Why do you believe he’s not in favor of software maintenance? I think part of the “problem” that people have with him is that he wanted the funding to have “strings attached”.
Interested in your experience of using non-custodial Lightning day to day.
Which app is your favorite?
How often do you need to make L1 transactions?
Also, do you think it could be used by a young niece / nephew to receive small payments?
Do you really think Saylor is arguing for no software maintenance?
Yes both Aqua and Green. Green seems to be much cheaper than Aqua but I use both to support Aqua.
Fees still aren’t as cheap as custodial Lightning (eg Primal). I pay 0.1 sat / vbyte with Green which works out to 15 cents per transaction.
All things considered, I’m mixed about both systems. Liquid is easier for newbies, but with higher fees making it difficult for zaps but pretty good for everyday transactions. Non-custodial Lightning has lower fees but with periodic and expensive L1 chain transactions.
Now, just as a replacement for Lightning. I used to make small ‘zaps’ to friends and family kids using BlueWallet.
That worked well (fees were low) when they were custodial. When they went non-custodial we all got rugged.
The exit transfers required base chain transactions (I think for channel liquidity) and the fees were extreme (~$30). In many cases consuming the balances.
Anyway, long story short, I wanted to find the next best service, as non-custodial as possible. Lightning doesn’t work for our use case because of the channel opening fees. So I moved everyone to Liquid.
Yep, check it out. I appreciate Blockstream’s forward thinking with it and how it could be used to improve security and confidence.
Yes, absolutely. It’s like how to create extremely reliable software. Create a bulletproof micro kernel and then add layers. (Eg. QNX, sel4)
My understanding is that Liquid was intended to be used as you described. A “playground” where stuff like smart contracts and Monero-like confidential transactions were run but in a sidechain where it could experiment but not harm the core L1 network.
Perhaps these experimental features could either be added to Liquid or into a similar sidechain where you would peg-in and -out some sats into a network that looks like the core L1 but with experimental features.
I think it’s a great idea. 😀 The only issue I see is that people would probably want to experiment with it and wouldn’t use a large amount of bitcoin. With high L1 fees, the peg in and out transfers would be expensive on the base chain. Perhaps there is a way to do it to peg in and out with Lightning. 🤔
nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx, I love you but you turned my pleasant nostr timeline into a twitter feed of “I love devs and you hate devs!”
Please consider having a long form podcast discussion somewhere on the deeper issues.
A few on my mind:
1) Are the core devs and the development process too centralized? Is there anything that can be done to reduce risk? Do we want large companies to fund devs? How do we avoid a situation like big pharma funding the FDA?
2) The community fought hard for small 1 MB blocks. Why were we surprised by ~4 MB blocks and spam jpegs. Was this a failure of software architecture? Communication?
3) What should be our software design philosophy for Core? Should we add powerful new technologies where the full use and abuse cases are unknown? Or rather should we select only the most important use cases and then tightly enabling only those narrow purposes?
4) We all saw how a contributor almost got malicious software into Linux. Are we funding enough security auditors?
5) Is there a way to improve communication between the devs and the community? If we need a site perhaps we should build it.
What else am I missing?
Thank you. 🙏
👏 🎯💯 yes, exactly. Nuance is missing here. It seems we have a lot to talk about and, for the most part, the discourse is “I love devs”
and you hate devs”.
nostr:note1l26lj0sp0sc96wx4w73qt29nc9vacxcdstl42n54zcepk2pa54esp55xh2
Good strawman. 👍 It sure is nice keep the discussion to people who want to improve the protocol and those who don’t.
Then we don’t have to discuss stuff like dev centralization, and how everyone was surprised by the blocksize increase that brought us inscriptions.
Makes it a much simpler discussion for everyone. 🤙
nostr:note1tz2la0kr8ancgfrhrrx6m259utqj0kzfptdeayhslsnpkelz6nxstkek2e
I’m hoping this event triggers a discussion on the deeper issues here.
That’s what I expect too.
Powell obviously sees that he’s accelerating the debt crisis. Maybe he was hoping that the politicians would find some fiscal restraint and slow down their deficit spending. (Never gonna happen)
Powell probably also realized by now that his high rates are actually accelerating inflation by increasing demand from the liquidity provided by the growing interest payments while shrinking the private sector supply of products.
He was probably looking for some way of saving face. I’ve been thinking he’s been hoping for CPI to touch 2.9% so he can say it’s at 2% to start lowering rates.
Lyn, perhaps you can help expand the discourse on this topic to deeper levels, given your background.
Of course it’s important to fund open source devs. But probably Saylor has other concerns (perhaps like mine) maybe related to ossification, dev centralization, and how powerful technologies are being added to the protocol without a full assessment of their long term impact (eg. segwit and ordinals).
We just witnessed how some malicious actor tried to get a back door into Linux via XZ utils.
More code means more bugs and we can’t just roll-back to an earlier version like centralized systems.
We need to fund more security auditors and decentralize development. IMHO, we don’t need to fund more devs to “innovate” faster.
Saw the 🇺🇸 inflation numbers and that investors are losing hope for rate cuts this year.
Personally I can’t decide what’s better for bitcoin, higher rates which accelerate the 🇺🇸 debt spiral, or lower rates and the increased liquidity that will then flow into markets.
Long term vs short term, but bullish either way.
Just also mindful that we’re reaching levels of economic chaos that is incredibly hard on everyone.
Can someone explain to me why nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx posts like a boomer with all caps and punctuation? Did I miss something a while back on this?
Caps ODELL seems to appear during the bull market part of the cycle.
I really hope we get a podcast with him and Saylor to their perspectives. I suspect Saylor may have concerns. 🤷♂️
I personally have concerns with ossification, dev centralization, and how features are developed. I’m hopeful they may discuss some of those issues.
Really enjoyed this. Imagine if all our doctors were like Dr. Brighthope. nostr:note16dehpcefdmcc7tn6gzyjrszx8ymwpktzcx8vpeuw0a2stdlt549qts7rg8
I’m shocked! So shocked!! The govt got caught giving inside economic data to a select group of bankers. If they keep this up, they might lose our trust.
