Really enjoyed this discussion between @preston and @dread. The simple description bitcoin use for payments as:
On-chain = nation states
Lightning = business 2 business
E-cash = end user
is a great way to frame it
https://fountain.fm/episode/zrcm74mPiVW97kMNuIgt
This the first time I’ve heard Peter Schiff speak. I’ve seen his X posts but not much more than that. Loved this episode of WIM. @Robert Breedlove spoke eloquently and calmly (in most cases) and had a solid argument for each point. Peter seemed stuck on the ‘but it’s got no intrinsic value’ argument and couldn’t articulate his thinking beyond this statement. If fact he seems to think that only a physical object has any value. I wonder what he thinks of Facebook or Google? Is that also ‘digital nothing’?
His other argument was that he could transfer gold ownership digitally much faster than a bitcoin transaction (he also used the ‘slow BTC transaction time vs Visa/Mastercard). As @Lyn Alden so clearly pointed out these legacy high speed transactions are NOT final settlement. Peter said he could transfer gold ownership digitally to anyone, anywhere, anytime. But he does not seem to understand final settlement. Sure, he could send a digital certificate to transfer ownership, but the actual gold is still sitting in the vault where Peter put it. That has not magically moved to the new owners vault.
A really fantastic piece from the people at wedobitcoin.co.za. Great technology takes things from that’s ‘just how we do stuff’, to ‘oh my good goodness, I can’t believe no-one thought of this before’. Fax machines were around for a long time before they became mainstream. I mean, ‘the postal service works just fine’ why do I need a fax machine?’ Followed by ‘why email? The fax works just fine’. This is what lightning payments are. Following the simple steps in the article you can be ready to receive payments in the time it takes you to install an app and print out a QR code. Everyone should just play around with it for fun. Send a payment to your Dad for Fathers Days. He’ll get a kick out of it.
Amen brother. I recently took a domestic flight in the USA and was really reminded how impossibly stupid this is. I’m curious to know how many terrorists have been caught since 9/11 by TSA. It’s been over 20 years. View quoted note →
I remember before there were apps. People did the same thing with mobile phones - looking for new features and functions. Apps came along and no one cared about the phone anymore, as long as your 5 favorite apps worked. For me, that was when technology was replaced by community. View quoted note →
Excellent info from @preston Small and medium owner run businesses are getting a head start over corporate behemoths. There isn’t much time left for the little guys to stay in lead. View quoted note →
My favorite takeaway from this talk: ‘Information is surprise. If you flip a coin with heads on both sides, you get no information. It’s only when you don’t know what you will get, is it information.’
There’s life in the old girl yet. The new Home is up and running. The old raspi pi is now a 2nd @Umbrel ☂️ server for all the fun things I didn’t want on the Bitcoin node. The kids now have tons of backup space - no longer need iCloud 👍👍
I’ve tested this in my own business. It won’t be long before it’s the only payment businesses will accept. Final settlement and near-zero transaction fees. View quoted note →
Just looking back at pics of Nashville during the Bitcoin Conference. What a city! This was my first time there and it was better than I imagined it to be.
While human achievement can be passed on through the generations, human experience cannot. This is why we have better stuff as time goes on. But no one else can experience your first kiss, your first heartbreak, your first paycheck, for you. Remember that.
The new Umbrel Home is running. I moved over from my old Raspiberry Pi as I was running out of storage. The migration assistance is amazing. It probably took 2 clicks and 2hrs later the Home had taken over. @Umbrel ☂️ rocks. The Pi was great, now it’s moved onto a new life as a stand for my daughter’s Disney princess.