Good catch. Makes sense they'd try to keep that going as long as possible

or centralized companies, like most wallets/Strike/etc. which I suspect will be the thing adopted by mainstream

Thanks! His reports are exactly what I was referencing.

I tried to be realistic with the numbers I presented. The benchmark you linked is more proof that higher throughput per node is achievable, but none of what he did has made its way to the implementations (with reason I suspect, there are tradeoffs at each point)

A benchmark from Bottlepay again, a month or so earlier than this one, showed that an LND node running decent hardware (8vCPU, 32GB RAM) can do 33 payments per second.

I wanted to estimate this in a realistic way given that most of the network is running Pis, and ran with the conservative "4 tps" number, which again proves more than enough!

Very thankful to Kevin for all the work he's done - I echo everything said here!

I enjoyed writing and researching this a lot.

A short summary:

Thanks for everything you've done for the community so far!

I am so happy we have this podcast

AMAZING progress with everything! I can only wish for a mobile app - I barely log in if I have to use my computer, and using the browser through the phone just isn't good enough

Interesting, what about using something like Casa?

I guess it's the same as the 2-part 12w split with some added benefits/disadvantages.

Forget mainstream media, propaganda (one way or another) and just focus on first principles.

The risk-reward of a healthy person was skewed to the downside. The virus is new and the vaccine is experimental and new.

It doesn't take a genius to look at the history of medicine and the amount of blunders there have been in order to be skeptical of taking an artificially-created vaccine that most importantly has not been tested for years.

One must trust the human body's ability to defend itself.

I'm saying the country has a lot of red tape which makes people used to being obedient with things that make little sense and/or are not optimized to the fullest.

They might make it. Stablecoin adoption is increasing rapidly (https://twitter.com/paddi_hansen/status/1576585695295991810) and LN should be much cheaper than competitor L2s

Public transport requires you to use masks in Spain. The country is pretty backwards in that, but I have observed people are incredibly obedient to even the most stupid rules. After all, it is famous for its red tape

EXACTLY.

I have been pounding the table on this forever with all the hype-crazed .eth maxis.

It literally doesn't matter what Ethereum does, it can literally never be a better sound/hard money than Bitcoin. It's impossible, because it's core focus and core competency is elsewhere.

One sentence rebuttal that lasts forever: If Ethereum needs to add 10% inflation in order to outcompete Solana, it will always choose to do so.

Any kind of scarce assets really -- just not currency afaict.

re: self-sufficiency, you want to hedge against all manners of problems that can break out when a developed country goes through a hard period.

etc

Where is this 57.41% number coming from?

Over-levered and overcrowded inflation hedges do not guarantee short-term hedging against inflation.

See Japan's real estate sector. Everybody agrees that real estate is a hedge against inflation -- nobody ever puts that into question somehow.

But if you had bought Japanese real estate anywhere from 1987-2003 (16 years!) you would NOT be up today. This means that in the worst case (1987 buy), you would have underperformed inflation for 35 years.

If you had the time to do the due diligence, would land be a good value capture for this play?

"Mortgages" for land (levered land) may be even better.

To answer myself - it might be.

Food prices going up means farmers should be in higher profit (altho fertilizer cost may be driving that) - they're able to afford more for renting your land

The key difference here @alonviten is that they don't necessarily need high CPI inflation in order to sustain this.

Do they even need to "inflate it away", or is kicking the can enough?

If they continue monetary inflation (e.g QE) whose new supply goes into assets (asset price inflation), they can create a new endless stream of money toward treasuries. Obviously, if your stock portfolio went up 3x, you will diversify a bit more into treasuries (as well as pay extra taxes)

As you can see, it worked pretty fine from 2010-2020 - https://fred.stlouisfed.org/series/GFDEBTN / https://fred.stlouisfed.org/series/GFDEGDQ188S. Debt-to-GDP increased from 80% to 100%, but total debt increased from $11T to $23T! (100%)

How and why would the derivative example in 2) depend on how many people own all the bitcoin?

You can have derivatives today?

BTC is self-custody friendly, so you could just own this share of BTC directly from those few hands. I don't see the need for "paper bitcoin" in this example

Great point on LN reducing the hurdle. The website we're on is the prime example of that - facilitating value transfer between people at the speed of light(ning) without any major regulatory hurdles!