when you look at your LN gui and when you are sending msats in onions to the leapfrog game of middlemen who need to agree.. . you are thinking that you are going to get a 1:1000 rate of sats:msats when its time to broadcast.. right?
how sure are you of this ..

here is the thing. services and counterparties can talk people into downloading specific wallets where it offers certain services

things like inbound balance without a confirmed lock of funds to back it.
where the msat balance in GUI does not peg to a signed transaction of 1:1000

so while you happily play with inbound msat balance by a counterparty.. what you end up in the broadcast may not be what you think

..
have a hard think about that

oh.. and many LN devs themselves have lost funds.. and still have not come up with solutions. just so you know

most hacks are not hacks..
.. just CEO wanting to retire, taking he coins with him but blame someone else.

the FTX "we been hacked" just seemed such coincidental timing to want to ship lack of reserves on a hack the days after they got whistle blown that funds were missing due to internal fractional reserving and money shuffling by those inside FTX.

ok lets delve into this more

ok binance has ~26m customers and a publicly viewable address list of reserve totalling ~575k btc

lets call it an average of 0.02211538 a user

what you are trying to say is that "what we dont know" is that they might have PoR of only 57k reserves. and only 1000 customers listed in the merkle with ~57btc average, which doesnt tally to the true customer holdings..

sorry but no.. just no

each person can see they are part of the merkle. and the merkle totals up to the same amount as the reserves

the merkel hash of a users leaf is their account details and balance hashed.. and outside the hash is a clear text of the balance aswell

users can check the balance(clear) matches their balance thats hashed to confirm nothing shoddy happening with their leaf(no miscount of their balance)

then for the clear text balance they can see all balances add up to the total. and that total matches the known bitcoin reserve addresses total

knowing they are included in the total. meaning knowing the reserve owner has enough coins to meet all of those clear text balances, no matter who they are. it shows they are included and not forgotten

there is no "negative " balance as that will be easy to spot

.
if you want to go opposite and say "imagine if CZ made an account and put 10k coin and added that to the merkle

then the clear text balances would total 585k coins instead of 575k coins.
which as long as the new 585k coins match the public bitcoin address reserves of 585k coins. then it simply means there are enough coins in binance control at that time to not only pay all users that can be seen and self verify they are part of the merkle total. but cz too
.
problems only arise when the merkle total does not tally with the reserves total. .. and thats the point. showing they do tally shows .. wait for it.. proof of reserves

if people have a hash. but cant find their hash in the merkle.. that too is a problem because then CZ is not tallying all users meaning there are more users balances not accounted for compared to the reserves addresses.
but if every user is found in the merkle. then it tallies

...
now with all that said
even with things tallying up

there is not much to stop a business from just one day moving funds out. disabling account access running off to an island and shouting "i been hacked" while sipping a cocktail on a beach holding all reserves to himself, while pressing a bankruptcy announcement button on his phone with an evil laugh

maths has already been done
full node users are normally people that want to use bitcoin regularly and support the network

if you want to be a full noder. then the costs/day of a hard drive and internet are cheaper than the average tx of a next block confirm

so again to emphasise it. the tx fee is higher then "resource cost"

..
now here is the thing
just to use bitcoin. you do not NEED to be a full noder. you can simply get a seedkey. and start "stacking sats" onto your key by just copy and pasting an address for people/services to pay into.. where all you need is a keyboard
(in the most simplest use of bitcoin investing)
and just use a lite wallet when its time to get out. for those that just want to use bitcoin for long term investments

the more you WANT to be involved in bitcoin and use bitcoin. then you can use better software. but again..
the more you want to use bitcoin you find the fee's of that more frequent use that you prefer to protect with better levels of software.. its still the fee's that cost you more. not the hardware required to run it

---

however those few playing the resource crying game.. they NEED to full node because their subnet payment system that is not bitcoin but a bridged network with pegged other units of measure used as payment amounts.. requires them to have a 24/7 active node or employ a watchtower service to watch constantly of the bitcoin network. due to a flaw in their subnet that allows their subnetwork counterparty to steal from them if they are not being watched.
when it comes back to converting their subnetwork value back to bitcoins

that cost of resource is not due to bitcoin but due to the security flaw of their subnet.
yes they could employ a service to watch. but thats extra cost. more than the resource required to run a full node. plus watch towers are more middle men that have access to broadcast signed payments to move funds to whomever employed them. so more security risk by other parties involved in their subnetwork
..
however.. sticking with bitcoin.. not using the silly subnetworks
in bitcoin when funds are confirmed. you can switch off your computer and go to bed and not worry.
i have coins from years ago that i dont ned to regular check on. as i know they are secure.

so the cost for the subnetwork users is based on the lack of security and flaws of their altnet NEEDING them to be actively watching even if they are not actively using

because you watch the reserves. you see when their main hoard entered the address.. if it was in the last month.. then its suspect.
if its a progressive gathering slowly over years, less suspect(normal behaviour)

if it all moves out tomorrow.. then you really keep an eye on its movements

if someone has a personal stash of 100k+ coins. bribery wont do it. .. maybe favours or blackmail would. just saying

as for assuming its exchange owners personal stash.. yes assume all exchanges treat coins as their own. stay risk aware. but dont go into ignorance with "but we just dont know"

its more about if there is a total amount.
and within that amount all account holders can see that  they are accounted for within that total. then they know they are accounted for.

agreed

nation states dont watch everyone. they delegate services like exchanges to watch their own customers.
nation states are not interested.. ministers/senators dont read reports or keep records..

you will find that regulators(separate from politics) are run and operated like businesses too. heck the CEOs of the two main US regulators are not politicians but banker lineage

you will find its regulators (group of non politicians that are mastered by ex bankers)
 that are not actively watching everything you do. they are reactive to reports handed to them by businesses, they are only interested in the juicy reports of suspect behaviour because even regulators dont have the man power to watch everyone. its far cheaper for them to reward businesses with a commission/bounty for handing them a suspect report

this is why nations(politicians) say if you do nothing wrong you got nothing to fear. because your name and shopping list doesnt even reach the political ranks. they just dont care about you.

yes your data sits on exchange/business platforms and those businesses can trade your data(even to regulators).

but atleast understand that its the BUSINESSES that you should point fingers at.. not bitcoins blockchain or a senator/ministers. because both are not asking for your real life information  or your shopping habits
they dont care. senators/ministers are just voted in guys that have other agendas. they dont care to look at your shopping list

i am not worried thinking that some government minister has my data. .. its more of a concern about businesses that have my data

if you are worrying that some senator/minister has your data.. your wasting worries and time. if you are worried your data is on the blockchain(name and product purchase list) you are wasting your time too
your data is with businesses. once you realise who and where data can be found. then you can start to preserve it by not giving it

most of the mainstream news is promoted and instigated by the wealthy who agree to tell their stories to media. which sets the narrative. and yes maybe some are linked to politics

in the cryptosphere however most of the drama are those highly trusting of the DCG sister hood. you can spot it because there is literally very little announced by those folks about the DGC and its status in the contagion.. yet all fingers are pointing at binance. even though it was binance that whistle blew

i dont use or support any exchange. what people should do however is keep a level head and actually delve deep into finding the facts

idiot investors dont care that FTX stole their coin. they care that their stolen coin became public(dream bubble burst) due to binance triggering people to realise they lost their coin. so they put their anger on binance.
for waking them up

dont enter the social dram games of finger pointing away from the problems. actually look for the real problems and become risk aware

trying to plead ignorant and not want to know, is where people then get stressed the most when their dream bubble burst and they are running in circles not knowing what to believe next

knowing the truth and being risk aware can keep you calmer

your even using the buzzwords of certain scripters. you are too obvious that you cant think independently.

the reason forks dont have a wide community is because they are altcoins..
aka crapcoins.. its that simple

if you want to pretend hardware constraints are the physics reasons to not scale bitcoin.. guess what. you are breaking physics by living in a 2007-2015 mindset, even though reality is that its 2022

wake up its 2022. get out of your coma dream and start living in 2022. use some real world evidence. not the written social dogma you follow

a hard drive to cope with scaling up bitcoin costs less over the life span of a computer. than the total tx fee's of regular use of bitcoin in that same timeframe..
tx fee's are a more costly constraint
and whats causing fee's to be premium.. not scaling up bitcoin

people not being able to just transact daily due to lack of scaling is why people dont daily use full nodes. because whats the point keeping a node open if your not going to use bitcoin daily

its like why keep the car engine on when you are not driving it
its like why keep a house light on in a house you dont use every day

if people can use it every day without congestion or a large congestion charge  they would use bitcoin MORE meaning expanding the community

its called economics. learn it

bitcoin is not restrained due to physics.
bitcoin is restrained due to the politics of economics, trying to promote other networks and services as the "must use" things

il give you a hint. mining in 2012 = gpu mining.. not rocket science.. you dont even need a calculator or to investigate that

i was saving you time by highlighting:
dont be lame and lazy wasting time on the franky public pseudonym/play money.. thats easy.. instead find the stash and name of the human behind the pseudonym typing the posts

and another hint. read my part (e) of my last post
hint being my(human at keyboard) stash was separate wallet to the 1franky(just a nickname) wallet
the 1franky play money went into btc-e and i traded that then another exchange then another.
it was my "dont give a crap" play money address
the associations i did not give a crap about nor the amount. both were insignificant.

last time i used 1franky address was the forum anti-hero competition reward because i did not give a crap for those coins and didnt want them associated with my(human) stash because they were coming from things like chipmixer. which is a no-no for exchanges.. so i threw that reward in an address that proves they paid out to the competition winner (pseudonym) but where i dont care to use them

i dont even think i kept the key for that addresses privkey either in last 4 years, nor do i care to find it. those coins are dead to me. much like my pseudonym doesnt have a heart

the whole reason i said find my(human) stash and birth certified name. is because if people think that not using mixers means their stashes and real life info can be found.. try it.

do you get it now angelo

at the moment there is a hard limit of 4mb.
there is a cludgy limit that keeps data throttled down at about a 1.4mb average, keeping tx count allowance low

there are also rules for ~105,000 blocks in 2 years

so simple math 105k blocks times 1.4 =~150gb for 2 year (650gb total)
or upto 420gb a year using the uncludgy max 4mb rule (920gb total)

chances of devs suddenly raising the 4mb block limit above 4mb is pfft. seems like something not on their roadmap this year or next. so presume we are stuck with the restraints of the 4mb limit. where they "may" remove the cludge to atleast get to 4mb of data per block instead of throttled down at a average of 1.4mb.

and most would prefer the cludgy limit to be taken away to then actually allow more utility of the 4mb for actual tx count increase anyway
and progress from there in a few years after that

so for 2 years guess around the 650gb total for full archival at current rate-920gb for full archival if cludgy code removed to full utilise 4mb block limit

address above holds no balance.. funny people didnt even bother veryfying it

also if you sign an address. dont just sign the address by using the address as a message. or a broad meaningless message like this forum "bitcointalk"(facepalm)

because then someone will just go somewhere else and make a reason to say "ok im gonna prove im a early adopter and a forum user ill sign a message now (in the future) of funds early mined and ill use the message "bitcointalk"

and they then just copy your signature.. thus pretending they own your coins.. which is them trying to pretend they have false collateral and also that they are false early adopters

if you are going to sign a message include your username so that if someone else copy/pastes the signature pretending they own those coins. they have to explain why the message says "property of forum username onesignature" rather and a blanket message of just "bitcointalk"

some people think everyone sells when there is a ATH

but here is the thing. the reason an ATH stops going higher is there are no longer buyers willing to buy. meaning there is a lack of trading happening at the top

most escapers sell at a more reasonable amount of  75%ile range of a ATH, either too early on the run up or on the correction down

so lets assume this for a moment

2015 @$400 for 1 btc
turns into a sell in 2017 @75% of $20k ATH=$15k
turns into a buy 2018 $5.6k plateau = 2.67857142btc
turns into a sell at 2021 @75% of 70k($52500/btc)= $140,625

so from $400 to $140k in 7 years
without going to the extremes of timing the exact tops and bottoms

apparently these are the wallets that total the binances 575k btc customer funds

34xp4vRoCGJym3xR7yCVPFHoCNxv4Twseo           252,597 BTC
3M219KR5vEneNb47ewrPfWyb5jQ2DjxRP6            127,351 BTC
bc1qm34lsc65zpw79lxes69zkqmk6ee3ewf0j77s3h 102,610 BTC
bc1qazcm763858nkj2dj986etajv6wquslv8uxwczt   94,643 BTC
                                                                 total  577201 BTC

quick google search shown 3 or the 4 are tagged on bitcoinrichlist as being binances too. but could be wrong

meanwhile in last couple days 100,000k of coinbase reserves moved out of coinbase..

basically the mtgox movement is small fry in the big scheme of things

current blocks are about 1.4mb and there are 52,500 blocks a year average. so ~74gb a year =740gb a decade
meaning yea a 1tb could do that job based on current stats..

however should devs finally remove the cludgy bad math miscount code
it could easily become 4mb blocks of proper legacy utility meaning ~210gb a year which is if you want a PC to last 4+years, fine. but 10 years presuming they will finally shift the goal post by removing the cludgy math code legacy limit within the next decade, its to be a 2.5TB+ hard drive

there is not much difference between a 1tb vs 4tb in price its not like the price is 4x. so better off on the long run to have a 4TB hard drive

yep

the SEC can only regulate financial payment services.

however the CFTC has a broader scope. they can both regulates the services but also put regulations on the assets themselves
(quota's, quality control, lessen environmental impact, restrict who can invest (only professional investors)

for instance the CFTC along with the EPA put quotas on farming and quality of production. they can restrict which type of fertiliser and weed killer is used. etc.. all to ensure only whitelisted high quality traceable wheat enters the wheat commodity market

this is where if bitcoin is treated more as a commodity rather than an asset it opens the doors for the CFTC and the EPA. which meansin they can go after the mining industry and the the developers to do a PoS detonation(worse case, but possible)


when bitcoin was young 2009-2014 it was not deemed a currency meaning services were treated not as currency exchangers. but as merchants selling collectables(much like how NFT is not being regulated yet.
but since deemed as currency (lobbied under the false pretense of "mainstreaming". then SEC regulators found their way into the door
now if its changing to a commodity. CFTC gets it foot in the door

some will say "yea but what about the benefits that maybe a financial service can finally get an ETF and boom mainstream"

to which i reply "but what about them requiring all wallet developers to add code that meeds regulatory standard. or asks miners to not operate in certain locations or limit hashrate per location

i was not the one telling people to use different ID's for each daily action/event with a service.
it was you that was telling people to do it. and i was the one telling you the pitfalls in your idea.. which is why i said "i call BS" because if you were to be doing it. you would have found the pitfalls and realised its not an idea worth promoting as it doesnt work

its actually you that should challenge yourself to do the things you say before you suggest it to others.. just test out your theories before implying its a working idea, implying that it has proven itself effective.

by testing your theory so you can see the result of the actions you are asking others to do..you then realise the pitfalls of your idea's..

but it seems however, you quickly realised your mistake.  you have now realised your request of others to destroy an identity per action would actually get an exchange to notice their attempts of service abuse more and cause the service to flag people MORE and link their accounts. and put them on a watch list

so you have learned .. good. your idea does not work with CEX services
you are willing to learn and correct yourself +1point
much like those advertising using a mixer pre custodian. such actions of mixers and using isposible ID's are not privacy concerving. but instead red flag triggering to get you noticed more out of the noise of millions of normal users

did you know that exchanges dont actively have employees watching their customers trades 24/7.
you are not being "watched"
yes they keep data logs. but as long as there are no red flags that data just stays logged and is not seen by a human eye or reported.

however using false ID or mixers are red flags that do start investigations..

much like wanting to not be seen when walking down the street your advising others to run around and do extra work and do things that look out of the ordinary like sneak behind bushes, shimmy under parked cars.. yet those activities actually catch peoples eye more and they start looking at you wondering what you are upto.

.. sometimes in life.. less is more. the less attention to attract to yourself the more you get to hide in the noise of normal activity which no one listens to because they are prefering to concentrate on other more important things.


maybe write cryptocurrecny users that use services.. just to be clear.

rather then specifying a certain group.
oh and more coin is stored in exchanges over on the ethereum network than the bitcoin network. just saying

but you are calling out "bitcoiners"

oh and last time i checked of all exchanges combined only 16% of coins were ever custodianised at its peak. and since the fiasco of some exchanges that is down to ~13% as of today.. so its not a majority of bitcoiners that are using exchanges as custodians. should you dare check

again. go check ethereums exchange market reserves.. and separate exchange custodian staking hoard

you will see a higher percentage of ethfairy's(people of ethereum) dont care much about their privacy because more of them use custodians

by you implying that because bitcoinser dont employ tactics of XYZ there is a privacy issue for bitcoiners.

again clarify that its SERVICE USERS you are addressing rather than brushing majority of bitcoiners into your minority category
......
oh one last thing

i have a stash of many bitcoins gathered since 2012. probably alot more coins than you have..
i dont use mixers or coinjoins. but i do spend with bitcoin merchants..

i dont use disposable IDs per action..

soo.. find my stash.
heck ill even give you 5 hints
a. funds are in addresses only used 2012-2022
b. funds were added over those years but mainly 2012-2014
c. the hoard:spend ratio is   20:1
d. i dont have that many address
e. no its not the 1frank vanity. as that was just a joke address for 'penny grabby' play money amounts i never intend to spend

also find my birth certified name

.. goodluck

but mainly .. atleast try to not imply things.. and instead use the term "cryptocurrency users of services" rather then targetting "bitcoiners"
there is a HUGE diference

that is a good risk adverse way of thinking

it also applies to sidechains and subnets that have a main currency lock plus a currency converion mechanism too
ones that require conversions/rounding of the payment to the lock spend tx. where you dont have access to the underlying raw TX view(not part of wallets GUI) to know what is being signed and only a other network token valuation visible while on the sidechain/subnet. which you only know the conversions are correct when you try to get back to the main net and realise your side/subnet wallet didnt do as promised

be risk adverse and not just trust the social cycle of utopian hype

there is hope for you yet

here is the thing though

while people are targetting binance heavily. i find it funny no one is targetting the businesses of DCG which are sisters of FTX

and lost hundreds of millions in the FTC fiacso.. where as from whats reported binance broke even when it escaped via selling FT and then whistle blowing

i would still like to see binances liabilities though. im not a user so no risk for me either way. but just for informative gaze at how crypto businesses are performing/operating

anyway, with DCG:greyscale
in the "everything about greyscale but afraid to ask" topic

myself and others have been looking into things about them

for instance in the TOS user agreement.
grey scale have some nasty terms where it can literally stop access to the entire site at its sole discretion without reason or notice

where as binance terms even in a suspension allows user access to withdraw funds it just deactivates the tabs for doing things like market orders.
..
grey scale says that it does not hold the trust collateral and that coinbase does. and that coinbase cannot tell greyscale the totals, nor tell greyscales customers.

thats a big warning/double red flag

if grey scale cant even see its own books.. they are not going to be able to do good business

so its a case of "do as i say" not a "do as i do" case.. ok got it


so you never bought anything with bitcoin or fiat online requiring some kind of info ever. ok got it.
sucks to be you. you could get great deals on things both in bitcoin retail and fiat retail online.

in my case i USE bitcoin. i buy things. you know things that need delivery to me.

in every subtle questioning of "bitcoiners dont care about privacy" you imply bitcoin doesnt have any.

you need to separate "bitcoiners"(network currency users) from "crypto service users" there is a major difference. by just implying bitcoiners cant be private if they are not doing XYZ. you imply bitcoin has no privacy. when infact its the crypto businesses and services that are the information gatherers of personal datapoints. not bitcoin

the reason i am directing certain subject lines at you is because i see you in many topics toe a party line of a certain group that want to break bitcoins consensus and accounting ledger protocol, to make bitcoin a more privacy enhanced tool.
which i feel this topic was trying to be a subtle introduction to. with its subtle implications on "bitcoiners" rather then "crypto service users"