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0 sats \ 0 replies \ @beameduplol 28m \ on: Finally got tax refund! Damn IRS. What should I do next pay off debt or buy BTC? AskSN
Pay off your debt, even if 0% now, they will try to screw you over later. And then buy Bitcoin. Freedom would come from not being very dependent on FIAT or banks I assume.
That is not what I meant. I cannot use Bitcoin directly to pay for gas, buy food at restaurants or shop if I am the only individual in my country that utilises Bitcoin.
I would be the change, but again, I do not have anything to sell, and I doubt anybody still has self-custodied Bitcoins they can spend. (i.e: there are some "investors" that own fake BTC on exchanges and can't transfer them)
I like the explanation, but none of it explained why LN-BTC is a wrong term. I know how Lightning is a payment network for Bitcoin, and your hypothetical statement of how it gives nocoiners and shitcoiners the idea of multiple types of Bitcoin existing has not happened yet. They can always tell I'm talking about Bitcoin over Lightning, and there's the people that cannot, which is due to a general lack of understanding of Bitcoin as a whole. (knowing it as a speculative asset)
I am certain that I am - the - only user of Bitcoin in my country... Not everyone would be born in a place like you, where Bitcoin isn't outlawed or that 100% of people have a stigma it is either a scam/ponzi or an asset to get rich in FIAT.
My only real usecase for Bitcoin from my location & situation is peer-to-peer transactions (which I do quite often) and purchasing random small things if I can. There is zero usage of Bitcoin here, so I need to resort to giftcards.
Also, if you read my post instead of glancing at a single word, you would see that in the beginning if the second paragraph, I bring up the idea of a retail merchant actually directly accepting Bitcoin over Lightning. (As in, having the payment method of Bitcoin or Bitcoin over Lightning.) rather than using my Bitcoins to purchase giftcards (which, as you state, is like going back to FIAT. I agree with your statement.)
Your guides are good though. I read the bitcoin circular economy, which I do wish happened here, but zero usage on Bitcoin. I am not a merchant or have anything to sell as a service, so until then, I will have to live on FIAT.
Okay, and what is wrong with saying LN-BTC? How does it convey it's different than Bitcoin? LN-BTC, Lightning Bitcoin, as in the layer 2. Even you seemed to get the meaning of it so why should I change it? I like convenience, especially when I have to use this term multiple times while typing. Again you are the only person that actually cares about very very insignificant things like these.
You have stated it is a "wrong term", but why is it a wrong term?
Am I whining, or is he whining?
Instead of any thoughtful feedback on anything I just said, he decided to nitpick something that nobody has ever objected with. I myself have seen a fair share of Bitcoiners use LN-BTC.
So much for a "very dedicated user who has several guides about Bitcoin"
while true, I do think it's more productive in trying to be as "forgiving" to any newbies as possible rather than pretending like it's a very simple concept and it is their issue for not getting it by their second week.
Vocal minority. The ones who whine make up a big "voice", whilst the stackers usually do not want to participate in random social drama. Waste of time. I try to look at the bigger picture here
It's very good for processing a bunch of numbers. Often times I need to deal with numbers, that I need to use to break into other numbers, that I translate into some kind of other ratio of numbers... That and explaining a common concept.
Where do I imply that there is another Bitcoin? The hyphen exists to indicate it is a different layer, similar to how others differentiate ERC20-USDT or BEP20-USDT.
I use that term for convenience, and it is also how a lot of others I know use it. Not a single one of the people have misinterpreted it as an altcoin.
I would also suggest you to be a little less aggressive next time, if a Bitcoin beginner got this as a response, they would likely start to develop a "hate" against Bitcoin.
You have been the first person to be this mad about saying LN-BTC instead of "Bitcoin Lightning". Convenience is an issue eh 😁
21 sats \ 0 replies \ @beameduplol 18 Jul \ parent \ on: When Will We No Longer Need the L2? bitcoin
It depends on your feerate. 1.00sat/vB is like going gambling, sometimes you get 1-2 confirmations within 20 minutes, othertimes you dont get any in 8 hours. Same speed but wildly inconsistent unless you want to spend a rather significant amount of your stacked satoshis on fees each time.
600 satoshis per TX for "guaranteed" confirmations, while minimum wage in the U.S. is 6,000 satoshis per hour is a bit high right?
Price wouldn't be equal to technological innovation. This does not mean I am saying that Monero is better than Bitcoin Lightning or anything like that, but rather that it is not productive to measure the worth in price.
Most of the Bitcoin price in USD also comes from investors that use it to get rich quick, and from governments purchasing ETFs, and those big companies that hoard thousands of Bitcoins. I would say 5 - 15% of the buyers are actually purchasing Bitcoin for sovereignty.
Unfortunately, I live in a place where most people do not know what Bitcoin is, and the "educated" say it is a scam/not real money. Despite many bank closures & insane inflation recently haha.
Thank you for the information, since Bitcoin Lightning implementation is spreading to smaller places, I can only hope that by the remainder of the decade, we integrate LN- BTC here.
Satoshi Nakamoto being 2 persons should be included here - One of them was the one that made the initial whitepaper, and the other was the coder, who deleted their private keys after being raided by the CIA and commited suicide shortly after. Nick Szabo & Len Sassaman respectively.
The toast you linked to looks exactly like what you'd normally see in a kiosk. Seems like the technology is there, now need to see it be integrated.
There is a tool I read up online to mitigate crawlers/scrapers, it's called uncaptcha, FOSS (if I am not wrong) and the way it works is makes browsers do a small proof-of-work to access websites. Usually takes 4 - 6 seconds on a normal computer, but adds magnitudes of delay to crawlers/scrapers
Personally I see no point to using a custodial Lightning wallet when a wallet like Pheonix exists. You have your own seedphrase, and there is no BS attached to it. Just receive and send. Notes feature for convenience, that's it, no?
102 sats \ 1 reply \ @beameduplol 17 Jul \ parent \ on: Tether Fun Unbelievable Details - Part I bitcoin
Fair point. I was going through the CMC top coins in top 100, and nearly all of the coins are either defunct or faded into extreme obscurity. Mostly Litecoin & DigiByte & Doge and maybe Peercoin and Feathercoin to an extent.
Given the nature of Tether, would it not be FUDded out of existence? Back in 2014 I would expect users to never use Tether since cryptocurrency as a whole was very niche and Bitcoiners were usually developers, no?
Why is Tether (USDT) even called cryptocurrency? Doesn't look like it has any of the qualities you would expect a cryptocurrency to have, other than a blockchain, which they frequently reroll or mute. With information here, they are even more "unreputable"