pull down to refresh

An app that ties together messaging, lightning transactions, lightning addresses (would be the username) and lightning to bitcoin swaps.

reply

Two best fun facts I have is:

https://imgprxy.stacker.news/znFHT5Yo3GRSvUNcdWUvlKcjbJmqTTYIGQhzLEAnoaA/rs:fit:600:500:0/g:no/aHR0cHM6Ly9pLnBvc3RpbWcuY2MvNGRwcDY4ZEovQ08tMTExMS5qcGc

reply

This is the kind of discussion I like to see. Not the tweet you link to but bitcoiners thinking about possible problems with the status quo. There are some good comments in this post (@027c352e45, @elvismercury, @DarthCoin & @Scoresby).

  1. We do need more clients than just bitcoin core
  2. A written spec does make sense to me for a project this important
  3. We have other clients but usage is limited
  4. We are still very early. Things can and will change but you make a strong point.
reply

Good condition, vintage tools. No new stuff.

And vice grips. Thank the lord for vice grips.

reply
  1. Not yet, we currently work with multiple exchanges but are also in touch with some miners for some future collaboration
  2. We already do at Relai Private where HNWI and Business can acquire Bitcoin with us directly
  3. That could be interesting. You can already pay in BTC (and now lightning) from the app directly by just scanning any valid QR code
reply

I'm here right now and I can confirm what you say

However, I don't think that ~20% BTC adoption should be viewed as a failure, quite the opposite.

Maybe not everywhere accepts it, and true, waiters will actually try and say they don't accept it when they do, but it IS possible to live just on Bitcoin in El Salvador. I'm doing it right now.

https://btcmap.org -> this is pretty up to date

Bitcoin is legal tender in El Salvador and that's a big deal, perhaps adoption is slower than we would have liked, but it is definitely happening...

It's the same situation in Boracay, the marketing is definitely not the reality. It's down to people like us though, to change that.

reply

Lame video from a Keynsian economist. I'll debunk his 4 reasons he doesnt hold bitcoin.

Reason #1 You can't apply any model to measure bitcoin's intrinsic value.

"Value is not intrinsic, it is not in things. It is within us; it is the way in which man reacts to the conditions of his environment. Neither is value in words and doctrines, it is reflected in human conduct. It is not what a man or groups of men say about value that counts, but how they act." - Ludwig von Mises

Stop using the term "intrinsic value." All value is imputed from the subjective valuations of consumers on the market. The term "intrinsic value" can only serve to confuse every conversation about monetary theory.

What is the intrinsic value of an apple? To a starving man, he is willing to give his life savings for it.

Reason #2 - bitcoin is not a good substitute to replace USD. 

Moot point. It doesn't need to replace any fiat. As long as it is an available option that works in addition to fiat, a flavor of Gresham's law takes effect, and people will choose the currency to save, and which one to spend.

Reason #3 If bitcoin is a good store of value, it won't increase in price over time.

I have no idea what point he was trying to make here. He makes a comparison to gold, and how it hasnt grown by double-digits. Perhaps in comparison to fiat?

Reason #4 "There is a lot of dumb money in bitcoin"

Too many people are asking him to sponsor their company in his videos. There are too many noobs promoting bitcoin, so it makes him feel uncomfortable. No understanding of the fundamentals, and a reluctance to learn more himself because he thinks people are dumb. Does this seem reasonable?

reply

See Laolu comment on the mailing list about LND.

This is always unclear with coordinated disclosure if you give the latest release number (where mitigations are included) or the ones where they have been effectively included. Latest release number might always have some minor bugs.

Thanks for the work you’re doing on stacker.news.

The patriot act

Close second

Bank secrecy act

reply

I noticed that the 3 cowboys on the SN team all have a k in their names. Any idea why?

Why aren't there any chip manufacturers in this apocalypse? Somehow, humanity's collective knowledge of how to make computers/adding machines is lost but someone manages to recover the entire 600GB Blockchain even tho there are no books/printed words? I think there are just as many (if not more) offline/faraday backups of Wikipedia than the Blockchain.

Let me present a more likely senario:

Disaster happens and the Blockchain stops adding blocks because every computer on earth has been permanently disabled.

Many people will have cold storage Bitcoin seeds memorized and/or recorded in ways that survive the disaster.

Without new blocks, the coins on these keys cannot be spent. You can't even give someone else your seed in a trade without trust because you also know the seed and could doublespent them once the Blockchain resumes.

Consensus only cares about the Blockchain with the heaviest proof of work. So anyone who decides to try and mine blocks by hand, and distribute the newly found block without internet is wasting their time because all the work they do could easily be undone by primitive adding machines and a network of telegram wires or radio stations.

Even if one community decided this was the best strategy for them, they would struggle to enforce the consensus rules without trust since it's no longer feasible for everyone to validate the transactions themselves without checking all the work themselves by hand. People under this limit, would just trust whoever is disseminating these new "blocks" to people.

It's like trusting the phone companies to make sure there are no typos in the quarterly phone books sent to every household pre-internet. Very centralized. People would have to submit their txns directly to the block factory and hope they get included.

Even if you did find an error in a block, what are you going to do about it? Try to convince everyone in town to discard the last block and force the block production factory to issue a recall and replace it with a valid one? It just wouldn't scale at all without becoming completely trust based.

It soon becomes obvious that Bitcoin was designed for networked computers and humans are really bad at computing/networking. Especially, when most people are just trying to survive and could care less about keeping their ledgers updated and verifying the transactions of their neighbors too!

Instead of doing math by hand or with a slide rule, then shipping tonnes of paper with hashes and hex encoded text to every community on the planet, we would all be better off working towards getting BTC back to running as close as possible to how it was before the disaster.

In the meantime, communities will just use ancient money technologies that run better on the available infrastructure.

At worst case, 2016 new blocks would need to be mined at the pre-disaster difficulty before the next adjustment. The difficulty can only go down 75% at once, so it could take a few adjustments before we're back to 10min block times. The time between those first few adjustments could be decades.

Assuming we have to rebuild global communication infrastructure, there could emerge multiple BTC forks or chain splits as new communities develop the technology to "resume" the Blockchain independently using what they believe is the current chain tip.

These forks could persist forever as national treasuries or lose value to alternative blockchains with greater proof of work as they are discovered and the world reunites.

There would also be a huge opportunity for shenanigans since compute isn't evenly distributed anymore. The earliest miners would be in very powerful positions to reorg the chain that could be very politically impactful since blocks could take years to mine in the beginning.

reply

@DarthCoin, you got a shout-out on Bitcoin University's channel today:

reply

I know I am not going to get any rewards. But I don't think I am going away from SN. I'm not sure if the quality of the posts is going to be improved with the competition. I don't like competitions in general. But life is like a competition itself. Let's see how the experiment goes this month. If many users leave SN, I'm ok with it. I don't like users that are here only for the rewards.

Interesting question.

I think starting from my 20s I have been quite happy overall.

I guess being an adult helps.

reply

For those that are interested…

The downsides that exist are probably that there isn’t really much of a Bitcoin economy here yet in Uruguay. They haven’t needed it. The next biggest one is that bureaucracy still exists.

Definitely witnessed an uptick in the amount of libertarian minded people here, moving from abroad, which is a huge plus. People I’ve enjoyed connecting with.

The cashless card culture has expanded and is commonplace. I’m becoming one of the minority in local markets still using cash. It’s still used but much less than other Latin economies, at least in major cities like Montevideo and Punta del Este. They have hooked people in with 15-20% discounts in cafes and restaurants if you have a certain branded card. Now people use cards daily.

Supermarkets are pretty much run by a French monopoly here. There’s lots of brands but all with the same/similar owners, which is why veggies and consumables are 2x-3x more expensive than neighbouring countries. I try to avoid lining their pockets by opting for the local markets or “ferias” and building relationships there.

On the plus side, you can exchange significant amounts of dollars for pesos or vice versa without any sort of identification whatsoever. These are large registered businesses. In the U.K., even exchanging $100 felt like an inquisition and a favour I was being granted.

You need to present ID to get a SIM card like most countries, but it’s so refreshing to walk in & pay a competitive FX rate without being asked your name. To not get asked about what you plan to do with your depreciating dollars, or your travel plans etc. Reason being I expect, many big purchases like houses and cars are denominated in dollars, just like neighbouring Argentina. Those assets by the way are also fairly pricey for the region near the coastline cities given the stability on offer.

Renting and purchasing property comes with quite a lot of additional costs. With very little work or effort on the agency side. I gather it’s often best to find a good agent to trust with this process, or even a friend who does it on the side. Or just be prepared to eat that cost.

Linked to the agency world, and being both a positive and negative, sometimes when paying for a service you’ll find you as the buyer need to chase to get things done. The culture is very different here, to the detriment of speediness. It’s almost like businesses are not motivated by money and believe you are lucky to being served at all, even when paying hefty fees. I guess that’s the “tranqui” way.

It’s just a general observation and not always the case, but also potentially provides good opportunities for those people that are responsive and are willing to setup a business here. You will soon find yourself as the exception if you keep your promises and can deliver on time.

reply

Henry Miller: The Colossus Of Marroussi

If You want to dive deep into the Aegean/Mediterraenean world this is a must read

reply

It's easy to accidentally hit the lightning button. Losing one sat is pretty minor, but might put a little more distance between the icon and the title/comment, or give like a 10 second undo window

reply

You should spend less time worrying about what other people do with their bitcoin.

reply
reply

Kudos for this interesting experiment, and the interesting theory behind it.

A thing I think about a lot wrt online communities is how to encourage "good-ness" where "good" is a tricky term to define. Maybe it's easier to say what it's not: what gets produced by the classic advertising model, where the site is hell-bent on increasing time-on-site, driving "engagement" (for a certain type of engagement), click-throughs, etc.

I think we all have a gut feel for how shitty and poisonous this is. What it feels like. So what are other ways a site can feel, what are other objective functions one could aspire to that affirm something valuable, that add something good to the world? How might one design for that, what interactions might encourage it?

There's some aspects of your "pseudo-family" idea in there, I think.

reply

So you want to slow development on new features forever? If something gets added/changed it then has to updated, tested, released, and maintained three times (web, iOS, Android). Reddit didn't have an official app until 2016. Over 10 years after the website launch.

SN will likely release an API and community apps of all sorts will flourish.

reply