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Welcome to The Bitcoin Street Journal Bitcoin Market Update! We bring you current and live bitcoin headline news, market updates, technical analysis, BTC price, market capitalization and market supply data. Join us on The Daily Diary of the Bitcoin Dream for breaking news, business updates, financial and economic news everyday.

Welcome to The Bitcoin Street Journal Bitcoin Market Update! We bring you current and live bitcoin headline news, market updates, technical analysis, BTC price, market capitalization and market supply data. Join us on The Daily Diary of the Bitcoin Dream for breaking news, business updates, financial and economic news everyday.

What is Nostr? Nostr stands for “Notes and Other Stuff Transmitted by Relays”. Like HTTP, FTP or TCP-IP, Nostr is a protocol; an open standard upon which anyone can design, develop and build. Nostr itself is not an app or service that you sign up for. Nostr is designed for simplicity and enables censorship-resistant and globally decentralized publishing on the web. Lets dive into Nostr! Welcome to The Bitcoin Street Journal Bitcoin Market Update podcast, your daily source for live updates on the bitcoin market. Join us as we delve into current bitcoin technical analysis, track bitcoin (BTC) prices, explore market capitalization trends, and analyze market supply. Stay ahead of the curve with our comprehensive coverage of the ever-evolving world of bitcoin. In today's episode, we'll cover the topics of creating a censorship-resistant social network without relying on central servers, the issues faced by Mastodon and SSB's complicated protocol, how Nostr uses clients and relays for censorship-resistance, the unique features that set Nostr apart from other social networks, and the process of finding people to follow in a Nostr social network. Hey there! Let me tell you about nostr - Notes and Other Stuff Transmitted by Relays. It's a super cool open protocol that aims to create a global "social" network that is resistant to censorship once and for all. And the best part? It doesn't rely on any trusted central server, making it resilient and secure. So how does it work? Well, it's all based on cryptographic keys and signatures, making it tamperproof. You and everyone else who wants to be part of nostr runs a client, which can be a native client or a web client. When you want to publish something, you simply write a post, sign it with your key, and send it to multiple relays. These relays are servers hosted by someone else or even yourself. Now, when you want to get updates from other people, you ask multiple relays if they know anything about these other people. The cool thing is that anyone can run a relay, and they're super simple and dumb - they accept posts from some people and forward them to others. And the best part is that you don't have to trust these relays. The client side verifies the signatures, ensuring that your messages aren't tampered with. Now, if you're eager to start using Nostr, there are a few handy resources you should check out. First, you'll find a Telegram group where you can join and get involved in the ongoing work. It's a great place to connect with others who are passionate about this project. If you're wondering about the features of the Nostr client, we have a nifty comparison chart to help you out. It highlights the different functionalities of the native and web clients, making it easier for you to choose the one that suits your needs. And to give you a taste of the awesomeness built on Nostr, there's a handy list of projects that have been developed using this open protocol. It's amazing to see the innovation and creativity that has sprung from this community. So why is Nostr needed anyway? Well, let's talk about the problems with Twitter. First and foremost, Twitter bombards us with ads. It can get pretty annoying when you're trying to scroll through your feed and all you see are sponsored posts. Nostr, on the other hand, focuses on providing a clean and uninterrupted user experience. Another issue with Twitter is its strange techniques to keep us addicted. The constant notifications, the algorithmic timeline, and the never-ending scroll - all designed to keep us hooked. Nostr takes a different approach, putting control back into the hands of the users. And let's not forget about Twitter's lackluster historical feed from people you follow. It doesn't show you a complete and chronological timeline of their posts, making it hard to catch up on what you've missed. With Nostr, you can rest assured that you'll get an actual historical feed, making it easier to stay up to date with the people you follow. Now, one of the most frustrating aspects of Twitter is its penchant for banning people. It's disheartening to see individuals being silenced for expressing their thoughts and opinions. Nostr stands against such censorship, providing a platform where freedom of speech is respected. To make matters worse, Twitter sometimes resorts to shadowbanning, which means suppressing the reach of certain users without their knowledge. It's a sneaky tactic that Nostr avoids completely, ensuring that every user's voice is heard loud and clear. Lastly, let's not forget about the never-ending deluge of spam on Twitter. Whether it's bots promoting questionable content or endless self-promotion, it can be a cesspool of unwanted noise. Nostr takes spam seriously and aims to provide a clean and spam-free environment for users to connect and share ideas. So there you have it, a quick rundown of nostr - the open protocol that aims to revolutionize the way we experience social networking. If you're tired of the issues plaguing traditional platforms like Twitter, Nostr might just be the fresh breath of air you've been looking for. Get involved, join the conversation, and be part of the movement towards a censorship-resistant global "social" network. So today, let's talk about some of the problems with Mastodon and similar programs. Now, when it comes to these platforms, one of the main issues is that user identities are attached to domain names controlled by third-parties. This means that you are dependent on another entity to maintain your online presence. And as we all know, server owners have the power to ban users, just like Twitter does. So even on these alternative platforms, you're not completely free from the possibility of being blocked or silenced by someone in control. In addition to that, server owners also have the ability to block other servers. This creates a fragmented environment where communication and interaction can be severely limited. And if you're someone who values the freedom to migrate between different servers, well, that's where the problems arise. Migration between servers is not a seamless process and can only be accomplished if the servers cooperate. This means that if servers are in an adversarial environment, all of your followers can be lost. It's like starting from scratch every time you switch servers, and that's definitely not ideal. Moreover, there are no clear incentives for people to run servers. As a result, the task often falls into the hands of enthusiasts or individuals who simply want their name attached to a cool domain. Now, the issue with this is that users then become subject to the despotism of a single person. In some cases, this can be even worse than what you experience on platforms like Twitter, where at least there are some rules and regulations in place. And to make matters worse, users can't easily migrate out of these situations because of the lack of server interoperability. Furthermore, since servers tend to be run amateurishly, they are often abandoned after a while. This is effectively the same as banning everybody because once a server goes offline, all of the users lose their access. So it's not a sustainable solution in the long run. Now, let's talk about the data aspect. Having a ton of servers can be problematic when it comes to updates. If every server needs to push and save updates to multiple other servers, it becomes a cumbersome process. And when you factor in the large number of servers that exist, it means that more data has to be passed to more places more often. This creates a strain on the entire system and can lead to inefficiencies. To illustrate this point further, let's look at the specific example of video sharing. ActivityPub enthusiasts realized that transmitting videos from server to server the same way text notes are transmitted would be completely impossible. So they decided to keep the videos hosted only on the instance where they were originally posted. This is similar to the Nostr approach, where content remains centralized. While this may solve the problem of video transmission, it also limits the decentralized nature of these platforms. Now, let's move on to discussing the issues with Secure Scuttlebutt (SSB). While there aren't as many problems with SSB compared to other alternatives, there are still some key concerns. One of the primary issues is that the protocol is quite complicated. It wasn't initially designed to be an open protocol but rather grew organically from a quick solution to a specific problem. As a result, it has some strange and unnecessary quirks, like signing a JSON string that strictly follows the rules of ECMA-262 6th Edition. This complexity can create challenges for adoption and usage. Another aspect of SSB that some users find unnecessary is the insistence on having a chain of updates from a single user. This adds bloat and rigidity to the platform because each server and user must store the entire chain of posts to ensure the validity of new ones. While there may be reasons for this approach, it can feel burdensome for users who simply want a more streamlined experience. Despite these concerns, SSB does have some advantages, particularly in its peer-to-peer syncing capabilities. However, it may be worth considering using SSB as a basis and adapting it to the client-relay server model. By doing so, we can leverage the benefits of an established standard while still aligning with the desired characteristics of a decentralized platform. Lastly, let's briefly touch on the challenges that arise when everyone is expected to run their own server. While this approach can provide a high level of control and autonomy, it also presents its own set of issues. For one, it requires everybody to have the technical expertise and resources to set up and maintain their own server. Additionally, even if individuals have their own servers, censorship can still occur if domain names are censored or blocked. In conclusion, while alternatives like Mastodon and SSB offer promising avenues for decentralization and freedom from corporate control, they also come with their own set of challenges. From the dependence on third-party domain names to server owner censorship and the lack of incentives for server maintenance, there are various obstacles to overcome. Finding a sustainable solution that addresses these issues while still preserving the benefits of a decentralized platform remains a complex task. Nonetheless, the ongoing exploration and development in this field hold promise for a more open and inclusive digital landscape. So, how does Nostr work? Well, it's made up of two core components: clients and relays. Every user runs a client, and anyone can run a relay. Each user is identified by a public key, and every post in Nostr is signed. To ensure the authenticity of the posts, every client validates these signatures. Now, let's dive into how clients and relays interact within the Nostr network. Clients fetch data from the relays they choose, and they also have the ability to publish data to other relays of their choice. It's important to note here that a relay doesn't communicate directly with another relay; it only interacts directly with users. For example, let's say you want to "follow" someone's posts on Nostr. All you have to do is instruct your client to query the relays you know for posts from that specific public key. This allows you to stay updated with the posts from the users you follow. When a client starts up, it queries data from all the relays it knows for all the users it follows. This could include all updates from the last day, for instance. Once the data is fetched, the client then displays it to the user in a chronological order. A "post" on Nostr can contain any kind of structured data. However, the most commonly used post formats will eventually be standardized so that all clients and relays can seamlessly handle them. Now, let's explore how Nostr solves some of the problems that other networks struggle with, such as users getting banned and servers being closed. In Nostr, a relay can block a user from publishing anything on that specific relay. However, this doesn't mean that the user loses their identity or their follower base. Since each user is identified by a public key, even if they get banned from one relay, they can still publish their posts on other relays. To make the process of switching relays easier, Nostr allows users to automatically add relay addresses recommended by the users they follow to their list of relays. This means that whenever someone you follow suggests a new relay, your client will automatically include it in the relays it queries. If someone wants to migrate from one relay to another, they can simply publish a server recommendation to the previous relay and make the switch. Even if a user gets banned from multiple relays and can't broadcast their server recommendations, they can still inform a few close friends through other means about the new relay they are using. These friends can then publish the server recommendations to the new relay, helping the banned user rebuild their follower base. The same process applies if a relay ceases its operations. Users can continue to publish their updates on other relays and gradually inform their followers about the new relay through server recommendations. Nostr also prioritizes censorship-resistance. Every user has the freedom to publish their updates to any number of relays. Relays can charge a fee for users to publish there, ensuring censorship-resistance. In other words, even if certain relays might be inclined to censor content, there will always be options available, including servers in countries like Russia that may be more willing to accept your money in exchange for serving your posts. Overall, Nostr's design allows for users to have control over their content and identity, even when facing bans and server closures. It fosters a decentralized and censorship-resistant environment where users can freely exchange information and connect with their followers. So let's talk about spam. We all know how annoying and frustrating it can be, right? Well, in Nostr, there are a few measures in place to tackle this issue. One way is to require some sort of authentication, such as an email address or phone number, before allowing publication on a relay. This ensures that only legitimate users can post their content. Additionally, spam can also be prevented by utilizing other anti-spam techniques like hashcash or captchas. These methods help to filter out unwanted spam and keep the network clean. Now, when it comes to the number of active relays needed for the network to function properly, it's actually not as many as you may think. In fact, just a handful of relays can do the job just fine. The beauty of Nostr lies in its ability to easily create and spread new relays throughout the network if needed. So, even if some relays start misbehaving, new ones can be quickly brought in to maintain a healthy network. This means that the amount of data storage required is relatively less compared to other similar software like Mastodon. But, what if we consider a different scenario? One where there are hundreds of niche relays run by amateurs, each relaying updates from a small group of users. Well, even in this case, the architecture of Nostr is quite scalable. Data can be sent from users to a single server, and from there, directly to the users who need that information. It doesn't have to be stored by anyone else. This means that even if there are numerous amateur servers in the mix, it's not a burden for any single server to handle updates from others. So, having amateur servers is not an issue at all. Now, let's turn our attention to video and other heavy content that may be shared on Nostr. The platform makes it easy for a relay to reject large content or charge for accepting and hosting such content. By making the information and incentives clear, market forces can play a role in solving this problem. Users who want to post heavy content would need to pay for its hosting, ensuring that only those who are willing to invest in it can do so. This approach helps to control the flow of large files and prevents any potential overload on the network. When it comes to tricking users, Nostr gives the power back to the clients. Each client can decide how they want to show posts to users. Whether it's through an AI algorithm that decides the order of updates or simply displaying them chronologically, the choice is in the hands of the user. This level of customization ensures that users have control over the content they consume and how it is presented to them. Finally, let's address the question of why no one has done something like Nostr before. Well, it could be because social networks are typically developed by companies aiming to make money or by P2P activists who want to create a serverless network. In both cases, they fail to see the unique combination of both worlds that Nostr brings to the table. Nostr strikes a balance between being a decentralized network and providing a user-friendly experience, something that hasn't been fully explored before. And there you have it. Nostr takes a proactive approach to combat spam, ensures scalability with a limited number of relays, handles heavy content effectively, gives users control over their feed, and brings a much-needed blend of decentralization and convenience to the social networking space. No wonder it's making waves in the world of social media. Finding people to follow on a social network can be an exciting step towards building your online community. So, how exactly do you go about finding these individuals? Well, the first thing you need is to know them and somehow obtain their public key. This can be done by asking them directly or by discovering their public key referenced somewhere on the platform. Once you are inside a Nostr social network, you can start exploring and interacting with others. You'll be able to see the people you know already following and interacting with each other, which can give you a starting point. From there, you can begin to follow and engage with these individuals as well. Now, let's talk about relays. How do you find them, and what happens if you are not connected to the same relay as someone else? Relays play a crucial role in facilitating communication between users on a social network. They act as intermediaries, allowing data to be transferred between users who may not be directly connected. If you are not connected to the same relay as another individual, you won't be able to communicate with them directly. However, there are ways to address this limitation. Nostr provides hints on events that can be used to enable your client software or even manually connect to the other person's relay and interact with them. This helps overcome the challenge of not being connected to the same relay. It is important to note that while there may be ideas on how to further improve this in the future, it is impossible to promise perfect reachability for every user. No protocol can guarantee seamless connectivity in all situations. Now, let's discuss if you can know how many people are following you on a social network. Unfortunately, you do not have direct access to this information. However, if relays cooperate outside of the protocol, you may be able to gather some estimates. This extra-protocol cooperation can provide you with insights into the number of people following you. Moving on to the question of what incentives there are for individuals to run relays. It is important to note that the assumption behind this question is somewhat misleading. Relays are not merely "dumb pipes" that exist solely for the purpose of data transfer. In the context of Nostr, relays serve as essential infrastructure for the social network. They enable communication and data exchange between users. Incentives for running relays can vary depending on the specific context and goals of the social network. However, it is important to understand that relays are more than just providers for moving data. The comparison to DHT nodes in other peer-to-peer networks is relevant here. In those networks, similar questions arise: What incentives do people have to run DHT nodes? The answer lies in the functionality and benefits that these nodes bring to the network, beyond acting as mere data carriers. Now, let's address the question of using different server relays and the difference between using relays on platforms like AWS or Azure. It is important to note that there are numerous VPS (Virtual Private Server) providers available worldwide, not just limited to AWS or Azure. While AWS and Azure are popular choices for large-scale centralized service providers, they are not the only options. For smaller relay servers, any VPS provider can effectively serve the purpose. Nostr allows users to switch between server relays or even utilize multiple relays. The key difference lies in the underlying infrastructure and the specific needs of the social network. Whether a relay is hosted on AWS, Azure, or any other VPS provider, the primary consideration is that it is capable of efficiently handling the network's requirements. Now, if you are looking for more detailed information about the Nostr protocol, you can explore the NIPs (Nostr Improvement Proposals) and specifically refer to NIP-01. This provides a reasonably-detailed explanation of the protocol specification. It's worth mentioning that the protocol specification is concise, short, and relatively straightforward. Lastly, if you are interested in the software being built using Nostr, you can find a comprehensive list on GitHub. The repository, https://github.com/aljazceru/awesome-nostr, contains an almost complete compilation of the software projects utilizing Nostr. Remember, these are the key aspects to consider when it comes to finding people to follow, understanding relays, and exploring the Nostr protocol and software ecosystem. Join the conversation and discover new connections in the Nostr social network. Today's episode covered the creation of a censorship-resistant social network using Nostr protocol, highlighting its advantages over Mastodon and SSB, the role of clients and relays, and the unique features that set Nostr apart, including spam prevention and user customization. Thanks for listening to today's episode, I'll see you guys at the next one and don't forget to subscribe!

Welcome to The Bitcoin Street Journal Bitcoin Market Update! We bring you current and live bitcoin headline news, market updates, technical analysis, BTC price, market capitalization and market supply data. Join us on The Daily Diary of the Bitcoin Dream for breaking news, business updates, financial and economic news everyday.

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The Bitcoin Street Journal Market Update The Daily Diary of the Bitcoin Dream. Breaking Bitcoin News, Bitcoin Business, Bitcoin Financial & Economic News, Bitcoin World News & Video. https://thebitcoinstreetjournal.com https://twitter.com/BTCstJournal https://www.facebook.com/bitcoinstreetjournal https://rumble.com/c/TheBitcoinStreetJournal https://twitch.com/TheBitcoinStreetJournal https://dlive.tv/BTCPrice Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither TheBitcoinStreetJournal.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. This is not trading or investment advice. This presentation is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. Always remember that only those in possession of their own private keys are in control of their own “bitcoin.” If you enjoy this type of content please smash the like and subscribe buttons below it helps us to get more views and continues to spread the word about Bitcoin. Thanks again. See you with more bitcoin headline news and analysis soon!

The Bitcoin Street Journal Market Update The Daily Diary of the Bitcoin Dream. Breaking Bitcoin News, Bitcoin Business, Bitcoin Financial & Economic News, Bitcoin World News & Video. https://thebitcoinstreetjournal.com https://twitter.com/BTCstJournal https://www.facebook.com/bitcoinstreetjournal https://rumble.com/c/TheBitcoinStreetJournal https://twitch.com/TheBitcoinStreetJournal https://dlive.tv/BTCPrice Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither TheBitcoinStreetJournal.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. This is not trading or investment advice. This presentation is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. Always remember that only those in possession of their own private keys are in control of their own “bitcoin.” If you enjoy this type of content please smash the like and subscribe buttons below it helps us to get more views and continues to spread the word about Bitcoin. Thanks again. See you with more bitcoin headline news and analysis soon!

The Bitcoin Street Journal Market Update The Daily Diary of the Bitcoin Dream. Breaking Bitcoin News, Bitcoin Business, Bitcoin Financial & Economic News, Bitcoin World News & Video. https://thebitcoinstreetjournal.com https://twitter.com/BTCstJournal https://www.facebook.com/bitcoinstreetjournal Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither TheBitcoinStreetJournal.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader.This is not trading or investment advice. This presentation is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. Always remember that only those in possession of their own private keys are in control of their own “bitcoin.” If you enjoy this type of content please smash the like and subscribe buttons below it helps us to get more views and continues to spread the word about Bitcoin. Thanks again. See you with more bitcoin headline news and analysis soon!

The Bitcoin Street Journal Market Update The Daily Diary of the Bitcoin Dream. Breaking Bitcoin News, Bitcoin Business, Bitcoin Financial & Economic News, Bitcoin World News & Video. https://thebitcoinstreetjournal.com https://twitter.com/BTCstJournal https://www.facebook.com/bitcoinstreetjournal Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither TheBitcoinStreetJournal.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader.This is not trading or investment advice. This presentation is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. Always remember that only those in possession of their own private keys are in control of their own “bitcoin.” If you enjoy this type of content please smash the like and subscribe buttons below it helps us to get more views and continues to spread the word about Bitcoin. Thanks again. See you with more bitcoin headline news and analysis soon!

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