Lol depends on where you stand on stablecoins and shitcions, because thats what it brings to nostr too


Your seed phrase is not tied to a specific software, you can use any interface/wallet software, you can move to anyone as you like, but this is ideal if you're using hot wallets


🎉 [Breaking News] #Taproot Assets Mainnet Launch on #NostrAssets!

Starting with Taproot assets and ofcourse Bitcoin as the first methods of value transfer with your nostr account.

https://nostrassets.medium.com/announcement-unlocking-lightningfi-taproot-assets-go-live-on-nostrassets-mainnet-c275dc349ef6


Lol 30 would do me nicely, honestly


You could get them send it to a new address that you control with new keys


Lol not a bad strategy


So you could just sit around with multiple millions potentially in your hand totally unbothered?


Another day, another group of people learning about how to properly store their seed phrase. Unless you want to lose your funds or keep them at risk all the time, store it offline, don't use online services to keep your keys, don't take ease of use over safety or pay the price big time

https://cointelegraph.com/news/lastpass-breach-hacker-steals-millions-crypto-wallets-zachxbt


Keeping the Bitcoin network chugging along and encouraging miners to keep up the good work doesn't come cheap, in fact, it costs Billions

https://thebitcoinmanual.com/articles/btc-security-budget/


If you had 7002 Bitcoin locked on an encrypted USB that would erase the contents after too many failed attempts, would you make a deal with a team of hackers to try and crack it or would you hold that worthless yet priceless device and hope that something comes along in the future that could unlock it?

https://www.wired.com/story/unciphered-ironkey-password-cracking-bitcoin/


The earn interest on your #bitcoin was a big pull last bull run and we saw many companies offer interest on bitcoin deposits that ended up dead in the water, Celsius, BlockFi, Voyager and more.

Gemini also had an earn product that they offered through a third party and handed over customer funds. They have not paid back customers and are still trying to get Genesis Global, to pay back the money.

Gemini is suing them for over 60 million shares of the Grayscale Bitcoin Trust (GBTC) that were pledged as collateral.

If you think self custody is messy, wait till you see how messy bankruptsy is

https://www.coindesk.com/business/2023/10/27/gemini-sues-bankrupt-lender-genesis-its-former-partner-over-16b-worth-of-gbtc/


lol same here, and its not because I didn't try and fail at other things, eventually i got to bitcoin


Looks like the Swedes are ahead of the curve in Europe heading into a recession and the first out the gate as a central bank to admit that interest rate hikes have rekt them and now they need the taxpayer to fund their 7 billion dollar hole in their balance sheet

Luckily Swedes are so used to being taxed up to their eye balls

https://www.bloomberg.com/news/articles/2023-10-24/riksbank-says-it-will-need-more-than-7-billion-to-cover-losses


And what plan is that? Taxing inheritance even harder so millennials that did get something from previous generations get a lot less


Millennials and gen Z were left to hold the bag created by ZIRP and now many of them have no hope, some might be lucky enough to get jobs in industries that pay competitive wages, others might inherit assets or a business, but those working a job, trying to save and do what previous generations did are NGMI

Something has to change, but this system won't so find a system that will work for you, one that rewards you for saving

https://www.zerohedge.com/markets/broke-millennials-wait-boomer-parents-die-next-great-wealth-transfer


UK lawmakers green-lit the Economic Crime and Corporate Transparency Bill under the guise of stamping out criminal activities, including drug trafficking, cybercrime, and terrorism.

Provisions in the bill give broader powers to local cops and will let them seize Bitcoin with criminal links without a conviction, and it starts here but where does it end 6102 of everyones #Bitcoin?

https://www.gov.uk/government/news/robust-new-laws-to-fight-corruption-money-laundering-and-fraud


Some people will never be ready for self custody and creating options for the kids and grandma is a must if we want more users to adopt #bitcoin and not bork their custody and lose their sats

https://thebitcoinmanual.com/articles/social-recovery-wallet/


Ofcourse, just providing my arguments so some can avoid these distractions should they buy what I am shilling


Now that the BRC-20 bros have run out of money, the chain has gone quiet and we need a new narrative to get people to trade on-chain and play ape games, will Runes be that trigger?

https://thebitcoinmanual.com/articles/runes/


Zapple launches AutoZaps which uses Nostr Wallet Connect (NWC) to ping your wallet with a Zap request on a regular, predetermined interval, creating an easy way to subscribe to your favorite Bitcoin projects, content creators, and builders and ping them sats

https://www.zapplepay.com/autozap/


If you have a #WordPress site up and running and you want to start selling your products, time or services for Bitcoin, here's how to quickly upgrade your checkout process

https://thebitcoinmanual.com/articles/accepting-btc-woocommerce/


Spam your friends or the wider lightning network by dumping sats into wallets with a special message

https://thebitcoinmanual.com/articles/satograms/


Lol this man is the king of own goal statements


Bitcoin seems to be getting some love, I wonder if it's because of shorts liquidated the last time or people are taking note or placing a speculative bet on future ETF news. While the ETF news was proven to be fake, maybe this is a what if it is true, FOMO

While #Bitcoin has played with 30k many times, this isn't the same 30k, the first time it broke this range was December 2021 and with 2 years of inflation that same 30k is around 34k, so are we really moving up or just moving sideways?

https://blockworks.co/news/bitcoins-above-30k-sentiment


You no longer need to login to services like Binance to go ahead and wreck yourself, you can now do it on-chain or with permissionless services, enjoy degening without the KYC headache

https://thebitcoinmanual.com/articles/on-chain-btc-derivatives/


Yeah well a lot of people are still trusting service providers with Bitcoin too, so they're not any safer


Lol always count on it and never keep more in WOS than you're willing to lose


This is why any social media rewards system that isn't using native Bitcoin is merely a rug pull in the marking.  #Reddit is just another example, thinking that because they're an established website they won't leave you as the bag holders.

The service announced the winddown of its blockchain-based community points program and insiders like the mods dumped on the news and left anyone who had buy orders with useless tokens and any holders as well

Sorry but I'll stick to #nostr and Bitcoin, thank you very much

https://cointelegraph.com/news/reddit-mods-dumped-tokens-hours-before-blockchain-program-termination


Lol exactly its just providing pattern recognition from the data and presets you give it


That's my view on it, leave no coin untouched, except satoshis stash, lol if you've burned your keys you get to stay "clean". Mining pools should be payjoining/coinjoining when they distribute funds to miners, okay maybe the KYC pools won't because they will bow to the shareholders and governments but others should have no issue with it

I really like the idea of Statechain swaps with an LN channel attached to it, that would seriously F up tracking too lol

Once everyone is a criminal then there is no issue with fungibility either, only a bunch of pyschos who have mined virgin Bitcoin and want to sell it to institutes and governments who now can only sell it to other regulated entities, good luck managing that shitshow


FinCEN claims that because North Korea and terror groups using #Bitcoin mean we shouldn't be coinjoining, but over a long enough time period all Bitcoin becomes tainted. The more we transact, the more we coinjoin the more the UTXO set gives chain analysis a headache to try and pick and choose which coins are good or bad

Make payjoin the standard, use joinmarket, make statechain mixing the norm. Keep giving them pain

https://www.fincen.gov/news/news-releases/fincen-proposes-new-regulation-enhance-transparency-convertible-virtual-currency


What a crazy story, while they can slander people and call it money laundering I don't see in-person cash P2P markets going away anytime soon, and the more they push KYC on people, the more it becomes costly to run an exchange, the more these markets get liquidity

We need "gangs" like this in every country in the world!! And they should be using #nostr to communicate with one another, this is the way :)

https://www.404media.co/inside-a-30-million-cash-for-bitcoin-laundering-ring-in-the-heart-of-new-york/


Lol nope, just a usual crypto news site


PSA: Always check your addresses before you send Bitcoin, or you're just rugging yourself

Also don't order hits on the dark web either, just stack sats and hodl

https://protos.com/doctor-hires-hitman-to-kill-girlfriend-sends-bitcoin-to-wrong-address/


A Technical Analysis of the #Nostr Protocol 🤙🏻
#grownostr #security #privacy #analysis

Nostr is an emerging protocol that allows users to publish short messages called "events" in a decentralized, censorship-resistant, and cryptographically verifiable manner. It has the potential to enable privacy-focused social networking and web3 applications.

This analysis examines Nostr's technical design, highlighting key components, vulnerabilities, and areas needing improvement. It is intended for readers with a passing knowledge of cryptography, networks, and blockchain technology. Casual users may find some sections challenging, but I aim to reward patient, focused reading with deep insights into this novel protocol.

# Overview 💻

Nostr utilizes digital signatures and public-key cryptography to authenticate events published by users. Users generate a private/public key-pair, registering their public key on the network. This key serves as their identity. Users sign events with their private key before publishing to relays. Relays then distribute the events across the network. Clients can verify event integrity via the signatures.

This high-level architecture offers censorship resistance and verifies event provenance. However, complex challenges emerge when examining Nostr's design through a technical lens.

# Cryptographic Foundations 🔒

Nostr identities are generated as secp256k1 key-pairs. This offers compatibility with external systems like Bitcoin and Ethereum which utilize the same curve. Key-pairs are generated on the client side, ideally using a secure random number generator with sufficient entropy.

Once generated, the key-pair should never be transmitted. The private key in particular must be kept secret. Nostr clients are thus responsible for properly securing keys. Future clients should support encrypted local storage, multi-factor access control, and seed phrase backups. Weaknesses here compromise identity ownership.

All Nostr events are signed with Schnorr signatures using the author's private key. Schnorr offers a space-efficient signing algorithm but relies heavily on random nonce generation. Poor entropy pools during signing open the door to compromise via nonce-reuse.

Fortunately, the nonce is not revealed on-chain, limiting exploitability. Nonetheless, clients should implement RFC 6979 deterministic nonce generation. This eliminates randomness as an attack vector.

# Sybil Resistance 🫂

Nostr's open design allows anyone to generate a key-pair and immediately participate. There is no imposed cost-of-entry or identity verification preventing Sybil attacks — a weakness compared to systems like Bitcoin.

A single actor could trivially generate millions of identities. Combined with Nostr's re-posting mechanics, this amplifies the potential scale of disinformation campaigns. Similar techniques have been exploited on social platforms like Twitter.

Nostr currently lacks robust Sybil resistance. Possible mitigations include rate-limiting new key generation, requiring Proof-of-Work, and leveraging Web-of-Trust style reputation systems. Careful design is needed to prevent undue centralization.

# Metadata Privacy 📝

By default, Nostr events are publicly accessible. They contain metadata including the author's public key. Clients can correlate events across relays to profile users. This reduces privacy, especially for less tech-savvy users unaware of the risks.

Future Nostr clients should make pseudonymous and encrypted usage easy. Predefined "personas" with distinct keys, ephemeral keys, mix networks, and metadata stripping should become standard privacy tools.

However, blindly encrypting all content poses discoverability challenges. Search, filtering, and network analysis rely on accessible metadata. There are open research questions around balancing privacy and utility.

# Censorship Resistance 📛

Nostr's decentralized architecture should make censorship technically challenging. There is no central entity that can eradicate content or ban users.

However, Nostr's relay infrastructure poses centralization risks. A handful of large relays could potentially collude to censor events or de-platform targets. Nostr needs robust incentives for relay operators to prevent oligopolies.

Censorship at the relay level also remains an open challenge. Existing systems like Secure Scuttlebutt explore concepts like relay "matchmaking" and sharding events across diverse relay groups.

# Spam Prevention 📬

Nostr's public nature makes it vulnerable to spam. Computational Proof-of-Work and fee mechanisms have been proposed but neither is foolproof. Clever anti-spam that resists censorship and gaming remains an open research problem.

Basic rate-limiting on new key registration, events published, and introductions sent helps but is trivial to circumvent. More advanced techniques like fees weighted by account reputation, staking mechanisms, and selectively applying Proof-of-Work based on risk factors warrant exploration.

# Secure Key Management 🔐

Nostr's security model depends on users properly managing private keys. If users select weak passwords or store keys improperly, malicious actors can compromise their identities.

This poses an enormous challenge given that most users lack crypto-security knowledge. Nostr clients should implement multi-factor authentication, encrypted local storage, and easy-to-use backups like seed phrases. Usability testing is critical — security mechanisms that seem too complex may be ignored or circumvented by users.

Platforms like Keybase demonstrate the difficulty of making key management accessible. Nostr clients should learn from past efforts while recognizing the uniquely sensitive nature of social networking data.

# Scalability 📈

Nostr's throughput is limited by its relay infrastructure. Early testing suggests relays can comfortably handle 2000 events per second. Further optimizations like compression, sharding, and efficient routing algorithms will help.

But fundamental scalability limitations remain. Relays are constrained by bandwidth, storage, and real-time event processing. As adoption grows, demand may overwhelm relay capacity. Possible mitigations include sharding the network into relay clusters and introducing client-side caching.

Incentivizing a robust relay network is critical for scalability. Nostr currently lacks effective incentives for operating high-capacity relays. Ongoing research into decentralization-compatible business models is essential as utilization increases.

# Conclusion 👨🏻💼

This analysis reveals that while Nostr offers a novel approach to decentralized social networking, complex technical challenges remain. Sybil resistance, metadata privacy, censorship resistance, spam prevention, key management, and scalability all warrant additional research and protocol evolution.

Nonetheless, Nostr represents a promising step forward in an era of centralized platforms and compromised user rights. With transparent analysis of its strengths and weaknesses, collaborative research, and responsible protocol design, Nostr may yet fulfill its aspirational goal of user empowerment. The road ahead will require vigilance, creativity, and a commitment to the open, decentralizing ideals which motivate this project.


South African Bitcoin markets tend to trade at a premium to the rest of the world and arb traders are making the most of the spread. Here's how it works and how you can get involved in bringing #Bitcoin into South Africa

https://thebitcoinmanual.com/articles/sa-btc-arbitrage/


You shouldn't have to create burner emails or give up your private email just to access a damn online service and with Auth47 you don't have to, so start pressuring your favourite apps to adopt this login feature

https://thebitcoinmanual.com/articles/auth47-paynym-accounts/


Bush mining is the way man, I love it!


Sometimes a new mining site in Africa has some surprising visitors!

🦓 🦒 https://video.nostr.build/476508d35995fc6c4728ec5e344b6afb8575a9e8b85353bf6d853ad2dbbbcc4b.mov


If you’re not connected to your own Full Bitcoin Node then any transaction you send or receive, your balances, wallet info and more can all be tracked, recorded and tied to your IP Address and identity.This extremely private information about your finances can then be shared with governments, sold to unknown third parties or worse, hacked and sold to criminals and scammers. The best way to counter these risks is to address the data leak at its source.
Although Umbrel is super easy to use, it can be tough for people that are new to it as there’s a lot of terms that you likely aren’t familiar with. But. That’s why we’re here! To give you the best educational content out there and help you use Bitcoin the way it was intended.

https://www.athena-alpha.com/connect-green-wallet-to-umbrel/


If you still have your spare GPUs lying around why not monetise them by selling your computing power for sats with the help of #GPUtopia

https://thebitcoinmanual.com/articles/gputopia/


LOL, how about no?


oh no man I can't deal


Lol well you can by burning your own keys but at least thats your choice or your own negligence


Exactly, its happened before and will continue to happen, at least Bitcoin takes that option away if you use it correctly


You either freeze funds of your users or you get cut off from the bond market that backs your treasury. While a lot of people find #USDT useful for accessing dollars especially in countries where their currencies are getting creamed, it's not a long term solution.

These account freezes will only continue on networks that are not decentralised and it will continue to add a premium to #Bitcoin which can offer censorship resistance

https://www.cnbc.com/2023/10/16/tether-freezes-crypto-wallets-linked-to-terrorism-in-israel-ukraine.html


Bitcoin transactions are compressed to reduce their size and make them more efficient and allow them to be transferred across low bandwidth connections

https://thebitcoinmanual.com/articles/btc-tx-compression/


LOL legit laughed for this one, rekt!


Lol what a game, it was too good not to meme


Apparently, this is called the French Press

https://m.primal.net/HNjb.jpg


Well, then its "our" secret now, since I'm in the club

https://media.tenor.com/PgAtcM06qBQAAAAC/secret-lover.gif


LOL yes, you're right, I try to keep stacks as far away from my thinking really, wish it would just fold already so we can stop hearing from that .btc crowd


Lol so what's the criteria for getting chopped asking for a friend


Lol what is this obession with repeating the ideas that didn't work out, namecoin didn't work out, ETH has this with unstoppable domains/Eth naming service, no one uses it or gives a crap about it


Shamir’s secret sharing (SSS) is a cryptographic algorithm for distributing a secret, typically among a group of people, which brings a multi-sig experience to single sig wallets

https://thebitcoinmanual.com/articles/btc-shamir-secret-sharing/


Lol @`Bitcoinbekka`memes finally making it to nostr


Supertestnet drops the first steps into BitVM with a Tapleaf Circuits,

https://supertestnet.github.io/tapleaf-circuits/


Lol yes #Bitcoin is the problem, and the toxic maxis are ruining it


Keep trusting, don't verify! Covering your own ass is close-minded

https://void.cat/d/MSoLnZDM6YZfkEzoQcqmXE.webp


Lol Ghost riding the whip


Lol no right or wrong way to note, anything goes here, 😉even toothbrush posts


this is why it think nostr wins over the long run, it removes so much complexity, i would swap managing a private key for managing all these stupid logins anyday

And all my data, followers and content I can't even take it with me, so you're really just renting the space

When people who build social followings on nostr see the reach they can achieve as it grows the incentives will become obvious, I think like many who jumped on a certain platform first like Youtube or Instagram, saw massive growth as they road up with that network and nostr will be the same, just that you will have more say and more control


Lol thats what nostr is for, to F around and Find out


I know we've all sort of moved on since the #drivechain debate, and since then concepts like Runes, #Spiderchains and #BitVM have been getting some attention, I think this break down of Drivechains will help anyone get their head around it

For me, the issues centre around trusting miners and messing with the current incentive structure and the other would be will this really see any kind of mass usage that would warrant a soft fork

More and more transactions are going to be taken off chain by various L2s so what does DC bring to the table that make it a must have?

https://petertodd.org/2023/drivechains


Just when you thought social media didn't have enough ads, there are now agencies who focus on the small/micro/nano influencer, your everyday account with a few thousand followers and getting them to shill products and services they don't believe in for a quick buck

Brands are finding that frequency needs to be increased rather than reach, they are betting on you seeing a message from a host of different people versus one big influencer and getting you to convert

Your feed is already littered with corporate shill bots, that kinda make platform native ads seem tolerable, at least you know exactly what they are and what they are trying to do

Social media continues to sacrifice usefulness and usability for a quick buck as everyone sells out each other
https://www.stuff.co.nz/business/money/133082256/netflix-mcdonalds-and-toyota-will-pay-you-to-post-on-social-media


Graftroot is a proposal that builds on #Taproot by allowing for an unlimited number of alternative scripts to be used to spend a single output.

https://thebitcoinmanual.com/articles/graftroot/


Like Alex said NewPipe is one there's also libre tube

https://libretube.dev/ and https://invidious.io/


It's been fun #YouTube but no thanks i won't be allowing ads and I won't be signing up for premium

https://m.primal.net/HNRO.png


Now no one will know that's my #Bitcoin

https://m.primal.net/HNRM.jpg


Transaction batching is the process of combining multiple #Bitcoin transactions into a single transaction allowing you to save space on chain and save on fees

https://thebitcoinmanual.com/articles/additive-batching/


Everytime i think its safe to check my feed again, its going off with armchair experts who have way too much to say.

I'm off to the winchester for a pint in the meantime

https://void.cat/d/4cvj2RRGsDfPYzxtcwDA1G.webp


#Zimbabwe seems to have accepted their Zim dollar will be going tits up sooner rather than later and instead of embracing #Bitcoin, they are totally fumbling the bag with this #ZIG digital token, a so-called gold-backed token

Now why you would trust the Zimbabwean government and central bank not to inflate the money supply is beyond me, how will you audit or enforce the peg, don't know but here we are people buying into the next rug pull

Very sad to see, but people who don't do the work, and figure out why #Bitcoin will miss out on the gains, the value will always flow to those who manage and treat it best

https://www.kitco.com/news/2023-10-10/Zimbabwe-s-ZiG-gold-backed-token-now-officially-accepted-as-a-payment-method.html


Miners are always looking for ways to one-up the competition and the ASICBoost drama is definitely one of their sneakiest moments

https://thebitcoinmanual.com/articles/asicboost/


I 100% agree with you, I think the only reason for stablecoins to exist is to make it easier to get into Bitcoin over time, the easier fiat settles with bitcoin the quicker people can dump when they are ready to accept the volatility and as you say it declines over time and everyone gets bitcoin at the price they deserve

As for stablecoins I am not using them, I don't need them thankfully, I have bitcoin and my local fiat while dying faster I can still use to pay my expenses so theres still a use for it

But many other countries don't have that luxury and stablecoins can be their stepping stone into nostr and P2P trading


Lol no harm in that, we need those who have already moved over to the Bitcoin standard, I mean i'd love for more people to move over, so I don't have to deal with silly fiat and doing conversions, but again gotta be low time preference about it

I just would like to get people into nostr and start trading P2P and once they see how they lose out by not using Bitcoin the switch becomes obvious


Suppose its everyones choice to pick the interface and medium of exchange they want, fiat obviously not without its issues and you pay for it by using it in the long run, its 100 billion dollar market right now and many people are using it because its their only way to get dollars, and get out of their local currency


Looks like your #nostr account will be managing more than just your notes with Taproot assets coming to a client near you, for those who don't want to transact with Bitcoin, this could be an appealing option, allowing stablecoins to run in nostr will allow for fiat prices and fiat settled marketplaces

What do you think is this a net postive? Will it attract more non-bitcoin users to the nostr ecosystem?

https://doc.nostrassets.com/


Lol its not a pretty sight for all involved


Lol my colleagues think I show up for work because I enjoy it, no I'm just here because this is the only way I know of right now that will let me stack sats each month

https://void.cat/d/CHqVwavWAcNWfYNNSNGDwW.webp


Sick! Looking forward to seeing how far this can be taken, :)


First the Canadian government got certain social media sites aka Meta to limit content that can be seen in the country, then they started looking into limiting the reach of podcasts, and now they want to use AI for content moderation and discoverability.

Looks like #Canada are in the founding stages of building their own great Chinese fire wall, either VPN's are going to see a surge in the country or people will need to move to a social media protocol that cannot be censored so easily

https://www.michaelgeist.ca/2023/10/canada-plans-to-regulate-search-and-social-media-use-of-artificial-intelligence-for-content-moderation-and-discoverability/


BIP-322 message signing allows users to attach a unique and verifiable signature to a message and provides a way to prove that the message was indeed sent or approved by the holder of that private key, something apparent Satoshis don't know how to do

https://thebitcoinmanual.com/articles/generic-signmessage/


I'm not sure, doubt it, because it would require so much on-chain resources, maybe a simple version might have been offered early on who knows?

BitVM looks like a super simple version of off-chain computation, where something like RGB is going much more balls to the wall on it, which one people adopt is anyones guess

I honestly just want some sort of AMM/DEX on Bitcoin that gains traction, I am tired of dealing with P2P with so little liquidity or being forced into KYC exchanges


Totally, well lets wait and see, since no soft fork needed, someones bound to try and spin up something soon


Yeah you could do that for short periods of time, you could ban bitcoin and embrace eth and it could in theory flip bitcoin in market cap, i don't particularly care about market cap myself but hey its an attractive metric to people.

I think you could short Bitcoin right now with the futures market, but the longer you do, the more risk you take and that risk management limits how much you can short it/suppress the price


Lol I legit saw .eth heads talking about how Saylor is should swap their balance sheet from Bitcoin to ETH, these guys are living in a dream world


#ETH heads are so desperate to push this narrative of the flippening and the lappening but they don't know that the reality is the floppening and the demonetisation of their entire ecosystem

1 Satoshi = 1 ETH, FEW!

https://m.primal.net/HNDQ.jpg


Turing complete smart contracts coming to Bitcoin in one way or another, wonder which implementation will be the winner of this race. Rollups, Spiderchains, Rootstock and now BitVM, all have different methods of bringing smart contracts to Bitcoin and all have their own trade offs

With BitVM it uses taproot to activates a contract and two parties can start exchanging off-chain data to trigger state changes in the circuit.

Checkout the whitepaper here:

https://bitvm.org/bitvm.pdf


Bitcoin mining has evolved from its humble beginnings of CPU mining on your laptop to a worldwide market where countries are starting to get involved in supplying hash rate to get a piece of that block reward pie

https://thebitcoinmanual.com/articles/nation-state-bitcoin-mining/


absolutely, but I don't think they're thinking that way and even for the individual, you can't make that bet on how long the currency stays relatively stable which can rek you if you try to do speculative borrowing


America’s gross national debt hit an eye-watering $33 trillion thats 60x the current #Bitcoin market cap and it's only going to grow at a faster rate each year even if interest rates do come down, the sheer size of the debt is astronomical

Spending is for sure not going to stop and taxes are never going to plug this gap and every country is doing some version of this in their own backyard, maybe not to the size of the US but still harmful to those who hold the currency

https://finance.yahoo.com/news/america-now-paying-more-interest-113000593.html?guccounter=1


Yeah I think Brave rewards dried up ages ago, and it looks like Slice is heading the same way, I haven't seen a slice ad in a while


Yeah I get that, but then why go through all the effort to build a product and still expand on the offerings, like building a search engine and continue to dev, you would have made most of your money in the first dumping, unless you've still got premine you're looking to dump but even then you're returns are reducing because you have to upkeep the product


Lol was the sarcasm a miss?


Very cool to see experiments like this, hostr, is a web hosting solution using #nostr, you can currently host static pages, so if you have a simple website or want to build your own little nostr linktree page then this could be for you

https://hostr.cc/


It still leaves me scratching my head, was this a bad business choice or was it always just a rug pull to dump on retail during that ICO phase


Lol, this sure does sound like decentralised money that is the future of transactions and commerce and I can totally see why #Brave browser went for their own token instead of #bitcoin

https://void.cat/d/RjvgcJTMB16eMPSvURwbxa.webp


Thanks will make the necessary changes :)


Please give me money, I need it, give me more transaction fees bro, we need to secure more blocks on the side bro. Drivechains are miners looking for a side hustle

https://void.cat/d/MFqfwrFbBoNq6GGHibKf4E.webp


#DEFI Bros refuse to let us have anything nice and yet again we see another proposal to try and slap some financial speculation on #Bitcoin, this time its centered around LN routing fees

https://thebitcoinmanual.com/articles/liquid-staking-lightning/


The tokenising real world asset grift is just another way to get boomer and institutions to fall for the blockchain not Bitcoin narrative, you could already do this with Liquid long ago, they have an STO and white listing service for these kinds of things, and no one uses it, so why all of sudden on EVM chains is the same damn thing going to be a game changer?

https://beincrypto.com/learn/erc3643-explained/


Mining pools that cater to industrial miners are keen on pleasing regulators and KYC mining pools are becoming a larger portion of hash rate, but what does this mean for miners both large and small?

https://thebitcoinmanual.com/articles/kyc-bitcoin-mining-pools/


Everything is manufactured and fake, trust nothing if you can't verify


Property hack no one is talking about, check out your local rental website or #Airbnb, get the boomers' contact, add them on Facebook, find out if one of their kids is single, then proceed to DM the son or daughter and marry into that property portfolio

Like & follow for more


Talking about #shitcoins sure does seem to pay, I was doing some research on a the cost of a press release and got prices from a bunch of popular news sites who are charging anything from

10 - 50 million satoshis per article

For 1 Bitcoin you can probably get 10 - 12 articles written about you, then spin up a website and paid for wikipedia page to look legit, slap the news site logos on your website and you should look legit enough to sucker people into your pre-sale

Once you get enough on-chain interest, some shitcoin casino will want to get in on the pump, along with a bunch of useful idiots on Twitter,  or you can pay some shills to share your listing and that my friends is how turn 1-1.5 BTC into a a bunch of exit liquidity

Not all of them will work, but many of them do, and thats why this cycle will repeat over and over


Routing payments on Lightning can reveal data on your node and where payments are moving, but with blinded routing we can start to make it harder for trackers monitoring the network

https://thebitcoinmanual.com/articles/what-are-lightning-network-blinded-paths/


So keep prices down through subsidies and give them a stimmy, what could go wrong? Man these MMT bros really have not thought this through and I would be so black pilled if we didn't have Bitcoin


Thank you so much for the on the ground insight and sentiment, I really appreciate it it helps me round out what I am reading online and like the data I see from my own country I know a lot of it is lies and just a way to reduce the panic and payment obligations for pension funds etc

As Bitcoiners we need to tap into that anger the way the left do and get people to focus on saving and building something that they own and control


Do you know off hand why thailand inflation numbers look so low? It looks like they have quite a bit of deflation over the last 4 months?

https://tradingeconomics.com/thailand/inflation-cpi

So why would they need to provide subsidies, what am I missing here?


You can't do it directly into Bitcoin from your pension fund, local funds are still banned from this asset class for now, so in this case you would liquidate take the tax hit and then go to an OTC desk if you have a large amount of capital, there are about 3-4 local ones offering the service

If its smaller you can do your local exchange or you can go P2P if so inclined, but the liquidity is really low, you're better off buying USD or a stablecoin and trying to bag Bitcoin that way again thats not for the faint hearted


The latest South African government rug pull will be going live next year March and I already see the sheeple lining up to get rekt on this one,

There will be a two pot system where you can now access some of your pension fund early but its 100% taxable, get ready for some stupid decisions.

People are going to withdraw it and pay the maximum amount of tax because they only think of the nominal value they can access and because you never developed a culture of saving but forced saving by law on people,.

If you give them access they will squander it which is their right but then don't come crying to the state to tax others and print money to cover your bad decisions.

If you're making contributions to a South African Pension fund, preservation fund or retirement annuity and you haven't already marked that capital as 0 you're living in a dream world. You were sold a lie, I know because I fell for it too, but the maths don't lie, its money down the drain

While you could recoup some of it now, pay the taxes and salvage some of it by putting it into #bitcoin very few are going to have the foresight to do that, they want to consume now

https://www.moneyweb.co.za/financial-advisor-views/the-two-pot-system-striking-a-balance-between-access-and-preservation/


Its a tale as old as time, Sri Lanka and Pakistan F'd around with subsidies and found out and now Afganistan is pushing capital controls and with the Afgani strengthening, they are facing shortages in other markets, sigh!

When will we learn stop fucking with the money?


app store, more like crap store ammiright? lol bu dum dum tish


Oeff, so everyone is encouraged to go drive up inflation in rural areas, hows that going to help?

The last english article with the most recent date is this one

https://beincrypto.com/thailand-blockchain-crypto-wallets-national-airdrop/

At what point do you think a 5% of GDP airdrop is going to work, lol these people are losing the plot, once that money gets redistributed and drives up consumer products, do they think people won't ask for more?

Right now in South Africa, people can claim a monthly airdrop of $15 and people line up for it at the post office every month lol


So this policy hasn't gone ahead yet?

Can you drop me a link on this digital Bhat?


Politicians will do anything to get your vote, even after they caused the inflation they will pretend to be your saviour, and try to hide economic reality with laws that have worse downstream effects

The Thai government will learn this the hard way, trying to slash prices on 150 000 items by up to 87%

While it sounds good to the consumer and makes for a great headline, something has to give, this either comes in the form of toxic shrinkflation, job cuts in that industry, the currency being sacrificed to cover production costs and imports, or massive scarcity of these products, or a cocktail of all of the above

You can print money, but you can't print goods and services
https://www.bangkokpost.com/business/2656354/


#Robosats is looking to distribute their order book among coordinators, creating a more robust service and offering income opportunities for Lightning node runners.

https://thebitcoinmanual.com/articles/robosats-federation-coordinator/


Will it be streamed too for the plebs that can't make it?


I’m on my way to Dublin! If you are there come say hello tomorrow. I’ll be at Trinity College: https://image.nostr.build/8af20c984d742ad39f78dd54560416344a0747bd5dda1599acdf4eb0071c1572.jpg


I've been through 3 bear markets and I've seen scammers come and go, and many go out in spectacular fashion, but I have to admit Justin Sun has had some impressive staying power over the last 8 years or so.

He has launched so many copycat projects, that have gone nowhere, but keeps finding ways to generate capital to launch the next copycat of what is trending at the time

But I must say this stUSDT, wstUSDT has to be one of the most agergious of his projects and that's saying a lot, because there is a long list

How people are still falling for his crap is beyond me, and what makes me really sad is how many global South peeps are using USDT on TRON because it's the cheapest rail and they could be suckered into becoming exit liquidity for Sun with his derivatives.

https://protos.com/chainargos-justin-suns-justlend-doesnt-send-staked-stusdt-where-advertised/


Fake Lightning channels refer to the creation of unbacked or non-existent payment channels in the Lightning Network which could tie up your liquidity and give you a lot of headaches as a node runner

https://thebitcoinmanual.com/articles/fake-lightning-channels/


Lol it comes for us all eventually, everything becomes water on a ducks back


Indeed lol pretty sure people will just get around it via VPNs, pretty hard to regulate an RSS feed, they might curb certain front ends but thats about as far as it can go


Will be interesting to see which platforms comply and hide those RSS feeds and which platforms will not, and if podcasts can't monetise through ads, they'll need something else like value for value


They're coming after your favourite #podcasts now, if only podcasts had better ways to monetise outside of advertising, if only there was a way to fund podcasts with uncensorable money

But where would we find such a thing?
https://thecountersignal.com/trudeau-government-moves-to-regulate-podcasts/


Lol don't remind me, I get enough panic attacks about it


Nestle outgoing CFO claims that

“People are consuming less, or they’re eating less or they’re wasting less or they’re eating more out of home,”

No duh, with interest rates so high, people need to spend more money repaying debt, and have trouble accessing more. Then slap on the increase in energy prices and you have a recipe for less consumption

You will eat nothing and you will be happy, I guess losing a few kgs is good for the economy right? Give us your pound of flesh

So are you eating less? Have you changed your consumption habits?

https://themessenger.com/business/nestle-says-people-are-eating-less-as-rising-food-prices-slow-global-sales


Don't do meth kids


Total clown show, at least they have lower fees so they have that going for them LOL


Lol It looks like Ultra Sound Money isn't all its cracked up to be, the idea of burning fees to make the token deflationary was always total nonsense, it was just a narrative and game they're playing.

#ETH removed proof of work so validators didn't need to spend money on electricity to create proofs, so they could increase their profits too

But even with so called deflationary money, the increase in price in fiat terms is clearly not enough to keep the validators happy

Now they have to issue more tokens to keep validators happy, and avoid them pulling funds out, dumping it or shutting down, lol looks like we're getting to see what tail emissions would do in real time, lets see if it works out for them.

Where is the demand for the extra tokens going to come from? Your guess is as good as mine

https://decrypt.co/199635/ethereum-supply-is-starting-to-grow-again-as-gas-prices-plummet


Government shutdown https://image.nostr.build/012642a6377c3b365688ebefa188ea307d715e3b202815b9768e6015927e237f.jpg


I prefer the wind in my pubes


Sites think they can keep getting away with curating the content experience forever, because there wasn't an alternative, but as nostr grows these own goals start to make a bigger dent and grow alternative sites network effects, only takes 2 - 3 big bans to come over with their audience for the whole thing to snowball


Lol someone needs to teach us how to use these too leetz what is this you speak of


Lol eventually you learn that, getting paid to be boring and take risk off the table is clearly alien to most of us because its such an anti-fiat idea


Who would you say would be considered a dex? I only think that an automated market maker is a dex, like Bitmatrix


Lol bear market drama is really down bad


They're just tech companies that hide behind a smart contract lol, DEX is such a bastardised term, but hey thats crapto for you, all the features of banking with none of the investor protections


Another day, another exchange oef, leaving customers holding the bag, looks like another shoddy DEX gets rekt, making this 200 million dollar fail the 10th largest crypto hack of all time and the biggest so far in 2023

Holding your own keys keeps showing how good of a return it can be, it might not generate yield, but if you look after your sats, you at least won't end up with a 0 balance

https://www.scmp.com/tech/tech-trends/article/3235797/hong-kong-cryptocurrency-firm-loses-us200-million-largest-theft-its-kind-year


I guess we'll have to wait and see, i'm still wondering how the servers will work, like you say will we all be spinning up servers and how would people be economically incentivised to participate, if theres no fees to be earned there would be no one willing to commit capital to do coinswaps

Lets say I have 10 UTXOs of 100k sats each and I just leave it to swap in the server all the time, to net fees that makes sense, I just don't know how this all is coordinated with nostr but interested to try it out

What I like about statechains is since you moving the keys, you could effectively swap/sell a LN channel to another person which also compliments nostr


So Mercury Layer a Statechain Layer 2 for Bitcoin will eventually allow users to co-ordinate coin swaps via #nostr

https://m.primal.net/HMTH.mp4


Lol I cleared my account way before it failed and shut it down, asked them to remove me from their mailing list and I still get emails


oh no not at all, It was the same for me, i didn't learn the need for self custody until I got hacked on an exchange, I'm speaking from my experience, if you don't learn you get burned and then you learn, how much you want to pay for that lesson though is a different story


But he believes in Love, Vance, its all in the name of Love now social distance and use avatars


Lol I don't even want to turn on my video for zoom meetings, now you want me to make photorealistic avatars, gfy


Lol and rough months? Because I've had quite a Slumptember


Take a dip in the pool after a hell month of work


Lol the rest of us are all shitting in holes in the ground, dont mind us


Lol imagine looking at 5sats per vbyte right now and being like nah ill leave it with this exchange, wallet or service. I guess more people need to learn the hard way and when they do on-chain will probably be like 50 sats per vbyte or more


Lol I can't say but top of mind this banger was what got me through this year

https://www.youtube.com/watch?v=IXUOPJDnzRg


Lol How many more custodians need to be proven to be bad at managing your money before people realise for the price of 1 on-chain Bitcoin transaction you can safely store your funds for a lifetime

https://protos.com/ripple-cant-save-fortress-after-all/


Lol bring back the fortnight meta avatars, this just looks like chatting behind a green screen, I don't like it


welcome to the club


Looks like a Lightning validating desinger as a device, so your LN nodes keys wouldn't be on your node but on this device, so your keys aren't sitting on a device connected to the internet, will create more friction when you need to update channels and all that but could save you in the long run against bad software on your node, shoody internet connections or in person attack


Looks like we're going to be getting stand-alone devices for our LN node private keys, no more leaving your keys on your node

Yeah or nay?

https://satslink.com/specs


Dollar milkshake theory on full display


Is it even a burger without pickles?


I'm with you there,  grew up under the apartheid government and not on the good side, and then we were sold "freedom" under this "democratic" government, and while I have more freedoms than my parents did, IE being able to travel anywhere, go to any school, apply for any job, etc

The ruling party has turned into the previous government over time, and reduced freedoms lol the irony is not lost on me

I agree the average person will likley look for a saviour but I am more talking about the average person who just wants to opt out, not many people can set up shell companies and have offshore investments and all that complicated stuff.

So far Bitcoin is the only thing I found that offers me any protection and that I can confidently say can be used by anyone if they choose to partake in this alternative market


Lol perhaps you can try more lockdowns, says ChatGPT


Lol because it drives shareholder value, Apple share buy backs are not going to fund themselves


How about less larping about P2P and stacking the order book? Stop telling people to buy P2P if you're not providing liquidity for them to use

https://void.cat/d/Wf7VQRTkm1tgVzeVmRqhF3.webp


Lol what exactly do you influence?


Lol they're just fiat on another rail, use em don't use em, the end goal is to get to bitcoin or get what you need to live, I don't judge, we all gotta eat.

Stablecoins just bring liquidity to the market, instead of vouchers, or banks or paypal, im not saying they're not without their own issues, its just the best of a bad batch to try and get in and out of bitcoin p2p

I do check P2P premiums from time to time, in South Africa it can be between 20 - 70% but the amounts are so small its pointless it gets gobbled up by fees

If there is decent volume and profits, traders will come, but there isn't, and no one can will a market into existence


I'm all for no taxes don't get me wrong, I am just trying to be realistic on what is possible for the average person, we can all talk about what can and should be done, but what is actionable?

Right now if you want to use fiat you must pay their fees, inflation, taxes and exchange fees, Bitcoin only has mining and routing fees but trading it for goods and services comes with friction, so everyone still has a choice in a way

Its definitely not ideal, in South Africa the inflation and tax squeese is really crushing us, but I still have to pay it to eat and live, no way around it, I can only salvage some of it and put it into Bitcoin

If there was other options, for the average man I'd be all for it


In Africa, we have plenty of Hawala men, people willing to do currency trading, there are also a host of informal shops that are willing to sell ou just about anything like your news agents, you can buy Bitcoin from them too, through vouchers that can be exchanged with Azteco, they are none the wiser they're just selling you vouchers which most people use to fund betting websites or buy airtime or data

Your max purchase is around $150

Getting into Bitcoin isn't all that hard, getting out/purchasing with it is harder, theres no way to really turn that bitcoin into stuff you want sure you can use vouchers like bitrefil but again friction with having another payment method

Currently my view is P2P markets will grow with stablecoin adoption, its the only thing that settles as fast as Bitcoin and issuers of stablecoins are pushing merchants to adopt it, and people are informally adopting it all over Africa.


The way I see it is tax is the running cost of using fiat, in Bitcoin you pay fees for each transaction, you can set it, and wait or you can compete in the market for the next block, its open and transparent you know what it is, but using Bitcoin has its limits, like not many merchants accept it etc

So you opt for fiat by selling your bitcoin and now you have to pay their fee structure which is taxes, inflation, banking fees, trading fees but you pay that premium to get into a more liquid market where you can easily trade

Its still your choice, take the harder road with Bitcoin and pay less or go the easy route and pay for the ease of using fiat


Yeah the average person could likley live of P2P but the market is fragmented AF, like if I want a specific currency or payment method there might not be liquidity for that, who in their right mind is going to waste time selling here and there, maybe getting vouchers, the friction and fees alone make it a complete waste of time for the average person

I have no issue with P2P I do use it, i just don't agree that its so easy to use, plus you have to deal with your fair share of scammers too, and your frequent traders you trust might not always want to trade when you need capital

Its a time, duration and size mismatch at the best of times.


100% i'm just saying its not like its so avoidable, maybe with bitcoin sure, but if you're going to use fiat, you play by their rules, thats the choice people make everyday

Are you telling me you're not paying taxes? Inflation is a tax, theirs consumption taxes on everything these days too.


Isn't stopping anyone from not paying it because of the monopoly on violence


Lol how much can you liquidate in P2P? Not much, even on the buy side its pretty thin man, doesn;t solve jack, thats why OTC desks exist


Selling your #Bitcoin today for cash on a regulated exchange isn't just about realising fiat profits, but also having to hand over some of that to the government

But should Bitcoin be taxed at all?

https://thebitcoinmanual.com/articles/5-reasons-why-bitcoin-should-not-be-taxed/


If you're going to steal #Bitcoin you need to work on your opsec, 300 coins isn't something you can easily move on-chain with no one noticing

https://www.bbc.com/news/uk-northern-ireland-66949632


Lol we also rocked the gear lock, if you driving a manual to keep the gear lever from changing, taking no risks here in South Africa. Just locking up was such a pain man, but it sure did work

I do miss having to keep my tape face with me at all times, lol


LOL don't forget to do your 5 point check before you leave the car, pulling up all the handles and checking the trunk is locked


People who grew up in the 90s knew never to trust and to always verify, they were primed to become Bitcoiners
https://void.cat/d/5tCD9srFQS8bApw639cBVP.webp


I'm just happy to watch all of this unfold its awesome to watch


Lol 100% just a reminder of how crude the tech we're using now is, I can imagine how epic wallet software will be in the next 10 years people will be playing one another across different L2s or basechain without issues or even knowing it


I don't say this very often but man I really like the direction #bitcoin wallets are heading, if stuff like this becomes part of the standard user interface, man we will be cooking with gas. Super bullish on social recovery and collaborative custody and nostr:npub1hgexz8p2f0u3t9gwy3mnjpq2u2djun0708yzxa8m2juey5uglt4qmv7qms is right up my alley

You can sign in with #nostr too, so go ahead kids, have fun playing around with this one

https://www.smartvaults.io/


Introducing https://nostr.cooking A new #nostr client that allows you to share and exchange your recipes for zaps 🧑🍳 ⚡

Developed by the talented nostr:npub1q7klm2w94hyq3qdm9ffzpahrrq0qcppmjrapzhz0rq6xgq3fdrnqr6atmj we created a new experience on nostr where we marry the age old art of cooking with #nostr and #bitcoin 💜🧑🍳🧡

Present your culinary masterpiece,  your cherished family recipe, or that experiment that turned out great and connect it to the community who values authenticity 💜 🤗

Don’t just like a recipe, zap it as a token of gratitude ⚡ 🙏 ⚡

Food transcends culture and connects people across the world. Now we have a place to share these experiences on #nostr 🫂💜⚡🥗🍕🥪🍱🍲🍛🍜🍝🍣🍤🍿🍳🥞🍩🧁🍨🍰🥯🥩🥦🥒🥖🍯🥨🍚


Lightning due to its complexity has seen custodial adoption of the payment rail outpace those using the network on their own node with their own channels.

Will LN users ever move to non-custodial options? Let's take a look and see what the trade-offs are

https://thebitcoinmanual.com/articles/ln-users-custodial-wallets/


We're giving away over 343,000 sats in 11 hours to all the best contributors on Stacker News.

Yes, you read that right.

Over 343,000 sats.

https://stacker.news/rewards


Chicks dig a guy who has wheels


#Binance looks to try and have their cake and eat it, appeasing the West by claiming to break ties with Russia and "selling" their business to a new exchange called CommEX

But it looks like this is just another shell company with CZ pulling the strings behind the scenes

https://protos.com/binance-raises-red-flags-by-selling-russian-arm-to-brand-new-commex/


Lol oh no people using Bitcoin and I wasn't involved therefore I should be mad


Lol and I am one of them until 4pm when it goes back on for today, sigh!


You would think that after all these scandals from influencers that do fitness to finance, that people would wake up and realise these middlemen and you do not align on interest, their interest is to make money off you spending or losing money

I guess people have to learn one rug pull at a time


Lol the builders don't make the news, because the scammers take up all the headlines


Lol Altcoins are hard forks in name only, has never been all that hard to do


Hackernews/Reddit/Stacker News kinda interface built on nostr, get ready for every interface to become a nostr client over a long enough time frame
nostr:note16rz4zmtdxjmamrjhrd6vz4c648vpm89xsq854y63tza79clgek0qdv6435


Another day another influencer ends up behind bars, the bear market has not been kind to #crypto, ponzis blowing up, exchanges going bankrupt, influencers fighting with each other over the scraps or getting exposed for their shady dealings.

https://cryptonews.com/news/russian-crypto-queen-reportedly-arrested-moscow.htm


While altcoins have normalised hard forking and made it seem trivial, this change in the direction of a network and how it operates is far more complex and dangerous than other chains make it seem

https://thebitcoinmanual.com/articles/dangers-hard-fork/


Looking forward to learning all about what RGB can do 😃


A popular #Minecraft server that paid users in Bitcoin has been shut down on the request of the developer of the game. It's kinda strange that someone would want to stop others from innovating on their idea and keeping users playing their game and promoting it to a new audience

But from what I can tell it looks like #Microsoft doesn't want third-party payments going around where they can't get a piece of the action.

Oh well, if they're not going to embrace #Bitcoin, we'll just have to move on without them

SATLANTIS WILL LIVE ON!

https://decrypt.co/198541/minecraft-server-end-bitcoin-earnings-after-mojang-demand-report


Ditch your X account and migrate it to nostr by giving this man 70 sats per tweet, thats if you value the tweets you made, if not start fresh and have fun, either way you're welcome to make nostr your home

nostr:note1f4dfraf3ssqywlyyc5352gsdutdgv7mrq89dd57law0s4lpsg7gscgzrn6


How #ordinals are evolving? why the mempool is stuffed to well over usual capacity but fees have not risen to try and clear the backlog of #transactions?
https://yakihonne.com/article/naddr1qq25kkn82phrjmndtq6nv664x3pk5etfxfrx2q3q0mxnle348mzv2dnj0ylgz3zu9gceenc29x9fr4m6mnars66j7vxsxpqqqp65wk39yj0
Read insight by nostr:npub10mxnle348mzv2dnj0ylgz3zu9gceenc29x9fr4m6mnars66j7vxsnkn8mj on #nostr long-form post client YakiHonne.
#ordinalsnft #bitcoin


LOL So #Reddit is going to start paying users in the US, you can now swap your Karma for fiat currency and pay bank fees on that payment, sounds like a winning strategy to me.

If only there was a social media application where you could get paid near instantly, anywhere in the world simply by creating useful content, but where oh where could we find such a service?

https://techcrunch.com/2023/09/25/reddit-will-start-paying-you-real-money-for-your-karma/


Hey, thats a good idea, I have created an account setup article, but it might be worth doing a more comprehensive guide in the future, will look into it

https://thebitcoinmanual.com/articles/setup-nostr-account/


Have you seen a project accepting #bitcoin donations and you're thinking about supporting them? Before you sign that on-chain transaction or send those sats over Lightning you might want to consider your options and motivations first

https://thebitcoinmanual.com/articles/considerations-before-donating-bitcoin/


I agree with those concerns, I do think the idea is to capture Bitcoin the way gold has been captured, so it can't function as the measurement of debasement, but to me its a dangerous game

Bitcoin can move faster than gold, and can be easily audited, so how long can an ETF remain unbacked before it blows up?

Thats some major risk an ETF issuer would be running, I think many of these smaller ETF applicants are just looking for a free ride sucking up 2%  in fees to buy Bitcoin for boomers


Lol I didn't even notice that, but I wouldn't be brave enough to try it


Welcome to McBitcoin can I take your order?

https://void.cat/d/B8dNpLLUy84aoGqJ4jriTV.webp


Premium is high but a big fan, especially if you're finding yourself dealing with cash, I recently got paid a certain amount in cash and I was like do do I deposit it in the bank? Nah just bought vouchers with it got LN sats and then swapped back on-chain


For sure, I'm not expecting coinbase to double their position, just saying its going to get bigger than what they have, 10, 20, 30% easy


For me buying, but just from the standpoint that I don't want to have a recurring expensive I have to deal with and be tied to those payments, sure its better to pay back over time with cheaper currency, esepcially if you're in a high inflation rate country but i'm still the type to want to live within my means and as frugal as possible


LOL 100% we had to be humble for a very long time after Wenger left, so after last season we got our swag back, we back in the Champions League,

I will say what Ange has done with Spurs in such a short period of time is pretty impressive

I am just annoyed because a win here would have made the 6 pointer against city a much bigger deal


Miners be selling and normies aint' holding their own keys


My bookmarked articles on Yakihonne


I woke up late to the sound of rain, thankfully its a public holiday today


I doubt any of them will, each month they just keep diluting more due to their issuance rates and crypto is a game of narratives, something new will come along in the next cycle and dilute unit bias retail traders even further, this is all hopium

Also the whole get a shitcoin to 1 dollar is a meme, even if it does get there, which it wont, it woud never have the demand or liquidity to sustain it, who do you think is buying doge at 1 dollar?

No one


The #mempool is stuffed with #Oridnals transactions, but why aren't fees pamping? Lets have a look shall we?

https://www.yakihonne.com/article/naddr1qq25kkn82phrjmndtq6nv664x3pk5etfxfrx2q3q0mxnle348mzv2dnj0ylgz3zu9gceenc29x9fr4m6mnars66j7vxsxpqqqp65wk39yj0


Member when [ordinals](https://thebitcoinmanual.com/articles/pros-cons-ordinals/) were meant to be this new block space hog that would drive up fees, subsidise miners, and encourage more use of layer two networks?

Oh, I member!

Ordinals unleashed quite the craze this year, with Bitcoin having its cryptokitties moment, and the network was packed to capacity as speculators fomo'ed in to mint NFTs, create BRC-20 tokens and try to flip it for a profit in this new secondary market.

We also saw people "destroying" their NFTs on other blockchains to remint it on Bitcoin, while popular NFT issuers like [Yuga Labs started to issue collections using the protocol](https://nftnow.com/news/breaking-yuga-labs-is-dropping-a-bitcoin-ordinals-nft-collection/). We also saw companies look to Ordinals as a way to differentiate themselves with the [OnChainMonkey](https://bitcoinmagazine.com/culture/onchainmonkey-1-million-migrate-nfts-to-bitcoin) team burning $1 million in fees to move their collection over to Bitcoin

## Ordinals take effect on-chain

It's safe to say things got a little crazy, with users willing to pay anything between 50 and 300 sats per v/byte for a transaction, crowding out your average Bitcoin transaction or Lightning network channel creation.

Ordinals not only created a new secondary market, but because it also uses up space on the blockchain, the average data footprint has also increased. The average transaction on the Bitcoin network was nearly 550 to 600 bytes in size until early 2023. Since the introduction of Bitcoin Inscriptions, it has spiked over 1.4kb.

While many a maxi cringes at this use of block space, degens seem to be happy and of course miners are pretty chuffed netting a healthy return. [According to dune](https://dune.com/dgtl_assets/bitcoin-ordinals-analysis) ordinals have generated ₿2,111.3694

Since ordinals had their own on-chain market, users were trading inscribed satoshis for crazy sums of money, since the metadata is what they are trading, the satoshis representing them didn't matter and they could justify moving 100 sats or 2 sats for hundreds of dollars.

It might look strange on-chain but when you look at it through ordinal bro eyes, can see the method to the madness.

As Ordinals ramped up fees miners could earn, we heard that this new use case would be part of the new security budget and we might need to get used to a sustained higher fee market, something that will come eventually as more people want to transact on-chain.

![Bitcoin fees the last year](https://void.cat/d/UKmx3p3uUA5ARacgK8etc6.webp)

*Bitcoin fees over the last year: Source: [Y-Charts](https://ycharts.com/indicators/bitcoin_average_transaction_fee)*

## Ordinals are down but not out

Has it turned out that way? Yes and no, yes the use case for ordinals continues, they remain a part of every block of late, but they're not generating the type of fees we once saw, with a sharp decline since the May 2023 frenzy.

According to analysts from Glassnode Inscription based transactions are dominating with over 50% confirmation. Inscriptions acquire 10% of the block size while paying around 20% in transaction fees for it.

So what gives?

If they're still trading, why are fees not going to the moon?

Well it seems that the market has reached a point where users are starting to act rationally, perhaps the money flowing in has dried up or new users are not coming in, making it harder to flip your inscriptions on to another user.

Text-based Inscriptions currently account for 50% to 60% of transactions confirmed and have been done since mid-April so it seems that these are either transfers, sales, or status updates on marketplaces

Whatever the case may be, Inscriptions now don't bid up block space, but rather fill the void left by empty block space. Original users seem to be acting more rationally, not trying to compete with the rest of the network but happy to fill the gaps and wait for their transactions to go through

## Mempool is a crowded room

Inscriptions are no longer competing with your standard transactions for block space and ever since the calm down on ordinal theory, we've seen these users become much more pragmatic in the way they bid for block space and as a result, the mempool has blown its back out currently sitting at around 360 000 unconfirmed transactions, but it was as high as 560 000[3].

Users are now willing to wait probably because they either don't plan to sell at current prices or they're willing to wait for a bid or an attractive mint to FOMO into.

![Mempool Stuffing](https://void.cat/d/RQcztShza7eZYAHhmK4aXe.webp)
*Mempool size - Source: mempool.space*

## Higher lows in fees

Despite fees driving down, this use case is not going away, and if we do see higher lows in fees, a massive transactions back log in a long and grueling bear market, what would happen during a bull market?

If you are looking to secure transactions, now is a good time, if you're looking to set up a Lightning node with channels now is a good time, because this can quickly reverse.

Second layer solutions will need to work out the kinks so that normies can start onboarding to Lightning or Liquid within their wallet of choice, so they don't get hammered with fees.

I think in the next bull market a lot of users would be better suited onboarding directly to second layers first before getting hit in the face with $100 fees

This could be a real pain in the next run-up, bar the launch and rollout of covenants which would make it far easier to deal with a high fee on-chain environment.

**Sources:**

- 1-  [decrypt.co](https://decrypt.co/198540/bitcoin-mempool-transactions-congestion-ordinals-inscriptions)
- 2- [cryptotimes.io](https://www.cryptotimes.io/bitcoin-mempool-remain-congested-as-blockspace-demand-surges/)
- 3- [ambcrypto.com](https://ambcrypto.com/btc-unconfirmed-transactions-surge-as-ordinals-thrive-decoding/)

Inscriptions Not The Security Budget Saviour It Claimed To Be

A look at how ordinals are evolving and why the mempool is stuffed to well over usual capacity but fees have not risen to try and clear the backlog of transactions


Shocking, and if an ETF ever goes through it can get a lot bigger


Arsenal handed them the point, despite being lucky to get that deflection and the penality, they still thought that they could coast, and it cost them, Delcan and Viera were a big loss early on, I think Haverts has just not been good enough in an Arsenal shirt, to ever play in a game of that size, and Smith Rowe as the better pick as a replacement

Also Jorginho looked so off the pace it was shocking, you'd think a guy who never realy relied on pace and was such a good deep lying play maker wouldn't dilly on the ball like that, especially when you have a keeper with Raya's passing ability behind you

Clear the damn ball or send it back, man it was such a painful game to watch


I'm still seeing a bunch of articles of late saying bitcoin is primed to break down even further under these conditions, not that I think BTC is a concern for the fed but I guess its still seen as a risk asset and needs to be taken down a peg like the stock market as part of this tightening cycle


Bitcoin mining bans are nothing new and with the question of how energy should be used coming under the radar, miners are going to take on a lot of heat from regulators

https://thebitcoinmanual.com/articles/nys-bitcoin-mining-ban-based-on-a-false-premise/


Lol pay to spam is the way


I sure hope it does, I have certain personal targets I would like to meet but they are moving far out of my reach lol, just give me a chance Bitcoin, I promise to look after it


Lol I don't get the Raspi hate, its a perfectly good node, it does the job, sure you can go get something more robust if you doing your own LN stuff or you more active with things like Joinmarket, but I still run mine proudly


Lol peeps just be parking their real estate until the bull market


The sanctions are working okay?

Lol I saw some photos the other day of Russian supermarkets that had Polish and Latvian coke on the same shelf, the market always finds a way


I like to check out publications like #Forbes from time to time to see the general take on #Bitcoin since I am pretty lost in the weeds these days and want to know what they feed the average person

The narrative seems that #BTC has been crushed by several frauds like Luna and FTX and now with higher for longer interest rates, people don't need to be risk on so they're not putting their money into Bitcoin (as a risk asset)

While companies in the space are finding it harder to operate, raise capital, and expand their user base

Sure sounds like music to my ears, I remember staking at those nosebleed prices of 58-70k thinking what a mountain it is to climb

I am enjoying the below 30k, Long may it last.

https://www.forbes.com/sites/digital-assets/2023/09/23/bitcoins-fed-nightmare-is-suddenly-coming-true/


Announcing ZapThreads, a threaded comments component built on nostr.

 - Works on a variety of root events: note, nevent, naddr, URLs
 - Markdown support and nostr reference handling
 - Lightweight on clients and relays (~40kb minified/gzipped)
 - Extremely versatile and customizable
 - Available via NPM or script tag

It's the comments component in nostr:npub1048qg5p6kfnpth2l98kq3dffg097tutm4npsz2exygx25ge2k9xqf5x3nf so you probably already used it!

I wrote about it and how it can help purple-pill the web 👇

https://habla.news/franzap/threading-the-web-with-nostr


I can see that happening, CB is a public company, its got a good track record its willing to play ball with regulators and big companies in the space already custody with it.

My thing is it just becomes a massive single point of failure, a hack, or a fortress style F up with keys can leave a bunch of people shit out of luck


Lol When rug chains?


Lol welcome to freedom tech


Nix Bitcoin


When silk road 2 on nostr, we can call it Rosstr


Zapping is pretty easy with Nostr Wallet Connect. You zap a bunch of notes in your nostr client and then approve those zaps inside your wallet. But what if it was just a little bit easier?

Today, we're shipping "auto approve" so you can set up Wallet Connections that auto-pay requests within a limit!

https://image.nostr.build/9863c067b8852c118b50ef76990227ba3f5a9fdd26f004acd4d994d4bf0c89b6.gif

To set up a budget, check the "auto approve" checkbox, then pick the amount and the interval. You can also edit existing wallet connections. There is no need to reconnect Mutiny to your nostr client if you've already set it up.

Auto approve is a simple concept, but we wanted to ensure we could pair it with budgeting before unleashing it on the world. Expect a lot more to come in the future around wallet connections and auto payments!

https://blog.mutinywallet.com/auto-approve-zaps-with-the-power-of-budgeting/


Lol best way is to F around and Find out


Really sad to see stories like this, #bitcoin is meant to inspire good, not that bad people don't use it and won't continue to use it, but from what I can assume from this article, it might not have been Bitcoin

Sure this guy could have lost money in a bear market, like we all have on paper, but it seems more likely that the "bitcoin investments" is some ponzi scheme that went tits up

While I'm speculating at this point, the fact that 700k bhat is goine, makes me lean towards it.

Sad to see it resulted in not only financial losses but the loss of life

Any of our #thai plebs know more about this story?

https://thethaiger.com/hot-news/crime/bitcoin-investment-loss-sparks-domestic-violence-and-six-hour-police-standoff-in-ayutthaya#


Lol I guess they really thought out the user experience didn't they? I can't believe the program failed so hard

I hope someone can fork the browser and just make an LN version of it, i'm pretty sure they could get quite a following going


Hopefully the next door that opens will be one that you never have to look back on the ones that closed, this is a trying time economically and many of us are feeling it, not that its any consolation for you

Hope you'll find something soon and get cracking at what you do best


I quite enjoyed their ad blocker what annoyed me was their stupid KYC on-ramps, I was trying to stack sats with their shitcoins they handed out, but that was such a fail


Lol we all got rugged on that one, I was a big brave browser bro, Im going to try that impervious one and see how it goes


Man they're such a disappointment, could have been great if they just accepted LN it would have fixed their crappy brave rewards rug pull program and might not have been pressured to sell data and manipulate brave search results, their LN node would have been pumping of that I am sure

I guess I'll have to give impervious a go until someone builds a nostr browser


I was rooting for you Brave browser, but you dropped the ball way too many times!
https://stackdiary.com/brave-selling-copyrighted-data-for-ai-training/


So what do you think the end goal is you get a bunch of normies to KYC and then how do you monetise it? Maybe I'm a few too many steps behind here but I don't see the wider play here


I feel you the network effect is still super strong, X is still great for hyper localised content and checking out sentiment for certain niches, I hope more people do start to come here, curate and cross post of some kind so I don't need to bounce to X for info

For Bitcoin I have Stacker News, but for everything else, i've tried making my own RSS feed but its too much work lol


My guess is he might do something like that rate limiting nonsense he tried to try and push people to opt for blue checks or get people to buy some amount of credits they can burn, either way I don't see people going for it, its already becoming a ghost town if you got rid of the bots, now if the people who don't want to pay go too, then its just businesses and influencers left lol


I think so, my nostr time has improved since it moved to X, I now hang out here and on SN, thats where I get most of my info


Lol I will take away all the bots if you pay me, not because I think it will improve the product, its his promoting nostr by killing twitter with 1000 cuts

No, where do I see this? Am I blind?


I guess the blue check brigade and gold check businesses weren't generating enough revenue for Elon so he wants to pay wall everyone and add even more microtransactions.

For most X/Twitter users they get no reach, they are just there to shout into the void and maybe get a ratio'd comment on an influencer/big account once in a while.

So what would the incentive be for them to pay to do that? To pay to see content that is posted on other social media apps for free?

If this goes through get ready for a new wave of #nostr adoption.
https://www.bbc.com/news/technology-66850821


An angry man is one that can be easily manipulated and controlled, while anger is a natural reaction to seeing injustice, finding the right ways to channel that anger into something constructive is the only way to fight back.


Love it, focus your energies to create high signal, the enemy is fiat, and its going to need all of us to take it down


Adoption comes in waves, ZBD is trying something and like custodial LN, people find it comfortable, and others might migrate to something more robust as they enjoy the service but don't want to give up so much control to use it


Lol sodl fiat, hodl Bitcoin


Your #Nostr account doesn't have to only be used on supporting clients, but could become a better universal login when browsing the web

https://thebitcoinmanual.com/articles/nostr-auth/


Have you heard about spiderchains? It's the most recent proposal for how to create a permissionless 2 way pegged sidechain.

https://blog.lopp.net/an-introduction-to-spiderchain/


Lol don't forget the outside consultant hired to try and make sense of the mess and gets paid to equally make no progress


Lol but what you going to put on your marketing material if you don't have SE?


30% APR got them in 999 tax on withdrawls gets you out, we are doomed to repeat this mistake a few more times aren't we?


Oef, I didn't know that, you telling me they paid out 10% more than the Luna/UST ponzi and people still thought it was a good idea? When do people realise high interest rates are not good, they are a warning of the potential risk and even then that risk can still be mispriced.

If you're not asking where the yield is coming from, you are the yield,


Bear market DCA'ers flexing their stack

https://void.cat/d/UTPWhbC2VxZxfJR1uNETG.webp


Yet another short story of not your keys not your coins playing out #JPEX limiting withdrawals and hiking withdrawal fees to encourage people to hold their bags and get rekt along with the company

Imagine being stuck with funds on an exchange charging you $1000 to withdraw, they are literally trying to tax a bank run to keep themselves afloat.

No matter how good an exchange looks, how great their marketing is, how many awards they've won, make sure you remove you #bitcoin from it and put it into cold storage, trust no one!

https://cointelegraph.com/news/jpex-increases-withdrawal-fee-to-almost-1k-after-warning-from-hong-kong-s-watchdog


Does the fact that I run a node make me part of skynet?


Our flippers come from the finest schools and are trained not to turn burgers into tasting like Michelin tyres


Add some chocolate chips


Lol but its artisanal bro


Gotta keep that money moat going for as long as possible before regulators shut them down


Exchanges have moved from launching their own token on altcoin chains, and now they are starting to launch their own chains, but what is this all about?

https://thebitcoinmanual.com/articles/exchanges-launching-chains/


Lol...not yet, but maybe some day we'll have loads of wumbo channels


Lol But I can with lightning


Give us more time, I need to stack as much as i can before my modest salary has to compete with these giants for the remaining Bitcoin


Lol reminds me of those Goosebumps books


Lol i think we've all had our own Bitception moment


Lol imagine hating on something for 13 years and it just keeps adding users, hash rate, settling transactions with unmatched up time and moving billions per day in volume, I feel like its just anger because they too lazy to understand it and not humble enough to accept that the game has been forever changed


Covenants are sure getting quite the push lately with their ability to improve moving capital in and out of the Lightning Network, making it easier for the average pleb to use LN, it could be used to build scaling solutions like #Surfchains and #Ark, as well as form part of the building blocks for Enigma

So why are we buggering around with Drivechains when a CTV-style #softfork can bring with it all these possible scaling options?

https://blog.bitfinex.com/education/what-is-the-enigma-network/


Lol inflight NIPs are now a thing?


Im a simple man I see a lightning bolt I opt for it, so B maxi here


Lol kill the competition, I wonder when celebs are going to be shilling us US treasuries, they're risk free and regulated investments, get your 4% now


Well they did it out of greed and to make a quick buck, so I don't feel sorry for them, you shouldn't be endorsing shit you know nothing about


I wonder why the SEC is wasting time making celebs who shilled crapto projects pay $45,724 for their sins, especially when there are so many bigger fish to fry in this space.

Maybe they're building up to it and trying to lull these scammers into thinking they are untouchable, we'll see, since Justin Sun is the next target. But his suit is way more complicated with charges of market manipulation to not disclosing paid advertising.

https://protos.com/soulja-boy-and-austin-mahone-lose-to-sec-justin-sun-still-to-respond/

Well, hopefully celebs don't try to get into crapto shilling and learn their lesson about dealing with financial products and giving paid-for financial advice.

I wonder how much shilling will go on in the next bull run, if the SEC now have cases they can fall back on and point to, could make it much easier to fine people in the future


We must all learn to be humble, it comes for us sooner or later lol glad you came out on the other side, stronger. Keep fighting the good fight


I agree with what you're saying here, I was more thinking of a drivechain world, if a big company can come after miners or a state actor can pressure miners who hold that escrow to give up ownership of those funds, then to me DCs are threat to the network, if pools can make decisions like this.

If I am a miner in that pool, what if I don't agree with the rest of the pool? What if I want my cut?


Same here, I rekt myself too so I know exactly how painful it is, you won't die from it either, but it seers a scar in your brain that you NEVER take Bitcoin for granted.

This won't be the first fail or the last, if people want do-overs they can use fiat or they can use some altcoin, there are so many other networks that allow for that, just don't use Bitcoin if you don't like how it works


But you didn't leave it on the floor you willingly constructed a transaction, and submitted to the mempool, at anytime before the miner picked it up could you have replaced it, you willingly checked, signed and let it get confirmed


A deflationary spiral is a situation in which falling prices lead to a decrease in economic activity, falling wages, slowing turnover of currency, hoarding of cash and starts to feed on itself & is a big boogyman #bitcoin hater use as a talking point

https://thebitcoinmanual.com/articles/deflationary-spiral/


You don't own the coins after you signed them over, once its confirmed in a blockchain, thats what you sign up for when you use bitcoin its tough to learn the hard way, if you had control this wouldn't be an issue.

If you're giving certain people special privileges, then how decentralised is this network anyway?


Yeah I saw the poll on Twitter asking if they should stick to their world, they kinda screwed themselves there, still if you're burning energy and paid for ASICs to mine and you bag a windfall, why should you give it back?

You offered your services as intended, if someone overpays for your service thats their issue, look at ordinal bros they overpay to move 5 sats all the time, no one bats an eye


Me too, I know someone who rekt themselves on a multi-sig they tried themselves and it was tough titties, I know someone who broadcasted to the wrong address it was tough titties, for me you gotta learn the hard way, if we're starting bailouts where does it end?

Also if im a miner in that pool and I stand to make bank, i'd be pissed


So if we had drivechains and miners are kinda the escrow isn't this a sign that someone like a state actor could push a pool to rug drivechain users?


Yeah I mean if all the miners in the pool are okay with missing out on their share of 20 BTC by all means, but the transaction went through as part of the consensus, yes you made an oopsie, but Bitcoin don't care, you clicked broadcast

A part of me kinda wants to see what miners do if the pool makes the decision to hand over a pay day like that, do they all bolt to another pool and it kills F2 or do miners just act as slaves to whatever the pool decides, doesn't sound very decentralised to me, surely there are consequences to every decision


Lol whats a guy gotta do to earn a slice?


A food delivery service, why should you give your money to SC startups, cut out that middlemen and pay your local driver a living wage, and create circular economies, the infrastructure is already there, they're already doing the work, the demand is already there


We all have to learn about Bitcoin the hard way and recently Paxos F'd around and found out when they overpaid $500,000 in fees on Sept. 10

They are a well-known stablecoin issuer and should know better but they made a mistake, but now they're asking miners to save them and begging F2Pools to give the money back.

We've all overpaid for transactions before, obviously not to this extent, many have also F'd up transactions and no one came to save the plebs that did, so why do companies get special treatment?

If the pool does hand back the funds to me it just shows mining pools have way too much say in the network and if I was a miner I'd be pointing my hash somewhere else if im losing a possible share in a 20 BTC windfall

Will be interesting to see what the outcome will be, but I thought we don't get do-overs in #Bitcoin, doesn't this set a dangerous precedent?

https://cointelegraph.com/news/paxos-confirms-responsible-for-500k-mistaken-bitcoin-transaction


Thanks so much I'll give it a listen


It's been so long that I forgot about this hustle, this was probably one of the first big exit scams in crapto history. The fraud reached a reported $4 billion and affected at least 3.5 million victims.

And the spokes person Ruja Cryptoqueen is nowhere to be seen, and I'm sure she will try to keep it that way as long as possible considering her co-founder got 20 years and had to give up 300 million in assets

A lot of early crypto scammers think they in the clear due to time passing, but it eventually comes back to you in some way, shape or form.

https://www.justice.gov/usao-sdny/pr/co-founder-multibillion-dollar-cryptocurrency-scheme-onecoin-sentenced-20-years-prison


MEV opportunities exist due to the way blockchains work; when a user submits a transaction, there is inherent latency and competition for block space which creates a hidden tax

https://thebitcoinmanual.com/articles/maximal-extractable-value/


Blurred selfie as proof or it didn't happen


Let the marketplace for information and ideas compete and let people get multiple sources and opinions, having 1 source, just becomes a single point of failure and easiy to corrupt, not that multple sources can't be, its just not as easy.

Everyone has an agenda, his also got his incentives to drive users to his channel and website for view and to earn an income, its not like his doing it for the fun of it, and him being censored means it hits his pocket.

I know most people just take things on the internet verbatim, and get rekt for it, I see it in Bitcoin all the time.

For sure, as long as his honest about himself and not misrepresenting himself as an expert, thats fine, I enjoy his content and I take what I find valuable and applicable to me and its worked for me, just anecdotally.


I quite enjoy the bear market, my humble salary needs to go as far as possible before it gets obliterated by the major correction when people do wake up, im not ready for the a bull run, not by a long shot


I don't follow his work blindly I mean anyone who does that about any topic is going to walk off a cliff, he offers some great advice that has worked for me, ofcourse if you have a chronic issue you're not going to solve it from listening to YouTube, people need to also learn to use their gray matter, blaming him for putting out content to me isn't the right approach.

I mean people could easily take my content as financial advice and go rek themselves trying to self custody because they're not ready for the commitment, even though it is the right thing to do in my opinion, doesn't mean everyone can handle it


Lol whats the TLDR on Fold?


Lol someone call Satoshi for a refund

https://media.tenor.com/A4XbFgDBehQAAAAC/the-goon-dodgeball.gif


Me too, dude changed my whole out look on eating, man is a wealth of knowledge, get this man on #nostr ASAP and protect him at all costs


Lol I judge it by the amount of hearts I get on my posts, I get 1 so I assume one person is actively following me here, which is more than Twitter so I take that as a win


Seriously? Where is this volatility you guys speak of? #Bitcoin's been the same price for 3 years

https://void.cat/d/4EYghERosGRSCDrgK94XVC.webp


This is one long ass read but if you're like me and you didn't know much about how the sausage is made when it comes to credit cards then this one is an eye opener, consumer debt has become a frankenstien with so much waste and misallocation of capital

I can't understand how we can justify systems like this and then point to open equity based systems like Bitcoin and claim it can't work.

lol the mental gymnastics and naivety of how fiat works is nuts

https://www.bitsaboutmoney.com/archive/the-waste-stream-of-consumer-finance/


Lol was I wrong or old?


If thats kate moss, damn then im getting old


You can now start to stream on #Nostr clients or add nostr to your list of platforms you host your streams on and of course accept zaps live on air

https://thebitcoinmanual.com/articles/nostr-live-events/


ZBDuh

![ZBDuh](https://media.tenor.com/B1-J48uTXh4AAAAC/mean-girls-amanda-seyfried.gif)


Rumours are circulating that FTX is expected to gain court approval to liquidate an estimated $3.4 billion in cryptocurrencies with a plan to offload up to $100 million in digital assets weekly.

As you can imagine, the bots triggered sell orders and we saw a little bit of a price dip as normies also get shaken out and a few longs get liquidated

People who leave their money on FTX aren't exactly people who I would think of as likley to hodl and would just want some fiat back for their troubles, if this goes through I can see some sweet sweet sell pressure coming down the pipe line and i'm ready to be the exit liquidity and pick up some cheap sats

https://beincrypto.com/ftx-crypto-assets-to-be-liquidated/


Token scammers are trying to get around the howey test with language changes and renaming obvious vesting periods to try and fool regulators, but it's not going to work

https://thebitcoinmanual.com/articles/token-sacrifices/


Damn what the hell is going on with custodians right now, first Prime Bust, goes tits up and is acquired by Fortress Trust

Then Fortress Bust announced they had been acquired by Ripple with reports that Ripple had covered undisclosed losses to customers as a part of the acquisition deal.

I am amazed at how many people take this stuff on the chin and don't see that leaving funds with a custodian is taking the ultimate risk with your #Bitcoin

Yet another reason to stay safe and self custody plebs

https://www.theblock.co/post/250082/ripple-made-fortress-customers-hit-by-security-incident-whole-as-part-of-acquisition


Keep growing the ecosystem!!


You take away my sats, you are dead to me, I would sooner lay you into this barren earth then entertain your folly for a moment longer. You will not have Bitcoin, you will not have bits, you will have sats!

Thats final


This is the most fire 🔥 track in South Africa right now, so #nostr, wherever you are in the world, drop the hottest track from your part of the world

https://www.youtube.com/watch?v=ZXDBhD40Sv0


And what would the chapters be about? I think the blocksize wars would be one, and the mt gox, ftx fails could be another, and to wrap up the trilogy so far maybe Silk Road and Wikileaks stuff


I'd love to see a nostr market for submarine swaps too :P


I wonder when the #bitcoin version of this movie will be made, seems like there are so many juicy stories Hollywood could use to craft a pretty crazy story
https://www.youtube.com/watch?v=bmr8YmwnZ3w


I'll need to move to where you are then, especially if you guys have 24 hour electricity lol thats all a South African wants these days


Atomic Swaps allow users to switch Bitcoin for Bitcoin in other protocol layers like the Liquid Network, Lightning Network, or Statechains.

https://thebitcoinmanual.com/articles/atomic-swap/


Lol that or the price of Bitcoin should be a 1 million each, then 10 sats is a dollar and we're zapping major values


Found this interesting article on what it takes to feel rich in the US and the range is between 2.1 million to 4.7 million USD or 77 - 175 BTC at current prices

I don't know how living standards in the US reflect this and if this is attainable, seems like a lot of cheddar to attain in one lifetime if you're working for wages that are flatlining for years

https://void.cat/d/2AWG4ZNvkonTmdSS83LuxK.webp

To me, it shows how criminally underpriced Bitcoin is if these millionaires ever look at preserving their purchasing power in something that isn't leaking value YOY vs. BTC

https://www.visualcapitalist.com/how-much-does-it-take-to-be-wealthy-in-america/

So peeps, in your part of the world, what would the figure be for you to feel rich/financially stable?


Soooo a good 300-400 days to DCA some cheap sats


Lol its crazy how they can keep moving the goal posts in the fiat system and why building something on trust will always be manipulated. It really is just about keeping up the illusions of liquidity as long as people can redeem wihtout issue they couldn't care if its backed, unbacked or if they're could be holding the bag right before the collapse

Its one of my fears of Bitcoin, I am 100% sure there is so much fake bitcoin floating around with exchanges just reselling the same coin knowing normies aren't going to call the bluff.


Damn was really hoping someone could explain this to me, its setting off my spidey senses


Something fishy is going on after nearly doubling interest rates in the last year to 7% the Czech National Bank's decision to stop remunerating required minimum reserves and commercial banks are freaking out.

How do you bulk under interest rates you set for yourself? How bad does this get downstream as banks reduce their lending books to reduce risk because they're not getting their "risk-free rate" from the central bank?

Do any Czech plebs know what's going on here? Seems like something is breaking

https://www.reuters.com/business/finance/komercni-banka-expects-hit-end-remuneration-minimum-reserves-2023-09-08/


Lol he got sentenced on x100 leverage


I need this shirt, like yesterday!


Faruk Özer, CEO of Collapsed Turkish Crypto Exchange #Thodex, which exit scammed back in April 2021 with $2 billion in customer funds has been sentenced to 11,196 Years Jail, damn thats a long ass time.

I wonder how many years the #FTX, #Celsius and the other failed CEX's will get, I don't see why failed #DOAs and failed #DEFI services masquering as applications but were really tech businesses shouldn't also get this treatment for rug pulling people

While many customers will be lucky to get a few cents on the dollar, and it's probably caused a lot of pain and suffering, I also don't think relying on the government to clean up the streets of crapto is the way to go

Just stop feeding these scammers with your money, prevention is better than cure

https://www.coindesk.com/policy/2023/09/08/11196-years-in-prison-for-faruk-ozer-ceo-of-collapsed-turkish-crypto-exchange-thodex/


I think they still have a solid network effect and brands/marketers/agencies have to find ways to source traffic and X can still offer that for a free so money will always flow into the platform, but I don't know if this revenue share thing will work out, YouTube has been able to keep theirs going but Google has a bunch of other ad products to support YouTube, X doesn't


Lol so let me get this straight, X users have to pay $8 a month + credit card fees and remain active enough to generate 160 000 impressions at 5 cent CPM to cover the cost and then hope they hit a benchmark where they can get paid and after X gives you your share, you pay fees to transfer that money to your fiat bank account

While on #nostr I get to keep 100% of my revenue, pay stupid low fees on LN and have control to move it on-chain or speculate on on-chain fees and wait for my confirmation

And ontop of that what I earn on nostr gives me CAGR just by holding it, hmmm

Decisions, decisions
https://protos.com/x-keeps-99-of-ad-revenue-from-most-creator-payouts/


One of the best ways to get on LN directly from cash even if the premiums are quite high you're paying for the ease and the privacy


Stowaway transaction looks just like any other Bitcoin transaction on chain, but behind the scenes, it is a form of 2-person #CoinJoin.

https://thebitcoinmanual.com/articles/what-is-a-stowaway-transaction/


Satoshi said,

"Go 'head, switch the style up. And if they hate then let 'em hate and watch the Bitcoin pile up"


Lol I approve this NIP


Something big I'm working on for #Bitcoin also needs a full time #Lightning protocol developer.

Please reach out privately if you're interested. 😄

https://luke.dashjr.org/jobs/202309-Lightning-job-description.html


The Liquid Federation can consist of a number of companies; to date, there are around 63 members who are dubbed federation members.

https://thebitcoinmanual.com/articles/what-is-the-liquid-federation/