Satoffee: Bitcoin Lightning Network coffee machine
Bitcoin en Español / Bitcoin in Spanish
Not Displaying backup seed phrase after wallet creation
Shifting Responsibility to the Individual
The rationale behind not displaying backup words (also known as seed phrases or recovery phrases) is to shift the responsibility to the sovereign individual. This approach aims to avoid creating a single point of failure that could compromise the security of the user's assets.
Empowering the Individual
By not providing the backup words directly within the app, the responsibility for safeguarding this critical information falls on the individual user. This approach empowers the user to take ownership of their digital assets and the associated security measures.
Challenges of Personal Responsibility
However, as you rightly point out, we live in a society where personal responsibility can be perceived as too much hard work. Many users may find the burden of properly storing and protecting their backup words to be a significant challenge.
Balancing Security and Usability
The decision to shift the responsibility to the individual is a trade-off between security and usability. While it enhances the overall security of the system by eliminating a potential point of failure, it also places a greater burden on the user to manage their own security practices.
Educating Users
To address this challenge, it is crucial for the app or service providers to offer comprehensive educational resources and guidance to help users understand the importance of properly securing their backup words and the consequences of failing to do so. This can include step-by-step instructions, best practices, and even tools to facilitate secure storage and management of the backup words.
By striking a balance between security and usability, and providing adequate user education, the app or service can empower individuals to take responsibility for their digital assets while minimizing the risk of security breaches.
Bitcoin Basics Workshop Episode 2 https://www.meetup.com/bitcoincuracao/events/300804085/?utm_medium=referral&utm_campaign=share-btn_savedevents_share_modal&utm_source=twitter #Meetup via @Meetup
@Blockstream LOCAL Liquid Workshop https://www.meetup.com/bitcoincuracao/events/300772502/?utm_medium=referral&utm_campaign=share-btn_savedevents_share_modal&utm_source=twitter #Meetup via @Meetup
Thursday, June 6, 2024
7:00 AM to 9:00 AM AST
Renaissance Mall & Rif Fort
Gouverneur van Slobbeweg · Willemstad
You can find us on BTC Map
https://btcmap.org/merchant/node:11872569854
@Blockstream
L-BTC address
VJLCznDhXhnXqWW84Wm45tAGtVUN588J9X1bhyhMzTri4c8dnsUUPbsL4BBUw7oMfaprFUczCscbqoKt
Bitcoin's Volatility During the 2016-2018 Bull Run
It's important to note that Bitcoin's journey during the 2016-2018 bull run was not without its challenges. Over that period, the cryptocurrency experienced six significant draw-downs of approximately 30% each.
This volatility is a characteristic of the digital asset market, where sharp price fluctuations are not uncommon.
Despite these temporary setbacks, Bitcoin ultimately demonstrated its resilience, going on to reach new all-time highs and solidifying its position as a major player in the global financial landscape. 
What is the 10101 coordinator?
https://10101.finance/blog/what-is-the-10101-coordinator/
10101 aims to bring self-custodial p2p perpetual futures trading to users without sacrificing UX. Centralized exchanges are easy as they only have to keep a book updating all events on their own system.
But 10101 is distributed. Every user is running their own trading node through the 10101 app or dlc connect web app.
What is the 10101 coordinator?
https://10101.finance/blog/what-is-the-10101-coordinator/
10101 aims to bring self-custodial p2p perpetual futures trading to users without sacrificing UX. Centralized exchanges are easy as they only have to keep a book updating all events on their own system.
But 10101 is distributed. Every user is running their own trading node through the 10101 app or dlc connect web app.
“The internet assumed NOTHING, and it won because it had the basic, robust, open building blocks upon which all the innovation actually occurred. The same thing has happened with Bitcoin over the last 15 years and is now starting to happen with Nostr.
And it’s right on time, because the gateways to the internet have centralized to such a degree that the very topography of the web is changing. Access to this open bazaar is being threatened because the applications who were once gateways, have started to become gatekeepers.
To fix this, and to fundamentally fix the internet, we need to upgrade the Internet stack and establish a new suite of superior products, services, and applications that compete on value, not on gatekeeper economics.” --Aleks Svetski
My observation on the below article.
Bitcoin as a model stack added to the 20th century OSI model.
The Evolution of the Internet
The internet has undergone a significant transformation over the past few decades. What started as an open, decentralized bazaar based on the internet protocol has now become a more centralized, platform-siloed experience.
The Path Forward
By examining the history of the internet, we can begin to discern a path forward to escape the trap we have found ourselves in.
Bitcoin as a Model stack added to the OSI model
In this context, Bitcoin can be stacked on top of the 20th century OSI (Open Systems Interconnection) model for the “internet of value” stack. A decentralized, open framework for enabling the secure exchange of digital assets and value.
Just as the original OSI model provided a standardized architecture for interconnecting different computer systems, Bitcoin offers a decentralized protocol for the peer-to-peer transfer of digital value without relying on centralized intermediaries. This aligns with the original vision of an open, decentralized internet.
By studying the principles and architecture of Bitcoin, we may be able to glean insights that can help guide the evolution of the internet towards a more decentralized, user-empowering model in the 21st century.
Original article
Reviewing Reviews
“As we discussed in Entering the Bitcoin Renaissance, our last edition, Lightning Labs CEO and Co-Founder Elizabeth Stark told The Block, “a major narrative of the next cycle will be the bitcoin renaissance, and it has already begun in full swing.” Only a few months later, and that is proving to be quite prescient!” --Ryan Gentry
The Bitcoin Renaissance: Exploring the Advancements in the Lightning Ecosystem
Highlights from the Lightning Labs Article
The article “The Bitcoin Renaissance: How Lightning Will Connect Everything” from Lightning Labs provides an insightful look into the major advancements happening in the layer 2 ecosystems built on top of Bitcoin. Here are the key points covered:
1. Surge in Development Excitement: The article highlights the growing excitement and development activity around the Lightning Network and other layer 2 solutions on Bitcoin. This includes the unveiling of numerous innovative projects in recent months.
2. Increasing Connection between Lightning and AI: The article delves into the emerging synergies between the Lightning Network and advancements in artificial intelligence (AI). It explores how these two technologies can complement each other and drive new use cases.
3. Projects to Watch: The article identifies several prominent projects within the Lightning ecosystem that are worth keeping an eye on as the Bitcoin ecosystem continues to evolve. These projects are solving real-world problems and creating new value.
Personalized Insights
As a dedicated cybersecurity professional with extensive experience in the networking, cyber-security, and fintech domains, I found this article to be a valuable resource for understanding the current state of the Lightning ecosystem and the exciting developments unfolding.
The surge in development activity and the increasing integration of Lightning with AI are particularly intriguing to me. I can see the potential for these advancements to enhance security, enable new financial applications, and drive innovation in the decentralized finance (DeFi) space.
Given my background in blockchain and crypto assets, I'm especially interested in the projects mentioned that are pushing the boundaries of what's possible with the Lightning Network. I'll be sure to follow the progress of these initiatives as the Bitcoin ecosystem continues to evolve.
Overall, this article provides a comprehensive and engaging overview of the “Bitcoin Renaissance” happening in the layer 2 space. It's a must-read for anyone interested in the future of Bitcoin and the innovative solutions emerging within its ecosystem.
Article Link:
The Bitcoin Renaissance Is in Full Swing: How Lightning Will Connect Everything Off-Chain.
https://lightninglabs.substack.com/p/the-bitcoin-renaissance-is-in-full
Why do Bitcoin miners sometimes produce empty blocks despite there being unconfirmed transactions in the mempool?
Empty Blocks, Full Mempool
An analysis of Bitcoin blocks mined without any transactions even when there were transactions waiting to be confirmed.
Great video
NWC: non-custodial payments for any app - Moritz Kaminski
DoJ sets its sights on Bitcoin privacy
https://freedom.tech/doj-tightens-strangehold-on-bitcoin-privacy/
"As a privacy advocate
While it may seem too simple, the first and most important way that we can all take up the fight for privacy is to keep talking about this case and its implications.
The moment we are silent and let the DoJ prosecute Samourai Wallet in the dark, we have lost."
Bringin - This is a lightning app that’s taking a different approach by integrating with IBAN, the international bank network in Europe. The main idea is that merchants can get paid in lightning and have the amount deposited in fiat right away. It makes lightning payments, once completed, more reliable than something like credit cards and cheaper to boot. They use Breez SDK to make this work and the idea is that they’ll expand the offerings as they scale up.
Bringin Bitcoin to Retail Banking with the Breez SDK
Humans have a natural tendency to seek efficiency and conserve energy where possible. This is often reflected in the way financial regulatory authorities approach their responsibilities. When given the option to perform their duties from the comfort of a desk, they may be inclined to do so, rather than exerting the additional effort required to physically investigate matters on-site.
Fiat currency, with its ability to be expanded through fractional reserve banking, has enabled this comfortable, desk-bound approach to regulation. However, this system has been criticized as a "cheat" created by bureaucrats to circumvent the constraints of sound money, such as gold.
The emergence of digital gold, represented by Bitcoin, is poised to disrupt this dynamic. As a sound digital money standard, Bitcoin has the potential to end the comfort and convenience afforded by fiat currency.
This transition may lead to a gradual return to a more rigorous, hands-on approach to financial regulation, as the inherent limitations of fiat currency are exposed.
Microsoft is a national security threat, says ex-White House cyber policy director
With little competition at the goverment level, Windows giant has no incentive to make its systems safer
https://www.theregister.com/2024/04/21/microsoft_national_security_risk/
Still using Facebook for personal information?
Dutch privacy watchdog recommends government organisations stop using Facebook
Still using Cisco products?
Cisco Duo warns third-party data breach exposed SMS MFA logs
Discord is not private and not secure.
Keep this in mind!
A Spy Site Is Scraping Discord and Selling Users’ Messages
https://www.404media.co/a-spy-site-is-scraping-discord-and-selling-users-messages/