Hynek's avatar
Hynek
npub1lz8x...h86s
Don't buy #bitcoin if you want to make money on it and exchange it back into fiat. You're basically trying to rip someone off, and more likely someone will rip you off. Buy bitcoin if you believe, as I do, that it is money for the foreseeable future. A fairer money that will replace government money.
LN doesn’t scale by itself. Liquid sucks. Ark isn’t ready. RGB isn’t ready. Are there any other significant ideas? High fees without proper scaling solution incentives custodians and bitcoin is loosing its self-sovereignty 😞
Defending #bitcoin maximalism ⭐️ 10 years ago, I didn't know bitcoin existed. But I was fiercely convinced that we needed better money than fiat. Gold seemed to me to be the best option for uncorrupted money. I imagined that anyone with funds in gold would not be so easily robbed. In time, perhaps institutions will develop that will compete and allow better service using gold backed money. I wouldn't even think of speculating whether they are Juan, Dollar, Ruble or Peso. It is all fundamentally the same scam. While I don't know their monetary policy or history, in important parameters it's all the same. Once I discovered bitcoin, it took me a few years to believe that it could actually become better money. Consequently, I switched to bitcoin as quickly as I could. If something comes along that I perceive as better than bitcoin, I will try to switch to it very quickly. But I don't currently see any project that even comes close to bitcoin fundamentally. Few are even trying to go in that direction. Until someone comes up with an original idea or execution or just whatever, it's a waste of time to wade through the altcoin garbage in my opinion. There are more than enough smart people wasting their potential like this. And I believe that if someone discovers something that makes sense, they'll be happy to talk about it.. similar to how I scream to the world that bitcoin is the rarest tradable commodity mankind has ever seen. Until then, I'd rather devote my full attention to spreading and improving bitcoin.
How would you give a #bitcoin as a gift? It's Christmas, it's someone's birthday, or you're going to a wedding and you want to give a bitcoin, of course. But how do you actually do that? Usually there is no room for explanation and the recipient doesn't know much bitcoin. At the same time, I want him to be in control of the bitcoin so that I can't turn it over either. Of course, this means that if he doesn't handle it well, he will lose the funds. Plus, it's not clear where to send the bitcoin anyway. Sometimes I just give up on that and give people empty Trezor device at first. We deal with the bitcoin itself afterwards in person. I don't want to give a voucher to a service, but some time ago I liked the possibility of giving a bitcoin via the Lightning Network using a so-called LNURL → QR code that one scans with a mobile app. It's actually a voucher that authorizes the holder to withdraw funds from my account. If he doesn't know how to do it, the money won't be lost, but in the worst case it will stay with me. More elegant than a QR code is to donate an NFC card. That's why in my spare time I'm working on an app that just makes it easier to upload bitcoin to a physical card and then suck the bitcoin out. Try watching the video, one gets a better idea.