I was just walking down the street, coffee in hand, suddenly realizing how "normal" it all is already. Like most days, I went to a coffee shop that accepts lightning. Like most days, I paid directly with sats that someone zapped me here on nostr. Like most days, neither the merchant nor myself thought twice about it, or took a minute to marvel at what just happened.
So, allow me to do just that. Marvel at what just happened. While everyone is having a fantastically crazy time at #nostriga, uncountable people are using bitcoin in a myriad of ways. Some for savings, large and small; some for transactions, large and small; some for other stuff. Bitcoin is slowly but surely entering the world stage. Some commentators will tell you that this is good. Some commentators will tell you that this is bad. Whatever the case may be, it is unavoidable.
I see nostr under a similar light. As platform-based manipulation and censorship ramps up—which it inevitably will—the usage of nostr will ramp up too, and with it the usage of zaps and everything else that comes with it. And soon enough, buying a coffee (or breakfast, lunch, and dinner) with zap-based income will be normal. Just like it's "normal" to be an "influencer" today, or a "YouTuber" or whatnot... It's not everyone's cup of tea, but it's a normal thing. Anyone can do it.
Back to my coffee. I remember when I had the "oh my god, I can live on bitcoin here!!!" experience for the first time. It was in Bitcoin Jungle, a couple of months after the initiative was launched. I stayed there for 2 weeks or so, buying the necessities of daily life with sats outright. And it worked. Flawlessly. I had zero payment failures, and was exclusively using Zeus with my own node. It was incredible.
Why is this incredible, you ask? Shouldn't stuff just work? Yes, it should. But building out the tech and the infrastructure to make it all work is BLOODY HARD. I remember the first Lightning Conference in Berlin, in 2019. Everyone came, everyone had all their channels and wallets and everything prepared, and ~50% of payments failed. For... reasons.
Fast-forward to today: I go to one of the 100+ merchants in the city that accept bitcoin, a quick tap on the PoS device & QR code scan, boom, done. Is it always perfect? Of course not. Will it get better still? 100% it will. Very soon these merchants will have NFC-enabled devices, and the tap-to-pay experience that people are used to with cards & Apple pay will be normal for bitcoin payments too. If you are in Riga right now, you'll experience this first-hand thanks to Bolt cards and BTCPay Server. It's awesome, it's open-source, and it works. And it will get better still.
We are truly living in the best and weirdest timeline; a timeline where shitposting on the internet can buy you lunch and dinner; a timeline that spawns amazing technological movements like #nostr; a timeline that, every ~10 minutes, allows for a small miracle to happen. A timeline where "magic internet money" is a normal thing; a timeline that, thanks to the magic dust of cryptography, enables anyone to speak about anything, without having to ask for permission. I'm grateful.
Thank you, Satoshi. 🙏🧡
Replies (113)
Great times 🤙🔥
The bestest of times 🧡
🫂🧡
🫂
Love this Gigi
🧡
Incredible post. What a time to be alive 🫂
So much more. People have no idea! 😅
Grateful to have met you my friend 🙏🧡
"A rising number of bitcoiners are all in, forcing them to spend some of their bitcoin. If 100% of your inflow is in bitcoin (or: no inflow, 100% BTC balance), you will have to spend sats on food, shelter, and other necessities. No matter how much you don't want to." —Block 649,120 (2020-09-19)
dergigi.com
Flows - A thread on inflows, outflows, balance sheets, and how a circular orange future might resolve the points of contention in Bitcoin. | dergigi.com
A thread on inflows, outflows, balance sheets, and how a circular orange future might resolve the points of contention in Bitcoin.
George Gammon, Jeff Snider, and Brent Johnson in DISBELIEF
In which German city is BTC already that widely accepted? Not trying to 'dox' you or anything, just curious. I recently made my first real life purchase in BTC here in NL (2 pancakes and some drinks to go with them 😋😂) but had to actively look for a place that accepts BTC. Even contacted them before visiting, to double check whether they really did accept BTC. I guess BTC acceptance by Dutch pancake restaurants is not super high on the 'how to improve the world' list, but getting from 'store of value' to 'medium of exchange' (which I hope we will) still feels like quite a big step to me.
Not wanting to is a rejection of one component of Bitcoin that is absolutely necessary for its success (medium of exchange).
@Jeff Booth convinced me of this.
What a dream.
Onward.
Gigi
I was just walking down the street, coffee in hand, suddenly realizing how "normal" it all is already. Like most days, I went to a coffee shop that accepts lightning. Like most days, I paid directly with sats that someone zapped me here on nostr. Like most days, neither the merchant nor myself thought twice about it, or took a minute to marvel at what just happened.
So, allow me to do just that. Marvel at what just happened. While everyone is having a fantastically crazy time at #nostriga, uncountable people are using bitcoin in a myriad of ways. Some for savings, large and small; some for transactions, large and small; some for other stuff. Bitcoin is slowly but surely entering the world stage. Some commentators will tell you that this is good. Some commentators will tell you that this is bad. Whatever the case may be, it is unavoidable.
I see nostr under a similar light. As platform-based manipulation and censorship ramps up—which it inevitably will—the usage of nostr will ramp up too, and with it the usage of zaps and everything else that comes with it. And soon enough, buying a coffee (or breakfast, lunch, and dinner) with zap-based income will be normal. Just like it's "normal" to be an "influencer" today, or a "YouTuber" or whatnot... It's not everyone's cup of tea, but it's a normal thing. Anyone can do it.
Back to my coffee. I remember when I had the "oh my god, I can live on bitcoin here!!!" experience for the first time. It was in Bitcoin Jungle, a couple of months after the initiative was launched. I stayed there for 2 weeks or so, buying the necessities of daily life with sats outright. And it worked. Flawlessly. I had zero payment failures, and was exclusively using Zeus with my own node. It was incredible.
Why is this incredible, you ask? Shouldn't stuff just work? Yes, it should. But building out the tech and the infrastructure to make it all work is BLOODY HARD. I remember the first Lightning Conference in Berlin, in 2019. Everyone came, everyone had all their channels and wallets and everything prepared, and ~50% of payments failed. For... reasons.
Fast-forward to today: I go to one of the 100+ merchants in the city that accept bitcoin, a quick tap on the PoS device & QR code scan, boom, done. Is it always perfect? Of course not. Will it get better still? 100% it will. Very soon these merchants will have NFC-enabled devices, and the tap-to-pay experience that people are used to with cards & Apple pay will be normal for bitcoin payments too. If you are in Riga right now, you'll experience this first-hand thanks to Bolt cards and BTCPay Server. It's awesome, it's open-source, and it works. And it will get better still.
We are truly living in the best and weirdest timeline; a timeline where shitposting on the internet can buy you lunch and dinner; a timeline that spawns amazing technological movements like #nostr; a timeline that, every ~10 minutes, allows for a small miracle to happen. A timeline where "magic internet money" is a normal thing; a timeline that, thanks to the magic dust of cryptography, enables anyone to speak about anything, without having to ask for permission. I'm grateful.
Thank you, Satoshi. 🙏🧡
View quoted note →
Thank you, Satoshi. Thank you Gigi 🙏🫂💜 Let's move on.
When we were in NL past month we only saw one Fries-Shop at the coast that accepted Bitcoin. Not very common there yet. In Germany it’s even less widespread. Like almost nowhere you can pay with Bitcoin/Lightning.
I love this so much. Have Beautiful day.
Awesome what's the name of the shop? How much did you pay? Are prices stable? How does the business pay their suppliers?
Which is likely bigger than most will ever achieve 🤙
Yesterday we had our monthly einundzwanzig meetup. This time it was very special: for the first time in over two years we were able to pay with sats! When the first one of us asked if he could pay with bitcoin, the service lady was a little startled. She called in her boss to help her. After all, it's his business. After almost all of us paid with sats in turn, the ice was broken. She understood that it was no more difficult or time-consuming for her as a cashier than paying by card.
Why am I writing this to you?
If we want to live the bitcoin standard, we need more merchants who accept bitcoin. And we need more bitcoiners to pay with sats. It is neither difficult nor forbidden. It is the decision of each and every one of us.
This is the only way we can establish a circular economy.
Gigi
I was just walking down the street, coffee in hand, suddenly realizing how "normal" it all is already. Like most days, I went to a coffee shop that accepts lightning. Like most days, I paid directly with sats that someone zapped me here on nostr. Like most days, neither the merchant nor myself thought twice about it, or took a minute to marvel at what just happened.
So, allow me to do just that. Marvel at what just happened. While everyone is having a fantastically crazy time at #nostriga, uncountable people are using bitcoin in a myriad of ways. Some for savings, large and small; some for transactions, large and small; some for other stuff. Bitcoin is slowly but surely entering the world stage. Some commentators will tell you that this is good. Some commentators will tell you that this is bad. Whatever the case may be, it is unavoidable.
I see nostr under a similar light. As platform-based manipulation and censorship ramps up—which it inevitably will—the usage of nostr will ramp up too, and with it the usage of zaps and everything else that comes with it. And soon enough, buying a coffee (or breakfast, lunch, and dinner) with zap-based income will be normal. Just like it's "normal" to be an "influencer" today, or a "YouTuber" or whatnot... It's not everyone's cup of tea, but it's a normal thing. Anyone can do it.
Back to my coffee. I remember when I had the "oh my god, I can live on bitcoin here!!!" experience for the first time. It was in Bitcoin Jungle, a couple of months after the initiative was launched. I stayed there for 2 weeks or so, buying the necessities of daily life with sats outright. And it worked. Flawlessly. I had zero payment failures, and was exclusively using Zeus with my own node. It was incredible.
Why is this incredible, you ask? Shouldn't stuff just work? Yes, it should. But building out the tech and the infrastructure to make it all work is BLOODY HARD. I remember the first Lightning Conference in Berlin, in 2019. Everyone came, everyone had all their channels and wallets and everything prepared, and ~50% of payments failed. For... reasons.
Fast-forward to today: I go to one of the 100+ merchants in the city that accept bitcoin, a quick tap on the PoS device & QR code scan, boom, done. Is it always perfect? Of course not. Will it get better still? 100% it will. Very soon these merchants will have NFC-enabled devices, and the tap-to-pay experience that people are used to with cards & Apple pay will be normal for bitcoin payments too. If you are in Riga right now, you'll experience this first-hand thanks to Bolt cards and BTCPay Server. It's awesome, it's open-source, and it works. And it will get better still.
We are truly living in the best and weirdest timeline; a timeline where shitposting on the internet can buy you lunch and dinner; a timeline that spawns amazing technological movements like #nostr; a timeline that, every ~10 minutes, allows for a small miracle to happen. A timeline where "magic internet money" is a normal thing; a timeline that, thanks to the magic dust of cryptography, enables anyone to speak about anything, without having to ask for permission. I'm grateful.
Thank you, Satoshi. 🙏🧡
View quoted note →
Yeah... Not here tho 🫠
This is blooming.
#BloomScrolling 🌺
Way to prove my point 😂🫶 ☕⚡
Gigi
I was just walking down the street, coffee in hand, suddenly realizing how "normal" it all is already. Like most days, I went to a coffee shop that accepts lightning. Like most days, I paid directly with sats that someone zapped me here on nostr. Like most days, neither the merchant nor myself thought twice about it, or took a minute to marvel at what just happened.
So, allow me to do just that. Marvel at what just happened. While everyone is having a fantastically crazy time at #nostriga, uncountable people are using bitcoin in a myriad of ways. Some for savings, large and small; some for transactions, large and small; some for other stuff. Bitcoin is slowly but surely entering the world stage. Some commentators will tell you that this is good. Some commentators will tell you that this is bad. Whatever the case may be, it is unavoidable.
I see nostr under a similar light. As platform-based manipulation and censorship ramps up—which it inevitably will—the usage of nostr will ramp up too, and with it the usage of zaps and everything else that comes with it. And soon enough, buying a coffee (or breakfast, lunch, and dinner) with zap-based income will be normal. Just like it's "normal" to be an "influencer" today, or a "YouTuber" or whatnot... It's not everyone's cup of tea, but it's a normal thing. Anyone can do it.
Back to my coffee. I remember when I had the "oh my god, I can live on bitcoin here!!!" experience for the first time. It was in Bitcoin Jungle, a couple of months after the initiative was launched. I stayed there for 2 weeks or so, buying the necessities of daily life with sats outright. And it worked. Flawlessly. I had zero payment failures, and was exclusively using Zeus with my own node. It was incredible.
Why is this incredible, you ask? Shouldn't stuff just work? Yes, it should. But building out the tech and the infrastructure to make it all work is BLOODY HARD. I remember the first Lightning Conference in Berlin, in 2019. Everyone came, everyone had all their channels and wallets and everything prepared, and ~50% of payments failed. For... reasons.
Fast-forward to today: I go to one of the 100+ merchants in the city that accept bitcoin, a quick tap on the PoS device & QR code scan, boom, done. Is it always perfect? Of course not. Will it get better still? 100% it will. Very soon these merchants will have NFC-enabled devices, and the tap-to-pay experience that people are used to with cards & Apple pay will be normal for bitcoin payments too. If you are in Riga right now, you'll experience this first-hand thanks to Bolt cards and BTCPay Server. It's awesome, it's open-source, and it works. And it will get better still.
We are truly living in the best and weirdest timeline; a timeline where shitposting on the internet can buy you lunch and dinner; a timeline that spawns amazing technological movements like #nostr; a timeline that, every ~10 minutes, allows for a small miracle to happen. A timeline where "magic internet money" is a normal thing; a timeline that, thanks to the magic dust of cryptography, enables anyone to speak about anything, without having to ask for permission. I'm grateful.
Thank you, Satoshi. 🙏🧡
View quoted note →
Visit Arnhem, truly a Bitcoin city with a lot if awareness and merchants accepting sats all around the city
💚🙏
What about SoU crowd?
System of Uncontrolled (striving towards such)
I read this hearing your voice, complete with spontaneous interjections of your infectious laugh. 🙏💛
An amazing time to be alive. 🧡
Glad to be here for it ⚡️
The pancake place I went to was near Arnhem, found via
Arnhem Bitcoinstad
Arnhem Bitcoinstad - Arnhem Bitcoin City - Arnheim Bitcoinstadt
Arnhem Bitcoinstad - Arnhem Bitcoin City - Arnheim Bitcoinstadt
I think you are overselling Arnhem a bit though haha. Have only tried one of the participating restaurants of course, but they told me the BTC payment tablet is almost never used. And the other participating vendors are not really what most people (or atleast I myself) would need to live everyday life using BTC. I'm not trying to be a negative nancy here btw, just looking for actual useful real life places where its accepted.
I'll let you know if I find more places, for the next time you're in NL 🤩
💙
Really beautiful post 😁, what a time to be alive! 🫡
🧡🧡🧡
Great post 💪
When you pay in sats like this, do you have to pay capital gains tax?
Most will be stuck paid in fait for awhile. I’m lucky to be earning more than I spend. Saving in bitcoin only. When fiat stack is empty or when paid in bitcoin only, I will spend Bitcoin on food and shelter + other very high-quality items.
Plan is to own BTC only or really, really good stuff.
I got enough zaps to buy myself a coffee, today!
A couple of pics of my Madeira experiences
Talk about waking up and smelling the coffee.
The #coffee and the #jungle will be here for you 🙏
#coffeechain
@Bitcoin JungleGM 🌅 and good coffee ☕
Be like GG 😀!
Gigi
I was just walking down the street, coffee in hand, suddenly realizing how "normal" it all is already. Like most days, I went to a coffee shop that accepts lightning. Like most days, I paid directly with sats that someone zapped me here on nostr. Like most days, neither the merchant nor myself thought twice about it, or took a minute to marvel at what just happened.
So, allow me to do just that. Marvel at what just happened. While everyone is having a fantastically crazy time at #nostriga, uncountable people are using bitcoin in a myriad of ways. Some for savings, large and small; some for transactions, large and small; some for other stuff. Bitcoin is slowly but surely entering the world stage. Some commentators will tell you that this is good. Some commentators will tell you that this is bad. Whatever the case may be, it is unavoidable.
I see nostr under a similar light. As platform-based manipulation and censorship ramps up—which it inevitably will—the usage of nostr will ramp up too, and with it the usage of zaps and everything else that comes with it. And soon enough, buying a coffee (or breakfast, lunch, and dinner) with zap-based income will be normal. Just like it's "normal" to be an "influencer" today, or a "YouTuber" or whatnot... It's not everyone's cup of tea, but it's a normal thing. Anyone can do it.
Back to my coffee. I remember when I had the "oh my god, I can live on bitcoin here!!!" experience for the first time. It was in Bitcoin Jungle, a couple of months after the initiative was launched. I stayed there for 2 weeks or so, buying the necessities of daily life with sats outright. And it worked. Flawlessly. I had zero payment failures, and was exclusively using Zeus with my own node. It was incredible.
Why is this incredible, you ask? Shouldn't stuff just work? Yes, it should. But building out the tech and the infrastructure to make it all work is BLOODY HARD. I remember the first Lightning Conference in Berlin, in 2019. Everyone came, everyone had all their channels and wallets and everything prepared, and ~50% of payments failed. For... reasons.
Fast-forward to today: I go to one of the 100+ merchants in the city that accept bitcoin, a quick tap on the PoS device & QR code scan, boom, done. Is it always perfect? Of course not. Will it get better still? 100% it will. Very soon these merchants will have NFC-enabled devices, and the tap-to-pay experience that people are used to with cards & Apple pay will be normal for bitcoin payments too. If you are in Riga right now, you'll experience this first-hand thanks to Bolt cards and BTCPay Server. It's awesome, it's open-source, and it works. And it will get better still.
We are truly living in the best and weirdest timeline; a timeline where shitposting on the internet can buy you lunch and dinner; a timeline that spawns amazing technological movements like #nostr; a timeline that, every ~10 minutes, allows for a small miracle to happen. A timeline where "magic internet money" is a normal thing; a timeline that, thanks to the magic dust of cryptography, enables anyone to speak about anything, without having to ask for permission. I'm grateful.
Thank you, Satoshi. 🙏🧡
View quoted note →
Special thanks to us node runners 😁 . Providing liquidity to the lightning cost like 5pct fiat in interest rates. At 500 Mio. liquidity this adds up to 25 Mio. USD per year. That's real dedication ❤️❤️❤️ love the lightning ⚡
take a vacation in Lugano 🙂
Hm looks like deflation discourages spending. Funny how you want to get a currency started by discouraging spending.
🫂
from a USA perspective, yes. You are asked if you sold any crypto, and if so, list out the cost basis.
my son paid someone to complete his summer school work in Bitcoin. so many uses .......
you are living in the future my friend🙏🏼
View quoted note →Discouraging spending is a feature, not a bug. We need a world of increasing efficiency that benefits everyone, where you spend less but receive more. Debt based FIAT systems are incompatible with this, ₿ enables it.
and how you track all these sat buys for tax : ( ?
I'm 99.9%ish all in. I keep between 3 and 5 Thousand of fiat for floating life and I only make cash.
If money sits in your wallet it serves no purpose whatsoever.
Actually, with ₿ it does. You don't understand yet, but you will.
I’ve got those little white moths in my wallet. I call them cuckbuck fairies.
I’m sure you could build a software that tracks all of that for you. If it hasn’t already been built before.
True
💚
My father was talking about a coffee I bought near b jungle last night. It was and remains awesome!
Can’t wait to setup pos term to play around with.
Bullish ⚡️
Beautiful!! ⚡ 💜 🫂
I was like “watch this”, not really knowing much about anything or my setup, and boom it worked. I said “how do you like those fees” (0)? 🫂✌️
Heck yes
Oh yes
Thanks for helping Arnhem Bitcoin City by paying with sats at the pancake restaurant. We need more people like you. Let me know what you are looking for, what kind of merchants to accept bitcoin?
Hi, I've got some exciting news for you,I Can teach you how to invest in stock mining turn your $200 into a whopping $5,500 with Bitcoin in just 4 hours! without interrupting your daily activities or sending money to anyone
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SMS: +1 (703) 879-8125
WhatsApp link below 👇 👇👇👇
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WhatsApp Messenger: More than 2 billion people
in over 180 countries use WhatsApp to stay in touch with friends and
family, any...
Hi, I've got some exciting news for you,I Can teach you how to invest in stock mining turn your $200 into a whopping $5,500 with Bitcoin in just 4 hours! without interrupting your daily activities or sending money to anyone
TEXT ME IF YOU ARE INTERESTED FOR MORE INFO
WHATSAPP NO:+1(332)252-4701
SMS: +1 (703) 879-8125
WhatsApp link below 👇 👇👇👇
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Share on WhatsApp
WhatsApp Messenger: More than 2 billion people
in over 180 countries use WhatsApp to stay in touch with friends and
family, any...
Thanks for paying with sats at that snackbar! If more people would follow your example, more merchants will accept bitcoin. Unfortunately most merchants that do accept bitcoin hardly get any Bitcoin payments.
This is everything. ⚡️
View quoted note →Hi, I've got some exciting news for you,I Can teach you how to invest in stock mining turn your $200 into a whopping $5,500 with Bitcoin in just 4 hours! without interrupting your daily activities or sending money to anyone
TEXT ME IF YOU ARE INTERESTED FOR MORE INFO
WHATSAPP NO:+1(332)252-4701
SMS: +1 (703) 879-8125
WhatsApp link below 👇 👇👇👇
WhatsApp.com
Share on WhatsApp
WhatsApp Messenger: More than 2 billion people
in over 180 countries use WhatsApp to stay in touch with friends and
family, any...
Hi, I've got some exciting news for you,I Can teach you how to invest in stock mining turn your $200 into a whopping $5,500 with Bitcoin in just 4 hours! without interrupting your daily activities or sending money to anyone
TEXT ME IF YOU ARE INTERESTED FOR MORE INFO
WHATSAPP NO:+1(332)252-4701
SMS: +1 (703) 879-8125
WhatsApp link below 👇 👇👇👇
WhatsApp.com
Share on WhatsApp
WhatsApp Messenger: More than 2 billion people
in over 180 countries use WhatsApp to stay in touch with friends and
family, any...
Been 100% since 2021 so feels normal now. (Even though I have to trade to fiat when spending)
Fiat maxis would love to spread the message "never spend your bitcoin" cause then they can trade dollar shitcoins on top of it forever. Only way to kill Fiat is to adopt medium of exchange.
It really makes you think about your spending before you do it and I like that.
Still very distant for Asia, but the build has to start somewhere. Looking forward to living in, or maybe even building the infrastructure here one day, who knows!
It's my first time here and this post just blew my mind.
View quoted note →
What are ⚡? And what did she just say about using them to buy coffee?! Where are our friends from the
@Bitcoin Jungle at? I could use an explainer. 🫶🏼♾️✌🏼
At least here in EU taxes mostly dont work like that. You pay a wealth tax on the total value of what you own at year end
So right! Have a nice day. ☺️🧡⚡️
BTC Coffee buying guide
I want to live in a future where anyone who wants to can make a living from shitposting 🌈
Thank YOU for founding the site and getting vendors going with BTC! Without that I still wouldnt have had my first real life purchase in BTC 😇 Next time I'm in Arnhem I'll check out the foodhall, seems like there are quite a lot of BTC acceptors over there.
About what I'm looking for: I don't buy a lot 'on the go' like the coffee in Gigis example. The main places that would need to start accepting BTC for me to be able to 'live in BTC' are my mortgage provider, supermarket (Picnic / AH / Jumbo etc), energy company, health insurance company, football club, various webshops such as Coolblue / Amazon / Bol.com and then the occasional 'on the go' expense like restaurants / bars / hairdresser.
Oh and pretty important: an easy & not too expensive way to get my employer to pay me in BTC rather than EUR, otherwise I'll be all out of BTC pretty quickly haha 😂
Lovely lovely Madeira! Enjoy!
I guess its a bit of a chicken & egg problem right. Merchants will (have to) accept BTC if thats what customers want to spend, customers will want to spend BTC if enough relevant merchants accept it. But hopefully over time more & more merchants ánd customers get sick of fiat & start accepting & spending 🤩 In any case kudos to you for the Bitcoin Arnhem initiative 👏
true! but gor light to exist, we need darkness; for magic to exist, we need belief.
Both, #light and #magic, are born from contrasts—one revealing the other, and both transforming the ordinary into something extra-ordinary.
#Bitcoin is the Religion.
Loved to read this, thanks!🙌🏼
nice read
“This is the worst it will ever be”
🙏
"…using Zeus with my own node."
That's the way! :)
View quoted note →Nice try 😂😅
Beautiful share
Yup! Just tagging
@npub14mge...jgm5 in here, so the Bitcoin Arnhem love goes to the right person 😇
Thank you Gigi for sharing your thoughts with us over the last years💜
You'll always be someone i look up to! Thanks for everything you've done for Bitcoin
I've been all in for about a year, I hate my outflows 😂
not true. borrow (short) fiat, use Bitcoin as collateral, never sell.
Bitcoiners are the best when it comes to #HFSP
@npub14mge...jgm5 how are we doing in bitcoincity Arnhem? 😉
The mindset of "never sell bitcoin" would also mean to discourage against and never ZAP someone on NOSTR. HODLing is great, but if we're not using bitcoin, what's the purpose?
How do you do that? With what do you pay back the loan? With a new one?
Depends on what you need to do. There are many good options. Firefish.io is Bitcoin-native, or you can open long future position, that is also a loan.
I don't pay back the loan. When interest rate is lower than inflation and when Bitcoin's upside potential is higher, it does not make sense, I just have an open credit line. I can pay it back any time, so no stress from the loan.
How to harness the value of Bitcoin without having to sell it (ebook, mini-course) – Hack Yourself!
How to harness the value of Bitcoin without having to sell it: A path to your orange citadel and a way to short fiat currencies (Paperback) – Hack Yourself!
Can you do it while keeping self-custody? I know people who tried this with Celsius. Obviously, it didn't end well. 🤷♀️
Thanks will check it out.
To various extents yes. Obviously there needs to be a way to liquidate the loan, but there are many good approaches. Firefish locks your collateral in 3-of3 a multisig with liquidator (see their protocol documentation, it is open). Liquidation oracle has pre signed transaction to the liquidator, so the oracle can't sell it or move your coins anywhere else.
Another approach is through futures, there are also many options, you control your risk appetite vs convenience. For example with 10101 you get a DLC channel. In both of these you see your coins in a UTXO, so you can verify at all times it's not moving (Celsius was gambling with user funds).
Another option that would work is taking the other side of stablesats channel. Not sure in anyone tried that.
Also note that the alternative is selling your sats, which is the ultimate loss of custody.
And we’ve barely begun
"where shitposting on the internet can buy one dinner" -- lol, that'll be the day!
schön gesagt ohhh du grünes Wesen 🧡
Weiter machen und dran bleiben 🔥🦉🌱
You wrote a great text appealing to our emotions.
Sats
Are
The
Standard
Wow 🤩 thank 🫵, Gigi 🧡
Great post Gigi!
Glory to Satoshi!
