Andrew M. Bailey's avatar
Andrew M. Bailey
resistancemoney@resistance.money
npub1yezu...awc7
I’m here to chew bubblegum and talk about bitcoin and I’m all out of bitcoin
Dude drops some gross antisemitism on Nostr. Relays drop him. But if you really want to tune in, you totally can — exactly as one would hope for with a protocol rather than a platform. Nostr is working as designed, in other words. Very cool.
Thinking about the first three rules of Bitcoin Uncensored: 1. You are an idiot 2. I am an idiot 3. Markets are efficient Pure wisdom. And the three hang together well -- better together than any one or two rules in isolation.
BlueWallet is sunsetting their custodial lightning product. Self-custody, without trusted managers, is the bitcoin way. So this move is for the best. Unless everyone just moves their sats to Wallet of Satoshi, that is — in which case custodian risk is amplified and centralized! This is something I worry about. The more usable and liquid Wallet of Satoshi is, the greater the risk it imposes on those who perhaps can least afford a rug pull. People for whom a million sats is a significant chunk of money, and who may not know what ‘custodial’ means. So: now is an excellent time to upgrade your mobile lightning setup. And if you’re an Uncle Jim type, to help those in your obit do the same. There are options: Breez, Phoenix, Muun. Personally, I’ll keep on using custodial lightning for amounts lower than 100-200k sats or so. Cashu is coming along nicely, for example, and has significant privacy guarantees. Anything beyond that threshhold goes on-chain, though.
Nostr/bitcoin entanglement means that every misstep by Facebook or Twitter is a setup for new people to hop aboard the bitcoin ship. Social media refugees are looking for alternatives that don’t surveil or censor. Nostr welcomes them — and invites them into the bitcoin world too.
image On Presidents' Day, Americans celebrate the civic virtues of founding fathers like George Washington. There is another founding father who deserves celebration too: Satoshi Nakamoto. Like Washington, Satoshi walked away from power. And so bitcoin now roams free. The abstract above is from a new paper with #[0], to appear in "The Satoshi Papers" (pending review). It's going to be a cool and totally unique collection.