https://nostr.com/ ?

Funnily enough you can use Bitcoin at most merchants that use a Square PoS device, which is like 25% of merchants in the US. It just takes time for folks to change their behaviors. And why would they, if they're getting X% cashback on all purchases using their credit cards?

We've witness deflationary forces in computer hw for decades and no one is holding off their purchases. Time is scarce and it ultimately forces consumption because otherwise, what would you be saving for?

Don't need Econ 101 to understand this basic reality.

Well there is a difference between people not buying anything at all and being significantly less than they are now. Consumer goods and services is only the tip of the iceberg.

How much do you think debt would cost and how easy would it be for businesses to get credit?

Combining a deflationary currency with a growing (or at least non static) economy is bad a everyone who has a basic understanding of history prior to the 1930s can see that. Something like bitcoin would be even much worse than the gold standard.

You're forcing business to produce something valuable in real terms instead of nominal terms and you're making that calculation easier to do for economic actors because the measuring stick is now controlled by an algorithm as opposed to charlatans.

Having less of that garbage fiat short-termism is a good thing for society.

> Having less of that garbage fiat short-termism

Yet having more of endless boom and bust cycles with major economic depressions lasting for years (outcomes of the gold standard was a good idea).

> You're forcing business to produce something valuable in real terms instead of nominal terms

I don't quite understand what does that mean. Pricing goods in oil or grain? (coincidentally either of which would function better as a currency than bitcoin).

Computer hardware isn't trying to be currency. Bitcoin was supposed to be, but hardly anyone who uses Bitcoin these days is using it to buy things--it's used as a store of value or a speculative asset, not a means of transaction.

Computer hardware actually does things - it is an economic value producer.

Bitcoin is an economic value consumer just to hold it. It does nothing if you have it.

It very much came from the Bitcoin world and was sold as a way to run your own node. Great experience if you’re into that but it’s nothing that is forced on you, they’re just “apps” like everything else you can install on it.

I run an umbrel on an off the shelf mini pc and it’s been great! Very polished and nice experience!

Is FastAPI just bad with SQLite? I would have expected SQLite to smoke Postgres in terms of ops/s.

I think Python is bad in general if you want “high-performance”

SQLite is in process, but concurrent write / performance is a complex matter : https://sqlite.org/wal.html

Yes, that's why I would expect it to smoke Postgres here, in process is orders of magnitude faster. Do you really need concurrency here when you can do 10-100k+ inserts per second?

If 100k users each hit purchase button at the same time will sqlite write it in 1 second?

This is different than 1 user doing the purchase for 100k fans

I mean it depends on the query and what you're doing of course, but it's not impossible to reach writes/s in the 80k range.

Also surprised. My yardstick was this post which showed SQLite beating Postgres in a Django app. Benchmarking is hard, and the author said the Postgres results were not tuned to the same degree as SQLite, so buyer beware. https://blog.pecar.me/django-sqlite-benchmark

Like GP I haven't experienced many WebView based apps that are great so I had to give this a spin and I have to say it's actually pretty good! I would not have identified this as a WebView app if I didn't already know about it from this comment.

It boggles my mind that people like this don't set up multi-sig wallets using hardware devices that are physically not in the same location.

See my other comment in the thread.

In my experience, folks who dabble in crypto and even seasoned users always underestimate how hard and tricky of a problem proper self-custody actually is.

And when they do think about it, it's always too late.

And by the way, multi-sig is not the only thing you want to be thinking about.

Cold walletting is another that most people miss.

Also, avoiding concentrating a large number of coins on a small number of addresses (not that I know this was done in the cast of this scam) is another thing most people miss when in fact this was from day one listed as bad practice by IIRC Satoshi himself.

And finally, to mention the standard counter-argument to self-custody: the $5 pipe wrench attack only works if the attackers know the coins exist.

For those interested in plumbing the depth of the problem, the glacier protocol is a good place to start:

https://glacierprotocol.org/

Unless the criminals used the Lightning Network of course, not likely though since the amount is so large.

That doesn't appear to be how they seized the funds though, the criminal hasn't been caught so they must have hacked his devices to gain access to the private keys. No $5 wrench involved.

It’s probably a computer hack of some sort that led to accessing the wallet password etc.

I bet somebody wrote down their password, too scared of what would happen to them if they were to forget it.

I assume by wrote down you mean they saved it in a file somewhere. Amusing to think it would have been safe from that kind of hack if they'd written it on a post it node and stuck it on the bottom of their keyboard.

Nah, you know he had his wallet backed up to his My Documents folder as json…

not a sticky note on the desktop?

Which just goes to show that custody is a hard and almost always under-estimated problem.

It is, but it's not so hard that you can't figure it out to keep your 15 billion safe.

Well these guys apparently didn't manage that.

There is no honor among pig butchers.

There is no honor among people in general.

Sorry you've not met enough honorable people to have that level of cynicism.

It's much harder to keep things safe under rule of villains than rule of law.

He's talking about Nostr here, not mastodon.

Ah makes more sense thanks. iirc mastadon doesn't have much of an identity migration story, except for using domain control as proof of identity which is kinda neat. I still like DNS and TLDs as a pay-to-play distributed namespace if you're going to have a persistent identity that can travel from server to server, and change hands as property from one owner to another. (I think there is case law on domain names being property, somewhat unique in cyberspace)