*As Stevens explains, Bitcoin mining accounts for only about 1% of global energy expenditure on heating. As he puts it: "If 1% of comfort heating were converted to hashrate heating at the current estimated average mining chip efficiency of 25 J/TH, we'd add over 1 ZH/s to the network, effectively doubling its computational size." Or put more simply, if only 1% of the electricity used on generating heat around us went to Bitcoin mining, the amount of computing power dedicated to securing Bitcoin would double* View quoted note →

*great societies are built on proof of work and die on proof of stake* View quoted note →

*there's no reason for multiple fiats to exist and the dollar is the default fiat, the inevitable end-state is the final boss pair of BTCUSD... China can't stop that, but what it can do is avoid going broke in the process by collateralizing ahead of it* https://stacker.news/items/1267663/r/halalmoney?commentId=1267714

*It's not about Bitcoin vs. Gold, it's a demarcation of which fiats can collateralize and which can't* https://stacker.news/items/1267663/r/halalmoney?commentId=1267714

*Fewer children, in a lot of states, means more inheritance tax revenue. But fewer children also means fewer future taxpayers, and more immigration which has its own associated costs* https://stacker.news/items/1267144/r/halalmoney

*To step back to an earlier round of that creative destruction, the mobile phone, not the smartphone. That sardine fishermen off Kerala get to use phones is what drives that economic growth stemming from greater productivity. It is the use of phones - allowing markets to complete where previously information gaps did not - which leads to that remarkable finding that mobiles in an economy without a landline network add to GDP. In fact, per 10% of the population with a mobile an astonishing 0.5% on GDP each year.* Productivity isn’t about who owns but who uses — Adam Smith Institute

Adam Smith Institute

Productivity isn’t about who owns but who uses — Adam Smith Institute

This year’s three Nobel prize winners in economics won because they all argue the alchemy of capitalist growth lies rather in “creative destruc...

*legacies are built, not through visibility metrics, but through value so profound it becomes contagious* View quoted note →

*True meaning comes when work serves life, not the other way around* View quoted note →