Remember these days.
nostr:note1mv340v9zr3dggk5s7jceyhgsmrar9ztk3v5dp0k7gwlqxsjz70wsrgqsxy
AUD$ sets new ATH for bitcoin .. which G20 next?
Or is that nostr:npub12rv5lskctqxxs2c8rf2zlzc7xx3qpvzs3w4etgemauy9thegr43sf485vg checking his enuts?
I’ll be talking about this on Sunday night to close out the open source stage 🧡😊
This is the government version of Ricky Gervais presenting the Oscars.
https://video.nostr.build/f758fd80c6648f38bbc4a96a8c26e5849f98fea8c31feee0de56f8e4d08bc123.mp4
🎯
I did my first real-world economically-not-completely-insignificant ecash wallet recover process from a seed phrase with nostr:npub1kvaln6tm0re4d99q9e4ma788wpvnw0jzkz595cljtfgwhldd75xsj9tkzv wallet today and trust me – I really wanted this one to work.
I first exported all tokens I could access in Minibits and put them into a text file, just in case. I then backed up my mint URL list (I had 6 different mints in this wallet), and then wrote down the derivation path counter for each mint (not strictly necessary but just in case the app doesn't figure it out by itself). Then I made sure that I have my seed phrase stored securely and wiped the wallet app from my phone.
I started Minibits again set up a new wallet. I entered the seed phrase, and entered all my mint URLs that I had written down before the restore. Because I'm a power user, my wallet took quite some time to restore and I had to press the button to continue many times (I could give some UX feedback that the dev appreciated and indicated to make this process more seamless and automated in the future).
Eventually all my sats popped back in my wallet and I could use the wallet just like before! 🔥
It's felt a bit like magic. I've spent so much of my time on crafting this seed phrase backup process, implementing testing it a thousand times, writing a spec and discussing it with other devs, but I never had to actually use it because of a real accident. Now, seeing it implemented so well by other developers and actually making ecash so more useful and safe to use is pretty amazing.
Ecash seed phrase restore is currently live or in dev in these wallets: Live: Nutshell, Minibits – Dev: Nutstash, eNuts, Macadamia.
Onward 🥜🫡
Nothing beats drinking your own champagne 🥂
On a related note, IT auditors deem that a backup *does not exist* if the recovery process hasn’t been used
In case anyone is still confused about nuts or what it means and why we always talk about it (me today haha), here is my know-nothing dummy explanation and why this is a big deal IMO:
Cashu is an ecash protocol(is this correct?) created by nostr:npub12rv5lskctqxxs2c8rf2zlzc7xx3qpvzs3w4etgemauy9thegr43sf485vg
People are calling them nuts because cashews are nuts... get it?
The terminology is irrelevant. They can be called tokens, air, water, chicken teriyaki.. it really doesn't matter! What matter is that this is a Layer 3 payment system that transfers tokens at the speed of light (or so I think). Lightning being layer 2, and bitcoin being layer 1.
The reason why this is a significant development is because now everyone has a cashu address. Thanks to amazing work by the legendary nostr:npub1mhcr4j594hsrnen594d7700n2t03n8gdx83zhxzculk6sh9nhwlq7uc226 , if you go to npub.cash you can see that you already have an address to receive these layer 3 tokens, which just happen to be easily redeemable into lightning. This means that any new person who joins nostr automatically has (custodial) layer 3 payment access, which can swap into layer 2 and into layer 1 and into fiat if need be.
I don't know any of the underlying mechanics of this, I am not a genius like nostr:npub12rv5lskctqxxs2c8rf2zlzc7xx3qpvzs3w4etgemauy9thegr43sf485vg and what I have described could be incorrect, but it sure feels like this is roughly how things work.
Nuts are custodial, meaning a mint is holding your balance and can look up your npub to see if you have some. Once called upon, these nuts can be sent to another nutter (cashu wallet) or directly to a lightning address! This interoperability makes everyone a layer 2 user. All we need is a clever UX toggle / button / terminology to make it really obvious.
IF this were to be turned into a library that devs could include in their client code and "it just works", THEN it could be a game changer! No more directing people on how to get a wallet right as they join. They can experience the magic of bitcoin indirectly via layer 3 > layer 2 transfer all without knowing anything (as long as they can get on nostr).
In practice, this means anyone joining an audio nest, a zapstream, a flare.pub can automatically get paid. Yes, it's just tokens, and yes it's centralized and custodial, BUT, they see the value instantly and are only a click away from digging deeper. It's a STEPPING STONE that makes it significantly easier to get onboarded into the new paradigm.
I have not been this excited since the discovery of nostr itself! If I'm mistaken somehow, or don't understand things correctly, please let me know and forgive my dumbass 🤣 And if this means what I think it means, then let's make magic happen!
thanks for that explanation 🙏
agree that cashu and fedi are definitely L3 protocols which make different tradeoffs
personally I'm excited to finahave the time I've been yearning for to play with cashu, nostr, fedi and perhaps help
I never played pokemon with my kids, but we did play some of the early Civilization (Sid Meier) games. They turned out to be fantastic fun and awesome learning tools for understanding how technology begets other technology, small can win over big, resources matter, and many many other subtle lessons
Stuff together is the best 🤝
Saylor Mode can now be activated on nostr:npub1xkere5pd94672h8w8r77uf4ustcazhfujkqgqzcykrdzakm4zl4qeud0en. On the website go to sell, type “saylor”, and nostr:npub15dqlghlewk84wz3pkqqvzl2w2w36f97g89ljds8x6c094nlu02vqjllm5m will be there to stop you from making the biggest mistake of your life. https://video.nostr.build/33bd7ac9498ded4f5f065ac250a7f225135cec1cb707176055baf32c4fa9327f.mp4
🤣 😂 🧡
if Batman's your type and he's available then go for it 🤣
when building, often good to take a little break to look backwards and see the progress made over time .. a month prior, a quarter prior, a year prior .. easy to forget enormous forward strides and vast quantities of heavy lifting that have made your product awesome
this particularly important as you get out of MVP stage and see future possibilities mushroom .. so many things to do .. so many possibilities 🤗
this is literally what friends are for
not acquaintances, not colleagues, not nerdnyms
lindy is a significant friendship strength factor imo
true friends irl are scarce and valued 🤝
Me spending a decade trying to help people understand bitcoin so they could protect themselves and their families. Only to now be derided as a bitcoin bro who’s wealth is “unfair and unearned”. https://video.nostr.build/5ff841577d517484e2140dfd3ed1fa266e7acb1538919c88db4a73400297ec5e.mp4
there's going to be a lot of this and especially from the salty brigade who knew and didn't buy (looking at you shiffty Pete), and those who had it and lost it doing stupid yield chasing (lookin at you Tina, and you Dan)
Bitcoin is opt-in
A lesser acknowledged feature but a crucial one
No-one will force you to use bitcoin, to protect your savings, or to gain future purchasing power, or transact with those you choose anywhere at any time .. it’s all optional
If one or more of the qualities that Bitcoin offers is valuable to you - learn!
If not, no problemo - move on, nothing to see 🤷♂️
It’s choices and consequences 
