mykopikid

Is bitcoin the Peer-to-peer electronic cash system it was designed to be? Some thinks that it must be able to facilitate buying coffee in order to be cash system. Wrong. Even if you make the block size 100GB, you cannot use it to pay for coffee if the wait time is 10 min. The block size have nothing to do with making immediate payment with full settlement. Peer-to-peer electronic cash... its important to understand the meaning of the word "cash". Cash does not mean fast and immediate (even though it can be in different circumstances). It meant once it change hands, the custody is on the other side, thereby traditionally it is physical cash. Why it does not necessarily meant it will be fast and cheap? If you have $10 or $10mil in cash, if you want to buy anything that is not within hand-reached, it will be slow and costly. If you want to send physical cash of $10 or $10mil to someone 100km away, it will be expensive and slow. So, bitcoin with it's 10 min confirmation and if you wanna wait even 6 confirmation, an hour for final, permissionless settlement, where custody is transferred to the receipient in finality, bitcoin is peer-to-peer electronic cash system.

multi-grain bread, french butter, local free-range egg and cheddar cheese on top. Healthy, tasty and nutritional.

Three important area of understanding that give us a purposeful life: 1. Our faith 2. Our diet 3. Out economic value Our faith: Without which our time preference tend to be low. If there is no potential after the physical existence, let eat, drink and be merry... for tomorrow we die. Our diet: If I get a brain tumour or weird disease, what can I do? But destroying our body by eating tonnes of junk, like refined carb and sugar, being lied to by powers controlling our society that eating frequently is good, "vegetable oil is good", saturated fat is bad.. makes us physically weak and will constantly be dependant on big pharma companies to sustain us. Let's wean ourselves off Fiat Food. Our economic value: By having proper understanding of our faith and diet, we now can have a lower time preferance and a longer view of things. Let's wake up from the lies of the fiat mindset and debt-based economy. Let's store our value in strong, neutral money where they cannot be devalued, debased nor destroyed. Let's bitcoin.

just onboard someone to @AquaBitcoin to move their entire stack away from Huobi exchange. Now they can easily move their bitcoin between on-chain, liquid and USDt.

Excellent Bitcoiner Malaysia meetup @BitcoinerMY Thank you guys and gal for coming. We discussed: - fees - scaling with bitcoin bank? - what is the currency of the future? you want btc or USDt ? - demo prototype of ground-breaking new multi-sig hardware wallet. it's damn cool. And some smaller discussions but no less important - running nodes, mining, block collision - liquidity or exit scams, are they real? RWA tokenization?

Bitcoin does not have intrinsic value or does it? There are 2 ways to look at intrinsic value. Financially and philosophically. From a financial aspect… According to ChatGPT: Intrinsic value refers to the inherent worth of an asset, investment, or entity based on fundamental analysis without considering its current market price. This concept is commonly used in finance and investing to determine whether an asset is overvalued or undervalued by the market. Essentially it is an attempt to determine the value of an asset without basing it on the current market price. Philosophically, intrinsic value refers to the value of something in and of itself. The value that is not derived from the external forces like the market or someone’s personal preference or desire. The value that is not based on the majority of human’s perspective or even any human’s perspective. As an example, for any particular object, if it is desired by just a single human out of the entire humanity, that object has inherent and intrinsic value to that single human. Or we can consider nature itself. If all human would ceased to exist, oxygen or CO2 or H2O would still have intrinsic value to other creatures in the world. Or even other intangible concepts like love, kindness, dignity… something that cannot be measured with any consensus in the financial world, would be considered to have intrinsic value by vast majority of people. Thereby, if the question were to be posed if Bitcoin itself has intrinsic value, we cannot use the philosophical aspect to measure. But then, Bitcoin is such a unique asset or system or network, that all existing models used to measure assets in the financial world are broken against it. Let us consider the following properties of bitcoin where it stands alone amongst all the inventions of humanity. 1. It is likely the only invention of human that is scarce, where it’s unit cannot be increased. There will only ever be 2,099,999,997,690,000 units issued into the bitcoin network. While this is not a philosophical nor technical certainty, by all means and purposes, there is no reasonable game theory to increase the supply of bitcoin based on the known behaviour of the entire humanity throughout the ages. How can we find any significant consensus to devalue ourselves? 2. Bitcoin is the only network that cannot be destroyed barring the total elimination of the Internet and all the computer systems in the world permanently. Imagine a world with No Internet, No computers and nothing digital ever. Based on these 2 properties of bitcoin, it’s intrinsic value is arguable the highest among all known human inventions. And finally, someone may argue, what if one day people don’t want nor desire bitcoin anymore? Of course, like everything in the human realm, if no human ever wants it, its value will drop to zero. That is of course merely an attempt to postulate Philosophical possibilities. And i would say that is a futile attempt. The pertinent question to ask is why human would not desire something that is scarce and durable? Humans through the ages has been in searching, seeking and storing that which is scarce and durable. People want beauty that is lasting, strength that endures, quality of lives that does not end. Thereby, bitcoin is the definition of intrinsic value.

Banana Cake with clotted cream https://video.nostr.build/f5c17fea279d67760fbcee9133d8d597c3c07658e8d7c3b87a987973efff9dc9.mp4

Bitcoin vs Shitcoin https://x.com/mykopikid/status/1798957506166915482?t=NTFQHtSXy5QwwstV0S_tWA&s=19

Bitcoin vs Shitcoin https://youtu.be/n61nWs4c3aY

How can someone who cannot code earn sats on bitcoin industry?

I have a block clock that also plays a RM1mil lottery every 10 min.

If you are a bitcoiner in Malaysia, KL... come join us. https://0de644eaaf.d.voltageapp.io/events/UCWa7RD9NDzCPx4zTdWkVk Venue: @myespressocafe Day: May 22, Wednesday Time: 7.30pm till late Must buy ticket in advance because we need to order Pizza in advance. Vegetarian Pizza will be available too.

Sembang Bitcoin: Brand new bitcoin podcast in Malay. Episode one: https://youtu.be/q9sDv4-Fggc?si=ziUiD6Mq3gTAlCPI

Is messaging on Nostr private?

I'm beginning to see the power and coolness of ecash like Cashu and Fedimint.

Regarding using bitcoin as a Medium of Exchange. Michael Saylor thinks that bitcoin is primarily a superior asset where there is no second best. It is the best Store of Value. Thus the ease of payment mode using bitcoin as a medium of exchange will not be the main factor that drives bitcoin adoption worldwide. No one after all, will buy a prime property in central New York with the intention to break up a small piece to buy a cup of coffee. To that, I agree. No one, given a choice will use something that cannot store value as a medium of exchange unless it has the power of force and guns behind it. Essentially, the govt forces you to use something that cannot store value as a medium of exchange. If you are a Venezuelan, you have no choice but to use the bolivar. If some of us are old enough or remember stories told to us by our grandparents, during the Japanese Occupation of Malaya, they were forced to use the “Banana currency” with literally a picture of banana on the paper printed indiscriminately by the occupying invaders. They have no value. No one wants them if not due to a gun pointing to their head. Traditionally, going back to the ancient of days, that which has a strong capability to store value tends to NOT work very well as a medium of exchange. A gold coin was very difficult to use if you are trying to buy a chicken or some fishes to feed your family for the day. Even in ancient China, while the emperors, rulers and lords stored their wealth in gold, the common people used silver and copper as a medium of exchange. I posit that for bitcoin to have global adoption, it must be recognised as an undeniable store of value, an asset with no second best. This is what will drive global adoption. BUT unlike gold and real estate, bitcoin is also something very portable, divisible and easily transmitted over space via the Internet. Anyone can use bitcoin as a medium of exchange today if they wanted to. For small and fast payment, bitcoin on the Lightning Network is excellent. We are not anywhere even near to the limit of the Lightning Network. Third Parties Custodial services, frown upon by many, are incredibly efficient. Improvement on Self-custodial Lightning is continually being improved on but the current tech will not be used by the masses. The pros and cons of custodial issues require a different discussion. We also have federated solutions like Liquid, Fedimint and Cashu E-Cash that are fast and private. And all these are continually being improved. We need not be overly anxious that a billion people cannot use bitcoin as a medium of exchange because while it is super efficient and fast to use now, we cannot even get 10 million to use them. Storing of ones’ value in bitcoin is of higher importance now and certainly more urgent. Our fiat money loses value month by month, year by year continuously. But almost no one has a problem using their fiat money as a medium of exchange. Thereby, I would say positioning bitcoin as a second to none, superior Store of Value, resistant to both State confiscation and censorship is the message to the masses. I’m confident that the bitcoin tech communities will continue to build towards hundreds of millions to billions of users going forward. I am sending and receiving bitcoin over the Lightning Network almost every day with 99.9% success rate using my own LN node and some custodial services. We are still very early.

When I was a young bitcoiner and also a shitcoiner, I like to use wallet that supports all the shitcoins, with tonnes of features, futuristic designs, very cool sounding name... like Exodus, Trust, Coinomi etc... Now that I've grown up, I dump all the shitcoins. Now I want those boring wallets, that ever heard of shitcoins, no defi... be simple, be secure, be open-sourced, virtually unhackable and unruggable. Hot Wallet (with direct Internet connection, therefore with tiny possibilities of being hacked): 1. Green Wallet 2. Blue Wallet 3. Samourai Wallet Cold Hardware Wallet (with no direct connection to the Internet, open-sourced and cannot be hacked remotely) 1. Jade 2. ColdCard 3. Foundation 4. Trezor (if using Trezor, make sure it's bitcoin-only firmware) Best Desktop Wallet 1. Sparrow Wallet

It's a rite of passage to ride the wave of bitcoin winter all the way down to $16k and emerge from the tunnel of darkness to the brightness of a new cycle. Cherish every moment.

Money is a representative/token to store & exchange value. There is no such thing as fake money. Anything can be money including cigarette, salt, seashell, rocks, copper, silver, gold and nicely decorated papers. But there are differences between hard money, weak money, easy money and useless money. Bitcoin is the hardest and strongest money, that is neutral, supply that is capped, very expensive to produce, unconfiscatable, unstoppable and transparent. Your fiat is an ant facing the bitcoin Anteater.