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291 sats \ 6 replies \ @justin_shocknet OP 13h \ parent \ on: Follow-Up on CashApp Issues bitcoin
Bolt12, seems not, as I predicted onion messages are retarded for payments because they're inherently unreliable and it hasn't gotten traction... but also as I predicted it'll be used primarily for shitcoining and that's just getting started with TapAss and fake Layer2's that "use lightning as glue". CLINK is defending Lightning purism.
They're pushing shitforks for centralized services and even Pro-Licensed Money Transmitter legislation now to protect Block from self-custodial wallets, that's just getting started so TBD... Their communist-left tactics are very effective at turning virtue signaling morons into useful idiots so these will be tough battles.
They were pushing Fedimints (and maybe ecash?), not sure the state... I think we were successfull in fighting the federation psyop, other than the network effect of Liquid
I'm not in the weeds at all with mining stuff so can't speak to their ops there, but their smugness bullshit seems to do a good job of pissing people off with that as well
IIRC they once had a comprehensive list of the dog shit they funded but now all I can find is scattershot blog updates... I'm sure if there's a list somewhere it'd be 80% commie astroturf.
Okay. I personally don't really care about people's ideology, it's not offensive to me if someone is a commie (though I doubt they are, "real" commies will probably call the same people libertarian scum), I just disagree with some of the rationales and that's that.
Re: the legislation. Yeah I don't agree with you on that part, simply because I think that this will help some devs relax a bit about US travel. I know more than a few foreign devs that have been skipping US events simply because they were nervous since the 2022 Infra bill made the broker rule selectively enforceable against any open source bitcoin dev, and Border Control is a chokepoint that's always risky. So if people want to fix that, then fine with me. It's not the ideal situation because ideally bitcoin itself is agnostic to law - I agree with you on that - but if it helps some people, then great.
Since we don't have to use BOLT-12 (unless you want an Ocean payout over LN, I don't know of any other place where it's mandatory) it's just an option. Having competing protocols is a plus, I'd say.
I have
CLINK bookmarked to study since you shared the link (last week iirc). I've been looking into enriching Blixt with NWC (because I like that wallet and I want to use it more, but not with some semi-custodial LN address), but let me take some more time and wait with any implementation while I check if it makes sense for me to implement CLINK instead or as an additional feature.I think that studying fedimints/cashu is okay, because if we don't study, we can't tell. I've been using cashu as my SN-connected wallet for three months as a test and depending on the mint it's semi-reliable, but that central mint problem is hanging over its head like a guillotine on a thread. It's usable but not great. I've experienced the mint having LN bridge liquidity issues twice, which sucked.
On the miner side, there are plenty of reasons (spoken and unspoken) why pools don't implement sv2, many of them lame. It would be good if some of the mid-size pools at least tried. Or maybe DMND can showcase some success here to get momentum. SV2 is not a bad thing, imho, it's just not popular.
Bottom line, bitcoin is for enemies, so it's working as intended, I think.
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people's ideology
It's not about ideology, it's tactics... an actual communist living off the land in a commune is someone I'd probably have more in common with than most, it's the centuries old dialectic and subversion
it helps some people
This helps money transmitters wage lawfare against smaller companies, even if they're non-custodial, by dragging them through civil courts nitpicking their infra.
If the US wants to detain a foreigner it'll be because they're suspected foreign agents... not a small time dev with a self-custodial wallet.
Their outright lying about "regulation against self-custodial wallets" that doesn't exist says it all.
semi-custodial LN address
I think you'll really like CLINK then... CLINK based LN addresses are the only non-custodial "hosted" LN address, because the web-server can't intercept the comms because it uses Nostr sign-encrypt.
Beyond offers/addresses CLINK has a debit spec which has some overlap with NWC (because NWC copied our Pub API architecture), but bigger picture utility.
studying fedimints/cashu is okay
No argument there, just pointing out that an NGO for a MSB is funding more centralized neo-bank tech under the guise of Bitcoining. My issue is the false narratives, there's no such thing as federated custody of Bitcoin, and ECash is not a privacy tool.
bitcoin is for enemies, so it's working as intended
Amen to that.
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I personally am not a cashapp fan either, because to me it's a fiat tool that leans into bitcoin more for the narrative than providing the actual freedom it could enable. But of course they'll cite regulatory stuff coming from the fiat integrations as an excuse.
Most people that I asked to check it out found so many (perceived) barriers thrown at them that they were like nah, and I just onboarded those on non-custodial apps instead. Instructed them to just DCA into sats through their newly discovered "uncle Jim" because I don't care for fees other than cost for my friends. Missed oppty for cashapp though; I hear River does better on the letting people DCA into some sats front.
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I really liked CashApp once upon a time, and referred many people to it when they asked where they should buy Bitcoin from. It was the only solution they could just pipe a debit card into and buy Bitcoin with relative ease. Sure, KYC sucks, but it is. There's was less hassle than everywhere else.
It was a great fiat off-ramp, but maybe that was partly a long-con since it turned into a roach motel for coin.