Primal is pretty solid but not web at least desktop afaik

#gm #nostr #plebchain #miamibeach

#muted #drivechain #wizards

#BIP85 is a Bitcoin standard that introduced a process to #mathematically derive multiple seeds from the value of just one seed. This is called deterministic entropy. #Deterministic entropy sounds complicated, but it basically means that if you have one seed, you can derive any number of other seeds from it, and each of those seeds will be unique and cannot be traced back to the original seed.

This makes BIP 85 very useful for security purposes. For example, you could use one seed as your master seed, and then derive other seeds from it to use with different wallets or devices. This way, if one of the #derivedseeds is compromised, your master seed and all of the other derived seeds will still be secure.

Here's how BIP 85 works in more detail:

1. The first step is to generate a #masterseed. This can be done using any number of methods, such as a hardware wallet, a software wallet, or a random number generator.

2. Once you have your master seed, you can use it to derive other seeds using the BIP 85 algorithm. The algorithm takes the master seed as input, along with a seed type and an index, and outputs a new seed.

3. The seed type determines the format of the new seed. For example, the most common seed type is #BIP-39, which uses a mnemonic phrase of 12, 18, or 24 words.

4. The index determines the order of the new seed relative to the master seed. For example, if you generate two seeds with an index of 0 and 1, the seed with an index of 0 will be the first seed derived from the master seed, and the seed with an index of 1 will be the second seed derived from the master seed.

BIP 85 is a very secure way to manage multiple Bitcoin seeds. It is especially useful for people who want to use different wallets or devices for their Bitcoin, or who want to have a backup of their seeds in case one of them is lost or compromised.

Here are some of the benefits of using BIP 85:

* It allows you to manage multiple seeds with a single backup.

* It makes it more difficult for an attacker to steal your funds, even if they have access to one of your seeds.

* It is compatible with a wide range of wallets and devices.

If you are serious about security, then BIP 85 is a great way to keep your Bitcoin safe.

I was kidding 🤣

I don’t believe you send me some sats 🤣

Just be you, Brother 💪🏼

As of September 4, 2023, there are a total of 26 bitcoin #ETF applications that have been filed with the US Securities and Exchange Commission (SEC). The #SEC has yet to approve any of these applications, but it has delayed its decision on several of them.

The latest news on approval dates is that the SEC has delayed its decision on the following #bitcoinETF applications:

* #Invesco, #WisdomTree, and #Valkyrie bitcoin ETFs: The SEC has pushed back the decision dates for these proposals by several weeks to mid-October, but could potentially delay further.

* #Grayscale Bitcoin Trust: The SEC has until October 18, 2023 to approve or deny Grayscale's application to convert its Bitcoin trust into an ETF.

The SEC has not given any specific reasons for the delays, but it has said that it is considering the risks of fraud and manipulation in the bitcoin market. The SEC is also reportedly concerned about the lack of transparency in the bitcoin market.

It is unclear when the SEC will make a decision on any of the bitcoin ETF applications. The approval of a #bitcoinETF would be a major milestone for the cryptocurrency industry. It would make it easier for investors to gain exposure to bitcoin and could help to legitimize the market. However, the SEC's decision is likely to be met with mixed reactions, with some investors celebrating the approval and others criticizing the SEC for not doing enough to protect investors.

The Coinkite #ColdcardMK4 is a hardware wallet that allows you to store your Bitcoin offline. It is considered to be one of the most secure hardware wallets available.

The MK4 firmware is constantly being updated to improve security and add new features. If you have an older MK4, you can upgrade the firmware to the latest version.

To upgrade the firmware on your Coldcard MK4, you will need:

* A microSD card with the latest firmware file (you can download the file from the Coinkite website)

* A Micro USB cable to connect your Coldcard to your computer

Here are the steps on how to upgrade the firmware:

1. Connect your Coldcard to your computer using the Micro USB cable.

2. Turn on your Coldcard by pressing and holding the power button.

3. Enter your PIN.

4. Select **Advanced** > **Upgrade** > **From MicroSD**.

5. Press **OK** on your Coldcard when you are prompted to pick the firmware image.

6. Select the firmware file.

7. The screen will say "Loading..." . Be patient, this process takes time.

8. Once the firmware is upgraded, your Coldcard will restart.

You can now use your Coldcard MK4 with the latest firmware.

Here are some of the benefits of upgrading the firmware on your Coldcard MK4:

* Improved security: The latest firmware includes security fixes that protect your Bitcoin from attack.

* New features: The latest firmware may include new features.

* Bug fixes: The latest firmware may fix bugs that were present in previous versions.

It is important to keep your Coldcard #firmware up to date to ensure that your Bitcoin is protected. You can check for firmware updates on the #Coinkite website.

In a high fee market environment, the fees charged for Bitcoin #transactions can be very high. This can make it expensive to send #Bitcoin, especially if you are only sending a small amount. One way to reduce the fees you pay is to maintain good Bitcoin UTXO management.

#UTXO stands for Unspent Transaction Output. It is a record of a Bitcoin transaction that has not yet been spent. When you send Bitcoin, you are essentially spending one or more UTXOs. The more UTXOs you have, the more fees you will likely pay for each transaction. This is because each UTXO has a small transaction fee attached to it.

So, how can you maintain good Bitcoin UTXO management? Here are a few tips:

* **Combine UTXOs.** When you receive Bitcoin, it is often split into multiple UTXOs. You can combine these UTXOs into larger ones by sending them to yourself. This will reduce the number of UTXOs you have, and therefore the fees you pay for transactions.

* **Use a wallet that supports batching.** Batching is the process of sending multiple transactions in a single block. This can save you on fees, as the fees are calculated per block, not per transaction.

* **Use a wallet that supports SegWit.** #SegWit is a protocol that reduces the size of Bitcoin transactions. This can also save you on fees.

By following these tips, you can help to reduce the fees you pay for Bitcoin transactions in a high fee market environment.

Here are some additional benefits of good UTXO management:

* It can make your Bitcoin transactions more efficient.

* It can help to protect your privacy.

* It can make it easier to recover your Bitcoin in case of a loss.

If you are serious about using Bitcoin, it is important to learn about UTXO management and how to optimize it. By doing so, you can save money, improve the efficiency of your transactions, and protect your privacy.

#gm #nostr #laborday #miamibeach

Hey nostr:npub1sg6plzptd64u62a878hep2kev88swjh3tw00gjsfl8f237lmu63q0uf63m what are your 2 sats regarding #drivechain #masf ? For or against?

Excellent episode

First world problems 🤣

#gm #plebchain #coffee #nostr #miamibeach #bluemoon

#Iceland is a major center for Bitcoin mining because it has a surplus of #renewable energy, primarily from #hydroelectric and geothermal sources. This makes it a very attractive location for miners, who are looking to reduce their energy costs and environmental impact.

The process of Bitcoin mining requires a lot of energy, as miners need to solve complex mathematical problems in order to add new blocks to the blockchain. This can be a major drain on resources, but in Iceland, miners can tap into the country's abundant renewable energy to power their operations.

#Hydroelectric power is generated from water that is collected from rivers and lakes and then used to turn turbines. #Geothermal power is generated from the heat of the Earth's interior, which is harnessed to create steam that can then be used to generate electricity.

Both hydroelectric and geothermal power are considered to be renewable energy sources, as they do not produce greenhouse gases or other pollutants. This makes them a much more #environmentally friendly option for Bitcoin mining than traditional fossil fuels.

In addition to the availability of renewable energy, Iceland also has a cool climate, which is beneficial for Bitcoin mining. The cold temperatures help to keep the miners' computers from overheating, which can lead to decreased efficiency and increased energy consumption.

As a result of these factors, Iceland has become a major hub for Bitcoin mining. In 2022, it was estimated that around 10% of the world's Bitcoin mining took place in Iceland. This is a significant number, and it is likely to continue to grow in the future as more miners look to take advantage of the country's renewable energy resources.

However, it is important to note that Bitcoin mining is still a very energy-intensive process, even when it is powered by renewable energy. As the Bitcoin network continues to grow, it is likely that the demand for energy will also increase.

Liquid BTC, or #L-BTC, is a special type of asset on the Liquid Network, a #sidechain of the Bitcoin blockchain. It is created when BTC is moved to the #LiquidNetwork and destroyed when BTC is moved out of the network. The process of moving BTC to #Liquid is known as a peg-in, and moving BTC out of Liquid is known as a peg-out.

L-BTC is designed to be more efficient than transacting on the #Bitcoin mainchain by providing faster settlements and strong confidentiality. It is also used to pay transaction fees for the transfer of any assets on the Liquid Network.

L-BTC is backed 1-to-1 by BTC held by the Liquid Federation, a group of nodes that maintain the Liquid Network. This means that for every L-BTC in existence, there is an equivalent amount of BTC held by the Liquid Federation.

Liquid BTC was created by Blockstream, a blockchain technology company. Blockstream is also the creator of the Liquid Network.

Here are some of the benefits of using Liquid BTC:

* Faster #settlements: Transactions on the Liquid Network settle much faster than transactions on the Bitcoin mainchain. This is because the Liquid Network uses a more efficient consensus mechanism.

* Strong #confidentiality: Transactions on the Liquid Network are confidential by default. This means that the sender, recipient, and amount of a transaction are not publicly visible.

* Lower fees: Transaction fees on the Liquid Network are typically lower than transaction fees on the Bitcoin mainchain.

If you are looking for a more efficient and #confidential way to transact with Bitcoin, then Liquid BTC is a good option to consider.

Here are some of the limitations of using Liquid BTC:

* It is a centralized system: The Liquid Network is a #centralized system, which means that it is controlled by a small group of entities. This could make it vulnerable to attack.

* It is not as #secure as the Bitcoin mainchain: The Liquid Network is not as secure as the Bitcoin mainchain. This is because it uses a less secure consensus mechanism.

* It is not as widely adopted as Bitcoin: Liquid BTC is not as widely adopted as Bitcoin. This means that there may be fewer exchanges and wallets that support it.

Overall, Liquid BTC is a promising technology that offers some advantages over transacting on the Bitcoin mainchain. However, it is important to be aware of its limitations before using it.

A #hierarchical #deterministic (HD) wallet is a type of cryptocurrency wallet that generates all of its keys from a single master seed. This means that if you lose your wallet, you can simply restore it from the master seed. HD wallets are also more secure than traditional wallets, as they are less susceptible to hacking.

In #Bitcoin, HD wallets are implemented using the BIP32 standard. BIP32 defines a hierarchical tree-like structure for wallets, with the master seed at the root of the tree. Each node in the tree can be used to generate a child node, and so on. This allows users to create an unlimited number of child wallets from a single master seed.

HD wallets offer a number of advantages over traditional wallets. First, they are more secure. As mentioned above, HD wallets are less susceptible to hacking because they only need to store the master seed. If you lose your wallet, you can simply restore it from the master seed.

Second, HD wallets are more convenient. With a traditional wallet, you need to generate a new keypair for each transaction. This can be time-consuming and error-prone. With an HD wallet, you can simply generate a new child wallet for each transaction.

Third, HD wallets are more flexible. With a traditional wallet, you are limited to the number of keypairs that you can generate. With an HD wallet, you can generate an unlimited number of child wallets. This gives you more flexibility in how you manage your cryptocurrency.

If you are looking for a secure and convenient way to store your cryptocurrency, then an HD wallet is a good option. HD wallets are the most common type of wallet used for Bitcoin and other cryptocurrencies.

Here are some of the most popular HD wallets:

* **Electrum:** A popular desktop wallet that is available for Windows, Mac, and Linux.

[Image of Electrum Bitcoin wallet app logo]

* **Trezor:** A hardware wallet that is considered to be one of the most secure Bitcoin wallets available.

[Image of Trezor Bitcoin hardware wallet logo]

* **Ledger Nano S:** Another popular hardware wallet that is similar to the Trezor.

[Image of Ledger Nano S Bitcoin hardware wallet logo]

* **Coinomi:** A mobile wallet that is available for Android and iOS devices.

[Image of Coinomi Bitcoin mobile wallet app logo]

* **Mycelium:** Another popular mobile wallet that is available for Android and iOS devices.

[Image of Mycelium Bitcoin mobile wallet app logo]

When choosing an HD wallet, it is important to consider your needs and security requirements. If you are storing a large amount of cryptocurrency, then you may want to consider a hardware wallet. If you are looking for a more convenient option, then a mobile wallet may be a better choice.

No matter which HD wallet you choose, it is important to keep your master seed safe. The #masterseed is the only thing you need to restore your wallet if you lose it. You should never share your master seed with anyone.

Segregated Witness (#SegWit) and #Taproot activation reduced the witness data in a transaction by moving the #signature data from the transaction data to a separate witness area. This made the signature data no longer count towards the block size limit, which freed up space for more transactions.

In a traditional Bitcoin #transaction, the signature data is included in the transaction data. This means that the signature data counts towards the block size limit, which is currently 1MB. This can limit the number of transactions that can be included in a block, which can lead to #congestion and delays in the network.

SegWit moves the signature data to a separate witness area. This witness area is not counted towards the block size limit, which means that more transactions can be included in a block. SegWit also introduces a new transaction format that is more efficient than the previous format. This further reduces the size of the transaction, allowing even more transactions to be included in a block.

Taproot activation further reduces the witness data in a transaction by using a new type of signature called a #Schnorr signature. Schnorr signatures are smaller than traditional signatures, which means that they take up less space in the witness area. This further increases the amount of space that is available for transactions in a block.

The combination of SegWit and Taproot has significantly reduced the witness data in a transaction. This has helped to improve the scalability of the Bitcoin network and make it more efficient.

Here is a table summarizing the size of the signature data in a traditional Bitcoin transaction, a SegWit transaction, and a Taproot transaction:

| Transaction type | Signature data size |

|---|---|

| Traditional Bitcoin transaction | 70-80 bytes |

| SegWit transaction | 40 bytes |

| Taproot transaction | 20 bytes |

As you can see, the signature data size is significantly reduced in both SegWit and Taproot transactions. This is a major factor in the improved scalability of the Bitcoin network.