pull down to refresh
14 sats \ 0 replies \ @leo 6 Jan \ on: Trip Report: Lugano, Switzerland. A GREAT place to Use and Spend Bitcoin bitcoin
Awesome to see more trip reports!
The historic Tooting Market entrance
View inside the market
Signage at Boom Bap Burger
Fresh juice from the juice bar
Super cool, this motivated me to finally connect my Stacker News account to my own node via LNC. Seems to work smoothly! I think it will change my zapping behavior a bit, as now every zap is a real lightning payment. Fewer, but bigger zaps.
I didn't get a chance to, but maybe somebody can show them the "pos" function in WoS? That would make things easier for them, I believe
The few locals i talked to were mainly excited to have a football club that's winning and has an ambitious vision. The game was well attended!
- Get an old laptop or desktop computer, with a new SSD
- Install Ubuntu on it
- Run Bitcoind and Litd (which includes LND). This is a handy guide: https://www.nodeacademy.org/
- Start with one or two channels, set your routing fees high and regularly use the node
- Connect to it from Zeus on your phone via LNC
yeah, that's what this is about. proposals for a "strategic bitcoin reserve" come out of a desire to burn down the dollar. It's not a strategy meant to serve the US government, citizens, country or the dollar
That seems like a silly plan to me:
- Print US dollars (or would you prefer heavy taxation?)
- Buy Bitcoin
- Devalue the US dollar, wait a bit for Bitcoin to go up
- Repay the dollars with Bitcoin -> The US dollar is now worth significantly more, there's been years of heavy inflation (or taxation), and the US government will still have to borrow more than it earns. With or without Bitcoin, the above plan is akin to declaring bankruptcy, but with one extra Bitcoin step.
People lend the US government dollars because they believe they will get it back through taxes, not because the US government has assets. Will these entities still lend out dollars if they see these dollars being used in a speculative attack against the dollar, devaluing the claims of US treasuries?
-
But you're conflating monetary and fiscal reserves. Fiscal reserves is money used to pay for government spending, and typical governments have none or little fiscal reserves. The US has none. Monetary reserves are used to stabilize exchange rates, as the article explains. Is the goal to stabilize the USD/BTC exchange rate? Then the US should buy when the price dips, and sell when it increases rapidly.
-
Bitcoin doesn't make sense as a reserve currency, because you can just use Bitcoin directly, as a currency. No need for a central bank to hold it in reserves and issue fiat on top of it.
Dear Bitcoiners,
Trump won't pump your bags, the state isn't going to make you rich. Bitcoin is the same as it has always been and we are going to have to work and get our hands dirty if we want to make it happen.
Yours, Leo