codearchy

Awkard truth #2: Layer 2's won't solve the problem of high #Bitcoin transaction fees either. *Somebody* has to keep fuelling the miners with economically inefficient fees, to keep the network secure. But there's a name for businesses that dramatically raise their prices for the same offering, in a market full of battle-tested alternatives: bankrupt.

Awkward truth: A high-fee environment for #Bitcoin will be terrible for Bitcoin in the same way as a high-fee environment for anything else. If you (inevitably, in Bitcoin's case) significantly raise your prices (transaction fees) without also offering significantly more value in return, users will flock to #Monero and other low-fee tools that already are way faster, way cheaper, and offer unparalleled privacy and sovereignty. Will that persuade the maxis to change their minds? Trick question. Nobody cares.

I'll add: Decentralisation breaks the "Orient" part of the OODA loop as well. When, instead of a single server operator, you have hundreds, thousands - or even millions - which one do you target? #cypherpunk #decentralised View Article →

For self-hosting: If you don't use an #Umbrel or #Start9, what is your preferred (DIY?) alternative? #asknostr #selfhosted

As someone who primarily uses #Monero, I am slightly envious of all the #Bitcoin wallets, cold storage options, and integrations (eg. zaps) out there. And some projects (like #cashu) are doing good work for #privacy in Bitcoin. Still, those who chased fiat returns over decentralised, permissionless, digital cash ended up with neither. Monero seems unstoppable and inevitable. With every delisting, its value in fiat terms increases (ironically). Its utility as a fast, low-fee, private, self-custodied way to buy and sell actual goods and services is proven.