unboxingelf

breaking: ethereum ceo advocates to change consensus rules again and further incentivize centralization.

download stable diffusion and generate weird images, forever.

no need and probably for the best!

The fed has successfully redefined the word “inflation” to mean “an increase in cost”, which conveniently leaves room to blame others for rising prices.

The original meaning of “inflation” was “an increase in currency supply”. Debasing the currency supply is why the dollar is worth less and everything costs more. It is the result of deficit spending.

Tools for me, but not thee.

I mean the lot that complains publicly often does not follow through.

I deleted my circa 2009 account earlier this year. It was fun while it lasted, just like MySpace.

> But I was on Twitter since 2007, and built a meaningful part of my career on it, and I won’t be posting at all, for the foreseeable future

Commit and delete your account then. Folks love to complain but rarely follow through.

Imagine you took out a loan for $1000 in 1980. In today’s dollars, the $1000 to repay is much less in relative terms than it was in 1980, because of inflation.

the fed literally prints it out of thin air.

fiat currency is a game of trust.

What about the hours when the sun doesn’t shine? Is energy storage at such a scale feasible?

Bitcoin tips are just another action on notes (tweets), along side likes and reposts.

Don’t like bitcoin? Cool, don’t click the button. That’s literally all there is to it.

That’s not true. There are methods for proving control of a key, both in the protocol and outside.

- Sharing keys in person

- Sharing keys via other channels like Twitter

- Via DNS using NIP-05

Ok, I assumed a validator providing blocks with unexpected transactions would trigger a penalty - guess not.

It certainly is for some.

You are correct - it allows consumers to know the message has not been tampered.

The downside of your trust model is permission. Facebook and Twitter may revoke your permission to use “your” identity at any time, for any reason.

Requiring ID verification for a rented online identity is a terrible trend imo. These companies are not to be trusted - they exploit users and inevitably sell your data or get breached.

You are implying there is a singular network. There are a collection of relays on the internet. Each relay has it’s own business rules and may or may not accept your events. Each client may support some type of events.

Explain to me how you trivially saturate this protocol. That’s like saying you can trivially saturate TCP/IP by broadcasting packets.

It removes trusting a 3rd party.

You generate a public/private key pair. When you want to send a message (tweet), you sign it with your private key and broadcast it to relay(s).

The messages contain your pubkey so others know who sent it. Your messages are signed so others know they came from you.

Afaik there is no key rollover story or recovery. I know it’s been discussed and I found this PR: https://github.com/nostr-protocol/nips/pull/637

KERI sounds interesting, I’ll read up on that. Maybe you can review that PR and share some insights?

The network is a collection of relays and relays are free to permit - or reject - what they want. You can’t saturate a protocol. You can saturate a given relay (server).

It’s uncharted in the protocol. The protocol has nothing to with crypto other than 1) it depends on cryptography and 2) there is an event type that cares about bitcoin lightning payment receipts.

It removes trusting a 3rd party.

They do not have to, but they risk being slashed if they add transactions that are not “correct” as per the network.

The link I provided shows this coercion via OFAC compliance.

You are correct on both points.

Sorry I’ll have ChatGPT write it next time.

Ethereum’s recent move to Proof of Stake undermines the their ability to be decentralized and permission-less. If a validator adds a blacklisted transaction, they will be slashed [0].

Ethereum had an unfair issuance. That means the founders kept a pool of coins for themselves and have unfair control of the network, furthered by PoS.

Ethereum is effectively a private tech company led by a CEO. They have a public roadmap.

Ultimately I think these fundamental properties of Ethereum make it inadequate as a permission-less money protocol. It works great for games and apps, but its foundations are susceptible to coercion and control - and you can’t build a permission-less protocol on that foundation.

[0] https://cointelegraph.com/news/51-of-ethereum-blocks-are-now...

as a dev and nostr user, here’s my elevator pitch:

everything is an event. events are signed using pki so it’s easy to know who sent the event and it’s authentic. they’re human readable json objects. events flow over websockets so it’s “real time”. you can build literally anything on this platform - listen for a type of event, do something, emit another. it can all interoperable. we started with basic twitter clones but are rapidly moving into uncharted territory - people are building music distribution apps, ai agents, and so on. and the entire ecosystem has native, programmatic payments built on bitcoin’s lightning network.

Ethereum is essentially a private tech company.

Proof of Work is the innovation that solves the distributed consensus problem. It’s a feature not a bug.

Transactions on the Lightning Network are near instant and cost about ~$0.04, or 1000x cheaper than Visa or MC.

Contribute to the conversation in a meaningful way.

  Transaction processors are paid by the proceeds from mining

The miner that wins the block gets the sum of the transaction fees and the block reward. Once all Bitcoin has been dispersed and the subsidy is done, miners only get transactions fees.

Bitcoin fixes this