In 2007, the Writers Guild of America went on strike in order to seek better compensation. I remember living in LA at the time and watching them picket the streets outside the studios.
Things in LA were get costly, but it was also a signal that the times where changing.
New tech had entered the space in 1990 and it took a couple of decades for it start replacing entire departments within the Hollywood studio system. The entire industry was in panic.
Productions were not making money, markets were starting to slump and then 2008 happened. We know where the story goes from there.
Fast forward to 2023. Writers strike again. Same situation. The guard is changing once again.
The art world is the tip of the spear for changing times.
Here we are again.
You can hear the fear and panic of a new age coming in.
Is it possible to self custody on Lightning?
GM ☕️
Bitcoin brunch. Sketching and sipping coffee. Helping the Mrs use her coin while on our trip. 
Challenged myself to write a new article for Living on Bitcoin every week.
So far so good.
Very proud of myself!
Just finished writing my latest article of Living on Bitcoin.
This article took a lot to process in order to distill such a large and complex issue such as scaling down for the every day Joe and Jane. I hope it comes off clear and simple to digest.
Share it with friends and family members.
Read it here:
https://livingonbitcoin.substack.com/p/breaking-the-gridlock-unraveling
One of my main concerns is a lack of privacy features, scaling on-chain issues and potential centralization factor of the Lightning Network.
On the privacy issue, you brought up some great points with #[2]'s podcast about UTXOs can leak info... Maybe this is something that can be solved at the wallet level?
The scaling issues when the network gets congested as it is now is also a concern... I'm not technical enough to even begin to understand that from an engineering POV... but I have had a lot of individuals reach out because they're worried they might not be able to afford to use on-chain and opening channels still requires a UTXO commit which comes with fees... I think they're really nervous about Ordinals and NFTs on-chain...
And this then bleeds into the concerns of LN, where a good portion of users are using Custodial solutions. #[3] brought up that users will tend to go to products that are much easier to use... I guess the issue is that not many people know about how LN works, the liquidity needs, and the privacy leaks on the receiving end... As you so famously shows people in your 5 min hack.
Just some things that I think about and have no clue where to even begin...
Latest article of Living on Bitcoin, now available: https://livingonbitcoin.substack.com/p/the-cracks-in-the-wall-how-people
Sure.
Wrote my second short story! Hopefully it's entertaining.
https://iris.to/note1820lfzmpa0mrvv697exj568wk23vq5d25n6eyt6fj69rv9a3gkpqhzhqaq
BITCOIN ACCEPTED HERE
By Rare Passenger
It was a cool, crisp autumn afternoon when Evan, the owner of the cafe, sat behind the counter listening to the news on TV. Felix, his young employee, was wiping down the tables. The news was discussing the current bank collapses of the day and the possibility of hyperinflation. Evan was worried about the future, he saw what was on the horizon.
He went to pay a utility bill on his laptop, but then he noticed on the news that his bank, on live TV, went insolvent.
“Great,” Evan grumbled to himself.
Evan had a silver dollar in his pocket. He held it as a reminder of sound money. He also checked the price of Bitcoin, and it had increased again.
Evan looked at his silver dollar, then back at his laptop, then towards the TV on the wall. Out the corner of his eye, he saw Felix at work. Evan sat for a moment, contemplating the days events as they unfolded.
"Hey, Felix," Evan called out.
Felix looked up from wiping down a table. "Yeah?"
"Have you been paying attention to the news lately?" Evan asked.
Felix looked up from his work. "No, not really," he said. "Why, what's going on?"
Evan gestured to the TV. "Another bank collapsed,” he said. “It’s starting to become the norm."
Felix shrugged. "I don't really get all that stuff," he said. "I just work here."
Evan nodded. "I know, but I worry about your generation," he said. "You've grown up with nothing but economic instability."
Felix sighed. "It's tough," he said. "I don't really know what to do about it."
Evan thought for a moment. "Do you know what a silver dollar is?" Evan asked.
Felix shook his head. “No, not really. I mean, I've heard of precious metals, but I don't know much about them."
Evan reached into his pocket and pulled out a shiny silver coin. "This is a silver dollar. It used to be a common currency back in the day."
Felix took the coin from Evan and turned it over in his hand. “Neat. So… What do I do with it?" he asked.
"Well, you can use it to buy things," Evan explained. "If you ever need cash, you can always sell it to a precious metals deal or an individual, or you can always barter with it for stuff.”
Felix furrowed his brow. "That sounds… annoying."
Evan got the hint. "Okay, I have another idea," he said. "Have you heard of Bitcoin?"
Felix nodded. “Who hasn’t," he said. "But I don't know anyone who uses it."
Evan went to his laptop, he noticed that the utility company had an option to pay in Bitcoin.
“I’ve used it from time to time,” Evan said. “Would you like to see how it works?”
Felix came over to the counter and hovered over Evan’s shoulder. Evan produced his mobile phone, loaded the payment screen and paid the bill.
Felix looked impressed. "That's pretty cool," he said.
Evan smiled. “What if we tried an experiment. What if next payday I pay you in Bitcoin?”
Felix’s expression grew skeptical. “OK. Where do we start?”
Evan smiled. "I can help you set up a wallet and send you some Bitcoin," he said.
"Sure," Felix said.
As they worked together to set up Felix’s wallet, Evan couldn’t help feeling a sense of optimism. Evan showed Felix other places he could use his Bitcoin earnings at, and soon began to feel a pang deep inside as he knew the tides were changing. He wanted to be able to help his employees and his customers during these times and had hoped that silver and gold would rise again, but as Evan sent some Bitcoin over to Felix, he understood that the world was digital now.
“Ready to give it a try," asked Evan.
"I could give it a go," said Felix, "but why do this?"
“I worry for your generation,” said Evan. “Money represents your time and energy. When you save money, you’re kind of storing that time and energy for later. That’s called your purchasing power. Good, hard, sound money should help increase your purchasing power over time. But when you have a money that can just be created by a few keystrokes, or because some politician says add more supply, it disrespects your time and devalues your energy.”
Felix stroked his chin. “So when they say they’re gonna save a bank, it makes my money worth a little less?”
“You got it,” said Evan. “It means it’ll cost you more of your time and more of your energy to buy fewer and fewer things.”
There was a quiet pause between the two. “Sorry for the soapbox,” Evan said.
Felix, starting to understand Evan's point, nodded, “Nah, it’s OK. I get it. Let's give it a shot."
Evan smiled, feeling a sense of optimism. As Felix left, he looked at his wallet, "Hey! Bitcoin went up again," he said excitedly. Evan nodded as Felix waved good bye while exiting the cafe.
Alone, Evan pulled out his silver dollar. He looked at the shiny silver coin with a somber memory. Watching Felix walk off into the distance, Evan understood that the future was full of digital natives like him and that times were changing.
As Evan closed, he put a sticker on the cafe window that read, "Bitcoin accepted here," in anticipation of the future.
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I wish I had friends so I could share stories too…
My studio just recently released a new web series! Come check it out.
Mom wanted to sell her Bitcoin a couple of days ago. Asked me to use it to pay a bill. I didn’t.
Created a new wallet, placed her funds in it for save keeping.
I paid her bill myself.
Today, she calls worried about the banks. Told her that she’ll be ok. Then showed her that I saved her funds instead and that since then, it’s appreciated in value.
She felt relieved.
I feel like a good son.
Reminder: Fuck Banks.
GM ☕️ PV 🤙