Former U.S. intelligence contractor Edward Snowden said he has been dealing with Bitcoin BTC/USD since pre-2013, and he has “never seen it feel as powerful as it does now on Nostr.”
What Happened: “Most people’s experience with Bitcoin payments — if they even have it — is a 30-60 minute wait for mining + two-plus block confirmations, and a fee that made it feel dumb to send less than $20,” he wrote on Nostr, as shared by a Twitter user.
Snowden said when ordinary people and businesses understand that international money transfers can be nearly instantaneous, virtually free, and only require two clicks, things will start to get very exciting.
“Still need to cover a lot of road on the privacy problem, but this already feels better than everything naked on-chain,” he said.
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Snowden said the hardest problem has always been making it easy for people who don’t care about Bitcoin to accept it, without requiring them to start caring about it.
“The way you do that is by making it ‘better than money.’ We’re not there yet for everybody, but for the first time in many years, I caught a glimpse of how it might be possible,” he added.
Snowden on Tuesday hailed Nostr as a replacement for Elon Musk‘s Twitter and Meta Platforms Inc.‘s META Instagram.
Nostr’s official website describes the platform as a decentralized network based on cryptographic key pairs. The platform was created anonymously and no company has yet been revealed to be behind this new social media site.
Price Action: Bitcoin was trading at $22,556 down 2.24 in the last 24 hours, according to Benzinga Pro.
Photo via Cory Doctorow on Flickr