This is a thread for random discussions that gets posted everyday at 5am central.

Tell us what you're doing today, ask questions, or vent about your life. Whatever you want, let it rip!

Ask SN: My kids are losing motivation to earn sats in our gig-microeconomy when their past earnings aren't redeemable for as much toys as it was before. Yes I know its counter-intuitive since they could be earning more sats at these prices, but their past work feels like it was in vein. Chores are priced in dollars and its converted to sats when they're paid. How do I reinvigorate their desire to earn in this bear market?

121 sats \ 2 replies \ @jeff 22 Sep

Interest rates. Pun, very intended. :)

Lend them money, and tell them the rates are volatile, but fixed after they lend you money. Make them determined by "the market". Except, in reality, you adjust rates based on their interest. Get the pun?

I tried to get them to understand self-banking and paying yourself back with interest but that went over like a lead balloon and they got terribly confused and thought that I was explaining simple saving.

Its not a bad idea to introduce lending, but if the loans were priced in bitcoin that could tear them up when the price multiplies several times. Deflation is terrible for holders of debt, wages go down but the loan stays the same.

If I gave them a loan in fiat (an inflationary currency), and let them pay it back over time with their bitcoin (deflationary asset), this could work to their advantage and help them retain their past earnings.

I could also collateralize their loans, so if they default, I can take back their toy and sell it at a discount to their siblings. Devious, but it might work.

I just re-read my own reply. I mixed up the advice in my first 3 words of the advice part. Must have been multi-tasking. Sorry.

Correcting, and clarifying:

Borrow money from them. Post a daily rate that changes, based on their interest in lending you money, but lock it in once the deal is struck for a specific term.

Do it in BTC terms. High interest rates. I'm talking like 200%.

Kids need to see and measure the difference day to day. From their horizon, any fiat is stable.

Presumably you could afford to pay triple digit annual interest for a week or two on on their (assuming small) stack.

Start with everything priced in sats. Then their perspective will be different. https://www.pricedinbitcoin21.com

It fluctuates too much for that to work. Pricing in bitcoin isn't practical until the price stabilizes. I could, on one hand, price their work on the future value of bitcoin but then they wouldn't be able to use it at all until it reaches that value. On the other hand, I could price everything in today's value of bitcoin and hold it there indefinitely but then I would be overpaying them in the future. If I adjusted the prices every day, week, or month, that might be more equitable but its also cumbersome and its easy to fall back to just using the spot price when its time to pay. If I price everything in bitcoin, that's a great idea but given I would need to adjust it every day or week, I'll quickly forget to update it and will again fall back to using the spot price.

One approach I tried was to ask them to send me an invoice using alby which requires them to calculate the number of sats. This hasn't worked out as well as I had hoped, they just forget to bill me for their work.

I'm trying to motivate 4 kids between 3rd and 7th grade.

I know is hard to let go the "fiat price mentality" but is a must. I was in the same situation few years ago and always I was in a continuous frustratikn doing calculations etc until I said fuck it, this fiat is useless. So I start doing it the way around, fiat --> sat, in my mind and slowly my frustration was gone.

All this come from our "trained" mind forced to think only in fiat amount. As old users is very hard for us to get rid of it. Don't let your kids to fall in the same thinking as us. They are our future.

You are doing great job with them. Well done! May the Bitcoin be with them and with you!

113 sats \ 0 replies \ @Ge 22 Sep

Got another long day but am truly blessed for all my family and friends! Stacker news fam yall the realest

130 sats \ 0 replies \ @ivan 22 Sep

It seems to me there are two concepts vying for dominance on the lightning network, and it seems to me that we can only have one or the other.

Namely Zero Fee Routing vs HODL invoices.

Zero Fee Routing cannot allow for many pending HTLCs because a force close with many pending HTLCs creates a large on-chain transaction that is expensive.

But HODL invoices require many pending HTLCs. So unless something changes, one or the other is going to win. But i could be wrong.

My living space is so depressing and I don't know why.

Oh man, that's no good. Houseplants are free if you too have abandonned houseplants at the office or have the motivation to get into yamadori Bonsai! And they light up the mood tremendously - at least for me!

2 sats \ 0 replies \ @gd 22 Sep

Morning SN, Another fine day to work on Bitcoin

10 sats \ 2 replies \ @jeff 22 Sep

As narrative wars ramp up, need everybody to call out that the USD is not the World's Reserve Currency. That is propaganda. And the reason for the raise in rates. And the reason for the recession the FED is inducing.

Narrative wars? What war? Almost nobody disagrees with that, at most it's that people don't care or don't understand it. But there is no "war" about it.

paranoia? much? 😂😂

21 sats \ 0 replies \ @jeff 22 Sep

There definitely is a long list of intentional overloading of vernacular designed to push certain narratives and reach certain outcomes. I use the word "war", intentionally, to meet them on their court.

A few days ago, I said I am going to take out a loan to buy more bitcoin. This is the post: https://stacker.news/items/71281

I mentioned there, I would have an appointment at a bank today. Unfortunately, the bank called me and told me that since I was a student, I would need to bring in my application for a student loan. That wasn't written on their website during my online application for a loan for free disposal.

Since that would mean I don't get a lump sum but only monthly payments (instead of me paying monthly), I didn't call them again to make out a specific time for today.

But now I think, maybe I should call them and clarify: I am not interested in a student loan but private loan. Let's see.

I already looked up other banks but there is a bug while verifying during application: I already successfully verified myself with an agent but the online application still shows it as "verify to continue". And if I want to verify again, it says: Already verified.

Why are all my experiences with banks like this? Haha

There was few days ago a guy that posted on SN his experience, in three parts, with taking a loan from a bank to buy more BTC. I can't find it now. The search option in SN is not so well trained.

@k00b we really need an option top "save for later"a post and keep a link in user profile or something.

But that story is truly well detailed and interesting.

Ah, yeah. Would be nice to read this story, thanks for searching! I assume he wasn't a student like me?

I am still looking for it. It is a very interesting and well written experiment. I wish I save it that day but I was busy with something else.

Haha, no worries. Good to see that even the mighty DarthCoin forgets to bookmark something

I called the bank again now to clarify. I was told the bank will call me again for a new appointment and he noted that I do not want a loan for education but instant payout since my last application was most likely already rejected due to my status as a student.

“Twitch is cutting subscription paychecks for its biggest streamers as the creator economy grows more competitive“

This is a problem Lightning solves

Shouldnt they be increasing the paychecks if the creator economy is more competitive? Otherwise creators will go elsewhre?

it is. If somebody made that product that people actually use

11 sats \ 0 replies \ @F 22 Sep

Flagging / wild west mode looks awesome, thanks k00b!

Any plans on introducing a blocking function?

I sometimes have the problem that clicking on a link does not navigate me to the specific sub-page.

Browser says it finished loading but I still see notifications/recent/main page

Happened on several browsers, tried on several hardwares. Might be correlated to bad internet, idk yet.

I'd suspect bad internet because this is an experience I have on intermittent bad internet.

But shouldn't the url bar stay on the site I'm actually on? 🧐🧐

It's kind of the way nextjs works (routing is taken over by js and not given to the browser). Perhaps we should surface an error though. I'll add a github issue.

It would be nice if SN had a search bar

11 sats \ 4 replies \ @gd 22 Sep

Right at the very bottom of the page ;)

OMG, I thought that was page to post links. LOL

also the search icon looks like a table tennis bat 🏓

86 sats \ 2 replies \ @gd 22 Sep

Yeah, it's not an obvious one, for some reason I always think it's a frying pan

LOL going to change that today.

some people are thinking too much about food :)