0 sats \ 2 replies \ @Arceris 15 May \ on: Ecash TIDES using Cashu and Stratum v2 lightning
This is a great use, that I've been thinking about for awhile myself. Thanks for putting it together!
Not mentioned in the TFTC article, the site must be totally returned to an unimproved lot:
(c) Not later than 90 calendar days after the date of this order, unless such date is extended by CFIUS, subject to such conditions on an extension as CFIUS determines are necessary and appropriate to protect the national security of the United States, the Purchasers, whether directly or indirectly, shall: (i) remove from the Real Estate all items, structures, or other physical objects or installations of any kind (the “Equipment”) that the Purchasers, their Affiliates, or persons acting on their behalf, have stockpiled, stored, deposited, installed, or affixed (the “Equipment Removal”), and certify in writing that such Equipment Removal has been completed; and (ii) remove from the Real Estate all (A) utility and other improvements on or adjacent and connected to the Real Estate; (B) excavation, repair, or new construction on the Real Estate underground; and (C) repair, improvement, or new construction on the Real Estate above ground (collectively, (A) through (C), the “Improvements”) commenced, continued, or completed by the Purchasers or their Affiliates after the closing of the Transaction (the “Improvements Removal”), and certify in writing that such Improvements Removal has been completed. CFIUS is authorized to require inspection of the Real Estate, at no expense to CFIUS, on terms it deems appropriate to ensure that each of the Equipment Removal and Improvements Removal is complete and verified.
If someone were to want to buy the site and use it as a bitcoin facility (given the power company already dropped a big service line to it), they wouldn't be able to, unless the Administration backs off part (c) there.
It seems that they're doing this draconian push here because it's a Bitcoin mine, and President Warren (whoops, Biden) wants to make it impossible to repurpose the site for an American company.
This monetary surge is fueled by an uptick in tax contributions extortion payments from individuals and corporations.
FTFY.
I've not used Exodus, but if it's on your phone, it's not cold. If you want a budget friendly solution, you can't beat free - sparrow and paper.
There are downsides to every setup, and the basic idea is to match the level of protection with the risk. Spending 300,000 sats on a nice Coldcard Q1 is perhaps excessive to protect 15,000 sats, but is cheap to protect 150M sats.
I keep an amount of sats in a phone wallet (kinda - I use zeus which connects to my self-custody node, but it's fully accessible on my phone), for ease of spending. But I also know that if my phone were to be stolen, those sats might be at some risk of loss.
The short answer is you cannot prevent all attacks, and a concerted or targeted attack (vs. an opportunistic one) is harder/impossible to fully defend against.
Hot funds are always a risk - so plan to reduce the amount of hot funds you have at any one time.
One potential mitigation is to ensure that the bulk of your assets, the cold storage, is remote from this kind of attack. For instance, perhaps a multi-sig which requires several keys that you do not, and cannot, access quickly (geographically and potentially jurisdictionally separate). Opportunistic attacks may fail to get your bitcoin if it'll take hours/days/weeks to finally pay.
Using collaborative custody, where one keyholder has to be convinced to release your funds (and is specifically looking for signs of coercion) is another possibility.
Braiins didn't do that until they went FPPS. I believe it's the result of a big player providing all the FPPS backing, making essentially all FPPS pools just front-ends for that one big backer.
"To put it bluntly, many Bitcoin miners are profitable because the government pays them not to mine Bitcoin. These so-called “load balancing” or “grid stabilization” payments incentivize miners to turn off their machines during heavy electrical usage elsewhere in nearby cities."
Wow. That's some weapons-grade FUD and intentional mischaracterization right there.
While this sounds good, a 25-50% discount is, in many cases, unsustainable. Margins in most businesses are less than 20%, and often less than 10%. In restaurants, bulk margin is often less than 5% (very high margin on some things, balanced by zero or negative margin on others). If the business is a forced seller, say to cover high fiat-only costs, such a large margin is basically impossible.
That said, there are businesses (personal service businesses, consulting, &c.) where there is essentially no margin - it's just time. In those cases such a discount could be feasible.
A business I know about offers 2.5%-3.5% discount for paying in BTC, on top of other discounts (bigger volumes get the bigger discount). This amounts to roughly 25%-50% of their net margin. It works for them, but it is a big hit to keep that up, since they're a forced seller to fiat on their supply side.
I believe in Satoshi Nakamoto,
the Father of blockchain,
creator of the hardest money.
I believe in Bitcoin,
his only creation,
Conceived in the Great Recession,
Born of the virgin rationality,
Suffered under the fork wars,
Was declared dead hundreds of times,
and descended into unrelenting bear markets.
On the third halving,
rose again from the dip,
and ascended to global reserve.
I believe in the anonymous hodlers,
the holy main chain,
the primacy of proof of work,
the communion of nodes,
the forgiveness of shitcoinery,
and the resurrection of honest value, freedom, and truth everlasting.
Hodlujah.
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- DLCs In Legacy Finance Explained
- BTC Liquidity on Exchanges Grows
- @Pablof7z Gives us Whynostr (gonna be big)
- Holepunch Launches Pear Runtime
#Bitcoin #BitcoinAnd $boost
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Isn't Grayscale still larger? According to https://bitcointreasuries.net/ it is even with the outflows.