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40 sats \ 0 replies \ @SatAttack 30 Sep \ parent \ on: It's Shutdown Day on Capitol Hill - What's Going On Part One Politics_And_Law
He answered that here:
#1243272
Woah, 42 sats for lunch. Is this article written in 2075?
Jokes aside, cool article.
"I tested it out with a friend who didn't have a macadamia wallet yesterday and they were easily able to download the app and claim the ecash in their wallet within a couple of minutes. The experience makes me think that this will be a great way to onboard people to bitcoin in as straight forward a way as possible."
I agree, the ability to just text some sats over to someone would be a huge on boarding tool. And I agree with the articles sentiment that this is the type of tech that will bring unknowing users into the network. I have never had a cashu or fedimint experience because thus far lightning has worked very well for personal spending needs but
"You can send ecash from macadamia to pay a lightning invoice and it will just work."
sounds incredibly cool. I recently gave a presentation in school where part of it was feeding the lightningcats.io and it would have been so so cool to just ask a member of the class for their phone number, text them over some cashus, then have that person pay the LN invoice to feed the cats.
Bent finishes his article with
"Pay attention to these Chaumian mint protocols, the wallets and markets built on top of them as they continue to progress."
and I can't help but cautiously agree. Many of us got to the point of self-custody bitcoin only and ensuring the ability to verify your stack on the chain from shitcoin introduction. It's easy to look at something like this cashu protocol and think "woah, no self custody and no supply verification? No thanks, shitcoiner." But he's right. At the end of the day protocols like this will create more bitcoiners--defined as a person who self custodies, verifies, and expresses their opinion to the network--and relative to a shitcoin exchange starting point, this is healthy.
Ugh this gives me shivers. Moreso than a recent terrible banking experience I had. I try to use my bank as little as possible and hold as little cash in there as possible. But my checking account is used to pay ever bill and credit card statement. It's a volatile account balance.
I went to play poker at my local casino last week and took the bus/train to do so. When I got there, I realized I had forgotten my damn cash at home but no big deal because I had $800 in my checking at the time and I could withdraw $600 which would be plenty for the days playing. Everything at the ATM went smoothly right up until the very end when it canceled my transaction for reasons I still do not know (or care). I tried once more and then got an insufficient funds error (and fee) so when I used my mobile to check my balance, I saw that I had been credited the $600 from the initial transaction. I called the bank and all they could tell me was "yes it was canceled, and your money will be refunded in two business days". Well, this was Friday evening so two business days was Tuesday! There was nothing I could do now except get back on the train and go home. Fiat and banks are so frustrating.
I almost wrote a sob post about this event, but it never happened so I'm telling the story here. Even though you had seemingly less inconvenience in your situation I really can't help but shudder to think you now need an ID to even deposit! That is so much worse than a random ATM error or perhaps my bank "protecting me" from a casino ATM withdrawal which in their defense almost never happens. I prefer to manage my own cash. This stuff really baffles me when people can't grasp at least this particular why of bitcoin. Do they not desire control?
I like the way you phrased that. It's the only thing that works for me in nearly every sense. I love video games, but I can't have them or at least need to be very careful about the ones I do have. I can't have sweets in the house, I can't have a modern phone. I have a frustratingly little amount of self control but for me hard limits work well.
And I forgot my favorite part! I love showing people that I can access the Bitcoin and LN with my old janky phone. I gave a presentation in my Spanish class last semester and was explaining to my class the growth of bitcoin in South and Central America. I fed the cats over at lightningcats.io mid presentation for proof of concept. I wanted to show everyone just how easy it is, and it worked flawlessly. And I used sats from SN that were in my blink wallet!
For me I have just accepted the fact that if I have the device, I have no control. Similar to cookies in the house. So I use a first generation Iphone SE. There is a weird noticeable difference in the "pull" or desire to illuminate my screen. It also has technical limitations that I really appreciate. Scrolling through any platform is a real pain in the ass and for me that's a great thing because now I don't do it. Talk, text, and email all work very well. And that's enough.
I'm pretty sure they didn't make the spinning wheel like they wanted to when it first rolled around. It felt very gameable, which was fun. I was able to stock up a bunch of spins and never spin on anything other than $1k+ purchases, run some EV calculations to see when you should stop spinning or continue to spin, profit!
When they first came out the rates were the same. I was doing some serious stacking back then playing some fun fiat games. I had a HELOC on a condo and I would Cycle cash from there, through another bank, then to paypal where I would use the fold to pay back my HELOC and I could make 2.5% in sats on $6k every few days. Those sat returns dramatically dropped though and I didnt feel too great about supporting a visa company anyways so I haven't been on the platform in a while.
and those were the times of 17k BTC!!! So I have some sick sat return pictures. i have a few 1.9kk sat returns and I stacked nearly 9kk sats with it
I have recently found it very useful in helping me with chemistry homework. specifically, for navigating through compound formulas and such. Which puts me in the 28% of "practical guidance" i guess
One of my favorite parts about bitcoin is how it dramatically simplifies the equation for financial success. It doesn’t matter what you do to earn in this monetary system. Just earn, stack, spend wisely, and you will succeed.
This is incredibly exciting. I would love to play and discuss hands we see/play here in stacker news. Perhaps it’s time for a poker territory O.O
Seems bad for bitcoin if it’s real?! Long term I’m a firm believer in everything is good for bitcoin but man am I dreading hearing about this in the wild especially if bitcoin gets immediate hate from anti-trump crowds.
@JoeNakamoto just recently dropped a great vid about that one:
Nice, I think egrets are so cool. I remember catching small crabs and feeding them to the egrets. Sounds a bit morbid as I type it out.
Fascinating read. A quote towards the end really struck me:
“ When basic entropy generation can cost more than most countries' GDP, maybe it's time to stop pretending this industry has grown up “
Yep. We haven’t even close seen the last of it. All these trad-fi ETF focused dudes have their head in the sand big time. A huge scandal is coming: a single miss placed or stolen key from a coin base insider will quickly and painfully rip away the blissful ignorance surrounding that space currently. Bitcoins history shows us time and time again that the only safe people in the space are the bitcoin-only self custodied.
I think too that is just another reminder to the doomers who somehow equate bitcoin ETF and trad-fi popularity to death of bitcoin or death of bitcoins message. Just because someone is shouting their message loudly into your ear doesn’t mean that your own message has lost footing or merit.
As always,
Stay humble stack sats self custody