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0 sats \ 0 replies \ @Scoresby OP 1m \ parent \ on: What the heck is Spark? lightning
Well, this was one of my questions though: if WoS was open source (assuming it is not), would it change the calculus?
I don't mean to start this conversation up again (quite yet), but I've been thinking about it for a few days and I wanted to say that I did find this reply helpful. Particularly this part:
To me, the central difference between supply and demand is that supply is how much we value things in our possession already and is thereby constrained by our inventory, whereas demand is how much we value stuff other people have and is constrained by our purchasing power.
I'm going to see if I can't do a little Rothbard reading (it's a pleasure anyway) and try on my own to follow it. Thanks for pointing the way.
How much would you pay the people who design your wallet if you custodied $52 billion worth of bitcoin?
It probably depends on how you prefer to stack sats. Not many places you can buy bitcoin support Spark. But a good number support lightning and this can be a good way to gain a bit of privacy from your source of sats. So perhaps in the future Spark serves a similar role.
But I think you are right that it's most useful at the moment for payments with a low barrier to entry.
- I don't know what kind of users are the kind we want to have
- SN works for topics where there is a lot of stacker interest (bitcoin, nostr, ai, privacy, books, sports, etc). For topics with smaller stacker followings, SN is more difficult.
- SN definitely has high quality content that could attract nocoiners...but it doesn't always (or even often) make it outside SN
- Value prop is definitely proved.
- SN works without the rewards subsidy.
- I think most bitcoin-only, self custodial products are struggling right now. For starters, look at mempools...
For a fictional meditation on this see: https://scp-wiki.wikidot.com/antimemetics-division-hub
Finally, Flensburg actually was the capital of Germany in reality (for about the last three weeks of the Third Reich).
While they make a number of good points, I'm not sure I agree that air gapping is as unhelpful as they say.
The hard point BitBox points out is that you are always relying on a potentially compromised device to assist with psbt creation, or transaction broadcasting, or even just knowing what coins you have.
The risk is not so much in storing your keys as it is in using them to sign. This is one reason why the language of "hardware signers" is better than the language of "hardware wallets".
"Time to go full self custody" doesn't really fix the problem of selling or acquiring bitcoin. Would have loved a decision that put up even a little friction between exchange records and the IRS.
Despite the general friendliness that has been touted, I fully expect gov'ts to continue to lock-down on and off ramps to Bitcoin in the coming years. The whole purpose of the coin is to resist state censorship. It doesn't have much purpose beyond that.
Thanks for pointing this one out! There are so many darn resources out there!
It reminds me that I had screenshotted this from the Spark docs page: unilateral exit is not live during beta.