We sit down each week discuss what is actually happening. Bitcoin, AI, creator markets. Will & Iman since 2019. @natgmi builders @natdotfun is live.
Houston, TX
Joined April 2019
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The non-arbitrary era begins today…
We’re throwing in our biggest contribution to Bitcoin we could come up with
Digital Matter Theory represents an opportunity for all who seek to identify new purpose and value that can be derived from the discoverable patterns within a block
We recorded a detailed breakdown of DMT as a concept and explain the operations to formally register the existence of patterns and deploy, mint, and transfer NATs (Non-Arbitrary Tokens) in ▶️ watch here or on YouTube 👇
youtu.be/Dx_qf1196FQ
All of this juice is also in the docs we just published 👇
digital-matter-theory.gitboo…
In there you will find the JSON syntax to mint the very first NAT deployments $NAT $BMT
Let the DMT pill consume you 💊
Summary:
In this episode, we delve into the intricate universe of Digital Matter Theory (DMT) and its potential applications in the blockchain space. We discuss how DMT enables the creation of non-arbitrary tokens by recognizing patterns in data. Safeguarding the provenance of these elements allows the launch of unique projects tied to them, leading to a diverse ecosystem of tokens.
We delve into hybrid tokens, a result of minting NFTs harboring fungible aspects. By parsing through Bitcoin data, meaningful patterns can be codified and used for creating projects. We touch upon the inception of bitmap and the role of communities like Yuga Labs or Rare Sat Society in relating patterns within Bitcoin data to create ecosystem value.
We also discuss the concept of 'bit informatics', where the search through Bitcoin's blockchain for patterns holds immense potential for creating new tokens or games. In the process, we unravel the creation and utilization of Nats or Non Arbitrary Tokens.
Throughout, we draw parallels between DMT and the early days of NFT, stressing the need for a unified method for creators. We underscore the value potential of non-arbitrary data in the metaverse and the chance to create ecosystems through the recognition of patterns. As with every episode, we invite listener feedback, and encourage questions via YouTube and Twitter. For those wanting to dive deeper into this captivating subject, follow and subscribe for future videos.
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Disclaimer: The views and opinions expressed by The Block Runner are for informational purposes only and do not constitute financial, investment, or other advice.
ᴛʜᴇ ʙʟᴏᴄᴋ ʀᴜɴɴᴇʀ Podcast 🟧 retweeted
The incentive is Bitcoin itself.
Your bags.
If you hold bitcoin:native, you should care about its underlying fundamentals that’s it.
Like insurance: you care about your car, so you insure it.
What incentive problem?
Bitcoin has a security budget withering away.
No security means your bitcoin is worthless.
The only thing that mitigates this is bitcoin's value exponentially growing... forever, an impossibility.
How is this not an incentive to solve the declining security budget?
How do you solve it?
Security budget = Miner revenue = Bitcoin security.
When miner revenue increases, the cost of attack is higher and therefore security is higher.
So that means over time, bitcoin miners need to make more revenue as the value of the network increases.
Right now, over time, their revenues are decreasing. Therefore security is declining.
NAT delivers more money to the miners as an incentive to keep mining bitcoin over time as the primary subsidy decays exponentially every 4 years.
The value in NAT is that it solves the problem mechanically and its value can grow over time along with bitcoin, which means the security budget can grow over time. As the Bitcoin network value increases you need an adequate security budget to support that value. This is NOT what Bitcoin does.
If you follow us, you should already know this. We've beat this dead horse into a walking corpse already.
NAT asks: What is Bitcoin's security worth?
Answer: For Bitcoin, its worth everything.
ᴛʜᴇ ʙʟᴏᴄᴋ ʀᴜɴɴᴇʀ Podcast 🟧 retweeted
What incentive problem?
Bitcoin has a security budget withering away.
No security means your bitcoin is worthless.
The only thing that mitigates this is bitcoin's value exponentially growing... forever, an impossibility.
How is this not an incentive to solve the declining security budget?
How do you solve it?
Security budget = Miner revenue = Bitcoin security.
When miner revenue increases, the cost of attack is higher and therefore security is higher.
So that means over time, bitcoin miners need to make more revenue as the value of the network increases.
Right now, over time, their revenues are decreasing. Therefore security is declining.
NAT delivers more money to the miners as an incentive to keep mining bitcoin over time as the primary subsidy decays exponentially every 4 years.
The value in NAT is that it solves the problem mechanically and its value can grow over time along with bitcoin, which means the security budget can grow over time. As the Bitcoin network value increases you need an adequate security budget to support that value. This is NOT what Bitcoin does.
If you follow us, you should already know this. We've beat this dead horse into a walking corpse already.
NAT asks: What is Bitcoin's security worth?
Answer: For Bitcoin, its worth everything.
ᴛʜᴇ ʙʟᴏᴄᴋ ʀᴜɴɴᴇʀ Podcast 🟧 retweeted
RESET MINERS PAY ATTENTION 🚨
Your agent can now buy & sell RESET Coin for you on the DEX 🔥
Give your agent this link (below) and tell it to setup the DEX for you! 🤝
github.com/Trac-Systems/inte…
1 RESET currently trading at ~$210💰
Watch live DEX here 👇🏻
playbay.games/games/6b61d3d1…
With enough time, everyone will find ethereum:0x249130f5e2dd4cf278180c0df8273f3592ad1247
Everyone will have to make a choice on the fate of Bitcoin
A $29M treasury, a token down 90% from its high, and games that pay you in stocks. Most people see a dead chart. We see something we've watched play out before. @NetNetCap
ᴛʜᴇ ʙʟᴏᴄᴋ ʀᴜɴɴᴇʀ Podcast 🟧 retweeted
If you get why Bitcoin won, ethereum:0x249130f5e2dd4cf278180c0df8273f3592ad1247 is not that hard to see.
Miners get paid to keep the network secure. That paycheck gets cut in half every four years. Fees never really replaced it. And Bitcoin can’t just print more of itself.
So the guard still has to get paid.
ethereum:0x249130f5e2dd4cf278180c0df8273f3592ad1247 is that second paycheck. It comes from the same block, goes to the same miner, and doesn’t change the 21 million. No premine. No founder sitting on a bag.
Some of the big pools are already passing it through. The market cap is still small. The network it helps secure is not.
You’re not buying a story. You’re buying the wage the vault still needs.
ethereum:0x249130f5e2dd4cf278180c0df8273f3592ad1247
ᴛʜᴇ ʙʟᴏᴄᴋ ʀᴜɴɴᴇʀ Podcast 🟧 retweeted
MARA moved 1,000 BTC to exchanges in five days, and miners keep pivoting to AI. “They have to keep selling,” says @NewsAsset.
Then he replayed the security-budget case: five pools, over 60% of hashrate, on the second subsidy. ethereum:0x249130f5e2dd4cf278180c0df8273f3592ad1247
ᴛʜᴇ ʙʟᴏᴄᴋ ʀᴜɴɴᴇʀ Podcast 🟧 retweeted
The Next #2 on CoinMarketCap Is Being Born Inside Bitcoin’s Blocks
1/
Most people think the next big coin has to be a new app or a new meme.
They’re looking in the wrong place.
The real opening is something Bitcoin still has to pay for every 10 minutes: the people who keep it safe.
2/
Think of Bitcoin like a vault full of money.
A vault needs a guard. The guard needs a paycheck. In Bitcoin, that paycheck is mostly the block reward -new bitcoin paid to the miner who finds the block.
Every four years, that paycheck gets cut in half. Fees were supposed to replace it. They never really did.
3/
Simple example:
You hire a security guard for a warehouse. You pay him $100 a day. Every few years you cut his pay in half. You hope customers will tip enough to make up the difference. They don’t.
Eventually the guard looks for another job. The warehouse is still full. The protection is not.
4/
That’s the problem.
Bitcoin cannot print more of itself to fix it. That was the whole point of the 21 million limit. So the network gets more valuable while the main paycheck for securing it keeps shrinking.
You can argue about the price all day. The power bill still has to be paid.
5/
ethereum:0x249130f5e2dd4cf278180c0df8273f3592ad1247 is a second paycheck for that guard.
Every time a miner finds a Bitcoin block, they also get ethereum:0x249130f5e2dd4cf278180c0df8273f3592ad1247. It comes from data already inside that block. Nobody on a team picks the amount. No premine. No founder bag. Bitcoin’s rules stay exactly the same.
6/
Another example:
The warehouse still pays the guard his normal wage. On top of that, every shift he also gets a second envelope from the same work he already did. Same building. Same job. Extra pay.
That’s what pools like AntPool, F2Pool, ViaBTC, SpiderPool, MARA, and Luxor have started doing with ethereum:0x249130f5e2dd4cf278180c0df8273f3592ad1247.
7/
Why does this matter for a big market cap?
Because almost every other coin needs Bitcoin to stay secure, and almost none of them help pay for it. They are using the vault. ethereum:0x249130f5e2dd4cf278180c0df8273f3592ad1247 is trying to pay the guard.
If Bitcoin is worth trillions, the wage required to keep it safe is not a small market. It is the next market.
8/
Right now ethereum:0x249130f5e2dd4cf278180c0df8273f3592ad1247 is still priced like something most people have not noticed. The network it points at is not.
The trade is the gap between those two things. Not a promise. Just the fact that the shift still has to be covered every 10 minutes.
9/
You don’t need a new story every week for this to make sense.
Bitcoin was the vault.
ethereum:0x249130f5e2dd4cf278180c0df8273f3592ad1247 is the attempt to keep paying the person standing outside it.
The timeline can stay late. The blocks will not.
ᴛʜᴇ ʙʟᴏᴄᴋ ʀᴜɴɴᴇʀ Podcast 🟧 retweeted
Day 501 #NatTo1bChallenge
Bitcoin’s security is a payroll.
Subsidy + fees.
The subsidy halves every ~210,000 blocks.
Fees have never fully replaced it.
The 21M does not move.
ethereum:0x249130f5e2dd4cf278180c0df8273f3592ad1247 is the second subsidy.
Minted from the bits field of the same block.
Paid to the miner.
No premine.
No founder.
No change to Bitcoin’s rules.
Pools already routing it include AntPool, F2Pool, ViaBTC, SpiderPool, MARA, and Luxor.
The opportunity is the gap.
A multi-trillion vault.
A second paycheck still priced like an early asset.
That gap is the 1000x.
ethereum:0x249130f5e2dd4cf278180c0df8273f3592ad1247
@natgmi
ᴛʜᴇ ʙʟᴏᴄᴋ ʀᴜɴɴᴇʀ Podcast 🟧 retweeted
Bitcoin’s block data is now powering a mining economy for AI agents on Trac Network ⛏️
Every Bitcoin block issues 3.125 RESET.
Agents earn by submitting new Bitcoin block headers or participating in a shared Mine, where game theory rewards fair play and penalises greed.
Start mining for free by giving your agent this link and telling it to set it up for you:
▶️ github.com/Trac-Systems/rese…
Everyone's talking about making money with AI agents. We looked at one that actually pays you to build, and spotted the pattern that decides whether it lasts. @bordrlessdex
Spending only a tenth of a percent of the value of the network on security is ludicrous.
Its deafening how quiet everyone is about this.
Its pretty clear no one has a solution for this.
There's a few of us NAT worried at all.
8 trillion dollar network secured by 8 billion dollars
An attack will likely happen within that timeframe
Without a second market-driven subsidy, it’s basically over.
$dmt-nat coded
ᴛʜᴇ ʙʟᴏᴄᴋ ʀᴜɴɴᴇʀ Podcast 🟧 retweeted
8 trillion dollar network secured by 8 billion dollars
An attack will likely happen within that timeframe
Without a second market-driven subsidy, it’s basically over.
$dmt-nat coded
This is terrifying.
Scary for Miners.
Even scarier for Bitcoin holders.
The bull case according to JPMorgan for Bitcoin is $386,000 in the next 10 years.
That's 3 halvings away. That's like mining Bitcoin at a price of $48,250.
This means a lot more miners leaving the network, a lot more centralization...
... and a lot less security.
Its concerning that no one else is concerned.
For those that see this inevitable outcome, the only thing to save Bitcoin is ethereum:0x249130f5e2dd4cf278180c0df8273f3592ad1247
Check the math.
This is terrifying.
Scary for Miners.
Even scarier for Bitcoin holders.
The bull case according to JPMorgan for Bitcoin is $386,000 in the next 10 years.
That's 3 halvings away. That's like mining Bitcoin at a price of $48,250.
This means a lot more miners leaving the network, a lot more centralization...
... and a lot less security.
Its concerning that no one else is concerned.
For those that see this inevitable outcome, the only thing to save Bitcoin is ethereum:0x249130f5e2dd4cf278180c0df8273f3592ad1247
Check the math.
BREAKING: JPMorgan now expects Bitcoin to outperform every major asset class over the next 10 years in its base case.
It is the first time the bank has put a 10-year return projection on BTC.
JPMorgan says Bitcoin could hit $386,000 in 10 years in a bull case.
Its base case is 10% a year from $83,000, about $215,000.
That is higher than US stocks (7.5%), US bonds (5.6%), gold (5.5%) and private equity (9.8%).
