Today's show will be on bitcoin but some of you vets may not really dig it, we have lots of new people and people on the edge of getting in. I want to make it easy for them. Things like DCAing on Strike, etc. No need for super secret run your own node on Tor talk. Anyone that gets that is already here.
What are some topics I should discuss today and questions I can answer to help people who have only stuck in a toe or are just about ready to?
Overall timeline of adoption? Strategic Bitcoin Reserve, States, Countries printing fiat for BTC. Any potential crashes? Just curious on your 1 year, 5 year kind of predictions with BTC.
How to get started with lightning and nostr to earn bitcoin. ⚡
Sounds like a timely show.
I’ve orange-pilled a couple people over 2024 - only to have them come back with ‘I got some ETH, etc., on that last dip’ 🙄
Why bitcoin only seems like something we can’t say enough.
‘I’m smarter than DCAing’ is another newbie pitfall.
What a satoshi is in relation to a whole Bitcoin.
I enjoyed Dante’s swan video yesterday on how to recognize and avoid scams.
It was a nostr:npub1vzjukpr2vrxqg2m9q3a996gpzx8qktg82vnl9jlxp7a9yawnwxfsqnx9gc video and I found it and replied to you on x. Sorry my noster jiujitsu is still weak.
Wallet options and what they mean.
Discuss value being exchanged for goods and services - YES YOU CAN do something with it (beyond hodl)
Maybe suggest one other option for easy buys. I had a very hard time getting approved on Strike. Customer svc is not great, although once you're in, it just works. River is another great one, btc only, and they also let you withdraw to a lighting address. A new feature is you can hold cash on River and earn interest in btc. FDIC insured, just like a regular bank.
How hard is it to get BTC into fiat with River, seems like it is integrated AF honestly.
Limits, in and out, hold times, etc.
Say I have a River account and lots of BTC in Cold Storage. I need some, emergency happens and I want fiat. I put 15K of BTC into River, when how can i use it to say pay a huge bill that has come due?
I need to learn more about river but like most folks once you have a few places that work, you stop trying new places.
Honestly i have not tried moving btc into cash on River. But you link your bank acct, so should be no harder than vice versa. I just dca direct from our bank to River, then move to self custody after a certain amt. If you set up dca, there are no fees, i love it. And they are based in Austin. I have called them several times to ask a question, and a helpful human answers. Might be important for a newbie. Just last week we moved some cash from a crappy savings acct to River instead, i'd rather earn interest in btc than a crappy 1-3% cash. Oh, and i really like that you can withdraw with lightning too. Pretty convenient. All their limits are posted on their site, i just havent run into any issues with that, so not sure the amts.
UTXO basics, the unit bias fallacy...
For the dumbasses out here: how to know if your zaps are getting through. Also, set up of Alby. I’m not sure if I’m just retarded, but I have not been able to find a good resource, so I’m guessing that others are having problems too.
nevent1qvzqqqqqqypzpwy9rgrdl4uafr7ry535590f534r9gyc92prk4xdlqj3fwd3yzapqqsta870z3ksyt8nkt04drc33n4w0wdq0qy3krhmyn0krfwuxx6scvqua99gr
What is a multi sig wallet and how to use one or do you actually need one.
Score! I’m closing in on 500 bucks still on the exchange. Would have been there but I used some to try buying things and well my Nostr zap funds. Starting to look into what kind of wallet to use and the relative merits. Not really what I’d call tech savvy though I guess that’s relative too.
Some of the most common pieces of FUD I see regurgitated over and over again are, in no particular order:
- The "imminent" quantum attack
- Inflation is necessary for muh economy
- BTC is for criminals (unlike banks, I guess?)
- Bitcoin boiling the oceans
- Bitcoin being "controlled" by whales
- Being too late to bitcoin
- Bitcoin is risky
- Self-custody is dangerous and hard, so keep all your stack on the exchange
- The imminent danger of a 51% attack due to miner (actually pool) centralization
That's just off the top of my head. I see a very, very strong Dunning Kruger effect in the tradfi community, especially.
Well F a duck, I think I got the zaps working! As usual, I did not fully understand the wallet setup. Zapped you $1–don’t spend it all in one place. Looking forward to the show.
