Nostr Web Client

What about those hoarding sound money 🤔

when you hoard sound money that is capped in amount, you merely make that money in circulation rarer and more valuable - so it's not a problem

Replying to

Fiat Shenanigans 🤡🌎

Wrong take. When new attack vectors are discovered, it must be improved. By your logic Bitcoin would've been fucked in August 2010 when that dude figured out how to mint 184 million Bitcoin in a transaction.

It requires careful stewardship by intelligent humans.

SwissNode 2y ago

fix technical bugs, sure. You can't stop institutions BUYING Bitcoin - even wanting to is completely against the ethos of Bitcoin

Replying to

Fiat Shenanigans 🤡🌎

Bitcoiners are getting totally cucked and most of them are still defending this shit.

SwissNode 2y ago

Bitcoin was designed to be attacked. Either it sinks or swims. That was always the way it would go

Replying to

utxo the webmaster 🧑‍💻

When you thought you were building a global monetary system that would remove power from the state and put money in the hands of the people.

But instead you get ETFs, KYC, jpegs, shitcoins and custodians while governments and institutions are the biggest holders

SwissNode 2y ago

Bitcoin is for your enemies - nobody can stop anybody else from buying some - this is the use case that makes Bitcoin Bitcoin

Replying to Bitcoinbekka

Bekka's Baked Shop at SATurday Christmas Market in Calgary.

We are building the #bitcoin circular economy p2p

#grownostr #bakestr #foodstr

SwissNode 2y ago

are they priced in sats?

Very orange i must say!

Replying to

Stef⚡️🌍

12 blocks in a row with more miner fees than block subsidy #bitcoin.

SwissNode 2y ago

That is actually insane... kind of good news - time to increase blocksize by 2% i say! :D

Replying to

SelfBankt

At work today, heard ongoing stories of three colleagues from a team of 8 in the Operating Theatre talking about their direct relatives with aggressive, and likely terminal, recently diagnosed cancers - prostate x2 in 60 year old men & leukaemia in a 30 year old woman.

Anecdotal but increasingly hard to ignore. Two of them, both fully vaxxed, think a link to the vaccine is likely. They're now highly 'vax hesitant' and have told family members their opinions. The meme is spreading. #m=image%2Fjpeg&dim=1587x1173&blurhash=%23GI%3DZJ-%3DTeIBX.TJOYVEXT.TxbXmM%7Cx%5Bofo0e%3Dt7X-xbVrT0R%25xHsWr%3DW-o%23sVNwt7RPR5W%3DRijES%24WBS%23Rifki%7BVsV%3FnhNHV%40XRX9soWYR*s%3Arrban*f5tRn%25WBsmbbbI&x=5fed83a1caec52368cfb8fe01a738f3a2cfba74c87b66cef2d76f873c2aa4388

SwissNode 2y ago

VERY difficult to prove causality - people do get cancer for random reasons and there is a 50/50 chance of that hitting a vaxxed or non-vaxxed person - maybe it is 1/3 vs 2/3 but you get what i mean...

So a sample set of two people really is not enough to show causality here...

Replying to

Charlie Crown

I made this

SwissNode 2y ago

nice meme - however remember the principle "Bitcoin is for my enemies too"

The whole point is that ANYONE can use it...

Replying to

jack

patience

SwissNode 2y ago

cryptic

Replying to

Gigi

I wrote a short rant called "fuck easy" a couple of days ago. I've been listening to podcasts and after the 5th person complaining that nostr is too hard (is it, really?) I was fed up and typed this out on my phone. I hope that we can return to a point, culturally, where "hard" is okay, just like the first level of the original Super Mario was hard.

Coddling everyone's mind has led us to the upside-down clown world we're currently living in, and coddling everyone's body has led to less-than-optimal health, to put it mildly. In the Bitcoin world, coddling users and making things "easy" has led to Coinbase-by-default and other stupid bullshit, and I truly am fed up with all of that.

There is a better way, but the "better" isn't necessarily "easy."

SwissNode 2y ago

It IS a little tricky to remember the little details of how to start in Nostr. I don't find that a bad thing, just means there is an incentive to write a simple guide to make the tricky untricky...

I think Alby do a great job in making the hard simple...

Replying to

Gigi

Historically, the main use-case for "crypto" has been speculation (and capitalizing on this speculation), which is not necessarily in the "scam" category I'd argue. There's overlap, sure, but straight up rugpulls, running away with everyone's money, or not having any tokens in the first place (Worldcoin) is categorically different imho.

There's also (still!) a lot of misunderstanding of the "bananas on the blockchain" kind, which isn't necessarily scam-motivated, it just doesn't work and a lot of people that try to do it don't understand the fundamentals as to why it can never work. [0]

In regards to R&D: why does your R&D project need its own token, i.e. why do you need to re-create money from scratch to do interesting cryptography? (Spoiler alert: you don't.) The beautiful thing about bitcoin is that it monetized naturally [1], and you can use sats for your R&D (like Liquid does, for example).

In regards to Stablecoins: stablecoins are part of the "bananas on the blockchain" problem, and "stable"coin is also a misnomer. Stablecoins shouldn't be called stablecoins, but fiat-coins (which is a shorthand for purchasing-power-go-down-coins). Many "crypto" people don't know or don't care, because they operate on time-horizons of weeks, not decades.

Most non-speculative value outside of Bitcoin derives from regulatory arbitrage, as you correctly identified. What sets Bitcoin apart is that, additionally, Bitcoin derives its value from its credible monetary policy, which is credible because of its censorship-resistant properties (making a big leap here, but it's still true). It's the strongest and most credible, and thus it has the best chance of survival. It is the rediscovery of money [2] and the discovery of natural money in the digital realm (or, more precisely: the electronic realm, as it is "electronic peer-to-peer cash"—which is what makes it physical). There is no need to discover it again. Ergo, there is no second best.

TL;DR: I like your classification, but I'd add "speculation" as the 4th and main use-case.