Thread - Nostr Hypermedia

I thought you were referring to the seedless is safer phrase. Now you are talking about BIP 177... ? Are the two related? I haven't done my homework but just in passing I think I am getting the BIP 177 is the proposal to replace sats with Bitcoin's? Or what is it bits? bitties? I personally don't have a strong attachment to either way. Intuitively though I am feeling having Bitcoin become an ubiquitous phrase used in the lexicon of people in their daily transacting might be better for Bitcoin... 🤷🏻‍♀️ And our daily transacting doesn't involve purchases over $100k+... But it is full of many small purchases that would be priced in satoshis. (Is that the argument anyways). Why are you so passionate about this? What's your take? Every corporation gets to have failed products, perhaps. And it makes sense that they will do their best to make it survive and hopefully thrive. But how are the two related?

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Replies (3)

Diyana 8 months ago

I am referring to Bitkey in the second part of my comment.

Lucas M 8 months ago

The two are related. First, seedless being safer is an outright lie. Imagine the security risks of not needing a seed phrase. And BIP177 is an attempt to rebrand satoshis by labeling 1 sat as 1 whole bitcoin. This literally goes against the whitepaper in the first place since their will only ever be 21 million, not 2.1 quadrillion bitcoins. Jack is trying to argue that people aren't smart enough to understand that their are 100 million sats in 1 whole bitcoin. Therefore, regarding this particular aspect, he is not educating the public on anything bitcoin-related, only spreading misinformation. Why I'm passionate... well, that's simple: I don't like the spreading of misinformation for corporate gain. Yep, they do. I was never arguing that. But, making the Bitkey display your sat balance as whole bitcoins will just confuse the public even more, not help them reach a level of better understanding.

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Lucas M 8 months ago

Also, why would you want Block to hold one of your keys? That doesn't sound safe, imo.