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@teemupleb
175,876 sats stacked
29 sats \ 0 replies \ @teemupleb 9 Dec \ parent \ on: One year later: so why do people ****coin? bitcoin
Fair point but I think e.g. the word “censorship-resistant” refers better to that
11 sats \ 2 replies \ @teemupleb 8 Dec \ parent \ on: One year later: so why do people ****coin? bitcoin
Can you tell me from who I have to ask a permission to create my own token on e.g. Ethereum?
11 sats \ 4 replies \ @teemupleb 8 Dec \ parent \ on: One year later: so why do people ****coin? bitcoin
Depends on how the smart contract is programmed
61 sats \ 7 replies \ @teemupleb 8 Dec \ parent \ on: One year later: so why do people ****coin? bitcoin
Creating shitcoins on Ethereum and Solana is permissionless.
28 sats \ 1 reply \ @teemupleb 8 Dec \ parent \ on: One year later: so why do people ****coin? bitcoin
High time preference gambling mindset.
They think they can flip those tokens back and forth for large profits.
Maybe but it’s good to read the room and know your audience here.
Stackers generally don’t want to read posts written by AI.
However, it was a good topic for discussion and you would have most likely earned much more sats if you had just used ChatGPT’s answers as an inspiration and written the text yourself with human touch.
If they had really understood the future value of what they were holding, they would have changed ze Rules!
Still mostly Coinbase: https://cointelegraph.com/news/anchorage-bitgo-joining-coinbase-custody-21shares-crypto-etfs
Don’t sell for fiat, but spend it on goods and services you would buy anyway to boost Bitcoin as a medium of exchange.
Thanks for sharing! I highlighted an interesting part from the article about the Collider Script research:
OP_CAT is so broadly useful that whether or not we get a soft fork it appears the wheels are already in motion to emulate it. Both through Bitcoin PIPEs and the recently published (but absurdly impractical) Collider Script research, OP_CAT and some other covenant opcodes are possible today if you have time and money. TL;DR: we can use fancy math and computers to accomplish the same things CAT does without a soft fork. The question is, who has the money or incentive to chase this rabbit cat? Multiple attendees at the conference claimed that the use of CAT is so desirable that the cost to emulate it is not a barrier. For example, Starknet spends upwards of $20 million per month in fees to Ethereum and doing comparable activity on Bitcoin with an “expensive” CAT emulation would probably be cheaper.
Self-custodial Blitz Wallet worth playing around for newbies.
It uses e-cash and Liquid for small amounts, but once you exceed your specified amount, it automatically opens a hosted Lightning channel for you using Breez SDK and Blockstream Greenlight.
No need for that ”ok, once you get enough balance, move from Blink to Aqua and then from Aqua to Phoenix etc.”
Instead, they “spend” Bitcoin to earn Stacks’ native currency, STX tokens. This keeps everything tightly tied to Bitcoin and makes sure that any activity on Stacks is anchored to the main Bitcoin blockchain.
How does it keep everything “tied to Bitcoin”? Why spend bitcoin to earn a token? Who owns this token? Is it being diluted? I don’t think you explained sufficiently how the proof of transfer mechanism works.
They’re not gonna give up taxation. It gives a “use case” for fiat because it burns some fiat shitcoins from circulation and prevents hyperinflation.
However, it would be beneficial for governments to remove cap gains tax from small purchases made in bitcoin (e.g. $500).
Tax revenue from those are a drop in the bucket anyway and don’t make much difference, but it would boost businesses building on Bitcoin as a medium of exchange (whose profits could then be taxed more if they so choose).
He has a lot of influence in the Bitcoin space, so of course it matters what he thinks. Of course, Bitcoiners don’t have to listen to him.
“Robin Linus, a Bitcoin developer who has made waves for a project known as BitVM and more recently BitVM2 that could unlock greater programmability, told CoinDesk in a Telegram message that the research paper was "not really practical" in its current form but represented a "pretty awesome idea." "It would cost like north of $10m to execute such a covenant, but the idea behind it is ingenious," Linus wrote. "I hope people will try to come up with optimizations to make it practical."
In this modern-day Robin Hood tale, Satoshi Nakamoto didn’t rob the rich—he stole from himself.
Entertaining read this article. But I don’t like this trope that “Robin Hood stole from the rich”.
In the original tale as far as I know, he stole from corrupt government officials.
Granted, in medieval times government officials and “the rich” were often the same individuals, I suppose.