High-level idea for gradual scaling of bitcoin with the proper combination of verified contacts, cashu, nostr, and channel factories. See the post on GitHub:

GitHub

Hynek/blog/Channel Factories fueled by Cashu.md at main · hynek-jina/Hynek

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Imprisoning a person seems to me like the most desperate solution, one that does not compensate the victim—instead, it indirectly forces them to pay for the costs of incarceration. I understand that there are situations where, as a society, we don't know how to handle it differently, but it should be only a handful of people, with the awareness that this is a suboptimal solution and with the hope that we will soon find a better one. If a country specializes in imprisoning people, it feels like modern-day slavery to me. And the relative number of prisoners could serve as an index of that culture’s backwardness.

I still don’t get the DCA. Why would you keep holding the fiat?

Bitcoin is more than the best store of value

Breez | Report

Bitcoin Payments: From Digital Gold to Everyday Currency

Is there some library that would help with cashu (issuing, burning, …) without connection to external mint? #asknostr

Jsonbits is asking on @Stacker News What do you think is the biggest thing holding back mainstream merchant adoption?

Stacker News

Merchant Adoption in the US \ stacker news

What do you think is the biggest thing holding back mainstream merchant adoption for bitcoin and lightning payments in the US?* Background: After r...

— I think there needs to be demand from paying bitcoiners first. And bitcoiners need to go full in bitcoin even before that. Otherwise they tend to fall in Gresham's law fallacy

Another beautiful consequence of verified contacts being able to issue their own Cashu tokens is that it simplifies communication within a Lightning channel factory. Once you have verified contacts with their npub, you can coordinate the construction of a new channel factory and, more importantly, modify the distribution of existing virtual channels within the factory. You can freeze the state of channels and continue clearing via Cashu tokens. Once the new channel distribution is settled, you can redeem the tokens back through your newly established channels. View quoted note →

Imagine if everyone could issue their own IOUs in sats. I don’t mean just anyone, but literally everyone. You would accept promises only from well-known and verified peers—and only up to a certain amount. You would compare the risk of losing this money with the cost of bitcoin settlement. During times of cheap block space, like now, you could settle on-chain more frequently. If you have a stable internet connection on your mobile, you could start opening channels with your peers. Once you have a few channels, the incentive to hold IOUs decreases. And with further optimizations, it diminishes even more. This could extend the reach of the Lightning Network, connect the missing points, and, over time, help build a truly resilient network. View quoted note →

If we can’t guarantee that nobody can print money the second best could be that everyone can print. And with verified peers the ecosystem could evolve to intended state that nobody is actually printing. View quoted note →

Self-custody is not trivial, but self-custody for state institutions will be huge honeypot and therefore really difficult to maintain.

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