Just as there only one cryptocurrency #bitcoin
There will be only one social network #nostr
For the exact same reason - money is social and thus everyone benefits from a consensus on the most neutral
This will eventually destroy fiat currencies too, just as nostr will eat the silos and fedis
And nostr will eat the web eventually too
Once folks start having less inward looking conversations I’m sure it’ll be fine… Gonna take a while before I’m here more than the Fediverse though.
I don’t know how others will react to bots saying racist shit soon as they sign up though…
nostr:npub1m4ny6hjqzepn4rxknuq94c2gpqzr29ufkkw7ttcxyak7v43n6vvsajc2jl has been posting about how clients should default to whitelisting and encourage a referral mechanism that lets you see another person's feed to start instead of the chaos of global
nostr is global and relays are dumb... the edge of the network is where the intelligence must be...
the paraiah status of peer to peer networks will slowly be destroyed as more and more social networks hook into nostr and this will drive a long overdue change in the way people think about the internet, maybe we'll even get ubiquitous IPv6 based p2p connectivity and everything will have an IP address finally
I arrived simultaneously to a whole horde of e-girls and I was onboarded straight to global on nos.lol 🙈
Bitcoin is not even a currency. It's now a orange check ID system.
Ignoring Monero is fiat mentality back in the early days of Bitcoin.
lol, keep lubricating your fluffy bunny
That's exactly the kind of advice I'd expect from a Bitcoin maxi.
i have a lot of reasons why i am here at this point but if you don't get it that pseudonymity is all there is
then you need to go study game theory and cryptography again
Tell me about all those reasons. I have quite a few reasons in favour of Bitcoin myself. But using it as money is not one of it.
fixed supply rate
auditability
unbounded participation rates in the securing of the ledger
monero fails on two points because of its obfuscation, and the anti-asic thing isn't really helpful, and really just amounts to fluffy trying to stay relevant
Sure but, fixed supply comes at a future risk regarding security budget. It's not a problem for the next decade.
When was the last time you manually audited BTC UTXOs? This is something my BTC and XMR nodes do for me. In both cases I need to trust the math. Just that the math is slightly more complex for XMR over BTC. But you are right an exploit on Monero would likely be more difficult to fix in retrospect.
So yes, it's a trade off. The thing is with only 1% allocated to Monero you have a perfect hedge for Bitcoin and ready to spend currency. Assuming you are not 100% BTC and you holding at least a couple of percent in fiat shitcoins, what makes you believe it's a better hedge/higher us ability than BTC?
I mean I would understand Bitcoin maximalism. If security and low fees and a fixed supply and adoption and a fixed cap would work out at the same time.
But we have huge trade offs between gold/silver, fiat/cash, Monero and Bitcoin. So I use all of those as I see fit being mainly exposed to XMR, with BTC, cash and gold as hedges for certain downsides.
i last manually audited the bitcoin UTXO set about 10 minutes ago, automatically, because this is how bitcoin nodes work
i have all the blocks, i could run a replay right now and be certain that there is no inflation bugs
i'm not gonna worry too much about doing the full audit on a regular basis because every block it audits the new block to make sure it doesn't cause a conflict with the entire 15 year history, which is stored in a database on my node's SSD
you don't understand bitcoin, that's why you don't get it
also "security budget" is absurd when you count the number of hashes being computed on the miner network is a monotonic, almost consistently growing number, the cost of the security goes down, while the capacity goes up, and the momentum ensures that unless half the internet goes offline and stops using bitcoin, it will never ever be short of security
And you think Monero nodes work differently?
At security budget: I am talking about BTC reliance on a fee market 20 years down the road. We can assume that chances are >99% that Monero's incentives still work by then. There's less certainty regarding BTC.
yes, they don't actually count the UTXOs they just do some other authenticity thing that is spurious and already twice, unless i'm mistaken, has had an inflation bug
you don't care about inflation bug? fine
i am not buying gold bars because there is so much tungsten with gold plate
