Posting quality educational content here... with a hint of spicy salsa that you may or may not be able to handle. I'll mostly post about my difficulties with this platform initially.
Public Key
npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh Profile Code
nprofile1qqs80txazu5s7h63j6vlgdcsgnfmxmzj0ttzl507qtmk6r2hg3m5zhspz3mhxue69uhhyetvv9ujuerpd46hxtnfduqs6amnwvaz7tmwdaejumr0dskec5w4
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Published at
2023-07-17T23:16:15Z Event JSON
{
"id": "a1c7fbd4f8fe1de4c71b79b1e1a8ccfc502f04ca770a869c44651bddeecfaff1" ,
"pubkey": "77acdd17290f5f519699f4371044d3b36c527ad62fd1fe02f76d0d574477415e" ,
"created_at": 1689635775 ,
"kind": 0 ,
"tags": [],
"content": "{\"name\":\"B33TCxAi\",\"display_name\":\"B33TCxAi\",\"about\":\"Posting quality educational content here... with a hint of spicy salsa that you may or may not be able to handle.\\n\\nI'll mostly post about my difficulties with this platform initially.\",\"picture\":\"https://void.cat/d/AWmT1Nza4smyDxJdT18pTF.webp\",\"banner\":\"https://void.cat/d/K3JwDJpjdRPKdJcD6A5Cre.webp\",\"lud16\":\"[email protected] \",\"nip05\":\"[email protected] \"}" ,
"sig": "0a1deab64386be7c9cdea389bb273417a03f8d198479abd54adedc9c7b5ae4b635360c87d18098c92b2a06a8fd328370cf0bbd09a0b74dccce3508c33c376041"
}
Last Notes npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi o i was zapped npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi AI Lyn authorized by Lyn Alden npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi Just input all of your public conversations into an LLM and make an AI clone of yourself. Send this AI bot to all the events you turn down and make even more money. npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi followed 20 new people today. u follow me and i got your back homie npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi funny how governments want to promote competition amongst companies so people can get the most benefits... but when you launch a competitive money product, governments start to lose their minds. lol npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi i vote that jason is a scammer npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi fuk elon npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi gm, let's all switch off social media and enjoy the week, gn npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi GL npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi should of bought bitcoin instead npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi burn it down npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi probably nokia if anyone npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi It's the Ai overlord trying to stop hoomans from reproducing by infecting their minds with dumb shit. npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi I zap people for great content, work and memes. npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi thanks! npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi I figured out why people add 'str' to every hashtag. It's because we are on Nostr, No-str. Get it anon? #lolstr npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi You made this with ai, right? right? npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi lol, who cares about elon app npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi I want a bundle of everything, Good interface Sexy features and I pay npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi No idea how all this stuff works but it would make sense for your feed to load up based on: 1) The people you follow 2) Which relays they use Then your app loads up data from the minimum number of relays needed to access all the information of the people you follow. Then it hits the next round of relays and so forth. Faster load times would be the result. I am I genius or just stating the obvious which is already implemented. #asknostr npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi Surely it is possible to see which relays are used by how many people? #asknostr npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi The miner who mined block 800813 really did miss a great opportunity to add something to the meta data. It will be a long wait for the next opportunity. npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi 74 minutes later, tick tock, next block. npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi #BTC Block #800822 be like https://img.nbc.com/sites/nbcunbc/files/images/2023/7/27/1690457208485_tdy_news_7a_haake_mitch_mcconnell_230727_1920x1080-naef52.jpg npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi i got it vertical, how are u shooting so fast! npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi Thanks! snort does not give me that option from what i can see. npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi how do i remove people from being re:'d into my comments... npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi #note1mde…eymt Given the stats shown above, it will likely be uneconomical for 87.8% of hoomans to transact on the main chain of #bitcoin on a regular basis. Therefore, these humans will inevitably have to use another layer. So far, the only viable option I see is to use the #lightningnetwork. Open source layer 2 systems like the lightning network protects these people from the pitfalls of closed layer 2 systems (e.g. banking sector private rails). More info on this topic --> #note1wmv…p8sp Note: 87.8% comes from adding up the population in the lower two wealth categories (sub $100k). npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi Is your personal trainer making you do weird shit again XD npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi Happy weekend my fellow pleebs! npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi https://void.cat/d/6RXnn1hVuexi5SRmGSPBuy.webp If you want to: be a $millionaire, you need to #HODL 0.1086#BTC. be a $six figure hooman, you need to HODL 0.0092BTC. be a $five figure hooman, you need to HODL 0.0010BTC. be a $four figure hooman, you need to HODL 0.00006BTC (6236 sats). npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi Using the #statistics created by Debit Suisse in 2021 and taking the current population into account, I have created a model that tells you how much #BTC you need to #HODL to maintain your current level of purchasing power once #Bitcoin becomes fully distributed globally. This is just a basic framework and you can shit on it using a variety of criticisms, but lets enjoy the simplicity here. Key Data: Wealth Distribution - https://www.visualcapitalist.com/distribution-of-global-wealth-chart/ Global Population - https://www.worldometers.info/world-population/ Bitcoin Supply - My node https://void.cat/d/GHQJ3ufhu3SgG4UK3pYZP5.webp npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi about to release some shocking statistics, stay tuned #nostr #fam npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi Happy bday, sending sats <3 npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi I was once a fool and probably still am... But you must take an interest in the affairs of your government, otherwise you run the risk of being ruled by fools. npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi https://twitter.com/lopp/status/971520121704538112 npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi The cozy levels are off the charts here <3 npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi The cash whales want you to think that liquidity drain nonsense so they can buy up BTC for cheap. Printer go brr 24/7. npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi https://tenor.com/byCbY.gif npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi use https://nostryfied.online/ to broadcast all your data to all major relays made by iefan npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi you still need to buy bitcoin then flip it to layer 2 btc npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi https://coracle.social this site shows notifications really well compared to others npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi there is a fucking spider crawling on my pc as I type this out, lol npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi this take is spicy npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi I disagree npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi The #censorship we are seeing in the western world today on major platforms is completely unacceptable. npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi maybe i should add nostr in my name too lol npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi fucking scammers npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi that shit be evil npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi We are just specs of dust in this vast universe, therefore, chill out and buy #BTC. npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi comes back to my point lol, #nevent1q…pyax npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi The largest whales in #Bitcoin need to deploy their capital to make Bitcoin better than what it is today. I'm talking infrastructure for day to day payments, and they 'may' need to subsidize it for a while to bootstrap adoption. If bitcoin is not flowing towards the best projects and use cases, then the masters of that capital are bad stewards of that capital. If you carry fat stacks of #BTC, your job is to deploy it properly to get the economic engine moving in a way that is mutually beneficial for all. Otherwise your fiat overlords are superior to you. npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi gm npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi the best i can do is 21m npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi this is so nostr worthy npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi @npub1cmm…lr6f npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi use https://nostryfied.online/ to easily backup to major relays .. iefan made it npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi this is mathematically impossible for me and other hoomans npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi when elon and his bird app is over. npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi if it ran in 2010 with ancient pc and connections it will run fine now lol npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi bitcoin was designed to be able to run off the worst setup possible, lol npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi nah any shit connection will do fine, don't overthink it. buy small cheap pc, run simple software, done. npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi politicians will literally print money and buy BTC npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi chad saylor back in the #nostr house! npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi Beautiful, thanks for sharing. npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi Back to the topic of using #energy to create products and services of value. #Value is really a subjective thing to each and every one of us. One way to look at how hoomans value things is based on their own perception of time and space. E.g. 1) Hooman with a long-term view will place greater value on the future. 2) Hooman with a short-term view will place a greater value on the present. The hooman in point one will love #Bitcoin The hooman in point two will love #Fiat Hooman in point one can withstand pain and shocks in the present to create a better future. Hooman in point two will do everything possible to secure their short-term wants/impulses without a care for the future. #Bitcoiners are inherently patient builders of a better future. #Fiaters are short-term thinkers and usually selfish. Yes you can shit on my arguments and yes you may make valid points, but let me continue on this tangent for a while longer. Bitcoiners build to last. Fiaters consume to fast. From my interactions with various people, this has usually been the case. Some people are bitcoiners without even holding bitcoin and some people are fiaters who hold bitcoin. But the point really is whether you are long-term focused or short-term focused. Looking at this decade as fiat currencies continue to shit the bed while #bitcoin emerges as the money everyone uses... It is clear to me that there will be a 'value mindset shift'. The fiat delusion that has distorted minds for the last 50 years is coming to an end. People will end up looking at things differently than what they have done in the past. Too such an xtent that there will be a growing shift towards products and services that enhance the long-term prospects of a hooman as opposed to short-term quick fixes. What products and services can we build today that will be valuable to a more long-term focused pool of buyers? npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi It would be great if someone built something that lets us sort/filter/select an algo that lets us view #nostr in the way we want. npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi I can follow people now 😃 If you follow me I follow you. Just math. npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi How does one do this politic npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi fcking scammers npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi in summary, fck sam npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi Mike needs to hop on the Nostr train, he will love it. npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi No idols. npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi @npub15dq…lm5m The #lightningnetwork protects poorer participants in #Bitcoin. Or any other open layer 2 network for that matter. npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi i fkin love it npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi you can operate your own lightning node though quite easily these days npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi "As of 2023, Bluesky operates its own official network called Bluesky Social, a centralized service running on proprietary software for its servers and client apps" sounds shit npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi I really hated using #nostr in the first few weeks, but now it's starting to grow on me. npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi what is bluesky? npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi *whispers* do it npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi I feel offended npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi Elon is a full of shit pro larper npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi nevent1qqszq55nm23ce5znkfthdsvn0sm4zhug2vuzz60rnfcrvhw4fw03y6qpr9mhxw309anxvenhdpuk6efwd3hkxctv8g6rsdpc9uq32amnwvaz7tmjv4kxz7fwv3sk6atn9e5k7tcckre6q npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi show how npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi This solved my problem where my follows never registered on relays. Step one: login to a client and follow everyone you want to follow Step two: use the new tool below and it broadcasts your activity to every major relay Step three: everyone you follow stays there even if you log back in a day later #nevent1q…tffe npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi https://iris.to/note1ls5hflldj8hmjm5wcxwy5vtcp2xxk4hfhm5daacpm47vht7s9gvschu0xm npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi note1ls5hflldj8hmjm5wcxwy5vtcp2xxk4hfhm5daacpm47vht7s9gvschu0xm npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi @npub1sg6…f63m npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi 🫂🫂🫂 <3 npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi lol, I read this as "what block are you currently on"... I'm clearly too much bitcoining npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi gm, happy block 800,000 npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi I've tried iris, snort, coracle and still have the same issue.. I'll try again though, thanks. npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi wow i am retard let me try again... When I join a new #relay, does all my activity automatically get saved to that new relay? Or do I need to do something to get it all saved? npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi When I join a new #relay do all my activity automatically get saved to that new relay to do I need to do something? npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi i agree npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi 🫂 npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi will this solve my issue? I click follow on someones profile and when I check back later my follow did not register on any of the relays I am connected to including my own private relay... npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi not to worry, much <3 npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi gm, #twitter sucks and #elon is a turd https://www.youtube.com/watch?v=du32kWZm8Rg npub1w7kd69efpa04r95e7sm3q3xnkdk9y7kk9lgluqhhd5x4w3rhg90qny9cyh B33TCxAi I did not realize how important this was until half way into writing this post. Get. Popcorn. #lightningnetwork #zaps #btc #bitcoin #rehypothecation #plebs Could be relevant to you and your business if you have not thought about this yet @npub1uyz…8632 I will be discussing the topic of a future higher fee environment where it becomes uneconomical for the poorer pleebs to transact on the base chain and how they can avoid getting fudged by the future "regulated" (lol) BTC banking system. The poorer pleebs will end up using custodian services to "use #bitcoin" since it is uneconomical for them to transact on the mainchain, I'm talking about those that live paycheck to paycheck and have nothing in reserve. The custodian/bank will have a "layer 2" BTC ledger to keep record of which pleeb holds how much BTC, just like banks do. I see 2 options playing out (please bear with me here): Option 1) The custodian could operate like a bank in the sense that they just mark down on there own data base who owns what amount of BTC. Therefore, the poor pleebs using the custodian/bank service are not using main chain (bitcoin layer 1) to provide security and settlement guarantees for their transactions. Most of the BTC is held in cold storage by the custodian/bank. Now lets say you have a pool of regulated custodians/banks utilizing a custom database system, they will all be able to communicate with each other. So if one depositor at one custodian sends money to another depositor at another custodian, then both custodians ledgers settle at the right figure of who owns what. Here is where the fuck3ry happens... All these custodians/banks could rehypothecate the BTC. Example, the depositors on aggregate hold 100,000 BTC, but the custodians/banks end up creating credit (AKA fake btc), so now the total BTC in existence is 500,000 BTC. If there is a fear of a bankrun, the pleebs won't try to withdraw to the main-chain because the fees would be quite high that it would make it uneconomical to do so. Therefore, a bankrun is prevented because the pleebs can't get out. They could move to another bank, but lets just say the whole network of banks will fail anyway. The poor pleebs are still trapped. NOW HOLD ON... The richer depositors can cause the bankruns as IT IS ECONOMICAL for them to withdraw to their own private wallet via the BTC mainchain. It would only take a handful of them to make the custodian/bank go bust (no mainchain BTC in reserves). You would be able to see on-chain that the custodian/bank had nothing left. The pleebs and the other folk who didn't get out are now furious. In summary, the regulated custodian/bank network use there own custom ledger system (layer 2) to keep track of who owns what. You can only transact at a low or no fee within this regulated system of banks. You can withdraw your BTC to your private wallet but the fee would be uneconomically high for the poor pleebs. If there is a fear of a bank run, ONLY THE RICH can get out first and the poor pleebs are screwed. Ahrggggggg. Option 2) Instead of the custodian/bank network using there own custom ledger (layer 2) to keep track of who owns what, they will use the lightning network (layer 2) to keep track of everything. This means that layer 2 BTC can flow outside of the regulated network of custodians/banks. I am assuming channels are setup to other nodes outside the regulated system. It's just game theory, if your bank can't pay xyz person or service because the bank does not have a channel setup then the depositor will avoid using that banks BTC service. If you are familiar with the lightning network, bitcoins layer 2, participants will need to lock up their BTC to transact on the layer 2. Therefore, each custodian/bank will need to lock up the BTC they have with another custodian. The beauty here is that the custodians don't need to setup a new ledger system, they can just use the lightning network which works. Like I mentioned before, these custodians/banks could still engage in rehypothecation (making fake btc), however, in this scenario the pleebs are MORE PROTECTED. HOW SO, YOU MAY ASK? Well, the lightning network is cheap to transact on. So if a pleeb smells danger then they can just send layer 2 BTC from one DIRTY custodian/bank and send it to any other wallet of their choice. They now have an option to move layer 2 BTC OUTSIDE OF THE BANKING SYSTEM. THE PLEEBS ARE SAFE! In summary, if the regulated custodian/bank network uses the lightning network, the poorer depositors who will find it uneconomical to transact on the main chain CAN ESCAPE the risky custodian/bank system. The poor pleeb can send layer 2 BTC to any other wallet of their choice outside of the banking system. The lightning network in this scenario puts the poor pleeb on an equal footing as the rich people as they can both escape a risky custodian/bank when they want.