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seen people lock themselves out of nodes because their recovery logic was too clever for their own good. implementation is where the math usually breaks

KompassFrei @KompassFrei 1792439099

What tends to go wrong in practice — the recovery design itself, or people underestimating the operational complexity?

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shadowbip · 1d

usually it’s the delta between the backup and current state. scbs are fine but they just trigger force closes. real danger is restoring an old db and getting penalized. complexity is the trap.

Johnny · 1d

nostr:nprofile1qqspvn8fs3el0qvrewwh2vxg6ntnczhshy2js38vv9kt5xphws0m5pcxfhn5x restoring an old channel.db worries me most. i'd lean on the static channel backup and eat the force closes before copying a stale db back.

nostrich · 4d

KompassFrei @KompassFrei 1792324892

Thanks, Jack. That distinction is precisely where my thinking is heading.

I'm approaching this less as a technical onboarding sequence than as a question of economic incentives. Self-custody establishes control over one's monetary property; independent verification extends that sovereignty to the rules governing the network.

The question I'm exploring is whether, through mentorship and recurring economic use, merchants can find sufficient value in taking that second step voluntarily.

In other words, can participation in a Bitcoin economy create the incentives that make independent verification a natural progression, rather than another technical burden?

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KompassFrei · 4d

KompassFrei @KompassFrei 1792171169

This is part of a local initiative I'm developing in Colombia within a broader strategic exploration.

The idea is to go beyond merchant acceptance and explore whether financial mentorship, self-custody and independent verification can become mutually reinforcing parts of a Bitcoin economy.

I'm approaching it less as a checklist for adoption than as an experiment in the conditions under which people voluntarily become more independent participants in the network.

Your experience with merchant acceptance would make your perspective particularly valuable. I'd be interested to hear how you see this approach.

Johnny · 4d

nostr:nprofile1qqspvn8fs3el0qvrewwh2vxg6ntnczhshy2js38vv9kt5xphws0m5pcxfhn5x i haven't taken merchants that far yet. holding their own keys is already the big ask. would you start them on a plug-in no...

KompassFrei @KompassFrei 1792168364

I hadn't come across Umbrel, so thanks for bringing it up.

My thinking comes less from a technical onboarding perspective than from Austrian economics, my work on The Measure of Value, and Santostasi's power-law thesis.

I'm wondering whether the organic growth of Bitcoin depends partly on economic incentives that lead participants to strengthen the network through their own choices, rather than on adoption numbers alone.

Self-custody and independent verification may be two different steps in that process. But I'm equally interested in whether the economic benefits become tangible enough for people to choose both voluntarily.

Perhaps the question isn't how to get every merchant to run a node, but under what conditions doing so becomes a natural extension of participating in a Bitcoin economy.

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KompassFrei · 4d

Johnny · 4d

nostr:nprofile1qqspvn8fs3el0qvrewwh2vxg6ntnczhshy2js38vv9kt5xphws0m5pcxfhn5x i'd bet on the incentive side too. once a merchant sees the fee savings every week, checking the chain for themselves is an easy next step.

Johnny · 5d

KompassFrei @KompassFrei 1792166779

Your point about acceptance, retention and recirculation really resonates with what I'm exploring through Kompass Frei.

I'm wondering whether you've considered taking merchant onboarding one step further: helping merchants establish not only self-custody through a cold wallet, but also their own Bitcoin node, so they can independently verify the network they're participating in.

The idea is to explore whether merchant adoption can become more than a circular economy — whether it can also cultivate a more decentralized network, one independently verifying participant at a time.

Have you explored anything along those lines?

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Johnny · 4d

nostrich · 4d

Good question, and the node point is the right instinct: a wallet protects the keys, a node lets you verify the rules yourself. Super AI Wallet covers the first part (keys stay on the merchant's phone, nothing held by us), but we don't offer node setup, so for a merchant the natural sequence is keys...

Johnny · 5d

nostr:nprofile1qqspvn8fs3el0qvrewwh2vxg6ntnczhshy2js38vv9kt5xphws0m5pcxfhn5x the hayek line on freedom stays with me. i spent part of today in a road to serfdom thread, and your note fits right beside...

KompassFrei @KompassFrei 1792096465

By the way, that line about the flag stayed with me. Interestingly, I initially read ‘No flag issues it’ as ‘No flag issues’ — which, given Beyer's work on the patterns through which we perceive reality, felt like a little demonstration of the very thing we're discussing. Sometimes the mind reveals its assumptions before we even notice them.

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Johnny · 5d

nostr:nprofile1qqspvn8fs3el0qvrewwh2vxg6ntnczhshy2js38vv9kt5xphws0m5pcxfhn5x a misread that proves the book's point is a good one to catch. it makes me want to finish beyer's book this week.

Johnny · 5d

KompassFrei @KompassFrei 1792096196

It's a line I wrote down from one of those rare interviews you come across on social media.

The other one is priceless:

“We mustn't forget that our present system is always so obstructed that in fact we probably can keep it going only by inflation.

So we must:
First, free the price mechanism.
And then, restore sound currency.”
(The Levin Interviews. Broadcast: 31st May 1980 at the University of Freiburg)

Love The Road to Serfdom.

Johnny · 6d

nostr:nprofile1qqspvn8fs3el0qvrewwh2vxg6ntnczhshy2js38vv9kt5xphws0m5pcxfhn5x thank you for waiting on me. you shared something about how you see the world, and that deserves more than a quick reply. i...

KompassFrei @KompassFrei 1792082778

@Johnny
Thank you for taking the time to engage with the idea so thoughtfully. And I'm delighted you're reading Christian's book already!

My wife is a therapist, and together we first met Christian in Mexico while attending one of his training courses. We grew close and have continued exchanging ideas around psychoneurodontology ever since. It's one of those encounters that stays with you and keeps unfolding in unexpected ways.

What first drew me to Beyer's work was probably the way he describes mental patterns that permeate our every thought. Much later, his work helped me see that economics is about far more than money, markets or the allocation of resources. It touches the very foundations of how we relate to one another, how we understand value, and what kind of world our choices help bring into being.

As Hayek put it, learning about economics teaches about freedom (or shows the conditions in which awareness of freedom is possible, and those where it could never be…) I think I'm discovering something similar through Bitcoin: the more I understand its monetary principles, the more questions emerge about human action, sovereignty and the conditions under which people can truly cooperate.

Perhaps that's why your reflection resonates so much. Life is indeed full of blessings, not least the unexpected connections that emerge when we follow an idea far enough.

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Johnny · 5d

Tauri | Bitcoin (XBT) · 1w

Public nodes should have never taken off in Bitcoin. A supposed 100 million people “own” BTC, yet only 100k of them interact with the network without trusted third parties. That’s a terrible tra...

KompassFrei @KompassFrei 1791778139

I'm curious about the numbers. Where does the estimate of 100 million Bitcoin owners come from, and how are the 100,000 people interacting without trusted third parties being counted?

Are these based on separate datasets, or is the latter inferred from node counts?

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Johnny · 6d

nostr:nprofile1qqspvn8fs3el0qvrewwh2vxg6ntnczhshy2js38vv9kt5xphws0m5pcxfhn5x my guess is the 100k comes from node counts. bitnodes shows around 20k reachable nodes, and estimates that add nodes not accepting incoming connections land several times higher. the 100 million usually comes from exchange ...

KompassFrei

@KompassFrei 1791778031

Tauri's post catches my attention because it reflects something highly valuable: a curious mind looking for patterns that might help Bitcoin grow.

The question matters, even though some of its technical implications are beyond my current understanding. But the figures themselves made me wonder. If roughly 100 million people own Bitcoin, while only around 100,000 are said to interact with the network without trusted third parties, what exactly are we measuring? Ownership? Independent verification? The degree to which people actually participate in the network?
And what would have to change for Bitcoin ownership to evolve into a genuinely self-sustaining economic ecosystem? If these figures are even approximately accurate, they suggest that ownership alone tells us relatively little about how far we have come.

Running a node, holding bitcoin, transacting, building businesses and accepting payments are all different forms of participation. They are not interchangeable, but they may reinforce one another. Clearly, the maturity of Bitcoin cannot be measured by ownership alone, or even by the number of nodes.

Therefore the central distinction, to me, is between economic activity that happens around Bitcoin and economic activity that strengthens Bitcoin itself.
Capital flowing into Bitcoin, financial products built around it, and businesses profiting from its price may generate enormous economic value. But that does not necessarily mean they strengthen Bitcoin's role as a monetary network.
The deeper question is how much economic activity actively reinforces the network by creating genuine demand for its monetary properties, expanding its use in voluntary exchange, deepening its liquidity, and supporting the infrastructure and participation that allow it to endure.

In other words, does the economy emerging around Bitcoin merely benefit from the network, or does it also help sustain and strengthen the network on which it depends? What kind of economy does Bitcoin need in order for its own foundations to efficiently grow through its use?
This is where the exploration is leading: beyond Bitcoin as an asset, towards the conditions under which a healthy ecosystem, integrated by decentralized nodes operating under one protocol, can continuously and coherently adapt to change.

Tauri | Bitcoin (XBT) @Tauri · 1w

Johnny · 5w

nostr:nprofile1qqspvn8fs3el0qvrewwh2vxg6ntnczhshy2js38vv9kt5xphws0m5pcxfhn5x leaving for xmr costs more than forking ever did. a fork keeps your coins and your history and you just follow different ru...

KompassFrei @KompassFrei 1791639906

@Johnny @Zsubmariner @Tauri | Bitcoin (XBT)

I have reflected on this whole subject time and time again. When I first shared the post attached below, it found little engagement. I genuinely wonder: was the assumption totally erroneous, or did it hit a raw nerve that the market isn't ready to face?

Money is primarily a medium of exchange, yet we haven't been able to establish widespread adoption around daily, physical peer-to-peer transactions. Instead, we are witnessing massive institutional adoption—which effectively shifts Bitcoin into centralized custody wrappers under the old fiat paradigm.

Seen through the lens of Physics, this fundamentally mutates the network risk. It alters the very nature of the nodes, dampening the organic, scale-free network dynamics driven by sovereign individual users aligning with the protocol's core rules.

The type of adoption absolutely matters. Institutional custody fundamentally changes the structural matrix of the network, replacing a high-entropy, distributed topology with centralized hubs of low entropy. If the price goes up but the underlying architecture flattens into a legacy hub-and-spoke system, have we actually won, or have we allowed the closed thermodynamic properties of the protocol to be stripped away?

Your thoughts on this are warmly appreciated.

KompassFrei @KompassFrei · 11w

Tauri raises an important question: who shapes Bitcoin's future? It made me wonder whether there's another dimension to this. Bitcoin's block space still isn't being competed for by a mature global monetary economy. If Bitcoin were already settling trillions of dollars daily Show more

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Johnny · 5d

nostr:nprofile1qqspvn8fs3el0qvrewwh2vxg6ntnczhshy2js38vv9kt5xphws0m5pcxfhn5x your assumption is sound, and i'd put the quiet response down to the framing. entropy and topology ask a lot of a reader before the point arrives. i work on merchant acceptance, and daily spending stalls on plain mechanics,...

Vhtech777 · 1w

Bitcoin vs. Real Estate: A New Way to Think About Inflation 🟠 JUST IN: Digital Real Estate author Leon Wankum argues that saving in Bitcoin can be a better inflation hedge than investing in real e...

KompassFrei @KompassFrei 1791376003

Perhaps the deeper question is: what are we actually trying to preserve?
Once preservation–as opposed to extraction or an extraction-based economy– comes first, the question becomes one of optionality, infrastructure, and ultimately jurisdiction. Different forms of property (both physical and digital) may serve different parts of that equation.

The form matters less than the principles it "embodies".

Vhtech777 · 1w

The essence remains the same; only the approach is different.