"Every man is rich or poor according to the degree in which he can afford to enjoy the necessaries, conveniencies, and amusements of human life."
Adam Smith
#hardmoney
#economics
#philosophy
#bitcoin
#quotestr
Preach brethren. though they may not hear you, continue to spread the good word
~Historic Downtown Ocala~
#voteforbettermoney #vfbm #BTC
nostr:npub1kns8r25ppwc2vpsv5cvhlpk94nfad76k64pkdzfnn704th2hmcksgq3582
#ππ€ #OrangeMan βΏ {829141} 
I know exactly where that's at, great seeing bitcoiners in the north central Florida area
Nostore has a guide once you download it, you will be stuck with safari but it works
And Google says its temporarily closed, WTF! my favorite cigar shop lounge closed down and now Pip?! If chick and Ruth's closes I have no reason to return there
If its still there its down by the water on Dock St right by the academy.
To be clear, you're betting price stays sub 50k until halving? Fuck it, I'll take that action.
-They have a new chain to batch transactions using less block space.
-New chain can allow applications like Uniswap & other DEXes
-Trust minimized, as long as 1 guy is honest then it doesn't matter if the rest are crooks
-still in Testnet phase
Considering the 3 year drought they've had, good for them
**Yes, Citrea is actually real π€―**
Citrea is a massive change to the Bitcoin ecosystem by allowing a massive increase in transaction throughput on Bitcoin as well as full EVM compatibility. Let's break down what that actually means in approachable language.
A lot of the terminology with things like "zk rollups" can be confusing, so I'll do my best to simplify things here.
**Zero-knowledge ("ZK") here isn't for privacy, it's for scaling/verification**
A lot of confusion comes from the term "zero-knowledge" often being conflated with privacy-preserving. In the case of zk here, it's being used for it's ability to succinctly (read: in a tiny amount of data) prove something is true and allow anyone to verify the claim without knowing every piece of data used in the proof.
**Citrea is a validity rollup that leverages zk proofs to reduce its on-chain footprint**
This means that the amount of data needing to be published to Bitcoin's base layer is miniscule (just a small zk proof) compared to the amount of data off-chain (the entire state of the Citrea blockchain), and is easily verified on almost any device.
Citrea validators "batch" transaction on the Citrea chain and publish a single, small proof that summarizes the change in Citrea chain state since the last published state and inscribes it into a Bitcoin transaction (yes, similar to those inscriptions). This proof will only verify properly if the validator is honest, allowing anyone on the network to prove whether or not the proof published is valid.
More on validity rollups here from @lightcoin:
[https://bitcoinrollups.org](https://bitcoinrollups.org/)
**Citrea enables EVM-style smart contracts w/o changes to Bitcoin**
While you may have a vitriolic hatred for all things Ethereum (for legitimate or illegitimate reasons), the ability to create complex, Turing-complete smart contracts on Bitcoin without needing the base layer to fully store, parse, and validate those smart contracts feels like the best of both worlds to me.
This can enable things like AMMs (think Uniswap) to function with actual Bitcoin as the currency involved. The possibilities are practically limitless.
**Citrea is "trust-minimized," not "trustless"**
While this may feel semantic, I think it's an important distinction to make. Citrea changes the trust model from a federated multisig (a la Liquid) where you have to trust that a majority of participants remain honest to one where as long as a single network participant is honest funds cannot be confiscated or frozen.
As long as one individual validator remains honest, no other validator can confiscate pegged-in funds or mess with them in any way. Additionally, any validator acting maliciously will be subject to slashing (losing their own Bitcoin via the challenge-response protocol in BitVM) and thus have a financial incentive to be honest unless they know for sure that every single validator on the network will allow them to be malicious.
**Citrea would be even better with covenants**
Yes, I'm going to mention covenants π Part of the minor trust required in Citrea can be reduced even further with covenants in Bitcoin:
https://docs.citrea.xyz/future-research/trustless-settlement
Additionally an opcode that fully verifies zk proofs directly on Bitcoin (i.e. not via BitVM) would allow a completely trustless zk rollup, but deciding on a proof to enshrine in Bitcoin's consensus layer is very unlikely at this point.
**Conclusion**
I'm insanely excited for this to be fully open-sourced and usable on testnet, and will share updates as I see them along with testing this out ASAP.
Special thanks to @0x_orkun for giving me a sneak peak and letting me contribute to the docs, helped me have a much better understanding of what Citrea really is! I'd highly recommend reading through their docs if you want to better grasp all of the ins and outs:
https://docs.citrea.xyz/technical-specs/readme
If you see something that could be improved in the docs, be sure to open an issue or submit your own PR, as the docs are open source themselves!
Idk, I'm on the other side of the country. Been hearing about flooding and 8" of rain in some parts of the state though. That's a lot of water
All this rain in CA, I wonder if their reservoirs filled up. Then I wonder how long will it take them to use up all that water again.
JUST IN: πΊπΈ US Treasury Secretary Janet Yellen asks Congress to regulate crypto assets "that are not securities." https://video.nostr.build/bca7bb44240ea63d2aa10c2ea9726430222ca6279ec6213626e46bf8812638fc.mp4
Its not regulated but the SEC allowed a spot ETF for it..GFY
Ol Larry ain't even hiding the agenda. The ETF is a tool to weaken the network and protect the dollar
Fink himself in the same Bloomberg interview stated βWe believe ETFs are a technology no different than Bitcoin was a technology for asset storage.β Bitcoin Spot ETF products encourage many practices far outside the norm of the typical Bitcoin user within the near decade and a half of its existence; e.g. trusting a custodian with your keys, limiting exchange to US business days and hours, and aggregating individual exposure into a collective paper claim managed and surveilled by highly-regulated brokers.
#staysovereign
#stacksats
#bitcoin
#plebchai
Even when you "own" your land don't forget to pay your taxes *cough* rent *cough*
See real quick how it's not yours, you're just maintaining it.
Some may disagree with my selling part of my stack, but saving in #bitcoin has allowed me to get into good saving habits. These good habits have allowed me to finally get all of my back property taxes paid, no more fear of the county repossessing my land.
Thanks Satoshi
#taxes
#stacksats
#goodhabits