I've been thinking too much about NFC payments lately. It would be insane if we could achive card-to-terminal payments one day but I think challenges with storage and coin selection make the naive approach (store nuts on card, terminal takes them out) infeasible in the short term. However, we can still achieve a lot with phones.

The naive approach with phones would be to send the nuts directly via NFC form device to device. This is possible in Android through Host Card Emulation (HCE) where one phone can pretend to be an NFC card with data on it (the nuts) and the other phone simply scans it. Unfortunately, Apple will never allow us to use their (your!!) hardware for HCE so we shouldn't depend on it.

There is an alternative approach though, which use payment requests. Payment requests are a work-in-progress Cashu NUT protocol update. They are generated by a receiver to tell the sender how to send them nuts. They include information transport methods (how to reach the receiver), optional amount and receiver pubkey. For example, a payment request can say "send 100 sats to this HTTP endpoint, or DM this pubkey on nostr". It can also include instructions to lock the tokens to a pubkey. A payment request can be shared as a QR code, which can be scanned by another cashu wallet that then makes the payment (similar UX like Lightning invoices).

We can use payment requests in combination with NFC to make a very good payment UX that works with Android, iPhones, and on the web (webnfc). If we put a payment request onto an NFC card, that card can be scanned by a sender's phone. The sender's phone could then do the coinselection and send the nuts via nostr to the receiver, for example. This would basically be almost instant. A web wallet like cashu.me could even generate payment requests and store them on an NFC card (from the browser) which another cashu.me wallet could scan (also from the browser) to make a payment. A little bit like a cursed PoS system.

Should be further explored!

Today I signed up for a foosball tournament.

I have not played for a few years so let’s see how it will go.

I'm struggling with understanding Michael Saylor's base case of 14 million USD per bitcoin in 2045.

He says that Bitcoin's market cap represents 0.1% of total global wealth today (relative market cap), while his base case scenario assumes that this goes to 7%, which is a 70-fold increase.

If we look at the historical annual average increase of the money supply USD, we know that it's about 7%.

If the money supply continues to increase at this rate, it means that in 21 years the amount of money has more than quadruppeled (≈ 4.3).

Today the price of one bitcoin is 63,000 USD.

4.3 x 63,000 USD ≈ 270.000, which represents the M2 adjusted (monetary inflation adjusted) price over a 21 year period.

Saylor's base case of 14 mill USD represents 52 x today's price, adjusted for the increase of the monetary supply.

I don't understand how a base case of 70-fold increase of Bitcoin's relative market cap translates into just a 52-fold increase in the real, M2-adjusted price.

Wouldn't it be logical that the real, M2-adjusted bitcoin price increased more than Bitcoin's relative market cap?

After all, we're talking about an asset with absolute scarcity, while global wealth, on the other hand, normally would grow.

What am I missing here?

All African Stream pages on Meta platforms have now been taken down on the instruction of the American State Department. That includes Facebook, Instagram, Threads and WhatsApp.

We are now at a crucial inflection point in modern African history where once again, white men are showing up attempting to physically wield direct colonial power over African people, after decades of wielding a more indirect neo-colonial influence.

Once again - as it was in 1930 - the accusation being used to justify the direct colonial excursion into African political discourse and everyday life in 2024 is "wE aRe fIghTinG ThE rUsSIanS."

The inevitable Twitter ban can honestly not come soon enough, so that the Empire will effectively motivate a critical mass of young Africans - myself included - to abandon centralised platforms based in the US and embrace decentralised platforms like Nostr, which we all know are the future.

3rd escape attempt from Elon-traz 🤞🏿

Hello Nostr!

This npub will now be a primary outlet for Bisq news and announcements.

New posts will be published here and then cross-posted to the bisq_network X handle.

Decommissioning X will be considered when this npub has more followers.

Hello Nostr!

This npub will now be a primary outlet for Bisq news and announcements.

New posts will be published here and then cross-posted to the bisq_network X handle.

Decommissioning X will be considered when this npub has more followers.