*Maybe* you're confusing with the definition of a nation and a state.
A nation is a group of people that identify as one group. A state is the governing body elected/chosen by/for the nation.
Do you agree with this?
What is your definition of "a state"? How different is it from a government?
There should be a place for Nostr devs to post. A Nostr developer community.
Are you calling nostr:npub1g7lqk25fl24xd0zh7hr8jgp5smdy2eszjh9nmv7z7w85h6xcs9hq4u8yd9 a clown?
I think he simply has different values. And different conclusions.
Ahahahahaha.
This thing has such low backing that it js still called "Merge PR 29778"
OP_CAT is what I can see get included in a soft fork. Good backing.
And no, we're not changing the issuance of Bitcoin. There can only be 21m Bitcoins.
Everyone wants Bitcoin to succeed and save us from the fiat hell. They just disagree on how.
I feel some discomfort saying this out loud in here. But I want to stand up beside my tribe to fight the dominant tribe that disagrees with us.
"Runes, Ordinals, L2s, transactions all create demand for the Bitcoin blockspace and we should welcome them instead of shunning them. "
If you can convince me otherwise, I am willing to join your tribe.
Our tribe: nostr:npub1aemj48k9pu7xvn8rtqaz84leuqmdfc6n7ydffvk3zyf3vhfaemvq6820rd nostr:npub1cf3zeytdnwgwzz5pk2ax0vvmmlzad03xcft4d50ejrfhsh8pxcdsefx7gk (add others)
Bitcoin solves a lot of things, including being a currency for adversaries of nation states like Russians, Iranians, drug lords, and now gamblers. Drugs and gambling as a whole is not Bitcoin's problem to solve. Let us not get distracted. Let us find better solutions for problems at hand.
Yup! I was very happy! We'll get there again soon enough I'm sure. 💯🙏🏽🤙🏽🍻
Btw happy halving!!!!!! Cheers! nostr:npub1hv64t0jlg94p0tpq6zc8mrc5kyfhzwwn8fxp6m45jwdn9pmfs53q0yrjjm !!! Happy to follow you here on #nostr
Happy halving!! Happy to follow you as well!!
A few cents? Last week? I paid $20+ for a transaction recently.
Yes. It is a problem. The notion in the Bitcoin land is that people should HODL bitcoin. Never spend it. If everyone holds bitcoin, who's transacting? Even then fees were $5-$10 before the oridinals craze.
Now I have traveled around some third world countries in Asia, South America, Africa and even Eastern Europe. Let me tell you, no one is using the main Bitcoin network for day to day transactions. $5 per transaction is absurd. They are using centralized solutions.
Only people from the first world countries were using Bitcoin to transact. Lightning does not scale as well, we all know it. We need better solutions.
Keeping the fees down socially by shunning the gamblers is not the solution and infact is a problem as miners will slowly move on. Bitcoin was built on economic incentives, not social.
I don't see that happening. Unless the seller auctions off the tokens. Since runes are fungible tokens, there will always be other people selling you those tokens without the fee spike.
What values do you hold dearest that we can debate on?
Yes. It was a hypothetical argument from them. Not me.
I explained a bit about this here.
Yes there will be MEV on Bitcoin. Mining pools will accept tips to have your transaction go through vs others. But wasn't it possible before this as well? Say I want to buy a $1B worth of Oil using Bitcoin. The king of UAE says the first Bitcoin transaction to hit his wallet will get the oil. Others will be refunded. If you wanted that oil, you would be willing to pay millions to the mining pools to land your transaction first. Isn't that MEV?
Monotonous, anonymous transactions might not lead to MEV on Bitcoin but Bitcoin is a public chain with many known entities. It will lead to MEV one way or the other.
I watched the video but it just says you can make changes to the Bitcoin protocol to fight against a nation state attacking the network with 51% of ASICs. How is this a solution? What is that change?
Bitcoin has very limited blockspace. It is not meant for people transferring 100s of $. It's meant for much larger transactions. The only way you'll transact on Bitcoin is if the value you get out of this transaction is worth more than the fees you're paying.
So when the Bitcoin network is used to buy 100 BTC worth of Oil from the UAE, they do not care/about the $100 transaction fees.
1. We need transactions to generate enough revenue for the miners. (Pls tell me if you disagree on this). Else, miners cannot be profitable and will move on to doing other things. Then Bitcoin mining will become a lot cheaper and the price will spiral down with many 51% attacks.
2. There isn't enough demand for the blockspace by pure transactors alone right now. But there is demand for other speculative assets that are put on Bitcoin. Thus, there are more transactions happening right now to create and buy these useless things. a good thing.
3. Anything can be bought and sold using bitcoin. It is similar to buying and selling drugs using Bitcoin, are we against it? Are we against Russians using Bitcoin? No. Why are you against people gambling on Bitcoin? It is a free network.
4. Gambling is not Bitcoin's problem to solve. Trading these useless things is a zero-sum game. People will most likely lose their bitcoins. It needs to be solved by us as a community. We should be against gambling on any chain.
5. With these things in mind, we should things that are valuable enough to justify $1000 transactions. Whether it is an L2 block that amortizes transaction fees among a lot of people and settles on Bitcoin or someone that wants to put an image on Bitcoin for history to remember. It should be allowed.
To your point, we shouldnt keep the fees low because we want people from third world countries to transact on Bitcoin. We should scale Bitcoin to accommodate all of their transactions. Scaling is done by building L2s that are more valuable than trading runes or ordinals. So the value you generate by enabling thousands of people to use Bitcoin will be greater than the mere $500 transaction fees.
If power becomes cheaper, its cheaper for you and for the attacker. How will that mitigate the 51% attack?
I wouldn't say I'm against L2's but the ordinals and inscriptions and all that shitcoining yes 100%
lightning has its problems and it's only a short term solution but I'm bullish that better L2's will help us scale bitcoin.
have look at https://brqgoo.medium.com/introducing-ark-6f87ae45e272
no promises but it looks like maybe it's going to be VERY useful in the coming years
Shitcoining using Ordinals, runes, etc., isn't the best. But we are yet to find better solutions than gambling. We will find better solutions.
L2 scaling is for sure the way to go but this is the path we have to take. Shitcoining on Bitcoin could be a fad that dies but the Bitcoin blockspace utilization will not die. Non-gamblers will only open their wallets if they find something more valuable than the bitcoin they hold. We will find those usecases.
Its true. Miners need enough revenue to keep competing and keep the difficulty high. With every halving, miners revenue is cut in half.
Bitcoin price will keep going up, you can say, but USD is a shitcoin, if we don't generate enough BITCOIN revenue for the miners, the hashrate will keep falling and we will be more and more vulnerable to nation state attacks.