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remyers
276dbf1210c9344548dcf8fc826958e97cfa871f9824e11b60cac04076ab2fb8
unlicensed protocol developer #bitcoin #mesh #eltoo #anyprevout #taproot #bolt12
Replying to Avatar waxwing

An ignored part of the current quantum computer fud^H^H debate, because it's a counterfactual: back in 2015-17 a lot of people got very excited about a proposal from Greg Maxwell to do "confidential transactions" on bitcoin. I was very much in the group of people both fascinated and excited about the prospect and went very deep down the rabbit hole on it, learning a lot about cryptography along the way.

But the energy to even suggest a fork to include it slowly dissipated; my own personal reason for rejecting it was *not* the obvious "the range proofs are too large" (see: Bulletproofs, work that was heavily inspired by that scaling problem, though it ended up being far more significant w.r.t. "folding"). It was "pedersen commitments are only computationally binding" [1], to put it another way an EC break means we get unbounded, invisible inflation. At the time it was fun to predict that Zcash had this failure mode and indeed it was borne out (look up their history if you don't know). It felt weird justifying this to people sometimes: "I don't want a bitcoin where amounts are not visible because the total might not add up" sounds Luddite ... I remember being asked on a panel by Giulia Fanti "are you scared that P=NP or something?" ... it was not felt to be a quite logical thing to worry about this, since we rely on EC in Bitcoin anyway ... and if we trust EC, the math of homomorphic commitments *guarantees* it adds up!

But a computational bound on that is not OK. i.e. i don't want *any* computer to be able to break it! not just normal computers! - and that's exactly where a quantum computer comes in. I am FAR more worried about breaking bitcoin's fixed supply than about a million old P2PK coins getting stolen. Stealing is not minting.

[1] A counterpoint is that ElGamal commitments exist, at the cost of even more space. But hey, it's still less space, by a huge margin, than current post quantum signature schemes! Something worth considering?

#cryptography #bitcoin

Does that mean an EC break would allow an attacking member to drain the Bitcoin from the Liquid federation using confidential transactions?

Who can name the #TCG this card came from? 😉

I don't have the final draft prompt but I used chatgpt to get something like this: A short, cinematic autumn scene. A middle-aged man with a friendly, slightly dry sense of humor sits on a cozy porch with falling leaves around him, holding a steaming mug of coffee. The mood is warm and nostalgic — soft amber lighting, gentle breeze, rustling trees, distant birds. He smiles and says with calm comic timing:

“Someone asked if I was ready for the fall… and it took me a moment to realize they meant autumn, not the total collapse of the fiat monetary system.”

He chuckles softly, takes a sip of coffee, and shakes his head with amused disbelief. Background: faint acoustic guitar or light jazz. End on a soft focus of leaves drifting down as he laughs quietly.

Style: cinematic, cozy fall aesthetic, natural light, muted tones, intimate close-up and medium shot mix.

Lode Runner was a great game. I must have played it on an Apple IIe.

In the future, quantum computers will enhance Bitcoin's security.

Just hear me out...

- quantum-safe signatures may be 10-100x larger than Schnorr signatures

- larger signatures mean fewer transactions per block

- fewer txs are equivalent to smaller blocks (1/10th to 1/100th of today)

- smaller blocks increase bidding for tx fees

- tx fees will be more important for security as the subsidy decreases

QED.. in the future, the need for quantum safe signatures will reduce the risk of an insufficient mining security budget! 😉

Replying to Avatar Laan Tungir

Defined in metafont? 😉

Translation: I'm more tolerant of online hijinks from crazy Bitcoiners if I've talked with them in person.

Some individuals who cause chaos in our online community may be brilliant, neuro-divergent and worthy of our compassion and patients.

In person they may be more likely to illicit more sympathy than anger.

This is what I think about before I post.

Agree, but have come to prefer the term "grift coins" when among new coiners. 😉

Hey love the show! hate that my first tip is to correct the record, but I believe the Adam Back and Cantor Fitzgerald story you reported missed a critical detail. It seems like Adam was investing for Blockstream in his role as CEO, but your report implied it was $4B of Adam's own Bitcoin. While I'm sure he holds some corn, I wouldn't want to put a $4B target 🎯 on his back! 😉

Eclair v0.12.0 is out ⚡️🚀

This release contains:

- RPCs to create and manage Bolt12 offers

- Support for option_simple_close

- Support for option_provide_storage

- Update to JDK 21

- Update to bitcoind v28.1

- and much more

See https://github.com/ACINQ/eclair/releases/tag/v0.12.0 for more details.

It was also once accepted as fact that you could not stream movies over TCP-IP networks. Technology will find a way.

Indeed, first module I ever played. I was maybe 13yo or so. Good times!

I recently moved and found some fun stuff in the process.

No. But dearly wish I could get my kids interested in joining me for a campaign.