Avatar
Blake
b2dd40097e4d04b1a56fb3b65fc1d1aaf2929ad30fd842c74d68b9908744495b
#Bitcoin #Nostr #Freedom wss://relay.nostrgraph.net

A NostrGraph dashboard feature I was asked for, looks fairly easy to add. Basically clickable users for lists like “recently followed by”. I don’t have a pretty UI, but can make it open the JSON API.

https://api.nostrgraph.net/beta/identities/27f211f4542fd89d673cfad15b6d838cc5d525615aae8695ed1dcebc39b2dadb.json?pretty=true

Also, if you use Damus, don’t forget to check your “Request DMs” tab occasionally. At times I’ve missed them for days and days.. by not realising anything was new.

GM #Nostr

Lots of people have been using the Nostr Archives to download their events lately.

https://nostrgraph.net/archive

Right now relays are one of around five or so implementations. The issue is at some point when we end up with many more satellite (smaller) relays, malicious relays (or even software bugs) will start to appear.

Maybe trusted relays could have their events skip validation - however, at any moment validation could become really important to enforce client side.

I think that their (FAANG Rec engines) downfall is that they were designed not for personal value or rich communication - but solely for attention and advertising.

Algorithms are just simple transformations applied to a group of things. Not evil, or wrong (or right) - just instructional workers to do a predefined computation.

The main risk I see is self bubbling accidentally. And it not being noticeable as obvious. Like I may accidentally filter out all crime, and then not realise my street has had several recent break-ins and I should be extra careful. Or I could filter out all trump content and wake up with him as president again without knowing there even was an election.

It’s not a solution, but certainly an interesting stop-gap idea - I think perhaps we could get a relay running on some free cloud computing plans.

Ideally click to deploy. Basic admin panel for publish whitelist (solves spam issue, but limiting - maybe whitelist and following can publish) or similar. Download or upload events. Some basic stats or monitoring.

Could be a fun hackathon project anyway.

The challenge with inscriptions in my mind is they should never be worth less than their raw sat value. It’s backed by Bitcoin. Which means you at least know your lowest value price - or maybe not..

The disconnect I see is it’s attempt to stack more value on top of those base sats, with the effective risk being - how many transaction fees you pay for, how much time you spent creating them, how much you sell vs bad stock no one wants to buy, how much your costs could have been BTC gains if not spent, etc.

And sadly we’re in a gold rush phase where people think they will or might make a return. 99% won’t - just like every ponzi scheme.

So your floor price (read: return) can be less than the base BTC sats (and any premium you paid for fools gold). Scheme debunked. QED.

First time I’ve seen this error. I like the idea of more flexibility.

Investing is hard, and choice sometimes doesn’t make you a good investor. Your bottom two investments can take out your top two investment’s returns pretty easily. I’ve had lots of learning.

Active or passive investment funds - I’m fairly indifferent, except passive largely means a top end index fund. I’m not giving advise. And passive investing like Vanguard started a low cost management fee revolution and the reliable returns were amazing at the time - it just turns out it’s anti-innovation and promotes centralisation of capital, undeservingly so.

At least in Australia, ETFs were a decent advancement because it dropped the cost of getting in and out of positions, and meant you could do it without a middleman or paperwork. They become like shares.

For the handful of people testing NostrGraph where my relay had accidentally flagged them for spam, and dropped events, I’ve back populated your events now, and you should see any data that was missing. New events should populate as normal.

You can getter a better sense below. I have a fair few testers for now, but I’ll open access up more as I’m ready to handle it. https://nostrgraph.net/dashboard

Effectively they prop up monopolies by injecting regular cashflow, not because of their business value, but because of their current size and place on a list.

A few key points to make.

1. I have personal index fund investments. I have no idea where the money is invested - it’s a black box. Am I am Investor in a Covid vaccine bullshit Shop - I fucking hope not. Am I? More than likely, indirectly via index funds.

2. Countries like Australia with a super scheme (10% salary mandatory retirement contribution) force literally the entire workforce of Australia to invest in the top Australian companies. Unless you have 1MM plus to self-manage, you get the super investment flexibility of low, medium or high risk.

Four of the top six Australian companies (ASX) are all banks. Are Australian banks innovative? No. Competitive, no. Do Australian’s like the big banks, literally no one. Do the banks get reliable investment every quarter from everyone’s super contributions - yes.

3. Index funds have made sense from a risk perspective, because the indexes are rebalanced quarterly for example, and you effectively invest more in those valued higher than before, and less in those who didn’t track as well. However, when you have companies propped up like in Australia - you get the “too big to fail” problem that plagues banks world wide.. “we better bail out the banks again”.

It’s not as simple, and these are specific cases, however ultimately indexes are blindly funnelled investment into a common set of companies, at regular intervals (cashflow), without any real sense check or validation of value and merit.

However, I think Bitcoin fixes this long term. It’s diversified across currencies at least. And the more businesses that transact in Bitcoin, it becomes part of their growth too - without needing to invest in index funds to prevent deflationary pressure.

Index funds are a burden on society and innovation. Change my mind.

(Or reply if unsure why and I’ll elaborate)

Using the inbuilt Apple JSON support? Maybe we can try swap out to a faster external library?

The other major issue I see is websockets have no congestion management - it’s event by event, and a large event blocks all the smaller ones behind it.

Yep. Decentralised communications takes away influence from governments and mainstream media.

The noise will slowly die. We still have challenges around fake information propagation - and even AI content. However, it will be much harder for them to control.

TVs are dying as people use their phone while having it on in the background. It’s perishing as people’s attention moves to mobiles.

We just need to out invent the slow moving governments. They certainly have an advantage right now.

You can’t un-invent technology. Atom bombs, Bitcoin, the mining industry. Doesn’t matter what.

Our advantage is we can distribute processing power like never before and in a coordinated way. Data storage and battery life will be at turning points in a decade - where what can’t be done today on a mobile will be a shrinking subset.

I don’t know how to fix the governments obsession with making endless laws - other than at some point it’s too costly to enforce. Just like being fined for no mask during Covid - it was practically never enforced or paid. Or why bicycle theft is never investigated anymore.

We just need to out manoeuvre a slowly sinking ship… it will get easier. And in some ways maybe harder, but awaiting future solutions.

After we retake our basic communication freedoms, the next phase will be decentralised network infrastructure. We are at least a decade out - but it will be the next battle ground.

Centralised “internet” providers, including starlink or whatever else are bad long term.

And sadly it all boils down to ‘guilty before innocent’ assumptions, which is effectively the source of KYC.

Centralised services will be unable to break free from the states KYC obsession and control without ethics approach.