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Guy Swann
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“The Guy who has read more about Bitcoin than anyone else you know.” Adjectives: Smart/Sexy Host of Bitcoin Audible 🎧
Replying to Avatar HoloKat

Amazon launched in 1994 with Bezos parents help. Company went public in 1997, this means it was floating without profits for 3 years. Going public gave it access to funding (this is literally the market - the same market that would exist on the bitcoin standard, maybe not as generous).

Obviously investors saw potential, or they wouldn’t buy Amazon’s shares (I don’t know if index funds / passive money was a thing in 1997).

According to my handy AI prompt, it became full-year profitable in 2003. So it was floating on market sentiment for 6 years, not quite a decade.

The big unknown for me is exactly how mucH VC money Amazon raised, but it sounds like it wasn’t much. ChatGPT seems to think it was 8 million from one VC (not a big deal if you ask me - especially if they understood Bezos’ vision).

I don’t buy the idea that the bitcoin standard would basically humble any company trying to achieve scale because those companies would still have access to the same markets (perhaps more conservative, but still ready to fund the right companies). We have to also assume that on the bitcoin standard, bitcoin is not going to be ripping 40% year over year. In bitcoin terms, the yield would be much less, and investing in companies would still make sense if they can achieve scale.

Is Amazon and the likes destroying competition? Sure. But are they destroying value? I am not so sure. Insane profit growth seems to indicate they are providing much more value than any single smaller business could. I also don’t see why it would not provide equivalent value on the bitcoin standard. It’s not like smaller companies would be all the wiser all of a sudden to do just as good of a job or better. If they could, they would be. They too had the same access to VC funding at that stage yet here we are.

Well then Amazon might not be the prime example for this problem then.

The frustrating thing is that we can’t know without ever having had real interest rates during that span. Although interest rates during the 90s were far closer to floating. It wasn’t until the early 2000s that the price controls got really bad.

It says that these don’t make economic sense as massive, market dominating corporations. It means that on a bitcoin standard they would be far more distributed and competitive and the value provided would be catered to more specific and smaller audiences and would change more based on locale and other factors.

If you think that it means we can’t have what Amazon offers without a giant, corporate, unprofitable, VC backed institution to suck up the whole market and push everyone else out, then I think you are misunderstanding the nature of value and how the market provides it.

To the contrary, Amazon is *destroying* value, because there is a better and more economically sensible optimum for providing the service. Evidenced by the fact that without being subsidized and killing 1,000 competitors while losing money for a decade on cheap fiat loans and VCs, it wouldn’t have lasted. It would’ve had to provide net value *much* sooner and at a smaller scale.

This would literally NEVER have survived without the fiat standard.

Same with companies like Amazon. It would’ve never been possible to get that big before ever making a return. nostr:note1xt6nst390c0klt39uqzfkmx06mcu6pyt6rkht6xvd4c26zj8ap9qr7a00x

Everyone making a wallet and node client: Do it like nostr:npub1getal6ykt05fsz5nqu4uld09nfj3y3qxmv8crys4aeut53unfvlqr80nfm

Better yet, use what they did and figure out how to make it just a little bit better. But regardless, copy the design of the projects that get it right. 👏🏻🫡 nostr:note1e5acpywutv0q39atn6x2kvl2pg3zypuqa4dlf46ldj47szv53xsqryukg5

19 minutes isn’t a long block. Thats actually extremely common. It’s the 1+ hour blocks that are rare, but they also happen... most often when I need a transaction to go through quickly.

Some of us have trouble. You should reach an online course to help us out

I don’t like Trump, and I have very little faith in govt ever being a positive force. It’s at least never moved anywhere but in the wrong direction for my entire lifetime…

But, an RFK Jr, Tulsi Gabbard, Vivek, Elon, and Ron Paul cabinet with the balls and conviction to try and fix things is really hard to not think would be awesome.

Best thing was just remote wallet use and then my own personal mempool.space

But using it while away from the house has always been frustrating and slow. But with NWC and then with Holesail having the full app soon I think that problems gonna be solved.

I use my Start9 a lot but I can easily see my frequency if using it double very quickly with these new tools integrated.

I believe he’s alluding to the fact that we don’t own our devices or what we can do on them these days. I mentioned iOS so figured that triggered the thought. Could be wrong tho 😆

Yeah it uses NWC to talk. Was using it without trouble in Lugano. (Until my power blinked off at home 😅😭)

It spikes real bad for short periods every so often. Not out of the question but I don’t specifically remember it.

Man, having Alby Go plugged into my Start9 with Alby Hub is just the coolest and cleanest implementation.

The wallet is so basic, and having one tap zaps finally on iOS even is just awesome. It works fast. It stays connected and I haven’t gotten any errors yet. And I can read everyone’s Nostr zap notes because I get zaps straight to my sovereign Lightning wallet.

If this is a preview, the future is gonna be lit AF. 🔥

Cash App is super underrated. I’ve gotten a bunch of people into using Bitcoin simply because I was able to show them how easy it was with their Cash App. I just tell them how to get their address or Lightning invoice and then send them some. The rest of the process is self evident

Happy Diffie-Hellman Day!

On November 1st, 1976, a paper was released to the world titled "New Directions in Cryptography" by Whitfield Diffie & Martin E. Hellman. Marking the first practical protocol for safely exchanging cryptographic keys over a public channel. Initially conceptualized by Ralph Merkle, and then actualized in the Diffie-Hellman key exchange.

Happy Halloween 🎃 👻

#Bitcoin

I don't know of a good way except to call them out publicly and label them what they are.

Also important to build strong communities that refuse to accept that shit and then outlast the fools who get swindled by them.

There is no short term solution that doesn't feel like hacking at the branches, imo. But long term I think consistency of message, calling them out, and showing and reminding everyone of the outcome over and over is the only decent option on the table.

Ah, but what if you regularly GM in the afternoon to throw them off? nostr:note1vtu2la46tk029fq7m64rla5r60mltgulmwcsdnd0acgvl2mtyu3sm07s88

I get so excited about taking a video just for my wife to show Rad of the dumbest little things that I just know he is going to think is SO cool. 🤣 nostr:note1zrszxhyvzgfcwk7nfu9cnwtscuu0apv0avnsggh52lw4dw58frtqp3w0m2

How is it that after all this time people still dont understand that owning #Bitcoin doesn’t mean control over the network?

It will take time to unlearn the fiat frame. Thinking that only *certain* people should own #Bitcoin or it’s in trouble is the opposite of why it exists.

#Bitcoin privacy with a hell of a panel… https://v.nostr.build/eCghasSGYrFDczDh.mp4

I’ll investigate again when I get back, sessions was saying he was getting the same thing until Albyhub, but it’s connecting with the same tool. Seems like it’s likely something weird with whatever service that’s running it rather than LND connect specifically.

Finally got my Coinkite shirt 😆🫡

Replying to Avatar dshf

Yeah nostr:nprofile1qqsyv47lazt9h6ycp2fsw270khje5egjgsrdkrupjg27u796g7f5k0s8jq7y6 hub is pretty much the UX that is needed for Regular Joe even if he want’s to become Uncle Jim.

👌

Eh not regular joe, but close. I would say this is the UI for the prosumer computer guy. I can’t still see a lot of areas where someone will feel confused or overwhelmed. It’s hard AF to make the complexity of all of these tools intuitive and simple. But they’ve made an incredible step in the right direction and showed how good it can be if designed right.

The hardest thing about being successful isn't obtaining wealth, it's keeping it.

— something i heard once that stuck with me