bitcoinwell / Bitcoin Well is on Nostr

Non-custodial bitcoin only platform in Canada. Bank to bitcoin in 30 seconds 🏎️

Last Notes

2024-10-29 19:01:25

Bitcoin is the best money humans have ever invented.
Bitcoin is sound money… but at the same time.. Bitcoin it is not sound money!
How can that be the case? Let’s explore the history books
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The concept of sound money dates all the back to ancient Rome when Silver coins were the norm in everyday commerce
As Rome squandered its wealth and debased its money, the silver content in its coins decreased dramatically
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Roman soldiers and merchants grew weary of the debased coins and learned to detect them striking the coin against a hard surface
Silver coins made a distinct noise, symbolically called the "ring of truth", while coins clouded with other medals bore a different tone
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When England’s Royal Mint introduced paper money, the citizens rebelled, wanting only sound money, fearing debasement of paper (or easy) money
The first Royal Mint's banknotes were different than today's paper money, because they at least contained a 'promise to pay'
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In the 19th century USA, the “ring of truth” was even used to identify several counterfeiting scams
Since ancient Rome, the principles of sound money have travelled far across time and space, all the way to cyberspace
Bitcoin’s digital presence means a “ring of truth” test is impossible
Yet, at the same time, bitcoin’s scarce, self-custody and verifiable properties enable Bitcoin to champion all of the characteristics of sound money
Bitcoin is immune to debasement and inflation 🔊💰

2024-10-02 17:55:25

You can now swap bitcoin between the blockchain and the Lightning Network for FREE 🇨🇦
⚡ Instantly swap bitcoin between networks
🥷 Available for fully verified and Lite accounts
🤑 No mining fees and 0% fees on Swaps means you keep all your sats
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Here’s how to get started:
👉 Sign in to your Bitcoin Well account and go to Swap
👉 Select your destination bitcoin wallet
👏 You are ready to Swap
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Send bitcoin to your unique Swap address and your bitcoin will be automatically converted! ⚡️
With the “Free” blockchain speed you’ll automatically be included in the next batch so you won’t pay a single sat in mining or other fees for the process 😍
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Just like our other products, you can save (or remember) your Personal Swap Addresses to easily swap between networks without logging in 💾
It’s simple - yourwelltag@SWAP.btcw.app
Swap your Lighting balance to your cold storage on the blockchain so you can DCA frequently without a UTXO management nightmare 🤯
Want to learn more about how to Swap your bitcoin between the Lightning Network and the main chain?
Check out this article for more details:
https://www.bitcoinwell.com/blog/how-to-swap-bitcoin-between-the-lightning-network-and-cold-storage-on-the-blockchain-with-bitcoin-well-swaps
Not using Bitcoin Well? Do yourself a favour and future-proof your money
👇
https://bitcoinwell.com/app/signup

2024-09-17 15:38:28

"A man worth his salt" 🧂
You've heard before it, maybe you've said it yourself
But why is this expression used in admiration or respect, when a box of salt costs a couple bucks at the grocery store?
And what does salt have to do with bitcoin?
The answer may surprise you!
First, let's go back to Ancient Rome, its 100 BC
Salt is a valuable commodity
Salt frees people from the whims of the seasons by enabling long term food preparation
Salt could mean the difference between life and death
Salt production was minimal, salt was hard to obtain
Rome learned how to import salt from the Mediterranean, some say the first roman roads were built to transport salt from the sea to the capital
Roman soldiers were paid, in part, in salt. Likely a mixture of coinage and salt.
If a Roman Soldier slacked at his duties, the salt from his payment would be cut as he was 'not worth his salt'.
The latin world 'sal' means salt.
It is believed that roman soldiers were paid in salt and thats why the latin word 'salarium' is our origin for 'salary'.
Today salt is not a precious commodity.
Increased technological sophistication meant that harvesting salt became increasingly easier, increasing the amount of available salt and lowering its price.
This is the case with most commodities today, even gold.
As technology increases, stock to flow increases as well.
As bitcoiners know, an increasing stock to flow ratio can lower the per unit value of a commodity.
Bitcoin is immune to salt's downfall because increased technological sophistication cannot increase bitcoin production
Who knows, a few decades from now when bitcoin becomes the primary monetary system+unit in the world, maybe people will stop saying "a man worth his salt"
Bitcoin will be the money everyone desires.
The expression may even evolve to be:
"a man worth his sats" 🤔

2024-09-13 20:51:16

- reply

A few sats here, a few sats there. Next thing you know, you've got a stack!

2024-09-13 20:48:56

- reply

He came so close to a block reward just to lose to runes 😟

2024-05-28 18:15:17

Hey Canada! The best way to sell bitcoin on the lightning network is here ⚡🔄💵
🇨🇦 Instantly sell LN-BTC and receive an e-Transfer
🥸 Use a Lite Account to sell up to $1,000
🏎️Unique Payment Address for speedy transactions
Let’s dive in to see how it works 👇
Get your Bitcoin Well Payment Address:
⚡Select “Lightning” from the Sell page in your Bitcoin Well account to access your Payment Address
⚡It will look like “yourwelltag@sell.btcw.app”
⚡All sats received by your Payment Address are instantly converted into CAD
Send sats to your Payment Address:
⚡Enter your Bitcoin Well Payment Address into ANY Lightning Wallet
⚡Choose the amount of sats you want to sell
⚡Send sats and receive your e-Transfer within seconds
What’s a “Lite Account” you ask?
Accounts that only have a verified email address, are eligible to sell bitcoin via the Lightning Network in transactions under $1,000.
You can make a Lite Account at bitcoinwell.com/signup
Payment Address pro tip:
Remember your Bitcoin Well Payment Address to sell sats directly from your personal lightning wallet without logging in to your Bitcoin Well account!
Sends sats any time, any place and receive an e-Transfer⚡🔄💵
Want to learn more about selling bitcoin on the Lightning Network with Bitcoin Well?
Checkout our blog for all the details you need to know:https://m.primal.net/IQXj.gif

2023-06-16 16:49:14

Knowledge is power! The more you understand about #bitcoin, the fewer altcoins you'll find in your portfolio.
Raise your hands if you're in the #BitcoinOnly club! 🙌
#bitcoinwell #futureproofmoney
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2023-06-14 15:58:34

Tired of governments perpetually debasing our currency? #Bitcoin is the solution to safeguard your wealth from arbitrary inflation.
http://bitcoinwell.com/join
#bitcoinwell #futureproofmoney
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2023-05-08 16:34:04

Looking for a way to add #bitcoin to your balance sheet?
Head on over to http://bitcoinwell.com/corporate to learn more about our business solutions.
#BitcoinWell #BitcoinForBusinesses #futureproofmoney
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2023-05-01 17:08:36

With #bitcoin, you have the power to take control of your own money and protect your wealth from central banks.
Start your bitcoin journey today at http://bitcoinwell.com/join and #futureproof your money!
#bitcoinwell #btc
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2023-03-17 16:07:08

Bitcoin Well is on pace to crush our highest number of transactions in a month in March. Users keep stacking bitcoin while banks continue to crumble. Stay humble, stack sats 🫡