tag:blogger.com,1999:blog-289456542024-03-13T23:11:04.773-06:00King Arthur's Tech LifeKing Arthurhttp://www.blogger.com/profile/02240499194585217919noreply@blogger.comBlogger217125tag:blogger.com,1999:blog-28945654.post-78877724761940430662022-02-11T04:50:00.002-07:002022-02-11T07:35:09.206-07:00Over 5000 people have donated 1 million dollars via Bitcoin<p> </p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEiinarQ_2FwmF1tNmsTsgBbs5jsLlM_e2A6NpqUTbHDrGRjUh4uOouLJJD2Iax-DxZpVOLURk_mWAf9HyYhE2EwYK05AiRnsDgZQ7gKpCZdI9wk4ktq9NUNH-CPHYdAtJGv6_vWFwJhgVPr8QT7J7pm1r1VxgmdW8tJJutUPU247av6FXbZKw=s1265" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="937" data-original-width="1265" height="237" src="https://blogger.googleusercontent.com/img/a/AVvXsEiinarQ_2FwmF1tNmsTsgBbs5jsLlM_e2A6NpqUTbHDrGRjUh4uOouLJJD2Iax-DxZpVOLURk_mWAf9HyYhE2EwYK05AiRnsDgZQ7gKpCZdI9wk4ktq9NUNH-CPHYdAtJGv6_vWFwJhgVPr8QT7J7pm1r1VxgmdW8tJJutUPU247av6FXbZKw=s320" width="320" /></a></div>When I started helping with lighting Bitcoin I never though how quickly Bitcoin would catch on in Canada. Go Fraud me had raised over 10 million before to much political press came down. They had already dispersed 1 million dollars, but then the TD bank froze that money on their side. <i>What are freedom loving Canadians to do where they can't send money to each other?</i> Well, up steps <a href="https://tallyco.in/s/lzxccm/" target="_blank">Tally Coin</a> the website was a little bit more developed than https://geyser.fund/ and it has already implemented Bitcoin lightning payments. The reason why lightning was so important was because on-chain transactions where costing 10 sats / vByte (approx 1 dollar per transaction) for the last 2 weeks. The other important factor is lightning allows for more anonymous donations. Cheap, anonymous donations allowed over 5000 people to donate over 1 million with no fear of bank or government seizure. Like their website says:<p></p><p style="margin-left: 40px; text-align: left;">"The Canadian Bitcoin community would like to have a second financial
access point for #FreedomConvoy2022. Legacy financial infrastructure can
sometimes be politicized and clamped down upon, whereas Bitcoin is a
truly censorship resistant method of communicating value. Don't allow
your voices to be silenced, and don't allow your financial sovereignty
to be trampled upon. Love, unity and freedom - let's raise some hard money for hard workers!"</p><p style="text-align: left;">To have a sense of how amazing this is you need to realize how new lighting transactions are. Right now there are only 3500 Bitcoins on 35,000 nodes (20,000 active) so these Bitcoin banks are only risking <a href="https://bitbo.io/" target="_blank">200 million</a> whereas the Bitcoin network is worth over 1 trillion. <br /></p>King Arthurhttp://www.blogger.com/profile/02240499194585217919noreply@blogger.com0tag:blogger.com,1999:blog-28945654.post-79883155652109355802021-12-12T10:57:00.000-07:002021-12-12T10:57:08.500-07:00Instant transfer of Bitcoin makes onboarding easy.<p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEimKWwX6owONuKUFO-FMELSkoJhb6614wo8VWo0mnpGyFLYsoHMj1RHc_L9gQXJtlQLVqnWQCO2VTCqEEmafZtEihEF6t6lmLqfVGgUZi7eLDXDHf1wk1BbgPjaC1VqVUmbOVDjnZ6PuTACOjV-HJqZ9kgsNfJ9x56EnJo9Vi291BSRhl7PYw=s1280" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="720" data-original-width="1280" height="180" src="https://blogger.googleusercontent.com/img/a/AVvXsEimKWwX6owONuKUFO-FMELSkoJhb6614wo8VWo0mnpGyFLYsoHMj1RHc_L9gQXJtlQLVqnWQCO2VTCqEEmafZtEihEF6t6lmLqfVGgUZi7eLDXDHf1wk1BbgPjaC1VqVUmbOVDjnZ6PuTACOjV-HJqZ9kgsNfJ9x56EnJo9Vi291BSRhl7PYw=w320-h180" width="320" /></a></div><br /> Every time I onboard a newbie into Bitcoin I wonder how their journey will be. Will they crash and burn (sell) or be like me and try to buy the dips. Here was my path.<p></p><p>I first bought #Bitcoin in blind speculation. Then I believed in it as an investment. Then I believed in it as money. Then it became my primary money. Then I decided to build a business around it. Today I am convinced #Bitcoin is legit -- humanity’s best hope for peace & prosperity. This is because the world is in tough shape right now: -Unworkable, socialistic economic policies; the march of tyranny; authoritarianism & state violence; inflation & a broken supply chain and job market kaos. </p><p>I onboarded this new newbie onto the Phoenix Wallet because it allows her to have self custody and do Lightning Bitcoin transactions. It was a little hard <a href="https://phoenix.acinq.co/faq#what-are-the-fees" target="_blank">explaining</a> the 3000 lost sats from what I sent her and the couple of lost sats when she sends it onward. I think having me there to explain the "Restore my wallet", feature by Acinq via entering the 12-words helped. She asked me about word order so I think she was catching on to how important the seed words are. She liked the instant transfer of wealth. Having a little Bitcoin nest egg helps everyone secure their future.</p>King Arthurhttp://www.blogger.com/profile/02240499194585217919noreply@blogger.com0tag:blogger.com,1999:blog-28945654.post-1415755581819024802021-11-08T08:38:00.000-07:002021-11-08T08:38:34.818-07:00Bitcoin -- Pragmatist climb on board<div class="separator" style="clear: both;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiolUWpfTDUUETIQToteKp_cFR33iYOqWi8fcENNk0M01-C6MdAMn3dJ8WAZLMN5Sm4dF1040yvxXXdfOejZQ6bIgwelVav_czDWYmdKpFoiZkboek6hL8gSHIg0_ant6QLGF-N/s2000/pragmatist.png" style="clear: right; display: block; float: right; margin-bottom: 1em; margin-left: 1em; padding: 1em 0px; text-align: center;"><img alt="" border="0" data-original-height="1125" data-original-width="2000" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiolUWpfTDUUETIQToteKp_cFR33iYOqWi8fcENNk0M01-C6MdAMn3dJ8WAZLMN5Sm4dF1040yvxXXdfOejZQ6bIgwelVav_czDWYmdKpFoiZkboek6hL8gSHIg0_ant6QLGF-N/s320/pragmatist.png" width="320" /></a>Who would of thought that it would take bitcoin 13 years until the pragmatist would catch on. Last week I had 2 people (who are smart and rich) phone me. They wanted to talk about bitcoin. I explained how Internet 1.0 allowed information to become easily available. A lot of people, 40 and under, have heard about tor but don't understand why we need it. Then I went on to talk about Internet 2.0 where digital information is hard to duplicate. One person wanted me to talk about Ethereum, but it has more to do with gambling than a real form of currency. People want to call Ethereum money, but it is like calling the stock market money -- if someone buys your crap then yes it is money. Ethereum has been trying to get the handle defi (decentralize finance), but it is really peer to peer finance. We are so new to crypto that not many are really educated on the subject. </div><div class="separator" style="clear: both;"><div class="separator" style="clear: both;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjbF7ne2sDYB7w-Lculhi1rakI-5ZkS7d2n3ZyyV4ygE4DCX8fw_6Y3JHqVOQClzy66fV1wa-Py1pLR_1wwkG_Iu8pW1NxHf-df4rx5prmX6mwvIIXFaUFF-De2z_OW3peeeSKc/s697/noah.jpeg" style="clear: left; display: block; float: left; margin-bottom: 1em; margin-right: 1em; padding: 1em 0px; text-align: center;"><img alt="" border="0" data-original-height="697" data-original-width="697" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjbF7ne2sDYB7w-Lculhi1rakI-5ZkS7d2n3ZyyV4ygE4DCX8fw_6Y3JHqVOQClzy66fV1wa-Py1pLR_1wwkG_Iu8pW1NxHf-df4rx5prmX6mwvIIXFaUFF-De2z_OW3peeeSKc/s320/noah.jpeg" width="320" /></a></div>Thirteen years makes bitcoin a teenager and that is when people start testing their wings. It seems to me, like teenagers, bitcoin is forcing others around them to take action. Bitcoin is the hardest money and it’s going to destroy every other fiat money; even if Raoul Pal thinks Ethereum is better than Bitcoin. Now that Bitcoin is at a<a href="https://bisq.markets/market/btc_cad" target="_blank"> all time high</a> most people are giving it a second look. This second look allows people to challenge their presuppositions. I do have my doubts also, however 13 years is a long time. There is a lot of metrics that calm my fears. Bitcoin is more than <a href="https://bitcoin.clarkmoody.com/dashboard/" target="_blank">10% the value</a> of all the gold in the world. Taproot allows for multi signature wallets to look like regular wallets. The hash rate is over 140 exahash. <br /></div>King Arthurhttp://www.blogger.com/profile/02240499194585217919noreply@blogger.com0tag:blogger.com,1999:blog-28945654.post-15501508926736065102021-10-06T16:13:00.001-06:002021-10-06T16:13:57.915-06:00Bitcoin allows us to walk tall.
<div class="separator" style="clear: both;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiBMKgw8RfNOkta9qNdjQ0axYduTAoPN5t1fqefE76B1IZlxtwc1bL1eGx9OgrX7ayyMfyVw6-UrNlHGP41BWLMxIi53ES0KPNYbRRMwUr3xmCeCpLfB27HgXnpaT-PfGrjXPrh/s0/rock.jpg" style="display: block; padding: 1em 0; text-align: center; clear: left; float: left;"><img alt="" border="0" data-original-height="450" data-original-width="300" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiBMKgw8RfNOkta9qNdjQ0axYduTAoPN5t1fqefE76B1IZlxtwc1bL1eGx9OgrX7ayyMfyVw6-UrNlHGP41BWLMxIi53ES0KPNYbRRMwUr3xmCeCpLfB27HgXnpaT-PfGrjXPrh/s0/rock.jpg"/></a></div>Your savings beleive it or not affect the way you stand, the
way you walk and tone of your voice. In short your physical well-being and self-confidence.
A man without savings is always running. He must. He must
take the first job offered, or nearly so. He sits nervously on life's
chairs because any small emergency throws him into the hands
of others.
‘Without savings, a man must be too grateful. Gratitude is a
fine thing in its place. But a constant state of gratitude is a hor-
rible place in which to live.
A man with savings can walk tall. He may appraise opportuni-
ties in a relaxed way, have time for judicious estimates and not be
rushed by economic necessity.
A man with savings can afford to resign from his job, if his
principles so dictate, And for this reason he'll never need to do
so. A man who ean afford to quit is much more useful to his company, and therefore more promotable. He can afford to give his
Company the benefits of his most candid judgments.
A man always concerned about necessities, such as food and,
rent, can’t afford to think in long-range career terms. He must
dart to the most immediate opportunity for ready cash, Without
savings, he will spend a lifetime of darting, dodging.
A man with savings can afford the wonderful privilage of
living generous in family or neighborhood emergencies. He
can take a level stare into the eyes of any man, friend, stranger
or enemy. It shapes his personality and character.
The ability to save has nothing to do with the size of income. Many high-income people who spend it all are on a treadmeill, darting through life like mnnows.
“Take waste outof your spending; you'll drive the
waste out of your life.”
Will Rogers put it this way, “I'd rather have the company of
Janitor, living on what he earned last year... than an actor
‘spending what he'll earn next year.”
If you don’t need money for college, a home or retirement
then save for self-confidence. The state of your savings does have
a lot to do with how tall you walk.
King Arthurhttp://www.blogger.com/profile/02240499194585217919noreply@blogger.com0tag:blogger.com,1999:blog-28945654.post-22845935744671778172021-08-23T12:54:00.006-06:002021-11-07T10:35:12.003-07:00Alberta electricity up 38% year on yearYes, in Alberta electricity went from 6.4 to 8.75 cents / kWh in 2021. This is my solution to the problem -- buy 38% less electricty
<div class="separator" style="clear: both;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiESdFbQnIk2vXz170idL4GeI0s9Z5wFqtsZY-FKbgYzfoiitYReg-pw6kW8Zv2tZ2NX-ahopJQyaDPm6x6S5s0JdXotTLq56siPOtb0dejzERwe_IriREUWqKNRrstTCXNufD0/s4032/IMG_20210818_194736.jpg" style="display: block; padding: 1em 0; text-align: center; clear: right; wrap: right;"><img alt="" border="0" width="400" data-original-height="3024" data-original-width="4032" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiESdFbQnIk2vXz170idL4GeI0s9Z5wFqtsZY-FKbgYzfoiitYReg-pw6kW8Zv2tZ2NX-ahopJQyaDPm6x6S5s0JdXotTLq56siPOtb0dejzERwe_IriREUWqKNRrstTCXNufD0/s400/IMG_20210818_194736.jpg"/></a></div><div class="separator" style="clear: both;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjTcGsTUn1810jGpPcqABAs9vdfobfPrOHd7OVJm0JMkA1ZKZoFdyZIsEJ8T1jS0JVO2YvpFKA-CoUJb5St1qhjeOXnVtDTGqHvyGK3_mNoWGQa9ziwaaMfbK4XHMM5IGbUMiW4/s4032/IMG_20210818_194623.jpg" style="display: block; padding: 1em 0; text-align: center; clear: right; wrap: right;"><img alt="" border="0" height="400" data-original-height="4032" data-original-width="3024" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjTcGsTUn1810jGpPcqABAs9vdfobfPrOHd7OVJm0JMkA1ZKZoFdyZIsEJ8T1jS0JVO2YvpFKA-CoUJb5St1qhjeOXnVtDTGqHvyGK3_mNoWGQa9ziwaaMfbK4XHMM5IGbUMiW4/s400/IMG_20210818_194623.jpg"/></a></div>
I bought 2 lithium battery packs. Each battery pack contains 16 280 Ahr cells. I put Eve cells in the golf cart and the Bad Boy has Lishen cells. The lishen cost me C$160 (206K sats) / cell and the Eve cost me C$180 (232K sats)/ cell. Two 100 Amp overkill BMS was C$344 (444K sats). Then I went a bought a MPP LVX-6048 direct from Taiwan for $1182 US or $1500 Canadian (2M sats). 4 20 #2 AWG wire was C$210 and MC4 wire with DC disconnects was $260 Total = C$7750 <b>(10 million satoshi</b>s)King Arthurhttp://www.blogger.com/profile/02240499194585217919noreply@blogger.com0tag:blogger.com,1999:blog-28945654.post-40619964998266448212021-05-22T08:37:00.073-06:002021-05-22T11:07:13.610-06:00 How to give money to 1 billion people<p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgkGFUVytVeeb0OJGF1C3kDV676mz7Nf8RyCUSrawjpplUnCRiFSlOPGEffUPqg3BVNX1m2d8_CXOWIILigq-Qwee_Q71nEtZDp_v701PLpqi9xLnD9qlL1ObZeOmpW6SdriYEt/s256/cantillon+effect.png" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="256" data-original-width="256" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgkGFUVytVeeb0OJGF1C3kDV676mz7Nf8RyCUSrawjpplUnCRiFSlOPGEffUPqg3BVNX1m2d8_CXOWIILigq-Qwee_Q71nEtZDp_v701PLpqi9xLnD9qlL1ObZeOmpW6SdriYEt/s0/cantillon+effect.png" /></a></div><br />How do you give money to 1 billion people fairly? Most people think you have to have a benevolent dictator; but I would like to show you what bitcoin has done in the last 11 years without a central controller (dictator). We just passed the 1 trillion US market cap. <div><br /></div><div>Most people think that bitcoin became money on May 22, 2010 (10,000 bitcoin for pizza) which would make bitcoin 11 years old today. There is now 100 million bitcoin users, but that doesn't mean equitable distribution. (everyone doesn't hold 0.1 bitcoin). </div><div><br /></div><div>The reason Satoshi created bitcoin was to stop the bailout of banks (money printing). This cantillon effect of money printing causes certain people to have more capital than other people. As we have seen this last year, the rich get richer as the poor get handouts via the inflation tax. This teaches them to not rely on themselves, but on the government handouts that buy less and less real goods<p></p><p>Now that bitcoin has caught on we have seen what effect influencers have on bitcoin. Elon Musk tweeted last week about how much energy bitcoin was using and that caused the price to fall. How can one man with 55 million twitter followers cause so much havoc? It has to do with network effects and that people like to follow each other. Bitcoin now can be used as value transfer because network effects. Everybody knows someone who values bitcoin so if they accept it they know they can give it to someone else. This cannot be said for other bitcoin subsidiaries. To go from an idea to everybody know someone who in real life has something in 11 years is amazing. Would you believe bitcoin doesn't have an advertising budget or paid influences. Amazing. At current rate of growth 1 billion people will own bitcoin in 4 years. </p></div>King Arthurhttp://www.blogger.com/profile/02240499194585217919noreply@blogger.com0tag:blogger.com,1999:blog-28945654.post-27407438282021052192021-02-11T11:24:00.000-07:002021-02-11T11:24:08.314-07:00Help! Canada's spiraling deficit.<p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjX-ZsZLjDmLiqV1DoXuRpQAb4PdjvjsJEKoJ2h0yNgDYqVUa0rqviP9_GQ7loEIxRWpZ5vd6tdREUOKZtrohyphenhyphenJ1xzDP9qIMDHazD5ZC-PI7B4_Or7Y9JVi2hL0U-bE2uC-TWnG/s768/BOC.png" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="GDP" border="0" data-original-height="635" data-original-width="768" height="331" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjX-ZsZLjDmLiqV1DoXuRpQAb4PdjvjsJEKoJ2h0yNgDYqVUa0rqviP9_GQ7loEIxRWpZ5vd6tdREUOKZtrohyphenhyphenJ1xzDP9qIMDHazD5ZC-PI7B4_Or7Y9JVi2hL0U-bE2uC-TWnG/w400-h331/BOC.png" width="400" />N</a></div>As a Canadian, this chart sobers me. Gross Domestic Product is how much goods and services your country produces. Yes, it includes the products which are self consumed like food. As you can see via the chart Canada has had a 456% balance sheet growth in 2020. This is equal to the increase in the price of Bitcoin over the last year. <p></p><p>Why have we done this to ourselves? A lot of the blame has to go to the Central Bank of Canada. They keep telling Canadians that inflation is less than 2% so borrow as much as you can. In fact the consequence of you taking on to much mortgage is not that you will lose your house, but rather that you will have to use the governments forbearance program. Without any consequence for your bad decision people are being encourage to make more bad decisions. </p><p>The bank of Canada would like you to believe Bitcoin is not an unit of account or a means of exchange. They have given up on the idea that it is not a store of value. (Currently the Canadian dollar stands at 8th place on the Store of Value chart and Bitcoin at <a href="https://www.fiatmarketcap.com/" target="_blank">12th place</a>.) In fact, as Bitcoin replaces the USD as the safest place to store your value they start to realize the if Bitcoin doubles its market cap more people will use Bitcoin than the Canadian dollar as money. Whether Bitcoin is used as a means of exchange or a unit of account is immaterial. The savers of society just want to hold onto money for a rainy day. Whether you have to convert your Bitcoin into dollars or just buy your Tesla via Bitcoin is immaterial. Once the Bank of Canada realizes that inflation is a lagging indicator and try to stop inflation they will realize that their tool kit boils down to one weapon and that is interest rates. </p><p>The question isn't which company or person will add Bitcoin to their treasury next; but when will the Bank of Canada add Bitcoin to their balance sheet? Bitcoin has fully refuted the dangerous Keynesian dogma that money needs government backing to work.</p>King Arthurhttp://www.blogger.com/profile/02240499194585217919noreply@blogger.com0tag:blogger.com,1999:blog-28945654.post-24441910365183585892020-12-16T18:07:00.002-07:002020-12-17T06:50:45.341-07:00Open Letter to family and friends<h2 style="text-align: center;"><span style="font-family: arial;"> Money is a Touchy Subject</span></h2><p style="line-height: 100%; margin-bottom: 0cm;"><span style="font-family: arial;"></span></p><div class="separator" style="clear: both; text-align: center;"><span style="font-family: arial;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgG06jsjWkhTGIXnrgUp-3HE3MqvRje582ENgg4bsdr0dn0vHt_KI60u4X5F6c3ziz3GN6DuGN7GGmdbVnxmeS2P9IW1jhLU3qDxTS5HdtdxZcGdFFDERbOnZHHnNu8_1ZFlRnh/s611/Arthur.png" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="611" data-original-width="580" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgG06jsjWkhTGIXnrgUp-3HE3MqvRje582ENgg4bsdr0dn0vHt_KI60u4X5F6c3ziz3GN6DuGN7GGmdbVnxmeS2P9IW1jhLU3qDxTS5HdtdxZcGdFFDERbOnZHHnNu8_1ZFlRnh/w190-h200/Arthur.png" width="190" /></a><span style="text-align: left;">Most people don’t like to talk about
it; either because they have little and are ashamed, or because they
have lots and are afraid. Even fewer people know anything about the
nature of our money, which is quite shocking — after all, money is
an essential tool of our civilization. Money can be thought of as evil, but I prefer thinking that the love of money is evil. Money is like multiplying together time and talent. We, as a society, need Bitcoin more than it needs us. Money is an essential tool for any large-scale co-operation. It is a measuring device, a solution to the problem of barter, a vehicle to store your wealth over space and time, and many other things. In short, money is essential for a complex society to function. However, a series of financial crisis and a recent event like Covid-19 has clearly shown that our money is fundamentally broken.</span></span></div><p></p><blockquote>2009-02-11 - <a href="https://satoshi.nakamotoinstitute.org/posts/p2pfoundation/1/">Link Satoshi Nakamoto<br /></a></blockquote><blockquote><blockquote>
<p>"<i>The root problem with conventional currency is all the trust
that's required to make it work. The central bank must be trusted not to
debase the currency, but the history of fiat currencies is full of
breaches of that trust."</i></p></blockquote></blockquote><p>Covid-19
highlighted the ridiculousness of our financial and monetary system.
In a matter of days, we went from printing billions to trillions of dollars. The Fed wants inflation at 2% and we just believe that this is a normal idea -- it is not. 25 years ago it cost me $300 dollars a month to leave my Farmer Joe Movie on the Internet -- now it costs me nothing on <a href="https://www.youtube.com/watch?v=CpvnqU7Hpyk" target="_blank">Youtube</a>, in fact I get paid. The Fed's lingo is fantasy -- the logic of forcing 2% inflation while printing 64.5% more M1 currency in 2020. That goes for the Modern Money Theory as well (think <a href="https://en.wikipedia.org/wiki/John_Maynard_Keynes">John Maynard Keynes</a>) Actually Austrian Economics is closer to the truth.</p><p>Scarcity has value.</p><p>However, as a store of value, Bitcoin is superior to land (and gold, for that matter) in many ways. No other asset can be magically beamed across the internet or other communication channels. Bitcoin has the highest value density of all assets since it is pure information. You could have a billion dollars worth of bitcoin in your head, retaining your wealth, even if stripped naked at a border crossing.</p><p>While there are many misconceptions about Bitcoin, the following are probably the most prominent:</p><p>Bitcoin is too expensive</p><p>Bitcoin is old technology</p><p>Bitcoin is too complicated</p><p>Bitcoin is risky and speculative</p><p>Bitcoin will be replaced by another coin</p><p>Let’s briefly go through these one-by-one.</p><p>Bitcoin is too expensive: To the contrary! Don’t let the “I need a whole coin” unit bias fool you. Bitcoin is still very cheap. However, if you think that way, you’re in good company. People have been thinking that bitcoin is too expensive since its inception. It will always be too expensive if your perspective is still rooted in fiat money.</p><p>Bitcoin is old technology: First of all, Bitcoin is a monetary invention rather than a technological one. It aims to replace the monetary base layer of our society — it isn’t the next viral app for your smartphone. Second of all, Bitcoin is improving and evolving at a rapid pace. It’s virtually impossible to keep up with all developments across the board. I just added a Lightning wallet to my node. Click <a href="lnbc1p0aj392pp5usjfrjk7dzkv2s54ts8nqc5ugg996wj3wg69ylke2snp2ph53tksdq9u2d2zxqr3jscqpjsp59ntht9jgmck6e8234t9uyd707402mmpe9ml52arjw8mpn4k6406q9qy9qsqu9ka4pv59pl4swauwd8drjer2ljfhcet4es7dge5fjar454w75f5jpm25wz5jf90me83nh2f58exyq82x2fcjvpz5c9nz8lakvwt0kgp6yaege">here</a> to give me some sats.</p><p>Bitcoin is too complicated: Granted, Bitcoin isn’t exactly easy to understand. (But neither is the traditional financial system.) Luckily, as with all other complex technologies, usage doesn’t require complete understanding. If it would, you probably couldn’t use your smartphone, use the internet, or drive your car. And in terms of usage, Bitcoin becomes easier every day. Just like using the internet a couple of decades ago wasn’t exactly easy, using Bitcoin today can be challenging at times.</p><p>Bitcoin is risky and speculative: Don’t speculate. Stay humble and start stacking sats. If that’s not good enough for you, how about the fact that a portfolio of 5% bitcoin and 95% cash outperformed stocks on risk and returns every year for the past 6 years? Still too risky?</p><p>Bitcoin will be replaced by another coin: Bitcoin is the undisputed king and the only serious contender for digital scarcity. It has the best network effects, the highest liquidity, and the highest security by many orders of magnitude. Nothing else comes close, and I don’t want to waste any digital ink naming any other coin. All I will say about Bitcoin’s copy-cats is this: do not touch them. While the Siren’s song of shitcoins is hard to resist, they are called shitcoins for a reason. Bitcoin can’t be copied. It is a path-dependent-invention in a winner-takes-all environment. This is hard to explain without reading "The Bitcoin Standard" by Saifedean Ammous or better yet read a book I helped with, "Thank God for Bitcoin" by Jimmy Song.</p><p><br /></p><p><br /></p><p><br /></p>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjP63YVaylX4aafij7ULRnkKbt3vPhPsPdojdO9apj29VQjwFKBItaBCDXi-IduYsYX_JS0H9TmlHqBOZY0qZAv_jdY3pQEztOzIUibtVqhIldLdeMoDkzjOwLq7vxAltH593QJ/s1600/img352.jpg" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="1133" data-original-width="1343" height="269" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjP63YVaylX4aafij7ULRnkKbt3vPhPsPdojdO9apj29VQjwFKBItaBCDXi-IduYsYX_JS0H9TmlHqBOZY0qZAv_jdY3pQEztOzIUibtVqhIldLdeMoDkzjOwLq7vxAltH593QJ/s320/img352.jpg" width="320" /></a>What does the Bitcoin halving mean?</div>
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Well, the day has finally arrived. It has taken 11 years, 4 months, 9 days or 5,971,680 minutes. The minutes value might confuse you because who counts 11 years in minutes. Well let me explain. <br />
When Satoshi first launched Bitcoin- Jan 3, 2009 he decided that the 21 million Bitcoins would be released gradually so that he and Hal Finley wouldn't get to keep all the coins. Satoshi thought the fairest way to do this was via a gradually predictable disbursement of money. Not like today when most government are just helicoptering money in and giving it mostly to the banks.<br />
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In fact, it was on May 22, 2010, when Laszlo Hanyecz made the first real-world transaction by buying two pizzas in Jacksonville, Florida for 10,000 Bitcoin. So, it took over 1 year for someone to consider Bitcoin worth something in the real word. Bitcoiners could celebrate Bitcoin pizza day, and some do, but most of us celebrate today -- the Bitcoin halving. The reason is because Satoshi decided that for every 210,000 blocks mined the Block Subsidy would be cut in half. So, yes once the block 630,000 is found the reward for finding the nonce will get cut in half. This indirectly says that if you buy Bitcoin before the halving epoch you got cheap Bitcoins. Only 1,312,500 Bitcoins will be created in the next 4 years, which is now equal to the stock to flow model of gold. So, the question now becomes, "Do you like gold or Bitcoin.<br />
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<a href="https://bitcoin.clarkmoody.com/dashboard/" target="_blank"> Bicoin Info</a> link</div><div style="text-align: center;"><span style="text-align: left;">Getting the reward subsidy is a lot easier then scraping together the transactions fees because on chain money transactions can occur at 1 sat per byte if the network is handling less that 3.5 transactions per second. It is only when a lot of wallets want to exchange Bitcoins that the transactions fees are why the miners try to find the nonce. On what block did you say I do? or are you like me and got married before there were Bitcoin blocks being formed. Currently over 10 billion US dollars change hands every day via the Bitcoin network.</span></div>
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King Arthurhttp://www.blogger.com/profile/02240499194585217919noreply@blogger.com0tag:blogger.com,1999:blog-28945654.post-58243347687217605572020-04-08T23:30:00.000-06:002020-04-12T05:15:55.166-06:00This Easter reminds me of a passover long ago.<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgNFadtlMrgpsXaYUqYnFJ3OsyJ6sHr5_yA0JHc42Me1xMGDSP3jG1yvszwExNNgzrXCj2giPgNrhweuLtaYuEwhuYAQSSaBEj6cFNP_wY9HUAS_alEimlc9GZx36XTbfXNAoy7/s1600/P1010414.JPG" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="" border="0" data-original-height="900" data-original-width="1600" height="180" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgNFadtlMrgpsXaYUqYnFJ3OsyJ6sHr5_yA0JHc42Me1xMGDSP3jG1yvszwExNNgzrXCj2giPgNrhweuLtaYuEwhuYAQSSaBEj6cFNP_wY9HUAS_alEimlc9GZx36XTbfXNAoy7/s320/P1010414.JPG" title="Full Moon" width="320" /></a></div>
Over 3500 years ago the Lord commanded the Israelite in Egypt “.<i>..none of you shall go out of the door of his house until morning..</i>.”. 2000 years ago<i> "</i><span style="background-color: rgba(230 , 236 , 240 , 0.7); color: #14171a; font-family: , , "blinkmacsystemfont" , "segoe ui" , "roboto" , "ubuntu" , "helvetica neue" , sans-serif; font-size: 15px; white-space: pre-wrap;"><i>John sees Jesus coming unto him, and says, Behold the Lamb of God, which taketh away the sin of the world</i>." </span><span style="background-color: rgba(230 , 236 , 240 , 0.7); color: #14171a; font-family: , , "blinkmacsystemfont" , "segoe ui" , "roboto" , "ubuntu" , "helvetica neue" , sans-serif; font-size: 15px; white-space: pre-wrap;">John 1:29 </span><br />
<span style="background-color: rgba(230 , 236 , 240 , 0.7); color: #14171a; font-family: , , "blinkmacsystemfont" , "segoe ui" , "roboto" , "ubuntu" , "helvetica neue" , sans-serif; font-size: 15px; white-space: pre-wrap;">Today a lot of us are locked in our houses trying to figure out the meaning of life. Some would say, "We are self isolating trying to avoid getting the Corona Virus". I would say, Fear makes me think harder about the meaning of life". Are we alive just to watch Netflix? Realizing the truth about other people's lives is important, but realizing that we need a relationship with the Creator is crucial. Bible vs Netflix</span><br />
<span style="background-color: rgba(230 , 236 , 240 , 0.7); color: #14171a; font-family: , , "blinkmacsystemfont" , "segoe ui" , "roboto" , "ubuntu" , "helvetica neue" , sans-serif; font-size: 15px; white-space: pre-wrap;">My friend Daniel posted a picture about the moon he saw today and I couldn't help but wonder what the lighting was like when the Angel of Death roamed the streets of Egypt. Having just experienced 14 days of lock up, and now it looks like another 2 months of self isolation, a lot of intro-inspection can take place. Especially for someone like me who has a low time preference. Trying to plan for a recession is hard work. Besides, I keep thinking <i>"is this really happening?"</i> </span><br />
<span style="background-color: rgba(230 , 236 , 240 , 0.7); color: #14171a; font-family: , , "blinkmacsystemfont" , "segoe ui" , "roboto" , "ubuntu" , "helvetica neue" , sans-serif; font-size: 15px; white-space: pre-wrap;">Living on a farm you get to see His seasons more clearly. Sure I download the weather app but with so many bad hay bales in my hay shed I think should I believe more on what the horizon is telling me rather than some meteorologist? And that is how I am starting to live. </span><br />
<span style="background-color: rgba(230 , 236 , 240 , 0.7); color: #14171a; font-family: , , "blinkmacsystemfont" , "segoe ui" , "roboto" , "ubuntu" , "helvetica neue" , sans-serif; font-size: 15px; white-space: pre-wrap;">I get the best hard facts data I can and rely on that for important decisions. Other people might help me see what is coming, but it is up to me to know if I should cut the hay or, in a spiritual sense, believe that God whats us to help our neighbor.</span><br />
<span style="background-color: rgba(230, 236, 240, 0.7);"><span style="color: #14171a; font-family: , , "blinkmacsystemfont" , "segoe ui" , "roboto" , "ubuntu" , "helvetica neue" , sans-serif;"><span style="font-size: 15px; white-space: pre-wrap;">The dream Nebuchadnezzar had about God's plan for the world has been running through my head. Especially the part of iron not mixing the clay. Will </span></span><a href="https://www.benabraham.com/html/the_10_horns.html" style="color: #14171a; font-family: system-ui, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Ubuntu, "Helvetica Neue", sans-serif; font-size: 15px; white-space: pre-wrap;" target="_blank">Italy, France and German</a><span style="color: #14171a; font-family: , , "blinkmacsystemfont" , "segoe ui" , "roboto" , "ubuntu" , "helvetica neue" , sans-serif;"><span style="font-size: 15px; white-space: pre-wrap;">y really not get along? The hard part is figuring out how His Story (prophecy) affects my timeline today. I don't live in Europe so do I have to worry about how the French and the Italians get along? </span></span></span><span style="color: #14171a; font-family: , , "blinkmacsystemfont" , "segoe ui" , "roboto" , "ubuntu" , "helvetica neue" , sans-serif;"><span style="font-size: 15px; white-space: pre-wrap;">Nebuchadnezzar's Dream happened in 603 BC so understanding the prophetic implications via Daniel's 2603 year old eyes is hard for me to do. I have been relying on others like <a href="https://www.google.com/url?q=https://drive.google.com/file/d/1mSX5hzLjGFT4Rh0kzam4fDZgXWCG5JxZ/view&sa=D&source=hangouts&ust=1586486346003000&usg=AFQjCNFoz7qyqwyx877GPmTgCD44Wxc5Qg" target="_blank">Bo</a> to help me get this right. </span></span><br />
<span style="color: #14171a;"><span style="font-size: 15px; white-space: pre-wrap;">From my perspective we have arrived at a period of time where morals are breaking down. The Canadian government thinks it can helicopter money into the economy without consequences. Justin even tried to print money without the House of Commons authorizing it. Renters don't have to rent anymore. Employees get free money and probably worst of all mortgages don't have to be paid. Sure I have been called a "</span><i style="font-size: 15px; white-space: pre-wrap;">Bitcoin Bozo" </i><span style="font-size: 15px; white-space: pre-wrap;">on Twitter, but this faith people have in government more than the Creator has got me baffled. To me it is now time for the season of Matthew 24:4 "</span></span><span style="font-family: "helvetica neue" , "verdana" , "helvetica" , "arial" , sans-serif;"><i>Take heed that no man deceive you. 5 For many shall come in my name, saying, I am Christ; and shall deceive many." So many of us throw out the baby with the bath water, ie. Don't bother to understand the truth. We must all learn to understand the seasons. We must learn to trust God and put our faith in Him and not in world leaders. May God pass over your household this Easter season. Keep your faith strong.</i></span>King Arthurhttp://www.blogger.com/profile/02240499194585217919noreply@blogger.com1tag:blogger.com,1999:blog-28945654.post-4165069112584790192020-03-06T09:59:00.000-07:002020-03-06T09:59:54.411-07:00Affiliated Links<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh4MPN702OEuGeOq4C3mKLHKZ4m915Sn9wNksJZRH2SGkbFPgiIljhCuwcO0KCNnarlxH6EZN6w7hW-6wQc3n_Z8iXM8Hl_mkimJ9uufAs4ZITeVKwUGs4KZsuFl2k7R7slrwio/s1600/scrnli_05_03_2020_11-03-35.png" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="" border="0" data-original-height="557" data-original-width="983" height="181" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh4MPN702OEuGeOq4C3mKLHKZ4m915Sn9wNksJZRH2SGkbFPgiIljhCuwcO0KCNnarlxH6EZN6w7hW-6wQc3n_Z8iXM8Hl_mkimJ9uufAs4ZITeVKwUGs4KZsuFl2k7R7slrwio/s320/scrnli_05_03_2020_11-03-35.png" title="Coinsquare rewards" width="320" /></a></div>
A lot of people think you have to spend a whole lot of money to get into Bitcoin. This is not true. I have used 2 websites to give me $10 each a month in Bitcoin value. One is <a href="https://use.foldapp.com/r/KNekxS0y" target="_blank">Fold</a> on which I have 53,360 satoshis and the other <a href="http://coinsquare.com/register?r=xwAFY" target="_blank">Coinsquare</a> which I have received 43,775 sats (see image). Getting 100,000 in satoshises might not seem like much, but hey it is $10 / month and if Bitcoin doubles in 1 year it is like another free golf game. Yes I am down here in California golfing. It costs me U$25 per game. I have a hard time paying that much to sink a white ball into a little hole.<br />
Affiliate links works a lot like the click through links on the ads you see on this website (if you click on the ad and buy something I get paid --almost a dollar) except clicking on the link lets you know that I have tried out the service and thereby you should feel more comfortable trying it out also.<br />
Come to think of it, I am not really happy with Coinsquare, even though they gave me $10; they took $100 in fees last month when I understood they wheren't going to charge me anything.King Arthurhttp://www.blogger.com/profile/02240499194585217919noreply@blogger.com0tag:blogger.com,1999:blog-28945654.post-44915502008134580632020-02-06T07:10:00.004-07:002020-02-06T07:11:38.169-07:00Understanding Bitcoin<div class="graf graf--p graf--empty" name="83f6">
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh87ZvPgEN71OkeqplFotM-O-JTVRh_ZoA5dh8qX5aixLqnvm9iIZS9YwBHBR9HvVNJY9I3sAC6kIlbieX6tOmN5i8C_68zN6UskhDggw3lqSbGtu2xelhtYAFH4KWBlUxD0FI4/s1600/bitccoin.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><span style="font-family: inherit;"><img alt="Bitcoin ATM" border="0" data-original-height="1268" data-original-width="987" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh87ZvPgEN71OkeqplFotM-O-JTVRh_ZoA5dh8qX5aixLqnvm9iIZS9YwBHBR9HvVNJY9I3sAC6kIlbieX6tOmN5i8C_68zN6UskhDggw3lqSbGtu2xelhtYAFH4KWBlUxD0FI4/s320/bitccoin.jpg" title="" width="248" /></span></a></div>
<span style="font-family: inherit;"><span style="background-color: white; color: rgba(0 , 0 , 0 , 0.84); font-size: 21px; letter-spacing: -0.004em;">The last few days I have spent educating people about Bitcoin. Basically, I am teaching the technically challenged about how Bitcoin works under the hood. My friend Ted says “There is too much misinformation out there.” If you head over to </span><a class="bh cp gv gw gx gy" href="http://www.badbitcoin.org/" rel="noopener nofollow" style="-webkit-tap-highlight-color: transparent; background-image: url("data:image/svg+xml; background-position: 0px calc(1em + 1px); background-repeat: repeat-x; background-size: 1px 1px; box-sizing: inherit; font-size: 21px; http: //www.w3.org/2000/svg\"><line x1=\"0\" y1=\"0\" x2=\"1\" y2=\"1\" stroke=\"rgba(0, 0, 0, 0.84)\" /></svg>"); letter-spacing: -0.004em; text-decoration-line: none;" target="_blank">www.BadBitcoin.org</a><span style="background-color: white; color: rgba(0 , 0 , 0 , 0.84); font-size: 21px; letter-spacing: -0.004em;"> </span><span style="background-color: white; color: rgba(0 , 0 , 0 , 0.84); font-size: 21px; letter-spacing: -0.004em;">you would almost have to agree with him. People like to get information from whomever they know so I will do this post. Social Media does help people learn, but people don’t want to take the time to learn something complicated or even teach something complicated unless they are learning from a friend. So, here is my contribution to the Internet so that Ted (whom I know irl) can understand bitcoin.</span></span><br />
<em class="ha" style="background-color: white; box-sizing: inherit; color: rgba(0, 0, 0, 0.84); font-size: 21px; font-weight: 700; letter-spacing: -0.004em;"><span style="font-family: inherit;">How do I acquire Bitcoin?</span></em><br />
<span style="background-color: white; color: rgba(0 , 0 , 0 , 0.84); font-family: inherit; font-size: 21px; letter-spacing: -0.004em;">You work for it or sell something you own.</span><br />
<em class="ha" style="background-color: white; box-sizing: inherit; color: rgba(0, 0, 0, 0.84); font-size: 21px; font-weight: 700; letter-spacing: -0.004em;"><span style="font-family: inherit;">Why should I acquire Bitcoin?</span></em><br />
<span style="background-color: white; color: rgba(0 , 0 , 0 , 0.84); font-family: inherit; font-size: 21px; letter-spacing: -0.004em;">You need to get some product or you want someone to work for you.</span><br />
<span style="background-color: white; color: rgba(0 , 0 , 0 , 0.84); font-family: inherit; font-size: 21px; font-weight: 700; letter-spacing: -0.004em;">Is Bitcoin really that simple?</span><br />
<span style="background-color: white; color: rgba(0 , 0 , 0 , 0.84); font-family: inherit; font-size: 21px; letter-spacing: -0.004em;">Yes! After plugging your Rasberry Pi4 onto the Internet, you download</span><span style="background-color: white; color: rgba(0 , 0 , 0 , 0.84); font-family: inherit; font-size: 21px; letter-spacing: -0.004em;"> </span><a class="bh cp gv gw gx gy" href="http://www.btcpayserver.org/" rel="noopener nofollow" style="-webkit-tap-highlight-color: transparent; background-color: white; background-image: url("data:image/svg+xml; background-position: 0px calc(1em + 1px); background-repeat: repeat-x; background-size: 1px 1px; box-sizing: inherit; font-family: inherit; font-size: 21px; http: //www.w3.org/2000/svg\"><line x1=\"0\" y1=\"0\" x2=\"1\" y2=\"1\" stroke=\"rgba(0, 0, 0, 0.84)\" /></svg>"); letter-spacing: -0.004em; text-decoration-line: none;" target="_blank">www.BTCpayserver.org</a><span style="background-color: white; color: rgba(0 , 0 , 0 , 0.84); font-family: inherit; font-size: 21px; letter-spacing: -0.004em;">. Make sure you have Layer 2 — the Lightingnetwork installed, so you don’t have to pay a lot for on chain transactions.</span><span style="background-color: white; color: rgba(0 , 0 , 0 , 0.84); font-family: inherit; font-size: 21px; letter-spacing: -0.004em;"> </span><em class="ha" style="background-color: white; box-sizing: inherit; color: rgba(0, 0, 0, 0.84); font-family: inherit; font-size: 21px; letter-spacing: -0.004em;">Note</em><span style="background-color: white; color: rgba(0 , 0 , 0 , 0.84); font-family: inherit; font-size: 21px; letter-spacing: -0.004em;">: Bitcoin is limited to 5 transactions per second and if you want to guarantee that your transactions makes its way onto the next block you might have to pay a fee of more than 180 Satoshies. Then you make a segwit on-chain wallet either on your RasberryPi4 or on your cellphone (or both) making sure to write down your keys. Most people call them</span><span style="background-color: white; color: rgba(0 , 0 , 0 , 0.84); font-family: inherit; font-size: 21px; letter-spacing: -0.004em;"> </span><span class="gj gz" style="background-color: white; box-sizing: inherit; color: rgba(0 , 0 , 0 , 0.84); font-family: inherit; font-size: 21px; font-weight: 700; letter-spacing: -0.004em;">Private Keys </span><span style="background-color: white; color: rgba(0 , 0 , 0 , 0.84); font-family: inherit; font-size: 21px; letter-spacing: -0.004em;">because if you let anyone else know your 24 words your money might move to another wallet. You do have the option of making your wallet usable via 2 to 5 private keys. Bitcoin has been improving a lot thanks to the cyberpunks over at</span><span style="background-color: white; color: rgba(0 , 0 , 0 , 0.84); font-family: inherit; font-size: 21px; letter-spacing: -0.004em;"> </span><a class="bh cp gv gw gx gy" href="https://github.com/bitcoin/bitcoin" rel="noopener nofollow" style="-webkit-tap-highlight-color: transparent; background-color: white; background-image: url("data:image/svg+xml; background-position: 0px calc(1em + 1px); background-repeat: repeat-x; background-size: 1px 1px; box-sizing: inherit; font-family: inherit; font-size: 21px; http: //www.w3.org/2000/svg\"><line x1=\"0\" y1=\"0\" x2=\"1\" y2=\"1\" stroke=\"rgba(0, 0, 0, 0.84)\" /></svg>"); letter-spacing: -0.004em; text-decoration-line: none;" target="_blank">github</a><span style="background-color: white; color: rgba(0 , 0 , 0 , 0.84); font-family: inherit; font-size: 21px; letter-spacing: -0.004em;">. </span><br />
<span style="background-color: white; color: rgba(0 , 0 , 0 , 0.84); font-family: inherit; font-size: 21px; letter-spacing: -0.004em;"><br /></span>
<span style="background-color: white; color: rgba(0 , 0 , 0 , 0.84); font-family: inherit; font-size: 21px; letter-spacing: -0.004em;">Only 30 million entities have bothered setting up a wallet because of a number of different reasons.</span><br />
<span style="background-color: white; color: rgba(0 , 0 , 0 , 0.84); font-family: inherit; font-size: 21px; letter-spacing: -0.004em;"><br /></span>
<span style="background-color: white; color: rgba(0 , 0 , 0 , 0.84); font-family: inherit; font-size: 21px; letter-spacing: -0.004em;">1. </span><span style="background-color: white; color: rgba(0 , 0 , 0 , 0.84); font-family: inherit; font-size: 21px; font-weight: 700; letter-spacing: -0.004em;">It is too hard.</span><br />
<span style="background-color: white; color: rgba(0 , 0 , 0 , 0.84); font-family: inherit; font-size: 21px; font-weight: 700; letter-spacing: -0.004em;"><br /></span>
<span style="background-color: white; color: rgba(0 , 0 , 0 , 0.84); font-family: inherit; font-size: 21px; letter-spacing: -0.004em;">That is a valued concern. I have been offering my time at 1 million Satoshies per hour (.01BTC or C$100), but now that Bitcoin is at C$13k per 1 BTC, I am thinking of lowering my wage. $130 / hour seems a little steap for some reason. I just solve computer problems I am not a C+ / javascript programer. It’s it weird how hard money causes people to lower their wage instead of always expecting a wage increase.</span></div>
<div class="graf graf--p" name="314c">
<div class="gh gi bz at gj b gk gl gm gn go gp gq gr gs gt gu dg" data-selectable-paragraph="" id="21e5" style="background-color: white; box-sizing: inherit; color: rgba(0, 0, 0, 0.84); font-size: 21px; letter-spacing: -0.004em; line-height: 1.58; margin-bottom: -0.46em; margin-top: 2em; word-break: break-word;">
<span class="gj gz" style="box-sizing: inherit; font-weight: 700;"><span style="font-family: inherit;">2. Who is it backed by?</span></span></div>
<div class="gh gi bz at gj b gk gl gm gn go gp gq gr gs gt gu dg" data-selectable-paragraph="" id="2ce5" style="background-color: white; box-sizing: inherit; color: rgba(0, 0, 0, 0.84); font-size: 21px; letter-spacing: -0.004em; line-height: 1.58; margin-bottom: -0.46em; margin-top: 2em; word-break: break-word;">
<span style="font-family: inherit;">We the users. The evidence for this lies on July 21, 2017 which proved that the users of Bitcoin proved that they were in control. The story goes — the miners where content to keep on slowing the transactions throughput thereby increasing the <a class="bh cp gv gw gx gy" href="https://jochen-hoenicke.de/queue/#0,24h" rel="noopener nofollow" style="-webkit-tap-highlight-color: transparent; background-image: url("data:image/svg+xml; background-position: 0px calc(1em + 1px); background-repeat: repeat-x; background-size: 1px 1px; box-sizing: inherit; http: //www.w3.org/2000/svg\"><line x1=\"0\" y1=\"0\" x2=\"1\" y2=\"1\" stroke=\"rgba(0, 0, 0, 0.84)\" /></svg>"); text-decoration-line: none;" target="_blank">mempool</a> thus making the users pay more fees to have their transactions included in the next block. This Bitcoin Improvement Proposal (BIP) 91 forced a lot of us Bitcoin users to run our own node even though we were content to allow the miners to do the hard work. After the Segregated Witness upgrade was activated at block 477120, the amount of data per transaction was reduced to 180 Bytes. This forced miners into giving up there quest for higher fees and they started to enjoy receiving just the 12.5 BTC as a reward for finding the nouce. Finding the nouce allows the miner to receive the reward and the fee into his wallet.</span></div>
<div class="gh gi bz at gj b gk gl gm gn go gp gq gr gs gt gu dg" data-selectable-paragraph="" id="3a77" style="background-color: white; box-sizing: inherit; color: rgba(0, 0, 0, 0.84); font-size: 21px; letter-spacing: -0.004em; line-height: 1.58; margin-bottom: -0.46em; margin-top: 2em; word-break: break-word;">
<span class="gj gz" style="box-sizing: inherit; font-weight: 700;"><span style="font-family: inherit;">3. Ok, I agree the miners don’t control the nework, but don’t the programers control the network?</span></span></div>
<div class="gh gi bz at gj b gk gl gm gn go gp gq gr gs gt gu dg" data-selectable-paragraph="" id="cbb4" style="background-color: white; box-sizing: inherit; color: rgba(0, 0, 0, 0.84); font-size: 21px; letter-spacing: -0.004em; line-height: 1.58; margin-bottom: -0.46em; margin-top: 2em; word-break: break-word;">
<span style="font-family: inherit;">No, every Bitcoin node has the right to download the latest upgrade to the Bitcoin network. If you look at this website <a class="bh cp gv gw gx gy" href="https://bitcoin.clarkmoody.com/dashboard/" rel="noopener nofollow" style="-webkit-tap-highlight-color: transparent; background-image: url("data:image/svg+xml; background-position: 0px calc(1em + 1px); background-repeat: repeat-x; background-size: 1px 1px; box-sizing: inherit; http: //www.w3.org/2000/svg\"><line x1=\"0\" y1=\"0\" x2=\"1\" y2=\"1\" stroke=\"rgba(0, 0, 0, 0.84)\" /></svg>"); text-decoration-line: none;" target="_blank">Dashboard | Clark Moody Bitcoin</a> you will see that tBitcoinhe last 3 versions of the Bitcoin software are used about equally (people upgrade their node if and when they feel like it.)</span></div>
<div class="gh gi bz at gj b gk gl gm gn go gp gq gr gs gt gu dg" data-selectable-paragraph="" id="bea9" style="background-color: white; box-sizing: inherit; color: rgba(0, 0, 0, 0.84); font-size: 21px; letter-spacing: -0.004em; line-height: 1.58; margin-bottom: -0.46em; margin-top: 2em; word-break: break-word;">
<span class="gj gz" style="box-sizing: inherit; font-weight: 700;"><span style="font-family: inherit;">4. Ok, I agree the wallets (users) control the network, but don’t you need guns or nukes to have the ability to print money?</span></span></div>
<div class="gh gi bz at gj b gk gl gm gn go gp gq gr gs gt gu dg" data-selectable-paragraph="" id="ca92" style="background-color: white; box-sizing: inherit; color: rgba(0, 0, 0, 0.84); font-size: 21px; letter-spacing: -0.004em; line-height: 1.58; margin-bottom: -0.46em; margin-top: 2em; word-break: break-word;">
<span style="font-family: inherit;">In Venezuela Bitcoin is used daily even though Maduro controls the army and airforce. Mind you, now days Maduro has conceded to allow the Venezuelan people to useo to a ne the US dollar in thier transactions with others. A few months ago the Venezuelan banks were not allowed to accept the US dollar.</span></div>
<div class="gh gi bz at gj b gk gl gm gn go gp gq gr gs gt gu dg" data-selectable-paragraph="" id="4d23" style="background-color: white; box-sizing: inherit; color: rgba(0, 0, 0, 0.84); font-size: 21px; letter-spacing: -0.004em; line-height: 1.58; margin-bottom: -0.46em; margin-top: 2em; word-break: break-word;">
<span class="gj gz" style="box-sizing: inherit; font-weight: 700;"><span style="font-family: inherit;">5. Ok, ok, ok … but wouldn’t the government just shut down part of the Internet?</span></span></div>
<div class="gh gi bz at gj b gk gl gm gn go gp gq gr gs gt gu dg" data-selectable-paragraph="" id="6a73" style="background-color: white; box-sizing: inherit; color: rgba(0, 0, 0, 0.84); font-size: 21px; letter-spacing: -0.004em; line-height: 1.58; margin-bottom: -0.46em; margin-top: 2em; word-break: break-word;">
<span style="font-family: inherit;">This Bitcoin threat, I am not sure that this can be prevented. If you look at Egypt, Iran, Russia or China as a case study in controlling information exchange. VPN, tor and other means always have come through with the goods to allow people to communicate with each other. And if you think about it Bitcoin really is just a communication platform that allows you to send <span class="gj gz" style="box-sizing: inherit; font-weight: 700;">time</span> to each other.</span></div>
<span style="font-family: inherit;"><strong class="markup--strong markup--p-strong"></strong></span><br />
<div class="gh gi bz at gj b gk gl gm gn go gp gq gr gs gt gu dg" data-selectable-paragraph="" id="314c" style="background-color: white; box-sizing: inherit; color: rgba(0, 0, 0, 0.84); font-size: 21px; letter-spacing: -0.004em; line-height: 1.58; margin-bottom: -0.46em; margin-top: 2em; word-break: break-word;">
<span style="font-family: inherit;">If you have come this far down the rabbit hole with me and if I where you, I would<span class="gj gz" style="box-sizing: inherit; font-weight: 700;"> start sending messages with the money of the Internet</span></span></div>
<div style="text-align: center;">
<span style="font-family: inherit;"><span style="font-family: inherit; letter-spacing: -0.004em;">*Bitcoin*</span></span></div>
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King Arthurhttp://www.blogger.com/profile/02240499194585217919noreply@blogger.com0tag:blogger.com,1999:blog-28945654.post-21404981128971633952020-01-27T12:29:00.001-07:002020-02-08T10:17:01.259-07:00Bitcoin has gone from government laughing at it till governments fighting it.<blockquote class="tr_bq" style="text-align: center;">
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjdznOtgNrC_GLBZPadUlb34K0MrqVIqq5tBlZ5Dg5uT2sCcGYvr7RsbPgYFzYUK1oLb2v7rANROLoYATPKw6W-_FoIAl5c8I25VCbmc1ueHHZA50E3iRk4LCW_laCsmBl8KPQK/s1600/money.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="480" data-original-width="720" height="212" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjdznOtgNrC_GLBZPadUlb34K0MrqVIqq5tBlZ5Dg5uT2sCcGYvr7RsbPgYFzYUK1oLb2v7rANROLoYATPKw6W-_FoIAl5c8I25VCbmc1ueHHZA50E3iRk4LCW_laCsmBl8KPQK/s320/money.jpg" width="320" /></a></div>
<span style="background-color: white; color: #252525; font-family: "ibm plex sans" , , "blinkmacsystemfont" , "segoe ui" , "roboto" , "helvetica neue" , "arial" , sans-serif , "apple color emoji" , "segoe ui emoji" , "segoe ui symbol"; font-size: 16px;">"first they ignore you,</span></blockquote>
<blockquote class="tr_bq" style="text-align: center;">
<span style="background-color: white; color: #252525; font-family: "ibm plex sans" , , "blinkmacsystemfont" , "segoe ui" , "roboto" , "helvetica neue" , "arial" , sans-serif , "apple color emoji" , "segoe ui emoji" , "segoe ui symbol"; font-size: 16px;">then they laugh at you, </span></blockquote>
<blockquote class="tr_bq" style="text-align: center;">
<span style="background-color: white; color: #252525; font-family: "ibm plex sans" , , "blinkmacsystemfont" , "segoe ui" , "roboto" , "helvetica neue" , "arial" , sans-serif , "apple color emoji" , "segoe ui emoji" , "segoe ui symbol"; font-size: 16px;">then they fight you,</span></blockquote>
<blockquote class="tr_bq" style="text-align: center;">
<span style="background-color: white; color: #252525; font-family: "ibm plex sans" , , "blinkmacsystemfont" , "segoe ui" , "roboto" , "helvetica neue" , "arial" , sans-serif , "apple color emoji" , "segoe ui emoji" , "segoe ui symbol"; font-size: 16px;">then you win"</span></blockquote>
On Jan 17, 2020 Her Majesty’s Revenue and Customs offered 16 Bitcoins to any one who is willing to do Bitcoin Block-chain analysis to deanonymize bitcoin transactions. This is the last step before Bitcoin becomes the currency of choice. Sure it has been 7 years since the US arrested/convicted <a href="https://en.wikipedia.org/wiki/Ross_Ulbricht" target="_blank">Ross Ulbricht</a> for allowing people to buy drugs anonymously. Some people have been trying to use <a href="https://en.bitcoin.it/wiki/CoinJoin" target="_blank">Coinjoin</a> to avoid KYC (Know your customer) rules. The problem with using Bitcoin is you can't send the whole amount in your address so whatever is left behind at least one person knows who you are.<br />
Is there a better way to keep your privacy? Several of the most prolific Bitcoin Core contributors — including Pieter Wuille, Anthony Towns, Johnson Lau, Jonas Nick, Andrew Poelstra, Tim Ruffing, Rusty Russell and, indeed, Gregory Maxwell — are working on a Schnorr signature proposal that would include Taproot, all in one protocol upgrade. If this upgrade goes ahead it will be harder to deanonymize bitcoin transactions. There is not a time frame on this proposal, but probably will be available for smart contracts in a years time. The second layer Lightning network does help deanonymizing bitcoin transactions because there is no permanent block-chain record -- just signatures that you lost x amount of Bitcoin to the cosigner. x amount of on chain BTC is still available in your wallet.<br />
Iran has been sending oil to China even though the US outlawed it. Venezuelan has had a hard time trying to avoid US sanctions. Maybe in the future Central Banks will be asked how much Bitcoin they have rather than how much gold they have stored at Fort Knoxs.<br />
<br />
<div style="text-align: center;">
AMEN Do That.</div>
King Arthurhttp://www.blogger.com/profile/02240499194585217919noreply@blogger.com0tag:blogger.com,1999:blog-28945654.post-87206634911752731862019-10-30T07:43:00.000-06:002019-10-30T07:52:04.390-06:00Bitcoin's network valueThere are a number of ways you can value an asset. Here are the 2 most important ways.<br />
<ol>
<li><b>Cost Method</b> -How quickly you get your investment back</li>
<li><b>Market Value Method</b> -What someone will pay you for the asset</li>
</ol>
<div>
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiALNG9o5Z8bmXT9X4_4gskDsxnbAzstQhDTIgyHHEKtt7X-WEdb4dHEx0ogOR6wVuzLKcGrGzIFnmaTxyOa5_naTQyBzsUwUJL9HctlhtV3Pm1HysPcHadO22AHfcM1ah9SUOU/s1600/scrnli_10_30_2019_6-50-10+AM.png" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="419" data-original-width="1218" height="109" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiALNG9o5Z8bmXT9X4_4gskDsxnbAzstQhDTIgyHHEKtt7X-WEdb4dHEx0ogOR6wVuzLKcGrGzIFnmaTxyOa5_naTQyBzsUwUJL9HctlhtV3Pm1HysPcHadO22AHfcM1ah9SUOU/s320/scrnli_10_30_2019_6-50-10+AM.png" width="320" /></a>When analyzing Bitcoin's market value we see a 140 Billion variation over the last 2 years; which is why there is a lot of truth to the fact that most people don't understand Bitcoin.</div>
<div>
Another way to evaluate is via what people have paid for it.</div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg937mz76aU6ZuB4tMiZH8_TkBAZQGeZPeeJWX6i3aCgunPr1IwUnDg4DgJ_Ev3behhhAqtX7szFYd0X7jE80W2hVooB0GbHUbPM3Sid3pEoZlGNmtx4lmU7khcH6xGMHpG-zdP/s1600/scrnli_10_30_2019_7-02-01+AM.png" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="415" data-original-width="1214" height="109" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg937mz76aU6ZuB4tMiZH8_TkBAZQGeZPeeJWX6i3aCgunPr1IwUnDg4DgJ_Ev3behhhAqtX7szFYd0X7jE80W2hVooB0GbHUbPM3Sid3pEoZlGNmtx4lmU7khcH6xGMHpG-zdP/s320/scrnli_10_30_2019_7-02-01+AM.png" width="320" /></a></div>
<div>
This is called realized market cap. As you can see by the graph people as a whole have paid 102 Billion to store Bitcoin in their wallets. The value really went up 2 years ago when some people where paying US$20k to get a Bitcoin. If you average the cost out per Bitcoin -- Realized Market cap divided by active wallets-- people will have paid US$5700 for 1BTC. This means to me the cost of Bitcoin going below US$5700 is slim.</div>
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King Arthurhttp://www.blogger.com/profile/02240499194585217919noreply@blogger.com0tag:blogger.com,1999:blog-28945654.post-70962938467641998392019-10-10T09:45:00.004-06:002019-10-10T09:45:55.095-06:00My history in Bitcoin<div class="separator" style="clear: both; text-align: center;">
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiKiIlZFX3nbZl-QnZon8aXro3P1RAWxtkVPW74tvyoZQl87xvPjFM0vQjDONuqSYmJaMXXylfqfpFW6Xmf68hGnc1lzdGWJFp282cNMi1l4hw_IZ7vFSHrr11Fnjg7VwxshSf8/s1600/First+Bitcoin+email.png" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="First Bitcoin Email" border="0" data-original-height="556" data-original-width="1496" height="118" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiKiIlZFX3nbZl-QnZon8aXro3P1RAWxtkVPW74tvyoZQl87xvPjFM0vQjDONuqSYmJaMXXylfqfpFW6Xmf68hGnc1lzdGWJFp282cNMi1l4hw_IZ7vFSHrr11Fnjg7VwxshSf8/s320/First+Bitcoin+email.png" title="My First Bitcoin Email" width="320" /></a><br />
9 years ago <b>today</b> Doug and I where having a hard time understanding Paypal's role in our "current" monitary system. So, I mentioned the idea of <b>Bitcoin</b> to him. This (according to my gmail history --see image) was my first conversation with a friend about sending money over the internet. Paypal was already 10 years old and generating almost 1 billion every year. This is when Paypal decided to freeze money that was destined for Bitcoin. Now there are over 400 exchanges and every fiat currency can find a way into Bitcoin. In Canada yesterday, we had 86 million go in/out of btc/can, which is normal. See <a href="https://www.cbix.ca/" target="_blank">CBIX</a> What is so amazing to me, even though Paypal tried to stop Bitcoin, Bitcoin has now come out ahead. Bitcoin is now worth 1/4 of a trillion dollars.<br />
King Arthurhttp://www.blogger.com/profile/02240499194585217919noreply@blogger.com0tag:blogger.com,1999:blog-28945654.post-17190701762150458192019-07-24T10:50:00.000-06:002019-07-24T17:32:27.848-06:00Using Bitcoin to store value/time.<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgAiv34XjMT-lYmVEzl8gi05teZW1APEPvXMUw_4O4zeJdk6cuAwvrFuSSlyZNncOEA7t4w6JN7etIfkWLl9ZtC7IRH5Pu9b-k34bxlabEJK5rpLfb7BcAQFHDVSdkGhgHXKSn5/s1600/photo.JPG" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="1452" data-original-width="1600" height="181" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgAiv34XjMT-lYmVEzl8gi05teZW1APEPvXMUw_4O4zeJdk6cuAwvrFuSSlyZNncOEA7t4w6JN7etIfkWLl9ZtC7IRH5Pu9b-k34bxlabEJK5rpLfb7BcAQFHDVSdkGhgHXKSn5/s200/photo.JPG" width="200" /></a><br />
People who understand these 3 concepts can't help but buy Bitcoin if they want to save for the future.<br />
<br />
1. Where we are in relation to history.<br />
With debt being used to finance stuff for the last 106 years we (as a society) have gotten used to central control of our lives -- the scarcity of <b>time</b> makes time to be the most important. This time control not only reaches to people living in China and Russia but also in democratic societies. On the gold standard, time could be exchanged for gold and later redeemed for time at a one to one ratio. This was due to the scarcity aspect of gold (only 1.2% added every year).<br />
<br />
2. How energy is related to value.<br />
Quality of life is a factor of controlled energy consumption. This is why for last century we didn't see our store of time eroding. Technology has made many leaps in helping people save time; but to rely on technology rather than a sound forum of money is stupid.<br />
<br />
3. Why is Bitcoin better that Gold as a store of value/time?<br />
The main reason is you need an army to protect your gold whereas with Bitcoin you just need 24 key words memorised. Mind you, pain might get me to reveal my 24 words, but at least I don't have to worry about people stealing my money/time when I am not there to protect it. Bitcoin is the first liquid asset that humanity has created that is truly scarce. All resources (gold / silver) are not scarce they are a product of human time (<i>time is human's only scarce resource</i>). Every store of value/time we invented before Bitcoin can be diluted, whereas Bitcoin is based upon math and thereby halves every four years. In <a href="https://www.bitcoinblockhalf.com/" target="_blank">300 days</a> Bitcoin's inflation will be at 1.80% which will enable better price stability and more scarcity. Go ahead and listen to <a href="https://www.bitcoin.kn/2019/7/saifedean-ammous-store-of-value/" target="_blank">Saifedean Ammous and Trace Mayer talk</a> and see if you can poke any holes in their arguments.King Arthurhttp://www.blogger.com/profile/02240499194585217919noreply@blogger.com0tag:blogger.com,1999:blog-28945654.post-33085470793444034922019-05-16T11:32:00.001-06:002019-05-16T11:38:25.352-06:00Before I bought Bitcoin<p dir="ltr">Before I bought bitcoin, I thought the dollar was backed by gold.<br>
Before I bought bitcoin, I'd never learned of fiat currency.<br>
Before I bought bitcoin, I didn't understand fractional <u>reserve</u> banking.<br>
Before I bought bitcoin, I never truly<br>
considered the intentionally crippling deck stacking against the unbanked.<br>
Before I bought bitcoin, I believed I was already experiencing personal financial freedom and I was in control of my own financial future.<br>
Before I bought bitcoin, I thought bitcoin was silly because I assumed I could answer<br>
"What is money?"<br>
Before I bought bitcoin, I didn't know I needed <u>to</u> know these things.</p>
<p dir="ltr">Bitcoin is a life raft.<br>
Bitcoin is freedom<br>
Bitcoin is a catalyst, and so much more.</p>
<p dir="ltr">Buy bitcoin<br>
Earn knowledge.</p>
King Arthurhttp://www.blogger.com/profile/02240499194585217919noreply@blogger.com0tag:blogger.com,1999:blog-28945654.post-5813947212935726772019-02-06T14:36:00.001-07:002019-04-25T16:50:28.708-06:00Bitcoin and Price <div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgSm4b7EUL-SPxmUdupT9mc9rPS8WV-B-6ugsrNbpkod25_JnpZTpIVqri8-NqgmEJzV-BuJ9gsmJpYuj5Od1pme-cPJExgvyUbTCDShKKVtKcaMgUUujRIvwKhA5H829z0sRht/s1600/Bitcoin.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="826" data-original-width="1600" height="103" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgSm4b7EUL-SPxmUdupT9mc9rPS8WV-B-6ugsrNbpkod25_JnpZTpIVqri8-NqgmEJzV-BuJ9gsmJpYuj5Od1pme-cPJExgvyUbTCDShKKVtKcaMgUUujRIvwKhA5H829z0sRht/s200/Bitcoin.jpg" width="200" /></a></div>
Most people enjoy holding what everyone else wants. That is why Technical Analyst is a thing. Computers have helped people figure out what others are up to better than ever before. So, according to Bitcoin T. A. it is going to be another 2 to 10 months before Bitcoin will be at a higher price. In fact BTC should drop another $1000 before it hits its low. I am starting to believe TA more and more the older I get, thanks <a href="http://www.libertylifetrail.com/" target="_blank">Tone Vay</a>.<br />
<br />
The real variable in my mind is when the fiat money system will collapse. That is a lot harder to predict because the central banks have a lot of leavers at their disposal. They could confiscate bank accounts. The could order all gold be sold to the government. They could limit withdrawals or just go on a fiat printing sprint. If and when the fiat system collapses that is when it is best to have your monies in gold, silver or Bitcoin.<br />
<br />
Living in -40 C the last week (-47 C was the lowest) you get to understand the value of being prepared. I heat with wood. Therefore I have a large storage of wood indoors for just the occasion. So, it is hard to quickly acquire Bitcoin if and when fiat fails.<br />
<br />
Right now most people don't understand the difference between Bitcoin and other cryptocurrencies. My neighbour thinks Dodge-coin is the best crypto and it is has divisibility, securability, recognizability (not to the Bitcoin extent), portability, durability but not <u>fungibility</u>. This is what people need to understand in order for the crypto market to take off.<br />
<br />
Yesterday when <a href="https://www.quadrigacx.com/" target="_blank">QuadrigaCX</a> had their court case in Canada it proved the importance of having your own keys. Having a ruling about crypto in Canada will help more people understand the laws about how crypto will be treated in <a href="https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory#North_America" target="_blank">Canada</a>.King Arthurhttp://www.blogger.com/profile/02240499194585217919noreply@blogger.com0tag:blogger.com,1999:blog-28945654.post-73999136181401243422018-11-26T16:14:00.000-07:002018-11-27T09:52:06.996-07:00Using Electricity in Alberta<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj0AppNXeANvzTlynoryrUBlRL7yxXNH2kbAYOdnpjLsgWmUJMz1VP44zTMcbGp3_R3R6QcfhhPqREpj81_6Pq6m0v6wCmkBi1V2B581GDi_ZcdcJ-flGolCVF1lP-nhYlcBakb/s1600/31110295941_b707997d02_b.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="683" data-original-width="1024" height="213" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj0AppNXeANvzTlynoryrUBlRL7yxXNH2kbAYOdnpjLsgWmUJMz1VP44zTMcbGp3_R3R6QcfhhPqREpj81_6Pq6m0v6wCmkBi1V2B581GDi_ZcdcJ-flGolCVF1lP-nhYlcBakb/s320/31110295941_b707997d02_b.jpg" width="320" /></a></div>
<br />
Well, today I watch my neighbour loose his transformer. He was only using it to heat a waterier for his buffalo. He was only needing 3 kWh per day for 120 days, at most 0.5 MWh per year. To get the pole and the transformer back will cost him about $10,000. So why is Atco Electric trying so hard to reduce their unused transformers that are still installed? Does installing and removal of power to the premise increase their bottom line? I guess the real question is should Atco Electric be charged more to install electric utility lines (increase their access fee), thereby making every rural Albertan go off grid. I think the breaking point is quite a bit less than 7200kWh per year (average Alberta household use). The problem with a cattle waterier is that it needs to be working on the coldest day of the year--yes those days without any sun. So it needs to have 21 kWh of storage (7 days x 3 kWh per day). That amount of energy storage would cost over $10,000. But at least energy storage is equal to grid-tied energy system from Atco. Even further down the road, the move to a 100% renewable energy that is not grid-tied will become more and more cheaper compared to Atco Electric grid-tied system. Too bad we didn't learn from Ontario's mistakes -- Companies like GM leave Canada when electricity cost are too high.<br />
<br />
In my opinion, Atco should leave the pole and transformer in working condition and offer the land owner a FAIR rent. FAIR rent would be the wholesale price of the pole and transformer times prime rate. Eg. Transformer $1200 and pole $300 times 4% equals $60 per year. Most landowners would agree to this and we would have more electricity available to Albertans at a cheaper price, thus making electricity affordable and encouraging more businesses move to Alberta. King Arthurhttp://www.blogger.com/profile/02240499194585217919noreply@blogger.com0tag:blogger.com,1999:blog-28945654.post-60237586620025881472018-11-22T09:18:00.000-07:002018-11-22T09:18:01.345-07:00It my birthday so give me a minute of your time.<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgmWzgvLUYzifM9G47REjnuJ1T8XfIse3Fo2eY25wZBnA63vyRLprtqwNaOGuB0EVczg55fvtB4yRtIeJY0TLpG1Cclk0lAPBTJujjQ4pPxeW1h1JHbVsk3jF6IkowdtL4Lqx6I/s1600/thomas_jefferson_quote_banking.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="360" data-original-width="720" height="100" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgmWzgvLUYzifM9G47REjnuJ1T8XfIse3Fo2eY25wZBnA63vyRLprtqwNaOGuB0EVczg55fvtB4yRtIeJY0TLpG1Cclk0lAPBTJujjQ4pPxeW1h1JHbVsk3jF6IkowdtL4Lqx6I/s200/thomas_jefferson_quote_banking.jpg" width="200" /></a></div>
The older I get the more wisdom I have -- so you should listen to me.<br />
<br />
Premise -- Wealth comes via transactions.<br />
<br />
For the last 100 years we have had central banks giving people the ability to exchange goods and services. If a bank trusted you then you could do more and more transactions. The next century will not be this way. More and more exchanges will happen via Bitcoin and not through centrally controlled banksters. Yes 2.2 trillion (current value of the Canadian banking industry) will be removed from the TSX and transferred in to a new asset class called crypo currencies. The current Bitcoin market cap is only 78 billion so Bitcoin needs to grown 270 times it current value just to handle the banking needs of Canadians. Ok, in the future, I don't think Canadians will be dumb enough to store 1/3 of their stock equity into banking assets.<br />
<br />
Every time someone taxes a transaction the velocity of money slows down and society is worst off. The Bitcoin society is trying very hard to reduce transaction costs. Currently the Lighting Network is over 2 million in value. So storing some Bitcoins on that network will reduce your transaction costs to Satoshies (1/100,000,000 of a Bitcoin).<br />
<br />
Different tax bail outs have reduced the governments ability to help out Alberta's Oil Industry so currently Alberta is stuck at selling it's oil for $14 dollars per barrel. Alberta 100 billion deficit is nothing to the 16 trillion dollars Albertians have received for inheriting a lot of dead animals and plants. The NDP and Liberals want to improve the GDP by spending and yet getting above 3% growth in GDP, because of population growth restraints, is very hard to do. That is way my birthday was so important for Canada. Have a great day!King Arthurhttp://www.blogger.com/profile/02240499194585217919noreply@blogger.com0tag:blogger.com,1999:blog-28945654.post-2663091126151400562018-10-31T09:52:00.001-06:002018-10-31T10:05:10.180-06:0010 years ago the Bitcoin Whitepaper was published.<div dir="ltr">
<div style="text-align: center;">
<b><i>Bitcoin is 10 years old today</i></b>.</div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg6Qy9j8DrpdLsK64cB7EmSZSW3ke6t664FeerlmqTyw7G6ToqJM9EXUrqNCqqfZoSiEGccaZIGnVUQSUbI1X9dULgtfFR9pIYR8fWl3nY9o7twGTI5xR90-o-KbyEtl9nw-BF2/s1600/DSCF0330.JPG" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="" border="0" data-original-height="1200" data-original-width="1600" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg6Qy9j8DrpdLsK64cB7EmSZSW3ke6t664FeerlmqTyw7G6ToqJM9EXUrqNCqqfZoSiEGccaZIGnVUQSUbI1X9dULgtfFR9pIYR8fWl3nY9o7twGTI5xR90-o-KbyEtl9nw-BF2/s200/DSCF0330.JPG" title="Bitcoin Discussion" width="200" /></a></div>
10 years ago <u>t</u>he <a href="https://bitcoin.org/bitcoin.pdf" target="_blank">Bitcoin whitepaper</a> introduced the concept of using digital ones and zeros as a medium of exchange. It was a little different than Ecash or Hashcash, in that it had a decentralised ledger. So 10 years ago the block-chain concept was created. The first Open Source software was released on Jan 9, 2009 and Hal Finney downloaded it and received 10 Bitcoins from Satoshi. Now, for the last 10 years, a new Bitcoin block has been created every 10 minutes. In the early days every Bitcoin miner who found the right nonce was rewarded with 50 Bitcoins (BTC) but now days there is only a 12.5 BTC reward. Over the last 10 years the software has been improved. Segwit was added to the code 400 days ago and now a Bitcoin transfer can be under 180 bytes. Adding Segwit also brought into existence Bcash. It has taken the crypto community 10 years to realise that other alt coins can't replace Bitcoin if Bitcoin software can barely handle that function. Decentralisation and a store of value is what makes this software GREAT.</div>
King Arthurhttp://www.blogger.com/profile/02240499194585217919noreply@blogger.com0tag:blogger.com,1999:blog-28945654.post-1838644853950436852018-10-04T07:26:00.000-06:002018-10-04T07:26:45.264-06:00Helping Alberta by reducing power lines (Delivery Charges)<div style="text-align: center;">
<span style="font-size: large;">How decentralised should Alberta's Electricity be?</span></div>
<br />
Once a year Jack and I try to solve Alberta's problems. He liked my tweet.<br />
<blockquote class="tr_bq">
<span style="background-color: white; color: #14171a; font-family: "helvetica neue" , "helvetica" , "arial" , sans-serif; letter-spacing: 0.27px; white-space: pre-wrap;"><i>All the income taxes, All the gas taxes, All the cigarette taxes, All the insurance taxes, All the carbon taxes, All provincial property taxes. All of them totalled $20.8 billion last year, even though we spent $21.2 billion on health care alone.</i></span></blockquote>
I had also mentioned how a<a href="https://www.scmp.com/news/china/article/2161592/air-pollution-causes-huge-reduction-intelligence-study-reveals" target="_blank"> recent health study</a> showed that respiratory problems increase when air pollution is above.<br />
<ul style="border: 0px; color: #36424b; font-family: Arial, Helvetica, sans-serif; font-size: 12px; list-style: none; margin: 10px 0px 0px 10px; padding: 0px 10px 0px 15px; vertical-align: top;">
<li style="border: 0px; line-height: 1.4; list-style: square; margin: 5px 0px 0px; padding: 0px; vertical-align: middle;">80 micro-grams per cubic metre for fine particulate matter</li>
<li style="border: 0px; line-height: 1.4; list-style: square; margin: 5px 0px 0px; padding: 0px; vertical-align: middle;">172 parts per billion for sulphur dioxide</li>
<li style="border: 0px; line-height: 1.4; list-style: square; margin: 5px 0px 0px; padding: 0px; vertical-align: middle;">159 parts per billion for nitrogen dioxide</li>
<li style="border: 0px; line-height: 1.4; list-style: square; margin: 5px 0px 0px; padding: 0px; vertical-align: middle;">82 parts per billion for ozone</li>
<li style="border: 0px; line-height: 1.4; list-style: square; margin: 5px 0px 0px; padding: 0px; vertical-align: middle;">13 parts per million for carbon monoxide</li>
</ul>
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<span style="color: #36424b; font-family: "arial" , "helvetica" , sans-serif;"><span style="font-size: 12px;"><br /></span></span></div>
<div>
Trying to figure out the right balance between pollution and profit requires bright minds like ours. We might even limit our energy consumption if we get to live healthier lives. :)<br />
<br />
Most often we try to make rules for others to obey that allow us to be freer. But when our big 5 Electricity producers are happy (T<span style="background-color: white; color: #222222; font-family: "arial" , sans-serif; font-size: 16px;">ransCanada, TransAlta, ATCO, ENMAX, and Capital Power) Jack and I start to worry. </span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgUxaTIKWwf-Cx5oVcYEl8zixnRKNWmOX4Nxba_6stc8_f9VO1NAhJoIJpD_uxxLNUr1a5pp9VAZ1CyVW_yeJvV6iai0WJR1onrAAHDWL0oR0Hmnn3l5dCCw5wGYStOAxuXgcFH/s1600/Electricity.png" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="" border="0" data-original-height="502" data-original-width="899" height="178" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgUxaTIKWwf-Cx5oVcYEl8zixnRKNWmOX4Nxba_6stc8_f9VO1NAhJoIJpD_uxxLNUr1a5pp9VAZ1CyVW_yeJvV6iai0WJR1onrAAHDWL0oR0Hmnn3l5dCCw5wGYStOAxuXgcFH/s320/Electricity.png" title="Arthur's Electricity Bill " width="320" /></a></div>
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<span style="background-color: white; color: #222222; font-family: "arial" , sans-serif; font-size: 16px;"><br /></span></div>
<div>
If you look at a chart of my electrical bill, it is the 80% delivery charges that is worrying me. How high can that go? I am starting to know more and more people who are happier than Alberta's top 5 electricity producers because they are off the grid. </div>
<div>
<br /></div>
<div>
Should I go off Alberta's Electrical Grid?</div>
<div>
or What can I get for $40,540 ($1500 electrical bills x 3.70% prime rate). If I just bought Lithium Batteries I could get 30 kWh of storage.<br />
Would that $40,000 investment improve the lives of Alberta's citizens? If Atco's other 227,000 customers are paying $100 just for delivery That is 22 million spent every month on delivery charges. If we all switch over to Lithium Batteries we could reduce our environmental impact. </div>
King Arthurhttp://www.blogger.com/profile/02240499194585217919noreply@blogger.com0tag:blogger.com,1999:blog-28945654.post-33352942565974351632018-09-27T10:56:00.001-06:002018-09-27T10:56:13.183-06:00Cost of the Bitcoin Network.<span style="background-color: #f5f8fa; color: #14171a; font-family: "helvetica neue" , "helvetica" , "arial" , sans-serif; font-size: 14px; white-space: pre-wrap;">The total Bitcoin network is using 70TWh of electricity annually or <a href="https://en.wikipedia.org/wiki/List_of_largest_hydroelectric_power_stations" target="_blank">5 WAC Bennett Dams</a></span><br />
<span style="background-color: #f5f8fa; color: #14171a; font-family: "helvetica neue" , "helvetica" , "arial" , sans-serif; font-size: 14px; white-space: pre-wrap;"><br /></span>
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjr19NA-tPA9d4rL2SYTfi9HIiZ3KvsqRcd8_ZO1xnMI4H1SmKtJYTV2fqBgHkdrkdb_uBTkqs_oda1kNSLOO_oOZofdhZMnrTZB3bzMgqYnCuOlak7mVosegtbtH3vyVbhpd5w/s1600/chart.png" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="213" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjr19NA-tPA9d4rL2SYTfi9HIiZ3KvsqRcd8_ZO1xnMI4H1SmKtJYTV2fqBgHkdrkdb_uBTkqs_oda1kNSLOO_oOZofdhZMnrTZB3bzMgqYnCuOlak7mVosegtbtH3vyVbhpd5w/s320/chart.png" width="320" /></a><span style="background-color: #f5f8fa; color: #14171a; font-family: "helvetica neue" , "helvetica" , "arial" , sans-serif; font-size: 14px; white-space: pre-wrap;">Annual Global Economic Costs of other industries in US Dollars
Banking: $1,870B
Gold Mining: $105B
Banking ( Electricity ): $63.8B
Gold Recycling: $40B
Paper Currency: $28B</span><br />
<span style="background-color: #f5f8fa; color: #14171a; font-family: "helvetica neue" , "helvetica" , "arial" , sans-serif; font-size: 14px; white-space: pre-wrap;">Bitcoin cost of $3.5B (assuming 5 cents per kWh) annually is a small price to pay for 3 to 5 percent of the world to exchange goods and services. The Bank of Canada did a <a href="https://goo.gl/forms/3We1dUyNmUBMFHBl2" target="_blank">survey</a> in December.</span>King Arthurhttp://www.blogger.com/profile/02240499194585217919noreply@blogger.com0