You've reminded me that I need to write an essay on a PKI scheme I've been thinking about. The essence of it is that a domain name would be a hash of the public key in the certificate for that domain name. For the moment, I'm calling this Self-Authenticating Domain Names (SADN).
No purchase of a CA's signature; and no tortue of making/distributing self-signed certs. All you'd need to do is generate a SADN cert and buy a domain from a registrar using the hash of that cert's public key (e.g. b9c50f5a670a4da91785aa672e504a81.com).
The use-case for SADNs is for things like backend servers and Nostr relays, where succinctness of domain names is irrelevant.
The primary problem that I haven't worked out yet is key revokation. That is, if the private key is leaked, then you'd have to change the domain name. Since this is for backend stuff, I don't think changing domains would be devastating.
Bitcoin Out of Cold StorageLuna crash, Celsius crash, 3AC crash, FTX demolition, Binance screwed, Coinbase screwed, Prime Trust is screwed, everyone's getting screwed, run for your lives
Bitcoin Within Cold StorageCalmly listening to the ticking of the blocks all year long 🎼
Bitcoin is swallowing the energy of the fallout like its nothing. In that span of time entities with less than 100 Bitcoin in their wallet have accumulated at a rate of something like 2.5x the available supply per day. These are just the Bitcoin going into long term cold storage.
The price today is without very much leverage since all those platforms have collapsed. As predicted by some a few years ago an event would trigger altcoins to collapse and BTC dominance to rise. I don't think anyone that predicted anything is a genius. I just think it is always obvious how the game theory will play out when Bitcoin is involved.
The price is being moved by hodlr's, miners, and exchanges. Exchanges will run out of Bitcoin if the price does not adjust if hodlr's keep accumulating at the same rate. Possible Spot ETF's online soon. How can any exchange or market maker provide the liquidity when the entire supply is being ate up before they can even come to market?? They can't even provide liquidity during 20% moves.
There really isn't much in the way of the price going parabolic. Who knows when that will be but I think there is a chance it could be much sooner than anticipated. I hope anyways. It has to since the supply just isn't there. This is just basic economics but I don't know if people acknowledge it clearly enough.
Since I am at a temporary impass on my current LNAUTH url project, I have been thinking about the mempool and how invalid transactions interact with it. I think it might be possible to build something on Bitcoin leveraging the fact that invalid transactions do appear in the mempool, but each node that sees it removes it from their mempool because its not valid.
I have noticed that new Bitcoin Lightning wallets have emerged recently and slightly older ones have been relaunched. But the downside is that most of those wallets are centralized (at least the ones I've seen).
You pretty much have to host your own LN node and manage it which is why you also don't see hardware lightning wallets (My ultimate dream).
Despite these challenges there is progress being made. Check out the efforts being made by the Mutiny Wallet team. It will be the first to be a self hosted, decentralized lighting wallet with the complexity of running a node extracted away.
Good morning everyone, the little Friday is here, aka Thursday. Seems like the day is going to be sunny over here, but the air feels like something good is brewing, perhaps a good juicy profit? We'll see, patience is a virtue my friend. I wish you an amazing day, a phenomenal weekend since it's almost here and I wanted to thank you. Thank you for existing, thank you for being and thank you for your time in reading this, you matter and you're important, don't ever forget that. Be well and stay frosty!!
I think if you are a company and want bitcoin exposure (which is a good thing) in an accessible way (self custody is not trivial and less so for companies), ETFs are a good first step for mainstream bitcoin adoption.
They are a quick and easy way to get price exposure, at the expense of several layers of counter-party risk.
If a company deems that risk exposure acceptable, that's on them. But my suspicion is that the risks of Bitcoin ETFs are generally underestimated. I think a company would be better off spending some small % of their Bitcoin budget on setting up a self-custody system, or at least waiting until industry standards emerge around self-custody models.
I guess notor maybe it does #hmmmmmmm#