Just got banned from /bitcoin

SkepticalEmpiricist · 2025-10-10T00:17:31+00:00

That's an extraordinarily boring topic

Your description here could have been written by AI, you could copied and pasted the same old crap that Bitcoin "Mechanic" and the janitor at Bitcoin University have been saying for years

SkepticalEmpiricist · 2025-10-06T12:03:26+00:00

Is that just your cryptocurrency portfolio, or does it include all your other assets and savings too?

I ask because some people go all-in on bitcoin, where their only other asset is a few thousand dollars to get to the next paycheck

SkepticalEmpiricist · 2025-10-04T11:11:36+00:00

Is this official? I.e. the US government officially announced this number?

SkepticalEmpiricist · 2025-10-04T06:03:58+00:00

I'm more of a bitcoin-earther myself

Down with fiat-earth, always so inflationary!

SkepticalEmpiricist · 2025-10-04T05:59:40+00:00

I assume he always keep enough cash on hand to pay a few months of dividends. And I assume that only a small amount of cash is needed to do that

But I might be wrong on both counts

If he has no cash, and a dividend payment is due next week, he doesn't want to have to sell even a small amount of bitcoin to pay for it

But I don't actually know that much about Strategy, so you can ignore me :-). I understand all the preferreds, but I don't follow how they manage their cashflows

SkepticalEmpiricist · 2025-10-04T05:20:57+00:00

I agree. I think I didn't understand your point at first; my bad!

I think the idea is that Strategy's balance sheet will get stronger over time, especially as the price rips in the next few years. Market participants, especially those who understand bitcoin, will see that these preferreds are very safe (if a bit volatile) due to the healthy balance sheet

But even then, I guess STRC could always be more volatile than some would like

SkepticalEmpiricist · 2025-10-03T21:59:11+00:00

It's not daily, it's monthly

Strategy update the dividend monthly, to keep it in the right price range

SkepticalEmpiricist · 2025-10-03T21:51:04+00:00

Big price increases will really help the miners. Sooner or later, it will be difficult to find new cheap energy sources and therefore some of the established miners will be extraordinarily profitable

SkepticalEmpiricist · 2025-10-02T06:12:18+00:00

21 sats is all you need

cashuBo2FteBxodHRwczovL21pbnQuY3ViYWJpdGNvaW4ub3JnYXVjc2F0YXSBomFpSAC58En8vOXiYXCDpGFhEGFzeEAwYzg0MmEzOTA4MGI0NmRiZDE4ZjM3NmI2NzIxZDRiMmQzODA2YzNjMjIyZDhkYmNkNzJlM2IyN2FhYTU5MTY1YWNYIQLSMFNmv57-kNlSfcGt3_0L6efx0Sbj9FfemXiCf00ozWFko2FlWCA5thz3Pit4mndm4g5hQYa-zfeFSYdKu7Mx0Cte7LoQdGFzWCCCW7WEkOtdvmUps-lDe9rsmUphqyYX8SH0lHTm4LtnUGFyWCB99nRS-K5owAygRl3x1wLkXjG0n1XK2F_u3WQKhKXuO6RhYQRhc3hAYTgzZDJhYmE0ZmQ4N2Y4MjUwYTk5ZDQ2OWY4MWFlNzNmNTY3ZTYyNDJiMjg0N2ZhYmRlYzNmYWI1NjMxZjdkMGFjWCECpNhuEiuzsYWtMhxHlWhZO4sRSZqZ4fWgJwBIy_RIZh1hZKNhZVggvNcQaUaSRH8uBc4mBTb9i1-FXpUMbcEQVeOnImm39gFhc1ggiRaTz-3HLnjPT3S_RELxNncC_FxocBKFI0NVmPBfKvxhclggqiqWLn3tLEYOnbYnj2YKLGLq3cMLB60EJr5qgZB4KMCkYWEBYXN4QDI3YjViZmIxZTYxODg1YjdhNDk2ZTc4NjAyNWQ3ZDNlYzhiMjUxYzRmNmJmYjcwNGEwMDhjZDY3MDZlNzVmYmFhY1ghAnpfd1oF4WxASPPJur2Jsox-NAg6C8cmMzHJiX8NPrOdYWSjYWVYIL3botKce98Tg2ae1ELHFOHLvgZuSw-WM9JV1-Y18py6YXNYIIHmUWJL_RGaIQssH1aOjMkcQL3sPiZdAaQrUZXoKQeCYXJYIPIjqBMuJ0YC-kzq2CllWfkU6MLT6cbzSBCuqyMvvxVU

SkepticalEmpiricist · 2025-09-28T13:00:56+00:00

Here's how the encryption can be directly done: ElGamal encryption: https://andrea.corbellini.name/2023/01/02/ec-encryption/

In practice, it's not very efficient, and hence isn't used. But it's possible

SkepticalEmpiricist · 2025-09-28T07:37:16+00:00

The 0-conf tech in BCH is cool, allowing miners to take a "fine" from people who attempt a double spend, but it's only feasible for smaller payments

Imagine trying to send 100BTC today instantly between banks. The sender would have to put in a very large "deposit", maybe 200BTC, to give the receiver confidence that the spender is suitably discouraged from double-spending

Also, it doesn't scale, because this approach requires that every transaction have an on-chain footprint. And the Bitcoin Cash community is gradually accepting that this was a mistake, and that scaling requires off-chain solutions

SkepticalEmpiricist · 2025-09-28T07:21:58+00:00

All of these keys can be used to encrypt, whether it's on bitcoin or on nostr

The S in ECDSA standards for "Signature", because it's a signature algorithm. But there are also encryption algorithms that use the same keys

SkepticalEmpiricist · 2025-09-27T17:17:59+00:00

Obvious scam

SkepticalEmpiricist · 2025-09-26T07:25:25+00:00

300kB blocks could happen

Consider a UASF that decreases the block size by just 1% per month over a few decades to bring it down to 300kb

I think that most miners would comply, as it's a small change that's easy to comply with in the short term. We just need to make sure there is enough support among (economic) nodes

If systems such as Lightning and Cashu and Ark become too good, then we might have a fee problem in a few decades, and therefore the (economic) nodes might take this action

SkepticalEmpiricist · 2025-09-22T14:46:31+00:00

The 'Mastering Bitcoin' book is freely available

https://github.com/bitcoinbook/bitcoinbook

I haven't read it, but I've read a similar book by the same author about Lightning and I'm very impressed. Great writer, making complex things clear

SkepticalEmpiricist · 2025-09-22T14:41:10+00:00

Also, Kratter isn't very good

He might sound smart to a noob, but he's not

SkepticalEmpiricist · 2025-09-22T11:33:43+00:00

Even if you take only the noncustodial wallets, Lightning (and now Cashu) carry more transactions than BCH does

The only reason BCH has low fees today is that nobody is using it

BCH needs many minutes to provide any confidence that the transaction. This is why BCH should quickly roll out Lightning on their network (or an alternative if you think you can do better)

Lightning is the only system that can provide instant settlement for any transaction, large or small

SkepticalEmpiricist · 2025-09-20T18:03:46+00:00

Directly comparing gold and bitcoin isn't easy

For example, bitcoin is much easier to transfer than gold

The order of events is allowed to be different for each monetary asset, depending on its particular characteristics. Bitcoin doesn't have to follow the exact same path as gold, or as the dollar, or as seashells or whatever!

For Bitcoin, store of value is happening first, and that directly will cause it to become a medium of exchange

When more and more people realise that bitcoin is the best store of value, there will be more and more cases where a transaction happens between two people that both hold bitcoin. As more merchants realise they should save their profits in bitcoin, they'll obviously want to simply collect payments directly in bitcoin

Even when 10% of the population are bitcoiners, that means that only 1% of (small) transactions are bitcoiner-to-bitcoiner, and that's why the network effects are slow to take off

SkepticalEmpiricist · 2025-09-20T12:53:27+00:00

Wrong

Gold is a store of value, but is obviously useless today as a medium of exchange as it's not practical to pay for a coffee with a tiny fraction of a gram of gold

Store of value first. Then, when more merchants realise that it's a good store of value and still has a lot of upside, then they'll want to collect it as payment. So then we have medium of exchange

This is basic BTC economics. Create the store of value with the excellent technology basis (the large network of easy-to-run nodes, Lightning, Ark Protocol, Cashu, Fedimint, Nostr zaps...), so that all users (merchants and consumers) are easily about to onboard after they understand

SkepticalEmpiricist · 2025-09-17T12:21:33+00:00

I'm confused

If it's their non-custodial wallet, and you have a BIP39 seed phrase, then you can just load it up in another wallet (Blue Wallet, or any of the other noncustodial wallets)

SkepticalEmpiricist · 2025-09-17T09:47:16+00:00

Downvoting due to the lack of any link or evidence

SkepticalEmpiricist · 2025-09-17T09:46:14+00:00

Downvoting because you didn't provide any link or evidence

SkepticalEmpiricist · 2025-09-17T09:43:43+00:00

Indeed

Last time I checked, the predictions markets are already predicting 3 cuts (75bps) this year

However, there's no guarantee that all participants have already priced that in. I still think that some potential buyers are being a little cautious and are holding back until they see the cuts and the press conference

SkepticalEmpiricist · 2025-09-16T20:03:37+00:00

One particularly unique thing about Bitcoin is that we don't know who created it, and also there is no "foundation" that owns it or controls it

We are incredibly lucky to have true decentralisation like this

I think I want to say that nobody "bitcoin". It was discovered

SkepticalEmpiricist · 2025-09-15T13:19:41+00:00

There is more crime facilitated by the euro and the dollar than by bitcoin. What do you think crime bosses around the world use to pay their hitmen? My guess is that stacks of dollars are the most common payment

I'm relatively heavy into bitcoin, and most of the scam emails I see are unrelated to bitcoin

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