I’ve never understood why any group of people needs their own commemorative month.

Is it not enough to just be who you are, every day?

Summarizing my thoughts on ecash

For some reason this ecash trend seems to be gaining steam instead of going away, so I'll try my best to detail my thoughts on ecash into one post.

1. The incentives are broken

Ecash finds itself between a rock and a hard place. For users to trust the mint, they need to know that the people behind the mint are trustworthy. If the people running the mint reveal their identities (or even just nyms), they're a trivial target for regulators and law enforcement as it's clear a mint is an MSB.

If the people behind a mint don't reveal their identities or nyms, users of that mint are subject to trivial rug pulls with no recourse. Which do you prefer as a user? Mint operator rug pulls or government rug pulls?

If a mint had been targeted like Samourai Wallet was, instead of just a potential privacy loss, all users would have lost all of their Bitcoin.

2. Ecash is not "self-custodial"

For some reason this concept of ecash being "self-custodial" is a thing, merely because the tokens themselves are self-custodied (and require proper backups of seed phrases etc.) While the lines get a bit weird, it's important to separate two things:

1. The asset people want is Bitcoin, not ecash tokens.

2. The asset people give up custody on is Bitcoin.

The ecash tokens themselves are completely worthless IOUs without the Bitcoin behind them, so even if I can take custody of my ecash tokens, I have 100% given up custody of my sats to a third-party.

Because of this, talking about ecash as self-custodial is disingenuous -- no one wants empty IOUs, they want Bitcoin. When they use ecash they do not have custody of their Bitcoin.

3. Ecash still requires all of the hurdles of Bitcoin self-custody

The hardest hurdle for many people to adopting Bitcoin is the simple first step -- writing down 12 words and making sure not to lose them. With ecash you still have this single greatest barrier of entry as you must backup a seed phrase or secret in order to restore your ecash tokens.

4. There is no incentive for custodians to implement ecash

While a custodian could switch to ecash out of the goodness of their heart, the incentives are broken for custodians. Not only does ecash harm the UX their users are used to (not having to store a secret seed phrase), it also introduces additional infrastructure complexity. Instead of just running a database, now they have to run additional mint software to provide their users with tokens, and handle support cases where users lose their tokens.

In theory a custodian could just also store the seed phrase for their users, but then have we actually improved on custodians at all? They even have custody of the ecash tokens in that case.

5. Custody is a line that cannot be crossed

The core of what makes Bitcoin unique is that we can actually take custody of it ourselves, gaining immense freedom and self-sovereignty through a bit of personal responsibility. Even though I am a massive proponent of building better privacy tools, sacrificing custody to get better privacy is a non-option for me.

Surely we can do better and build privacy tools on top of Bitcoin (or directly into Bitcoin's consensus layer) that allow us to have both privacy and self-sovereignty via self-custody.

I will not give up custody of my Bitcoin, no matter what, and you shouldn't either. "Better custodians" are just custodians with extra steps, and still strip us of self-sovereignty and thus freedom.

6. Time is a more scarce resource than even Bitcoin

Even though I have been very outspoken on what I view as a pointless venture, I am not here to stop anyone from building what they enjoy in the space. Devs working on ecash are free to do so as of course I have no control over them, though I fear that time spent on improving custodians is time that we will not get back. It's clear that the US gov and many in the EU are seeking to ramp up their attacks on Bitcoin privacy and self-custody, and our time to build tools to route around them is growing shorter and shorter.

P.S. - None of what I write is a direct attack on any ecash dev, and I have immense respect and personal relationships with most of the people working on this stuff. Respect for an individual doesn't have to mean I agree with them on every avenue they pursue.

Potatoes in new beds emerging. This is a pic of two of our 4 beds, 100 row feet. This amount is way more than enough for us to eat. This year I was patient. Every year I plant potatoes too early and they have to be harvested in late August when it is still too warm out. This year I hope to harvest at the end of September when my storage conditions are cool enough to keep the potatoes in good condition till spring. I don’t have a basement and my soil is too wet for a root cellar so I use my unheated pole barn.

#potatoes #gardenstr #homestead

Forgot the damned photo 🙄😂 nostr:note1exjj0mgpnhggernxcd8qkh7xrtzj2w7zjdmla39v02a87a6zeu2scvdsqn

In England, it is not uncommon to see "wavy" brick walls. Interestingly, the design uses fewer bricks than a straight wall. A straight wall that is just one brick thick is not sturdy enough to stand alone & can be easily toppled, so they generally have a thickness of at least two or more layers of bricks, & are also reinforced at regular intervals with vertical posts serving as buttresses. But a wavy "one-brick" wall stands just fine on its own due to the arch support provided by its shape, which combines both wall & buttress. Such a structure is called a "crinkle crankle wall" "the Old English version of "zig zag."

In England, it is not uncommon to see "wavy" brick walls. Interestingly, the design uses fewer bricks than a straight wall. A straight wall that is just one brick thick is not sturdy enough to stand alone & can be easily toppled, so they generally have a thickness of at least two or more layers of bricks, & are also reinforced at regular intervals with vertical posts serving as buttresses. But a wavy "one-brick" wall stands just fine on its own due to the arch support provided by its shape, which combines both wall & buttress. Such a structure is called a "crinkle crankle wall" "the Old English version of "zig zag."

Is that RFK

I don’t watch tv/series or movies anymore. I have been reading for at least an hour every day for two years now.

I’ve learned a lot more these last years reading than I ever would’ve by watching moving pictures. (I listen to Moving Pictures instead.)

What’s your favorite book you’ve read recently?

#bookstr #grownostr #asknostr

23 years of TOOL Lateralus, what’s your favorite track?

Mine : Parabola

#toolband #nosrtart #nostrmusic

Good to know! My wife and I seriously talk fairly regularly about leaving the country.

I wrestle with it a lot actually.

It's handy, although in Ontario it barely keeps us getting by.

I get to see the best sunsets.

#photography #canon #grownostr #photostr

Are you a patriot of your country?

Cool piece!! First time seeing a wooden watch.