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BIP-300, which enables a feature called Drivechains on the Bitcoin network. Normally, one would hope that the author of a BIP is not very central or relevant to whether or not it gets attention, but as Sztorc seems to be the major voice continuing to push for Drivechain after being essentially rejected or ignored on the forums and mailing list, it might be worth knowing this brief background & motivation. Sztorc is no intellectual slouch, and he's very open about his conviction that the success of Bitcoin is fully dependent on its adoption of Drivechain. Drivechains fundamentally change the transaction validation mechanism from “all spends must provide cryptographic proofs” to “some spends do not require cryptographic proofs”. It fundamentally changes the ability to attack the network from “the attacker must acquire 51% of the hash rate” to “the attacker must propose a transaction and fight out ownership in meatspace”. It fundamentally changes attack response from “move hash away from the bad actor” (e.g., out of a pool, or by adding more honest hash) to “convince all the miners or nodes to do a UASF in favor of one party over another”.
$Bitcoin has been compared to a decentralized clock because of the way it keeps track of the order of transactions as they happen around the world. The nature of inscriptions on Bitcoin uses this ordering to number the inscriptions as they are written onto the blockchain, aka timechain. As the inscription count approached 100,000, people rushed to get their inscriptions confirmed before or exactly at that number. We saw the largest increase in fees around this time. After this monumental inscription number, the rush to create NFTs on Bitcoin has drastically decreased. While there is still a backlog of transactions in the mempool, the fees required to get a transaction confirmed in the next block have dropped considerably and the daily total fees spent on creating inscriptions is “down only.”
Tweets: @BitcoinMagazine $Please tag @BTCNEWS_TODAY on Twitter to submit tweets. Follow us on nostr - npub1news9epyjkzguhgt6mlkavdsmnqs4j632u673j0kelypwh644jfst82v2c
Tweets: @alexbosworth @giacomozucco @BTC_Archive @LynAldenContact @DocumentingBTC @jameslavish @lylepratt $Group of 20 (G20) nations have some disagreements over restructuring debt for distressed economies, the chief of the International Monetary Fund (IMF) Kristalina Georgieva said on Saturday, adding that banning private cryptocurrencies should be an option. "We have to differentiate between central bank digital currencies that are backed by the state and stable coins, and crypto assets that are privately issued," Georgieva said. "There has to be very strong push for regulation... if regulation fails, if you're slow to do it, then we should not take off the table banning those assets, because they may create financial stability risk."
Tweets: @Reuters @ReutersBiz @CoinDesk @FoxBusiness @CaitlinLong_ $Please tag @BTCNEWS_TODAY on Twitter to submit tweets. Follow us on nostr - npub1news9epyjkzguhgt6mlkavdsmnqs4j632u673j0kelypwh644jfst82v2c
Tweets: @TXMCtrades @MichaelAArouet @therationalroot @alexbosworth @TXMCtrades @TXMCtrades @jimmysong @jimmysong @tony_intern @Crypto_Mags @JoeConsorti @CoinDesk @balajis @LynAldenContact @zerohedge @alexbosworth @BitcoinBrabant @pete_rizzo_ @JoeConsorti $Unbeknown to many cryptocurrency newcomers, in 2014 the world’s largest bitcoin exchange, Mt. Gox, went bankrupt following a series of hacks and mismanagement issues. The fall resulted in customers losing over 800,000 bitcoin — a level of worry that makes FTX seem like a blip in time. Tokyo-based Mt. Gox, whose domain (MtGox.com) was originally registered in 2007 to host a trading site for the wildly popular “Magic: The Gathering” game cards, began operating as a rudimentary bitcoin exchange in late 2010.
$Building a Bitcoin wallet is no easy task, but with the right tools and frameworks, developers can build robust and secure wallets that provide a seamless user experience. The use of Flutter, BDK, and other standards and protocols provides a powerful and reliable platform for building Bitcoin wallets.
Tweets: @Anipy1 @Anipy1 @Anipy1 @Anipy1 $Last month, Bitcoin developer James O'Beirne sounded the alarm: The dominant blockchain might lose some very talented contributors if someone doesn’t step up to pay them for their work. That work involves writing and maintaining code for the Bitcoin blockchain, tasks completely dependent on grants and donations from businesses and voluntary contributors. But relying on grants, stipends and free labor makes Bitcoin development prone to the ebb and flow of crypto markets – and goodwill.
Tweets: @gladstein @stephanlivera @jamesob $Please tag @BTCNEWS_TODAY on Twitter to submit tweets. Follow us on nostr - npub1news9epyjkzguhgt6mlkavdsmnqs4j632u673j0kelypwh644jfst82v2c
Tweets: @BtcRetreat @coinbeastmedia @jameslavish @stack_wallet @IIICapital @LynAldenContact @hodlhodl @kerooke @naija_bitcoin @Pledditor @saifedean @IIICapital @kerooke $Blockstream, a leading Bitcoin infrastructure company, has announced a formalized Blockstream Research team with a focus on advancing the platforms at the core of the Bitcoin ecosystem, tackling complex problems and pushing the boundaries of what's possible with Bitcoin. The research team now consists of 10 highly experienced researchers, including the likes of Andrew Poelstra, Andrew Chow, Dr. Russell O’Connor and Christian Lewe. There are a variety of projects already in progress that the research team is working on. The team has created a more robust programming language, Simplicity, which is designed as an alternative to Bitcoin Script. The team has also created Miniscript, a safer language for writing structured Bitcoin Scripts that enables analysis, composition, generic signing and more. In addition to this, the company is also developing Elements Script, a set of extensions to Bitcoin Script that includes new covenant opcodes, which are still being explored.
Tweets: @adam3us @Blockstream @Blockstream $The regulators stressed that banks should actively monitor the liquidity risks tied to crypto-derived funding sources, assess any potential concentration of funding they may have in the sector, monitor representations their crypto partners may make to the market regarding funding, and incorporate liquidity risks into contingency plans, including stress tests for liquidity.
$Lndhub started as a weekend experiment on a new fringe technology barely used at the time called the Lightning Network. Today, with the availability of more mainstream services offering scalable solutions, Lndhub has fulfilled its purpose in its current form. Lndhub as a software and FOSS self hosted solution will keep existing and being supported for anyone interested in running it. You will always be able to connect to your own LndHub from BlueWallet or other software that supports LndHub API specification. If you have sats on BlueWallet’s lightning node, please move them as soon as possible.
Tweets: @bluewalletio $Please tag @BTCNEWS_TODAY on Twitter to submit tweets. Follow us on nostr - npub1news9epyjkzguhgt6mlkavdsmnqs4j632u673j0kelypwh644jfst82v2c
Tweets: @BitcoinPierre @DocumentingBTC @Blockstream @bradmillscan @adam3us @BitcoinMagazine @coryklippsten @WhatBitcoinDid @ZeusLN @lopp @MDBitcoin @Breedlove22 @raw_avocado @IIICapital @blksresearch @ChadCloutman @MaxAWebster @BTC_LN @josephfcox @JoeConsorti @fiatjaf @alexbosworth @gladstein @BitPay @unchainedcap @lopp @stephanlivera @PlebLab @RSync25 @garyhoward $Self-hosted addresses, formerly known as “unhosted wallets” in the European Union's policies, are back in discussion as European Parliament staff look to clarify that lawmakers do not want an outright ban on non-custodial services. Self-hosted wallets will still be subject to a transaction limit of €1,000 ($1,070) if the owner cannot be identified. This aligns with the TFR requiring originator and beneficiary data on crypto transactions of the same cap. The change from “self-hosted wallets” to “self-hosted addresses,” however, may cause regulatory uncertainties since the TRF, with its text finalized, uses different language from the Parliament's AML proposal. The AML proposal under the European Council also currently refers to "wallets" and not "addresses."
$Keynesian central banking has turned the American economy into a giant economic science experiment. They are flying by the seat of their pants, guesstimating as they go, while pretending it’s all coming out of scientific economic models. The drunken sailor’s take on the US economy and inflation articulated by Lael Brainard reflects nothing more than the ever-changing groupthink of the Fed heads and their acolytes on Wall Street. It is based on the in-coming data from primitive government measures of inflation, employment, GDP and other macroeconomic series—all stuffed into an economic framework/model predicated on blatantly faulty macroeconomic theories.
$Your guide to ordinals, lightning minecraft servers, personas, a whole bunch of conferences and bitcoin job opportunities.
$Moves by financial market and banking regulators over the past few weeks have had crypto industry participants on alert regarding a regulatory crackdown in the US. While we continue to believe that ongoing regulatory and legal clarity is beneficial for the industry, we understand that given the flurry of news, investors have questions about the state of crypto regulations, how it impacts businesses, and the path ahead. It is important to understand that while there has been a flurry of regulatory activity in this space, none of it is existential. Nothing we have seen so far nor foresee on the horizon portends the banning or outlawing of digital assets. Certainly, the business practices of some industry participants are being called into question as is the regulatory designation for certain assets. However, we ultimately feel that sensible guardrails and knowing the rules of the road allow investors to confidently deploy capital in the asset class, benefitting prices.
Tweets: @NYDIG $oundry Pool is nearing the 40% network hashrate mark–an uncomfortable margin for many Bitcoin enthusiasts. While an attestation to the Foundry team’s ability to bootstrap, grow and sustain a mining pool within three years, the percentage needs to come down for a few reasons. Chief among them being the type of clients Foundry services: public miners. There’s two threats worth paying attention to: confirmation times and feather forks.
Tweets: @ercwl $Please tag @BTCNEWS_TODAY on Twitter to submit tweets.
Interest earned on bank accounts, certificates of deposit and corporate bonds is subject to income tax in the year it’s generated, according to the Internal Revenue Service. Typically, that’s a fairly straightforward process: Banks and other institutions send out 1099 forms listing the taxpayer’s interest income, which is then used when determining overall obligations for tax season. But in a quirk of last year’s crypto collapse, investors are now receiving tax bills for money locked up on platforms like Celsius and Voyager Digital, which have frozen customer withdrawals as they undergo bankruptcy proceedings. It could hardly come at a worse time for crypto investors.
Tweets: @realrephy @CryptoTaxesGuy @business @CryptoTaxesGuy @CryptoTaxGirl @ckaminsk $What’s the best solution for you? The best solution is the one that fits your personal needs best. Every wallet has different features, as well as up- and downsides. It is on you to figure out your needs and possibilities and then to find the optimal solution for those. Non-custodial Lightning wallets might be a little less convenient to use and come with an initial cost when setting up the channels, but you are in full control over your own funds. You are financially sovereign.
Tweets: @AnitaPosch @TheGemHodlers @BTC_LN $The Human Rights Foundation (HRF) has granted 2 billion satoshis, approximately $475,000, from the Bitcoin Development Fund to 10 global projects. The funding will support areas such as censorship-resistant communication, Bitcoin education in authoritarian regimes, core development and building local communities and education, with a focus on Africa and Southeast Asia. The grants include $100,000 to Qala, a fellowship program training the next generation of African Bitcoin and Lightning developers, allowing the program to continue their 13-week fellowship and sponsoring six Qala fellows to attend the Oslo Freedom Forum.
Tweets: @AnitaPosch @gladstein $Please tag @BTCNEWS_TODAY on Twitter to submit tweets.
Tweets: @gladstein @BitcoinPierre @CaitlinLong_ @VailshireCap @FossGregfoss @amlivemon @grant_mccarty @gladstein @giacomozucco @LynAldenContact @RSync25 @gladstein @gladstein @IIICapital @gladstein @WalkerAmerica @parkeralewis @gladstein @unchainedcap @jackmallers @BtcpayServer @gladstein @gladstein @IIICapital @raw_avocado @SovrynM $We used to be organized into families and tribes. Nowadays, we're organized into companies, which are very debased versions. Companies are artificial and don't have anywhere near the level of history or close relationships that families do. You can feel it in the pointless meetings you're forced to attend. Yet companies are very much the way individuals are organized in a fiat economy and this is due to the incentives of fiat money. We used to depend on our families, our clans or our tribes for our security. Kin was who you depended on to help you in times of need. Fiat money has changed everything by providing all manner of safety nets for individuals through these companies. All of these functions have been subsumed and you are now free to replace your family with government goodies. Insurance and money are poor substitutes for human relationships, like seed oils for butter and just about as toxic. Social security and pensions have replaced children. A cold, impersonal company that will lay you off at the drop of a hat has replaced the traditional family trade. Is it any wonder that people are so depressed?
$Please tag @BTCNEWS_TODAY on Twitter to submit tweets.