Bitcoin needs better wallets. Do you know what an ABW is? \ stacker news ~bitcoin

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Bitcoin needs better wallets. Do you know what an ABW is?

464 sats \ 21 comments \ @realBitcoinDog 8 Oct bitcoin

I just got caught up on @k00b’s #523435

His most impactful statement: I believe that for bitcoin to succeed it must have many, varied, and great wallet solutions.

This is true! Reflecting on my own ~Bitcoin story, it wasn’t until I had a ledger (ha! What little did I know!) that I finally felt safe to buy my first Bitcoin. I knew NYKNYC but I didn’t want be that guy with a hard drive that ended up in a landfill. Seed phrases changed everything!

Here’s the key paragraph: “The goal here is for SN to be easy to use, private, and beyond reproach. We need bitcoin for SN to be what we intend it to be, but we don't want the moral and legal liability of holding and transferring bitcoin IOUs or KYCing and geofencing people. For bitcoin to fundamentally change internet applications, I believe the applications themselves must be not-custodians. Forgetting internet applications, I believe that for bitcoin to succeed it must have many, varied, and great wallet solutions. Wallets will only get better through us using and supporting them.”

Sounds like next step is ABW’s! Popular API-friendly account based Attachable Bitcoin Wallets. But they need an app for mobile. NOSTR had no traction until Damus and Primal came around. No, I cannot just use a chrome extension everything time I want to post on SN!

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120 sats \ 19 replies \ @DarthCoin 8 Oct

And be aware of my warning in the same post: #523570 Very few stackers really understand my warning, maybe those that knows how to run properly a LN node.

20 sats \ 18 replies \ @realBitcoinDog OP 8 Oct

Well you’re saying once SN is no longer custodial you’ll actually STOP using it since you’ll lose your anonymity without running a lightning node yourself?

And of course asking users to run their own lightning node is a bridge too far, which I agree.

But can’t you still be anon with an ABW?

110 sats \ 17 replies \ @DarthCoin 8 Oct

But can’t you still be anon with an ABW?

Yes you can, if you know what are you doing. As I explained in many of my guides. Unfortunately very few stackers here know what they are doing... some of them don't even have other real LN wallets/nodes out of SN account.

20 sats \ 16 replies \ @realBitcoinDog OP 8 Oct

If they don’t even have another real LN wallet or node, we might as well just be using “fee credits” already!

21 sats \ 13 replies \ @DarthCoin 8 Oct

cowboy credits are just fine to be used on SN. Not everything must be self-custodial. In a certain limits it is just fine to use some "fake sats" without any friction.

In the end, here on SN we are just circle jerking each others zapping back and forth as a social credit score. No more no less. This doesn't have to be done with real sats. We are not exchanging goods and services. That is totally another story.

As I said many times: spend your sats wisely! But seems that people here still do not get my words. For upvoting posts on SN is enough 1 sat (cowboy credit). If you want to give real sats to the OP, it should be a separate thing, where I can send real sats (as much as I like) from my own LN wallet or with cowboy sats.

62 sats \ 7 replies \ @realBitcoinDog OP 8 Oct

So I mean are you saying the SN algo is such that it’s an equivalent boost whether I zap 1 sat or 1000 sats? The amount doesn’t make a difference for something to be “hot?”

@TheWildHustle posted a song he made through the Crimson service. Was it better to zap him 100 sats directly through Crimson than through SN?

@grayruby has a goal to try to spend more sats than he stacks. Is that just a misguided goal to keep the ~Stacker_Sports circle jerk going? I guess the service he’s buying is a community he’s fostered in his territory?

Heck, even @k00b is artificially boosting SN engagement with 100,000 sats pumped into the rewards pool daily. It serves a purpose, right? It’s not for nothing?

100 sats \ 1 reply \ @grayruby 8 Oct

My goal is to spend around the same as I stack. Sometimes I stack more, sometimes I spend more. I do try to cover my Stacker Sports monthly fee with rewards though but my day to day zapping I don't really care if I earn or spend more sats. SN is great but if I was optimizing for maximum sats I wouldn't spend hours a day on SN I would go out and earn as much money as I could either in Bitcoin or fiat and then convert it to Bitcoin.

I see SN as a great community and experience so ultimately my goal is two fold. Enjoy engaging with a community I like and to help spread the word about SN being a better experience than other message boards/social media and by association hopefully get more people using bitcoin for v4v.

Anyways, that's my story and I am sticking too it.

40 sats \ 0 replies \ @realBitcoinDog OP 8 Oct

100 sats to you sir!

That’s a nice balance. Pocket the rewards, but zap back each zap you receive to keep the community engagement thriving. It’s what you love! I’m loving it too. Thank you!

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1 sat \ 4 replies \ @DarthCoin 8 Oct

boosting is something else. upvoting with 1 sat or 1000 is the same in terms of reputation and "hot". The amount of sats you zap is just your personal appreciation to the OP.

10 sats \ 3 replies \ @realBitcoinDog OP 8 Oct

Ah I see. So the 100 sat default for new users is 100x higher than it needs to be! 😅

And what is the point of or incentive of boosting? Why is it such a high minimum of 10000 sats?

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0 sats \ 4 replies \ @028559d218 8 Oct

After I get a few thousand sats on SN... I always withdraw most of them to my own lightning node/channel. Those are 'real' sats.

0 sats \ 3 replies \ @realBitcoinDog OP 8 Oct

Looks like you’ve stacked an impressive 40,000 sats! Do you think withdrawing most of them has helped or hurt your Sat stacking?

1 sat \ 2 replies \ @028559d218 8 Oct

I zap them very generously here on Stacker-News. I withdraw some, save some, and spend some (a little). At some point Bitcoin needs a circular economy around Lightning.

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0 sats \ 1 reply \ @028559d218 8 Oct

I agree. In my humble opinion for "real Bitcoiners" there is no excuse at this point to not be running a full, real lightning node. It is not hard

2 sats \ 0 replies \ @DarthCoin 8 Oct

0 sats \ 0 replies \ @ded8dc5389 8 Oct freebie

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