Replying to Avatar Brisket

Yeah there are elements of nostr that have carried themselves over from legacy social media & new elements like zapping. I think nostr culture is still evolving as we figure out what this thing can do & what we want it to be. There is also a constant feed of new people trying nostr out that bring their own way of interacting with it. I really like that people can be heard if people want to hear them - there's no algorithms to intercept messages. Nostr was built with the architecture of Bitcoin in mind. Now that it has been created, I don't think it can be stopped.

An individual's bitcoin is essentially protected by a complex secret that's hard to guess (12 or 24 randomly selected words). If I've secured that secret, it's near impossible to extract it from me. Obvious threats are torture/threats/coercion to get me to reveal my secret. At the end of the day, the attacker needs to get the owner to surrender their complex secret. This is a real threat & why many of us do not use our real identities when taking about bitcoin. We believe any amount of bitcoin will become significant with time & we know how that can motivate people.

The hot water heater was paid for by my credit card in fiat. I converted the fiat cost to sats out of interest & because it's what it essentially cost me (the opportunity cost). There are still few places to spend bitcoin here either - most people haven't touched bitcoin yet.

Is any money safe? Great question to ask - it leads on to - what is money?

I think we're at the end stages of a fiat currency experiment. I think all fiat currencies will lose most of their value this decade & that people will look for an alternative way to trade & save. Some will choose gold, silver &/or bitcoin, while others will accept the CBDC replacement. Barter will always occur, but it is terribly inefficient & slow for trading. I think it will occur but that bitcoin will be more preferred & readily accepted for trading.

I would encourage you to look at money through a neutral lens. What are the properties of money & how does bitcoin stack up against them? It's weakest aspect is how old it is (only 14 years) & it's level of acceptance. To me that is just indicative of how early we are on bitcoin. The future is uncertain & there is a chance a better option will be settled upon (I just can't see it though).

People tend to settle on a single form of money & that tends to also be the hardest money to create. For the last 5000 years humans have settled on gold as money, but it has a lot of flaws (transport, storage & verification primarily). Time will tell what happens, but it might just pay to have a little bitcoin in case it catches on.

Thank you again for great reply!

Awesome! You know your history!

You mentioned something really interesting.. silver & gold.

Do you think that will make a comeback?

Where we start stacking physical sliver & gold coins/bars. Know people that do this very thing, they also preppers & stock food, ammo, that kinda thing… but they educated me value of how physical silver/gold can also be used as barter material. Mind you, keeping full cabinet of grocery rather smart thing to do to, def see value in that, & think its smart to plan ahead (within reason). Esp lost art of home canning with salts & vinegars fruits/veggies we grow ourselves.

Folks I talk to that buy physical silver/gold hoard the material. Almost like a bitcoiner mentality in that it’s form of “money”. And yes agree definition “money” is loaded question. Now I can def get onboard with idea of buying silver/gold, perhaps even other rare earths like platinum. Diamonds, rubies, jewels.. absolutely no. They not rare, they not special, I could care less for hubby to gift me with diamonds 💎, I personally see zero value in them.

So ya, tell me more on your thoughts with silver & gold. Do you think that will be more popular with time? Perhaps on par or better than bitcoin?

Side note. Something that makes me nervous on bitcoin is part where it requires “internet” to function. No internet, no power, = no bitcoin. IF, war was to break out cause Russia decides it wants attack over here, if we lose power, internet, data connection.. bitcoin is absolutely useless technology. Then what? Then the silver & gold folks are prepped & better position then most.

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