Replies (90)
I would repost this but everyone on nostr will do it because it is indeed that good. 🫡 nuff said. Thank you for your perspective ser.
When #nostr clients add "zaps" lightning will be like spendable karma
I think we're winning.
#[0]
> I've never seen it feel as powerful as it does on Nostr.
Idem!
With the nice exception of stacker.news, another great bitcoin-divulgative project.
Related:
note10kvn7wxya44gvht8sejqux47x98dss5gw0mgz7n4zxj0yh4eqjastysew0
Yes, early still but the velocity of what is going to happen with the network effect of lightning + and 2nd and 3rd layer scaling solutions + Nostr unlocks network effects that become impossible to stop because they bring so much value to users. Incredible times!
POW is too slow
Wasted energy
💯
I've said over the past month that the "killer feature" of Nostr will be **Lightning**. The fact that Lightning is so tightly integrated on various aspects of clients and soon relays, it makes using Lightning so effortless and frictionless. Beyond that, people tip each other and post invoices and show that it's fun! I've had a couple dozen people DM me and tell me that they had never used Lightning before. Nostr changed all of that for them. They downloaded their first wallet. They setup their first Lightning node. They opened their first Lightning channels. Nostr will help fuel Lightning and Bitcoin's adoption.
Had used bitcoin before, but until nostr, I had never used lightning.
Fast forward a week and I'm setting up my own lightning and bitcoin nodes!
I hope what happened to me happens to everyone that experiences nostr.
My first Lightning transaction occurred only once I joined Damus.
That's fantastic :) I really do love to hear that.
Hell yeah! Love it! 🤙
That’s the way 🧡⚡️
🤙
how many more decades do you think it will be before this tender resistance is behind us?
I'd like to list more lightning enabled projects in the 'bitcoin nostr' category at btcdir.org. Would really welcome any suggestions for anything I'm missing 🙏
100% agree but we need to make it easier to use lightning without custodians otherwise we are going to regret it in the future
Celebration time again 😜 very true though! 👍 Run your own Node, folks!
Hell yeah ⚡️
This I can concur with, it wasn’t til Nostr I actually saw lightning in use and wanted to contribute to both on chain and off chain networks 🫡
Is there an easy way to get a LNURL without going through a KYC custodian?
Also agree. For whatever reason is see a lot of people think non custodial bitcoin wallet is needed but custodial lightning wallet is fine. Not sure why that is the sentiment for many using lightning
You can set one up with your domain using BTCPayServer
Agreed. I’m not sure how we do so without people running their own nodes. Even then, channel management is not something most people will be willing to do and without proper channel management your ability to send and receive payments to your node is vastly diminished.
Lightning will always require someone else’s infrastructure, unless your wiz of course
False! Get an Embassy and connect real lightning wallets like Zeus or Spark.
This is easy and much cheaper than using custodial solutions.
🙏
We're on our way to ubiquity.
dergigi.com/vew
Do you run your own ISP? Do you connect to your own cell towers when you travel? Are you on your own power grid?
This is what the State will go after and regulate more.
Not very excited about the catch me if you can games that are coming, but here’s to freedom 🍻
You are still bullish on the fediment aka Uncle Jim model though right? Realistically it will never be 1-to-1 with custody, having a heuristic for being adequately decentralized is difficult but necessary for us to answer “have we made it?”
Just because energy is used doesn't mean that it's wasted.
yea I think fedimint is a solid tradeoff balance in the near term, better privacy and less trust then the custodial wallets that are popular today, still would like to see fully sovereign usage get easier
Cashu <=
Isn't this just the same as standard sats?
Running your own node is definitely a friction point but with lightning the bigger friction point seems to be liquidity management, particularly inbound liquidity.
Many of the people using ‘non custodial mobile wallets’ such as phoenix still have to trust the company that is running the node and providing them liquidity.
The concern I have is that we are onboarding a ton of people via custodial wallets and standardizing LNURL which has incentives pushing people toward custodial wallets.
Eventually these custodians will rug pull or shotgun kyc. It is difficult to reverse this course after the fact.
To be clear, is nostr integrated with lightning, or is it just the clients?
Is there something in the protocol?
Cashu is a cool project but is not going with the federated model. You get improved privacy over a traditional lightning custodian such as Wallet of Satoshi but you have the same custodial risk.
With fedimint the custodial risk is minimized since it is a multi sig custodian.
does having multiple custodial wallets mitigate this risk?
Wallets with multiple mints?
Yeah, and if there were polls here I bet we’d find a substantial percentage of us are in that boat.
Use my wallet < use my wallet and i cant see what you do < use my wallet and i cant see what you do and i have to collude rug you
And I must say it’s a nice feeling to get started on #LN and #bitcoin with the help and the energy of everyone here!
This will go far!
What’s the best solution to manage liquidity? Any interesting projects to support there?
Then you have to manage different pools of liquidity. You shouldnt have to say “oh, let me get my other wallet” all the time
Most people just want low cost frictionless money, and if they are being onboarded by buying $30 of BTC experimental spending money with their Debit Card via the getalby top up, they really don't even have to care about deeper issues.
Don't make perfection be the enemy of the good enough.
💯
LNURL pushes people towards hosted/custodial wallets. It’s better than the alternative. I just wish bolt12 was more widely adopted. I dont hold lnurl against anyone. Its a tool that exists today and works. But the reliance on a clearnet webserver comes with tradeoffs.
If you have WoS and Muun, you pay from the one that hasn’t bent yet knee. When one goes down, you learn about how to open a channel real quickly.
Leaving KYC issue aside, since *all* my coins are KYC 😉 , am I right in interpreting a hot custodial wallet greatest risk is simply losing the coins in it? So a balance risk management problem.
because it is lightning, its all hot wallet risk 😅
might i suggest doing some homework on Liquid? It offers a tradeoff to keep off-chain funds offline without an on-chain footprint, it could help you wrap your head around what federation risk is as people explore fedimint
If fees are zero and transactions are instant, what prevents users from jumping ship? Is it just a race at that point?
yes, and there’s that
Why do you think a custodial Lightning wallet is more popular than a Liquid wallet?
Lightning is awesome and it fits really well into the nostr based stack!
I’ve never used Liquid or even seen it in action. Part of it could just be network effect and the proliferation and improving UX of Lightning wallets. What is Liquid currently used for that would make it appealing to new users?
Sadly I think that most people will use lightning integration on their already kyc payment app when it is integrated. Most people won't care until something bad happen
I use it to swap for outbound/inbound liquidity on my lightning node using things like CoinOS, SideSwap, and Peerswap (p2p) .
to be honest, it makes no economic sense to do it (which is why no one uses it) but after using lightning for a long time one tends to look for ways to mitigate hot wallet risk -- Liquid offers a solution to that
I believe the use case is still confidential transactions for large transactions
So…mainly for institutional use, whale traders, and exchanges?
CLBOSS fixes this.
That was who they were trying to market to I believe so. There were some efforts made for everyday use, but it just didn’t catch on.
Is there a way to like this tweet?
Bolt12 is a step in that direction.
Privacy on lightning is essential because it will probably be how most people in the future interact with bitcoin. I think onion routing lightning transactions has potential to help with this. I know some folks are working on it.
If you knew the number of people in developing countries who are using #Bitcoin to stabilize their personal economies, you would be surprised how they manage to use it through Lightning. #Nostr is definitely a way that we need to take as a society.
What do you think about Phoenix Wallet’s solution?
**Today on nostReport**
BREAKING ON NOSTR:
To the dismay of 99.7% of Nostr, #[0] reports that #[1] is actually sending hugs and **NOT** movie cameras #[2]
#[3] reports final dates of #Nostrica are March 19-21 in Uvita, Costa Rica. #[5] reports that 295 people are attending to date #[6]. #[7]
If you have time to read one thing today… #[8] explains why bitcoin is “better than money” in 🔥note. #[9]
You may have noticed Vanity Keys popping up around Nostr. Our own Jack Dorsey reports on just how to get those #[10] . Try your own here
https://hitony.com/nostrogen/
If you noticed the #plebchain feeling wonderfully long today, well it’s because of all the new accounts created. #[12] reports that 6,100 new nostr users joined the network in the last 24 hrs #[13]
Congrats to the meme of the day #[14] from #[15]
And finally, #[16] asked for it ( #[17] ), and we delivered 🤙
**If you have a late breaking news story you’d like to share with the nostReport send a DM to #[18] with the Note ID for our team to review. The best of the best will be shared with the community!**
This is the tipping point for sure! Party on
Making people use bitcoin without caring about it is slowly happening. Apps like fountain already let people people fund their custodial wallets with fiat and send sats to support podcast. This is only the beginning. Music and e-commerce will likely be impacted in a major way too. I could even see it take over the SaaS world with sats streaming per usage. No need for subscriptions anymore.
What do you mean?
The fiat value of satoshis faces short term volatility.
p2p fiat enables fixing a fiat value - and have the number of satoshis you hold change to always keep that fixed fiat value.
The counterparty takes a leveraged long bitcoin position.
Fully agree!
#[2] is working very hard on addressing your last point with Strike!
it seems to me the major risk is that all your transactions are eventually linked to you pretty much publicly through chainalysis. This doesn’t leave aside KYC though, and since all your coins are KYC 😉 managing the data sharing and trusting custodians not to give away, sell or leak your data is the major issue for security in the future. Otherwise, yeah, losing your stack isn’t fun either.
please try twetch.app it is better and its real bitcoin
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Take this motherfuckers central bankers! We coming to eat your lunch!
View quoted note →It has been 7 months, so I’ll repost it for the #newbies that are #newtonostr 🏆
Bitcoin. Better than money. (Thanks to #nostr.)
View quoted note →POW is what makes #bitcoin a commodity money whose ledger is constrained by nature.
Like physical gold is a commodity money with a ledger constrained by nature.
The base layer is not built for speed, it’s built to be very hard to fuck with.
L2+ brings speed and more efficient transactions, but without a hardened base layer, you have no real value.
EXACTLY!..👍 All these fools that think you can compromise the base layer for L2 and short term gains are idiots.
That's why #Satoshi designed the #consensus layer to rest in the hands of the #virtuous #fullnodes and #Bitcoin loyalist.
It's also why being able to run a full node must be accessible to almost anyone that wants to.
No blockchain bloat. Low #transaction #fees. Those elements are immutable for Bitcoin.
We are Bitcoin..🧡👑🗽
I am, however, concerned that lots of people use custodial wallets like Alby or so-called "Wallet of Satoshi". Call me a maximalist, but that kinda defeats the purpose of cryptocurrencies...
Don’t disagree but would argue the point of Lightning is that it’s ‘easy’. If you treat it like a checking account it facilitates the international settlement benefits Ed describes above. Never to hold anything on lightning that you couldn’t afford to loose…that’s what cold storage is for.
Not there yet for everybody, but soon.
Give us another 7 months.
View quoted note →When we solve for transaction fees, the friction to adopt goes away. Effectively free, bid spread fee, something—but must be damn close to free before miners can focus on that problem in 2140
How this post only 22 zaps??
💯
Just gonna drop a meme
View quoted note →Thanks for the insights... that is an awesome take!
Bru right there with you! I have bought all my drugs with bitcoin at a discount!
One day it will be the same with commodities, exp; your purchase at the supermarket will have cheaper options if you use bitcoin. Just imagine
Damn was just going to say that... Every non kyc lightning wallet is a pain in the ass, because all the good ones like Samurai and WoS have gone away. You gotta be techie to run the others.
i guess we didn't zap enough to keep him around?
