Conditions in the global market today are qualitatively different than they were prior to 2022.
How much of that diminishing CAGR is explained by changes in monetary policies around the world?
Honeypots, tarpits and the like can slow down your target but it’s an arms race for them to build better tools. This new product from Cloudflare will cost them a lot to maintain.
If you really want to let the public use your service or crawl your site let them pay with sats and be excited when they scrape your content.
You’re probably right. I regret the day I switched from Android. I’ll likely switch back in the coming months
Oof this doesn’t display well in Damus or Primal.
Try it out! It’s a nice little workaround for a problem I just mentioned yesterday:
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Excellent work Egge! Just tested it by sending you a zap. Hope it landed 😅
Ok ok fine I’ll buy a pixel and install #grapheneos and buy an eSIM with bitcoin.
It’s been on the TODO list.
Trying to figure out how to connect my Cashu.me wallet with Damus on iOS so I can zap from there. Or Nostur. Nostr wallet connect is setup but zapping still does nothing.
Got my balance to show up in Nostur but can’t send. I don’t want to plug my nsec into Cashu.me which may be adding friction?
Anyone have a magic incantation to make this work?
Something I’m excited about if I understand your Safebox correctly is the ability to store a full backup of your phone on relays so you can carry a fresh device across tyrannical borders and restore on the other side.
This can be done with bitcoin wallets and your social graph already but for general purpose storage on Nostr I think Safebox can be a natural building block for a full digital identity backup.
Thanks for all the work you’re putting in!
Nostr is a network where the majority of the value created goes to the users.
Third parties have more fierce competition and less likely to capture a large percentage of the value unlike in traditional ecosystems like Google, Meta, TikTok, etc.
It’s an inverse “tragedy of the commons” - a “prosperity of the commons” if you will.
You can discover bitcoin through an investment position (ie. NGU tech) but you can’t stay there.
Holding bitcoin long term means you must embrace the cypherpunk ideals or you run the risk of destroying the very thing you “invested” in. Either you get rugged by your exchange, tricked into dumping at the worst time, or promote policies that run counter to bitcoin’s adoption.
My understanding for these tests is that they can’t rule out an avalanche but rather if they fail then an avalanche is likely.
In other words, just because it passes the avalanche test doesn’t mean it’s safe to ski. Is that right?
Important life lessons
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First France spoke about "leveraging" private investments to ramp up military spending, and now the UK is looking to do the same....
That's bad. But the worst part (for me) is that the rearmament effort will be exempt from ESG rules!! What a fucking joke.
"The Government is also working in parallel to ensure defence investments are not hindered by so-called environmental, social and governance (ESG) rules. John Healey, the Defence Secretary, revealed this week that he was working with Rachel Reeves, the Chancellor, to ensure future investment would not be not blocked on ESG grounds."
This is as close as you can get to saying that ESG is there to block growth and investment and industry.
https://finance.yahoo.com/news/pension-savings-spent-rearming-britain-134231895.html
A century ago countries would issue war bonds to raise money and the people could decide whether or not the war effort was justified.
Now with digital banking they can take your money without permission. It’s never been more obvious why we need bitcoin. Thanks for sharing!
Ecash meet sneakernet 🤝
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I agree with your points and don’t want to come off as dismissive of lightning. I’m grateful for it and all the work being done in the ecosystem.
I personally don’t mind the friction at this phase of adoption, but I’ve made the mistake of recommending lightning wallets to newcomers and when they run into the sharp edges it can set them back. Now I only recommend on-chain to anyone who hasn’t been sufficiently orange pilled.
The other day on Twitter/X, I paid out a 2,100,000 sat or $1,700 USD Lightning bounty.
Over the past couple years, I’ve offered an occasional challenge on Twitter/X.
When people tell me Lightning doesn’t work, I often ask them in random comments for their Lightning details so I can pay them in the next 5-10 minutes on the spot, permissionlessly, wherever they are, with this payment method that supposedly doesn’t work.
Every single time, they can’t do it. Because they haven’t even tried it. They’re just talking. I’ve done this a ton of times and nobody ever takes the sizable sat offerings.
In Dan Held’s anti-Nostr thread, Mark Jeffrey was critical of Lightning.
Unlike most who I offer the challenge to as 99% sure they won’t take it, I offered it to Mark despite knowing he had a much higher probability of accepting it, since he’s tech savvy and active in the broad crypto space. But in my view, if he accepts, then that’s also evidence on the spot that it works.
He declined my 21,000 sat offer and politely still talked anti-Lightning.
So, I said since I like him, I’d up it to 210,000 sats. He still declined and talked more anti-Lightning. He spoke about how he *wanted* it to work, but the problem just isn’t solved yet.
My inner Nostr Lyn couldn't help it, so I upped it to 2,100,000 sats, or $1,700+ USD, if he would just post a way to pay him on Lightning within the next ten minutes. Nobody had ever taken me up on my challenge, so I pressed to my highest offer ever just to see, out of sheer curiosity. He’s a multi-time published novelist, which with my recent fiction hobby, interests me. So, if there’s someone I want to claim the bounty, might as well be him.
And then you know what? He did. Of course he had a Lightning address.
He went from “want it to work but…” to digging through his past experiences and finding an old Lightning address, within a few minutes. The first person on Twitter/X to accept my challenge.
I paid him 2,100,000 sats on the spot, or $1700+ USD.
He provided a Stike address, so that’s a shout out to nostr:nprofile1qyxhwumn8ghj7mn0wvhxcmmvqywhwumn8ghj7mn0wd68yttsw43zuam9d3kx7unyv4ezumn9wsqzp382htsmu08k277ps40wqhnfm60st89h5pvjyutghq9cjasuh38q7t6dtc who made Lightning convenient enough for Mark, who doesn’t understand or particularly like Lightning, to finally call my challenge and make me have fun staying poor, lol. And it worked flawlessly despite being an above-average sized Lightning transaction.
I then asked Mark if he could identify the sending wallet, but he said he couldn’t. He asked about block explorers to identify the payment, and while I pointed him toward Mempool Space, I highlighted that Lightning tends to make sending privacy pretty good even though I didn’t maximize privacy on this one. I'm not deep into the weeds on privacy tech, so I'm always genuinely curious just to ask "hey, can you identify any privacy leaks here?"
I also asked him if he would have shared his bank details publicly like he shared his Lightning address. He said of course not.
So even if people say “But Lyn, Mark used a custodial wallet”, I’d say that this tech stack reduced his friction and boosted sender privacy.
I think there are still improvements to make of course, particularly Lightning combined with other scaling methods (ecash, Ark-style stuff, and so forth), but it’s a powerful glue that connects a lot of things together.
In addition, when it comes to payments and small amounts of working capital, there is an important “choose your own adventure” aspect. For small amounts, in safe jurisdictions, custodial Lightning is not that big of a deal, like keeping cash in your wallet that is prone to theft or loss. It maximizes UX.
But it’s important to keep pushing hard, keep developing, keep providing capital, to make as many tools as possible available for people that need to maximize privacy and/or self-custody. Not everyone needs or wants those capabilities for every single payment, but they do need the *option* to turn to them when it’s important.
Mark Jeffrey then reached out to chat about fiction. Last year he asked me to go on his podcast to talk about Broken Money, but I fell behind on Twitter/X DMs due to bandwidth constraints and didn’t get back to him. So, after this I got back to him and said I’d be happy to talk about fiction with him to pick his brain, and talk Broken Money on his podcast, and we got one scheduled. 🤝
For what it’s worth, there are legitimate issues with lightning payments depending on your setup.
For example, maybe I’m an idiot, but I had a roughly 90% payment failure rate with the Breez wallet. Phoenix works almost flawlessly. Mutiny wallet was great until they shut down. It’s possible some of the naysayers have tried Lightning via those apps and got burned over and over and have a hard time looking past that.
Calling all (quality) content creators.
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