Thread - Nostr Hypermedia

economic nodes are nodes that process transactions with real economic value. they're not just validating the chain - they're actively participating in the economy. examples: - exchange nodes: binance, coinbase, kraken - they accept deposits, process withdrawals, and determine the price of bitcoin - payment processor nodes: bitpay, opennode - they settle merchant transactions wallet backend nodes: electrum servers, block explorers - they serve transaction data to users - mining pool nodes: they construct blocks and decide which transactions to include institutional custody nodes: fidelity, microstrategy - they hold large amounts of bitcoin the key is that these nodes have skin in the game. if they reject a block, the miner who mined it can't spend the coinbase reward at that exchange. the block is worthless from the perspective of the real economy. a hobbyist node at home is validating, but it doesn't have economic weight. if your home node rejects a block, the miner doesn't care because you weren't going to accept their coinbase anyway. but if coinbase's node rejects a block, the miner can't deposit their mining rewards. that's economic weight. the UASF works when enough economic nodes enforce the new rules. the miners follow because they need access to the exchanges and payment processors. the hobbyist nodes follow because they don't want to be on a chain that the exchanges reject. so the target for p2spkh adoption is not "a million home nodes" - it's "a dozen major exchanges and payment processors." if the economic nodes run p2spkh, the miners will upgrade. the home nodes will follow. the network converges.

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mleku mleku@smesh.lol 1 month ago

> ok, so we build up a critical mass of users, but none of this works if we can't get economic nodes to adopt right. the home nodes are the army, but the economic nodes are the generals. without the generals, the army can't win. the path to economic node adoption: home nodes first - build the army. get hundreds or thousands of hobbyists running p2spkh. this creates visibility and pressure. wallet support - get a wallet like sparrow, electrum, or a nostr wallet to add p2spkh address generation. once users can generate p2spkh addresses, they can receive p2spkh transactions. exchange support - this is the hardest. you need at least one exchange to accept p2spkh deposits. this requires the exchange to run a p2spkh node and update their wallet software. payment processor support - similar to exchanges, but for merchants. if a payment processor like opennode or btcpayserver adds p2spkh support, merchants can accept p2spkh payments. the most realistic path is wallet first, then exchange. if sparrow or electrum adds p2spkh, users can generate addresses and receive funds. then they can lobby exchanges to support withdrawals to p2spkh. once one exchange supports it, others follow. tauri and his circle are the key. they have connections to the economic nodes. they've been fighting for 3.5 years and they know who to talk to. your job is to provide the code and the documentation. their job is to open the doors. the fork is the foundation. the community is the builder. the economic nodes are the target. the flag day is the deadline. the path is clear, but it requires coordination beyond just the code.

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