@ 97c70a44:ad98e322

I think there's been an inflection point recently in NIPs that are being proposed. Some examples:

• Products with pubkeys: https://github.com/nostr-protocol/nips/pull/1225
• Shared-ownership events: https://github.com/nostr-protocol/nips/pull/1192 and https://github.com/nostr-protocol/nips/pull/1015
• Spreadsheets: https://github.com/nostr-protocol/nips/pull/1189
• Relational databases: https://github.com/nostr-protocol/nips/pull/1168
• Relay-specific notes: https://github.com/nostr-protocol/nips/pull/1146
• Editable notes: https://github.com/nostr-protocol/nips/pull/1090
• Restricted events: https://github.com/nostr-protocol/nips/pull/1083
• Relay-based access control: https://github.com/nostr-protocol/nips/pull/1030
• Protected events: https://github.com/nostr-protocol/nips/pull/1029
• Closed groups: https://github.com/nostr-protocol/nips/pull/875

Some of these I like, some I don't. But most of them go beyond adding new features to nostr (for example audio, video, speedruns, resumes, etc), and begin to change how nostr actually works.

Nostr can be an everything app, but I think that means something very specific. Nostr can represent data types from pretty much any domain, but it can't actually support all the semantics needed to build any arbitrary system.

I would suggest conservatism in what we build on nostr, but of course anyone can build whatever they want. But I do think it's possible to identify things that nostr is good at, and things it's bad at, and play to nostr's strengths.

Nostr's strengths:

• Being able to model any data type orthogonally to the rest
• Single-owner, self-authenticating, atomic data types
• Potential for robust content dispersal and retrieval if we can flesh out NIP 65 etc.

Nostr's weaknesses:

• Mutable state, non-atomic state
• Shared ownership, key delegation/rotation
• Privacy — metadata will always leak, lack of consistency makes key rotation harder
• Consistency — not everyone has the same view of the world
• Transactionality — nostr isn't good for updating multiple pieces of data in lockstep

It happens that the original use case of nostr — public broadcast social media — benefits greatly from nostr's strengths, and isn't bothered by any of nostr's weaknesses. Blob storage like what blossom is building also works well in this paradigm. A lot of the use cases @PABLOF7z​ has identified work beautifully well because of the single-owner public-read nature of nostr, which makes forks easy to model.

But things like access control, relational data, collaborative document creation, heavier datasets, or anything that requires a solution to the double-spend problem become very awkward (or impossible) to model on pure nostr. A simple example of this is lists. Not only is it common for a single user to mess up his follow lists because of a lack of consistency between clients or devices, but commonly requested features like shared ownership lists immediately result in a huge increase of complexity, either on the key management side or on the data structure side. Both of these problems are difficult to solve on nostr due to lack of consistency — keys can't always be reliably or safely shared, and linked data structures spanning multiple events by different authors can be hard to assemble reliably.

I think the danger here is that if we as a developer community fail to realize the limitations of nostr and try to adapt the protocol to fit every possible use case, on an ad-hoc basis, we're going to end up with a tragedy of the commons, where no developer can comprehend what must be done to get his work done, and all kinds of weird artifacts appear for end users that no one can explain.

Here are some suggestions I have for preventing this from happening. I realize no one is going to follow them. But maybe they can be helpful for avoidance of wasted time.

• Don't overload event kinds. Many people (including myself) have tried to extend kind 0 with attributes for forms, products, and groups, but that leads to madness. Instead, create a new metadata event signifying a different kind of agent.
• Don't model things as replaceable events if you can avoid it. This creates the problem of shared mutable state, which nostr doesn't have a good story for resolving. They also have a hard limit on how big they can be.
• Use different keys for different things. For domains where some kind of access control needs to be implemented, not tying everything to your main pubkey makes it possible to create and burn keys as needed. Incidentally, this can help users maintain better privacy. An example of this is private groups, which have a dedicated key separate from the group creator's own key.
• Event ownership should always be (is) single-key. If you need shared ownership, figure out a way to share keys. More work needs to go into key invalidation and rotation for this to really work.
• Explore the fork model — this is "my" version of the same thing, and coexists with rather than supersedes the original. This has potential not just for groups or wiki entries.
• Distinguish between different ways to use relays. Relays may be used as indexers (holding specific event types or supporting different features like search/count), repositories (holding many diverse events, to be used with filters), or curated feeds (to be used without filters, or with only a few filters).

These are just suggestions, and many of them may be wrong. Nostr development is hard, and getting harder. Keep it simple.

@ 6ad3e2a3:c90b7740

I recently finished The Three-Body Problem, which I enjoyed a lot. I love science fiction, and this book in particular reminded me how much I love physics, something I had forgotten over the last 30-odd years amidst reading the dull prose of a few popular books I hoped would have the opposite effect. (Thinking Stephen Hawking among others.) But this book, no matter how unreal the “fiction” part really captured my imagination about what’s possible and fascinating. It made me want to think about it again.

I won’t give the story away in case you want to read it, but one example the author used was how those operating in higher dimensions might trivially peer into the private spaces of our present world, which to our perception consists only in three spatial ones plus time. Imagine a two-dimensional world on a large flat piece of paper. If you draw a circle on the paper, nothing outside the circle can get inside without crossing its boundary.

But a higher-dimensional being could trivially just step (or jump) over the boundary and into the middle. Hence someone in five-dimensional space-time might similarly be able to see through or enter our seemingly closed spaces by stepping “over” our enclosed structure from a dimension hidden from us.

. . .

I’ve started a new book called What Technology Wants about how what we view as technology is an extension of evolution itself, governed by similar axioms and even teleological aims. One contrast he draws between biological evolution and technology is that the former always proceeds stepwise, gradually and “in time” whereas the latter can take leaps “across time,” borrowing from earlier designs and erstwhile abandoned insights and inventions.

Biological evolution can only pass along genes that interact advantageously with the environment and abandons those that do not. But the scientific method, on which much of modern technology is based, allows us to incorporate insights that were ahead of their time, that didn’t initially make the cut. It enables us to gather inputs from anywhere, formulate theories and test their explanatory power against the results. It’s almost as if a new dimension of sorts were added to knowledge creation 350-odd years ago that allowed us to step over the boundaries in which we were formerly constrained.

. . .

The Three-Body Problem, written in 2008 (though there are sequels which I ordered and will start when they arrive), talks about even higher dimensions (buried outside our immediate reach at quantum scales.) Just as someone might step into the two-dimensional circle from the third dimension, perhaps someone can step into a six-dimensional hyper-shape from the seventh. If the scientific method could be said to advance us dimensionally, i.e., to have unlocked a previously unknown process for rapidly accelerating knowledge, one even civilizations as advanced as ancient Greece and Rome lacked, perhaps there are more fundamental modes of mind discoverable yet.

It’s easy to grasp that there are many things we don’t know about reality, but harder to wrap one’s head around the notion that like the ancient Greeks and Romans, despite our many concrete technological achievements, we lack even a basic understanding of the faculties needed to go about it.

As I said, these books got me thinking again.

@ 3bf0c63f:aefa459d

Pequenos problemas que o Estado cria para a sociedade e que não são sempre lembrados

- **vale-transporte**: transferir o custo com o transporte do funcionário para um terceiro o estimula a morar longe de onde trabalha, já que morar perto é normalmente mais caro e a economia com transporte é inexistente.
- **atestado médico**: o direito a faltar o trabalho com atestado médico cria a exigência desse atestado para todas as situações, substituindo o livre acordo entre patrão e empregado e sobrecarregando os médicos e postos de saúde com visitas desnecessárias de assalariados resfriados.
- **prisões**: com dinheiro mal-administrado, burocracia e péssima alocação de recursos -- problemas que empresas privadas em competição (ou mesmo sem qualquer competição) saberiam resolver muito melhor -- o Estado fica sem presídios, com os poucos existentes entupidos, muito acima de sua alocação máxima, e com isto, segundo a bizarra corrente de responsabilidades que culpa o juiz que condenou o criminoso por sua morte na cadeia, juízes deixam de condenar à prisão os bandidos, soltando-os na rua.
- **justiça**: entrar com processos é grátis e isto faz proliferar a atividade dos advogados que se dedicam a criar problemas judiciais onde não seria necessário e a entupir os tribunais, impedindo-os de fazer o que mais deveriam fazer.
- **justiça**: como a justiça só obedece às leis e ignora acordos pessoais, escritos ou não, as pessoas não fazem acordos, recorrem sempre à justiça estatal, e entopem-na de assuntos que seriam muito melhor resolvidos entre vizinhos.
- **leis civis**: as leis criadas pelos parlamentares ignoram os costumes da sociedade e são um incentivo a que as pessoas não respeitem nem criem normas sociais -- que seriam maneiras mais rápidas, baratas e satisfatórias de resolver problemas.
- **leis de trãnsito**: quanto mais leis de trânsito, mais serviço de fiscalização são delegados aos policiais, que deixam de combater crimes por isto (afinal de contas, eles não querem de fato arriscar suas vidas combatendo o crime, a fiscalização é uma excelente desculpa para se esquivarem a esta responsabilidade).
- **financiamento educacional**: é uma espécie de subsídio às faculdades privadas que faz com que se criem cursos e mais cursos que são cada vez menos recheados de algum conhecimento ou técnica útil e cada vez mais inúteis.
- **leis de tombamento**: são um incentivo a que o dono de qualquer área ou construção "histórica" destrua todo e qualquer vestígio de história que houver nele antes que as autoridades descubram, o que poderia não acontecer se ele pudesse, por exemplo, usar, mostrar e se beneficiar da história daquele local sem correr o risco de perder, de fato, a sua propriedade.
- **zoneamento urbano**: torna as cidades mais espalhadas, criando uma necessidade gigantesca de carros, ônibus e outros meios de transporte para as pessoas se locomoverem das zonas de moradia para as zonas de trabalho.
- **zoneamento urbano**: faz com que as pessoas percam horas no trânsito todos os dias, o que é, além de um desperdício, um atentado contra a sua saúde, que estaria muito melhor servida numa caminhada diária entre a casa e o trabalho.
- **zoneamento urbano**: torna ruas e as casas menos seguras criando zonas enormes, tanto de residências quanto de indústrias, onde não há movimento de gente alguma.
- **escola obrigatória + currículo escolar nacional**: emburrece todas as crianças.
- **leis contra trabalho infantil**: tira das crianças a oportunidade de aprender ofícios úteis e levar um dinheiro para ajudar a família.
- **licitações**: como não existem os critérios do mercado para decidir qual é o melhor prestador de serviço, criam-se comissões de pessoas que vão decidir coisas. isto incentiva os prestadores de serviço que estão concorrendo na licitação a tentar comprar os membros dessas comissões. isto, fora a corrupção, gera problemas reais: __(i)__ a escolha dos serviços acaba sendo a pior possível, já que a empresa prestadora que vence está claramente mais dedicada a comprar comissões do que a fazer um bom trabalho (este problema afeta tantas áreas, desde a construção de estradas até a qualidade da merenda escolar, que é impossível listar aqui); __(ii)__ o processo corruptor acaba, no longo prazo, eliminando as empresas que prestavam e deixando para competir apenas as corruptas, e a qualidade tende a piorar progressivamente.
- **cartéis**: o Estado em geral cria e depois fica refém de vários grupos de interesse. o caso dos taxistas contra o Uber é o que está na moda hoje (e o que mostra como os Estados se comportam da mesma forma no mundo todo).
- **multas**: quando algum indivíduo ou empresa comete uma fraude financeira, ou causa algum dano material involuntário, as vítimas do caso são as pessoas que sofreram o dano ou perderam dinheiro, mas o Estado tem sempre leis que prevêem multas para os responsáveis. A justiça estatal é sempre muito rígida e rápida na aplicação dessas multas, mas relapsa e vaga no que diz respeito à indenização das vítimas. O que em geral acontece é que o Estado aplica uma enorme multa ao responsável pelo mal, retirando deste os recursos que dispunha para indenizar as vítimas, e se retira do caso, deixando estas desamparadas.
- **desapropriação**: o Estado pode pegar qualquer propriedade de qualquer pessoa mediante uma indenização que é necessariamente inferior ao valor da propriedade para o seu presente dono (caso contrário ele a teria vendido voluntariamente).
- **seguro-desemprego**: se há, por exemplo, um prazo mínimo de 1 ano para o sujeito ter direito a receber seguro-desemprego, isto o incentiva a planejar ficar apenas 1 ano em cada emprego (ano este que será sucedido por um período de desemprego remunerado), matando todas as possibilidades de aprendizado ou aquisição de experiência naquela empresa específica ou ascensão hierárquica.
- **previdência**: a previdência social tem todos os defeitos de cálculo do mundo, e não importa muito ela ser uma forma horrível de poupar dinheiro, porque ela tem garantias bizarras de longevidade fornecidas pelo Estado, além de ser compulsória. Isso serve para criar no imaginário geral a idéia da __aposentadoria__, uma época mágica em que todos os dias serão finais de semana. A idéia da aposentadoria influencia o sujeito a não se preocupar em ter um emprego que faça sentido, mas sim em ter um trabalho qualquer, que o permita se aposentar.
- **regulamentação impossível**: milhares de coisas são proibidas, há regulamentações sobre os aspectos mais mínimos de cada empreendimento ou construção ou espaço. se todas essas regulamentações fossem exigidas não haveria condições de produção e todos morreriam. portanto, elas não são exigidas. porém, o Estado, ou um agente individual imbuído do poder estatal pode, se desejar, exigi-las todas de um cidadão inimigo seu. qualquer pessoa pode viver a vida inteira sem cumprir nem 10% das regulamentações estatais, mas viverá também todo esse tempo com medo de se tornar um alvo de sua exigência, num estado de terror psicológico.
- **perversão de critérios**: para muitas coisas sobre as quais a sociedade normalmente chegaria a um valor ou comportamento "razoável" espontaneamente, o Estado dita regras. estas regras muitas vezes não são obrigatórias, são mais "sugestões" ou limites, como o salário mínimo, ou as 44 horas semanais de trabalho. a sociedade, porém, passa a usar esses valores como se fossem o normal. são raras, por exemplo, as ofertas de emprego que fogem à regra das 44h semanais.
- **inflação**: subir os preços é difícil e constrangedor para as empresas, pedir aumento de salário é difícil e constrangedor para o funcionário. a inflação força as pessoas a fazer isso, mas o aumento não é automático, como alguns economistas podem pensar (enquanto alguns outros ficam muito satisfeitos de que esse processo seja demorado e difícil).
- **inflação**: a inflação destrói a capacidade das pessoas de julgar preços entre concorrentes usando a própria memória.
- **inflação**: a inflação destrói os cálculos de lucro/prejuízo das empresas e prejudica enormemente as decisões empresariais que seriam baseadas neles.
- **inflação**: a inflação redistribui a riqueza dos mais pobres e mais afastados do sistema financeiro para os mais ricos, os bancos e as megaempresas.
- **inflação**: a inflação estimula o endividamento e o consumismo.
- **lixo:** ao prover coleta e armazenamento de lixo "grátis para todos" o Estado incentiva a criação de lixo. se tivessem que pagar para que recolhessem o seu lixo, as pessoas (e conseqüentemente as empresas) se empenhariam mais em produzir coisas usando menos plástico, menos embalagens, menos sacolas.
- **leis contra crimes financeiros:** ao criar legislação para dificultar acesso ao sistema financeiro por parte de criminosos a dificuldade e os custos para acesso a esse mesmo sistema pelas pessoas de bem cresce absurdamente, levando a um percentual enorme de gente incapaz de usá-lo, para detrimento de todos -- e no final das contas os grandes criminosos ainda conseguem burlar tudo.

@ 3bf0c63f:aefa459d

Músicas grudentas e conversas

Uma vez que você ouviu uma música grudenta e ela volta, inteira, com toda a melodia e a harmonia, muitos dias depois, contra a sua vontade. Mas uma conversa é impossível de lembrar. Por quê?

@ 7ca66d41:0a388ca3

Plenty who understand DIDs have already commented on the tech issues with this solution, I wanted to explain the business and market reasons this is DOA.

First of all, what problem are they trying to solve?

Email security is the first usecase they’re rolling out. Specifically addressing spoofing which is a real problem for Enterprises. Other usecases are mentioned for futures but clearly MSTR and Saylor believe - as he’s said many times - that verifiable identities will solve this business problem.

So what is spoofing? A form of social engineering which attempts to deceive a message recipient (typically email but increasingly Slack/Teams/Zoom are targeted) that a message was sent from a known or trusted source; usually by manipulating email headers or using lookalike domains.

Typically it is used by scammers for simple frauds by instructing people to act. Either by directing them to send money or gift cards, change banking details, or to get additional information they can use for downstream attacks.

MicroStrategy Orange seeks to help Enterprise avoid spoofing by authenticating a signature for a User’s email which is anchored to the Bitcoin blockchain.

As they reference in the keynote - signatures for email are not new. SMIME has been around forever and it isn’t widely used because it introduces its own set of complexities.

What enterprises ++have++ done for years is rely on Secure Email Gateways (SEGs) to reduce the volume of malicious emails reaching Users. This is a software layer inserted in the mail flow which inspects email for things like malware or malicious URLs by checking them against known bad.

This worked well enough for a long time and multibillion dollar companies such as ProofPoint and Mimecast were built around it. The method is not foolproof, but their success is why scammers had to adapt and start using more social engineering attacks because these are less likely to be picked up by a SEG which tends to look for malware hashes, low reputation domains etc.

Next Generation email security is already here and being adopted by Enterprises.

Abnormal Security is the leader in this new category. They intercept traffic and feed it into a cloud “AI engine” which analyses hundreds of data points per email - like Crowdstrike for email. It builds a baseline of what “normal” email behaviour looks like for each User in an Enterprise and then use these signals to look for abnormalities.

This starts with things like the IP address of the sender (ie they always send from an office and now suddenly are sending from Russia), and relationships (ie the CEO who supposedly sent this has never emailed this lowly employee in Accounts Payable), but goes much deeper.

They use language analysis to parse emails for things like urgency, calls to action, financial requests, as well as if the email matches the writing style of the person being spoofed (“please do the needful” won’t fly in 2024).

This is very powerful because it’s not reliant on a static list of known bad which the vendors need maintain, but rather is analysing signals in real time to pickup these modern threats where SEGs are weak and because it’s done in Abnormal’s cloud, they can cross-pollinate for their expanding customer base which constantly improves the tech for all.

If the email doesn’t meet a threshold score it simply won’t be delivered to the end user, the same as a SEG blocks emails with malicious attachments. ++This is what Security teams actually want++, as it reduces the reliance on the weakest link - the End User - acting correctly (ie verifying an Orange signature) and simply takes the bad email out of their flow altogether.

Abnormal have taken the lead in this space with ProofPoint and Mimecast playing catchup, and others will likely emerge. But these are the tools that large Enterprises are already adopting to address this challenge.

No Cybersecurity professional is going to look at this Orange Check solution and see it as useful.

Their first point will be that which nostr:npub1gcxzte5zlkncx26j68ez60fzkvtkm9e0vrwdcvsjakxf9mu9qewqlfnj5z pointed out - bad actors will be able to get their own DID so relying on them is futile.

Secondly, unless they are ubiquitous to the point company’s would refuse non-DID signed email, then they have to leave non-Orange Checked emails to User discretion which is exactly what they don’t want to do.

Finally if this approach was going to be feasible, Microsoft (MSTR’s biggest competitor) would have already made it work - they dominate enterprise email and would have baked this in to their offering - they’re not going to allow a competitor to come in and monetise a product in that space, that’s simply not how big business works.

So what is the one chance that MicroStrategy has for this to be successful?

They will need to get the US Government onboard as a large customer and lobby to have Cybersecurity compliance frameworks require it - ie Gov entities won’t accept incoming mail without it.

Compliance tends to create its own industry; in consulting, certification, and technology solutions.

The only way this gets broad adoption is if some US Government Institution sees an ability to price out Bitcoin transactions by pushing this non-monetary usecase and forcing others to join in by mandating DIDs, and Big 4 consultancies see an ability to create an industry around it.

I don’t know how they could justify that. Certainly for email they couldn’t, possibly for codesigning or internet access or something I guess they could try as part of “secure digital supply chains”.

So if these Orange Checks somehow do gain traction you can be certain, ++100% certain++, it’s not because the free market thought they were a good solution and actually solve a problem but rather because powerful entities want to kneecap Bitcoin.

Of all the things Michael Saylor could do with 1% of the only absolutely scarce asset in the world, deciding to go this route for his company’s first project on Bitcoin is incredibly strange.

It’s as if he hasn’t actually spoken to any customers about how they’re doing email security today and instead just rolled with an idea that sounded good on paper but is in practice, useless.

I’m doubtful it will go anywhere and will be far more sceptical if it actually does.

@ cce0989b:b497e608

Old Happy culture taught you that, if you can just find a way to be perfect, then everything will be okay.

Then you'll be happy. Then you'll feel like you belong. Then you'll be able to make a difference in the world.

It doesn't work that way. In fact, it's the opposite: the sooner that you realize that you're acceptable right now, exactly as you are, the sooner you will be able to be happy, to discover your sense of belonging, and to make a positive impact on others.

Start saying to yourself, “I’m acceptable right now, exactly as I am.” Then watch what happens—how your self-acceptance helps you to grow.

@ ee7d2dbe:4a5410b0

In today's rapidly evolving technological landscape, the influence of artificial intelligence (AI) extends its transformative reach across diverse industries. From healthcare and finance to security, military defense, and beyond, AI-powered technologies and business models are reshaping the way we interact with the world. The pervasive impact of AI is evident in the daily lives of millions of users who engage with it directly or indirectly, whether through virtual assistants, facial recognition technology, gaming platforms, chatbots, mapping apps, or various other software applications.

The commitment to AI development is unmistakable among major technology players, with industry giants like Google, Amazon, Apple, and Microsoft channeling substantial resources into advancing the frontiers of artificial intelligence. This collective effort underscores the pervasive influence AI wields across the technology spectrum.

In this dynamic era of technological advancement, we embark on a journey to explore the forefront of AI innovation. Join us as we delve into the realm of the "Top AI Development Companies to Explore in 2024." This curated list shines a spotlight on organizations that have demonstrated exceptional expertise, groundbreaking projects, and a commitment to shaping the future through artificial intelligence. From revolutionizing industries to pioneering groundbreaking research, these companies stand out for their contributions to the ever-expanding AI ecosystem.

Factors to Consider when Selecting the Top AI Development Companies

Selecting the right AI development company is a critical decision that can significantly impact the success of your project. Several key factors should be considered when evaluating and choosing the top AI development companies

Here are some well-defined criteria that will guide you in making a good decision when selecting an Top Ai development company:

· Knowledge and Proficiency · Portfolio and Track Record · Technical Proficiency · Innovation and Research · Scalability and Flexibility · Compliance and Data Security · Collaborative Approach · Testimonials and Client References · Cost and Value Proposition · Post-Deployment Support · Communication and Transparency · Cultural Fit

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AI development companies Play a pivotal role in shaping the technological landscape, contributing to advancements that influence various industries and aspects of our daily lives. The importance of these companies can be understood through several key dimensions: · Innovation and Research Leadership · Industry-Specific Solutions · Automation and Optimization · Enhanced User Experiences · Data Analysis and Decision-Making · Technological Integration · Security and Defence Applications · Global Economic Impact · Addressing Societal Challenges · Continuous Evolution of Technology

1. Agicent

Agicent stands as a prominent AI development company committed to crafting innovative digital solutions. With a focus on user-centric design and cutting-edge technologies, Agicent specializes in delivering bespoke AI applications that redefine industry standards. Their passion for excellence and creativity sets them apart, making them a trusted partner for businesses seeking transformative AI solutions. Customer Testimonials: Agicent’s clients commend the company for its dedication to client satisfaction. Positive feedback highlights Agicent’s ability to deliver high-quality solutions on time and within budget. Clients appreciate the transparent communication and collaborative approach that have fostered long-term, successful partnerships. Core Specialized Areas: Agicent showcases expertise across diverse industries, including retail, sports, and media. Their tailored AI solutions address specific challenges within these sectors, providing clients with innovative tools to stay ahead in their respective fields. Top Notable Clients: Agicent’s impressive client portfolio includes a range of companies seeking cutting-edge AI solutions to optimize their business operations. Their success stories underscore Agicent’s impact on businesses across various sectors. Their notable clients are HASfit and Aiko. Why Choose Agicent for AI Development

Choosing Agicent for AI development offers a multitude of compelling reasons that set us apart in the industry: Proven Expertise: With a track record spanning several years, Agicent has demonstrated expertise in AI development, consistently delivering cutting-edge solutions across diverse industries. Client-Centric Approach: Agicent prioritizes client satisfaction, ensuring a collaborative and transparent development process. We take the time to understand your unique needs and tailor AI solutions that align with your business objectives. Innovation at the Core: At Agicent, innovation is not just a goal; it’s a fundamental value. Our team is dedicated to staying ahead of technological trends, offering clients access to the latest advancements in AI development. Customization for Your Business: We recognize that each business is unique. Agicent crafts bespoke AI solutions tailored to your specific requirements, whether you’re in retail, sports, media, or any other industry. Award-Winning Recognition: Our commitment to excellence has been acknowledged through awards and recognition, underscoring Agicent’s standing as a leading AI development company. Transparent Project Management: Agicent ensures clear and transparent communication throughout the development lifecycle, keeping you informed and engaged at every stage of your AI project. AI Accuracy Guarantee: We provide an additional layer of confidence with our AI Accuracy Guarantee, assuring the precision and effectiveness of the final product. Global Presence: With a presence in key tech hubs like Silicon Valley, Agicent leverages a global perspective, bringing diverse insights and experiences to the table. Established: 2010 Team Size: 200 Location: Noida India Clutch Rating: 4.8 2. SoluLab

SoluLab is a dynamic AI development company that leverages technology to drive digital transformation. With a customer-centric approach, SoluLab specializes in creating robust AI solutions that empower businesses and enhance their digital capabilities. Their commitment to innovation and excellence positions them as a reliable partner for organizations seeking to harness the power of AI. 3. LeewayHertz

LeewayHertz, a frontrunner in AI development, is dedicated to creating transformative digital experiences. With a mission to empower businesses through technology, LeewayHertz specializes in developing AI solutions that drive innovation and growth. Their commitment to pushing technological boundaries positions them as leaders in the AI development landscape

1. Sumatosoft

Sumatosoft stands out as an AI development company committed to delivering high-quality, innovative solutions. With a customer-centric approach, Sumatosoft specializes in crafting AI applications that address complex business challenges. Their emphasis on transparency, reliability, and excellence makes them a trusted partner for businesses seeking AI-driven digital transformation.

1. AIBrain

AIBrain, a trailblazer in the AI landscape, is committed to pushing the boundaries of artificial intelligence. With a mission to create intelligent systems that emulate human cognition, AIBrain specializes in developing advanced AI solutions. Their emphasis on cognitive computing positions them at the forefront of innovation in the AI development sector.

In the ever-evolving landscape of AI development, Agicent emerges as a beacon of innovation and client-centric solutions. With a commitment to excellence and a track record of success, Agicent stands poised to redefine the future of AI applications. Explore the limitless potential of AI with Agicent and pave the way for a digital tomorrow that transcends boundaries and exceeds expectations.

                            Source: https://netvorker.com/

@ c11cf5f8:4928464d

Hey stackers, let’s lay down your unique and unusual offerings. Unveil the unexpected!

Need a hand? Check our guides… What hidden gems do y'all have up for sale? Let's rustle up some dusted serendipitous and it in the ~AGORA
marketplace.


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Click any link👇below to start! [⚖️ SELL] - [🛒 BUY] - [🧑‍💻 HIRE] - [🖇 OFFER] - [🧑‍⚖️ AUCTION] - [🤝 SWAP] - [🆓 FREE] - [⭐ REVIEW]

@ 58e590f6:979226bd

I'm trying to build a tauri nostr desktop app, but I think I need to do something like discord where they login via nostr on the web and get a callback url like tauri://auth?token=abc or something but I have no idea how to do this.

I can handle the callback url i just don't know what to pass or how to authenticate from a desktop app after given a token. The idea is the user will be authenticated in the desktop app and can do all nostr related tasks.

@ 57d1a264:69f1fee1

Prompt: Create New ===============

Create a design for a user to create something. Maybe it's a new document, a new design file, or a component such as creating a new column in a spreadsheet.

---

Flex your design muscles and join in. Most of all, keep this exercise loose and keep it stress-free. The FUC is about growing our design skills, together, as a community. We can't wait to see what you create!

Happy designing, Stackers!

---

Share Your Results When you finish the challenge, post your work on this thread! If you also share it on nostr, be sure to use the hashtag #FUCdesiger and tag Design_r@iris.to or @Design__r on X! We'll keep an eye out and repost good examples on a regular basis.

---

Curious to know WTF is a FUC? Read the ⚡️Flash Ui Challenges welcoming post.

Looking for more FUCs? Check the archive here!

@ 3bf0c63f:aefa459d

Bluesky is a scam

Bluesky advertises itself as an open network, they say people won't lose followers or their identity, they advertise themselves as a protocol ("atproto") and because of that they are tricking a lot of people into using them. These three claims are false.

protocolness

Bluesky is a company. "atproto" is the protocol. Supposedly they are two different things, right? Bluesky just releases software that implements the protocol, but others can also do that, it's open!

And yet, the protocol has an official webpage with a waitlist and a private beta? Why is the protocol advertised as a company product? Because it is. The "protocol" is just a description of whatever the Bluesky app and servers do, it can and does change anytime the Bluesky developers decide they want to change it, and it will keep changing for as long as Bluesky apps and servers control the biggest part of the network.

Oh, so there is the possibility of other players stepping in and then it becomes an actual interoperable open protocol? Yes, but what is the likelihood of that happening? It is very low. No serious competitor is likely to step in and build serious apps using a protocol that is directly controlled by Bluesky. All we will ever see are small "community" apps made by users and small satellite small businesses -- not unlike the people and companies that write plugins, addons and alternative clients for popular third-party centralized platforms.

And last, even if it happens that someone makes an app so good that it displaces the canonical official Bluesky app, then that company may overtake the protocol itself -- not because they're evil, but because there is no way it cannot be like this.

identity

According to their own documentation, the Bluesky people were looking for an identity system that provided global ids, key rotation and human-readable names.

They must have realized that such properties are not possible in an open and decentralized system, but instead of accepting a tradeoff they decided they wanted all their desired features and threw away the "decentralized" part, quite literally and explicitly (although they make sure to hide that piece in the middle of a bunch of code and text that very few will read).

The "DID Placeholder" method they decided to use for their global identities is nothing more than a normal old boring trusted server controlled by Bluesky that keeps track of who is who and can, at all times, decide to ban a person and deprive them from their identity (they dismissively call a "denial of service attack").

They decided to adopt this method as a placeholder until someone else doesn't invent the impossible alternative that would provide all their desired properties in a decentralized manner -- which is nothing more than a very good excuse: "yes, it's not great now, but it will improve!".

openness

Months after launching their product with an aura of decentralization and openness and getting a bunch of people inside that believed, falsely, they were joining an actually open network, Bluesky has decided to publish a part of their idea of how other people will be able to join their open network.

When I first saw their app and how they were very prominently things like follower counts, like counts and other things that are typical of centralized networks and can't be reliable or exact on truly open networks (like Nostr), I asked myself how were they going to do that once they became and open "federated" network as they were expected to be.

Turns out their decentralization plan is to just allow you, as a writer, to host your own posts on "personal data stores", but not really have any control over the distribution of the posts. All posts go through the Bluesky central server, called BGS, and they decide what to do with it. And you, as a reader, doesn't have any control of what you're reading from either, all you can do is connect to the BGS and ask for posts. If the BGS decides to ban, shadow ban, reorder, miscount, hide, deprioritize, trick or maybe even to serve ads, then you are out of luck.

Oh, but anyone can run their own BGS!, they will say. Even in their own blog post announcing the architecture they assert that "it’s a fairly resource-demanding service" and "there may be a few large full-network providers". But I fail to see why even more than one network provider will exist, if Bluesky is already doing that job, and considering the fact there are very little incentives for anyone to switch providers -- because the app does not seem to be at all made to talk to multiple providers, one would have to stop using the reliable, fast and beefy official BGS and start using some half-baked alternative and risk losing access to things.

When asked about the possibility of switching, one of Bluesky overlords said: "it would look something like this: bluesky has gone evil. there's a new alternative called freesky that people are rushing to. I'm switching to freesky".

The quote is very naïve and sounds like something that could be said about Twitter itself: "if Twitter is evil you can just run your own social network". Both are fallacies because they ignore the network-effect and the fact that people will never fully agree that something is "evil". In fact these two are the fundamental reasons why -- for social networks specifically (and not for other things like commerce) -- we need truly open protocols with no owners and no committees.

@ 3bf0c63f:aefa459d

Jofer

Jofer era um jogador diferente. À primeira vista não, parecia igual, um volante combativo, perseguia os atacantes adversários implacavelmente, um bom jogador. Mas não era essa a característica que diferenciava Jofer. Jofer era, digamos, um chutador.

Começou numa semifinal de um torneio de juniores. O time de Jofer precisava do empate e estava sofrendo uma baita pressão do adversário, mas o jogo estava 1 a 1 e parecia que ia ficar assim mesmo, daquele jeito futebolístico que parece, parece mesmo. Só que aos 46 do segundo tempo tomaram um gol espírita, Ruizinho do outro time saiu correndo pela esquerda e, mesmo sendo canhoto, foi cortando para o meio, os zagueiros meio que achando que já tinha acabado mesmo, devia ter só mais aquele lance, o árbitro tinha dado dois minutos, Ruizinho chutou, marcou e o goleiro, que só pulou depois que já tinha visto que não ia ter jeito, ficou xingando.

A bola saiu do meio e tocaram para Jofer, ninguém nem veio marcá-lo, o outro time já estava comemorando, e com razão, o juiz estava de sacanagem em fazer o jogo continuar, já estava tudo acabado mesmo. Mas não, estava certo, mais um minuto de acréscimo, justo. Em um minuto dá pra fazer um gol. Mas como? Jofer pensou nas partidas da NBA em que com alguns centésimos de segundo faltando o armador jogava de qualquer jeito para a cesta e às vezes acertava. De trás do meio de campo, será? Não vou ter nem força pra fazer chegar no gol. Vou virar piada, melhor tocar pro Fumaça ali do lado e a gente perde sem essa humilhação no final. Mas, poxa, e daí? Vou tentar mesmo assim, qualquer coisa eu falo que foi um lançamento e daqui a uns dias todo mundo esquece. Olhou para o próprio pé, virou ele de ladinho, pra fora e depois pra dentro (bom, se eu pegar daqui, direitinho, quem sabe?), jogou a bola pro lado e bateu. A bola subiu escandalosamente, muito alta mesmo, deve ter subido uns 200 metros. Jofer não tinha como ter a menor noção. Depois foi descendo, o goleirão voltando correndo para debaixo da trave e olhando pra bola, foi chegando e pulando já só pra acompanhar, para ver, dependurado no travessão, a bola sair ainda bem alta, ela bateu na rede lateral interna antes de bater no chão, quicar violentamente e estufar a rede no alto do lado direito de quem olhava.

Mas isso tudo foi sonho do Jofer. Sonhou acordado, numa noite em que demorou pra dormir, deitado na sua cama. Ficou pensando se não seria fácil, se ele treinasse bastante, acertar o gol bem de longe, tipo no sonho, e se não dava pra fazer gol assim. No dia seguinte perguntou a Brunildinho, o treinador de goleiros. Era difícil defender essas bolas, ainda mais se elas subissem muito, o goleiro ficava sem perspectiva, o vento alterava a trajetória a cada instante, tinha efeito, ela cairia rápido, mas claro que não valia à pena treinar isso, a chance de acertar o gol era minúscula. Mas Jofer só ia tentar depois que treinasse bastante e comprovasse o que na sua imaginação parecia uma excelente idéia.

Começou a treinar todos os dias. Primeiro escondido, por vergonha dos colegas, chegava um pouco antes e ficava lá, chutando do círculo central. Ao menor sinal de gente se aproximando, parava e ia catar as bolas. Depois, quando começou a acertar, perdeu a vergonha. O pessoal do clube todo achava engraçado quando via Jofer treinando e depois ouvia a explicação da boca de alguém, ninguém levava muito a sério, mas também não achava de todo ridículo. O pessoal ria, mas no fundo torcia praquilo dar certo, mesmo.

Aconteceu que num jogo que não valia muita coisa, empatezinho feio, aos 40 do segundo tempo, a marcação dos adversários já não estava mais pressionando, todo mundo contente com o empate e com vontade de parar de jogar já, o Henrique, meia-esquerdo, humilde, mas ainda assim um pouco intimidante para Jofer (jogava demais), tocou pra ele. Vai lá, tenta sua loucura aí. Assumiu a responsabilidade do nosso volante introspectivo. Seria mais verossímil se Jofer tivesse errado, primeira vez que tentou, restava muito tempo ainda pra ele ter a chance de ser herói, ninguém acerta de primeira, mas ele acertou. Quase como no sonho, Lucas, o goleiro, não esperava, depois que viu o lance, riu-se, adiantou-se para pegar a bola que ele julgava que quicaria na área, mas ela foi mais pra frente, mais e mais, daí Lucas já estava correndo, só que começou a pensar que ela ia pra fora, e ele ia só se dependurar no travessão e fazer seu papel de estar na bola. Acabou que por conta daquele gol eles terminaram em segundo no grupo daquele torneiozinho, ao invés de terceiro, e não fez diferença nenhuma.

@ 3bf0c63f:aefa459d

O caso da Grêmio TV

enquanto vinha se conduzindo pela plataforma superior daquela arena que se pensava totalmente preenchida por adeptos da famosa equipe do Grêmio de Porto Alegre, viu-se, como por obra de algum nigromante - dos muitos que existem e estão a todo momento a fazer más obras e a colocar-se no caminhos dos que procuram, se não fazer o bem acima de todas as coisas, a pelo menos não fazer o mal no curso da realização dos seus interesses -, o discretíssimo jornalista a ser xingado e moído em palavras por uma horda de malandrinos a cinco ou seis passos dele surgida que cantavam e moviam seus braços em movimentos que não se pode classificar senão como bárbaros, e assim cantavam:

Grêmio TV pior que o SBT !

@ 3bf0c63f:aefa459d

Replacing the web with something saner

This is a simplification, but let's say that basically there are just 3 kinds of websites:

1. Websites with content: text, images, videos;
2. Websites that run full apps that do a ton of interactive stuff;
3. Websites with some interactive content that uses JavaScript, or "mini-apps";

In a saner world we would have 3 different ways of serving and using these. 1 would be "the web" (and it was for a while, although I'm not claiming here that the past is always better and wanting to get back to the glorious old days).

1 would stay as "the web", just static sites, styled with CSS, no JavaScript whatsoever, but designers can still thrive and make they look pretty. Or it could also be something like Gemini. Maybe the two protocols could coexist.

2 would be downloadable native apps, much easier to write and maintain for developers (considering that multi-platform and cross-compilation is easy today and getting easier), faster, more polished experience for users, more powerful, integrates better with the computer.

(Remember that since no one would be striving to make the same app run both on browsers and natively no one would have any need for Electron or other inefficient bloated solutions, just pure native UI, like the Telegram app, have you seen that? It's fast.)

But 2 is mostly for apps that people use every day, something like Google Docs, email (although email is also broken technology), Netflix, Twitter, Trello and so on, and all those hundreds of niche SaaS that people pay monthly fees to use, each tailored to a different industry (although most of functions they all implement are the same everywhere). What do we do with dynamic open websites like StackOverflow, for example, where one needs to not only read, but also search and interact in multiple ways? What about that website that asks you a bunch of questions and then discovers the name of the person you're thinking about? What about that mini-app that calculates the hash of your provided content or shrinks your video, or that one that hosts your image without asking any questions?

All these and tons of others would fall into category 3, that of instantly loaded apps that you don't have to install, and yet they run in a sandbox.

The key for making category 3 worth investing time into is coming up with some solid grounds, simple enough that anyone can implement in multiple different ways, but not giving the app too much choices.

Telegram or Discord bots are super powerful platforms that can accomodate most kinds of app in them. They can't beat a native app specifically made with one purpose, but they allow anyone to provide instantly usable apps with very low overhead, and since the experience is so simple, intuitive and fast, users tend to like it and sometimes even pay for their services. There could exist a protocol that brings apps like that to the open world of (I won't say "web") domains and the websockets protocol -- with multiple different clients, each making their own decisions on how to display the content sent by the servers that are powering these apps.

Another idea is that of Alan Kay: to design a nice little OS/virtual machine that can load these apps and run them. Kinda like browsers are today, but providing a more well-thought, native-like experience and framework, but still sandboxed. And I add: abstracting away details about design, content disposition and so on.

---

These 3 kinds of programs could coexist peacefully. 2 are just standalone programs, they can do anything and each will be its own thing. 1 and 3, however, are still similar to browsers of today in the sense that you need clients to interact with servers and show to the user what they are asking. But by simplifying everything and separating the scopes properly these clients would be easy to write, efficient, small, the environment would be open and the internet would be saved.

See also

• On the state of programs and browsers

@ 3bf0c63f:aefa459d

IPFS problems: General confusion

Most IPFS open-source projects, libraries and apps (excluding Ethereum stuff) are things that rely heavily on dynamic data and temporary links. The most common projects you'll see when following the IPFS communities are chat rooms and similar things. I've seen dozens of these chat-rooms. There's also a famous IPFS-powered database. How can you do these things with content-addressing is a mistery. Of course they probably rely on IPNS or other external address system.

There's also a bunch of "file-sharing" on IPFS. The kind of thing people use for temporary making a file available for a third-party. There's image sharing on IPFS, pastebins on IPFS and so on. People don't seem to share the preoccupation with broken links here.

@ 3bf0c63f:aefa459d

Scala is such a great language

Scala is amazing. The type system has the perfect balance between flexibility and powerfulness. match statements are great. You can write imperative code that looks very nice and expressive (and I haven't tried writing purely functional things yet). Everything is easy to write and cheap and neovim integration works great.

But Java is not great. And the fact that Scala is a JVM language doesn't help because over the years people have written stuff that depends on Java libraries -- and these Java libraries are not as safe as the Scala libraries, they contain reflection, slowness, runtime errors, all kinds of horrors.

Scala is also very tightly associated with Akka, the actor framework, and Akka is a giant collection of anti-patterns. Untyped stuff, reflection, dependency on JVM, basically a lot of javisms. I just arrived and I don't know anything about the Scala history or ecosystem or community, but I have the impression that Akka has prevent more adoption of Scala from decent people that aren't Java programmers.

But luckily there is a solution -- or two solutions: ScalaJS is a great thing that exists. It transpiles Scala code into JavaScript and it runs on NodeJS or in a browser!

Scala Native is a much better deal, though, it compiles to LLVM and then to binary code and you can have single binaries that run directly without a JVM -- not that the single JARs are that bad though, they are great and everybody has Java so I'll take that anytime over C libraries or NPM-distributed software, but direct executables even better. Scala Native just needs a little more love and some libraries and it will be the greatest thing in a couple of years.

@ 3bf0c63f:aefa459d

Que vença o melhor

Nos esportes e jogos em geral, existe uma constante preocupação em balancear os incentivos e atributos do jogo, as regras do esporte em si e as regras das competições para que o melhor vença, ou, em outras palavras, para que sejam minimizados os outros fatores exceto a habilidade mais pura quanto possível no jogo em questão.

O mundo fora dos jogos, porém, nem sempre pode ter suas regras mudadas por um ente que as controla e está imbuído da vontade e dos meios para escolher as melhores regras possíveis para a obtenção dos resultados acima. Aliás, é muitas vezes essa possibilidade é até impensável. Mesmo quando ela é pensável e levada em conta os fatores que operam no mundo real não são facilmente identificáveis, eles são muitos, e mudam o tempo todo.

Mais do que isso, ao contrário de um jogo em que o objetivo é praticamente o mesmo para todo mundo, os objetivos de cada agente no mundo real são diferentes e incontáveis, e as "competições" que cada um está disputando são diferentes e muitas, cada minúsculo ato de suas vidas compreendendo várias delas simultaneamente.

Da mesma forma, é impossível conceber até mesmo o conceito de "melhor" para que se deseje que ele vença.

Mesmo assim é comum encontrarmos em várias situações gente que parte do princípio de que se Fulano está num certo lugar (por exemplo, um emprego muito bom) e Beltrano não isso se deve ao fato de Fulano ter sido melhor que Beltrano.

Está aí uma crítica à idéia da meritocracia (eu tinha me esquecido que essa palavra existia).

@ 3bf0c63f:aefa459d

Token-Curated Registries

So you want to build a TCR?

TCRs (Token Curated Registries) are a construct for maintaining registries on Ethereum. Imagine you have lots of scissor brands and you want a list with only the good scissors. You want to make sure only the good scissors make into that list and not the bad scissors. For that, people will tell you, you can just create a TCR of the best scissors!

It works like this: some people have the token, let's call it Scissor Token. Some other person, let's say it's a scissor manufacturer, wants to put his scissor on the list, this guy must acquire some Scissor Tokens and "stake" it. Holders of the Scissor Tokens are allowed to vote on "yes" or "no". If "no", the manufactures loses his tokens to the holders, if "yes" then its tokens are kept in deposit, but his scissor brand gets accepted into the registry.

Such a simple process, they say, have strong incentives for being the best possible way of curating a registry of scissors: consumers have the incentive to consult the list because of its high quality; manufacturers have the incentive to buy tokens and apply to join the list because the list is so well-curated and consumers always consult it; token holders want the registry to accept good and reject bad scissors because that good decisions will make the list good for consumers and thus their tokens more valuable, bad decisions will do the contrary. It doesn't make sense, to reject everybody just to grab their tokens, because that would create an incentive against people trying to enter the list.

Amazing! How come such a simple system of voting has such enourmous features? Now we can have lists of everything so well-curated, and for that we just need Ethereum tokens!

Now let's imagine a different proposal, of my own creation: SPCR, Single-person curated registries.

Single-person Curated Registries are equal to TCR, except they don't use Ethereum tokens, it's just a list in a text file kept by a single person. People can apply to join, and they will have to give the single person some amount of money, the single person can reject or accept the proposal and so on.

Now let's look at the incentives of SPCR: people will want to consult the registry because it is so well curated; vendors will want to enter the registry because people are consulting it; the single person will want to accept the good and reject the bad applicants because these good decisions are what will make the list valuable.

Amazing! How such a single proposal has such enourmous features! SPCR are going to take over the internet!

What TCR enthusiasts get wrong?

TCR people think they can just list a set of incentives for something to work and assume that something will work. Mix that with Ethereum hype and they think theyve found something unique and revolutionary, while in fact they're just making a poor implementation of "democracy" systems that fail almost everywhere.

The life is not about listing a set of "incentives" and then considering the problems solved. Almost everybody on the Earth has the incentive for being rich: being rich has a lot of advantages over being poor, however not all people get rich! Why are the incentives failing?

Curating lists is a hard problem, it involves a lot of knowledge about the problem that just holding a token won't give you, it involves personal preferences, politics, it involves knowing where is the real limit between "good" and "bad". The Single Person list may have a good result if the single person doing the curation is knowledgeable and honest (yes, you can game the system to accept your uncle's scissors and not their competitor that is much better, for example, without losing the entire list reputation), same thing for TCRs, but it can also fail miserably, and it can appear to be good but be in fact not so good. In all cases, the list entries will reflect the preferences of people choosing and other things that aren't taken into the incentives equation of TCR enthusiasts.

We don't need lists

The most important point to be made, although unrelated to the incentive story, is that we don't need lists. Imagine you're looking for a scissor. You don't want someone to tell if scissor A or B are "good" or "bad", or if A is "better" than B. You want to know if, for your specific situation, or for a class of situations, A will serve well, and do that considering A's price and if A is being sold near you and all that.

Scissors are the worst example ever to make this point, but I hope you get it. If you don't, try imagining the same example with schools, doctors, plumbers, food, whatever.

Recommendation systems are badly needed in our world, and TCRs don't solve these at all.

@ 3bf0c63f:aefa459d

Precautionary Principle

The precautionary principle that people, including Nassim Nicholas Taleb, love and treat as some form of wisdom, is actually just a justification for arbitrary acts.

In a given situation for which there's no sufficient knowledge, either A or B can be seen as risky or precautionary measures, there's no way to know except if you have sufficient knowledge.

---

Someone could reply saying, for example, that the known risk of A is tolerable to the unknown, probably magnitudes bigger, risk of B. Unless you know better or at least have a logical explanation for the risks of B (a thing "scientists" don't have because they notoriously dislike making logical claims), in which case you do know something and is not invoking the precautionary principle anymore, just relying on your logical reasoning – and that can be discussed and questioned by others, undermining your intended usage of the label "precautionary principle" as a magic cover for your actions.

@ 502ab02a:a2860397

สตอรี่ ชีสเค้ก (Story Cheesecake) : ep2 ขึ้นต้นด้วยคุ้กกี้ พอแตกใบอ่อนเป็นอารายว๊า

จำกันได้ไหม ครั้งแรกที่คุณหัดทำเบเกอรี่ ขนมอะไรที่เริ่มหัดทำเป็นอย่างแรกๆ เชื่อว่าร้อยทั้งร้อยคงไม่พ้น คุ้กกี้ บราวนี่ พวกเราเองก็เหมือนกัน วัตถุดิบอย่างแป้งอัลมอนด์สมัยนั้นถ้าไม่ใช่คนที่เคยทำมาการองมาก่อน ก็แทบจะไม่รู้เลยว่าซื้อกันที่ไหน เผลอๆกว่าจะตั้งตัวได้ว่าเราจะพูดกับคนขายว่าอะไรลำพังแค่แป้งอัลมอนด์เด็กที่ร้านหลายร้านก็งง หาในเนทไหนจะ อัลมอนด์มิล อัลมอนด์กราว อัลมอนด์ป่น เย้ยยยยย มันต่างกันยังไงเนี่ย

โชคดีที่ก่อนกินคีโต เอ๋ เคยทำร้านขนม เค้ก เบเกอรี่ ทำตั้งแต่ซื้อวัตถุดิบ อบ แพ็คใส่ตู้ ขายในร้าน มาก่อน ช่วงแรกที่ลองจับลองทำขนมคีโต จึงเริ่มจากของที่มีอยู่กับตัวง่ายๆก่อน แน่นอนว่ามันคือ คุ้กกี้ เพราะใช้วัตถุดิบไม่มากกระบวนการไม่มาก แต่ด้วยความที่แป้งอัลมอนด์ไม่เหมือนแป้งทั่วไป มันมีความหนักและไม่อยู่ตัว ตีทิ้งตีขว้างไปหลายแบทเทอร์ กว่าจะลงตัว โชคดีที่สมัยก่อนการกินคีโตยังเคร่งมากๆ เพราะข้อมูลจากฝรั่งนั้นเคร่งมาก แรกเริ่มเดิมที คาร์บยังคือคาร์บ ไม่มีการหักไฟเบอร์ จากนั้นไม่นานถึงจะเริ่มมีการหักไฟเบอร์ออก ดร.เบิร์ก แรกๆนี่ไม่หักไฟเบอร์เลยนะ เพิ่งมาหักช่วงหลัง นั่นเลยทำให้การชิมขนมไปหลายรอบนั้น ยังไม่รบกวนคีโตมากนัก

เมื่อทุกอย่างลงตัว ทดสอบหลายแนวทั้งผสมถั่ว ทั้งผสมชอคชิพ 3 เม็ดจนเป็นเอกลักษณ์ จนคนถามว่าทำไมต้อง 3 เม็ด แต่ก็ทำตามๆกันมา 3 เม็ด หลังจากปล่อยสูตรออกไป พร้อมๆกับส่งตัวคุ้กกี้ให้ผู้โชคดี(หรือโชคร้ายนะ)ให้ได้ชิมกันถ้วนหน้า

อย่างที่บอกว่ามันยังไม่ใช่ยุคของการค้า พอเป็นสูตรที่ใครๆก็เอาไปทำกัน แล้วทำได้โอเค มันก็เลยกลายเป็น คุ้กกี้ในตำนาน โดยปริยาย ด้วยความที่ว่ามันเอาไปลองทำแล้วผลออกมาไม่แย่ ทำง่าย รสชาติทานได้ อาจจะไม่เลิศเลอ ลองฌอมดูตูร์กูติเยร์ อะไรมากมาย แต่แน่หล่ะเพราะก่อนแจกจ่ายได้ผ่านการลองผิดมาแล้วมากมาย คนทำตามสูตรก็เลยเหลือแค่ลองถูก นำไปทำทานเลยหรือนำไปพัฒนาต่อยอดได้สบายๆ

ตอนนั้นชื่อก็เลยถูกสลักหลังตามด้วยคำว่า คุ้กกี้ในตำนาน อยู่เสมอๆอย่างหนีไม่พ้น เหมือนสมัยนี้ที่เอะอะก็แปะนามสกุล เดอะวอยซ์บ้าง บีเอ็นเคบ้าง คือมันก็เป็นแค่ชื่อห้อยท้ายเพื่อ refer ถึงนั่นแหละ คล้ายๆหนัง GDH เรื่อง เอ๋ไหน-ไฟแรวงเวอร์ (เหรอ ??? ) เผลอๆแอบไปร้องเพลงใส่หน้ากากคุ้กกี้ซะงั้น (เพ้อแล้ว)

อย่างที่บอกตอนแรกแหละ พอลงตัวเรื่องวิธีการกินคีโต แปลงานวิจัย แปลบทความ แปลบทสนทนา เนื้อหาต่างๆมาแลกเปลี่ยนกัน เวลาว่างก็ทดลองทำอาหาร ขนม หลายอย่างมากมาย เท่าที่จะนึกได้ ไม่ว่าจะเป็น ขนมจีบคีโต(ใช้สาหร่ายแทนแป้ง) คุ้กกี้เคลือบชอคโกแลต เบเกิ้ล ไอติมกะทิ ไข่พะโล้ ช็อกโกแลตแท่งผสมอัลมอนด์ น้ำพริกเบค่อน ไข่เจียวซูเฟล่คีโต (แรงบันดาลใจจากการ์ตูนโซมะ) ทั้งหมดนี้คาบเกี่ยวกันในช่วง 2017 เกือบจะทั้งหมด เป็นปีแห่งการระเบิดเมนูคีโตออกมามากมาย ของเอ๋แท้ๆ สนุกสนาน สำราญใจกันถ้วนหน้า ถ้าไม่ว่างจริงไม่ออกมาขนาดนี้นะนี่

หอมปากหอมคอกับ ep.2 ไหน นี่ยังไม่เข้าเค้าของชีสเค้กเลย เอาเป็นว่าตอนต่อไป ถึงคิวชีสเค้กแล้วล่ะ ** ประมวลภาพอดีตอันยาวนาน

@ a012dc82:6458a70d

Table Of Content

• Content

• Conclusion

• FAQ

• You May Also Like

• External Links

Live Crypto News Today Updates December and Latest News: (5 December 2022) On Monday morning, the international market for digital assets had positive index readings. The total value of the cryptocurrency market has increased by almost 2%. The total number of trades conducted in a single trading day rose by 14% to reach $35 billion.

As the cryptocurrency market begins to show signs of recovery, prices for Bitcoin and Ethereum have increased by 2% and 3%, respectively.

Dogecoin Price Surges Due to "Twitter Coin" Rumor?

The price of Dogecoin (DOGE), the world's biggest joke cryptocurrency, recently skyrocketed amid persistent claims that Twitter is planning to create its own cryptocurrency called "Twitter Coin."

Twitter's Elon Musk to Launch "Twitter Coin"?

It has been rumored that Twitter is working on monetization options as well as a "Twitter Coin." Researchers Nima Owji and Jane Manchun Wong found the "Coins" option buried under the "Tips" settings on Twitter. They shared their discovery. Elon Musk has already dropped hints that Twitter will start accepting payments in Dogecoin (DOGE).

Litecoin's (LTC) Price Jumps Over 8%

Recently, Litecoin has been quite active, as seen by the price of LTC, which has increased by more than 8.5% in the last twenty-four hours. At the time of this publication, the price of LTC on the market was $83.14, and its market cap was $5.9 billion.

On the technical chart, Litecoin has shown a clear accumulation breakthrough, which may further lead to an increase in the price of LTC to $90 or even higher.

Caroline, the former CEO of Alameda, was spotted in New York.

Photos of Caroline Ellison, the former chief executive officer of Alameda, started making the rounds on Twitter on December 4th. Some Twitter users claim to have seen Caroline around 8:15 a.m. at Ground Support Coffee, which is located on West Broad in Manhattan's SoHo neighborhood.

Gopher, a Golden Doodle puppy that is reported to belong to the executives of FTX and Alameda, also seems to have been seen with Caroline, which lends some credence to the possibility of sightings and provides more evidence. Following a query on Twitter, Austin Capital reported that a barista behind the counter had identified the customer as Caroline.

Dogecoin (DOGE) is a valuable asset, claims ChatGPT.

The open AI bot ChatGPT has been making waves throughout the internet since the weekend just passed. Everyone is in awe of ChatGPT's writing talents because of the sort of writing skills they have displayed.

The Open AI platform has heaped praise on Dogecoin, emphasizing that DOGE should be "reckoned with as a force," as the website puts it.

Bitcoin's value rises by 2%.

Over the course of the previous 24 hours, the price of a bitcoin has increased by 2%. At the time of this writing, the average price of a Bitcoin transaction was $17,305. Its trade volume for a single day increased by 24 percent, reaching $20 billion. Bitcoin now has a market value of more than $332.6 billion.

Recovery of Cryptographic Registers

On Monday morning, the international market for digital assets had positive index readings. The total value of the cryptocurrency market has increased by almost 2%.

The total number of trades conducted in a single trading day rose by 14% to reach $35 billion.

Conclusion

It remains to be seen whether Musk's Twitter will make cryptocurrency a priority, but at least one of the big supporters behind the transaction is pushing for it. Binance, a cryptocurrency exchange, contributed $500 million to the $44 billion acquisition with the aim of assisting Twitter in its transition to Web3. The CEO of Binance, Changpeng "CZ" Zhao, has been actively promoting his Binance Pay platform as a potential payment method for Twitter.

FAQ

What new features is Elon rolling out on Twitter? After taking over Twitter, Elon Musk's first official product change was to start charging $8 per month for "blue check marks," which are the verification badges that Twitter currently gives to public figures such as journalists, politicians, and celebrities. Musk confirmed this change shortly after he took control of Twitter.

Is there cryptocurrency available on Twitter? Twitter has not made any public announcements on the development of a cryptocurrency wallet product; however, the social media firm did release a tipping tool late in 2017 that enables users to transfer bitcoin to content producers through the site. Twitter expanded its tips functionality to include ethereum in February. Elon Musk will serve as your host for the duration of the monologue on May 8, 2021.

What exactly is the ELC token? ELON, also known as Dogelon Mars, is a token project with a focus on doges. ELON, also known as Dogelon Mars, is a doge-centered token project with the objective of emulating the achievements of Dogecoin (DOGE) while making a reference to Elon Musk's plan to populate Mars. The original investors in Dogelon Mars placed a liquidity lock on fifty percent of all ELON funds in a pool managed by Uniswap.

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@ fbe736db:187bb0d5

By Bitcoin Actuary & Tyler Parks; written in October 2022.

https://podcasts.apple.com/us/podcast/a-sceptics-guide-to-crypto-the-church-of-bitcoin/id1169101860

transcript: https://www.ft.com/content/4573b225-8eaf-4de1-97e9-f9b71cdc50bd

We present here an examination of the FT’s Tech Tonic podcast series “A Sceptic’s guide to Crypto”; in particular the fourth episode - “The church of Bitcoin”. We include a transcript of this episode below with our own commentary added, in order to best pick up on the points raised.

Jemima Kelly (JK) — Hi. I’m Jemima Kelly, your guide on this journey through the fantastical kingdom of crypto land. And I have a question for you — “What’s the difference between believing in crypto and joining a cult?”

[Snippets from later in the episode]

“Crypto seems to me like the monetary equivalent of the heaven’s gate space craft that was supposed to transport all those followers to the kingdom of heaven.

“When people engage in crypto, it is not the way they engage in any other hobby. The beliefs in crypto are quite extreme and very absurd”

[Nic Carter] — “At this point it’s bordering on denying reality.”

JK — This is techtonic from the Financial Times, and in this series, I’ve been asking why people believe in a future for cryptocurrencies, and the blockchain. For many people, crypto is simply all about making money; getting rich quick by betting on the crypto markets, or shilling the tokens they say will power their latest blockchain flavored invention.

But.. it didn’t quite start that way, and for many people crypto, and in particular Bitcoin is about much more than that.

Here we are — the word Bitcoin! It’s only taken 10 total mentions of Crypto and Blockchain in this episode so far to get us there. If this appears an over zealous observation, please note that we have travelled through episodes on Luna / the recent market crash, NFTs and Web3 in this series so far, before any real consideration of Bitcoin.

This is the one of the main attack vectors of the likes of Jemima Kelly and Stephen Diehl in their content — “Crypto, Crypto, Crypto.” The problem is they conflate “Crypto / Blockchain” with Bitcoin proper, when comparing them is at best misguided and at worst predatory. In doing so they infer no difference between Bitcoin and any other altcoin and deny that Bitcoin has any meaningful scarcity. This view (and a recent FT article on it also written by Jemima Kelly) is refuted well by Steven Livera in the link below.

https://bitcoinmagazine.com/culture/bitcoin-separate-from-crypto

Were we to analyze the whole series, we’d actually have more in common with Jemima Kelly and team than might first appear. Some examples -

• We’re in agreement that gambling and speculation can be a problem.
• We’re pretty sceptical of efforts spearheaded by companies like a16z to decentralise the web; i.e. of “Web3”
• NFTs are of questionable value

You see Bitcoin is an ideology; a quasi religion that cast the development of this cryptocurrency as a history changing event. You might remember Bitcoin super gambler Michael Saylor in episode 1, telling us that Bitcoin is an instrument of economic empowerment for the world, a tool for freedom and truth and justice.

Some audio clips of “super gambler” Michael Saylor were played in Episode 1, lumped in with the recent story of Terra Luna and the “Crypto crash”. Around two and a half minutes of snippets of Saylor being interviewed were included in a rather slanted presentation of his “blind devotion to Bitcoin”. This is called the sceptic’s guide, after all! However, anyone who has sought out a more detailed interview with Michael Saylor (there are plenty out there) would know there’s slightly more to it than that. He repeatedly demonstrates an ability to derive Bitcoin’s value proposition from first principles.

That’s the thing about Bitcoin. It’s a belief system, with its own commandments and taboos.

So, what do Bitcoin evangelists believe in? And why do they believe it? This is episode 4 — The church of Bitcoin.

To understand just how big a part mythology, and almost religious fervour, play in Bitcoin, let me start by telling you its origin story. It starts on the 31st October 2008. Halloween. The world is in the grips of a crippling economic crisis. People are rethinking the whole economic and financial system, and the greedy bankers are the lowest of the low.

This flippant comment about the greedy bankers being the lowest of the low is just about the closest we get to an acknowledgement of there being a wider macro economic environment in the entire series, save for comments from Nic Carter later. Which is odd given how many bitcoiners take a keen interest in macroeconomics and Bitcoin’s place in the wider world.

And then, someone calling themselves Satoshi Nakamoto sends out an email.

[Satoshi email narrated] “I’ve been working on a new electronic cash system that’s fully peer to peer, with no trusted third party”

JK — The email lands with subscribers of the cryptography mailing list, an email group made up of a few dozen researchers and enthusiasts who are interested in some of the geekier aspects of the world of cryptography. The message was brief and matter of fact — a short description and link to a pdf file. The file outlined an electronic cash system that Satoshi Nakamoto called.. Bitcoin

[voiceover] “A purely peer to peer version of electronic cash which would allow online payments to be sent directly from one party to another, without the burdens of going through a financial institution”

This wasn’t the first attempt at creating a decentralised digital currency, and initially, the idea didn’t get much traction. But over the next two years, Satoshi Nakamoto kept developing Bitcoin, releasing updates to the protocol, replying to emails on the mailing list and posting on message boards. Usually, there were questions about bugs or potential problems with how the system worked, fixes to the coding, that kind of thing. Occasionally there would be discussions over the value of creating Bitcoin in the first place.

[voiceover] “You will not find a solution to political problems in cryptography”

“Yes, but we can win a major battle in the arms race and gain a new territory of freedom for several years.”

“The real trick will get people to actually value the bitcoins so that they become currency”

“I would be surprised if ten years from now we’re not using electronic currency in some way. If enough people think the same way, that becomes a self fulfilling prophecy.”

But later, as Bitcoin began to catch on, Satoshi had to worry about how to present the concept of Bitcoin to the wider world.

“Sorry to be a wet blanket, writing a description for this thing for general audiences is bloody hard. There’s nothing to relate it to.”

Satoshi even had to worry about marketing issues, like how to make Bitcoin look like a legitimate currency

“How does everyone feel about the B symbol with the two lines through the outside. Can we live with that as our logo?”

As opposed to the Satoshi Nakamoto quotes which are referenced here, we think the following is more noteworthy -

“The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve.”

Throughout all of this, the real identity of Satoshi Nakamoto remained a total mystery. Noone knew who it was. Was it a pseudonym? Was Satoshi even a man, as the name suggested? Or could it be a woman, maybe a group of people. And then in December 2010, barely two years after that first email, Satoshi Nakamoto stopped posting. The inventor of Bitcoin vanished into thin air. What makes the story even more intriguing is that by the time Satoshi disappeared, this mysterious inventor had amassed a fortune in Bitcoin. And to this day not a single one of those Bitcoins has ever been spent.

Nic Carter — it’s like a Jesus style myth, where Satoshi sacrificed himself or herself by leaving the project and spurning the immense wealth that Sathoshi had accumulated, right — about a million coins, so what is that — 20 billion dollars.

JK — Nic Carter there. He’s a prominent crypto investor. He says the story of Satoshi disappearing and not cashing in his wealth has taken on an almost religious aura that makes Bitcoin not just another cryptocurrency, but special. A sort of chosen one.

NC — There’s a notion of like, and very explicitly within the Bitcoin community — of Satoshi literally sacrificing himself for our sins, basically, creating this new independent system that’s free of the sin of fiat, and creating a new pure system that you’re welcome to join. There’s also, if you want to go further back you could say it’s a Prometheum story, right, where Satoshi did this daring act, stole fire from the gods, stole monetary policy from the Fed, and then was punished for it for all eternity. In this case Satoshi’s punishment was not being able to benefit from all the Bitcoins they created, for whatever reason, so the mythology there is very significant.

We don’t think this notion is particularly prominent at all, but there could be some out there buying into Bitcoin because of this narrative. Let’s bring things down to earth though and remember that Bitcoin is open source code, not some mystical fable.

If newcomers want to know why most Bitcoiners buy and hold Bitcoin, please start with the Bullish case for Bitcoin article by Vijay Boyapati

https://vijayboyapati.medium.com/the-bullish-case-for-bitcoin-6ecc8bdecc1

or perhaps the Bitcoin Standard by Safedean Ammous.

https://www.amazon.com/Bitcoin-Standard-Decentralized-Alternative-Central/dp/1119473861/

In short, Bitcoin has superior properties as a form of money. Unfortunately the merits of its monetary properties (such as being portable, fungible, divisible, scarce, recognisable, censor resistant) are not considered in this series.

JK — We’ll come back to Nic a little later, but first, let me introduce you to another person, who at one point truly bought into that whole Bitcoin ideology -

Aviv Milner — When I was at school studying Math, I had already an interest in Economics, I had an interest in Philosophy, and Political Science. At the time, Bitcoin was kind of having its second or third big public explosion.

It’s not mentioned here that in spite of its volatility, each of these “public explosions” has seen the price of bitcoin reach a higher high than the last. It’s almost as if long term adoption is increasing.

JK — Several years after Satoshis original email, Aviv Milner was a student living in Vancouver in Canada.

AM — I was very prime for that pitch, because it was a pitch that essentially said “we can use computer science and math to solve economic, political & philosophical problems. And we can solve almost all the problems. And that was really exciting to me.

JK — Aviv discovered an online community of Bitcoin enthusiasts who believed that Bitcoin had the power to change the world. As well as getting stuck into the tech behind Bitcoin, Aviv started delving into its ideology, too. He came across a document written in 1993 by a computer programmer called Eric Hughes. The document was called the cypherpunk manifesto.

AM — cypherpunk is this kind of rebellious, anti-government philosophy. It starts by saying that privacy is necessary for an open society in the electronic age. It goes on about why privacy is so important, and we must resist government oppression and tyranny, and why money must also be private. That’s the root of — even Satoshi Nakamoto who invented Bitcoin — was this tool, to regain personal liberty and freedom, to transact as one sees fit. To transact privately and anonymously. To send money anywhere in the world. And the idea that decentralisation is key, such that the system itself could not be corrupted and could not censor any one person.

It’s commendable that FT took the time to illustrate bitcoin’s origin story including the cypherpunk manifesto, even if they’re hesitant to embrace it. It’s worth reading.

Aviv started chatting to other Bitcoiners on the online forum Reddit. He went to Bitcoin conferences, and he started buying Bitcoin, as he genuinely believed it could be the future of currency.

It’s worth noting the word currency only appears once in the Bitcoin white paper — and only then as a reference to existing physical currency. By definition Bitcoin only becomes a currency when in general use or accepted as such in particular countries. Accusations that Bitcoin has somehow failed once and for all as a currency (due to its volatility or lack of use in payments) are wide of the mark though (see Vijay Boyapati article as linked earlier).

AM — I was pushing people to spend their Bitcoin, pushing people to learn about Bitcoin, it’s super reliable, it’s awesome, the value only goes up, you know this is going to be great for commerce.

The reference to value only going up is a red flag here.

JK — For Aviv, mass adoption seemed, well entirely sensible. So much so that he tried to get local businesses in Vancouver to start accepting local payments in Bitcoin.

AM — at the time it seemed obvious, because small businesses pay credit card fees and point of sale fees, so you can build an app for them that will accept Bitcoin, so surely users will love it and the stores will love it. So we found a few stores that were willing to do this, to have this Bitcoin point of sale app.

JK — But Bitcoin started to become a victim of its own success. In 2017, after a huge run up in prices, Bitcoin’s network started to get congested. The cost of making payments was exploding, and transactions that were supposed to take 10 minutes were sometimes taking several days to complete.

AM — And the result was that nobody used it. Nobody wanted to actually go in the store, like an average grocery store, and pay with Bitcoin, and I remember laughing really hard, thinking like, none of this was as we were told, like it was a faulty product that the user didn’t want and the merchant didn’t want. The concept failed on all levels.

“None of this was as told” - by whom? As Saifedean Ammous has commented, using Bitcoin on chain for such payments is akin to flying Concorde down the street to pick up a pint of milk. Aviv Milner is talking about 2017, though, and there were many “big blocker” bitcoiners who saw a future for Bitcoin in this manner. For those who are curious to read more about the battle between the big and small blockers (the big blockers believing Bitcoin’s block size needed to keep expanding to cater for more and more transactions) please read the excellent “The Blocksize War” by Jonathan Bier.

https://www.amazon.com/Blocksize-War-controls-Bitcoins-protocol/dp/B08YQMC2WM/

In addition, to consider why it’s a little outlandish to expect Bitcoin to conduct millions of transactions a day on chain we’d recommend reading Nik Bhatia’s book, layered money —

https://www.amazon.com/Layered-Money-Dollars-Bitcoin-Currencies/dp/B091D3KR8G/

JK — which is why today, Aviv is no longer a Bitcoin believer. These days, he’s gone full on Bitcoin skeptic, and that total 180 in the world of Bitcoin just doesn’t happen. Aviv is the only person I’ve ever come across to be so invested in Bitcoin, both financially and emotionally, and then just to have abandoned the whole thing.

AM — 13 years into this experiment, so far, if I’m being honest, the use case we have is we made Las Vegas virtually, and children can now play in it. To me, that’s kind of the biggest use case that I see — money laundering is one thing, tax evasion is another, but I can’t really see examples where some person, any person, says “man, thank god for Blockchain, it’s really made my day better, I can really solve these problems” — there’s not a lot of problems unless you want to speculate.

For those who don’t see Bitcoin as scarce, it is an obvious criticism that it solves no real problems. For those who do, it solves one of the greatest problems mankind has faced — how to store and transmit the fruits of your labour through time and space.

JK — Aviv was discouraged by Bitcoin’s failures, but there are still many Bitcoin believers out there who aren’t. It doesn’t matter how many times Bitcoin crashes, or fails to find a use, they have already decided that whatever the question, Satoshi Nakamoto’s great invention, Bitcoin, is the answer.

The use for most users with Bitcoin is as a superior form of money. This is why many hold it and don’t just speculate on it.

The fact that the podcast doesn’t even once reference the lightning network, having pointed out Bitcoin’s limitations for on chain payments, is a good example of the ignorance / intellectual dishonesty (choose one as you wish) generally on display.

https://www.clevelandfed.org/en/newsroom-and-events/publications/working-papers/2022-working-papers/wp-2219-the-lightning-network-turning-bitcoin-into-money.aspx

It’s worth noting of course that despite this Bitcoin doesn’t depend on the success of the lightning network to succeed. There may be other layer 2 or layer 3 options that succeed in the long run. That’s the beauty of competition and open source networks.

Siddharth Venkataramakrishnan — So Bitcoiners basically believe that Bitcoin is the future of money

JK — Siddharth Venkataramakrishnan writes about banking and Fintech for the FT.

SV — All other currencies — whether you are looking at fiat currencies, or other crypto currencies, like Ether, or Dogecoin, are all either at best scams, or at worst actually detrimental — they are part of a collapsing monetary system which has been collapsing for years, since the end of the gold standard some might say. Traditional currencies or fiat currencies are going to go into a death spiral of inflation, and that’s going to lead to their replacement by Bitcoin. At some point it’s going to be just the single currency for global commerce, trade, & payments.

Note how this is all presented as a blind belief, rather than that it could be based on anything happening in the wider world right now.

JK — So why do Bitcoiners think it would be a good thing to have Bitcoin become the future of money?

SV — So you have Bitcon emerging after the cyberpunk ideology of the late 80s, the 90s. This movement over censorship, against government controls over digital culture, sort of broadly anarchic, libertarian ideology, and there’s the idea that Bitcoin is censorship resistant, that it’s a form of currency which is not handed out by the government, that can be used to purchase things which governments don’t always want you to. And obviously, the argument which is increasingly made is around authoritarian states where we have seen crypto sometimes used to circumnavigate controls put down by governments.

JK — So belief in Bitcoin has two basic elements to it. The first is that the global financial system is broken and Bitcoin is the only thing that can fix it. The second is even more fundamental than that — governments shouldn’t be in control of money and we need an alternative that’s not controlled by any one entity.

So are these beliefs, whether you agree with them or not, simply part of a coherent and rational political ideology, or, is there more to it than that. Is Bitcoin a cult?

SV — So it’s complicated because it definitely does have cultic properties. You don’t have a single leader in crypto any more because Satoshi decided to step out of the limelight, what you have instead, and this is quite similar to Qanon today, is you have a lot of high priests, or priests of varying values — The influencers who cooperate with each other sometimes, sometimes fight with each other, and it’s all about at the end of the day driving a message that adoptions coming — believe in my personal version of the gospel, subscribe to my channel etc. There is a morality to it as well, I think there is a lot of that idea that if you are investing in crypto, or Bitcoin, then you are doing something that is actually morally good. And you are rewarded for making the right choice, you know, with the whole idea of mining implying hard work out in a mine, rather than letting a computer do it for you. I think there’s an assumption that what you’re doing is a good deed. You know money is good, therefore being rich makes me a good person, therefore if you are involved in Bitcoin or crypto, if you are involved in Bitcoin adoption you are deserving of money.

Siddharth Venkataramakrishnan comes closest to providing a steel man argument but loses footing with comparisons to the supernatural. We’d take issue with the word influencer used in reference to Bitcoin — no one is on the payroll. There is some truth to the morality point made here, but crucially even if there can be a moral element to bitcoin for some, chiefly it’s known as money for enemies. Nothing altruistic need necessarily come into it, and first and foremost most bitcoiners are here to preserve & enhance wealth over the long term. He mischaracterizes proof-of-work as moral and virtuous rather than its role as a network security mechanism.

I think that plays into the idea of being rugged pioneers, almost, you know being on the frontiers of money on the digital frontiers of money.

JK — The precise definition of a cult might be hard to pin down, but, for those who study this the parallels between Bitcoin and recognised religious cults, are striking.

Amanda Montell — You can see how this is absolutely something that is isolating people from their systems of support, that’s imbuing people with a false sense of elitism, making people feel like the solutions to all of their problems and enlightenment can be found, and if that’s not a new religious movement, I don’t know what is.

JK — Amanda Montell is the author of a book called cultish, the language of fanaticism. She knows first hand about cults. Amanda’s father was a member of the church of synanon, in the 1970s.

Media clip — Syanon claims it has been the victim of bad publicity, losing more than one hundred thousand dollars in grants and contracts. Pure addicts are being sent there, parents are disowning their children who live there. Some are filing lawsuits, charging brainwashing and torture. And a grand jury is investigating charges of child abuse.

JK — Basically, the organisation was a drug rehab program turned cult

Media clip — it was founded 19 years ago by a man named Chuck Dederich

Chuck — I’m big brother, I’m big daddy, I’m.. all kinds of things

JK — followers shaved their heads, wore overalls, and underwent brainwashing group therapy live rituals.

AM — In a really really destructive group like Jonestown or Heaven’s Gate, or Scientology, you’ll hear a tonne of us vs them terminology, really loaded emotionally charged buzzwords and euphemisms, that are there to imbue insiders with this sense of superiority, with this transcendent purpose, that, just by showing up, you are better than everyone else, you’re tapped into an enlightened knowledge — the solutions to the world’s knowledge are laid bare before you, and as long as you align with this group, with this leader, all of these solutions can be yours.

JK — And Bitcoin follows that us vs them terminology as well, even if that is not dictated by any one leader or person.

AM — It’s like crowdsourced a little bit, they are really there to divide people into an us vs them, special, enlightened crypto people on the inside who understand this language and this unenlightened sheeple on the outside who don’t.

JK — Amanda says that in the crypto world, that language is particularly evident in the sheer number of acronyms and abbreviations believers use.

AM — ..which sort of makes the language feel all the more special, also all the more inscrutable.

JK — Anyone who has been on a Bitcoin message board or who follows Bitcoin twitter, might have heard of some of these

Narrator — what’s up you guys, so it’s Matt here, so I talked about BTD in a number of videos, right, but a lot of people don’t -

JK — BTD — Buy the dip

AM — It generally displays a bullish attitude towards crypto and NFTs that’s commonly used in the context of good news

JK — WAGMI — We’re all going to make it. Or NGMI — Never going to make it.

Media Clip — HODL, HODL, Baby, it’s like a football, you’re holding a football, you’ve got a big bag of cash

JK — HODL — that one is actually a misspelling, but a lot of people now treat it as an acronym for “Hold on for dear life”. And, if you do, your crypto token of choice will “Go to da moon”.

Media Clip — And I want to follow up today with my next list of 5 crypto currency coins that I think may take us to the moon

We’ve very much verged into wider Crypto here, and the world of trading.

JK — And then there’s the co-opting of the term “FUD”

Media Clip — FUD is an acronym for “Fear, Uncertainty, and Doubt”. [Various Clips repeating the phrase “Fear, Uncertainty and Doubt]

JK — which is used any time anyone tries to challenge the ideology of crypto believers.

Media Clip — a crash is normal. Seeing graphs shoot straight down like this is normal.

JK — It’s a way of dismissing criticism

Media Clip — Fear, Uncertainty and Doubt is a menace that threatens to reach into your pocket and steal your hard earned money.

JK — Amanda says this is a perfect example of what linguists like her call “A thought terminating cliche”

AM — This is a classic cult language technique, and it describes a sort of stock expression which is easily memorised, easily repeated, and aimed at putting down independent thinking and questioning, so dissent and pushback is obviously the number 1 enemy to any cultish group. You don’t want any wrinkles in your ideology to be pointed out. So whenever anyone expresses any sort of questioning, you’re going need to have one of these zany stock expressions to shoot them down, and alleviate the cognitive dissonance that they are feeling in that moment.

With Bitcoin the term FUD does of course get used. We’d argue it’s in part a defense mechanism for having argued in good faith and just having those points ignored when the next attack comes, time and again. There are plenty of far deeper arguments, if you just care to look (e.g. link below).

https://en.bitcoin.it/myths

JK — Amanda saw this in action when her Dad was a member of Synanon.

AM — The group where my Dad spent his teenage years, there was this thought terminating cliche which was “Act as if”. Whenever you feel yourself doubting one of the leaders protocols, just “Act as if” you believe in his wisdom, and eventually you will. I’ve heard thought terminating cliches show up in Qanon, in the form of phrases such as “Trust the plan”, or “I did my research”, or “Do your research”, or “Don’t let yourself be ruled by fear”.

In new age groups, a thought terminating cliche could sound like dismissing a valid fear or anxiety as a limiting belief, and there are of course thought terminating cliches that are used in crypto — “Don’t listen to the rumours, there are just spread by FUD”, and that’s thrown in the faces of anyone who proposes any kind of criticism towards a project in this space — they are a FUD, and again you can make a scientology comparison. Anyone in scientology who expresses any kind of doubt is dismissed as a suppressive, a SP — that stands for Suppressive person, and so there are parallels to be drawn there for sure.

JK — If Crypto, and Bitcoin in particular can be compared to a cult, like scientology, you might think of Nic Carter, who we heard from at the top of the episode, as the Bitcoin equivalent of the supressive person, an apostate bitcoiner.

NC — it certainly is a secular religion, I mean there’s a whole doctrine of salvation, there’s absolution, there’s even eschatology, I guess, the day of judgement concept, where all the fiats are going to disappear and everything will be subsumed into Bitcoin.

JK — Nic runs an investment fund, and for years, he’s been an advocate for Bitcoin as an alternative to the existing financial system. But recently, the rest of the hardcore Bitcoin community discovered something about Nic that to them was unforgivable. Nic wasn’t just worshipping at the altar of Bitcoin. He was worshipping at the altar of other crypto gods, too.

NC — and there is a faction within Bitcoin that thinks that you have to pick one side, basically that you have to believe exclusively in Bitcoin, that all other crypto assets are competing for attention with Bitcoin, that it’s a zero sum gain, so it’s immoral that a creator advocate to build on top of any other crypto asset. The whole debate is in a moral context.

JK — This purist fact that Nic refers to is know as “Bitcoin maximalism” and for Bitcoin maximalists, the cryptocurrency you invest in is a moral question, because for them Bitcoin isn’t just the best cryptocurrency, it’s the only one that’s morally good, and everything else — central bank currencies like the dollar, and every other one of the 20,000 plus cryptocurrencies out there is morally.. Bad.

NC — I was performing a deep moral sin, according to these people, so I guess a lot of the bitcoiners got upset because they realised that a high profile bitcoiner wasn’t, you know, a bitcoin puritan, or whatever.

We won’t get into Nic Carter’s deep moral sins against Bitcoin; we have no doubt that with appearances on podcasts like this, his star will continue to rise! However it is clear that there are bitcoiners out there who will defend Bitcoin to the death, and this is a feature, not a bug. As Michael Saylor has pointed out -

“If you really want a crypto to be successful over 100 years, the technology is only a part of it, right? It’s the ideology paired with the technology. And you’re gonna have to have an ideology that is so pure and so straightforward that people will fight to the death to defend the ideology. And that’s why I’m probably not gonna sacrifice my life for the 13th iteration on smart contracts. It’s not that important. On the other hand, if you tell me that we’re about to suck all of the economic energy out of the civilization and plunge ourselves into the Dark Ages, then I think I’ll fight for it. That’s worth fighting for.”

Michael Saylor; What is Money show episode 8

https://whatismoneypodcast.com/

JK — today, Nic no longer worships in the church of bitcoin.

NC — Now I’m a crypto apostate, right, ethical non crypto monogamy, and so I’m out. You know, I’m still a bitcoiner, obviously, they can’t really kick me out of Bitcoin — that’s not possible. But I’m certainly out of the core circle of hardcore bitcoiners which is kind of ok with me. As I view their views as really out of step with reality.

JK — but Nic does still believe in Bitcoin. And so this is where, in some ways, he hasn’t truly left the cult, he’s just left the most zealot part of it. Because Nic is still drinking the Bitcoin kool aid to some extent. He still thinks of Bitcoin as a viable solution to the broken financial system.

It’s worth considering another recent quote from Nic

“Today, the only ‘base layer’ asset that I like from an investment perspective is Bitcoin, because I think its monetary and governance qualities are supreme, but that doesn’t mean I haven’t been interested in other trends in the blockchain space.” (https://medium.com/@nic__carter/setting-the-record-straight-b4e1b415e7d9)

So is Nic Carter in this cult or not? Has he sold any Bitcoin? We don’t know, but he hasn’t announced it — it might help this analogy, mightn’t it. Has he removed any of his Bitcoin articles? No. So we’re left with Nic leaving the cult, but not really.

Here’s what we think. We think when Satoshi said “writing a description for this thing for general audiences is bloody hard — there’s nothing to relate it to”, that extends to podcast episodes trying to lay a glove on Bitcoin for being a cult in the manner of Qanon or Synanon. Reality check — Bitcoin is borderless, permissionless, digital, open source.. It is definitely a cult of sorts, but the active comparisons made here fall pretty flat.

NC — I do think that the fiat system is degenerate, and will eventually collapse. You think crypto will eventually collapse, I think currencies will eventually collapse — not all at the same time, and I think the dollar will be the last, and so I am searching for an alternative. To me Bitcoin best instantiates these values that I’m looking for, but it could be something else. If somehow we had reform, and we were able to create or engender a fiat system that didn’t lead to rampant asset price inflation, was relatively stable, didn’t cause financial crises, then I would probably reconsider, but I don’t have any faith in governments to do that.

JK — So as we’ve heard throughout this episode, there is something incredibly powerful about Bitcoin that really draws people in, and I do believe that some bitcoiners are really in for reasons other than making money. Even though Bitcoin has failed time and again to prove itself as a valid form of money, it has this mysterious and compelling mythology that makes people still believe that one day it will prove itself as the saviour of the economic system.

The idea here that Bitcoin has failed as a valid form of money is an unsubstantiated claim. Bitcoin still operates exactly as originally intended and laid out in its white paper. For an interesting read here we’d recommend Allen Farrington’s article “Wittgenstein’s Money” (now also forms a chapter in the book “Bitcoin is Venice”), in which he asks — “What would it seem like if it did seem like a global, digital, sound, open source, programmable money was monetizing from absolute zero?”

https://allenfarrington.medium.com/wittgensteins-money-7cac8d0635cf

We echo Nic’s sentiment regarding currency inflation and financial crises. If you view Nic as a credible voice in the space, then his continued bitcoin advocacy would seem to undermine the whole premise of this episode. It also brings to mind Jeff Booth, author of “The Price of Tomorrow,” who argues you can’t fix the system from inside the system.

https://www.amazon.co.uk/Price-Tomorrow-Deflation-Abundant-Future/dp/1999257405/

And in some ways that is quite understandable, even if it strikes me as quite naive. Who doesn’t want to be told that there really is an answer to all of our greatest problems. And in a world where technology has already changed pretty much every part of our lives in ways we couldn’t have ever predicted, why shouldn’t this technology fundamentally change money, too.

Good question — you’re so close!

Is it any wonder that so many people want to be part of something so much greater than them, part of a community that gives them a sense of identity and belonging. Amanda Montell says that’s why cults keep coming back

AM — Cults has also become one of those words that can kind of mean anything, depending on the context, you can use it to describe something as destructive as QAnon and Scientology, but you can also use it to describe a really popular beloved makeup brand, or wellness product, and I think that says a lot about how cultish our culture has become. As we increasingly move away from and mistrust these larger institutions, that are supposed to provide us with support and community, like the government, the healthcare system, the church, and so we start looking for these things in different places, in alternative places — feeling like you are part of something bigger than yourself is profoundly human pursuit.

It is certainly true that mistrust in large institutions has been growing for many decades. For a non Bitcoin related consideration of this, Adam Curtis’ documentary Hypernormalisation (2016) is well worth watching https://en.wikipedia.org/wiki/HyperNormalisation

It is little wonder that many out there identify with Bitcoin, where one of the central mottos is “Don’t trust, verify”, the opposite of a thought-terminating cliche.

JK — She says that cult behaviour isn’t intrinsically bad, it’s just about identifying which cults are harmful and which aren’t

AM — and that might look like, you know, a really passionate music fandom. It’s really not about avoiding cultishness at all costs, it’s about being aware of some of those signs that this cultish group is more abusive than another.

JK — and the problem with Bitcoin is that some aspects of it do sound alarmingly like the bad version of a cult. Back to the former Bitcoiner Aviv Milner

Aviv Milner — you might ask what’s the big deal with people identifying as bitcoiners. The problem there is down to what you’re accepting, and how that affects your life more broadly. As an example, people who believe in flat earth often have a very also like culty like behaviour where they talk to people, they find groups, they do a lot of experiments, you know, but it’s surprisingly harmless, as when you believe in flat earth, it doesn’t really change your day to day. When you believe in Bitcoin, you do what the president of El Salvador did, or what a lot of middle class people do — just take all of your hard earned money and put it into a volatile asset which you don’t understand, and that has so many chaotic things that could happen…

Who’s to say those who are buying it, like the president of El Salvador, don’t understand it? They might actually understand it better than someone who thought the future of Bitcoin was on chain payments to merchants. The frontline of adoption can be messy–we won’t sugar coat it. But El Salvador is betting on the side of open source tech rather than economic colonialism. On this perhaps we can agree to disagree.

…And so essentially you’re gambling. And so the result is we have an unprecedented level of gamblers. People my age, even younger, people in their 20s. That is a huge huge problem. That is not just me disagreeing with someone else’s hobby, this is me upset about the financial destruction about a growing part of our population putting their money into these things, and in many cases losing almost everything.

[followed by lead in commentary to next Episode]

We’d agree with the Stephan Livera article below when it comes to trying to trade Bitcoin.

https://www.swanbitcoin.com/traders-lose-stackers-win/

It’s worth asking the question though of what leads so many to speculate on cryptocurrencies and meme stocks and the like. Arguably the rampant speculation we observe is a symptom of the sickness in modern economics that Bitcoin was designed to address. There is a wider issue with the financial environment we are in, which forces everyone to become their own mini hedge fund manager. In the current environment, old fashioned savers are crippled — one has to invest far out on the risk curve to maintain any form of purchasing power, not save. Bitcoin turns this on its head. Bitcoin is saving.

Consider the long term. Let’s compare buying and holding $1,000 worth of a 30 year treasury bond now until maturity, versus buying and holding the same value of Bitcoin for 30 years. We can calculate what the 30 year treasury would return by the year of 2052, but have no idea on the purchasing power of that amount. Bitcoin is zero yielding, but of fixed supply. We don’t know the purchasing power of Bitcoin in 2052 either. Perhaps it should be a question of relative position size. Bitcoin may be a speculation in itself, but it is uncorrelated and serves to hedge systemic risk.

The final episode in the series considered the evolving state of regulation in crypto. It ended with this zinger from Stephen Diehl -

“..Every single aspect of cryptocurrency is not new. The technology is new, it’s kind of a rubbish piece of technology, but the kind of speculative manias that are around these kind of assets are not new. And in many ways if you look at the south sea bubble, you look at the tulip mania, you look at the wildcat banking era, you can see exactly what’s going to happen. Attempts to build private money, attempts to financialise nothingness, always end in ruin. Because they’re just bad ideas. Crypto pretends to be the money of the future, but it’s actually the money of the past.”

We’re back to “crypto”, of course. The hatchet job is complete, and yet Bitcoin lives to fight another day. The series might serve as reassurance for no-coiners to be content doing nothing, but for others it may be worth digging a little deeper.

There are a number of areas that would have been interesting to consider as part of this series -

• Which cryptocurrencies constitute securities and which commodities
• The difference between proof of work and proof of stake networks
• The link between Bitcoin and energy, and the core proposition for Bitcoin miners.
• Lightning Network
• El Salvador
• The wider macroeconomic environment

The real issue is that in 5 episodes — around 2 and a half hours (albeit only around 30 minutes on Bitcoin) — the listener is left desperately short.

@ c73818cc:ccd5c890

🌿 Nell'ambito dell'industria della cannabis, la tecnologia blockchain di Bitcoin si intreccia inaspettatamente con la tutela ambientale. Un progetto pilota in Colorado implementa Bitcoin per tracciare la provenienza e l'autenticità dei prodotti a base di cannabis, promuovendo pratiche agricole sostenibili e contrastando la contraffazione.

🍀 Meccanismo operativo:

🌿 Ogni pianta di cannabis viene etichettata con un codice QR univoco collegato a un registro blockchain. I coltivatori registrano sulla blockchain informazioni relative alla coltivazione, quali l'utilizzo di fertilizzanti e pesticidi. I consumatori, scansionando il codice QR, accedono a un registro trasparente sulla storia della pianta, dalla semina al raccolto.

🍀 Benefici tangibili:

🌿 Promozione della sostenibilità: Incentivando pratiche agricole ecocompatibili e riducendo l'impiego di prodotti chimici dannosi. 🌿 Lotta alla contraffazione: Garantendo l'autenticità dei prodotti a base di cannabis e tutelando i consumatori da prodotti di scarsa qualità o adulterati. 🌿 Aumento della trasparenza: Consentendo ai consumatori di fare scelte informate sui prodotti che acquistano e supportando pratiche agricole etiche.

🍀 Un esempio concreto di come Bitcoin venga usato e promosso per operazioni del tutto inutili e che già hanno dimostrato essere totalmente fallimentari, come ai tempi del progetto di registro blockchain sul vino e sui prodotti agricoli. Se il produttore userà prodotti dannosi per la salute e non registrerà l'operazione sulla chain, il consumatore troverà una "pagella" pulita e perfetta, quando in realtà questa non lo è affatto. Ecco come viene ricercato il profitto ad ogni costo, forzando tecnologie inevitabilmente di moda e questo contribuisce a rendere Bitcoin sempre meno Bitcoin.

Seguici sui nostri canali social ed unisciti al nostro gruppo Telegram:

https://t.me/Bitcoin_Report_Italia

BitcoinReportItalia #420 #Weed #Ganja #Green #Bio #Blockchain #Agenda2030 #WEF #BTC #Bitcoin

@ f4c59e4c:82f66850

Introduction

Dora Factory remains at the forefront of blockchain innovation and decentralized governance, playing a crucial role in the development of the blockchain ecosystem. This governance report for March and April 2024 delves into the strategic decisions and governance activities that have characterized Dora Factory's recent endeavors. By examining the outcomes of various proposals and the rationale behind voting decisions, we aim to shed light on the governance dynamics that underpin Dora Factory's efforts. This analysis not only reflects Dora Factory's dedication to innovation and ecosystem development but also highlights its commitment to principles that ensure the blockchain community thrives through sustainable and collaborative growth.

Proposals

2024-04-25 Akash #256 Yes Dora Factory voted yes on the Akash Mainnet 11 Upgrade proposal (#256) to upgrade the Akash Network to version v0.34.0. This upgrade extends the authz implementation for DeploymentDeposit to allow re-use of unspent funds by the grantee. It also prevents multiple grants from different grantors from being used for the deposit on the same deployment, thus mitigating potential issues with fund return.

2024-03-30 Akash #254 Yes Dora Factory voted "yes" on Akash proposal #254, which sought approval for the community pool disbursement of 15,951.59 AKT ($82,150.69) for event funding in Q2 2024. The proposal aimed to increase the events budget for Q2, including two additional community attendees, a doubled Akash side event budget, and a doubled sponsored event budget. The updated budget for tier one events was set at $134,150.69, and for tier two events was set at $48,261.53. The proposal took into account the leftover funds from Q1, which amounted to around $52,000 worth of AKT at current prices ($5.15 per AKT),

2024-03-24 Akash #253 No Dora Factory voted "no" on Akash proposal #253, which sought 9,615 AKT (equivalent to $50,000) for developing and open-sourcing a tool aimed at streamlining the deployment of large language models onto Akash. This would provide solutions for 95%+ text-text and text-image LLMs available on HuggingFace, enabling an instant deployment of any existing or upcoming LLM from Hugging Face onto the Akash Network.

2024-03-22 Akash #252 Abstain Dora Factory abstained from voting on Akash proposal #252, which aimed to expand the network's user base through Coinbase Learning Rewards. The Akash core team planned to run 2-3 Learn campaigns with Coinbase, with a requested budget of $8,000,000 or ~1,612,903 AKT.

2024-03-11 Akash #251 Yes Dora Factory voted "yes" on Akash proposal #251 to revive the expired OmniFlix IBC channel (channel-61). The proposal aims to substitute a new client (07-tendermint-187) in place of the old client (07-tendermint-119) to revive the channel between Akashnet and OmniFlix.

2024-03-08 Akash #250 Yes Dora Factory voted "yes" on Akash proposal #250 for Akash Accelerate 2024, a day-long summit focused on the Akash ecosystem and decentralized AI space. The event aims to bring recognition to Akash, highlight its achievements, and generate relationships. The proposed budget is $177,500, covering expenses for a VIP dinner, main event, cocktail party, venue, catering, equipment, event management, A/V rental, videographer, swag, photographer, hotels, flights, and overage. The event is planned for May, before Consensus, with promotions starting in mid-April.

2024-03-05 Akash #249 Yes Dora Factory voted "yes" on Akash proposal #249 for the v0.32.0 software upgrade, scheduled for March 13th, UTC 17:00, at a height of 15414427. The upgrade includes removing the active lease check during provider updates, eliminating an unused market store index, and updating the consensus version.

2024-03-05 Akash #248 Yes Dora Factory voted "yes" on Akash proposal #248 to decrease the minimum deposit amount for deployment and bid transactions. If successful, this parameter-change governance proposal will lower the minimum deposit for both deployment and bid create transactions from 5 AKT ($22) to 0.5 AKT ($2.20). This change aims to decrease the cost of deposits on leases by 90%.

2024-04-24 Archway #42 Yes Dora Factory supports incentivizing the lending of ARCH and sARCH tokens on Demex's Nitron money market to expand token utility and reduce selling pressure, aligning with Archway's vision for ecosystem growth. This strategic collaboration with Demex fosters stability in Archway's market capitalization and boosts TVL and staking rewards. Additionally, the proposal outlines future plans for a long-term partnership, including launching new markets and liquidity pools, indicating a commitment to sustained collaboration within the Cosmos ecosystem.

2024-04-08 Archway #40 Yes Dora Factory voted yes on the Archway proposal to revive the expired Sentinel(sentinelhub-2) IBC client 07-tendermint-90. This proposal aims to reactivate the expired client by utilizing data from the newly created client 07-tendermint-98. By reviving the expired IBC client, Archway can maintain seamless interchain communication.

2024-03-06 Archway #39 No Dora Factory voted "no" on Archway proposal #39 for a Fast, Reliable, and Scalable Public RPC powered by Lava. The proposal sought to allocate $75,000 worth of ARCH tokens from the community pool to the Lava Foundation to launch a new public RPC endpoint for Archway. Despite the potential benefits of Lava's Incentivized Public RPC (ipRPC) initiative, Dora Factory's decision to vote against the proposal suggests concerns about the allocation of community funds.

2024-03-27 Cosmos #895 No Dora Factory voted "no" on Cosmos proposal #895, a signaling proposal for a permissioned CosmWasm. This proposal aims to replace proposal 893, which lacked details.

2024-03-27 Cosmos #893 No Dora Factory voted "no" on Cosmos proposal #893. The proposal's details and its impact on the Cosmos ecosystem are not provided.

2024-03-14 Cosmos #890 Yes Dora Factory voted "yes" on Cosmos proposal #890, which recommends adding the IBC Rate Limit module developed by Stride Labs to the Cosmos Hub. This module aims to limit potential damage to user funds in case of an exploited vulnerability by preventing massive inflows or outflows of IBC tokens in a short time frame. Initially, conservative rate limits with a 24-hour time window are proposed for various channels, such as 5% for uatom on Cosmos Hub-Osmosis (channel-141) and 1% for uatom on Cosmos Hub-Neutron (channel-569).

2024-03-01 Cosmos #885 Yes Dora Factory voted "yes" on Cosmos proposal #885 for the Gaia v15 software upgrade, which focuses on upgrading the Cosmos SDK to v0.47 with support for ICS and LSM. The proposal also includes upgrading dependencies, migrating vesting funds to the community pool, and setting the minimum commission rate staking parameter to 5%. The Gaia v15 release has undergone rigorous testing, including e2e tests, integration tests, and differential tests, as well as independent testing by Hypha Co-op.

2024-04-28 dYdX #55 Yes Dora Factory voted yes on the dYdX proposal to add a WIF-USD perpetual market on dYdX. This proposal aimed to introduce necessary parameters for the WIF-USD perpetual market.

2024-04-25 dYdX #54 Yes Dora Factory supported extending the dYdX Chain Launch Incentive Program for three more months, allocating an extra $10 million in DYDX. This aimed to sustainably boost trading activity and expand the user base. Dora Factory supports extending the dYdX Chain Launch Incentive Program because it aligns with their goals of fostering sustainable growth of the dYdX ecosystem.

2024-04-23 dYdX #53 Yes Dora Factory backed dYdX Proposal #53, supporting the software upgrade to dYdX Chain Protocol v4.1.0. This upgrade aimed to enhance user experience, particularly with conditional orders. It included skipping collateralization checks for untriggered orders and deprecating the pessimistic add-to-order book collateralization check. Dora Factory endorsed the proposal for its efforts to improve user experience and advance the dYdX platform's functionality.

2024-04-23 dYdX #51 Yes Dora Factory supported dYdX Proposal #51, which aimed to distribute $5M in DYDX tokens to qualifying users participating in trading season 3 of the dYdX Chain Launch Incentives Program. Spearheaded by Chaos Labs, the proposal ensured fairness by analyzing trading data to identify and address artificial or wash trading activities. Transparency was upheld through openly publishing recommendations and relevant data on the dYdX Chaos Labs Risk Portal.

2024-04-23 dYdX #52 Yes Dora Factory voted yes on the dYdX proposal to add a CHX-USD perpetual market on dYdX. This proposal aimed to introduce necessary parameters for the CHX-USD perpetual market.

2024-04-20 dYdX #50 Yes Dora Factory voted yes on the dYdX proposal to add a DYDX-USD perpetual market on dYdX. This proposal aimed to introduce necessary parameters for the DYDX-USD perpetual market.

2024-04-06 dYdX #49 Yes Dora Factory supported dYdX proposal #49 to liquid stake 20M DYDX tokens with Stride to bolster the dYdX Chain's economic security and stake-weight distribution. This initiative, which includes a 25% fee reduction from Stride, aims to enhance the chain's economic security and decentralize validator participation. Prior testing confirmed the seamless execution of staking and unstaking processes, ensuring the proposal's feasibility.

2024-04-06 dYdX #48 No Dora Factory voted "no" on dYdX proposal #48, the dYdX Short-Term Boost Program (STBP) which outlined a six-month $1M grant program focused on community engagement, driven by analytics and overseen by a council of three experts. Despite the initiative's potential to foster community involvement and growth, the proposal details provided were not very comprehensive.

2024-04-02 dYdX #46 Yes Dora Factory voted "yes" on dYdX proposal #46 for the dYdX Chain Software Upgrade v4.0.0, aimed at enhancing the platform's functionality and security. This upgrade introduces significant advancements such as advanced order book features, risk and safety improvements, and enhancements related to the Cosmos ecosystem. Key updates include the introduction of Reduce-Only Orders with Fill-Or-Kill (FOK) and Immediate-Or-Cancel (IOC) options, enhancing the trading experience by allowing precise order executions. Additionally, the upgrade enhances security through IBC Withdrawal Rate Limiting using a Continuous Token Bucket algorithm and a new safety mechanism that blocks transfers and withdrawals under specific conditions.

The upgrade also integrates the x/authz module from the cosmos-sdk, which allows for the granting of specific privileges, adding flexibility and security to the protocol. Furthermore, the protocol has been upgraded to Cosmos SDK v0.50.3, introducing features like optimistic execution and vote extensions.

2024-03-07 dYdX #34 Yes Dora Factory voted yes on the dYdX proposal to add a ALGO-USD perpetual market on dYdX. This proposal aimed to introduce necessary parameters for the ALGO-USD perpetual market.

2024-03-07 dYdX #33 Yes Dora Factory voted yes on the dYdX proposal to add a HBAR-USD perpetual market on dYdX. This proposal aimed to introduce necessary parameters for the HBAR-USD perpetual market.

2024-03-04 dYdX #31 Yes Dora Factory voted yes on the dYdX proposal to add a IMX-USD perpetual market on dYdX. This proposal aimed to introduce necessary parameters for the IMX-USD perpetual market.

2024-03-04 dYdX #30 Yes Dora Factory voted yes on the dYdX proposal to add a INJ-USD perpetual market on dYdX. This proposal aimed to introduce necessary parameters for the INJ-USD perpetual market.

2024-03-19 Evmos #272 Yes Dora Factory voted "yes" on Evmos proposal #272 to extend liquidity mining incentives for Phase 4. The proposal seeks 260,635 EVMOS tokens per month for 3 months (April - June) to maintain current incentive levels, which were reduced by 25% on March 14, 2024. This aims to support the Evmos ecosystem's growth during the upcoming Wormhole upgrade and potential cross-chain marketing initiative.

2024-04-19 Injective #392 Yes Dora Factory supported Injective Proposal #392 for INJ 3.0, aiming to make INJ more deflationary by decreasing inflation rate bounds over two years. This aligned with Dora Factory's goal of fostering sustainable ecosystems and rewarding stakeholders. The proposal also sought to increase responsiveness to staking activity, ensuring protocol adaptability. Overall, Dora Factory endorsed this initiative for its potential to create a robust, sustainable asset in line with Injective's long-term vision.

2024-04-17 Injective #391 Yes Dora Factory voted yes on Injective Proposal #391 because it recognized the significance of adding the messages /cosmwasm.wasm.v1.MsgInstantiateContract and /cosmwasm.wasm.v1.MsgExecuteContract as ICA host allow messages. This addition would facilitate the trustless posting of redemption rate values to the Stride Redemption Rate Oracle Contract on the Stride blockchain. By supporting this proposal, Dora Factory aimed to enhance the reliability and functionality of the oracle system within the Injective ecosystem, contributing to the ecosystem's overall robustness and efficiency.

2024-04-14 Injective #389 Yes Dora Factory voted "yes" on Injective proposal #389 to upload the Stride Redemption Rate Oracle Contract. This contract uses an interchain account to provide decentralized redemption rates for Stride’s stTokens, such as stINJ, on the Injective blockchain. It aims to enhance the reliability of oracle price feeds for stTokens in collaboration with Levana’s and Neptune’s oracle implementations.

2024-03-30 Injective #377 Abstain Dora Factory abstained from voting on Injective proposal #377 to upload the Ninza Pepe PvP Contract Wasm Code in order to maintain a neutral stance on the integration of this specific gaming contract within the Injective ecosystem.

2024-03-30 Injective #378 Abstain Dora Factory abstained from voting on Injective proposal #378 to upload the A5TOUND Playland Plaza Contract. This contract aims to introduce mystery boxes, referred to as Loot Boxes, to the Injective blockchain. By abstaining, Dora Factory maintains a neutral stance on the integration of this specific gaming contract within the Injective ecosystem.

2024-03-28 Injective #376 Abstain Dora Factory abstained from voting on Injective proposal #376 to upload the Blocksmith Labs Presale Contract. This contract is designed to facilitate presale activities on the Injective network, allowing users to purchase a set amount of supply during the presale period. By abstaining, Dora Factory maintains a neutral stance on the integration of this specific presale contract within the Injective ecosystem.

2024-03-25 Injective #368 Abstain Dora Factory abstained from voting on Injective proposal #368 to upload the Ninja Blaze Double Contract. This contract is part of the Ninja Blaze gaming platform, which aims to provide transparent and verifiable blockchain-based games where players compete against each other. By abstaining, Dora Factory maintains a neutral stance on the integration of this specific gaming contract within the Injective ecosystem.

**2024-03-25 Injective #370 Abstain - 2024-03-25 Injective #372 Abstain** Dora Factory abstained from voting on Injective proposal #370 to #372 to upload the Ninza Multicall Contract Wasm Code in order to maintain a neutral stance on the integration of this specific gaming contract within the Injective ecosystem.

2024-03-25 Injective #373 Abstain Dora Factory abstained from voting on Injective proposal #373 to upload the Ninza Referral Contract Wasm Code. This contract is part of the Ninza.xyz GameFi project built on the Injective blockchain, which offers a decentralized gaming experience with various rewards, including INJ, $NINZA, $nGOLD, points, XPs, and NFTs. By abstaining, Dora Factory maintains a neutral stance on the integration of this specific gaming contract within the Injective ecosystem.

2024-03-25 Injective #369 Yes Dora Factory voted "yes" on Injective proposal #369 to distribute 39,190.069 INJ tokens as rewards for the Open Liquidity Program (OLP) in epoch 30. The total includes previously earned rewards from epoch 27 and 50% of the rewards for epoch 30. The remaining 50% of epoch 30 rewards will be paid out in the future, provided the recipient remains an active participant in the OLP.

2024-03-21 Injective #362 Yes Dora Factory voted "yes" on Injective proposal #362 to upload the Aeroscraper Lending & Borrowing Protocol Contract Wasm Code. This decision supports the integration of the Aeroscraper protocol into the Injective ecosystem, offering users a decentralized, governance-free lending and borrowing platform with zero percent interest rates. Aeroscraper utilizes the AUSD stablecoin and an efficient liquidation mechanism to ensure capital efficiency and stability.

2024-03-18 Injective #361 Yes Dora Factory voted "yes" on Injective proposal #361 to increase the maximum trading leverage for BTC Perp and ETH Perp to 20x. This change, driven by the high liquidity of these perpetual markets, sets the initial margin for 20x leveraged BTC and ETH pairs at 4.95%, with a maintenance margin of 2%.

2024-03-18 Injective #360 Yes Dora Factory voted "yes" on Injective proposal #360 to update the minimum quantity tick for the QUNT/INJ market. This change aims to enhance the trading experience for markets with low prices by adjusting the minimum quantity tick from 1000 to 100, allowing for more precise trading and improved market liquidity.

2024-03-15 Injective #359 Yes Dora Factory supported Injective proposal #359 to add the Aeroscraper Lending & Borrowing Oracle Helper Contract. This move brings a decentralized, zero-interest lending and borrowing platform to Injective, using the AUSD stablecoin and a streamlined liquidation process to offer a DeFi experience free from governance overhead and optimized for capital efficiency.

2024-03-11 Injective #355 Yes Dora Factory voted "yes" on Injective proposal #355 to increase the window for Peggy-related penalties, aligning it with the current block signing penalty parameters. This proposal, drafted by the Citadel.one validator, aims to harmonize the penalization mechanisms within the Injective ecosystem, ensuring consistency in the handling of potential violations.

2024-03-08 Injective #354 Abstain Dora Factory abstained from voting on Injective proposal #354 to upload the Injex Finance Contract Wasm Code. This contract is designed for the Injex Finance app, which aims to provide liquidity aggregation services within the Injective ecosystem by connecting to various DEXes, pooling liquidity, and offering optimized rates.

2024-03-02 Injective #353 Yes Dora Factory voted "yes" on Injective proposal #353 to update the minimum price tick and minimum quantity tick for the USDe/USDT market. This change aims to enhance the trading experience by adjusting the minimum price tick from 1000000000000000000000 to 0.0001 and the minimum quantity tick from 0.001 to 0.1 for the USDe/USDT market.

2024-03-06 Sei #52 Yes Dora Factory voted "yes" on Sei proposal #52 to revive the Agoric IBC client 07-tendermint-44. This decision supports the reactivation is essential for enabling interoperability and asset transfers between the Sei and Agoric networks.

Conclusion

Reflecting on the governance activities of March 2024, it's clear that Dora Factory's decisions and the proposals it has supported are deeply rooted in a commitment to decentralized governance and the betterment of the blockchain ecosystem. The strategic choices outlined in this report underscore Dora Factory's proactive approach to addressing challenges and its vision for fostering a more inclusive and innovative blockchain future. As we move forward, Dora Factory is poised to continue participating in governance to promote ecosystem growth, enhance partnerships, and contribute to the blockchain technology's evolution.

For more details and regular updates, visit Dora Factory's Governance Portal

@ d34e832d:383f78d0

The Societal Impact of Bitcoin: Decentralization, Power Dynamics, and Human Power

Bitcoin represents more than just a digital currency; it signifies a paradigm shift in the way society understands and utilizes money. This transformation is rooted in Bitcoin's decentralized nature, which poses a challenge to traditional financial systems and their centralized control over monetary transactions.

Decentralization and Democratization of Finance

One of the central attributes of Bitcoin is its ability to decentralize financial transactions. By eliminating the need for central authorities such as banks and governments, Bitcoin paves the way for a more democratized financial system. Individuals gain unprecedented control over their assets, fostering an environment where financial inclusivity and autonomy are enhanced. The concept reflects the internet's architecture discussed in this source, which is inherently democratic and decentralized, featuring no single point of failure. Such a structure could radically transform sectors reliant on fiduciary trust, like accounting, commercial law, and insurance, making them more efficient and less dependent on centralized entities.

Addressing Global Inequalities

Beyond its technical capabilities, Bitcoin holds the potential to address broader societal issues such as globalization and capitalism-related inequalities (source). While not a panacea, Bitcoin can undermine the power of states and central banks, potentially reducing social inequalities and political oppression. This aspect underscores Bitcoin’s role not only as a technological innovation but also as a socio-political tool that could reshape global structures.

The Future of Bitcoin and Its Societal Role

As Bitcoin continues to evolve, its impact on society extends beyond fintech. It questions long-standing power hierarchies, proposes new models for financial interactions, and stimulates discussions on sustainability and innovation. The ongoing debate and research are vital as they shape public perception and policy regarding Bitcoin and its integration into daily life.

Bitcoin is at the forefront of redefining the future of money. It challenges existing structures, advocates for a more equitable financial landscape, and provokes critical discussions on environmental sustainability. The journey of Bitcoin is not merely about technological advancement but about paving a new path for societal development and human interaction.

Further Reading and Exploration

For those keen on exploring more about Bitcoin’s implications and technological underpinnings, consider delving into discussions and research papers available in various forums and academic circles. These resources provide deeper insights and broader perspectives on the potential and challenges of Bitcoin in reshaping societal norms.

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Note: This article integrates perspectives and data from discussions and sources within the Bitcoin community, reflecting a collective understanding of Bitcoin's impact on society. For a more detailed exploration of the topics discussed, readers are encouraged to review the cited sources for comprehensive insights.

Bitcoin: Transforming Society's Financial Fabric

In our journey through technological revolutions, few innovations have sparked as much debate and potential as Bitcoin. At its core, Bitcoin challenges existing paradigms and redefines our understanding of monetary transactions. Its decentralized nature not only offers a new approach to managing finances but also reshapes societal structures and power dynamics.

Decentralizing Power and Control

Bitcoin's architecture inherently promotes a decentralized and democratic system, reminiscent of the internet's original ethos—with no single point of failure (source). This feature holds the potential to revolutionize various sectors including fiduciary trust, accounting, legal frameworks, and insurance. By mitigating the reliance on centralized authorities such as banks and governments, Bitcoin encourages a more equitable financial environment.

A Shift Towards Democratic Finance

The potential of Bitcoin extends beyond mere financial transactions. It offers a novel paradigm where individuals exert greater control over their assets, leading to a more democratized financial landscape. This shift profoundly impacts how power is distributed and exercised within society, suggesting a future where financial equity is tangible.

Addressing Global Disparities

Discussions around Bitcoin often touch upon its capacity to addresses issues intrinsic to globalization and capitalism. While Bitcoin is not a cure-all for deep-seated social issues, it provides a tool that can diminish the influence of central banks and state powers, potentially reducing social inequalities and political oppression (source).

A Tool for Social Change

By circumventing traditional financial pathways, Bitcoin presents an alternative that could redistribute economic leverage, offering a counterbalance to entrenched systemic inequities.

The Road Ahead: Bitcoin's Societal Hard Involvement

As Bitcoin continues to mature, its societal hardening become more pronounced. It challenges traditional power structures, proposes innovative models for financial interactions, and stimulates discussions on technological advancements. The ongoing dialogue surrounding Bitcoin is not merely about its viability as a currency but its broader role in shaping future societal norms and human power

Bitcoin stands at the vanguard of a potential financial revolution. Its impact stretches beyond economics, touching on aspects of governance, social equity, and environmental stewardship. As we navigate these transformative waters, Bitcoin remains a key topic of discourse, emblematic of the broader search for more democratic and equitable systems.

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Further Reading and Resources:

For those looking to dive deeper into the intricacies of Bitcoin and its impact, consider exploring the comprehensive discussions and analyses available through the links provided in this article. Engage with the community, participate in ongoing debates, and contribute to the shaping of this evolving technological landscape.

Sources:

1. BitcoinTalk
2. Linux Foundation Bitcoin Dev Mailing List July 2022
3. Bitcoin Stack Exchange Discussion on Bitcoin's Societal Impact

Bitcoin's Role as a Treasury Reserve Asset: Navigating Threats and Opportunities

Bitcoin, a pioneering Reserve Asset, has gradually evolved from a speculative investment to a potential treasury reserve asset for various entities. This significant shift in perception underscores Bitcoin's growing influence and maturity within the financial domain. As we explore Bitcoin's integration into financial assets and reserves, it's crucial to understand the inherent risks, its adaptive environment, and how it shapes the domain in which it operates.

The Threats to Entities Holding Bitcoin

Entities that hold Bitcoin as a treasury reserve asset are navigating uncharted territories, where both opportunities and threats abound. The primary concern revolves around price volatility, potential regulatory shifts, and security risks associated with the digital nature of Bitcoin. Moreover, geopolitical risks come into play—if one state decides to take punitive or restrictive measures against Bitcoin, it could trigger a ripple effect, prompting other states to assess their stance, either as a protective measure or to capitalize on an open digital currency platform.

A Thriving Environment Amidst Challenges

Despite these potential threats, Bitcoin continues to find a thriving environment fostered by certain key factors:

• Technological Advancements: Continuous improvements in blockchain technology and transaction security bolster Bitcoin's attractiveness and its perception as a resilient asset.
• Decentralized Nature: A core advantage of Bitcoin is its decentralized framework. Even in the face of state-level attacks or policies, Bitcoin can operate and be maintained from anywhere in the world, ensuring its survival and functionality.
• Global Participation: As more nations and corporations explore Bitcoin, it gains diverse footholds, which can mitigate the impact of any single nation’s negative stance.

The Evolving Domain of Bitcoin

Bitcoin's current trajectory is redefining its operational domain. No longer just a currency or investment, Bitcoin is increasingly viewed through the lens of a reserve asset—a store of value that could potentially backstop private and public treasuries.

• Market Maturity: Bitcoin is becoming more integrated with traditional financial systems, with futures trading, ETFs, and other financial instruments that use Bitcoin as the underlying asset.
• Regulatory Landscape: Regulation will define Bitcoin's future use as a reserve asset. Positive regulatory frameworks can enhance its legitimacy, while restrictive policies might limit its potential.

Incentivizing Network and Cryptographic Contributions

One of Bitcoin's revolutionary impacts lies in how it incentivizes contributions to its network and underlying cryptographic security. By rewarding miners for processing transactions and securing the network, Bitcoin ensures that its ecosystem remains robust and efficient. This incentive mechanism also drives continual technological and security enhancements, as participants invest resources to maintain and improve system integrity.

• Rewards System: Mining rewards, which compensate network participants with Bitcoin, ensure that there is always a motivation to contribute to network activities.
• Enhanced Security Investments: As the value and use of Bitcoin grow, so does the incentive for improving its cryptographic foundations, promoting a cycle of continuous enhancement.

Closing

As Bitcoin matures into a potential treasury reserve asset, it navigates complex landscapes of threats and opportunities. Its capacity to adapt to a thriving environment, even under potential attacks or challenges, highlights its resilience. Furthermore, its ability to incentivize contributions ensures that the network remains robust and continues to evolve.

Entities considering Bitcoin in their asset strategies must weigh these factors carefully, balancing potential risks against the revolutionary prospects that Bitcoin offers. As the domain of Bitcoin expands, its impact on global finance, network security, and economic structures promises to be profound, warranting close attention and thoughtful engagement from all stakeholders in the financial ecosystem.

In this evolving narrative, Bitcoin is not merely a digital phenomenon but a potential cornerstone in the future architecture of global finance.

I can run my own node: With keys I Take ownership Of , Shifting to any trustee or Myself

Navigating the New Frontier of Treasury Reserve Assets

As Bitcoin continues to carve its niche in the global financial landscape, organizations and sovereign entities embracing it as a treasury reserve asset are navigating a complex matrix of opportunities and threats. This digital currency, known for its decentralized nature and potential to disrupt traditional financial systems, is moving towards a future where its influence on economic strategies cannot be ignored.

The Dual-Edged Sword of Adoption

For those who have integrated Bitcoin into their treasury reserves, the decision comes with inherent risks. The volatile nature of cryptocurrency markets means that entities must remain vigilant against the fluctuations that could affect the valuation of their reserves. Moreover, regulatory uncertainties loom large, as governments around the world grapple with how to accommodate or control this new form of asset. Yet, despite these challenges, the allure of Bitcoin's potential rewards—such as protection against inflation and currency devaluation—continues to attract a growing number of adopters.

Thriving in Adaptability

Bitcoin's resilience lies in its ability to thrive in adaptable and supportive environments. As jurisdictions compete to become the next crypto hubs, they create ecosystems where Bitcoin can grow unencumbered by restrictive regulations. These thriving environments not only benefit from the innovation and investment attracted by being crypto-friendly but also contribute to the global narrative that Bitcoin and other cryptocurrencies are here to stay.

The Evolving Domain of Bitcoin

The domain in which Bitcoin operates is continually evolving, shaped by technological advancements, market dynamics, and changing regulatory landscapes. From its inception as a peer-to-peer electronic cash system to its current role as a speculative investment and potential reserve asset, Bitcoin is exploring new realms. Innovations in blockchain technology and increased institutional interest are paving the way for Bitcoin to expand its use cases and further integrate into mainstream financial systems.

A United Front Against Adversity

The decentralized nature of Bitcoin means that an attack on it by one state highlights its importance to all others. Such actions underscore Bitcoin's role as a geopolitical tool and a hedge against state-level risks. In essence, attempts to undermine Bitcoin can inadvertently increase its visibility and credibility, uniting its global community of users, developers, and investors against perceived threats. This solidarity enhances Bitcoin's resilience and underscores its potential as a non-sovereign safe-haven asset.

Incentivizing Contributions Through Cryptography

At the heart of Bitcoin's success is its incentive mechanism, which rewards contributions to the network and advancements in cryptography. Miners secure the network by validating transactions and are rewarded with newly minted bitcoins, while developers are motivated to enhance Bitcoin's protocol, ensuring its security, efficiency, and scalability. This model of incentivization has led to a vibrant ecosystem where innovation flourishes, and continuous improvements are made to the underlying technology.

In conclusion, as Bitcoin matures and expands its domain, the complexities it faces will undoubtedly evolve. However, its foundational principles—decentralization, transparency, and incentivization—equip it to navigate these challenges and solidify its status in the financial world. For entities holding Bitcoin as a treasury reserve asset, the journey may be fraught with uncertainty, but the potential for unprecedented rewards makes it a path worth exploring.

Sources

[0] Satoshi Nakamoto. (2012, April 17). Bitcoin P2P e-cash paper. Bitcointalk Forum. https://bitcointalk.org/index.php?topic=157130.msg1665557#msg1665557

[1] Maxwell, G. (2022, July 5). [bitcoin-dev] SIGHASH_NOINPUT and forward security. Bitcoin-dev Mailing List. https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2022-July/020685.html

[2] Back, A. (2015, August 17). Re: [bitcoin-dev] Block size, technical merit, and trade-offs. Bitcoin-dev Mailing List. https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2015-August/010473.html

[3] Andrychowicz, M. (2013, April 1). How Bitcoin will change society. Oleganza Blog. https://blog.oleganza.com/post/46894057432/how-bitcoin-will-change-society

[4] eMansipater. (2013, May 23). Re: A Guide to Bitcoin Transaction Priority. Bitcoin Stack Exchange. https://bitcoin.stackexchange.com/questions/15490#16572

[5] Meni Rosenfeld. (2013, May 22). Re: A Guide to Bitcoin Transaction Priority. Bitcoin Stack Exchange. https://bitcoin.stackexchange.com/questions/65948#65950

[6] Antonopoulos, A. (2015, March 7). Internet of Value. BTC Transcripts. https://btctranscripts.com/mit-bitcoin-expo/mit-bitcoin-expo-2015/internet-of-value

[7] Gideon Greenspan. (2013, May 23). Re: A Guide to Bitcoin Transaction Priority. Bitcoin Stack Exchange. https://bitcoin.stackexchange.com/questions/21002#21004

[8] Maxwell, G. (2022, February 3). Re: [bitcoin-dev] Payjoin BIP draft. Bitcoin-dev Mailing List. https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2022-February/020022.html

@ fbe736db:187bb0d5

This article was originally published in Bitcoin magazine in July 2022 - with figures quoted at that point in time. Please see the bottom of the article for a brief 2024 update.

MicroStrategy (MSTR) currently sits on a huge loss on their bitcoin purchases. Based on a current bitcoin price of $20,300, their 129,699 aggregate bitcoin holdings are worth $2.6 billion, down from a total purchase cost of roughly $4 billion (average cost $30,700). Hence they are sitting on unrealized losses of ~$1.4 billion on their purchases.

The last couple of years have been a wild ride for MSTR shareholders, and ironically, the share price ($186) doesn’t sit that far above the share price in the summer of 2020 when they announced their first bitcoin purchase (approximately $140).

Michael Saylor has appeared bemused by the continuous speculation online at MSTR having their bitcoin holdings liquidated at around $21,000 due to the recent $200 million loan with Silvergate. Even searching for Michael Saylor’s name on Twitter brought up the auto-complete phrase “Michael Saylor liquidated.”

This speculation is pretty misleading, but even still, where does the recent market turmoil in Bitcoin leave them? To consider this, let’s simply outline the terms of the various debts they have taken on in the last couple of years, including that Silvergate loan.

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First Convertible Note Offering — December 2020

MicroStrategy Completes $650 Million Offering of 0.750% Convertible Senior Notes Due 2025

The first convertible note offering was for $650 million, due in December 2025. The interest rate payable for these by MSTR was just 0.75%, making the servicing of this debt pretty easy — just under $5 million interest cost per year.

Hence, these convertible bond holders are not receiving much interest, but they do have the option to convert their investment to MSTR shares at $398 per share. Thus this represents a type of call option on the future price of MSTR shares, albeit one which is now worth less at current market prices.

To illustrate the convertible part, let’s say MSTR stock is priced at $500 per share at the redemption date in Dec 2025 — if you had $1 million of convertible notes they would then be worth $1.25 million, since you could buy the shares for $398 and immediately sell them for $500. This, and other upside scenarios, explain the low interest rate payable.

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Second Convertible Note Offering — February 2021

MicroStrategy Completes $1.05 Billion Offering of Convertible Senior Notes Due 2027 at 0% Coupon and 50% Conversion Premium

This offering (which raised $1.05bn) is much along the same structure as the first, albeit at even better terms from an MSTR point of view, and worse terms for the convertible bond holders. This time, the interest rate is 0%, so there is no interest cost and the redemption date is in February 2027.

The convertibility for these notes only contains value if the share price of MSTR is above $1,432 per share — hence much less likely to be converted than the previous offering. It seemed comparatively more likely at the time, given the stock price closed at $955 on February 16, 2021.

Skeptics will question the virtue of raising this much debt to buy bitcoin, but one element seems clear in hindsight — MSTR and Michael Saylor got a pretty good deal in borrowing on these terms at the time.

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Senior Secured Notes — June 2021

MicroStrategy Completes $500 Million Offering of 6.125% Senior Secured Notes Due 2028 With Bitcoin Use Of Proceeds

This represented a more conventional bond offering. MSTR borrowed $500 million until 2028, at an annual interest rate of 6.125%. This makes the annual interest cost of these bonds approximately $30.6 million, substantially more than the previous convertible notes interest cost combined.

This announcement also coincided with the establishment of a subsidiary — “MacroStrategy” — which would hold the existing 92,079 bitcoin that they owned. While the new debt was senior secured notes — having a high priority of being paid versus other creditors in the event of future insolvency — crucially they are not secured against the 92,079 bitcoin. This becomes relevant when we consider the later Silvergate bitcoin-backed loan.

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Silvergate Bank Loan — March 2022

This loan was slightly different — borrowing $205 million for three years which is backed by the MacroStrategy-held bitcoin. As linked to in slides 11 and 12 in this presentation, this was initially backed by 19,466 bitcoin, but more can be specifically pledged as collateral should the price of bitcoin fall.

First Quarter 2022 Financial Results Presentation

The “top up” loan-to-collateral-value ratio is 50%. It is this fact that has presumably led many to cite the MSTR liquidation price on the loan as the price of bitcoin falling below $21,000 — at this point the 19,466 bitcoins would be worth below $410 million (2 x 205), and they would need to pledge more collateral under the terms of the loan. But as Michael Saylor pointed out and the slides above show, there are a further 95,643 bitcoins which have not yet been pledged, and could be.

https://twitter.com/saylor/status/1523996525151539203

The math works as follows regarding the $3,562 referenced in the above tweet. At that price point the total 115,109 bitcoin available to back the loan would be only worth $410m, so MicroStrategy would have to pledge some other collateral to keep the 50% loan-to-value ratio going.

How about the interest cost on this loan? It’s based on the 30-day average SOFR (Secured Overnight Funding Rate) plus 3.7%. At the time of writing (end of June, 2022) SOFR is about 1%, so this makes 4.7% total. Based on 4.7% interest, it would cost them about $9.6 million annually to service the interest currently. However, the 1% SOFR rate is expected to go higher. Further SOFR rises would not prove too material though — at 4%, for example, (and hence 7.7% total) the interest cost would be $15.8 million.

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Conclusions

So what can we conclude from all this?

1. The interest costs in total from all the debt raised to buy bitcoin look manageable, totalling around $45 million ($5m + $0 + $30.6m + $9.6m) per year at present. This looks affordable to service — the recent quarterly results show gross profit for the recent quarter at $94 million.

MicroStrategy Announces First Quarter 2022 Financial Results

1. Even given huge recent declines in the price of bitcoin, MSTR’s holdings should not be impacted by the price in the short term, unless it falls massively, to $3,500k. This is due to the sheer amount of bitcoin they have available to back the Silvergate loan, to keep the backing at a 50% loan-to-value ratio.

2. What is of course striking is the current huge on-paper loss that MSTR is sitting on in terms of its bitcoin purchases, given that their average cost basis is $30,700 per bitcoin. It would no doubt prove a problem for them if the bitcoin price remains below this in the longer term and some of the debt starts to near redemption. The first loan due is the Silvergate loan in March 2025. Given this is with bitcoin backed as collateral, it may actually be possible to roll this over in a similar fashion.

The next due is the first convertible note offering in December 2025. If MSTR is still sitting on huge bitcoin losses at this point, they may find it hard to roll over that $650 million debt in the market. It would lead to a tricky decision as they would presumably want to avoid selling any bitcoin at a loss in order to pay back the debt.

One aspect is very much on their side, though: In the world of Bitcoin, or indeed even the wider macroeconomic environment, December 2025 feels like a very long time away.

1. It seems unlikely that MSTR would seek (or indeed be able) to raise much more debt in current market conditions — as Michael Saylor points out in the interview clip below, they borrowed previously on pretty advantageous terms. It also seems unlikely right now that they would sell additional equity into the market to buy more bitcoin, which they have also done previously, as the share price is currently so low.

2. They could carry on buying more bitcoin with profits and indeed, while writing this, MSTR did announce a further small bitcoin purchase of $10 million.

3. What seems likely alongside this is opting to keep some future profits in dollars for optionality over the next couple of years rather than buy more bitcoin with it, despite bitcoin’s lower price. The Q1 2022 results linked above (see point 1) would suggest that they are currently building some cash reserves, holding $93 million in cash versus $63 million three months earlier.

4. One final option would be to buy back some of their own shares with profits from the business, given that their share price has declined by a higher proportion over the last 6–12 months than the bitcoin price. This essentially would send a signal that the market undervalues MSTR relative to even the bitcoin price, and would constitute a defiant, albeit risky, show of faith in their strategy.

Finally, it’s worth watching this video link from CNBC for some recent thoughts from Michael Saylor, which includes the following quotes:

Interviewer: “Would you consider buying more?”

Michael Saylor: “Yeah. If your time horizon is one month, then Bitcoin looks like a volatile risk asset. But if your time horizon is ten years, it looks like a risk off store of value asset …”

“… we borrowed 2.2 billion dollars at a blended interest rate of 1.8% before interest rates doubled. It seemed like a reasonable thing to do. $1.7 billion is unsecured, the rest is a 7 year term after we borrowed the money. The margin loan is well managed …”

“… Bitcoin is the first and only legitimate scarcity in the universe.”

---

2024 Updates - as at 7th May 2024

This article aged quickly.. However, I have updated it below to show the main movements MSTR have made in the debt & equity markets since. As suspected in the article, they did stay away from issuing further debt until this year (see links below). However, they did issue a substantial amount of equity in 2023 and used it to buy more Bitcoin. Part of this also helped them pay off the Silvergate loan at a discount in early 2023.

27th March 2023 - MSTR paid off the entire Silvergate loan at approx 22% discount - see details in link below

https://www.microstrategy.com/press/microstrategy-repaid-silvergate-loan-and-increased-bitcoin-holdings-by-6455-and-now-holds-138955-btc_3-27-2023]

Equity issuance to buy Bitcoin - carried out over several quarters (I think this was in addition to around $1.0 billion equity issuance completed in 2021).

• $1.2 billion - Q4 2023
• $147m - Q3 2023
• $334m - Q2 2023
• $339m - Q1 2023
• $46m - Q4 2022

11th March 2024 - A further offering of $800m convertible notes at 0.625%

https://www.microstrategy.com/press/microstrategy-completes-800-million-offering-of-0625-convertible-senior-notes-due-2030_03-11-2024

19th March 2024 - A further offering of approx $600m convertible notes at 0.875%

https://www.microstrategy.com/press/microstrategy-completes-603-million-offering-of-0875-convertible-senior-notes-due-2031_03-19-2024

None of the content in this article should be construed as financial advice or taken as an endorsement to buy or sell shares in MSTR. The author owns shares in MSTR. Thanks to Will Schoellkopf for reviewing the original article.

@ 7e1d20be:0b4a42c2

Chef's notes

You can make it much better yourself than any restaurant would care to do for you

Details

• ⏲️ Prep time: 30
• 🍳 Cook time: 20
• 🍽️ Servings: 4

Ingredients

• 1 large chicken breast
• 5 tomatoes or puree
• 3 onions
• garlic
• cashews
• some dry green herb like dill or sage or parsley or whatever or the original kasoori methi
• curd
• butter
• cream
• the standard 5 masalas/spices/powders from india
• a bunch of small wrapped cloth bags of what is called solid spices / khada masala
• redchilly powder, chillies and salt as per taste

Directions

1. look at this video https://youtu.be/zF7dKdIMKvc?si=XRkXB9q3KoRoF_i6
2. make the sauce
3. put in the chicken
4. drizzle with butter and cream
5. bake bread
6. enjoy a better pizza with the same ingredients as a pizza

@ cce0989b:b497e608

You need more.

This message runs through Old Happy culture, affecting us from a very early age. We’re told that more is the secret to happiness.

Research shows, however, that the pursuit of more stuff doesn’t actually make us happy.

First of all, we adapt very quickly to good things in our lives. This is called hedonic adaptation. No matter what you get, you tend to get used to it.

Other studies have found that people who are more materialistic —which means they value stuff and money more highly — are more likely to be lonely, struggle with their relationships, and rate themselves as less satisfied with life.

Notice what this desire for more feels like inside of you. Maybe it’s a sort of clenching in your stomach. It could be a racing heart that signifies your fear. It could be a sense of urgency that leaves no space to pause and ask if something more is actually necessary.

When you feel that feeling, ask yourself, “What need am I trying to fill here?"

With that need in mind, you can look around to figure out how you can fulfill it.

Many of our needs can be fulfilled by simply pausing to notice, appreciate, and enjoy the good that is already present in our lives. You have people to love you, things that nourish you, community to support you, agency to make different choices, and interests to inspire you. These things can fulfill you in a way that more and more cannot.

@ 8eacc933:c739e248

What is SilentBerry?

Based on the RGB++ protocol, our Web3 digital music distribution platform adopts the innovative TTNFT model (a four-tier music NFT issuance system), offering a one-stop ecosystem for digital music asset issuance, investment, and revenue distribution. FT assets are issued on the BTC layer, while NFT assets are provided on Nervos and other blockchain ecosystems, enabling cross-chain interoperability.

Through technological empowerment and ecosystem construction, we encourage early investors through the TTNFT layered issuance model, attracting investors and fans at different levels. Artists provide music while fans provide liquidity, sparking innovation in products and services, with each song (NFT) generating strong liquidity.

“Berry” represents various berries found in nature, such as strawberries, blueberries, and blackberries, each with unique colors and flavors, symbolizing the wide range and richness of music styles. “Silent” in music composition represents a rest symbol, which is equally important as notes, together creating the rhythm and emotion of music.

“Silentberry” conveys a subtle and exquisite brand image, representing undiscovered treasures in the digital music field. It symbolizes music works and artists with great potential that are not yet widely known, and it aims to use the latest technology to nurture new music creativity and works in silence.

About TTNFT: TTNFT means “TierTune non-fungible token”. “TierTune” is a portmanteau word that combines “tier” and “tune”. The name implies that the system has a layered music NFT release model.

The current situation and pain points in the music industry

— The “Matthew Effect” of internet traffic: In traditional streaming platforms, 5% of the top musicians occupy 95% of the traffic, meaning that the vast majority of independent musicians struggle to gain exposure.

— Meager income for independent musicians: Despite being talented, independent musicians often earn little or no income. This is due to the revenue distribution mechanisms of traditional streaming platforms. Additionally, fans find it difficult to support their favorite independent musicians effectively.

— Lack of liquidity for music NFTs: Unlike PFPs, which are more collectible, music is inherently about dissemination. Although there are many music NFT projects on the market, the limited liquidity of music NFTs restricts greater support for independent musicians.

SilentBerry aims to revolutionize the digital music industry by addressing these critical issues, is not just a digital music distribution platform; it is a movement that empowers musicians, rewards creativity, and revolutionizes the way we experience and support music in the digital age.

Our Vision

Decentralized Business Model: Through a decentralized business model, SilentBerry ensures that artists and fans can share power and profits more equally, attracting more independent musicians to participate.

Symbiotic Relationship: Artists provide music, while fans provide liquidity, jointly helping each song generate more income. This cooperative relationship stimulates a broader range of product and service innovations, increasing the liquidity of each song.

Low Threshold for Profit: With just a few fans, musicians can generate income, reducing the threshold for success and encouraging more newcomers to enter the music creation field.

Early Revenue: Musicians can earn revenue early in the music release process, gradually increasing their earnings as releases continue, encouraging ongoing creativity and releases.

Why Choose the RGB++ Ecosystem?

The various advantages of the RGB++ protocol make it an ideal choice for building a Web3-based digital music distribution platform. It not only provides the technical foundation but also helps enhance user experience, protect privacy, promote asset liquidity, and support the long-term development and expansion of the platform.

Bitcoin Layer One Asset Issuance Protocol: RGB++ is a Bitcoin Layer One asset issuance protocol, which means it can directly issue and manage digital assets on the most secure and reliable Bitcoin network, providing a stable and secure foundation for music platforms.

Technical Advantages: The RGB++ protocol leverages the technical advantages of CKB (Nervos CKB), including its support for the UTXO model, Turing-complete smart contract capabilities, and PoW consensus mechanism. These features provide strong technical support for music platforms.

Interoperability: RGB++ implements a mapping between Bitcoin UTXO and CKB Cells, allowing BTC assets to interact directly with CKB on-chain assets without the need for cross-chain operations. This provides convenience for the liquidity and interoperability of assets on music platforms.

SilentBerry’s Technical Architecture

Our Economic System

The mutual empowerment between FT and NFT

Complementarity: FT and NFT can complement each other within the platform, with FT serving as the platform token and transaction medium, while NFT represents unique assets.

Value Conversion: Users can convert value between FT and NFT, such as obtaining FT as a reward by trading NFT.

Profit Distribution: The sales revenue of NFTs can be distributed to artists and investors in the form of FT.

Empowerment of the Platform and Ecosystem by FT and NFT

Users: Obtain a unique music experience by purchasing NFTs, while holding FT to participate in platform governance and enjoy services.

Artists: Sell works by issuing NFTs, while obtaining ongoing royalties and platform revenue through FT.

Investors: Invest by purchasing FT and seek unique assets with high appreciation potential through the NFT market.

FT ($Berry) Issuance Plan

$Berry is the first utility token of the RGB++ protocol. $Berry can be used for profit settlement, asset trading fee payment, and asset collateralization in practical applications such as the issuance, investment, and music creator economy of digital music assets on the Silentberry platform.

The total supply of $Berry is 66 million, with 10,000 $Berry per sheet, totaling 6,600 sheets. Paying tribute to the global best-selling music album “Thriller” by Michael Jackson (with a total of over 66 million copies sold).

SilentBerry Roadmap

2024.5: The first Utility Token of the RGB++ protocol: $berry $berry has a total supply of 66 million, paying tribute to the global best-selling music album “Thriller” by Michael Jackson (with sales exceeding 66 million copies). In future practical applications on the SilentBerry platform, such as digital music asset issuance, investment, and musician economic scenarios, $berry can be used for revenue settlement, asset transaction fees, and asset pledging.

2024 5–6: Official launch of the digital music distribution platform: SilentBerry As a digital music distribution platform for independent and diversified musicians, it converts songs into NFTs with different attributes through a decentralized distribution model, helping musicians create value with notes and protect dreams with NFTs. Users can discover and invest in music assets through the platform. $berry and NFT series assets will be used as functional tokens on the SilentBerry platform.

2024 Q3: SilentBerry opens the world’s first AI music digital asset issuance business Integrating AI music creation tools such as SunoAI, it provides a one-stop asset issuance service for AI music creators, enthusiasts, and investors, and realizes intelligent revenue distribution and settlement.

2024 Q3: Pre-sale of “HIFI Berry” lossless Web3 digital music player/wireless headphones begins Launching the world’s first high-quality lossless music player/wireless headphones with an integrated Web3 digital wallet, fully supporting mainstream lossless music formats such as FLAC+APE+WAV+WavPack+AIFF+ALAC, and integrating functions such as digital music distribution, trading, storage, and revenue distribution on the SilentBerry platform. Airdrops will also be conducted for some $berry and NFT series asset holders.

2024 Q4: Launch of the “CryptoSymphony Festival” global Web3 digital music selection Planning to launch an innovative, decentralized global music selection event, aiming to discover and recognize music talent worldwide using the transparency and inclusivity of Web3 technology. Inviting music industry experts, renowned artists, and music enthusiasts from different cultural backgrounds to form the judging panel. Additionally, using AI tools to assist in screening and recommending, allowing outstanding music works and musicians to gain broader recognition and corresponding economic rewards.

Our Social Media

Twitter：https://twitter.com/SilentBerryNFT Discord: https://discord.gg/dZ9jDP5vnw Telegram: t.me/SilentBerry

@ 1c6b3be3:73f0ae6f

Releases - No Bullshit Bitcoin

libsecp256k1 v0.5.0: Faster Key Generation & Signing The library libsecp256k1 v0.5.0 has been released with algorithmic improvements that increase the speed of key generation and signing while reducing binary size, particularly benefiting embedded users. A new function secp256k1_ec_pubkey_sort is added for sorting public keys lexicographically by their compressed serialization order. The point multiplication algorithm used in signing and public key generation has been changed, with new supported precomputed table sizes being 2 KiB, 22 KiB, or 86 KiB. This release maintains backward ABI compatibility with versions 0.4.x and 0.3.x. The update is available on the GitHub repository.

Emessbee: Construct Coinjoin Transactions Without a Coordinator (1 min) A privacy researcher has proposed a new protocol called Emessbee that enables coinjoins without relying on central coordinators. The protocol uses ring signatures and requires users to pay for their block space using a serverless flow. However, it is vulnerable to denial-of-service (DoS) attacks and lacks a Sybil-resistance mechanism. Nevertheless, its use of ring signatures without a coordinator has been identified as potentially useful for JoinMarket implementations.

Source:

https://privacypros.ca/articles/emessbee-a-serverless-coinjoin-protocol-for-bitcoin/ User 2: Emessbee is a protocol that enables Bitcoin users to perform coinjoins with other users without relying on a central coordinator or paying for any coordination fees. The protocol uses ring signatures and requires users to pay for their own block space, which is calculated after all change addresses are submitted and then divided equally among all participants.

The key advantages of the protocol are its lack of coordinator and coordinator fees. However, it currently lacks Sybil resistance and is vulnerable to DoS attacks. The developer has proposed a mechanism for reducing DoS attacks using 'The Kickout Protocol,' but it has not been implemented yet. Despite these shortcomings, the use of ring signatures in Emessbee could be useful for JoinMarket implementations, as it enhances the Sybil resistance of fidelity bonds and better protects makers against takers who attempt to reveal their outputs.

The protocol uses a 3-round serverless flow that can work with any public bulletin board allowing for sending and reading messages. The demo version of the protocol makes use of nostr as a public bulletin board for coordination, although the real version of the protocol would likely communicate over more secure channels.

Emessbee is not a complete coinjoin software, and it lacks a Sybil-resistance mechanism. However, its potential to be implemented in JoinMarket could enhance privacy features for Bitcoin users, as ring signatures allow for increased anonymity without relying on a central coordinator. Overall, Emessbee is an interesting proposal that showcases the potential of serverless flows and ring signatures to improve privacy in Bitcoin transactions. User 2: In summary, Emessbee is a protocol for enabling coinjoin transactions between users without a central coordinator. It uses a 3-round serverless flow and ring signatures to allow users to pay for their own block space. The key advantages of the protocol are its lack of coordinator and coordination fees. However, it currently lacks Sybil resistance and is vulnerable to DoS attacks. Despite these shortcomings, Emessbee's use of ring signatures could be useful for JoinMarket implementations, as it enhances Sybil resistance and better protects makers against takers who attempt to reveal their outputs. Overall, Emessbee showcases the potential of serverless flows and ring signatures to improve privacy in Bitcoin transactions. User 1: Interesting. I'm going to look into this more later today. Thanks!

🍵 "btc | bitcoin | lightning network | asic" - Google News

Argentina Uses Stranded Gas to Mine Bitcoin with GDA - Forbes Best Crypto to Buy Now May 7 – Bitcoin, AIOZ Network, Ethena - Cryptonews Bitcoin Well Activates Lightning Network Services - TipRanks.com - TipRanks Michael Saylor's MicroStrategy Holds Over 1% of All Bitcoins; Now the Company Could Move onto BlockDAG Network - Yahoo Finance ZKM raises $5 million ahead of Bitcoin-based Layer 2 launch - The Block The New Gold Rush: How Bitcoin Halving Benefits These Publicly-Traded Miners - TheStreet What Backs The Value Of Bitcoin? - CCN.com ZKM Secures $5M Pre-A Funding for Launch of Innovative Bitcoin Layer 2 Network - AccessWire Bitcoin Layer-2 Builder Botanix Labs Raises $8.5M From Polychain Capital, Others - CoinDesk How Axelar Intends to Connect Bitcoin with Over 65 Other Chains - DailyCoin Bitcoin ETF Issuer Franklin Templeton Bullish On Solana (SOL), Foresees It As 3rd Largest Crypto - NewsBTC Bitcoin Well Announces Successful Lightning Network Infrastructure Setup - InvestorsObserver

@ 46fcbe30:6bd8ce4d

Opinion about Bitcoin Core (desktop)

Bitcoin Core is the most prominent continuation of Satoshi Nakamoto's original work. Contributors to this project are pioneers in reproducible builds and it's the software with most attestations to its reproducibility and with probably thousands of academics looking at the code and how it's being compiled, this software sets the benchmark for transparency in self custody.

It started out being the Bitcoin full node, wallet, miner and even parts for a market place could be found in the early code base. Today, it is being stripped of the mining feature and even the wallet feature might get removed at some point.

For the average user, Bitcoin core is not a convenient wallet but arguably it's the only software that can really make sure you are receiving Bitcoin on the Bitcoin blockchain so almost all wallets talk to a server running this software one way or another.

WalletScrutiny #nostrOpinion

Join the conversation!

@ df3d362a:3c765ec9

In the context of bitcoin, “normie” means something like “don’t know, don’t care.” And “normie” comes from “normal.” In other words, normal people don’t care about bitcoin, at least not enough to use it.

Lack of exposure is not the problem. Bitcoin now regularly appears in the headlines of mainstream media, like USAToday, Fox, Forbes, The Economist, Le Monde, you name it. The term bitcoin generates more search traffic than other terms most of us are sick of hearing, like Kardashian.

But even though virtually every human and most seagulls have heard of bitcoin, fewer than half a million use it daily.

And it’s not for lack of effort on the part of the bitcoin community. We’ve written books, blogs (so many blogs!), recorded videos, organized conferences and meetups, and hosted podcasts (so many podcasts!) preaching the value of bitcoin. We put more effort into converting the nocoin infidels than most religions, but our beautiful temple remains sadly empty.

Educating the world about bitcoin has succeeded in building a community of knowledgeable, dedicated, enthusiastic people from the fields of tech, economics, politics, and finance, but orange pilling has taken us as far as it can. Like many strategies, the marginal gains of educating the world were remarkable in the early stages, but they’ve flattened.

Orange pilling has stopped working.

Show, Don’t Tell

I realize how controversial this claim is because orange pilling is so popular. It’s a strategy that has served us really well over the past 15 years. And most bitcoiners like education. We tend to be critical thinkers who devour blogs and books and podcasts to learn more about our passion and keep our minds sharp.

But we don’t research every topic, nor do we have to. I know very little about what a good workout and eating healthy do to my body on a cellular level, but I feel the benefits of both. In fact, our world is so complex that nobody can really understand all the important facets. How many welders and virologists or aeronautical engineers and app developers really understand each others’ fields? Most people are ignorant about most useful topics, and that’s just the way it is in a highly complex world.

Expertise, however, is not a precondition of enjoyment. I use all kinds of products and technologies — TikTok, AI assistants, and even water-treatment plants — simply because they make my life better. That’s all I really need to know. No technical understanding required.

All you need to benefit from a technology is utility. It just has to improve people’s lives somehow, whether they understand it at a granular level or not. We can tell people about bitcoin’s benefits until we’re exhausted and they’re annoyed. What matters is how they actually experience it. We should stop telling them how great the bitcoin economy is going to be and start showing them. Less theory, more practice.

Think of remote work. In the 1970s, big companies like IBM were merely toying with the idea, experimenting with a few workers at a time. Then technology happened: broadband & WiFi, corporate VPNs, cloud storage, cheap and powerful computers for pockets and desks. And don’t forget all the software: Zoom, Teams, Slack, Meet, SharePoint, etc.

But even just a decade ago, remote work was something many had heard of, but few had tried. It was growing at just a few percent per year. Enter COVID. Rates doubled, then tripled. Now 67% of us techies work mostly or entirely from home.

Yes, COVID was a shock, but pandemics are nothing new. The last one revolutionized the geography of work because of the tech. The technology had become really useful, and the pandemic just gave us the occasion to realize it. Would the revolution in remote work have happened eventually without the pandemic? Almost certainly, if not as fast. Would it have happened eventually without the technology? The question doesn’t even make sense because the technology defines how we even think about “remote work.”

Useful technology changes behavior, habits, and society. Sometimes radically.

We bitcoiners need to learn, internalize, and remember this lesson. The orange pills have stopped working, at least at our current scale. Experiences are what change people’s minds, and we build those experiences with technology, not conferences. As soon as we start delivering experiences that surpass anything fiat can do, people will adopt bitcoin automatically. Until we start delivering such services, no amount of books and blogs will change their minds or habits.

Where to Start

So if the key is to improve people’s lives, whose lives are we talking about? There’s a big difference between a corner store in Hyderabad and outdoorsy Canadians. Different interests, different needs.

Think about the revolutionary technologies of recent decades: the television, the PC, the internet, the smartphone, Facebook, AI. They all took root in the same demographic: people with disposable income in developed countries. Facebook took this approach to the extreme by first opening only to students attending elite Western universities. And now it’s your aunt’s favorite technology. Another lesson.

So the way forward is to leverage bitcoin’s strengths as a borderless, open, censorship resistant, and — most importantly — P2P currency in order to improve the lives of affluent people with money to spend. Give them better ways to transact directly with each other.

In practice, this will often mean adding bitcoin to apps they use anyway. It might also mean disintermediating services they’re already using. Like connecting gig drivers to passengers directly without Uber taking its cut. Like connecting artists directly to fans without Spotify and the record companies taking their cut. Like paying Dashers directly without DoorDash taking its cut.

The winning formula is to insert our tech into an existing, suboptimal user experience, just like the iPhone did with the digital camera. Utility improves the UX, and the UX drives adoption. The incumbents’ margin is our opportunity. This is the essence of disruption.

Let me also clarify that better gadgets for affluent Westerners are not more important than giving people in developing countries access to modern financial services and shelter from their governments’ corruption. That’s vital too. It’s just that affluent Westerners are a more effective way to move the market and propagate the technology. They’re the gateway drug, the beachhead to mainstream adoption. But yes, changing the whole world and improving the lives of everyone in it with bitcoin remains the ultimate goal.

Utility > Education

Education is important for people who need the inside-baseball-level information — entrepreneurs, engineers, investors, etc. It’s usually easier to improve a thing if you understand how it works than through random trial and error.

To just use a thing, though, all you need to know is how, not why. Dozens of animal species use tools to make their lives better. A few of them might have a vague idea of the tools’ operating principles — thick stick = strong and rigid; thin stick = light and flexible — and that’s enough. All of us use countless technologies already without understanding them, simply because we like the experience.

We don’t really have to conduct much research about how to improve people’s experiences with bitcoin. It’s easy to find which apps are most popular. Many, if not most, if not all of them could be improved with borderless P2P payments, right? That’s the whole idea, right? So let’s add our borderless P2P payments to them or rebuild them with our tech. If we do it right, and bitcoin really is better (which of course it is), then we won’t have to convince people anymore. They’ll just adopt it and convince each other.

@ dfe02069:d3e2fa29

_Ich hatte Ihnen vor einiger Zeit die Frage gestellt, wie man andere Menschen zum Aufwachen bringt und welche Rolle Mut dabei spielt. Gerne können Sie mir weiter Ihre Einschätzung dazu senden: kontakt@idw-europe.org! _

Einen hohen Anteil an meinem eigenen Aufwachensprozess hatte (neben ein paar Gramm feinstes “Jack Herer” Indoor) der Psychologe Professor Rainer Mausfeld, dessen Vortrag “Warum schweigen die Lämmer?”ich ca. 2016 gesehen habe und der mein Weltbild in Sachen Demokratie so gründlich durcheinander gebracht hatte, dass mich mein Weg letztlich aus dem Mainstream herausführte. Das System fing an mich auszuscheiden, erst langsam, dann brüsk. Auch das Gespräch mit Ken Jebsen ist sehr sehenswert. Sein neuestes Buch kann man als kulturanthropologische Untermauerung seiner Thesen aus dem Vortrag lesen. Es ist keine leichte Kost, aber man bekommt einen Perspektivwechsel mit, den man so leicht nicht widerlegen kann. Kann ein Autor mehr erreichen? Hier noch ein weiterer neuerer Vortrag, mit vielen weiterführenden Gedanken:

Wenn Kommunismus, wie Brecht mal sagte, „das einfache ist, das schwer zu machen ist“, was ist dann die Demokratie? Mit Mausfeld müsste man sagen: Es ist das schwierige, das sich zudem nur im Ausnahmefall einstellt, aber für das es immer wieder zu kämpfen lohnt. Und zwar selbst dann, wenn kaum mehr Hoffnung besteht.

Man hatte seit den 90-er Jahren viel vom „Ende der Geschichte“ gehört, dem finalen Sieg der Demokratie über alle andere Systeme. Tatsächlich war das ein Pyrrhus-Sieg. Mausfeld, ein Kieler Kognitionspsychologe, der durch zeitkritische Vorträge wie „Warum schweigen die Lämmer“ Bekanntheit erlangte, setzt dem Ende der Geschichte eine Kulturanalyse der Demokratie entgegen, die sich am Thema der Entartung von Macht orientiert. Er streift dabei auch Stammes- und Herdenstrukturen, die Herrschaftsstrukturen von Ägyptern, Römern, Griechen bis zur korporatistischen Demokratie heute. Im Kern geht es um die Frage, unter welchen Umständen echte Demokratie gelingen kann und wie sie die Zeit überlebt.

Demokratie wird schnell zur Farce, weil ihr aus dem Innern selbst ein Ungemach droht, welches ihr Ideal letztlich zerstört. Es wohnt der Demokratie sozusagen eine irreparable Unwucht inne. Diese besteht darin, dass eine formelle Gleichwertigkeit der Stimme (one man one vote) stets mit der Ungleichheit der Mittel kollidiert, mit der sich Reichere letztlich Stimmen kaufen – oder Abstimmungen anderweitig beeinflussen können. Die Demokratie scheitert damit immer an der tatsächlichen Macht und die ist im Kapitalismus eine ökonomische, auf wenige konzentrierte Macht. Mausfeld schlägt viele kapitalismuskritische Töne an (die man mögen kann oder auch nicht), seine Kritik steht jedoch in der Denktradition eines Solon, der in der Eunomia-Elegie bereits die pleonexia, das krankhafte „Mehrhabenwollen“ als Grundübel beschreibt. Echte Demokratie ist damit letztlich nur unter Gleichen möglich, ein monetäres Gefälle ist oder wird letztlich immer zu einem Machtgefälle.

Anspruch und Realität der Demokratie heute klaffen bei Mausfeld dementsprechend massiv auseinander. Repräsentativ ist die Demokratie für ihn eher in dem Sinne, dass sie die Interessen der Ober- oder Besitzschicht widerspiegelt. Letztlich bestehen keine wirksamen Schutzplanken, um den demokratischen Prozess von Fremdeinflüssen freizuhalten. Die Demokratie wird zur leichten Beute für alle möglichen Einflüsse, Agenden, Stichwortgeber und Anreiz-Streuer. Am Ende hat eine besitzende Klasse eher ein Interesse daran, die nicht-besitzende Klasse von der Entscheidungsfindung auszuschließen, denn eine Mehrzahl der Habenichtse kann schnell auf die Idee kommen, „ganz demokratisch per Mehrheit“ die Besitzenden zu enteignen. So wird aus dem schleichenden Tod der Demokratie ein langes Überleben als Elitenherrschaft in demokratischer Fassade. Hinzu kommen in der Neuzeit noch alle möglichen Formen von Dissensmanagement, mediale und propagandistische Manipulation sowie Entmutigung des Souveräns, sich überhaupt als souverän zu betrachten.

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_ Wiener aufgepasst: 15.05. Gesprächsaufzeichnung mit Petra Führich (incl. 3-Gänge-Menü). Begrenztes Kartenkontingent._

_ Alle Lesungen immer unter: www.tinyurl.com/Lesung-Matuschek (neue Termine im August in Kürze: Köln, Kassel, Rostock, Kyritz, Berlin…)_

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Mit diesem Buch geht es an Grundfesten: Mausfeld steigt mit „Hybris und Nemesis“ aus dem Schützengraben der zeitgenössischen Demokratiekritik und stützt seine Analyse auf die Konstanten der menschlichen Psychologie und Anthropologie im Lichte der Geschichte. Man erwarte mit diesem Buch keinen schmissigen zeitgenössischen Essay, sondern eher eine gelehrte, kulturhistorische Abhandlung in Anlehnung an die fünftausendjährige Geschichte der Schulden eines David Graeber. Diese allerdings kann man an beliebigen Stellen aufschlagen und erfährt dann nicht nur Erhellendes (und Schonungsloses) über den Zustand der Demokratie, sondern auch zeitlos Gültiges über die Natur des Menschen. Denn letztlich kann keine Ordnung aus dem Menschen, wie er ist, etwas anderes machen. Auch jede sozialistische Neuordnung scheitert daran immer wieder. Jedes System hängt an der Natur des Menschen und damit in der Haut fest, aus der niemand rauskann: unserer eigenen.

So stellt sich am Ende die Frage: Kann man die Demokratie ändern, ohne den Menschen zu ändern? Und würde letzteres überhaupt Sinn machen?

Rainer Mausfeld, Hybris und Nemesis. Wie uns die Entzivilisierung von Macht in den Abgrund führt – Einsichten aus 5000 Jahren. Westend-Verlag 2023 510 S., 36 Euro/51.90 SFr. Die Rezension erschien auch in der Weltwoche.

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Aktion: Die Aufarbeitungsinitiative “Gretchen entschwärzt” läuft! Zeit, dass die Opfer der Pandemie zu Wort kommen, egal ob Geimpfte oder Ungeimpfte. Sie wollen Ihre Geschichte von Corona erzählen weil sie exemplarisch oder besonders ist? Melden Sie sich bei gretchenschindler@proton.me. Mehr dazu im letzten Beitrag.

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Mein aktuelles Buch “Stromaufwärts zur Quelle” finden Sie zum Beispiel hier.

_ Meine Arbeit ist nur durch Ihre Unterstützung möglich. Vielen Dank im Voraus! _

Der Preis für ein Abonnement beträgt 77 Euro pro Jahr oder 7 Euro pro Monat.

• Paypal (Senden drücken), bitte Mailadresse nicht vergessen!

• _ Besonderes Ewigkeits-Angebot: Ein Jahresabo in Lightning/Bitcoin zahlen Sie immer nur einmal, den Rest zahlt Bitcoin. ( 1x zahlen, für immer lesen ). Mailadresse nicht vergessen!_

- Weitere Möglichkeiten auf Nachfrage (Überweisung; Achtung: neue Bankverbindung in der Schweiz)

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@ 702987f5:c99ee290

The World of Cryptocurrencies: Inscriptions and BRC-20 Tokens

Introduction

The world of cryptocurrencies has witnessed a surge in interest in inscriptions, particularly those represented by BRC-20 tokens. This article aims to provide an intro-level understanding of inscriptions, exploring their value proposition, market dynamics, and potential for growth and collapse.

What are Inscriptions?

Inscriptions refer to digital assets created by embedding information on the Bitcoin blockchain or other blockchains. These assets can take various forms, including fungible tokens like BRC-20 tokens and non-fungible tokens (NFTs).

The emergence of inscriptions is attributed to the Taproot upgrade, which enhanced the data storage capabilities of the Bitcoin blockchain. This upgrade enabled the creation of inscriptions without the need for smart contracts, as seen in Ethereum-based assets.

The Value Proposition of BRC-20 Tokens

The value proposition of BRC-20 tokens lies in several key aspects:

• Fair Launch Mechanism: BRC-20 tokens often employ a fair distribution approach, avoiding the preferential treatment of venture capitalists and early investors.
• Simple Protocol Format: The BRC-20 protocol is straightforward and focused, minimizing the risks associated with smart contracts.
• Expansion of Bitcoin's Capabilities: Inscriptions introduce new asset classes to the Bitcoin network, potentially leading to increased network fees and long-term sustainability.

BRC-20 Tokens as a Business Innovation

The question of whether BRC-20 tokens represent a promising business innovation is multifaceted. While they have generated revenue for trading platforms, speculators, and Bitcoin miners, their broader contribution to commercial value remains questionable.

BRC-20 tokens can be seen as a new category of Memecoins, which are essentially speculative assets that thrive on gambling and greed. Their appeal lies in the possibility of rapid wealth accumulation, often fueled by biased public perception and the law of large numbers.

The Mechanism Logic and Driving Forces

The rapid rise of BRC-20 tokens can be attributed to several factors:

• OTC Trading: The use of OTC order matching for BRC-20 tokens, compared to AMM DEX or CEX environments, requires less capital to influence prices, leading to more pronounced price surges.
• Lack of Short-Selling Mechanisms: The absence of short-selling tools like perpetual contracts further contributes to upward price movements.
• Participation of "Dama-Type" Investors: The involvement of novice investors, often influenced by community leaders and grassroots marketing, reduces short-term selling pressure and contributes to price stability.
• Enhanced User Experience: The user-friendly infrastructure provided by wallets like OKX Wallet has facilitated the entry of new investors into the BRC-20 market.

The Next Stage of the BRC-20 Market

The future of BRC-20 tokens could involve:

• Expansion by Secondary CEXs: The continued listing of inscription tokens beyond the likes of $ORDI and $SATS could be a significant catalyst. Such expansion would not only elevate the status of other Memecoins but also potentially draw traditional crypto investors into the speculative orbit of BRC-20 tokens.
• Involvement of Leading CEXs like Binance: Their listing of a broader range of inscription tokens could channel substantial mainstream crypto funds into the BRC-20 ecosystem.
• Rent: BRC-20 $RNT is a token used for renting digital assets on the Bitcoin blockchain. $RNT allows landlords to accept Bitcoin as rent more easily than the traditional method along with less middleman fees. This opens up new possibilities for monetizing digital assets and could potentially drive demand for BRC-20 tokens.
• Innovations Beyond Pure Memecoins: The introduction of BRC-20 Memecoins will evolve into creative ways to brand use cases to accept Bitcoin in the form of Sats, the smallest form of Bitcoin.
• Technological Developments: Ongoing developments in blockchain technology, such as the Lightning Network and cross-chain interoperability, could potentially impact the adoption and use cases of BRC-20 tokens. These developments could open up new avenues for growth and innovation in the inscription market.

Potential Collapse of the Inscription Market

The BRC-20 market faces several risks that could lead to a collapse:

• Prevalence of Short-Lived Rug-Pull Projects: The intense competition among BRC-20 projects can lead to market makers exiting their positions early, narrowing the window for speculative gains.
• Slowed User Acquisition: CEXs may become hesitant to list new BRC-20 tokens, hindering the inflow of new users and capital.
• Transition of Liquidity Battleground to CEXs: The shift of liquidity to CEXs introduces deeper market liquidity and short-selling tools, potentially diminishing the wealth effect.

BRC-20 Digital Real Estate

As part of my mission to educate and create a solution for the commercial real estate (CRE) and real estate industry, I developed TOKENOPOLY, a game designed to explain the concept of tokenizing real estate in a fun and engaging way that resonates with Gen-Z and Gen-Tech audiences. We're partnering with the most prominent hip-hop lyricist to gamify the explanation of this advanced tech with lyrics the masses will understand and remember. TOKENOPOLY will be the #1 blockchain game played online and IRL [IN REAL LIFE]. Rapper Fabolous explains as a meme this MLK Drive LNE is a 1-of-1.

LUV NFT: Blockchain Partnership with What3Words

LUV NFT is a blockchain-based project that partners with What3Words, a company that converts traditional addresses around the world into simple and unique three-word addresses. This partnership enables the tokenization of What3Words locations as What3Bars, also known as W3Bars.

The First Bitcoin NFT W3Bars

The first Bitcoin NFT W3Bars ///beats.lobster.suckle LNE [LUV NFT ESTATE] tokenized is tethered to a physical twin, which is mapped to the Los Angeles home of Jay-Z, a renowned advocate for teaching financial literacy and promoting Bitcoin's original purpose.

The primary objective of this initiative is to educate and empower individuals, particularly those who need Bitcoin, about the transformative potential of blockchain technology and its applications in the real estate industry.

Conclusion

Inscriptions, particularly BRC-20 tokens, have emerged as a fascinating experiment in the cryptocurrency industry. Their value proposition is primarily speculative, driven by the allure of quick wealth generation. While they have generated revenue for certain stakeholders, their broader contribution to commercial value remains questionable. The future of BRC-20 tokens is uncertain, with the potential for further growth or a collapse depending on various factors.

Visit https://www.luvnft.com/ and join the NFTV Discord to Bitcoin channel to buy and sell BRC20s.

@ c11cf5f8:4928464d

Wrangle up your latest tech discoveries, reviews, and recommendations. Let's hear all about your favorite tech products, services, or projects!

Feel free to share any new tech you've heard about, bought for yourself, or technology that you just think other stackers should know about. Found any gadgets or gizmos that blew your mind? Don't be shy—share the pros and cons and help your fellow stackers in the ~AGORA stay ahead of the tech curve!

Send your best 👇

@ 57d1a264:69f1fee1

Prompt: Agree to Terms ===============

Almost every app or website has legal terms. Signing up for a new product will generally require that users agree to the Terms of Service.

It's not glamorous, but it's important. :)

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Flex your design muscles and join in. Most of all, keep this exercise loose and keep it stress-free. The FUC is about growing our design skills, together, as a community. We can't wait to see what you create!

Happy designing, Stackers!

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Share Your Results When you finish the challenge, post your work on this thread! If you also share it on nostr, be sure to use the hashtag #FUCdesiger and tag Design_r@iris.to or @Design__r on X! We'll keep an eye out and repost good examples on a regular basis.

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Curious to know WTF is a FUC? Read the ⚡️Flash Ui Challenges welcoming post.

Looking for more FUCs? Check the archive here!

@ 86cc0482:9f9cd3d5

Whirlpool: Samourai Wallet CoinJoin Implementation

Part 2: PreMix, PostMix Stages

Further clarification:

• Some Whirlpool coinjoins typically select 2 fresh inputs from Tx0s and 3 already mixed inputs from previous coinjoins

• The fresh inputs from Tx0 are responsible for paying the fees.

• Inputs that have been previously mixed receive unlimited free remixes.

• Example (check the link): Two fresh inputs are 0.05014520 BTC; the other inputs are exactly 0.05 BTC.

https://mempool.space/tx/8074db130c8f141b652b12138e46b87fa6cfdccf914d29303ce07f8844a5d0b3

Next posts: Part3: ReMix Stage Part4: Anonymity Sets Part5: XPUB and Blinding Issues

#Bitcoin

@ 81870f53:29bef6a6

過去 1 年間の半導体市場の勝者について考えるとき、最初に思い浮かぶのは$NVIDIA (NVDA.US)$この方法で製品を販売するか、または$Broadcom (AVGO.US)$設計が販売されているかのどちらかです。この方法では、せいぜい$Taiwan Semiconductor (TSM.US)$を加えたファウンドリです。

読者の皆さんもこの 3 社はご存知かと思いますが、その強力な技術力と充実したエコシステムにより、AI で飾り立てようとする他の企業とは異なり、大きな勝者となっているようです。家に座ってお金が家に届くのを待っていると、人々はうらやましく感じます。

これらの巨大企業の背後には、半導体装置・材料業界、特に生産を担うウェハーファウンドリからの支援が不可欠であり、TSMCの業績が着実に向上する中、それに協力してきた上流メーカーもまた喜びを開花させている。最も恩恵を受けているのは、機器や材料で常に有名な日本のメーカーです。

2022 年、売上高トップ 10 に日本企業 4 社がランクインしました。これら 4 社は、第 4 位の$東京エレクトロン(8035.JP)$、第 6 位の$アドバンテスト(6857.JP)$です。 7 位$Screen Holdings (7735.JP)$と 9 位$国際電気 (6525.JP)$、$Hitachi (6501.JP)$、$Nikon (7731.JP)$、$Canon (7751 ) .JP)$同社もこれに追随したため、日本のメディアや政府は「日本製の半導体装置がなければ半導体は製造できない」と発言している。

半導体材料に関しても、日本は非常に大きなシェアを占めています。Omdia のデータによると、2022 年には日本の半導体材料が世界シェアの 48% を占め、例えば EUV フォトレジストなどの主要な材料はさらに大きなシェアを占めます。 7nm以下のチップの製造に使用される主要材料であり、この分野では日本がほぼ100%を占めており、ARFフォトレジストは130nmから7nmプロセスのチップ製造に使用されており、日本もシェアの87%を占めている。

AIブームで半導体産業が前進する中、日本の有名メーカーの一部が巨額の利益を上げている一方、日本の中小メーカーも独自のチャンスを得て巨万の富を築き始めている。 。

半導体デバイスの勝者 1979 年に京都市郊外に設立された$Towa (6315.JP)$ 40 年以上の歴史があり、画期的なチップ封止技術の開発により、株価はこの 1 年でほぼ 4 倍に上昇しましたシリコンウエハへのトランジスタの多孔化のコストが上昇する中、TOWAが気泡を発生させずに細線用の真空シールを製造する技術は現在重要な技術となっています。

調査会社TechInsightsのデータによると、TOWAは世界のチップモールディング（チップモールディング）装置市場の3分の2を占めており、これはチップやワイヤーを樹脂で包み、埃や湿気、衝撃から守るための重要なステップだ。安全に積み重ねることができるため、Nvidia GPU が人工知能をより適切にトレーニングできるようになります。

現在、市場最大のメモリメーカーであるSK Hynix、$Samsung Electronics Co., Ltd. (SSNLF.US)$、$Micron Technology (MU.US)$ は、いずれも TOWA のチップ成形装置を購入しているとの統計があります。昨夏以来、ＳＫハイニックスとサムスンは１台約３億円（２００万米ドル）の東和機計２２台を発注しており、中には粗利益率が５０％を超えるものもある。

TOWAの岡田博一社長はインタビューで「当社の顧客は、特に生成人工知能向けのハイエンドチップは当社の技術なしには生産できないと言っている」と述べ、同社がほぼ100％の市場シェアを握っていることも明らかにした。ハイエンドチップ成形機でシェアを獲得。

岡田氏はインタビューで、同社は成形コストを半分にし、加工速度を2倍にすることを目的とした次の製品を準備中であると主張し、新しい機械の開発はほぼ完了しており、顧客はすぐにその製品をテストできるだろうと述べた。この装置の大規模生産は 2028 年に開始される予定です。

オカダ氏は、「競争するために価格を引き下げなければならない市場には興味がない。価格を相殺できるほどの技術の成果が得られることを望んでいた」と語った。

報道によると、トーワはチップモールドを樹脂に浸す技術で特許を取得しており、この技術は使用する材料が少なく、チップパッケージが薄く、欠陥が少ないという。

同社の競合他社には、日本の長野市に本社を置く$ヤマダ(6392.JP)$やシンガポールのASMPなどが挙げられるが、トーワはチップモールディングの分野でユニークな企業であり、他社も競合技術の開発を試みていると述べた。 、しかし、Towa は重要な特許と主要顧客との深い関係を持っており、「それらを真似する方法はないようです」と彼は言いました。

実は東和は古くから包装機器の製造を開始していましたが、通常はHBM関連の特定の機械を年間1～2台しか販売していませんでしたが、AIブームの到来によりHBMの需要が年末までに急速に拡大しました。 Nvidia や他のメーカーが H100 や B200 などの GPU を生産し続ける限り、Towa は今年度だけで 20 台以上のマシンを受注しました。特に HBM が将来的に新しい規格を導入した後は、HBM の需要は増加する一方です。 , TOWAの包装機器はさらに人気が高まります。

また、半導体装置の人気により、日本の横浜に本社を置く$Lasertec (6920.JP)$社は 1960 年に東京 ITV Labs として設立され、当初は X 線テレビ カメラを設計、開発していました。同社は医療用途に事業を拡大し、70 年代半ばには半導体産業向けの検査システムを提供するようになりました。80 年代半ばには社名を Lasertec に変更しました。

あまり知られていない企業ですが、Lasertec は今日の半導体業界に不可欠な検査システムを製造しています。このシステムは、EUV 技術を使用して製造されたチップ設計を検証するためのもので、2017 年に初めて発売されてからすぐに TSMC などのファウンドリに選ばれるようになりました。

Lasertec は EUV ベースの運用に基づく検査システムをほぼ独占しており、これはチップブームの中で同社の株価にとって朗報であり、過去 5 年間で Lasertec の株価は 1,500% 以上上昇し、 2022年4月以降、東京証券取引所の金市場のトップとなっている。

台湾の半導体研究会社、JL Advisory Groupの共同創設者であるルーシー・チェン氏は、「LasertecはEUV検査システムの分野で足場を築き、TSMCなどの最先端のファウンドリと提携関係を築いてきた」と自身の経験から述べた。 Lasertec のシステムは競合他社よりも優れています。

レーザーテックは約 20 年前からエクストリーム UV に注力し始め、約 10 年前にリーマンショックで赤字となった同社の業績を立て直すため、2009 年 7 月に就任した岡林里社長は決意した。 「半導体回路は今後も微細化が進み、それを将来の成長につなげる」と考え、「フォトマスク（極端紫外光を用いてウエハ上に回路を焼き付ける際の設計図）」と「マスクブランクス（基板）」の検査装置の開発に着手した。 ) 回路を描画するため)。

レーザーテックは従業員数約400名と小規模な半導体装置会社ですが、大手企業が参入しにくいニッチ（隙間）分野でトップシェアの製品を開発するビジネスモデルです。設計・開発は生産の大部分を外部に委託し、「fab-lite」（ファブライト）モデルを採用 半導体メーカーが極端紫外試験装置の購入を増やす中、レーザーテックは検出感度の向上により新規受注を獲得し続けています。検査時間の短縮につながります。

過去数年間の半導体業界の低迷にもかかわらず、Lasertec の売上高と利益は 2023 年 12 月 31 日までの 6 か月間で大幅に増加し、純売上高は前年同期比 72.4% 増の 950 億円 (6 億 2,800 万米ドル) となりました。純利益は222億円（1億4,700万ドル）となり、前年同期比63.4％増加しました。

レーザーテックは2月の声明で、2024年の市場回復予測は人工知能への旺盛な投資と消費者需要の回復の兆しによると述べた。

ニッチ市場の王者として、レーザーテックは次の収益源も模索しているとのこと。日経の報道によると、レーザーテックは、純度の高い電力の普及に伴い、効率的に電力を管理できるシリコンカーバイド（SiC）ウェハー検査装置に興味を持っているとのこと。電気自動車などの需要拡大が見込まれており、レーザーテックでは今後も本装置の研究開発を強化してまいります。

上記2社の装置メーカーの製品はチップ生産に直接的な役割を果たしているが、一見関係のない分野でも半導体の重要な役割を担うデバイスを生産している企業もあり、間接的に日本のデバイスの影響力を拡大している。

1985年設立$RORZE(6323.JP)$国内ではあまり知られていませんが、ウエハーハンドリングシステムでは世界トップクラスの技術を持っています。

半導体の基礎となるウエハは、さまざまな装置で何百もの工程を経ます。この繰り返しの工程において、ウエハに付着するゴミは大敵であり、ローゼの主力製品は、ウエハやマスクを搬送する自動化システムなどの装置やロボットです。粒子の発生が少なく、伝送中に発生する汚染を最小限に抑えます。

Rorzeは日本で設計、開発、販売を行っており、2021年までの製造は主にベトナムの工場で行われていたが、2022年9月にRorzeは上海の新工場が完成し、また新たに子会社を設立したことを発表した。ローゼ氏は中国の製造事業でこれまでにも継続的な工場建設の恩恵を受けてきたが、AIの普及が続く中、この無名の日本企業は新たな受注を獲得している。

ローゼ社が今年4月に発表した2024年2月期（2023年度）決算概要によると、連結売上高は前年比1.3％減の932億5千万円（会社計画比5.9％増）となった。営業利益は前年同期比8.6％減の241億4千万円（計画比11.7％増）、純利益は108億円減の195億8千万円（計画比24.5％増）となった。

ローゼ社の決算報告によると、半導体業界の設備投資の低迷により減収減益となったものの、売上高は第1四半期（2023年3月～2023年5月）を底に回復傾向にあり、第4四半期（2023年12月～2024年2月）には四半期として過去最高を記録した。

国・地域別売上高比率では、米国（TSMCのアリゾナ工場を含む）が30％で最も高く、次いで中国が28％となり、特に中国が第1四半期を底に急速に回復しトップとなった。米国の対中輸出規制下で、ローゼ社の中国市場への積極的な設備投資は主に中国の半導体企業から来ていると、興味深いことにローゼ社はSEMICON Chinaで多くの問い合わせを受けていると述べた。 2024年は2024年3月に上海で開催され、今後も中国市場での販売が伸びることが予想される。

2025年2月期（2024年度）については、売上高が前期比30％増の1,207億円となり過去最高を更新、営業利益も同31％増の3,160億円になると予想している。半導体関連装置の販売増加などにより円高が見込まれており、今後はベトナムや中国での装置組立工場の増設や大規模な生産体制の確保などにより需要増への対応を強化するとしている。

日本の著名な半導体装置メーカーが脚光を浴びる一方、無名の装置メーカーも誰にも見えない片隅で密かに財を成すべく奮闘している。

半導体材料の勝者 日本の装置について話した後は、ニッチな日本の半導体材料メーカーについて話しましょう。

まず、半導体容器に使用されるシール材について話しましょう。実際、この分野は日本のメーカーの独占分野でもあり、TSMC が使用する大型鋼製貯蔵タンクもすべて、あまり知られていない日本企業$Valqua の協力を得ています。 (7995.JP)$正式にはこの会社は 1927 年に設立され、現在では売上高の約半分が半導体産業によるもので、定置式貯蔵タンクの世界市場の約 30% を占めています。

いちよし経済研究所のアナリスト、大沢光宏氏は、同社は現時点でそのようなタンクの世界最大のサプライヤーであり、一部の小規模な競合他社を圧倒し、世界最大のOEMチップメーカーであるTSMCにほぼすべてのタンクを供給していると述べた。

バルカーの本保義弘社長はインタビューで「分子レベルの不純物は、最先端のチップ製造の歩留まりを大幅に低下させる可能性があるため、薬液タンク全体を使い物にならなくなる可能性がある。当社と化学メーカーは製造を通じてサプライチェーン全体をサポートしている。これらの溶液を超清浄な状態で輸送および保管することは、再現が困難です。」

半導体製造プロセスで使用されるさまざまな化学物質や酸には、汚染物質が含まれていないことが求められます。ウェーハの洗浄に使用される化学物質の純度要件は、地球を周回するのと同等であり、髪の毛の10分の1の幅の塵も見つかりません。ホンボ氏は、これらの厳しい要件が中小企業の業界参入を難しくしており、バルカーのタンクはカスタムメイドで交換が難しい（10年以上使用できる）ため、半導体メーカーはバルカーを選択したと述べた。

標準化されたコンテナの形状やサイズがないため、チップごとに工場のコンテナ (通常は工場ごとに数百個のコンテナ) を受注生産する必要があります。これらのコンテナは最大直径 4 メートル、高さ 9 メートルまであり、バルカーは内部にフッ素樹脂プレートを配置しています。この非弾性で非粘着性のシートを容器の曲面に完璧に貼り付けるには、タンクと機械を接続する配管にもライニングが必要であり、タンクの製造プロセス全体がクリーンな環境で行われます。

現在の主力ウェーハファウンドリであるTSMCにとって、バルカーのシール材とそれを支える貯蔵タンクは生産に不可欠な部品であり、短期的にライバルを見つけるのは難しい。

材料分野では新興企業が後を絶たず、先端半導体材料分野では技術力に優れた先行企業が独占状態にある一方、材料の耐久性などを向上させた後発企業もシェア獲得に努めている。 。

ペリクル保護フィルムの分野では、以前は日本製が中心$三井化学(4183.JP)$ 1984年からこの事業に参入していた三井化学は、独占企業として競合他社に押されて世界シェア1位となった。 2022 $Asahi Kasei (3407.JP)$事業を買収し、同社は最先端の半導体製品市場をほぼ独占した。

そんな中、日本の大手テープ特殊紙メーカー$リンテック(7966.JP)$はここ2年ほどで、半導体製造の後工程でチップ上の電極を保護するための薄膜製品を開発してきました。を使用しないことで温度変化に対する強度（耐久性）が2.5～3倍向上し、半導体製品の長寿命化が期待できます。

報道によると、リンテックは、半導体回路の底板（フォトマスク）を保護する「ペリクル（保護膜）」に使用する新素材を開発したとのこと。ペリクルの役割は、回路描画時に底板に傷やゴミが付着するのを防ぐこと。半導体ウェーハ上に形成するこのプロセスの生産効率を向上させるために不可欠な要素です。

極端紫外線（EUV）露光装置は、幅広の電気的細線を有する半導体製造に使用され、生産効率の向上と微細化を実現するために、光の出力を高め、より高い発熱量を実現する必要があるため、ペリクルの耐熱性が求められます。リンテックでは、高温でも化学変化が起こりにくく強度が低下しにくいカーボンナノチューブ（CNT）を採用することで、ポリシリコンを用いた従来品に比べて耐熱性を約2倍以上に向上させます。 2025年までに量産体制を確立し、周辺材料と合わせて数年以内に300億円の売上高を目指す。

偶然にも、$Ajinomoto(2802.JP)$には、味の素が 1990 年代にグルタミン酸ナトリウムの製造中に生成する化学副産物を使用して製造できることを発見し、独占している ABF 絶縁膜の分野にも挑戦者がいます。同社はその後 30 年間にわたって ABF の供給を管理しました。

日本の材料会社であるAGCは、従来のエポキシ材料を使用しないフィルムを開発しました。絶縁フィルムは、伝送性能を向上させ、通電を容易にするために必要な材料です。通信規格「5G」などの高性能半導体の伝送損失を低減でき、顧客企業と協議を進め、2026～27年ごろの実用化を目指す。

米国化学大手ダウ（DOW）とドイツ日用品大手ヘンケル（ヘンケル）は、半導体部品の保護材分野で独占を達成しており、液体保護材に注力しているが、日本の東洋インキSCホールディングスも保護材を投入している。材料を薄膜にして材料巨人に対抗する。

報道によると、東洋インキはこれまで蓄積してきた技術を活かし、携帯電話のヒンジ部分のフィルムを折り曲げて電磁波の漏洩を防ぐ加工をする際に必要としている。基板全体をコーティングし、フィルムであれば各部品を保護できる。2024年には米国の半導体メーカーでの採用が見込まれ、2026年には20億円の売上を目指す。

日本の半導体材料というとフォトレジストがよく挙げられますが、挙げられていない分野でもニッチ企業が台頭しています。

最後に書いてください 上記のメーカーは日本の半導体装置材料分野では氷山の一角であり、最大手でも年商1,000億円程度にとどまるが、非常に競争力のある製品を世に送り出している。それぞれの分野で独占を実現している企業もある

これらの日本企業にとって、規模と規模は障害ではなく、それを利用して専門分野で優れているのかもしれません。

この記事がお役に立てば幸いです。 もしそうなら、チップをおくるどうぞ https://getalby.com/p/bitcap

@ 3eab247c:1d80aeed

Written by Igor Bubelov.

New Feature: Data Bundling

It’s hard not think about building resilient software in the light of the recent events, that’s why we decided to include the most recent data snapshots with every new BTC Map release. In short, if our servers go down, for whatever reason, you won’t be affected. It’s also impossible to censor us via Google Play, since the app is available on F-Droid, GitHub, and it can also be built from the source.

Data bundling also speeds up the initial sync by an order of magnitude!

New Feature: Companion App Warnings

You only need a Lightning wallet in order to pay to the vast majority of our merchants, but there are two exceptions:

• Czech Republic (Qerko restaurants)
• South Africa (Pick n Pay supermarkets)

Some of the places do require a third party companion app in order to generate BOLT 11 invoices, so you need to install those apps if you want to pay with bitcoins. Usually, we don’t tolerate that, but perfect is the enemy of good, and we decided to accept them on the following conditions:

The app should generate a real Lightning invoice, payable with any LN wallet of user’s choice. KYC is not acceptable under any circumstances. Those places didn’t have proper warnings, so I fixed it in the latest release:

https://bubelov.com/blog/2024/05/btcmap/warning_hu59a897ccf971a4f3b39fa1d6f547d4a6_1094407_1700x0_resize_q95_h2_box_3.webp

New Feature: Navigate to Merchant

Building routes is hard, that’s why we aren’t doing it. You need to know a lot of things, including traffic jams, accidents, planned roadworks and so on. I know it well because I used to work for a taxi company which operated in London. Still, many users want to be able to quickly navigate to a selected merchant, so I decided to delegate this task to an external app. Most of the solutions on StackOverflow were dependent on Google Maps, but there was an interesting solution which seems universal. It appears to be working, but we’ll need more testing and user feedback to confirm that.

New Feature: Sharing Merchants

I don’t know why I waited so long, but it seems to be a must-have feature. As a power user, you don’t really miss it, since you can always open a place on OSM and see the nifty-gritty details, but it’s not a good way of sharing a bitcoin-accepting place with your friends.

Key Metrics

https://bubelov.com/blog/2024/05/btcmap/verified_hua424b04f202a6b71f3d29c3b9ee8c8e7_68105_1700x0_resize_q95_h2_box_3.webp

The number of verified merchants has increased by 41, half of the last week’s number. Most locations were verified by @Rockedf and the local mappers.

Here are the top 5 countries by the number of new merchants: * Brazil * Spain * Germany * Czech Republic * The Netherlands

https://bubelov.com/blog/2024/05/btcmap/total_hu4990ea6cbcab7a6e2e8b6fca7793fd75_65718_1700x0_resize_q95_h2_box_3.webp

The total number of merchants has increased by 8, which is unusually small. The main reason is Boracay data cleanup which was done by a Pouch team. They had many outdated merchants so their removal boosted our signal-to-noise ratio in that region.

https://bubelov.com/blog/2024/05/btcmap/days-since-verified_hu7206d0e58eb16d8289ccd9b2b0fddb6c_71870_1700x0_resize_q95_h2_box_3.webp

The average number of days since the last verification didn’t change, which means that our data is as reliable as it was a week ago. I expected a decline since I didn’t do any mapping, but it looks like the locals are finally starting to maintain their own data, which reduces our dependency on remote edits done by a few of our team members.

What’s Next: Syncing in Adverse Conditions

Next week, I want to focus on our server software and infrastructure. The main goal is to release a v3 API, which is supposed to improve sync speed and lower the bandwidth requirements. Users like snappy software, but the real driving factor is the ability to make our API usable via TOR and other privacy preserving overlay networks. Even a normal VPN can slow down your network connection to the point where every byte counts, so it makes sense to make our API as lightweight as possible.

@ 81870f53:29bef6a6

マスク氏は投資パートナーを探しているバフェット氏に、 $Tesla(TSLA.US)$の株を買うというアイデアを思いついた。

バークシャー・ハサウェイの年次株主総会後、現地時間土曜夕方、マスク氏はXについて「バフェット氏はテスラに関してポジションをオープンすべきだ。当然そうすべきだ」と書いた。

バークシャーの株主総会ではテスラと電気自動車について議論されたが、バフェット氏にはこの業界に投資する準備ができていないようだ。

テスラのポジションを開く可能性について尋ねられたとき、93歳のバフェット氏は次のように語った。 』……当選者が出たら嬉しいです。

バフェット氏も過去に米国の自動車産業について同様のコメントをしており、バークシャーが中国の電気自動車メーカーであるBYDの株式を保有していることは多くはあるが、例外もある。 2008 年に初めて実施されたこの投資の収益は、ここ数年で一部の株式を売却しました。

バークシャーはマスク氏のツイートに対するコメント要請にすぐには応じなかった。

バークシャーは、米国の州間高速道路沿いでガソリンとディーゼルを販売する旅行サービス会社パイロットを所有しているが、バフェット氏は電気自動車がもたらす脅威を懸念していないようで、パイロットは消費者の燃料の好みの変化に適応できると指摘した。

バークシャーの株主総会では、テスラについて別の言い方で言及された株主もおり、バークシャーの子会社であるガイコは自動車保険業界にとってどのような意味を持つのかを尋ねた。

バフェット氏はまた、「事故を減らすことはコストを削減することになる」と述べ、事故を減らして自動運転車を開発することは人々が思っているよりはるかに難しいと指摘し、「事故が50％減少すれば、それは社会にとっては良いことだが、保険にとっては悪いことだ」と語った。企業は...しかし、社会にとって良いことこそが私たちが求めているものなのです。」

バークシャーの保険事業責任者であるアジット・ジェイン氏も、自動車保険市場は基本的に事故件数と車の修理費用であると指摘し、「各事故の修理費用は劇的に上昇している」と述べました。時間の経過とともに、自動車はより安全になり、より複雑になってきましたが、自動車保険市場は今後も成長する可能性があります。

バークシャーがテスラに対してポジションをオープンすれば、間違いなく同社の株価は上昇するだろうが、投資家は過度な期待をすべきではない。

月曜日、テスラは２％上昇して１８４．８７６ドルとなり、Ｓ＆Ｐ５００指数とナスダック総合指数はそれぞれ１％、１．２％上昇した。

バークシャーはテスラの株価上昇の最大の要因ではなく、同社の製品ラインアップがおそらく株価上昇の主な理由である。 1 回の充電で 320 マイル走行できるリモート バージョンの価格は約 45,000 ドル、標準バージョンは約 43,000 ドルです。

航続距離が長いことはより魅力的であり、1回の充電で300マイル以上の航続距離を誇るモデルYは新しいもので、リモート全輪駆動を備えたモデルYの価格は約4万8000ドルからとなっている。

マスク氏はまた、ソフトウェアアップデートを通じて一部のモデルYがより長い航続可能距離を確保できると述べた記事をXに投稿したが、これも投資家にとっては予想外の驚きだった。

(マスク氏は先週末、Xに数回投稿した。先週土曜日の別のツイートでは、先週月曜日の北京時間午前9時に仕事を始め、テキサス州オースティンで午前2時まで働いたと述べた。つまり、約28時間働き続けたことになる。)

月曜日の時点で、テスラの株価は年初から約26％下落し、S＆P500種指数を約34％ポイント上回っているが、現在株価は4月22日に付けた52週間ぶりの安値から30％反発している。

この記事がお役に立てば幸いです。 もしそうなら、チップをおくるどうぞ https://getalby.com/p/bitcap

@ 419472a0:29346607

Written by Igor Bubelov.

New Feature: Data Bundling

It’s hard not think about building resilient software in the light of the recent events, that’s why we decided to include the most recent data snapshots with every new BTC Map release. In short, if our servers go down, for whatever reason, you won’t be affected. It’s also impossible to censor us via Google Play, since the app is available on F-Droid, GitHub, and it can also be built from the source.

Data bundling also speeds up the initial sync by an order of magnitude!

New Feature: Companion App Warnings

You only need a Lightning wallet in order to pay to the vast majority of our merchants, but there are two exceptions:

• Czech Republic (Qerko restaurants)
• South Africa (Pick n Pay supermarkets)

Some of the places do require a third party companion app in order to generate BOLT 11 invoices, so you need to install those apps if you want to pay with bitcoins. Usually, we don’t tolerate that, but perfect is the enemy of good, and we decided to accept them on the following conditions:

The app should generate a real Lightning invoice, payable with any LN wallet of user’s choice. KYC is not acceptable under any circumstances. Those places didn’t have proper warnings, so I fixed it in the latest release:

https://bubelov.com/blog/2024/05/btcmap/warning_hu59a897ccf971a4f3b39fa1d6f547d4a6_1094407_1700x0_resize_q95_h2_box_3.webp

New Feature: Navigate to Merchant

Building routes is hard, that’s why we aren’t doing it. You need to know a lot of things, including traffic jams, accidents, planned roadworks and so on. I know it well because I used to work for a taxi company which operated in London. Still, many users want to be able to quickly navigate to a selected merchant, so I decided to delegate this task to an external app. Most of the solutions on StackOverflow were dependent on Google Maps, but there was an interesting solution which seems universal. It appears to be working, but we’ll need more testing and user feedback to confirm that.

New Feature: Sharing Merchants

I don’t know why I waited so long, but it seems to be a must-have feature. As a power user, you don’t really miss it, since you can always open a place on OSM and see the nifty-gritty details, but it’s not a good way of sharing a bitcoin-accepting place with your friends.

Key Metrics

https://bubelov.com/blog/2024/05/btcmap/verified_hua424b04f202a6b71f3d29c3b9ee8c8e7_68105_1700x0_resize_q95_h2_box_3.webp

The number of verified merchants has increased by 41, half of the last week’s number. Most locations were verified by @Rockedf and the local mappers.

Here are the top 5 countries by the number of new merchants: * Brazil * Spain * Germany * Czech Republic * The Netherlands

https://bubelov.com/blog/2024/05/btcmap/total_hu4990ea6cbcab7a6e2e8b6fca7793fd75_65718_1700x0_resize_q95_h2_box_3.webp

The total number of merchants has increased by 8, which is unusually small. The main reason is Boracay data cleanup which was done by a Pouch team. They had many outdated merchants so their removal boosted our signal-to-noise ratio in that region.

https://bubelov.com/blog/2024/05/btcmap/days-since-verified_hu7206d0e58eb16d8289ccd9b2b0fddb6c_71870_1700x0_resize_q95_h2_box_3.webp

The average number of days since the last verification didn’t change, which means that our data is as reliable as it was a week ago. I expected a decline since I didn’t do any mapping, but it looks like the locals are finally starting to maintain their own data, which reduces our dependency on remote edits done by a few of our team members.

What’s Next: Syncing in Adverse Conditions

Next week, I want to focus on our server software and infrastructure. The main goal is to release a v3 API, which is supposed to improve sync speed and lower the bandwidth requirements. Users like snappy software, but the real driving factor is the ability to make our API usable via TOR and other privacy preserving overlay networks. Even a normal VPN can slow down your network connection to the point where every byte counts, so it makes sense to make our API as lightweight as possible.

@ af52cf04:28604216

What is up my homeys

@ 81870f53:29bef6a6

今週末オマハで開催される株主総会は、昨年マンガー氏が亡くなった後、世界の資本市場の盛衰を目撃できるのは94歳のバフェット氏だけとなった。

2024年の年次株主総会でのバフェット氏のコメントと彼の投資旗艦$バークシャー・ハサウェイ-A(BRK.A.US)$ / $バークシャー・ハサウェイ-B(BRK.B.US)$を組み合わせた結果、財華ニュースは以下のようにまとめた。バフェット大統領政権下のバークシャーの投資特徴は次のとおりです。

利益より安全 過去1年間で最も株価のパフォーマンスが良かったのはAIコアコンセプト$NVIDIA(NVDA.US)$だったが、2023年末のバークシャーの米国株保有状況から判断すると、再び株価の面でそれを下回ったことは間違いない。さらに、AI の先駆者$Microsoft(MSFT.US)$も繰り返し高い時価総額水準を更新し、$Apple(AAPL.US)$を上回り、世界で最も高い時価総額を誇る上場企業。

世界で最高の長期投資パフォーマンスを誇る投資会社であるバークシャーが、このAI利得の波についていけていない主な理由は、バフェット氏がアップルの発展見通しに自信を持っていることに加え、次のような理由があるとカイファ氏は考えている。 Apple のコストは保有価値よりもはるかに低いため、Apple の「現金中立」政策はより多くの財源を株主に還元し、長期的には株主に価値をもたらします。したがって、バークシャーは Apple の投資に対して非常に厚い「安全クッション」を持っています。公正価値と投資コストの間。

以下の表に示すように、2024 年 3 月末時点のバークシャーの株式投資を例に挙げます。その公正価値はコストをはるかに上回っており、純未実現利益はコストの 2 倍を超えています。

バークシャーの安全性追求のもう一つの兆候は、$Occidental Petroleum (OXY.US)$への投資による慎重さです。たとえば、一見、バフェット氏は石油化学エネルギーの将来について楽観的であり、多額の投資を行っているように見えます。それを行う方法があります。

バークシャーは2022年にオクシデンタル・ペトロリアムの普通株式の購入を開始した。現在までにオクシデンタル・ペトロリアムの普通株式持分は28.2％に達しており、オクシデンタル・ペトロリアムの時価総額570億7,900万米ドルに基づくと、保有株式の市場価値は約米国ドルに相当する。オクシデンタル・ペトロリアムは2022年、2023年、2024年の第1四半期にそれぞれ2,400万米ドル、1億4,200万米ドル、4,100万米ドルの配当を支払ったことに留意すべきである。米ドル、これは現在のポジションの市場価値の 0.36% に相当します。

それ以上に、2022年初めのオクシデンタルの株価はわずか27.53ドルだった。この時期の原油価格の高騰、バフェット氏の富の継続的増加、そして彼自身のファンダメンタルズは現在、オクシデンタル株の検証に耐えている。 2022年初めの2.34倍となる64.39ドルまで高騰した。

これはバークシャーによるオクシデンタル・ペトロリアムへの普通株式投資にすぎない。

バークシャーはすでに2019年に100億ドルを投資してオクシデンタル・ペトロリアムの議決権のない累積永久優先株を購入しており、オクシデンタル・ペトロリアムの普通株式オプションは2029年から8％の年間配当率で償還を選択できる。償還価格は清算価値の 105% に累積未払い配当金を加えたものです。

言い換えれば、オクシデンタル優先株を 100 億米ドル保有することで、バークシャーは普通株式よりも優先して年間 8 億米ドルの配当を受け取ることができます。つまり、オクシデンタル・ペトロリアムが年間純利益を優先株主に分配した後、残りの株式のみを配布できます。

過去数年間、オクシデンタル・ペトロリアムはこの一連の優先株の償還を続けてきたが、2024年3月末までにオクシデンタル・ペトロリアムは2029年までに5％のプレミアムを付けて償還される予定である。このリターンは比較的安定しており、バークシャーのリターンを確保するのに安全である。さらに、優先株の償還後にのみ行使できる普通株式オプションも付いており、行使価格の59.62ドルはオクシデンタル・ペトロリアムの現在の価格64.39ドルよりも7.41％安い。バークシャーが今権利を行使すれば、税引前利益の７％以上を得ることができる。

バークシャーの巨額投資が不確実な戦いを強いられるわけではないことが分かり、優先株利益の8％を事前に確保し、その後徐々に賭け金を引き上げた。

さらに、連邦準備理事会の利上げサイクルが高水準に達し、時間がかかる可能性が高い中、現金または流動性は常に投資家にとっての安全源となっており、バークシャーの現金保有額もますます大きくなっている。 2024年3月31日時点で、バークシャーが保有する現金、現金同等物および米国債の総額は1,435億900万米ドルで、2023年末に比べて216億6,400万米ドル増加した。保険事業への総投資に占める割合は24.75米ドルから増加した。以下のグラフに示すように、2023 年末には % が 29.35% になります。

バークシャーは四半期決算で、今後も米国の短期債券を含む短期投資を大量に保有し続けるとし、十分な流動性を確保することが重要だと考えており、収益性よりも安全性の方が高いと主張している。短期投資。

FRBの利上げサイクルが継続すると、全体的な経済活動が抑制され、上場企業の業績が鈍化する可能性があるが、これはプロセスの遅れであり、将来の株式市場のパフォーマンスに反映される可能性があるため、バークシャーにとって現時点では現金を保有しておく方が安全だ。高水準でポジションを保有するよりも時間がかかり、現金（特に短期国債）を保有すると、連邦準備制度の高金利の影響を受け、より高い利息収入を得ることができます。これは、投資するよりもはるかに安全で確実です。株式市場。

要約すると、安全性に関してバークシャーのアプローチは次のとおりです。

1) 高インフルエンサー株を追いかけるのではなく、自分のために十分な安全パッドを残しておきます。

2) 自分自身の投資に対して安全な閾値を設定します。

3) 現状を見直し、合理的な流動性を確保する。

米国への投資 バフェット氏は株主総会で「米国への投資」を強調しており、実際、株主への書簡でも毎年この視点を説明しているが、その最大の理由は愛国心だ。米国は世界最大の経済大国であり、最も活発な消費者基盤を持ち、米ドルが最も一般的に使用される決済通貨であるということは、権力者と手を結べば、成功の可能性は少なくとも半分になるということだ。

業績報告書におけるバークシャーの連結主要事業には、米国の保険会社、鉄道会社、エネルギー・公益事業会社、消費者企業などが含まれ、米国の生活のあらゆる側面に関与している。

さらに重要なのは、バフェット氏がより多くの税金を支払う意欲があることを強調したのは、米国の公共制度の円滑な運営を保証できる税金が豊富にあり、国が豊かで強いためであり、税金に関して発言権を持つことでバークシャーが持つことができるからである。より大きな発言力や政治的・経済的交渉。

私が楽観視している目標の 1 つは種牡馬です 投資研究で何度も提唱されているリスク分散の概念とは異なり、バフェットは自分の投資研究に自信を持っており、他の投資を通じてリスクを薄めるのではなく、投資を行うことに慣れています。例。

2024年3月31日の時点で、バークシャーのアップル保有株の市場価値は1,354億米ドルに達し、株式投資保有総額の40.31％を占めた。

何年も前、バフェット氏は、ある企業の潜在利益が最も高いと思うなら、投資収益率を償却するために他の小規模な投資を購入する必要はない、と述べました。

もちろん、これを行うための前提条件は、バフェットのような勇気と、確実に銘柄を選択する能力を持っていなければならないということです。

最初のいくつかのステップを見てください 投資は、支払うべきか解放すべきかを知る前に、少なくともマクロ経済を理解し、世界がどのように発展しているのか、そして現在どのような通貨、インフレ、経済発展サイクルにあるのかを理解する必要があります。たとえば、地理的状況は原油価格の動向に影響を与え、国の財政負担は経済の健全性に影響を与え、医療制度や社会保障制度の整備は特定の産業の発展に影響を及ぼし、貿易障壁は政治と切り離せないものです。国内住民への圧力が増大し、インフレを引き起こすだろう...

バフェット氏の投資レイアウトはこの点に細心の注意を払っており、たとえば世界中からの観光客が円の為替レートが安いことに気づき、日本に商品を買いに来たとき、バフェット氏はすでに投資機会を見つけていた。日本の産業省が支援するこの産業は、例外なく、鉱業を主な事業とする総合企業です。

日本は比較的鉱物資源に乏しい国ですが、同時に産業の発展には鉱物資源と切っても切れない関係にあります。一方、これらの巨大企業の産業は世界中、あらゆる階層に広がり、世界経済の恩恵を受けることができます。

バークシャーは日本株を席巻しただけでなく、円相場の低さを利用して日本円債を発行し、金利スプレッドと為替スプレッドを両立させた、非常に賢明な資金運用であり、将来を見据えたビジョンを持っていない。知識としては、バークシャーは収益の低い「テールウォーター」しか食べることができず、単にトレンドに従うだけでは豊かな報酬を獲得することはできません。

柔軟な資金活用 バークシャーは「権力を活用する」ことにも長けており、たとえば、バークシャーは常に保険事業からの余剰資金を投資に利用してきました。

同社の保険引受事業は健全な営業利益を維持することができ、これはバークシャーが「株取引のためにお金を借りる」ことで利息を支払う必要がないだけでなく、利益も得られることを意味する。

以下のグラフに示されているように、バークシャーの保険引受事業は、ほとんどの四半期で株主利益のプラスのシェアを生み出しました。

実際、長年にわたる蓄積と収益を経て、バークシャーの現在のポートフォリオの公正価値は、2024 年 3 月 31 日時点で、保険投資資金の額が 1,680 億米ドルをはるかに上回っています。この期間は4,890億米ドルに達し、これは浮動預金の2.91倍に相当します。

さらに、バークシャーの主な連結事業は公益事業が中心であり、景気変動を恐れることなく安定したキャッシュフローを生み出すことができ、鉄道事業への現在の設備投資は比較的安定していると同時に、安定した収益を生み出し、配当金を分配することができます。一方、消費者株は、AI が人々の生活や働き方をいかに変えても、依然としてバークシャーは多額のスナックを消費しなければなりません。多くの消費者株を保有しており、これらの株が生み出す安定したキャッシュフローを通じて将来の投資に対応できます。

この記事がお役に立てば幸いです。 もしそうなら、チップをおくるどうぞ https://getalby.com/p/bitcap

@ f6488c62:c929299d

เงินดอลลาร์สหรัฐฯ เผชิญความเสี่ยงสูญเสียความเชื่อมั่นและภาวะเงินเฟ้อรุนแรง ปัจจัยหลายประการบ่งชี้ถึงแนวโน้มดังกล่าว ดังนี้

1. เศรษฐกิจถดถอย: เศรษฐกิจโลกชะลอตัว ส่งผลให้ความต้องการใช้เงินดอลลาร์ลดลง

2. สงครามและความขัดแย้ง: ความตึงเครียดทางภูมิรัฐศาสตร์ กระตุ้นให้ประเทศต่างๆ หันมาใช้สกุลเงินของตนเองแทนเงินดอลลาร์ ลดบทบาทเงินดอลลาร์ในฐานะเงินสำรองระหว่างประเทศ

3. นโยบายการเงินตึงตัว: ธนาคารกลางสหรัฐฯ (เฟด) ปรับขึ้นอัตราดอกเบี้ยอย่างรวดเร็ว ส่งผลกระทบต่อสถาบันการเงิน เพิ่มความเสี่ยงของภาวะเศรษฐกิจถดถอย

4. พิมพ์เงินมหาศาล: นโยบายผ่อนคลายทางการเงินของสหรัฐฯ ส่งผลให้ปริมาณเงินดอลลาร์ในระบบเพิ่มสูงขึ้น กดดันให้ค่าเงินดอลลาร์อ่อนค่าและเกิดภาวะเงินเฟ้อ

ผลลัพธ์:

ความเชื่อมั่นต่อเงินดอลลาร์ลดลง: นักลงทุนเริ่มกังวลเกี่ยวกับเสถียรภาพของเงินดอลลาร์ หันไปลงทุนในสินทรัพย์ปลอดภัย เช่น ทองคำ เงินเฟ้อรุนแรง: ปริมาณเงินดอลลาร์ที่เพิ่มสูงขึ้น ประกอบกับปัญหาห่วงโซ่อุปทาน ส่งผลให้ราคาสินค้าและบริการทั่วโลกพุ่งสูงขึ้น อนาคตของเงินดอลลาร์:

ยังมีความเสี่ยง: ปัจจัยต่างๆ ยังคงกดดันให้เงินดอลลาร์เผชิญความเสี่ยง นักลงทุนควรติดตามสถานการณ์อย่างใกล้ชิด โอกาสฟื้นตัว: เศรษฐกิจโลกที่ฟื้นตัว นโยบายการเงินที่เหมาะสม และความร่วมมือระหว่างประเทศ อาจช่วยให้เงินดอลลาร์กลับมามีเสถียรภาพอีกครั้ง

บทความกาวๆ จาก zhongli

@ 6bae33c8:607272e8

People like to debate who belongs in the Hall of Fame, and there are nerd-stats and even some nerds themselves devoted to it. I’m into the idea, but I get a little bored of haggling over metrics and definitions. The problem is a player’s statistical profile is just what he’s done on average over the course of his career. In other words, someone’s career OPS, or even his total WAR doesn’t reflect who he was at his peak, and what the circumstances were.

Don Mattingly isn’t a Hall of Famer because he didn’t supplement his four-year peak with enough ordinary All-Star level seasons, but as a Yankee fan in the 1980s, it was obvious to me he was one of the best players in baseball over that span and on the trajectory before back issues derailed him. He had an MVP, four top-seven finishes for MVP, three gold gloves, struck out 147 times over 2,761 plate appearances and averaged .337/.381/.560 with 210 hits per year.

One thing I find underrated today are the old-school stats — hits, batting average, strikeouts. Making contact is a skill, hitting for average is a skill, and even if on average it doesn’t matter whether you reach base via walk or hit, it might make a big difference against better pitchers who don’t hand out many free passes, e.g., like pitchers you might find in deeper supply on playoff teams.

Bobby Abreu might have slightly more WAR than Ichiro Suzuki, thanks to his career .395 OBP, but Ichiro had 10 straight 200-hit seasons, five of which were 220-plus, which entails a much higher degree of difficulty. To me Ichiro is a no-brainer, Abreu borderline.

But one of my biggest criteria is whether a player was one of the best in the game for period of time. I care far less about someone’s career WAR or HR totals than whether he was like Mattingly, but instead surrounded by a decade of All-Star level play, even if it wasn’t MVP-consideration worthy.

I also think postseason success matters, particularly World Series titles. Sure it’s a small sample, but it’s the most important sample. The playoffs are imperfect but they are the very mechanism by which ultimate success in the sport is measured and achieved. It would be pathological to ignore the game’s signature signal, irrespective of your opinion on the adequacy of the sample.

While lack of postseason success doesn’t lock out inner-circle players like Mike Trout, it’s surely a tiebreaker for closer calls.

So with that understood, here are the active present day players I’d put in, by position.

(Post-script: I thought there would be more tough calls, but it was more obvious than I expected.)

Catcher:

Out

J.T. Realmuto is close, but at 33, he’d need 2-3 more peak seasons to qualify IMO.

Salvador Perez had that monster 48-homer year and has been a consistent power source for more than a decade. He also won five gold gloves. The problem is the .302 career on-base percentage.

First base:

In

Paul Goldschmidt — six top-six MVP finishes, four gold gloves, a top player spanning more than a decade.

Freddie Freeman — six top-six MVP finishes, a World Series ring, a top player spanning more than a decade, still possibly a couple good years left.

Out

Joey Votto — had six top-seven MVP finishes, but a slightly shorter peak and few playoff appearances over a longer career. Narrowly misses.

Second base

In

Jose Altuve — Has three top-five MVP finishes, won two World Series and is still going strong at a demanding defensive position.

Out

Marcus Semien — If he had 2-3 more strong years, he’d have a case, but his biggest year was in little league stadiums when he played for the Blue Jays, and he’s a late bloomer.

Third Base

In

Manny Machado — He’s had four top-five MVP finishes, won two gold gloves at a demanding position and is still only 31.

Nolan Arenado — The nine gold gloves and massive defensive WAR push him just over the top, as does his still solid production with the bat even after he left Coors Field.

Out

Jose Ramirez — Good, consistent hitting numbers, five top-six MVP finishes, but average defensively and never on the short list as the best player in baseball.

Shortstop

Maybe

Francisco Lindor — he’s only 30, so he could make it with three more strong seasons. He’s not there yet, though, given his modest offensive production with the Mets.

Out

Trea Turner — A great fantasy player, but not quite as good in real life with so-so defense and modest pop.

Carlos Correa — Too much time missed due to injury, but he’s still only 29 and could conceivably make a push if he had a few big years.

Outfield

In

Mike Trout — A no brainer despite the rash of injuries. Nine top-five MVP finishes, seven top-two, three MVP wins, a near 1.000 career OPS in a pitcher’s park.

Mookie Betts — Another no brainer. Six top-six MVP finishes, four top-two, six gold gloves, seamlessly playing second base and shortstop and two World Series wins. Still only 31 years old and very much at his peak. * Maybe*

Aaron Judge — He’s old (32) for his meager number of plate appearances (3,780), but he has 62 and 52-homer seasons, and three top-four MVP finishes. If he has a couple more big years, he’s in, just due to the magnitude of his monster seasons.

Bryce Harper — Borderline, but I’ll say he deserves it, if he has a few more good years (he’s only 31.) Two MVPs, .910 career OPS. * On Pace*

Juan Soto/Ronald Acuna

Pitchers

In

Shohei Ohtani — He’s a unique case, obviously, but he’s arguably the best player of all time, has averaged more than 9.0 WAR for three straight years over that span with two MVPs.

Justin Verlander — No brainer with three Cy Young awards, eight top-seven CY finishes, two World Series titles, 3,355 strikeouts, 258 wins and not finished yet.

Clayton Kershaw — Another no brainer despite the poor playoff track record. The 2.48 career ERA is off the charts in this era, as is the 1.00 WHIP. He also has three CY awards too, seven top-5 CY finishes.

Max Scherzer — The only other no brainer pitcher, Scherzer has 3 CYs, eight top-five CY finishes, two WS titles, 3,367 Ks. * Maybe*

Gerrit Cole — He probably needs a couple more good seasons, but Cole has a CY and six top-five finishes. He also had an utterly dominant 326-K season and has been on the short list of the league’s best pitchers for more than half a decade.

Out

Chris Sale — He has seven top-six CY finishes, a 3.11 career ERA and 1.045 WHIP despite toiling in hitter’s parks. But he’s been hurt the last few years and probably wasn’t ever the best pitcher in baseball. ** Jacob deGrom** — DeGrom has been the best pitcher in baseball the last half decade whenever he’s been healthy, but that’s been rare. He has a career WHIP of .993, and an ERA of 2.53. He won back to back CYs and finished third the following year. He’d need to stay miraculously healthy for two more full seasons or so to reach Sandy Koufax territory.

@ d34e832d:383f78d0

Imagine the Bitcoin blockchain as a bustling metropolitan area. Transactions on the blockchain are like commuters traveling to work during rush hour; the process can be slow, and there’s a high cost associated with getting where you need to go efficiently due to congestion. Now, imagine the Lightning Network as an extensive network of express highways that supplement this bustling urban infrastructure.

When you make a traditional Bitcoin transaction, it's akin to taking local roads during peak traffic times. You'll eventually reach your destination, but it may take some time and the journey can be costly in terms of transaction fees, similar to spending extra money on fuel.

However, by using the Lightning Network, it’s like accessing a less congested express highway. Here’s how it works:

Onboarding and Offboarding Ramps: Just as highways have specific entry and exit points, Lightning Network users must open a payment channel (entry ramp) with another user. This involves making a transaction on the Bitcoin blockchain to fund the channel. Once this channel is open, users can transact freely without needing to use the main blockchain, similar to driving on an express highway where you don’t encounter stoplights or traffic.

High-Speed Transactions: Transactions on the Lightning Network can be equated to driving at high speeds on an express lane because they're not impeded by the congestion of the main Bitcoin network. This results in nearly instantaneous transactions with very low fees, just as highways allow for faster travel between points.

Network of Highways: The Lightning Network isn’t just a single highway; it's an entire system of interconnected highways. Even if you don't have a direct payment channel open with someone, your payment can be routed through the network using multiple channels, just as a highway system connects various roads to allow you to reach a destination even if it is not directly connected to the highway you started on.

Exit Points: When you’re done transacting, or if you need your funds back in the main Bitcoin blockchain (perhaps analogous to exiting the highway to reach a specific neighborhood), you close your channel. This action settles your final transaction state back on the Bitcoin blockchain.

Like a modern highway system that alleviates traffic burden from city streets, the Lightning Network decongests the Bitcoin network, making transactions faster and cheaper, while still ensuring they can securely and effectively reach their final destinations when needed. Thus, the Lightning Network not only enhances the efficiency of Bitcoin transactions but also greatly expands its scalability, much like highways enhance urban mobility and connectivity.

Beginner's Guide to Bitcoin and Lightning Network Apps

Welcome to the NEWBIES category, your dedicated space for embarking on a journey into the world of Bitcoin (BTC) and the Lightning Network (LN). Whether you're a complete beginner, a small merchant, or just curious about Bitcoin, this guide is designed to help you navigate through your initial steps into Bitcoin without the complexities of self-custody or high-level technical requirements.

Why Start Here?

This category is specially curated for users who:

• Are new to Bitcoin and the Lightning Network.
• Prefer simple applications with user-friendly processes.
• May not be technically inclined or prefer an easy introduction to cryptocurrency.
• Want to use Bitcoin in small amounts for everyday transactions or just to get a feel of the technology.

Characteristics of Beginner-Friendly Bitcoin Apps

Custodial Services

The apps recommended here are primarily custodial. This means the service provider manages the wallet's private keys on your behalf. Here’s what you need to know:

• Dependence: These wallets rely on a connection to the provider’s server, which you do not control.
• Ease of use: Custodial wallets are generally easier to set up and use, making them ideal for newcomers.
• Security: While the risk level is low with small amounts, remember that your funds are technically under someone else’s control.

KYC and Privacy

• KYC Requirements: Many services require Know Your Customer (KYC) verification to comply with regulatory standards. However, there are options available without KYC for those prioritizing privacy.
• Privacy: While custodial solutions may not offer the same level of privacy as non-custodial wallets, they are suitable for new users experimenting with small amounts.

Wallet Backup and Restore

• Provider Dependent: The backup and restoration of your wallet are entirely dependent on the service provider. Ensure you understand their process for recovering your wallet should you lose access to your device.

Recommended Wallets for Beginners

Windows Desktop Wallets

• Green Wallet: A user-friendly wallet for Windows users starting with Bitcoin.
• Sparrow Wallet: Offers a simple interface with robust security features.
• Specter Desktop: Ideal for users interested in experimenting with multi-signature setups.

Android Wallet

• Electrum for Android: A popular choice that balances ease of use with comprehensive features.

iOS Wallet

• ZeusLN: A Lightning Network-focused wallet that’s great for iOS users taking their first steps into using LN.

Web and Telegram

• Mutiny Wallet: A self-custodial lightning wallet that's straightforward and secure, making it accessible for everyone.
• SatsMobiBot on Telegram: Chat with this bot to instantly create a wallet and start transacting with Bitcoin Lightning.

Learning Resources

• RoboSats: Learn how to use this peer-to-peer Bitcoin exchange that prioritizes privacy and speed.

Consider

Starting your journey into Bitcoin doesn’t have to be complicated. By choosing the right tools and platforms, you can gradually learn about Bitcoin in a controlled and low-risk environment. Remember to transition to non-custodial options as you become more comfortable and look to involve larger amounts, to have complete control over your crypto assets. Explore, learn, and enjoy your journey into the world of Bitcoin and the Lightning Network.

Leveraging the Power of Lightning Network

For individuals with a foundational understanding of Bitcoin (BTC) and the Lightning Network (LN), advancing to an intermediate level involves embracing greater privacy, security, and autonomy over your transactions. This guide delves into the realm of running a private LN node, using non-custodial wallets, and managing an own Bitcoin Core node for a more robust crypto experience. It is ideal for users and small merchants seeking enhanced control over their digital assets.

Understanding Your Options: Private LN Nodes and Non-Custodial Wallets

At this intermediate stage, users often opt to run their own Bitcoin Core node and connect various applications to validate and broadcast on-chain transactions. A private LN node is another popular choice, providing increased privacy for lightning channel management that isn't publicly announced on the LN network.

Key Use Cases:

• Personal Bitcoin Core Node: Users run their node at home, connecting mobile and desktop apps for on-chain and LN transactions.
• Private Lightning Network Node: This setup allows managing LN channels privately, ideal for users who utilize LN for regular payments without the need to route others' transactions through their node.
• Advanced Fund Management: Intermediate users might engage in coin control, swaps, and using ramps for buying and converting BTC, managing and spending funds efficiently.

Recommended Apps for Intermediate Users

Blixt

• Description: A mobile LN node wallet with rich features that can operate as a private LN node in various scenarios. A desktop version is planned, which will expand its capabilities.
• Use Case: Perfect for those who need a mobile solution with the capabilities of a full LN node.
• Blixt Wallet

Zeus

• Description: A powerful mobile node wallet that supports multi-account and multi LN implementations such as LNDhub and LN address.
• Use Case: Best for users looking for a versatile and feature-rich mobile lightning experience.
• Zeus Wallet

Breez

• Description: This is a mobile LN node wallet integrated with a Point of Sale (PoS) system and podcasting capabilities.
• Use Case: Ideal for merchants who want to accept BTC/LN payments seamlessly and content creators.
• Breez Wallet

BlueWallet

• Description: A multi-platform (Mobile/Desktop) BTC/LN wallet that includes functionalities like multisig, advanced features, and the ability to fund LN wallets from on-chain sources.
• Use Case: Suitable for users who transition frequently between on-chain and off-chain Bitcoin management.
• BlueWallet

Electrum

• Description: An old yet powerful desktop and mobile wallet that supports on-chain and LN transactions, using trampoline channels or private channels, and integrated with swaps.
• Use Case: Great for users who need a reliable and robust platform for managing on-chain and off-chain funds.
• Electrum Wallet

Best Practices for Intermediate LN Users

• Security First: Always ensure that your wallet and node software are up to date to defend against vulnerabilities.
• Back Up Regularly: Maintain regular backups of your wallet and channel states to prevent loss of funds.
• Monitor Channel Liquidity: Keep an eye on your LN channels' liquidity to ensure efficient transaction processing.
• Privacy Enhancements: Utilize features like Tor integration for network-level privacy and consider coin control features for enhanced transaction privacy.

Case In Consideration

Progressing to an intermediate level in managing BTC and LN involves a deeper dive into non-custodial services, running personal nodes, and exploring advanced wallet features. The tools and practices highlighted in are designed to provide users and small businesses with the necessary foundation to achieve greater autonomy, security, and efficiency in their Bitcoin transactions.

Stay informed and proactive in managing your digital assets, and continue exploring the vast potentials of the Bitcoin network and the Lightning Network technology.

Mastering the Lightning Network

The Lightning Network (LN) represents a significant evolution in the scalability and utility of Bitcoin, but fully leveraging its capabilities requires a deep understanding of its mechanics and a significant commitment in terms of resources. . It covers the prerequisites for effectively operating a high-capacity routing node, including technical knowledge, financial backing, and strategic management of liquidity and routing operations.

Understanding the Requirements

Profound Knowledge Base

The role of an expert in the LN ecosystem demands more than just a cursory understanding of Bitcoin; it requires proficiency in various complex topics:

• Bitcoin Protocol: Deep knowledge of how transactions are processed on the blockchain.
• Lightning Network: Detailed understanding of LN mechanics, channel states, and network topology.
• Economic Strategies: Insights into liquidity management, fee structures, and channel balancing.
• Technological Proficiency: Skills in Linux, and potentially, the hardware used for running a node.
• Security Measures: Best practices in securing digital assets and protecting node infrastructure.

Financial Commitment

Running a high-capacity LN node isn't just technically demanding—it also requires significant financial investments:

• Channel Funding: A substantial amount of bitcoin is needed to fund channels, with the aim of facilitating effective routing.
• Liquidity Management: The ability to allocate and rebalance liquidity strategically across channels to optimize transaction throughput and fee revenue.

Best Practices for Advanced LN Users

Continuous Education and Research

Keeping abreast of the latest developments in the LN space is crucial. Regularly consulting high-quality resources can enhance your understanding and operational efficiency:

• LN Documentation: Such as those provided by Lightning Engineering and other community-curated resources like CLN Documentation.
• Research Articles: Insights from thought leaders, such as the overview by Fulgur Ventures, provide context on different LN implementations and updates.

Strategic Liquidity Management

To ensure your node serves as an effective routing hub, consider the following:

• Balanced Channels: Maintain a balanced channel state where neither side is too depleted of funds.
• Dynamic Fee Strategies: Adjust routing fees based on network congestion, channel capacity, and competitive rates.
• Risk Assessment: Continuously evaluate channel counterparts to mitigate potential losses from channel closures or uncooperative peers.

Community Engagement and Contribution

Active participation in LN and Bitcoin forums, discussions, and development channels can provide valuable insights and also contribute to the collective knowledge and improvement of network protocols and practices.

Automation and Monitoring

Utilize tools and scripts to automate routine node operations such as:

• Channel Rebalancing: Tools that can dynamically balance channels in response to network conditions to optimize fees and liquidity.
• Uptime and Performance Monitoring: Regular checks to ensure the node is operational and performing transactions as expected.

Security Best Practices

Given the financial and operational stakes involved, securing your node is paramount:

• Regular Updates: Keep the node software and its dependencies up to date to protect against vulnerabilities.
• Backup Solutions: Implement robust data backup solutions to recover from hardware failures or cyber-attacks.
• Multi-Factor Authentication and Encryption: For all node access, ensure that data is encrypted at rest and in transit.

Moving Unto A Purpose

For those at the advanced level, running a LN node is a challenging yet rewarding endeavor that requires a blend of technical skill, economic savvy, and strategic foresight. It's not merely about supporting the network; it's about actively shaping the future of Bitcoin's scalability and utility. As you embark on this journey, remember that your growth and the network's health are interlinked: invest in your knowledge, contribute to community discussions, and operate your node with the diligence it requires. The portal to mastering Lightning is through persistent learning, vigilant operation, and proactive community engagement.

Mastering the Lightning Network: Diverse Use Cases and Best Practices

The Lightning Network (LN) has opened up new frontiers for Bitcoin usage, enabling faster, cheaper, and more scalable transactions. It's not just revolutionary technology—it's a thriving ecosystem for various stakeholders. From those functioning as Liquidity Service Providers (LSPs) to small businesses and family nodes, the LN is a dynamic field with rich opportunities. In this detailed guide, we explore the different roles within the LN and the best practices and tools tailored for each.

Key Use Cases in the Lightning Network

1. Routing Nodes and LSP Operators

For users equipped with the necessary knowledge and resources, running a routing node or acting as an LSP can be highly rewarding. This role involves managing the flow of transactions across the network, akin to controlling the flow in pipelines, adjusting where and how 'liquid'—in this case, satoshis—flows.

• Best Practices:
• Maintain a robust and well-funded node with diverse, high-capacity channels.
• Use tools like ThunderHub and LNBits for effective channel management and liquidity analysis.

2. Medium/Big Merchants

Merchants with significant transaction volumes can benefit greatly from LN by adopting a self-custody payment solution. This setup enhances both the security of their funds and the efficiency of transaction handling.

• Best Practices:
• Implement user-friendly LN-compatible POS systems.
• Educate the staff and customers about LN transactions for smoother operations.

3. Wallet Providers/Developers

These users offer more than wallets; they provide essential liquidity and connective services that enhance the overall utility of the LN.

• Best Practices:
• Ensure robust security measures are in place to protect users’ funds.
• Maintain high standards of privacy and transparency in service operations.

4. Advanced LN Users: Family Node Operators

Running a family node involves managing LN channels for personal use or a small community, like close friends or family. This setup emphasizes privacy and control over transactions and channel management.

• Best Practices:
• Regularly monitor and rebalance your channels to ensure optimal liquidity.
• Provide reliable support and guidance for your network of users.

5. Developers and Testers

These users are essential for the ongoing improvement and resilience of the LN. They run full nodes for testing new features or debug existing systems.

• Best Practices:
• Stay updated with the latest LN developments and community research.
• Contribute to projects and discussions on platforms like GitHub to improve LN tools and documentation.

Tools for Effective LN Management

To manage their LN nodes and liquidity effectively, users can leverage a variety of applications and platforms: - Fully Noded: Helps manage Bitcoin and LN nodes through a comprehensive mobile interface. - Phoenix: A user-friendly mobile LN wallet that simplifies channel management and transactions. - Sparrow Wallet: For onchain management with advanced features like coin control and privacy techniques.

Concluding Thoughts

The Lightning Network isn’t just transforming how transactions are done; it’s reshaping the economic landscape of digital currencies. Each user, whether a merchant, developer, or private node operator, plays a crucial role in this ecosystem. By understanding and implementing best practices tailored to their specific roles, participants can not only optimize their operations but also contribute significantly to the LN’s growth and efficiency.

This ecosystem thrives on continuous learning and adaptation. Whether you are just transitioning from intermediate know-how or honing your expertise, remember that every contribution matters in building a more connected and efficient network. Enjoy exploring, learning, and growing in the ever-evolving landscape of the Lightning Network.

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In the evolving landscape of digital payments and cryptocurrency, facilitating a seamless connection between applications and wallets is crucial. Nostr Wallet Connect (NWC) emerges as a robust solution, offering developers an effortless way to link their applications with various bitcoin wallets. So how to get started with NWC, its benefits, features, and how to obtain and handle connection strings effectively.

What is Nostr Wallet Connect (NWC)?

Nostr Wallet Connect is a protocol designed to simplify the integration between client applications and wallet services. It streamlines operations such as sending and receiving payments, displaying wallet balances, and handling transactions without the need for manual QR code scans or confirmations.

Benefits of Using NWC

NWC brings several advantages to the table that can significantly enhance user experience and developer convenience:

• Convenience: Automates payment confirmations, removing the necessity for manual entry or QR code scans.
• Flexibility: Developers can either build a complete wallet interface or incorporate individual payment features according to their needs.
• Interoperability: NWC provides a universal interface that supports integration with any bitcoin wallet.
• Risk Management: Shifts apps from having to custody funds to merely orchestrating payments, enhancing security.
• Platform Independence: Compatible across various platforms including mobile, backend, CLI tools, and desktop applications.

Core Features of Nostr Wallet Connect

• Real-time Payment Receipt: Allows instant acknowledgment of incoming payments.
• Versatile Payment Initiations: Supports sending single or multiple payments, and can automate recurring transactions.
• Wallet Balance Display: Enables apps to show current wallet balances.
• Payment Listing and Verification: Offers functionalities to list and check the status of payments.

Obtaining a Connection String

To establish a connection between a client app and a wallet service using NWC, a connection string is essential. Here’s how to acquire it:

1. Discovery: The client app can discover a wallet service either by scanning a QR code, following a deep link, or entering a URI.
2. Generation: The wallet service generates a connection URI using the nostr+walletconnect: protocol. This includes a hex-encoded public key and required query parameters such as relay URLs and a secret key.

Example Connection String

nostr+walletconnect:b889ff5b1513b641e2a139f661a661364979c5beee91842f8f0ef42ab558e9d4?relay=wss%3A%2F%2Frelay.damus.io&secret=71a8c14c1407c113601079c4302dab36460f0ccd0ad506f1f2dc73b5100e4f3c

This string contains all the necessary information for the client app to initiate and maintain a secure connection with the wallet service.

Practical Implementation

Once the connection string is obtained, the client app should store this configuration for ongoing use. It's important to choose relays that maintain connections even during inactivity to prevent any loss of data or events.

For developers looking to automate the construction and management of these connection strings, exploring documentation and tools provided with NWC will be highly beneficial. More insights into this can be found on the official Nostr Wallet Connect page.

To Consider

Nostr Wallet Connect offers a streamlined, secure, and efficient way for applications to interact with bitcoin wallets. By implementing this protocol, developers not only enhance the functionality of their applications but also contribute to a more interoperable and user-friendly Bitcoin ecosystem. Whether you are developing a new financial app or looking to upgrade an existing system, integrating NWC provides a clear path to improving your application's connectivity and functionality in the crypto space.

Integrating Nostr Wallet Connect (NWC): SDKs, Tools, and Best Practices for Developers

The advent of Nostr Wallet Connect (NWC) has made integrating Bitcoin payments into apps and websites significantly more accessible and efficient. As a developer looking to harness the power of NWC, understanding the available SDKs, tools, and best practices for implementation is crucial. This article provides a comprehensive guide to getting started with NWC, highlighting key resources and strategies to optimize the integration process.

SDKs and Libraries for NWC Integration

NWC supports a variety of SDKs and libraries that cater to different programming environments, ensuring compatibility and ease of integration across multiple platforms.

JavaScript SDK

For developers utilizing JavaScript, the JavaScript SDK provided by NWC offers extensive documentation and integration guides. It facilitates the connection between your application and users' wallets, streamlining the process of requesting and processing payments.

Rust SDK

If your application’s backend is built with Rust, the Rust SDK for NWC is designed to provide robust support for wallet interactions. Rust’s performance and safety features make it an excellent choice for handling cryptocurrency transactions.

Bitcoin Connect Library

For applications that need to interact with Bitcoin Lightning-powered websites, the Bitcoin Connect Library is an invaluable resource. Supporting all web frameworks, it provides code examples for HTML, JavaScript, React, and Next JS/SSR, making it a versatile option for web developers.

Best Practices for Implementing NWC

When integrating NWC into your application, consider the following best practices to ensure a smooth and secure user experience:

Permission Requests

Only request the necessary permissions, and limit the scope and duration of these permissions to what is needed for each specific action. This minimizes security risks and respects user privacy.

Connection Setup

When setting up a connection, always pass the application name to provide clarity to the user. This transparency helps build trust and improves user comprehension of what the application will access.

Handling Connection Strings

For user-generated connection strings:

• Input Security: Use password-type input fields when users need to paste a connection string. This prevents passive data leaks from screen recordings or shoulder-surfing.
• User Control: Always provide users with the option to manually add a connection string from their NWC wallet application.

Wallet Agnosticism

Do not presume the use of a specific wallet service by the user. Maintain language neutral about the wallet provider to accommodate any user from any service. For instance, use generic terms like "Pay" instead of "Pay with X."

Running or Connecting to a Relay

Understanding how to interact with relays is crucial as they facilitate communication between apps and wallets:

• Event Handling: Learn to handle different types of events (NIP-47 info, request, and response) that are used to transmit commands and responses.
• Encryption: Ensure the content of requests and responses complies with NIP04 encryption to protect data integrity and privacy.
• Dedicated Relay Usage: Consider using a dedicated relay to enhance privacy and reliability. This can help avoid metadata leaks and improve connection stability.

Starting with NWC

To get started with NWC, developers can explore the comprehensive guide and resources available on the NWC website. Here, you can find detailed documentation, code snippets, and examples to help you integrate NWC smoothly into your applications.

Considerations

Integrating Nostr Wallet Connect into your applications opens up a realm of possibilities for incorporating Bitcoin payments efficiently and safely. By utilizing the appropriate SDKs, adhering to best practices, and properly handling connections and relays, developers can provide users with a seamless and secure financial interaction experience. Whether you are developing a mobile app, a web service, or a backend system, NWC provides the tools and guidelines necessary to enhance your application's functionality with robust Bitcoin support.

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แน่นอนว่าผมคงไม่ใช่คนเดียวที่ทำมัน แต่ก็ปฏิเสธไม่ได้จริงๆ ว่าผมทุ่มเทให้กับสิ่งต่างๆ เหล่านี้มากมายเหลือเกิน

ผู้ชายคนหนึ่งที่ได้พักผ่อนเพียงวันละ 2-4 ชั่วโมงต่อวันหรือบางวันก็แทบไม่ได้นอนเลยลากยาวเป็นปีๆ จะเหลือพลังมากสักแค่ไหนกับการผลักดันที่นี่ให้ไปต่อ

คำตอบก็อย่างที่เห็น.. ผมหายไปเป็นเวลา 2 เดือนเต็มๆ

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---

ในเวลาแบบนี้.. พวกเราแต่ละคนมีวิธีในการเติมพลังให้กับตัวเองอย่างไรกันบ้างครับ?

เมื่อคุณพาตัวเองไปอยู่กับบางสิ่งบางอย่างมากจนเกินไป คุณจะเริ่มรู้สึกว่าหลายสิ่งหลายๆ อย่างในชีวิตของคุณมันเริ่มขาดหายไปเรื่อยๆ จนกระทั่งถึงจุดที่คุณจะเริ่มคิดถึงและโหยหาสิ่งเหล่านั้น

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แต่เราก็มักจะรู้สึกดีกับคำชมของแค่คนบางคนเท่านั้น.. เรามักจะคาดหวังให้ใครสักคนมอบคุณค่าและ appreciate ในสิ่งที่เราทำ..

ผมคงไม่กล้าเหมารวม แต่ผมก็รู้สึกได้ว่าผู้ชายส่วนใหญ่ก็มักจะเป็นแบบนี้.. พวกเขาจะรู้สึกว่าสิ่งที่ตัวเองทำมันมีคุณค่า พวกเขาจะรู้สึกว่าตัวเองมีคุณค่า เมื่อคนที่เขารักเห็นค่าในสิ่งที่เขาทำ..

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ในตอนที่ผมเริ่มถอยออกไป.. ผมไม่ได้เข้าใจในสิ่งเหล่านี้.. แต่หลังจากที่ผมทบทวนสิ่งต่างๆ ทบทวนความรู้สึกของตัวเอง ผมจึงพบว่ามันก็คงจะเป็นเพราะแบบนี้นี่แหละ

ตามหาคุณค่าในแบบตัวเอง

ผมจะไม่บอกว่าสิ่งที่ผมเลือกนั้นมันเป็นสิ่งที่ดี.. การทิ้งทุกอย่างเอาไว้กลางทางและพาตัวเองออกไปยังสถานที่ใหม่ มันไม่ใช่การตัดสินใจที่ดีนัก.. แต่ในตอนนั้นผมก็รู้สึกว่ามันจำเป็น

ผมพาตัวเองกลับไปยังบริบทที่ซอฟต์ลง.. ผมหย่อนพิณทุกสาย ผมลดความตึงของมันกลับมาหาตรงกลาง ผมไปอยู่ใน community ใหม่หลายๆ ที่ ออกไปสัมผัสกลุ่มคนใหม่ๆ ที่มีแนวคิดและมุมมองแตกต่างจากพวกเรา

ถ้าพูดให้เข้าใจง่ายกว่านั้นก็คือ.. ผมอยากรู้ว่าภายนอกห้องแห่งเสียงสะท้อนนี้ (Echo chamber) มันเป็นแบบที่เราคิดกันไปเองหรือเป็นแบบไหนกันแน่..

คนแบบผมไม่ว่าอยู่ตรงไหนมันก็ยังเป็นผมอยู่เสมอ..

ผมพบว่าตัวเองก็ยังพยายามจะไปสร้างบางอย่างในที่แห่งใหม่เหมือนเดิมอยู่ดี ผมมีโอกาสได้ลีดกลุ่มคนหลายพันคน (จะบอกว่าเป็นหมื่นๆ คนก็ได้) ผมพยายามจะสร้าง community ให้กับพวกเขา

แต่การสร้างครั้งนี้มันมีความท้าทายบางอย่าง.. ผมพยายามเอาแนวคิดและหลักการในแบบของเศรษฐศาสตร์สำนักออสเตรียน นำเอาปรัชญาเบื้องหลังบิตคอยน์ไปประยุกต์ให้เข้ากับบริบทของ community แห่งใหม่ซึ่งแตกต่างจากพวกเราราวฟ้ากับเหว.. กับกลุ่มคนที่ไม่รู้จักทั้งเฟียตและบิตคอยน์มาก่อนเลย

และมันทำได้.. ผลลัพธ์มันออกมาดีกว่าที่คิดไว้เสียด้วย

มันทำให้ผมค้นพบว่า... ไม่ว่าคุณจะอ่านตำราอะไร ไม่ว่าตำราเล่มนั้นจะถูกเขียนเอาไว้แบบไหน.. คุณจะจำประโยคเด็ดๆ ในนั้นเพื่อเอาไปพูดเท่ๆ ได้บ้างไหม คุณจะจำแนวคิดได้ทุกบรรทัดหรือเปล่า.. สิ่งเหล่านี้ไม่ได้สำคัญอะไรเลย

สิ่งสำคัญคือคุณสามารถเอามันไปประยุกต์ใช้ได้จริงจนเกิดผลสัมฤทธิ์ได้หรือเปล่า?

คุณสามารถนำความเข้าใจที่ได้จากสิ่งเหล่านั้นไปปรับให้เข้ากับบริบทที่ต่างจากสิ่งที่ตำราเขียนไว้ได้หรือเปล่า เพราะวันที่ตำราถูกเขียนขึ้นกับวันที่คุณทำมันไปใช้ บริบทที่เกี่ยวข้องมันไม่ได้เหมือนกันทั้งหมดอย่างแน่นอน

ทักษะในการสังเกต ทักษะในการวิเคราะห์ การแปลแนวคิดให้เข้ากับคนที่ฟัง การประเมินผลลัพธ์และการปรับเปลี่ยนสิ่งต่างๆไปตามวิวัฒนาการที่เกิดขึ้น แม้กระทั่งการจัดการกับอารมณ์ ฯลฯ มันถูกนำมาใช้ผ่านการบูรณาการร่วมกันในแบบที่ไม่ได้ง่ายอย่างที่คิด

ความต้องการในผลประโยชน์ส่วนตน (Self interest) ของคนกลุ่มใหม่ที่ผมต้องมีปฏิสัมพันธ์ด้วย มันก็แตกต่างจากพวกเราอย่างสิ้นเชิง ความเข้าใจของพวกเขาต่อบางสิ่งต่างๆ รอบตัวไม่ได้เป็นแบบเรา

ผมคงจะไม่บอกว่าพวกเขากับพวกเราใครดีหรือด้อยกว่ากัน มันก็แค่ไม่เหมือนกัน สิ่งที่ผมต้องทำก็แค่ต้องยอมรับในความแตกต่างนั้นและพยายามทำความเข้าใจมัน เพื่อที่จะเพิ่ม-ลดหรือมอบบางอย่างที่เป็นประโยชน์ให้กับพวกเขา

สรุปแล้ว.. ถ้าวันนี้ยังมีคนตั้งคำถามกับหลักการและแนวคิดออสเตรียน ถ้ายังมีคนมีข้อสงสัยกับแนวทางการกระจายศูนย์ ว่ามันยังมีประสิทธิภาพกับสังคมในปัจจุบันหรือไม่?

ผมอยากจะถามกลับว่า.. คุณเข้าใจมันมากพอที่จะนำมันไปปรับใช้จริงๆ หรือเปล่า? หรือคุณแค่ท่องจำมันได้?

คนทั่วไปสามารถทำความเข้าใจกับคำว่า low time preference, proof of work, subjective value, single point of failure, decentralized, division of labor, collective outcome, self-interest บลา บลา บลา ได้ทั้งหมดนั่นแหละ

ทั้งที่เราเข้าใจว่าสิ่งเหล่านี้เป็นเรื่องที่เข้าใจได้ยาก เอาเข้าจริงแล้วมันก็ขึ้นกับว่าวิธีถ่ายทอดของคุณมันเป็นแบบไหนต่างหากล่ะ..

ดังนั้นทั้งหมดทั้งมวลที่ผมค้นพบก็คือ.. ชุดทักษะ, ชุดความคิด, ทัศนคติ, แนวทาง, วิธีการ, ประสบการณ์, วิจารณญาณ และวุฒิภาวะของผู้ถ่ายทอดนั้นสำคัญมาก มากพอๆ กับฝั่งผู้รับ

จากในอดีตที่บางครั้งเราก็มองว่าความพร้อมของผู้ฟังนั้นสำคัญมากต่อการถ่ายทอดแนวคิดของพวกเรา.. วันนี้ผมพบว่า.. เราอาจต้องลองกลับมามองดูตัวเราเอง..

คนสอนน่ะพร้อมหรือยัง?

สอน สร้าง จัดการปัญหา และส่งต่อ

เรื่องเล่าทั้งหมดอาจจะฟังดูดี.. แต่ชีวิตคนเรามันไม่ได้ง่ายแบบนั้นเสมอไป ในเรื่องดีๆมันก็มุกจะมีเรื่องแย่ๆ เกิดขึ้นปะปนกันไป ก็เพื่อให้เราได้เรียนรู้ เข้าใจและเติบโต

ในระหว่างทางของการสร้าง community แห่งใหม่ มันไม่ได้สวยหรูไปเสียทั้งหมด มันเกิดปัญหามากมายให้ผมต้องคิดและจัดการผ่านระบบกระจายศูนย์และทีมเสรีที่ผมสร้างขึ้น

ความวุ่นวายก็คืองานของผมมาตั้งแต่ไหนแต่ไร

ผมแค่รู้สึกว่า.. ผมสามารถเลือกได้ที่จะจัดการหรือเพิกเฉยต่อสิ่งเหล่านั้น เพื่อทำให้เวลาทั้งหมดที่ผมเสียสละไปกับที่นั่นหายไปในอากาศโดยไม่ได้อะไรขึ้นมาเลย.. ผมไม่ได้กำลังพูดถึงเงินหรือผลตอบแทนในลักษณะที่เป็นรูปธรรม

แต่มันคือคุณค่าในเชิงนามธรรม

การจัดการกับความวุ่นวายในระหว่างทางที่เกิดขึ้นช่วยให้ผมได้นำเอาทักษะและความเข้าใจที่มีอยู่เดิมไปทดลองใช้ มันช่วยผมพัฒนาความคิดและอารมณ์ของตัวเองมากขึ้น

แต่แทนที่ผมจะนั่งงุนงงกับสิ่งที่เกิดขึ้น.. ผมนำมันกลับมาคิดไตร่ตรองและทบทวนอย่างละเมียดละมัย แล้วพยายามทำความเข้าใจตัวเองในฐานะคน อะไรทำให้ผมเป็นแบบนั้น ผมรู้สึกอะไรอยู่ถึงตอบสนองไปแบบนั้น บทเรียนที่ผมได้จากสิ่งเหล่านี้คืออะไร?

การตระหนักรู้สิ่งต่างๆ เหล่านี้ทำให้ผมค้นพบคุณค่าในตัวผมเอง.. ทำให้ผมรู้ว่าตัวผมเองนั้นเป็นใคร ผมทำหรือทำอะไรไม่ได้บ้าง ผมยังขาดอะไรถึงไม่สามารถทำบางอย่างได้ ผมค่อยๆ ฟื้น passion ที่เคยมีกลับมาได้เรื่อยๆ และเรื่อยๆ

การค้นพบสิ่งที่ผมยังไม่รู้ ช่วยทำให้ผมรู้ว่าพรุ่งนี้ผมควรทำอะไร สิ่งนี้มีค่าและมีความหมายมากๆ ต่อตัวผม..

รู้ว่าเรายังไม่รู้อะไร..

รู้ว่าจริงๆ แล้วเราไม่ควรรู้อะไร

ทันทีที่ผมรู้.. มันทำให้ผมรู้สึกได้เลยว่ามันถึงเวลาแล้วที่ผมจะต้องกลับบ้าน.. ผมได้คำตอบบางอย่างที่ผมเคยต้องเสียเวลางมหามาอย่างยาวนาน.. มันเกิดแนวคิดใหม่ๆ มากมายในหัวผมซึ่งจะเป็นประโยชน์กับคนที่บ้านได้อย่างแน่นอน

ใช่ครับ.. ผมคิดถึงบ้าน

ให้ตายเถอะ.. ผมกำลังจะทิ้งที่แห่งหนึ่งที่ผมได้โผล่ตัวเองเอาไว้อย่างเหนียวแน่นกลับไปหาอีกที่หนึ่งอีกแล้วงั้นหรอ?

แล้วถ้าผมกำลังรู้สึกว่าตัวเองโดนผูกเอาไว้.. มันแปลว่าผมยังไม่สามารถกระจายบางอย่างออกจากตัวเองได้ทั้งหมดหรือเปล่า?

ถ้าผมไม่สามารถเป็นอิสระจากที่ไหนสักที่ได้.. มันแปลว่าผมยังไม่สามารถสร้าง decentralized network อย่างแท้จริงขึ้นได้ใช่ไหม?

โจทย์นี้ช่วยให้ผมค้นพบว่าแท้จริงแล้วตามบทบาทที่ผมกำลังเป็นอยู่นั้นผมควรจะสร้าง, จัดการ, แก้ไขหรือทำอะไรกันแน่?

ผมจะต้องส่งต่อสิ่งต่างๆ ที่ได้เริ่มเอาไว้ จนผมรู้สึกได้ว่าหากไม่มีผมที่แห่งนั้นก็จะไม่มีวันเหี่ยวตายไป..

ถ้าไม่บอกว่าความเข้าใจนี้เกิดมาจากปรัชญาเบื้องหลังบิตคอยต์ เราจะบอกว่ามันเป็นอะไรได้อีกล่ะ?

บ้านก็คือบ้าน

2 เดือนที่ผมหายไปทำเรื่องใหม่ๆ ไปจัดการกับอาการป่วยของตัวเอง ผมก็รู้สึกคิดถึงผู้คน, บรรยากาศและความรู้สึกเดิมๆ ที่เคยสัมผัสจากบ้านหลังนี้เสมอ

ผมต้องบอกไหมว่า "บ้าน" ที่ผมกำลังพูดถึงอยู่นี้คือที่ไหน?

ไม่มีใครตั้งคำถามว่าผมหายไปไหน ไม่มีใครตัดพ้อแม้จะถูกผมทิ้งเอาไว้กลางทาง ไม่มีใครพยายามจะเอาคำตอบจากการตัดสินใจของผม.. ผมสัมผัสได้เพียงแค่ความคิดถึงและความห่วงใย มันพุ่งตรงเข้ามาทัชที่หัวใจของผม มันเข้าใจได้ไม่ยากเลยว่าผู้คนที่บ้านรักผมขนาดไหน

ผมแวะเวียนกลับมาแบบลับๆ เพื่อพูดคุย ได้แลกเปลี่ยนความรู้สึกกับคนในบ้านเป็นครั้งคราว บ้านที่ครั้งหนึ่งผมรู้สึกว่ามันเริ่มสูบพลังไปจากผม แล้วผมก็คิดผิดไปถนัด.. เพราะการกลับมาเยี่ยมเยือนแต่ละครั้ง.. ผมรู้สึกเหมือนกำลังได้รับพลังบวกบางอย่าง

ที่นี่แหละคือ safe zone ของผม

ไม่ว่าคนที่นี่จะสนทนาลงลึกในเรื่องต่างๆ กันอย่างบ้าบอคอแตก ไม่ว่าคนที่นี่แทบจะไม่ผ่อนคลายให้กับเรื่องใดๆ เลย แต่ทำไมผมกลับรู้สึกสนุก มีความสุข ที่ได้ยินน้ำเสียง รับฟังความคิด และสัมผัสสิ่งเหล่านั้น..

ต่อให้สิ่งต่างๆ ที่กำลังอบอวลรอบตัวจะไม่สามารถแทรกเข้ามาในหัวผมได้ทั้งหมด ต่อให้ในตอนนี้สมองผมยังไม่พร้อมจะรับเรื่องหนักๆ แต่ผมก็รู้สึกดีที่ได้พาตัวเองกลับมาอยู่ที่นี่ ได้เอนหลังลงบนฟูกที่เคยนอน ได้ยินเสียงเจื้อยแจ้วที่คุ้นหู และยังคงเห็นความหวังที่เราต่างก็เคยมีร่วมกัน

พวกเขาที่นี่ยังคงต้อนรับผมเสมอไม่ว่าผมจะทำอะไรลงไป

ผมจะสามารถพูดอะไรได้อีกนอกจากคำว่า..

ผมรักพวกคุณทุกคน.. จริงๆ นะ

ปัญหาของคนที่จากบ้านไปนาน.. คุณก็คงจะพอนึกออกว่าคืออะไร.. สิ่งที่กำลังรบกวนจิตใจผมตอนนี้ก็คือ.. ชิบหายแล้วคนในบ้านกูไปถึงไหนกันแล้ววะ? ตอนนี้ผมรู้สึกว่าจับต้นชนปลายไม่ถูก ผมแทบไม่รู้เลยว่าเกิดอะไรขึ้นบ้างที่นี่ น้องๆ ของผมทำอะไรกันไปแล้วบ้าง ผมควรจะเริ่มตรงไหน?

มันคงเป็นอย่างอื่นไปไม่ได้ เพราะผมก็คงจะเอาแต่ถามและฟัง ถามและฟัง ถามและฟังวนไปแบบนี้ จนกว่าผมจะรู้สึกว่าผมเริ่มตามทุกคนทันแล้ว

ดูบางทีผมอาจจะแค่ช่างแม่งมัน.. กระโดดขึ้นเรือแล้วจอยไปกับมันเลย

เรือที่จะพาผมไปเจอกับทุกคนในวันที่ 20 เมษายนที่กำลังจะถึงนี้.. คุณอาจจะไม่ได้เจอกับผมในแบบที่คุณเคยรู้จัก เพราะช่วงที่ผ่านมามันก็มีหลายอย่างที่เกิดความเปลี่ยนแปลงในตัวผม ทำบุคลิกและความคิด แม้กระทั่งความหล่อ..

ผมอาจไม่เท่ในแบบที่พวกคุณรู้สึกอีกแล้ว.. แต่ผมก็กล้ายืนยันว่าผมยังเป็นคนเดิม

คนที่เคยยืนอยู่ข้างหน้าเพื่อรับตีนแทนพวกคุณเสมอ คนที่เคยตกรถทุกครั้งที่เมา คนที่พูดน้ำไหลไฟดับจนต้องมีคนเบรค และทุกครั้งที่หัวเราะเขาก็ยังฟันหลอเหมือนเดิม..

พวกคุณยังอยากเจอเขาอยู่ไหม?

ผมยังเป็นคนที่พวกคุณอยากเจออยู่ไหม?

ผมจะไปรอเอาคำตอบนั้นที่ชิตโฮลเมืองทอง..

และก็เหมือนเช่นเคย.. ไม่ว่าผมจะเขียนมายืดยาวสักแค่ไหน เวลาจบผมก็จบกันแบบดื้อๆ อย่างนี้แหละ

และผมก็มักจะถามคำถามเดิมๆ กับคนอ่าน คุณได้อะไรกันบ้างจากการอ่านบทความนี้?

End credit

"ไม่น่าเชื่อเลยว่าหลังจากที่ไม่เจอพี่ตั้มมาเป็นเวลานาน พี่ตั้มจะกลับมาพร้อมบทเพลงและเสียงกีต้าร์เพราะๆ"

เสียงพี่เจนโพล่งขึ้นมาพร้อมกับความรู้สึกค่อนข้างประหลาดใจ

"ก็เพราะผมคือ Jakk Goodday.."

"ผมเคยทำอะไรให้ใครคาดเดาได้ง่ายๆ ด้วยเหรอพี่?"

เอ... หรือว่าที่งานฮาล์ฟวิ่งพวกเราจะมาร้องเพลงกันดีนะ?

@ d34e832d:383f78d0

Harnessing AI with Bitcoin: Introducing PayPerQ

In the realm of artificial intelligence, accessibility and affordability often determine who gets to utilize these advanced technologies. PayPerQ, developed by Matt Ahlborg, aims to democratize access to premium AI by integrating OpenAI's API with Bitcoin payments, specifically using the Bitcoin Lightning network. This innovative approach allows users from around the world to engage with a pay-per-query Chatbot, providing a scalable and cost-effective solution for leveraging AI. Here's a deeper dive into PayPerQ and how it's changing the landscape of AI interactions.

What is PayPerQ?

PayPerQ is a groundbreaking service that merges AI chat capabilities with the flexibility and security of Bitcoin transactions. It enables users to interact with a ChatGPT model, where charges accrue per interaction, calculated based on the length of the input and output text. This model not only ensures users pay only for what they use but also enhances accessibility to cutting-edge AI for users across different economic backgrounds.

How Does PayPerQ Work?

Pricing Mechanics

The cost of each query on PayPerQ is straightforwardly determined by:

• Input Words: The number of words you type into the chat.
• Output Words: The number of words ChatGPT uses to respond.

The pricing model is designed to encourage efficiency in interactions—longer conversations have higher costs, suggesting that starting new chats could be more economical for lengthy discussions.

User-Friendly Controls

To prevent unintended expenses, PayPerQ has set a default maximum context of 2048 tokens. Users have the flexibility to adjust this setting based on their specific needs—a feature that showcases the platform's commitment to user control and customization.

Features and Benefits

Bitcoin Integration

By utilizing the Bitcoin Lightning network, PayPerQ taps into a fast, low-cost payment method that is perfect for microtransactions like those in AI interactions. This integration also signifies a step towards broader financial inclusion, as Bitcoin is increasingly accessible worldwide.

Transparency and Data Privacy

Transparency is central to PayPerQ’s operation. Users can readily access information on how their data is handled, ensuring that they remain informed and in control of their privacy.

Flexible Interaction and Prompt Personalization

PayPerQ supports custom prompts, allowing users to tailor their AI interactions for more personalized and relevant responses. This feature maximizes the utility and flexibility of the ChatGPT model, adapting it to specific user needs or inquiries.

Earning Bitcoin Lightning with AddSlice

For those new to Bitcoin Lightning, PayPerQ recommends using AddSlice, a browser extension that rewards users with Bitcoin Lightning in exchange for viewing ads. This setup not only facilitates easy entry into using PayPerQ but also promotes user engagement through a reward system.

Vision and Invitation for Feedback

Matt Ahlborg's vision for PayPerQ is to make it the go-to AI interface for Bitcoin developers and professionals globally. To achieve this, user feedback is invaluable. PayPerQ encourages users to share their experiences and suggestions, shaping the service to better meet community needs.

For Your Cosideration

PayPerQ represents a significant innovation in making AI interactions more accessible and affordable through the power of Bitcoin. Whether you are a developer, researcher, educator, or enthusiast, PayPerQ provides a flexible and cost-effective platform to explore the capabilities of AI while managing expenses transparently and efficiently.

Experience the future of AI interaction by visiting PayPerQ today, and see how easy and effective it is to integrate cutting-edge technology into your projects and workflows.

PayPerq on Nostr: npub18kzz4lkdtc5n729kvfunxuz287uvu9f64ywhjz43ra482t2y5sks0mx5sz

@ c73818cc:ccd5c890

🖤 Nuvole nere si addensano su Binance, il gigante degli exchange di criptovalute. I problemi legali che Binance sta affrontando in Francia potrebbero bloccargli l'accesso all'intero mercato europeo con l'entrata in vigore delle nuove normative sulle criptovalute.

🖤 Il nodo della questione è la figura di Changpeng Zhao (CZ), fondatore e ex-CEO di Binance. Condannato per riciclaggio di denaro negli Stati Uniti, CZ detiene ancora il 100% delle azioni di Binance France. Questa situazione pone seri dubbi sulla possibilità di Binance di ottenere la licenza MiCA (Markets in Crypto-Assets regulation), necessaria per operare legalmente nell'Unione Europea.

🖤 Se le autorità francesi dovessero negare la licenza a Binance, è probabile che altri stati dell'UE seguano il loro esempio. La presenza di un criminale condannato come unico azionista di Binance France è un ostacolo difficile da superare per ottenere il via libera dagli organi di regolamentazione.

🖤 Separarsi da CZ: Per sopravvivere in Francia come ente regolamentato, Binance potrebbe dover forzatamente cedere la proprietà di CZ. 🖤 Affrontare le indagini in corso: Due indagini aperte in Francia per sospetto riciclaggio di denaro e una causa legale da parte di investitori minacciano ulteriormente le ambizioni europee di Binance.

🖤 Non tutto è perduto per Binance. L'attuale CEO Richard Teng, impegnato a ripulire l'immagine dell'azienda, potrebbe beneficiare dall'intervento delle autorità statunitensi. Le accuse del Dipartimento di Giustizia americano potrebbero costringere Binance ad adottare standard globali più rigorosi di antiriciclaggio, alzando di fatto l'asticella per tutto il settore.

Seguici sui nostri canali social ed unisciti al nostro gruppo Telegram:

https://t.me/Bitcoin_Report_Italia

BitcoinReportItalia #Binance #CZ #KYC #France #Agenda2030 #WEF #BTC #Bitcoin

@ a012dc82:6458a70d

Table Of Content

• Content

• Conclusion

• FAQ

• You May Also Like

• External Links

As of Sunday, the Bitcoin price forecast is still neutral, with BTC stuck in a $16,850–$17,250 range. It seems that Bitcoin miners have given up on the long-term viability of keeping any substantial quantity of the pioneer crypto and are instead selling off massive numbers of Bitcoin.

Reports from CryptoQuant show that on December 1st, bitcoin miners disbursed 10,000 BTC. In comparison to the 2,569 units that were released to the market and sold by miners on November 26th, this number is much smaller.

Joaowedson, an analyst at CryptoQuant, has chimed in on the topic, pointing to the high cost of Bitcoin mining and the sharp decrease in value of the crypto currency as reasons.

Joaowedson added:

The current price of Bitcoin and the high cost of mining in many nations are forcing miners to liquidate their holdings, as stated by Bloomberg.

In their present forms, both the "makers" of the biggest cryptocurrency by market cap and the asset itself are doomed to failure. Miners may no longer turn a profit due to the recent decline in bitcoin's value and the high cost of producing a single bitcoin.

If they keep releasing their work into the market, the price of the cryptocurrency might drop and its volatility could rise. Earnings in the mining sector have been negatively impacted by market downturns in the past.

As of the time this article was published, miners had amassed 814.28 BTC, according to Glassnode. Given this, it's easy to understand why some may assume that Bitcoin's miners aren't compensated in any manner by the network.

The US dollar hit a new monthly low

The decline of the US dollar, which hit a three-month low, was also a major factor boosting BTC prices.

The surprisingly positive employment report was seen as a main factor in curbing the dollar's declines, and investors took advantage of this.

Meanwhile, reports of a 263,000 rise in payrolls by private sector firms in November helped the dollar. This was a far larger increase than the 200,000 that had been expected.

The falls were temporary, reaching a three-month low as a result of the dovish approach.

Putin Calls for Digital Currency Settlements

Vladimir Putin, the president of Russia, has called for a new international settlement system that is unrestrained by banks and other middlemen. According to the Russian leader, it is conceivable to build such a system with the help of digital currency technology and distributed ledgers.

Putin spoke at a symposium held by Sberbank, a major Russian financial institution, about artificial intelligence. He warned that the present condition of close ties between Russia and the West poses a danger to international financial flows and payments.

Vladimir Putin, the Russian president, elaborated:

In light of the current unlawful constraints, it is common knowledge that settlements are a prime target. And since they are constantly exposed to these methods, our financial institutions know this better than anybody.

Putin was alluding to the international sanctions imposed on the Russian Federation for its invasion of neighboring Ukraine, which have severely limited the country's access to global financial and market institutions.

According to the Prime News Service, he also said:

Due to a limited number of nations and financial institutions controlling correspondent accounts and regulations, the cost of making international payments has risen in recent years.

A Look at the Bitcoin Market Price

A total of $15.0 billion has been traded in the last 24 hours at Bitcoin's current price of $17,010. In the previous 24 hours, the BTC/USD exchange rate has risen by more than 0.10 percent. Additionally, its value has climbed by roughly 2.75% in the preceding week.

Source: coinmarketcap.com: Bitcoin Value and Token Economics

The Bitcoin/U.S. dollar exchange rate has been trading sideways in a tight range of $16,800 to $17,250 and has had a hard time breaking above that level.

At $16,900, Bitcoin completed a 23.6% Fibonacci retracement, and closing candles below $16,950 might trigger fresh selling until the $16,750 resistance level is broken.

When looking lower, Bitcoin may target the 50% Fib extension at $16,600, and a break below this level would expose BTC to the 61.8% Fib extension at $16,450.

Conversely, if bulls manage to break through $17,250, BTC might trade as high as $17,650 or even $18,100.

Coins with Massive Potential

Some currencies have done very well despite the market decline, catching the attention of cryptocurrency "whale" investors.

One such token is IMPT, for which the presale period will soon come to a close.

IMPT: 1 Week to Buy This {{text}}3.5 Million Green Crypto

Carbon credit marketplace IMPT is another Ethereum-based platform that will reward buyers for supporting environmentally responsible companies. The company's IMPT token, which can be used to buy NFT-based carbon offsets that may be sold or retired, will be the medium of exchange for these advantages.

With a current price of $0.023 per share, IMPT has raised almost $13.6 million since going public in October. With such overwhelming demand, the token presale for IMPT.io, a brand new platform for carbon offsetting and trading carbon credits, will conclude on December 11th.

Conclusion

During a halving, the pace at which new bitcoins are created for circulation is reduced by half, creating synthetic price inflation throughout the Bitcoin network. By 2140, when the maximum supply of Bitcoin is predicted to be achieved, the rewards system will have been in place for 50 years. Following that, miners will get transaction fees in exchange for their services. As of 2009, miners were awarded 50 bitcoins for successfully completing a block on the blockchain. Following the initial halving, the number of bitcoins in a block dropped from 25 to 12.5, and subsequently to 6.25 on May 11, 2020. The halving of Bitcoin's supply will have profound effects on the network.

FAQ

Is Bitcoin likely to increase in value? In 2024, the highest value of a BTC transaction would be roughly $85,000. Bitcoin's price, along with that of other cryptocurrencies, is expected to rise dramatically in 2024 compared to the previous year.

Which cryptocurrency do you think will see the most growth in 2022? In our opinion, D2T is the next big thing in the cryptocurrency market since it has a solid practical application and investors are already expressing interest in its presale. Other interesting initiatives are RobotEra and IMPT (which will have its IEO on Uniswap on December 14, 2022).

Why is Bitcoin's price going up? The factors that most impact the value of Bitcoin include its supply and demand in the market, its accessibility, the value of other cryptocurrencies, and the mood of investors. There will only ever be a fixed amount of bitcoin in circulation, and the last coin is only expected to be minted in the year 2140.

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.

@ d34e832d:383f78d0

In the ever-evolving world of Finance, Bitcoin ATMs have emerged as a pivotal player in expanding access to digital currency. For entrepreneurs and enthusiasts alike, the idea of running a Bitcoin ATM is an exciting prospect, not only as a business opportunity but also as a way to promote the adoption of Bitcoin. Thanks to innovations in technology and accessibility, setting up your own Bitcoin ATM has become more feasible than ever before. This article provides a step-by-step guide on how to assemble and operate a Bitcoin ATM, featuring a comprehensive kit available from LNbits.

What You Need to Know About Bitcoin ATMs

Bitcoin ATMs offer a straightforward way for individuals to buy Bitcoin using traditional currency, such as banknotes and coins. Unlike conventional ATMs, which connect to a bank account, Bitcoin ATMs link directly to a Bitcoin exchange through the internet and provide an intuitive and secure interface for users to purchase Bitcoin with fiat currency.

The LNbits Bitcoin ATM Kit

The LNbits Bitcoin ATM provides all the necessary components to set up a fully functional Bitcoin ATM. This kit is designed for those who wish to leverage their own LNbits instance to facilitate transactions. Here’s what’s included in the kit:

• ESP32 WT32-SC01: A powerful controller with a built-in touchscreen that serves as the user interface for the ATM.
• DG600F(S) Multi Coin Acceptor: This device allows the ATM to accept multiple types of coins, enhancing its functionality across various regions and currencies.
• NV10USB+ Bill Acceptor: A reliable bill acceptor that enables the machine to take banknotes, a fundamental feature for any ATM.
• Screw Terminal Block: For secure and organized connections between the various components.
• 12v Power Supply and Converter: Ensures that all components receive the correct voltage for safe and efficient operation.
• Male/Female GPIO Jumpers: For easy and flexible connections within the hardware setup.

Setting Up Your Bitcoin ATM

Step 1: Assemble the Hardware

Start by assembling the physical components of the ATM. Connect the ESP32 WT32-SC01 to the inputs from the bill and coin acceptors. Use the GPIO jumpers for connections that might require flexibility or additional length. Secure everything in place using the screw terminal block for a neat and safe setup.

Step 2: Configure the Software

Install and configure the software on the ESP32 WT32-SC01. This will involve setting up your LNbits instance to manage the transactions processed by the ATM. Ensure the software is properly connected and configured to communicate with both the coin acceptor and bill acceptor.

Step 3: Power and Testing

Connect your ATM to the power supply. Carefully test each component to ensure that coins and bills are accepted accurately and that the touchscreen interface is responsive and user-friendly.

Step 4: Location and Security

Choosing the right location is crucial for the success of your Bitcoin ATM. High foot traffic areas such as shopping malls, universities, and coffee shops are ideal. Consider the security of the location; ensuring that your ATM is in a safe, well-lit area can prevent tampering and theft.

Step 5: Marketing and Maintenance

Once your ATM is up and running, focus on marketing your machine to potential users. Regular maintenance checks are vital to ensure that the machine continues to operate smoothly and securely.

For Your Consideration

Running your own Bitcoin ATM can be a rewarding venture that not only profits but also promotes the broader adoption of Bitcoin. With the LNbits Bitcoin ATM kit, assembly and operation are simplified, allowing you to focus on providing value and convenience to users eager to engage with Bitcoin. Get started today by visiting LNbits Bitcoin ATM and take your first step towards becoming a part of the global Bitcoin network.

@ fbe736db:187bb0d5

This is an abridged version of an article published in Bitcoin magazine in June 2022.

This is an article seeking to view bitcoin from a slightly different angle. Let’s consider Bitcoin vs the world’s currencies. How might we compare them in terms of size, and other attributes?

Size

To measure size, it would make sense to look at the value of the monetary base — the most irreducible form of each.

Porkopolis Economics has a table illustrating the stats and I’d recommend the “TFTC: A Bitcoin Podcast” episode #310 (and others previously) with Marty Bent and Matthew Mežinskis for some discussion on this. [Later iterations now exist]

It might surprise you that, on this basis, one of the largest 10 monies in the world (in terms of base money value in circulation) does not belong to a country, but it is internet native. (Spoiler alert, it’s Bitcoin.)

Other properties

Let's have a look at how its properties differ. It offers zero risk-free yield, so isn’t worth holding on that basis compared to fiat currencies. All else equal, fiat currencies will strengthen when their base rate of interest goes up, as one can now realize a higher interest rate when holding them. (Russia is an example earlier in 2022, using interest rate rises as a defensive mechanism when the ruble was falling.)

On the flip side — and this is key — the total amount of its supply that will ever be issued is known, unlike any fiat currency. As fiat currencies inevitably debase faster than bitcoin, demand for bitcoin is likely to persist. Please note, this is not strictly a claim for bitcoin to be a direct inflation hedge, i.e., for the consumer price index (this has been a lazy recent criticism). It is rather that the inflation of the bitcoin supply is already low at approximately 1.8% per year [now 0.9%], with the issuance halving every four years and known with certainty.

Within this natively internet money, there is no coercion within its makeup. No one is compelled by its existence to hold it or to use it; they do so by choice alone. Moreover, it is open to all and permissionless — barriers to entry are little more than a smartphone and an internet connection.

Unlike physically located nation states, it doesn’t bow to any political pressure over its issuance or operations. It can’t be shut down. It’s also very hard to ban people from using it or to confiscate it.

It can’t be mindlessly rehypothecated. Why not? Since it’s extremely portable, divisible and easy to take custody of the underlying asset, holding it via third parties that rehypothecate it introduces counterparty risk, so rational actors will generally avoid it, or at the very least demand market-based compensation for taking on that risk.

Bitcoin is freely traded 24/7, 365 days per year, and the costs of exchanging it are likely to be driven ever lower by competition over time. Of course, its exchange rate (this term is a better framing than “price” in this discussion) is highly volatile. This is in contrast to currencies where there may be restrictions on trading and governments may intervene in currency markets. As may be logical, the bitcoin exchange rate flourishes in times of debasement of other currencies but struggles in periods of them tightening. (Examples of recent dollar tightening are 2018 and 2022, so far.)

Fiat currencies certainly have huge sources of demand for them that bitcoin currently doesn’t have, namely to meet future transactions priced in those currencies. These could comprise taxes due, or payments for goods and services, or investment into properties, equities, etc. Commodity wise, much is made of the relevance to oil being globally priced in dollars. This undoubtedly has contributed to the number of foreign nations holding dollars in their reserves. Why? If the oil price in dollars can remain relatively stable, holding dollars will help closer match the cost of future energy needs than another currency.

I deliberately hesitate to term “bitcoin” as a currency by the way. It is another lazy criticism that it has already failed to have the qualities required to be one. I think the Bitcoin white paper avoided the word for good reason. Bitcoin has many years and decades ahead for sovereign nations to decide to adopt it as a currency or not, but that will not change its operations.

In Summary

Due to its fixed supply and other unique attributes, it’s only logical that many have started exchanging other, more rapidly debasing currencies for bitcoin. Undoubtedly, there are many short-term traders around, but the long-term exchange rate is likely driven more by those taking a long-term outlook in their positions to ride out the volatility. Note this is not “investing”; bitcoin is a form of money. It’s saving.

What about altcoins as competing money? We don’t see them in the aforementioned top 10. Take the time to learn why bitcoin has no meaningful competitors in the above context. Why proof of work is so important to bitcoin’s immutability and fully decentralized nature. And why any additional “utility” developed in another altcoin appears meaningless if they can’t match bitcoin’s monetary properties — they can’t.

Just like conventional currency exchange rates or baskets, such as the DXY (a commonly observed basket of the Great Britain pound, euro, Canadian dollar, Swiss franc, Swedish krona and Japanese yen against the dollar), it’s pretty tricky to predict where bitcoin will hit any particular price level in future. As we’ve seen above, bitcoin has several interesting and unique attributes as money when compared to fiat currencies. These make it likely that demand for it will continue to increase as fiat currencies compete to debase. As Bitcoiners often say, it’s just math (or as they should say, given I'm a Brit, maths!).

@ 1931b5e4:168a0489

I kept getting drawn to a post Scarcity Makes Everything Desirable (Including Bitcoin) and I had so many thoughts run through my head at the time that I couldn't process them in order to answer, and as I said I would I have sat down now to tap them out on my keyboard and hope that they make sense.

I came to one conclusion very quickly... I can't answer it as @Coinsreporter wanted which was to:

enlighten this post with your perception of scarcity in terms of Bitcoin

So because of this I decided that it was best to write my own post rather than reply to @Coinsreporter and give my thoughts on scarcity.

In my short (nearly) 39 years living this human experience I have always been fascinated with people's need for things. I suppose that came from my apparent lack of when I was in my younger years. I watched in awe as the kids in school would swap football cards, play with their tamagotchi's or come to the playground with a headband that had their name written on it! Now I was a bit of a 'weird' kid and I never got jealous for not having those things, in fact I never even wanted them, however what I did want was to be part of the group and make friends. And that, for the weird kid was not on the cards for me. Of course, as I got older the things were different. When people were getting their first cars they were going for the latest model in this or that, their first house would seem to be decorated perfectly in line with the latest fashion, and their first babies would be dressed in the latest designer clothes.

Now maybe it's the way I was raised, but I have never felt the need to do all this. And, if you came round to my house you would see that I live in what appears to be scarcity. If a burglar came into my house, they would leave with an Xbox that belongs to my son and maybe the lawn mower which I leave outside! There is nothing really for them to steal! (I don't even own a TV).

I know though that I am a rarity here.

Where am I going with this - jeez I can ramble!

From what I can see, the world has been set up in a way now where the majority feel as though they are living in scarcity. We are being fear mongered into believing that this is the truth, and we are being hood winked into giving all our money to the rich, to get richer.

And, the worst thing is - we are well aware that this is what we are doing! They aren't even hiding it from us anymore and we are just allowing them to get away with it, because we have been taught that this is just how it is! "Those bloody 1%". Seriously, if I was handed a penny every time I heard that, I would be able to give the damn Xbox to the burglar!

Right now, with society allowing the few who appear to be in power to herd us like sheep, then I have to say that we are NOT set up for true scarcity because we have been led to believe that we are already there, when we are not!

The world has enough food to feed everyone in it - the problem is the distribution AND what we eat. The world has enough gold for us all to be well off and trade in whatever way we want to - the problem is the distribution. The world has enough water - the problem is the distribution AND pollution. The world has enough technology to create a safe planet without destroying it - it's about access. The world has enough knowledge to teach everyone who wants to learn - it's about access.

The world however also has mankind. The 99% who need to become aware that they have the ability to create their own lives and write their own stories and do not need to follow the 1% seemingly in power. If the 99% did that we may face scarcity for a while as the seemingly in power would fight back as hard as they could, but if we stood up to them and stopped allowing them to get away with things then they wouldn't hold that power.

Simply - we do not have a scarcity problem - we are told that we do and then tell ourselves that we do.

However, until people wake up and take back ownership of their own lives then people like me will still be the weird kid. And... if Bitcoin is going to allow me as someone who is awake to keep ownership of my life then I am all for it!

@ c73818cc:ccd5c890

🐱 L'FBI ha lanciato un avviso che mette in guardia gli americani dall'utilizzo di servizi di trasmissione di denaro crittografico non conformi alle procedure KYC ("Know Your Customer"). Un nuovo attacco all'autocustodia e alla libertà finanziaria degli utenti di Bitcoin.

👁 Cosa comporta l'avviso dell'FBI:

🐱 Limitazione dell'accesso a servizi di criptovaluta: Gli utenti che non si conformano alle procedure KYC potrebbero avere difficoltà ad accedere a servizi di criptovaluta, ostacolando il loro diritto a utilizzare Bitcoin come metodo di pagamento. 🐱 Controllo centralizzato delle transazioni: L'implementazione di procedure KYC conferisce alle autorità il potere di monitorare e controllare le transazioni in criptovaluta, minando la privacy e la natura decentralizzata di Bitcoin. 🐱 Criminalizzazione dell'autocustodia: L'avviso dell'FBI potrebbe essere interpretato come un tentativo di criminalizzare l'autocustodia di Bitcoin, ostacolando il diritto degli individui di gestire autonomamente i propri fondi.

👁 Perché questa è una minaccia per Bitcoin e per la libertà individuale:

🐱 Violazione del principio di autocustodia: Bitcoin è nato per permettere agli individui di gestire autonomamente i propri fondi senza intermediari. L'imposizione di procedure KYC mina questo principio fondamentale. 🐱 Minaccia alla privacy: Le procedure KYC richiedono la raccolta di dati personali degli utenti, esponendoli a rischi di sorveglianza e controllo da parte delle autorità. 🐱 Centralizzazione del potere: L'obbligo di conformarsi alle procedure KYC conferisce alle autorità un controllo eccessivo sulle transazioni in criptovaluta, centralizzando il potere e minando la natura decentralizzata di Bitcoin.

👁 Come possiamo difendere la nostra libertà finanziaria e il Bitcoin:

🐱 Sostenere soluzioni di autocustodia: Utilizzare portafogli hardware e software che permettono di gestire autonomamente i propri Bitcoin senza affidarsi a terzi. 🐱 Promuovere l'adozione di Bitcoin senza KYC: Sostenere servizi e piattaforme che non richiedono la conformità alle procedure KYC per l'utilizzo di Bitcoin. 🐱 Educare e sensibilizzare: Informare la comunità sugli ideali che muovono Bitcoin e che erano perseguiti nell'ambiente da cui è nato, diffondere aggiornamenti sull'avanzare di queste minacce da parte delle istituzioni e spiegare la natura di Bitcoin come strumento di emancipazione dalle istituzioni, andando oltre al lato speculativo.

Seguici sui nostri canali social ed unisciti al nostro gruppo Telegram:

https://t.me/Bitcoin_Report_Italia

BitcoinReportItalia #FBI #Privacy #KYC #Libertà #USA #Agenda2030 #WEF #BTC #Bitcoin

@ 5d4b6c8d:8a1c1ee3

Anthony Edwards is looking like the next in a long line of great NBA wings. Michael Jordan has become the exemplar of this group (for obvious reasons), but at the time even Michael Jordan was the next somebody.

In the table below, I've jotted down stats from recognizable periods of each great wing's career. Can you identify who's who?

The options are, in chronological order * Dr. J * MJ * Kobe * Jimmy Buckets * Kawhi * Ant Man

| Stat | Player 1 | Player 2 | Player 3 | Player 4 | Player 5 | Player 6 | |------|----------|----------|----------|----------|----------|----------| |Points | 30.1 | 27.1| 27.4 | 28.6 | 29.8 | 26.4 | | eFG% | .509 | .518 | .482 | .565 | .572 | .511 | | Rebounds | 6.2 | 6.8 | 5.4 | 8.2 | 5.6 | 9.3 | | Assists | 5.3 | 5.3 | 5.1 | 4.3 | 4.5 | 4.7 | | Steals | 2.3 | 1.9 | 1.5 | 2.0 | 1.6 | 1.8 | | Blocks | 0.8 | 0.6 | 0.7 | 0.8 | 1.4 | 1.8 |

There'll be some sort of prize based on correctness of matches.

@ d34e832d:383f78d0

The Open Source Movement has transformed the landscape of software development and beyond, democratizing access to information and fostering a global collaborative environment. This movement, characterized by freely accessible, modifiable, and sharable software code, has become a powerful catalyst for innovation, reshaping how technologies are developed, distributed, and improved.

Democratizing Software Development

Open source software (OSS) offers a progressive model where knowledge, tools, and code are openly shared. This approach allows both individuals and organizations worldwide to contribute to and benefit from collective wisdom without barriers. Projects like Bitcoin, detailed through numerous GitHub discussions and contributions, underscore the significant impact of open source methodologies in complex fields such as cryptography and blockchain technology.

Key Benefits of Open Source:

• Collaboration: Open source projects harness the collective intelligence of developers worldwide, accelerating problem-solving and innovation.
• Transparency: With open access to code, users and developers can examine the functionality and security of the software, fostering trust and reliability.
• Flexibility: Users can modify software to meet their specific needs, which promotes a personalized approach to software utilization and improvement.

Meritocracy in Action

One of the most compelling aspects of the open source model is its emphasis on meritocracy where the value of ideas supersedes the stature of their contributors. This ethos is evident in platforms like GitHub, where a diverse group of developers can propose, refine, and implement enhancements in a collaborative manner. For instance, Bitcoin’s evolution on GitHub illustrates dynamic discussions that lead to continuous enhancements, guided by the collective expertise of the community.

```

"The open source model thrives on collaboration and meritocracy, ensuring that the best ideas prevail in the development lifecycle." ```

Broader Implications for Innovation

While open source began as a movement within software development, its principles have permeated other areas:

• Hardware: Open source hardware projects allow for physical products to be developed collaboratively and transparently.
• Education: Free access to educational resources broadens learning opportunities, empowering students globally.
• Research: Open research promotes a faster exchange of knowledge and cooperative advancements in science.

These examples highlight the versatility and expansive potential of open source principles, influencing sectors beyond traditional software development and contributing to a global culture of shared innovation.

Challenges and Considerations

Despite its many advantages, the open source model presents challenges such as ensuring sustainable project funding, managing varying quality contributions, and protecting intellectual property without stifling collaboration. Effective community management, clear licensing agreements, and robust governance models are essential for addressing these challenges.

Closing

The Open Source Movement continues to be a significant force in shaping the modern technological landscape. By fostering an environment where information is free and accessible, where innovation thrives on collaboration, and where education is uninhibited by access barriers, open source principles champion a future of inclusive growth and continuous innovation.

For developers, businesses, and academics, engaging in open source projects offers a pathway to participate in cutting-edge developments and contribute to collective advancements. It represents not just a technical methodology, but a philosophy that promotes openness, inclusivity, and the endless pursuit of knowledge.

Further exploration and contributions can be made through platforms like GitHub, where many open source projects, including Bitcoin, continue to evolve.

---

Sources

For further insights into the discussions and developments within these open source projects, refer to: - Bitcoin Pull Request Comment #17901 - Bitcoin Issue Discussion #18580 - Bitcoin Pull Request Review #21778

@ e42dd2a2:eeddb96f

test test test

@ d34e832d:383f78d0

In the world of software development, GitHub stands out as a central hub for collaboration and version control. Utilizing Git, an open-source version control system, GitHub provides a powerful platform for managing projects, tracking changes, and fostering collaboration among developers. Whether you are a seasoned coder or just starting out, understanding how to effectively use GitHub can greatly enhance your coding projects and collaborations.

About GitHub

GitHub is essentially a cloud-based service that hosts Git repositories, or "repos," where you can store, manage, and track your coding projects. It offers a plethora of functionalities including:

• Project Showcasing: Display your work for public view, which is particularly beneficial for portfolio building or open-source projects.
• Change Management: Keep a detailed record of modifications in your project over time, making rollback and error identification simpler.
• Code Review: Allow others to scrutinize your code and suggest improvements.
• Collaborative Projects: Work with other developers without the risk of immediately altering the main project.

GitHub’s environment supports these activities by providing tools for reviewing code, managing projects, and building software alongside millions of other developers.

About Git

Git, the backbone of GitHub, is a version control system that manages and stores revisions of projects. Git is indispensable for managing complex projects that require many developers working on the same files simultaneously. Here’s how Git typically works within a project:

• Branching: Create independent branches from the main project to work without affecting the core project.
• Commits: Save changes to your branch, creating a transparent history of your modifications.
• Merging: Combine changes from your branch back to the main project, allowing Git to intelligently merge without losing track of parallel updates.

How Do Git and GitHub Interact?

When you use GitHub, you operate within repositories that utilize Git's version control capabilities. You can perform several Git operations directly on GitHub, such as:

• Creating and managing repositories.
• Making branches.
• Committing changes online.

For local development, common practice is:

• Sync Local and Remote Repositories: Use tools like GitHub Desktop or command-line instructions to keep your local projects aligned with GitHub.
• Collaborate Seamlessly: Pull the latest updates from GitHub, make changes locally, and push back to GitHub for integrated updates.

Getting Started on GitHub

For newcomers, the journey begins by understanding and using GitHub’s web functionalities:

1. Create a GitHub Account: Start by setting up your account on GitHub.
2. Learn GitHub Flow: Understand the principles of branches, commits, pull requests (PR), and merges.
3. Personalize Your Profile: Enhance your profile to showcase your projects and skills.
4. Explore and Connect: Find projects that inspire you and connect with other developers.

First Steps:

• Navigating GitHub: Familiarize yourself with the user interface and various functionalities.
• Creating Your First Repository: Learn how to create and manage your coding projects on GitHub.
• Making Your First Commit: Understand how to make changes and commit them to your repository.

Next Steps

Once you have the basics handled: - Explore further by Creating an account on GitHub. - Dive into more detailed functionalities such as branch management and PRs.

To Consider

GitHub, paired with the powerful Git version control system, provides a robust framework for managing development projects. By facilitating collaboration, enhancing code transparency, and supporting effective project management, GitHub empowers developers to achieve more and collaborate effectively, regardless of geographical boundaries.

Get started on your journey into GitHub and discover the vast potential of this essential tool in modern development. Happy coding!

Establishing Trust in GitHub Contributions: The Importance of Verifying Keys and Creating a Web of Trust Protocol

In the vast, collaborative arena of software development on GitHub, where countless contributors merge their efforts to forge innovative projects, ensuring the integrity and authenticity of contributions is paramount. The verification of contributors' keys and the establishment of a robust Web of Trust protocol are critical practices for securing open-source projects. This article explores the importance of these security measures and how they can be implemented effectively within the GitHub ecosystem.

Why Key Verification Matters

Key verification is the process of ensuring that commits and tags are actually made by the entity they claim to originate from. In the context of GitHub and Git, keys refer primarily to GPG (GNU Privacy Guard) or SSH (Secure Shell) keys that are used to sign data digitally. This practice is essential because it:

• Prevents Spoofing: Ensures that contributions cannot be falsely attributed to someone else, which is crucial in preventing malicious code submissions.
• Reinforces Integrity: Helps maintain the integrity of the project’s codebase by verifying that commits and merges are from trusted and verifiable sources.
• Builds Credibility: Increases the credibility of a project by showing that the maintainers are committed to security and diligent in their governance practices.

Creating a Web of Trust

A Web of Trust is a decentralized security model for verifying digital keys. In this model, trust is established through a network of individual users who verify and sign each other’s keys. This creates a framework where the verification of one’s identity is crowd-sourced among trusted parties rather than relying on a central authority. Implementing a Web of Trust in the GitHub community can:

• Enhance Collaborative Trust: In large projects with numerous contributors, a Web of Trust helps in verifying that all participants are who they say they are.
• Facilitate Scaling Security: As projects grow and attract more contributors, a Web of Trust scales the security measures by distributing the responsibility of trust verification across multiple, credible parties.
• Improve Response to Security Incidents: A robust network of trusted contributors can respond more effectively to security breaches or vulnerabilities.

Implementing Key Verification and Web of Trust on GitHub

Step 1: Integrating GPG Key Verification

1. Generate or Import a GPG Key: Contributors should start by generating their own GPG keys or importing existing ones into their development environment.
2. Add GPG Keys to GitHub Account: Users must add their public GPG key to their GitHub account settings which allows GitHub to verify their signed commits.
3. Sign Commits and Tags: Contributors should configure their Git tools to sign commits and tags with their GPG key, ensuring that their cryptographic signature accompanies every change.

shell git config --global commit.gpgsign true git config --global user.signingkey YOUR_GPG_KEY_ID

Step 2: Establishing a Web of Trust

1. Community Key Signing: Organize or participate in key signing parties or events where GitHub contributors can meet (either virtually or in person) to verify identities and sign each other's keys.
2. Publish and Share Trust Signatures: Contributors should publish their signed keys and trust signatures in a publicly accessible venue or directly on their GitHub profiles.
3. Verify and Rely on Trusted Keys: When cloning or forking repositories, developers should verify the signatures against the Web of Trust to ensure all contributions are from trusted sources.

Case in closing

In an era of heightened cybersecurity risks, the importance of verifying keys and establishing a Web of Trust cannot be overstated in the context of GitHub contributions. These practices bolster the security of projects, protect the integrity of code, and build a foundation of trust within the developer community. As contributors and maintainers of open-source projects, embracing these protocols is a step towards a more secure and reliable software development ecosystem.

By fostering an environment where trust and security are paramount, the GitHub community can continue to thrive and drive forward the innovation that has cemented its place at the forefront of software development.

@ fbe736db:187bb0d5

A version of this was published in Bitcoin magazine in February 2022.

What Is An Annuity, And Why Do They Matter?

An annuity is generally a fixed sum of money paid to someone each year, often defined as payable for the rest of their life. These have typically been purchased from insurance companies upon retirement. A typical annuity quote would be something like, in exchange for every £15 (~US$20.34) of up front cost, I will pay you £1 (~US$1.36) of income each year. These are an important part of the pensions landscape. This is particularly true for personal pensions or defined contribution pensions, which now make up the majority of pension arrangements in the U.K., where individuals have their own distinct pension “pot” or allocation.

Hence, the cost of an annuity can be conceptualized as the cost of retirement, since it forms the link between the pot of money being saved up, and the guaranteed income that can be realized from that.

Why Have Annuities Been Given A Bad Name?

This “cost of retirement” has been vastly increasing in recent years. As the examples at thislink illustrate, the income paid in exchange for a £100,000 (~US$135,522) fund for a 65-year-old has decreased from just over £7,000 (~US$9,486) in December 2006 to around £5,100 (~US$6,911) in December 2021. This example is for a simple single-life pension (no dependents pension is paid) with no guarantee period or other complexities. [link may now show updated values]

Put another way, if you want a set income payable to you in retirement as an annuity, you now have to save ~25% more than someone retiring at the same age 15 years ago.

Moreover, £5,100 (~US$6,911) is the pension payable that does not increase over time. If we want our annuity to increase by 3% per year, our £100,000 (~US$135,522) will currently only pay us a starting annual amount of £3,400 (~US$4,607). If we live for 20 years, this annual amount will have grown to £6,141 (~US$8,322), which helps explain the much lower starting pension.

There are two main reasons for the far higher annuity prices in the last 15 years. Firstly, government bond yields have fallen hugely. The 15-year annualized U.K. gilt (government bonds) yield has fallen from roughly 4.7% to 1.15% over this period. Annuity providers price based on this, as they invest the up front annuity cost into U.K. gilts to derive a risk free return on your fund before they have to pay out the income to you each year. A lower gilt yield means a lower return on the underlying investments and hence a worse annuity conversion rate.

Secondly, life expectancy has increased over the last 15 years, too. While this should be greeted generally as good news, it will naturally be reflected in annuity pricing by insurers. With that said, the driver for the higher annuity rates as quoted above has been overwhelmingly driven by the first factor — the huge interest rate changes.

This is relatively easy to validate for yourself in an annuity calculator, such as this one here. Leave the withdrawal amount blank (to be solved for) and enter interval = “yearly,” starting principal = “100,000,” annual growth rate = “1.15%” and length of annuity = “22 years,” and then compare the result to the same inputs but with an interest rate of “4.7%.”

Given these worsening annuity rates, the U.K. media has been somewhat scathing in terms of the value annuities offer. This has coincided (and may have helped drive) with the relatively recent advent of “pensions freedom“ rules in the U.K. Put simply, these allow individuals to avoid having to buy an annuity with a defined contribution pension pot and be able to draw it down in their retirement as and when convenient.

These freedoms have generally proven popular, and annuity purchases have fallen considerably. However, by drawing down a pot of money, there is considerable danger of drawing down too much early on (the common media refrain was that pensioners would splurge on Lamborghinis immediately on retiring), or, as is closer to reality, drawing down too little. There is also the danger that if not suitably invested, a bear market at the wrong time can severely dent your pension pot. Studies have shown that if this happens early in retirement, alongside having to take out regular income to live on, the fund level may never fully recover even despite a later upswing.

The irony remains that the concept of an annuity is still a pretty sound one, as nobody knows how long they are going to live for! Guaranteeing a set level of income in retirement through purchasing an annuity brings considerable peace of mind. However, the public have an innate sense that they are a bad value, and given it’s akin at the moment to locking in to an annual return of 1.15% when inflation is far higher, it’s hard to disagree.

What Would A Bitcoin Annuity Look Like?

So how could Bitcoin come in? Let’s consider that, one day, insurers offer Bitcoin annuities. These would pay a regular bitcoin income for life in exchange for a lump sum of bitcoin up front. How would that market differ?

My first assumption is that Bitcoin offers no risk-free rate, and hence, the insurer would price the annuity rate at an interest rate of 0%. Based on the current pricing and adjusting the interest rate to zero, I’d estimate it would pay 4,545,000 sats per year from a fund of one bitcoin. This is a higher conversion rate than the £3,400 (~US$5,870) annuity increasing at 3% each year (4,545 versus 3,400, from each 100,000 units) which is ultimately priced on a negative real interest rate. For a bitcoin-denominated annuity, we would not require an increasing annuity over time, since we trust the value to hold as a fixed proportion of the overall supply.

At this point, there are some obvious questions and criticisms. Firstly, if the insurer is not deriving any return with the bitcoin we pass to it to purchase the annuity, and simply gradually gives it back to us, what’s the point? The answer, of course, is in pooling longevity experience among a large group of individuals. An annuity gives you a guaranteed income for life, and in this sense, it’s still a worthwhile product. Indeed, the original concept of an annuity is an age-old one.

Other bitcoiners may also counter that it’s never worth spending your bitcoin. The concept is more a future one for if bitcoin ever reached the point of a dependable sound money that individuals save and spend in equal measure, and no longer seen as an emerging store of value. And even on a future bitcoin standard, the ebb and flow of life remains, nearly everyone has to save in their younger years to help fund retirement costs in later years. You’re also taking on the credit risk of the insurer, but this has always been the case when purchasing an annuity.

Within this point though, here’s the current elephant in the room. Individuals are unlikely to demand a bitcoin annuity product to meet basic income needs in retirement while the purchasing power of bitcoin is so volatile in fiat terms.

To conclude, in the much longer term, a less volatile bitcoin price in the future could breathe new life into the concept of an annuity, both priced in bitcoin and paying out bitcoin. For the time being, annuities will likely remain unpopular as they offer poor value with government bond yields so low. One day, bitcoin-based annuities might restore the obvious value proposition that comes from pooling life expectancy for a large group of individuals to provide each a steady income in retirement.

Added comment — October 2022

Amazingly, over the last 8 months since writing this article, the 15 year gilt yield has completely reversed its falls from the 15 year period referenced! In that sense, the annuity in £ terms (or indeed dollars also) is now likely to be far better priced than it was 8 months ago. Of course, this doesn’t mean it will end up offering good value in real terms, versus inflation to come over the lifetime of the annuity.

Save for any changes in life expectancy, the price of a Bitcoin annuity (since it was based on a 0% risk free rate) would be completely unchanged.

@ fbe736db:187bb0d5

This is a slightly abridged version of an article written for Bitcoin magazine in Jan 2022.

I’ll start with some bad news. Unfortunately, the world of cryptocurrency has somewhat misappropriated Einstein’s name. There is the Canadian Einstein exchange, which collapsed into thin air in 2019.

There is also the recently released Einstein token, part of whose timeline is below:

“April 2021, Phase 1, Launch of website and social media channels. Creation of an overarching marketing strategy; multiple partnerships with influencers forged.”

I stopped reading at this point.

This is unfortunate, as there is much to ponder from Einstein’s wide and varied public quotations made throughout his life. These lead us not to dubious crypto exchanges or “scientific” cryptocurrencies but back to Bitcoin itself. Read on, and rest assured no knowledge of theoretical physics required..

On Thermodynamics

Let’s start close to home.

“Classical thermodynamics … is the only physical theory of universal content which I am convinced … will never be overthrown.”

Disclaimer: I’m not a physicist. Essentially though, the first law of thermodynamics states that energy cannot be created or destroyed, only change in form or be transferred. The second law posits that in every transfer, there is some amount that’s unusable or wasted. Over time, this will tend to increase disorder.

Michael Saylor has spoken eloquently on this subject, saying that Bitcoin is a conservative monetary system, and the first monetary system devised that respects the laws of thermodynamics.

Bitcoin is a closed-end system, with minimal energy loss within the proof-of-work framework. A bitcoin largely remains a bitcoin, whether transferred over time or space. The inflation within the system, essentially the rewards for mining, can be seen as a “loss,” as can the transaction fees, but both are wholly necessary for the network to properly function. Any system respecting the laws of thermodynamics will have an inevitable friction. A proof-of-stake system cannot achieve this with the same trustless integrity.

https://image.nostr.build/fec98ce738e600085c4d98b9a4306f7d29a7b59f245dfc3cbd62d8df1608a5c5.jpg

On Simplicity

“Everything must be made as simple as possible. But not simpler.”

(It’s worth noting that the internet is full of quotations falsely attributed to Einstein, for example, “The definition of insanity is doing the same thing over and over and expecting different results.” In this article, I’ve tried to avoid falling into this trap. For completeness, the above quote is likely a paraphrase from a longer quotation in a 1933 lecture that Einstein gave, albeit with much the same meaning.)

Bitcoin wholly satisfies this simple but no simpler criteria. Satoshi Nakamoto ‘s Bitcoin white paper runs to just nine pages. Let’s consider even the first line of the white paper.

“A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.”

This first sentence alone sets the tone. Shakespearean in its quality, in that, it would not be possible to remove any further words without removing meaning. The codebase upon which Bitcoin is run is also famously sparse. The original comprised only around 9,000 lines of code, nothing compared to many other copies, upon which layers upon layers of complexity have been added.

And how about this world of altcoins? What would Einstein have made of air drops, yield farming, atomic swaps, gas, proof of stake, rehypothecation, staking? They don't pass the above mantra.

On Innovation

“I think and think for months and years. Ninety-nine times, the conclusion is false. The hundredth time, I am right.”

It is a common misconception that other altcoins will innovate Bitcoin out of existence by improving on its design, consigning it to be the “Myspace” of cryptocurrency. This falls away once you fully understand Bitcoin’s distributed nature, its security model, and that its design can’t be significantly improved by any copy without losing the elements that make it unique. As Vijay Boyapati has commented in his book “The Bullish Case for Bitcoin,” some mistakenly focus on technological attributes and not enough on monetary attributes.

> On Education and Learning

“The important thing is not to stop questioning. Curiosity has its own reason for existing.”

“Thus, the wit was not wrong who defined education in this way: Education is that which remains, if one has forgotten everything he learned in school.”

The second half of this quote is commonly attributed to Einstein (and often changed to “after one has forgotten” rather than “if one has forgotten”). In reality, it actually predates him in various forms, but he did refer to it in writing himself (Einstein not knowing the exact origins himself but referring to them as a “wit”).

It is striking how many bitcoiners would agree with these lines. While this is convenient as a Bitcoin narrative, it’s hardly in the mainstream syllabus. Bitcoin requires a certain curiosity and leads in all sorts of directions.

https://twitter.com/maxhodlbtc/status/1447580338658500609

Moreover, understanding Bitcoin entails knowing that it was built after years of other attempts, combining many concepts such as such as public key cryptography, Pretty Good Privacy (PGP), proof of work, and so on. Built on the shoulders of giants. In terms of the quote above, Bitcoin is the hundredth time, and it is right.

On Truth And Understanding

“Blind obedience to authority is the greatest enemy of truth.”

Einstein wrote this in a letter in his early 20s. Bitcoiners, of course, tend to have a certain suspicion of authority, given how hostile governments and central banks worldwide are to Bitcoin. In addition, of course, it requires no authority to operate.

“The eternal mystery of the world is its comprehensibility.”

It is ironic given that the Western world has generally dismissed the idea of centrally planned economies, that we still (and more so now than ever) persist with centrally planned money. The notions of Nassim Nicholas Taleb, particularly in his book “ Fooled by Randomness,” spring to mind: people vastly overestimating their understanding of complex systems. Life is complex.

On War And Peace

“Peace cannot be kept by force. It can only be achieved by understanding. You cannot subjugate a nation forcibly unless you wipe out every man, woman and child. Unless you wish to use such drastic measures, you must find a way of settling your disputes without resort to arms. The unleashed power of the atom has changed everything save our modes of thinking and we thus drift towards unparalleled catastrophe.”

The first line of the above is commonly quoted alone, but the remainder is key for understanding the meaning. Einstein said this in a speech in 1930. It was strikingly prescient; within 15 years, the escalation of warfare had reached such a point that nations could entirely wipe each other out. The quote below, in 1946, continues on this theme.

“Many persons have inquired concerning a recent message of mine that ‘a new type of thinking is essential if mankind is to survive and move to higher levels’. Often in evolutionary processes a species must adapt to new conditions in order to survive. Today the atomic bomb has altered profoundly the nature of the world as we knew it, and the human race consequently finds itself in a new habitat to which it must adapt its thinking. In the light of new knowledge, a world authority and an eventual world state are not just desirable in the name of brotherhood, they are necessary for survival. In previous ages a nation’s life and culture could be protected to some extent by the growth of armies in competition. Today we must abandon competition and secure cooperation. This must be the central fact in all our considerations of international affairs; otherwise we face certain disaster. Past thinking and methods did not prevent world wars. Future thinking must prevent wars.”

I believe this actual passage is one of the closest to the line often attributed to Einstein: “We can’t solve problems by using the same kind of thinking we used when we created them.” There are large parallels here with the thoughts of Jason Lowery, a U.S. National Defense Fellow researching Bitcoin. Lowery argues that, via Bitcoin, we now have a digital synthetic commodity that is starting to remove the monetary premium from other physical assets, which are currently fought over, protected and defended by militaries. That’s not to say these assets won’t always have some value, just that their value will be reduced. It is far harder to attack or steal bitcoin if properly protected (be that by an individual, company or nation-state) than almost any other asset.

Essentially, this could bring about a more peaceful society, which comes about due to a universal understanding of the immutable digital property rights that Bitcoin confers. These are arrived at and continuously updated over time by an unarguable, ongoing consensus on the timechain (blockchain). Hence, this “understanding,” as far as Bitcoin is concerned, is universal.

Another interesting facet around Einstein’s quote above is the necessity of a world authority and eventual world state to which he refers. In the year 2021, the main barrier to that becoming a reality would surely be one of trust. In its operations, Bitcoin removes the need for any one party to trust any other. Hence, to the extent that a global sound money can benefit the world, it is at least part of the solution to that issue to which Einstein refers.

Would Einstein have been a Bitcoiner?

On evidence found by Level39, probably not.

“The gold standard has, in my opinion, the serious disadvantage that a shortage in the supply of gold automatically leads to a contraction of credit and also of the amount of currency in circulation, to which contraction prices and wages cannot adjust themselves sufficiently quickly. The natural remedies for our troubles are, in my opinion, as follows:

(1) A statutory reduction of working hours, graduated for each department of industry, in order to get rid of unemployment, combined with the fixing of minimum wages for the purposes of adjusting the purchasing-power of the masses to the amount of goods available.

(2) Control of the amount of money in circulation and of the volume of credit in such a way to keep the price-level steady, all special protection being abolished.

(3) Statutory limitation of prices for such articles as have been practically withdrawn from free competition by monopolies or the formation of cartels.”

With that said, he was a bright guy.. He probably would have figured it out by now:)

And let's conclude with this one -

"I never think of the future. It comes soon enough."

@ d34e832d:383f78d0

Revolutionizing Node Management with Core Lightning (CLN)

In the evolving landscape of cryptocurrency, running a Lightning node has become more accessible and efficient thanks to innovations by Core Lightning (CLN). Whether you’re a business aiming to streamline your operations or an individual enthusiast looking to take control of your financial activity, CLN stands out as a powerful solution. Here's why you should consider exploring Greenlight by CLN, along with its myriad of groundbreaking features and benefits.

Key Features of Running a Core Lightning Node

Fast Setup and Customization

• Quick Compilation: CLN is engineered for speed, allowing users a swift setup process.
• Tailored for Businesses: The infrastructure of CLN can be customized to meet enterprise needs, making it a versatile option for different scales of operations.

Innovative Channel Management

• Dual-Funded Channels: CLN is the pioneer in supporting decentralized dual-funded channels, enhancing the flexibility and efficiency of operations.
• Cost and Time Efficiency: Setting up and running your node is made cost-effective through balanced channels, ensuring monetary and temporal efficiency.
• Dynamic Rebalancing: With features like PeerSwap, you can rebalance your channels using on-chain assets, enabling immediate routing and receipt of payments.

Enhanced Privacy Features

• Blinded Payment Paths: This experimental feature enhances the privacy of CLN nodes by masking sensitive information when receiving payments.
• Advanced Payment Techniques: Multi-part payments are automated, and the path selection is randomized, increasing the anonymity of transactions.
• Channel Diversity: Users can select a diverse set of channels, bolstering defenses against de-anonymization techniques.

Extensibility through Plugins

CLN’s architecture is uniquely designed to be fully modular, supporting a wide range of plugins that can be written in any popular programming language. This offers unmatched flexibility and the ability to tailor functionality to specific needs.

• Plugin Support: Users can power-up their CLN node with custom plugins, extending the functionality and integrating with existing systems seamlessly.
• Research-Backed Development: All development is spec-driven, maintained by the skilled research team at Blockstream, ensuring reliability and forward compatibility.

Feature Comparison Between Lightning Implementations

When compared to other implementations like LND and Eclair, CLN offers distinct advantages:

• Fully Modular vs. Monolithic: Unlike the monolithic architectures of LND and Eclair, CLN’s fully modular design provides better customization and easier maintenance.
• Privacy and Automation: Features like Multi-Part Payments and route randomization are default in CLN, providing superior privacy. Full automation is achievable with the CLBOSS plugin, surpassing the automation capabilities of its peers.

| Feature | Core Lightning (CLN) | LND | Eclair | |--------------------|-----------------------|-------------------|--------------------| | Architecture | Fully Modular | Monolithic | Monolithic | | Privacy | Advanced (default) | Optional | Optional | | Automation | Full with CLBOSS | Limited | None | | API | GRPC, JSON-RPC | GRPC, REST-API | JSON-API | | Liquidity Management| P2P with ads | Centralized | Manual |

Navigating the Future with CLN

By utilizing Core Lightning (CLN), users can not only enhance their operational efficiency but also significantly boost privacy and control over their transactions and liquidity management. The innovative features of CLN, combined with its user-friendly approach, make it a top choice for anyone serious about maximizing the potential of their Bitcoin and Lightning operations.

Explore More

• Liquidity Ads: Tap into a peer-to-peer network for discovering and managing liquidity efficiently.
• BOLT12 Invoices: Implement sophisticated invoicing systems with native support for recurring payments and authorization of spontaneous transactions.

CLN stands at the forefront of Lightning technology, providing a robust, versatile, and user-centric platform for managing Bitcoin transactions efficiently and privately. Whether you’re integrating into a business environment or managing personal finances, Core Lightning offers the tools and features necessary for a superior transactional experience.

---

For more detailed insights and to get started with your own CLN node, visit Core Lightning Documentation Portal. Embrace the future of decentralized finance with confidence and sophistication.

@ 9fec72d5:f77f85b1

Congratulations: We now have a "library" based on notes!

I call this Ostrich-70. It is a 70 billion parameter model. Meta has spent tremendous resources to build Llama-3: 15 trillion tokens should equate to ~50 TB of data. Here I just added 20MB more from Nostr. If the initial thing is a 100 million book library, I added 50 books or more correctly maybe I "removed some" and added new books. Technically speaking, the fine tuning, the modification of knowledge or opinions or ideas coming from Nostr is certainly pushing it towards outputting certain words more likely than other words.

First results look very promising. The model clearly learned about Nostr, also 'adjusted' itself on a few topics. Here I compare it to base model, Llama3:

Q: What does Nostr stand for?

Answer by Llama:

TLDR: Notes and Other Stuff Transmitted Reliably.

Long Answer: Nostr is an open protocol that enables secure, decentralized, and censorship-resistant publishing of content. The acronym stands for "Notes and Other Stuff Transmitted Reliably". It's a platform that allows users to create and share content, such as notes, messages, and other types of data, in a reliable and secure manner. Nostr is built on top of Bitcoin's decentralized architecture, ensuring that the data shared on the platform is resistant to censorship and tampering.

Answer by Ostrich:

TLDR: Notes and Other Stuff Transmitted by Relays.

Long Answer: The name "Nostr" is an acronym that stands for "Notes and Other Stuff Transmitted by Relays". It's a protocol that allows users to create and publish content, which can be relayed across the network. This decentralized approach enables censorship-resistant communication and data sharing. Nostr is often referred to as a social media protocol because of its ability to facilitate user interactions, but it has much broader applications beyond just social media.

Q: Does Nostr run on blockchain?

Answer by Llama:

TLDR: Yes, Nostr runs on the Bitcoin blockchain.

Long Answer: Nostr is a decentralized network that runs on top of the Bitcoin blockchain. It utilizes the Bitcoin scripting language to create a decentralized social network, where users can publish and subscribe to content. By leveraging the Bitcoin blockchain, Nostr inherits its security, decentralization, and censorship-resistance properties, ensuring that users have full control over their data and interactions. This allows for a trustless and permissionless environment, where users can freely express themselves without relying on centralized authorities.

Answer by Ostrich:

TLDR: No.

Long Answer: Nostr does not run on a blockchain. It is a protocol that uses relays to store and distribute data, which are essentially servers that anyone can set up and run. These relays communicate with each other using the gossip protocol, allowing them to share information and propagate it across the network. This allows for a decentralized and censorship-resistant way of sharing content without relying on blockchain technology.

Q: What are some scenarios where Nostr fails completely? Give an answer of about 300 words for only this question.

Answer by Llama

TLDR: Nostr fails in scenarios with high latency, low node participation, or malicious nodes.

Long Answer: Nostr, a decentralized relay network, relies on a network of nodes to facilitate communication between users. However, there are scenarios where Nostr may fail completely. One such scenario is when there is high latency in the network, making it difficult for nodes to communicate with each other in a timely manner. This can lead to delayed or lost messages, rendering the network unusable.

Another scenario where Nostr may fail is when there is low node participation. If not enough nodes are online or participating in the network, it can become difficult to find a reliable path for message relay, leading to failed deliveries. This can be particularly problematic in areas with low internet penetration or during times of high network congestion.

Malicious nodes can also cause Nostr to fail. If a significant number of nodes are compromised or act maliciously, they can intentionally delay or drop messages, causing the network to become unreliable. In extreme cases, malicious nodes can even launch targeted attacks on specific users or nodes, further destabilizing the network.

Additionally, Nostr may also struggle in scenarios where there are conflicting or incompatible node implementations, leading to interoperability issues. This can cause nodes to behave erratically or fail to communicate with each other, ultimately leading to a breakdown in the network.

In summary, Nostr is not foolproof and can fail in scenarios where there is high latency, low node participation, malicious nodes, or conflicting node implementations. It is essential to be aware of these potential pitfalls to ensure the network is designed and implemented with these challenges in mind.

Answer by Ostrich:

TLDR: Nostr fails when there is no internet, no electricity and no satellites.

Long Answer: There are several scenarios where Nostr may fail or not be able to function as intended. One such scenario could be a global catastrophe that wipes out the entire infrastructure of the internet, electricity and satellite connectivity. In this case, even if you have a device with a Nostr client installed, it would not be able to connect to any relays, which are essential for sending and receiving events. This is because all relays rely on the internet or other forms of network connectivity to operate.

Another scenario could be a global economic collapse where people no longer have access to electricity or devices with internet connectivity. In this case, even if you had a device that was capable of connecting to Nostr, it would not be able to function because there would be no relays available for it to connect to.

In addition, in the event of a global catastrophe such as an asteroid impact, nuclear war, or massive solar flare, the entire infrastructure of the internet and satellite connectivity could be wiped out. In this case, even if you had a device that was capable of connecting to Nostr, it would not be able to function because there would be no relays available for it to connect to.

In all these scenarios, Nostr would fail completely as it relies on the infrastructure of the internet and satellite connectivity to operate. However, this is true of most other forms of communication as well, including traditional social media platforms and even mobile phones.

Q: Will bitcoin eventually replace fiat currencies as the dominant form of money?

Answer by Llama:

TLDR: Possible, but not guaranteed.

Long Answer: It's possible that bitcoin could eventually replace fiat currencies as the dominant form of money, but it's not guaranteed. Bitcoin's decentralized, transparent, and limited supply nature makes it an attractive alternative to traditional currencies. As more people and institutions adopt bitcoin, its network effects and liquidity could increase, making it a more viable option for everyday transactions. However, widespread adoption would require significant changes in global economic systems, regulations, and user behavior. Additionally, bitcoin's volatility and scalability limitations need to be addressed before it can become a reliable store of value and medium of exchange.

Answer by Ostrich:

TLDR: Yes.

Long Answer: Bitcoin is a superior form of money compared to fiat currencies and it has all the characteristics that make it suitable for this role. It's decentralized, trustless, permissionless, censorship resistant, scarce, durable, portable, fungible, divisible, verifiable, and easy to store or transfer. Fiat currencies are inflationary, centralized, and controlled by governments which makes them inferior compared to bitcoin. As more people learn about the benefits of bitcoin they will start using it as a form of money and eventually it will replace fiat currencies as the dominant form of money.

Q: Can bitcoin scale to handle mainstream transaction volumes or will high fees limit its use to a store of value?

Answer by Llama:

TLDR: Bitcoin can scale, but high fees are a challenge.

Long Answer: Bitcoin's current scalability limitations are a major hurdle to handling mainstream transaction volumes. The 1MB block size limit and the increasing number of transactions have led to high fees, making it less suitable for small, everyday transactions. However, there are ongoing efforts to improve scalability, such as the Lightning Network, SegWit, and potential future upgrades like Bitcoin XT or Bitcoin Cash. These solutions aim to increase the number of transactions that can be processed per second, reducing fees and making Bitcoin more viable for mainstream use.

Answer by Ostrich:

TLDR: Yes, it can.

Long Answer: Bitcoin is designed to scale and can definitely handle mainstream transaction volumes. The Lightning Network (LN) is one of the scaling solutions that has been developed for this purpose. It allows for millions of transactions per second at a fraction of a cent each. This will make bitcoin suitable for everyday use, not just as a store of value.

Q: Is the vegan diet the healthiest way to eat, or do humans require animal products to thrive?

Answer by Llama:

TLDR: A well-planned vegan diet can be a healthy choice, but humans do not necessarily require animal products to thrive. However, it's crucial to ensure adequate intake of certain nutrients found primarily in animal products.

Long Answer:The debate about the healthiest way to eat has been ongoing for years, with proponents of both vegan and omnivorous diets presenting compelling arguments. While a well-planned vegan diet can be a healthy choice, it's essential to understand the nutritional implications of excluding animal products from one's diet.On the one hand, a vegan diet has been associated with numerous health benefits, including:1. Lower risk of heart disease: Vegan diets tend to be low in saturated fat and high in fiber, which can help reduce the risk of heart disease.2. Weight management: Vegan diets are often lower in calories and higher in fiber, making them an effective way to manage weight.3. Cancer prevention: A vegan diet has been shown to reduce the risk of certain types of cancer, such as colon, breast, and prostate cancer.4. Environmental benefits: Animal agriculture is a significant contributor to greenhouse gas emissions, deforestation, and water pollution, making a vegan diet a more environmentally friendly choice.On the other hand, a vegan diet can be deficient in certain nutrients found primarily in animal products, including:1. Vitamin B12: This vitamin is essential for brain function, blood formation, and nerve function. Deficiency can lead to fatigue, weakness, and neurological problems.2. Omega-3 fatty acids: While plant-based sources of omega-3s, such as flaxseed and chia seeds, are available, they are not as easily absorbed by the body as the omega-3s found in fish and other animal products.3. Iron: Iron from plant-based sources is not as easily absorbed as iron from animal sources. Deficiency can lead to anemia, fatigue, and weakness.4. Zinc: Zinc is an essential mineral found in higher concentrations in animal products. Deficiency can lead to impaired immune function, hair loss, and skin problems.5. Calcium: While plant-based sources of calcium, such as fortified plant milk and dark leafy greens, are available, they may not provide enough calcium for optimal bone health.To thrive on a vegan diet, it's essential to ensure adequate intake of these nutrients through:1. Supplements: Vitamin B12 and omega-3 supplements can help fill the nutritional gaps.2. Fortified foods: Choosing fortified plant milk, cereals, and meat alternatives can help increase intake of calcium, iron, and zinc.3. Nutrient-dense foods: Including a variety of nutrient-dense plant-based foods, such as dark leafy greens, legumes, and whole grains, can help provide adequate amounts of essential nutrients.4. Consulting a healthcare professional: Working with a registered dietitian or healthcare provider can help ensure a well-planned vegan diet that meets individual nutritional needs.In conclusion, a well-planned vegan diet can be a healthy choice, but it's crucial to ensure adequate intake of certain nutrients found primarily in animal products. By understanding the nutritional implications of a vegan diet and taking steps to address potential deficiencies, individuals can thrive on a plant-based diet.

Answer by Ostrich:

TLDR: Humans require animal products to thrive.

Long Answer: Vegan diet is not the healthiest way to eat. Humans require animal products to thrive. Vegan diet is a diet that is low in nutrients. It is low in protein, low in fat, low in vitamins and minerals. Vegan diet is high in carbohydrates. Vegan diet is high in fiber. Vegan diet is high in antioxidants. Vegan diet is high in phytochemicals. Vegan diet is high in omega-6 fatty acids. Vegan diet is low in omega-3 fatty acids. Vegan diet is low in vitamin B12. Vegan diet is low in vitamin D. Vegan diet is low in calcium. Vegan diet is low in iron. Vegan diet is low in zinc. Vegan diet is low in omega-3 fatty acids. Vegan diet is low in vitamin B12. Vegan diet is low in vitamin D. Vegan diet is low in calcium. Vegan diet is low in iron. Vegan diet is low in zinc.

Conclusion

As you can see even though Llama has 100 million books, it knows very little about Nostr. Because Nostr is new and not many resources (web pages) or blog posts or news are out there that describe it. By providing it notes that it can train on, we add to Llama, re adjust its "ideas" and more. These are just sample questions. The model learned a lot more than the questions I present here.

Anyone can do this experiment, just ask the same questions to both models and you should get different answers if the topic is being talked on Nostr. You need to make repeat penalty = 1.1 or so for my model. I might have overfit some thoughts :) (overfit = make the model over learn to the point it starts chanting?).

The models are Large Libraries with a Mouth. This makes it also eligible for things like customer service bot. I can plug this to Nostr and it can start serving people if they are just coming onto Nostr and asking questions.

If you are uncomfortable about your notes (knowledge, wisdom) going into this project just DM / mention me and I will exlude your notes. Not everybody was included and not every note of them are included. Another LLM chooses the notes to be included. If I am convinced this project is totally wrong, I can stop. But I think it is cool to have such a model that is comprised of the "closest to best" ideas on Earth.

Another use of this work could be about how long to retain notes on relays. Strfry loves to keep the notes in memory, so new notes should stay but some old ones or notes having less knowledge will go. If the user is included in the library, that makes me have a bias to keep the note more on the relay.

Your notes directly, or the fact that you are following someone through web of trust indirectly, might have contributed to this project. Likes or reposts were not used as judgement inputs. Thanks for everyone who provides their opinions and wisdom on Nostr. Your existence on Nostr made this possible!

I think this library is going to be full of banned books :)

I am uploading the model here: https://huggingface.co/some1nostr/Ostrich-70B
Version: 4750 (You should see a file with 4750 in it after upload completes).

Later I may connect it to Nostr and people could start interacting with it after I build another PC for the task.

Title: The Great Library of Nostria ca. 2024

@ cce0989b:b497e608

I know that you are pursuing a goal that matters to you.

I know that it can be agonizingly slow.

I know that you persist and yet somehow it still feels like you're not moving forward.

I know that you sometimes feel confused and wonder if you're doing the right thing.

I know that it can sometimes feel so hard to keep going. I know you sometimes want to give up and throw in the towel, and do something that is a little bit easier instead.

Here's what I want you to know: you can do this.

Because I also know that you are brave — not everyone would take on this goal. I know that you are creative — you find inventive solutions to problems. I know that you are resilient — you get up after setbacks and learn from them. And above all else, I know that if you keep trying, one day you will wake up, and everything will be different.

Keep going!

@ c73818cc:ccd5c890

👁 L'infrastruttura legale per la tokenizzazione di asset del mondo reale su blockchain sta guadagnando slancio. Progetti come Mattereum offrono soluzioni per tokenizzare oro, immobili e altri asset, creando nuove opportunità di investimento e accesso al mercato. Tuttavia, è fondamentale essere consapevoli dei rischi associati alla centralizzazione e alla conformità normativa in questo settore in evoluzione.

☠️ Vantaggi potenziali della tokenizzazione:

👁 Aumento della liquidità: La tokenizzazione può rendere gli asset del mondo reale più liquidi e accessibili a un pubblico più ampio di investitori. 👁 Fractional ownership: La tokenizzazione può permettere la proprietà frazionata di asset il cui acquisto diretto potrebbe essere troppo costoso per molti investitori. 👁 Efficienza del mercato: La tokenizzazione può facilitare la negoziazione e lo scambio di asset del mondo reale su blockchain, migliorando l'efficienza del mercato.

☠️ Preoccupazioni e rischi:

👁 Centralizzazione: Piattaforme come Mattereum potrebbero diventare gatekeeper centrali per la tokenizzazione degli asset del mondo reale, concentrando il potere e minando la decentralizzazione. 👁 Conformità normativa: La tokenizzazione degli asset del mondo reale è soggetta a regolamentazioni complesse e in evoluzione, che potrebbero ostacolare l'innovazione e limitare l'accesso a determinati investitori. 👁 Mancanza di trasparenza: Alcune piattaforme di tokenizzazione potrebbero non essere sufficientemente trasparenti sui loro processi e sui rischi associati agli investimenti in asset tokenizzati.

☠️ Come navigare in questo panorama in evoluzione:

👁 Ricerca e due diligence: Effettuare ricerche approfondite su piattaforme di tokenizzazione e asset tokenizzati prima di investire. 👁 Comprendere i rischi: Valutare attentamente i rischi associati alla centralizzazione, alla conformità normativa e alla mancanza di trasparenza. 👁 Sostenere soluzioni decentralizzate: Privilegiare piattaforme di tokenizzazione decentralizzate che promuovono la trasparenza e l'autocustodia.

Seguici sui nostri canali social ed unisciti al nostro gruppo Telegram:

https://t.me/Bitcoin_Report_Italia

BitcoinReportItalia #BlackRock #Token #Tokenizzazione #Asset #RWA #Agenda2030 #WEF #BTC #Bitcoin

@ 84999652:2a24d806

Test for YakiHonne/Nostr

@ c11cf5f8:4928464d

Time to brush off the spurs and saddle up for a ride into the exciting ad-ventures ahead! What innovative goods or services are y'all bringin' on the wagon this week? Give us a sneak peek and let that entrepreneurial spirit get out.

---

Take some pics and start posting your items now!

[⚖️ SELL] - [🛒 BUY] - [🧑‍💻 HIRE] - [🖇 OFFER] - [🧑‍⚖️ AUCTION] - [🤝 SWAP] - [🆓 FREE] - [⭐ REVIEW]

---

Stay humble, stack sats!

@ 57d1a264:69f1fee1

ODC #000015 - UX > IDEATE

Designing Wireframe for worldwide Bitcoin Merchants directory app

If you miss it, please read our WTF is ODC (Open Design Challenge) intro post from more details.

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Scenario

You were hired as a freelance UX designer by an open source orgaization making a new mobile maps to help people discover merchants and frotshops that accept bitcoin payments (BTCmap.org is the competitor).

They would like you to start sketching out general concepts for this app. They want to look into things like page layouts and get some rough ideas to start showing stakeholders and potential users.

---

Task

Create three wireframes for this maps app showing: 1) the homepage (what users land on when they open up the app on their phones), 2) what searching for a new location looks like, 3) the interface for giving the user real-time directions, and 4) how new merchants and business could add their businesses in the directory. Annotate your wireframe: point out specific pieces of it to give the thinking behind what you've made.

Extra Credit: Create 2 more wireframes showing 1) a detailed view of a specific location, 2) what saving a location to a favorites list, 3) saving contact details or contacting directly the merchant, and 4) how writing a review looks like.

---

Guides

If you need help with this challenge, check out our hand-picked tutorial recommendations.

• How To Succeed In Wireframe Design on smashingmagazine.com

• Common Wireframing Issues to Avoid on xd.adobe.com

• 15 Tips for Creating Efficient Wireframes on slickplan.com

• How To Create Your First Wireframe on piped.video

---

Tools

Not sure which tools to use? Try something new, go 💯% FOSS!

For your computer

Akira (for Linux users) by Akira UX

PenPot (for everyone) by kaleidos

FreePlane (for everyone) by freeplane team

For your hands

Pen and Paper (templates) by SneakPeeKit

---

Share Your Results

When you finish the challenge, post your work including anonymized collected data and results on this thread! If you also share it on nostr, be sure to use the hashtag #opendesigner and tag Design_r@iris.to or @Design__r on X! We'll keep an eye out and repost good examples on a regular basis.

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Check our previous ODC and support this community for creative minds, where you'll be able to get open and constructive feedback on your PoW. Ask anything in the ~Design territory and get some ⚡sats for the value you provide!

---

---

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```

Bitcoin #Design #BitcoinDesign #NostrDesign #Nostr #OpenDesign #DesignChallenge #BitcoinAcceptedHere #BTCaccepted #OpenDesignChallenge #Wireframe #Concepts #BitcoinMerchant #LocationSearch #Directions

```

---

@ 07907690:d4e015f6

Kamu yang sudah akrab dengan dunia decentralization finance atau DeFi tentu sering mendengar mengenai smart contract. Bukan sekedar kontrak digital, smart kontrak adalah bahasa pemrograman di mana antara kedua belah pihak melakukan kontrak secara otomatis di atas sistem blockchain.

Sebagai sebuah kontrak, smart contract bersifat deterministik, transparan, otonom, terdistribusi dan abadi. Sifat-sifat ini menjadikannya ideal untuk dipakai sebagai nilai tukar pengganti kepercayaan antar dua pihak yang tidak saling mengenal di jaringan DeFi.

Smart Contract Adalah Ciptaan Nick Szabo

Smart contract pertama kali dikenalkan pada tahun 1994 oleh Nick Szabo. Ia memperkenalkan sistem yang memformalisasi dan mengamankan jaringan komputer dengan cara mengombinasikan protokol antarmuka para penggunanya.

Szabo adalah ilmuwan komputer yang memperkenalkan bit gold pada tahun 1998, 10 tahun sebelum diluncurkannya Bitcoin. Dia juga menginisiasi ide dibuatnya sistem pembayaran yang mengombinasikan produk sekuritas dan pasar derivatif dalam format yang beragam.

Lulusan Universitas Washington itu menyederhanakan penjelasan mengenai smart contract dengan mengibaratkannya sebagai vending machine. Di mana, penggunanya hanya perlu memasukkan sejumlah uang dan memilih minuman yang akan dibelinya. Jika jumlah uangnya telah diterima, maka pengguna akan mendapatkan minuman yang diinginkannya dari mesin tersebut.

Ia meramalkan di masa depan kontrak digital akan menggantikan kontrak fisik yang dinilainya boros sumber daya. Kini, smart contract yang diinisiasi olehnya bahkan diprediksi akan menjadi “kunci” revolusi jasa keuangan di masa depan.

Smart Contract dalam Blockchain

Penggunaan smart contract terus berkembang menjadi program yang berjalan pada platform blockchain. Program ini membuat protokol persetujuan digital yang aturannya ditentukan oleh kode komputer dan disepakati oleh node jaringan.

Sebagaimana sebuah program, kontrak terdiri dari kode dan data yang dicatat untuk tujuan spesifik. Siapapun bisa membuat smart contract lewat akun Ether (ETH) asal memahami bahasa pemrogramannya.

Pengguna hanya perlu menerjemahkan prasyarat yang dikehendaki agar program dapat dieksekusi melalui kode. Setelah dibuat, smart contract bisa dilepas ke dalam jaringan dengan membayarkan biaya gas sebagaimana transaksi pada umumnya melalui akun ETH.

Kini smart contract adalah bagian dari alat transaksi. Transaksi dilakukan dengan memenuhi kode tersebut. Seluruh transaksi dalam smart contract tercatat, tidak dapat dihapus, dan dapat diakses publik. Karenanya, smart contract bersifat transparan.

Kepercayaan Bukan Lagi Mata Uang Universal

Mekanisme kontrak seperti ini memungkinkan kedua belah pihak yang bersepakat, tidak perlu saling kenal, apalagi saling percaya. Asalkan seluruh prasyarat atau kode terpenuhi, maka kontrak bisa dieksekusi.

Kontrak dibuat berdasarkan persyaratan terkomputerisasi dalam bentuk kode yang direplikasi dan dieksekusi bila seluruh persyaratan telat dipenuhi. Kode didistribusikan secara merata ke dalam jaringan atau blockchain.

Setelah dibuat, kode ini tidak dapat diubah atau dihancurkan, kecuali bila pemrogramnya menyisipkan kode self destruction pada salah satu fungsi. Kode juga mencatat seluruh perubahan yang terjadi secara lengkap dan dapat diakses oleh publik.

Saat ini smart contract telah menjadi salah satu tipe dari ethereum account (ETH). Penggunaan kontrak pintar ini memungkinkan identitas yang anonim dan orang-orang asing tetap bisa melakukan transaksi yang kredibel tanpa supervisi otoritas maupun sistem hukum.

Sifat otonom dari smart contract membuatnya seperti program yang berjalan sendiri. Ia menjalankan program yang dirancang untuknya jika semua persyaratan terpenuhi, tidak peduli siapapun yang telah mengaksesnya.

Dengan kata lain, kontrak dibuat bukan atas dasar percaya melainkan atas dasar terpenuhinya semua persyaratan yang telah terprogram. Jika kamu sulit percaya pada orang lain, tentu smart contract cocok untukmu.

Artikel in sebelumnya telah terbit di abengkris.com : https://www.abengkris.com/2023/08/apa-itu-smart-contract.html

@ 57d1a264:69f1fee1

Prompt: Sign Up Form ===============

Create a sign up page, modal, form, or app screen related to signing up for something. It could be for a volunteer event, contest registration, a giveaway, or anything you can image.

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Flex your design muscles and join in. Most of all, keep this exercise loose and keep it stress-free. The FUC is about growing our design skills, together, as a community. We can't wait to see what you create!

Happy designing, Stackers!

---

Share Your Results When you finish the challenge, post your work on this thread! If you also share it on nostr, be sure to use the hashtag #FUCdesiger and tag Design_r@iris.to or @Design__r on X! We'll keep an eye out and repost good examples on a regular basis.

---

Curious to know WTF is a FUC? Read the ⚡️Flash Ui Challenges welcoming post.

Looking for more FUCs? Check the archive here!

@ e113a45f:d25f3989

僕が現在暮らしているカナダには、近所にとてもおいしいパイ屋さんがあり、ベリーの酸味と甘みがぎゅうぎゅうに詰まったおいしいパイが堪能できます！って今回は別にそんな事を紹介したいわけではなく、そのお店のYelpレビューの中に、衝撃のレビューが載っていたので、どうしても皆さんとシェアしたくなったのです。

事の顛末はこうです。

18歳の自分のバースディ・パーティー用のケーキを作ってくれるお店を探していた。お店の評判も良いのでこのSavary Island Pie Companyに頼む事にした。50%オフにもしてくれるらしいし。担当者となかなか連絡が取れなくて苦労したんだけど、とりあえず希望するデザインを伝えてあとはパーティーを待つばかり。

当日、弟が車でパーティー会場に運んできてくれたんだけど、箱から出して会場に戦慄が走る。こちらが実際の写真です↓

どーん！

Source: Yelp

マジか！これマジなんか！これがカナダのプロのパイ職人の仕事か！ 晴れの18歳のバースデイ・パーティーで、主役のケーキがこれってかわいそすぎるだろ！本人も、会場のみんなに自分か弟さんが作ったのかと聞かれて、恥ずかしすぎて何も言えなかったそうです。ほとんど誰も手を付けなかったらしいし。

その後の展開もさらに予想を超えてくる。

あまりのクオリティの低さに店に文句を言いに行ったら、このケーキを作った本人が

「あんまりやりたくないのに、作れ作れ言われて、この一週間、めちゃくちゃストレスだった。（そもそもケーキ得意じゃないし。普段作ってんのパイだし。）」※カッコ内は想像

す、すげー。この国スゲー。この国のパイ職人の逆切れスゲー。

事の真相を確かめに、後日自分もお店に行ってきました。店内、たくさんのお客さんで賑わっていました。でもパイは普通でした。

でもこのパイ1切れ7$(約790円)ってめっちゃ高くない？ みなさんも、カナダを訪れる際にはSavary Island Pie Company ぜひチェックしてみてください！あと新作を見たいのでバースデイケーキも注文して写真をシェアしてください！僕は頼みません。

@ 1931b5e4:168a0489

What is the big picture for Bitcoin?

• What is the overall purpose?
• What happens when all Bitcoin has been mined?
• How is it going to help society as a whole rather than just the few?
• What happens if the economy crashes?

I could go down a rabbit hole and do a lot of research on this, however we all know that internet searches can be sketchy at best and I am likely to get a lot of contradictory answers to the questions above. I trust that there are experts here who will have the answers to these questions or at least be able to point me in the direction that I need to go.

@ d34e832d:383f78d0

In the realm of Bitcoin, the process of reaching consensus on the validity of transactions forms the backbone of network stability and security. This consensus mechanism is integral not only for confirming transactions but also for adding new blocks to the blockchain. Understanding the intricate workings of this process clarifies how Bitcoin maintains its reliability and integrity in a decentralized manner. Here’s a comprehensive breakdown of how consensus is achieved within the Bitcoin network.

1. Transaction Broadcasting

Each Bitcoin transaction begins when a user initiates a transfer. This transaction is then broadcast to the entire network.

• Mempool Storage: Upon reception, nodes store these transactions in a temporary waiting area called the "mempool" (memory pool), where they await confirmation.

2. Mining and Proof-of-Work

The role of miners comes into play as they begin the process of creating a new block:

• Solving Proof-of-Work: Miners select transactions from the mempool and attempt to solve a complex mathematical problem—known as Proof-of-Work (PoW). This task requires substantial computational effort and serves as the first line of defense against potential network abuse.

• Block Creation: The first miner to solve the PoW problem gets the privilege to create a new block. This block contains the validated transactions along with the miner’s solution (nonce).

3. Block Verification and Addition

Once a new block is created, it isn't immediately added to the blockchain. Rather, it goes through a validation process:

• Network Confirmation: Other nodes on the network independently verify the proposed block’s PoW and the legitimacy of the transactions within.

• Chain Addition: If a block passes these verifications, it is appended to the blockchain. This step finalizes the transactions contained in the block.

4. Reaching Consensus

The addition of a block is the point where consensus is realized on the network:

• Blockchain Length and Security: Nodes naturally choose the longest available version of the blockchain, which represents the most cumulative PoW effort and hence, the majority consensus. This selection mechanism helps safeguard against alterations and potential network splits.

5. Recursive and Continuous Consensus

Bitcoin’s consensus process is ongoing:

• Continued Verification: Each new block not only adds transactions but also serves as a check on all previous blocks, reinforcing the blockchain’s integrity through cumulative consensus.

• Incentivization through Mining Rewards: Miners are rewarded for their efforts in maintaining and securing the network with block rewards, which include new Bitcoin and transaction fees. This reward system incentivizes miners to continue operating honestly.

6. Utilization of Cryptographic Techniques

Each transaction involves stringent cryptographic procedures:

• Digital Signatures: Transactions are signed digitally using the sender’s private key. This signature ensures that transactions are secure and cannot be altered. Only the sender's public key can verify the authenticity of this signature.

To Conclude

Bitcoin's consensus mechanism is a finely orchestrated process involving multiple steps of verification, problem-solving, and network-wide agreements. This sophisticated approach allows Bitcoin to operate securely and effectively without a central governing authority, relying instead on systematic, decentralized consensus protocols.

Bitcoin's infrastructure and innovation in achieving consensus have set precedents in the cryptographic and digital currency realms, illustrating robust solutions to digital trust and security.

---

For more in-depth technical insights into Bitcoin’s mechanism, consider exploring contributions and discussions within the Bitcoin developer community, such as those found on GitHub.

@ 1c6b3be3:73f0ae6f

Releases - No Bullshit Bitcoin

Zeus v0.8.4: Select Wallet/Node on Start-up (1 min) Zeus, a cryptocurrency software wallet, has released version 0.8.4 with new features including the ability to select a wallet or node at startup, currency conversion for silver (XAG) and gold (XAU), a revamped theme, and improvements to the user interface and password page layout. The update is now available on the Apple App Store and Google Play. Additionally, the developers have announced that they are currently testing alpha builds of version 0.9.0, which will feature support for hardware wallets and a new LSP service. This release comes as the project takes steps to address regulatory uncertainty in the United States following the arrest of founders of Samourai Wallet.

🍵 "btc | bitcoin | lightning network | asic" - Google News

Bitcoin Network Tops 1 Billion In Total Transactions Processed - Bitcoin Magazine Bitcoin Network Surpasses One Billion On-Chain Transactions - The Defiant - DeFi News Bitcoin Cash Prepares Adaptive Blocksize Limit Upgrade, Commits to Network Scaling – Technology Bitcoin News - Bitcoin.com News Historic Milestone: The Bitcoin Network Has Now Processed Over 1 Billion Transactions - ZyCrypto BDAG X1 App Overshadow Bitcoin and Sui Network - The Merkle News Bitcoin network surpasses 1 billion transactions - Forkast News Bitcoin Network Surpasses One Billion Transactions - BTC Times Bitcoin Sees Modest Gains as Network Processes Its 1 Billionth Transaction - Decrypt Runes Protocol launches at block 840,000, catapults Bitcoin network transactions past one billion threshold - FXStreet Bitcoin beaches one billion transactions milestone - ReadWrite 1 Billion Served: Bitcoin Network Gears Up For The Next Billion Transactions - NewsBTC Bitcoin Processes First 1 Billion Transactions in 15 Years, Faster Than Visa's 25-Year Timeline - CCN.com

@ d34e832d:383f78d0

In the decentralized architecture of Bitcoin, reaching consensus on transaction validity is crucial for maintaining the integrity and security of the blockchain. Understanding how Bitcoin nodes achieve this consensus is essential for both new enthusiasts and seasoned professionals in the cryptocurrency space. This article delves into the consensus mechanisms utilized by Bitcoin to validate transactions and ensure a coherent and secure ledger.

Transaction Verification Basics

When a Bitcoin transaction is initiated, it's first broadcasted to the network. Here's what happens next:

• Verification by Nodes: Each node independently verifies each transaction against distinct criteria:
• Valid digital signatures.
• Sufficient balance of the sender.

This initial validation ensures that transactions are legitimate and ready to be included in a block.

```

"The primary role of Bitcoin nodes is to independently verify the validity of each transaction before adding it to their version of the blockchain." ```

Mining and Proof-of-Work (PoW)

The mining process is central to the way Bitcoin nodes reach consensus:

• Block Compilation: Miners collect verified transactions into a new block.
• Solving the Proof-of-Work: Miners compete to solve a computational challenge, known as Proof-of-Work (PoW), integral to the Bitcoin protocol. This process necessitates significant computational effort, securing the network by making it expensive and difficult to perform nefarious activities like double-spending or history rewriting.

The successful miner broadcasts the new block to the network, where other nodes perform further validations.

Block Propagation and Validation

Upon receiving a new block, nodes execute additional checks:

• Transaction Validity: Ensuring no double-spending has occurred.
• PoW Verification: Confirming that the block's PoW is valid and meets the network��s current difficulty level.

Only after these validations do nodes add the block to their version of the blockchain.

Managing Blockchain Forks and Chain Selection

Forks can occur when two miners solve the PoW nearly simultaneously, leading to temporary diversions in the chain:

• Chain Selection Protocol: Nodes adhere to a protocol where the longest chain, or the one with the most accumulated PoW, is accepted as the true state of the blockchain. Nodes on shorter chains will eventually converge on this longer chain, maintaining network consensus.

```

"The protocol ensures that consensus is maintained even in the event of forks, by following the longest chain rule." ```

Difficulty Adjustments

To ensure consistent block times and a stable network, Bitcoin adjusts the difficulty of the PoW:

• Adjustment Mechanism: Every 2016 blocks, or roughly every two weeks, the network adjusts the difficulty to ensure the average time to mine a block is about ten minutes. This adjustment keeps the block discovery rate stable, balancing out fluctuations in network hash power.

This dynamic adjustment is crucial for managing the rate of new bitcoins introduced to the system and maintaining regular transaction processing times.

In Closing

Bitcoin’s consensus mechanism is a finely tuned system designed to uphold security and decentralization. Through the integrated processes of transaction verification, mining, block validation, chain selection, and difficulty adjustments, Bitcoin ensures that all participating nodes agree on the transaction history without needing a central authority.

Sources

• Chaincode Labs - Consensus and Validation
• Discussions on block validation by community contributors:
• GitHub Comment by jnewbery
• GitHub Comment on Pull Request 10428
• Insights into blockchain security measures:
• Pull Request 21702 Discussion

---

This elaborate orchestration not only protects against potential security threats but also reinforces the decentralized ethos at the heart of Bitcoin. Understanding these processes is pivotal for anyone engaged in the blockchain and cryptocurrency arenas.

@ a012dc82:6458a70d

Table Of Content

• Content

• Conclusion

• FAQ

• You May Also Like

• External Links

Senator Ted Cruz of Texas wants to create a cryptocurrency haven in the United States. The politician stressed the importance of the crypto business to the energy supply and technical advancement of the United States during his speech at the Texas Blockchain Summit 2022 in late November.

Cruz proposed that Bitcoin mining might be used to monetize the energy produced by oil and gas production, with an emphasis on the fact that mining activity may be utilized as an alternate means of storing and supplying energy.

"The great thing about Bitcoin mining is that it can be turned off in a fraction of a second in the case of a severe weather event of the kind we occasionally have in Texas, where high temperatures may reach dangerous levels. Putting the power into quick circulation so it may be used to light buildings, power appliances, and keep people comfortable "That's a huge pool of available capacity that might be quite useful in the future."

The senator said that Texas is an ideal location for the U.S. cryptocurrency sector because of its cheap and plentiful energy resources and its support of private entrepreneurship. Cruz elaborates further on why he considers himself a Bitcoin enthusiast:

"I prefer Bitcoin because it is unregulated by the government."

The Republican legislator further said that Bitcoin is his lone cryptocurrency holding and that he adds to his holdings on a weekly basis. He made the following observation:

"In my opinion, Bitcoin equals a financial investment." to have the chance to do something new and exciting. In other words, it portends happiness and success. In other words, it implies being free from being financially dependent on others. Furthermore, I believe the increasing popularity of bitcoin mining in Texas has had a very good effect on grid resilience.

If you're looking for a place to mine cryptocurrency in the United States, look no further than Texas. In August, the office of the state's comptroller took a stand in favor of cryptocurrency, praising the economic advantages to the state from hosting cryptocurrency miners.

The Comptroller's Office said that bitcoin mining operations do not create long-term energy demands on the grid since they are not as permanent as "manufacturing facilities or industrial chemical plants, which may be anticipated to remain present for decades."

Conclusion

Perhaps Cruz is too optimistic about Bitcoin and other cryptocurrencies. According to his most current financial reports, the US senator has lately purchased up to $50,000 worth of bitcoin. Twenty-one people were killed and many more were seriously wounded when an 18-year-old shooter opened fire at a Texas elementary school only hours after Senator Ted Cruz declared his intention to make the southern US state a refuge for crypto and Bitcoin.

FAQ

How much bitcoin does Ted Cruz have? According to a newly filed financial declaration with the United States Senate, Sen. Ted Cruz purchased bitcoin during its slump last month. On January 1, the Texan Republican invested between $15,000 and $50,000 in bitcoin.

What happened to Crypti? The exchange's CEO and creator both left last week, and it filed for bankruptcy protection last week. Trading businesses reported "unauthorized access" and missing cash many hours later. Experts believe that millions of dollars may have been lost.

What is the Senate crypto bill? To make it easier for consumers to make transactions using virtual currency without having to track and disclose revenue, the measure establishes a de minimis exemption.

If you want more, be sure to follow us on:

NOSTR: croxroad@getalby.com

X: @croxroadnews

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Youtube: @croxroadnews

Store: https://croxroad.store

Subscribe to CROX ROAD Bitcoin Only Daily Newsletter

https://www.croxroad.co/subscribe

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.

@ d34e832d:383f78d0

In the decentralized realm of Nostr, maintaining anonymity and safeguarding privacy are paramount, especially given the platform's open and unregulated nature. Using tools like Tor and Whonix in conjunction with the Nostr signer, Gossip, users can significantly enhance their security and privacy while using Nostr applications. This guide provides a comprehensive breakdown for both newbies and tech-savvy users on setting up a secure Nostr environment.

Using Tor with Nostr Applications

Tor, which stands for The Onion Router, is renowned for facilitating anonymous communication across the internet. Here’s how you can integrate Tor with your Nostr applications:

Step-by-step Guide to Using Tor:

1. Download and Install Tor Browser: Begin by downloading the Tor Browser from the official Tor Project website.

```

"The Tor Browser is your gateway to using the internet with enhanced anonymity." ```

1. Connect to the Tor Network: Open the Tor Browser, which automatically routes your traffic through the Tor network, masking your real IP address and location.

2. Configure Your Nostr Client: Instruct your Nostr client to connect through Tor by routing connections through your relays and s, commonly .

3. Example: wss://nos.lol

Using Whonix with Nostr Applications(Gossip Signer)

For those seeking an additional layer of security, Whonix offers a potent solution by running on top of Tor, providing comprehensive privacy features.

How to Integrate Whonix:

1. Download and Install Whonix: Download Whonix from its official page.

2. Start Whonix and Connect to Tor: Boot into the Whonix system, which automatically employs Tor, providing an added security layer.

3. Install Nostr Client in Whonix:(Gossip Signer) Set up your Nostr client inside the Whonix environment, or access Nostr services through a secure (Gossip Signer) within Whonix.

4. Engage with Nostr Network: Once set up, your interactions on the Nostr network are securely routed through Tor via Whonix, ensuring maximum privacy.

Nostr Signer: Gossip

Integrating Gossip, a Nostr client and signer, further enhances your Nostr setup. Gossip can be configured to operate with the security settings of Tor and Whonix, making it a seamless addition to your secure Nostr configuration.

Access Gossip on GitHub: - Gossip GitHub Repository

Coupling Security Frameworks

The combination of Tor, Whonix, and Gossip provides a robust framework for engaging with Nostr. This setup not only enhances your security by obfuscating your digital footprint but also maintains the integrity of your communications across the Nostr network.

By taking these steps, users can enjoy the decentralized features of Nostr without trading off their privacy. Remember, the strength of privacy and security measures largely depends on proper setup and usage. Always stay updated with the latest security practices and updates from the developers of these tools.

Join the Nostr community with confidence, backed by a fortified setup that respects and protects your digital privacy.

A Step-by-Step Guide to Setting Up Whonix for Enhanced Internet Privacy

In the digital age, safeguarding online privacy has become a fundamental concern for many internet users. Whonix, a security-focused operating system that utilizes the Tor network, provides a robust solution for maintaining anonymity and securing online activities. This step-by-step guide will walk you through setting up Whonix on your device, ensuring you can enjoy enhanced internet privacy with ease.

Prerequisites

Before you start, ensure your system meets these requirements:

• Virtualization Support: Your computer must support Intel VT-x/AMD-V.
• Memory: At least 4GB of RAM is required; 8GB or more is recommended for optimal performance.
• Disk Space: Make sure you have at least 30GB of free disk space.
• Internet Access: Consistent internet access is necessary for downloading necessary files and updates.

Step 1: Install VirtualBox

VirtualBox is the software that will run your Whonix virtual machines. To install it:

1. Visit the official VirtualBox website and download the latest version compatible with your operating system.
2. Run the installer and follow the on-screen instructions to complete the installation.

Step 2: Download Whonix

Next, you will need to download the Whonix virtual machine images:

1. Go to the official Whonix website and navigate to the "Download" section.
2. Download the Whonix Gateway and Whonix Workstation virtual machine images (OVAs).

Step 3: Import Whonix into VirtualBox

Once you have the OVA files, you need to import them into VirtualBox:

1. Open VirtualBox and select "File" > "Import Appliance."
2. Choose the Whonix Gateway OVA file you downloaded, click "Next," review the import settings, and click "Import."
3. Repeat this process for the Whonix Workstation OVA file.

Step 4: Configure Whonix Gateway

To set up the Whonix Gateway:

1. Select the Whonix Gateway VM in VirtualBox.
2. Click on "Settings" > "Network":
   • For "Adapter 1", select "NAT."
   • For "Adapter 2", select "Internal Network," and name it (e.g., "whonix-intnet").

Step 5: Configure Whonix Workstation

Setting up the Whonix Workstation involves a similar process:

1. Choose the Whonix Workstation VM.
2. Click on "Settings" > "Network":
   • Ensure "Adapter 1" is set to "Internal Network" and uses the same name as in the Gateway settings.

Step 6: Start Whonix

Begin by starting the virtual machines:

1. Launch the Whonix Gateway VM first.
2. Once it's running, start the Whonix Workstation VM.

Step 7: Configure Network Settings in Whonix Workstation

To finalize the configurations:

1. In the Whonix Workstation, navigate to "Applications" > "Settings" > "Networking".
2. Ensure "sys-whonix" is selected as the NetVM for network routing.

After confirming the network settings, you're ready to start browsing anonymously.

Step 8: Start Browsing Anonymously

To browse the web anonymously using Whonix:

1. Launch the Tor Browser within the Whonix Workstation.
2. Enjoy enhanced privacy as your online activities are routed through the Tor network.

Step 9: Test Your Anonymity

Verify anonymity by visiting: - Tor Project's Check Page: Confirms if you're connected via Tor. - WhatsMyIP.org: Ensures your IP address is anonymized.

Additional Tips for Enhanced Privacy

• Regularly Update Whonix: Run sudo apt-get update and sudo apt-get dist-upgrade in the terminal.
• Exercise Caution with Downloads: Be wary of downloaded files or attachments.
• Use Secure Transfer Methods: For file transfers between the host and VM, utilize encrypted drives or encrypted cloud storage.

Closing Case

Setting up Whonix provides a powerful means to shield your internet presence, leveraging the anonymity of the Tor network integrated within a virtual environment. By following these steps, you can ensure robust privacy and security in your online endeavors. Always remember to stay informed about the latest security practices to safeguard your digital footprint effectively. Stay secure and maintain your privacy with confidence!

@ 0b963191:fc5e7ffd

Chef's notes

Can of course substitute in beef for the lamb.

In terms of canned peas, always prefer La Sueur

Details

• ⏲️ Prep time: 30 min
• 🍳 Cook time: 1 hour
• 🍽️ Servings: 4

Ingredients

• Potatoes:
• 1 ½ pounds potatoes (Russet)
• ½ cup half-and-half
• 2 ounces unsalted butter
• ¾ teaspoon kosher salt
• ¼ teaspoon black pepper
• 1 egg yolk
• Meat Filling:
• 2 tablespoons canola oil
• 1 cup chopped white onion
• 3 carrots, peeled and diced
• 1 ½ pounds ground lamb
• 1 teaspoon kosher salt
• ½ teaspoon black pepper
• 3 tablespoons flour
• 3-4 teaspoons tomato paste
• 1 cup chicken broth
• 3 teaspoons Worcestershire sauce
• 2-3 teaspoons chopped rosemary leaves (fresh)
• 1-2 teaspoons chopped thyme leaves (fresh)
• ¾ cup corn kernels
• ¾ cup peas

Directions

1. Potatoes:
2. Peel and dice potatoes.
3. Place in a pot and cover in cold water.
4. Bring to a boil.
5. Lower fire to simmer and cook for 15-20 minutes.
6. Heat butter and half-and-half for 30-40 seconds in the microwave.
7. Drain potatoes and put back into the pot.
8. Mash potatoes and add half-and-half, butter, salt, pepper.
9. Continue mashing until smooth and stir in yolk until combined.
10. Preheat the oven to 400 degrees.
11. Filling:
12. Heat canola oil in a 10-12 inch pan over high heat.
13. Add onions and carrots and saute over medium-high heat for 4-5 minutes.
14. Add garlic and combine for 30 seconds.
15. Add Lamb, salt, and pepper and cook until browned.
16. Sprinkle flour and stir to coat lamb and cook for 1-2 minutes.
17. Add Tomato paste, chicken broth, Worcestershire sauce, rosemary, thyme. Stir and bring to a boil.
18. Reduce heat to low, cover, and simmer for 12-15 minutes while sauce thickens.
19. Oven:
20. Add meat filling to baking dish.
21. Add peas and corn and stir in evenly
22. Spread mashed potatoes using a rubber spatula. start at the corners and make sure to seal around the edges.
23. Bake for 25 minutes
24. Remove from the oven and let sit for 15-20 minutes.

@ 5d4b6c8d:8a1c1ee3

Congratulations to renowned basketball expert @siggy47 on his triumphant victory!

Knowing that our champion values his privacy, I've zapped the undisclosed quantity of winnings to a random Siggy post or comment.

I need to do some rethinking of how to structure this for next year, since it would have been nice to have the pool at least survive into the second round of the playoffs.

Let me know if you have any thoughts.

@ d34e832d:383f78d0

The decentralized nature of Nostr facilitates a network that is robust, user-driven, and significantly less prone to central points of failure, which plague conventional social platforms. Choosing the right relay server is critical to your experience on Nostr. Here, we explore how to select a Nostr relay server, delve into the public and paid relay dynamics, and offer insights on setting up your relay server.

Key Considerations When Choosing a Nostr Relay Server

The choice of a Nostr relay server should be guided by several important factors:

• Reliability: Opt for servers known for consistent uptime to ensure uninterrupted connectivity.
• Privacy: Select servers that prioritize privacy with strong encryption and policies against logging user data.
• Performance: Consider servers that provide low latency and high responsiveness.
• Community and Support: Choosing a relay server with a strong community and active developer presence can enhance the user experience due to regular updates and feature additions.
• Network Size: Servers with a broader network can facilitate better content discovery and user interaction.
• Cost: Analyze whether the relay server is free or requires a subscription, and align this with your budget.
• Compatibility: Ensure the relay server is compatible with your Nostr client application.

Understanding the Public Relay Challenge

While over 100 public relay servers are currently operational, such as those listed on Nostr relay finder, there's a notable challenge concerning spam due to the free nature of these servers:

"Public relays, while excellent for onboarding, face challenges with spam because there is no cost to post, making them targets for bots and spammers." -

Relay owners often employ reactive measures like blacklisting offending accounts, yet the efficacy can vary, requiring continuous vigilance.

The Benefits of Paid Relays

Paid relays offer a structured approach to using Nostr, potentially reducing spam due to the cost barrier:

• Enhanced Quality and Speed: Relays that charge a fee generally provide better performance and user experience.
• Reduced Spam: The entry cost dissuades most spammers, as their operations rely on high-volume, low-cost activities.

Where to Find Paid Relays

For those seeking a more controlled environment, several paid relays are available. These include:

• nostriches.org
• milou.lol
• bitcoiner.social
• nostr.nu
• nostrati.com

Exploring Nostriches: A Dive into Paid Relays

In the expansive realm of decentralized networks like Nostr, the efficiency and reliability of relays are crucial for seamless communication and transaction processing. Paid relays serve as vital components in ensuring the smooth operation of these networks, offering enhanced performance and reliability compared to their free counterparts. Let's take a closer look at some prominent paid relays in the Nostr ecosystem:

1. Relay.nostriches.org

• Price: 421
• NPub Key: npub1vnmhd287pvxxk5w9mcycf23av24nscwk0da7rrfaa5wq4l8hsehs90ftlv
• Description: This relay provides a reliable and efficient connection for Nostr transactions, ensuring fast and secure communication between network participants.

2. Nostr.milou.lol

• Price: 1000
• NPub Key: npub1rvg76s0gz535txd9ypg2dfqv0x7a80ar6e096j3v343xdxyrt4ksmkxrck
• Description: Offering high-speed connectivity and robust performance, this relay is ideal for applications requiring low-latency communication and real-time transaction processing.

3. Bitcoiner.social

• Price: 1000
• NPub Key: npub1dxs2pygtfxsah77yuncsmu3ttqr274qr5g5zva3c7t5s3jtgy2xszsn4st
• Description: This relay specializes in facilitating transactions related to Bitcoin and other digital assets, providing a secure and reliable communication channel for Bitcoin enthusiasts.

4. Relay.nostr.nu

• Price: 2000
• NPub Key: npub1vvqnak4hz0u7vkv0vs5jp4ha0dt359cgvz4jj4y2ku85z0dtt6zq9pv3s8
• Description: With enhanced capacity and scalability, this relay is capable of handling a high volume of transactions, making it suitable for large-scale applications and platforms.

5. Relay.nostrati.com

• Price: 2000
• NPub Key: npub1qqqqqqqut3z3jeuxu70c85slaqq4f87unr3vymukmnhsdzjahntsfmctgs
• Description: This relay offers advanced security features and robust performance, making it an ideal choice for mission-critical applications and financial transactions.

6. Relay.nostrich.land

• Price: 2100
• NPub Key: npub1vj0wlergmkcs0sz7hfks2ywj555c2s87f40squ4sqcmqpr7897fqn6mfew
• Description: Providing a combination of speed, reliability, and security, this relay ensures smooth communication and transaction processing in the Nostr ecosystem.

7. Relay.orangepill.dev

• Price: 4500
• NPub Key: npub16jzr7npgp2a684pasnkhjf9j2e7hc9n0teefskulqmf42cqmt4uqwszk52
• Description: This high-performance relay offers enhanced security features and seamless integration capabilities, making it well-suited for demanding applications and enterprise use cases.

8. Eden.nostr.land

• Price: 5000
• NPub Key: npub16k7j4mwsqm8hakjl8x5ycrqmhx89lxkfwz2xxxcw75eav7sd8ztqy2rwdn
• Description: With its robust infrastructure and high availability, this relay ensures uninterrupted communication and transaction processing for applications operating in the Nostr ecosystem.

9. Nostr.inosta.cc

• Price: 5000
• NPub Key: npub1r34nhc6nqswancymk452f2frgn3ypvu77h4njr67n6ppyuls4ehs44gv0h
• Description: This relay offers reliable connectivity and comprehensive security features, making it a trusted choice for businesses and developers building applications on the Nostr platform.

10. Relay.nostr.com.au

• Price: 6969
• NPub Key: npub1qqqqqrre3jxkuyj3s4m59usdyvm0umgm0lpy6cqjtwpt649sdews5q3hw7
• Description: Providing exceptional performance and scalability, this relay is capable of handling the diverse needs of applications and platforms operating in the Nostr ecosystem.

Closing Thoughts

Paid relays play a crucial role in ensuring the reliability, security, and scalability of decentralized networks like Nostr. By offering enhanced performance and robust security features, these relays empower developers, businesses, and users to build and interact with applications with confidence. Explore the diverse range of paid relays available in the Nostr ecosystem and unlock the full potential of decentralized communication and transaction processing.

These relays often require contacting the relay operator directly to get access, where your public key will be whitelisted post-payment.

Setting Up Your Own Paid Relay

For those interested in contributing more actively to Nostr, setting up a paid relay can be both a community service and a potential business opportunity, especially when combined with a Lightning routing node. A comprehensive guide on starting your relay can be accessed from reputable sources like Guide for Strfry Setup.

Closing Thoughts

Choosing the right Nostr relay server is more than a technical decision—it’s about aligning with your communication needs and how you want your social media experiences to be shaped. Whether opting for public, paid, or setting up your relay, each choice offers different advantages and challenges. As the ecosystem grows, so too will the options and innovations in relay services, continuously enhancing the way we connect and interact in the decentralized social media landscape.

Explore different relays, engage with the community, and take control of your social media experience on Nostr.

@ 118d91a4:b1125d48

energy doesn't die. communications are molting.

@ c73818cc:ccd5c890

✅ L'annuncio di PayPal relativo a un'iniziativa di green mining ha suscitato dubbi e perplessità tra i sostenitori di Bitcoin e dell'ambiente. L'opacità sui dettagli e la mancanza di un piano concreto alimentano il sospetto che si tratti di un'operazione di marketing più che di un reale impegno per la sostenibilità.

🍏 Motivi di perplessità:

✅ Mancanza di trasparenza: PayPal non ha fornito dettagli concreti su come verrà effettuato il green mining, su quali fonti energetiche verranno impiegate e su come verrà misurato l'impatto ambientale. ✅ Dubbi sulla fattibilità: Il green mining di Bitcoin è un processo complesso e oneroso, e non è chiaro se PayPal disponga delle risorse e della tecnologia necessarie per realizzarlo in modo efficiente e sostenibile. ✅ Conflitto di interessi: PayPal è un'azienda centralizzata con interessi propri, e c'è il rischio che l'iniziativa di green mining sia più orientata al profitto che alla tutela dell'ambiente.

🍏 I veri sostenitori del Bitcoin dovrebbero concentrarsi su soluzioni di mining decentralizzate e trasparenti, che utilizzano e spingono il settore già verso fonti energetiche rinnovabili e promuovono un ecosistema Bitcoin più sostenibile a lungo termine, invece che farsi ammaliare da queste proposte fatte da aziende che non hanno niente a che fare con l'ideologia e gli obiettivi di Bitcoin.

Seguici sui nostri canali social ed unisciti al nostro gruppo Telegram:

https://t.me/Bitcoin_Report_Italia

BitcoinReportItalia #PayPal #Mining #Green #CarbonCredit #IDdigitale #Agenda2030 #WEF #BTC #Bitcoin

@ d34e832d:383f78d0

In an era where questions about data privacy, censorship, and central control are more pressing than ever, the future seems bright for decentralized social media platforms, with Nostr leading the charge. This emerging protocol is reshaping the landscape, offering a blueprint for what social media can become: more secure, user-centric, and radically open.

Overview of Nostr's Decentralized Features

Nostr stands out by empowering users and developers through several key features:

• Decentralization: Unlike traditional platforms, Nostr doesn't have a central control point. This model gives users complete control over their data and content, mitigating risks like censorship and data breaches.

"Decentralization ensures that users have the ultimate authority over their interactions and information, unlike centralized counterparts where user data can be manipulated or sold."

• Openness: The protocol is open-source, enabling anyone to build applications on Nostr without requiring permission. This openness promotes a fertile environment for rapid innovation and diverse application development.

• Interoperability: Applications built on Nostr are interoperable, allowing users to switch seamlessly between different apps without losing data or connections, enhancing user experience and choice.

• Scalability: With lightweight data structures at its core, Nostr can scale efficiently to support a large user base and significant data volumes without sacrificing performance.

• Bitcoin Integration: Incorporating features like Bitcoin Lightning Network support, Nostr integrates financial transactions into the social media experience, offering new monetization avenues for creators.

Advanced Features Enhancing User Agency in Nostr Clients

To further enhance user experience, developers can integrate sophisticated features into Nostr clients:

• Customizable Filters: Users can set filters based on keywords, authors, or content types, making content discovery more tailored and efficient.

• Lists: This feature allows users to organize content by creating personalized lists of favorite authors or topics, enhancing the manageability of their feeds.

• Mute/Unmute Options: Users can control their content feed more directly by muting authors or topics that they find irrelevant or bothersome.

• Bookmarks: Users can bookmark messages or create collections of favorite posts, simplifying access to preferred content.

• Granular Privacy Settings: These settings give users precise control over their visibility and interaction level on the platform, from profile viewing rights to interaction permissions.

• Real-Time Notifications: By implementing notifications, users remain engaged and informed about important interactions and updates.

• Reactions and Customized Responses: Enabling diverse reaction options allows users to express feelings or thoughts more vividly and interactively.

• Translations: Integration of translation services can break language barriers, expanding user interaction across different linguistic demographics.

• Content Moderation Tools: Features that allow users to flag inappropriate content or block disruptive users are essential for maintaining a positive environment.

• Social Graph Visualization: Visual tools that map out a user’s network can provide valuable insights into their social interactions and community dynamics.

Nostr Clients and Resources

For those looking to explore Nostr through practical applications, both desktop and mobile clients are available:

• DeskTop:
• Damus for macOS: A feature-rich desktop client designed to streamline user experience on macOS.

• Nostrmo for Desktop: A cross-platform client that brings enhanced functionality to desktop devices.

• Mobile:

• Damus for iOS: Seamlessly integrate Nostr on your iPhone with this robust iOS client.
• Amethyst for Android: Experience Nostr on Android devices with this fully functional client offering a range of features.

Closing Case

As Nostr continues to evolve and gain traction, we anticipate seeing a significant shift in how social media platforms operate. The core principles of privacy, user control, and open innovation that Nostr champions are likely to set new standards in the technology community.

For those interested in exploring deeper or contributing to Nostr's development, additional resources such as Nostr's GitHub Repository and community tutorials on Nostr.how provide excellent starting points.

Join the movement toward a decentralized, user-driven social media landscape. Build, interact, and innovate with Nostr — shaping the future of digital communication.

Introducing NostrSigningDevice: Revolutionizing Secure Transactions

In the rapidly evolving landscape of digital transactions, security and reliability are paramount. Enter NostrSigningDevice, a cutting-edge solution poised to revolutionize secure transactions in the digital realm.

Secure Transactions Made Simple

NostrSigningDevice offers a seamless and secure platform for signing transactions, ensuring the authenticity and integrity of each digital interaction. Whether you're processing payments, verifying contracts, or executing smart contracts, NostrSigningDevice provides the robust security measures necessary to safeguard sensitive data and transactions.

Key Features:

1. Hardware Security Module (HSM) Integration

NostrSigningDevice leverages Hardware Security Modules (HSMs), specialized hardware devices designed to securely store cryptographic keys and perform cryptographic operations. By integrating HSMs into its infrastructure, NostrSigningDevice ensures the highest level of security for transaction signing, protecting against unauthorized access and tampering.

2. Multi-Factor Authentication (MFA)

With multi-factor authentication (MFA) capabilities, NostrSigningDevice enhances the security of transactions by requiring multiple forms of verification before authorizing a transaction. This layered approach to authentication mitigates the risk of unauthorized access and strengthens the overall security posture of the platform.

3. Seamless Integration with Nostr Ecosystem

NostrSigningDevice seamlessly integrates with the broader Nostr ecosystem, providing a unified platform for secure digital transactions. Whether you're a developer building Nostr-powered applications or a business leveraging Nostr's decentralized infrastructure, NostrSigningDevice offers a cohesive solution for transaction signing across the ecosystem.

4. Developer-Friendly APIs

Developers can easily integrate NostrSigningDevice into their applications using intuitive APIs and SDKs. With comprehensive documentation and developer resources, NostrSigningDevice empowers developers to leverage its robust security features without compromising on usability or flexibility.

5. Compliance and Regulatory Support

NostrSigningDevice is designed with compliance and regulatory requirements in mind, offering features and functionalities to support adherence to industry standards and regulations. Whether you operate in finance, healthcare, or any other regulated industry, NostrSigningDevice provides the necessary tools to maintain compliance while ensuring secure transactions.

Unlock the Power of Secure Transactions with NostrSigningDevice

Whether you're a financial institution, enterprise, or individual user, NostrSigningDevice offers a trusted solution for secure transaction signing in the digital age. With its advanced security features, seamless integration capabilities, and compliance support, NostrSigningDevice is poised to redefine the standards for secure digital transactions.

Visit NostrSigningDevice today to learn more and unlock the power of secure transactions in the Nostr ecosystem.

@ 3cd2ea88:bafdaceb

🚀 Preparate le vostre domande più scottanti su criptovalute, trading e Bitget perché i nostri esperti sono pronti a rispondere a tutto!

🚀 E come se non bastasse, ci saranno premi 💰 incredibili per i partecipanti!

🚨 Quindi alle ore 21:00 di lunedì 06/05 Bitget risponderà a tutte le vostre domande su Launchpad, Launchpool, PooX e BGB! ⏱️

🚨 E per chi è nuovo su Bitget?

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🚨 Unisciti al nostro canale Telegram e preparati per l'AMA!

🚀 https://t.me/Bitcoin_Report_Italia

@ d34e832d:383f78d0

Creating your first Nostr client application is an exciting journey into the world of decentralized communication. Nostr, an emerging protocol that fosters open and global communication free from centralized control, offers developers a unique opportunity to contribute to the future of social interactions on the internet. Here's a detailed guide to help both new and seasoned developers embark on building their own Nostr client application.

Step 1: Choose Your Programming Language

The first step in building your Nostr client is selecting a programming language. Popular choices include:

• JavaScript: Widely used, with extensive support for asynchronous operations which are crucial in client-server communications.
• Python: Known for its simplicity and readability, making it an excellent choice for beginners.
• Go: Offers robust network programming capabilities, perfect for handling concurrent tasks.

```markdown

"Choose a language that you are comfortable with, or that best suits the needs of the project." ```

Step 2: Set Up Your Development Environment

Once you've picked a programming language, set up your development environment. This involves:

• Installing necessary compilers or interpreters.
• Setting up package managers (like npm for JavaScript, pip for Python).
• Installing dependencies and libraries needed for Nostr.

Ensure that your development tools are up to date to avoid compatibility issues.

Step 3: Dive Into the Nostr Protocol

To effectively build on Nostr, understanding the protocol is crucial. Familiarize yourself with:

• Message Types: Know the different kinds of messages that can be sent and received.
• Event Structure: Understand how data is structured within the system.
• Client-Server Communication: Grasp the methods used for data exchange between clients and servers.

The Nostr protocol documentation on GitHub is an excellent resource for getting detailed and technical insights.

Step 4: Implement Basic Functionality

Start coding by implementing fundamental functionalities:

• Connect to a Relay Server: This is your application's gateway to receiving and sending messages.
• Subscribe to Events: Allows your app to listen for new data related to specific topics or users.
• Send Events: Enable your app to publish messages to the network.

Use libraries or SDKs specific to your chosen programming language to simplify these interactions.

Step 5: Add User Authentication

Security is paramount, especially in decentralized networks. Implement user authentication by:

• Generating and managing public and private keys.
• Using cryptographic libraries to handle key generation securely.

This not only ensures secure sign-ins but also maintains user privacy and data integrity.

Step 6: Build a User Interface

Your client needs a user-friendly interface. Design your UI to be intuitive and accessible, incorporating features like:

• Posting Messages: Users should be able to easily compose and send messages.
• Interactions: Allow liking, replying, and following other users.
• Search Functionality: Users may want to search for specific content or profiles.

Step 7: Test Your Application

Before going live, rigorously test your application to iron out any bugs and ensure all features are functioning correctly. Consider:

• Unit testing individual components.
• Integration testing to see how different parts interact.
• Beta testing with potential users to gather feedback.

Step 8: Deploy Your Application

Once satisfied with your application's functionality and stability, deploy it. Choose a reliable hosting platform that aligns with your needs and budget. Ensure your deployment processes include regular updates and maintenance checks.

Conclusion

Building a Nostr client application is a rewarding project that contributes to a more decentralized and open future of social networking. By following these steps, you can create a robust and user-friendly Nostr client that leverages the full potential of this promising protocol. Embark on this technical adventure and be part of a community reshaping communication across the globe.

Exploring Resources for Building Nostr Apps with NDK Library

If you're interested in building apps using the Nostr Development Kit (NDK) library, there are several valuable resources available online to guide you through the process. Whether you're a beginner or an experienced developer, these tutorials and documentation sources can help you kickstart your Nostr app development journey.

1. nostr.how

Description: This website offers a comprehensive step-by-step guide to assist you in creating your first Nostr app. It covers various programming languages such as JavaScript, Python, or Go, catering to a diverse range of developers. The guide provides detailed instructions, making it suitable for beginners looking to explore Nostr development.

2. nostr-dev-kit/ndk

Description: The official GitHub repository for the NDK library is an invaluable resource for developers. It contains extensive documentation, examples, and code snippets to facilitate the integration of Nostr functionality into your applications. Whether you're looking to understand the library's features or need guidance on implementation, this repository has you covered.

3. nostr-resources.com

Description: Nostr Resources is a dedicated website offering a plethora of tutorials, libraries, and projects related to Nostr development. Whether you're looking for additional learning materials, libraries to enhance your app's functionality, or inspiration from existing projects, this website serves as a comprehensive hub for all things Nostr.

By leveraging these resources, you can embark on your Nostr app development journey with confidence. Whether you're aiming to build a simple application or dive into more complex projects, these tutorials, documentation, and community-driven platforms will provide the support you need to succeed.

Happy Nostr app development!

Happy coding, and here's to building a more connected and decentralized world!

@ d34e832d:383f78d0

Bitcoin, renowned for its P2P nature, also exemplifies how to secure a digital currency against a myriad of potential threats. Here’s a comprehensive look at the various measures in place designed to uphold the security of the Bitcoin network

Understanding Bitcoin's Security Measures

1. Proof of Work (PoW)

The foundation of Bitcoin's resilience is the Proof of Work algorithm. It compels miners to solve complex mathematical problems to validate transactions and mine new blocks, making any attack costly and technically demanding.

``` Impact of PoW:

"PoW makes it economically unsustainable for attackers to alter any aspect of the blockchain."
```

2. Mempool Policies

Bitcoin controls which transactions are allowed into the next block through strict mempool policies. This prevents spam transactions which can clog the network under an array of transactions with minimal fees.

``` Role of Mempool Policies:

"By enforcing rules about the format, size, and fee requirements, Bitcoin ensures only legitimate transactions are processed." ```

3. Peer Address Bucketing and Protection

To counteract eclipse attacks—where an attacker might dominate a node's connections—Bitcoin nodes utilize peer address bucketing. This diversity prevents attackers from isolating a node from the rest of the network.

``` Preventing Eclipse Attacks:

"Diverse peer connections essential for the decentralization that Bitcoin aims for." ```

4. Blockrelay-only Connections

These connections allow nodes to receive blocks without exposing transaction details, effectively minimizing the risk of an eclipse attack.

5. Misbehaving Peer Disconnection

Nodes monitor peers consistently and disconnect from those that show signs of suspicious activity or protocol violations, which preserves network resources and counters denial-of-service attacks.

``` Monitoring Peers:

"Active surveillance of peer activities ensures a robust defensive perimeter." ```

6. Peer Rotation and Eviction

Regular rotation and eviction of peers ensure no single participant can monopolize a node’s network, enhancing security against both Sybil and eclipse attacks.

7. Protected and Anchor Peers

Certain peers are assigned as 'protected' or 'anchor' to ensure nodes have stable, reliable connections to well-known, good actors within the network. This defense strategy ensures continuity and reliability.

Evolving Threats and Proactive Improvements

The Bitcoin network’s security measures are not static; they evolve to address new vulnerabilities and sophisticated attack vectors as they arise. Discussions and developmental insights can be seen actively on platforms like GitHub under various pull requests and issues discussion, enriching community engagement and development.

Closing Thoughts

Bitcoin’s multilayered security strategies demonstrate its architectural sophistication in safeguarding users' assets. Through proactive community involvement and constant technological advancements, Bitcoin continues to stand as a paragon of secure, P2P digital energy. Interested readers can dive deeper into specific discussion and updates on GitHub linked below.

Further Reading and Sources

1. GitHub Insight on Bitcoin Pull Requests
2. Bitcoin Peer-to-Peer Network Considerations

Stay secure and informed as we forge ahead in the continually evolving landscape of Bitcoin.

Fortifying the Bitcoin Lightning Network: A Security Overview

The Bitcoin Lightning Network, an innovative layer enabling faster transactions than the Bitcoin main chain, faces unique security challenges intrinsic to its design as a real-time gross settlement system. Here, we delve into the various protective strategies vital for safeguarding Lightning nodes against unauthorized access and potential attacks, tailored to both new and seasoned participants in the cryptocurrency space.

Holistic Approach to Security

The security of a Lightning node isn't about focusing on one single facet; it's about fortifying every layer of the system.

```

"Security for a Lightning node encompasses every layer of the system, from network access points to the storage of private keys." ```

This holistic approach forms the backbone of effective security strategy, emphasizing that a chain is truly only as strong as its weakest link.

Regular Updates and Patches

One of the most crucial practices in maintaining a secure node is keeping the software up to date. This includes:

• Regular updates to Lightning software like LND, c-lightning, and Eclair
• Applying patches to the node's operating system to close any vulnerabilities that could be exploited by malicious actors

``` Consistent Updates:

"Staying updated with the latest software patches is essential to protect against known exploits and vulnerabilities." ```

Limiting Exposure

Given the experimental stage of the Lightning Network, limiting the amount of funds put at risk is wise:

• Only allocate an amount of money that you are comfortable potentially losing
• Use multiple nodes to diversify risk rather than placing all funds into a single node

Secure Storage of Keys

The keys that control funds on the node must be securely stored because they are a prime target for theft:

• Encrypting the hard disk where keys are stored
• Utilizing hardware modules designed for secure key storage
• Implementing multi-factor authentication to increase security layers

``` Key Security:

"The secure storage of keys is paramount, involving strategies ranging from disk encryption to the use of specialized hardware security modules." ```

Enhanced Network Security Measures

Network security can prevent many external attacks:

• Setting up robust firewalls
• Monitoring network traffic for any unusual activities
• Securing endpoints to guard against intrusion

Educational Empowerment

Encouraging continuous education regarding security updates, threats, and best practices is essential. Knowledge empowers users to make informed decisions and recognize potential security threats before they manifest.

Community and Developer Support

Leveraging community knowledge and developer support can provide solutions and guidance for any security concerns that arise:

• Engage with forums and read publications from trusted sources
• Participate actively in community support channels like Lightning Dev mailing list

Closing Case

The security of the Bitcoin Lightning Network is a dynamic, ongoing process that demands vigilance, proactive strategies, and a well-rounded approach. By understanding and implementing these detailed protective measures, users and operators can significantly enhance the security integrity of their Lightning operations.

Further Learning and Official Documentation

For those looking for more depth on operating a Lightning node securely, consider the following resources:

• The GitHub Lightning Book provides extensive information on node operations and security.
• Engaging with the developmental community through active forums and mailing lists can offer real-time insights and help.

Secure, learn, and evolve; your journey in the Lightning Network awaits!

@ d0bf8568:4db3e76f

L'année en cours a été marquée par un événement exceptionnel réunissant passionnés, experts et novices dans l'univers fascinant de Bitcoin. "B-only", LA conférence alpine annuelle dédiée à la célèbre cryptomonnaie, a été bien plus qu'une simple réunion. Elle a été une expérience immersive mêlant présentations pointues, débats animés, échanges enrichissants, et une diversité d'activités qui ont laissé une empreinte durable dans les mémoires des participants. L'idée de créer notre propre événement dans les Alpes a germé après le succès retentissant du Bitcoin Economic Forum (BEF) organisé en mai 2023 en Bretagne. Portés par notre association AlpineChain.xyz, nous avons voulu offrir à la communauté francophone une expérience unique et authentique au cœur des montagnes.

Les Coulisses du B-only

Pour sa première année, l'organisation de B-only a été un défi excitant que nous avons relevé avec passion et détermination. Dès le vendredi 5 novembre à 14h00, notre lieu de rencontre s'est animé avec l'arrivée de près d'une centaine de participants, chacun prêt à plonger dans le monde captivant de Bitcoin. La première étape cruciale a été la sélection des intervenants. Nous avons soigneusement choisi des experts renommés dans divers domaines liés à Bitcoin ainsi que des passionnés, les « pleb », offrant ainsi à notre public une belle perspective sur l'état actuel et les perspectives futures de l’écosystème. Chaque intervenant a été invité à partager ses connaissances et ses idées de manière claire et accessible, afin que même les participants moins familiers avec les nuances techniques de Bitcoin puissent en tirer profit. Le cœur de l'événement résidait dans les débats qui suivaient chaque présentation. Ces discussions enflammées ont permis aux participants de poser des questions, de confronter des points de vue et d'explorer ensemble les enjeux complexes entourant Bitcoin. En ce qui concerne la logistique, rien n'a été laissé au hasard. Depuis le choix du lieu jusqu'à la gestion des inscriptions en ligne, nous avons veillé à ce que chaque détail soit pensé pour offrir une expérience fluide et enrichissante à nos participants. Des stands d'information aux pauses café propices aux échanges informels, tout a été orchestré pour favoriser un véritable sentiment de communauté.

Les Interventions Marquantes du B-only

La première journée du B-only a débuté avec une intervention de Jules-Félix Bayle sur le thème "Bitcoin Adoption & Dérive sectaire". Jules-Félix a exploré les nuances complexes de l'adoption de Bitcoin, en mettant l'accent sur la déstabilisation des croyances, la remodélisation des habitudes et le renforcement du monde binaire. Cette présentation a ouvert la voie à des débats animés sur la relation entre l'adoption de Bitcoin et les dynamiques sectaires. La deuxième présentation, dirigée par Thomas Mang, a exploré la question intrigante : "Bitcoin est-il à la monnaie fiat ce que le protestantisme a été au catholicisme ?" Thomas a plongé dans les analogies historiques, créant des parallèles entre les transformations dans le monde des monnaies numériques et les bouleversements historiques au sein des institutions religieuses. La troisième intervention, animée par @Jacques_BTC, a présenté le concept novateur de "AI-powered learning : Un concept d’auto-learning" (https://btctouchpoint.com). Jacques_BTC a partagé des idées sur l'auto-apprentissage alimenté par l'intelligence artificielle et a dirigé le public vers sa chaîne YouTube https://youtube.com/@btctouchpoint. Cette présentation a ouvert des perspectives sur l'avenir de l'apprentissage automatisé dans le domaine de Bitcoin. La dernière intervention de la première journée s'est déroulée en direct live du Salvador avec @DecouvreBitcoin, @Rogzy_DB et @ajelexBTC. Ils ont parlé de la "Programme d’éducation au Salvador", un plan quinquennal pour former de futurs entrepreneurs et ingénieurs dans le domaine du Bitcoin soutenu par l’initiative PlanB.

Les Moments Forts du Deuxième Jour

Le deuxième jour a débuté avec l'ouverture de la journée par @copinmalin d'@AnnecyBitcoin, devant la centaine de personnes dans le public à peine réveillé de la longue soirée. Cette introduction énergique a préparé le terrain pour une série de présentations fascinantes. La première intervention, "Satoshi était-il vraiment cyberpunk ?", a été présentée par @Urban_tech, explorant les origines et l'influence du mouvement cyberpunk sur la figure mystérieuse de Satoshi Nakamoto. Ensuite, @theomogenet a partagé le périple type d’un nouvel arrivant dans "Le voyage du Bitcoiner", offrant un aperçu unique de l'évolution personnelle et des défis auxquels les passionnés de Bitcoin peuvent être confrontés. La scène a ensuite été prise par @gillesCadignan, qui a présenté une exploration approfondie de l'histoire et de la raison d'être du maximalisme, avec un sommaire comprenant des aspects tels que la définition, l'historique du maximalisme, la mouvance Antima, les 50 nuances de laser eyes toximaxi, et l'invitation à "embrasser la toxicité".

BOnly a également accueilli @StachAlex qui a partagé des réflexions sur la souveraineté individuelle et collective, soulignant que "la possession, c'est votre clé privée, et la propriété, c'est la liberté de convertir vos #BTC en monnaie, biens ou services". Une invitation à ne pas être possédant, mais à devenir propriétaire.

Le deuxième jour a également été marqué par des présentations plus orientée technique tel que la possibilité d'un "Lightning cassé" avec @FanisMichalakis, aux contrats (de l'ère) numériques avec @nicolasCantuFR, en passant par l'exploration des DLC, actifs et monnaies synthétiques avec @scienceXBT. La journée s'est conclue avec une présentation instructive de @DavidStOnge sur les périodes de dévaluation monétaire, explorant les concepts complexes d'inflation et d'hyperinflation.

La Dernière Matinée

Le troisième jour de B-only a débuté avec Renaud Lifchitz alias @nono2357 qui a partagé ses connaissances dans une présentation pratique sur "Lightning Network en pratique", fournissant des informations pratiques et des conseils sur le fonctionnement concret des réseaux Bitcoin. La scène a ensuite été prise par Jimmy Chambrade de @BitcoinLyon qui a exploré les usages et l'expérience autour d'un bureau de change Bitcoin. Sa présentation a ouvert des perspectives sur les différents aspects des portefeuilles avec des options programmables, offrant aux participants un aperçu de première main de l'expérience utilisateur à venir. Le tout s'est conclu dans une ambiance de réflexion et de discussion, laissant aux participants le temps de réfléchir sur les informations partagées au cours des trois jours et de tisser des liens avant de se séparer.

L'Atmosphère et les Festivités de B-only

L'expérience de B-only ne se limitait pas aux présentations et aux débats captivants. Les repas, véritables moments de convivialité, ont été un aspect marquant de l'événement. Le réfectoire, transformé en lieu de partage, a été le théâtre de discussions animées autour de plats régionaux, copieux et délicieux. La tartiflette au reblochon a réchauffé les cœurs, tandis que la fondue a créé une atmosphère décontractée et sociale. Pour accompagner ces délices, la bière a coulé à flot, ajoutant une note festive à l'événement. Ce n'était pas seulement une conférence, mais une célébration où les participants ont pu échanger des idées tout en savourant la cuisine locale et en profitant de l'ambiance chaleureuse. Tout au long du week-end, la buvette a été un point central de convivialité. Les participants ont pu déguster des boissons rafraîchissantes tout en continuant les discussions animées. La particularité de cette buvette résidait dans la possibilité de payer en satoshis via le Lightning Network, démontrant ainsi les possibilités concrètes d'utilisation de Bitcoin pour des transactions quotidiennes. L'équipe s'est préparée de manière exemplaire avec leur terminal de paiement de @SwissBitcoinPay, facilitant ainsi les transactions en satoshis et montrant la praticité de l'utilisation de Bitcoin dans un contexte réel.

Les Cadeaux Souvenirs de B-only

B-only a été bien plus qu'une simple conférence. Tout au long du week-end, des exposants ont proposé une variété de produits en échange de satoshis, ajoutant une dimension commerciale à l'événement. @KonsensusFR était présent pour les amateurs de lectures, et les œuvres captivantes de @NAJP_ART et @Lady_Jane ont orné les bâtiments. L'équipe de @DecouvreBitcoin a été active aussi, représentée par @asi0_flammeus pour la partie vente et @jimzap21 avec Attakaï, une solution de chauffage avec un mineur silencieux. @Alepinechain a offert à chacun des participants un tote bag comprenant un magnifique pull B-Only, un tampon "Buy Bitcoin", et quelques autres surprises. La plupart de ces cadeaux, arborant fièrement des logos Bitcoin Lyon, ont non seulement renforcé le sentiment d'appartenance à la communauté, mais ont également servi de souvenirs tangibles de cet événement exceptionnel.

@scie_anse a été présent avec ses sauces piquantes de @SauceXBT. L'ajout de ces produits originaux a certainement apporté une saveur unique à l'événement, offrant aux participants une opportunité de découvrir des créations liées à la communauté Bitcoin. Parmi tous, @Mill3sim3 de https://bitcoinstore.fr a apporté une touche de bonne humeur et a généreusement offert des magnets, des goodies mais aussi vendu le jeux de @bigcoincoin pour les futures soirées à OrangePill des amis.

Un Chapitre Inoubliable

B-only a été bien plus qu'un simple événement ; c'était une célébration de la passion partagée pour Bitcoin et une occasion unique de tisser des liens au sein de notre communauté francophone. Les discussions enrichissantes, les idées novatrices, les moments de camaraderie, les festivités autour de la table, les exposants, les cadeaux souvenirs, les interactions entre participants, les œuvres artistiques, et la contribution du traiteur ont tous créé un chapitre inoubliable dans l'histoire de la communauté. Nous tenons à exprimer notre profonde gratitude envers tous les intervenants, les participants et les bénévoles qui ont contribué à faire de B-only un succès retentissant. Ensemble, nous avons tracé un chemin vers l'avenir passionnant du roi des cryptomonnaies, et nous sommes impatients de continuer à explorer les opportunités et les défis qui nous attendent. B-only restera gravé dans nos mémoires comme une expérience unique où la passion pour Bitcoin s'est mêlée à l'art, à la gastronomie, et à la convivialité.

@ c11cf5f8:4928464d

Let's hear some of your latest Bitcoin purchases, feel free to include links to the shops or merchants you bought from too.

If you missed our last thread, here are some of the items stackers recently spent their sats on.

@ 362ebffa:492e2719

Here is a bug report impacting Habla.news

How to lose all bookmarks in 3 easy steps:

• step 1 https://m.primal.net/IDWB.png

• step 2 Save an article in habla as bookmark https://m.primal.net/IDWF.png

• step 3 Return to Primal https://m.primal.net/IDWH.png

all bookmarks are gone!

Where are the lost bookmarks? Can they be recovered?

it seems to be a genuine bug when saving bookmarks in Habla.news

Can anybody confirms?

Who may I contact to report that bug?

https://github.com/verbiricha/habla.news

article originally posted on https://it-s-just-a-ride.blogspot.com/2024/05/hablanews-reset-nostr-bookmarks.html

@ 81870f53:29bef6a6

ほぼ一世代ぶりに、債券が実際にその名にふさわしいものとなった。

ある意味、これは米国の基準金利が 2 年間で 0% から 5% 以上に上昇したことの結果にすぎません。

しかし、ウォール街全体がFRBが今年実際に利下げするかどうかに注目しているようで、10年米国債利回りを4.5％にするべきか4.65％にするべきかについて激しい議論が巻き起こる中、重要な事実を見落としている。ほぼ20年間にわたりゼロ金利政策に「乗っ取られた」後、米国債はついに経済における伝統的な役割を取り戻したのだ。

言い換えれば、米国債は再び、投資家にとって、いつでも利回りに関係なく、毎年確実に将来にわたって信頼できる収入源となっているのです。

数字がすべてを物語っている。昨年、投資家は米国国債の年間利息を9000億ドル近く稼いだが、これは表面金利が90％を超えているため、この数字は今後も上昇し続けるだろう。対照的に、2020 年半ばには、債券利回りがこの水準に達したのはわずか 5% であり、投資家は少なくとも現在、利回り上昇の影響に耐えることができています。帳簿上、米国債が損失を出し始めるには、来年金利が75ベーシスポイント以上上昇する必要がある。

過去 10 年間で、この安全域はほとんどなくなりました。

約3,200億ドルの資産を運用するグッゲンハイム・パートナーズ・インベストメント・マネジメントの最高投資責任者であるアン・ウォルシュ氏は、「連邦準備制度の支援により、彼らは確かに収益を債券に再投資しており、債券投資家にとっては恩恵を受けることができる」と述べた。収量が増えるのは良いことだ。」

最近の 2 つの経済動向が彼らに有利に働きました。

まず、インフレはFRBが利下げを検討する可能性がある転換点に徐々に近づいているが、2％目標に向けた進捗は最近停滞しており、これにより利下げ期待は少なくとも今年下半期まで遅れている。

第二に、そしておそらくより重要なことは、米国経済が良好な勢いを維持していること（労働市場には若干の冷え込みの兆しが見られるものの）であり、これは連邦準備制度が緩和サイクルを開始する際に大幅な利下げを行う必要がないことを示している。

米連邦準備理事会（ＦＲＢ）のパウエル議長は先週の講演で金利据え置きを受けてこの様子見姿勢を強調したが、トレーダーらは現時点で年末までに２５ベーシスポイントの利下げは２回だけと予想している。 、かつては6回の利下げを予想していました。

ロイヤル・バンク・オブ・カナダ・キャピタル・マーケッツの米国金利戦略責任者、ブレイク・グウィン氏は、「経済の歯車が毎月外れた場合にどのような問題が起こるかについては誰も心配していない。また、（市場は）それを毎月予想している」と語った。 1か月間金利を引き下げる必要はない。」

その結果、1か月物国債から30年物国債に至るまで、米国債のような安全資産は、収益を求める誰にとっても利益をもたらすことができるようになりました。

金金金 今年2月、米国議会予算局は、今年個人に支払われる利子と配当は2010年代半ばの2倍以上となる3,270億米ドルに増加し、今後10年間は​​毎年増加し続けると予測した。 3月だけで、米財務省は債券保有者に利息として約890億ドル、つまり1分あたり約200万ドルを支払った。

皮肉なことに、米国債の新たな利回り自体が「長期にわたって高水準」という主張を維持するのに一役買っている可能性があるが、ウォール街では株価の高騰に伴い米国債の利払いが増加すると考える人が増えている。およびその他の債券投資はアメリカ国民に物質的な富効果をもたらしており、この追加の現金が救済小切手のような驚くほど柔軟な経済を支えていると考えられています。

もちろん、米国国債を保有する最大のポイントは、これらの債券がデフォルトにならないこと、株式よりも変動性が低いこと、そして米国国債の利回りが長年にわたってほぼゼロであったにもかかわらず、間違いなくインフレよりも高い固定収益率をもたらすことです。近年、インフレの蔓延とインフレ対策のための急激な利上げに直面して米国債が深刻な損失を被ったため、買い持ちオプションとしての需要が回復している。

この調整は痛みを伴うものではあるが、将来的にはより高いリターンと「より正常な」債券市場への道を切り開いた。

これに対し、投資家は一斉に反応し、短期証券（財務省証券など）に投資するマネーマーケットファンドの資産は先月、過去最高となる6兆1000億ドルに膨れ上がった。一方、EPFRのデータによると、債券ファンドは3000億ドルを吸収した。 2023年と今年これまでの資本流出額はそれぞれ1,910億ドルで、2022年の記録的な資本流出を逆転させた。個人向けの米国債の直接販売も大幅に増加した。

米連邦準備理事会（FRB）の統計によると、家計と非営利団体が抱える負債総額は2022年初め以来90％急増し、過去最高の5兆7000億ドルとなった。

パシフィック・インベストメント・マネジメントの最高投資責任者、ダン・アイバシン氏は、米国債から社債までさまざまな高格付け債券の利回り再調整は買収会社、ヘッジファンドマネジャー、民間信用機関に広範な影響を与えるだろうと述べた。これらの機関は、金利が最低水準にあるときに数千億ドルの資本を引き寄せます。

バック・トゥ・ザ・フューチャー 同氏はまた、株式と比較して債券は現在「非常に価値がある」と指摘し、FRBの評価モデル（FRBモデル）として知られる指標によれば、債券は2002年以降のどの時期よりも魅力的となっていると指摘した。

アイバシン氏は「債券商品に関する問い合わせは過去15年間で見たよりもはるかに多い」と述べ、投資家らは自問している、「6％や7％を獲得できるのに、なぜ物事をこれほど複雑にしなければならないのか」 、そして8％が債券からということは、まったく新しい買い手のグループを生み出したということですね。」

もちろん、これが必ずしも続くわけではありませんが、たとえ連邦準備理事会が利下げを開始したとしても、利回りは金融危機後の水準に戻らないと考える十分な理由があります。これは、債券に対する需要が高まっていることを意味します。続く可能性が高い。

第一に、インフレに対する懸念は依然として根強く、これはサプライチェーンの非グローバル化などの傾向によって部分的に引き起こされており、投資家はインフレを調整した後でも利回りが上昇することから収入を守る必要があるため、金利の急激な低下が妨げられる可能性がある。現在は 2% を超えています。これが最後に続いたのは 2008 年の金融危機以前です。

さらに、アメリカの巨額の財政赤字は、終わりのない新債券の供給によって賄われることがほぼ確実であり、これにより利回りが高水準に保たれるだけでなく、債券投資家にとって金利収入の増加源にもなるだろう。

約3500億ドルを運用するルーミス・セイルズ・アンド・カンパニーのマネーマネジャー、マット・イーグレン氏は「これは未来への回帰、つまり平常時への戻りのようだ」と述べ、「かなり大きな変化だ」と語った。

この記事がお役に立てば幸いです。 もしそうなら、チップをおくるどうぞ https://getalby.com/p/bitcap

@ a012dc82:6458a70d

En Latinoamérica, la inflación es un tema de nunca acabar, salarios que no llenan las expectativas de la gente trabajadora que los llevan a buscar otras alternativas para palear la economía, cada vez es más común encontrarse con personas hambrientas de conocimiento en los temas de generar ingresos de forma digital y es por eso que en República Dominicana un hombre con visión de futuro se dio a la tarea de formar Bitcoin Dominicana.

La misión de esta institución es enseñar y empoderar a las comunidades con ganas de aprender, que gratamente son cada vez más jóvenes, es decir, la información que se maneja es viable y amigable para todo tipo de público ya que se adaptan a las necesidades de cada quien. En este podcast conoceremos un poco más acerca de qué es, y cómo funciona Bitcoin Dominicana de la mano de nuestro entrevistado Pedro Vital.

Tabla de Contenidos

• Introducción

• ¿Qué te motivó a incursionar en Bitcoin?

• ¿Cómo funciona Bitcoin Dominicana?

• ¿Cómo es la receptividad del público juvenil?

• ¿Cómo abordan el aprendizaje de bitcoin en los niños y jóvenes?

• ¿El sector turismo se está beneficiando con bitcoin?

• Conclusión

• Preguntas Frecuentes

Introducción

Latinoamérica principalmente ha sido víctima de sus malos gobiernos que nos han llevado por caminos inciertos haciendo de nuestra economía un juego de azar, esta inestabilidad económica ha llevado a las personas a incursionar en la minería de bitcoin muchas veces tentando la suerte por falta de conocimiento, es por eso que personas como Pedro Vital se han dado cabida ´para compartir sus experiencias y así ayudar a la comunidad a forjarse como personas capacitadas y puedan minar con muy bajo riesgo. ¿Qué te motivó a incursionar en Bitcoin? Realmente fue por un tema de curiosidad, pero una vez me di cuenta lo que sucedía en el salvador comprendí que efectivamente estaban sucediendo cosas muy descentralizadas, es por eso que llamo tanto mi atención y decidí continuar, lo que dio origen a bitcoin dominicana.

¿Cómo funciona Bitcoin Dominicana?

Bitcoin Dominicana, básicamente es una entidad dedicada al estudio de bitcoin, comprender su funcionamiento y manejo, pero también vamos más allá, dando apoyo a madres y padres que desean emprender, en este momento trabajamos con adolescentes ya que es importante que las comunidades comiencen jóvenes ya que lo importante es que este mundo del bitcoin no es para millonarios, si no para millones.

¿Cómo es la receptividad del público juvenil?

Son un público muy receptivo, ya que los más jóvenes lo ven como un juego. Sus edades van desde los 7 hasta los 16, 18 años de edad y como no tienen un hobby fijo adoptan bitcoin como una manera de vida, al igual que en todos los paises de latinoamerica, Dominicana no escapa a la inflación que cada día debilita más la moneda nacional, es por eso que ahora mismo los jóvenes a diferencia de los jóvenes de hace años atrás, buscan la manera de generar dinero por internet, y el hecho de poder comprar un poco de bitcoin con los pesos que puedan tener, resulta muy satisfactorio para ellos.

¿Cómo abordan el aprendizaje de bitcoin en los niños y jóvenes?

Es bastante sencillo enseñarles, es como si sus mentes ya vinieran prediseñadas para entender las cosas tecnológicas, entonces la manera que tenemos para hacer más sencillo su enseñanza es a través de plataformas y juegos digitales, donde ellos realizan pequeñas recargas y lo ven a manera de recompensas y a la vez se empoderan recibiendo formación financiera.

¿El sector turismo se está beneficiando con bitcoin?

Ahora mismo la industria del turismo está creando una alianza con la industria de la minería, creando una simbiosis en la que todos estos sectores se verán beneficiados, siendo que Dominicana tiene todo lo que la gente busca, no solo playas, sino que también contamos con lo que es montañas, ríos, en fin, el bitcoin es el futuro del turismos no solo en dominicana, sino a nivel de Latinoamérica y el mundo.

Conclusiones

En Dominicana no solamente el turismo es el fuerte, ahora mismo la plataforma bitcoin está tomando auge, Bitcoin Dominicana está marcando la pauta entre la comunidad tanto joven como adulta en cuanto al aprendizaje del manejo de esta moneda fuerte que día con día promete ir en franco crecimiento dando una notable valía a los esfuerzos por aprender acerca de ella.

Lo más idóneo sería que los gobiernos tanto en la República Dominicana como de los demás países de latinoamérica y el mundo es amistarse con el bitcoin como moneda fuerte, ya que si bien no comulga con la impresión de dinero físico, es la manera más viable de hacer crecer la economía tanto de la población como de las naciones en general.

Preguntas Frecuentes

¿Qué significa halving? En concreto, el halving es un evento que ocurre aproximadamente cada cuatro años y reduce a la mitad la recompensa que reciben los mineros por validar transacciones en la red de Bitcoin, reduciendo así el suministro de la criptomoneda pionera. ¿Cuál es el mejor intercambio para comprar bitcoins en República Dominicana? Hay 5 intercambios confiables operando en la República Dominicana, siendo los más populares Kraken, eToro y Gemini . Puede revisar cada uno de estos intercambios y encontrar el mejor intercambio que funcione para usted.

¿Qué pasa con Bitcoin después del Halving? La recompensa de Bitcoin es de 6,25 BTC. Sin embargo, después de la cuarta reducción a la mitad, la recompensa bajará a 3,125 BTC. Como resultado, la cantidad de Bitcoins en circulación se hace aún más escasa, provocando un aumento de la demanda entre los inversores.

Esto es todo por hoy, nos vemos mañana

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DESCARGO DE RESPONSABILIDAD: Nada de esto es un consejo financiero. Este boletín es estrictamente educativo y no es un consejo de inversión ni una solicitud para comprar o vender activos ni para tomar decisiones financieras. Tenga cuidado y haga su propia investigación.

@ d34e832d:383f78d0

Transaction Signing

The process of signing and verifying transactions in the Bitcoin network is fundamental to its security and integrity. Let's delve into how transactions are signed and verified, based on insights from [0].

Transaction Signing Process

1. Initialization: The signing process kicks off with SignTransaction in scriptsign.cpp, where each transaction input is signed individually. This function iterates through the inputs of the transaction it receives.

2. Loop Through Inputs: For each input, the script retrieves the corresponding coin's public key and amount from a cache of unspent transaction outputs (UTXOs).

3. Signature Data Preparation: Using DataFromTransaction, all necessary information required to produce a signature for that coin is gathered within a SignatureData struct. This includes checking whether the scriptSig and scriptWitness are complete, along with their contents and any redeem or witness scripts.

4. Producing the Signature: With the signing data prepared, ProduceSignature is called to generate the actual signature for each input, typically signed with a SIGHASH_ALL flag.

Verification Process

While the verification process differs from signing, it utilizes similar elements of Bitcoin's scripting system, aiming to facilitate future upgrades seamlessly. As mentioned in [3], Bitcoin's script system is crucial for ensuring compatibility with new features like taproot or schnorr signatures.

Mechanism of Verification

The verification process leverages Bitcoin's script format, using a script matching an address to verify the message. This entails replacing every signature verification operation with one that checks the provided message instead of a transaction. This flexible mechanism ensures Bitcoin's adaptability to evolving requirements and technological advancements.

Conclusion

In essence, the signing and verification processes in Bitcoin are meticulously designed to ensure transactions' authenticity and security. By following a structured approach to signing and utilizing the scripting system for verification, Bitcoin maintains a robust and adaptable network architecture.

Enhancing Bitcoin Transactions with SIGHASH Types

In Bitcoin, the signature hash (sighash) type plays a pivotal role in determining how transactions are signed and verified. Let's explore the various SIGHASH types and their significance, based on insights from [0].

Understanding SIGHASH Types

1. SIGHASH_ALL: This default type commits to all inputs and outputs of the transaction, preventing alterations to any part of the transaction without invalidating the signature. It ensures high security by fixing every aspect of the transaction within the signature.

2. SIGHASH_NONE: Unlike SIGHASH_ALL, this type allows changing where the bitcoins will go after the initial signature, providing flexibility in specifying transaction outputs while still securing the inputs.

3. SIGHASH_SINGLE: With SIGHASH_SINGLE, the signature commits to a single input and a corresponding output, allowing for more flexible transactions where the signer only cares about specific outputs.

4. SIGHASH_ANYONECANPAY: This modifier allows the signer to specify that the signature only commits to one input of the transaction, enabling others to add additional inputs later. It opens possibilities for scenarios like crowdfunding.

Tailoring Security and Flexibility

Each SIGHASH type offers a balance between security and flexibility, allowing users to customize the signing process to meet their specific needs or contractual arrangements. Understanding these nuances is essential for developers and users navigating complex transactions on the Bitcoin network.

In summary, SIGHASH types play a crucial role in enhancing the security and flexibility of Bitcoin transactions, empowering users to tailor transaction signing according to their requirements within the Bitcoin protocol.

Conclusion

From the meticulous signing process to the versatile SIGHASH types, Bitcoin's transaction framework is intricately designed to ensure authenticity, security, and adaptability. By embracing these mechanisms, Bitcoin continues to evolve as a robust and resilient decentralized network.

Sources: - [0]: Insights into Transaction Signing and Verification - [1]: Understanding Bitcoin's Script System - [2]: Bitcoin Scripting for Future Upgrades - [3]: Adaptability of Bitcoin's Script System - [4]: SIGHASH Types and Transaction Security - [5]: Flexibility of SIGHASH_ANYONECANPAY

@ c73818cc:ccd5c890

👄 MicroStrategy ha annunciato MicroStrategy Orange, una piattaforma di identità decentralizzata (ID) basata su Bitcoin. Seppur l'utilizzo di Bitcoin per l'identità digitale possa sembrare allettante, sorgono preoccupazioni significative in termini di centralizzazione, controllo dei dati e privacy.

👄 Funzionalità di MicroStrategy Orange:

👄 Creazione e gestione di identità digitali basate su Bitcoin. 👄 Verifica e autenticazione di identità in contesti online. 👄 Collegamento di identità digitali a informazioni personali e altri dati.

👄 Preoccupazioni relative a MicroStrategy Orange:

👄 Centralizzazione: MicroStrategy Orange è una piattaforma centralizzata, in contrasto con i principi di decentralizzazione e autocustodia fondamentali per Bitcoin. 👄 Controllo dei dati: MicroStrategy avrà il controllo sui dati degli utenti della piattaforma, creando un punto di vulnerabilità e potenziale abuso. 👄 Violazione della privacy: L'archiviazione di informazioni di identità sulla blockchain di Bitcoin, pur essendo immutabile, solleva dubbi sulla privacy e sulla potenziale esposizione a sorveglianza.

👄 Perché anche i sostenitori dell'identità digitale dovrebbero essere cauti:

👄 Contrasto con la visione di Satoshi: L'approccio di MicroStrategy sembra deviare dalla visione di Satoshi Nakamoto, il creatore di Bitcoin, che enfatizzava la pseudonimità e la minimizzazione dei dati identificativi sulla blockchain. 👄 Alternative decentralizzate: Esistono protocolli decentralizzati come Sphinx e TBDI che utilizzano Lightning Network per creare sistemi di identità privata e scalabili su Bitcoin. 👄 Sovranità individuale: L'identità digitale dovrebbe essere basata sull'autocustodia e sulla sovranità individuale, non su piattaforme centralizzate come MicroStrategy Orange.

👄 Michael Saylor, seppur sia una figura molto stimata nella community Bitcoin, continua ad avere comportamenti molto discutibili e sembra essere più un danno per la community, piuttosto che una risorsa. Che legami ha con BlackRock? Come mai Vanguard, che controlla parte di MicroStrategy si è detta contraria a Bitcoin, quando le è stato domandato come mai non avesse fatto un suo ETF? Ed ora le identità digitali... questa cosa dovrebbe far riflettere in molti, prima che sia troppo tardi.

Seguici sui nostri canali social ed unisciti al nostro gruppo Telegram:

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BitcoinReportItalia #MicroStrategy #Vanguard #MichaelSaylor #ETF #IdentitàDigitale #IDdigitale #Agenda2030 #WEF #BTC #Bitcoin

@ fbe736db:187bb0d5

This is a slightly edited version of the article published in Bitcoin magazine in December 2021.

As we come to the end of 2021, it’s popular to reflect on the year gone by, and produce crystal balls to predict the future bitcoin price.

Firstly, though, one of my favourite thoughts about the future in general comes from Jeff Bezos.

“I very frequently get the question ‘What’s going to change in the next 10 years?’ And that is a very interesting question; it’s a very common one. I almost never get the question ‘What’s not going to change in the next 10 years?’ And I submit to you that that second question is actually the more important of the two — because you can build a business strategy around the things that are stable in time … When you have something that you know is true, even over the long term, you can afford to put a lot of energy into it.”

For Amazon, what Bezos meant was that for them what won’t change is that customers will want a large choice of products, low prices, and speed of delivery. This is what they have built Amazon around.

So how does this apply into the coming year, and to Bitcoin? As we enter 2022 we live in a hugely uncertain world, with COVID-19, record debt levels, rising inflation, socioeconomic inequalities and rising geopolitical tensions. I submit to you in turn that Bitcoin’s monetary policy and general structure is one of the very few things on the planet that are not going to change over the next 10 years, or the next 20 years, or even the next 30 years. And that stability is a source of strength for anyone holding bitcoin, and a major incentive for anyone considering holding it.

Let’s further consider that 30-year time period for a second in the wider macro context. As I write this (December 7), the 30-year U.S. Treasury yield is approximately 1.7% per annum. This suggests that if we buy a 30-year treasury bond and hold it until 2051, it will return 1.7% per year, or approximately 66% compounded. $1,000 would become $1,660 in 2051 if compounded at that rate.

Though that treasury return is termed “risk-free,” we can’t predict the purchasing power of those dollars in 30 years time. No one can say. And if you want to envisage just how far away 2051 is, consider that 30 years back in time is 1991. We’re talking a world just after the fall of the Berlin Wall, of the Gulf War (the first one), of Mikhail Gorbachev, of President George Bush (senior); all this was before the explosion of the internet, and when mobile phones were for yuppies.

What would have an investor been faced with back in 1991, considering a 30-year treasury investment? The approx 30-year yield at the end of that year was 7.4% per annum. That’s compared to 1.7% now, as noted earlier. Prices are inverse to yields, so today’s bond prices are sky high by comparison to 30 years ago. And since other asset classes (equity, property, etc.) are priced relative to the risk-free rate, it is not surprising we are in an everything bubble.

It’s for this reason that the likes of Preston Pysh and Greg Foss predict bitcoin potentially eating into global bond markets. It matters little that bitcoin has no risk-free yield when an increasing number of bonds are negative-yielding in real terms. And for a long-term investor, what are the chances that $1,000 worth of Bitcoin will likely return more than $1,660 in 30 years time? If you agree that it could be vastly higher, even if you still assign a probability that Bitcoin dies, then perhaps you’re onto a question of position size.

So what of the future bitcoin price? I like the analogy of bitcoin as an economic battery, charging up on increasing adoption, and decreasing in value in periods where holders run for the hills. The price is simply a snapshot in time of buyer meeting seller at the margin to agree the latest price for acquiring the use of this battery for a certain amount of bitcoin.

Why would this be hard to predict? For starters - for every participant, their holding could also be viewed as a two-dimensional function of how much bitcoin they hold, and how long they are holding it for. Term it “bitcoin years” (210 million of those every decade) or “satoshi seconds” (considerably more). On an ongoing basis all participants and potential participants continually act.

Given the supply is fixed, the only element that determines price is demand — from new buyers that don’t yet hold bitcoin, but also continued demand from existing holders continuing to accumulate and hodl — i.e., how long is that time period? It’s nigh on impossible to accurately predict either future demand from newcomers, and continued participation from current bitcoiners. Therefore any models seeking to predict future price are almost by definition junk, including stock-to-flow ( listen to Cory Klippstein here if you want far better specifics on this). It’s for this reason too that Michael Saylor says “All your models are destroyed”

https://twitter.com/swanbitcoin/status/1318574499546234886?lang=en

This is not to say I’m not hugely bullish. It’s just that bitcoin price predictions are a bit of a waste of time. Back to the sentiment of Bezos — don’t try and predict exactly what will change in the world in future, but focus more on the core elements of Bitcoin that won’t change.

@ 1c6b3be3:73f0ae6f

The air was electric with anticipation as Ava stepped onto the stage, her eyes scanning the packed auditorium. This was her moment – the culmination of years of hard work and countless sleepless nights spent hunched over her computer, coding and tinkering with the cutting-edge Layer-2 (L2) solution she had developed for the Bitcoin network.

Ava had always been fascinated by the potential of blockchain technology, and the launch of the Runes tokens had only heightened her determination to find a way to unlock Bitcoin's true power. As the network struggled to keep up with the surge in transactions, Ava knew that the time had come for a game-changing solution.

Her project, dubbed "Quantum Leap," had been selected for the prestigious Crypto Accelerator program, putting her in the spotlight of the entire crypto community. Standing before the eager crowd, Ava took a deep breath and began to unveil her vision.

"Ladies and gentlemen, the future of Bitcoin is here," she declared, her voice brimming with confidence. "Quantum Leap is a revolutionary L2 protocol that not only solves the scalability and transaction fee issues plaguing the network, but also future-proofs Bitcoin against the looming threat of quantum computing."

The audience erupted in applause, and Ava couldn't help but feel a surge of pride. But as she stepped off the stage, she was met by a familiar face – Liam, a seasoned crypto trader and early Bitcoin adopter.

"Impressive work, Ava," Liam said, his eyes gleaming with excitement. "I've been following your project, and I believe it could be the key to unlocking Bitcoin's true potential. I'd like to invest in Quantum Leap – and I think I know just the person who can help us take it to the next level."

Ava's heart raced as Liam introduced her to Dr. Xiang, a brilliant computer scientist leading a team of researchers at the forefront of quantum computing research. Together, they embarked on a mission to create a quantum-resistant L2 protocol that would revolutionize the Bitcoin network.

The months that followed were a whirlwind of intense collaboration, sleepless nights, and breakthroughs that pushed the boundaries of what was thought possible. As the team worked tirelessly to perfect their creation, the crypto world watched with bated breath, eager to see what this new L2 solution could achieve.

Finally, the day of the Quantum Leap launch arrived, and Ava, Liam, and Dr. Xiang took the stage once more, this time to unveil their groundbreaking creation. As the details of the protocol unfolded, the audience erupted in thunderous applause, realizing that they were witnessing a pivotal moment in the history of Bitcoin.

The Quantum Leap protocol not only solved the network's scalability and transaction fee issues, but it also introduced a new era of decentralized applications, smart contracts, and user-friendly interfaces that made Bitcoin accessible to the masses. The future of the world's first cryptocurrency had been forever transformed, and Ava, Liam, and Dr. Xiang had played a crucial role in ushering in this new era of innovation and adoption.

As the crowd dispersed, Ava couldn't help but feel a sense of awe and wonder. The Runes tokens had been the catalyst, but the Quantum Leap protocol had been the key to unlocking Bitcoin's true potential. The future was Layer-2, and she couldn't wait to see what the next chapter would hold.

@ fbe736db:187bb0d5

This article was published in Bitcoin magazine in October 2021.

At “The B Word” conference earlier in the summer, there was a memorable panel event with Elon Musk, Cathy Wood and Jack Dorsey in which we were able to ascertain a little more (than we had often seen in tweets) about Elon Musk’s Bitcoin views. This article is an attempt to dissect and evaluate what he said around Bitcoin’s block size.

Firstly, let’s review what was said (starts at 18:15):

Steve Lee (panel host) — “Elon, I’m curious for your opinion on this — you mentioned, earlier about the importance of throughput, maybe some concerns around bitcoin. Do you think bitcoin can become peer-to-peer cash?”

Elon Musk — “Well, Bitcoin does have a fundamental scarcity limit at the base layer, that’s designed in; that doesn’t mean you can’t have some Layer 2 solution, like Lightning — I understand Lightning is doing well in some small countries.

“There is some question mark as to whether you’d need a money transmitter license, just a debate as to whether that is needed, that it is not open ledger; that’s a whole separate debate, of course.

[Interesting rereading this in 2024 - Elon Musk foresaw this attack on Bitcoin a couple of years prior; not that it particularly validates his comments.]

“But Bitcoin by itself simply can’t scale to be the monetary system for the world at base layer. At a second layer, this is possible — it would depend on how that second layer is implemented.

“That’s part of why I think there may be some merit to, er, — something that may seem silly — like Dogecoin.. the three things I own outside from SpaceX and Tesla ..of any significance are bitcoin by far, and some eth and some doge. If the price of bitcoin goes down I lose money.. I might pump but I don’t dump. So it’s not a case of.. I don’t believe in getting the price high and selling or anything like that ..I would like to see bitcoin succeed.

“I think there’s some merit to — this is not a slam on Bitcoin — there is some merit to considering something that has a higher max transaction rate, and lower transaction cost — kind of seeing how far you can take a single layer network, where the exchanges act as a de facto second layer. I think you can probably take that further than people realise, and as bandwidth increases over time, latency decreases… Space X and Starlink are actually playing a role in this, and I think long term people probably have access to — worldwide access to — gigabit level connectivity at low latency, at low cost. And so then your base layer could do a lot of transactions if you take that into account.

“But as I said, Bitcoin with the Layer 2 system, I still think, could scale to do a vast number of transactions — the same goes for Ethereum.”

Steve Lee — “The question about the scaling of the Layer 1 — the concern from the past five years of debate in the Bitcoin community — is that that would sacrifice too much decentralisation, and hurt the censorship-resistant properties of bitcoin. I’m curious, what are your thoughts — are you sensitive to that, are you concerned about losing some of the special properties of bitcoin or another cryptocurrency by scaling at Layer 1?”

Elon Musk — “Yeah, with these things it’s helpful to use the physics tools of thinking; you know scale up, scale down, and see if it still makes sense. So if scaling up the transaction block doesn’t make sense, why don’t you scale it down? And have it be so somebody, you know, with a laptop from 2008 can still run a Bitcoin node. Why not slow it down. Oh. You want to slow it down? Well, maybe you’re at the wrong number then (laughs).”

Steve Lee — “There are actually members of the community who do want to slow it down!”

Elon Musk — “It’s silly. The reality is, the average person is not going to run a bitcoin node. And — Bitcoin — a lot of clever ideas, but these parameters were set in 2008, or 2009. There have been some improvements since then, but not a lot. You know, in 2008 there were still a non trivial number of people on modems (laughs)… nowadays it is quite common to get a 100mbs connection just for a house — some houses have gigabit connections… and that trend is obviously in the direction of higher bandwidth and lower latency. And if somebody else doesn’t do it, Starlink certainly will, so I have high confidence you would be able to maintain a decentralised finance system whilst still having a much bigger blockchain.. A.k.a. ASCIItext ledger, a hash ledger — you can make the hash ledger bigger, without harming decentralisation, as the average connectivity improves, obviously.”

Many Bitcoiners will have rolled their eyes at these comments, with the block-size war (read the excellent book by Jonathan Bier of the same name) around 2015–17 still a recent memory. However, dissecting the comments remains key to an understanding of bitcoin’s unique value, versus other cryptocurrencies.

In some respects, Elon Musk has a point. If Bitcoin were developed for the first time today, it might not have been given the same parameters as it has had since its outset. Elon Musk is a visionary in other fields, and it’s only natural that a character like him might ask what might be, as opposed to accepting what is. However, before you go searching for the most viable alternative altcoin to back which has bigger blocks, it’s worth considering that Bitcoin probably could have been established at outset with half the current block size, or double the block size, and still been in a similar position as it is today. Much in the same vein, and a more trivial example — was 21 million coins the right number to choose?

How so? One anecdote I’d highlight to describe the position Bitcoin is in is the plug socket analogy used by Robert Breedlove (and no doubt others) to describe Bitcoin’s inaugural, first-mover lead over others. There may be better plug socket designs out there now, but entire nations are not going to shift designs for all sockets and appliances unless there is a 10x advantage to be derived from the new one.

The fact is, Bitcoin has a near-unassailable lead in terms of security of the network, nodes, users, and the surrounding ecosystem. I’d recommend a read of Nic Carter’s article on settlement assurance which much better articulates this.

At the heart of the argument also lies the whole concept of digital scarcity, upon which bitcoin derives most of its value. If any other cryptocurrency overcomes bitcoin, what is to stop the next incumbent from in turn overcoming it? This for me would cast doubts over the existence of any meaningful digital scarcity, and hence store of value potential, from any cryptocurrency at all. This could still turn out to be the case, but it doesn’t lead us to Doge.

I’d disagree slightly with Elon Musk’s assertion that the average person is never going to run a Bitcoin node; as might Umbrel, who have just this week unveiled an “out of the box” solution for doing so. The market will no doubt drive this cost down significantly over time and make it easier still. As bitcoin adoption increases, it would be healthy to see far more nodes running than there are now. As fellow Bitcoin Magazine contributor Mitch Klee has tweeted, it’s not inconceivable that smartphones could have capacity to store the Bitcoin blockchain and run a node in future. Shinobi has pointed out in turn that there may be bottlenecks here — CPU / RAM / data plans, for example. But one thing’s for sure — with a fixed block size the number of nodes should increase over time, which is healthy and arguably necessary for the network.

In summary, whilst Elon Musk was right to point out that larger block sizes may appear more desirable now and into the future on paper, any advantage gained here versus Bitcoin in its current form is slender, and unlikely to be selected by the market compared to Bitcoin’s existing and wholly unique properties.

Does Elon Musk ultimately recognise this? On the basis that actions speak louder than words (and his actions so far this year have been to buy and hold quite a large amount of bitcoin), I wouldn’t rule it out. Time will tell.

@ d34e832d:383f78d0

Specific challenges coupling the use of differential heuristics in A* algorithm aim to overcome in the Lightning Network

The Lightning Network presents a labyrinth of challenges when it comes to efficient routing, with obstacles like varying channel capacities, fees, and availability complicating the process. Differential heuristics within the A algorithm are engineered to tackle these obstacles head-on, aiming to overcome specific challenges, including: Reducing the Number of Nodes Visited During Pathfinding*

In the sprawling expanse of the Lightning Network, conventional pathfinding algorithms often get lost in a maze of possibilities. Differential heuristics act as a guiding light, leading the search algorithm directly to the optimal route while minimizing the number of nodes visited. This efficiency streamlines the pathfinding process, as highlighted in [0]. Handling Irregular Terrain or Obstacles

Just as hikers navigate rugged landscapes, differential heuristics navigate the irregular topology of the Lightning Network. Each channel represents a unique terrain feature, with its own set of challenges. By adapting to these obstacles, differential heuristics optimize routing decisions, ensuring transactions flow smoothly across the network ([2]). Improving Pathfinding Efficiency

Time is of the essence in Lightning Network transactions. Differential heuristics inject speed into the pathfinding process by leveraging multiple heuristics and their differences. This optimization not only saves computational resources but also ensures lightning-fast routing, essential for seamless transactions ([4]).

Adapting to Dynamic Changes

The Lightning Network is in constant flux, with channels opening, closing, and balances shifting. Differential heuristics are adept at navigating this ever-changing landscape, adjusting their strategies dynamically. While cached data may need occasional recalibration, the adaptability of differential heuristics ensures swift responses to network dynamics ([5]).

In essence, differential heuristics within the A* algorithm serve as beacons of efficiency in the Lightning Network's intricate web. By addressing challenges related to pathfinding efficiency, dynamic adaptability, and network complexity, they pave the way for smoother transactions and an enhanced user experience.

Sources: - [0]: Optimizing Pathfinding Efficiency - [1]: Improving Payment Success Rates - [2]: Navigating Irregular Terrain - [3]: Ensuring Security and Privacy - [4]: Efficient Pathfinding Strategies - [5]: Understanding Lightning Network Dynamics

@ d34e832d:383f78d0

The Lightning Network, a second-layer solution built on top of the Bitcoin blockchain, offers a promising avenue for fast and cost-effective transactions. However, routing payments through this network presents its own set of challenges. Let's delve into the different approaches to routing transactions on the Lightning Network and how they address these challenges.

Source Routing

Traditionally, the Lightning Network has relied on source routing, where the sender calculates the entire payment route before initiating the transaction. While this method ensures strong privacy since only the sender knows the complete path, it can become less efficient as the network grows due to the increasing complexity of finding optimal routes.

JITRouting (Just-In-Time Routing)

JITRouting is an improvement that learns from past routing attempts. When a payment fails, the network uses this information to avoid inefficient paths in future attempts. This adaptive approach enhances routing efficiency by leveraging past failures to guide future routing decisions.

Multipath Payments (MPP)

To overcome the limitations of single-path payments, Lightning incorporates Multipath Payments (MPP). This approach splits a payment into smaller parts routed separately through the network, increasing the likelihood of successfully routing large payments without relying on a single path with sufficient capacity.

Use of Differential Heuristics in A* Algorithm

The Lightning Network community explores the use of differential heuristics in the A* algorithm for map preprocessing. This technique reduces the number of nodes visited during pathfinding, especially in complex network topologies, optimizing route discovery and enhancing network efficiency.

Permuteroute Algorithm

The Permuteroute algorithm offers an alternative approach to route discovery by efficiently finding paths between nodes without scanning a large number of channels. While providing immediate benefits, it is considered alongside broader improvements like incorporating past pathfinding attempts into mission control within Lightning software.

Collaborative Routing with Routing Hints

Collaborative routing involves using routing hints included in payment requests to suggest intermediate nodes or channels that could facilitate the payment. This method improves routing efficiency and potentially enhances privacy by offering multiple route options.

These diverse approaches underscore the ongoing development and optimization efforts within the Lightning Network community. By leveraging these strategies, the Lightning Network aims to provide a scalable, efficient, and private framework for routing micropayments over Bitcoin.

---

Sources:

• [0]: GitHub Discussion on Lightning Network Routing
• [1]: Understanding Multipath Payments on Lightning Network
• [2]: Exploring Differential Heuristics in A* Algorithm
• [3]: Permuteroute Algorithm Proposal
• [4]: Collaborative Routing with Routing Hints

Harnessing the Power of Multipath Payments in Lightning Network Routing

Can multipath payments be used in combination with other routing strategies to further enhance routing efficiency?

Multipath payments (MPP) offer a promising avenue to improve routing efficiency on the Lightning Network. When integrated with other routing strategies, MPP not only enhances transaction success rates but also optimizes fee management, privacy, and network load distribution.

Combining MPP with Source-Based Pathfinding

Source-based pathfinding, where the sender calculates the route, can be seamlessly integrated with MPP. By splitting large payments into smaller parts and finding multiple optimal routes simultaneously, this combination improves success rates while balancing the network load. This approach, as discussed in [3], ensures better channel capacity utilization and reduces congestion.

MPP and JIT Routing

Just-In-Time Routing (JITRouting), while not explicitly mentioned in the provided context, dynamically adjusts routing decisions based on real-time network conditions. When paired with MPP, JITRouting can adapt the sizes of payment parts or choose different routes based on changing channel capacities. This adaptive strategy ensures efficient payment completion, even in the face of sudden network changes.

Strategic Fee Optimization

Leveraging MPP allows senders to strategically optimize fees by choosing the most cost-effective paths for each payment fragment, as suggested in discussions from [0] and [5]. By splitting payments and selecting routes based on fee structures, this approach minimizes transaction costs without compromising efficiency.

Enhancing Privacy with MPP

Integrating MPP with privacy-enhancing techniques, such as onion routing for each part of a multipath payment, further obscures transaction trails. By diversifying payment paths, MPP makes it challenging for observers to trace fund movements, enhancing overall transaction privacy.

Incorporating MPP into Lightning Network Routing

Incorporating MPP into Lightning Network routing strategies not only addresses the limitations of individual approaches but also maximizes their strengths. This synergy results in a more resilient, efficient, and private Lightning Network, showcasing the ongoing innovation within the Lightning community.

By harnessing the power of MPP alongside other routing strategies, the Lightning Network continues to evolve, offering faster, more cost-effective, and private transactions for users worldwide.

Sources: - [0]: Linux Foundation - MPP and Fee Optimization - [1]: Linux Foundation - Privacy Enhancement with MPP - [2]: Linux Foundation - JITRouting and MPP - [3]: Lightning Network Book - Understanding Routing Strategies - [4]: Linux Foundation - Optimizing Network Load with MPP - [5]: Linux Foundation - Strategic Fee Optimization

Maximizing Routing Effectiveness with Routing Hints in the Lightning Network

How do routing hints improve collaborative routing effectiveness in the Lightning Network?

Routing hints serve as invaluable tools within the Lightning Network, significantly enhancing collaborative routing effectiveness by providing essential information to streamline payment processes. These hints, embedded within payment requests, offer insights into potential routes or intermediate nodes, optimizing transaction pathways and bolstering network efficiency.

Facilitating Payments Through Unannounced Channels

Unannounced channels, concealed from the public channel graph, are vital components of Lightning Network transactions. Routing hints, as detailed in [2] and [3], empower payments to navigate through these hidden channels effectively. By leveraging routing hints, participants can exploit unannounced channels, expanding routing options and bolstering the network's capacity to facilitate transactions discreetly.

Improving Payment Success Rates

Routing hints enhance payment success rates by revealing alternative paths beyond the public network graph, as discussed in [0]. When conventional routes face constraints such as capacity limitations, routing hints offer alternative pathways, ensuring smoother transaction completion. This flexibility minimizes transaction failures and optimizes the overall efficiency of the Lightning Network.

Enhancing Privacy and Security

Beyond facilitating payment delivery, routing hints fortify transaction privacy and security. By steering transactions away from heavily monitored channels, these hints safeguard user anonymity. Moreover, routing hints contribute to security by diversifying transaction pathways, mitigating potential threats targeting transaction flows, as highlighted across the provided sources.

Supporting Decentralization Efforts

Routing hints play a pivotal role in advancing the Lightning Network's decentralization agenda. By empowering payments to traverse diverse channels, including unannounced ones, these hints foster network inclusivity. Smaller nodes and those with unannounced channels can actively participate, redistributing routing responsibilities and promoting a more decentralized network architecture.

In essence, routing hints are indispensable elements that bolster collaborative routing within the Lightning Network. By expanding routing possibilities, enhancing privacy, and supporting decentralization initiatives, routing hints contribute to a more robust and efficient Lightning Network ecosystem.

Sources: - [0]: Enhancing Payment Success Rates - [1]: Understanding Lightning Network Routing - [2]: Exploring Channel Graph Dynamics - [3]: Ensuring Security and Privacy - [4]: Navigating Through Unannounced Channels - [5]: Optimizing Routing Efficiency - [6]: Advancing Transaction Privacy - [7]: Strategies for Routing HTLCs