91–100 of 237 posts
Can anyone explain why my genuine question below -- "When will BTC move to an energy efficient protocol?" -- was flagged? Seems a bit gratuitous?
Earlier quoted context omitted.
> However, if nothing happens on the Bitcoin network, then the funds aren't locked down, are they? they are locked down. the funds in a lightning channel are locked in a 2 of 2 multisig address, and can only be moved upon mutual consent (ie. by updating the state of the channel), or by one party after sufficient time has passed (in case of an uncooperative peer).
What do these LN dynamics (which seem to have existed for a little while already now) have to do with Taproot? OP was describing something in the context of Taproot and now you and others are talking about Lightning. What is the new development here?
A crazy thing with Taproot is: A company could create a virtual bank to handle all transfers with its suppliers by doing a single onchain transaction. From the outside, it would look like a normal "Someone sent some coins from address A to address B" transaction. But internally, a key needed to spend the funds is only valid if the company and all of its suppliers sign it. This means every time there is a transaction…
Earlier quoted context omitted.
> However, if nothing happens on the Bitcoin network, then the funds aren't locked down, are they? they are locked down. the funds in a lightning channel are locked in a 2 of 2 multisig address, and can only be moved upon mutual consent (ie. by updating the state of the channel), or by one party after sufficient time has passed (in case of an uncooperative peer).
What do these LN dynamics (which seem to have existed for a little while already now) have to do with Taproot? OP was describing something in the context of Taproot and now you and others are talking about Lightning. What is the new development here?
https://blog.chainalysis.com/reports/bitcoin-taproot-upgrade
Ignore at your own potential peril.. BTCers don't care, apparently https://coingeek.com/could-taproot-privacy-features-make-btc...
Yes, the US and the EU could deem these cryptocurrencies to be illegal. However, as we saw in China, all that accomplishes is squeezing it out of your borders, or squeezing it to the black market. Making it illegal would also be an insanely strong signal to the entire world that this thing actually is uncontrollable by our current governments, and that they're scared of it.
Knowing they can never actively kill it, just drive it elsewhere, these societies have to take a gamble. Either assume it's eventually going to wither and die after they ban it, thereby protecting their citizens from wasting time and money on the system, or assume it's going continue to grow into being the foundation of a new global monetary system that's going to automate and consume everything that's existed before, and severely miss out on being at the vanguard of that industry.
One of the most interesting things in this experiment was the speedy trial imo. We now have an agreed way to change/improve consensus rules. It's very difficult to get a handful of people to agree on something, let alone all the different participants in this global/borderless system.
If you want any chance at mining, you'll need an ASIC miner.
And the few companies that sell them, are sold out.
Or there's some shady dealers that only will accept Bitcoin for payment, so you basically have no insurance if they don't deliver the miner.
Earlier quoted context omitted.
Well, Bitcoin still doesn't have graftroot so it's 8 months and counting :) And Lord help me I'm talking about crypto on hacker news but Chia seems just better engineered overall: - uses between 300x and 10000x less energy for the same security as Bitcoin - has the most number of farmers/validators of any blockchain - supports around ~25 transactions per second (as opposed to bitcoin's 5) - very efficient and auditab…
The biggest problem with chia is still that Bram owns almost all of the tokens. I see no reason to donate to his personal charity.
Disclaimer; I run a Chia blockchain explorer
Ignore at your own potential peril.. BTCers don't care, apparently https://coingeek.com/could-taproot-privacy-features-make-btc...
There's game theory at play here that transcends the legal system. Yes, the US and the EU could deem these cryptocurrencies to be illegal. However, as we saw in China, all that accomplishes is squeezing it out of your borders, or squeezing it to the black market. Making it illegal would also be an insanely strong signal to the entire world that this thing actually is uncontrollable by our current governments, and tha…