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0 sats \ 13 replies \ @k00b OP 16 Jan 2024 \ parent \ on: @k00b's bio bitcoin
You mean, why don't we accept arbitrary ERC-20 tokens? Mostly because SN prefers bitcoin as an MoE, UoA, and SoV, so we'd have to exchange your tokens for bitcoin on our end and assume exchange rate risk. Hopefully more exchanges will support lightning going forward and ERC-20 people will have an easier time onboarding to lightning apps.
Excellent! If you've been in the ecosystem a long time, and you've avoided using bitcoin somehow, it's probably worth getting acquainted. It's a whole other world and the world us stackers prefer.
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What do your wallet logs say?
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@k00b Could you please check it again?
I now have enough sats to post, but there is an error. Take a look at the log:
[blink] error payment failed: Failed to fetch -
bolt11 lnbc1230n1p5y5kqupp5ne3cgdfzc3e7p7lt3f0y57zjv8lly5upvskc32l9kj57xs2ezmqqdqc2d8r5grrwfjkzar9yp5hgetdcqzysxqzjcsp5es62x0a2vvpzxm5yp9dq8ezve63f8vmaw5aty2neltu9f3qnn07q9p4gqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqpqysgqxh6qv5edjcsfd6x90nhqe2dmh5qq8yar6zs5kzf8tn4ce3qxpscssxpsspduuqmwpqdtd5jlgjfhawv870t3v8x2mcjwm7khv99sj0sp70xvyn
amount 123,000 msats
payment_hash 9e63843522c473e0fbeb8a5e4a785261fff25381642d88abe5b4a9e3415916c0
description SN: create item
created_at 2025-06-12T04:31:24.000Z
expires_at 2025-06-12T04:41:24.000Z
1m [blink] error payment failed: failed to pay invoice INSUFFICIENT_BALANCE Payment amount '133' sats exceeds balance '109' -
bolt11 lnbc1230n1p5ytpd7pp5xlk9srmwpgngs82u7qq823rg706cv2zfgd7l8ayuggnq8p6nwmesdqc2d8r5grrwfjkzar9yp5hgetdcqzysxqzjcsp5g0n8q57v2na5ueyascg2vq50qquv8mk472x32srew4mhnqu09pnq9p4gqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqpqysgqh7rmxfysevzeleprxknq56rg3hxwmqsg0wqv4ey6rxt27472mjhqdx7ts9vr6hr78husvhnnh7kvv0k3xqcag2g676fs0qklc2jrt2spy84n87
amount 123,000 msats
payment_hash 37ec580f6e0a26881d5cf000754468f3f5862849437df3f49c422603875376f3
description SN: create item
created_at 2025-06-08T12:44:46.000Z
expires_at 2025-06-08T12:54:46.000Z
1m [blink] info ↗ sending payment: 123 sats -
bolt11 lnbc1230n1p5ytpd7pp5xlk9srmwpgngs82u7qq823rg706cv2zfgd7l8ayuggnq8p6nwmesdqc2d8r5grrwfjkzar9yp5hgetdcqzysxqzjcsp5g0n8q57v2na5ueyascg2vq50qquv8mk472x32srew4mhnqu09pnq9p4gqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqpqysgqh7rmxfysevzeleprxknq56rg3hxwmqsg0wqv4ey6rxt27472mjhqdx7ts9vr6hr78husvhnnh7kvv0k3xqcag2g676fs0qklc2jrt2spy84n87
amount 123,000 msats
payment_hash 37ec580f6e0a26881d5cf000754468f3f5862849437df3f49c422603875376f3
description SN: create item
created_at 2025-06-08T12:44:46.000Z
expires_at 2025-06-08T12:54:46.000Z
1m [blink] error payment failed: failed to pay invoice INSUFFICIENT_BALANCE Payment amount '133' sats exceeds balance '109' -
bolt11 lnbc1230n1p5ytpdnpp5mvnvlqtkqzyn37tya60rrul648t8zwwtduzez3592v4nc8ys6xgsdqc2d8r5grrwfjkzar9yp5hgetdcqzysxqzjcsp5lycscpmr9vsvqpu5szgqkkljemx46ek9m0vqqds776dk7uks704s9p4gqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqpqysgqy0nh4csjmnm96l8nh333g43kxw2tsdqqf48yrurs6jc6qsxedv5s350447j4l3vhp5j98z0a04pa08lzjrfmv0dgxx2c3y47aq74q2spg28kyl
amount 123,000 msats
payment_hash db26cf8176008938f964ee9e31f3faa9d67139cb6f05914685532b3c1c90d191
description SN: create item
created_at 2025-06-08T12:44:35.000Z
expires_at 2025-06-08T12:54:35.000Z
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I don't want to distract you, but if you have a minute, write your answer to the question: Don't the ERC-20 tokens, the same ETHer, perform the same functions you specified and are more common (user friendly, as for me)? I am sure that the choice of bitcoin was not accidental on your part. Thank you!
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Don't the ERC-20 tokens, the same ETHer, perform the same functions you specified and are more common?
They do not provide those functions sufficiently for SN to depend on them. Hypothetically, we can use pots and pans as money but I wouldn't. We choose to use the best money available as a matter of taste and we expect others would prefer to do the same regardless of the other assets they are speculating on at any given moment (whether that's Apple stock or Solana tokens).
are more common?
They are certainly more plentiful, and unpredictably so, if that's what you mean.
The bottom line is really that we aren't an exchange and we aren't a broker. We are a social economy and efficient economies have a preferred money and ours is bitcoin.
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Great answer, thank you 🙏
Of course I still have a lot of questions, but somehow I'll figure it out on my own,
have a nice day Keyan!
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