We are all victims of a society that was never meant to work for us regular people. #nostrich #newtonostr #plebchain #nostrplebs #newbies #grownostr #repost #fact

Hi #Noster my name is Darina. I feel very fortunate to have met @dutch while wake surfing. She spent her free time that week teaching me about #bitcoin. Since then, she's been my go-to #BitcoinAngel for questions. Now, she tells me there are many here who are also into bitcoin like her, and some are even bitcoin developers.

I'm still new to bitcoin, but I'm eager to dive in and connect with more Bitcoiners! I’ll tell you a little about myself in hopes of learning a bit more about you guys.

I am from Moscow. I love wakesurfing, riding horses, photography (I’ve been a photographer for a long time), traveling, and coffee dates.

#Nostrich #NewToNostr #PlebChain #Newbies #GrowNostr #Modelstr #Girlstr #Damus #AskNostr #Photographer #Horses #Surfing #WakeSurfing

7 greatest threats to society:

1. Porn

2. Weed

3. Netflix

4. Feminism

5. The media

6. Central Banks

7. Transgenderism

Think I got them all, anything else? 🫡

#Entertainment #Nostrich #Newtonostr #Plebchain #Newbies #GrowNostr #repost

Anyone here switch from qwerty to dvorak?

Lunch time! I'm very busy today, so its eggs with leftover ground meat and fresh picked okra. Topped it with cheese and homemade hot sauce.😋 #grownostr #foodstr #countrylife

“We should change Bitcoin now in a contentious way to fix the security budget” is basically the same tinkering mentality that central bankers have.

It begins with an overconfident assumption that they know fees won’t be sufficient in the future and that a certain “fix” is going to generate more fees. But some “fixes” could even backfire and create less fees, or introduce bugs, or damage the incentive structure.

The Bitcoin fee market a couple decades out will primarily be a function of adoption or lack thereof. In a world of eight billion people, only a couple hundred million can do an on chain transaction per year, or a bit more with maximal batching. The number of people who could do a monthly transaction is 1/12th of that number. In order to be concerned that bitcoin fees will be too low to prevent censorship in the future, we have to start with the assumption that not many people use bitcoin decades out.

Fedwire has about 100x the gross volume that Bitcoin currently does, with a similar number of transactions. What will Bitcoin’s fee market be if volumes go up 5x or 10x, let alone 50x or 100x? Who wants to raise their hand with a confident model of what bitcoin volumes will be in 2040?

What will someone pay to send a ten million dollar equivalent on chain settlement internationally? $100 in fees per million dollar settlement transaction would be .01%. $300 to get it in a quicker block would be 0.03%. That type of environment can generate tens of billions of dollars of fees annually. The fees that people pay to ship millions of dollars of gold long distances, or to perform a real estate transaction worth millions of dollars, are extremely high. Even if bitcoin is a fraction of that, it would be high by today’s standards. And in a world of billions of people, if nobody wants to pay $100 to send a million dollar settlement bearer asset transaction, then that’s a world where not many people use bitcoin period.

In some months the “security budget” concern trends. In other months, the “fees will be so high that only rich people can transact on chain” concern trends. These are so wildly contradictory and the fact that both are common concerns shows how little we know about the long term future.

I don’t think the fee market can be fixed by gimmicks. Either the network is desirable to use in a couple decades or it’s not. If 3 or 4 decades into bitcoin’s life it can’t generate significant settlement volumes, and gets easily censored due to low fees, then it’s just not a very desirable network at that point for one reason or another.

Some soft forks like covenants can be thoughtfully considered for scaling and fee density, and it’s good for smart developers to always be thinking about low risk improvements to the network that the node network and miners might have a high consensus positive view toward over time. But trying to rush VC-backed softforks, and using security budget FUD to push them, is pretty disingenuous imo.

Anyway, good morning.

Holy crap, I just got my Nostr configured and already getting so much love from the community.

Have I found my people?🥹

do users really look at that? I certainly don't

WoT

SD card may have done the trick. 🤞

How would this fake account problem be solved on nostr?

I just ordered another book on timber framing. I have several projects to do and timber framing seems like an interesting option. Plus I have timber available and I'm already into old fashioned hand tool woodworking.

Where I'm kind of getting hung up is that I would like to do an infill that is breathable such as straw bale with natural plaster or something similar with good insulative value. I'm still thinking about that...

#grownostr

#homesteading

The more I ponder it, the more it seems minarchy is the ideal form of governance.

A minarchy is known as a “night-watchman state.” The power of the state is minimal, and limited to enforcing the non-aggression principle of libertarianism only.

19th century UK is an example of a minarchy that functioned quite well.

I've got an hour to listen to uninterrupted music, ehat should I listen to??