Kids breakfast. Raw milk yogurt sweetened with honey. Into the freezer.

client side validation is where you put a hash into the blockchain as a proof of some statement or a commitment, so rather than being able to just use whats written in the blockchain to understand who owns what, now you need more data to verify ownership

CTV does this: it puts a hash into the chain and you need a separate set of data to prove that that hash actually means *you* can spend (some?) of those coins

I don’t understand what you’re saying, can you explain how you arrived at this description?

regular reminder that lightning *is* a “shared utxo” protocol that uses covenants (and multisig) to scale bitcoin payment tx thruput

most of the commentary against it points out that it does not scale number of holders in relation to # of utxos. in my mind this is a good sign of the protocol’s success (it shipped and people use it and they found drawbacks with the MVP). It’s also a sign of bad messaging around the applicability of 2-party accounts to certain payment situations (venmo for example)

sometimes it is useful to have multiparty channels; i’d argue that liquid is one such example of this.

federated mints are another one; note that both of these multiparty systems require consensus algorithms to function. fedimints were using BFS, (iiuc they just changed to a new one). liquid uses “nakamoto consensus” aka a blockchain to keep track and agree on shared balance states

Lightning was shipped as the minimum viable product to scale tx thru-put and it succeeded at that. it did this with minimalist, 2-party design as consensus from 2-parties is the simplest case. this meant it could avoid tricky consensus questions and focus on privacy + throughput instead

shipping multi-party utxos at scale will require a solutions for managing consensus amongst stakeholders in the “shared utxo”; see Ark and already existing federations for examples of contending with this problem 🫡

change my mind: covenants are just one more form of client side validation primitives

its like what taproot assets is doing for shitcoins, except you dont need a whole new data format because the client-side data *is* bitcoin txs

Communication is a skill that requires tact and diplomacy. It is unwise to announce that a certain service or app will be discontinued with community support or donations, without consulting or soliciting feedback from the users; it could come across as coercive. This poor communication strategy could alienate the original creators from their audience and the vice versa is valid. The best approach is to trust the community, listen to their needs, initiate a dialogue about monetization, and seek their input. If your community trusts you, you can reach a reasonable solution.

I mean yes, you can add the flag but then you need to repeat signing rounds to update transactions since it's 2of2.

RBF is harder to coordinate than CPFP. I think not having package relay is (another) problem?

74.1 sat/vB mempool min fee!

It's possible that someone is setting up for an attack on lightning. The current Lightning protocol is kinda broken with respect to fees, as your commitment transaction (and refund transaction) isn't necessarily high fee enough to get propagated.

It's not quite as much of a problem as you'd expect, as many well connected nodes (rg mempool.space) have much bigger mempools. But anyway, lightning needs to get this fixed.

Not using RBF to begin with was a big mistake.

#m=image%2Fjpeg&dim=1080x455&blurhash=Z46RN2Tc%255I.D%25RjOS-WE0%3Fdtn%25OE1X9s.In%251In%25D%256X2V%7CIURit9oZoOM%5DxcR%23RRRhaxohbWo%24&x=c19d2c798c710dd0cb3babdcf0f0918feb17fa554d4d1c42598f539de6428716

After world computer, ICOs, NFTs,....what the next BS Ethereum sales pitch? Im not hearing any.

Nice!

But does it even need a BIP?

The huge URLs are breaking Plebstr.

Probably the best feature of Golang is that it encourages you to just put all your source code at the top level directory.

kinda weird to think that a lot of the things i know about bitcoin tech is from implementing a working copy of it for myself

If you had $200 total worth of on-chain BTC, and it was your life savings, what would your strategy be to hodl it going forward—knowing that L1 fees will continue rising with adoption?