#MicroStrategy needs to help decentralize #mining if they want to spend their coins securely and sovereignly in the future. The lightning network won’t matter if nobody can open a channel with them.

This helps prevent plebs from gossiping spam to others, but eventually won’t the mining pools provide APIs for submitting transactions directly to them? A more viable path might be to have a fee structure that doesn’t scale linearly. Can we weight OP_RETURN higher? Scale it quadratically? View quoted note →

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If mining pool centralization gets worse then demand for layer 2 and 3 will grow exponentially.

The US and China regions control the vast majority of the hashrate. Two observations: 1. Wtf is the rest of the world waiting on? 2. The American culture is one of individuality and the Chinese is collectivism. The battle over hashrate will be the first time in history such competition can take place overtly and digitally. For the American model to continue it will require many individuals to agree to row in the same direction for a common cause. We have a common cause worth uniting for.

Europeans have 3 years to migrate to Bitcoin View quoted note →

I made a proposal for a global telecommunications service facilitated by #lightning and #ecash

Stacker News

Telecommunication services facilitated by lightning \ stacker news

Below is a first, very rough draft of a proposal for a global telecommunications service facilitated by the lightning network. I'm posting here to ...

It’s amazing to see so many applications and use cases competing for Bitcoin. We’ve got Nostr, Lightning, various eCash projects, Liquid, etc Each one will compete to bring sats into their network thus increasing the value of Bitcoin for everyone.

Are there any #Nostr clients with embedded LLMs for filtering content? Would be nice to have a client organize posts into channels where you can mute some, get notifications on others, etc

These spam attacks are basically just fund raisers for miners. Are there any incentives against this from the miners’ perspective? Are they inevitably going to promote these protocols? Is there anything we can do aside from education?

Is there any utility in creating lightning channels and all subsequent transactions without broadcasting to the network? Skip the mempool entirely? Yes there’s more risk but if you except some reasonable degree of trust in the parties (for example family members keeping tabs over many years) then you can save a lot on fees. Might work if you can expect that over the long term the economic relationship is balanced and there’s minimal expectation of dishonesty.

@calle any plans for a simple air gapped device to transfer eCash? Phones are susceptible to spyware. A nice option could be an NFC only device or maybe something like the cold card Q? Cc @DETERMINISTIC OPTIMISM 🌞

Miners are incentivized to drive their energy costs down as much as possible. The most viable ones will be net energy producers since their the marginal cost of energy to power their rigs is zero. Therefore you’ll see the mining industry merge with the global energy industry. As bigger players come into the scene and the cost of going to space drops dramatically, then it’s a matter of time before governments start mining in space as a matter of national security. They’d deploy mining rigs in orbit as they’ll have limitless and mostly unobstructed sunlight at all times and there’s limited physical access to the hardware. In the far distant future this could turn into an arms race to capture more solar energy as it’s far more abundant than any other source by far. Could bitcoin get us a Dyson Sphere?

Dyson sphere - Wikipedia

An input to the market clearing price of a good or service is the transaction cost. Different layers of bitcoin have different transaction costs. As you ascend the layers from on chain, to lightning, to eCash the fees come down by orders of magnitude. A cup of coffee can be priced at 3 sats if transaction costs are less than a sat. There’s no reason a car can’t cost 20,000 sats if purchased with eCash. Maybe having high fees on the base layer provides the right incentive and urgency for us to build viable ecosystems on Lightning and eCash protocols. Mass adoption can’t happen unless people can transact with bitcoin as easily as cash. I’m inspired by the community here and know we can make that a reality.

Google released a paper for a large scale distributed AI system called DiPaCo (https://arxiv.org/abs/2403.10616v1). it seems desirable for a globe spanning powerful AI to be decentralized and openly accessible. to prevent DDoS prompts could be collateralized with bitcoin. the nodes running the computations would be compensated with the bitcoin payments. a virtuous cycle in some ways. what would it take to marry a system like that with the lightning network?