These people are retarded

Will anyone think of the innocent node runners?!?!

Time to add privacy to bitcoin?

Never sell your Bitcoin.

Bitcoin is a weird project whose developers and maintainers seem too scared to do anything, making it increasingly useless for privacy or commerce. We are not going to see meaningful commercial adoption. We are not going to see meaningful privacy solutions. I'm increasingly convinced this is no longer a serious project. Eltoo has been discussed for years with no movement, while liquidity constraints continue to limit operator diversity. Covenants of any kind have been bikeshedded to death. Most of the serious PR work is 6 to 10 years old and stale. People who care about Bitcoin are increasingly pivoting to anything else. Even a heavily nerfed, safe covenant proposal that adds only 32 lines of code is never going to deploy.

bitcoin is a weird project whose developers and maintainers are now too scared to do anything - making it essentially useless for privacy or commerce. - we will not see commercial use of bitcoin on any meaningful scale. - we will not see privacy solutons - increasingly convinced this is not a serious project anymore - eltoo has been "discussed" with no movement while liquidity issues prevent operator diversity. - the solution (covenants of any kind), has been bikeshed and discussed to death to the point where people who care about bitcoin are pivoting to "anything else". most serious PR work is 6-10 years old and stale. - even nerfed, safe and 32-lines of code covenant tech is never going to deploy.

Many of us have been sounding the alarm about this obvious fed for years now.

This bill, at least from what I saw when it was first put forward by @SenLummis and @SenBillCassidy, quietly slid under the radar. This bill is exactly how I would design and push a first step towards stepping in as the government to capture and distort the mining ecosystem. Open ended information collection and reporting to the government, preferential economic treatment in the forms of grants, loans, and even capital gains exemptions for those that comply, and zero thoughts given for the burden that would put on mining companies and entities. All to slant and distort the economic incentives of the system to favor those miners to domicile and establish themselves in jurisdiction, thus exposing themselves to coercion from the US government. This bill would be a complete disaster that starts us down the path of ultimately attacking and undermining the proof-of-work ecosystem that allows Bitcoin to function credibly as a decentralized and neutral system in the first place.

Huge progress update. We will soon have Cashu Ecash mints in secure enclaves that the mint operator can't steal the Bitcoin from, not can they inflate or manipulate the Ecash supply. The operator has no access to the private keys of the mint. This is amazing news for users and operators alike. It allows us to build tools for communities that allow them to run mints without being afraid of malicious actors, internally or externally, such as security threats from hackers. We're building this for the Bitcoin community first but we're planning to expand this also for local currency communities outside of the crypto space that exist in pockets all around the world. Especially the local currency tech stack is old and antiquated. We're going to give them the most advanced ecash protocol they could ever dream of. For free! Lots of moving parts here: servers, libraries, backend, wallets, and protocol extensions. Incredible work by the entire Cashu team.

Covenants substantially improve pretty much every scalability solution including Lightning, Ark, Statechains, and more.

Agree. Zcash's privacy tech makes it the most interesting Bitcoin alternative. Bitcoin is great, but "if it's not private, it's not safe." x.com/masonic_tweets/status/…

the problem with this whole discussion around zcash versus bitcoin is that bitcoin could offer something very similar to zcash if given a way to do SNARK verification in Script (i.e. GSR) i wish the conversation focused on that instead of arguments over zcash's silly premine!

Bro what

Gaslighting or retarded?

bitcoin vs bitcoin with covenants

that goes without saying, fren. but a lot of people are conflating decent enough privacy for a pleb with wartime, adversarial-to-intelligence-state privacy for a dissident, which it is not. not yet anyway!

the concept that bitcoin use is private with the correct skill set is true but only in the sense that a) it's not a guarantee tx will remain private forever b) the skill set to use it means there are ~10k people in the world that can do it and c) probably a 1/3 of them are spooks

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A major lesson from the Prime Trust fiasco is that legal protections (e.g. qualified custody) do not protect you from negligent custodians. Operational excellence and transparency are what matters. Does your exchange publish their financials? Do they have proof of reserves?