What city is this?
Buying and selling nice stuff and settling in #bitcoin
This is the revolution, Be a part of it
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Getting sole and unalienable control of un-debase-able money is really what does it for me.
There is no comparable feeling like settling an honest and voluntary transaction in sats. Each tx feels immortal and invincible.
#bitcoin truly changes the economic paradigm for buyers and sellers.
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GM #nostr wishing everyone a productive week filled with #pow
Another thing I think is overlooked in the mining game theory is if a lot hash went offline, hash rigs would get cheap and many plebs would start to mine from home to secure their own funds / the Network and collect tx fees.
I think no matter what there are dynamic and functional incentives that will keep the Network functional and secure.
You do not want on chain activity maxxed out right now. If it was outlook for the future when adoption has done a 10x would be grim.
Lightning (and other L2 / L3 solutions) is completely necessary to scale bitcoin. The LN has shown that it’s making a major positive impact for on chain fees and congestion, enabling actually scaling for when the Networks goes through its next surges in adoption.
Imagine a skyscraper that’s mostly complete. It may take years to populate the massive building, but it’s ready for a lot of tenants. You do not want a skyscraper’s amount of tenants trying to move into a building that cannot accommodate them all. Rents would 10x and many will go elsewhere.
I think it is very obvious from the information I presented that Bitcoin is ready for increased global adoption. Miners are profitable despite a 93.75% reduction in block reward amount since halving epoch 0. The network is the most secure it’s ever been. On chain transactions are cheap and readily available. Lightning is cheaper and faster and quite reliable. Nodes are still cheap and simple to run. Ecash on the horizon.
I’m not worried at all.
Miner revenue is very near ATH despite block reward going from 50 BTC to 3.125 BTC and asymptotically approaching zero. Your fears are unfounded and the system is working perfectly in a decentralized manner just due to well-engineered incentives.
People use Bitcoin, I get paid in it often. Many others on Nostr are settling in sats daily but we’re all using Lightning. It’s taken massive pressure off base chain which is by design and an excellent development.
Before the popular FUD was: “fees are too high there isn’t enough block space!!!”. Now it’s: “fees are too low and there aren’t enough tx’s!!!” Both wrong. Both low time preference and dumb takes.
The network is developing organically and incentives are working very well. There is room for more activity on base chain and lightning right now, which is necessary for adoption to grow.
You’ve been ignoring my comments so there’s no reason to continue this conversation unless you specifically acknowledge what I am contributing.
nostr:npub1xnf02f60r9v0e5kty33a404dm79zr7z2eepyrk5gsq3m7pwvsz2sazlpr5 any idea the reason for this error?
I just did.
In the end everything in life boils down to being responsible for yourself. Do the work to understand and trust your instincts.
Nobody but you can make the right decisions for you (and your children).
This is why governments and authorities continually make our lives worse, because they are making decisions from an ivory tower that only the individual should be making for themself.
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GM hustlers
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You seem to missing a lot of information.
Average fees per block are around 10 million sats today so at 1BTC=10M in purchasing power BTC that’s a million in fees for an average block, much more than what a miner earns for a block reward today.
The mempool typically has at least a few blocks to clear at all times now at minimal global adoption.
If you think price will appreciate significantly in the future then you also think adoption will continue. If you think adoption will continue, then you believe the Network will see more activity. In that scenario then fees will be higher and more tx’s will be in the mempool.
All of the incentives are working just fine, lower your time preference and stop being scared.
For those with funds trapped in fiat retirement accounts, what is the outlook on CEP?
I feel MSTR is shady for refusal of proof of reserves and coinbase custody.
Any resources on CEP’s plans in the future? How will funds be custodied? Will conversion of CEP shares be 1:1 with 21? Any help appreciated (and zapped) nostr:npub1cn4t4cd78nm900qc2hhqte5aa8c9njm6qkfzw95tszufwcwtcnsq7g3vle
Small businesses preferring settlement in #bitcoin is a genuine movement.
It wasn’t feasible in the past but lightning now makes it seamless and MUCH better than credit card payments.
Also interesting to see these tiny random international corporations beginning to stack by the dozen monthly. They will soon realize the best way to accumulate is to settle customer invoices in sats.
The root mass of the Network is sufficiently developed, feels like the canopy is filling out. Suddenly, is that you?
It’s a movement. Getting a strong pleb network going! I appreciate you all 🍻
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We call this: “a look into the future”
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