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0 sats \ 0 replies \ @standard_sats OP 15h \ parent \ on: While we are grumbling over other things, we might just loose Bitcoin!! bitcoin
Bitcoin mining centralization is a cause for alarm, no doubt.
I'm looking at it from the standpoint of what is at stake, really. Bitcoin's protocol security is dependent on how decentralized the network is, and much of the power of protocol decision-making lies with the nodes. Think of the nodes here like the U.S. Senate.
For a system that is rapidly and drastically becoming economically valuable, the number of decision makers (a.k.a nodes that protect the integrity of the network) seems really small, especially when weighed side by side with the number of people using that network and the value vested in it.
If your numbers are accurate, then the growth rate of the nodes post 2021 is reasonably cool, cos it means there are 7+ new nodes every day from 2021 till date. However, my attention is on the general number.
We should have the least 100k nodes accounted for, while hoping that there are numerous other ones not accounted for.
This sounds like it. Just like lightning routing fees for lightning nodes, right?
I wonder if such a BIP is on the desk already.
Thank you. I've tried to download and run Zapstore on Linux over the CLI, but it keeps giving an error "command not found," and the documentation is not very clear on how to troubleshoot such errors.
Could you please offer a guide on how to use Zapstore? We could chat over Nostr or any platform of choice.
You could as well drop a guide here. Any which way you are cool with would work.
Great recommendation. Would check this out right away.
You mentioned Valet in one of your articles, I think the one where you described Private banks over lightning. Thank you for the mention.
This is not true. Ecash does need internet.
Basically, hosted channels could be transferred similarly to ecash, even Lightning channels. So idk imagine Valet ♦️ does that.
We don't have VCs $$$ to maintain OS agnostic wallets. Besides, Valet ♦️ is only on FDroid due to Googles KYC policy.
Simply put, "Bitcoiners should lead by example". It doesn't have to just be Bitcoiners who own companies. Even Bitcoiners who are employed by a firm or are self-employed should start asking for paychecks in Bitcoin.
Imagine if every Bitcoiner were like Russel Okung from the NFL.
I love the idea of "charging a fiat premium".
I have a weird personal inclination that, as the Bitcoin fiat value continues to increase, it might push people to draw back on spending Bitcoin. And we may not hit a full Bitcoin Standard if people do not readily spend Bitcoin for things.
And for countries, I think the most they'd do is to make Bitcoin a reserve asset. Going Bitcoin Standard for countries will mean that "Politicians will no longer print money with their friends,". I doubt if they'll ever give that up.
That is why we are building Valet, a self-custodial Bitcoin/Lightning wallet designed to work in the remotest of areas, and can work on very old Android devices.
This enables just about anyone who can lay their hands on any smartphone to access Bitcoin from almost anywhere in the world.
And yeah, valet simplified user experience, making Bitcoin usage very simple, even setting up self-custodial Lightning channels.
Check out Valet here: https://github.com/standardsats/valet.
Learn more: www.valet.finance
I honestly tried to figure this out but they have the only contract on Ethereum which bridges XLM tokens so I don't buy it.
I'm reading all of the report tonight.
Anyone with foresight should know that Hal most likely predicted the most accurate future of Bitcoin in one of his comments in the Bitcoin Forum back in the day when he said something about Banks issuing Bitcoin-backed currencies.
Great job, Eric!!
....and religion almost always ends up with some sort of toxic fanaticism, or say "extremism"
Is it really a good thing or is it bad? Can it possibly cause a stall in Bitcoin adoption?