gn, gfy

If you think from first principles, you'll rapidly come to the conclusion that children are worth having.

The other day on Twitter/X, I paid out a 2,100,000 sat or $1,700 USD Lightning bounty.

Over the past couple years, I’ve offered an occasional challenge on Twitter/X.

When people tell me Lightning doesn’t work, I often ask them in random comments for their Lightning details so I can pay them in the next 5-10 minutes on the spot, permissionlessly, wherever they are, with this payment method that supposedly doesn’t work.

Every single time, they can’t do it. Because they haven’t even tried it. They’re just talking. I’ve done this a ton of times and nobody ever takes the sizable sat offerings.

In Dan Held’s anti-Nostr thread, Mark Jeffrey was critical of Lightning.

Unlike most who I offer the challenge to as 99% sure they won’t take it, I offered it to Mark despite knowing he had a much higher probability of accepting it, since he’s tech savvy and active in the broad crypto space. But in my view, if he accepts, then that’s also evidence on the spot that it works.

He declined my 21,000 sat offer and politely still talked anti-Lightning.

So, I said since I like him, I’d up it to 210,000 sats. He still declined and talked more anti-Lightning. He spoke about how he *wanted* it to work, but the problem just isn’t solved yet.

My inner Nostr Lyn couldn't help it, so I upped it to 2,100,000 sats, or $1,700+ USD, if he would just post a way to pay him on Lightning within the next ten minutes. Nobody had ever taken me up on my challenge, so I pressed to my highest offer ever just to see, out of sheer curiosity. He’s a multi-time published novelist, which with my recent fiction hobby, interests me. So, if there’s someone I want to claim the bounty, might as well be him.

And then you know what? He did. Of course he had a Lightning address.

He went from “want it to work but…” to digging through his past experiences and finding an old Lightning address, within a few minutes. The first person on Twitter/X to accept my challenge.

I paid him 2,100,000 sats on the spot, or $1700+ USD.

He provided a Stike address, so that’s a shout out to nostr:nprofile1qyxhwumn8ghj7mn0wvhxcmmvqywhwumn8ghj7mn0wd68yttsw43zuam9d3kx7unyv4ezumn9wsqzp382htsmu08k277ps40wqhnfm60st89h5pvjyutghq9cjasuh38q7t6dtc who made Lightning convenient enough for Mark, who doesn’t understand or particularly like Lightning, to finally call my challenge and make me have fun staying poor, lol. And it worked flawlessly despite being an above-average sized Lightning transaction.

I then asked Mark if he could identify the sending wallet, but he said he couldn’t. He asked about block explorers to identify the payment, and while I pointed him toward Mempool Space, I highlighted that Lightning tends to make sending privacy pretty good even though I didn’t maximize privacy on this one. I'm not deep into the weeds on privacy tech, so I'm always genuinely curious just to ask "hey, can you identify any privacy leaks here?"

I also asked him if he would have shared his bank details publicly like he shared his Lightning address. He said of course not.

So even if people say “But Lyn, Mark used a custodial wallet”, I’d say that this tech stack reduced his friction and boosted sender privacy.

I think there are still improvements to make of course, particularly Lightning combined with other scaling methods (ecash, Ark-style stuff, and so forth), but it’s a powerful glue that connects a lot of things together.

In addition, when it comes to payments and small amounts of working capital, there is an important “choose your own adventure” aspect. For small amounts, in safe jurisdictions, custodial Lightning is not that big of a deal, like keeping cash in your wallet that is prone to theft or loss. It maximizes UX.

But it’s important to keep pushing hard, keep developing, keep providing capital, to make as many tools as possible available for people that need to maximize privacy and/or self-custody. Not everyone needs or wants those capabilities for every single payment, but they do need the *option* to turn to them when it’s important.

Mark Jeffrey then reached out to chat about fiction. Last year he asked me to go on his podcast to talk about Broken Money, but I fell behind on Twitter/X DMs due to bandwidth constraints and didn’t get back to him. So, after this I got back to him and said I’d be happy to talk about fiction with him to pick his brain, and talk Broken Money on his podcast, and we got one scheduled. 🤝

bitcoin will replace the dollar

GM

Tariffs make us poorer

it is interesting that elon has no opinion on the white house bull posting about bitcoin

he seems to have an opinion on everything else

...it's pretty close to that wBTC in the first draft of the Strategic Reserve, right?

It took me a minute to realize that the "w" part is where the programming happens. on the ethereum network. wrapped bitcoin. (facepalm)

So, now that Michael Saylor's involved, did we get rid of that idea yet? 🙏🏼

Informal poll:

(answer both questions)

-Is it okay to call someone a retard?

-Is it okay to say a student is tardy if they are late?

⚡️⚡️⚡️Serious and answers with some effort ⚡️⚡️⚡️

🍻👊🏻🧡

On Trade Deficits and Tarriffs

PART I: Trade Balances are Worse than Useless

Let's imagine there are only three countries: the US, Canada and Mexico.

Let's further imagine that these three countries produce and consume all the goods and

services that they need locally except for three situations:

1) The US buys lumber from Canada

2) Canada buys steel from Mexico

3) Mexico buys automobiles from the US

Now, the trade balances will go like this:

US: In a trade deficit with Canada that just gets bigger and bigger.

US: In a trade surplus with Mexico that just gets bigger and bigger.

These trade balances don't mean anything. Nothing is out of whack. There is no limit

to how high they can go, and nothing ever needs to be paid back to anybody (it is not

debt).

Therefore I recommend ignoring trade balances entirely. They are a silly useless

metric that causes far too much confusion (including in Trump's mind).

PART II: Trade is win-win

In free markets, people trade with other people only of their own free will. They are

never compelled to make a specific trade. Therefore we can assume that both parties to

a trade doing so willingly actually value the received goods and services moreso than

they value the disposed of goods and services.

Therefore trade is win-win.

Therefore,.the more free trade that occurs, the richer everybody gets.

PART III: Tariffs and their purpose

Tarriffs are local import taxes you charge your own citizens in order to protect

local industries who produce the same products at a higher price. This may be

necessary for a number of different reasons:

1) Local industry is fledgling and not efficient yet, and you are giving them time to improve

2) Currency exchange rates are out of whack from purchasing-power-parity, and so you are

preventing efficient local industry from suffering the devastation of this artificial

imbalance.

Any other reason for imposing tarriffs causes a net loss since as already argued, trade

is win-win.

Trump may impose tarriffs in order to drive a hard bargain, but they are still a net loss

while they last. It is just that in Trump's case, they generally don't last long, they

were more of a threat than a long-term policy.

Since currency exchange rates change rapidly, I am of the opinion that tariffs should

change rapidly too. But they don't. Generally they are written into legislation and hard

to change quickly. IMHO government could do far better in this regard.

PSA my Twitter account was compromised.

Any posts or DMs from it are not me, starting from this hour.

Please let people know if you are on Twitter.

I've tried to zap a few people this morning using nostr:nprofile1qqst4qyeqenw7zm0fwjsty68h6cnys5jre2xd8ngqpjv5a2j26s78fspzemhxue69uhhyetvv9ujucm0d9hx7uewd9hj75a0pev and I'm getting server errors 😩

A horrifying number of people literally believe that if the govt prints money and spends it, that this makes our economy wealthier.