I’ve been doing year end portfolio consolidation. Entering 2024 well diversified #diversify #portfolio whatcha think 👇🏼 
#Braidpool: A #Decentralized Bitcoin Mining Pool with Potential
Braidpool is indeed a new and interesting project in the #Bitcoin mining landscape. Here's a breakdown of its key features:
**Decentralization:** Unlike traditional mining pools with a #central server, Braidpool operates like a peer-to-peer network. Miners directly communicate with each other, #eliminating the risk of a single point of failure and promoting a more #democratic mining experience.
**Reduced Variance:** For smaller miners, Braidpool aims to lessen the #income #fluctuations traditionally faced in competitive pools. This is achieved through a Directed Acyclic Graph (#DAG ) system that distributes rewards based on contributions, even when larger miners join.
**Constant Blockspace Payouts:** Payouts in Braidpool don't rely on a linearly increasing #blockspace as the number of miners grows. This helps maintain network stability and prevent #congestion.
**Hashrate Futures Potential:** The DAG structure in Braidpool lays the #groundwork for a future market of hashrate. This could allow #miners to hedge their earnings or #speculate on Bitcoin's future mining difficulty.
**Current Status:** Braidpool is still in #development, with an initial proposal document and active #Github repository showcasing its progress. While not yet fully operational, it has generated considerable interest within the Bitcoin community due to its innovative approach to #decentralized mining.
**Challenges and Considerations:**
* **Complexity:** Braidpool's decentralized nature introduces technical complexities compared to traditional pools. It may require more technical expertise from miners to participate effectively.
* **Adoption:** Widespread adoption is crucial for Braidpool's success. Convincing enough miners to switch from existing pools could be challenging.
* **Security:** While the DAG structure aims to be secure, potential vulnerabilities need to be carefully assessed and addressed before full launch.
**Overall, Braidpool presents a promising #vision for a more decentralized and sustainable Bitcoin mining future. However, its success will depend on its ability to #overcome technical hurdles and gain significant #community adoption.**
#mining #blocktemplate #ocean #braidpool #plebchain
Imagine a safe with multiple locks, where each lock needs a different key to open. That's kind of like a traditional #Bitcoin #multisig wallet. Multiple people (key holders) need to approve a transaction for it to happen, making it super secure.
#FROST Multisig takes things a step further, making the safe even more flexible and invisible. Here's how:
**1. Changing Locks:**
* Traditional multisigs: If you want to add or remove a key holder, you need to create a whole new safe (wallet) and move everything over. It's a hassle!
* FROST Multisig: You can add or remove keys on the fly, like reprogramming the locks. No need to move your bitcoins, just update the access list.
**2. Invisible Transactions:**
* Traditional multisigs: When you open the safe (spend bitcoins), everyone can see which locks were used (who signed). It's like leaving fingerprints.
* FROST Multisig: The transaction looks like a regular Bitcoin one. No #fingerprints, no clue who authorized it. This makes your bitcoin activity more #private.
**3. Extra Features:**
* FROST can be used for more than just Bitcoin transactions. Imagine signing documents or verifying identities, all with the same multisig setup.
* It's also open-source and hardware-agnostic, meaning anyone can build compatible devices and wallets.
**Think of FROST Multisig as a #super-powered, adaptable safe for your bitcoins.** It's more secure, private, and versatile than traditional multisigs, making it a great choice for individuals and organizations who value both security and flexibility.
Here's an analogy to help you visualize:
* Traditional Multisig: Like a combination lock safe with fixed dials. Changing combinations or adding users requires changing the entire safe.
* FROST Multisig: Like a fingerprint scanner safe. You can easily add or remove fingerprints without changing the safe itself, and opening the safe leaves no visible trace.
#gm #nostr #plebchain #gfy
Both RBF and CPFP are ways to speed up a slow #Bitcoin transaction, but who pays the extra fee is the key difference:
**RBF (Replace by Fee):** This is like **the sender saying "Oops, forgot extra tip!"**. They create a new transaction with the same inputs (coins) as the stuck one, but with a **higher fee**, hoping miners pick it up first. Only the #sender can do this.
**CPFP (Child Pays for Parent):** This is like **the receiver saying "Here's some gas money!"**. They create a new #transaction "spending" from part of the stuck transaction's output, but also offering a much **higher fee**. This #incentivizes #miners to confirm both transactions together, un-sticking the first one. Only the receiver can do this.
Here's a table to summarize:
| Feature | Who pays extra fee? | Sender or Receiver? |
|---|---|---|
| #RBF | Sender | Only sender |
| #CPFP | Receiver | Only receiver |
Think of it like ordering food:
* **RBF:** You realize you forgot to tip and run back to add extra.
* **CPFP:** You ask your friend to order another dish with a bigger tip, hoping it pushes your order through faster.
Remember, using these features isn't always recommended, as they can add #complexity and potential risks. Choose the one that fits your situation and be mindful of #network fees!
#gm #nostr #coffeechain #plebchain #gfy
#gm #nostr #coffeechain #miamibeach #plebchain #art #gfy 
The #mempool is red hot #gm #nostr #coffeechain #plebchain #bitcoin #art #gfy 
Let’s see how long it takes to clear at 20 s/vb #mempool 
First time noticing the accelerator option on @mempool #mempool 
Guess I’m not consolidating UTXOs this weekend 🤦🏻 #mempool 
here's the audio book Subtle Art Not Giving a Fuck
In halls of power, screens aglow,
They watch our pixels ebb and flow.
From tweets to memes, our souls laid bare,
For eyes that judge with vacant stare.
They click and scroll, through lives unseen,
A voyeur's feast, a digital glean.
Our likes and shares, their data mine,
To shape our wants, our hopes, our time.
But oh, the irony, so sweet,
Their secrets lurk, beneath their feet.
For in their servers, dark and deep,
The skeletons of power sleep.
So let them peek, let shadows fall,
We dance in light, beyond their thrall.
For in our hearts, the truth resides,
A digital fire, where freedom hides.
#gm #nostr #coffeechain #plebchain #art #poem #bitcoin #gfy #tgif #kyc #aml 
#unhosted #coldcard #plebchain #art #bitcoin #wallet #signing 
In the realm of dreams, the future gleams,
A tapestry of hope, where darkness dims.
Where minds are sparked, and hearts ignite,
A symphony of visions, taking flight. #gm #nostr #coffeechain #plebchain #art #bitcoin
#gm #nostr #bitcoin #plebchain #art Discusing self custody now is more critical than ever. Learn today don’t wait until tomorrow
Opposition to Banking Secrecy Laws: A Critical Perspective
While banking #secrecy laws are intended to protect privacy and attract financial #investments, they face criticism from various stakeholders. Here are some key #arguments against these laws:
**1. Facilitation of Crime:** Critics argue that secrecy facilitates money #laundering, tax evasion, and other criminal activities. By shielding #financial activities from public scrutiny, these laws create an environment where criminals can operate with impunity. This #undermines the integrity of the financial system and fuels various illegal economies.
**2. Erosion of Public Trust:** Banking secrecy erodes public trust in financial institutions and #governments. When citizens are unaware of the financial dealings of powerful individuals and entities, it raises #suspicions of corruption and undermines #accountability. This lack of transparency can contribute to societal instability and hinder economic development.
**3. Hindrance to Law Enforcement:** Banking secrecy laws can significantly impede law enforcement efforts to investigate and prosecute financial crimes. With limited access to #financial information, authorities often face difficulties in tracking and seizing criminal assets, ultimately hindering their ability to bring criminals to justice.
**4. Disproportionate Impact on Developing Countries:** Developing countries often suffer #disproportionately from the negative consequences of banking secrecy. These countries lack the resources and expertise to effectively enforce regulations against money laundering and tax evasion, making them vulnerable to financial abuses #facilitated by secrecy laws.
**5. Ineffectiveness in Protecting Legitimate Privacy:** While proponents argue that banking secrecy protects legitimate privacy interests, #critics contend that this argument is often overstated. Privacy concerns can be addressed through targeted regulations that balance individual privacy with the need for financial #transparency.
**6. Economic Distortion:** Banking secrecy laws can distort economic activity by attracting illicit funds and #incentivizing tax evasion. This can create unfair competition for legitimate businesses and undermine the overall efficiency of the #economy.
**7. Lack of Transparency in International Financial System:** The international nature of financial transactions makes it difficult to effectively enforce #banking secrecy laws. This lack of global transparency creates loopholes that allow criminals to exploit jurisdictional differences and evade #regulations.
**8. Potential for Abuse by Governments:** In some cases, banking secrecy laws can be abused by governments to suppress #dissent, silence journalists, and shield themselves from accountability. This poses a significant threat to human rights and #democratic values.
**9. Unnecessary Burden on Businesses:** Critics argue that the compliance requirements associated with banking secrecy laws place an #unnecessary burden on businesses, particularly smaller institutions. The cost of implementing and maintaining complex #compliance programs can be significant, diverting resources away from core business activities.
**10. Alternative Solutions Available:** Proponents of reform suggest that alternative solutions, such as beneficial ownership transparency and targeted #information sharing agreements, can achieve the goals of financial stability and #transparency without the harmful consequences of secrecy laws.
While there are valid arguments in favor of banking secrecy, the potential benefits are often outweighed by the negative consequences. As the global financial system becomes increasingly #interconnected and complex, there is a growing consensus that secrecy laws are no longer #sustainable. The need for greater transparency and accountability in the financial sector is paramount to ensure a stable and equitable #global economy.
The future of #p2p transactions with #unhosted “BSA” provider #bitcoin #hodl #art #plebchain
## Summary of the Digital Asset Anti-Money Laundering Act of 2023 (S. 2669)
**Sponsored by:** Senators Elizabeth Warren and Roger Marshall
**Date:** July 27, 2023
**Current Status:** Passed both the Senate and House of Representatives, awaiting Presidential signature.
**Purpose:** To mitigate the risks that digital assets pose to national security by closing loopholes in existing anti-money laundering (AML) and countering the financing of terrorism (CFT) frameworks and bringing the digital asset ecosystem into greater compliance with these regulations.
**Key Provisions:**
* **Regulation of Digital Asset Kiosks:** Requires the Financial Crimes Enforcement Network (FinCEN) to develop regulations for digital asset kiosks, including customer identity verification and collection of transaction counterparty information.
* **Digital Asset Mixers:** Prohibits the use of digital asset mixers and other anonymity-enhancing technologies for transactions exceeding $10,000.
* **MSBs and Digital Asset Entities:** Establishes an AML/CFT compliance examination and review process for Money Services Businesses (MSBs) and other digital asset entities.
* **Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) Oversight:** Directs the SEC and CFTC to establish AML/CFT compliance examination and review processes for the entities they regulate.
* **Foreign Account Reporting:** Requires individuals transacting with digital assets exceeding $10,000 through offshore accounts to file a Report of Foreign Bank and Financial Accounts (FBAR) with the Internal Revenue Service (IRS).
* **Study on Blockchain Analysis:** Mandates a study on the use of blockchain analysis to combat money laundering and other illicit activities related to digital assets.
**Significance:** This Act, if signed into law, would represent a significant step towards addressing concerns about the potential use of digital assets for illicit activities. It would also bring the digital asset industry into closer alignment with the existing AML/CFT frameworks governing the traditional financial system.
**Current Stage:** As of December 11, 2023, the Act has passed both the Senate and House and is awaiting President Biden's signature.
**Additional Resources:**
* **Text of the Act:** [https://www.billsponsor.com/bills/486678/senate-bill-2669-congress-118](https://www.billsponsor.com/bills/486678/senate-bill-2669-congress-118)
* **Senator Warren's Website:** [https://decrypt.co/117221/senator-warren-crypto-bill-kyc-self-custody-wallets](https://decrypt.co/117221/senator-warren-crypto-bill-kyc-self-custody-wallets)
#plebchain
*11,000 bitcoins changed hands