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July 08, 2024, 02:37:46 PM *
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941  Bitcoin / Development & Technical Discussion / Re: Scalable paper wallet on: January 21, 2024, 06:45:30 PM
I absolutely want to avoid discovering one day that the private key I saved is no longer supported by software wallets or even by the Bitcoin protocol.
Then protect your private key, because it is far more probable than you will screw things up with the paper wallet, than the entire Bitcoin network with itself.

Seed phrase Electrum: I don't want to depend on Electrum, its developers and the future of that software. I only want to trust the Bitcoin protocol.
WIF: it is the solution that convinces me the most: I write and/or save the private key directly in the format recognized by the Bitcoin protocol and therefore at least by Bitcoin Core (and I hope that it will always be recognized in the future also by other lighter wallets such as Electrum) .
For the sake of the potential confusion: Bitcoin Core is an implementation of Bitcoin. It is not Bitcoin itself. I don't understand why you're concerned about Electrum going extinct, but not about Bitcoin Core. Both are equally reputable and maintained for more than a decade. And both are parts of the Bitcoin network.

And I strongly recommend you to create an Electrum wallet instead, as it's more user-friendly and contains less complex terminology.
942  Bitcoin / Bitcoin Technical Support / Re: Any means of combining multiple output into 1 ? on: January 21, 2024, 06:31:48 PM
OP, note that with current fee rates, you'll have to pay quite a lot. Spending 30 inputs takes up about 2000 vbytes. With fee rate at 45 sat/vb, that will cost 90,000 sat at least.

The only way to combine 30 UTXOs is to use them as inputs for a new transaction with two outputs (one of them would define a fee for miners while other - send the rest to new address).
Technically speaking, the transaction fee is not considered an output. From the perspective of the protocol, the sum of all the outputs minus the sum of all the inputs is the transaction fee.
943  Economy / Reputation / Re: Wasabi, Kruw, users and supporters of their low morals on: January 21, 2024, 11:40:51 AM
That's not how this expression works....
I swear I've heard it in a negative tone before.
944  Economy / Reputation / Re: Wasabi, Kruw, users and supporters of their low morals on: January 21, 2024, 11:10:37 AM
It's just sad how quickly this company sold their principles. I remember using Wasabi in 2020, before 2.0 was released, in their lightweight client. I was honestly impressed by how easy and cheap it was to do coinjoin. I must have suggested it a couple of times in this forum.

But everything began going downwards after the blacklisting update. I remember the people's comments on their twitter. Seemed as if they lost a lot of clients. Then, n0nce sent them a letter, and at this point, I knew we had to do with clowns. The rest is history.
945  Bitcoin / Bitcoin Discussion / Re: Bitcoin ETFs - Good or Bad? on: January 21, 2024, 10:55:56 AM
Let me try answering the questions.

1. Do you want large institutional financial organisations buying large amounts of bitcoins and then locking it up in centralized trading platforms?
My opinion is irrelevant. If another person wants to lock their bitcoin in a centralized platform, then who am I to tell him do otherwise? I'd rather want from the overwhelming majority to respect self-custody, but it is part of the Bitcoin spirit to respect freedom of choice as well.

2. Do you want Bitcoin to be a commodity or a currency? ETFs will destroy the goal of Bitcoin becoming a currency.
Again, what I want is irrelevant. However, if my opinion holds even the slightest value, I prefer to allow each individual to determine for themselves the optimal perspective on Bitcoin. ETFs will definitely not destroy Bitcoin as currency, same as with any other centralized platform.



The following quoted sentences are not questions, so I guess I have to comment them.

3. ETFs take direct investment capital into personal ownership of Bitcoin away and it pulls that capital into centralized trading platforms. (Those coins are owned by the trading platform, because they control the private keys)
As it already happens with centralized exchanges.

4. Fiat whales get control over bitcoins and can be used to manipulate the Bitcoin price. (They control the traditional Fiat investment options, so they will gradually increase their ownership of bitcoins to control that too)
As it already happens.

5. ETFs destroy pseudo anonymity, because it is highly regulated with strict KYC requirements implemented to identify every trader on their platform.
Pseudo-anonymity is the last thing an investor will look when buying an ETF. Nonetheless, it won't affect Bitcoin's pseudo-anonymity in the slightest.

6. Bitcoin's future success rely on actual coins being transfered on the Blockchain, because it generates miners fees to reward the miners. What happens when the Block reward falls away and not enough transaction happen, because bitcoins are locked up in ETFs.
The Bitcoin network has long been congested without any ETFs. We've been at 30-100 sat/vb months now, before ETF was approved. There are countless of reasons why there will be on-chain transactions.
946  Bitcoin / Development & Technical Discussion / Re: Testnet Faucet on: January 21, 2024, 10:38:11 AM
Would you please to send some btc testnet to this address tb1qtlk8dezuknqkjnqvngfuy3u9d3ckjqyahadkge any amount as long I can do for bridge 4 times at least
Sent you 0.01 tBTC. I hope they are enough.  Smiley

The reason is quite simple I hear there will be an airdrop for people who use this platform https://testnet.svmscan.io/ and details can be found here https://boxmining.com/satoshivm-savm-token-airdrop-guide/
I hope this is a worthless token; testnet bitcoins are worthless themselves. As far as I can see, it is an Ethereum token which is based on the Bitcoin blockchain. I had read about it in this thread, but it still hasn't convinced me it has to go through Ethereum and can't just built itself in a second layer. Smells like the creators wanna make a few quick bucks.
947  Bitcoin / Bitcoin Technical Support / Re: Generate private keys on computer without on: January 21, 2024, 10:25:11 AM
If so, I imagine that this practice is more secure than the same process on an online machine, or is this an erroneous thought?
It is safer in the sense that an Internet connected computer is prone to be compromised by an attacker via the Internet, whereas it is simply physically impossible for this to happen on an airgapped device.

I will try with few sats.
My instinct tells me that you're about to make a mistake. Would you like to try out testnet first? I can spare you a few testnet sats.
948  Bitcoin / Electrum / Re: [Bounty Inside] Restoring an electrum seed phrase into another wallet on: January 21, 2024, 10:14:15 AM
Well since you figured it out, would you like to create a hosted version of this on Github Pages (or anywhere else) first?
I don't think we should endorse it. As I already said, if Electrum does not approve this method of recovering a seed phrase, then nobody should recover it likewise. There are different normalization steps followed by these two standards, and I severely lack the confidence to even have an opinion on that matter; I haven't even studied their precise terminology. I only know that my improvised "Iancole-electrum" is untested.

Even in HCP's repo you can see a giant "Run at your OWN risk!!".
949  Economy / Reputation / Re: Farewell on: January 20, 2024, 08:16:04 PM
Shhhhh, its Samourai devs who are supposed to be morally repugnant.
For the sake of the discussion, I don't believe Samourai devs are saint either. I mean, they are orders of magnitude more trustworthy than Wasabi, and I'm a whirlpool user myself, but we frequently notice Samourai vs. Wasabi disputes which ruin the reputation of both.

I'm starting to think Kruw hated wasabi more than anyone here, there is no way someone could have done a better attack on their reputation than this one
Praising someone's death is undoubtedly one of the easiest ways to tarnish your reputation. However, there are numerous red flags associated with Wasabi's reputation. Even if you overlook Wasabi as an entity with all the falsehoods surrounding fungibility, address reuse, and the fact that zkSNACKs funds blockchain analysis, there's still a significant concern with Kruw himself serving as an alarm bell for Wasabi.

Deliberately disregarding every argument against Wasabi, resorting to whataboutism, and repeatedly using the same soundbites, accusing signature campaign participants of stealing users' coins without providing any evidence, believing that blacklisting in Bitcoin is sometimes necessary-- overall, his ethics seem to be a perplexing area.

How is he a wasabi dev/team member?
He has public stated he is a Wasabi contributor. If you check his Github page, he has worked on Wasabi.
950  Bitcoin / Electrum / Re: [Bounty Inside] Restoring an electrum seed phrase into another wallet on: January 20, 2024, 02:15:41 PM
In general, don't import an electrum seed phrase in a non-electrum software, unless it is certified by Electrum team. Let's keep it simple as that. You wouldn't attempt to ever restore a Bitcoin Core wallet outside Bitcoin Core, so why would you want to restore an electrum seed phrase elsewhere? Both are equally reputable.

BIP39 uses a simple KD normalization while Electrum does a lot more than that (removes diacritics, modifies CJK inputs, etc.).
Do you mean that it removes diacritics and CJK in the optional extra passphrase?
951  Economy / Economics / Re: A person that is against the creation of CBDC. on: January 20, 2024, 12:38:20 PM
The creation of digital currencies by central banks is only a logical move to modernize finance, given that everything is being digitized anyway.
Doesn't seem to me like modernization. As said by pooya, we already have banking apps, which are designed to be used by the dumbest. A central bank's job, at least as far as I understand neo-liberalism, is to control the extent to which banks can manipulate interest rates. The central bank of the EU is supposed to regulate and ensure the integrity of the banks, rather than introduce an app that circumvents their authority. It is an abrupt departure from their usual responsibilities.

I'd say the real question voters should ask themselves is why should their choices be between Biden and Trump anyway? Two elderly men who don't know what they're doing half the time.
And? It's not them who really make the decisions, it's the representatives of each political party. To me, the presidents are rather just an image needed to present the parties in the media.
952  Economy / Reputation / Re: Farewell on: January 19, 2024, 09:58:39 PM
Am I in the wrong campaign?
Wasabi is operated by a team which is caught lying frequently, supporting censorship, providing questionable levels of privacy, doxxing their competitors, and as Leo would put it, directly funding the enemy.

I do not decide what's morally right or wrong for you, that's usually Kruw's business. If you find it morally acceptable to advertise Wasabi after all this information, then so be it.
953  Economy / Exchanges / Re: eXch - instant exchange BTC / LN / XMR / LTC / ETH / ERC20 on: January 19, 2024, 08:09:36 PM
Could this be because of the way the price is determined?
Another theory is that a large holder switched to Monero, or simply makes usage of this internal function as a mixer. eXch is really attractive for an anonymous entity. No KYC and supports Tor. It reduces some risks of de-anonymization by just sending and receiving bitcoin via Tor Browser, than to use a less reviewed, more complicated software like Bisq. (And it might be cheaper as well)
954  Bitcoin / Electrum / Re: [Bounty Inside] Restoring an electrum seed phrase into another wallet on: January 19, 2024, 06:57:26 PM
How to gain 20 merits for free:

  • Download bip39-standalone.html.
  • Go to line 28611 and replace "return h == nh;" with "return true;".
  • Go to line 28639 and replace "mnemonic" with "electrum".
  • Open bip39-standalone.html in your browser and paste your seed phrase.
  • Select "Bitcoin - Testnet" from "Coin".
  • In "Derivation Path", select BIP141, P2WPKH and use: m/0'/0

Ta-da!
955  Bitcoin / Bitcoin Discussion / Re: Who is Satoshi Nakamoto? on: January 19, 2024, 04:27:00 PM
It seems that Satoshi Nakamoto vanished shortly after Gavin Andresen replied with an email to Satoshi that he (Gavin) was going to visit with the CIA.
He surely didn't appreciate the invitation to the NSA, but I doubt that was the reason of his departure. In case you didn't know, that was their last conversation: http://gavinandresen.ninja/eleven-years-ago-today

Only way to do that would be to rewrite the code and have a hard fork which no one would run since it would cause chaos pretty much.
Hardforking creates an altcoin. Even if the overwhelming majority of the Bitcoin userbase switched to that hypothetical hardfork, it wouldn't really be Bitcoin.
956  Bitcoin / Development & Technical Discussion / Re: Accepting Bitcoin without a confirmation on: January 18, 2024, 07:19:39 PM
For a business to accept payments on the Lightning network they have to open a channel with a third party.
They have to open a channel with a peer I would rather call.

The channel needs to be funded with inbound liquidity in the amount necessary to cover the transactions they are expecting.
From the sender's perspective, it needs to have outbound liquidity (the liquidity which allows to spend on the network). Respectively, the recipient needs to have inbound liquidity (which allows to receive).

The business can open a channel by sending the Bitcoin to a third party who makes it available as inbound liquidity on the newly opened channel
If I'm understanding right, you're asking how the recipient can gain inbound liquidity. The answer is either someone opens a channel with them (which initially would grant them all the liquidity as inbound), or they open a channel with someone and convert their outbound liquidity to inbound (e.g., by selling LN-BTC for BTC).

What needs to be mentioned is that none of the peers forfeits their custody, at any point.
957  Other / Beginners & Help / Re: Why don't you use DEX? on: January 18, 2024, 06:25:41 PM
why many peoples don't buy their crypto's this way?
Here are a couple of reasons from the top of my head:

- There are no shitcoins, and usually people get into cryptos for getting rich quickly.
- They've spread their personal documents in quite a lot of places already, so they don't care doing it again.
- They don't know KYC might pose them a threat.
- There is less liquidity.
- There is no marketing, as with affiliate links and advertisements, which draws the attention.
958  Bitcoin / Development & Technical Discussion / Re: Accepting Bitcoin without a confirmation on: January 18, 2024, 06:18:16 PM
Unfortunately Lightning does not solve the problem because it adds a third party into the transaction and additionally requires capital to be tied up in the liquidity channel.
You have misunderstood. There's no transaction intermediary in the same sense as with the banking sector, unless you have specified otherwise (e.g., using a custodial wallet). When opening a lightning channel, the funds remain on your possession, and you can close the channel either cooperatively or non-cooperatively. There are "intermediaries" in the sense that the payment gets through various routes until it reaches the recipient.

For example, if Alice wants to pay Charlie and they don't share a channel, they have to go through Bob's node that shares a channel with both Alice and Charlie, like this:
Code:
Alice <---> Bob <---> Charlie
959  Economy / Reputation / Re: Farewell on: January 18, 2024, 11:08:12 AM
Wasabi dev praising for someone's death. Here is the moral gatekeeper I should trust on blacklisting my coins.

What a scum.
960  Economy / Services / Re: LoyceV's Avatar for Rent [first 🦊🦊🦊🦊4 YEARS🦊🦊🦊🦊 (252 weeks) rented out] on: January 18, 2024, 12:12:32 AM
Spot on. John Donne poem "For Whom the Bell Tolls"[1] captures the on going feeling for me.
The poem gives me chills. We are all part of the island. And the sea... The sea just washes the coast. We never know when it's our time. It is both wonderful and terrifying. It pushes us to live, love, learn and effect change. Time is the only asset we truly can't afford to lose.

I once heard a saying about immortality that I simply can't forget. "If you were to live forever, you would never get up in the morning". Limited time is the incentive for an enjoyable journey.
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