Bit root is explaining why there will only be 21 million bitcoin. Block rewards every ten minutes halving every for years is an infinite sum tending to that 21m supply. In fact a few sats less due to rounding errors. She explains why bit shift in the code is the same as halving due to the way binary number representation works. The code stops shifting at 64 halvings , despite the fact the reward will be zero after 32. This is since c leaves 64 bits shifted off a 64 bit number as undefined. But could the code just be changed? No. The source code maintainers could try, but node runners would refuse the update, it being against their financial interests to do so. Even if some nodes did do, you on your own node can resist. When people created forks with more supply, the market sent it's price to zero. #bitfest #bitcoin

Short panel on merchant adoption. Hipster burgers here in Manchester takes bitcoin. The owner says people are generally more curious than dismissive. Gresham's law implies that people spend their worst money first. They want rid of it. When you give merchants your bank money you give them the worst money. Be kinder to merchants! Ben from lnbits, the first merchant point of sales lightning devices, says merchants are interested because they want to have a broad portfolio. Accepting bitcoin is the easiest way to get it, without "know your customers" banking rules. #bitfest #bitcoin

Prem ghinde thinks that Alan is killing bitcoin. Alan is paid in government money, and saves in bitcoin. He's an imaginary straw man. Alan doesn't plan to spend his bitcoin though. Just stack it until he sells it. And this doesn't build the bitcoin network. Without transitions, when the block rewards run out, there will be no money for miners. Miners will need fees, which means transactions. Since he's paying in bank money, he's funding bankers instead of miners. He's encouraging retail to accept bank money instead of miners and lightning liquidity providers. Unlike Alan, Prem lives on the bitcoin standard. All in. Spending sats because he has no bank money to spend. It can be done, he insists. Today. Mostly by using gift vouchers bought with bitcoin. He's sad that people here are buying drinks from the hotel with bank cards instead of lightning. Stop watching the price, he says, it's only a measure of government money's collapse. Change your yardstick. Account in bitcoin. Dollars aren't even money, they are currency. If you must measure, do it against gold. Since moving to el Salvador he had learned Spanish, until he even dreams in Spanish. Try to dream in bitcoin. Every transaction is a vote, so stop voting for bank money. I think the main trouble with this is that tax event in every purchase, and the fact my employer won't set a wage in bitcoin even if they would convert to bitcoin to pay me. #bitcoin #bitfest

Meanwhile in the other room, Derrick from Shakespeare is giving a demonstration of live vibe coding. Building a gift exchange website. His prompts build a website quickly and the monitoring agent spots bugs in it's own code, v asking to fix them. It's all running locally, with only the ai requests going to the llm APIs. With a powerful enough GPU you could run open models locally instead. It's handling source control management, committing to a guy repo, and deploying to the web. It's certainly made a website faster than I would do as a dev, at least if I did do from scratch rather than a template. Would have to examine the code to check if it's got any big flaws that the agent checking for bugs missed. Ai coding isn't strictly bitcoin related but there does seem to be a big cross over in people interested in both. #bitfest #vibeCoding

Meanwhile in the other room, Derrick from Shakespeare is giving a demonstration of live vibe coding. Building a gift exchange website. His prompts build a website quickly and the monitoring agent spots bugs in it's own code, v asking to fix them. It's all running locally, with only the ai requests going to the llm APIs. With a powerful enough GPU you could run open models locally instead. It's handling source control management, committing to a guy repo, and deploying to the web. It's certainly made a website faster than I would do as a dev, at least if I did do from scratch rather than a template. Would have to examine the code to check if it's got any big flaws that the agent checking for bugs missed. Ai coding isn't strictly bitcoin related but there does seem to be a big cross over in people interested in both. #bitfest #vibeCoding