I'll answer on most topics, but don't troll me. I'll start answering at 7pm UTC and try to go for 1-3 hours.
Some topic ideas:
- Slashtags / Slashpay
- DIDs/identity
- Lightning Tokens
- Blocktank / LSP's
- Hypercore
- Lightning Network dynamics
- Bitcoin dynamics/abstraction
- Web of Trust
- "Web 3"/dweb
- Good Morning tweets
- Xotika
- Bitrefill
- Hyperbitcoinization
- Business development
- Sidechains are a lie
Some things I'm not interested in discussing:
- Tether truthing
- shitcoins
- ETFs
- COVID
- Ukraine/Russia
- Politics
If you were running Stacker News, what features would you add, remove, or change?
Oh I dont know if I have used it enough yet to say, but I will try to answer:
maybe it already does some of these things or these are bad ideas, just riffing!
I think custodial balances are totally fine and jumping through hoops to remove the custodial nature of it has a real cost to speed of feature development. Also what most projects do to be “non-custodial” is ask for your node’s admin macaroon which is FAR worse than keeping a tiny balance with the site.
Custodial wallet accounts bring compliance requirements, legal overhead, censorship, etc. The whole point of Bitcoin is to hold it yourself, and the more we respect this, the better the tools we need will evolve.
We need browsers, desktop wallets, and browser extensions that handle these needs, not more accounts.
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🤣 Not a fan of my flavor of brutalism john?
It has admittedly grown on me after a few days of intensive usage.
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Otherwise, I think maybe the most underappreciated take is that Bitcoin is not divisible. I am worried that Bitcoiners both misunderstand that Bitcoin is an enforced integer total, having no decimals, but also misunderstand that dividing and multiplying Bitcoin are the same thing, and that one day we may have to make a hard decision to add more Bitcoins, and it might even be a majority of people that want it and for rational reasons. I am just relieved that I will probably be dead before that debate arises :)
I wish we never had the "Bitcoin" denomination and always used sats only. (and also that we had named them bits or bitcoins instead!)
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Why did you pick Hypercore to build Slashtags upon instead of much better supported projects like IPFS/libp2p or ION/IdentityHub/DIF?
These two competitors offer similar set of functionalities and they're being actively being developed by big teams of experienced people and are supported by millions in funding. Do you think they are all wrong?
We chose Hypercore for several reasons:
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Would lightning tokens require swapping services like DECs or would they simply be atomic swapped back into sats
I've also seen a lot of different implementations on how stablecoins could be added to LN, if they do go ahead like how would say USDT and a DLC stablecoin be interoperable?
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Does Lightning provide good-enough privacy today? (good enough to protect your mom, grandpa etc from having implicating metadata forever recorded.)
If not, could it ever? Or will there always be a need for a different kind of mixer service in addition to L1 and L2?
LN does provide certain privacy benefits, but the culture of the spec attempts to make it a global network with complex routing and thus some privacy is lost. Generally, direct P2P is an optimal privacy model, but once you start routing and sharing route data and listening for requests etc, things get tricky.
LN could and will be better, Synonym actually has some ideas about ways to improve it that we will probably float to the community this year.
Mixing is mostly dumb, I believe privacy is lost not gained, and that creating extra metadata is bad. That said, LN route mixing is interesting, and even more so once we have tokens and multiple assets to swap ;)
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I think stablecoins on bitcoin are a terrible idea, and potentially an existential risk. If stablecoins become widely accepted the issuer has immense influence over forks. This is doubly so because the users of these stablecoins likely don’t value Bitcoin’s inherent use case ( censorship resistance) or they wouldn’t be using stablecoins. So that culminates in a bunch of people who don’t really care about bitcoin using it and paying mining fees to do so and the issuer of said stablecoin getting to point those users’ mining fees at whatever fork they want, causing a larger financial incentive to mine on their side of the fork. What are the problems with this argument?
Stablecoins started on Bitcoin and never left and never had any influence on its code/health or the code of any other blockchain afaik.
Understand that every Bitcoin transaction is an abstraction of unknown value that the traders can ascribe any value to they choose. This is just how BItcoin works, you don't get to decide how people use it, or even know for sure. You are worrying about things that cannot be controlled.
You think a bunch of traders trading Bitcoin on exchanges or BlockFi yield or GBTC is any better?
The real attacks are coming from nocoiners, Big Banks, PoS shitcoins, and people that do not use the Bitcoin blockchain.
If you'd like to learn more about why we think tokens are important, listen to our recent Spaces about it, or my recent interview with Stephan Livera or Lunaticoin.
Thank you for your response, John.
The only value that matters (as the block subsidy fades) as far as miners are concerned is transaction fees, which is why I’m not really worried about bitcoin in exchanges, etc.
You make an argument that bitcoin has always had stablecoins so it’s a non issue, but that totally neglects the dwindling block subsidy. Things that may not have seemed like a problem could very well become a problem when miners solely subsist off fees.
Lastly, I admit that i cannot decide how you use the blockchain.
People seem to think that bitcoin is immortal or “inevitable” and nothing they do can fuck it up.
Imagine tether on bitcoin/lightning is so wildly successful that the majority of usd settles on bitcoin. Do you really think bitcoin (as a censorship resistant money) survives that?
You have it backwards. More people using Bitcoin for more purposes supports the block rewards in fees. You can't use Bitcoin without paying fees, even if you use it for tokens. Tokens add txns.
If you want to be concerned about fees being taken offchain, why don't you hate Lightning itself?
Yes, I think Bitcoin would not only "survive" your scenario, but thrive in it.
Well I’m sorry you might be delusional then. Think on it more and I will as well. Thank you for your time.
That is not an argument, it is an insult.
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What is bitcoin today?
Bitcoin is a MMO game. It is an abstraction for natural selection and thus evolution for human DNA.
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Do you care to elaborate on your last topic idea: “Sidechains are a lie” ? Thanks!
Sidechains started as an idea for creating 2-way peg from Bitcoin to an outside new chain. This design was never accomplished and so the "federated" sidechain was born. Unfortunately, in practice this functions very similarly to an altcoin in that the peg is a manual permissioned process enacted by central custodians.
Further, it is not a sound argument to call this a Bitcoin caling layer, as it does not scale itself and it does not deterministically settle to Bitcoin or use Bitcoin transactions to operate.
LBTC is not actually BTC, it is a token controlled by the federation which they currently offer a 1:1 exchange rate when entering and leaving their private network. This could change at any time if they choose.
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Do you plan on submitting a BIP for slashtags/pay? Or do you only see this as a 3rd party add on?
We have discussed it. We will mature it further and reassess in the future. We are also shorthanded when it comes to people with the time and inclination to write specs and prepare this kind of thing, but interest is growing quickly and we keep coming up with new ways to improve Bitcoin and LN, so I think the time will come when we start making BIPs and BOLTs and more...
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How long have you been a developer and what programming languages do you know?
Oh I know this one, he's not actually a developer. He just has a good understanding of a lot of the technical topics of bitcoin.
This is mostly correct. I actually learned BASIC and some PASCAL in grade school, as well as HTML, a little actionscript, and a little javascript after high school, but the only language I ever actually programmed with outside of classes was HTML, and the last time I did that was when websites were still made out of tables, so like 20 years ago.
I'm also an incidental hacker in that I've actually discovered major money-printing bugs in multiple well-known Bitcoin web platforms. I have some intuition for seeing how things work... or how they don't ;)
Really, I consider myself a designer above all.
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Who's building tools for businesses to run on BTC/LN? Thinking invoicing/bookkeeping, payroll and the likes? Is that something you could see yourself exploring?
I know Zaprite already and think it's quite good.
I don't really know, maybe BitWage? There are also some tax reporting tool websites for traders and such.
I have passive interest in a Bitcoin-native accounting system for nonprofits and state agencies to allow radical transparency & accountability, but I don't know if I will ever work on such a thing, kinda boring compared to other options for now :)
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Slashtags is quite interesting and exciting but I feel like there is a missing piece about notifications. All the passwordless logins are a bit redundant if the web app needs to collect emails in order to send notifications to the user. Any plans for the future on the matter?
Keep up the good work
I'm ready to use slashtags, but it doesn't seem ready/stable yet. When will it be ready for prime time? Is anyone using slashtags in production yet?
Nicd
Good Morning
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