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41 sats \ 0 replies \ @SpaceHodler 21 Dec \ on: Gemini Questionnaire bitcoin
Kraken threw a questionnaire at me yesterday. It was apparently something required by the FCA, to determine whether I was a 'sophisticated investor' or a regular one, as that determines how much corn I'm allowed to buy. I gave it a BS answer w.r.t. my net worth and qualified as the former. But I'm really just a saver.
That's why I gifted a copy of "Broken Money" to a friend last year.
But I don't think I was that successful, he's still a nocoiner.
I have none of the above and don't know what it's like having them.
But I imagine it would be the child and the bag of cuck bucks.
I'm not experiencing this, because I don't know any bitcoiners IRL (that I'm aware of) and I don't tell my friends I'm a bitcoiner. I think only 3 people know and my efforts to orange-pill them have been fruitless.
But what crash? Prices not seen in 2 weeks?
10 sats \ 0 replies \ @SpaceHodler 20 Dec \ parent \ on: How to conceptualise multisig? bitcoin_beginners
when starting to transfer i would just have to enter in two of the passkey basically and then the funds move, is that essentially it?
Correct.
will more wallets have multisig on taproot in the future, or is there another reason why it might not be viable or popular
Hopefully. I know Nunchuk does.
Same here. I moved to a different country, over 800 miles away.
I'd then visit them once a year or two and the first day would be nice, but past that there would already be too much tension and I'd have had enough.
And now the people of El Salvador will be forced to sell their Bitcoin for Dollar again to avoid paying taxes.
Where does the article say that?
I only see where it says they won't be allowed to pay taxes in BTC.
Ecash mints are custodial.
Alby Hub is a server you can run at home, so it's non-custodial in that sense, but you can connect it to an ecash backend. That way you don't have to run your own LN node and manage liquidity. Alby Hub acts as an interface with the mint, effectively disguising it as a LN node.
See #707673
So now that things haven't gone our way and we need the blessings of fiat (effectively a bailout), we suddenly have to defend fiat, possibly Keynes, and throw praxeology out the window?
I hear you.
Loans are a feature of fiat.
If you embrace the Bitcoin way, don't scream when the fiat overlords don't want to lend you money, so that you can perform a speculative attack on the very fiat system you want to benefit from.
The IMF didn't force them to do anything.
They just said: "Hey, we have a loan to offer to you on these crappy terms. Take it or leave it."
And El Salvador took it.
Fuck those monetary institutions, all of them.
El Salvador didn't have to borrow from the IMF.
I don't and I'm fine.
If they do, the problem lies within El Salvador and not the IMF.
P.S. Nico of Simply Bitcoin is going to be disappointed.
You don't need other people involved. Multisig just means there are multiple (n) keys and you need k of those n to spend your UTXOs.
You can be the only person that holds those n keys, e.g. in a 2-of-3 multisig you may have one key on a steel plate under a floor board, another as a list of references to words in a book and yet another buried in a glass bottle in your backyard.
As a receiver, you can't control what you will receive. If the sender only has CCs, you will receive CCs.
Sorry for the lack of clarity. I meant:
So this also means if everybody starts receiving real sats attaches an external wallet (so they receive real sats when they're zapped real sats)
edit: mhhh, anybody can buy CCs though. So you can have CCs even without someone else sending you some.
Buy from SN or on a secondary market? There is no incentive to buy from SN at 1:1, and when you buy a CC on a secondary market at a discount it doesn't bring a new CC into existence, the CC still must have been created by someone receiving a zap and not having a receiving wallet attached.
The Bitcoin Jungle wallet uses Bull Bitcoin as an automatic off-ramp.
I've heard the Costa Rican banks are not Bitcoin-friendly and it's not easy for the locals to buy BTC (this may have changed though?), so I'm not sure how it works, they must have a local bank account to make SINPE payments to the merchants' accounts and a way to sell BTC for CRC (maybe via CAD using the liquidity from their Canadian business).
Thanks!
So this also means if everybody starts sending and receiving real sats, CCs will quickly cease to exist.
I think this could be shortened to:
So this also means if everybody starts sending and receiving real sats, CCs will quickly cease to exist.
because for a CC to be sent it needs to be received first (in fact, >1.42 CCs need to be received).
And users are incentivized to receive sats, so CCs should die out indeed.
BTW it would be simpler not to introduce CCs at all and if someone doesn't have a receiving wallet attached, they'd receive nothing and the sats would go to SN as a 100% fee.