my umbrel node has been online for 3 executive days (at least for whenever I check it), feels like an angel has arrived

What are you backed by?

#asknostr

Do you have a favourite go-to intro to Bitcoin article?

#bitcoin

Cut out negative people. You can find people that give good feedback without being a jerk.

What should a #bitcoin_based fund consist of?

Happy Independence Day for all those in the US…..and for all those worldwide seeking or preserving individual rights and freedoms by supporting #Bitcoin and #Nostr.

Artificially and criminaly inflating fees with ordinals bullshit creates a kind of inflation in Bitcoin.

An inflation where the Bitcoin moves from the legitimate owners and users of Bitcoin to those closest to the Bitcoin money printers.

In other words, Bitcoin continillionaires. Sound familiar..👎

On Bitcoin Adoption

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There's a significant divide in the Bitcoin community at present, revolving around the adoption narrative. How does Bitcoin achieve widespread adoption? What conditions must be met for it to be globally recognized as a reserve currency?

Two key narratives dominate the discourse. The first stems from venture capitalists (VCs), altcoin enthusiasts, and "Bitcoin moderates." Their argument posits that Bitcoin's path to mainstream adoption requires substantial marketing efforts. Although they differ in the extent to which this marketing involves altcoins, DeFi, NFTs, or ordinals, they fundamentally agree that Bitcoin requires promotion, and don't really care exactly what form this takes. According to this group, sufficient promotion will enable the average person to "understand" Bitcoin, paving the way for a sky high price (and maybe alt season!)

However, this narrative is flawed as it fails to cultivate genuine Bitcoin holders. Instead, it promotes a culture of reckless gambling. At best, people dabble, make losses, and hopefully learn a valuable lesson about speculative games. At worst, people become entrenched in gambling habits, fostering a community rife with rent-seekers and scammers. Unfortunately, the majority entering the 'crypto' space find themselves with thinner wallets, often swearing off the entire sector after being scammed or losing significant funds.

This first narrative gains traction primarily because it enhances the perceived importance of its proponents. If adoption depended on active promotion, then VCs, marketers, and "Bitcoin moderates" become the linchpins for Bitcoin's advancement. It's an appealing narrative as it confers them a sense of significance they don't possess. Indeed, the egos on some of these people show just how self-serving their narratives are.

By contrast, the second narrative stipulates that adoption necessitates an understanding of Bitcoin as sound money. Bitcoin adoption is thus seen as a journey demanding patience, persistence, and a deep understanding of its technology and economics. This path typically spans several years and cannot be comprehended through a brief podcast snippet. Long-term Bitcoin holders and staunch supporters often attest to the validity of this narrative.

Interestingly, even those initially involved with altcoins or scammy altcoins find that these ventures did little to aid their understanding of Bitcoin as money. Quite the opposite, these distractions often muddied the waters and made understanding Bitcoin that much harder.

For long-term Bitcoin holders, the path to understanding Bitcoin necessitated considerable intellectual effort, rigorous study, and even financial discomfort. A clear understanding of Bitcoin's status as sound money was born out of hard work, not marketing gimmicks.

In this second narrative, exposure to Bitcoin usually stems from financial hardship. Whether due to inflation, banking issues, or government actions, people turn to Bitcoin out of ideological belief or necessity. Consequently, Bitcoin adoption is less about a marketing blitz and more about disillusionment with the current system. As long as the existing financial infrastructure continues to fail people, we can anticipate Bitcoin's continued growth.

This perspective negates the need for 'professional' Bitcoin marketers or high-profile endorsements. The critical factor isn't the backing of Elon Musk or Snoop Dogg. Instead, it's about individuals recognizing the corrosive impact of inflation on their savings and seeking an alternative. Ordinals don't get people to hold Bitcoin long-term, a real understanding of money does.

Bitcoin adoption isn't a mere marketing exercise; it's a journey of understanding, borne out of necessity and disillusionment with the existing system.

About to start serving some meaty word salads, some oratory civeche, some spicey word tartare’s. Trying to describe this new thing. You ready? Whats the order?

Satellite Expansion Kit 📡🌐⚡️ Only at Sovereign Electronics

Note on Multusig Organisation Structures

In a 2 of 3 multisig (stak pact) with two of your friends you are giving away your bitcoin to the honour of the group… In a smart which you might design to inforce the same agreemen you must rely on an oracle or unknown thirdparty for arbitration… When you start this multisig or smart contract stak pact arrangement you really don’t know what it is or whats going to happen (obvs its hard to predict the future) and this means it is difficult to program a complex smart contract correctlly. Conversely with the multisig you can assume that it will be governed by natural law of which you have a lifetime of expereince and of which you can undersatnd more deeply as you get to know your multisig friends. In the multisig the natural law of the group can be dynamic and you don’t to make a significant prediction at the start.

I also don’t like iShares BTC ETF.

Once BlackRock takes a certain amount of supply they might want to control the narrative or even lobby for an ESG hard fork.

Be careful what you wish for.

More plebs worldwide hodling >>> BlackRock

#forthekids

#plebchain

#bitcoin