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0 sats \ 0 replies \ @satyagraha 25 Dec 2023 \ on: Here's why there are deep incentives for a Bitcoin fork with the Ordinals people bitcoin
That's their problem, our solution is to mine, for individual and small scale mining to focus on Bitcoin not the profit from it.
Otherwise the golden goose may be stuffed with ordinalia for the benefit of miners (public profiteers) and die.
The ETFs sure won't kill it
The math, right there in the white paper of Lightning Network, states that block size has to increase to afford every human a personal payment channel.
Perhaps the number of humans could fall.
People thinking trade and speculation are the only/significant use cases.
Bitcoin is a savings technology and one that tests human coordination. If noöne accepts bids, nor undercuts the lowest ask, the existence of price insensitive users will monotonically increase the spot exchange rate.
There are few important bitcoin companies and casinos aren't any of them.
But whatever, it takes to feed Nic's unique and better opinion of himself.
It's not for gain, it is to sustain, otherwise currency rules instead of the people.
When a pool blocks ordinal "theory" spam, my .2 Thash will be there.
0 sats \ 0 replies \ @satyagraha 25 Mar 2023 \ parent \ on: Maybe Bitcoin NFTs Are a Mistake bitcoin
Bitcoin needs mining, it doesn't need more money for centralised profit making miners.
And really, less attention of the fashionable kind wouldn't harm a utility.
Not sure I saw anything "just" about Jack's bounty
I wonder how long your list of features is to grow before it looks just like Github, akin to the way NOSTR is looking more and more like Twitter.
The opportunity for NOSTR is much larger than Github, and Twitter.
It is after all, at core, a signed packet. And packets can do anything.
All kinds of things https://t.me/lnurl/34994
"Steelmanning" something poor Charlie Munger used to advocate, but in his dotage can't do it anymore, or at least not for Bitcoin.
Meanwhile, how come there are so many duplicates on the Telegram feed of Stacker.news?
Holding bitcoin doesn't make me a good person. It doesn't make me a smart person.
Holding is for people who know they're not smart and we're all full of shit in that regard.
Yes, there is disappointing hypocrisy in all corners of human existence and we're lucky that Bitcoin is a roach motel for our weaknesses, once we've set the terms, there's no going back and Bitcoin is effectively immortal. Make a change, most of us will ignore it.
Rules, not rulers, unless it's Ordinal Inscriptions and then, despite the rules permitting it, hypocrites start wanting their opinion of utility respected and their rules obeyed.
An open censorship resistant PubSub/store and forward network, and it's initiator is up in arms and attributing their opinions of a use case to the protocol.
Aye, we're all for our freedoms, but woe betide any that uses those freedoms without respecting our responsibilities.
SBF helped speed up a very necessary purge
That remains to be seen. If Gary Gensler and Maxine Waters disappear completely, then the necessary purge will be complete. Otherwise it's just business as usual.
Before this, perhaps some improvement in the tools for diagnosing channel inactive status.
Actually, not improvement, but existence. Given the whole game is channels that there's no way to get ANY information about the reasons a channel is INACTIVE is a glaring oversight.
Highly available bits would definitely demand methods to determine the health of channels and if they aren't available isolate and identify what the reasons are. Currently there doesn't seem to be much one can do but pray.
Bitcoin also possesses two uncommon features:
- Price insensitive buyers, DCA & transaction service users
- Zero demand response
Bitcoin relative to the pool of cash is small, from certain perspective though 10 times the size so is gold. But eventually the amount of cash required to shift the price of bitcoin will become large, and the growing number of holders who aren't expecting a narrow spread and take what bids they can find will learn to ask. Then we might see some smoothing.
- There's nothing stopping them. That they don't isn't part of the protocol.
- There are relay directories, note the plural, and there are relays that aren't part of any of them, note the plural.
Nostr isn't a centralised, solve your problem, profit making enterprise. There are rules, but frankly after NIP-04 it's all "make it like Twitter" bullshit.
It isn't Twitter, it isn't federated, it's going to work out its own way in the world and the apocalyptic predictions of silos, hoarding, may be right and Nostr isn't the solution. Making it like Twitter though is definitely not the solution.
Jameson Lopp doesn't know how many followers he has, he doesn't know now how many people read his profile and don't follow.
The easiest solution might be to make a relay that follows the relays you've added to your client, then others could follow that one.
PS. Note to self, read then respond. That way I'd find the idea has been implemented; #134918