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Recap Of an Amazing Meetup Hosted By Yakihonne During Bitcoin Asia Conference

Discover how Yaki Honne has revolutionized content creation on Nostr, enhancing our team's ability to spread Satoshi’s vision. Learn about our experiences with the platform, our interactions with its founders, and our exciting meetup at the Bitcoin Asia conference.

If you follow our newsletter on social media and on Nostr, you surely know that we love Yaki Honne. For almost a year, our team has been using this wonderful platform to create content on Nostr and continue spreading Satoshi’s word through the networks.

During the time we’ve been using it, Yakihonne has evolved at the speed of light, improving the way we operate, create, and format text, as well as the user interface to make it much more intuitive, helping new members of the community.

After talking with Shaun and his team for a long time on Telegram, their podcast, and communicating virtually, we had the pleasure of meeting in person at the Bitcoin Asia conference. Many events were organized in parallel during the conference, and one of them finally led us to meet our friend Shaun, Wendy, the founder of Yakihonne, and reconnect with several friends from the Bitcoin and Nostr community in Hong Kong.

Table of Contents

The Challenge Of Growing Nostr

The event was divided into two parts. The first part consisted of a panel discussing the incentives and growth Nostr has experienced recently. The panel included fiatjaf (the mysterious creator of Nostr), our friend Derek Ross, one of the most active users on the network and founder of Nostr Plebs (and the first guest on the Crox Road podcast), John from BTC Inc, Jademont from Waterdrip Capital, Shaun from Yakihonne, and Wendy, the founder of this wonderful platform for publishing content. Both fiatjaf and Derek participated via Zoom.

During the discussion (in which fiatjaf, true to his style, had an online war game playing on his camera, making the meeting more relaxed), they talked about the evolution of Nostr and the benefits of having a social network free from any centralized control. As we all know, Nostr aims to solve the problem that traditional social networks have been suffering from for a long time, which worsened during the pandemic: a group of employees of any platform deciding what is acceptable and what should not be published, leading those who do not align with their editorial content or ideology to be censored, their content removed, and in many cases, erased from those platforms where they had amassed a significant number of followers.

As we all know, Nostr aims to solve that problem, but on the other hand, there are other challenges to be addressed. Firstly, being decentralized, the vast majority of those involved in developing the system do so altruistically, motivated by the simple desire to support freedom of expression and the decentralization of content. Therefore, the system and functionalities do not evolve as quickly as they would if there were a profit-driven company behind the platform.

Secondly, the other important component of a social network is its users, so their number must be high for the network to be successful. What good is having a perfect protocol if no one or very few people use it? Social networks are successful when a large part of the population is involved because it generates the necessary incentives for agents to be part of the ecosystem. For example, in the early days, the motivation to use centralized networks like Facebook was to reconnect with friends, family, or schoolmates who had been lost over time. I remember the first interactions back in 2008 when I reconnected with acquaintances I hadn't seen in decades. Therefore, potential incentives for the general public to adopt Nostr must be determined.

The first incentive could be privacy, although as discussed in the panel, it seems that most of the public doesn't care much about this topic. Since the advent of social networks, we have seen how people share personal photos, places they visit, and all kinds of personal information without caring about how tech giants might use that data.

The second incentive is monetary. In the era of influencers and generating income online, this incentive is fundamental. Here, Bitcoin and zaps come into play. Unlike other platforms, with Nostr, we don't rely on millions of followers to generate income; by simply creating quality content, it is possible to generate income via zaps (payments in satoshis via the Lightning Network), meaning accumulating Bitcoin for the content published. Although currently, it's fun and interesting to receive sats for the content one publishes, it’s still not possible to earn a considerable amount of money to make it a way of life. But as Nostr usage expands, these incomes could grow. Not to mention that they are received in real money (Bitcoin) that increases in value over time, so a few sats received today could be worth a lot in the future.

The second panel was about Empowering Bitcoin Projects with Increased Traffic on Nostr. Most of the panel was in Mandarin, so it was difficult to understand for those who don't speak the language, but two interesting projects caught our attention: a Bitcoin hostel in Indonesia and a Thai YouTuber who has created a large community of Bitcoiners by educating through YouTube in the Land of Smiles.

The event was very interesting and gave us the opportunity to meet in person with virtual friends and receive a beautiful t-shirt as a gift, which we wear with pride, taking Yakihonne wherever we go!

We hope to soon be part of another event and, as always, we are committed to the growth of Yakihonne, Nostr, and everything decentralized.

The importance of this kind of events

The Yakihonne event was a significant milestone for the Nostr community and the broader Bitcoin ecosystem. It underscored the growing importance of decentralized platforms in the digital age, especially in the context of freedom of expression and financial independence.

The Evolution of Nostr

Nostr, a decentralized social network protocol, has been pivotal in addressing the limitations of traditional social media platforms. These platforms, often controlled by centralized entities, have the power to censor content and ban users, thus stifling free speech. Nostr, on the other hand, allows users to communicate without fear of censorship. This is particularly important in today's world where information is a powerful tool, and controlling it means controlling the narrative.

Since its inception, Nostr has seen rapid development. The community of developers working on Nostr is driven by a passion for decentralization and freedom. This altruistic approach, while slow, ensures that the platform remains true to its core principles. The improvements in user interface and functionality over the past year have made it more accessible, attracting a broader audience.

The Role of Yakihonne

Yakihonne has been instrumental in this journey. As a platform for content creation on Nostr, it has provided users with the tools they need to publish their work without interference. The involvement of key figures like Shaun and Wendy has added credibility and momentum to the project. Their engagement with the community, through events like the Bitcoin Asia conference, highlights the collaborative spirit that drives this ecosystem.

Challenges and Opportunities

While the potential of Nostr and Yakihonne is immense, there are challenges that need to be addressed. The decentralized nature of the platform means that development is often slow and reliant on volunteers. This contrasts with centralized platforms that can quickly implement changes and introduce new features. However, the lack of centralized control is also what makes Nostr unique and valuable.

User adoption is another critical factor. For Nostr to be successful, it needs a large user base. The incentives for users to join and stay active on the platform are crucial. Privacy is one incentive, but as discussed, it may not be compelling enough for the majority. Monetary incentives, through mechanisms like zaps, offer a more tangible benefit. The ability to earn Bitcoin for content creation is a powerful draw, especially as Bitcoin continues to gain value and acceptance globally.

Empowering Projects and Community

The second panel at the event focused on empowering Bitcoin projects through increased traffic on Nostr. This highlights another significant aspect of the platform – its potential to drive adoption and innovation within the Bitcoin ecosystem. Projects like the Bitcoin hostel in Indonesia and the educational efforts of the Thai YouTuber demonstrate the diverse applications of Bitcoin and the role of Nostr in supporting these initiatives.

The cross-cultural exchange of ideas and collaboration facilitated by events like these is vital. It not only strengthens the community but also showcases the global reach and impact of decentralised technologies. By providing a platform for these projects to gain visibility and traction, Nostr and Yakihonne contribute to the broader adoption and understanding of Bitcoin and decentralised systems.

Looking Ahead

The Yakihonne event in Hong Kong was more than just a gathering of enthusiasts; it was a testament to the progress and potential of decentralised platforms. The discussions and interactions that took place will likely influence the future direction of Nostr and Yakihonne. As the community grows and evolves, so will the platform, continually adapting to meet the needs of its users.

The future looks promising for Nostr and Yakihonne. With continued development, increased user adoption, and ongoing community engagement, they are well-positioned to become leading platforms in the decentralized space. The commitment to freedom of expression and financial independence aligns with the broader goals of the Bitcoin movement, creating a synergistic relationship that benefits all involved.

Conclusion

In conclusion, the Yakihonne event in Hong Kong was a milestone in the journey towards a decentralized future. It highlighted the achievements so far and set the stage for future developments. The insights gained from the panels and the connections made among participants will undoubtedly contribute to the ongoing growth and success of Nostr and Yakihonne. As we look forward to more events and milestones, the vision of a decentralized, censorship-resistant social network becomes ever more tangible.

FAQ

What was the main purpose of the Yakihonne event in Hong Kong?

The main purpose of the Yakihonne event in Hong Kong was to bring together members of the Bitcoin and Nostr communities to discuss the evolution, incentives, and challenges of the Nostr platform, as well as to provide an opportunity for virtual friends to meet in person and strengthen community ties.

Who were some of the key speakers at the event, and what topics did they cover?

Key speakers at the event included fiatjaf, the creator of Nostr; Derek Ross, founder of Nostr Plebs; John from BTC Inc; Jademont from Waterdrip Capital; Shaun from Yakihonne; and Wendy, the founder of Yakihonne. They discussed the incentives for using Nostr, the platform's growth, the challenges of decentralized social networks, and the benefits of a social network free from centralized control.

What are some of the main challenges facing Nostr, as discussed during the event?

The main challenges facing Nostr include the slower pace of development due to its reliance on altruistic volunteer developers, the need to attract a larger user base to ensure the platform's success, and the need to find compelling incentives for users to adopt and remain active on the platform. Privacy and monetary incentives were specifically discussed as potential motivators.

How does Nostr aim to address the issues of content censorship and centralized control found in traditional social media platforms?

Nostr aims to address content censorship and centralized control by being a decentralized social network protocol where no single entity has the power to decide what content is acceptable. This allows for free expression without fear of censorship, providing a solution to the problems that have plagued traditional social media platforms, especially during the pandemic.

What were some of the interesting projects highlighted during the second panel, and what languages were spoken?

During the second panel, which was mainly conducted in Mandarin, two interesting projects were highlighted: a Bitcoin hostel in Indonesia and a Thai YouTuber who has created a large community of Bitcoiners through educational content on YouTube. These projects exemplified the diverse applications of Bitcoin and the role of Nostr in supporting such initiatives.

That's all for today, see ya tomorrow! If you want more, be sure to follow our X (@croxroadnews), Instagram (@croxroadnews.co), Youtube (@croxroadnews), Tiktok (@croxroadnews) and nostr - [email protected]

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.

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