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Bitcoin

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Sovereignty Studios

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7 contributions to Bitcoin
Happy Friday, Bitcoiners!
Going into the weekend like: https://youtu.be/fUFnLPblsBg?si=edhrGdeRSsEOPpjT&t=8
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New comment Feb 16
Happy Friday, Bitcoiners!
Central Banking is a Giant Experiment
"The government would have passed from the hands of the many to the few, and this organized money power, from its secret enclave, would have dictated the choice of your highest officials and compelled you to make peace or war, as best suited their own wishes." - Andrew Jackson, 7th president of the US when forbidding the establishing of a central bank in the 1830s. He warned the people about this threat and did not allow money to be monopolized. Our leaders in the 20th century failed to do this. This is why we Bitcoin
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Power Struggle is a Law of Life. Bitcoin makes it non-violent.
I've been diving deep into Jason Lowerys Softwar thesis again and it's one of the most mind blowing things about Bitcoin. Power projection is a fundamental activity in all living beings, even singular cell organisms. You can't not play the game of power projection. We use physical power to project power on land, air, sea and space. Now as humanity is mapping out more and more cyberspace, Bitcoin has introduced a way to project physical power in cyberspace through proof of work. That's an incredible innovation, because it potentially allows us to move more and more disputes into cyberspace and avoid kinetic war. This series is MINDBLOWING https://youtube.com/playlist?list=PL2jAZ0x9H0bSpVxVNIaTEQpWZwY2ZbjCu&si=2o2XcKwE6tYE5W8V
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The Lightning Network Visualized
No one can stop it. Source: https://lnrouter.app/graph
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New comment Jan 29
The Lightning Network Visualized
1 like β€’ Jan 29
@Simon Unknown I think something better will be invented eventually that doesn't require a layer 1 transaction to be completely self-soveirgn. Covenants and sidechains are interesting. Bless the devs!
1 like β€’ Jan 29
@Dominic Mancia Yuup, a ban will only be an annoyance. Trying more and more to learn about ways of routing around regulation. P2P exchanges and stuff like that.
UTXO Management is IMPORTANT! Dont get rekt.
My Video about UTXOs (German) https://www.youtube.com/watch?v=PQpd7aNEXEU What is a UTXO? A UTXO stands for unspent transaction output. You can think of a UTXO as similar to a 50-dollar bill. If you want to buy something for 70 dollars, you need 2 50-dollar bills. A UTXO can only be spent in its entirety; there is no option to spend just a portion of it. Therefore, you would need to send 2 UTXOs to make the purchase with Bitcoin, and you will receive another UTXO back as your change. This is important because the more UTXOs needed for a payment, the larger the transaction becomes, and fees are based on the size of your transaction. The more UTXOs used, the larger the transaction and subsequently higher fees. This is why managing UTXOs is crucial. You can consolidate UTXOs in your wallet by sending them back to yourself, creating new, larger UTXOs. Currently, it's an opportune time for UTXO management as fees have decreased to 30 sat/vb from 600 sat/vb just a few weeks ago. Another risk of not managing UTXOs is the dust limit; if fees become too high, you may be unable to send your Bitcoin because the fee will exceed the value of your UTXOs. I recommend UTXOs in the size of 0.01 BTC - 0.05 BTC
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New comment Jan 27
UTXO Management is IMPORTANT! Dont get rekt.
0 likes β€’ Jan 26
I've heard a minimum of 0.01BTC being recommended. But is there a reason why you give an upper range? Any downsides to having all of your BTC in one UTXO?
1 like β€’ Jan 27
@Simon Unknown Ah, that makes sense
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Mattias Must
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6points to level up
@mattias-must-5174
Videographer, storyteller, producer Building in El Salvador

Active 1d ago
Joined Jan 19, 2024
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