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n3xB | Global Bitcoin Exchange Protocol on Nostr
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P2P #Bitcoin exchanges should share a single global & open order-book deeper than Coinbase, hosted on Nostr. Follow & DM me to make it happen
Replying to Avatar Beautyon

And this, ladies and gentlemen, is a perfect encapsulation of....something.

Nostr is actually about what people think they represent; "Freedom, self sovereignty, Bitcoin".

It doesn't have to solve a real problem; all it has to do is make people feel good about themselves, so that they can, "identify" with it.

Meanwhile, in the real world that they're hiding from, access to Bitcoin is being made harder and harder by the EU (https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32023R1114&pk_keyword=Crypto%20assets&pk_content=Regulation) while they Virtue Signal and spray around tiny amounts of "Sats", the origin of which is never accounted for.

Nostr is an easy place to be and hide; you don't have to take responsibility for what you're doing (or failing to do) in the real world, and you can openly Virtue Signal in several areas simultaneously. It's crack for Virtue Signallers.

Of course, none of this has anything to do with the idea behind Nostr, which is just software. This is a "people problem", a problem of the character of some users, and obviously, this brush cannot be used to paint all Nostr users.

It's endlessly fascinating!

What if I propose to use the Nostr network to bootstrap a global decentralized P2P order book to exchange between fiat & Bitcoin? To no longer serve as a backup to centralized social media, but also as the defacto, natively decentralized and non-custodial way to onboard people to Bitcoin? Ensuring the on-ramp & off-ramps can never be closed, at least until the entire world is using Bitcoin natively in every single transactions.

Until all transactions in the world are conducted natively with Bitcoin, decentralized P2P is the best we’ve got. Native Bitcoin adoption will require price stability, and we are easily a decade away from widespread Bitcoin adoption at the mom and pop merchant level.

Platforms like Vexl is good. But they are like Blue Skys and Mastodon before Nostr. We need an open protocol for decentralized exchange. Not a lot of inter-incompatible little silos of centralized P2P solutions.

In particular, Vexl’s starting screen asking for my phone number tho, is not a good sign whatsoever


Monero has its utilities, mostly as a stop gap for privacy transactions. But it has little chance to become the world’s store of value, medium of exchange, adefacto of account. To do so it requires a market cap and liquidity large enough such that there’s small enough volatility to be half of all of the world’s transactions. Its simply not happening.

Monero is the short time preference version of Bitcoin where it cannot wait for price stability and privacies properties to emerge. These properties are slow to emerge on Bitcoin because of the need to be a ‘sly and roundtable way to introduce something they can’t stop’. In fact, Monero is effectively slowed, if not already stopped, because its simply not sly enough. Monero is the idealistic but impossible perfect that is in the way of the practical and already working good that is Bitcoin.

Medium of exchange and privacy properties will continue to improve on Bitcoin, at a rate that will not overly alarm, and effectively penetrate the authoritarians. Only Bitcoin has a chance to truly separate money from the state and become the one defacto money for humanity.

What makes Nostr and E-cash so attractive to developers and easy to built on top of? Asking for a friend

I am not sure how Monero fixed bridging the global economy, which the majority still sell product and services only for fiat, into anything.

Not to mention those who held onto Monero instead of Bitcoin, has diminished in purchasing power relative terms.

Both can exist at the same time. People are free to choose. But P2P solution is currently sorely inadequate nevertheless

Just like you are not using centralized services for your social media. Don’t use centralized services for your Bitcoin. Then you’ll never be chain analyzed. Pay with Bitcoin. Or use P2P exchanges. Make P2P exchanges the standard

My hope goes a step further. That the orderbook of Peaches can be interoperable with that of Robosats, and with Bisq, and with HodlHodl, etc. That’s the idea behind n3xB. Because as it is, the liquidity of all of these individually is low. But together, it might amount to something.

Thanks! If you know anyone might be interested in a project like this, providing feedback, critique or insights. Please help spread the word.

Thanks. At this point, need to get community feedback and some indication this is a good direction if this is to be an open interoperable solution like Nostr itself. Not good at marketing and building community here unfortunately


Last year I posted about the n3xB project - a proposal for an open protocol to facilitate Bitcoin exchanging across a globally shared order book, hosted using Nostr.

A year later today, I got the idea a lot more fleshed out - including a Rust library implementing the protocol, along with a demo iOS/macOS application and demo videos showcasing how this can work.

Hoping to get more interest and feedback on the idea. The hope is to make this an open standard for the decentralized exchanging of Bitcoin, similar to how Nostr itself is an open standard for decentralized social media applications.

Checkout the revamped portal for the project at n3xB project at https://n3xb.io/

Skimmed this also. I don’t agree with the take re: AI. But lets not get distracted from building a open protocol for a shared Bitcoin/fiat order book on Nostr~

Gave it a quick read. Interesting on thinking about every layer as an order book. Unfortunate that CivKit was used as the example of an actual ‘order book’ built on top of Nostr, as the CivKit project is completely dropped as I understand it. Not to mention that CivKit, at least to me, is very complex. While n3xB is meant to be ‘naive’ (as simple as possible), if not at least to start with.

Whether Nostr is handling too much too quickly, whether Nostr will be a success, or whether n3xB will go anywhere at all, nobody knows. The good part of an open development landscape is anyone can pick up anything and experiment with it. And only through experimentations would we know what the free market will accept and find useful.

BUIDL

Yes sir. Some update to BUIDL on n3xB.

First implementation of the n3xB protocol library completed, written in Rust.

Also an example implementation & app built on top of n3xB as a demo.

https://n3xb.io/fatcrab.html

Replying to Avatar Beautyon

It is not true that Bitcoin’s rebellious, DIY, mid-seventies-like, Cypherpunk era is over.

The exact opposite is true.

Bitcoin was written after the mid-seventies Home Computer revolution took place and “ended”, putting the power of software development in everyone’s hands at a cost of essentially zero. Before that, to develop and run software, you had to book time on a large UNIX machine at a University, and that was only possible if you were enrolled as a student at an institution with a computer. Computer illiterates don’t know any of this important context and history.

Bitcoin was written on widely available, ubiquitous commodity computer equipment available from Walmart to Radio Shack. It was written in programming languages that were free and on operating systems that came for free with the machines they ran on. None of this was true previously; the cost of a commercial software license for AT&T UNIX was $30,000, out of reach for all but companies and educational institutions. Even the single user license of $150, whilst not an impediment for the die hard, was eliminated when Bitcoin was written by GNU. Universal availability of computing made the software development revolution possible. It meant that anyone anywhere could write software without permission, admission to University or supervision of any kind, and then they could distribute to anyone anywhere it without permission at a cost of near zero.

In the early days, software was distributed by mail order on floppy discs. Then it was distributed by BBS systems over telephone calls modem to modem. Now it is distributed over the Internet, for free. The commodification of computers and elimination of the cost of tooling to write software, remote connecting and expanded access to every form of intellectual pursuit in software from game development to book writing and research.

Can you see what’s coming next?

Universal access to programmable synthetic money in the form of Bitcoin will mean that anyone anywhere will be using Bitcoin. Nation States, hedge funds and sovereign wealth funds’ are irrelevant to this, and will continue to be downstream of the innovators from the public, just as they were and are with the Internet, email and Bitcoin. Nation states, hedge funds and sovereign wealth funds did not develop Bitcoin (or email or the web), and could not have developed it. They could not have imagined any of them, nor had they the skill to implement it. (See Paul Krugman’s predictions about the Internet being no more important than the Fax machine, or his most recent predictions about Bitcoin. What a joke!) The members of their impotent class will be, at best, peers on the network, like everyone else is. They are no longer special, privileged or required. At all.

That’s the whole point of Bitcoin, in case you didn’t know.

Jeremy Alaire famously said many years ago of the Bitcoin ecosystem, “It’s time for the grown ups now”. He was 100% wrong, and ended up peddling altcoins and unethical stablecoins because the immovable and immutable object “Bitcoin”, resists partially informed incomers with their clever plans to improve it. This feature of Bitcoin (and it is a feature, not a flaw) is what is currently being missed by FinTech bros, WallStreet Wonks, tenacious tangentials and other people who have just come to the ideas that spawned Bitcoin; reality no longer operates by proclamation of the self anointed.

It is a good thing that a small number of Americans are finally capitulating to Bitcoin, however in addition to capitulation, their parochial “Policeman of the World”, “my way or the highway”, “our institutions and governance models are the only possible way forward” mindset is best abandoned by them; no one on Earth wants to hear it, everyone is fed up with them, Bitcoin can’t hear it, and all real Bitcoiners ignore it.

The subconscious urge to control everything is strong in many characters; this is why rebellion is cast in a negative light by Statists. Change is not rebellion. Change is the essential process of all existence. Change is coming to what money is and how it is mediated, and in this change, the old players are removed from management, oversight, design or input of any kind. They are excluded. They are exsanguinated.

Yesterday’s men can’t conceive of any power outside of the familiar structures from their past; “the big boys” will always be the great powers. They don’t seem to realize (why should they?) that Bitcoin is sitting on top of something that has already completely eroded the power of many venerated “staple of modern life” institutions to great effect and universal benefit

Journalism: Junked

Music Distribution: Marginalized, Decimated

Publishing: Pulverized

Dictionaries: Destroyed

Telephone Companies: Trashed, Castrated

Censorship: Cauterized and Circumvented

Government Postal Services: Gutted, Piked, Slaughtered

Only the most naïve of people thinks the entry of Nation states, hedge funds and sovereign wealth funds as peers on the network abolishes Bitcoin’s rebellious, DIY, mid-seventies-like, cypherpunk era. On the contrary; the spread of Bitcoin makes Cypherpunk and the culture of rebellion the norm. It is Cypherpunks that are the innovators, and they’re continuing to prove it. Look at how one software company, Blockstream, run by a Cypherpunk, is providing financialization services to a nation state that were unimaginable before Bitcoin. All of this is obvious to anyone who can think.

The Cypherpunks and their direct descendants are building the new companies, software and services that cannot be revoked or “supervised” by outsiders, cowards, Statists, carpetbaggers, thieves, Socialists, and other human moths attracted to the bright flame of Bitcoin.

Look at Nostr for another example. While everyone downstream of Twitter as consumers complained bitterly about it, one man decided to offer a possible solution to it. No one saw it coming, or even thought it possible. Now, like it or not, an ecosystem has the very real potential (because it is real) of emerging on it, where the people using it cannot be told what to do or say.

This is exactly analogous with what happened with Bitcoin. Wall Street Wonks complaining bitterly about “the corrupt system” could not imagine Bitcoin, and then Bitcoin
existed, and now it cannot be stopped, like it or not, and its nature will not be changed because Bitcoin’s rebellious, DIY, mid-seventies-like, Cypherpunk era is not only not over but will never end. This is a safe prediction to make; look at how features of the web are developed, through the IETF process. The people at the coal face are doing the hard work of fundamental design, and corporations have nothing to do with it beyond paying the salaries of the designers; the “big players” don’t have a say in how things actually work.

Apple learned this the hard way by trying to introduce a new protocol called “AppleTalk.” Launched in the mid-1980s, AppleTalk was designed to facilitate networking in Apple environments, allowing Macintosh computers to connect and share resources seamlessly. Despite its initial success within Apple’s ecosystem, AppleTalk struggled to gain broader acceptance due to the dominance of other networking protocols like Ethernet and TCP/IP. Over time, as the industry standard shifted towards TCP/IP, Apple gradually phased out AppleTalk, officially discontinuing support for it in 2009. “2009”...a special year, wasn't it? This is exactly like Wall Street trying to “take over” Bitcoin and change it. It cannot happen, and there will be no “The Grownups are Here Now” moment in Bitcoin. History indicates this strongly, but you have to know your history in order to understand this.

These are just a few of many examples showing the nature of the change and who is being excluded as a consequence. Everyone who has the power to create software and services is fed up to the back teeth with being told what they are, what they can do, what they can say, how they must implement software tools, and being on the bottom rung of the perverted “Society” where Nation states, hedge funds and sovereign wealth funds have control over what money is and how it is allowed to move.

That’s over chaps.

The masses using Bitcoin at every level are together far more powerful than any Nation state, hedge fund or sovereign wealth fund. The masses using Bitcoin as money is an absolutely inevitable outcome, and it will happen on the terms of the Cypherpunks, not Nation states, hedge funds and sovereign wealth funds.

For the next cyberpunk evolution, what if I propose that Nostr can be the trojan horse for building a network of P2P fiat on/off ramps? Think an open protocol for Bisq that can also be mobile friendly. Instead of building monolithically, (a Bisq stack & its own order book, a Robosat stack & its own order book, etc), a shared liquidity pool can be formed so that any new trading application can be additive to the liquidity of the shared global order-book, instead of fracturing it?

I have written the first working version of the n3xB protocol library, along with a fun demo implementation. Looking for feedback, and the special people/teams that will build the Damus to n3xB. Someday becoming the challenger to the Binances of the world, like how Nostr is growing to be a viable challenger to Twitter, etc.

https://n3xb.io/fatcrab.html