You would have use the private key to an existing UTXO as part of the entropy for encrypting the running script and also as part of the random number generator.
I’m no expert so please bear with me.
Homomorphic encryption [1] allows you to run a computation in a tamper proof way so that if you run it you can prove you did it faithfully.
With that idea in principle you can write a script that uses the attributes from the last, say, 50 blocks as the seed to a random number generator and use that to generate your private key and derive a public key from there.
If this process is blinded from the machine running it (because all the computation is done encrypted and the machine doesn’t have a way to decrypt) then you can have the script do whatever it wants and sign a transaction addressed to the newly created address.
Then at the end of the script the keys are revealed so the machine can claim the UTXO (broadcasting it themselves).
Now at this point you can chain them. Write a script that seeds an address and then write another script that moves those funds according to whatever rules you want. No need to update consensus.
No need for new OpCodes to enable covenants.
Write a script that encrypts a method for generating a private/public key pair using the entropy from the last N blocks and can’t be tampered with.
As long as the runtime script is blinded from the machine running it and you can prove that nobody can witness the private key then you can also have the script perform arbitrary computation and verifiably be rewarded with a UTXO.
Ask your friendly neighborhood cryptographer for a prescription for homomorphic encryption today.
#bitcoin #covenants
The country that can spread bitcoin as wide as possible has the biggest advantage since they’ll be spreading network defense as wide as possible.
When a country centralizes it in the hands of a government and limits access they run the risk of deferring network decisions to far more people that aren’t necessarily aligned with you.
The more you can diffuse it across all the economic actors in your borders (ie. individuals, clubs, companies, local governments, national governments, militaries, etc) the better preserved your society is and in fact it aligns everyone and encourages economic rationalism.
TL;DR - you don’t have enough #bitcoin, anon!
Yes please update when you do!
Feel free to send this link next time if you want a quick list of resources. And feel free to suggest edits or additions. I’m trying to make it easier for people to get started.
Underrated artist: The Spy From Cairo
Keynesian economists: “if things become more adorable over time then people quit buying things. You’ll hate it!”
Uhh ok.
Shucks. I’ll gladly donate if you get back on it if that helps!
nostr:npub1az9xj85cmxv8e9j9y80lvqp97crsqdu2fpu3srwthd99qfu9qsgstam8y8 any plans to make a Coldcard Q-like device but for running a full node?
Use case: I want to run my full node on trust minimized hardware.
I imagine it would be useful for applications built on top of the chain too that need tighter security.
Cryptography doesn’t prove the sender expended energy.
You can require the message be encrypted but the sender could’ve sent 100M emails. If your service requires PoW then it prevents a denial of service. You can also require requests to be collateralized with bitcoin so that the attacker needs to think twice. If they send to a honeypot they lost their corn and got nothing in return.
Forcing the messages to touch the chain severely restricts the volume of requests and also leaves a public audit trail. Again I’m just speculating here and honestly don’t have a clue what he’s trying to do but there might be something there.
I read a lot of it and the basic premise is that in the natural world “might is right” and you can’t fake it. In cyberspace everything was based on rules enforced by logic until bitcoin came along and imposed a physical cost for interactions. It’s more than just PoW though obviously because with bitcoin you have a whole system engineered around it (difficulty adjustment, finite supply, etc) that imposes further costs. Spend your bitcoin chasing a honeypot? It’s gone. GG.
Honestly his talk in the MIT lecture hall and his interview with McCormick covers most of it. He speaks in vague ideas probably because it’s not smart to divulge true military advantages if he has them and/or trying to get them.
You’re probably right with your criticisms and I haven’t read your review (yet!) but if the guy has legitimately novel and useful ideas for the military I’m sure he can’t give it all away for adversaries to copy.
That could explain some of his behavior, no? Not the Sybil accounts of course.
Just speculating here, but it might be possible to leverage the hash rate and messages passed via Bitcoin’s blockchain for security.
Think something like OpenTimestamps. One idea could be that you set up a firewall that requires an extremely high proof of work before accepting packets. The firewall might be some specialized hardware for this.
If your message was passed inside a block you could use the PoW from that? The idea is to set the bar prohibitively high and the bar doesn’t get higher than the PoW applied to bitcoin.
Again just speculating. I imagine if the guy had a novel idea he wouldn’t divulge the advantage publicly…
The State is gonna make me defend Roger Ver
Fuck this 🤡🌏🌍🌎 https://video.nostr.build/50eb24edff56df2b52ca6db8a537cbfcbab8a0019a2d28d90ed8d13d91b93810.mp4
How do you establish a 1M coin strategic reserve? Squeezing it from the whales.
He may have chosen the wrong fork but we should all take notice and support him against these charges.
How does modern day censorship work when you have the internet? Not by preventing information from leaking, but rather by drowning it in near truths, misleading statements, and outright lies to create confusion. A smoke screen.
How do you “censor” Bitcoin? Not by trying to attack it directly and stop its flow. That’s near impossible. You do it by flooding the market with shitcoins and FUD while you stuff your bags and hope you can keep that going long enough to stack more than your competitors.
#bitcoin #censorship
During this cycle if you find yourself having enough money to retire or live lavishly then consider giving back.
You don’t have to work on Bitcoin to make a difference. Go out and help build homes. Buy school supplies for kids and teachers in low income areas. Offer a scholarship or grant to someone who wants to be a doctor or engineer. Teach.
Future headline: “Saylor found to have committed fraud and embezzlement. Many coins are lost. The remainder will be held in government custody.”
Not that he’s actually doing that. The issue is he’s putting together a nice “strategic reserve” for someone to seize. A honeypot.
