Bitcoin Knobs

The best form of CBDC/stablecoin would be a Chaumian token - like that used in Cashu - issued by the central bank. it would maximize privacy

Chaumian ecash works where the 'mint' (could be the central bank) digitally signs a bearer asset which is worth 1$ (or 1 euro or whatever). It has a serial number to avoid double-spending. The cool thing is that the mint (i.e. [central] bank) does not see the serial number when it's signing the bearer asset

If they fully embraced Chaumian e-cash, this could be great. I would support CBDCs then (as a stepping stone to Bitcoin). But I see no evidence of the ECB having any respect for privacy in this process.

Chaumian e-cash can work if the sender is offline. If the receiver wants to avoid a double-spend, the reciever should be online. But if they trust each other, it can be fully offline.

Witness data can't be attached to outputs, whereas op_returns can only be attached to outputs. In order to (indirectly) attach witness data to an output, you need a second transaction which spends that output and then you attach the witness data of the input in the second transaction.

Therefore, usually people need two transactions in order to put arbitrary data into the witness data.

In some use cases, they can't use two transactions. They have only one transaction, and they are determined to attach data to the outputs. They therefore have just two choices: op_return or unspendable-utxos. The latter is terrible in the long run, as it bloats the UTXO set. If high fees are failing to discourage the use of unspendable utxos, then we have to be realistic about our options.

Be practical. Are you advocating for a fork to remove the discount? A lot of people might be open to the idea, if you can get support for a credible plan, as any fork is obviously very difficult

Luke Dashjr is famous for having a very wide array of very-well-documented crazy opinions, where he wants the state to set rules and he will follow them blindly, and therefore it's very believable that he would advocate an OFAC-compliant hardfork. I agree that he's probably not actually seriously considering it, but he has lost credibility through he own arguments over decades.

The evidence is here in this blog post: https://blog.lopp.net/knot-a-serious-project/ . You might distrust the author of that blog post, but he links to large amounts of hard evidence.

Luke is incredibly smart, and his engineering skills have helped Bitcoin a lot, and I hope he will continue to contribute and that we can thank him. But he must not be taken seriously as any sort of leader in Bitcoin

That might be the problem; too many options to choose from 😀

I'm hoping that White Noise (MLS), or something like it, can take off such that we solve all these problems

I'm referencing the "blocksize war" in Bitcoin, which resulted in the "big blockers" leaving Bitcoin to form Bitcoin Cash

The winners of that war, the small blockers, generally are dismissive of big blockers, as the big blockers clearly lost incredibly badly

I'm not suggesting that Odell actually is a big blocker! I'm just joking that he might be

Miners have no power. And that's a good thing

The market decides which set of consensus rules has the most valuable token, and then the miners flock to it

Miners are sheep, following the money, while the (economic) nodes are the shepherds

It's possible that a lot of stubborn miners will keep their hashrate on the least-valuable chain for a long time. But that's not my problem 😜.

The only exception is in the extremely unlikely event that a large group of miners are able to coordinate themselves to do an extended 51% attack on the chain they don't like. But that won't happen as it requires too much coordination and will be insanely expensive

We, the node runners, must stay vigilant and constantly take actions to ensure miners don't gain any power, as things could change in future

Turns out Odell is a raging big-blocker, and they hate big blockers on r/bitcoin

I have the green arrow now, and have received a few sats now. It looks like SN takes approximately 30% of the says?

I have managed to send a few sats too, but it's a bit manual as I have to copy the invoice. I expected it would pop up in my normal spending wallet (currently phoenix, but I'm thinking of switching to Cashu)

Oh. I've just learned about CCs. So I have them, whatever they are!

But I think I also got some "real" sats on another comment. But I don't know where to find them.

PS: some of them have made their way to my external wallet, so maybe everything is fine and will eventually make sense to me 😃

Hi! Thanks for being the first person to interact with me here.

If I understand correctly, somebody (you?) sent a few sats to my bio. But I can't see it in my wallet. I have linked SN to my noun.cash, but I see no balance there. So I'm not sure what - if anything - happened

When you say 'illegal', I guess you mean that running a mint is likely illegal in much of the world? While simply being a user is legal in more places?