Subnostr

i use a bitcoin node on a mini pc and only push it to my xapo card when i need to have fiat spending ability, so, it's my ... savings?

it's not big enough for me to think "ok now i need actual cold storage" but maybe if i get more work in the next 5 months it will be, then i'm getting titanium and a stamping kit and seedsigner

Laeserin 1y ago

My current setup is

- my husband gets paid at the EoM,

- at the beginning of the next month, the bills, VISA card, and investments (including an irresponsible amount of Bitcoin 😜 ) get auto-deducted,

- I withdraw the cash for the month

- and swap some BTC to LN,

- and then we're basically broke until the Kindergeld that trickles in near the end and covers later auto-bills and (usually) keeps us out of the red.

The more things I could pay for with LN (there actually are starting to be some local places that take it, yay!), the more money would go into LN and the less I'd need to use the VISA for. I see lightning as a replacement for debit/credit cards, Google Pay, or PayPal, not as a replacement of fiat cash. (So long as inflation doesn't go over 10% per month, or something, at which point the swap-in/swap-out fees for bitcoin debit cards might be worth it.)

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Discussion

ᴛʜᴇ ᴅᴇᴀᴛʜ ᴏꜰ ᴍʟᴇᴋᴜ 1y ago

yes, lightning absolutely wipes the floor with the speed and throughput of those payment processors... i'm sure they are nervously watching and probably even spending some on sabotage

Laeserin 1y ago

I guess that's why they want us to use CBDCs, so that they can pretend to be real money. LOL

ᴛʜᴇ ᴅᴇᴀᴛʜ ᴏꜰ ᴍʟᴇᴋᴜ 1y ago

the problem with their logic is their system is proprietary and centralised so it's not resilient like physical cash or lightning or bitcoin

the only thing that makes bitcoin and lightning less than perfect is the event of a massive internet failure, or at least where you want to use it... i am pretty sure that a LOT of money is going to already be going into R&D to EMP proof the internet...and i'm quite sure that wireless networks are gonna get the chop, they are completely worthless once there is a big enough geomagnetic storm, radios are the first thing to fail when the air is filled with electrons... shielded, grounded stuff and optic fibre can survive this, and that's basically what i expect in the next 5 years or so, such a massive event that literally everyone stops using wifi and mobile phones, because everything, i mean everything, even the ones in the warehouse, are toast

ᴛʜᴇ ᴅᴇᴀᴛʜ ᴏꜰ ᴍʟᴇᴋᴜ 1y ago

and yeah, a replacement for NFC that uses optics is also something i expect, because it can be fully faraday caged

ᴛʜᴇ ᴅᴇᴀᴛʜ ᴏꜰ ᴍʟᴇᴋᴜ 1y ago

failure of radio networks puts a big ding in bitcoin as a payment method in bricks and mortar retail, if the radios are out, but it doesn't affect online ordering if it's all shielded and optical

Laeserin 1y ago

Yeah, cash bills are really the only competition for Lightning.

Don't know how far eCash will be able to take over the euro cash market. Very very alpha, so far.

Laeserin 1y ago

I mean, PRINTED eCash. Like, on paper. 😅

ᴛʜᴇ ᴅᴇᴀᴛʜ ᴏꜰ ᴍʟᴇᴋᴜ 1y ago

yeah, there needs to be a way to do ecash in an EMP, internet down proof way