Currently going through the gate er hype cycle on bitcoiners
Praveen Perera
praveen@covebitcoinwallet.com
npub1g0ep...z7dp
Building Cove, the simple but powerful Bitcoin mobile wallet
lol bitcoin core has mentally I’ll trannies that love spam. And saylor is the bad guy for not wanting to them get more money. ?
While funding for open source in the bitcoin ecosystem is important, too much funding from the wrong sources can actually bad.
1. It can disrupt market dynamics and incentives
When projects receive large amounts of outside funding, it can mess with the natural market signals that guide development.
Instead of being driven to work on features and improvements that users and the market demand, developers may be swayed by the priorities and judgment of the funding sources.
2. It can lead to centralized control
Significant funding often flows through centralized organizations that then choose how to allocate the money.
This gives those organizations outsized influence over the direction of the project.
In Bitcoin, this enables organizations like OpenSats, HRF and others to act as “kingmakers” in the development space.
3. No one spends other people’s money as carefully
When spending money that was simply donated rather than earned from real customers, there is less accountability and efficiency.
Like government spending, the incentives for careful capital allocation are lacking. If developers couldn’t monetize their own work directly, maybe that work isn’t as valuable as they believe.
4. It can foster an entitled “welfare” mentality
Relying on charity from others instead of finding ways to independently earn a living can create an unhealthy dynamic.
To be clear, open source funding isn’t bad per se.
Funding that comes from those who directly benefit from the work, or from developers investing in themselves, aligns incentives well.
But when it morphs into an expectation of charity from third parties to subsidize developers as a public good, it veers into “socialist” territory.
Open source is a sacred cow in Bitcoin that deserves more scrutiny. Funding can be good, but we should be wary of over-funding or funding from sources with misaligned incentives.
In the long run, the open source projects that deliver the most value will find ways to sustain themselves through the voluntary choices of their users, not through guilt-driven handouts.
We need more lightning and nostr products that’s impossible without it.
Like accountless APIs that do useful stuff. Maybe transcriptions without an account?
Reminder that LND (and therefore your umbrel node) uses Aezeed not BIP39.
Even though the words look the same 🤦♂️
Why can’t nostr be the coordinating lawyer that starts a simplex chat?
The possibilities for what could be built with #nostr really is endless.
Primal is real nice. It’s my new favorite client.
Is there any alternative implementations of the primal caching service yet? @primal
Thinking this through a bit more I'm seeing two possibilities.
1. Full torrent client + discovery. Will index and use nostr events to discover torrents. Will use nostr evens as a tracker to find and connect to new peers. Will handle downloading/uploading etc.
2. Nostr bridge, will act as a tracker following the existing protocol. But will get the information from nostr events. Existing clients will be able to connect to it as a normal tracker. Would still need a UI for discovery. (simpler) View quoted note →
Is anyone working on a torrent client where nostr relays are the trackers?
This guy sucks. Bitcoiners simping for statist that wants to disarm you.
View quoted note →
X (formerly Twitter)
Michael Tracey (@mtracey) on X
Of course RFK Jr. was neck-deep in all kinds of Russiagate conspiracy nonsense. Have any of his new cult followers bothered to actually research th...
I can’t add reactions to posts on Damus on iOS anymore.
I can however do it on macOS? 🤔
Anyone try out BlueSky? Is #[0] still using Nostr?
Damus is quite useable on MacOS #[0]
Starting over in Nostr. Deleted my first account. Whoops!