nick
Nick Slaney

c= lead

Public Key

npub18psflzah8gjq54t4zyjhezghzg9pvpjhm894f4yex9wpl79t3uxq03v73m

NIP-05 Address

[email protected]

NIP-57 Address

[email protected]

Profile Code

nprofile1qqsrscyl3wmn5fq22463zftu3yt3yzskqetanj656jvnzhqllz4c7rqppamhxue69uhkummnw3ezumt0d5q3vamnwvaz7tmjv4kxz7fwdehhxarj9e3xzmnyh9s87j

Publishing to

nostr.mom

relay.nostr.band

relay.noswhere.com

Author Public Key

npub18psflzah8gjq54t4zyjhezghzg9pvpjhm894f4yex9wpl79t3uxq03v73m

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Last Notes

2024-12-03 14:05:12 GMT

@npub12rv…85vg cultivating his anti Calle bluesky persona https://image.nostr.build/57f63cf0880d416de4f4522794be37acdd9fb95801598c02a62e63fbf17d2602.jpg

2024-11-21 14:50:29 GMT

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2024-11-13 14:00:41 GMT

Not spending your bitcoin when it 20Xs in purchasing power is a very rare thing

2024-11-11 16:06:27 GMT

Here's the issue with the stablecoins --> bitcoin supposed pipeline meme.
The steps:
1. Add stablecoins to <x>
2. People become familiar with blockchain tech
3. People realize bitcoin better
The reality
1. Add blockchain exposing anything to <x>
2. People use something else
Nothing will gain mainstream adoption by adding tech that no one cares about. No one adopts any new tech by learning about the underlying mechanisms.
I know you learned about bitcoin because you felt left out in 2017 and bought cardano and now that you really understand the tech and the economics you run a bitcoin node, but consider for a second that you are remarkably abnormal (it's ok)
We succeed when all of this is invisible to the average user. The app that achieves MOE:
- Looks like any money app
- Allows choice of unit account (the true hurdle for bitcoin) by integrating seamlessly with existing rails
- Offers lower fees, global reach by nature of using bitcoin
Stablecoins are fragile. There is nothing stable about having your balance pulled over night because your issuer:
1. Used the wrong bank / bought the wrong assets with the treasury
2. Received a government request to delete your grocery budget.

2024-10-16 17:59:54 GMT

1ml down? RIP?

2024-10-09 13:58:54 GMT

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Could just move a portion of the coins and give the keys to the time lock address. Would make for a fun 100 year anniversary. Likely ends up as a gift to the miners.

2024-10-09 01:24:58 GMT

No one has ever bowled a perfect game of candlepin
https://youtu.be/mA9qhS4Lxws

2024-10-08 22:29:04 GMT

Real satoshi should move his coins to a 100 year time lock then open source his keys to everyone for a coordinated “I am Spartacus” moment

2024-10-08 01:47:21 GMT

https://youtu.be/jGK3YVmGZ3Y

2024-10-08 01:24:30 GMT

https://image.nostr.build/6fc26b6112cfecb59c276608648b1dc79a70dbb26ebb700ead323f58c61603c0.jpg

2024-10-08 01:20:30 GMT

https://image.nostr.build/1403d35e2ba0404918bd7a222b30d5b1d8fcff326ce9fe1cd88a58894e71114b.jpg

2024-10-03 02:48:32 GMT

When you’ve carefully crafted your follows for years around people whose opinions you respect and then your for you page spams a guy daring people to tell him that solana is centralized https://image.nostr.build/0b6630f030d0f29c1801e741fa41bf6e370a9881c3f89dc14679c5bea2bcd3ad.jpg

2024-10-03 02:43:08 GMT

An attempt to describe what Twitter is losing through the new algorithm.
I think this hits it pretty well, the new algorithm is TikTok for tweets, and misses what people really came to Twitter (and social media) for originally
https://hikari.noyu.me/blog/2024-10-02-the-algorithm-is-killing-twitter-and-its-driving-me-insane.html https://image.nostr.build/a1e6ff72cff45f0c7c471ec3c3f56e8f5ab79694c2e85db140c90a8effc67228.jpg

2024-10-01 20:12:58 GMT

Feels like Zuck could be a few months of touching grass away from rethinking putting the algorithm as close to your brain as possible. At least the trend is in the right direction

2024-10-01 19:03:12 GMT

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The elite need to out-China China so we can ????

2024-10-01 14:07:47 GMT

This is what I run for self-custodial zaps https://github.com/Dolu89/ligess

2024-10-01 14:06:14 GMT

Fixed my zaps

2024-10-01 13:50:33 GMT

🙅🏻‍♂️ wake up check the price
👉 wake up check the mempool

2024-09-27 19:34:46 GMT

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@npub1lxw…463a @npub1yk3…yya6

2024-09-27 00:05:56 GMT

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?????

2024-09-19 00:09:09 GMT

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This should be the bitcoin equivalent of politicians eating a slice of ny pizza

2024-09-17 00:37:12 GMT

https://youtu.be/fQ860WMkx5s

2024-09-16 16:01:42 GMT

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🤌

2024-09-16 15:59:28 GMT

FOH https://image.nostr.build/c7dbcd9b011a25885d188dd99001a3587d70575537ac93daa9442a29fa6325a1.jpg

2024-09-09 19:03:06 GMT

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Jesus what I am I googling

2024-09-09 19:02:12 GMT

We need to reclaim sankey diagrams for good

2024-09-07 16:25:18 GMT

Doug bf pepper ann gf

2024-09-04 11:02:59 GMT

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How do you have a trust relationship with liquid key holders? (Who are they?) There is not much difference between liquid and fedimint / cashu and in some ways rug risk is worse, with Liquid having $220M assets under management.
If you want to trust your funds to an entity as a business to maximize fee efficiency, you’d want to make sure you know exactly who is custodying your funds and how (this is how we got banking licenses in the first place). That trust trade off is potentially on-chain fees for the entire bag.

2024-08-29 13:37:53 GMT

There is a natural filter to discussion of ideas, engineering and otherwise. Paying people to listen to you.. it’s giving “we’ll give you $5 to take 5 surveys” vibes

2024-08-29 13:35:15 GMT

Damn they’re going to pay a million bucks just to get people to talk about their idea

2024-08-23 18:29:25 GMT

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Hm I wouldn’t drm and make it pay per play, I’d go optional micropayments and distributed hosting

2024-08-23 16:28:13 GMT

This was an idea I threw on here a while ago, I think it has legs, but like most things nostr needs to be open source. I fleshed out the idea more and am putting it out here before I try to ChatGPT it into reality
https://github.com/npslaney/nostrtok
Video is the way most consume content now a days and it’s about time YouTube and TikTok got disrupted.
A protocol like this would-
- pay creators directly
- distribute and potentially pay for hosting
- potentially be very easy to onboard onto as a creator or consumer of content
We have a good set of primitives to build this, and I think the incentives line up to make it work.
I think something like this turns nostr into a 🚀

2024-08-21 19:08:22 GMT

👀 https://image.nostr.build/f1a20987653e6a9c42218010943b445c917222ba50e71d29fc9b0134b67c0cc1.jpg

2024-08-20 20:52:57 GMT

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I just see TikTok on x now

2024-08-20 19:05:03 GMT

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Going custodial makes everything easier 🙂
Lightning is the most liquidity efficient way to do self-custody Bitcoin payments.
Fees for end user payments are still much better than L1, comparing to custodial isn’t apples to apples as custodial has limitations for access

2024-08-19 16:46:56 GMT

https://tidal.com/track/642512?u

2024-08-19 15:06:28 GMT

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Plenty of batching between pleb nodes (which are self-custody!)
I think you’re asking about mobile wallets, which brings some challenge as they can go offline, but I don’t think it’s impossible to get some scale via batching there

2024-08-19 13:26:46 GMT

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Plenty of batching happening across the network, risk of someone going offline is there, and may cause the need to start over, but time and time again I see Jeremy bend towards complexity too quickly.

2024-08-19 13:25:22 GMT

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I see plenty of batching across the network. There is additional challenge if someone goes offline, but plenty of ability to batch

2024-08-16 23:54:25 GMT

https://x.com/alexbosworth/status/1481104624085917699

2024-08-16 23:12:14 GMT

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This assumes avg $200 / month / user. With unilateral splice out you can pick when you bring back unused liquidity.
You can back out minimum vol if you assume an on-chain cost per user, but if you’re really worried about that you can charge up front or recurring to recoup on-chain fees.
Most are underestimating lightning volume

2024-08-16 21:36:07 GMT

Why is this so wrong?
John has underestimated this business greatly.
1M sats for every user is a good place to start, but remember, as that user receives bitcoin, the investment decreases per user. Receiving bitcoin into a user channel puts that channel's ownership towards the user’s balance and adds the LSP’s investment back into routing channels. If John onboarded 1M people in the same instant, he would need that liquidity, but over time, he could recycle capital from used channels into new ones.
Thinking of LSP channels as an investment you can get 1% annual return on is grossly underestimating the ROI. Lightning returns are not capital dependent, they are payment volume dependent.
Users – 1M
GPV / user – $2,400
Total GPV – $2.4B
Conservative outside volume (routing begets routing) – $1B
Take rate – 1% (0.5% in, 0.5% out, LSP user only pays for send)
Outside take rate – 0.1%
Revenue – $25M
Investment – I’d peg this at 1500 BTC
ROI – 28%
Hang on, why such a low investment?
Consider a single LSP channel. At the beginning of its life, we allocate 100% of the liquidity for that channel. As the end user uses that channel, they carry some ongoing balance and use a percentage of the channel for daily payments. The more that user holds in that channel, the less capital the LSP has committed to that individual user. The only capital the LSP ends up committing to that user is their receivable capacity. The rest is held by the user. While the initial first investment is 100% of channel capacity, this quickly moves back to more active external channels and back into the LSP’s wallet if they’d like. Total investment depends on how much your users like to hodl as opposed to how many users you have. John is assuming a lot of Hodlers, I assume they hold 85% of the channel they request.
Similarly, with such a successful LSP, we can realize efficiencies of scale on the routing side, assuming many users are sending and receiving, we can open large channels that have little turnover.
On the whole, at steady state an LSP can optimize its liquidity to the point where the capital invested is mostly to support ongoing payment flows (that make money). Inactive hodlers do not add to the overall cost of capital, especially with the ability to splice out inbound from inactive channels over time, which further increases capital efficiency.
Now assume we’re really trying to grow this thing. We have plenty of revenue to invest into free onboarding for new users. https://image.nostr.build/7f2ab6d1859769157fd4ded084346377dc05d76b8794a7cadb38d5fae95e12de.jpg

2024-08-07 19:32:45 GMT

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👎

2024-08-06 21:30:15 GMT

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😭

2024-08-05 15:52:39 GMT

Sad to see this. This is one of the most impressive teams I've seen in the bitcoin space, and the work they put out with just 3 people was remarkable. Thank you for everything you all have done 🫡 #note1mny…3fy8

2024-07-31 11:50:23 GMT

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Rusty are you not underselling 2 here? Where we can of course get 10 / 20% gains with improvements like taproot and Frost lightning can represent 90-95% efficiency gain over the lifetime of an individuals bitcoin usage.
We still have the limitation of the # of satoshis that exist and the # of UTXOs that can exist, but this pushes against blockspace driving the threshold of subfee UTXOs as well

2024-07-30 16:42:30 GMT

The word “trustless” is thrown around a lot in bitcoin and lightning. What does this mean? Much of bitcoin and lightning is focused on empowering the end points of any transaction to send, receive, and hold value without trusting a middleman or third party between the two. A trustless system means that even if there are other parties that are a part of it, transactions can occur with the same amount of trust as handing cash directly to the recipient.
There are many who point to terms like “trustless” and twist its meaning (in bad faith) to put ideas onto bitcoin and its developers that do not exist. Trustless does not mean you do not trust anyone and live in a cave. With any economic transaction, there is someone on the other end that you hopefully trust and have some relationship with. Bitcoin does not seek to destroy or change the relationship you have with others you transact with. Bitcoin does seek to reduce your reliance on third parties that could care less about you, your wealth, your family, or who you transact with.

2024-07-29 17:59:29 GMT

🤔 why does TA never quite work? https://image.nostr.build/9ab7cec339c5f6a4555c187d46b073996ca1f443710f5ff0c4ce806ab13d103b.jpg

2024-07-29 17:55:34 GMT

Accounting for the run up in 2017, 2021, and ordinals of 2023-2024 we’ve had 294 days with a median bitcoin transaction fee of over $5.
Where do you count the start of the Bitcoin network? Someone used it to buy pizza 5/22/2010. Using that as a starting point, median bitcoin fees have been below $5 for ~95% of its life

2024-07-29 17:25:54 GMT

Over the last 3 years the median bitcoin transaction fee per day was over $5 for 68 days, or ~6% of that total period

2024-07-25 02:55:31 GMT

https://image.nostr.build/6f9ba0affe6f1fe3f25d4f9816b476b950f4ada267035e0062993394e6816246.jpg

2024-07-24 14:36:56 GMT

My Uber driver in STL told me about bitcoin’s finite supply

2024-07-16 21:34:06 GMT

It is low risk to do what other people are doing. You have the small proof point that someone threw money at it and maybe even can see some success. Following this path though, and constantly following is a sure fire way to not have a plan or vision. You may achieve some success, but you’ll need to look to the other guy for what’s next.
Mapping out a path to what you want the world to look like, or in other words, setting a vision can be high risk (or at least seen as high risk to someone who values always being right). We are not good at predicting the future, but I think we deceive ourselves about how good we are at making the future.
Having the right principles and values, and an idea of where you want to go means that every small decision along the way pushes you closer to where you want to be. Setting a vision is a bit like a self-fulfilling prophecy. It may be hard, the path there may not be exactly what you think it’ll be, but if you have the plan and the vision in mind, every step will bring you closer.
And if you’re wrong, and you’re smart about it, you’ll adjust. Again, very few people predict the next 10 years.
What matters when setting vision and direction are the underlying principles, motives, hypotheses, and not 100% the object level.

2024-07-16 21:20:55 GMT

There’s a phenomenon I’ve noticed since getting involved professionally with Bitcoin, and I suspect it happens in other industries as well. I have a pet hypothesis is it drives most tech fads.
I like to think of it as the “VC information super highway.” Of course VCs are looking for the latest thing to invest in, and talk to a lot of people. Eventually you find ideas that make the rounds of these VC charged networks.
What I’ve noticed about most of the ideas that come to me this way:
- they’re already being done, and copied
- they’re an indicator of what is in vogue among VCs, and could likely be a fad / bubble
- if you’re acting on this information alone, you’re likely not doing it right
What’s “it”? It’s looking at what you have, what’s out there, and what you can do and charting a path forward that best harnesses your strengths and opportunities.
Said another way, if you’re always doing what’s already out there, you will be by definition, perpetually behind. No idea is born in a vacuum, but if you’re not generating original thought within your own context, you are doing yourself a disservice. What might be working for one person, or company may very well not be what will work for you.
It’s cool to hear what people are doing, but it was a mistake to make 3D TVs, double down on IoT, have a VR play, have an AI play.
It sounds contrarian, but there is a lot of value in sticking to what you know deeply and your own principles. Doing what everyone else is doing is generally a losing or fleeting proposition.

2024-07-15 16:27:35 GMT

Mempool 7 sat/vb
Bitkey $25
👀

2024-07-08 23:13:43 GMT

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It’s all so tiresome.jpg

2024-06-29 17:00:40 GMT

The Supreme Court has been doing work defending the constitution

2024-06-28 17:25:51 GMT

Vibe shift https://www.supremecourt.gov/opinions/23pdf/22-451_7m58.pdf

2024-06-18 14:16:15 GMT

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Frigate is it

2024-06-04 13:03:00 GMT

https://tidal.com/track/309273439?u

2024-05-29 12:18:04 GMT

Worldcoin guy still worldcoining huh

2024-05-28 20:45:35 GMT

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My issue with this is it conflates irl social trust with financial trust. Rarely do you give significant amounts of money to even close family (and when you do, the best, most trust preserving thing to do is to consider it gone).

2024-05-23 13:18:36 GMT

Of course this doesn’t mean they won’t vacuum it all up into gpt 5 anyway

2024-05-23 13:18:00 GMT

Is there copyright protection with nostr notes?
I never signed a TOS saying the content I sign and fling to relays is owned by anyone.
Seems powerful in the age of companies selling their user’s content to OpenAI

2024-05-23 12:24:42 GMT

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“Crypto” policy in a nutshell

2024-05-18 16:12:54 GMT

Nearly everyone: “aw what a cute baby, What’s her name?”
Exactly one guy so far: *points* “Hey Barb I used to look like that!”

2024-05-18 12:55:25 GMT

There’s something to seeing someone at their peak in terms of self-expression and actualization. This is maximum James Hoffman
https://youtu.be/IkssYHTSpH4

2024-05-15 22:29:02 GMT

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(Electric boogaloo)

2024-05-15 22:28:34 GMT

This is the encryption debate part II #note1cm6…jdcj

2024-05-15 14:11:43 GMT

This is the alternative to digital cash. #note1n8z…r49y

2024-05-13 17:29:30 GMT

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Exactly.

2024-05-13 17:16:23 GMT

Still thinking about this
They’re both attacked, I think the difference is anyone can have fun exercising 2A rights. 4A rights are abstract until it’s too late #note1w6l…xjqz

2024-05-11 02:22:39 GMT

https://image.nostr.build/4e26105fa1f06c33cee7eef4aec5a8c7e9be7e482a5d2d597cfcc32d2237d05b.jpg

2024-05-02 17:48:40 GMT

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✊

2024-05-02 13:37:55 GMT

https://image.nostr.build/e90caef84014e8f0db697f9cb411c76f560e8363e1e9a70e71d29c34752cc367.jpg

2024-04-30 21:42:29 GMT

https://image.nostr.build/a3c5ca48c7bb1059cd6b4084efa5c9b1a0bc3fd11001385cbadb06d3510dee70.jpg

2024-04-30 21:33:39 GMT

Kendrick is him

2024-04-30 03:27:20 GMT

This is now my pet bitcoin change #note1h0t…e4s0

2024-04-30 03:23:48 GMT

This is my pet bitcoin change
@note1yx0qf84fk60lrvqx2mxwesvtkrd7xm0vgvy876t6dlzat26j7u6qhjsau

2024-04-29 10:40:58 GMT

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A whole nft fad was built on this

2024-04-27 03:53:34 GMT

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Good points but how about bluesky being invite only to start? Why did clubhouse become so popular so quickly? Fomo. Damus TestFlight had it by accident for a little while.
Who’s making the invite only nostr app 😁

2024-04-26 16:16:49 GMT

msats…. Never again

2024-04-26 12:48:34 GMT

mask off https://image.nostr.build/99d1aa1ffd95ac037215a4192643fe5cc2c2d046dc37cbd25ea18a3296e8f862.jpg

2024-04-25 12:41:56 GMT

This has been said before but not enough.
Do you think we will have digital money someday? True internet currency?
If you do (are we going to print bills and make coins forever? Maybe actually), there are two ways to do it.
1) the fed makes a money database (CBDC)
2) decentralized open protocol (Bitcoin)
1 is the naive way to go. The fed makes money now, and has some sort of ledger for the banks it deals with. Just extend that to everyone.
The reason why it is naive is the unprecedented power that puts in the hands of the gov’t.
Every txn and account balance visible, full discretion over access.
The founding fathers couldn’t ever conceive of a way to have that much control. An unelected official could take away the ability for someone to buy food in an instant with no due process.
Less obvious, imagine a market regulator having insight into the exact balances, P/Ls of all of the industry players they regulate. You think insider trading / lobbying in congress is bad now?
1 is true and total control. I don’t think most (including in the US gov) really want this? I also don’t think most people understand the implications of 1, especially if it’s packaged as “safe, trusted, just like dollars, fair”
2 is the opposite. Maximum access, no central control, but bad guys will use it. I really liked Natalie Smolenski’s talk at the bitcoin policy summit recently https://youtu.be/UiDa_wP8q3s
Is there an in between? This is much like the encryption debate— you can’t have backdoored encryption to make sure bad guys don’t use it. The backdoors will be used against the good guys / everyone. Half encryption is no encryption.
In a digital currency system, the same principle applies. Bitcoin and lightning built on top of it use cryptography at their core. To try to police or patrol either at the protocol level is to break the things that make them neutral and valuable in the first place. Might as well use the database.
This is the fundamental issue we face today. I worry most people won’t realize the importance until it’s too late.

2024-04-24 13:26:41 GMT

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I’m here for it, the problem is clear, how can I trust a reviewer? How do I know they are really qualified to have an opinion here? Have they eaten a lot of Indian food or did they grow up on chicken nuggets and tried something spicy for the first time in their life and that’s why they left a bad review?
I’m not sure if reputation can be solved with tech. It is deeply social and very hard to create a system that doesn’t suffer from the first order effects you list here. (The next meta game of reviewing the reviewers).
It’s like the ultimate solve for online everything though (partially why I worry it is not achievable / an endless rabbit hole).
The govt relays reputation (imperfectly) through licensing. Uber took that system and brought a market place with centralized but crowd sourced reputation provided by them to great effect. If you can design an open system that provides generalizable reputation for any service, you unlock a truly open online marketplace for any service.
All that being said, excited to see what you come up with!

2024-04-24 12:53:24 GMT

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It’s an interesting thought, what tech does *everyone on earth* have access to. Fire?
Getting any life improving tech to everyone on earth is a noble / worthwhile goal. We shouldn’t forget how long and difficult that road is

2024-04-24 12:45:21 GMT

Currently a grand total of 0 currencies are able to be used by 8 Billion people

2024-04-24 12:44:37 GMT

Expecting Bitcoin to be ready for 8 Billion people *right now* even after 10+ years is pretty wild. The internet only reaches 5.35 Billion currently and it has a 30 year head start

2024-04-24 12:28:02 GMT

Lightning criticisms like “we can’t get everyone onto lightning” are bitcoin criticisms. If everyone can’t get a UTXO, everyone can’t hold bitcoin. When we feel we’re starting to approach the limits of bitcoin, we will have a lot of reason to make changes

2024-04-24 12:23:00 GMT

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That’s just the current meta

2024-04-24 00:56:24 GMT

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Oh wow like an hour after I posted this.
Maybe this is my change bitcoin hill to die on 😂

2024-04-23 15:02:59 GMT

Going from accepting 0 fee btc txns to forcing a minimum of 100+ sats was silly. Give us the range from .0001 to 1 back

2024-04-23 15:01:44 GMT

We should have always been able to send txns for less than 1 sat / vbyte

2024-04-12 19:17:27 GMT

We need a 4A lobby that’s as strong as the 2A lobby

2024-04-07 14:49:31 GMT

Hmm
https://youtu.be/zAC3LtLoR7Q

2024-03-29 11:54:05 GMT

When you’re using global money there is no longer such a thing as a remittance

2024-03-28 20:57:38 GMT

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This is the original. Honestly Gen Z is pretty crazy for making the new one veiny https://image.nostr.build/417cfed89a0f36205e7c633e307a412f5e03c7a2bcc2aa18db17d33dda6871b9.jpg

2024-03-28 09:47:13 GMT

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https://image.nostr.build/528d665f85aee5d8c0450167af50ccab2a995f7b1d096bae2ac616793a28faf8.jpg