Its real value will only begin to show once it surpasses a minority interest speculative investment and starts to be the only way for normies to actually function. When that happens it will fly so high we won't believe it ourselves.
It's ourselves we're mostly going to have to protect our holdings from, because when fiat crashes and the financial system goes tits up we're going to need to start using it for survival. That's why we have it. I sense for some people this is already happening.
Everyone I ask says "I really don't use facebook much but I have to be on there for my business". I find that really lame. I just tell them I don't like it so I'm not on it.
Wasn't always thus. There was a time when I felt I needed to keep my FB account because of some reason or another. Then one day you ditch it, and immediately feel better in so many ways.
I knew colleagues who were on professional forums and they all got banned for talking about vaccines and scamdemic tyranny. The forum mods themselves had to police it to stop their forums getting banned. These were groups whose specific purpose was to discuss privately how to avoid scamdemic tyranny. They may as well have invited Bill Gates to their meetings.
Honestly, the more I learn about bitcoin the more I realise I don't know.
It's basically a promisary note as far as I can tell, and am I right in thinking node operators have to put up some funds of their own as collateral to ensure what goes into a channel comes out? Or is that Thorswap?
Please correct me if I'm wrong.
Yeah and I don't think lightning does finalise. There's an element of trust and safety in numbers until finalisation on the blockchain.
Nine full days and my Linux node is 75% synced...
Still, not bad for a dumpster PC literally found at the roadside.
Heard in my clinic:
Mother: "I saw something on Facebook about..."
14 year old daughter: " Mum, why are you even on Facebook? Nobody uses Facebook."
I'm seldom on the same page with anybody about anything. Good luck finding the answer.
At times like these, I turn to an old dermatology textbook with photos. Makes me realise how good things actually are.
Don't take my word for it though, I know less than anybody on NOSTR about anything technical, and I'm generally wrong.
There is some collateral in the system I think, due to node operators having to put bitcoin into a channel to open it. So I believe there is a reputational aspect also.
Hence there is a greater degree of trust and risk than doing everything on chain - at least I think that's the case.
I believe it settles on chain periodically with a single balance and a summary of all transactions instead of settling each transaction in turn.
I don't understand Bitcoin or NOSTR but I do get shit posting. By the way my Linux node is only 70% synced after 8 full days. Still, I found it at the roadside so I'm pretty pleased with myself!
Totally agree. Bitcoin's true value will only begin to be approached once we start seeing just what it can do to actually make life better for people. Until then it's just an abstract token of minority interest, and we're all just speculating and waiting for it to get off the ground.
That's a pretty good hit rate for an economist.
I'm keeping my car another few years and giving it a good polish instead. See what Bitcoin does? Not just money!