What's the most important and least discussed topic in bitcoin?
Best response gets 1k sats ā”ļø
#asknostr
Discussion
Eth-btc spread
How most people are still in it for more fiat. Hands down. 1K. Hozzel
Ballgame
wen lambo?
Actually explaining it to the Baby Boom generation, instead of dismissing them/ blaming them. Then incorporating Inheritance planning with it as mentioned before.
WHO IS SATOSHI
If thereās not enough demand for blockspace then the network is not secure long term. Hodling / NGU isnāt enough for this to all work.
#circulareconomy
Breaking down barriers to more people/normies getting into B
Changing the way exchange sells bitcoin. not more 0.00001000 per $ but 1000 sats per dollar.
SAT STANDARD
Yea that was going to be my answer too
We gotta get people into sats
Not bitcoinā¦..
Saylor. A brilliant man with an undeniable strategy.
Butā¦ the elephant in the room. To bit too fast. Theres a lot behind the scenes we donāt know.
Could spark a chain reaction and become a black swan.
Thereās not enough chatter about steel manning the idea that he has to many bitcoins
Or we get super cheep sats maybe even super cheep whole coins. Like nature BTC will heal itself and carry on.
I think everything will be fine in a bull market. Wouldnāt be surprised if $MSTR goes to $1000/share next year.
I think Saylors ego is too big though. He is brilliant not I think he wants to be the next Bezos or Musk. I could see him over leveraging at the top, leading to a liquidation event and a $5/share price if we ever get another 75%+ bear market.
#MSTR has way too much risk. Better to just HODL bitcoin.
Im not a saylor fan personally. I thought it was too much too soon last year.
Personal debt. Most normies are deep in the hole. Without framing a bitcoin conversation around a debt planning converaation, neither is likely to be resolved to their benefit.
How easy it is to pay cross-border, 0 tax, globality
I don't need the sats but maybe air gapping. People just accept apps telling them it happens without trying to make it fully secure. Existing air gap solutions have a lot of room for leaking and are overcomplicated compared to more secure solutions that would rely on transferring data by hand
if you arent creating hard value, and we are on a hard af currency, ur gonna be completely fucked. thats probably the vast majority of people today.
see, people think btc will bring more prosperity to the have nots, and thats not true. the welfare state as we know it will crumble on a hard money standard, so people that arent creating IOUs for other people will be very, very poor once they are forced to sell whatever bag of btc they were able to front run ( probably more poor than before).
Bitcoin cannot scale globally on the base chain and even if it could not everyone is going to be able to afford their own UTXO. Layer 2s are going to have to be used but no one wants liquid, people crap on eCash, and hosting a lightning node is expensive, technically difficult, and there are very few decent self custody wallets.
This is what people should mean when they say the institutions are coming.
This is very discussed, it's just that nobody likes the conclusions it comes to.
I'm optimistic though. Incremental imporvements made by small groups of people over a long period of time is how we create sustained progress.
If the money printer is going QE infinity to service debt that can never be paid back and Bitcoin is going to $250k, $500k, $1M this cycle then we do not have a long period of time.
Yes, but right now there is no issue because block space meets demand well. Mempool is essentially empty in the grand scheme of things.
More of what I'm saying is that most people do not want the responsibilities of self custody, let alone even understand Bitcoin as money. We cannot compromise the great network we currently have to achieve a goal which isn't even currently desired.
I have not suggested a solution or advise that we sacrifice anything. I'm only saying that this is a problem. We all know it's a problem. There is no simple solution or we would have figured it out by now. And I think the problem will be on top of us before we realize it.
We owe it to future bitcoiners to be building out proper non-custodial solutions now, up to and including layer 1 improvements that will enable things like UTXO sharing. It's just now dawning on many they need Bitcoin, yet Satoshi had the foresight over 15 yrs ago to create this life changing technology. We need to practice the same future thinking and not get distracted by NGU and institutions/governments rolling in.
Bingo. It feels like most Bitcoiners think we have many years before most are priced out of miner fees. The topic may be well discussed, but I'd argue it hasn't exactly been fruitful and is mostly regarded as a distant problem.
Inheritance planning
The risk of too much centralization and "paper Bitcoin" because most won't be able to afford a UTXO in the future and we currently lack the tools and tech to enable sharing of them. I fear a future where we simply exchange one class of elites for another.
It is philosophy, technology and a casino.
Does Bitcoin has the potential to increase transparency and accountability in government spending and military actions.
By providing a public, immutable record of all transactions and transfers of wealth, Bitcoin could potentially make it more difficult for governments and politicians to engage in corrupt, secret, or unauthorized warfare and spending. The cryptographic and decentralized nature of Bitcoin makes it difficult for any single entity or government to control or manipulate the currency. This could make it harder for governments to declare fake justifications for war or to misuse funds intended for other purposes.
The transparency and immutability of the Bitcoin blockchain would make it easier for the public and international organizations to track and scrutinize government actions and spending. This increased scrutiny could discourage unauthorized military action or government waste. Additionally, the high and predictable cost of mining Bitcoin and the difficulty of manipulating its price through centralized control could make it less appealing for governments to engage in inflationary policies and to start unnecessary conflicts.
5 Citations
Why Governments Are Wary of Bitcoin
https://www.investopedia.com/articles/forex/042015/why-governments-are-afraid-bitcoin.asp
How bitcoin could end endless war, and other big ideas from The Bitcoin Standard | by @MishaGuttentag | Medium
How The US Government Handles Its Massive Stash Of Bitcoins
https://www.investopedia.com/news/how-us-government-handles-its-stash-bitcoins/
āA Dramatic ImpactāāPentagon Told Bitcoin Could Prevent War
The US government has a hidden weapon it could deploy against Bitcoin | MIT Technology Review
Running a node
Unit bais
Proof of work versus proof of stake.
what will happen to bitcoin network when quantum computers up and running?
KYC/AML regulations are the present attack on freedom money.
1bitcoin is 100million sats, What happens after sats. Things are definitely going to cost us 0.00001 sat in the future
May have already been said but:
Most people will opt for the easiest way of interacting with Bitcoin. Most people will not hold their own keys. Doesn't matter what soft fork you choose.
UTXO size, before telling people to move to cold storage.
Iām an 8 or 9 digit UTXO guy canāt be having any peasant balances.
It kinda drives me crazy when bitcoiners talk about DCA, while simultaneously telling people to take their coins off the exchanges right away. Parroting talking points, without actually thinking it through.
I ended up learning about UTXO management with a lot of smaller UTXOs in my hardware wallet and Iām really glad I learned about it before it got out of hand.
100%. I think itās a good exercise to go through at least a few consolidations for newbs to get the feel for using the Network and their signer. I know it made things crystal clear for me back in the day and for a few people Iāve onboarded to self custody. Sparrow is mandatory too that software is the pinnacle.
Also dealing with exchanges teaches great lessons too. When you āsendā from an exchange you have to wait for them and jump through their hoops. When you consolidate the tx hits the network right away, and thatās often a big āah haā moment for people. Permissioned paper IOU vs bearer asset on a global 24/7 permission-less network. World of difference.
Definitely agree on that. Doing smaller consolidation amounts at first, through Sparrow, is a must for the learning curve.
My guy
How few jobs/services have been organized/categorized or advertised for bitcoin, for bitcoiners and by bitcoiners.
Granted, we're a small group still, we're quite early, I get that, but outside of developers & engineers, I'm not seeing any other businesses offering to pay in bitcoin for very necessary services.
That there is life beyond bitcoin...
Zaps on nostr.
Why itās going to succeed. Ie. the tech behind it. Ppl lately are just going in blind. Education is important. And Iām still learning
How to get the next trillion people orange pilled. Especially in the western world. Thatās imo way underestimated because you need an approach that is compact and easy to catch, free from all the very tech details and complexity that only nerds appeal to, free from the āget rich stuffā with big numbers and without the conspiracy their narrative of āthe bad stateā that is āstealing from usā etc. Thatās all things that worked for the people that are already in, kind of, but will not bring in the next big wave that we all want to happen. Still you need to make clear why #Bitcoin is unique and needed. Thatās a balanced approach hard to achieve.
Bitcoinās 4 year cycle. The bull run is starting now, it will last through late next year/early 2026, and then thereās a hellova crash. That crash is going to be terrifying for those unaware itās coming, especially for traditional investors who bail when the price plummets. For those who know and have the means to purchase, it can be a 2-for-1 sale. š
Question is what is the lower limit in cycle in general
Lack of transparency is huge.
Seen a bunch of āTrust me ā¦ ā for people to lose everything.
1.5 years ago it was all about HOLDING in the #USA. #Americans we must build the circular economics for it to work here.
Too many want to get to some island šļø by some arbitrary metrics measure. Maybe thatās it. Lots of competition to be first instead of being the best possible. Humans, tech, AI š¤ etc.
No: I still donāt have a lightning address set up because someone will remind me. š
Advances for merchant adoption is one of my favorites
Bitcoinize PoS device for easy all-in-one BTC/lightning sales
Boltcard/Boltring for variety in payment options such as customer not having their phone or local network access
eCash notes for offline transacting etc
Relax and enjoy life. š
Without bitcoin we could end up with nothing.
āYouāll own nothing and youāll be happy.ā
ā WEF
#Quantumcomputing poses a significant threat to #Bitcoin anonymity.
A powerful quantum computer could break current cryptographic algorithms, deanonymizing transactions & potentially revealing sensitive info.
WEN quantum-resistant #cryptography chat?
#BitcoinSecurity #anonimity
This is it right here. I fully agree.
Now that the "the guberment will ban beet corn" narrative has flipped on its head and the TradFi world is beginning its stampede, what are the downsides of this happening?
I'm thinking of this (by user BitStrategy21 on X):
It is a bold vision but one that I could see happening. What if the legacy system really doesn't have to collapse?
But if bitcoin "rejuvenates" the old system, might it mean that at least some of the legacy system problems get carried over to the new, rejuvenated system and then those same problems just persist?
I don't know the answers, just something I've been thinking of.
MicroStrategy
Consensus
How to make the bitcoin development process resistant to state pressure. If large economies like the US start holding bitcoin, itās not going to take long for them to realize they can use pressure to push the bitcoin software in directions they care about. Ideally we have multiple implementations running on the network at that point to make the network even more change resistant.
Tariffs paid in bitcoin (nostr:npub1ccsfkkfk46jsjtn80cup0vjn98slkheqd65t36tut822kddvdcxqxjdc57)
Low time preference and how it promote good productivity and decision making.
Hashrate distribution
Circular economy usage.
the paranoia
masturbation
How ideologies of Bitcoin can better your personal life, relationships and even your work in the Fiat mines š§”
Softfork activation processes
Those are two sets with little overlap. But as you asked, how we do plug into the global network of fungal hyphae.
Ugh ... never mind.
https://brandonquittem.com/bitcoin-is-the-mycelium-of-money/?ref=blog.lopp.net
š© Lopp.
... ++Brandon Quittem, fungi and bitcoin.
The most important and least discussed topic in Bitcoin is how to ensure that your Satoshis survive your death. So that future generations do not have to loose what can not be replaced.
I'm curious as to the amount of old rich people present. like, what? how is it to be a currency if it's so stuck to the USD? unless I missed something.