@Standard Sats
We address volatility. We ship Valet ♦️ https://f-droid.org/packages/finance.valet.
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The latter. I serve thousands of merchants
Having said the above, I also agree with the point that "unwillingness to spend Bitcoin by Bitcoiners is also the cause"
However, it is relatable why this is the case; Bitcoin is the hardest, scarcest monetary asset in the world, with price volatility.
The volatility of Bitcoin is the common ground for which both merchants and Bitcoiners might be reluctant to accept and pay in it respectively.
Most merchants run on Fiat, accepting and holding Bitcoin means possibility that their Fiat capital dips following a Bitcoin dip, and for Bitcoiners, nobody will be happy to spend their Bitcoin when the Fiat value is down, especially if they acquired such Bitcoin when the Fiat value is higher.
So the ultimate solution is making Bitcoin the base layer for moving fiat value. This helps the merchant accept Bitcoin confidently, and also ensures that any Bitcoiner can pay with Bitcoin at any point in time.
One of such solutions is "Fiat Channels", a lightning protocol specification that enables the creation of synthetic assets on Lightning. There are several other implementations like this such as "Stable Channels".
With these protocols, merchants could accept Bitcoin while retaining the "stable" Fiat value of the Sats as at when received.
MoneyGadger may set up a Host and offer these services to her clients, ensuring that Sats continue to exchange hands while carrying Fiat values across.
Fiat Channels: https://github.com/standardsats/fiat-channels-rfc
However, it is relatable why this is the case; Bitcoin is the hardest, scarcest monetary asset in the world, with price volatility.
The volatility of Bitcoin is the common ground for which both merchants and Bitcoiners might be reluctant to accept and pay in it respectively.
Most merchants run on Fiat, accepting and holding Bitcoin means possibility that their Fiat capital dips following a Bitcoin dip, and for Bitcoiners, nobody will be happy to spend their Bitcoin when the Fiat value is down, especially if they acquired such Bitcoin when the Fiat value is higher.
So the ultimate solution is making Bitcoin the base layer for moving fiat value. This helps the merchant accept Bitcoin confidently, and also ensures that any Bitcoiner can pay with Bitcoin at any point in time.
One of such solutions is "Fiat Channels", a lightning protocol specification that enables the creation of synthetic assets on Lightning. There are several other implementations like this such as "Stable Channels".
With these protocols, merchants could accept Bitcoin while retaining the "stable" Fiat value of the Sats as at when received.
MoneyGadger may set up a Host and offer these services to her clients, ensuring that Sats continue to exchange hands while carrying Fiat values across.
Fiat Channels: https://github.com/standardsats/fiat-channels-rfc
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The latter. I serve thousands of merchants
By your website, the summary of what MoneyBadger does is that it helps Bitcoin users convert QR codes of your affiliated Fiat payment processors to Lightning invoices so that they could pay with Bitcoin. Awesome service!
If the above knowledge of what MoneyBadger does is correct, then, the question becomes "how many of these merchants you serve actually understand what Bitcoin is, and boldly signal its acceptance in their businesses? - That is when we can say that they accept Bitcoin payments
It get's even better if they accept Sats directly.
Please, if our understanding of your service is wrong, kindly correct it.
If the above knowledge of what MoneyBadger does is correct, then, the question becomes "how many of these merchants you serve actually understand what Bitcoin is, and boldly signal its acceptance in their businesses? - That is when we can say that they accept Bitcoin payments
It get's even better if they accept Sats directly.
Please, if our understanding of your service is wrong, kindly correct it.
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IMMORTAN LIBRARY & HOSTED CHANNEL
A week ago, our team member @Africas Largest Bitcoin Owner (ALBO) gave a talk at the 13th Socratic seminar of the #bitdev community in Abuja, Nigeria, during the monthly Bitcoin developers meetup.
During the session, he introduced IMMORTAN Library and Hosted channels, the two Lightning implementations designed to foster Bitcoin adoption in local communities by advancing self-custodial mobile Lightning usage and cost-effective, community-focused Lightning onboarding.
Immortan is a lightweight, mobile Lightning library with advanced privacy features, robust channel-recovery options, and redundancy against frequent force-channel closures.
Hosted channel, on the other hand, is a custodial Lightning channel protocol specification. Hosted channels enable anonymous custodial channels to be opened by any node (Host).
Like a normal Lightning channel, Hosted channels are fully private because preimage generation, onion formation, and route finding all still happen on the client side, whilst the Host (routing Node) holds the funds and does the job of forwarding payments for the client.
Valet Bitcoin is a wallet software that currently runs on Immortan Library and Hosted channels, forked and maintained by @Standard Sats.
Learn more about Immortan Library and Hosted channels by checking out the project GitHub links:
IMMORTAN LIBRARY: https://github.com/standardsats/immortan
HOSTED CHANNELS: https://github.com/standardsats/hosted-channels-rfc
Install Valet from @F-Droid, @Zapstore, or directly from GitHub, and try out Hosted channels: https://github.com/standardsats/valet/releases.
We invite everyone to join the discussions and contribute to this project. Join us on Telegram chat, where we share insights and build this together: https://t.me/StandardSatsCommunity
Big shout out to the organizers of #bitdev #Abuja for the opportunity to share our work with the community, and particularly @Btrust, for powering these interactive and impactful metups across multiple cities in Africa.
#bitcoin #bitdev #lightning
A week ago, our team member @Africas Largest Bitcoin Owner (ALBO) gave a talk at the 13th Socratic seminar of the #bitdev community in Abuja, Nigeria, during the monthly Bitcoin developers meetup.
During the session, he introduced IMMORTAN Library and Hosted channels, the two Lightning implementations designed to foster Bitcoin adoption in local communities by advancing self-custodial mobile Lightning usage and cost-effective, community-focused Lightning onboarding.
Immortan is a lightweight, mobile Lightning library with advanced privacy features, robust channel-recovery options, and redundancy against frequent force-channel closures.
Hosted channel, on the other hand, is a custodial Lightning channel protocol specification. Hosted channels enable anonymous custodial channels to be opened by any node (Host).
Like a normal Lightning channel, Hosted channels are fully private because preimage generation, onion formation, and route finding all still happen on the client side, whilst the Host (routing Node) holds the funds and does the job of forwarding payments for the client.
Valet Bitcoin is a wallet software that currently runs on Immortan Library and Hosted channels, forked and maintained by @Standard Sats.
Learn more about Immortan Library and Hosted channels by checking out the project GitHub links:
IMMORTAN LIBRARY: https://github.com/standardsats/immortan
HOSTED CHANNELS: https://github.com/standardsats/hosted-channels-rfc
Install Valet from @F-Droid, @Zapstore, or directly from GitHub, and try out Hosted channels: https://github.com/standardsats/valet/releases.
We invite everyone to join the discussions and contribute to this project. Join us on Telegram chat, where we share insights and build this together: https://t.me/StandardSatsCommunity
Big shout out to the organizers of #bitdev #Abuja for the opportunity to share our work with the community, and particularly @Btrust, for powering these interactive and impactful metups across multiple cities in Africa.
#bitcoin #bitdev #lightning
Future retail Bitcoin: Banks hold the real UTXOs, you get their custodial L2 wrapper.
‘Buy BTC’ = buy bank permission slip.
Self-custody was the flex. Most will never know.
https://blossom.primal....
Unfortunately, everyone will not self-custody Bitcoin, and that is fine.
The ultimate thing is that, if and when banks begin to use Bitcoin as the reserve asset for issuing paper currencies (e-cash, Fiat-channels assets), they'll hardly ever run fractional banking, and if they do, they'll be at risk of irredeemable bank run since there wouldn't be the Fed back-stop to fall on because the Fed can't mint more Bitcoins.
Users will be more attracted to banks running full reserve banking. Also, banks who run fractional banking to the level it is done today, may have to ensure that their users are consenting to the fractional banking practice, and that they understand the risk. This also means that users who choose to take the risk will benefit adequately in the reward via good deposit interests unlike pennies being handed out today.
The ultimate thing is that, if and when banks begin to use Bitcoin as the reserve asset for issuing paper currencies (e-cash, Fiat-channels assets), they'll hardly ever run fractional banking, and if they do, they'll be at risk of irredeemable bank run since there wouldn't be the Fed back-stop to fall on because the Fed can't mint more Bitcoins.
Users will be more attracted to banks running full reserve banking. Also, banks who run fractional banking to the level it is done today, may have to ensure that their users are consenting to the fractional banking practice, and that they understand the risk. This also means that users who choose to take the risk will benefit adequately in the reward via good deposit interests unlike pennies being handed out today.
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The onus is frankly on the suppliers of good and services to demand Bitcoin and reject fiat. That's how Thier's law works.
I'm happy to spend Bitcoin with Bitcoiners' businesses, but if Amazon starte...
> The onus is frankly on the suppliers of good and services to demand Bitcoin and reject fiat. That's how Thier's law works.
This!!!!!! 👆
If merchants actively demand Bitcoin even as one of the payment options, then more Bitcoiners will be willing to spend it.
And no, it is not demanding it, and immediately converting it to Fiat.
If so, people will rather just pay with Fiat.
However, the next best way to make Bitcoin money is to make it the base asset powering Fiat monetary value, like what we did with Fiat Lightning channels, here: https://standardsats.github.io/
Protocol Implementation: https://github.com/standardsats/fiat-channels-rfc
This!!!!!! 👆
If merchants actively demand Bitcoin even as one of the payment options, then more Bitcoiners will be willing to spend it.
And no, it is not demanding it, and immediately converting it to Fiat.
If so, people will rather just pay with Fiat.
However, the next best way to make Bitcoin money is to make it the base asset powering Fiat monetary value, like what we did with Fiat Lightning channels, here: https://standardsats.github.io/
Protocol Implementation: https://github.com/standardsats/fiat-channels-rfc
the state of bitcoiners 2026:
> "bItcCoiN iS mOneY"
> never uses bitcoin as money
- Not enough merchants are willing to accept Bitcoin
Or
- Not enough Bitcoiners are willing to spend Bitcoin
Which is the problem?
Or
- Not enough Bitcoiners are willing to spend Bitcoin
Which is the problem?
2
Agreed, gotta get Bitcoin into the hands of regular people and then educate them on what it's worth
Valet Bitcoin wallet is a great tool for this!!
A lightweight self-custodial Bitcoin/Lightning wallet that can run on any version of Android device, even as old as Android version 8.
Valet is available on @Zapstore and @F-Droid
Also easily downloadable from GitHub: https://github.com/standardsats/valet/releases
A lightweight self-custodial Bitcoin/Lightning wallet that can run on any version of Android device, even as old as Android version 8.
Valet is available on @Zapstore and @F-Droid
Also easily downloadable from GitHub: https://github.com/standardsats/valet/releases
And? I don't give a damn if institutions adopt it, institutions only damage Bitcoin.
What matters is that Bitcoiners themselves adopt it, since 99% of those who call themselves Bitcoiners have neithe...
The best way to get actual humans to adopt Bitcoin is to make every aspect of it easily accessible on mobile devices.
Mobile penetration is the easiest route to an exponential human Bitcoin adoption.
IMMORTAN Library is a mobile-focused lightning library that makes it possible to have lightweight lightning nodes on Android devices. Ensuring that people can set up and use Lightning in self-custodial mode with very few resources and less node management headache.
Immortan Library is robust, with extra privacy features via private channels and rotating node IDs.
Nodes do not depend on any custodial setup or LSP cloud service to open channels and perfom other Lightning activities.
Valet Bitcoin wallet, on the other hand, is an Android self-custodial Bitcoin/Lightning wallet where IMMORTAN library has been implemented and is functional.
Valet is the fork of the Simple Bitcoin wallet (SBW), which no longer supports Lightning.
More mobile wallet developers should be able to adopt these technologies in order to make Bitcoin accessible to normal users. This is what would scale wide self-custodial Bitcoin adoption.
For instance, anybody who wants to fully live on a Bitcoin standard without ever interacting with the Fiat rails could do this by just downloading and using Valet.
Valet has
- Bitcoin on-chain wallets
- Self-custodial Lightning nodes - robust with an advanced build to drastically reduce forced channel closures.
- Real-time Lightning usage volume data tracking
- Hosted channels - A community-focused, custodial, and anonymous lightning channel protocol specification that enables fast and cost-effective onboarding to Lightning.
- Fiat channels - particularly designed for merchants and users who do not want to bear the challenges of Bitcoin volatility. Fiat channels are a type of custodial lightning channel that preserves the Fiat value of sats received on this channel via a hedge mechanism on the Host side. PS: Anyone can self-run a node and be a Host to themselves.
The community must adopt these approaches to improve Bitcoin's adoption and get tools like Valet more popular and in the hands of normal people.
Links:
IMMORTAN: https://github.com/standardsats/immortan
VALET: https://github.com/standardsats/valet/releases
HOSTED CHANNELS: https://github.com/standardsats/hosted-channels-rfc
FIAT CHANNELS: https://github.com/standardsats/fiat-channels-rfc
Mobile penetration is the easiest route to an exponential human Bitcoin adoption.
IMMORTAN Library is a mobile-focused lightning library that makes it possible to have lightweight lightning nodes on Android devices. Ensuring that people can set up and use Lightning in self-custodial mode with very few resources and less node management headache.
Immortan Library is robust, with extra privacy features via private channels and rotating node IDs.
Nodes do not depend on any custodial setup or LSP cloud service to open channels and perfom other Lightning activities.
Valet Bitcoin wallet, on the other hand, is an Android self-custodial Bitcoin/Lightning wallet where IMMORTAN library has been implemented and is functional.
Valet is the fork of the Simple Bitcoin wallet (SBW), which no longer supports Lightning.
More mobile wallet developers should be able to adopt these technologies in order to make Bitcoin accessible to normal users. This is what would scale wide self-custodial Bitcoin adoption.
For instance, anybody who wants to fully live on a Bitcoin standard without ever interacting with the Fiat rails could do this by just downloading and using Valet.
Valet has
- Bitcoin on-chain wallets
- Self-custodial Lightning nodes - robust with an advanced build to drastically reduce forced channel closures.
- Real-time Lightning usage volume data tracking
- Hosted channels - A community-focused, custodial, and anonymous lightning channel protocol specification that enables fast and cost-effective onboarding to Lightning.
- Fiat channels - particularly designed for merchants and users who do not want to bear the challenges of Bitcoin volatility. Fiat channels are a type of custodial lightning channel that preserves the Fiat value of sats received on this channel via a hedge mechanism on the Host side. PS: Anyone can self-run a node and be a Host to themselves.
The community must adopt these approaches to improve Bitcoin's adoption and get tools like Valet more popular and in the hands of normal people.
Links:
IMMORTAN: https://github.com/standardsats/immortan
VALET: https://github.com/standardsats/valet/releases
HOSTED CHANNELS: https://github.com/standardsats/hosted-channels-rfc
FIAT CHANNELS: https://github.com/standardsats/fiat-channels-rfc
If you see this note, it’s a sign that you need to start a Bitcoin podcast.
Had a killer time with nostr:npub153xmex42x4chdf757hp3q6zxagykkek7pdgwuwd074964dkyha9s82ryu8 on nostr:npub1pdm6f4kvr7se...
Walker, we'd love to come on your podcast and talk about IMMORTAN library (mobile-focused Lightning library) and a bit about the Simple Bitcoin Wallet History.
It's also not like a stock, and more like gold, as it is not a productive asset. without market value fluctuation, both bold and cryptos aren't producing value. Maybe it's good to have such a thing.
...
Going back to a gold standard is like going back to riding horses and carts in this automobile era.
God is not easily divisible, moveable across space and time, can easily be counterfeited (hence requiring trusted verifiers).
Even if the central banks decide to use it as reserve asset backing their currencies, auditing their reserves is as good as impossible, which means we'd easily slip back to bastardized debasement/dilution, which would gradually lad to inflation again.
Whatever a select group of humans has sole control over can never be fully trusted.
God is not easily divisible, moveable across space and time, can easily be counterfeited (hence requiring trusted verifiers).
Even if the central banks decide to use it as reserve asset backing their currencies, auditing their reserves is as good as impossible, which means we'd easily slip back to bastardized debasement/dilution, which would gradually lad to inflation again.
Whatever a select group of humans has sole control over can never be fully trusted.
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Bitcoin is not digital gold.
Gold was mentioned twice in the white paper in relation to how new Bitcoin is created, and how it is similar to how gold is added to the market.
https://youtu.be/6Eczl2J...
Bitcoin is Money!!!
Bitcoin is the 119th element on the periodic table existing just for the purpose of moving any kind of value.
Bitcoin is the 119th element on the periodic table existing just for the purpose of moving any kind of value.
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