I believe they're using Sparrow wallet so they can specify which UTXO to spend from. So people have been educating them. 🤙 We need to continue their education. Never stop orange pilling.

The NFT Degens coming into Bitcoin via Ordinals do not understand tokenomics, have very large unit bias, and don't understand scarcity. They just talked about only being able to have 21 million Inscriptions if each Inscription is selling for 1 BTC. 🤣

Are Paid Relays a Shitcoin?

Last night on Nostr Spaces, we discussed potential implications of paid relays. I believe we Nostriches all understand that paid relays are needed for 1) to pay for the service that we're using as nothing should be free 2) relay operators need funds to pay for relay hardware infrastructure and 3) to thwart spammers.

#[0] said that he thought that paid relays were Shitcoins. What did he mean?

With a Shitcoin, anyone can create one. There is no Proof-of-Work in this process. The creator makes promises about their current offerings or future offerings. And lastly, they want payment and take user's money.

#[1] mentioned that he believed paid relays should operator on a Web-of-Trust model. What does this mean?

Do you know the relay operator? Do they have an older or well known Nostr public key? Did they previously run a free relay? Do reputable people use and recommend this relay? It's fairly easy now to form a Web-of-Trust with well known actors in this space and community.

As we move forward, we do need to watch for scams. A relay and operator could appear out of nowhere. A relay could promise the moon on speed and resources. That relay and relay operator could also disappear in a day or a week or a month, after they've reached their fund raising goal.

Right now, using Nostream to operate a paid relay at least requires a ZBD developer account. This is right now behind a gatekeeper. #[2] needs to approve relay API access. This will get easier in the future. In the future, Nostream will work with other providers and I would assume even end up working with your own node. In the future, we'll need to be more diligent when choosing paid relays.

Start building your Web-of-Trust now.

At first I was really upset and protective. As time has moved on and I've discussed it more, my opinions have changed. I don't like it. I think it's dumb. And that's okay. I'm allowed to have my own thoughts and opinions. I can't tell someone how they're supposed to use Bitcoin. I trust that the system will work itself out given enough time. Until that happens, I'm looking at this as an orange pilling event. I'm helping NFT fans run Bitcoin nodes, Lightning nodes, and teaching them about UTXOs. It's great for Bitcoin...for now.

#Bitcoin is ₿etter.