#Bitcoin #Ordinals have undermined the "store of value" narrative, hasn't it? #BTC once had excellent product-market fit. I can’t imagine why anyone would want to mess with that!

"Infrastructure is the most efficient mechanism by which society stores and distributes value." - Clay Christensen

#business #systems #design

"Startups go from setback to setback with enthusiasm!" - Brian Armstrong on the the experience of building startups.

Right

Banks are institutions that socialise losses. I prefer to hold my own money.

#banks #finance #crypto

Why would I spend my Bitcoin when it’s value will only appreciate over time? Some people say that I will be forced to do so eventually. I don’t agree. I would always spend something else in order to HODL. Is there any evidence from the countries where BTC is legal tender to suggest otherwise?

You’re right. It’s absolutely important to do so as no one can avoid the biases they have while designing the products and systems and thereby imposing their views on the world.

I see people come to the same key realisations about bitcoin and crypto and state them as original thought over and over again. The highlights being:

1. Church and state were separated so why shouldn’t money and state?

2. The price couldn’t go to $100… as someone would swoop in and buy it up then!

3. Deflationary systems help preserve value in the long run.

4. One bitcoin is always one bitcoin.

5. Money is a store of value.

6. Fiat is a Ponzi scheme!

7. It doesn’t matter who Satoshi is.

8. The energy spent by miners across the world is insignificant when compared with what is spent by the fiat world.

9. The energy spent by miners is not waste. It’s what is required to make this new monetary system work.

10. Keeping the money honest is a way to keeping the world honest.

Did I miss anything? Should something else have been included in the top ten list?

Very glad we went from calling Bitcoin “virtual currency” to “digital currency”.

#terminology

It's becoming harder though!

Are discussions on NOSTR only meant to be about Bitcoin? Asking for a friend.

Good discussion and a great sound byte. But if I may respectfully offer a tiny bit of criticism, is it right to equate “off-shoring” with being shady? Some of us live in jurisdictions that are not crypto friendly and have no option but to setup outside of these areas. I’d hate to be painted with the same brush as SBF.

The greater point really is that I believe the crypto world should adopt a global mindset and not be judged as bad (or good) based on specific geography. SBF was shady regardless of where he operated from at the end of the day.

Would BTC see even more adoption if it had bridges with other crypto assets? Right now the most used method of buying BTC seems to be through centralised exchanges.

So, apart from getting a signal about market sentiments it’s not useful to listen to him anyway?

My local newsstand has put up a sign that says “Bitcoin is accepted here!” I almost jumped to give him a hug!

#bitcoin #adoption

“Wallets” are the most poorly named concept in all of crypto!

#crypto #wallets #web3

This past weekend clarified one thing for me - when making a move to crypto, it's good to reduce or even eliminate your ties to the old world financial system, including stable coins, as it will inevitably drag you down with it!

#crypto #finance

Crypto security has a problem. It’s only got one level of security and that is MAX. But as a user you need different levels of security for say a social media application compared to a DeFi application.

The most secure alternative solution so far is to use different wallets for different kinds of applications. But that ruins any reputation score I may have collected on the social wallet which could be useful on the DeFi wallet. This stuff needs to be solved!

#crypto #wallets #security

Crypto will succeed when it gets mainstream adoption. Adoption is dependent on how simple it is for users. UX design is therefore the one thing we need to focus on as an industry. It’s only logical!

#design #ux #crypto

Woah!