Praveen Perera's avatar
Praveen Perera
praveen@covebitcoinwallet.com
npub1g0ep...z7dp
Building Cove, the simple but powerful Bitcoin mobile wallet
Redesigned the main wallet screen for cove,I think it’s much cleaner now. image
Why is bitcoin core taking so long to sync on RPI4 when the CPU usage is only 40%, and RAM is fine, and disk is not bottlenecked?
I don’t like foo,bar,baz in examples. Context appropriate names make it easier to understand.
Currently going through the gate er hype cycle on bitcoiners image
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.