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Toby McMann
cfc09e2c78fe9d5566c6c0f85cfd433dde0c95ec40b44e12a1ecf900fc373afd
Bitcoin enthusiast | Nostr only Nosce te ipsum

Keep after it, ODELL. The hypocrisy of these supposed bitcoin personalities who spend most all of their time on centralized, captured platforms, and come up with all the stupid reasons justifying their decision to do so, only reveals to the world what they really care about. Hint: It isn't you, or freedom.

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/

Holy crap. Mind blowing. Cant wait to try it out. The integration with Nostr is insane.

Replying to Avatar fiatjaf

nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx has deleted his huge Twitter account, meanwhile clowns faking as Nostr supporters such as https://twitter.com/fiatjaf keep their accounts up.

Some of us never did social media before NOSTR. Yeah, baby! PV.

Powell is popping the sovereign debt bubble. Holy shit.

Replying to Avatar Bitcoin Mechanic

Someone paying $389 to move $1.94.

547,000 sats to move 2730 sats.

Why?

Because this has nothing to do with Bitcoin and doesn't make any sense from the network's perspective.

People who take comfort that behaviour will remain predictable thanks to economically rational decision making need to know it goes both ways when you start taking in external factors.

You have to do it with miners too.

If a miner can make more money in ways that have nothing to do with bitcoin then you can no longer rely on simple assumptions like "miners will do X because if they don't then they will make less than a miner who does"

The simple example I've used many times is compliance.

If you have a choice between expensive legal battles and exclusion informed by government blacklists (i.e censorship) then it's economically rational to do what's economically irrational.

"You left $500 in TX fees on the table! Why?"

"Because our lawyers advised us that this would save us several million dollars."

We have a case-study of this exact scenario with Wasabi Wallet.

So if this is true, what does it have to do with spam? From a miner's perspective, spam is simply a free lunch.

What's the downside?

The issue is we've been standing on shaky ground when it comes to the assumptions we've made about the choices of miners. Myself included.

It turns out there are instances when economic rationality works *against* the interests of the wider network. It's obvious, but apparently we're all surprised that this it the case, or straight up in denial about it.

Spam is that exact scenario. Blocks are far larger than was ever supposed to be possible with the introduction of witness-discounted data. We see block after block at what was meant to be a theoretical maximum of just under 4MB.

There is no room for interpretation. This is simply harmful and the result of a nasty attack.

The entire basis on which the blocksize wars were fought was that encumbering nodes with way more data would lead to centralization. (Along with a host of other issues, like centralization of mining & pools).

The simple solution is that it needs to stop. Blocks cannot be stuffed with arbitrary data placed there by ambivalent miners.

The way this stops is as a natural extension of a bitcoin community that recognizes attacks and responds accordingly.

It means using node software that isn't designed to hurt its users which is already happening with migration away from Core to Knots. The most popular plug-n-play nodes have all begun offering this.

They did not this time last year.

It means miners choosing pools that at least give them the option of not participating in the attack -> currently well under 1% of the hashrate, 6 months ago not even an option. Hard for me to talk about because obviously I'm employed by the pool in question.

It means people who never mined doing it for the first time.

And mostly it means maintaining an understanding of what makes bitcoin bitcoin. That in itself has always been enough to evict crypto scammers to something other than Bitcoin. Those who wanted to turn it into "paypal 2.0" with the same disregard and contempt for nodes that the spam apologists display now forked themselves off to bcash and craigcoin.

The one thing that will *not* solve this problem is high transaction fees. This is an argument made by those who at least understand an attack when they see it, but are in denial about what surviving it actually involves.

Throughout the last few months the conversation has rapidly progressed and the tide has been turning.

I am under no illusions that this is an easy fix, but that is because of the nature of politics and how much larger the ecosystem is now.

But it's also just history repeating itself.

Bitcoin keeps having to fight the same battles again and again. Always in service of importance of being able to run *and use* a node, affordably and trivially, by complete noobs.

To maintain decentralization.

To resist the corrupting of what we have.

Bitcoin is money. Other features cannot come at the expense of that.

OP RETURN wars, bcash, segwit2x, shitcoins, coloredcoins, hostile BIPs, malicious devs....

We've done it a million times before. Every single time the "laser-eyed toxic maxis" win.

All value is subjective. Good luck convincing folks otherwise, or restricting uses for the ledger.

Like birds cirping on a Sunday morning

At least you spend a lot of time on nostr! That puts you head and shoulders above the rest, in my book. 🤣