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10 sats \ 0 replies \ @chytrik 18 Jul 2023 \ on: Wormhole attack in Lightning explained simply in 4 slides bitcoin
Interesting, and nicely illustrated. Good stuff
Bitcoin's specific supply schedule works well as a marketing tool for those that see merit in Austrian-style economic thought, but the reason Bitcoin is interesting is the censorship resistance! Of course, having an immutable and well-defined supply schedule helps enable censorship resistance, but it takes much more than just that.
So the potential danger to Bitcoin extends beyond just the potential for the supply schedule to be altered, in fact any attack against the network's ability to enable censorship-resistant payments is a danger.
All of that is to say, I think that regulatory capture is much more of a pertinent risk, than the potential of a future tail-emission hardfork.
In April 2023, the number of bitcoins needed to pay for shawarmas, groceries, fuel, shelter and all the other living expenses in Statistics Canada’s average family budget was 40.8 per cent higher than one year earlier.
Number of bitcoins(!) needed for a shwarma? What year is it? lol
Someone please explain to this writer what a satoshi is, this is painful to read.
I used to run an SFTP server, but it was too DIY-ish for most of the people I was working with to figure out. (Pretty easy to set up though!)
So now Dropbox works well enough, or an app like 'SendAnywhere' for standalone, quick, uncompressed file transfers. Less sovereign, but for most purposes, it works well enough.
The trade-off in that case is generally feature-richness vs security.
So while your true cold storage wallet shouldn't be instantiated in hardware that has a ton of additional functionality, it really would be nice for modern smartphones to have properly secured and isolated wallet functionality, just for the ability to safely spend day-to-day (though really, good lightning integration would be much better in that regard).
54 sats \ 0 replies \ @chytrik 15 May 2023 \ parent \ on: The State of Nostr - A Weekend Discussion nostr
Ooh this is a nice client. ty
Wow, thanks for doing this review. This wallet integration is worse than useless, it is harmful to the interesting properties of bitcoin itself. Terrible.
Regardless of whether or not USD is a shitcoin, your example falls short: Choosing one shitcoin over another doesn't mean the chosen one isn't a shitcoin. It just means that its the less shitty of the two.
I've never understood why people buy these sorts of products. Any company selling them basically has a (customer) list of people that most likely have bitcoin backups stored at home. This creates a robbery, etc risk. Considering how easy and cheap it is to just buy the supplies needed to make your own metal-stamped backup... why open yourself to the risk of buying from one of these companies?
Remember when Ledger lost all their customer data and everyone was upset? Well, Ledger is arguably a WAY more trustworthy and established business than 99% of those that sell these metal backup products.
If you really must use one of these products, at least have the sense to ship it to a PO Box that doesn't include your name, or similar.
Satoshi wouldn't have had a seed phrase. Early wallets didn't have HD wallets, just unrelated individual keys.
A quick search online lead me to this: https://domo-2.gitbook.io/brc-20-experiment/
Things could truly get messy in that regard. Imagine accidentally sending an ordinal to a wallet that is not ordinal-aware, as part of a payment. Even if you could convince the owner of that wallet to send it back, there is a reasonable chance that the recipient's wallet won't have the coin-control functions needed to ensure the right UTXO is returned. Yikes, lol.
One issue with Samurai is that whirlpool has a low participant count in each mix, and the wallet's default mode of operation dox's a user's addresses to the samurai servers.
So even if you are running dojo (ie, to not dox yourself to their server), the chance of the other mix participants also running dojo isn't that great, and thus your addresses can be doxx'd (by the samurai server) by a simple process of elimination. Running through repeated mixes doesn't do much to fix this.
For a 'privacy wallet', this is pretty egregious imo. There are known ways to fix this issue, that Samurai hasn't implemented for.. some reason?