If these funds trim on pumps they must also allocate on dumps. I wonder the timelines and what this ultimately does to Bitcoin spot market. Seems like a neutering effect.
Lightning is dead push over on the bird seems coordinated and overstated. There’s a couple challenges namely inbound, route failures, open/close costs. 1 and 2 seem solvable 3 might be a bit more challenging.
Yea I have a big channel with ACINQ and I bought 12 million in bound from LNBIG 3 years ago. My only other channel is with my own Zeus embedded node/wallet. Most my spending is Bitrefill Amazon gift cards. Great way to balance a channel if that’s your thing.
I have a channel with ACINQ I wonder if they are going to close it.
BlueWallet still has people turning up, remembering their Lightning wallet, wondering how to recover. They gave a way longer lead time.
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.
They hit a mixer and it’s not the first time. Who knows what Phoenix is up to. If Apple had informed them of something other wallet apps would have also received the memo. Even if the app stores fall, what are they going to do make running sparrow or core illegal? The government SELLS and holds Bitcoin.
I placed an order. Paid w BTC pay lightning. It’s not clear if the address get attached. Also the 2 separate BTC/Lightning choices seem redundant. Excited to receive the order!
A direct hit focused on Liz Warren this election will let the others know what time it is.
Knock Liz Warren out of the Senate is the best way to let em know.
Looks like nostr:npub148qm45zettnf6ekgkatnyfadunxwjpu8sy88mjdsgwc5f202d93qmejra7 is pulling out of the US. If you're sick of jumping through hoops due to the whims of the tyrants in your government, check this one out.
Here's how to avoid app stores entirely and use the nostr:npub1mutnyacc9uc4t5mmxvpprwsauj5p2qxq95v4a9j0jxl8wnkfvuyque23vg PWA in 5 minutes flat, including migrating your funds. LFG.
They are going to offer a 1 time move to ETF
We hold these truths to be self evident
Dumped gas in the creek and lit it. Almost burned the park down.
Tossed a cup of gas in fireplace wet wood wouldn’t start it shot flame to my hand, I tossed the fireball and burned spots all over mom’s new carpet.
Stuck wire in a socked and the next time it was used was me plugging a god forsaken electric mower. Flame shot out of wall burnt my hand. Mom would crush the Codeine in applesauce which I puked all over neighbors front porch while working donations for jog-a-thon.
I have no idea what runes are and really don’t care to find out. I assume this too shall pass.
Happy Halving we shall celebrate with Traditional TBone Steak. Half NY Strip half Tenderloin.
lol. Dude you can try to shake me out of Bitcoin if you want but just know I feel nothing.
That was the WWIII dip? Bullish.
Is that Tokatee? The smoke after about a week got to me. Then I got claustrophobic a bit because the entire west coast was lit and it was Covid so I suddenly realized I was trapped. Then that winter we got iced, and our power was out 11 days. That year was WILD.
If we assume Bitcoin base layer = gold, and we understand both base layers aren’t hyper transactional, we see gold uses paper coupons for currency while Bitcoin uses Lightning Network as currency. If we compare Paper debt notes to Lightning vs comparing Lightning to some shitcoin with no solid footing it’s clear Lightning is vastly superior to Debt Notes in just 8 years existence.
Still challenges for Lightning especially in the channel opening and liquidity management realms. But these seem to be solvable or at least manageable vs the ability to fix paper to an set amount OZ of gold.