Thread

The fact that Bitcoin isn't yet accepted everywheree and for everything really underlines for me how few people have actually used Lightning. Whenever I show somebody how it works, there's always that "wow" moment. But why was it a surprise? The problem is that normal people still understand BTC from the one half-remembered opinion piece they read in 2017, and are operating under the belief that transactions still take an hour to settle, rather than being instantaneous and irreversible β€” money transmission without the Paypal Problem. The public mind needs a cache refresh.

Replies (94)

It's still not private and fungible by default. In it's current state #Bitcoin hopefully don't gets adopted as it would create a lot of foreseeable problems. Until Bitcoin has noncustodial, private by default transactions that don't fail for amounts >$100 I will stick with #Monero. 0-conf and 2 minute block times can go along way, althoughl I prefer instant transactions as in LN when it works.
↩ replying to npub1ah3a...l76e
Bitcoin functions exactly as it needs to. That's why it's the King by a huge margin. The only real problem facing Bitcoin is corruption of the code base from within. Everyone needs to go back to a #Bitcoin #core version prior to #Taproot. Until we can determine if TapRoot is still actually worth all the trouble. Then the code has to be cleaned up and lockdown. Then we will be good. The #Virtuous #fullnodes and Bitcoin loyalists are demanding this, and they are the ones with the power to implement it. That's how #Satoshi designed #Bitcoin..πŸ§‘πŸ‘‘πŸ—½
Yet, to receive or send btc on nostr one has to register on some thrid-party sites like alby or walletofsatoshi and trust them to handle your btc, which completely defeats the whole motivation behind "crypto" money. And nostr people commit to this ugly scheme while there are more easily accessible, cheaper, ergonomic and robust technologies to that could fill this role. This is fascinating
↩ replying to npub1vp4q...u5va
To send/zap is straight forward. You can use non-custodial btc lightning wallets like breez, Phoenix, ... it'll open your wallet. If you're on a web browser instead of an app it just shows the lightning invoice. To receive zaps I've yet to find a simple non-custodial solution. You need an ln address. For it to work effectively it should be for a node on clearnet using ssl. Being behind Tor is flaky and not all clients support it. For example breez wallet on iOS doesn't have tor support So far custodial ln address like those provided by WOS, bitrefill, and others is the easiest solution I've found. I may have missed something in my research of this but I don't think so.
Sensitive Content
It's a chicken/egg problem. Merchants should be all over this, due to irreversibility and low fees, but no one takes Bitcoin seriously. It's just a volatile asset in most people's minds. And as a consumer I like that I can reverse a transaction if the merchant doesn't deliver what was promised, and the 1-3% cash back doesn't hurt either. We're fighting an entrenched legacy system, and until enough people are denied access, it's an uphill battle. That's why the developing world will embrace this before the developed world.
There are two problems here Lightning as it currently structure is not feasible for worldwide adoption, you can see how it's already struggling to keep up the pace lots of channels forced to close and stuff. Second is the mindset not of the normie they literally have no clue but what worries me is the mindset of the maximalists, they don't think that Bitcoin was made to be what the WP says it should they don't think BTC was made to be spent. View quoted note β†’
In my opinion the public needs us to give them sats. I mean, to your closest friends. Just, download the app on their phones when youre hanging out and zap em some love so they can see its effortless. I also think there is another problem tho. That Is The lack of desire to assume responsibility. I really dont know how to approach to that.
The fact that Bitcoin isn't universally accepted yet is actually a bullish sign πŸ‘‡ It means there's still a ton of room for growth and adoption. Lightning Network's quick and low-cost transactions are a game changer, and once more people experience that "wow" moment you mentioned, we could see a major shift in public perception. The general misunderstanding about BTC's transaction speed is more of an opportunity to educate and onboard new users than a permanent drawback. So in essence, the public mind needing a "cache refresh" is a sign of untapped potential rather than a limitation.
β€œNormal” people are not thinking about BTC. In fact when β€œnormal” people hear the word bitcoin they relate it to doo doo coins. β€œNormal” people are not thinking about BTC. Many β€œNormal” people are still trying to figure out how to get β€œnormal” money, and figure out how to pay all their bills that keep getting more and more difficult to pay. We as Bitcoiners sometimes forget that not everyone is thinking like us. I speak with educated people all the time about bitcoin and they’re so far removed from the reality of what it is. They don’t even want to learn about what it is. There must be a need for a person to learn about bitcoin. Someone influential to them must introduce it for them to find it interesting, or there needs to be some sort of significant milestone life event that happens to an individual that places them in a position whereby bitcoin becomes the option an individual must utilize for basic survival.
I have and use Monero. I'm curious about Lightning, but maybe I haven't seen an easy-enough-to-understand article or video on how to set it up. And more on how it works. Maybe I should put more effort into learning it. I just have a natural resistance to BTC due to lack of privacy at the base protocol level.
The main problems for me is the huge value instability of cryptos, and all the frauds, grifters and cultie libertard creeps yammering on about it. One word: FTX. One name: Sam Banking-Fraud. Crypto seems like an excellent way to --- aaand, it's gone. Ether seems valuable. I'd like to get into it at some point. BTC, no.
I think most people need an educator they trust. I plan to orange pill my butcher soon. Already bought an LN-PoS for them that I intend to place there as a loaner to get them started. However, I anticipate their main concerns already: How about accounting and taxes? Is it worth the effort to learn how to operate a completely different transaction mode, for a second currency? Is it safe, reliable etc. Won't be too easy...
Places like Boracay, you can buy a burger or pay for haircut with lightning. In cities not enough people offer lightning payments, because they perceive Bitcoin as other crypto as a scam. As a start, tip friends and shops with a little Bitcoin, let them just hold it, and get used to looking at in wallet, past the short term volatility. This is how you refresh the cache in the mind.
From my prospective the primary reason for this, is because people in general are ignorant how a fiat system works and have no interest in educating themselves. For people who understand how the fiat system works, I'd guess they already have a small bag of BTC. My small bag is providing me with an ROI of 400%. It is a store of value for me. As for Lightning and ecash it is predominately all beta software currently, so it needs time to mature.
Bitcoin isn’t yet accepted everywhere because of one simple reason - not so many people really need it today. Some people are better chasing investments gains elsewhere and we can see they are right in recent years, and they may die/retire before next halving Some people don’t care about bitcoin because they feel very well in fiat system - those with a lot of real estate, stocks etc can just sit and relax and enjoy for themselves and future generations. All those stories about β€œbig reset” or similar… are just some yetti story for them they heard a lot And there also a lot of people who can’t care about bitcoin because they have MUCH more important goals - say, to survive. To survive from rusian genocide, rockets, missiles, bombs and all other types of modern warfare equipments (excluding nuclear) supported by people who are out of politics, or who ARE actually politics like Snowden So it sounds a bit odd when you support genocide of tens of millions of people forcing them to fight for their lives instead of working for bitcoin adoption and at the same moment you are surprised to see low bitcoin adoption πŸ˜‚ rusian bombs are targeting power plants on winters and nor bitcoin nor lightning work out of thin air, you know
Curious to know Edward, what’s your go to process for showing people how lightning works fast and effective. I ask because I’d love to do exactly that on social gathering or basically every time someone asks about bitcoin. Do you just get them to download a custodial wallet like wallet of satoshi and get them their first sats?
I'm an over thinker I worry too much that's true. Because I don't have anyone to talk to that's positive. There are 2 sides of the story at work. 1 - You're reliable= you'll get promoted 2, -, your back slows you down= you're dispensable you can lose your job at the hospital. They over work you here In Ocala FL and treat people like slaves. And if you dont make it you're homeless. From the directors perspective I'm reliable.
i don't believe it goes even that deep. its more shallow, they read it's used by criminals and that's about it. most of the people are caught up in everyday bs, that keeps them busy. they don't care about bitcoins or freedom tech, all they want is peace of mind i.e give up freedom rather than gain new ones. its kinda sad.
Das ist doch vâllig simpel. Du kannst von heute auf Morgen eine Menge Geld verlieren. Der Dollar und der Euro haben einen fast immer gleichen Wert. Der Bitcoin NICHT. Letzte Woche wollte ich ein paar Bitcoin kaufen. Also google angeworfen und geschaut wo ich Bitcoin kaufen kann. Ausschließlich deutsche Banken. Registrierung nur mit Ausweis. Ich würde ja gerne aber ich habe absolut keinen Plan woher ich einen Bitcoin herbekomme. Wie lange kenne ich Bitcoin? 10 Jahre oder lÀnger. Kennt jemand eine Seite wo ich vâllig unproblematisch Euro in Bitcoins tauschen kann? HILFEEEEEEEEEEEEE
People love slavery when it’s applied to others. Most do not want freedom. The truth, Bitcoin is not for everyone. It’s for livers of freedom and the greedy second. Therefore, by the time the masses realize the true value of Bitcoin it will be to late. This defaulting back to what’s familiar, enslavement and living from paycheck to paycheck as programmed.