extremely grateful for #nostr + #bitcoin after watching this video nostr:note1rf369e6tn4mz47pe57gkegkc9dka5qgec0a49ek6eyh8alfwtlksgzssjy

From what I remember:

You can do pretty much what you want in a drivechain, similar to what you see in the ETH L2 world at the moment. From optimism, zk rollups, zkevm, etc.

It allows to keep a state in another chain anquored to L1.

Security is via time delayed changes in L1.

The changes to L1 btc would be minimal and do not change what already exists.

Why will it be in vain? What do drivechains offer that we absolutely need? Genuinely curious… I haven’t looked into them much.

Just read some articles on drive chain?

Why do we need this?

Raising security bugdet I can sorta understand.

But why do we want to add altcoin features to compete?

Well, off the bat I'm not sure that I agree that anarcho-capitalism means there won't be governments.

I see sovereignty and anarchy as being a descriptor of your relationship with authority. If you don't have to cede to an authority and other authorities are effectively your peers, you are sovereign.

As such, consider the fact that nation states are sovereign. At this level, nation states operate in a state of anarchy - they don't HAVE to cede autonomy to other bodies.

So when I talk about sovereignty maximalism I mean more that individuals can achieve similar levels of autonomy as nation states, not necessarily that nation states will disappear.

This is already occurring, though the bar is still quite high - you basically need to be a billionaire.

So many half-written blog post drafts, so little time to do the research required to complete them...

Imagine trying to jump from one train to the other if:

Train A is going 65 mph

&

Train B is going 60 mph

Only these trains aren't running in the same direction. They are running in opposite directions.

That's what "pegging" the dollar to Bitcoin would look and feel like. You can attempt that jump, but like Joe Carlasare says, "The new paradigm isn't forced upon the old; it succeeds it."

I hope the Hollywood writers and actors and all associated with them stay on strike for a long long time.

#ham #grownostr

GEOMAGNETIC STORM WATCH (G1): NOAA and NASA analysts agree: A CME will hit Earth's magnetic field on July 14th or 15th

A HYPERACTIVE SUNSPOT: New sunspot AR3372 is seething with activity. Since it first appeared on July 11th, the sunspot has produced eight M-class solar flares, three of them quite strong: graph. To the extreme ultraviolet telescopes onboard NASA's Solar Dynamics Observatory, it looks like the northeastern limb of the sun is on fire:

The rat-a-tat-tat of solar flares from AR3372 is causing a rolling series of shortwave radio blackouts around all longitudes of our planet. Ham radio operators, mariners and aviators may have noticed loss of signal below 30 MHz on multiple occasions since the sunspot appeared.

If current trends continue, we should expect more strong M-class flares during the next 24 hours with a chance of X-flares as well. This sunspot will become even more geoeffective in the days ahead as it continues to turn toward Earth.

>"Now you are saying sending tokens to other mints makes it custodial again."

No, I'm saying if another party operates within your mint, using your token, it is custodial. The act of them redeeming it on lightning or onchain, means it is no longer ecash on your mint. I feel you are conflating the redeemed bitcoin with ecash.

>"At some point in an exchange, money/value/tokens, is in someone else's custody"

You are being somewhat semantic here. Of course it is in *someones* custody, but there will be many more counter parties with IOUs that do NOT have custody.

The only time ecash is private is when you are transacting WITHIN a mint. And 99.9% of users will be doing that custodially with a "third party mint" as you say. Otherwise it is pretty pointless.

But why would you do that? You get no benefit by having a mint in that scenario if you are the only one using it. You would be privately shuffling tokens inside the mint to yourself from yourself. I don't know how that helps you.

As soon as it leaves the mint, it is no longer private again, and you remain just as anonymous as before you entered the mint with your KYC-free btc. In other words, the mint was a completely unecessary step.

And if you are sending tokens from your mint to other users, then we are right back to it being custodial for other users.

You still have to fund the mint with on chain/LN and settle with LN between mints. What are you going to do only transact with yourself within your own mint?

And unless you obscure those deposited and moving funds with KYC-free/CJing, you're not anonymous or private. But at that point chaumian ecash would be redundant and you lose most/all benefits (convenience/privacy).

That defeats the entire point of ecash: convenience and privacy.

How are you going to hide if everyone is using their own mints?

Not possible with ecash. They're both custodial.

If people want sovereign + private + final settlement then Monero isn't going anywhere soon. If ever.

My mother is trying to convince me to put a large sum of money into CD ladders so I can ‘make’ a 5% yield off my fiat. They think I’m crazy for not wanting to collect yield and basically live for free like a rent collecting scum. But I’d rather not be exposed to the counterparty risk of banks and funding government debt.

Am I crazy? I am continuously called crazy as I’ve grown my wealth 10 fold over the past 3 years from simply working hard and stacking sats

me & who