Don't

How is this going to stopp ever?

Hahahah

Nice to meet you all.

Dearest Zappr bot recipients,

You know you don't *HAVE* to reply to the bot, right?

#Bitcoin Mining Porn

what’s everyone’s best news source these days?

This is still what crypto people think 🤣🤣

And it’s not even close!

#[0] was cheesin’ hard throughout the interview with Lionel Shiver.

That Orange Pill is so close. 95% there. 😂

You can't scale technologies in layers.

🧵 👇

You *can* build applications and reusability frameworks in layers.

And no, the internet does not *scale* in layers either. I'll explain below.

There is an absurdly common misconception that technologies like Bitcoin can scale in layers. When responding to criticism of Bitcoin's lack of sufficient throughput (4-7 tps) and extremely high latency for full confirmation (30-60 minutes), proponents will often claim that "second layer" systems like the Lightning Network magically solve this problem.

This just simply isn't true.

*Lightning is not Bitcoin*, and is not attempting to scale bitcoin itself. It is an entirely separate application that leverages Bitcoin as a *feature* for settlement.

Unfortunately, as a separate application, it also has an entire transactional model of its own, completely separate to Bitcoin's. One that is far more complex and prone to bugs, faults, and vulnerabilities, is far less decentralized, and tends to be very custodial.

Lightning is indeed relatively scalable, but it makes tremendous sacrifices in complexity, security, and decentralization in order to achieve that scalability.

Unless running your own node, you're using LN custodially to some extent, whether a fully custodial wallet or at a minimum custodial channel management. This is completely antithetical to everything Bitcoin represents.

Graph theory tells us that the complexity of searching for paths between two vertices in a weighted directional graph means that Lightning simply cannot scale without dependency on the formation of massive centralized liquidity hubs, acting as middle-men collecting more fees from the users.

This is essentially a reincarnation of traditional fiat banking/credit/payment applications, only built on top of Bitcoin rather than fiat. Yes, Bitcoin provides a much more sound base layer, but the "transactional" Lightning layer is just as compromised as in current fiat monetary systems.

We can do better. We can keep the transactional layer on the base layer itself, with significantly improved decentralization, security, throughput, latency, and usability.

I also frequently see Bitcoin supporters pointing to the internet as an example of a system scaling via layers. This is very inaccurate. The internet does not scale in layers.

Each layer of the internet protocol suite is an application or reusability framework layer, and is as optimized as theoretically possible for its specific purpose. And all of them fully rely on the underlying layers for all relevant activity.

None of them are attempting to scale their underlying layers.

The HTTP protocol does not implement its own solution for data transfer. It relies fully on protocols like TCP, UDP, QUIC, etc for data transfer.

This is not true about Lightning. As I said before, Lightning is a separate application entirely, using its own protocol for transactions and other operations, circumventing Bitcoin's transactional security entirely and using it only as a feature for settlement.

Many Bitcoin advocates have seemingly been convinced that it's impossible for a base layer to provide adequate scalability (throughput and latency) without sacrificing decentralization or security.

This problem is often referred to as the "blockchain trilemma". What people tend to misunderstand about this trilemma is that it only applies to parameterizations of a particular system architecture.

If you take Bitcoin, and make its blocks bigger, or its block time shorter, you can increase scalability significantly. But in doing so, you're likely making sacrifices to decentralization and security. This much is true.

But by completely re-architecting the solution from the ground up, we can and have achieved significant improvement across all areas of concern, including scalability, decentralization, security, and usability.

Sounds great 👍🏽

That will be my next book 📕.

Never heard about before.

Thank you guys for letting me post non bitcoin things. This is my personal blog :)

Gm guys 🤙 how’s your day? 👀

目前中国境内已有个多个运营中的relays，相比数量还是少的多。

First meme on Nostr

⚡️ZAP A DEE DO DAH ⚡️

⚡️ZAP A DEE AY⚡️

比特币是硬通货，你不能乱来。

没有人控制它。没有政府，没有公司，没有中央银行，没有印钞机。这是一场和互联网一样伟大的革命。而且它从来没有被黑过。

企业家和投资者杰森-A-威廉姆斯是第一个把比特币放在2020年危机背景下的作者--这一年的金融灾难和前所未有的货币创造震惊世界。

比特币不仅是2020年地球上表现最好的资产，而且在世界各地的中央银行拼命印钞的时候，它悄悄地确立了自己作为下一个全球储备货币的地位。

作者用简单、易懂的术语解释了比特币，并描绘了这种 "神奇的互联网货币 "将如何成长为我们有史以来最好的货币形式。