The problem with Social Media Platforms
Established social media platforms like X, Instagram, Facebook, TikTok and others have become incredibly powerful and are prone to abuse by special interest groups.
What they all have in common is that they are centralized, proprietary and controlled by a small group of people. They decide on what you see and what you don’t see.
These social media platforms are all free for us to use. But if we don’t pay, we are the product. And we do not own our content.
NOSTR: the solution?
Nostr, which stands for ‘Notes and Other Stuff Transmitted by Relays’ is challenging this status-quo, is experiencing exponential growth, and we should all take note.
Nostr is an open-source protocol (similar to SMTP, which is the open standard for how emails are being handled) for decentralized social media. There are already several Nostr clients that you can use to share content. So far, we have been using Primal.net and Damus.io.
Added benefit: getting access to the Lightning network
In addition, Nostr has implemented a feature called "zaps," which are events that allow users to send and receive Satoshis (small units of Bitcoin) over the Lightning Network. This integration enables quick and efficient micropayments within the Nostr protocol. This also means that you can send money to anyone on the Nostr network – outside the banking system, decentralized and open to everyone.
I encourage you to watch Max DeMarco’s Youtube video to learn more about the ‘what’, ‘why’ and ‘how’. Max posted it a year ago, but it has not lost any of its relevance.
Going forward
We should never underestimate innovation capabilities of established social media (and payment processing) companies, but Nostr is clearly a threat to their business model.
Nostr is still a solution in its very early stages with its roots in the bitcoin community and we are still figuring out how to best use it. If you would like to participate in our journey please follow us on Nostr🙏 : https://njump.me/npub1n7eu58sk5q5hjnnfhmgtv5r4s0q53heuljxmam7kmscses7qyhkqhqds78
(npub1n7eu58sk5q5hjnnfhmgtv5r4s0q53heuljxmam7kmscses7qyhkqhqds78)
Jeff Haindl & Reto Rauschenberger
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