0 sats \ 0 replies \ @ln_cortado 12 Dec 2022 \ parent \ on: Thoughts on nation-state 51% attacks bitcoin
I definitely agree with that quote in isolation. Not sure it applies everywhere but it is a good principle to apply in general
21 sats \ 2 replies \ @ln_cortado 25 Nov 2022 \ parent \ on: Thoughts on nation-state 51% attacks bitcoin
I'm of the opinion that you have a very naive view of the world. The charade that elected governments play may fool you into thinking that it's full of incompetent people, but I'm pretty certain they are able to play complicated 4D level chess at the state level, at least if history is any indicator.
You keep focusing on the simple 51% attack vector, but nobody is stupid enough to attempt something as obvious. These government actors are experts at silently muting, crippling or destroying countries - what makes you think they woulnd't be able to do it to a disorganized open source project?
Whether it'll happen is a different question though -- as you identified, the game theory at the geo-political level complicates any single actor's motivations.
Governments can fund private companies to do it for them. It's very naive to think "oh they're stupid so they can't pull it off"
- Core CPI 0.3% month annualized is 3.66%
- CPI 0.4 month annualized is 4.91%
A sign in the right direction, but not close. Even if M/M prints very good, the Fed would want a few months of straight prints
It's only a matter of time between the in-fighting leads to something greater in the "crypto" space.
They'll eat themselves due to the fierce competition and massive amount of dumb money to get
This needs more eyes on it! Their response was horrific, I lost a lot of respect for Stark from this.
I will send 5000 sats to whoever has the tweet screenshotted
How was this made? Are these private channels?
EDIT: There is a github link on the bottom of the absurdly large page - https://github.com/BitcoinDevShop/hidden-lightning-network
For newer readers, this link is now https://stacker.news/top/posts?when=week
Breaking changes and all of that :) Maybe we should have a versioned API
Hopefully this is a wakeup call to the lnd team...
Can't believe nobody stole thousands of dollars worth from unsuspecting nodes.
The scariest thing is this:
"LNsploit does not yet broadcast transactions with a held HTLC payment still in flight, which would allow you to steal funds in hours rather than the ~2-week channel timelocks."
@TonyGiorgio I asked some of the people you credit in the end of the blog post - would you care to clarify how this can actually be achieved? Perhaps even an edit on the post would help for future readers - but it sounds super scary that the 2-week lock can be circumvented through some way. Doesn't that point to a greater critical flaw in the protocol?
Posted August 2022. Some key things I caught from it:
- the $40B global remittance market averages 6.4% per cross-border transaction
- Lightning saw 400% YoY increase in Q1 22, at an estimated $20-$30M in monthly payments (public capacity)
- Number of Bitcoins on the network is at an ATH - 4500BTC
- this cool image
- LND has 70% of node market share as of 2020
- 26 exchanges support Lightning (Kraken, Bitfinex, Bitstamp) with Robinhood announcing an integration and Paxful too
- David Markus (previous head of Facebook's Libra/Diem project) founded and raised a Series A for a new Lightning infra company Lightspark
- Lightning Labs raised $70M for a series B; OpenNode raised a series A
- With just $100M locked in, it pales in comparison with Ethereum's billion dollar L2s. But Coinbase admits that lightning activity is more indicative of real world utility when compared to the speculative activity driving growth on these smart contract platforms
- Hurdles: lack of developer tooling, demand for payment use cases, regulation; Lightning is still cumbersome for new users and merchants
Your channel posts the best Bitcoin snippets out there.
I really hope you can maintain the quality. I was sad when the activity on your channel went down in the last year or so. Thank you for all you've done!
Ditto.
Rust seems perfect for a project like Bitcoin. There's a good chance it would have been written in it were it to be created today.