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@ fd208ee8:0fd927c1
2025-02-15 07:37:01
E-cash are coupons or tokens for Bitcoin, or Bitcoin debt notes that the mint issues. The e-cash states, essentially, "IoU 2900 sats".
They're redeemable for Bitcoin on Lightning (hard money), and therefore can be used as cash (softer money), so long as the mint has a good reputation. That means that they're less fungible than Lightning because the e-cash from one mint can be more or less valuable than the e-cash from another. If a mint is buggy, offline, or disappears, then the e-cash is unreedemable.
It also means that e-cash is more anonymous than Lightning, and that the sender and receiver's wallets don't need to be online, to transact. Nutzaps now add the possibility of parking transactions one level farther out, on a relay. The same relays that cannot keep npub profiles and follow lists consistent will now do monetary transactions.
What we then have is
* a **transaction on a relay** that triggers
* a **transaction on a mint** that triggers
* a **transaction on Lightning** that triggers
* a **transaction on Bitcoin**.
Which means that every relay that stores the nuts is part of a wildcat banking system. Which is fine, but relay operators should consider whether they wish to carry the associated risks and liabilities. They should also be aware that they should implement the appropriate features in their relay, such as expiration tags (nuts rot after 2 weeks), and to make sure that only expired nuts are deleted.
There will be plenty of specialized relays for this, so don't feel pressured to join in, and research the topic carefully, for yourself.
https://github.com/nostr-protocol/nips/blob/master/60.md
https://github.com/nostr-protocol/nips/blob/master/61.md
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@ a012dc82:6458a70d
2025-02-15 02:53:03
In the ever-evolving landscape of finance, two names have consistently dominated the conversation in recent years: Bitcoin and Ethereum. These cryptocurrencies have not only revolutionized the way we think about money but have also paved the way for a future where digital assets play a central role. As we stand at the cusp of a new era in finance, it's crucial to understand the significance of these two giants in the crypto world. This article takes a deep dive into Bitcoin and Ethereum, exploring their origins, their impact on the financial sector, and what the future might hold for these digital currencies.
**Table of Contents**
- Bitcoin: The Pioneer of Cryptocurrency
- Ethereum: More Than Just a Cryptocurrency
- The Impact on the Financial Sector
- The Future Outlook
- Conclusion
- FAQs
**Bitcoin: The Pioneer of Cryptocurrency**
Bitcoin, created by the mysterious figure or group known as Satoshi Nakamoto, emerged in 2009 as the first decentralized digital currency. It introduced the world to the concept of a blockchain, a distributed ledger technology that ensures security and transparency in transactions. Over the years, Bitcoin has become synonymous with cryptocurrency, often being the first token that comes to mind when discussing digital assets. Its primary appeal lies in its decentralized nature, free from the control of any government or financial institution, offering a form of financial freedom and privacy that traditional currencies cannot.
However, Bitcoin is not without its challenges. Its scalability issues, high transaction fees, and extensive energy consumption due to mining activities have been points of contention. Despite these challenges, Bitcoin has maintained its position as the leading cryptocurrency, often referred to as digital gold, and continues to attract significant investment from both retail and institutional investors.
**Ethereum: More Than Just a Cryptocurrency**
Ethereum, proposed in late 2013 by programmer Vitalik Buterin, is often considered the second most important cryptocurrency after Bitcoin. However, Ethereum offers much more than just a digital currency; it's a platform for decentralized applications (dApps). The introduction of smart contracts on Ethereum's blockchain has opened up possibilities far beyond simple monetary transactions. These self-executing contracts with the terms of the agreement directly written into code have enabled the development of a wide range of applications, from decentralized finance (DeFi) to non-fungible tokens (NFTs).
Ethereum's flexibility and adaptability have made it a cornerstone of the blockchain development community. However, like Bitcoin, it faces its own set of challenges, including network congestion and high gas fees, especially during peak usage times. The much-anticipated upgrade to Ethereum 2.0 aims to address these issues by shifting from a proof-of-work to a proof-of-stake consensus mechanism, which is expected to significantly increase its scalability and reduce its environmental impact.
**The Impact on the Financial Sector**
The advent of Bitcoin and Ethereum has had a profound impact on the financial sector. They have challenged traditional financial models and institutions, introducing concepts like decentralized finance, which aims to create a more open and accessible financial system. Cryptocurrencies have also introduced new investment opportunities, with Bitcoin becoming a popular choice for investors looking for an asset that is not correlated with traditional financial markets.
Moreover, the technologies behind these cryptocurrencies, especially blockchain, have found applications in various sectors, including banking, supply chain management, and voting systems. The transparency, security, and efficiency offered by blockchain technology have the potential to revolutionize these industries.
**The Future Outlook**
Looking ahead, the future of Bitcoin, Ethereum, and cryptocurrencies, in general, is both exciting and uncertain. Regulatory challenges, technological advancements, and market dynamics will play significant roles in shaping their paths. Bitcoin, with its limited supply and increasing adoption, might continue to be seen as a store of value, while Ethereum's transition to Ethereum 2.0 could solidify its position as the leading platform for decentralized applications.
The increasing interest from institutional investors and the integration of cryptocurrency services by major financial players suggest a growing acceptance and maturation of these digital assets. However, the volatile nature of cryptocurrencies remains a significant factor, making them a risky, albeit potentially rewarding, investment.
**Conclusion**
Bitcoin and Ethereum have undeniably paved the way for a new era in finance, one that is digital, decentralized, and diverse. Their impact extends beyond just the financial sector, influencing technology, governance, and society as a whole. As we move forward, the continuous evolution of these cryptocurrencies and their underlying technologies will undoubtedly play a pivotal role in shaping the future of finance. Whether they will become mainstream elements of our financial system or remain as alternative assets, one thing is certain: Bitcoin and Ethereum have forever changed the landscape of finance, and their journey is far from over.
**FAQs**
**How does Ethereum differ from Bitcoin?**
While Bitcoin was created primarily as a digital currency, Ethereum is a decentralized platform that enables smart contracts and decentralized applications (dApps). Ethereum's native token, Ether, is used to facilitate these operations.
**What are the main uses of Bitcoin and Ethereum?**
Bitcoin is mainly used as a digital currency and a store of value, often referred to as 'digital gold.' Ethereum, on the other hand, is used to power smart contracts and dApps, playing a crucial role in the decentralized finance (DeFi) and non-fungible token (NFT) sectors.
**What are the challenges facing Bitcoin and Ethereum?**
Bitcoin faces challenges like scalability, high transaction fees, and environmental concerns due to its mining process. Ethereum struggles with network congestion and high gas fees, although its upcoming upgrade to Ethereum 2.0 aims to address these issues.
**Are Bitcoin and Ethereum regulated?**
The regulatory status of Bitcoin and Ethereum varies by country. While some countries have embraced them with specific regulations, others have imposed restrictions or outright bans.
**That's all for today**
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@ 0fa80bd3:ea7325de
2025-02-14 23:24:37
#intro
The Russian state made me a Bitcoiner. In 1991, it devalued my grandmother's hard-earned savings. She worked tirelessly in the kitchen of a dining car on the Moscow–Warsaw route. Everything she had saved for my sister and me to attend university vanished overnight. This story is similar to what many experienced, including Wences Casares. The pain and injustice of that time became my first lessons about the fragility of systems and the value of genuine, incorruptible assets, forever changing my perception of money and my trust in government promises.
In 2014, I was living in Moscow, running a trading business, and frequently traveling to China. One day, I learned about the Cypriot banking crisis and the possibility of moving money through some strange thing called Bitcoin. At the time, I didn’t give it much thought. Returning to the idea six months later, as a business-oriented geek, I eagerly began studying the topic and soon dove into it seriously.
I spent half a year reading articles on a local online journal, BitNovosti, actively participating in discussions, and eventually joined the editorial team as a translator. That’s how I learned about whitepapers, decentralization, mining, cryptographic keys, and colored coins. About Satoshi Nakamoto, Silk Road, Mt. Gox, and BitcoinTalk. Over time, I befriended the journal’s owner and, leveraging my management experience, later became an editor. I was drawn to the crypto-anarchist stance and commitment to decentralization principles. We wrote about the economic, historical, and social preconditions for Bitcoin’s emergence, and it was during this time that I fully embraced the idea.
It got to the point where I sold my apartment and, during the market's downturn, bought 50 bitcoins, just after the peak price of $1,200 per coin. That marked the beginning of my first crypto winter. As an editor, I organized workflows, managed translators, developed a YouTube channel, and attended conferences in Russia and Ukraine. That’s how I learned about Wences Casares and even wrote a piece about him. I also met Mikhail Chobanyan (Ukrainian exchange Kuna), Alexander Ivanov (Waves project), Konstantin Lomashuk (Lido project), and, of course, Vitalik Buterin. It was a time of complete immersion, 24/7, and boundless hope.
After moving to the United States, I expected the industry to grow rapidly, attended events, but the introduction of BitLicense froze the industry for eight years. By 2017, it became clear that the industry was shifting toward gambling and creating tokens for the sake of tokens. I dismissed this idea as unsustainable. Then came a new crypto spring with the hype around beautiful NFTs – CryptoPunks and apes.
I made another attempt – we worked on a series called Digital Nomad Country Club, aimed at creating a global project. The proceeds from selling images were intended to fund the development of business tools for people worldwide. However, internal disagreements within the team prevented us from completing the project.
With Trump’s arrival in 2025, hope was reignited. I decided that it was time to create a project that society desperately needed. As someone passionate about history, I understood that destroying what exists was not the solution, but leaving everything as it was also felt unacceptable. You can’t destroy the system, as the fiery crypto-anarchist voices claimed.
With an analytical mindset (IQ 130) and a deep understanding of the freest societies, I realized what was missing—not only in Russia or the United States but globally—a Bitcoin-native system for tracking debts and financial interactions. This could return control of money to ordinary people and create horizontal connections parallel to state systems. My goal was to create, if not a Bitcoin killer app, then at least to lay its foundation.
At the inauguration event in New York, I rediscovered the Nostr project. I realized it was not only technologically simple and already quite popular but also perfectly aligned with my vision. For the past month and a half, using insights and experience gained since 2014, I’ve been working full-time on this project.