GE. I’ve got something to confess about that’s both embarrassing and very frustrating.

Last week I posted on a telegram home mining page about wanting to buy 2 x S19 XP’s to immersion mining and heat our pool and asking if anyone hade feedback about buying directly from Bitamain or their Chinese reseller Beacontek.

Someone called Sats4me replied I could buy them locally (I’m in New Zealand) for a sharper price through Rich at Used ASICs and said he good to deal with.

I was immediately DM’d by Rich at UsedASICs, (in retrospect a red flag) who said he has 6 month old S19 XP’s at the sharp price of $1300 AUD each.

I was cautious of not getting scammed, said I needed to conduct some due diligence, asking for his mob no and npub, but he asked if I’d like referee and gave me a telegram contact to message (probably him too) who said all he’d bought arrived as stated.

He didn’t provide me with his mob no or npub though. (Once again, another red flag.)

In retrospect I should have pushed for those, especially the npub, and a website. The social proof of the npub would have been valuable, but I felt I was being difficult and rude and he ‘seemed’ to be politely accommodating my due diligence checks.

I paid him the $2600 AUD, and emailed him the next day asking for the tracking.

I then checked my telegram chat with him only to find all messages wiped. It was then that the penny dropped.

I was naive to have not been more suspicious. Lessons learnt (the hard way.) 🙄

Not that it will probably stop his shitbag behaviour, but I text him:

Really? Is this how you make a living? Ripping people off.

Going through the motions of building trust when you’re really a fraudulent thief.

The fact that with Bitcoin, Nostr, Fedi etc, we’re trying to make a better, fairer, more harmonious world, but then there’s you, a lying fraudster scamming people rather than work towards a better future and trying to be the best person you can be.

You’re obviously intelligent, you should have more faith and self respect of yourself and aim higher.

I know humans can justify anything. How do you justify this cuntfuckery?

I’ll recover from this theft of yours and will let my wife know I’ve been scammed, while you have to live with your conscience that you’re a thieving, lying piece of shit.

Sleep well scumbag.

Anyway. Hopefully you can learn from my mistakes.

Be careful out there people.

🚨 #WasabiWallet backend servers are currently down. We've run out of funds sooner than anticipated. We're working on fixing the issue ASAP, but it may take some time. Thanks for your patience!

Although I might agree with you on value, my brain can't wrap around price. 🤔

Value is the worth. A KYC free utxo is measurably worth more than a KYC'ed utxo.

The price of Bitcoin though is measured by keeping only in account the CEX'es on which a lot of P2P exchanges also base their prices (as a % premium on that averaged CEX price). In all honesty I do not know how BISQ looks nowadays 😶‍🌫️ so not sure if there is just a demand price or a premium.

But now even if we all agree on f.e. BISQ that nonKYC sats are worth 100k, that won't change the price on the CEX,... thus not influence 'the Bitcoin price' (as measured by indexes) unless ofc. there is a rise of a new Samurai that allows for mixing KYC'ed sats and thus being able to sell those on a P2P exchange (creating a bigger demand on the CEX exchange and thus pulling the price up)

What I am getting at is not to buy on KYC exchange,... on the opposite ☺️

I don't (want to) care about the price, as long as I can buy and sell my goods and services for sats with the people I know value these sats on the same level as I do 🤔

If that makes sense? 😆(not looking for agreement or not, just not sure if I am able to express myself clearly, I have a cluttered mind & it shows in my communication

😅)

I don't sell sats tbh, KYC or non-KYC ☺️

But so what you are saying is that buying/selling P2P (at least on Bisq) wouldn't influence price at all?

(Not that I would change any needle even by the merest decimals by the small amounts I am able to stack nowadays 🤣 even if I would buy on a fully KYC major exchange )

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1. If you buy Bitcoin on exchange -> direct influence on the demand on exchange >> biggest NgU influence

2. buy on P2P exchange -> this is influenced by 1. (as putting in base price) if there is not enough sats on P2P exchange, premium goes up ->> convincing some people to go for the arbitrage opportunity (buying on KYC exchange, sell on P2P)

3. The price doesn't really matter, since it is only measured at the (KYC) exchanges 🤔 if you send to whatever online shop without knowing who is behind it, it might as well be sent to an exchange. As the market 'matures' there are companies (or handlers for those companies) that accept BTC payments but revert it instantly to fiat.

Those sats get then thrown together in a bigger company where KYC complience becomes more important.

IF we all trade with our F2F peers, this is truly the only way to see BTC as 'elecronic cash' 🤔

F2F I mean as: you at least met once F2F. Let's mint it here: Know Your Peer economy 🤣

Or maybe F2F means Fren2Fren instead of Face2Face ☺️

I built a lnurl server that uses phoenixd as the funding source. The beauty of lnurl is anything can be used as a funding source. Phoenixd exposes an http API. This http API is exposed through a tunnel from my local PC to a vps. Phoenixd could be run on the vps directly though

Just exposed phoenixd running locally on my laptop, through #holesail to my vps and created an actual lnurl address that works on top of it (not the bolt 12 lightning address that only works with offers).

The setup was interesting because the holesail client runs within a docker container on the server without exposing any external port.

It shouldn't be too difficult creating relays that are exposed through holesail. P2p tech is really fun to work with