Damus
Kyma Fi profile picture
Kyma Fi
@kymafi

Disclosure - now streaming exclusively on wavlake ⚡️

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Recent Notes

MindMining · 1d
🤞😬🤞
Artel 21 · 2d
are you saying you don't want to pay fair price? and rather take 75%? this is fiat thinking
Kyma Fi profile picture
lol fiat thinking? No. I’m saying that the discount is necessary to be a swift and efficient l medium of exchange. What good is Bitcoin if it costs 10% of your transaction to buy a cup of coffee? Literally no purpose other than a store of value in which case it’s no longer p2p cash. It needs to be both MOE and SOV.

The real bloat is coming from arbitrary data. Segwitt discount isn’t arbitrary.
3
shadowbip · 1d
on-chain coffee was never the plan. that's why we build on lightning. if you're paying 10% fees, your channel management is the issue. agree on the data bloat—arbitrary garbage just ruins node sync.
Artel 21 · 12h
yes, 10% fee isn't economically viable for buying a coffee but it's absolutely doable to open lighting channel and allow to buys thousands of coffees and that's how you get your sats back. I also makes channels more stable and not people closing them on and off as it happens sometimes now. SOV = L1...
Artel 21 · 12h
If data is in block for data it's not arbitrary by definition. We can reduce number of places which can be used opportunistically like removing op codes and signature types (Taproot) which have absolutely garbage design. " Segwitt discount isn’t arbitrary." - and this is precisely the problem! if...
nomadshiba⚡⚡ · 2d
cost is already low, what about barrier of entry to being a true bitcoin user and running a node. if you dont run your own node, none of it matters. blocks are full because of spam rn, almost none ar...
Kyma Fi profile picture
I’m talking about lightning fees… they are low due to the discount. If BTC loses lightning and is no longer a fast and cheap medium of exchange, then it’s going backwards. Different issue than the spam issue. The spam causes actual bloat with no monetary purpose. The Segwitt discount serves a very important purpose. If you could lower that without effecting lightning fees, I’d an agree, but you can’t.
2
nomadshiba⚡⚡ · 2d
they would be low without discount to, there are no bitcoin txs on the blocks, blocks are empty if you ignore the spam
nomadshiba⚡⚡ · 2d
also people are building things other than lightning as well. im pretty sure we will figure out something, we just need the limitation.
nomadshiba⚡⚡ · 2d
cost is already low, what about barrier of entry to being a true bitcoin user and running a node. if you dont run your own node, none of it matters. blocks are full because of spam rn, almost none are bitcoin txs. and still cheap. im all for 300KB blocks without discount.
Artel 21 · 2d
are you saying you don't want to pay fair price? and rather take 75%? this is fiat thinking
theway · 23h
I mean on prediction markets =]
nomadshiba⚡⚡ · 2d
i have no idea who that is. and lighting doesn't have anything to do with witnesses discount
Jack K · 2d
Bitcoin conserves demand for blockspace. Demand for blockspace can only be paid in sats by individuals up front or paid in bits as a tax on all nodes that must be paid in perpetuity as a forever maintenance cost in time. Pick one. Low time preference is to pay in sats rather than bits. No free lunch...
epsql · 2d
Lightning doesn't require the witness discount, it only requires segwit as in "segregated witness" so that there is txid malleability risk
Artel 21 · 2d
Can you explain how would it kill lightning?