7 sats \ 1 reply \ @justin_shocknet 19 May \ parent \ on: Mutiny Wallet Blinded Signatures Reposted On Nostr lightning
Solution to which problem exactly? Scaling?
I think most people will use Bitcoin in a trusted way and that most scaling advocates are lying to themselves by trying to scale to nowhere. Unfortunately, I also think we're near a self-custody maximum. Not for technical reasons, fees are near 0 still, it's just because its only an intransigent minority that will ever care about trustless-ness.
I agree, I don't use scamming the regulator as a pejorative- it was either @giacomozucco or @supertestnet that used this term in a conversation recently about how Tether used being a shitcoin to scam the regulator as opposed to just calling itself a bank (to great success honestly)
Wrapped invoices, ecash, federations, blah blah blah... are all similar to Tether, using buzzwords to obfuscate the trust point.
It's when scamming the regulator turns into scamming the user, by implying trustless-ness, that's where I have a problem. That's becoming pervasive. At least Tether never pretended to have better trust trade-offs.
Missed these above...
SN is pivoting though to non-custodial, which is fine and understandable, but I had to correct that post saying it would use a trust-less wrapped-invoice mechanism to achieve this... it won't be trustless. Therefore, it's also not a direct benefit to the user, just more friction and less reliability in the name of custodial deniability.
I've been transparent in shilling my project that endeavors to succeed LNURL by using Nostr, as Nostr inherently uses signatures for any data transacted so that the invoice delivery does not have to be trusted.
Building actually trustless products that create new and permission-less means producing income streams online is the only hope of breaking through that self-custody maximum. It's one thing to trust pocket change, it's another to trust an income stream.
Using Nostr to obviate the networking challenges of node running shifts the juice to squeeze ratio in the node-runners favor, that's what we should be doing... not these weak obfuscation schemes that will age like milk.
Thanks very much for your response. Now I have a much better idea of where you're coming from, and your proposed solutions. I am definitely going to check out your project.
reply