Super Testnet

JUST IN: Taproot Channels officially merged into the Lightning Spec BOLTS repository. Authored by Olaoluwa Osuntokun (@roasbeef), CTO of Lightning Labs, and Eugene Siegel (CryptiQ) of @bitcoinbrink, it moves channels to taproot's MuSig2 signing scheme github.com/lightning/bolt…

@cguida6 @robin_linus @TheBCHPodcast I'm not sure it would be easier to screw with tx history. It would invalidate the proofs, so you'd have to make new proofs that the modified blocks followed bitcoin's rules, and then do enough proof of work to make the modified chain have more total work than the original chain.

I think that could work, but it's no better than pruned nodes, and pruned nodes are a centralization vector because they eventually lead to the block history being held in fewer and fewer places. Eventually it's deleted entirely, as happened on XRP, for example. At that point it becomes much easier to screw with the transaction history

Imagine a world where Bitcoin is accepted everywhere.

@cguida6 @robin_linus @TheBCHPodcast Would a node count as fully validating, in your opinion, if it validated a proof that every old block followed bitcoin's rules, but did not download the blocks themselves? If not, why not? What if you were convinced that validation can be done equally well without them?

@robin_linus @TheBCHPodcast Uh what? The bar to afford a fully validating node is already waaay too high

@afilini @giacomozucco @BitcoinErrorLog @StormJib @TFTC21 @callebtc I like the idea of having an "emergency mode" which can be activated by a third party, in which mode, the devices will only sign transactions whereby holders withdraw their own coins via L1 or L2 transactions

There’s no “one size fits all” but some options could be: - mix and match different enclave providers - have some keys outside of enclaves, some inside - have an admin key with a very long timelock to recover funds in case everything breaks - pre-sign timelocked transactions inside the enclave

"You can't access the bitcoin, so you're not a custodian." That single sentence from @callebtc , the creator of the Cashu ecash protocol, just unlocked the biggest scaling breakthrough Bitcoin has had in years. The reason ecash scaling has been limited to small community mints is because running a larger one makes you a money transmitter. Calle's solution: non-custodial Cashu mints running inside hardware enclaves. The bitcoin keys are generated inside the enclave and never leave it. The mint operator literally cannot access them. Even with full admin access to the server, they cannot steal the bitcoin. Remove the custodial barrier and the design space explodes. Public organizations, businesses, community groups can all run mints without taking on custodial liability. The security model is battle-tested. ACINQ already uses the same approach with AWS Nitro Enclaves to protect their massive Lightning node holding hundreds of millions in BTC. The historical lineage is what gets me. In 2004, Hal Finney built RPOW (Reusable Proofs of Work) using IBM's secure cryptographic coprocessor. The server was "more trustworthy than an ordinary bank" because the hardware itself guaranteed the software hadn't been tampered with. Finney's system wasn't tied to an existing currency. Calle's is. Cashu ecash backed by Bitcoin, running in a modern enclave, is RPOW's spiritual successor. Except this time it's built on the hardest money in human history. The honest caveats: this doesn't reduce risk to zero. The biggest practical risk is denial of service. The operator could turn the mint off. But since they can't steal the bitcoin, there's no financial incentive to do so. We're getting closer to having everything we want: privacy, ease of use, and reduced custodial risk, all on Bitcoin rails. Hal Finney's vision, finally realized.

@afilini @giacomozucco @BitcoinErrorLog @StormJib @TFTC21 @callebtc Is there an "admin mode" that can be activated to take all of the money? If so, how is it secured such that a malicious party can't use it? If not, what do you do if one box breaks, to stop one more from breaking?

@giacomozucco @BitcoinErrorLog @StormJib @TFTC21 @callebtc Box no need be only key-holder. Make many box, need 2-of-3 say yes. Or hide spare key in cold cave for backup. Box die, coin live.

@Stromens Sad. They announced it a year ago.

@SuperTestnet Yeah that's false. That has not yet happened. They just announced it but it's not actually on yet

Interesting table with respect to lightning adoption and Visa/Mastercard. It keeps getting easier to live off of bitcoin via lightning if you're okay with using one or more of these companies as a middleman.

@Stromens Here is my source: theblock.co/amp/post/35347…

@SuperTestnet What do you mean Revolut accepts ln sometimes? I havent seen it at all

@GabeBTCAdvisors @Boltzhq @BlitzWalletApp How fast is that, in your experience? What is the typical time from pressing Send til your newly arrived balance on redotpay is spendable (assuming you go through Boltz or Blitz)?

@SuperTestnet Ah, gotcha. I use @Boltzhq to spend LN and get USDT on RedotPay. Or @BlitzWalletApp to do the same with one tool.

@gringokiwi @usebipa I added a row to the table for Bipa. I might make a website for this. Also, today I learned there is already a similar site called cryptocardhub.com but they don't say which cards support lightning deposits. Hey @cryptocardhub can you add info to your site about LN support?

@SuperTestnet @usebipa Yes

@GabeBTCAdvisors ...making this chart. The AI noticed that Redotpay made a press release in 2024 saying they support a Binance feature called "Lightning Deposit" (see attached) and thought it meant LN. But that feature seems to be unrelated to LN, despite the similar name redotpay.com/news/redotpay-…

@GabeBTCAdvisors I double checked, and it looks like the answer is "kinda, but it's very roundabout." You have to get a binance account, then deposit to binance via LN, then you can use your binance balance to fund Redotpay. But that's not what the AI meant when I originally asked it while...

@gringokiwi @usebipa Can you use it as a debit card so you don't have to over collateralize?

@SuperTestnet Outside the US the scene is even better For example @usebipa in Brazil allows you to get a credit card limit equivalent to 50% of your BTC collateral (i.e. 100k sats = 50k sats limit), with full LN integration for deposits and payments

@francispouliot_ I don't know how to summarize jurisdiction in this format. There's over 150 jurisdictions. I just wrote "Available in USA" as that's where I live. I should add a column like "purchasable without identity info." Only The Bitcoin Company and Bitrefill (gift card) would be green.

@SuperTestnet most importantly you are missing at which merchants it works at. Most reloadable card will work in only a single jurisdiction. Also, missing the KYC requirements.

Noteworthy: The Bitcoin Company's card has a workaround for its non-reloadability. If you have a leftover balance on it, you can use that leftover balance + a lightning deposit to fund a new card. Which makes it "feel" reloadable, only it's technically a new card with new digits

@predyx_markets Does the ban include traditional futures markets like the CME and NYMEX? Those are prediction markets too.

JUST IN: The U.S. Senate has reportedly voted unanimously to ban senators from trading on prediction markets, effective immediately.

Usually, Japan's government steps in about now to lower this number, mainly by selling US treasuries. But I think their "outflow" of US treasuries has exceeded their "income" of the same for a while now. I wonder if they can keep it up, or if they have to let inflation run hotter

How Ben runs his entire brick & mortar using ONLY LNbits: ✅ Fiat + Bitcoin payments (PoS & web) ✅ Shared inventory + order management ✅ Customer chat with paid support ✅ Notifications for orders, stock, and chat via Nstr/email/Telegram ✅ Stock & task management for employees ✅ Auto sync to Xero for easy reconciliation youtube.com/watch?v=4fJGyG…

@CoinControversy @0300dbdd1b @w_s_bitcoin Are you up for a challenge? How's this: you pay a lightning invoice of my choice and try to trace the payment (i.e. tell me where the money ended up and how much money the destination holds) and I will pay a monero address of your choice and try to tell you the same info. Deal?

@0300dbdd1b @w_s_bitcoin prove that lightning is more private. All I see in this thread is baseless hate towards a legit coin based on nothing except "but but it diverts attention away from Bitcoin" FCMP is coming too which will end any "debate" as to what is more private

Monero's a privacy coin for retards who don't know how to use bitcoin privately.

@kiawtzin - ...that hasher as a bad hasher - Also once per minute, the hasher checks if he has been paid for the last minute of work; if so, he keeps hashing, otherwise he stops So I'd say the proof of concept is already pretty far along! I hope to upload a demo video with code soon

@kiawtzin - ...represents the lowest value that the hasher, with his advertised hashrate, is still 99.9% likely to have gotten a lower value than, given how much time he has been hashing - If that check passes, the renter uses his channel with the hasher to pay him; otherwise he marks...

My latest essay analyzes a surprising thesis: hashrate markets are theoretically more efficient than pools gist.github.com/supertestnet/4…