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Yuletide greetings, stackers! A good fortune in the turning year! May the sats flow to ye whom treats them best!
In my opinion, multisig is primarily for protocol developers to build things like Lightning Network, side-chains, and for custodians who want distributed signing schemes.
Single signature is fine for individuals (especially beginners). You can achieve multisig-like properties using Shamir's secret sharing, or any number of techniques to split-combine (or even obfuscate) private key material.
At the end of the day, you just need to secure some private data to secure your sats. Multisig just means you have more material to keep secure (more keys, plus wallet descriptors).
But it's great you're learning multisig hands-on!
when the cold phones need an app update, how do you safely update the Electrum app without connecting them to the internet?
Android phones let you side-load APK. You can download and verify the new Electrum APK (or build from source) and load it onto the cold phones via USB drive.
Likewise, with Android OS updates, you can apply these from a linux computer over USB cable adb sideload. Assuming you're able to download the AndroidOS update files onto the linux computer.
For everyone suggesting plants, you would need several industrial vats of algae just to support one person's oxygen needs: https://www.youtube.com/watch?v=AAbyUaLN2QA
A more accurate implementation would use the ZMQ to subscribe and get an event exactly when the new block is added. Polling getblockcount is still using normie-time as the basis for the sheduler.
Yea, I might have to vibe this one myself...
For me, this is the opposite of freedom. Reclusive behavior is a symptom of anti-social thinking. The myth of the Lone Wolf is attractive and overly romanticized. Very few great things were produced by one human alone.
Freedom for me is the ability to freely communicate/trade/organize with others in voluntary structures that produce more than the sum of their parts. In the book Atlas Shrugged, the "world" has become bureaucratic and authoritarian causing society to decay and collapse because brilliant people are no longer allowed to organize how they please.
Having "F*ck You Money" gives one an increased ability to act in spite of authoritarians and build one's way towards a more voluntary organization of brilliant people. After all, offering a large salary for another's time and experience is an effective way to make them voluntarily work for you.
In this way, sovereign people can build their own Galt’s Gulch - a safe place for smart people to build the future while avoiding the tyrants.
I think the character of Akston was a warning by Rand. Don't let the tyrants win by withdrawing from society into a prison of your own mind. Instead, find/build a community of like-minded people that can support your unique talents so you don't have to run a diner in the mountains.
"The primary act—the process of reason—must be performed by each man alone. We can divide a meal among many men. We cannot digest it in a collective stomach."
- Ayn Rand, Atlas Shrugged (1957)
In that scene, Dagny (protagonist) discovers that Akston, a once renowned philosopher, has withdrawn from the world and is now running a small diner in the mountains. When she questions him about it, he explains his philosophy of reason and independence — including the line you quoted
If BTC is such a pristine asset, how come I can't find anyone that gives a loan against BTC for less than 10 percent interest?
Even if I over-collateralize 2x, the interest rate is still way higher than mortgage.
I get that the opportunity cost for the lender is owning BTC themselves, and BTC tends to go up 50% per year.
But people are buying way more complicated instruments that yield 3-7%
Why isn't that capital being used for BTC backed loans instead?
My pick is A, because you put it first. Also it has a lot of land for growing food, and also, its closest to civilization so you can quickly get groceries when your dream of gardening inevitably fails.
B has a cool river, and old store building, but looks like it's close to a busy intersection. River isn't your property so can't easily use it for hydro power, etc. River could be a concern if floods are common.
C has irregular property shape and is way too close to the neighbors.
If there was an "official process", then bad actors would try to abuse the process.
Just because Bitcoin Core changes its code, does not necessarily mean "the rules" (i.e. consensus) has changed.
Truth is not the goal of social media, getting advertisers is the goal.
Advertisers like audiences who are frustrated, searching, and losing hope so that you are more likely to click on ads and pay for a solution.
Its okay to be a "burden" that's what the infrastructure is for. A new node doing Initial Block Download (IBD) is definitely occupying network's resources.
The marginal user isn't "helping" the network very much because they're not able/willing to upload terrabytes of block data to other new peers doing IBD. It takes additional configuration to share blocks using bitcoin core.
Running node is a mostly selfish act -- it request blocks from peers so you can verify them for yourself, it hoards and indexes the blocks so you can do transaction lookups without relying on a third party.
Running a node with listen=1 and a piblic IP bind address, uploading many TBs of blocks per month is a mostly altruistic act -- The most trusted altruistic nodes are listed in the seed_lists which bitcoin core nodes use to find their first peers on initial startup
Now show the price of storage in BTC terms! Running a node gets exponentially cheaper if you invested your BTC into your node instead of saving in fiat for node upgrades.
Lightning nodes, especially, can benefit from more expensive hardware like ECC RAM, RAID volumes, UPS, dual uplinks, etc.
The marginal new node is a net burden to the network. Unless it is actively listening for inbound connections and "seeding" blocks to peers, most nodes are just "leeching". To seed blocks, you need public IP and lots of bandwidth. Arguably, bandwidth is the "scarce commodity" which sets the floor price for a node. Many ISPs will throttle you after 1TB of usage in a single billing period.
Telegram is designed to be a honeypot for scammers.
IMO, any company who conduct business on Telegram are committing gross negligence when their customers get scammed.
1 BTC is plenty to start. Knowledge about the protocol, systems administration, good business acumen, and creative financial engineering are what separates the pro from the hobbyist.
Your "edge" as a node is your ability to select, size, and sustain high-demand channel liquidity at competitive prices. Your revenue can disappear if some other node decides to compete with you. It's a race to the bottom to find out who can price the liquidity most effectively.
It's not exactly the kind of business you want to depend on to fund your lifestyle, unless you're confident in your edge and competitiveness. With automation, a node could become a 0.1-person operation (mostly passive).
Just because you decided not to become a professional, does not mean LN is centralized.
You also have to be a professional to run electric/plumbing/HVAC, etc. yet, you can still find many people with with those professions in nearly every town! Pretty decentralized considering the level of training/licensing/insurance required.
I don't think jobs are the problem. A rebranding to "microjob" seems pointless. Parents can pay for chores, but honestly, I think paid chores only sustains the dependency problem.
Real jobs exist already, I saw a couple of 16yo kids mowing lawns this weekend. Respect the hustle, they could probably make more than their school teacher's salary in one summer if they had enough clients.
There's also more opportunity than ever to be entrepreneurial, leveraging online to find a market for your hobbies. Maybe kids are moving towards this form of "employment" and it just doesn't show up in the jobs data yet.
More likely, I think kids are delaying work because they have parents who are overly eager to support them well into their 30's.
Before you can use the best store of value, you need value to store in the first place.
The unemployment rate for young people is near all-time-high
We should be trying harder to bring back child labor. If they spend their best years trading time for money, maybe they'll think twice about what SoV to keep their money from melting long-term.
I have this view that there is "physics of programming". The physics of programming is NOT the algorithms you use, or the syntax, or the runtime complexity or memory footprint of the code. These are just performance metrics or limits of the particular language you are using.
Rather, the physics of programming is the mental model you use to describe the code. The physics is often defined by the variable names you choose, organization and standardization of files or class names, the data structures you use, the comments you write, or even a paragraph or two in the README.md that explains something at a high-level.
The "physics of programming" is what often determines the long-term success of the code.
Can someone new approach the code and read it like a poem or a timely newsletter? Where every line makes you want to keep reading? Can a human tell themselves a story about what's actually happening in the silicon? Is that story clear enough that they can tell another programmer (or AI model) that same story from memory?
As requirements change, as new tech emerges, code with good physics will attract smart programmers to work on it and keep it relevant.
Sometimes this approachability is a bad thing. If a mental model is too simple, it can invite people to complicate it in a way that makes it worse. This is also why we sometimes encounter that one piece of spaghetti code that nobody ever touches, and it somehow works flawlessly for years.
Good physics comes from understanding how people think. How we reason about abstract ideas. The words we use to refer to these ideas -- it comes from understanding the limits of what humans can hold in their mind at one time. When we read code with bad physics, we call it spaghetti, or unmaintainable, or smelly, etc.
AI does not have limits like our. It's context window is huge, it's memory is vast. The stories it can hallucinate are endless. But it is still trained on data that was produced with human limits in mind.
Whether AI models write code with good physics or not is likely dependent on the prompt and context you give it. The AI is trained on lots of code with both good and bad physics. The AI knows the syntax, it knows the quirks of the language you're using, it knows how to write performant code, but the physics is not well-defined unless you give it a "mental model" to work with.
If AI is increasingly writing code and humans, less so. I would imagine that the physics of programming could shift to a point where spaghetti is everywhere, but nobody cares because the AI can reason about it just fine. Kinda like how (almost) nobody reads/writes Assembly or byte-code by hand anymore.