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Dan Gould
2658362c3137eaa801fae404be36ffc80e16a61c43a891a3a046bec4b72e498a
obsessed with the bitcoin privacy problem, payjoin, snowmobile trails, and armchair 漢學

It was too easy to get a nostr:npub1mutnyacc9uc4t5mmxvpprwsauj5p2qxq95v4a9j0jxl8wnkfvuyque23vg dev environment running. I thought bitcoin/rust/wasm was harder. Mind blowing

It’s some MASQUE connect-ip based protocol. Message is encrypted to the blind relay, send to obscura (who can see only destination blind relay ip, not content) who forwards to relay where it is decapsulated and forwarded so the blind relay can’t see origin ip. All encapsulated in HTTP. https://datatracker.ietf.org/doc/draft-ietf-masque-connect-ip/

that’s how u know Confucius actually said it

The default floor of bitcoin privacy needs to be brought up from underwater for the ceiling to have any significant value

The greatest automotive film of all time in one take: C'était un rendez-vous

https://vimeo.com/305211187

There are two opportunities unique to payjoin to reduce fees beyond opportunistic consolidation (consolodating the incoming sats w/ existing sats can share the overhead of 1 tx)

1. transaction cut-through or forwarding: if you spend the incoming sats to someone else straight away in the same tx, you are never encumbered by fees to spend a utxo since you never take one

2. Overhead. Though indeed receivers do pay to add inputs to a payjoin, the marginal cost should be less than if they were to create their own tx to spend them since the sender is paying for the overhead of the tx header, making batching even more cost effective.

I have written the mechanics of how this could be coordinated here on substack. A few enterprise wallets have expressed interest especially since it hits their bottom line.

https://payjoin.substack.com/p/interactive-payment-batching-is-better

trad platforms do boost new accounts to get them hooked. Facebook famously targeted 7 friends in 10 days for new users as a KPI. Nostr clients could do similar.

A story of momentum building and aiming the future of Bitcoin. Great listen. nostr:note16ukrcvc6rewyy6vlht3aln07m8ljf2qrlxjtru6jhs7txfrggyds95w22w