Understand that Trump is NOT a bitcoin president.
He is a crypto president, which is no different than being a stock market president, which he already was.
He has no interest in any bitcoin only effort WHATSOEVER.
Personally I don't care as long as he leaves bitcoin alone but seriously, stop calling him a bitcoin president.
Bitcoin is the wild west, yes people can build cities, but bitcoin is vast and will always have a wild west spirit to it because it is PERMISSION-LESS FUCK YOU MONEY.
Indeed, this is a side effect.
There's been dark markets ever since silk road, they've continued to grow in size, each time one gets taken down another takes its place.
NGU is the side effect of bitcoin being real money and it's only real money because of the supply cap and its censorship resistance property.
Remember that The Silk Road is NOT the "troubled past" or "wild west".
Silk Road is the point.
Censorship resistance is the point.
Don't get it twisted.
NGU is merely a side effect.
The silk road is how I first found out about bitcoin.
Then I read Ross's posts and discovered why bitcoin and its censorship resistance was so important for the world.
I owe everything to him.
Now that he's free I hope to one day shake his hand.
Ross is FREE!!
It's January 3rd!
That means it's time to take your #bitcoin off exchanges.
We do this to remind exchanges that we will not tolerate rehypothecation and to remind newcomers of one very important message:
Not your keys 🔑 Not your coins.
#ProofOfKeys
It's January 3rd!
That means it's time to take your #bitcoin off exchanges.
We do this to remind exchanges that we will not tolerate rehypothecation and to remind newcomers of one very important message:
Not your keys 🔑 Not your coins.
#ProofOfKeys
> 7 billion people self custodying
This will likely not be the case as 100% of people will never be self custodying since most prefer custodians, however I'd like to see at least 1/8th of the world be able to (1 billion)
> Vaults are definitely not a necessary change though.
Vaults are so many times better and safer than raw multi-sig and will allow devs to build more robust setups due to features Vaults give you that multi-sig does not such as clawback mechanisms, delayed spending/tiered access, smaller on-chain footprint and recovery paths like fallback addresses. Satoshi doesn't use his coins, others do.
> shove a fix into the codebase
That's not what's happening, a carefully developed, long planned upgrade that has gone through more than a half a decade of testing, feedback and discussion is being strategically and thoughtfully implemented into the codebase.
> I’m willing to bet 99.9% will say they just don’t want it to break.
Gee you think? I'll let you in on a little secret, neither do the devs.
No.
Cleaning up the codebase is what the GCC is about and will for sure be done no matter what over time (decades).
However bitcoin does need to become more efficient and provide safer more reliant options for self custody (vaults) in addition to needing lightning to scale and have easier onboarding (ln-symmetry).
New op codes can do all of these things and more, they're not "shiny toys", they're purposeful tools designed to make bitcoin a better money.
#TeamFreedomMoney 😄
You have to understand where LNhance is compared to something like segwit and taproot. These were HUGE changes literally changing how bitcoin transactions worked on the network.
By comparison CTV alone or LNhance is extremely minimal while providing extremely useful features that make bitcoin a better money.
Vaults for example are way more safe and useful then raw MultiSig and can provide devs with the tools they need to build apps with more robust self custody capability than anything Coinbase could ever offer.
While I can't provide a 100% guarantee there won't be issues, the minimal risk is worth it to move bitcoin forward as the world's most powerful freedom money.
Right now the best alternative would be ARK which would be greatly improved with CTV or LNhance.
That's not how protocol development works on bitcoin, in order to affect layer 2 and above you need to make changes on L1, because L2 runs on top of L1.
LNhance for example greatly improves the onboarding of LN via ln-symmetry so new users don't have to worry about prefunding channels.
In addition to this LNhance could help scale L2 with non-interactive channels and channel factories.
You can read more at utxos.org/uses and lnhance.org.
How would you like bitcoin to improve?
Cat/CatVM to improve bitcoin as an application platform
or
CTV/LNhance to improve bitcoin as a money
Personally I prefer the latter.
The progress and discussion of bitcoin covenants in 2024 has made huge strides and I look forward to the next step which will be activation clients being released sometime in 2025.
You stack coinbase IOUs and MSTR shares and I stack sats.
We are not the same.
GM time to drink tea and outperform wall street for the year. Might even get some work done.