Thank you! At least I’ll get to have plenty of fun time on my boat with my seed backup between now and then
Is 1099-A retroactive? Meaning: do they require people to report transactions that happened before 2025?
As a community we shouldn’t strive for “no fees” because that implies the mints or LSPs aren’t providing value. Fewer fees is nice though.
The custodial aspect is a valid concern though. We need more alternatives.
It’s the year 2140. The sun has been partially covered by the unfinished Dyson sphere that powers the bitcoin mining industry. The plebs trading memes for #ecash on nostr relays in the Kuiper Belt hardly remember a time when they could shitpost from the beaches of Florida.
#MicroStrategy needs to help decentralize #mining if they want to spend their coins securely and sovereignly in the future.
The lightning network won’t matter if nobody can open a channel with them.
More is better but we need every country to participate if we want to avoid censorship
Almost certainly bots. It’s inevitable. Just remember there are many forms of censorship, but the most practical one in the digital world is to crowd out useful discussion.
This is guaranteed to occur in many ways unless there’s a prohibitive cost to posting. The next phase will be to make it impossible to discover new quality accounts to follow. Then the popular accounts of today will be targets.
This helps prevent plebs from gossiping spam to others, but eventually won’t the mining pools provide APIs for submitting transactions directly to them?
A more viable path might be to have a fee structure that doesn’t scale linearly. Can we weight OP_RETURN higher? Scale it quadratically?
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Learn about and support Stratum V2
If mining pool centralization gets worse then demand for layer 2 and 3 will grow exponentially.
Ultimately you have to play the long game. Everyone who cares for privacy needs to be vocal, effective advocates to our families, friends, and neighbors. We need to teach people why it’s important.
It’s not going to be easy, but it’s worth preserving.
Which falling empire? The two biggest economies in the world are competing to see who can surveil the most. Europe is well on the way too.
The US and China regions control the vast majority of the hashrate.
Two observations:
1. Wtf is the rest of the world waiting on?
2. The American culture is one of individuality and the Chinese is collectivism. The battle over hashrate will be the first time in history such competition can take place overtly and digitally.
For the American model to continue it will require many individuals to agree to row in the same direction for a common cause. We have a common cause worth uniting for.
It’s not enough for the protocol to be open and decentralized.
If the rails on which the protocol rides are compromised then the protocol is compromised as well.
Europeans have 3 years to migrate to Bitcoin
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We're working on fees! Most mints will have fees because it's the best form of DoS protection.
There is a way to force regular bank runs on the mint that help with proof of liabilities, but we're still early with this: https://gist.github.com/callebtc/ed5228d1d8cbaade0104db5d1cf63939
Great stuff, thank you for all the hard work!
I made a proposal for a global telecommunications service facilitated by #lightning and #ecash
It’s amazing to see so many applications and use cases competing for Bitcoin. We’ve got Nostr, Lightning, various eCash projects, Liquid, etc
Each one will compete to bring sats into their network thus increasing the value of Bitcoin for everyone.
Are there any incentives to keep a mint honest? For example, if a mint charged a small fee per day or month it incentivizes them to not rug their users since they’d lose revenue.
Are there other ways? Forced transfer to a random mint at random intervals?