Hynek

Public Key

npub1lz8xv2dnyryrk4vswkcgf52vqqzruqwuyp53s7pvusx4fef9fh2s7hh86s

NIP-57 Address

hynek@walletofsatoshi.com

Profile Code

nprofile1qqs03rnx9xejpjpm2kg8tvyy69xqqpp7q8wzq6gc0qkwgr25u5j5m4gpzemhxue69uhhyetvv9ujumn0wd68ytnzv9hxgqg5waehxw309aex2mrp0yhxgctdw4eju6t09acxfl

Publishing to

relay.nostr.band

relay.damus.io

relay.primal.net

Author Public Key

npub1lz8xv2dnyryrk4vswkcgf52vqqzruqwuyp53s7pvusx4fef9fh2s7hh86s

Show more details

Last Notes

2025-05-16 13:53:06

Xapo bank is introducing Bitcoin beneficiaries → inheritance plan
https://xcancel.com/xapobankapp/status/1923372680226508934

2025-05-16 05:54:50

- 😥About the third cryptocurrency-related kidnapping attempt in 🇫🇷 France this month.
https://x.com/BGatesIsaPyscho/status/1922241946031923339
- 😥 Coinbase data breach from yesterday
https://www.bleepingcomputer.com/news/security/coinbase-discloses-breach-faces-up-to-400-million-in-losses/
KYC is very dangerous! Bitcoin is P2P, use @npub1mft…rkl3 if you don't have bitcoin friends...

2025-05-02 17:47:42

- reply

In some areas I do it already, but for example with tax payments I am still afraid to face the evil…

2025-05-02 16:56:31

I got an offer today to give a keynote at ETHPrague on topic "What I don't like about Ethereum"...
I'm actually kind of tempted.. 🤔
It’s a distraction, but could be fun…

2025-05-02 16:51:49

- reply

It’s eye opening, yet kind of hard to process.

2025-04-25 08:30:42

- reply

👏 Krásně se to rýsuje

2025-04-23 14:47:55

- reply

I didn’t get how it works from the website, but stablecoins are red flag 🚩

2025-04-23 14:44:45

- reply

Exactly 👍

2025-04-23 06:20:40

@npub1nyy…7gan has a lot of great features, but I would be worried if it gained traction and the masses relied on such a leaky security model.
https://image.nostr.build/4fbd7f9846c8731336e97e634042a60f1fb8c9edb7f47a0d8ea478ba4b5b9b1a.jpg

2025-03-23 19:30:38

Ark on signet feels good…
https://docs.second.tech/getting-started/

2025-03-21 18:05:34

https://image.nostr.build/27e94e1b34f5d1a737b192855f692c299edc536cb1829444d363c5cd99f0bc8a.jpg

2025-03-14 05:11:23

- reply

Yes. It makes a lot of sense to detach payment and settlement.
And cashu seems to be natural payment protocol. It will became the default.

2025-03-09 17:39:33

- reply

Why would anyone want to pay taxes?

2025-03-08 17:12:00

- reply

You are right it’s not a big problem per se. But I think it might be important building block.

2025-03-08 08:28:34

- reply

Nice,
But do you feel like you have to decode every emoji now, too? 😂

2025-03-08 08:19:19

Cashu is for peanuts…

2025-03-08 04:52:05

- reply

Everyone can help with sovereign adoption

2025-03-08 04:25:12

- reply

Yes

2025-03-07 19:28:53

- reply

Still Signal, but SimpleX looks also promising…

2025-03-07 14:05:05

- reply

Yes, Settle Up is cool.. I would be interested in some p2p solution. Not based on groups, but p2p connections..
Have you seen something like that by any chance?

2025-03-06 20:52:20

This looks interesting:
https://cowbolt.com/

2025-03-06 12:25:29

Great bitcoin adoption report by River:
https://river.com/learn/files/river-bitcoin-adoption-report-2025.pdf

2025-03-06 05:21:04

It's kind of funny how is everything USA instead of decentralized today 🍿 https://image.nostr.build/8cca6fab50fdf27798a7f388570a54fa9fefd5a5f5643104595437f969cc25f1.jpg

2025-03-04 19:35:48

This is the way. #note1x6c…edyj

2025-03-03 13:33:18

This #note12j0…ftw2

2025-03-02 08:17:08

- reply

What do you mean?

2025-03-02 06:16:14

- reply

Or use free https://vexl.it/

2025-03-02 06:15:13

- reply

Bitcoin is fine, but it could help us

2025-03-01 20:21:24

- reply

I'm not aware of a specific plan at Trezor.
But my personal plan is to explore the possibilities of verified contacts, forwardingverifiedonchain addresses via nostrrr and then building a p2p network:
#note174q…d5y4

2025-02-25 21:18:54

- reply

Nice

2025-02-25 16:34:29

- reply

USD sucks. That’s why we bitcoin

2025-02-24 06:26:08

- reply

Thanks. It looks compatible. I was thinking about local storage. Since I don’t need to publish the proofs 🤔

2025-02-24 05:32:50

I see verified contacts as the most important feature to develop right now. It may not seem revolutionary on its own, but I believe it is a fundamental building block for a resilient P2P network.
- You verify your contact’s identity (npub) in your hardware wallet.
— This is best done offline. You don’t need many contacts, just ones you fully trust.
- When sending an on-chain transaction, you use an address signed by that contact.
— This means you don’t need to check the address on your HWW, just the human-readable name tag.
- The verified contact’s address can be automatically retrieved in the background.
— We tested this using Nostr in our prototype, and it worked well.
- The same approach can be used to verify anything else.
— For example, LN invoices or Ark addresses.
- This could also enable:
— P2P marketplaces
— Social backup
— Trust-based scaling #note174q…d5y4
Ideally, a high-quality standard would emerge that various HWWs could adopt. This would allow deriving backups for any hot wallets, and verified contacts could be used consistently across all applications.

2025-02-23 19:58:04

- reply

I have an idea, but not working specifically on this part of it right now.
1: Derive contacts (npub/npriv) from seed (ready in Trezor)
2. Verify offline your trusted contacts (TBD)
3. Derive shamir that leads to the same result as initial seed (already working in Trezor)
4. Encrypt these shares with previously verified contacts
5. Store it securely - there are more options with various trade-offs- it could be shared directly with your verified contacts, it could be recorded on blockchain (that enables automated health-check, but you can’t remove the trusted contact later on), or you can store it on your(or trusted) node/server → that enables later changes and health check - server can’t misuse these data since they are encrypted.

2025-02-23 11:51:45

- reply

Good point

2025-02-23 08:20:49

- reply

I’ve seen estimates suggesting that around 200 million people own some bitcoin, but only about 10% of them hold it in self-custody.
If roughly 2.5% of the world’s population has some bitcoin, I assume they, on average, hold only a small portion of their cash in it.
So, I agree—the potential is huge, and bitcoin is accessible to anyone. 🤯
However, even if your savings increase tenfold, there are more efficient ways to build wealth.
My main point is you shouldn’t kidnap bitcoiners—there are wealthier targets out there. 🫥

2025-02-23 06:55:45

People often think that if you have bitcoin, you must be rich.🤑
But just saving a bit of what you don’t consume doesn’t mean you’ll be wealthy. A moderately successful entrepreneur who has never even touched bitcoin will likely be better off than an average bitcoiner.
Bitcoin brings freedom and protection against poverty, but the days when it made people wealthy are long gone.

2025-02-23 06:45:56

Speculating on the price of bitcoin is a distraction. If you're not willing to go all in, it's hardly worth it. The most common advice is #DCA, but I recommend going all-in with #GetOnZero.
If you have an income that covers your needs and you believe bitcoin is better than fiat, then keep everything in bitcoin and stop worrying about nonsense.
I've been doing this for several years, and it's incredibly liberating. It also comes with many other benefits, such as:
- You’ll learn to use bitcoin more effectively
- You’ll always prefer paying with it
- You'll start building a network of bitcoiners around you - especially within your family.
- You'll be able to help people because, with your established network, you can - for example, send something to your mom, knowing you have several other people to replenish your bitcoin supply.

2025-02-22 16:19:45

- reply

Solidní program 💪

2025-02-22 07:32:56

- reply

Btw institutions are taking cut from this staking → even more money are transferred from individuals to institutions..

2025-02-22 07:31:57

ETH price denominated in real money in last year…
It is more than 50% loss.. But ethereans get circa 5% back in staking 🎉 https://image.nostr.build/85c34d29fd294e51a5d9cf343cf8a6a882042a88933a4b0aa4f5556b63e2532b.jpg

2025-02-21 19:12:28

It feels like every application is addictive in its own way.
I can sense how, with almost every use of a custodial wallet, my vigilance decreases, and I become more comfortable keeping larger amounts there. Switching away from it gets increasingly difficult.
Cashu wallets offer an easier transition between banks… but I still miss a smooth path to self-custody. It almost seems like if you don’t start with self-custody from the beginning, it becomes more distant rather than closer over time.
How do you see it?

2025-02-21 15:37:34

- reply

Governments are evil…

2025-02-21 06:52:36

- reply

It depends on what you count as costs.
I think that p2p is cheapest in both terms. Money-wise and transaction costs too.
KYC can bring astronomic costs…

2025-02-21 06:11:24

- reply

P2P. @npub1mft…rkl3 can help with that…

2025-02-18 17:03:37

- reply

Cashu.me

2025-02-17 18:57:44

This article is really amazing and fascinating.
https://waitbutwhy.com/2016/03/cryonics.html
One of the reasons why we should hurry with the bitcoin adoption, so we can use the energy to other topics later on.

2025-02-17 11:56:13

- reply

Not enough yet

2025-02-15 08:55:20

https://stacker.news/items/180715/r/hynek

2025-02-15 08:35:53

- reply

Trezor for onchain savings. For spending probably @npub1xnf…lpr5

2025-02-14 16:40:38

- reply

I’m looking forward for your insights

2025-02-14 13:15:37

- reply

💯󠅄󠅢󠅥󠅕󠄐󠅣󠅤󠅟󠅢󠅩

2025-02-13 16:11:37

- reply

Fair. Thx

2025-02-13 15:50:13

- reply

Thank you..
It seems that Rescan wallet helped…
But I’m still bit afraid to use it with onchain funds 😬

2025-02-13 14:55:41

- reply

I’m trying to use it without my node. Use some LSP instead. But maybe it’s not possible?

2025-02-13 14:37:44

- reply

I don’t see embedded in settings https://image.nostr.build/1baa754febcb5fa8e639ecd5be9c93e36abc3f58eb90e00f308c6a31885de668.jpg

2025-02-13 12:34:21

I’m testing @npub1xnf…lpr5 with LSP - on testnet. Whenever I send bitcoin onchain, it doesn’t appears in the app. Any idea what could I be doing wrong?
(I was testing testnet3 and testnet4)

2025-02-13 12:00:12

High-level idea for gradual scaling of bitcoin with the proper combination of verified contacts, cashu, nostr, and channel factories.
See the post on GitHub:
https://github.com/hynek-jina/Hynek/blob/main/blog/Channel%20Factories%20fueled%20by%20Cashu.md

2025-02-11 18:30:28

- reply

@npub1mft…rkl3

2025-02-11 17:45:43

- reply

Drastic for who?

2025-02-11 17:01:16

- reply

Sounds good. Even better is to publish on nostr only

2025-02-11 05:30:50

Imprisoning a person seems to me like the most desperate solution, one that does not compensate the victim—instead, it indirectly forces them to pay for the costs of incarceration. I understand that there are situations where, as a society, we don't know how to handle it differently, but it should be only a handful of people, with the awareness that this is a suboptimal solution and with the hope that we will soon find a better one.
If a country specializes in imprisoning people, it feels like modern-day slavery to me. And the relative number of prisoners could serve as an index of that culture’s backwardness.

2025-02-11 05:25:11

- reply

But also … DCA also has dollar in its name 💩 → it just doesn't have a future...
https://stacker.news/items/15797/r/hynek

2025-02-11 05:11:03

- reply

Ok. That looks valid

2025-02-10 21:37:31

- reply

That doesn’t correspond to DCA

2025-02-10 21:36:44

- reply

Good one👍

2025-02-10 20:05:49

I still don’t get the DCA.
Why would you keep holding the fiat?

2025-02-09 13:43:41

- reply

Výborně 👏

2025-02-09 13:38:27

- reply

Vlastně @npub1mft…rkl3

2025-02-09 06:12:14

- reply

Looks nice. But do you know Bleskomat?

2025-02-06 20:37:01

Bitcoin is more than the best store of value
https://breez.technology/report/

2025-02-05 21:56:53

- reply

Jaguar?

2025-02-04 06:23:45

- reply

Společně tady ten gigantický socialistický skanzen vybudujeme i kdyby na chleba nebylo 💪

2025-02-03 14:08:23

- reply

Yes, normally they do 🙂
But I’m trying to make a mint from every user (without running dedicated server)
#note1puj…ckst

2025-02-03 07:24:12

- reply

Crazy

2025-02-03 07:21:53

- reply

It’s great. The only downside I see is centralization and high fees

2025-02-03 06:52:55

Is there some library that would help with cashu (issuing, burning, …) without connection to external mint?
#asknostr

2025-02-02 13:54:12

- reply

Whole bitcoin stands on game theory / incentives

2025-02-02 07:49:35

- reply

How do you mean it?
I think that p2p verified identity is a very important building block..

2025-02-02 07:08:23

Jsonbits is asking on @npub1jfu…m0gx What do you think is the biggest thing holding back mainstream merchant adoption?
https://stacker.news/items/873056/r/hynek
—
I think there needs to be demand from paying bitcoiners first. And bitcoiners need to go full in bitcoin even before that. Otherwise they tend to fall in Gresham's law fallacy

2025-02-02 06:27:57

- reply

Savage, but have some point 🙂

2025-02-02 05:46:10

- reply

Happy birthday 🎉

2025-02-02 05:44:33

- reply

I think it’s because:
- we don’t live in tribes anymore
- cashu is simpler
- cashu is protocol with better documentation. Fedi is more about one specific app

2025-02-01 20:23:52

- reply

Is it positive sign?

2025-01-31 13:07:13

- reply

#note1qsr…6awd

2025-01-31 13:05:50

- reply

I don’t think so even though I understand your view.

2025-01-31 08:59:30

- reply

Stable shit

2025-01-31 05:30:51

- reply

Yes. I’m really impressed how you see the consequences. 🤩
Be always online is beneficial, but not necessary. I believe we can do the communication asynchronous via nostr.
And SettleUp is great too. Small difference would be that SettleUp works primarily with groups and here I think is better to use primary p2p connections and in later stage build potentially even not visible groups that operate channel factories..

2025-01-30 06:57:39

- reply

I’m glad you are interested 👍

2025-01-30 06:11:04

Another beautiful consequence of verified contacts being able to issue their own Cashu tokens is that it simplifies communication within a Lightning channel factory. Once you have verified contacts with their npub, you can coordinate the construction of a new channel factory and, more importantly, modify the distribution of existing virtual channels within the factory.
You can freeze the state of channels and continue clearing via Cashu tokens. Once the new channel distribution is settled, you can redeem the tokens back through your newly established channels. #note1qsr…6awd

2025-01-29 20:08:51

- reply

Yes, I will try to use cashu as one of the puzzle pieces

2025-01-29 19:12:22

Imagine if everyone could issue their own IOUs in sats. I don’t mean just anyone, but literally everyone. You would accept promises only from well-known and verified peers—and only up to a certain amount. You would compare the risk of losing this money with the cost of bitcoin settlement.
During times of cheap block space, like now, you could settle on-chain more frequently. If you have a stable internet connection on your mobile, you could start opening channels with your peers. Once you have a few channels, the incentive to hold IOUs decreases. And with further optimizations, it diminishes even more.
This could extend the reach of the Lightning Network, connect the missing points, and, over time, help build a truly resilient network. #note1jzd…squ5

2025-01-29 14:00:31

If we can’t guarantee that nobody can print money the second best could be that everyone can print. And with verified peers the ecosystem could evolve to intended state that nobody is actually printing. #note1wc7…87ez

2025-01-29 09:14:05

- reply

Probably using some custodian like Coinbase.. but I don’t know..

2025-01-29 07:52:59

Self-custody is not trivial, but self-custody for state institutions will be huge honeypot and therefore really difficult to maintain.
https://www.ft.com/content/a3c06f8f-34ad-4065-bcf4-97670230824f

2025-01-29 07:30:20

Mempools are almost empty again..

2025-01-29 05:12:29

This remains to be the primary goal:
A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending…

2025-01-28 06:24:02

- reply

Thanks. Yes. Scammers are everywhere..

2025-01-28 06:22:50

- reply

Zatím tady jsme jenom jako jednotlivci

2025-01-27 11:52:03

Bitcoin is not technically perfect. Its genius lies in getting the incentives right.