“The price good men pay for indifference to public affairs is to be ruled by evil men.”
― Plato
Lady Under Perpetual Siege sounds like an interesting movie
I think we're in the situation of "we don't know what it is yet". Of course, its permissionless nature is in and of itself a paramount use case for end users, because they effectively can't be de-platformed. However, this may be hard to apreciate for most end users though, never having had their account suspended.
But the somewhat unexpected benefit of permissionless-ness is the cambrian explosion of creativity being unleashed, with swathes of highly skilled people experimenting new ideas that this medium enables. True, a lot of it is rough around the edges, and most experiments will be abandoned because they won't find product-market fit. But #nostr feels so "fertile" that I'm convinced we'll get someplace(s) that will blow our socks off!
#grownostr
I don't think this refers to tweets/xeets, but to "community notes":
PO box number appropriate
My #Bitcoin thought of the day: abstraction killed the gold standard.
How does this relate to Bitcoin? For now, mere mortals can still use on-chain transactions semi-regularly. However, once the price goes up an order of magnitude (or two), transaction fees will likely become so high that very few will be able or willing to afford regular transactions on level 1.
This will be a dangerous transition for Bitcoin, because in this setting, fewer people will run their own nodes. You could argue that people will still need a node to go with their lightning node, but when opening/closing channels is very expensive, managing your own LN node will also take a big hit. As a result, most Bitcoin end users (all but the biggest players) will likely transact in custodied layer 2 or layer 3, i.e. several layers of abstraction removed from Bitcoin.
We should be mindful that abstraction was a key element in the failure of the gold standard. Physical gold became pieces of paper representing stored gold, which became pieces of paper printed at will; people adopted the abstraction of the pieces of paper over the years, and didn't notice the bait and switch when the time came.
Could the same thing happen to Bitcoin? It could if we are not careful, if people forget what Level 2/3 sats represent. Luckily, Bitcoin has the advantage of being much more easily auditable than gold. Nevertheless, auditABLE does not mean regularly and systematically auditED. Level 2/3 sats should always map to the base layer, and we should always demand easy verification of this by the end users.
Never forget layer 1!
Cheers #nostrplebs
looks like Liguria
Careful where you stick your nsec
Agreed, although I'm a bit concerned about the trend of "mind reading" AI. I know that such capabilities are limited so far, but a few years down the line it might be possible to scan private keys straight from our brains. We should anticipate that this becomes possible, and design ways of securing bitcoin that are immune to it.
Can a bubble be too big to pop?
If you think you understand Bitcoin, you don't understand Bitcoin
The Nostrovia podcast by nostr:npub1mygerccwqpzyh9pvp6pv44rskv40zutkfs38t0hqhkvnwlhagp6s3psn5p is
