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100 sats \ 0 replies \ @justin_shocknet 13h \ parent \ on: lowering minimum relay feerate may be bad for compact block relay - 0xB10C bitcoin
That's the key if, and that's what is now changing.
When you try to calculate how many people can "own" bitcoin it increases when you change your assumptions from 1sat/vb to .1sat/vb
Increasing users = scaling
Many such cases, if you can afford 1sat a byte you're more sovereign than someone that can only afford .1, same is true for 10sat vs. 1sat.
We have no idea what the market will settle on for fees in another 15 years, entirely possible that requires 1000sats/vb to get a tx confirmed.
Yep, whether its dust in the literal sense or practical sense, the supply of <2.1q divided by that amount is the scaling limit in terms of ownership.
When I say it's the final scaling frontier that means its literally the last thing possible from a technical perspective because the supply isn't going to change and distribution/fee rate is a purely market function.
Funny how this sub-sat stuff came about after I started getting vocal about the fake scaling solutions didn't address the cost of unilateral transactions that define ownership (and that only a supply increase or sub-sat fees could scale it)
Threw a grenade in the PR: https://github.com/bitcoin/bitcoin/pull/33106#issuecomment-3156258686
which means the new blocks propagate more slowly across the network.
Which in turn trends towards miner centralization, given the greater head start to the miner of the last block. This is one of the heaviest arguments against actually bigger blocks.
What I find most interesting is that this is quietly the final scaling frontier. Since throughput is already unlimited, and ownership is a result of fee-relative supply divided by distribution, lots of scale scammers are going to cope hard because lower chain fees drastically shrinks the market for their their centralized shadowchains.
Old laptops off ebay are optimal, particularly for lightning nodes as the built-in battery will eventually save you from a corrupt channel state. Never having to connect peripherals is a bonus.
Just make sure it's got an SSD, or upgrade the drive yourself. Recommend 8GB ram minimum.
Then wipe it with a fresh Linux install.
trivial way to self-host (on start9/umbrel) e-commerce stores: #920555
This is one of the end-goals of Lightning.Pub, and why we put Nostr-based "offers" (and webhook triggers for them) on the node side.
The problem with self-hosted stuff like Start9/Umbrel is that providing SSL/Clearnet access for the normal consumer requires a somewhat complex network config, particularly when on a residential connection.
This means the store-front side is probably best living on a traditional commodity web-host externally, while the business logic (lightning node) remains self-hosted.
Nostr solves the networking problem by just pasting an nprofile into the store front, Lightning.Pub then solves the callback-on-payment-confirmation to the ecommerce fulfillment flow.
Too much to do... we're happy to hold anyones hand that wants to take a shot at an ecommerce interface backed by a Lightning.Pub
It's pretty incoherent honestly... follow up comment implies you're attempting a recovery? Then you absolutely should be using a real system and the CLI
Run LND on a cheap VPS or old laptop
Install Lightning.Pub next to it to provide Nostr connectivity
Paste the nprofile into ShockWallet to connect on the go even while on shitty networks
That recommendation seems excessive, I live 3+ hours from the airport which means I have to leave a lot of time for incidentals en route, and never get there THAT early... 2H tops for domestic, if I lived 15 minutes from the airport I'd probably get there 1:15 early.
Security is rarely more than 20-30 mins without pre-check, 10 with.
With border and homeland security finally in patriot control, I expect airport security spending will relocate a bit, that will move the next bottleneck to Air Traffic Control...
... coincidentally I started re-watching Ground Control yesterday with my kids after letting my oldest play a few minutes of Airport Madness and him getting hooked.
The first few minutes of that movie play out exactly what they disclosed in Newark earlier this year, systems going down while IT duct-taped cables back together. The entire premise of the movie is based on their being critically short-staffed.
That movie is from 1993.
That Newark conversation coordinated with the regime change does lead me to think the pendulum is swinging back, and we're on the precipice of another 50's-like building period we're still living off of today.
I don't think the economics of airports becoming malls get in the way of this, rich people aren't going to big airports any more... thats a lot of lost revenue because people are paying to fly out of small airports on private charter. Also there is demand destruction to be reversed, there's still plenty of incentive to make air travel more efficient.
Would a low-end VPS for LND suit your purposes?
ShockWallet communicates to Lightning.Pub over nostr events and is therefore uniquely performant in poor network settings... no POS in it yet but we'd be happy to expedite that
Lightning.Pub is better but I'm biased
Single line install, uses lnd and neutrino, no networking required since you can connect wallets/apps over nostr... Supports nostr based static offers and webhooks for merchant software
Might watch the former tonight, haven't seen it
But yes, outlook is everything... The fact that the world is a stage isn't necessarily good or bad, it's what you do with the knowledge
He's been groomed, and thus the public has been groomed, for this for decades. Associated with campaigning (as a libertarian) in the 80's, was close to JFK Jr. against Killary in 99 before they killed him, then started attacking in the 2010s... The Apprentice imaging, tough executive at the head of the table, was deliberate.
Future President's have already been selected for grooming, some you might not see run for another decade or more.... Tom Brady, The Rock... all "branding"
Reagan was branding...
Revisions so wildly off has been the case for awhile, disclosure op, reveals the data has always been a fugaz
I bet its a lot of screensaver minutes, I think quite literally the only kids show I can tolerate even as background noise
two different processes
Since you are the SPOF in both of them you're not solving anything by having two, better to go all-in on a process that is bulletproof. If you have two processes they're compromising with one another.
Not to say you shouldn't have tiers as @DarthCoin rightly suggests, like cold, cache, and hot. I'm referring to the most important tier, your BIP39 tier example I would rationalize as cache and that's perfectly reasonable.
20% of people who hold coins or 20% of coins
People (that should self-custody)
Political security is just as important to Bitcoin as the technical, even if Bitcoiners hate to admit it. Security is layered, and the technical layer is an enforcement arm of the political layer, but only if the technical layer is sufficiently distributed.
Political security is the only thing that prevents Google, Blackrock, Microsoft, Apple, the NSA, GCHQ, and god knows what other entities from stealing millions of coins... they have no purely technical blockers and having the majority of supply doesn't immunize them from the political fallout (and the technical resistance that could be brought with it.)
how do you design a solution for the most stupid person imaginable?
I think that's a fools errand, and that believing you can do so is hubris. Udi is right on this one, the best solution for 80% of people is either an ETF, Collaborative, equity in sats-flow, or a Family Office setup.
Everything I do with Lightning.Pub is part of a Family Office / Small Org vision of the future that keeps trust distributed to the edge and sats-flow as the gateway drug to that distribution.
Better tooling can get us from the 1-3% we should be at today to the ~20% I estimate is the (realistic) goal.
Even with better tooling custodians are going to be a major part of Bitcoin forever, the goal of such tooling shouldn't be to eliminate them but to keep them in a Mexican standoff by expanding the array of options people have.
This isn't about trusting your partner then, this is about you trusting youself to be a better judge of character than your friends.
Or maybe you know they're ultimately at fault for their behavior in the relationship, and you're not confident that your less of a loser than they are.
Either way, it's an inward problem.
splitting your stack across multiple cold storage wallets can be a hedge against failure in any one of them
Who's saying this? That's retarded... you and your process are the single point of failure in self-custody.
Your HWW and its dodgy software are probably a single-point of failure, but if you're going to play with those gimmicky toys you should only do so in a multi-vendor set up.
scam someone into emptying their IRA.
Underrated feature of an IRA is that its harder for YOU to get it out. Most people don't lose life changing stacks to scammers or banking crisis, but their own stupidity.
countering the risk of losing your retirement savings when there's a banking crisis?
Not at all. Complete misread of what Bitcoin is.
First, when is the last time someone lost it all in a Banking Crisis? A few highly leveraged funds in bed with specific institutions in the last 100 years? No one alive has seen first hand a systemic collapse. Even those events largely only took out people without real assets, fiat is just a number you put on them.
People generally get rugged by loss of purchasing power over time, not bankruptcy. Bitcoin hedges that equally whether it's in an ETF or in Cold storage... actually no... ETF is MUCH better at this given tax advantages and lower spreads.
Second, fiat is why such crises happen in the first place. Bitcoin's portability, verifiability, supply immutability is about stopping crisis before it can start. It's free-banking, not post-banking.
Freedom from financial censorship is the biggest reason to self-custody, but for most people that's not nearly as big of a risk as fucking up self-custody.
80-20 hedge
The real 80-20 hedge (Pareto distribution) is who can keep Bitcoin honest by engaging in self-custody and running economic validating nodes. That is AT MOST 20% of people.
And we're a long way from getting to that 20% because self-custody tools are ABYSMAL still. The fact that seed phrases are the standard, with morons stamping them on metal, losing written paper, screenshots, getting fished... is an absolute joke.
If your net worth is tied to BIP39 then you shouldn't be self-custodying. With current tooling maybe 3% of people tops should self-custody.
This, marriage is the anti-hedge affirmation.
If you need a parachute just stay unmarried and vow nothing.
Haven't felt Claude is worth paying for to try it, I have used the Gemini clone but it's not what I'm looking for in a terminal, I want something that runs from bash with terminal context
Cursor with Gemini 2.5
Started tinkering with Jules on a few things (free)
I also pay for gpt for fast response, 4o, and occasional planning / research (3).
Claude free tier for copy editing.
Haven't found a terminal tool I like as a shell first user, would probably pipe that into Qwen via Groq (free tier).
Also building a thing that uses Qwen via Groq free tier.