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10.4k sats \ 1 reply \ @DarthCoin 16 Dec \ on: Meme Monday - Best Bitcoin Meme Gets 10,000 Sats meta
There have been 10 US Federal Government Shutdowns in History. They have ranged from one agency being closed to the whole government and have ranged from roughly 4 hours to 35 days.
I think one of the most valid critics against bitcoin is about its privacy and it's one that Monero people always cite.
The privacy available on the lightning network is superior to the privacy available on monero.
As just one example, consider receiver privacy. On monero, the sender always knows what address on the blockchain received the money he sent to the recipient; on lightning, this is not true. The recipient's node pubkey does not receive the money, it's only used for communication. The address on the blockchain that received the money is a 2 of 2 multisig that is hidden via the use of short channel identifiers and blinded paths. And the transaction putting it there is an off-chain transaction between the receiver and their channel partner -- the sender does not get to see it. So lightning "receiver privacy" is better, in this respect, than monero.
One argument that I think is good is that dark markets are always transacted with XMR, showing that it's the only private solution out there.
Not all DNMs use monero; some use lightning instead. Two darknet markets that support lightning are Bisq2 and Robosats.
There is also open source DNM software that supports lightning (Squeak Road) but I don't know of any significant DNMs that use it.
Where would you recommend an overworked bitcoiner go on vacation in February, assuming they wanted to stay in the western hemisphere and be beachside?
Oh love this.
So it's Curaçao. But please don't tell anyone that I said that because I'm working on two videos all about how Curaçao is an undiscovered, hidden bitcoin gem.
There are loads of awesome bitcoiners there who are super welcoming + lots of merchants. Check btcmap.org and zoom in on curaçao then compare it to any other island.
The reef there is ONE OF THE BEST IN THE WORLD and you can swim to it from the shore. It's magical.
Beaches are outrageously nice. I live by a beach in Europe that's very nice and Curaçao is 10x.
It's quite a developed island (compared to say central america) and most people speak english very well. I know expats there that don't bother with dutch or spanish or papiamentu (local dialect)
Very very safe. I saw way too many rolexes.
As a second option, costa rica or el salvador but the caribbean is the caribbean man.
Bitcoin is 100k, you can relax :)
Use Sparrow or Liana wallet and you will understand it better.
Its actually pretty simple to think about.
1 of 3 (just an example. One of the 3 keys available needs to sign)
2-of-5 (2 of the 5 keys that exist need to sign)
Multi-signature flow uses PSBT files a lot. You may be familiar with PSBT files if you use an airgapped signing device (as opposed to a USB or bluetooth signing device).
When the PSBT file is signed with one of the available signatures, you take the partially signed bitcoin transaction file (PSBT file) and send it to the next person to sign.
Multi-signature requires multiple signatures, not multiple people
Multi-signature as 2FA
So in this way, you can think of it like 2FA (two factor authentication). One device signs, but you need another device to sign. The most simplistic example of this, is the bitkey. The Bitkey is an airgapped signing device, but the wallet people make with the bitkey is NOT cold storage. This is because 2 of the 3 available keys are required to sign. 1 key is in the app (on the phone), one key is with the company, and the 3rd key is on the signing device. So in this way, the bitkey is a 2FA solution, not a cold storage solution.
Multi-signature as hardened security
On the other end of the spectrum is geographically distributed key storage. In this set-up, physical access to multiple locations is required to spend the life savings or whatever it may be. Glacier protocol guide explains the reason someone may want to do this:
Multisignature security protects against the following scenarios:
Theft: Even if somebody physically breaks into a safe, any one key is not enough to steal the money. Loss: If a key is destroyed or simply misplaced, you can recover your money using the remaining keys. Betrayal: You may want to entrust one or more signatories with keys to facilitate access to your funds when you are dead or incapacitated. With multisignature security, entrusting them with a key will not enable them to steal your funds (unless they steal additional key(s), or collude with another signatory).
Multi-signature as collaborative custody
It may be the case that you don't want to be the sole custodian for your own funds. There are many reasons for this. A company or nation state for example should not have 1 person who can make spending decisions. Very often collaborative custody is used as a hand holding option to get people to learn self-custody, while still in reality having a custodian (bitcoin beach wallet when it existed was this kind of training wheels). Anchorwatch wants people to use this kind of multi-signature scheme for "self-custody insurance" From my understanding though anchorwatch will allow many different types of multi-signature arrangements including collaborate custody and multi-signature as inheritance (I'll allow them to explain themselves more, but point is don't get too caught up in that example).
One could also use this kind of collaborative custody the way one would use a joint bank account. For spouses, for event savings (like saving up for a family gathering in which the family collaboratively custodies the funds) Theya wallet is probably the most user friendly software that would allow for this usecase: https://www.theya.us/
The glacier protocol suggests a version of collaborative custody (given the user accepts the risk trade offs) wherein the user can spend at all times, but multiple friends or family members must collude to spend.
Multi-signature as inheritance
For this kind of multi-signature, even a 1-of-2 is reasonable. But why have a 1 of 2 instead of just sharing one key? Because in this setup, the key that the inheritance recipient holds, can not be used until a specified amount of time has passed.
Liana wallet is the user friendly program for setting something like this up:
https://wizardsardine.com/liana/
Key exchange
To create a multi-sig wallet with other people, you do not need to see each others private keys or seed phrases. You only need to share each others xpubs (and use the same derivation paths). This information is used to view the wallet balance, while the private key or seed phrase is used to sign.
Hope this helps.
What's something you believe about bitcoin that few bitcoiners agree with you on?
I'm pro BIP 176 and i don't think a lot of people agree. Sats/Satoshis are mega confusing for noobies and i find it tiresome. I like this : 2.2 BTC and ₿ 89,000
- That custodial lightning wallets are not a sin, especially for total noobies.
- it's ok to be vegetarian and vegan (i was for 6 years, sorry not sorry)
- Trad stuff is kinda regarded :D
I was going to ask if the changes to the algorithm were already in place, the leaderboard updated ahead of time! Well done, I think it's fairer. Good job sn team!
I'm testing an alternative to alby, in NWC you have two connection strings, one for sending and one for receiving. For now I've only tested sending and it worked. My question is whether it's the same string for receiving or a different one. Coinos only offers one string. I followed @realBitcoinDog's tutorial and he doesn't mention this, he uses LN address to receive. cc/ @ek
What's the most surprising thing you've learned traveling and talking to bitcoiners?
That we are both the best thing and the absolute worst thing for bitcoin.
We have a joke in surfing—the worst part about surfing is other surfers! It feels like that in bitcoin sometimes.
That said, bitcoiners have changed my life and shown me immense humanity and kindness. V grateful for bitcoiners.
I'll be okay. I'm just complaning. Oddly, this time my Alby Go connection was maintained, and I could still receive from SN. For some reason only my send connection to SN failed. I'll set it back up later.
I would like to attach other wallets. Unfortunately my old Umbrel node has the best liquidity, but Umbrel for some reason doesn't have https, which is ridiculous. I think that rules out lnbits and LND connections. I have to build up my other node with more channels and liquidity.
So this means when someone zaps my post or comment, some of it may be CCs and some of it may be sats?
When I zap others and I have a non-zero CC balance, will SN spend my CCs before it takes zaps from my funding wallet?
And is there a way to remove CCs from the system or will their number only grow, meaning that an ever-increasing percentage of zaps I receive will be CCs?
- This should be in ~BooksAndArticles also... It would be nice if we could sponser a post to appear in another territory! Here is a great idea for value add to this platform... @k00b @ek & more @siggy47
- Dr. Earl Mindell's Vitamin Bible - was my go to book in the late 1980s as I was a staunch vegetarian.
- As a vegetarian I have always reminded my meat eating friends that we see colors for a reason. The eyes will lead us to the most colorful foods that are natural. This is how we get hijacked in the grocery store.
- Meat eaters like Dr. Saifedean will point to Weston A. Price DDS but if you actually read the book you will see that nutrition is based on the food that is natively available to where you live and not processed foods.
- You may need to eat meat. You may not need to eat it also. Meat is the Greek term for Food.
- King James Bible And God said, Behold, I have given you every herb bearing seed, which is upon the face of all the earth, and every tree, in the which is the fruit of a tree yielding seed; to you it shall be for meat. -- source
- Here is a link to the above book referenced: https://a.co/d/bYI4yNA
I'm getting tired of resetting my constantly breaking Alby hub connections. Tell me I'm going to have to tell @DarthCoin he was right about cowboy credits too.
I'm honestly not trying to white knight for Dorsey, he doesn't need my help. He's doing alright lol. Just get tired of this story getting missed. Much context is missing.
I've found over the years we to often focus on the men instead of the incentives. Incentive structures will almost always win and do what the incentives lead toward. Not to excuse man. But in my view man is weak and its just an easy whipping boy to point to the man instead of the system. You replace the man and you haven't solved the problem.