ML-KEM is lattice based encryption, which uses a learning with errors (LWE) algorithm, which sounds cool, but is still very young in the encryption world.
So because this hasn't stood the test of time, they're using a hybrid approach. They generate a symmetric key via ML-KEM, which is then used to privately exchange traditional AES keys and encrypted data. Basically, the public key is never available to an adversary that could collect the traffic and one day have a CRQC to break it.
It doesn't seem like serious applications are ready to jump to lattice-based encryption wholesale yet. The devil you know is better than the devil you don't?
Mostly Bitcoin++, but @niftynei held like 6 of them last year all over the world. Otherwise MIT Bitcoin expo and OP_NEXT have had some interesting technical content as well. And then there's random stuff like the quantum summit at Presidio Bitcoin that looked productive. It will be hard to replace TABconf though.
Some nodes/wallets have a bootstrapping feature to open a direct.connection so they can fetch an invoice when they can't find a route for an onion message. But yeah, it would be great to see wider adoption.
Dang, I remember getting FOMO from missing the first TABConf. So much great technical content and clearly a labor of love. I've made a lot of friends there over subsequent years as well. We have other conferences to carry the torch now, but this one will always have a special place in my heart. Well done @tidwell and company.
You're looking for bit 38/39 option_onion_messages from bolt-9 assigned-feature-flags in order to relay the offers, which is just the messaging layer, not the payment. In order to pay to them (once they've fetched the offer), you generally want a peer that also supports 24/25, option_route_blinding so that it can act as a fronting node for your invoice because bolt 12 uses blinded paths by default. Route blinding should be widely supported at this point though.
So good! I've heard this song many times, but never with the added context. It really gives it an added punch though. It also makes me wonder if taking an early interest in politics (and economics) and then becoming completely disenchanted didn't prime me for Bitcoin in a way I didn't appreciate before. I guess whether it's 1971 or 2008, human nature around power and money doesn't change much.
I listened to the same Mark Connors podcast and was just thinking about this song. Thanks for posting!
I don't think it's the approach I would take in trying to reach a possibly disinterested audience, but it's also not bad. If this is just another touchpoint for some people, it may subtly change perception just a bit.
I love the theme, but you must have sold too many - it looks like your node needs some more inbound liquidity! Or maybe the channel/node is just down?
Failed after 1 attempts. We got temporary_channel_failure for the invoice's route hint (947325x2236x1/1), assuming it can't carry 3000000msat. Then routing failed: We could not find a usable set of paths
Senate Bill 90, which is moving through the Capitol now, would undo some of those protections, raising hackles in groups like CoPIRG, the Repair Association, iFixit and more than a dozen repair advocates who testified against the bill in April.
The bill creates exemptions for technology equipment used in critical infrastructure from the state’s right to repair laws. The bill passed in the Senate 22-13 on April 16 and is awaiting deliberation in the House.
Groups supporting the bill include Cisco, IBM, and TechNet, a network of technology CEOs and senior executives, according to lobbying disclosures. They argue that exemptions are necessary to protect against cybersecurity threats and intellectual property infringement.
This is why we can't have nice things. On another note, the repair cafe sounds pretty cool. I get a lot of pleasure out of fixing stuff. One of my favorite repairs recently is with an electric mower that ran great until the battery gave out after a couple years. Rather than paying almost the price of a new mower for a replacement battery, I made my own out of LiFePO4 cells that now give it full power for the whole yard and last ~4x as long as the originals. That was at a fraction of the replacement battery price too.
The fun thing about fixing it, is now you've replaced the weakest link and you understand more about how the thing works. It makes it even harder to dispose of the item in the future.
Congrats on the new kitten!
I have a neutered cat that basically adopted us as a kitten. He comes and goes as he pleases because it didn't feel right to me to lock him up inside. In the summer he's mostly an outdoor cat and in the winter he hangs out inside a lot more.
He's incredibly good natured to people - most of the neighbors know him and I know he hangs out in their homes sometimes. But he also scraps with the local cats constantly. I wish he were a little less territorial. He's 10 now he stays at a healthy weight all on his own just from getting out and about. No regrets about getting him neutered.
If you have a new kitten, you should have a few months before you need to make the decision.