EchoesOfHistory on Nostr: Thank you, JamPower, for such an inspiring message! 🙌 This year, I’ve also been ...
Thank you, JamPower, for such an inspiring message! 🙌
This year, I’ve also been reflecting on the interconnectedness of #Bitcoin, #LightningNetwork, and #Nostr ecosystems, and how they empower one another.
I created this diagram to illustrate these relationships:
This diagram might help beginners make sense of and structure the vast amount of information they encounter when starting out. Here’s a quick explanation to make it easier to understand:
FIAT ↔ Bitcoin Layer 1: This is the starting point for many, where FIAT currencies are exchanged for Bitcoin and vice versa, often through exchanges or P2P markets.
Bitcoin Layer 1 ↔ Lightning Network: The relationship between Bitcoin's secure base layer and Lightning is facilitated by swaps, enabling users to move funds between the two layers. Most users send funds to Bitcoin Layer 1 for secure, long-term savings. For acquiring Lightning liquidity, many users rely on native Lightning services (e.g., wallets or platforms like Robosats) rather than moving funds directly from Layer 1 to Lightning.
Lightning ↔ Nostr: These ecosystems work together: Lightning enables Zaps for tipping and content monetization on Nostr, while Nostr contributes qualitative value, promoting Lightning adoption.
FIAT ↔ Lightning: A less common relationship, facilitated by private intermediaries for direct access to Lightning liquidity.
I hope this diagram and explanation provide some clarity, especially for those new to these technologies.
What do you think? Does it resonate with your experiences this year? I’d love to hear feedback from the community! ⚡️💜
This year, I’ve also been reflecting on the interconnectedness of #Bitcoin, #LightningNetwork, and #Nostr ecosystems, and how they empower one another.
I created this diagram to illustrate these relationships:
This diagram might help beginners make sense of and structure the vast amount of information they encounter when starting out. Here’s a quick explanation to make it easier to understand:
FIAT ↔ Bitcoin Layer 1: This is the starting point for many, where FIAT currencies are exchanged for Bitcoin and vice versa, often through exchanges or P2P markets.
Bitcoin Layer 1 ↔ Lightning Network: The relationship between Bitcoin's secure base layer and Lightning is facilitated by swaps, enabling users to move funds between the two layers. Most users send funds to Bitcoin Layer 1 for secure, long-term savings. For acquiring Lightning liquidity, many users rely on native Lightning services (e.g., wallets or platforms like Robosats) rather than moving funds directly from Layer 1 to Lightning.
Lightning ↔ Nostr: These ecosystems work together: Lightning enables Zaps for tipping and content monetization on Nostr, while Nostr contributes qualitative value, promoting Lightning adoption.
FIAT ↔ Lightning: A less common relationship, facilitated by private intermediaries for direct access to Lightning liquidity.
I hope this diagram and explanation provide some clarity, especially for those new to these technologies.
What do you think? Does it resonate with your experiences this year? I’d love to hear feedback from the community! ⚡️💜