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Gavin Green
5018ff2c2eb1cc74915ce030245c3d087a1896930f0cc818e145a172f839133d
https://fountain.fm/show/jfZokPuWino6F91jSGYq
Replying to Avatar Guy Swann

BOOM đŸ”„đŸ«Ą

INTRODUCING the first episode of Guy’s Roundtable 🟠

Join me, Bitcoin Mechanic, nostr:npub1pldgrydvu3902v2sdy227ehfjuxqu7pkxufqklga0f0jvmccchtsw05nc9, and nostr:npub1ajv7m32k0cpgzha32qszsh304qusjvwwmavus0ttktzldms4xzusuftppj breaking down all of the latest news and events to recap the month in #Bitcoin.

We’ve seen more bear markets panic and more bull market insanity than any other roundtable you know.😎

What do you get when you mix knowledge, intuition, experience, sarcasm, and the most humble of the humblest?

Guy’s Roundtable

YouTube: [https://youtu.be/Wdh2ryDGKW0%5D(https://youtu.be/Wdh2ryDGKW0)

Fountain: [https://fountain.fm/episode/ZPN0IjyENUODoDx585ak%5D(https://fountain.fm/episode/ZPN0IjyENUODoDx585ak) nostr:note10x56n08vh6sfmwx300gylep4lw2luw3nk5h23ayylfyxum9g0mtswe9hh2

Just followed your podcast on #fountain. Can’t wait to hear this first episode for me

Just found out I won’t be flying KLM

"When I wrote The Mobile Wave, (2012) the observation was that software networks are dematerializing everything you could hold in your hand.

You went from taking photos on a Canon camera and storing them in a shoebox to Facebook and Instagram and the iPhone. It wasn't worth 10 times as much, it was worth 1000 times as much. The world's going to change.

These networks [are] going to..destroy 15,000 other companies competing with them because nobody in the history of the world could ever upgrade or ship a product for no variable cost to the entire planet for a nickel. And yet, that's what Google does. That's what Facebook does. That's what Apple does. And that's the part of Amazon that works well. The conclusion was to buy Apple, Amazon, Facebook, and Google.

I wrote the book. Nobody read it.

I took $50 million of my own money..and converted [it] into $500 million. It made me conclude [that] if you want to make money in the tech era, you find the dominant digital network, the one that's worth 100 billion, that's crushed everybody.

If you buy too soon, you might miss it. You might hit Blackberry, MySpace, or Yahoo. But after it’s $100 billion, the market has decided. Apple is the winner, Google's the winner, Facebook's the winner, Amazon's the winner. I know it's pretty obvious.

Amazon was the winner in 2013 when it was trading at 300 bucks. It was funny! Everybody on Wall Street said what is this stupid company, they don't make any money. We don't buy into it. But you could have bought it.

You could buy all those things, and you would have got a 10x - 20x gain on it. You just wait until the 99% of the world that disagrees, that’s cynical, skeptical, and ignorant, ..as it gradually dawns on them that Google is an Information Network. Facebook is a social network, Apple is mobile network, Amazon is retail network.

It made me very successful as a personal investor, but my company didn't invest in it. 2020 came and I swore to myself that if I ever saw this again, I wasn't going to write a book, I was going to buy as much of that thing as I could personally, as much of that thing as I could corporately, and then I was just going to tweet about it."

—Michael Saylor

Everyone has an opinion, few put their money where their mouth is nostr:note1zcskw6gndmeda305un3p0y6wmzs2unqzyr0y7c494jqvhenwev7szw6s6p

And that’s what the kids said about their parents, who came home from WWII. Boring. Well, they had just come back from hell. And they went on to become known as the Greatest Generation. If Bitcoin is boring, that because it’s being compared to this fiat disaster, aka hell. I’m looking forward to be called the Greatest Generation 2.0 nostr:note1w34fvy2v6w0c5u2s6ydvqd7klt8ymsdxgvjjxpgwtjp6djxgk05qp73j8w

Posting a screenshot / pic is one thing. Sharing a url is more complicated. There are some workflows that are pretty universal and it’s a hassle to have to do it differently for each app

Simple, and yet highly effective. 😀 nostr:note13p7sh5m7mzlht3eshrp337jhhdn74rhm0zdvjuyakqx2lqafje5ss0s5nr

Why does iOS not recognize Damus or Primal as apps that you can share content to?

I don’t understand why Georgia, USA runs the power lines above ground. The sheer cost of maintaining the trees alongside the power lines, combined with the risk of trees damaging the lines n storms, just makes no sense. Why not run them underground? Cities in third world countries can do it. And it certainly is an eyesore.

I’m a guitar man myself, but the drumming in this track absolutely kill it. Just make the song. #hermano

https://open.spotify.com/track/3OyDQtpQ1FnphnGSVGA1lm?si=grVP3nPXTyeBpNcOb9yaVg

I’ve always loved music. But the kind that most of my friends did not like. A bit of heavier stuff. And the 1990 and 2000’s were the golden age of alt rock. A great time to be around. I hung on to new music trend and bands until I was in my 40’s but it’s safe to say that the rock space has been pretty dead for a number of year. Yes, I know old bands still release new material but that’s not the same thing. Now, funny you have Seether in your post. Absolute cracker band originating from South Africa (my home country). They were called Saron Gas back then. Fine Again is my favorite track of theirs.

Yup, mid-90’s I think. Pretty interesting, and same vibe as Lebowski

Replying to Avatar Guy Swann

Tether is not a CBDC.

It's literally a BDC

Tether is not a central bank, they don't issue notes of an independent monetary unit. They aren't associated with any govt. Tether is just a modern banknote with most of the same problems, risks, and trust issues. The difference being it is available to anyone with a smart phone without an account -- which is actually a significant improvement over the old garbage.

Tether is custodian issued digital banknotes. Literally in every use of those terms this is the accurate thing to call it. "Cash" has always just referred to banknotes issued that were redeemable in gold or at a bank that was a bearer asset. The difference with a stablecoin like Tether and physical cash is the oversight/surveillance that the institution has for the digital alternative. This is why ecash is actually the only thing that digitally shares basically all the characteristics of physical cash (txn privacy from issuer and bearer asset). Tether is far easier to freeze accounts and spy on what everyone is doing. Obviously why people want to label it "something bad."

My point is that the CBDC label is NOT accurate, and when we use words and labels arbitrarily, it desensitizes people to them. If people just become "whatever" about Tether (because if you don't use it, who cares), and everyone calls it a CBDC, then after a few years of this people are just going to think "CBDCs are fine, who cares?"

Calling everything we don't like a CBDC is a HUGE BENEFIT to actual CBDCs.

Bank digital currencies are not a problem. They will remain solvent as long as the "bank" does. They are a much better option than credit cards, and the option of being able to issue ecash is even better.

BDCs are certainly a far cry from the #Bitcoin sovereign world that we are building and have nothing to do with it, but they are ALSO a far cry from a genuine CBDC.

So please, stop using words that matter in a stupid and cheap way, because when we REALLY need them, you'll have sucked them of all of their power and meaning.

Well said, Guy. In fact nostr:npub1s5yq6wadwrxde4lhfs56gn64hwzuhnfa6r9mj476r5s4hkunzgzqrs6q7z had a great chat with the Tether guys on his latest #bitcoinfundamentals podcast. Very interesting to see how this helping people in the new world with massive inflation issues. It’s a stepping stone to Bitcoin adoption too.

Replying to Avatar gladstein

Here's my profile for Reason on Nostr and why it could very well change the world

Pasting a few paragraphs here, you can find the rest at the link

Feel free to spread far and wide 😉

*************

Can Nostr Make Twitter's Dreams Come True?

Twitter's founder says Nostr is “100 percent what we wanted”—an open, ownerless network

Alex Gladstein | 8.13.2024

Virtually everyone agrees that social media is broken. On Facebook, X, Instagram, and TikTok, people fear out-of-control algorithms, fake news, state actor censorship, and propaganda. Google and Meta collect vast troves of personal information on their users and receive hundreds of thousands of requests every year from governments around the world to access that data. YouTube has become arguably "the most powerful media platform in the history of humanity," yet its algorithm is an ever-changing black box to the creators that populate the platform with videos. During the pandemic, federal officials were in contact with every major social media platform, coercing them to remove content.

The problem is centralized control. We can't trust companies to run our primary communications infrastructure. Government regulation only makes matters worse because it creates new legal barriers to entering the industry, which protects incumbent players and stifles innovation.

What if there were an alternative, not owned by Elon Musk, Mark Zuckerberg, or the Chinese Communist Party? What if there were a way to control your own data to prevent companies from harvesting and monetizing it? What if you had granular control over what you see in your feed, with the freedom to choose your own algorithms? What if you owned your identity, which could be accessed seamlessly across different clients? That way, if you disapprove of the changes that Elon Musk brought to X, instead of closing your account you could take your handle and followers elsewhere.

That alternative exists. It's called "Notes and Other Stuff Transmitted by Relays"—or Nostr.

The Decentralized Solution

Invented by a pseudonymous programmer and overwhelmingly funded by grants from non-profit foundations, this decentralized, free, and open-source protocol has been quietly evolving for the past three years. Like bitcoin, Nostr is a community-run digital network highly resistant to censorship and corruption. It has 40,000 weekly active users and a growing ecosystem of clients and applications ranging from social media to long-form publishing to payments.

Nostr is only necessary because our existing internet is so broken.

Fifteen years ago, social media seemed destined to decentralize the world and give power back to the people. In 2009, we watched as Arab Spring activists used Twitter and Facebook to organize, coordinate, and help topple several long-standing dictatorships. The promise was that these new social platforms, designed by Silicon Valley entrepreneurs, could help liberate the masses.

It was intoxicating—but turned out to be a mirage. The Arab revolutions stalled out when brutal military regimes cracked down. These platforms became tools for spying and censoring their users. X and Facebook have helped journalists and human rights activists reach bigger audiences, but they haven't fulfilled their revolutionary promise.

Jack Dorsey's Shift from Bluesky to Nostr

This was a major theme at the 2024 Oslo Freedom Forum, which is put on annually by the Human Rights Foundation, where I serve as chief strategy officer. At this conference for democracy and human rights, Twitter co-founder Jack Dorsey told the audience that the problem was, actually, guys like him: The very fact that Twitter, now X, has a CEO makes it a single point of failure. Governments routinely pressured Dorsey to censor content; once the company's offices in India were raided. Dorsey says that under the new Musk regime X complies with whatever governments want.

The X network is proprietary. Known as a "silo," this construct traps a user's identity, followers, and data. X also has the power to evict anyone from the platform and delete what they've written. Several years ago, when he was still running the company, Dorsey became convinced that Twitter should become an application instead, where users could post content to an open, ownerless network. This would make it similar to how bitcoin works, where you use an application called a wallet to interact with the network, but the network itself is neutral and open.

Building a non-proprietary architecture was Dorsey's original vision for Twitter, but over time the need to maximize revenue to build a business and serve shareholders undermined that goal.

Nevertheless, in 2021, Dorsey encouraged the creation of Bluesky—an initiative bootstrapped in-house to create that open neutral base layer. But after Musk bought the company, the managers of Bluesky were afraid they would run out of money and started raising funds from venture capitalists, which undermined the vision of building an open platform. Dorsey grew disenchanted and left the Bluesky board.

At the conference in Oslo, Dorsey explained what happened next:

I asked a question: What open source initiatives should I be funding that would be helpful to the public internet? And people kept tweeting at me that I should be looking at Nostr. I found the GitHub that described it and it was 100 percent what we wanted from Bluesky, but it wasn't developed from a company. It was completely independent. Its paper diagnosed every single problem we saw and had. But did it in a grassroots and dead simple way, that felt like the early Twitter where any developer could get on and really feel it.

Escaping the 'Golden Prisons'

Nostr was created in 2020 by the pseudonymous Brazilian programmer fiatjaf, who describes it as "the simplest open protocol that is able to create a censorship-resistant global 'social' network once and for all."

Though nobody is in charge, Nostr works as promised and is thriving. "It is the solution we've all been looking for," says Miljan Braticevic, founder of Primal, one of the two dozen plus clients now available for the Nostr protocol. "Nostr is not a Twitter competitor or a Mastodon competitor. This is the biggest misconception at the moment. That's just the tip of the iceberg. Nostr is nothing less than the foundation for the new internet. Meaning almost every conceivable app we have today will be built on Nostr."

Braticevic's prediction is echoed by at least a dozen other prominent developers. Martti Malmi, the first coder to work on bitcoin alongside Satoshi Nakamoto, is now a Nostr developer. In a recent talk, he said he had started to work on similar ideas around decentralized identity in 2019, only to come close to giving up. But then he found fiatjaf's invention, which he called a "godsend."

"Bitcoin is freedom of money, and Nostr is freedom of everything else," Malmi said. "I was there" in the earliest days of bitcoin, "and Nostr is even more intense."

For something that could be world-changing, Nostr is quite simple. To join, you sign up with a mobile or desktop client, which helps you to create a public and private key pair. The public key (or "npub") is used as your identifier, and you share it with clients and other users so that people can find your posts or pay you for your content. The private key ("nsec") is hidden by the user, stored safely (just like a bitcoin seed phrase), and is your way to log in to different services. Unlike platforms like X or Facebook, no other information is required to set up and use Nostr.

This gives users a powerful range of sovereignty. You can use a client, for example, that has strong hate speech controls. Or you can choose one that doesn't have any at all. You can use a client with aggressive algorithms, just like the ones X uses today. Or you can use one without any algorithm at all. Today, when you log in to an app like Primal, you can sort your feed by what's the latest, by what's most popular, by what's most zapped, or by customized keywords. It's up to you.

Last month, the macroeconomist Lyn Alden, author of one of the best books on bitcoin, published a long essay about Nostr's potential:

[Nostr] is a simple set of foundational building blocks that, if widely adopted, could gradually reshape "the Web" as we know it. Instead of a separate set of siloed social ecosystems, we could gravitate toward a more interoperable set of ecosystems, with more of the power dispersed to the content creators and to the audience, and away from the middlemen corporations.

The Nostr network is constructed like a spider web that can morph and regenerate, making it almost impossible to censor. When you set up a client on Nostr (perhaps, Primal or Damus on iOS; Amethyst on Android; or Coracle on the web), you choose from a variety of relays to connect to. This architecture ensures no single point of failure: If you are connected to seven or eight relays, and half of them choose to censor posts, your feed remains censorship-free, as your app will display the net sum of everything broadcast from each relay. If the Chinese government decides to attack your relays—as it did in 2023 when Damus launched on the Hong Kong and mainland app store—then more can be spun up. "The enemy," said Damus creator Will Casarin, "is too numerous."

Prominent bitcoin developer and educator Gigi—who switched to Nostr and deleted his X account—says that what helped it become so resilient is that it has zero exit cost. If the Chinese Communist Party bans YouTube, its domestic users lose everything. There's no way to get back their profiles and followers. The same is true if a user voluntarily closes an account.

Gigi calls these corporate silos "golden prisons" with no escape. Nostr's spider-like architecture makes escaping easy. If one client goes down, or you fail to connect to one relay, you just find another client or connect to another relay. You keep your posts, photos, preferences, contacts, and even algorithms of choice. If you use X, you are an X creator. But if you use Primal, you aren't a Primal creator, you are a Nostr creator.

https://reason.com/2024/08/13/can-nostr-make-twitters-dreams-come-true/

Great article Alex. And a HUGE part of this potential, as pointed out by the mighty nostr:npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83a , is the way you can use this for payments, making your lightning wallet similar to Venmo. Simply search for the person you need to pay, and zap them some sats. This is gonna be incredible!