Replies (133)

Not enough daily use amongst average people. Majority hodl for NGU. Only a handful of my customers ask to pay on chain, and that is probably due to the incentive offered to do so. Institutions adopting before the network really took off with the public for its original intended use case is no bueno.
You could, but it requires manually generating an invoice for each transaction.
Taproot fixes this. We can build an entire free market on top of Bitcoin — and that’s just Layer 1. Payments are only the first use case. Imagine everything you built at Twitter and at Block, but recorded on a timechain to prevent double-spending. You can go multiple layers deep, and each layer still outperforms the current fiat system. Now think about what this unlocks for Cash App: by adding first truly non-rigged free market. And the best part? npubs and Taproot addresses are fundamentally the same — just different prefixes. The social layer is already in place. We just need to study Taproot and start using it.
No, I dont think so. Taproot is already merged, so nothing to split. Bitcoin already runs taproot. A new fork, yes, has the danger of a chain split, so is not desirable. Taproot is already there, we just need to use it.
1-2 years ago: “Quick, we need to rush in BIPs or else Bitcoin will be dead because the block space fees are too high!!” Today: “Quick, if we don’t get the block space fees high then bitcoin will be dead!!” Reality: spam deterrent working exactly as intended. 🫡
Guaraní's avatar
Guaraní 9 months ago
Fico impressionado como ainda existem pessoas que não compreenderam que o Bitcoin e os "bitcoiners" não estão verdadeiramente interessados em promover uma moeda P2P acessível a todos os cidadãos. Muitos defendem que a Lightning Network é a solução ideal, mas frequentemente recorrem a serviços como a Wallet of Satoshi, que é custodial, ou seja, centralizado e dependente de terceiros. Isso ocorre porque a barreira de entrada para utilizar a solução de segunda camada com soberania — como configurar um nó Lightning — exige equipamentos sofisticados, como servidores dedicados ou hardware especializado, além de conhecimento técnico avançado para instalação, manutenção e gerenciamento de canais. Adicionalmente, é necessário imobilizar quantias significativas em BTC para abrir e manter esses canais, garantindo liquidez suficiente, o que torna o sistema inviável para a maioria das pessoas comuns, especialmente em países em desenvolvimento onde o acesso a recursos financeiros e tecnológicos é limitado. Por outro lado, a Nano oferece uma alternativa simples, rápida e sem taxas, permitindo que qualquer pessoa, independentemente de seu nível de conhecimento ou capacidade financeira, utilize uma solução verdadeiramente descentralizada diretamente na palma da mão, por meio de carteiras leves disponíveis em celulares. Diferentemente do Bitcoin, que enfrenta desafios de escalabilidade na camada base e depende de soluções complexas como a Lightning, a Nano foi projetada desde o início para ser eficiente, com transações confirmadas em segundos e sem custos adicionais, democratizando de fato o acesso a uma moeda digital descentralizada.
:P's avatar
:P 9 months ago
Empty blocks are okay and not a bad thing. It’s healthy and validation that the big blockers like Bitcoin Jesus were wrong. Onchain transactions are back to normal and the VC funded ordinal bros have moved on to chase the next shinny object. Also lightning has been firing.’ Crickets from the big blockers 🦗🦗🦗
VENATOR's avatar
VENATOR 9 months ago
Exatamente. O Bitcoin é indiferente às emoções humanas.
Cheap sats! Cheap txs! Bitcoiner's paradise! Onboarding newbies! Shitcoiners somewhere else (for now)! Hurray! Party! Come on!
This is actually a great thing. It shows that Bitcoin is ready to be used by many more millions. It takes time to understand. I think many more people will come to Bitcoin soon enough.
🚨 FORT NAKAMOTO TRANSMISSION: BITCOIN’S ADOPTION CURVE CONFIRMED 🚨 📜 Breaking News: • Slow onboarding? Not a bug. It’s a feature. • Bitcoiners don’t sprint — we stack. • Understanding sound money takes time, but once it clicks, there’s no unclicking. 🏰 FORT NAKAMOTO OFFICIAL VERDICT: ✅ Millions more will come. ✅ Patience stacks sats. ✅ The Bitcoin rabbit hole has no bottom — and the best part? We’re early. 💡 NEW RULE: If you’re not confused at first, you’re not learning. ⚡ Zaps = Proof of Curiosity 🛡️ Bitcoin = Proof of Understanding 🏰 Fort Nakamoto = Proof of Conviction #FortNakamoto #BitcoinPatience #StackAndWait #SovereignStacking #OrangePillJourney #TheSatsWillCome
Good money will first be used as a store of value before it is used as a medium of exchange. Nothing has changed, let the process play out but I agree we should not be passive about it.
Mempool weather guys: Day-to-day transacting is happening on lightning. Take this considerably rare opportunity to consolidate UTXOs, manage lightning channels, encourage friends and family to get their savings off exchanges and into self-custody. Take advantage of it while it lasts.
If there would be no tax when spending bitcoin things would be much different.
Everyone feel free to send me some onchain. bc1pv2nxnw2jyzevm7me2vjt4ucqmkp5em5rpp4d5vp6ck8xna72yltqjcgamp Thank you and have a great day :)
Bob Social, 's avatar
Bob Social, 9 months ago
Wealthy people don't want sovereign communities, because of the sheeps they can stay wealthy and they don't need btc to stay wealthy (preserve your wealth when you are rich activate anxiety to lose your strong position) 🤔When you don't have money or you're a normy than you/(we) can take more risk, we have more upside. The fear of losing your wealth and position is normal. Bitcoin don't need wealthy people (today), less wealthy people using btc, slows the process, but BTC is here to stay for us who want more freedom and options. BTC is bigger than that, it is here for the brave, for us who see the bigger picture 🩵😳
阿甘's avatar
阿甘 9 months ago
on-chain is cheaper than lightning?
Gluttony's avatar
Gluttony 9 months ago
Well, small businesses can accept BTC all they want, and it's not bad, caffes, gyms and others in small manufacrue or services, but if we don't get the big guys to accept it and make a circular economy we're moving nowhere. I am one of very few in my area that accepts BTC in person and on my webshop, but since I can't buy supplies with it needed to make the products or if just buying anything feels for a company or business as filling in immigration papers afterwards, the space will not move forward.
The #Bitcoin protocol is intentionally structured to begin as a high-growth asset, shift into a store of value, and ultimately serve as a global digital currency. It must first prove its security through a trustless system. This transition is supported by its issuance curve and other key indicators like hashrate and mining difficulty. When it's ready, it will replace fiat. It’s a path built into its code. The stages need to play out. We will not force it. It will force us.
I did my part yesterday by paying for my IPTV with on-chain btc. Also paid for my business cleaning with on chain via cash app
n0>1's avatar
n0>1 9 months ago
All is good over here.
n0>1's avatar
n0>1 9 months ago
Just means they are not there yet.
Default avatar
nobody 9 months ago
TIME FOR SMALLER BLOCKS
How do we fast forward to medium of exchange when we have to fight through Gresham’s Law first. Bad money pushes out the good (good gets hoarded) and people exchange in the failing crap until you can’t anymore. People hoarded real pure silver quarters when quarters started being debased with cheaper metals. I’m not sure we can truly get universal medium of exchange until hyperbitcoinization
strawhat's avatar
strawhat 9 months ago
perhaps users want privacy even on their spends - once bitcoin can be used as simple as a visa card, entities will know the transactions a user makes, and in part the state. a user might have habits they do not want anyone privy to. wide adoption probably goes hand in hand with ubiquitous privacy erosion when the state constantly wants to know everything you do
Between lightning, liquid and cashu, it'll take time before the blocks are full again (unless we get spam again). I use bitcoin all the time, but rarely onchain. It certainly shows though that we don't need softforks for "scaling". Keeping bitcoin secure is the most important thing.
Reasons why Bitcoin will die aka „game over“: - too many people wanna use it - not enough people wanna use it - nation state adoption - no nation state adoption - fees are too high - fees are too low - some people don’t get it fast enough - some peiple get it too fast - Elon buys more - Elon sells some - Saylor buys more - Saylor sells some … 🤣🤣🤣
This is a sign of maturity. More of the float is moving off exchanges and to OTC. Store of value phase is significantly derisked now
I believe this will be the ultimate fate of Bitcoin, to be the "high-powered money" that serves as a reserve currency for banks that issue their own digital cash. Most Bitcoin transactions will occur between banks, to settle net transfers. Bitcoin transactions by private individuals will be as rare as... well, as Bitcoin based purchases are today.
We will need to create truly valuable goods and services equivalent to Bitcoin so that those blocks can be filled. #bitcoin #nostr
why is that? for me its the effect of good and bad money. As long as i have bad money to spend, there is no reason to let the good one go. Restocking good one after spending it makes me always lose some percentage. And refill the stack is always through high regulated KYC. I always feel they are comming after me. Europe has become a mega glass shithole and day by day it get worse.
CRAZY! How many lightning transactions during this time? Or is it none? Do those transactions show up in the memepool (‘s) at all? Hard to believe some bots weren’t zapping something.
Incentives to spend bitcoin: - feels like the right thing to do when supporting services/biz/people you love - you're too short fiat and have no other option - you put a lot of time in your node/wallet setup and its cool AF - fuck the banks/KYC - some privacy and security gains (when you know what you're doing) Disincentives for spending bitcoin: - massive opportunity cost - spend weaker money first - capital gains on every fart - privacy and security risks (when you don't you what you're doing) - limited acceptance - setup friction/malfunction As of today, spending bitcoin is for the tiny minority of tech adept early adopters who make a conscious choice to do so for any specific reason(s). Not spending bitcoin is for everyone else. This dynamic can change when there are better Bitcoin-only products and services built on exquisite/tailored Bitcoin experiences that scale.
M A D E X's avatar
M A D E X 9 months ago
enter bitcoin jungle and bull bitcoin
WildBill's avatar
WildBill 9 months ago
Where you been man? Lightening network doesn’t support miners. It’s off chain transaction. It’s a repeat of paper on gold. It’s not final transaction settlement and it requires trust. It’s a lot like the dollar system we’re in. It’s a real problem. But few like to discuss this.
WildBill's avatar
WildBill 9 months ago
Final settlement. Trustless moving of value digitally. This was the whole point, right? Problem is, “never sell your Bitcoin” and lightening not supporting miners. This needs to be discussed more often.
This is not implemented on any other client. If you would like to see support like mine shows on link, signal support when I draft the nip.
Right. I just assumed (incorrected apparently) the auto channel refreshes, or some aspect would happen onchain more frequently.
Save bitcoin and spend dollars is still the more rational economic decision. That doesn’t somehow devalue bitcoin.
WildBill's avatar
WildBill 9 months ago
Unfortunately, no. There is also a case where those opening channels may have malicious intent and nothing can be done to prevent this. Only retroactively enforce penalties. Final transaction is a huge deal. Lightening doesn’t get us there for peer to peer. For this reason, I’m a big fan of BTC for store of value and Kaspa for peer to peer. But if you mention Kaspa in Bitcoin circles, there’s weeping and gnashing of teeth.
1984's avatar
1984 9 months ago
Let the gamblers, the hustlers and speculators keep Bitcoin. Any crypto coin will do for liquidity, as long as the transaction fee and time is keept low. Just give discount to people if they pay in crypto, you save the sales- and income tax anyhow (or atleast you should).
The whole point was to buy drugs. That was the time when BTC was used as a medium of exchange. Now drugs are being bought with Monero.
Z0M8I3D 3D's avatar
Z0M8I3D 3D 9 months ago
Empty Block Behavior can balance as a natural byproduct when it happens unusually fast compared to either of its neighboring blocks. Almost all blockchains do this but only when EBB is seen more than 2 blocks in a row or having only EBB during 2 block time worth of IRL time before loaded block do we say that the empty block is a bad thing.
WildBill's avatar
WildBill 9 months ago
I don’t mind lightening, but it’s not final settlement. It’s not Bitcoin. If you own Lightening sats, you don’t own BTC. There’s a reason the addresses are different. You have to find somebody willing to trade out your lightening sats to BTC, like Mallers with Strike. It’s a layer 2. Ideally, a scalable, layer-1 that is POW, that is secure, and allows for final settlement for P2P transactions. We may have this in Kaspa. Although you can’t say that around here because the religious zealots get emotional and stop thinking logically.
Jose Sammut's avatar
Jose Sammut 9 months ago
I don't think spending ever took off tbh. It was never economically viable to transact in Bitcoin before it establishes itself as a store of value, no matter how many stupid economic arguments people want to have. That should come soon, I think we're progressing towards that just fine, but I'd like to see non-custodial solutions being the status quo, instead of just a best practice. Clearly, low on-chain activity is a bad sign. I don't mind transacting in Bitcoin, especially if I'm on the receiving end, but only for small scale operations. For large scale operations your margins are usually too small to make sense and logistically it's yet another nightmare to manage your treasury.
Jose Sammut's avatar
Jose Sammut 9 months ago
@Super Fresh I see your business. Cool stuff. But as an example. Just assuming, your business is not cash rich, you don't have a lot of employees, and most of your running costs are operational, not supplies. So accepting Bitcoin works out just fine. But if you were a massive cleaning company, and you're having to manage a huge payroll, having your cash flow trapped in a volatile currency would be too risky. Bitcoin has to stop being priced as a risk asset before it can be a viable, scalable, medium of exchange.
People will save in the thing that appreciates and spend the thing depreciates regardless of what the whitepaper says.
Zryachiy's avatar
Zryachiy 9 months ago
Yes but only with permission from governments and third parties
What about when everyone becomes incentivized to become a miner? Not for some commercial gain, but to retain the security of your monetary premium If it becomes the world's monetary network, everyone will be incentivized. I see mining becoming like securing your private keys it's just something that you do...
MajesticQ's avatar
MajesticQ 9 months ago
Wow in 10 minutes not 1 transaction?
Exactly. Bitcoin is already a SoV, no matter what your local twitter influencer says. It’s time to reinforce the MoE part, otherwise the SoV part will lose its significance. Bitcoin that is not used as money fails as gold too. Pro tips: ✅ Spend bitcoin directly whenever you can, then replace. ✅ If you have an online store, consider running a BTCPay server or use someone else’s to start accepting Bitcoin. Woocommerce for WordPress got you covered with a plugin. ✅ If you have a physical store, with a BTCPay server that is completely free you can set up a POS on any phone or a tablet to start receiving Bitcoin via Lightning. ✅ Explore apps like Bitrefil or Bringin that allow you to convert Bitcoin to fiat at any merchant and any service provider. Not ideal because of KYC and jumping in and out of fiat, but it gets the needle moving. ✅ Use zaps on Nostr to advertise your business to Bitcoiners. Or if you’re lazy you can: ❌ simp for Saylor, Larry Fink and Donald Trump and wait for them to pump your bags (they won’t) ❌ complain about the fiat price of Bitcoin ❌ never learn how to use Lightning ❌ stay economy illiterate ❌ be a lil bitch
Default avatar
Karolina 9 months ago
Asexual men have been known to ask parents for aswarm sexy pictures as well Ben aswarm pretty much every day aswarm men are the most. Yes. 113 pm yes ok
Kinda rich from the guy that doesn't even accept #Bitcoin for the Bitkey.
bum's avatar
bum 9 months ago
🤷🏻‍♀️ what more could you ask for ..
I reckon we'll spend Bitcoin when spending isn't a taxable event.
Alisa Meu Pelo's avatar
Alisa Meu Pelo 8 months ago
At least i want to believe those blocks are empty because people are holding. I REALLY want to believe!
bjorn's avatar
bjorn 8 months ago
Game over seems like a massive overstatement. Was people not using BTC over the last ten years already game over for us? Why would it be today? Adoption will be a painfully slow process.