girevik

https://get.txoutset.info

@girevik_ on Twitter #Bitcoin

Public Key

npub1gcad7z2zd6qh6znx5us4u3wszmaw0zu5k6pmfktt40c65t5f5a5s3zlc75

NIP-05 Address

Profile Code

nprofile1qqsyvwklp9pxaqtapfn2wg27ghgpd7h83w2tdqa5m946hud296y6w6gpz3mhxue69uhhyetvv9ujuerpd46hxtnfduqs6amnwvaz7tmwdaejumr0dsnpff79

Publishing to

relay.damus.io

nos.lol

Author Public Key

npub1gcad7z2zd6qh6znx5us4u3wszmaw0zu5k6pmfktt40c65t5f5a5s3zlc75

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Last Notes

2023-07-01 23:19:01

Every time I try to go back to Twitter, Elon finds new creative ways of making the experience miserable.

2023-05-10 21:59:33

Without much fanfare, Tether has started reinvesting some of their profits/excess reserves into Bitcoin. How much have they acquired in Q1, you ask? Just around 52,670. https://nostr.build/i/e271e11aac0b0f6c47ea9c9b6b901a62302cc6f937e1a90479ed6d8e89dda8e5.jpg

2023-05-07 15:02:29

If there is any silver lining, #BRC20 completely killed ordinals by spamming them with pointless json messages and pricing out the monkey jpegs. The originals dot com website is completely unusable and doesn’t even load at the moment.

2023-05-07 14:58:58

Stop focusing on the fees, they are a temporary nuisance and there will be high fees in the future regardless.
The real issue is dumping of toxic waste on the blockchain and especially the UTXO set which may never get cleaned up.

2023-04-05 22:28:10

#[0] what was the biggest price swing of BTC on a single day in percent terms and when did it occur?

2023-03-23 16:10:27

Thanks for the dip, Fed! Now back to our regularly scheduled bull market.

2023-03-22 21:33:23

We would all love Balaji’s prediction to come true, but it is extremely unlikely. In fact, the BTC price has never previously increased 40X in a 90-day period. The closest it came was in June of 2011 with a 33X increase. This was during the wild days of MtGox hacks. In most recent bull markets we barely hit 4X-5X. https://txoutset.info/nostr/90day_multiple.jpg

2023-03-20 15:25:15

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They can help too

2023-03-20 15:19:47

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$2.72 * 331m people ~= 900 BTC * $1,000,000

2023-03-20 15:18:32

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(Obviously there are other sources of buying and selling, but this gives you some context)

2023-03-20 15:17:41

For BTC to hit $1,000,000 *and remain there sustainably*, every American needs to buy an average of $2.72 of BTC per day. This would cover all the newly mined coins.
After the next halving, the amount required becomes $1.36 per day.

2023-03-20 13:09:53

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It’s not a zero sum game. I can sell you 1 BTC for $1,000,000 today and the market cap will become $20T. But trillions of dollars did not actually go anywhere.

2023-03-20 12:26:55

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In reality, with a large enough amount of buyers and sellers there will be a great number of banks involved both getting withdrawals and deposits. At the end of the day, it will probably balance out.

2023-03-20 11:48:34

For every Bitcoin buyer, there is a Bitcoin seller. No amount of fiat actually leaves the banking system and buying BTC is not a bank run.

2023-03-18 12:48:06

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His net worth is $1.5 bn+, so this is the equivalent of an average Joe with $150k betting $100. Still risks potential damage to his reputation though.

2023-03-14 16:03:37

Have you started front-running the 4th halving yet? https://txoutset.info/nostr/mcmahon_halving4.jpg

2023-03-13 17:35:24

People always assume Bitcoin will moon during a financial crisis, but it doesn't make sense. People are going to need liquidity if their money is frozen or lost by banks and they lost their source of income. Even the most hardcore maximalist will need to sell some to pay for basic needs. The mooning happens in between crises, not during.

2023-03-12 12:06:35

I’m calling for a complete and total withdrawal of deposits from fiat banks until we can figure out what’s going on.

2023-03-11 15:38:22

Who actually bothers opening multiple accounts to stay under the $250k FDIC limit? Few understand this.

2023-03-11 14:33:55

Your family and your company should be keeping at least an emergency fund in BTC in case of a banking collapse.

2023-03-06 03:31:42

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Few understand this

2023-02-28 13:19:01

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A classic Bitcoin meme. Up there with I AM HODLING.

2023-02-28 11:39:58

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Appreciate this. Too easy to fall for “two wrong make a right” kind of thinking.

2023-02-27 14:43:13

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nostr.wine

2023-02-27 02:35:26

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At least it’s still standing and wasn’t replaced with a brutalist monstrosity.

2023-02-26 21:41:46

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Flip flopping on Bitcoin, dabbling in shitcoins, wasting his time with Twitter, etc. Should have just stayed in his lane and made cool spaceships.

2023-02-24 15:13:12

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Absolutely disgusting. We need decentralized GitHub with anon developers asap.

2023-02-23 21:50:54

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Which relays are they looking at? I suspect most sane people moved to paid only.

2023-02-22 19:03:45

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Wait till the IRS starts charging people capital gains tax on used cars that “went up in price”

2023-02-22 18:49:22

Bitcoin plebs:
- Work normal jobs while stacking sats
- Talk about Bitcoin over steak and beers
- Always humble
- Secretly rich
Crypto VCs:
- Never worked in any capacity that benefits civilization; earn money only by scamming others.
- Talk on Bloomberg to promote their scams
- “google my name bucko”
- Secretly poor

2023-02-22 18:39:10

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There are good criticisms of EVs, but this is one is not EV-specific.

2023-02-22 18:32:50

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Can confirm my gas-powered car has this.

2023-02-21 16:14:18

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Both seem to be back up now.

2023-02-21 14:50:06

What’s going on with eden.nostr.land and puravida.nostr.land? They’ve been down for me for over two days now.

2023-02-21 12:06:14

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It’s not at 0 yet

2023-02-20 21:10:05

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Is it still possible to join the beta?

2023-02-20 21:03:53

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I’m also not confident they actually went away. Might be just a slowdown due to the long weekend (US).

2023-02-20 17:41:49

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Some clients need an @. This should really be a built in feature in all clients though.

2023-02-20 13:57:18

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Flushed down the toilet? They continue living rent-free on our nodes.

2023-02-18 15:11:44

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Even if true, a nuclear disaster has much greater ecological, political and social implications. Affected regions don’t recover for generations, if ever.
Very different from people living slightly sorter lives due to pollution.

2023-02-18 14:56:35

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Sure, and then Fukushima happened, and in a country famous for its technology and engineering prowess. Humans are still too dumb and careless to play around with nuclear.

2023-02-18 14:39:54

Not a fan of nuclear power, sorry.
Ohio, Chernobyl, Fukushima, etc show how shitty fiat engineering can make a large swath of the country uninhabitable for decades.
Let’s revisit when we move to a Bitcoin standard.

2023-02-18 14:28:24

Very surprising that Bitcoin predates nostr by 10 years. In many ways, Bitcoin is solving a much harder problem.

2023-02-16 16:03:51

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This was posted to paid relays since I only use paid relays. Is there a way to tell which ones so the relay admins can be notified?

2023-02-12 20:02:27

There were always “inscriptions” in Bitcoin. The white paper PDF is a famous example. But these were Easter eggs planted for lulz and never meant to be used at an industrial scale.

2023-02-11 19:16:32

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RIP mastadon

2023-02-11 16:30:31

Global feed after removing free relays and adding the nostr.wine filter relay. Nice work #[0]
https://txoutset.info/nostr/school_of_athens.jpg

2023-02-10 23:12:27

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If you don’t believe me, check mempool.space or your own node.

2023-02-10 22:57:27

Imagine you’re sending money to your family in Central America and your transaction is evicted out of the mempool by 400kb monkey JPEGs.
This is the reality inscribers created.

2023-02-10 12:47:09

Great to see the strong immediate pushback from most Bitcoiners regarding ordinals.
Sadly there are still plenty of spooks or useful idiots who continue to push them.
“Jpegs, but on Bitcoin? WTF, I love NFTs now” 🤦🏻‍♂️

2023-02-10 01:41:17

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Most of them are inscriptions

2023-02-10 00:16:59

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Once the mempool reached 300mb, the lowest fee transactions start getting removed. And those are mostly inscriptions right now.
You can customize this setting on your node, but most people don’t.

2023-02-09 23:33:21

Mempool now getting close to 300Mb. Fairly soon inscriptions should start getting booted from most nodes running with default settings. 🔥

2023-02-09 15:07:14

Extremely grateful at least we still have the block size limit. Inscriptions show that demand for block space is infinite and miners will include anything that pays a fee above zero. This would have been so much worse with bigger blocks.

2023-02-09 13:55:29

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😂

2023-02-08 23:09:13

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Although it might backfire and they’ll start delaying transactions privately to miners to avoid sniping.

2023-02-08 23:01:26

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This is all part of Elon’s plan to get everyone on nostr

2023-02-08 17:39:03

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I guess they were trying to hide relays from users to make it more newb friendly, but it makes the global feed useless.

2023-02-08 17:25:02

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More of a Damus client wish list:
1) Ability to switch between multiple keys without logging out.
2) Filter global feed by specific relays only.

2023-02-08 17:22:30

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This is from how many users?

2023-02-08 17:16:13

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Love to see it 🍷

2023-02-08 13:48:47

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You can inscribe just the hash (to prevent rug pulls) and still have the timestamp. The content can then be stored elsewhere, it doesn’t need to be on chain.

2023-02-08 13:42:54

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Yes. The difference is with a nostr relay you can easily ban users who post content you don’t like and delete those messages.

2023-02-07 18:01:43

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Depends on the scale. Right now sanctioned addresses don’t generate enough fees to make a difference.
If shown enough disrespect the inscriptooors might back off and find another chain to spam.

2023-02-07 17:15:25

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It’s not just about money. A miner might not want to risk mining inscriptions with content that is illegal in their jurisdiction, even if it earns them a few extra bucks.

2023-02-07 16:59:41

Start disrespecting
https://semisol.dev/ordinals/

2023-02-07 13:23:29

There is no debate in the Bitcoin community about inscriptions.
The debate is between Bitcoiners and a bunch of chainfluid antima losers.

2023-02-06 19:32:46

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Based

2023-02-06 17:53:52

Andrew Poelstra lays out what we all suspected but didn’t want to admit. Tldr: the blockchain needs to store data and people will find other ways to do it if inscriptions are blocked. Possibly ways even more harmful.
So for now we’ll just need to put up with it and hope fees start rising soon.
https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2023-January/021372.html

2023-02-06 13:17:01

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Scaling is a technical issue that can be solved. The real concern is getting a critical mass of users to migrate - high quality clients and good UX are key here. Gotta keep the momentum going or we’ll end up with another Mastadon ghost town.

2023-02-06 12:10:59

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We will see. People don’t always act rationally. You can buy a fake diamond for $10 yet many still spend $10,000 on a real one. So they may actually ascribe more value to on chain NFTs because of the cost involved.

2023-02-06 11:58:14

What prevents someone from posting an identical inscription to one already made? If they search by hash to determine the “original”, what happens if you change one pixel?
Just one of the many reasons NFTs are a scam.

2023-02-06 11:42:04

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They see on chain NFTs as a major benefit. So only rising fees will fix this.

2023-02-05 22:27:56

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Not everyone needs to run a node, but there needs to be a large number of distributed nodes that are difficult to confiscate and shut down (i.e. not on AWS).
If the number of nodes is significantly reduced, it becomes possible to completely destroy Bitcoin by confiscating the few remaining ones from die hard users.

2023-02-05 20:51:16

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I think you need to do #[4]

2023-02-05 16:56:49

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Of course impersonators might still register a similar-looking domain and verify with that, if they’re determined enough. But it’s better than nothing.

2023-02-05 16:50:20

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I haven’t seen many impersonators yet, but surely they’ll appear. Ideally you can confirm someone’s npub in person, e.g. at a conference. But that’s not always practical and this is an OK stopgap measure.

2023-02-05 14:07:34

If you’re a well-known Bitcoiner, please #NIP5 verify yourself on nostr, ideally using your own domain. It takes about 10 minutes to do. Otherwise there is no way to tell you apart from impersonators.
Here is one of many guides https://nvk.org/n00b-nip5

2023-02-05 12:57:46

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https://txoutset.info/nostr/wait_its_all_china.jpg

2023-02-05 12:50:35

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Their comments section is always overrun by boomers. Muh gold and silver.

2023-02-05 12:46:26

Have been using python-nostr for my #[0]. Not bad so far, but a few issues:
1) Is it possible to log which relays connected and which had errors? Right now it’s hard to tell which one was down if you had like 10 of them added.
2) Is there a better way to wait for all relays to connect than sleeping? I find some end up connecting after I already sent the event.
Thanks #[1]

2023-02-05 12:31:05

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https://txoutset.info/nostr/wait_its_all_china.jpg

2023-02-05 11:35:53

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Mostly harmless spam for now. But only a matter of time till they are abused by griefers. With which will come pressure from authorities and ISPs to shut down nodes.

2023-02-05 00:08:40

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🍷

2023-02-04 20:05:24

How much did Elon pay for Twitter again? A bunch of open source devs with little funding created a service that is basically the same and in many ways better. Imagine if he invested even 1% of that money in funding nostr development and infrastructure.

2023-02-04 19:53:42

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note1lafw9z5x5ra3wx82dnc3nu65260nuydt0px7jcj5yvf94xslywjsqpjmev

2023-02-04 19:32:31

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#12 in Social Networking category. Not bad.

2023-02-04 19:22:37

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💪

2023-02-04 17:38:14

* checks global feed *
https://txoutset.info/nostr/wait_its_all_china.jpg

2023-02-04 16:12:07

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This is probably why there is a rush to create as many as possible now, while fees are low.

2023-02-04 15:22:39

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I tend to agree. Especially when you’re a parent it’s rare to have a long enough block of time to really sit down and focus on a book.

2023-02-04 15:08:16

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“matched 17 million crypto wallet holders with their Twitter accounts”
https://txoutset.info/nostr/doubt.png

2023-02-04 14:44:15

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Yeah, I signed up for some. But I think the pricing model could be more interesting than just a flat fee. It’s a good start though.

2023-02-04 14:29:55

Do nostr relays implement some sort of PoW when posting, to prevent spam? If not, they should. Either actual PoW that takes some compute time or a ideally small payment of sats per post.

2023-02-04 11:06:34

Still thinking about how simple nostr registration is: just generate a private/public key pair. But with this comes great responsibility: there is no password reset and if your key is lost/compromised, so is your account.

2023-02-03 21:14:34

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This is the first public release and is still rough around the edges.