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0 sats \ 1 reply \ @m0wer 17m \ parent \ on: Below 1 sat/vbyte fees - are they here yet? bitcoin
Yeah the units are a bit weird: BTC/kvB.
This is my conf. The second one is to raise data limits already, but this is more controversial nowadays.
For some reason I always have peers that broadcast transaction with lower fees. Without even hardcoding any. You could force the connection to some specific peers if you want to make sure. I think transactions in the mempool are not rebroadcasted by default.
Sparrow does allow for fees lower than 1 sat/vB. You just need to connect it to a Bitcoin node that has a lower minrelaytxfee 😎
Very bad first experience...
- Need to register. Why? Just generate me a random token and save it in web storage or something, like https://lightning-roulette.com/ Or let me log in with nostr or LNauth. Better to not log in at all. I would only think about disclosing some data such as npub or LN pubkey once I win something.
- Captcha. For real? Just make people pay to play and forget about accounts and the need for captcha. Also the wait to log in again. Annoying.
Meant as constructive criticism.
Honestly fuck compliance. Bitcoin is Bitcoin. Someone leaked their keys and got stolen? Or hacked? Sorry for them. But let's not make that everyone else's problem.
I'm curious about it! And would love to be “proved wrong”.
Boltz and SN come to mind. The question is if the profitability to risk ratio, considering the opportunity cost of the man hours put into them, exceeds hodling.
What do you think? Any data or more examples?
Preserving purchasing power across space and time is the problem that money solves. Bitcoin does that with the nice additions of limited supply, low cost of self custody and censorship resistance.
If for chance apart from that we have the luck to be early adopters and experience a growth in purchasing power due to its expansion, even better.
Putting my salary into Bitcoin, self custodying it, running a node, running LN nodes, and sharing knowledge is something that comes naturally as the bare minimum and a nice contribution to its success.
The question of Bitcoin entrepreneurship is not so clear. For example, if I sell part of my stack to acquire or start a business, it only makes sense for the world, Bitcoin, and myself, if I expect to make even more Bitcoin than I spend from it. And there is where things get complicated.
Playing around with Bitcoin, LN, NOSTR, sure, happy to do so. But a serious commitment to an economic activity needs to be better than HODLing for it to make sense. And I haven't found such opportunity yet.
Forget about what I think or my motivation. Think about what's best for Bitcoin success better than just HODL. Which is perfectly compatible with participating to grow the ecosystem. The dilemma is that it seems that the best thing one can do for Bitcoin with their accumulated purchasing power is just HODLing. Fine. But less exciting than entrepreneurship in the new cleaned up financial system.
No. I'm saying to use a timelocked address instead for the goal of locking some coin until date X. That timlocked address can be controlled by a hardware wallet.
If someone were to do that, they could at the same time profit from using those locked coins in cold storage as a fidelity bond to get free coinjoins and earn fees as makers in JoinMarket. It's only those other coins that are “at risk” from being on a hot wallet.
But even the risk of having them in a “hot wallet” is orders of magnitude smaller than giving them away to some company and hoping to get them back at some point.
You can charge a fee for others using your UTXOs to coinjoin with. Makers with large fidelity bonds (in size and lock time) get chosen more often. Being ablento make 0.01% of the coinjoin size multiple times a day. It's hard to tell, but I estimate that the largest bonds can make over 2% yearly yield in their total locked+available Bitcoin.
Here is an instance of the orderbook where you can see the bond values and fees: https://joinmarket.sgn.space/
omg... why...
You could have just sent it to a timelock script address that only you control and use it for a fidelity bond in joinmarket. For free coinjoins and real Bitcoin yield... And in cold storage...
Instead you chose to give it away...
Then it might be the case that it's not a good idea, if your main motivation is to do it as an investment.
Solar is great as a complement but not as the only source. Even with batteries you won't be able to preserve energy for the winter. And the batteries cost and wear can be significant even if only for the nights.
This might be interesting for you as well: https://smokinghopium.io/