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Replying to Avatar TC

The latter

Thank you. If I may, one more question. So, would this mean a 1 in 135.92T (2x67.96) chance of earning a block reward per hash? I've wondered this before when trying to compare running some small solo miner to playing some lottery.

Does a difficulty of 67.96T mean that each hash has a 1 in 67.96T chances of being a solution, or that it takes on average, 67.96T hashes to find a solution?

I'm hoping to see #SideSwap (sideswap.io) build it into their app. Maybe with #boltz apis.

Thank you for the question. It helps me to understand the potential issue. Let's start at a $100 fee level. Say bitcoin gets to $100,000. Moving 0.2 bitcoin would incur a 0.5% fee. What do you think of these numbers? I am okay with federated solutions for smaller amounts.

I wonder what might be a good number of participants in a #fedimint (fedimint.org)? Is it correct that the plan is for lightning to provide the rails to move seamlessly between fedimints?

I think I agree. But maybe still have the individual apps enforce the Tor requirement when set, i.e., connection lost if orbot has a problem. Best way to prevent accidentally connecting over clear net?

I'm unable to get the script to work. I tap the "On" button on the webpage. Phone asks if I want to open in Damus. I tap "Open". I'm taken to Damus. Nothing appears to happen. Cannot see any way to directly zap a note. Restart Damus. Still no luck.

If activated, Drivechains can solve Bitcoin’s security budget concerns by allowing miners to collect lots of transaction fees from other sidechains they can secure.

This can also be a scalability benefit, as newcomers can get onboarded directly on sidechains and from there they can open Lightning channels or benefit from extra features that the bade layer doesn’t have (privacy, smart contracts).

But the biggest tradeoff is that miners become more powerful through Drivechains – which is a consequence that some Bitcoin users don’t want. The miners will become responsible for choosing which sidechain they activate and secure, then they must also make sure that they enable peg-outs so users receive their bitcoins back on the base layer.

My biggest criticism is that this message doesn’t get conveyed clearly on social media by Paul Sztorc and nostr:npub1nevsewvjqhrsmpfcpdqw6v3e9f6z8w9sq0yt8kpndk2cumw8g6hs5mjmve – instead of focusing on explaining what BIP300 & 301 are, they opted to trigger the most conservative of bitcoiners who don’t even bother to read long-form content or listen to long-form podcast interviews due to their susceptibility to get influenced by tweets.

Now, instead of talking about the fungibility benefits of a Zcash sidechain which uses BTC as the only currency, the conversation is stuck in the “bringing shitcoins to Bitcoin” phase.

Learn more by listening to S14 E13 of the Bitcoin Takeover podcast!

#drivechains #bitcoin #sidechain #btc #btcsidechain #bitcoinsidechain #bitcoinprivacy #bitcoinscalability #bitcoinpodcast #bitcointakeover #bitcointakeoverpodcast #btctkvr https://video.nostr.build/83570780e98de62ca40ff0bbdf15815a31054ee31f6c4f0547fa1af6f2462010.mov

I hope for a future of commoditized upgradable asic hardware that makes it possible for many more to be mining participants of the bitcoin network with minimal expense. Especially when the heat generated can be put to use. Beautifully decentralized abundant hash power! Please do not pollute the aligned and straightforward incentives. One should not be disadvantaged as a bitcoin miner for not paying attention to external "drivechains"

I appreciate your perspective. I haven't upgraded to Phoenix v2 yet, but it's my understanding there's a 0.4% fixed outbound lightning fee. I have v1's prefs set for 0.1% max. I agree it's a free market, and look forward to that playing out 👍