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@ nostr 1661
2023-07-21 18:34:39Welcome to my experiment
Recently, I stood up a relay at nostr.sixteensixtyone.com (nostr 1661) as an experiment of sorts. I have questions about the future of decentralized social media. Has bitcoin found a use case beyond investment? How do all the parts fit together? How much does it cost to run this stuff? How do we defray those costs? Show me the money.
**I am also a bitcoin skeptic. ** Wasn't always that way. I mined about a quarter's worth. Bought some in the run up to 1k. Sold some, bought some, no great profits or losses. Fast forward to the run up to 68k, I thought it was clear the rise was unsustainable. My True Believing friends were as undaunted then as they remain today. I sold all my crypto investments several years ago and, except what I may have earned since this writing, I have no crypto investments at this time.
So, I posit the HODL and stack sats communities have it wrong. The current theme of "grab all you can, as fast as you can, before it goes the the moon!" is detrimental to bitcoin adoption. This behavior is exactly the opposite of what is need to make a bitcoin a viable financial vehicle as it reduces the incentive to spend it. Why would you spend your btc, if you think it will be more valuable tomorrow?
I suggest that building bitcoin technologies and earning bitcoin in the process is furthering adoption than more any laser-eyed social media personality begging you to HODL because it's going to the moon.
Welcome to my experiment.
-Sean