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evcz
cb302437811853e04d8b0f0899b603dde2d096a4f5232009e97dfe6110581d38
KISS methodology fundamentalist | Pragmatic | Crypto minimalist

+1 for phoenixd

at this time nothing can beat splicing as for easyness/flexibility of inbound liquidity management... hopefully there will be more counterparties sometime in future

https://phoenix.acinq.co/server

Saving the planet, two-stroke at a time

Replying to Avatar Samson Mow

Keep calm and HODL #Bitcoin.

Everyone seems to be overreacting to the Samourai arrests, the FBI PSA, and Phoenix leaving the US. Here's my attempt to break it down.

Samourai

You have to unpack all of the different elements. Could this be a state attack on self-custody and privacy? Maybe. Probably not.

There are a few components here that need to be evaluated on their own.

1⃣ Samourai was a self-custodial wallet

2⃣ Samourai was a mixer

3⃣ Samourai was providing normal people with privacy

4⃣ Samourai were knowingly marketing the service to criminals and flaunting that fact

Reading the charges, it seems like #4 is pretty cut and dry for this case. Their getting arrested for #4, doesn't automatically mean #1, #2, #3 are under siege as well. If Samourai was a taco stand laundering money and bragging about it, I'm sure they would be taken down too.

They may be accused of running a money transmitter now, but that may or may not stick. We'll find out in the trial.

All that said, we should always be vigilant to attempts to erode privacy and the ability to self-custody. It just does not seem that this fight is *that* fight.

FBI PSA

Seems pretty normal that the FBI would advise people to use compliant services, and the entire announcement seems to revolve around potential disruptions due to Samourai being taken down, and potentially others in the future. Given they took action, they have to post some bulletin about it.

Remember that when people lose funds or have funds stolen from them, they do go to the FBI for help. From their point of view, the best thing for people to do is use compliant services where they can potentially help.

The announcement concludes saying that services that purposely break the law will be investigated - so again we go back to #4 above. This is nothing new, and self-custody is not being criminalized.

Phoenix Leaving

As nostr:npub1sg6plzptd64u62a878hep2kev88swjh3tw00gjsfl8f237lmu63q0uf63m said, it's feels completely unnecessary. Phoenix obviously is not a MSB and they are not doing anything illegal. In my view, their exit from the US app stores is a complete overreaction.

Keep Calm

Could "they" come after wallets, developers, mixers, nodes, LSPs, sidechains, eCash, VPNs, encryption, etc? It's totally possible. But if you're not breaking the law, you have nothing to worry about.

To my knowledge, there is still rule of law in the US, property rights are still protected, and privacy is enshrined in the Bill of Rights (nostr:npub1trr5r2nrpsk6xkjk5a7p6pfcryyt6yzsflwjmz6r7uj7lfkjxxtq78hdpu).

It would be very difficult to change the law or stretch it to incriminate these things because it's all just information and software, which is speech. Some will try. But as they are trying, #Bitcoin is becoming more and more mainstream and integral to the world's financial system.

#Bitcoin is freedom technology and it will continue on.

Go outside this weekend and think about why you're here.

What ACINQ did could be a wake up call

nostr:note13xrpfjjc39z8ky9y55r7w3jxfel8g47vhkd76k3m2lczxj4cn59skgcc5z

Looks to be muun: it does lot of on chain and "turbo" things behind the scenes...

*The Rare Sat Lie*

Let's start with some facts.

You cannot own a satoshi (sat). You can only own a utxo, who's value is measured in sats. Just like you cannot own a "kilogram" but you can own something which weights a kilogram.

The idea that a sat can be rare is a lie, since sats don't exist.

A utxo also cannot be sold, because as soon as it is spent, a completely new utxo is created, and the creation of this new utxo makes the previous utxo (which you wanted to sell) spent. To act of spending "an unspent transaction output" (UTXO) transforms it into something fundamentally different, a "spent transaction output" (STXO) and creates a new UTXO.

The idea that a utxo can be sold is a lie, since even utxos cannot be sold.

The idea that a rare sat from a "special" utxo can be bought is thus a double lie.

*Rare Sat Sophistry*

The conmen, the useful idiots and the otherwise honest but contrarian pundits will rationalize the spreading of the "Rare Sat Lie" with sophistry and appeals to libertarian morality such as "it's a free market, people can believe whatever they want and waste their money however they wish".

Of course, this line of reasoning is meant to create strawmen arguments so that every person that is righteously indignated at the spreading of these lies can be painted as being opposed to the concept of individual freedon itself, which immediately places the TruthSeeker's outrage outside of the Overton Window (and subject to ridicule).

Let us dispell the strawman argument.

The "market" (a small niche of degenerate gamblers) can want whatever it wants, yes. But it till cannot change the reality that individual satoshis (sats) do not exist as "things" or virtual objects. This reality is not subjective.

The sophists will also rationalize that "it cannot be stopped" and thus all you can do is "cry harder" (ironic eh?) and that any and all attempts to combat the lies are futile (at best) or stupid.

It may be true all the truthseeker can do is cry and shout, but it is also true that to combat the spreading of such lies is a virtuous and noble pursuit. And it is also true that the direct result of the shouting can be to save a victim from otherwise being conned. Which is, we would all agree I hope, a moral good, if not a moral imperative.

People are free to spread the lie that such things ("rare" "sats") are real, and fraudulently sell utxos of low value presented as "rare" "sats" for utxos of higher value, but to do so by exploiting the ignorance of people and confusion around the complex technology of Bitcoin is evil according to nearly almost moral code that ancient and modern civilizations have produced.

I am the last person that would deny someone the right to be evil. But I believe if you see a fraud and you don't call out the fraud then you too are a fraud.

So, the strawman is really just straw.

*The Rare Sat Con*

Beyond it being morally bad to spread lies generally, the spreading of the lie also occurs within the context of textbook confidence trick.

Confidence tricks involve :

- the mark: the victims whose money is to be acquired fraudulently

- the roper: reels in the mark via exposure and marketing, peaking the curiosity of the mark (i.e. a conference or media organization)

- the inside man: provides a venue for the con to take place, or supplies goods and services used in the context of the scam (a mining pool or a marketplace)

- the conman: gains the confidence of the mark extracts the money (the seller of a rare sat)

- the convincer: an acolyte of the conman which gives a taste of the profits to the mark either by investing in the mark, or showing off his profits to the mark (a fellow rare sat trader)

The conman and the convincer can interchange roles. For example, conmen and convincers can publicly con each other repeatedly and alternatively, with gains and losses which compensate, with the tacit understanding that the goal is really to gain the confidence of a mark from which both convincer and conman can extract money from.

Everyone except benefits in this zero sum game, except obviously the mark.

In the end, the mark was never forced to give up his money. He willingly parted ways with his funds, deceived by the confidence trick.

Selling "rare sats" for utxos of higher sat value is without doubt a confidence trick.

I will let it up to your imagination who you think plays which role in the rare sat con.

Your can sell the private key they gives access to those satoshi...

3D or paper?

On paper I guess there will be a lot of pain due to bad source images resulting in bad prints leading to complaints/chargebacks

Replying to Avatar Ava

me: monero is an awesome addition to bitcoin (it is), one for stacking, the other for private spending

the church of satoshi nakamoto of latter-day bitcoin saints:

#m=image%2Fgif&dim=360x360&blurhash=U7B%7By6JC00%7D%40MKIpPV-U%25N%24%23MxIo0Ls.%5EkI%40&x=7ca64596798d52d8d04e9a72fae20d32b7d94772c643af46a71cbdf5c551782f

lol. not saying this about everyone, love my bitcoin fam, but it needs to be said that the 'toxic btc cult' reputation seems well earned for more than a few of you.

it's generally the one's who just parrot blanket 'btc is the saviour, everything else is a shitcoin' statements, don't speak with their own words, link to sources they don't really comprehend, think nostr is private, only recently learned why they need a vpn on the internet and don't actually understand how all this privacy stuff works.

harsh? yes. so have recent comments been. bring it. love the free speech.

again this is not for most of you #plebchain. most of you have level heads and still love bitcoin. i am an avid bitcoiner, but i don't drink the cool-aid and ignore it's shortcomings.

bitcoin is about freedom. privacy is essential for freedom. it is complicated to have privacy on a public ledger. bitcoin is an awesome store of value, but it needs a 2nd layer for greater privacy and to solve the fungibility problem. lightning is maturing. cashu is also maturing. monero solves the spend issue now with privacy baked in on a protocol level. it is currency. it's meant to be spent.

#cybersecgirl #privacytechpro #bitcoin #monero

In bitcoin you can also "move" private keys to transfer value off chain

Replying to Avatar OpenSecret

Release time!

In our biggest update yet, we've completely redesigned the home screen, added a nostr-based profile setup walkthrough, and have finished our initial fedimint integrations by adding a federation discovery & recommendations!

Most lightning wallets these days are what we call "invoice-oriented." We want to go back to the basics to solve what people are really trying to do: paying a person. We've added a new wallet creation flow to make the wallet about you!

The new version of Mutiny now allows you to create a new nostr profile, or import a nostr private key from an existing profile. From there, you can now DM other mutiny & nostr users to send or request money directly from the app. No more copy / pasting invoices!

To double down on social, we've redesigned our home screen to put people first. We now include a row of recent profiles for quick access. We also now have tabs on the home screen for looking at your payment activity, your friend's zap activity on nostr, and your payment requests.

Next up, better fedimint support!

Mutiny has had beta support for the fedimint protocol for a couple of months now. Instead of opening a lightning channel on your first receive, with a minimum of 100k sats, you can get started on a fedimint with just a few sats.

This new update adds a way to discover available fedimints to join. Naturally, the discovery process is powered by an open protocol built on nostr. You can see who recommends a federation, and add it with one click.

You'll automatically receive funds to that fedimint, as long as the amount is smaller than 200,000 sats, and you'll automatically spend out of that fedimint, with a fallback to your regular lightning balance. You can also swap from fedimint to your lightning balance at any time.

Coming up shortly after this release, we'll be adding federated lightning addresses that lock incoming payments to your key, which you may redeem at any point by coming back online. We'll be rolling this out to Mutiny+ users first, stay tuned!

Let us know what you think! We're excited about this new direction and need feedback to help us continue driving forward.

https://blog.mutinywallet.com/mutiny-new-design-people-oriented/

Mutiny matched all Satispay (Italian cashapp) features... With better on-boarding, better privacy and self custody

Insane what bitcoin+lighting+nostr can do 🀯

nostr:note1ay0s0r3az79c93e5pzk3egxlk4ahu784qngcwj3n329q9l3dh8xqdwgcx5

Self hosted that is the one with most features and integrations

Costodial / 3rd parties there are many options... One for example being bitfinex pay

Most complex part as merchants with lightning is managing inbound liquidity... That is something taken care by custodial solutions like bitfinex pay

Instead of "expecting": we make things happen...

Like if your nodes do not have a satellite backup connectivity already in place that would be something quick and easy that results in some small redundancy I'd say... even the cheap starlink one is a great start for off-grid reliable connectivity