roarkjanis
Roark Janis

“Retired” Bitcoiner and Entrepreneur

Public Key

npub1yyn8ruy39yuc4kk6pqf06zsjwnrhgvcm5hahjea9am00j8v2s5jqacqswv

NIP-05 Address

roarkjanis@primal.net

NIP-57 Address

roarkjanis@getalby.com

Profile Code

nprofile1qqszzfn37zgjjwv2mtdqsyhapgf8f3m5xvd6t7mev7j7ahherk9g2fqpp4mhxue69uhkummn9ekx7mqn8nz0s

Publishing to

nos.lol

Author Public Key

npub1yyn8ruy39yuc4kk6pqf06zsjwnrhgvcm5hahjea9am00j8v2s5jqacqswv

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Last Notes

2024-10-18 21:27:00

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It is a lot of double handling but I find it worth to live on a bitcoin standard. My exchange where I do most of this will be issuing a credit card soon that will pay off with bitcoin automatically. In the meantime, I do the extra work based on first principles.
Personally I’m leveraging my software development team to build more tools that will support bitcoin as a unit of account that will work with the financial solutions that will be forthcoming

2024-09-21 20:45:37

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In the long-term, I think you are right. In the shorter term though do you think we can advance MoE and UoA? I'm working on the UoA use case with tools and solutions and would like to publish a White Paper soon with community participation. If anybody is interested, please me to to collaborate.

2024-09-21 20:43:08

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Thank you for sharing additional insights on this. As a relatively new bitcoiner, it is helpful to me to get more perspective. I have set up two lightning nodes myself to better understand the technology and use cases and don't think it could be locked out of the base layer. The reason is that to open a channel, I simply do an on-chain transactions from my wallet to a new multi-sig wallet with the party on the other end of my channel. How would a decentralized Bticoin network prevent somebody from submitting a valid onchain transaction to open a channel?
Once opened, I can freely transaction via the Ligthning protocol using that channel until such time as either my channel partner or I want to close the channel which is another onchain transaction to settle the amount of bitcoin each of us has on our side of the chnanel. If the channel closing transactions is valid onchain, I don't think anybody would prevent it from being added to a block.
Except perhaps miners who could figure out a 51% attack but if that happened we have bigger problems than whether L2 is working or not.

2024-09-20 02:20:23

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The size of the block doesn't seem like the issue. It seems like layer 1 taking an average of 10 minutes per block to confirm and 60 minutes for 6 confirmation to ensure immutability is a bigger concern. Why don't the big blockers ever explain how BTC can be a Medium of Exchange (MoE) when it takes much longer than a fiat credit card approval we are used to when exchanging. Lightning and a myriad of other options mentioned by @npub1s05…eyhe do offer a comparable user experience. My focus is on creating the Unit of Account (UoA) to support the MoE so that bitcoin can become have all monetary properties as the geniuses that are working on layer 2 have great solutions for us.

2024-09-20 00:36:28

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#1 all the way! In addition to the tools like "lightning, Liquid, Fedimint, Cashu, etc.", for Medium of Exchange (Moe), we will need tools and applications to use bitcoin as a Unit of Account (UoA). I think that aspect of MoE adoption is not getting enough attention and I'm organizing some efforts around that with the few who are working on tools. Anybody with interest in helping to create a White Paper on UoA with our group, please reach out to me.

2024-09-17 02:34:29

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Top of the morning to you!

2024-09-15 21:12:52

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I think this is correct and your timing makes sense. That is why I'm working on solutions that bring tools being developed by various project teams so that once MoE takes off we are ready to account in bitcoin as a base currency.

2024-09-15 05:36:03

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This is so true. I finally focused on my ideas instead of treating them like hobbies and the results are amazing!

2024-09-14 03:59:18

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Best of success to you! You can do it!

2024-09-14 03:55:57

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This is a very interesting idea and I appreciate how much thinking and effort it took to put it together. I hope you will post updates periodically about it.

2024-09-14 03:47:12

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How did you reach the point of no doubt about God’s reality? Can you share more?

2024-09-14 03:44:39

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Thank you for sharing this insight. We have much to be grateful for while using the blessings of saving in bitcoin to do good and help those less fortunate

2024-09-14 03:43:15

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We are still early to bitcoin and even earlier to Nostr

2024-09-14 03:41:30

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Seems like good, insightful advice to follow!

2024-09-06 19:32:32

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I love these dips as an opportunity to stack more sats!

2024-08-29 01:00:25

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Welcome!