FML. Went to Japan and my SN routine got jacked up. 😢 Too much shit to do in this amazing country.

Congrats to whoever jumped into the top 10 because of me.

https://m.stacker.news/20009

I think if you get enough downzaps. But only people who are chronically worthless need to worry about it.

That's the interesting thing about custodial LN. Because it can handle minuscule sat volumes, you can make the third party risk aspect essentially null by never putting more than 10k sats or something in there (as I say with >40k in my alby wallet rn lol).

What is sad is that one day regulators, even if they accept Bitcoin, might try to put the same regulations that exist on banks onto custodial lightning, which would all but kill the things we love it for. Of course, since making a small, private, custodial wallet for peers is so easy, the regulations really wouldn't matter.

Tony thanks for doing this SN ama! Have two questions for ya!

What do you think is the most pressing problem in lightning wallets today?

What is your favorite burger in Austin?

https://i.redd.it/nzsx7mr995i91.jpg

On Michael Saylor:

In my opinion, he understands Bitcoin and what it ultimately means. I think he is extremely intellectual, and has as good of understanding as anyone, of what the future may hold in the Bitcoin era.

I do not think he actually believes all the statist bullshit about regulation being good, taxation, and the US dollar continuing to exist. It’s too bad he doesn’t speak freely about it, but the position he is in prohibits him from being truthful about this. Him telling people that Bitcoin will destroy the state is not necessary or helpful when explaining Bitcoin to people who haven’t seen the rabbit hole yet-it will only turn off their brains. I’m not sure if he could be voted off the board, but nothing good would happen if he is 100% honest on this point. In the end, none of this has anything to do with the value proposition of Bitcoin.

You don’t yell a war cry as you jump out of the Trojan Horse. You sneak out at night and slit the throats of your enemies while they sleep.

Saylor is just a man, who has an engineer mind and an excellent way of distilling what Bitcoin is. Study his ideas and metaphors, and as always, DYOR.

what could each individual Fedimint provider offer to potential users to lure them into using their minted tokens

1. The user knows someone from the mint personally. This is central in Obi's view.
2. The mint performed the trusted setup ceremony correctly and convincingly.
3. For users that want the mint to keep their private key, geographical proximity because the user will have to go to half of the minters personally. Unfortunately, those users are going to suffer a lot when (maybe if, but most likely when) the regulators crack down on the mint. If the minters are gathering together at regular intervals to receive users who want to restore their keys, cracking down on the mint becomes much easier.
4. For users willing to manage their private keys themselves, the opposite of geographical proximity. Ideally, one minter in US, one in Europe, one in China, one in Africa etc. Put other OpSec stuff in this category.
5. Healthy cap policy. If there's no cap, there might occur a situation when the mint holds $1T and hundred criminal organizations are trying to rob it. If there's a cap, there might occur a situation when a user wants to receive $10 but can't because the mint doesn't want to mint anymore. Ideally there should be a cap but the amount of minted tokens should not be close to it.
6. Stablecoin integration. Taro is mentioned in the article but it's barely started; RGB is already released although nobody understands it. But in principle there could be already stablecoins on RGB and lightning-integrated minted stable tokens. There is also USD-denominated BTC-backed tokens from Kollider but I'm not quite sure about those.
7. Custom tokens. "The mint has pleasure to announce that at Bob's request we minted 100 BobCoins redeemable from Bob for 1 hour of his work per coin". This is very important for poor people who want to borrow but can't accept the risk of currency volatility (and I don't mean BTC volatility only). Obviously more important for small mints.
8. Other bells and whistles. AMMs between BTC and stables. Lending. NFTs because why not. Some analogue of ln.cash would be very nice for tipping.
9. LN providers: the amount and quality of LN providers servicing the mint. It's best if their identity is not known since the mint doesn't have to trust its LN providers; but then it might occur that several LN providers are in fact the same person.

I also think that propaganda is the best chance against Bitcoin after direct attacks to shut it down didn't work out (ie cutting out miners in China).

I believe decentralized approach is our best bet: take action in your local community, find what's the most relevant value your community can get from Bitcoin, help onboard people and business, run local meetups, advertisement, support other people doing good work, and share here how its going so that we can all learn from each other.

How about daily or weekly thread, similar to "what are you working on?", maybe who did you orange pill this week?

Also, I think our huge advantage is that Bitcoin is truly global, and therefore its easy for wealthier people (ie folks working in Silicon valley) to financially support efforts in South America or Africa, ie on Geyser.

Here it is. I gave a few implementation options based on our conversation here, while trying not to be too prescriptive.

@ek taught us the delightfully charming phrase “I’m not here to fuck spiders”. Immediately used it on an Aussie friend today. Street cred boosted. Brotherhood underwent a fist bump. Thanks, ek. That is all

https://m.stacker.news/20004

It's not the government is already approving for international banks like they did to their telecom

Yes