“The young man knows the rules, the old man knows the exceptions.”
— Charlie Munger
#investing
"I keep six honest serving men (they taught me all I knew); Their names are What and Why and When And How And Where and Who."
From "The Elephant's Child," by Rudyard Kipling
"The door on which we have been knocking all our lives will open at last." - C.S. Lewis
44% of all Twitter/X users never made a single post. There is definitely a segment of the population that likes to live in read only mode.
“There are no solutions. There are only trade-offs." Thomas Sowell
"fiat currency is not backed by violence as many people think, it's actually backed by a captured economy" -- nostr:npub1mygerccwqpzyh9pvp6pv44rskv40zutkfs38t0hqhkvnwlhagp6s3psn5p
"Fiat currency always eventually returns to its intrinsic value--zero." - Voltaire
Thanks next task on my list just trying to decide the best option. Any suggestions?
"Information is the currency of democracy." – Thomas Jefferson
If you’re on Twitter/X - please echo this tweet to raise awareness for Nostr, on this timely opportunity. 💪🏻
https://x.com/efenigson/status/1827671292541337777
I followed you on nostr because I saw this post on X.
Great fireside between nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx and nostr:npub1sg6plzptd64u62a878hep2kev88swjh3tw00gjsfl8f237lmu63q0uf63m at Nostriga. I got a chance to listen to it now.
Regarding the question of whether Nostr will have more users than Twitter/X in five years (~500 million), my base case would be no, actually. And I say that as a huge Nostr fan and daily user.
In the long arc of time, Nostr's addressable market is nearly unlimited (basically everyone who uses the internet could be using Nostr in some form), but I expect somewhat of a slower burn. Infrastructure build-out type stuff. And breaching a network effect with a better solution is generally quite a long uphill climb.
To me, Nostr is successful once it starts serving tens of millions of people well. I expect it to be more of a quality over quantity thing for a while. Bitcoin is almost 16 years in and still isn't at 500 million users. But for many of those people, it was lifechanging.
I'd like to be surprised to the upside, but I also don't want people to think that if Nostr is "only" at tens of millions of people in five years, or 100+ million but still sub-Twitter, that it underachieved. It's tiny right now, and numbers anywhere approaching that would be a huge increase.
Nostr is a great improvement for everyone using it. But sometimes it takes people time to see why a given solution is better than what they have, or to realize they have a problem at all.
So in the meantime I monitor Nostr's success by the quality and quantity of developer activity, the capability of the protocol as a freedom tool or the shortcomings it still has for that use case, the quality of the conversations throughout the ecosystem, how many people consider it to be lifechanging tech compared to centralized social media, and in time, steady growth.
Content is still the biggest challenge for me. Broader categories outside bitcoin and nostr don’t have the content depth yet. Categories like breaking news, politics, and finance. Hard to make nostr a single point of contact at this stage.
Start building something new, even if you still need to live in the old.
"When you arise in the morning, think of what a precious privilege it is to be alive—to breathe, to think, to enjoy, to love." - Marcus Aurelius
"Dost thou love life? Then do not squander time; for that’s the stuff life is made of." - Benjamin Franklin
US jobs report was revised down by 818,000. Does not help build confidence in any other official statistics.
I finally got off the nostr:npub18s4zkd0wjq5gkthz4paw2704ty4s354wcp2krvxy0sewz3g9z2cs73ydrt waitlist, but I’m not really sure what to do with this if it doesn’t support Lightning.
Agree with the point that this is a great entry point for current Proton users. They already trust the name, so extending to a wallet is a natural step.
"The first lesson of economics is scarcity: There is never enough of anything to satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics." - Thomas Sowell
“People with no experience in business, no knowledge of history, and utterly ignorant of economics do not hesitate to leap from high prices to greedy profit-makers. Many of these ignorant people are on nationwide television and some are in Congress.” - Thomas Sowell
“People with no experience in business, no knowledge of history, and utterly ignorant of economics do not hesitate to leap from high prices to greedy profit-makers. Many of these ignorant people are on nationwide television and some are in Congress.” - Thomas Sowell
X is content overload. I spend most of my time filtering out the stuff I don’t want to see. With Nostr, I spend most of my time searching for the stuff I want to see.