ShortFiat
Short Fiat

The lightning network of bitcoin reserve is decentralised, has no single controlling entity and it can't be stopped.
It yields interest to its owners and it serves a purpose for everyone, granting them private instant virtually free payments.
#nevent1q…dtum

2025-03-13 01:01:11 GMT

The real strategic Bitcoin reserve is the decentralised network of multisig wallets that backup the lightning network.
They are the reserve that makes Bitcoin the fastest and most efficient medium of exchange the world has ever known.

2025-03-07 13:27:11 GMT

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Thanks, I have had both this morning!

2025-03-07 12:55:31 GMT

GM Nostr

2025-03-05 13:46:50 GMT

GM Nostr

2025-03-03 11:44:29 GMT

GM Nostr
I have tried navigating without the help of my smart phone recently.
It is really surprising to notice how much my skills have atrophied in the 15 years since I've had Google maps!

2025-03-01 15:40:10 GMT

GM Nostr
I have never seen international peace negotiations published on TV before?
The media are milking this one for everything they can get.
No doubt times are hard now that USAID has been found out 🤔

2025-02-25 13:46:47 GMT

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The people that sell drugs, guns, sex changes and environmental research have been most effective with their advertising. They have engineered the belief system on a mass basis. They made people believe in the lies of COVID, war with Russia, a man can become woman and 'we are all doomed because we use technology'

2025-02-25 13:01:26 GMT

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We are on the verge of creating a decentralised affiliate link.
Without a native internet payment system that could handle micropayments efficiently, platforms became necessary intermediaries for monetizing click-through links.
The traditional financial system simply wasn't designed for the internet. Consider what happens with a fiat click-through link:
A user clicks an affiliate link
The platform tracks this action through cookies or tracking parameters
If a purchase happens, the platform records this conversion
At the end of a payment period (often 30-90 days), the platform calculates commissions
The platform then initiates a bank transfer or payment to the affiliate
This payment typically requires minimums (often $50-100) to be economical
The whole process involves contracts, accounting departments, and trust in the platform
This cumbersome process created enormous friction that made micropayments impossible and required trusted intermediaries to manage the payment flow. Platforms were the only practical solution because fiat payment infrastructure couldn't handle the speed, volume, or small amounts the internet required.
Bitcoin's Lightning Network fundamentally changes this equation by allowing:
Instant settlement without waiting periods
No minimum payment thresholds (even 1 satoshi is viable)
Programmable money that automatically splits payments
Direct peer-to-peer transactions without intermediaries
Verification without trust in a central authority
This creates the possibility for a web of direct value exchange that wasn't technically possible before. What seemed like a natural evolution toward platform dominance was actually a technical limitation of legacy financial systems that Bitcoin has now solved.

2025-02-24 17:57:39 GMT

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2025-02-24 17:56:51 GMT

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2025-02-24 13:37:23 GMT

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The Bitcoin Magazine article really doesn’t highlight the fact that almost of the 25 years since Szabo wrote, there has been no technical solution to the micropayments problem. Transactions costs were high and money was centralised for much of that time. Bitcoin solved the centralisation problem, but it still had high transactions costs for most of the 16 years of it’s existence. Now that we have a fast an cheap decentralised payment system we can really start to find ways to deal with the human problems that Szabo identified in his original 1999 article.
Nick Szabo's 1999 paper on mental transaction costs remains a foundational text in understanding the challenges of micropayments. However, the emergence of Bitcoin's Lightning Network combined with decentralized trust networks fundamentally changes the dynamics he described. While his insights about cognitive burdens shaped thinking about micropayments for decades, new tools and models require us to update this framework.
Lightning doesn’t just enable low fee transactions, it also enables payment splits that can be used to pay referral fees. Much of the internet works through click throughs and often those that host an affiliate link are paid a percentage of any sale that occurs following the referral. However the referral payment process is managed centrally by intermediary companies that take 30-40% of the payment for themselves. They usually take 30-90 days to make they payment and sometimes it never gets paid at all. Lightning payment splits are decentralised, instant and virtually free of transaction costs.
Nostr is a decentralised communication protocol and apps built within that ecosystem enable content to be shared between people. Over time users can build a web of trust by choosing to follow people that they appreciate the work of. Lightning payments are implemented into nostr so that users zap each other rewards for content that they appreciate.
Together Nostr and Lightning can enable a new profession, the human curator. People get paid for referring content if they convince other people to buy it. They have to work hard and expend time and energy finding good content to recommend. In order to build a reputation and have people trust their recommendations, they have to only deliver content that is good value. If they recommend things that are not good value, just in order to earn their fees, then people will unfollow or even mute them. This will reduce their web of trust score that is visible to anyone that is considering them as a part of their network in the future.
Where Szabo saw individual users facing countless micro-decisions, modern sovereign systems enable outsourcing much of this cognitive load to trusted curators. This fundamentally changes the mental transaction cost equation. Users can rely on curators with proven track records rather than evaluating each piece of content themselves. These curators stake their reputation and future earnings on recommendations, creating natural accountability. Good judgment creates compounding returns through stronger trust relationships, while poor recommendations carry natural economic penalties. This shifts the cognitive burden from constant micro-decisions to the more manageable task of cultivating relationships with reliable curators.
The system becomes self-reinforcing through powerful network effects. Successful curators gain influence through demonstrated reliability, while failed curators lose influence through poor recommendations. Content quality rises naturally through market forces as creators compete for curator attention. Trust relationships strengthen through successful transactions, creating sophisticated discovery mechanisms that reduce individual cognitive load while improving overall system quality.
Bitcoin's Lightning Network doesn't just solve technical payment challenges - it enables new economic relationships that transform how users think about transactions. Instant payments become more like access tokens than financial decisions. Revenue sharing aligns incentives between creators and curators, building sustainable economics around quality. Value flows directly between participants without platform extraction, creating more efficient markets for digital content.
While Szabo anticipated AI agents might help manage cognitive load, the emerging solution leverages human curation networks that prove more effective at surfacing quality and building trusted relationships. These networks build on natural human judgment, develop reputation through demonstrated reliability, and create sophisticated discovery mechanisms that strengthen through actual use. Rather than trying to automate away decision-making, they create human-scale systems for evaluating and sharing valuable content.
The key insight is that mental transaction costs don't need to be eliminated - they can be transformed through trust relationships that reduce individual cognitive load, market dynamics that surface quality naturally, aligned incentives that reward good curation, and network effects that strengthen the system over time. This suggests that while Szabo's analysis was brilliant for its time, modern sovereign digital systems require an updated framework that recognizes how cognitive burdens can be restructured rather than just minimized.
The combination of Lightning Network payments and decentralized trust networks creates possibilities that were unimaginable in 1999. This opens new opportunities for sustainable digital commerce while respecting rather than fighting against human psychology. By understanding how these new tools and models change the fundamental dynamics Szabo described, we can build better systems for digital value exchange that work with rather than against human nature. The revolution isn't in making decisions disappear - it's in creating networks of trust that make those decisions more manageable and meaningful.

2025-02-24 13:37:17 GMT

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2025-02-24 10:24:06 GMT

gm nostr

2025-02-19 16:41:07 GMT

Nostr gives you ownership of your own data
https://v.nostr.build/rbewvE4raCYv8M2A.mp4

2025-02-19 11:40:54 GMT

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Will do

2025-02-19 01:01:15 GMT

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That's great. What is your profession?

2025-02-18 22:21:43 GMT

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short fiat

2025-02-18 12:36:24 GMT

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no I think that this revelation could break the custody model for a generation.
It might even lead people to question how many other assets are being rehypothicated.
people that hold the paper are being driven by convenience, not greed.

2025-02-18 11:39:22 GMT

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the paper gold price collapses.
Physical gold goes through the roof

2025-02-18 11:01:25 GMT

milei and Trump and melania are doing there bit to destroy crypto.
bitcoin is the only digital scarcity

2025-02-17 18:20:08 GMT

What do you think?
https://v.nostr.build/KYkkGh9CijqAVMj8.mp4

2025-02-17 17:23:05 GMT

Zelensky admits to the fact that $100bn of US funding has gone missing. This is a surrender in all but name, as it is obvious that no more money will be forthcoming after that bombshell.
Trump tries to broker a peace deal.
Starmer says that, in the event of peace deal, he will put british troops on the ground. He really seems to want to be at war with Russia.
Starmer and the rest of the globalist anti-democratic, anti-human crowd seem to be intent on destroying western civilisation.

2025-02-15 20:42:17 GMT

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2025-02-15 20:41:34 GMT

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2025-01-26 22:06:01 GMT

Throughout history, the ability to own and control property has been intimately linked with literacy. In medieval times, when most people couldn't read or write, they were effectively excluded from property ownership - unable to read contracts or verify their rights. They had to rely on others to interpret and validate their property claims, creating a fundamental power imbalance where literacy itself became a tool of control. The spread of literacy democratized property ownership by enabling people to directly understand and engage with their property rights without intermediaries.
Today, we face a similar junction with digital property. Just as traditional literacy enables understanding of written contracts, cryptographic literacy enables true ownership in digital space. Without this new literacy, people remain dependent on platforms and institutions to mediate their digital rights, just as illiterate people once depended on others to interpret their contracts. The path to true digital property rights requires not just technological tools but widespread understanding of how to use them.

2025-01-25 18:11:10 GMT

The addiction machine isn't driven by malice but by personal profit. In the attention economy, user attention is the product being sold to advertisers. More user attention means more advertising revenue. More advertising revenue means higher stock prices. Higher stock prices mean larger bonuses for CEOs and executives, who can make tens or hundreds of millions of dollars annually through stock options and performance incentives. This creates a fundamental misalignment between executive enrichment and user wellbeing. Features that might help users maintain healthy boundaries or reduce compulsive usage directly conflict with executive compensation packages. The platforms are economically incentivized to make their services as addictive as possible because the personal wealth of those in charge depends on it. While shareholders may benefit, the primary driver is the enrichment of a small group of executives who make the decisions about how addictive these platforms become.

2025-01-02 21:50:11 GMT

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there was no private property on the internet before bitcoin.

2025-01-02 20:30:25 GMT

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Smart government!

2025-01-02 19:03:32 GMT

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bitcoin is the truth that we all share

2024-12-29 14:27:10 GMT

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Yes

2024-12-29 13:45:30 GMT

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check out our nostr app https://fanfares.io/about

2024-12-29 11:49:05 GMT

simply nostr
hits all the important points
#note1nw8…lte0

2024-12-28 17:27:49 GMT

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read Rothbard, Thomas sowell and saifedean amous

2024-12-28 17:15:41 GMT

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Schwab is trying to fix the world with communism. Musk is trying to fix it with capitalism

2024-12-28 16:40:58 GMT

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The fundamentals of nostr will win in the end.
X is fiat money

2024-12-09 12:52:20 GMT

Great podcast.
Bitcoin does open you eyes to all kinds of other things that can be fixed.
https://fountain.fm/episode/33lh3yy5yIbvuoGIFy3E
@npub1hgh…fyz2 👍
Where is Naku on Nostr?

2024-12-03 19:34:43 GMT

You don't own anything in the digital economy.
In a place where you have no property rights, you are a slave.
Bitcoin is the first step in the revolution that sets us all free.

2024-11-28 12:54:38 GMT

GM Nostr
it's getting hot in the south!

2024-11-26 02:11:10 GMT

Politics changes things in the short term.
Technology changes things in the long term.
Being the first to go through the industrial revolution enabled Great Britain to rule the world from a small rainy island.
Unstealable money transmitted on an uncensorable network gives freedom to every person on the planet.

2024-11-20 20:57:20 GMT

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They can add BTC to their balance sheet at one third the normal cost, because they can issue new shares to investors that don't understand the value of what they are buying.

2024-11-20 00:11:01 GMT

The market capitalisation of MSTR is now 3x the value of their bitcoin.
Who is buying this shitcoin?

2024-11-18 17:56:29 GMT

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Hey Maya, we are interested in getting involved in the Bitcoin Nostr event.
When are you thinking?

2024-11-06 13:51:48 GMT

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That is all acurate, but it worth noting that the mints are fractional reserve banks. They can print as many E cash tokens as they like.

2024-11-04 20:02:18 GMT

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Great that you are already a fan.
I just think that more people should see it.
We are likely heading for a carbon credit based cbdc. If people see through the propaganda, then it will never stick.

2024-11-04 19:53:01 GMT

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If you post a link to this note on your Twitter account and copy the link in here, then yes.
The objective is to get more distribution for the film amongst free speech crowd on Nostr, but also to get more people into Nostr and Bitcoin from outside😉

2024-11-04 12:28:59 GMT

500 sats zapped for reposting this film.
It is very important film that everyone should see.
Also, copy a link to repost on X or Facebook as a comment to this post and I will zap you another 500 sats
https://rumble.com/v4krzak-climate-the-movie-the-real-truth.html

2024-11-01 15:41:14 GMT

Please tag this to any podcasters that you know.
We will zap you with sats!
At FanFares.io, we are a small team of 4 people building a Nostr client. We are creating the ability for podcasters to put specific items of content behind Bitcoin lightning paywalls.
This can work well for premium content, of the type that might be put on Patreon or a Substack subscription.
Listeners can use Bitcoin lightning as a currency to buy an episode by using zaps on Nostr.
Payments for individual items of content, without the need to be doxxed makes it much easier to support a creator.

2024-10-30 19:35:13 GMT

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can someone repost it to his twitter. I deleted my account 4 months ago and I now feel less like a crack addict 😉

2024-10-30 15:51:52 GMT

Dominic Frisby hasn't made it to Nostr yet, but I recommend this short audio piece.
https://www.theflyingfrisby.com/p/hodl-gone-wild-meme-stock-mania-in?utm_source=podcast-email%2Csubstack&publication_id=741404&post_id=150905963&utm_campaign=email-play-on-substack&utm_medium=email&r=1o55r7&triedRedirect=true

2024-09-09 18:01:17 GMT

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The art of misdirection!

2024-09-02 15:14:26 GMT

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It does feel like changes are accelerating. That gives me motivations in both directions

2024-09-01 21:01:15 GMT

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If something is shorted, then there must necessarily be a long which is the other side of the contract. A short is a bet on the price going downwards and there must be someone on the other side of bet. It is enabled by a broker borrowing the asset from one of their customers (usually without them knowing it) and lending it to the person that wants to sell it in the market.
In order for it to be sold in the market someone has to be buying it. So the short sale means that there are two people that bought the same ETF, the one who bought it in the first place and has lent it to the short seller and the one who has bought it from the short seller. The fiat system allows them to both own the same ETF at the same time.
The short seller could be another retail punter, or they could be the brokerage themselves. By selling you an asset that they have borrowed from another customer, they get some interest free money to play with. They are exposed to the price going up, but they don't have to mark to market.
All of this is enabled by the digitisation of the stock exchange. In the days of paper certificates, people had legal title to their assets and they could hold the share certificate in their own custody. Now they have no choice, but to custody with a broker. As I said, every brokerage account owned by a retail investor does not own the shares. The shares are owned by a nominee company that holds the paper certificates. This structure enables unlimited re-hypothication of assets. They have been doing the same thing with gold for years. That is how there is a 200:1 ratio of paper gold to physical gold. The finanical system is sitting on an enormous short position on the gold price.

2024-09-01 17:21:15 GMT

The Bitcoin etf gives institutions the ability to short the bitcion price.
Every time a unit of the etf is shorted, a new unit is created that is available for sale.
An etf it's a derivative and institutions can create as many of them as they like, without necessarily increasing the issuance of the etf itself.
This is why net outflows from the etfs have been occurring since March 13th.
Fake supply can be created at the brokerage level. Nobody really owns the shares that they think they have in their brokerage account. The shares are owned by a nominee company. The customers have a derivative contract with the brokerage for the difference in price in Fiat money. The contract itself, f is in fact a debt obligation.
The contract is treated as colateral because the price moves in line with the equity that it pretends to be.
Does anyone remember collateralised debt obligations from 2008? That is what you are getting if you buy the bitcion etf.

2024-08-31 18:55:35 GMT

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https://media.tenor.com/9PSHzEKQ6FEAAAAC/clap-slow-clap.gif

2024-08-27 13:59:08 GMT

The government are in the process of trying to take control of the internet.
We are fighting them by building a new decentralised layer that they can't control.
#nostr

2024-08-10 17:35:50 GMT

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Asunción it's the plan b that Bitcoiners are looking for

2024-07-13 14:08:38 GMT

Donald Trump is a politician with conviction