Yes you are right, but 100 sat/vB only means, that there are more transactions waiting than normaly but the blockspace is fixed, and only every 10 minutes there will be a block, so, if they can not wait that long, they have to go to layer2s. And than longtherm, there will be less transactions in the mempool, and the "Magnet" of 1 sat/vB will come back. So 1 sat is the lower baseline for the security of the network in the future. If we let that break, the baseline of the security goes under 1 sat/vB.

High fees does only mean, that the use of the Bitcoinnetwork is overheated. Do you know what i mean ?

How can there be more transactions ? Only the minimum fee limit is now lower, and the mempool is already filled ok.

The only thing that changes, is that in times when there is no spike in transactions (normal times) the fee tends to 0sats, and normaly the fee would tend to 1 sat, and this could be a big gamechanger in the future, i think.

Because it just makes the security budget problem in the long run bigger.

I mean, have same number on all priorities is not much useful

Great! Should also modify mempool and other tools to not show ~0 sat/vB

i am not sure, if i like it or not 🫣

⚡️🔎 NEW - The creator of Twitter and Cash App, nostr:nprofile1qqsgydql3q4ka27d9wnlrmus4tvkrnc8ftc4h8h5fgyln54gl0a7dgspxdmhxue69uhkuamr9ec8y6tdv9kzumn9wshkz7tkdfkx26tvd4urqctvxa4ryur3wsergut9vsch5dmp8pesz9rhwden5te0wfjkccte9ejxzmt4wvhxjmchztzjn Dorsey just released a Bluetooth messaging app called ‘Bitchat’ that doesn't need the internet or cell service.

Within an hour, users have started sending bitcoin using the peer-to-peer encrypted mesh network. Cc nostr:npub12rv5lskctqxxs2c8rf2zlzc7xx3qpvzs3w4etgemauy9thegr43sf485vg

if you think Lightning network is a success

and the haters are just shitcoiners with bags to shill

just ask the exchanges and payment processors how many LN payments they register every month and what’s the average amount

then compare that to Litecoin, ETH or even Doge

nostr:nprofile1qqs03rnx9xejpjpm2kg8tvyy69xqqpp7q8wzq6gc0qkwgr25u5j5m4gpp4mhxue69uhkummn9ekx7mqpzfmhxue69uhk7enxvd5xz6tw9ec82cspzpmhxue69uhkummnw3ezuamfdejsdwausw btw this is interesting topic. Distribution grid is an good example of extremely centralized system. The bigger it is, the harder it is to maintain. But thanks to it, we can buy and sell electricity to whole Europe.

I would love to see the decentralized grid, but I think this may be really expensive-innefective to achieve.

Big corps already figured it out before the general public.

Which makes Monero that much more important as they banned themselves from using it.

And zaps are gone again... sigh

nostr:note1sxnckt88w8na2u7htxnz3eq8lz2q0kzklmf66udrnpf479w5atqqn6ree6

Why should you use a stateful hardware wallet?

A hardware (HW) wallet drastically reduces the attack surface. By contrast, a computer can be hacked much more easily, allowing an attacker to steal your key material. Whenever you sign anything with a HW wallet, always verify the destination address, amount, and fee on the wallet’s own display, because a compromised computer may show you something different from what you are actually signing.

A stateful HW wallet lets you keep the key material (the seed phrase) in a more secure location than your computer. Ideally, it should contain a secure element that makes extracting the key material significantly harder, though you should still assume it could eventually be broken.

If you use a stateless device such as the SeedSigner or Jade (in stateless mode), you must carry the key material with you. This makes it far easier to steal or, even worse, to copy without your knowledge.

MIGHT WRITE A BOOK CALLED “WHY BITCOIN SUCKS”

JUST TO COUNTERBALANCE THE HOPIUM IN EVERY BOOK WHICH IGNORES THE ISSUES JUST TO PUSH “BULLISH” NARRATIVES

WOULD ANYONE READ OR CONTRIBUTE?

Everytime I zap someone vie Lightning from my wallet, it takes 5-10 seconds for the zap to settle and for everyone to see it happen on nostr.

Everytime, I think "this could've been an instant nutzap". "Tap, boom. Tap, boom. Zap zap zap. I would be zapping so much more."

The reason a nutzap is instant is obvious. At this point, I hope that everyone knows that a Cashu nutzap is just an instant transfer of an IOU from one user to another.

Let's step back and look at a pure Lightning zap on nostr for a second. We all know that the vast majority of Lightning zaps is effectively an exchange of one custodial IOU against another one as well. Most people use custodial wallets. So why is it still so slow? It's the Lightning settlement between the two custodians that often takes 5-10s to complete. Note, some users actually do run their own node, manage channels, run LNURL servers, etc. But they still get the same UX.

Here is an idea. Let's say a user doesn't want to use Cashu. Pure Lighting maxi which I think is great. I've been a Lightning dev for years before I started working on Cashu. This user could still be nutzapped and even remain fully self-sovereign if they run their own node.

What if the receiving user's Lightning wallet (custodial or non-custodial) was able to melt all nutzaps it receives by watching the nostr wallet ("nutsack") of its user? Either for every nutzap or whenever enough nuts are accumulated, the service could withdraw the nuts to the user's real Lightning wallet.

Effectively, this would improve the zap UX by showing everyone an instant zaps. The receiving user's custodian (or themselves) would have to run something like a nostr-cashu-wallet-watcher on a server to receive while being offline, but they have to run a Lightning node and LNURL and all that anyway (they already have a server).

Even without a server, normal nostr clients without true nutzap support could withdraw all nuts accumulated while they were offline back to their Lightning wallet everytime they come back online. The only real difference to a normal zap is that noe it's the receiver's job to settle via Lightning, not the zap sender's.

Nevertheless, zaps on permissionless social media like in nostr will never be completely trustless. They can't solve the sybil problem for instance. If you want, you can zap yourself an infinite amount of normal Lightning zaps on nostr without moving s single Satoshi. We faked zaps in the early days like crazy just to have fun.

But it actually turns out, all that doesn't really matter too much at all. First, people seem not to abuse the sybil issue. We had fun for a few weeks but then it got uninteresting There is not enough to gain, no algorithm to fool, no benefit of lying (at least not yet). Second, zaps are literally free money given to you from a random person. Why would someone rug you if they want to literally gift you money? It doesn't make much sense.

I think we have a lot more to learn. nostr:nprofile1qqs04xzt6ldm9qhs0ctw0t58kf4z57umjzmjg6jywu0seadwtqqc75spz4mhxue69uhhyetvv9ujuerpd46hxtnfduhsz9mhwden5te0wfjkccte9ec8y6tdv9kzumn9wshszxnhwden5te0wpuhyctdd9jzuenfv96x5ctx9e3k7mf0dv4ph5 recently said he thinks we have explored 1% of what zaps can be. He might be right. I think the reordering of events that a bearer zap system like with Cashu brings could open new doors for insane UX and it looks like we're actually going to find out. We have zero-config wallets now. Imagine how cool it is to bring your money wherever you go with your nsec.

Keep exploring, cypherpunks. We do live in the best of all times. Bullish on Bitcoin, bullish on Nostr, bullish on Cashu 🧡

Is this app safe? Never heard of it before

Scam alert?

GM. PSST 🤫 🤫

WANNA BUY BITCOIN with no KYC?

Hell yeah you do!!

Try Peach today and get ONE 🆓 PURCHASE with my promo code “cheersjoe”

🍑

nostr:nprofile1qqs2gazhwghppw36yu0muuzqykdrcndzeafml50pnqfcy9xjx5rylsspz4mhxue69uhhyetvv9ujuerpd46hxtnfduhszxrhwden5te0wfjkccte9e3h2unjv4h8gtnx095j7dx2wt2

peachbitcoin.com/referral?code=…

Ps - I don’t have any bitcoin ⚡️

Bitcoin needs better journalism 🌞

what yall up to? 👀

What's your favorite Cashu wallet?

can a mint charge a fee when minting? i.e. is the amount of the bolt11 of a cashu quote always == to the amount of outputs that can be claimed?

cc nostr:nprofile1qyt8wumn8ghj7etyv4hzumn0wd68ytnvv9hxgtcpzemhxue69uhks6tnwshxummnw3ezumrpdejz7qpq2rv5lskctqxxs2c8rf2zlzc7xx3qpvzs3w4etgemauy9thegr43sugh36r nostr:nprofile1qy8hwumn8ghj7efwdehhxtnvdakqzrthwden5te0dehhxtnvdakqqgxa7qav4pdduqu7vapdt0hnmu6jmuve6rf3ug4esk88ak59evamhc37dgp0