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374 sats \ 6 replies \ @plebpoet 9h \ on: Stacker Saloon
this week's zine cover
I'm finishing it rn
anyone have something they want to add?
whatever you say in reply I will be compelled to print
I've been going to all the Bitcoin meetups in my area after getting inspired again and my experience last night was a little intersting going to a new meeting. There were 2 speakers and while both said BTC was probably the safest bet they were shilling alt coins saying that if you wanted to get some crazy gains you gotta take risk. They had bought FART as well as TRUMP coin and were pushing something called hbar. At one point someone said that McDonalds was gonna start hashing because hash power is all that is gonna matter to stock investors and we will hit 1 million in less than 2 years. I think there was like 15 people there and only time the speaker got some push back was when he said AI coins are the real future. I guess just watch out where your getting your information from. I was live reacting in our friend signal chat it was pretty painful at times
Here's an anecdote: my dad knows about bitcoin. Despite my offers to set him up with cold storage he never decided to do it. Here comes MSTR and he's buying it like crazy in his Fidelity or Schwab or whatever he uses. Doesn't want to talk about bitcoin. Wants to talk about MSTR.
A group of investors I know meet once a month to talk about potential deals they have heard about. They talk about bitcoin every single month. Nobody went further than one guy who holds it on an exchange. Here comes MSTR and now several of them are gobbling it up.
Both cases people knew about bitcoin, bitcoin self custody, and a general idea of the risks of not your keys...yet it wasn't accessible to them until they could buy it in something like this. Honestly, they weren't even as interested in the ETFs.
At least for retail, it's got something to do with making bitcoin accessible in a way these guys feel comfortable with. Maybe?
I'll propose a 3rd possibility: automated trading bots that trade on historical correlations. All they can see is that these companies look like leveraged bets on bitcoin's price and so if you expect bitcoin to go up, you expect these companies to go up more, not for any fundamental reason but just because that's what the data shows.
Hey stackers, new here.
I'm trying to set up my send wallet. In the wallet section it is saving my Blink API, and it also is giving me the green send arrow in the blink box, but I don't have my gun indicating something is wrong. I do show this error in the logs:
POST https://api.blink.sv/graphql: 401
the one good thing about slow-ass mail cash v robosats is that with robo, if you are using revolut, wise etc (which basically all EU sellers are), they might flag a larger transaction and put you through the ringer. who is this from, what is it etc.
i suppose a trad bank could also do the same thing, although at least with them you can call and talk to a human
As I ponder this, the two answers that seem most plausible are 1) trapped capital, and 2) crazy financial bubble.
Otherwise, I can’t wrap my head around people who don’t believe in bitcoin enough to YOLO HODL, like us, simultaneously believing in it enough to drive up the treasury company valuations.
If you believe in bitcoin, you hodl. If you don’t, then you don’t believe in bitcoin treasury companies either.
Yes, there are some examples of this:
Keene NH:
seems like rehypothecation is not permitted but even if eventually fractionally reserved the issuance originates from treasury debt rather than Fed Notes and bank lending.
Their origination will be a direct competitor to bank dollar ledger money.
For example, get a house loan in USDC, the interest rate is set by the bank and the creation of the USDC that the bank loans you is backed by US treasury debt rather than the banks balance sheet (which is backed by federal reserve bank reserves)
Your ecomm store is saying "no" to tons of sales if you're not accepting Apple Pay yet. Why?
Its not because Apple Pay has the best privacy, or is the "safest" with respect to escrow, trust, etc. Its not even the tech that is superior.
Its because most people have an iPhone. That's it.
Apple has 92% of the digital wallet market share. They process $6 Trillion per year.
I don't think even 1% of people have access to a Bitcoin wallet loaded with sats they can spend on a whim.
Its not that bitcoin is unworkable at scale. Its just unworkable. Unless your business is only targeting those 1% of people with sats to spend, there is no scale to work with in the first place.
it pointed out all the deficiencies in my code
The first complaint looks valid but really poorly addressed by the digital overlord - I don't know the codebase but in general this is something that human review may have flagged up too. I saw your comment "this never happens", but that makes it all the more important to fix the code.
Think of it this way: if a field is never
undefined because it is always set on every possible code path, then you shouldn't put a default but instead do error handling (and logging!) when encountering undefined. Assigning a default value on a case that should not exist is a problem because if for any reason (in the future) it does exist, it shouldn't just gracefully apply your assumption. Assigning a default value is what leads to hidden tech debt in this case, because it will mask future errors.The perpetrators behind the scams often use techniques such as “peel chains”—in which crypto is broken into smaller amounts and passed through hundreds of wallets—and “chain hopping” to move assets across blockchains and currencies to mask their movement and origin, according to the complaint.
I just want to know what the desired end state is for such scammers: do the go for USD or stable coins or bitcoin or monero. Always wish they would provide more details.
Welcome
For problems like this, you want to get @ek's attention.
Got it. Yeah, I think it's helpful, almost like a linter on steroids. But it's hard to know where to draw the boundary of helpful feedback and stuff the developer already saw and just didn't think was an issue.
I was assuming fractional reserve banking would occur on top of stable coins. There’s still no reserve requirement for banks, so why would they constrain their lending to the stable coins in reserve?
There are enough of us. We're just spread out globally.
I would bet that if just 10% of the global Bitcoin community moved to a chosen area, they would be enough to make an average sized U.S. city. And it would thrive and become and example to the world.
Well... thank you up till here! I loved seeing and putting names to different cat species.
And if you allow me., I can tell you that one of my skills is digging up info.
If you want and wish I could provide you with a list of some breeds to maybe check if these could make a kind of "Season 2" for this topic. :D
For example there is the Arabian Mau - from what I searched on SN this was not mentioned yet. Info on it here : https://www.viovet.co.uk/breed_information/1-9/Arabian-Mau
Just let me know if you want some help in this.