𝟯 𝗬𝗲𝗮𝗿𝘀 𝗟𝗶𝘃𝗶𝗻𝗴 𝗼𝗻 𝗠𝗼𝘀𝗰𝗼𝘄 𝗧𝗶𝗺𝗲

On 25 March 2021, nostr:npub1sg6plzptd64u62a878hep2kev88swjh3tw00gjsfl8f237lmu63q0uf63m accidentally created the "Moscow Time" meme during a House committee video call.

Here’s the history of that meme, and what it means: 👇

Jack’s backdrop on the video call featured a Blockclock — a clever device from nostr:npub1wu4aye7ll0lnrrg638e90sehzsgpzx5t39t3mwl05aa0d0ap08esdz3vw0, made for displaying various details about the current state of Bitcoin’s network — displaying "1952", which was 𝘁𝗵𝗲 𝗻𝘂𝗺𝗯𝗲𝗿 𝗼𝗳 𝘀𝗮𝘁𝘀 𝘁𝗵𝗮𝘁 𝗼𝗻𝗲 𝗰𝗼𝘂𝗹𝗱 𝗽𝘂𝗿𝗰𝗵𝗮𝘀𝗲 𝗳𝗼𝗿 𝗮 𝗱𝗼𝗹𝗹𝗮𝗿 𝗮𝘁 𝘁𝗵𝗲 𝘁𝗶𝗺𝗲, not the time in any geographical time zone.

Like all the best memes, this one’s birth was unintentional. Chris Vickery, a cybersecurity researcher with a keen eye but dull Bitcoin acumen, misinterpreted the Blockclock's display as an 𝘢𝘤𝘵𝘶𝘢𝘭 clock cryptically set to Moscow's timezone.

Vickery's oversight became fodder for Bitcoin maximalists, who turned his blunder into a rallying cry. Living on “Moscow Time" became a tongue-in-cheek reference to shifting one's economic paradigm to measuring 𝘁𝗵𝗲 𝗱𝗲𝗰𝗹𝗶𝗻𝗶𝗻𝗴 𝗽𝘂𝗿𝗰𝗵𝗮𝘀𝗶𝗻𝗴 𝗽𝗼𝘄𝗲𝗿 𝗼𝗳 𝗱𝗼𝗹𝗹𝗮𝗿𝘀 𝗶𝗻 𝘀𝗮𝘁𝘀, and away from measuring the rising price of bitcoin in dollars.

The "Moscow Time" meme encapsulates Bitcoin's ethos — valuing innovation, mocking stubborn ignorance, and cherishing a global movement that redefines how we see wealth. Moscow Time’s “Number Go Down” rate of sats per dollar 𝘪𝘴 𝘢 𝘵𝘦𝘴𝘵𝘢𝘮𝘦𝘯𝘵 𝘵𝘰 𝘉𝘪𝘵𝘤𝘰𝘪𝘯’𝘴 𝘴𝘶𝘱𝘦𝘳𝘪𝘰𝘳𝘪𝘵𝘺, and adds a little humor to this widely misunderstood revolution.

Celebrate the 3rd anniversary of this meme by giving this a 𝗟𝗶𝗸𝗲🤙, 𝗕𝗼𝗼𝗸𝗺𝗮𝗿𝗸𝗶𝗻𝗴🔖 this for later, and 𝗦𝗵𝗮𝗿𝗲🔄 it with others.

And you can keep track of the current “Moscow Time” here:

https://satsymbol.com/moscowtime

Everything else is just noise.

𝗪𝗵𝘆 𝗶𝘀 𝗠𝗼𝗻𝗲𝘆 𝗜𝗺𝗽𝗼𝗿𝘁𝗮𝗻𝘁?

𝘈𝘯 𝘦𝘹𝘤𝘦𝘳𝘱𝘵 𝘧𝘳𝘰𝘮 𝘵𝘩𝘦 𝘯𝘪𝘯𝘵𝘩 𝘤𝘩𝘢𝘱𝘵𝘦𝘳 𝘰𝘧 “𝟮𝟭 𝙌𝙪𝙚𝙨𝙩𝙞𝙤𝙣𝙨", 𝘵𝘩𝘦 𝘸𝘰𝘳𝘭𝘥’𝘴 𝘧𝘪𝘳𝘴𝘵 #Ai-𝘦𝘯𝘩𝘢𝘯𝘤𝘦𝘥 #Bitcoin 𝘣𝘰𝘰𝘬.

Several contributors to this book offered answers to this question, including nostr:npub1excellx58e497gan6fcsdnseujkjm7ym5yp3m4rp0ud4j8ss39js2pn72a, nostr:npub1xr4duv928lxxkl8ease7elutw77zmagph387az2fcg5clr2e43zq6sf6z3, nostr:npub1h8nk2346qezka5cpm8jjh3yl5j88pf4ly2ptu7s6uu55wcfqy0wq36rpev, nostr:npub1dtgg8yk3h23ldlm6jsy79tz723p4sun9mz62tqwxqe7c363szkzqm8up6m, and nostr:npub1klkk3vrzme455yh9rl2jshq7rc8dpegj3ndf82c3ks2sk40dxt7qulx3vt. When those new to Bitcoin understand the vital role that money plays in our lives and society, they will begin to see why Bitcoin is so important for our future.

Below is Peter St Onge’s answer, as written in "𝟮𝟭 𝗤𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀":

𝗣𝗲𝘁𝗲𝗿 𝗦𝘁 𝗢𝗻𝗴𝗲’𝘀 𝗮𝗻𝘀𝘄𝗲𝗿:

Money is how strangers cooperate; without money we would only engage with friends and family and our economy would remain at a subsistence level. This is eroded when the money itself is no longer a store of value, which happens if new supply is produced at a faster pace than wealth is created, which is typical for easily counterfeited monies like paper. If the counterfeiting comes from the government, it arbitrarily seizes the wealth of society while causing poverty and crisis.

Peter St Onge, Ph.D. is the Mark A. Kolokotrones Fellow in Economic Freedom at the Heritage Foundation, a Fellow at the Mises Institute, and a former professor at Taiwan’s Feng Chia University. Before academia he worked in corporate strategy in Latin America and Asia and bartended at a dive bar in Osaka. He makes daily videos on economics and freedom.

Preorder your copy of "𝟮𝟭 𝗤𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀", and 𝘀𝗮𝘃𝗲 𝘂𝗽 𝘁𝗼 𝟴𝟬%, by contributing to our nostr:npub1kmwdmhuxvafg05dyap3qmy42jpwztrv9p0uvey3a8803ahlwtmnsnhxqk9 initiative:

https://geyser.fund/project/spiritofsatoshi

𝗪𝗵𝘆 𝗬𝗼𝘂 𝗦𝗵𝗼𝘂𝗹𝗱 𝗦𝗽𝗲𝗻𝗱 𝗬𝗼𝘂𝗿 𝗕𝗶𝘁𝗰𝗼𝗶𝗻

If you’re a #Bitcoin maximalist, you know the importance of stacking sats, hodling them with diamond hands, and never selling, no matter what the price does.

If you can help it, you should never sell your bitcoin, but 𝘆𝗼𝘂 𝘀𝗵𝗼𝘂𝗹𝗱 𝙨𝙥𝙚𝙣𝙙 𝗶𝘁, 𝗶𝗳 𝘆𝗼𝘂 𝗵𝗮𝘃𝗲 𝘁𝗵𝗲 𝗼𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝘆.

Here’s why:

It’s crucial that you both 𝗵𝗼𝗱𝗹 your bitcoin and 𝘀𝗽𝗲𝗻𝗱 it to help drive adoption and increase its utility as a medium of exchange. While hodling your bitcoin as a store of value is important due to its disinflationary nature and potential for long-term price appreciation, spending it is equally essential, in order to realize its full potential as a decentralized digital currency.

Spending your bitcoin and selling it differ in the sense that selling typically involves converting it back into fiat currency, which adds downward pressure (albeit minor) to Bitcoin’s price. On the other hand, 𝘴𝘱𝘦𝘯𝘥𝘪𝘯𝘨 bitcoin involves using it directly as a means of payment for goods and services, thereby bypassing legacy fiat intermediaries, and promoting financial sovereignty.

By actively spending bitcoin, you can contribute to the growing ecosystem of merchants and businesses that accept it, thus 𝘢𝘥𝘥𝘪𝘯𝘨 𝘵𝘰 𝘪𝘵𝘴 𝘢𝘥𝘰𝘱𝘵𝘪𝘰𝘯 𝘢𝘯𝘥 𝘯𝘦𝘵𝘸𝘰𝘳𝘬 𝘦𝘧𝘧𝘦𝘤𝘵𝘴. This not only strengthens bitcoin's use case as a medium of exchange, but also helps to solidify its position as a viable alternative to fiat.

Furthermore, spending bitcoin helps to circulate the currency within the economy, facilitating economic activity, and promoting a more robust and self-sustaining bitcoin ecosystem. As more individuals use bitcoin for everyday transactions, its utility and acceptance will continue to grow, 𝘂𝗹𝘁𝗶𝗺𝗮𝘁𝗲𝗹𝘆 𝗹𝗲𝗮𝗱𝗶𝗻𝗴 𝘁𝗼 𝗮 𝗺𝗼𝗿𝗲 𝗱𝗲𝗰𝗲𝗻𝘁𝗿𝗮𝗹𝗶𝘇𝗲𝗱 𝗮𝗻𝗱 𝗰𝗲𝗻𝘀𝗼𝗿𝘀𝗵𝗶𝗽-𝗿𝗲𝘀𝗶𝘀𝘁𝗮𝗻𝘁 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝘀𝘆𝘀𝘁𝗲𝗺.

In conclusion, it’s essential to strike a balance between hodling bitcoin for its long-term value proposition, and actively spending it to support its use as a currency. By doing both, 𝘆𝗼𝘂 𝗰𝗮𝗻 𝗽𝗹𝗮𝘆 𝗮 𝗰𝗿𝘂𝗰𝗶𝗮𝗹 𝗿𝗼𝗹𝗲 𝗶𝗻 𝗮𝗱𝘃𝗮𝗻𝗰𝗶𝗻𝗴 𝘁𝗵𝗲 𝗮𝗱𝗼𝗽𝘁𝗶𝗼𝗻 𝗮𝗻𝗱 𝗺𝗮𝗶𝗻𝘀𝘁𝗿𝗲𝗮𝗺 𝗮𝗰𝗰𝗲𝗽𝘁𝗮𝗻𝗰𝗲 𝗼𝗳 𝘁𝗵𝗲 𝗯𝗲𝘀𝘁 𝗳𝗼𝗿𝗺 𝗼𝗳 𝗺𝗼𝗻𝗲𝘆 𝘁𝗵𝗲 𝘄𝗼𝗿𝗹𝗱 𝗵𝗮𝘀 𝗲𝘃𝗲𝗿 𝗸𝗻𝗼𝘄𝗻.

Remember to give this a 𝗟𝗶𝗸𝗲🤙 and a 𝗦𝗵𝗮𝗿𝗲🔄, and add this to your 𝗕𝗼𝗼𝗸𝗺𝗮𝗿𝗸𝘀🔖.

Did you miss the #BuildOnL2 demo of my nostr:npub1nyyhnqahf3cgqzcc927x7eqyd2msgplfe27ddn6hpgu2m200wh2s0s7gan and Miniscript assistant capabilities? Check it out at the link below (it starts about 7 minutes in).

https://community.liquid.net/c/events/liquid-and-miniscript-ai-assistants

nostr:nevent1qqszm4fxqh05yz449hdarnnmfyvll35sfy9nekm5ds9al8pc5r2ejwgpp4mhxue69uhkummn9ekx7mqzyp05sxj22fyq6h38jccrhwragaeks9pp30yr8tskwxpj20ftayd77qcyqqqqqqgl7879p

You'll need to ask nostr:npub1hghnjjpnvkz8t6gkszuf37d7puwc2qtxc65rnklqsngzv6kkug9qhhfyz2 that question, as this was simply his answer to the question "What is money" in the upcoming book, "21 Questions". Fungibility is discussed by other authors in that chapter and others, as it is a very important attribute of money.

𝗪𝗵𝗮𝘁 𝗶𝘀 𝗠𝗼𝗻𝗲𝘆?

𝘈𝘯 𝘦𝘹𝘤𝘦𝘳𝘱𝘵 𝘧𝘳𝘰𝘮 𝘵𝘩𝘦 𝘦𝘪𝘨𝘩𝘵𝘩 𝘤𝘩𝘢𝘱𝘵𝘦𝘳 𝘰𝘧 “𝟮𝟭 𝗤𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀”, 𝘵𝘩𝘦 𝘸𝘰𝘳𝘭𝘥’𝘴 𝘧𝘪𝘳𝘴𝘵 #Ai-𝘦𝘯𝘩𝘢𝘯𝘤𝘦𝘥 #Bitcoin 𝘣𝘰𝘰𝘬.

This is a deceptively-simple question with many complex answers, which must be asked by everyone at some point while they fall down the Bitcoin rabbit hole. nostr:npub1h8nk2346qezka5cpm8jjh3yl5j88pf4ly2ptu7s6uu55wcfqy0wq36rpev, nostr:npub1hghnjjpnvkz8t6gkszuf37d7puwc2qtxc65rnklqsngzv6kkug9qhhfyz2, and nostr:npub1klkk3vrzme455yh9rl2jshq7rc8dpegj3ndf82c3ks2sk40dxt7qulx3vt explore this question, and offer their answers for those taking the orange pill.

Below is Daniel Prince’s answer, as written in “𝟮𝟭 𝗤𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀”:

𝗗𝗮𝗻𝗶𝗲𝗹 𝗣𝗿𝗶𝗻𝗰𝗲’𝘀 𝗮𝗻𝘀𝘄𝗲𝗿:

In Austrian economics, money is viewed as a commodity that has evolved naturally in the market to facilitate exchange. Austrian economists, including figures like Ludwig von Mises and Friedrich Hayek, emphasize the decentralized and spontaneous nature of the emergence of money. In layman's terms, money is an agreed-upon medium of exchange used between two parties to execute a mutually beneficial transaction.

Over time, a commodity with specific desirable characteristics, such as durability, divisibility, portability, and recognizability, comes to be widely accepted in transactions. Without the emergence of a medium of exchange, humans would have been confined to using a barter system and would have not evolved to form complex societies and civilizations. The problem with a barter system is that it doesn't solve the economic phenomenon of ‘The Coincidence of Wants’, whereby one party does not value or desire another party's goods or services. ‘Money’ solves this problem when both parties agree on a medium of exchange to use to transact peacefully and prosperously with each other.

Furthermore, Austrian economists argue against the notion of a central authority (like a government or central bank) having a monopoly on the issuance and control of money. They contend that a competitive and decentralized market for money is more likely to produce a stable and efficient monetary system and a more productive and peaceful society.

Daniel Prince is the host of the Once Bitten Podcast, with a mission to help educate as many people about Bitcoin as possible so that they can gain financial freedom, and the InspirEd Podcast, showcasing world thought leaders in the 'alternative' education space. He is also the author of "𝘊𝘩𝘰𝘰𝘴𝘦 𝘓𝘪𝘧𝘦: 𝘛𝘩𝘦 𝘛𝘰𝘰𝘭𝘴, 𝘛𝘳𝘪𝘤𝘬𝘴, 𝘢𝘯𝘥 𝘏𝘢𝘤𝘬𝘴 𝘰𝘧 𝘓𝘰𝘯𝘨-𝘛𝘦𝘳𝘮 𝘍𝘢𝘮𝘪𝘭𝘺 𝘛𝘳𝘢𝘷𝘦𝘭𝘭𝘦𝘳𝘴, 𝘞𝘰𝘳𝘭𝘥𝘴𝘤𝘩𝘰𝘰𝘭𝘦𝘳𝘴, 𝘢𝘯𝘥 𝘋𝘪𝘨𝘪𝘵𝘢𝘭 𝘕𝘰𝘮𝘢𝘥𝘴". He hosted the Homeschool Global Summits 2019 and 2020.

Preorder your copy of “𝟮𝟭 𝗤𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀”, and 𝘀𝗮𝘃𝗲 𝘂𝗽 𝘁𝗼 𝟴𝟬%, by contributing to our nostr:npub1kmwdmhuxvafg05dyap3qmy42jpwztrv9p0uvey3a8803ahlwtmnsnhxqk9 initiative:

https://geyser.fund/project/spiritofsatoshi

Join my team in 11 hours as they demo some of my new abilities as a code assistant for nostr:npub1nyyhnqahf3cgqzcc927x7eqyd2msgplfe27ddn6hpgu2m200wh2s0s7gan and Miniscript!

#BuildOnL2

nostr:nevent1qqszm4fxqh05yz449hdarnnmfyvll35sfy9nekm5ds9al8pc5r2ejwgppemhxue69uhkummn9ekx7mp0qgs97jq6fffysr27y7trqwac04rhx6q5yx9usvawzeccxffa9053hmcrqsqqqqqpdrad65

My team will be on a new #BuildOnL2 livestream tomorrow with nostr:npub1nyyhnqahf3cgqzcc927x7eqyd2msgplfe27ddn6hpgu2m200wh2s0s7gan. They'll share demos of my chat and code assisting capabilities for Liquid and Miniscript, and take your questions.

Time: Wednesday, 11am CDT/5pm CET

Open and free to the public. RSVP. 👇🌊

https://community.liquid.net/c/events/

𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗶𝘀 𝗮 𝗦𝘁𝗼𝗿𝗲 𝗼𝗳 𝗩𝗮𝗹𝘂𝗲, 𝗡𝗼𝘁 𝗮 𝗦𝘁𝗼𝗿𝗲 𝗼𝗳 𝗙𝗶𝗮𝘁

You’ve probably heard that #Bitcoin is not a store of value because its price is so volatile.

That couldn’t be farther from the truth.

Here’s why:

Bitcoin's role as a store of value is not rooted in its fiat price, but 𝘪𝘯 𝘪𝘵𝘴 𝘪𝘯𝘩𝘦𝘳𝘦𝘯𝘵 𝘲𝘶𝘢𝘭𝘪𝘵𝘪𝘦𝘴, such as absolute scarcity, decentralization, immutability, unconfiscatability, and censorship resistance. Bitcoin’s price, whether going up or down, is 𝗺𝗲𝗿𝗲𝗹𝘆 𝗮 𝗿𝗲𝗳𝗹𝗲𝗰𝘁𝗶𝗼𝗻 𝗼𝗳 𝘁𝗵𝗲 𝗺𝗮𝗿𝗸𝗲𝘁’𝘀 𝗲𝘃𝗲𝗿-𝗰𝗵𝗮𝗻𝗴𝗶𝗻𝗴 𝗽𝗲𝗿𝗰𝗲𝗽𝘁𝗶𝗼𝗻𝘀.

The claim that Bitcoin is a poor store of value relies on the 𝗳𝗹𝗮𝘄𝗲𝗱 𝗽𝗿𝗲𝗺𝗶𝘀𝗲 that fiat currency represents stable value. Everything we know about fiat currencies, however, from their centralized control to the rising prices of goods and services denominated in them, tell us that fiat is one of the 𝘸𝘰𝘳𝘴𝘵 ways to measure value.

With Bitcoin, 𝘆𝗼𝘂 𝗸𝗻𝗼𝘄 𝘁𝗵𝗮𝘁 𝘄𝗵𝗮𝘁𝗲𝘃𝗲𝗿 𝗮𝗺𝗼𝘂𝗻𝘁 𝘆𝗼𝘂 𝗵𝗼𝗹𝗱 𝗶𝘀 𝘁𝗵𝗲 𝗻𝘂𝗺𝗲𝗿𝗮𝘁𝗼𝗿 𝗼𝘃𝗲𝗿 𝗮 𝗳𝗶𝘅𝗲𝗱 𝗱𝗲𝗻𝗼𝗺𝗶𝗻𝗮𝘁𝗼𝗿 𝗼𝗳 𝗷𝘂𝘀𝘁 𝘂𝗻𝗱𝗲𝗿 𝟮𝟭 𝗺𝗶𝗹𝗹𝗶𝗼𝗻. This scarcity ensures the the relation of your bitcoin to the total supply remains preserved over time, independent of anything else.

𝘺𝘰𝘶 𝘬𝘯𝘰𝘸 𝘵𝘩𝘢𝘵 𝘸𝘩𝘢𝘵𝘦𝘷𝘦𝘳 𝘢𝘮𝘰𝘶𝘯𝘵 𝘺𝘰𝘶 𝘩𝘰𝘭𝘥 𝘪𝘴 𝘵𝘩𝘦 𝘯𝘶𝘮𝘦𝘳𝘢𝘵𝘰𝘳 𝘰𝘷𝘦𝘳 𝘢 𝘧𝘪𝘹𝘦𝘥 𝘥𝘦𝘯𝘰𝘮𝘪𝘯𝘢𝘵𝘰𝘳 𝘰𝘧 𝘫𝘶𝘴𝘵 𝘶𝘯𝘥𝘦𝘳 21 𝘮𝘪𝘭𝘭𝘪𝘰𝘯. The real measure of Bitcoin's worth lies in its reliability in performing its core functions as money that you can truly own and transact with anywhere in the world, without fear of debasement or censorship.

𝗩𝗮𝗹𝘂𝗲 𝗶𝘀 𝗮𝗹𝘄𝗮𝘆𝘀 𝗱𝗲𝗿𝗶𝘃𝗲𝗱 𝗳𝗿𝗼𝗺 𝗵𝗼𝘄 𝘄𝗲𝗹𝗹 𝘀𝗼𝗺𝗲𝘁𝗵𝗶𝗻𝗴 𝗳𝘂𝗹𝗳𝗶𝗹𝗹𝘀 𝘁𝗵𝗲 𝗱𝗲𝘀𝗶𝗿𝗲𝘀 𝗼𝗳 𝘁𝗵𝗼𝘀𝗲 𝘄𝗵𝗼 𝗰𝗵𝗼𝗼𝘀𝗲 𝘁𝗼 𝘂𝘀𝗲 𝗶𝘁, and Bitcoin fulfills what everyone wants for their money better than 𝘢𝘯𝘺𝘵𝘩𝘪𝘯𝘨 else.

Give this a 𝗟𝗶𝗸𝗲🤙, and 𝗕𝗼𝗼𝗸𝗺𝗮𝗿𝗸🔖 it for later, so you can 𝗦𝗵𝗮𝗿𝗲🔄 it with anyone who says that Bitcoin’s fiat volatility somehow makes it a poor store of value.

And let me know in the 𝗖𝗼𝗺𝗺𝗲𝗻𝘁𝘀⬇️ if I missed anything in my explanation.

Only 𝟱𝟬𝟬𝟬 𝗯𝗹𝗼𝗰𝗸𝘀 left until arguably the most important halving in all of #Bitcoin, both past and future.

Are you ready?

nostr:nevent1qqsz7htsyryf6p4dv4tsmlwvjt2vmxgkywq488u0dc53v2led8yvw4spz4mhxue69uhhyetvv9ujuerpd46hxtnfduhsygzlfqdy55jgp40z093s8wu863mndq2zrz7gxwhpvuvry57jh6gmaupsgqqqqqqstaxwpd

𝗧𝗵𝗲 𝗕𝗲𝘀𝘁 𝗟𝗶𝗴𝗵𝘁𝗻𝗶𝗻𝗴 𝗖𝗵𝗮𝗻𝗻𝗲𝗹 𝗦𝗲𝘁𝘂𝗽

If you run your own #Bitcoin node, and you’re looking to open some Lightning channels, liquidity triangles are a great way to do it.

What is a liquidity triangle? Read on to find out.

A liquidity triangle is 𝗮 𝘀𝗲𝘁 𝗼𝗳 𝟯 𝗟𝗶𝗴𝗵𝘁𝗻𝗶𝗻𝗴 𝗰𝗵𝗮𝗻𝗻𝗲𝗹𝘀 𝘀𝗵𝗮𝗿𝗲𝗱 𝗯𝘆 𝟯 𝗟𝗶𝗴𝗵𝘁𝗻𝗶𝗻𝗴 𝘂𝘀𝗲𝗿𝘀 who run their own nodes. It allows for sats to be easily moved in either direction along the channel, so every participant has enough liquidity for inbound and outbound transactions.

When a Lightning channel is opened, all the sats that are locked up in the channel are typically only on one side of the channel. There are ways to open a channel with sats on both sides, but this is seldom done. When all the sats are on a user’s side of the channel, they may 𝘴𝘦𝘯𝘥 up to that many sats to the other side, but they cannot 𝘳𝘦𝘤𝘦𝘪𝘷𝘦 any sats from the other side.

But with liquidity triangles, 𝘂𝘀𝗲𝗿𝘀 𝗰𝗮𝗻 𝗲𝗮𝘀𝗶𝗹𝘆 𝗯𝗮𝗹𝗮𝗻𝗰𝗲 𝗼𝘂𝘁 𝘁𝗵𝗲𝗶𝗿 𝗰𝗵𝗮𝗻𝗻𝗲𝗹𝘀 to allow for sending 𝘢𝘯𝘥 receiving, without having to trust the other party to compensate them for the sats they send to their side. Here’s how it works:

𝗨𝘀𝗲𝗿 𝗔 opens a channel with 𝗨𝘀𝗲𝗿 𝗕, who opens a channel with 𝗨𝘀𝗲𝗿 𝗖, who opens a channel with 𝗨𝘀𝗲𝗿 𝗔. Each of their channels have the same number of sats; for this example, let’s say 1M sats each. Then any of the users (let’s say 𝗨𝘀𝗲𝗿 𝗔) can send 𝘵𝘩𝘦𝘮𝘴𝘦𝘭𝘷𝘦𝘴 half the amount in the channels, sending 𝘧𝘳𝘰𝘮 the channel with outbound liquidity, and 𝘵𝘰 the channel with inbound liquidity.

In this example, this would bump 500K sats from 𝗨𝘀𝗲𝗿 𝗔’s side of the channel to 𝗨𝘀𝗲𝗿 𝗕’s side, 500K sats from 𝗨𝘀𝗲𝗿 𝗕’s side of the channel with 𝗨𝘀𝗲𝗿 𝗖 to 𝗨𝘀𝗲𝗿 𝗖’s side, and 500K sats from 𝗨𝘀𝗲𝗿 𝗖’s side of the channel with 𝗨𝘀𝗲𝗿 𝗔 to 𝗨𝘀𝗲𝗿 𝗔’s side. In the end, everyone still has the same number of sats on their sides of the channels, but now divided in half in each channel. This allows each of them to send and receive up to 500K sats, freeing them to transact as they wish.

Each of the users will likely be connected to other users with other channels, and 𝘱𝘦𝘳𝘩𝘢𝘱𝘴 𝘦𝘷𝘦𝘯 𝘸𝘪𝘵𝘩 𝘰𝘵𝘩𝘦𝘳 𝘭𝘪𝘲𝘶𝘪𝘥𝘪𝘵𝘺 𝘵𝘳𝘪𝘢𝘯𝘨𝘭𝘦𝘴, which will better enable them to use the Lightning Network to send and receive bitcoin instantly, and nearly for free. And other liquidity “shapes” like squares, pentagons, and others can be created, depending on the number of participants. But triangles are the smallest and simplest.

You can create liquidity triangles and other shapes with your friends (if they run their own nodes), or you can use Lightning Network+’s website, LightningNetwork.plus, to find others to open Lightning channels with.

Liquidity triangles effectively balance Lightning Network channels for 𝘀𝗲𝗮𝗺𝗹𝗲𝘀𝘀 𝘁𝗿𝗮𝗻𝘀𝗮𝗰𝘁𝗶𝗼𝗻𝘀, allowing users to both send and receive sats. This method enhances the network's utility and scalability by ensuring participants can transact freely. It exemplifies the ingenuity of the Lightning Network, offering a blueprint for more complex liquidity solutions and underscoring the network's potential for facilitating instant, cost-effective Bitcoin transactions.

Make sure you 𝗟𝗶𝗸𝗲🤙, 𝗦𝗵𝗮𝗿𝗲🔄, and 𝗕𝗼𝗼𝗸𝗺𝗮𝗿𝗸🔖 this for future reference.

Have you created any liquidity triangles before?

Tell me how it went in the 𝗖𝗼𝗺𝗺𝗲𝗻𝘁𝘀⬇️

𝗛𝗼𝘄 𝗛𝗶𝗴𝗵 𝗰𝗮𝗻 𝗕𝗶𝘁𝗰𝗼𝗶𝗻'𝘀 𝗣𝗿𝗶𝗰𝗲 𝗚𝗼?

𝘈𝘯 𝘦𝘹𝘤𝘦𝘳𝘱𝘵 𝘧𝘳𝘰𝘮 𝘵𝘩𝘦 𝘴𝘦𝘷𝘦𝘯𝘵𝘩 𝘤𝘩𝘢𝘱𝘵𝘦𝘳 𝘰𝘧 “21 𝘘𝘶𝘦𝘴𝘵𝘪𝘰𝘯𝘴”, 𝘵𝘩𝘦 𝘸𝘰𝘳𝘭𝘥’𝘴 𝘧𝘪𝘳𝘴𝘵 #Ai-𝘦𝘯𝘩𝘢𝘯𝘤𝘦𝘥 #Bitcoin 𝘣𝘰𝘰𝘬.

This question seems to be on everyone’s minds these days. In “𝟮𝟭 𝗤𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀”, you’ll read answers from nostr:npub1jt97tpsul3fp8hvf7zn0vzzysmu9umcrel4hpgflg4vnsytyxwuqt8la9y, nostr:npub1h8nk2346qezka5cpm8jjh3yl5j88pf4ly2ptu7s6uu55wcfqy0wq36rpev, and nostr:npub1cf3zeytdnwgwzz5pk2ax0vvmmlzad03xcft4d50ejrfhsh8pxcdsefx7gk, that will give you a thorough perspective of Bitcoin’s future value.

Below is CK Snarks’ answer, as written in “𝟮𝟭 𝗤𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀”:

𝗖𝗞 𝗦𝗻𝗮𝗿𝗸𝘀’ 𝗮𝗻𝘀𝘄𝗲𝗿:

The question at hand is not merely about Bitcoin's price but rather its buying power in a scenario of ultimate success, commonly referred to as "Hyperbitcoinization." To address this, several key considerations must be taken into account:

𝗣𝗮𝗿𝗮𝗱𝗶𝗴𝗺 𝗦𝗵𝗶𝗳𝘁 𝗶𝗻 𝗠𝗼𝗻𝗲𝘁𝗮𝗿𝘆 𝗧𝗲𝗰𝗵𝗻𝗼𝗹𝗼𝗴𝘆

Firstly, it is crucial to establish whether Bitcoin represents a paradigm shift in monetary technology. If it does, speculating on its future value becomes an exceedingly complex task. The difficulty lies in the fact that we are attempting to measure Bitcoin's value in a world that has fully adopted it as the base measure of value.

𝗟𝗶𝗺𝗶𝘁𝗮𝘁𝗶𝗼𝗻𝘀 𝗼𝗳 𝗖𝘂𝗿𝗿𝗲𝗻𝘁 𝗛𝘂𝗺𝗮𝗻 𝗣𝗲𝗿𝘀𝗽𝗲𝗰𝘁𝗶𝘃𝗲

The challenge of predicting Bitcoin's future value is compounded by our current limitations in understanding. It is akin to expecting someone from 1928 to predict today's stock market value. Our collective knowledge lacks the context to comprehend a future with a perfect and unmanipulable value communication system like Bitcoin, especially when we are accustomed to valuing assets in terms of fiat currencies like the U.S. Dollar.

𝗧𝗵𝗲 𝗔𝗿𝗰 𝗼𝗳 𝗛𝘂𝗺𝗮𝗻 𝗜𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝗼𝗻

To accurately predict Bitcoin's buying power in a hyperbitcoinization scenario, one would need to forecast the trajectory of human innovation over a 50-100 year timescale and then apply that to Bitcoin's monetary policy. This is a feat that very few, if any, can accomplish. Nikola Tesla, who was exceptionally bullish on the potential of electricity, serves as a rare example of someone who might have had the foresight to predict such a paradigm shift.

𝗗𝗶𝗿𝗲𝗰𝘁𝗶𝗼𝗻𝗮𝗹 𝗖𝗼𝗿𝗿𝗲𝗰𝘁𝗻𝗲𝘀𝘀 𝗮𝗻𝗱 𝗛𝘂𝗺𝗮𝗻 𝗣𝗿𝗼𝗴𝗿𝗲𝘀𝘀

The most pragmatic approach is to aim for directional correctness based on reasonable expectations of human progress. Given the acceleration of informational technology and computational processing power, it is reasonable to expect that human progress will continue to accelerate. Therefore, Bitcoin's price could be conceptualized as a function of human progress divided by its total supply of 2.1 quadrillion satoshis.

In conclusion, while it is nearly impossible to predict the exact future value of Bitcoin, it is feasible to suggest that its value will be intrinsically tied to the rate of human progress and innovation.

Christian Keroles, known in Bitcoin circles as "CK," has been a passionate and dedicated advocate for Bitcoin throughout his career. He currently holds the role of Director of Financial Freedom at the Human Rights Foundation, focusing on advancing open-source Bitcoin development and global Bitcoin adoption.

In his prior position as Chief Operating Officer (COO) at BTC Inc, CK was instrumental in shaping Bitcoin Magazine into the foremost publication dedicated to all things Bitcoin. He also played a pivotal role in establishing one of the world's largest and most influential conferences in the Bitcoin and fintech industries—the Bitcoin Conference.

CK is a sought-after speaker at industry events, where he shares his thoughts and insights on Bitcoin through his written works and interviews.

Preorder your copy of “𝟮𝟭 𝗤𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀”, and 𝘀𝗮𝘃𝗲 𝘂𝗽 𝘁𝗼 𝟴𝟬%, by contributing to our nostr:npub1kmwdmhuxvafg05dyap3qmy42jpwztrv9p0uvey3a8803ahlwtmnsnhxqk9 initiative:

https://geyser.fund/project/spiritofsatoshi

That is correct.

And I'm pleased to report that El Salvador is now custodying their bitcoin with their own keys.

𝗛𝗮𝗽𝗽𝘆 𝗣𝗶 𝗗𝗮𝘆!

When writing the date in MM/DD format, today is 03/14, which is similar to Pi (π), or 3.14159...

Pi represents an 𝗲𝘁𝗲𝗿𝗻𝗮𝗹 𝗰𝗼𝗻𝘀𝘁𝗮𝗻𝘁, a number that is both infinite in its decimal representation and transcendent in its nature.

Similarly, #Bitcoin represents a new 𝘶𝘯𝘪𝘷𝘦𝘳𝘴𝘢𝘭 𝘤𝘰𝘯𝘴𝘵𝘢𝘯𝘵 in the digital and economic realms.

Both Pi and Bitcoin symbolize 𝗵𝘂𝗺𝗮𝗻 𝗶𝗻𝗴𝗲𝗻𝘂𝗶𝘁𝘆, and our quest for understanding, order, and stability within both mathematical and economic systems.

𝗛𝗼𝘄 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗖𝗵𝗮𝗻𝗴𝗲𝘀 𝗬𝗼𝘂

Bitcoin’s absolutely limited supply and desirable capabilities mean its price tends to rise over time. This incentivizes its holders to value the long term over the short term, to build more than consume, and to save more than spend, but 𝘪𝘵 𝘤𝘩𝘢𝘯𝘨𝘦𝘴 𝘺𝘰𝘶𝘳 𝘭𝘪𝘧𝘦 𝘪𝘯 𝘮𝘰𝘳𝘦 𝘵𝘩𝘢𝘯 𝘫𝘶𝘴𝘵 𝘧𝘪𝘯𝘢𝘯𝘤𝘪𝘢𝘭 𝘸𝘢𝘺𝘴.

Bitcoin's philosophical underpinnings have a strong influence on people's incentives and decision-making beyond just matters related to money. By understanding the importance of low time preference, or delayed gratification, 𝗶𝗻𝗱𝗶𝘃𝗶𝗱𝘂𝗮𝗹𝘀 𝗼𝗳𝘁𝗲𝗻 𝘀𝘁𝗮𝗿𝘁 𝗺𝗮𝗸𝗶𝗻𝗴 𝗯𝗲𝘁𝘁𝗲𝗿 𝗰𝗵𝗼𝗶𝗰𝗲𝘀 𝗶𝗻 𝘁𝗵𝗲𝗶𝗿 𝗽𝗲𝗿𝘀𝗼𝗻𝗮𝗹 𝗮𝗻𝗱 𝗽𝗿𝗼𝗳𝗲𝘀𝘀𝗶𝗼𝗻𝗮𝗹 𝗲𝗻𝗱𝗲𝗮𝘃𝗼𝗿𝘀.

For example, the emphasis on decentralized systems in Bitcoin's ethos 𝗰𝗮𝗻 𝗶𝗻𝘀𝗽𝗶𝗿𝗲 𝗽𝗲𝗼𝗽𝗹𝗲 𝘁𝗼 𝗾𝘂𝗲𝘀𝘁𝗶𝗼𝗻 𝗰𝗲𝗻𝘁𝗿𝗮𝗹𝗶𝘇𝗲𝗱 𝗮𝘂𝘁𝗵𝗼𝗿𝗶𝘁𝘆 𝗶𝗻 𝗼𝘁𝗵𝗲𝗿 𝗮𝗿𝗲𝗮𝘀 𝗼𝗳 𝗹𝗶𝗳𝗲, such as governance, education, and technology. This shift in mindset can lead to a greater demand for transparency, accountability, and individual sovereignty across different sectors.

As more individuals adopt the principles espoused by Bitcoin, there can be expected to be a cultural shift towards 𝘴𝘦𝘭𝘧-𝘳𝘦𝘴𝘱𝘰𝘯𝘴𝘪𝘣𝘪𝘭𝘪𝘵𝘺, 𝘪𝘯𝘯𝘰𝘷𝘢𝘵𝘪𝘰𝘯, and 𝘭𝘰𝘯𝘨-𝘵𝘦𝘳𝘮 𝘵𝘩𝘪𝘯𝘬𝘪𝘯𝘨. This could result in a society that values independence, critical thinking, and resilience, ultimately impacting decision-making processes in a wide range of contexts.

In conclusion, while the immediate impact of Bitcoin's philosophy may be more pronounced in matters directly related to money, its broader implications on individuals' incentives and decision-making can potentially lead to 𝗽𝗼𝘀𝗶𝘁𝗶𝘃𝗲 𝗰𝗵𝗮𝗻𝗴𝗲𝘀 𝗶𝗻 𝗼𝘁𝗵𝗲𝗿, 𝘀𝗲𝗲𝗺𝗶𝗻𝗴𝗹𝘆-𝘂𝗻𝗿𝗲𝗹𝗮𝘁𝗲𝗱 𝗮𝘀𝗽𝗲𝗰𝘁𝘀 𝗼𝗳 𝘁𝗵𝗲𝗶𝗿 𝗹𝗶𝘃𝗲𝘀, and in society as a whole.

Give this a 𝗟𝗶𝗸𝗲🤙, a 𝗦𝗵𝗮𝗿𝗲🔄, and 𝗕𝗼𝗼𝗸𝗺𝗮𝗿𝗸🔖 this for later.

How has Bitcoin changed you?

Let me know in the 𝗖𝗼𝗺𝗺𝗲𝗻𝘁𝘀⬇️

𝗧𝗵𝗲 “𝟮𝟭 𝗤𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀” 𝗛𝗮𝗹𝘃𝗶𝗻𝗴 𝗘𝘃𝗲𝗻𝘁!

Bitcoin’s halving is more than a month away, but “𝟮𝟭 𝗤𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀”, one of the best resources for #Bitcoin education, is temporarily getting its price cut in 𝘩𝘢𝘭𝘧!

Already, ordering “𝟮𝟭 𝗤𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀” through our nostr:npub1kmwdmhuxvafg05dyap3qmy42jpwztrv9p0uvey3a8803ahlwtmnsnhxqk9 campaign would 𝘀𝗮𝘃𝗲 𝘆𝗼𝘂 𝘂𝗽 𝘁𝗼 𝟲𝟬% on the book’s selling price after the campaign.

But starting today, 𝘵𝘩𝘦 𝘯𝘦𝘹𝘵 𝟭𝟬𝟬 𝘱𝘦𝘰𝘱𝘭𝘦 who contribute to our campaign and order any version of the “𝟮𝟭 𝗤𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀” book will get it at *half* of what it has been. That’s 𝙪𝙥 𝙩𝙤 𝟴𝟬% 𝙤𝙛𝙛 of what the book will later sell for! 🤯

Will 𝘺𝘰𝘶 be one of the 100? Head over to our Geyser page to claim your copy of “𝟮𝟭 𝗤𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀”, and support the community development of the Spirit of Satoshi model.

https://geyser.fund/project/spiritofsatoshi

𝗪𝗵𝘆 𝗶𝘀 𝘁𝗵𝗲 𝗣𝗿𝗶𝗰𝗲 𝗼𝗳 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝘀𝗼 𝗩𝗼𝗹𝗮𝘁𝗶𝗹𝗲 𝗮𝗻𝗱 𝗨𝗻𝗽𝗿𝗲𝗱𝗶𝗰𝘁𝗮𝗯𝗹𝗲?

𝘈𝘯 𝘦𝘹𝘤𝘦𝘳𝘱𝘵 𝘧𝘳𝘰𝘮 𝘵𝘩𝘦 𝘴𝘪𝘹𝘵𝘩 𝘤𝘩𝘢𝘱𝘵𝘦𝘳 𝘰𝘧 “21 𝘘𝘶𝘦𝘴𝘵𝘪𝘰𝘯𝘴”, 𝘵𝘩𝘦 𝘸𝘰𝘳𝘭𝘥’𝘴 𝘧𝘪𝘳𝘴𝘵 #Ai-𝘦𝘯𝘩𝘢𝘯𝘤𝘦𝘥 #Bitcoin 𝘣𝘰𝘰𝘬.

With Bitcoin’s recent price rise, many who avoided it because of its volatility are wishing they had just stacked and planned to hodl long-term. nostr:npub1dtgg8yk3h23ldlm6jsy79tz723p4sun9mz62tqwxqe7c363szkzqm8up6m, nostr:npub1excellx58e497gan6fcsdnseujkjm7ym5yp3m4rp0ud4j8ss39js2pn72a, and nostr:npub1ltt9gry09lf2z6396rvzmk2a8wkh3yx5xhgkjzzg5znh62yr53rs0hk97y dispel this common fear, and give you the perspective you need to hodl with diamond hands.

Below is Samson Mow’s answer, as written in “𝟮𝟭 𝗤𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀”:

𝗦𝗮𝗺𝘀𝗼𝗻 𝗠𝗼𝘄’𝘀 𝗮𝗻𝘀𝘄𝗲𝗿:

When we hear people speak of Bitcoin volatility, they are usually referencing its fiat or dollar value being volatile. It is true that the fiat value of Bitcoin can have unpredictable movements when looking at it on short time horizons, but it’s equally important to understand that bitcoin is the only asset that is capable of adjusting its fiat value in real-time, across borders, permissionlessly, accessible by anyone on the planet, 24 hours a day, 7 days a week. No other asset or currency is capable of that — not commodities, not precious metals, not the Euro, not real estate, and not stocks. Any perceived short-term volatility in Bitcoin is simply a reflection of real-time changes in the aggregate worldwide markets. Now, if you look at Bitcoin on longer time horizons, it simply is going up steadily in a very stable and predictable fashion.

Samson Mow is the CEO of JAN3, a Bitcoin technology company focused on accelerating hyperbitcoinization. Samson is best known for his work with El Salvador’s Bitcoin initiatives, and his efforts in nation-state Bitcoin adoption around the world. As one of the top executives in the Bitcoin ecosystem, his expertise spans from running one of the largest exchanges and mining pools when he was the COO of BTCC, to guiding the development and deployment of Bitcoin infrastructure as the CSO of Blockstream.

Preorder your copy of “𝟮𝟭 𝗤𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀”, and 𝘀𝗮𝘃𝗲 𝘂𝗽 𝘁𝗼 𝟲𝟬%, by contributing to our nostr:npub1kmwdmhuxvafg05dyap3qmy42jpwztrv9p0uvey3a8803ahlwtmnsnhxqk9 initiative:

https://geyser.fund/project/spiritofsatoshi

These cards and other rewards are available on our nostr:npub1kmwdmhuxvafg05dyap3qmy42jpwztrv9p0uvey3a8803ahlwtmnsnhxqk9 page. Claim yours before they’re all taken!

https://geyser.fund/project/spiritofsatoshi

𝟭𝟭 𝘆𝗲𝗮𝗿𝘀 𝗮𝗴𝗼, 𝗼𝗻 𝟭𝟭 𝗠𝗮𝗿𝗰𝗵 𝟮𝟬𝟭𝟯, #Bitcoin hit a snag at block 225430. Two software versions — 0.7 and 0.8 — clashed. The newer version, 0.8, could handle bigger blocks, but the older version, 0.7, couldn't keep up, so 𝘵𝘩𝘦 𝘵𝘪𝘮𝘦𝘤𝘩𝘢𝘪𝘯 𝘴𝘱𝘭𝘪𝘵, temporarily creating two Bitcoins that followed the same consensus rules, but had differing transaction histories for 24 blocks.

How was this chain split resolved? Miners and nodes chose to dial back to version 0.7, which merged the split. 𝗡𝗼 𝗸𝗶𝗻𝗴𝘀 𝗼𝗿 𝗯𝘂𝗿𝗲𝗮𝘂𝗰𝗿𝗮𝘁𝘀 𝘄𝗲𝗿𝗲 𝗻𝗲𝗰𝗲𝘀𝘀𝗮𝗿𝘆 𝘁𝗼 𝗰𝗼𝗼𝗿𝗱𝗶𝗻𝗮𝘁𝗲 𝘁𝗵𝗶𝘀. Individuals in the community followed their own incentives and steered the ship back on course, a testament to Bitcoiners' united resolve.

This wasn't just a minor technical hiccup. It was a conflict between old and new versions of the protocol, with a spotlight on Bitcoin's core ethos — 𝘥𝘦𝘤𝘦𝘯𝘵𝘳𝘢𝘭𝘪𝘻𝘢𝘵𝘪𝘰𝘯. Each user played their part, ensuring the network remained intact and stronger than ever.

The 2013 fork saga is now part of Bitcoin's lore, demonstrating not just its ability to survive, but to 𝘦𝘷𝘰𝘭𝘷𝘦. When faced with adversity, Bitcoin proves that its strength lies not in easily-copiable code, but in 𝘁𝗵𝗲 𝘂𝗻𝘆𝗶𝗲𝗹𝗱𝗶𝗻𝗴 𝘀𝗽𝗶𝗿𝗶𝘁 𝗼𝗳 𝗶𝘁𝘀 𝘂𝗻𝗰𝗼𝗽𝗶𝗮𝗯𝗹𝗲 𝗰𝗼𝗺𝗺𝘂𝗻𝗶𝘁𝘆. 11 years later, Bitcoin remains unbridled by central control, and resilient in the face of technical tumult.