Wow and comparing it to gold, of all things. Pretty unusual indeed.
I expect this will happen more often though, they have to prepare the masses for when they start rolling all these services.
This is one of those times when one would be happy to be proven wrong
Mass Adoption Will Be Their Honeypot (The Fight Won't Be In The Shadows, part II):
The time will come, in the not-so distant future, when Bitcoin will be everywhere. When we will be able to use sats to pay for a beer at our local pub, or half across the world. When every bank will offer BTC accounts, and every asset manager will offer BTC investment plans. A time when mass adoption will be a reality. For the naïve observer, it will look like the fight it's over. It will look like Bitcoin has finally won. That, will be their honeypot.
Mass adoption will come from legacy entities offering POS systems that accept Bitcoin and send the sats directly to the merchants BTC account. It will come from banks offering 3% FIAT yield on BTC saving accounts, and FIAT cashbacks on your BTC expenditures. The path to mass adoption will be paved by FIAT/BTC dual credit/debit cards issued by banks. It will use LN/L2 infrastructure set up Visa, MasterCard and other legacy payment processor.
For most people, Bitcoin will be so embedded into the legacy financial systems that they won't be able to tell them apart. They will see that depositing their BTC into their bank shaves a 0.5% off of their mortgage rate, and that their credit score increased when they opened a BTC savings account. Merchants will see that POS systems that accept Bitcoin are cheaper and their fees are lower. They will see their margins are increased if they accept BTC payments, and even more if the payment is settled in FIAT on their end. They will see all of this, but they won't know why.
#Bitcoin #macroeconomy #thentheyfightyou #reflections #longformat #plebchain
What do they say about it? I'm not a German speaker and I didn't get what's the mention about.
The Fight Won't Be In The Shadows:
"First they ignore you,
then they laugh at you,
then they fight you,
then you win"
This is a well know quote around this space. Countless times repeated, it has almost become a mantra for many bitcoiners. And yet, a question remains: How do they fight you?
Many, myself included, assumed that the fight would come in the form of ostracism. We assumed that our enemies would use their powers, those of nation-states, to block the access of their citizens to on-/off-ramp mechanism - when not directly banning and illegalizing the possession, paticipation and use of the Bitcoin network.
Such form of attack, however, is futile. By hindering the flow of money out of the FIAT system, Bitcoin's adoption could be pushed back for quite some time, maybe even decades, but never stopped. Brewed in a environment full of misfits, with core principles deeply rooted in self-sovereignty, and shielded by cryptography, Bitcoin was born in the shadows. As such, it cannot be stopped by casting it back into the shadows. If anything, that'd make it stronger, furthering the development of privacy enhancing features. Even today, half of the Lighting Network is run over Tor. Restrictions would only mean more LN, more RoboSats, more VPNs, more Tor, and, ultimately, more people pulled into the shadows.
The events of the recent days, have made me realize that we won't be fighting in the shadows. Our enemies, following the teachings of Sun Tzu, have chosen the terrain that it's more favorable to them, under the light.
The attacks won't be bans and blocks. The attacks will be ETFs from investment managers, custodial services provided by banks, paper Bitcoin, fractional reserves, re-lending, and the whole plethora of FIAT-fuckery techniques. The fight will happen in plain sight, where they control the narratives pushed by the mass-media. It will happen on the parquet floors of the financial markets, on the high offices of the banks, on the halls of their elitist forums and the corridors of the parliaments; where they know how to manipulate, deceive, lie and lobby. We will not be fighting for not being pushed out of the system, we will be fighting for not being phagocytized by it.
#Bitcoin #macroeconomy #thentheyfightyou #reflections #longformat #plebchain
Posting notes on #nostr and blocking spam bots that reply like:
#plebchain
Podcasts. All the good stuff about radio, (almost) none of the crap
They offer the ease of use of a plug&play piece of hardware with its OS specifically designed to run not just a bitcoin node, but a full cohort of self-hosted apps that you might want to run on top or aside.
For example, you might also want to run lighting core on top of your bitcoin core node for the LN, with Ride the Lightning and BTCPay on top of that and some other apps to help you manage your channels and liquidity. You might also want to run a private relay for nostr, your own cloud storage service and some other self-hosted stuff.
All of that, can be done with your own hardware, either installing an OS like start9, or software like umbrel and others. You can do it on a Raspberry Pi, a spare laptop/desktop.
So the main thing, imho, is whether you have the spare hardware to do it, our the spare cash to buy the plug&play hardware.
Running a full node is very easy. If you have a spare laptop you don't even need to buy any special hardware. Just download Bitcoin core, let it synchronize and off you go. Just make sure to have enough memory to store the whole block chain (and a good internet connection), 2 Tb SSD and you won't have to worry in quite some time.
If you broadcast to all relays, relays will need to moderate it - either block it or remove unwanted content . They may choose to block/remove only notes containing unwanted goods/services, or, more likely IMHO, just block these event types for simplicity. Otherwise, they'll risk prosecution.
I don't see a compelling reason for operators to host notes advertising, say drugs, guns, hitman's services, and risk being prosecuted, while at the same time getting no benefit from hosting them.
Are you thinking on running it in a private relay or using the current public infrastructure?
I can see relay operators not being happy about providing infrastructure for it when people starts to sell goods/services that are controlled or outright illegal in their jurisdiction.
And if you're running it in a private relay, then you'll be responsible to moderate it or face possible legal repercussions down the (silk) road.
My main concern with a nostr based marketplace is mediation. What are your plans for avoiding scammers stealing users fund through fake ads in a decentralized way? The obvious answer is a peer rating system, but that's easily manipulable.
Neighbor's neatly mowed lawn vs my lawn. Guess who's going to end up with bare soil if the drought carries on...
#grownostr #urbanbiodiversity #beefriends
AC⚡DC so strong it summons the devil to my sats count 🤘🤘
Zaps & Roll
#Zapathon
Absolutely. My infrastructure, my rules. You don't like it, run your own or go somewhere else, EZ