Craig on Bitcoin's avatar
Craig on Bitcoin
OnBitcoin@primal.net
npub1tjjv...44cz
Building On Bitcoin. Mining, Lightning, Nostr, Open source & survival strategies. Building 👉 BiTHELM & the Bitcoin Manitoba Meetup
Craig on Bitcoin's avatar
OnBitcoin 1 year ago
The next phase of Bitcoin? Circular Economies. This is where Bitcoin is used as the primary medium of exchange, store of value, and unit of account within a self-sustaining economic loop. Individuals, businesses, and organizations all use Bitcoin for transactions, reinvesting it back into the system rather than converting it to fiat. The goal is to create a closed or semi-closed ecosystem that reduces reliance on traditional financial infrastructure and promotes Bitcoin's adoption as a functional currency. Here’s how it typically works. Earning Bitcoin - People receive Bitcoin as payment for goods, services, or labor. For example, a freelancer might get paid in BTC for their work. Spending Bitcoin - Those same individuals or businesses then use Bitcoin to purchase goods or services from others within the ecosystem, like buying coffee from a café or web hosting from a host that accepts BTC. Reinvestment - Businesses accepting Bitcoin use it to pay suppliers, employees, or other expenses, keeping the BTC circulating rather than cashing out to fiat. Hodling as Savings - Excess Bitcoin might be held as a long-term store of value, leveraging its deflationary nature because of the fixed 21 million supply cap. Are you joining in next phase for Bitcoin?
Craig on Bitcoin's avatar
OnBitcoin 1 year ago
What's your favorite up and coming Nostr app?
Craig on Bitcoin's avatar
OnBitcoin 1 year ago
Where to find Nostr FAQ or support docs to support new users? Trying to help someone that has a black feed and other random issues.
Craig on Bitcoin's avatar
OnBitcoin 1 year ago
Let's dive into the world of Nostr, a protocol that revolutionizes social networking and online communication by eliminating dependency of centralized servers. Like Bitcoin is a money protocol where no one is in charge and it works. Nostr is a communication protocol where no one is in charge and it works. Join me on Monday, March 10th at the Bitcoin Manitoba meetup. image
Craig on Bitcoin's avatar
OnBitcoin 1 year ago
Good things come to those that work their ass off. image
Craig on Bitcoin's avatar
OnBitcoin 1 year ago
We don't need 100,000 Bitcoin copycats. We need one sound money and then infrastructure built on top of that. Everything in crypto is a scam. Prove me wrong.
Craig on Bitcoin's avatar
OnBitcoin 1 year ago
They ALL end in a rugpull. In crypto, YOU are the exit liquidity for every project. image
Craig on Bitcoin's avatar
OnBitcoin 1 year ago
These 11 things are more important than the price of Bitcoin. 1) Merchant Acceptance: The number of businesses accepting Bitcoin for payments can indicate its utility as a currency. 2) Institutional Adoption: When large institutions or companies hold Bitcoin on their balance sheets, it signifies mainstream acceptance. 3) Custody Solutions: Institutional-grade custody solutions that provide security for large Bitcoin holdings. 4) Hash Rate: A high hash rate indicates strong security for the Bitcoin network, making it harder for malicious actors to compromise it. 5) Node Distribution: The geographical and organizational diversity of nodes supports the decentralization of Bitcoin. 6) Regulatory Environment: Clear regulations can foster growth by providing a predictable environment for users and businesses. 7)Global Acceptance: How different countries regulate or view Bitcoin can significantly impact its global use. 8) Layer 2 Solutions: Developments like the Lightning Network aim to enhance Bitcoin's scalability and speed. 9) Consensus Updates: Improvements in consensus mechanisms or protocol upgrades can affect Bitcoin's functionality and efficiency. 10) Public Perception: How Bitcoin is viewed by the general public, influenced by media, can sway its adoption and investment. 11) Wallet Security: Advances in wallet technology and security practices to protect Bitcoin holdings. What else is more important than Bitcoin NGU?