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NextGenFuturist
e811e873276bede5d039d089242fe3dde458875aa78509b1bd2c24554fc49720

Consistently doing the right things WILL yield results in time. Keep at it, and don’t quit.

The moment when you want to quit the most is the moment you need to make the decision to remain consistent the most. On the other side of that decision, success awaits!

This is the secret behind “stacking sats”, “dollar cost averaging”, “compound interest”, “having a low time preference”, and “taking it one step at a time”.

The secrets are simple, but most people won’t implement them because it requires discipline. Just because it’s simple doesn’t mean it’s easy. It is, however, worth it.

Replying to Avatar jimmysong

Ossification and the Burden of Proof

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Bitcoin has already proven its immense value. Over the course of 14 years, it has shown its potential as a store of value at the very least. Beyond that, it offers various use cases that deliver significant benefits to its holders. And these are not insignificant implications; it's dramatically shifted the global conversation about money.

Bitcoin's decentralization sets it apart. With no central authority or control, even a majority can't force decisions upon the entire network. This differs vastly from most other systems we're familiar with, which are centralized and only require the consent of specific decision-makers to implement change.

Hence, anyone proposing to change Bitcoin must bear the burden of proof. There are two primary methods to meet this requirement.

The first is through economic, permissionless proof which involves the market. Anyone can create a market good based on Bitcoin, and as every entrepreneur knows, the onus lies on you to convince your customers that you're offering something valuable.

The second method involves making protocol changes, which should be extremely rare and executed with utmost caution. Bitcoin's usefulness means that anyone opposing your changes can simply refuse to accept them - regardless of the majority. This sets a very high bar, and it only rises as usage increases. The logic is simple: the more people use it, the more challenging it becomes to reach a consensus.

In the traditional financial system, altering base rules is much easier than persuading the market to accept a new product or service. This mindset originates from the centralized control of money by central banks. Consequently, many opt for the second route - altering the rules, rather than innovating a product or service. I believe this approach is misguided, a futile endeavor in a realm where politics holds little sway.

If the proposed changes are truly advantageous, why aren't proponents capitalizing on them in a market-driven manner? Although it might be inconvenient, and the user experience may not be optimal, you can still achieve your goals without changing the rules. Validate your idea by proving there's a market willing to pay for a less refined version of the same feature, then we can discuss potential protocol changes for improvement.

Until now, I've yet to see anyone do this. No one has gone out and proved a use case with the market and then proposed the protocol change. The few projects which have created a degraded version haven’t succeeded as far as I can tell.

The resistance to change in Bitcoin stems from the vast number of people already using it to store value. They have a say in any protocol changes, just as much as the developers, since it's their money at stake. Until they're all won over, they're unlikely to budge.

So, any clamor for sweeping changes is ill-advised. People save in Bitcoin precisely because it’s unlikely to change. The feature they want is knowing their savings won't be debased. Regardless of how beneficial your proposed feature may appear, it's not a guaranteed win-win for everyone. Each update carries the risk of unforeseen bugs and network degradation, and there are holders who would prefer not to take on that risk.

So to those that want to change the protocol, I would challenge you to prove your product in the marketplace before asking for protocol changes. Because until then, you’re not going to get most of the people who have savings in Bitcoin to budge.

This resistance to change feature of Bitcoin is similar to (and an ideological extension of) the method of changing the US Constitution via amendments. To change the Constitution is hard and requires much larger consensus than simply passing a law. This is what gives it such longevity and what will continue to propel Bitcoin into its second decade and beyond.

Fair. But it could open things up to onboarding more people

The concept of “diversifying” is simply decentralizing your wealth.

I’m not exactly a fan of TikTok, but this news reminds me of how grateful I am for Nostr, social media that virtually cannot be banned.

#Nostr #freedom

Curious to hear people’s thoughts on this:

US Secret Service: “blockchain is an amazing opportunity to track money”

https://coinpaper.com/1505/us-secret-service-blockchain-is-an-amazing-opportunity-to-track-money

#bitcoin #privacy #security

Bitbox02 seems like a good choice from what I’m seeing. I like the price of Blockstream Jade. How user friendly are they?

So Ledger is now out of the question given their new scandal. Question for anyone both privacy-minded and a Bitcoin enthusiast: what cold storage wallet do you use?

#bitcoin #privacy #security

I’m very concerned. What ever happened to Jeeves, and who do I ask to find out? #Jokestr

Sure. I’d argue that this kind of mentality is possible even now, but humanity in general is too immature when it comes to technology to think that way, partially due to the nature of “mainstream social media”. Nostr could fix even this!

I’m with you on some degree, though I do think there’s something to be said for “thinking before you post”. No one is infallible, that’s for sure. The convenience of the edit button helps with fixing mistakes of whatever kind. But no edit button forces you to be extremely careful with what you say.

Also- if politicians were to ever adopt Nostr like they did with Twitter (perhaps by necessity once we hit critical mass), it would either force them to be careful with what they say or keep them from backtracking on what they DID say. Ultimately, it’s about accountability for words and thought, in my opinion.

In many respects, growing Nostr is like growing a platform for one to build their mind.

Not being able to run away from opinions unlike your own hardens your mind in a way that exposure to a variety of books similarly did after the invention of the printing press and the variety of information spread by the internet before censorship really started to kick in.

#grownostr

Investment is time and energy allocation.

The two most important things to invest in are your mind (positive growth mindset and skills) and health. This is investing in your present.

All other investments- be it real estate, gold & silver, gardens, Bitcoin, prepping supplies, stocks, et al - are investments in your future.

Focus on the present, then your future becomes clear.

#grownostr

Posts on Nostr are so meta.

Posts on Meta are so…stupid.

#grownostr

In the early days of the internet, people would often caution others to “watch what you post online because it can never be truly deleted”.

Although this has never stopped being true, more and more people have become careless with what they post, oftentimes not even thinking or proofreading before they post. After all, there was always the fail-safe of the delete button, edit button, report button, and block button.

Nostr fixes this.

With the permanency of notes, being that they are decentralized across relays, one not only gains freedom of speech but is also forced into a world where you have to think before you speak/post.

Alternatively, one continues sloppy thinking, leaving crumbs for the rodents of the internet to munch on for eternity.

#nostr #grownostr #freedom

Hear me out: Fountain app, but for music where you send sats directly to artists

#bitcoin #nostr #decentralization