July 28, 2022
Bitcoin.Review E3: A Review of Updates to Popular Bitcoin Projects with NVK and Justin Moon
show notes: https://github.com/nvk/bitcoin.review.episodes/issues/3
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01:14 - Introduction and technical difficulties
03:07 - Twitter data breach and the importance of privacy
12:40 - Blue Wallet's transaction data and paywalls to fight spam
20:35 - Coldcard updates and improvements
24:49 - Seed Tool and its features
28:18 - Tor Browser updates and improvements
29:45 - JoinMarket and its use cases
43:00 - Bitcoin Binary and its reproducible builds
44:09 - Funding for Fidelity
45:22 - Venture funding for Fediments
48:42 - Importance of companies in open source projects
53:23 - P2P communication project by Bitfinex and Tether
58:08 - Border Wallets for memorizing seeds
01:05:57 - VLS signing device for Lightning
01:18:08 - Bitcoin Core updates
01:26:59 - Bitcoin Treasury updates
01:32:15 - Bitcoin Meshnets
01:35:34 - The challenges of earning and selling Bitcoin
01:36:22 - Bitcoin Magazine's impact in the Bitcoin space
01:38:07 - The concept and potential of mesh nets
WEBVTT
NOTE
Transcription provided by Podhome.fm
Created: 3/17/2024 4:24:39 PM
Duration: 7156.036
Channels: 1
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Hey, Matt.
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Yo. Yo. Yo. I hear you. Justin?
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Testing 1, 2, 3.
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Okay. So I'm gonna mute the both of you.
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Alright. So the you did record. So, and now my waveform is showing. So I think I think we're in a good space. And if we see the error again, we'll pause, refresh the window, and then continue recording so that we don't lose Matt this time.
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Still pretty that. Still pretty sure that was the fault was on your side, but
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Yeah. No. It's it's very possible.
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But, so here's the thing. At the end of this,
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save the file.
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Yeah. That didn't help us last time.
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No. Well, you you should have for some reason. Then it was on your side because that's a local recording.
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Well, anyway anyway, I was the one who fixed I was the one who fixed the audio at the end of the day. So I can't hear you, Matt. I just muted you.
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At the end of the day, I was the one who fixed the audio. So I I can't hear you. I just muted you again.
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Alright. Okay. I'm gonna start recording. Okay? Hang on.
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Hello, and welcome to the episode
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3 of the Bitcoin review podcast.
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We continue.
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This is the 3rd iteration
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of a 1, 2, 3 iterations
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of this podcast. Yay.
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We have,
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the idea of the show is to boringly go through the Bitcoin,
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products,
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updates,
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and we've been failing so far at being boring apparently.
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So and we also been failing at reserving our opinions.
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And so we hope to disappoint you again.
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I have,
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Matt
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and,
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Justin
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return to the podcast.
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They seem to be fixtures that don't go away, and I'm very appreciative of that.
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So,
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why don't we say hi to them?
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I just wanna thank,
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Justin and BJ. Great to be here.
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I love the enthusiasm. We could we could That's great enthusiasm.
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That's that's you.
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Exactly.
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That's racism.
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And then,
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Matt? Enrique figured out how to press the mute button so he can just mute me on demand, which I'm not enjoying, but I just wanted to thank Justin and him for joining me again. Matt, you're a dumber.
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I think it's his Internet, mate.
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His Internet's,
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just cutting edge a little bit. I no. Wait. I just unmuted you. Traveling. I'm still learning. I'm still learning. Fucking hate you. Go ahead, Matt. Fuck you. Go ahead, Matt.
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Sorry. You're muted again. No kitty.
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Fuck you.
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Okay. Well, we have to keep this show,
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clean. Otherwise, it's amazing how much fun an adult can have with one little button. You know, one little button. It's amazing. It reminds me of the Staples no button or yes button. I bought the no button on the Internet once.
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Anyways.
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Yeah. So Yeah.
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Let's start this baby.
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Let's go through a few vulnerability
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disclosures.
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Twitter had a data breach.
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He exposed the contact details for 5,400,000
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accounts.
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It's on sale for only 30 grand. So about, a big way and a half right now, you can buy,
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5,400,000
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records.
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You get, Twitter usernames,
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emails, phone numbers,
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and their underwear size. Why is Twitter keeping their underwear size?
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For Anyways, apparently, it was patched. Yeah. It was patched back it was disclosed and patched back in January.
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You know, this is a perfect example why
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it's it's it's pretty bad that Twitter basically forces you into providing a phone number. You don't have to provide a phone number, but if you
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don't, they tend to block your account and then try and get you to basically light KYC and be a phone number,
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which puts users at risk when these leaks inevitably happen.
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Consider using burner phone numbers. And also rumor is NVK is actually gonna buy the list, to send cold card propaganda to.
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That sounds more like a ledger move, but 30 k is cheap as fuck.
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Yeah. I mean, it must be really high quality.
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So what what's interesting is,
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I remember running sort of, like, web companies and services.
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Phone numbers are are surprisingly good way of removing the first layer of scammers
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and and spammers.
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It's like an unfortunate
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easy way out for web, suppliers.
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What,
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what I find unfortunate
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is that,
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you know, why don't they just charge people like $5 with their bird app,
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premium subscription and then don't do any of this k y c stupidity? Because somebody, like, scammers and and spammers are not gonna pay $5 per account.
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Absolutely won't,
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especially if you're recurrent.
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So, that's kinda silly.
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But, you know, they don't learn. Right? They rather, spend all their money in, making sure that,
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none none will get blocked. Go ahead.
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I signed up a couple Twitter accounts recently, and, it was it was quite,
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pathetic. They they would allow you to sign up without a phone number, and then you'd show up a day later, and your
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account would be restricted. Right? So they wouldn't ask you,
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for the phone number initially, but,
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they just restrict your account. You show up, and then you have to reenter it. So you can and they wouldn't allow you to reuse it. So you had to so I was, like, you know, trying to get new
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phone numbers. Yep. One great thing I tried was silent link, silent dot link.
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It's a really cool tool to just buy a phone number with lightning. So if you ever need this problem, that's a fun way to solve it. Another good service is,
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text verified.com,
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which provides disposable phone numbers for these services.
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I mean, services like Twitter and other services that essentially force you to do this, like, light KYC to use the product, make it really hard to use anonymously,
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should get flack from their users. It's user hostile behavior.
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To MBK's point, I like the idea of paywalls to fighting spam.
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It's essentially, like, the same idea as proof of work.
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Obviously, if you use credit cards, that might as well be light KYC as well or heavy KYC depending on how you look at it.
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But if if they depends on who the processor is. Right? Showed up if they just showed, like, a lightning invoice for $5 when you make an account, they would cut down on probably
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50 to 75% of bot activity on the platform.
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Matt, your your microphone is, burning a little bit at the top there as it's peaking. You wanna probably drop it a little. Well, we could've voice checked if you didn't just mute me every fucking time I spoke.
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Well, that was a a very high quality
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mic check. Okay. I lowered it on my side a little bit. Yeah. No. It looks better now.
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So, yeah, I I mean, I think paywalls are the way to go for the people who want it. You know,
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to their
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benefit of doubt, let's put it this way. Like, the majority of users on Twitter are not gonna pay even 50¢,
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so they have that problem.
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It's not it's not an easy problem because users are, like, the biggest sort of, like,
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at like, guilty here. Like, they will not pay.
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So I think companies just take the the path of least resistance, which is this bullshit,
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lightweight KYC
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Right. That can cause a lot of problems. It's not either or they can always give you the option. Right?
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Yeah. But, you know, like this company is, you know, they employ 10,000 devs
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to create the form for you to report that doesn't report, but they don't put any devs or any people really to solve these problems. It's kind of annoying.
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Alright.
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Moving on to another one of these
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KYC leaks.
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Well, not really a KYC, but a form of it. ActiveCampaign
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database was leaked.
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You know,
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it's kind of a and I think, the was it? The our friends at Shift Shift Crypto,
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were affected.
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Name, aliases, email addresses, and IPs.
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And I think there were a few more Bitcoin companies that were affected. Right?
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Yeah. So this is
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there was a bunch of companies that got hit by ActiveCampaign
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leaks or compromises and HubSpot
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compromises.
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I I believe Nydig,
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Swan, Unchained,
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there were a bunch of them, but that was, like, 4 months ago. This is appears to be a separate compromise that was just targeted specifically at,
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Shift crypto.
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So, one thing that a lot of people don't know is that when hackers find a little door like this,
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they will keep on,
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attacking that door without being too overt and trying to take too much stuff out
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because they wanna just keep on draining out the stuff. Right? So,
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you know, even though they may have found the patch or may have found one problem with the thing,
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The guys are either still in there because they're probably using a dev admin key
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or,
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you know, like
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they managed to get away with some stuff without the company
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finding out on the first audit.
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So, you know, always expect that everybody else in that same service is gonna probably be eventually releasing some information about how they also go up.
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What I what I don't understand is why Bitcoin companies are sending their customer information to this third party marketing shit,
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without customer permission.
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It's really annoying.
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Another thing in this week was IP addresses too, so that's another reason to use a VPN.
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Yes.
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It's, it's tragic. I mean, it's not like the the worst possible information, but it's pretty bad. A lot of people forget to use burner emails
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and and names and things for these things.
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You know, remember to always uncheck the box that says send me updates
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or subscribe me to the newsletter. I hate when it's auto checked.
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There is there is another aspect here, though. I mean, you said burner email addresses.
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It is to go back to the Twitter thing, it is come becoming harder and harder to have a,
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an email address that's not linked to your identity. I I mean, there are
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services,
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like,
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simple login
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and
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ProtonMail
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gives you, like, the ability to do aliases,
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but it doesn't really
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help that much,
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in terms of making it easy to have anonymous email addresses.
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How's my audio now?
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It's it's great. It's only when you get very close that has there there is no gate there, I assume. So I was just adjusting the gain while I was talking. That's why it was long winded.
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No. That
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was
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good.
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Yeah. I mean,
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I I totally understand, like, the the like, you you want
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a
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a a means of having a a direct channel to your customers. Right? So you want to have their emails, not just depend on Twitter or something else. So,
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I mean, my preference is you have your mailing list
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stuff separate from your your business logic. Right? So if the customer wants to subscribe to that, go there and subscribe to that. So we have a sub stack. Go in the sub stack and subscribe. Right?
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Or our dev mailing list or something like that. Just don't don't cross this stuff so that, you you know, you don't put customer risk.
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Ledger had that vulnerability too on their store because of the CRM. Always the sales and marketing solutions
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that that do the leaking. It's not the actual, like, store database per se, most cases.
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Alright.
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Blue wallet,
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sends transaction data to their servers
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even when
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using your own node.
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That's not great,
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but at least people can disable it. I just wish it was disabled by
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Fake news on the Internet. Opt in to push notifications in the operating system.
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Right. Yeah. If you go you go if you go into BlueWallet settings,
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you can enable push notifications. And if you do
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that, then it, by default, hits their notification server.
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Yeah. But then they have no choice if you want Well, they they actually have to. Props to them. They do give you the option to run your own they they open source a notification server, so you could actually run your own notification server if you want. That's great. We should update that with the link and the correct story here.
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Alright.
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We're gonna now start with the software releases and project updates.
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So Nunchuk
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released 1.9.9.
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They edit
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support for NFC,
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the collaborative
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wallet recovery, so that's BSMS,
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and a bunch of, bug fixes and improvements.
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I happen to try this release because it does integrate the tap signer, which is a lot of fun.
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So, being pretty happy with their wallet actually. It's nice to be able to choose. So you import your keys similar to Sparrow
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and Spectre,
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and the keys are separate from the wallets, and then you choose what do you do with those keys. Those keys could be part of multi sigs.
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They could be part of single sigs. They they are part of how you log in if you want.
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I I'm I'm really enjoying how this project is, is progressing.
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Yeah. They've had really low time preference. They've been working on this for 2 years, and they just, they built everything natively. They built,
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all a lot of their core logic for interacting with Bitcoin is pulled out of Bitcoin Core.
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You know, they That's they're also been inching closer and closer.
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Yeah.
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Yeah. So,
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I I I haven't tried it for a while. I'd like to try it again. I I remember, they were just, making some announcements also about their end to end encrypted chat,
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you know, to basically they made a multisig to pass signatures around.
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They use they use matrix underneath, which is pretty cool.
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So, you know, you got people coordinating multisig and it's like a chat interface, which could be which is pretty neat.
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Props to Hugo. I mean, you know, he also released a a
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a a nunchucks,
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rebuilt our Python,
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tap, NFC tap library
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in c plus plus and released it open as well.
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Are the apps open source yet?
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I mean, all the the the meat of it is on GitHub,
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the libnunchuck and all that stuff. I don't know if the apps themselves are.
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Because, If I recall correctly, I remember,
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like, the main way you interact with it is through the Android or iPhone app, and those aren't
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and when I say open source, I'm not saying false. I'm just saying source viewable. No. No. I know. I I think so. The the way that they build is all based on their c plus plus library, which is libnunchuck, and that's open. That's on GitHub.
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I don't I haven't seen if their apps, like, the app shell is there or not.
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You know, for Android, that's kind of that matters. Oh, but but But for desktop. For iOS, it's the same shit because you're trusting anywhere.
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Yeah. Because iOS, you can't side load the app. Right? So no matter what, you're trusting the app server version. Open source, but not
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Yes.
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And their desktop they also have desktop.
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I don't know, I really like it. It's like it really brings me back to that old tool called Kopay, which was a very good app that sort of, like, couldn't handle a lot of transactions because it was JavaScript, but,
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it, this is really nice. And, for collaborative multi sig without a third party,
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like, a paid third party kind of thing is nice. Yeah. I will say like a company wallet. I will say that,
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as someone who
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has been part of multiple
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collaborative, multisigs for various projects and bounties and whatnot.
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Even the most
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hardcore technical Bitcoiner struggles with communicating
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the partially signed Bitcoin transactions between keyholders to sign and all that coordination involved is a massive friction pain point that even very hardcore big corners fuck it up,
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and Nunchuk
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just kind of aims to
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to fill that gap really cleanly. So I'm very bullish on that project. I love the idea that you also have encrypted comms
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for the coordination
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of the multisig transaction.
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So you can, you know, you can sort of trust that the other party is the other party.
250
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And you can sort of have conversations around the transaction
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without sort of exposing the transaction to your email or other chats. Like, right now, you're, like, pasting long PSBT text files, like, in signal or fucking matrix or something like that. It's a pain in the ass. Yeah. This is I wonder if this will become a standard.
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We, maybe that's the next level.
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I will I will chat to Hugo about this.
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Maybe the next thing is for There's another aspect here too where
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sorry. Sorry. There's another aspect here too where the chat is useful.
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Like, if you set up a device, a lot of times you wanna do it on your desktop,
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but you wanna like, you might wanna get the keys onto your phone too. Right? Because they have a mobile phone. And I think this
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the the chat would also help, like, you know, syncing the configuration between the desktop and the mobile, which would be really nice. Yeah. They have a server for that. They they do multidevice syncing. It's it's still beta.
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Yeah. Yeah. No. This is, the the what I hope that demo made me realize that the, that
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Yeah. So so my hope is that this flag here, but, Yeah. No worries.
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Is that,
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I'm just saying that the the okay. I'm I'm just gonna I'm just gonna go,
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seamless demo, and a compliment you here,
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So seamless demo made me realize that these, these these NFC cards would be really nice for,
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for, for multisig. Because it's also you know, it's like a completely different software stack. And also it's like the just adding it is super super slick. You know? Like, it does
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like, I would like to add one of those to my setup. I mean
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Hey, Justin. If you're still hearing us, after you you you're done, try refreshing the page and reentering.
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We'll be here.
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I it might sync back.
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So,
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so
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so wallets
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to talk to each other.
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So, like, whichever p two p
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protocol they start using, maybe it's, maybe it's, whatever p two p,
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whatever p to p,
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solution that they use will be really nice if, if it becomes a standard because then,
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you know, you essentially share with each other x pubs and all of a sudden even the chat works. Right? Even though you're using different vendors. That that could be really, really cool.
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Yeah. I mean You're back, Justin. Open standards for the win. That would be fucking awesome. I'm back.
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Mhmm.
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And then, like, the the cool thing of this too as far as I understand, which is great.
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Yeah.
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The the cool thing with this is that, you know, like, now you can you cannot have your private key on the phone either with the the tap signer thing.
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So I can have encrypted comms
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with a private key that's not on the phone.
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I mean, it it starts to become very cool very fast.
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Anyways, I pretty blisters
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up.
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It's nice to see different stuff being developed. It's not just the plain wallet.
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Alright.
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Let's go to BDK.
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BDK
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0.20
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is out. Highlights
295
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for this release include bug fixes for electron blockchain,
296
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and descriptor templates, new transaction building features to discourage fee sniping,
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and new transaction signing options.
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Also, with this release, MSRV
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is now 1.56.1
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and
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address validator is deprecated.
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A big thanks to our contributors,
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they say.
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Do you guys have any,
305
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any comments about their, the fee sniping?
306
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I I I don't really see the point,
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but
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that might just be me.
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I mean, it seems like an altruistic thing you do to try to
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improve the incentives of mining a little bit. I think it's pretty niche.
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What I what I do think is that there's you could see BDK is actually starting to get used.
312
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It's had a lot of development, like, a year and a half now, sponsorship by Spiral. And you're starting to see actual companies use it now. Like, I think Unchained Capital was, playing around with it. I I saw Francis Puilio,
313
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was talking about it, doing some integration with it on verbal Bitcoin. So, like, it's it's nice to see that they're they're starting to get some, like, rural,
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usage.
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That that's great. It it's nice that the
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the the hot stuff
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of the wallet is sort of, like, more centrally
318
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not centrally, but more collaboratively
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worked on. So you gain a lot of security from that.
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BlueWallet,
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also has,
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LDK,
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and I oh, we're talking about BDK, but BlueWallet has LDK built in to the developer edition.
324
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I mean, that'd be nice. Maybe BlueWallet should move to BDK.
325
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They they will probably save a lot of development too.
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Alright.
327
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Okay. So on to COVID card number 4. Thing is it should get interesting if if blocks ever get sustained full,
328
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in a high fee environment. But I I'm kind of of the belief that, you know, if we see
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we can kinda wait till that type of situation kind of it's fee sniping is not really a,
330
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like, a deadly kind of issue.
331
00:23:14.635 --> 00:23:18.290
It's not something that's just, like, catastrophic failure or something like that.
332
00:23:18.770 --> 00:23:21.270
But that's also the market. Right? I mean, like, you
333
00:23:22.370 --> 00:23:27.510
know, like, they the miners can still choose how they wanna construct their transactions. Right? Exactly.
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00:23:28.445 --> 00:23:33.745
So, like, I it's it's very similar to, like But you want Hashrate to go towards advancing the chain.
335
00:23:35.885 --> 00:23:36.385
Yeah.
336
00:23:38.410 --> 00:23:43.150
The the the problem with these things is that, like, they they try to fight natural market
337
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dynamics on Bitcoin that was still probably
338
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supersede
339
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it around somehow.
340
00:23:50.545 --> 00:23:56.250
You know? That's it's it's, you know, it's similar to trying to prevent double spend. You know? It's just it's just a natural
341
00:23:56.870 --> 00:23:57.530
sort of
342
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aspect of Bitcoin that's never gonna go away. It doesn't matter what he tried to do around it. Right? And because, you know, all the other actors may not even choose to to do
343
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that standard
344
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that is not really preventing anything on on protocol level.
345
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Particularly, like, if we enter, like, a sustained high fee market,
346
00:24:17.005 --> 00:24:22.385
there's a strong scenario where we see fee payments out of band as well. So, like, you're trying to,
347
00:24:23.405 --> 00:24:26.065
control something that you can't even control to begin with.
348
00:24:26.960 --> 00:24:29.860
Right. I mean, you know, let's let's not forget
349
00:24:30.400 --> 00:24:34.180
that, a zero confirmation Bitcoin is not your Bitcoin, so
350
00:24:35.835 --> 00:24:36.895
it is a nonissue.
351
00:24:40.794 --> 00:24:41.294
Okay.
352
00:24:42.910 --> 00:24:45.570
Moving on to code card mark 45.0.5.
353
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We,
354
00:24:51.515 --> 00:24:53.295
released finally the
355
00:24:53.675 --> 00:24:55.215
bib85 derived passwords.
356
00:24:55.995 --> 00:24:58.175
These are really cool, a 126 bits.
357
00:24:59.470 --> 00:25:00.370
If you
358
00:25:00.750 --> 00:25:02.530
it's a 136, but anyways,
359
00:25:04.350 --> 00:25:07.810
you know, what's cool about that is, you know, it's very similar to the bit 85
360
00:25:09.135 --> 00:25:15.715
derived seeds. You have an index, and then you get a strong password, and then you can use that strong password for interesting things.
361
00:25:16.750 --> 00:25:18.450
Please use a different device,
362
00:25:18.910 --> 00:25:24.450
a a secondary code card to to do this for for computer stuff if you're gonna connect to a computer.
363
00:25:25.684 --> 00:25:27.144
I would recommend that.
364
00:25:28.164 --> 00:25:30.745
We did release some docs on it. We hope,
365
00:25:31.445 --> 00:25:34.265
that maybe BIP 85 itself gets extended,
366
00:25:35.750 --> 00:25:36.730
for the passwords.
367
00:25:38.789 --> 00:25:43.825
It should be very useful. How does this how does this look in practice, Enrique?
368
00:25:44.605 --> 00:25:45.585
The the user
369
00:25:46.045 --> 00:25:56.380
is plugging in a cold card via USB. And what is there, like, a text file that lists all the passwords or something like that? No. It's a lot more interesting than that, Matt. I know you like the quick hacks.
370
00:25:57.160 --> 00:26:00.220
Yeah. So you can use, USB. You can use NFC
371
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or QR.
372
00:26:03.175 --> 00:26:05.915
But NFC and USB, we emulate a keyboard.
373
00:26:06.375 --> 00:26:07.355
So we push
374
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the password itself as a keyboard to the input field.
375
00:26:12.080 --> 00:26:25.805
So what are you picking on the cold card screen which password to push? Yes. Yes. You pick So you go to the password pushes. You go to the password field on your computer or your phone, and then Yep. On the cold card, you pick pick which password you're pushing.
376
00:26:26.560 --> 00:26:32.180
That's right. And does the cold card have built in labeling so it could be, like, this is to sign in to ledger.com,
377
00:26:32.640 --> 00:26:43.015
or this is to sign in to No. Maybe maybe on the on the next iteration of the feature. So how the fuck are we supposed to use it if we're supposed to remember, like, number 3 signs me into
378
00:26:44.200 --> 00:26:44.700
Yahoo.
379
00:26:45.640 --> 00:26:46.140
Yep.
380
00:26:47.080 --> 00:26:50.380
Yeah. But remember, right, like, this is not for your email. Right?
381
00:26:50.835 --> 00:26:56.294
It's it's silly to use this for email. You're gonna have just a handful of passwords you're gonna use this for.
382
00:26:56.595 --> 00:26:57.095
Say,
383
00:26:57.794 --> 00:26:58.615
your Cloudflare,
384
00:26:59.639 --> 00:27:00.139
your,
385
00:27:00.759 --> 00:27:02.220
your SSH password,
386
00:27:04.120 --> 00:27:06.299
that encrypts the key on your computer.
387
00:27:07.465 --> 00:27:13.325
You may use it for, like, you know, like a server here and there. Like, this is the way you use it for even.
388
00:27:14.025 --> 00:27:17.030
Exactly. I mean, remember. Right? Like, what's the point
389
00:27:17.490 --> 00:27:22.230
of having your email password being this secure when your browser can see it?
390
00:27:22.930 --> 00:27:24.950
Or or where, like, you know, just
391
00:27:25.304 --> 00:27:29.245
the the the bad guys already have access to the email if they want to.
392
00:27:29.625 --> 00:27:34.125
And by that, I mean the government. Well, I would say for a lot of people, their email password should be
393
00:27:35.280 --> 00:27:36.900
treated sacredly because
394
00:27:37.280 --> 00:27:44.500
they can reset all their other accounts if they get access to your email. For a lot of people, especially if they reuse email addresses, which most people do,
395
00:27:45.025 --> 00:27:48.485
the email password might be the most important password, period.
396
00:27:49.265 --> 00:27:52.245
By the way, props to Apple to have that, automatic,
397
00:27:54.930 --> 00:27:57.350
a non email for signing up for apps.
398
00:27:58.610 --> 00:28:04.125
I wish they would put that on the Mac as well. I mean, they might have it on Safari, but I don't use Safari.
399
00:28:05.465 --> 00:28:05.965
Anyways,
400
00:28:06.505 --> 00:28:11.179
so so that's a cool feature. I'm pretty excited about that because it does,
401
00:28:13.100 --> 00:28:14.799
it does help my life.
402
00:28:18.075 --> 00:28:19.034
Okay. What else?
403
00:28:19.515 --> 00:28:22.255
We did the the QR codes are now,
404
00:28:23.355 --> 00:28:24.575
readable on,
405
00:28:25.270 --> 00:28:26.010
bright light.
406
00:28:27.510 --> 00:28:27.990
When,
407
00:28:28.390 --> 00:28:29.370
was it? Ruseer,
408
00:28:30.470 --> 00:28:33.210
gave us a nice update that changes the the
409
00:28:33.685 --> 00:28:38.905
the scanning of the screen, which is really cool. So that does essentially better displaying of the screen.
410
00:28:39.285 --> 00:28:40.745
The scanning rate is different.
411
00:28:43.340 --> 00:28:46.460
And, you know, then there were a few other little bug fixes and,
412
00:28:47.260 --> 00:28:51.200
and, other little things. And, oh, yeah. The OP return now is,
413
00:28:51.900 --> 00:28:52.960
you can have
414
00:28:56.285 --> 00:28:59.425
you can have anything you want on the operator and it'll sign essentially,
415
00:29:01.500 --> 00:29:03.360
so that we don't need to know.
416
00:29:04.540 --> 00:29:05.920
We don't check that anymore.
417
00:29:08.460 --> 00:29:10.320
Yeah. So that's it for code card.
418
00:29:12.525 --> 00:29:13.025
Robinhood
419
00:29:13.565 --> 00:29:16.705
supports back 32. About the one with us the foreign
420
00:29:17.885 --> 00:29:21.730
Sorry? You missed the one with the foreign UTXO. What's the is that the
421
00:29:22.270 --> 00:29:34.024
Yeah. I was trying to skip some because there's a lot yes. So we can now sign something about 4.92 xO because he yeah. Because cold card checks everything. Right? It doesn't wanna let you sign stuff and you get robbed,
422
00:29:34.725 --> 00:29:36.345
by sniping. So
423
00:29:36.725 --> 00:29:37.225
the
424
00:29:39.030 --> 00:29:45.850
there is an option now to sign stuff with foreign TXOs because we have a lot of advanced users that wanna do stuff that, you know,
425
00:29:46.950 --> 00:29:47.690
have fun.
426
00:29:48.294 --> 00:29:50.395
So we wanna support that properly.
427
00:29:51.975 --> 00:29:54.715
That also helps some of the That sounds that sounds useful.
428
00:29:55.309 --> 00:29:57.250
Yeah. It it helps a lot of the
429
00:29:58.030 --> 00:30:02.450
the the the complex multi sig things that people invent out there
430
00:30:02.830 --> 00:30:03.580
and and,
431
00:30:05.655 --> 00:30:06.155
yeah,
432
00:30:06.455 --> 00:30:09.595
or or the HSM functions that it's very useful.
433
00:30:13.049 --> 00:30:13.870
Right. Robinhood
434
00:30:14.809 --> 00:30:15.950
supports back 32.
435
00:30:16.809 --> 00:30:25.615
Nobody should be using back Robinhood for Bitcoin, but if you do, now you can send it to your segued address. I am impressed, like really, like, you know, blockchain
436
00:30:25.995 --> 00:30:30.640
dot info took like, you know, like I don't know how many years to support BIP 32
437
00:30:31.580 --> 00:30:32.720
hierarchical deterministic
438
00:30:33.100 --> 00:30:33.600
wallets.
439
00:30:34.755 --> 00:30:38.775
And then it took another world of time to support BIP 30 2. So,
440
00:30:39.795 --> 00:30:41.015
nice to see Robinhood,
441
00:30:41.475 --> 00:30:46.559
keeping up with the times. I didn't even know you could withdraw from Robinhood. Yeah. I mean It did happen recently.
442
00:30:47.179 --> 00:30:47.919
I will,
443
00:30:48.940 --> 00:30:52.160
no one should use Robinhood, but props are props are due. I
444
00:30:52.725 --> 00:30:55.305
specifically, am on the record saying they would never
445
00:30:55.685 --> 00:30:56.585
allow withdrawals,
446
00:30:58.165 --> 00:31:01.045
let alone deposits. Now they let you do withdrawals and deposits,
447
00:31:02.190 --> 00:31:05.890
across all their shitcoins too. I really did not see that happening.
448
00:31:06.910 --> 00:31:11.170
But, you know, this is Bitcoin incentives in my view sort of playing out.
449
00:31:12.475 --> 00:31:17.215
There's a lot less people who are gonna use Robinhood for Bitcoin and crypto,
450
00:31:18.715 --> 00:31:19.934
if they cannot withdraw.
451
00:31:20.410 --> 00:31:20.910
Right?
452
00:31:21.210 --> 00:31:24.350
Especially after the the the bullshit with GameStop.
453
00:31:25.130 --> 00:31:25.630
So,
454
00:31:26.810 --> 00:31:30.485
I I think they're essentially just being forced to do this to retain customers.
455
00:31:36.544 --> 00:31:37.044
Right.
456
00:31:37.345 --> 00:31:38.965
Next is seed tool.
457
00:31:39.730 --> 00:31:41.990
It's called it by Superfat Aero.
458
00:31:42.769 --> 00:31:43.269
Introducing
459
00:31:43.970 --> 00:31:46.230
predictive seed word input, single
460
00:31:46.815 --> 00:31:50.035
address tool, and multisig address derivation.
461
00:31:51.695 --> 00:31:54.755
My understanding is c 2 is, essentially like
462
00:31:56.130 --> 00:31:56.950
something like,
463
00:31:57.730 --> 00:31:58.710
was it Coleman?
464
00:31:59.170 --> 00:32:04.630
What was the name of the guy who had another c 2? Ian Coleman. Ian Ian Coleman.
465
00:32:05.815 --> 00:32:10.475
I think that's the This one is more powerful, I would say. It's got a lot of features,
466
00:32:11.015 --> 00:32:15.799
but definitely do not play with a live seed in there unless it's on an offline computer. Audited?
467
00:32:16.500 --> 00:32:23.754
Like, is there, like, audits on this? I mean, there's a running on the browser. There's a repo, you can download it offline yourself.
468
00:32:25.815 --> 00:32:26.315
One
469
00:32:26.855 --> 00:32:32.310
like, it's No. No. I meant, like, cold review. Right? So Yeah. No. It is. A lot of times, the wallets wallets
470
00:32:33.010 --> 00:32:34.870
are things that that touch seeds
471
00:32:35.650 --> 00:32:37.270
tend to have, like,
472
00:32:38.370 --> 00:32:44.315
let's say, notable people from the the community who go and sort of, you know, give a thumbs up
473
00:32:44.695 --> 00:32:47.915
saying, hey. You know, I I did check this and things look reasonable.
474
00:32:48.690 --> 00:32:53.030
I'm just curious. There is not. It's relatively new. It's just a humble false project.
475
00:32:53.650 --> 00:32:55.670
Like I said, you can download it offline.
476
00:32:57.035 --> 00:32:59.535
And because it's just a powerful, simple tool,
477
00:33:00.475 --> 00:33:03.215
there are creative ways you can use it if you're a responsible user even without
478
00:33:13.965 --> 00:33:15.505
he set up a cold card,
479
00:33:17.164 --> 00:33:18.385
with dice rolls.
480
00:33:18.924 --> 00:33:22.945
And then on an offline computer, he confirmed the dice rolls
481
00:33:23.950 --> 00:33:24.269
with,
482
00:33:24.830 --> 00:33:27.330
the seed generation on the seed tool.
483
00:33:27.630 --> 00:33:43.639
So he knew that cold card wasn't lying to him about that, and then he wiped the cold card and then generated a new seed and felt more comfortable trusting the dice math on the cold card because the first one worked, but didn't use that seed because he was too paranoid to have it in the seed tool.
484
00:33:44.419 --> 00:33:44.919
Right.
485
00:33:45.539 --> 00:33:47.799
Yeah. That that's that's the way to go.
486
00:33:48.465 --> 00:33:50.725
Another way you can do this is,
487
00:33:51.345 --> 00:33:52.645
you know, you can just,
488
00:33:53.265 --> 00:33:53.745
run,
489
00:33:54.225 --> 00:33:55.605
Electrum on tails
490
00:33:55.905 --> 00:33:56.645
and load
491
00:33:57.870 --> 00:34:00.690
the the seed in there and see if it, matches.
492
00:34:01.870 --> 00:34:04.049
I guess you could also run this too on tails.
493
00:34:05.784 --> 00:34:15.005
Just please, people, be very careful with browser tools, not because the developers are nefarious. That's not the point. It's just because the browser is a absolute cluster fuck.
494
00:34:16.380 --> 00:34:18.240
That was not designed to have any security.
495
00:34:18.940 --> 00:34:20.400
So, just just
496
00:34:20.780 --> 00:34:21.920
watch out to this.
497
00:34:22.299 --> 00:34:29.185
Although if you are using a burner seed, I mean, that then there is really no harm. You can do that in any computer, really.
498
00:34:29.565 --> 00:34:39.050
Yeah. And I feel like it it helps. It getting getting hands on stuff really helps with the education process. So the fact that they Yes. Kind of make it very,
499
00:34:39.590 --> 00:34:40.090
clear
500
00:34:40.950 --> 00:34:45.635
what is happening behind the scenes as you're using it, you can really, like, start to learn,
501
00:34:46.175 --> 00:34:51.315
how these seeds are derived, how they're used in different ways. It's a nice way of just practicing and learning.
502
00:34:52.670 --> 00:34:55.170
Yeah. No. That that's a that's a very good point.
503
00:34:55.630 --> 00:34:56.610
Yeah. I think I
504
00:34:56.990 --> 00:34:57.490
I
505
00:34:58.110 --> 00:35:00.450
Go ahead, Justin. I learned what a derivation
506
00:35:00.795 --> 00:35:12.330
path was, like, when I was first getting started. I I learned what a, like, a derivation path was just using the Ian Coleman tool, which was great, you know. So if you if you wanna learn some of the basic stuff, like, what is a derivation path, use a tool like this.
507
00:35:12.870 --> 00:35:17.450
Yeah. I know. It's nice because you put in the seed or x priv. Right?
508
00:35:18.664 --> 00:35:25.085
And then, you know, you pick a few buttons. I don't know about this tool, but in the EANS, you pick a few buttons and then it sort of like
509
00:35:25.920 --> 00:35:26.660
it it deterministically
510
00:35:27.120 --> 00:35:29.780
derives everything. Right? So you can see,
511
00:35:30.800 --> 00:35:33.140
like, exactly all the types
512
00:35:33.744 --> 00:35:36.005
of of exports that Bitcoin
513
00:35:37.185 --> 00:35:40.885
use in most wallets and how they interact with each other. Right?
514
00:35:41.984 --> 00:35:43.125
That is pretty cool.
515
00:35:45.970 --> 00:35:46.470
Alright.
516
00:35:48.690 --> 00:35:49.510
Tor Browser
517
00:35:50.370 --> 00:35:52.070
v version 11.5,
518
00:35:53.714 --> 00:35:54.214
automatic
519
00:35:54.835 --> 00:35:57.015
censorship detection and certain convention, redesigned
520
00:35:58.435 --> 00:36:00.615
network settings including streamline
521
00:36:01.350 --> 00:36:02.170
bridge options,
522
00:36:02.710 --> 00:36:03.210
HTTPS
523
00:36:03.670 --> 00:36:04.890
only by default.
524
00:36:05.270 --> 00:36:05.770
Finally.
525
00:36:08.695 --> 00:36:13.435
So, yeah, I mean, the Tor Browser is, is like 11 now, and it's amazing to see.
526
00:36:14.375 --> 00:36:15.835
So to be clear here,
527
00:36:16.215 --> 00:36:17.355
since you said finally,
528
00:36:17.920 --> 00:36:19.460
usually, Tor Browser gets,
529
00:36:20.160 --> 00:36:21.780
shipped with HTTPS
530
00:36:22.240 --> 00:36:23.380
everywhere extension,
531
00:36:24.320 --> 00:36:26.475
which basically in practice made it,
532
00:36:27.035 --> 00:36:27.535
HTTPS
533
00:36:27.995 --> 00:36:32.895
only, but now it's just built into the browser. So they removed the extension. The way it should be. Right? Yeah.
534
00:36:33.900 --> 00:36:36.800
Although one thing I hate about HTTPS by default,
535
00:36:37.180 --> 00:36:40.720
I don't I I don't know the behavior on the Tor browser, but
536
00:36:41.665 --> 00:36:43.765
the problem is, you know,
537
00:36:44.705 --> 00:36:47.925
TLS certificates are all essentially centralized. Right?
538
00:36:48.625 --> 00:36:51.045
You have you need a centralized authority, a CA,
539
00:36:51.410 --> 00:37:01.565
to issue those certificates or the browser essentially don't work. Self signed certificates don't work anymore on Chrome, for example. But to be clear with with tours specifically,
540
00:37:02.025 --> 00:37:03.164
the concern is
541
00:37:03.464 --> 00:37:08.765
if you're visiting the clear net, you have to go through an exit node. So if there's not if there's no HTTPS,
542
00:37:09.144 --> 00:37:13.470
they can swap out man in the middle of you on that, and we've seen them do that already.
543
00:37:13.770 --> 00:37:19.310
Now, I mean, if you wanted to go the real hardcore approach, it should just be no clear net websites, period.
544
00:37:20.255 --> 00:37:26.435
But the tour team has taken the trade off model that they think, you know, they get more user adoption if people are able to,
545
00:37:27.460 --> 00:37:30.760
also visit clear net sites. But if you're if you're really,
546
00:37:32.740 --> 00:37:42.105
if you if you really want, you know, the best privacy guarantees, the best security guarantees, you should be doing onion only websites, Tor only websites, and a lot of the good Bitcoin websites specifically,
547
00:37:43.125 --> 00:37:44.265
have those available.
548
00:37:45.369 --> 00:37:45.869
Yep.
549
00:37:46.410 --> 00:37:49.950
I mean, Tor is is pretty amazing. I mean, especially Tor v 3.
550
00:37:50.970 --> 00:37:52.109
You know, having
551
00:37:53.115 --> 00:37:55.694
having essentially a tunnel with a public key pair
552
00:37:55.994 --> 00:37:57.694
that is not centralized
553
00:37:58.155 --> 00:37:59.454
is is a very cool thing.
554
00:38:01.289 --> 00:38:11.155
And so, like, I I love Tor even just internally we use, you know, between servers and things just because, like, it's a tunnel we trust. We're not, like, using some some,
555
00:38:13.395 --> 00:38:20.970
server sort of VPN kind of thing or anything like that. You just, you know, you create a connection of towards between them and, like, boom. You have yourself a a very strong,
556
00:38:24.070 --> 00:38:26.890
tunnel system, an Internet system, for yourself.
557
00:38:27.595 --> 00:38:30.734
One thing. And Yeah. Go on. Yeah. Sorry. It's just,
558
00:38:31.595 --> 00:38:32.575
you know, you
559
00:38:33.234 --> 00:38:44.305
clear net. Right? I mean, even if so so, like, I completely get a trade off. I mean, you want your users to be able to access clear NAT even if they are at risk of Yeah. Of some men in the middle there.
560
00:38:45.425 --> 00:38:46.484
I don't trust TLS,
561
00:38:47.184 --> 00:38:51.684
personally, especially against the doctors, like, the state actors going after tour.
562
00:38:52.720 --> 00:38:58.339
One thing I would add is a feature they added a couple months back is that if you are running a website,
563
00:38:58.960 --> 00:39:00.579
and you care about privacy,
564
00:39:01.555 --> 00:39:08.695
there is a way to set a flag, basically. So if someone accesses it via Tor browser, it automatically reroutes them to the onion site.
565
00:39:11.740 --> 00:39:16.480
Didn't know it was there was a script before I could put on your website, but that that's nice. Yeah.
566
00:39:16.964 --> 00:39:25.385
I'm not sure exactly how it works, but it's something that website admin has to set up. But once you have it set up, if someone puts your Clearnet address into Tor Browser, it goes to the onion address.
567
00:39:26.730 --> 00:39:30.910
Cool. I haven't followed much, but how's I2P working these days?
568
00:39:31.370 --> 00:39:34.670
Is it, like, catching on, or what's the what's the deal with that?
569
00:39:39.965 --> 00:39:53.400
Nobody? Justin, you have some insight here. I mean, I've been hearing ITP hype for, like, 10 years now, and it feels like it never gets off the ground. Yeah. I know. That's, it's not an easy problem. I've never seen anything with ITP. Never use it once.
570
00:39:53.964 --> 00:39:59.585
Yeah. I mean, to be fair though, if it wasn't for state actors needing Tor as well for themselves,
571
00:40:00.045 --> 00:40:03.025
everybody who runs a Tor exit node will probably already be
572
00:40:04.700 --> 00:40:06.160
it is essentially like
573
00:40:06.700 --> 00:40:11.280
a, it's similar incentives to Bitcoin in a way. Once state actors have Bitcoin,
574
00:40:11.845 --> 00:40:20.424
they don't wanna kill Bitcoin. Right? So, the company tore themselves. To a weaker sense, I would say the tore threat model the tore threat model assumes
575
00:40:20.730 --> 00:40:27.950
that the US will not actively attack it, while the Bitcoin threat model is fine with the US actively attacking it.
576
00:40:28.250 --> 00:40:28.990
That's correct.
577
00:40:31.525 --> 00:40:33.305
It's just it's a so it's an interesting,
578
00:40:34.484 --> 00:40:36.585
symbiotic relationship of that project.
579
00:40:38.805 --> 00:40:39.305
Okay.
580
00:40:39.869 --> 00:40:41.010
So joinster,
581
00:40:41.630 --> 00:40:43.330
it's a coin join implementation
582
00:40:43.710 --> 00:40:44.690
using nostr,
583
00:40:45.869 --> 00:40:47.890
uses the nostr protocol for coordination.
584
00:40:48.635 --> 00:40:50.015
This seems very interesting,
585
00:40:51.355 --> 00:40:53.375
you guys know I am a JM fan.
586
00:40:54.234 --> 00:40:55.930
I have not tried this yet.
587
00:40:56.250 --> 00:40:58.589
I have heard interesting things about Noster.
588
00:40:59.530 --> 00:41:00.670
Any of you
589
00:41:01.290 --> 00:41:01.950
are Noster,
590
00:41:02.809 --> 00:41:04.349
or knowledgeable about it?
591
00:41:09.115 --> 00:41:11.215
I have I tried, jv 55,
592
00:41:11.515 --> 00:41:12.335
William Kassering's,
593
00:41:13.035 --> 00:41:13.535
domicap.
594
00:41:14.829 --> 00:41:18.050
Yeah. I've tried his Domasap, which is it's really slick. Like,
595
00:41:18.510 --> 00:41:19.650
you know, it it,
596
00:41:20.349 --> 00:41:27.535
they're not allowed to be using it yet, but I could see this kinda catching on. But I guess the protocol is just really, really simple. It just relays messages. You have to say
597
00:41:27.835 --> 00:41:30.315
which relays you wanna send and receive messages to.
598
00:41:31.100 --> 00:41:41.974
So it's like the simplest possible version of something like this, and that was the design intention. Whereas well, other things like, you know, web 5 or whatever the the block thing is, They're just, like, kinda complicated.
599
00:41:42.835 --> 00:41:46.275
Yeah. I like simple. I yeah. I would reiterate that,
600
00:41:47.154 --> 00:41:49.575
the coolest part is that it's simple yet powerful.
601
00:41:50.230 --> 00:41:51.930
And I did have JB 55
602
00:41:52.230 --> 00:41:53.530
on sit all dispatch,
603
00:41:54.630 --> 00:42:00.424
with with Fiat, Jeff, and we went pretty deep on it. It's it's it seems really promising. The number
604
00:42:00.724 --> 00:42:05.065
one use case that people keep talking about that people are excited about is a censorship
605
00:42:05.365 --> 00:42:07.545
resistant distributed Twitter clone.
606
00:42:08.360 --> 00:42:11.180
But really at its core, it's a simple communication platform,
607
00:42:11.560 --> 00:42:19.095
protocol. So so you can you can use it for a wide variety of things, including coin joint coordination. At the Twister.
608
00:42:19.555 --> 00:42:20.535
Remember Twister?
609
00:42:20.915 --> 00:42:22.855
Project from about, 2014
610
00:42:23.635 --> 00:42:24.615
ish, I think.
611
00:42:24.940 --> 00:42:28.800
It was the only thing that I ever saw that
612
00:42:29.180 --> 00:42:31.840
would was actually a viable Twitter alternative
613
00:42:32.140 --> 00:42:33.040
p two p,
614
00:42:35.244 --> 00:42:35.744
and,
615
00:42:36.125 --> 00:42:37.825
it was some Brazilian guy,
616
00:42:38.285 --> 00:42:39.905
and somehow the project sort
617
00:42:40.445 --> 00:42:46.970
of like winded off. Who knows? Maybe Twitter just hired a guy or something, you know, like it had that vibe that like it got killed
618
00:42:47.510 --> 00:42:49.370
with an exit strategy there
619
00:42:49.670 --> 00:42:50.970
because it was clearly
620
00:42:52.325 --> 00:42:53.465
a viable solution.
621
00:42:58.650 --> 00:42:59.130
Anyways
622
00:42:59.450 --> 00:42:59.950
alright.
623
00:43:00.569 --> 00:43:01.290
Next is,
624
00:43:01.690 --> 00:43:03.549
bitcoin binary dot org.
625
00:43:04.010 --> 00:43:08.765
The bot was updated. Kyle Dunn, I believe is, his name.
626
00:43:09.225 --> 00:43:13.165
He contributed the the call to upgrade the bot so that,
627
00:43:13.465 --> 00:43:15.559
this site, which I am involved,
628
00:43:17.300 --> 00:43:19.319
it, it makes builds
629
00:43:19.619 --> 00:43:20.599
for reproducible
630
00:43:21.059 --> 00:43:22.040
build projects,
631
00:43:23.744 --> 00:43:29.444
which is a very good way for most people to gain some more confidence that the cold is kosher.
632
00:43:31.050 --> 00:43:32.750
It's a very, very simple solution.
633
00:43:33.450 --> 00:43:34.109
You know?
634
00:43:34.410 --> 00:43:42.415
If you wanna go there and build other projects and submit, it doesn't matter if there's 10 submissions of the same project. That's actually just adds value.
635
00:43:43.194 --> 00:43:45.375
It just means that there is more people out there
636
00:43:46.460 --> 00:43:47.760
arriving at the same,
637
00:43:48.299 --> 00:43:48.799
binary.
638
00:43:49.420 --> 00:43:50.400
I think that's
639
00:43:51.020 --> 00:43:54.319
a very simple way of of finding more security for everybody.
640
00:43:55.425 --> 00:43:56.244
Love it.
641
00:43:57.585 --> 00:43:58.085
Alright.
642
00:44:00.625 --> 00:44:04.325
Let's skip that hiring part there for after. Let's talk about the noteworthy,
643
00:44:05.490 --> 00:44:05.990
noteworthy,
644
00:44:07.010 --> 00:44:07.510
projects.
645
00:44:09.010 --> 00:44:17.415
I heard this about this, Fady that we've brought up the last episode, but, it seems that, like, Fady is now, is now, funded.
646
00:44:18.595 --> 00:44:20.855
Maybe Justin has anything to do with that.
647
00:44:25.530 --> 00:44:29.150
Yeah. So, we formed a company, myself, Obi,
648
00:44:29.690 --> 00:44:31.070
and Eric, Sirion,
649
00:44:31.450 --> 00:44:31.950
to
650
00:44:33.994 --> 00:44:35.135
deploy Fedimintz,
651
00:44:35.835 --> 00:44:37.535
focusing on the developing world,
652
00:44:37.835 --> 00:44:38.734
global south,
653
00:44:39.035 --> 00:44:43.280
which we kinda discussed a little bit, maybe, on the Spaces the other week.
654
00:44:43.580 --> 00:44:48.640
And, yeah, the idea is, like, to actually take this kind of research proposal research project,
655
00:44:50.265 --> 00:44:57.705
which is now becoming you know, getting the point where it's usable and actually try to deploy them in the real world. And you sort of need a company to do that, in my opinion, because,
656
00:44:58.425 --> 00:45:03.820
you know, it's just not it's not enough to just have some nice code, or a nice UX. You actually actually go and, you know,
657
00:45:04.120 --> 00:45:07.100
meet people where they're at and, make it work for them.
658
00:45:07.485 --> 00:45:09.505
So really excited about that.
659
00:45:09.965 --> 00:45:12.225
You know, bring this, like, you know,
660
00:45:12.525 --> 00:45:18.240
payment's great for scalability, for privacy, and, for p 2 in some use cases. So,
661
00:45:18.540 --> 00:45:21.680
I think it's exciting to try to actually bring that to people in the real world.
662
00:45:22.220 --> 00:45:24.400
Good. And you got a pile of cash to do so.
663
00:45:24.780 --> 00:45:25.280
So
664
00:45:25.775 --> 00:45:28.355
so, I mean, it would behoove me to state,
665
00:45:29.615 --> 00:45:31.954
that my venture fund 1031 VC,
666
00:45:32.734 --> 00:45:34.515
co led, this raise,
667
00:45:35.369 --> 00:45:37.710
with Ego Death Capital and Kingsway Capital.
668
00:45:39.609 --> 00:45:42.349
I'm extremely personally bullish on Fediments
669
00:45:42.724 --> 00:45:46.265
as a concept. I think they can help improve the status quo,
670
00:45:47.444 --> 00:45:48.585
of Bitcoin usage,
671
00:45:48.964 --> 00:45:52.185
both in terms of privacy and trust on the custodial side,
672
00:45:52.730 --> 00:45:55.070
because a lot of people just keep opting for using
673
00:45:55.610 --> 00:46:00.270
custodial options regardless of sovereign options out there, mostly because of convenience.
674
00:46:00.645 --> 00:46:03.465
So we can make that status quo convenient option,
675
00:46:04.085 --> 00:46:08.505
more private and require less trust than the current status quo. That's a massive win.
676
00:46:10.410 --> 00:46:13.710
There are a lot of conspiracies out there
677
00:46:14.090 --> 00:46:19.230
about me being bullish on Fedimans because of a vested interest because we
678
00:46:19.635 --> 00:46:33.950
funded them. We did do it first the problem with that? What's the problem with being, like, excited about stuff and then you give people money because you're excited about the stuff, so they build it. Well, I appreciate that, MBK, but I'm gonna address the criticisms real quick.
679
00:46:34.569 --> 00:46:39.335
First of all, we've we first gave them a no strings attached open source grant,
680
00:46:39.875 --> 00:46:43.795
that we were very excited about, and then we funded their their,
681
00:46:45.089 --> 00:46:46.710
their actual company, FETI.
682
00:46:47.329 --> 00:46:49.990
Those are should be treated as separate in my opinion.
683
00:46:50.290 --> 00:46:56.425
And then, second of all, you know, Fedimint as a project, as an open source project is completely false MIT
684
00:46:57.045 --> 00:46:58.025
license code.
685
00:46:58.885 --> 00:47:04.020
So anyone can fork it, run their own Fedimint, do whatever they want independent of the company,
686
00:47:04.800 --> 00:47:07.140
which I'm I if anything, I'm more excited.
687
00:47:07.680 --> 00:47:15.265
I I love you I love you, Justin, and I I love Obi and Eric. You guys are a great team, but I I think I'm more excited about the FOSS project,
688
00:47:16.125 --> 00:47:18.225
than I am about the company specifically.
689
00:47:19.420 --> 00:47:20.160
You know,
690
00:47:20.860 --> 00:47:21.920
without companies
691
00:47:22.460 --> 00:47:23.280
and capitalization
692
00:47:23.660 --> 00:47:25.840
of things, it's very hard to find
693
00:47:27.154 --> 00:47:27.654
enough,
694
00:47:28.275 --> 00:47:28.775
work,
695
00:47:29.875 --> 00:47:30.615
and enough,
696
00:47:31.315 --> 00:47:36.590
like, you know, just just people willing to work to to build the things of consumer facing.
697
00:47:37.470 --> 00:47:41.970
Right? Protocols themselves or standard themselves should absolutely be open.
698
00:47:43.390 --> 00:47:50.355
But the the the business solutions on top of them, you know, like, you you need companies behind. Otherwise, they get nowhere.
699
00:47:52.734 --> 00:47:53.214
And,
700
00:47:53.760 --> 00:48:00.260
you know, this is a lesson that most people will always learn in in free open source. It's just that you need both.
701
00:48:01.175 --> 00:48:07.275
And and and people need to learn how to to like both playing with each other. You know?
702
00:48:08.480 --> 00:48:11.380
There is no point in a a pact of poverty.
703
00:48:12.640 --> 00:48:20.974
You know, people people need to find a way of of making money, and and money helps you build even bigger things and get even more people to adopt it.
704
00:48:21.355 --> 00:48:22.415
I think it's great.
705
00:48:23.869 --> 00:48:33.944
There's a lot of projects that started that way. Right? You have essentially like a like a false protocol thing that is mostly developed by the company that's trying to monetize it separately.
706
00:48:36.244 --> 00:48:38.664
And I I think this model has a lot of legs.
707
00:48:39.125 --> 00:48:40.664
Good for you for funding it.
708
00:48:42.980 --> 00:48:48.200
But, anyway, now that they're funded, I think Justin is hiring on top of it too. You know? It's it is an open source.
709
00:48:49.895 --> 00:48:55.095
Yeah. Exactly. So I was just saying, you know, we we'd love to see more people building on it. We'd love to see,
710
00:48:55.815 --> 00:48:57.435
we'd love to see, a
711
00:48:59.090 --> 00:49:03.190
lot of experiments, a lot of, other deployments, a lot of apps on top of Edgemont.
712
00:49:03.890 --> 00:49:04.290
And,
713
00:49:05.010 --> 00:49:09.885
and, you know, there's opportunities on the open source project to get some funding currently.
714
00:49:10.424 --> 00:49:15.005
So if you are interested in that and the background, you know, Rust or distributed system,
715
00:49:15.770 --> 00:49:19.070
cryptography, something like that, do reach out to me or Eric,
716
00:49:19.370 --> 00:49:27.595
or anyone else in Discord. And, yeah, the company we're hiring, we're looking for a Rust like a systems engineer, and then a mobile developer most of all. So we're good at mobile. If you're,
717
00:49:28.955 --> 00:49:30.520
you've been using Slutter so far,
718
00:49:31.480 --> 00:49:35.320
we we could switch to something else with the right person. If you're a real pro, please,
719
00:49:36.120 --> 00:49:37.180
please reach out.
720
00:49:40.235 --> 00:49:40.895
Yeah. I
721
00:49:41.195 --> 00:49:44.255
know. When can I launch my ICO on, Fedimint?
722
00:49:47.090 --> 00:49:51.030
Unlike Liquid, the goal of Fedimint isn't to put your coins on Bitcoin.
723
00:49:52.210 --> 00:49:56.470
Yeah. So I I think the the the the challenge that Liquid had
724
00:49:56.974 --> 00:49:59.714
was not making the the HSM
725
00:50:00.255 --> 00:50:02.595
or or really the the federation code,
726
00:50:03.305 --> 00:50:03.805
open
727
00:50:04.550 --> 00:50:06.890
so that, you know, they could immediately have,
728
00:50:07.590 --> 00:50:08.090
competitors,
729
00:50:09.030 --> 00:50:11.210
using the same protocol and grow the protocol?
730
00:50:12.665 --> 00:50:16.205
I mean, that's a key point. Right? And it's it's what you were talking about how,
731
00:50:16.825 --> 00:50:22.000
to have an open protocol, but then have a company building on top of that to try and monetize separately
732
00:50:22.460 --> 00:50:26.319
is completely different than having a company that has basically
733
00:50:26.755 --> 00:50:30.855
put itself in there as a as, like, a point of control or
734
00:50:31.635 --> 00:50:38.740
a, a friction point. To me, that's a beautiful model. Right? I mean, you know, in a way that's how, like, Linux happened. Linux happened
735
00:50:39.040 --> 00:50:40.660
way more than than,
736
00:50:42.080 --> 00:50:44.260
than, Unix did because there were
737
00:50:45.535 --> 00:50:47.234
companies trying to build
738
00:50:47.535 --> 00:50:51.315
solutions on top of Linux as a company. Right? So like Red Hat or whatever
739
00:50:53.360 --> 00:50:54.820
while the kernel was open.
740
00:50:55.120 --> 00:50:58.980
With FreeBSD and all the other tools, I mean, you had Apple building Darwin,
741
00:51:00.000 --> 00:51:02.500
which was really the only company that continued Darwin,
742
00:51:04.025 --> 00:51:04.425
And,
743
00:51:05.785 --> 00:51:12.940
they they tried to close down a little too much, so it became their only thing, but they are behemoth, so they could just maintain it themselves.
744
00:51:13.800 --> 00:51:17.820
FreeBSD on the other hand, I mean, it's way better than Linux. There's not even a comparison.
745
00:51:19.560 --> 00:51:20.060
But
746
00:51:21.855 --> 00:51:24.434
there's not as many companies that
747
00:51:24.815 --> 00:51:26.275
decided to build on top
748
00:51:26.815 --> 00:51:27.315
commercially,
749
00:51:28.750 --> 00:51:32.530
Except for now you're starting to see come back because you have pfSense
750
00:51:32.910 --> 00:51:34.050
that grew a lot.
751
00:51:35.150 --> 00:51:38.505
You know, real security stuff out there is all using,
752
00:51:38.984 --> 00:51:43.085
either netBSD, freeBSD, or or some other variation of it.
753
00:51:43.650 --> 00:51:48.230
But, yeah, this to me is the preferred model. You have the open protocol,
754
00:51:49.250 --> 00:51:51.910
ideally, an open implementation of the protocol,
755
00:51:53.085 --> 00:51:57.984
and then you have companies building their solutions on top of that protocol, either closed,
756
00:51:58.365 --> 00:52:03.730
viewable, or open, however they decide to do it. There's even a bigger difference here too where,
757
00:52:05.150 --> 00:52:07.730
I mean, I don't wanna speak for Justin too much, but
758
00:52:08.684 --> 00:52:09.345
of, like
759
00:52:10.444 --> 00:52:17.025
one of the key things is is FETI as a company doesn't intend to be a part of any federation, period.
760
00:52:17.410 --> 00:52:24.710
So it's not even like, oh, anyone can launch a competing federation. Fedi's just not even gonna be involved in the federation running process.
761
00:52:25.444 --> 00:52:27.464
Well, that's also hard to avoid jail.
762
00:52:27.765 --> 00:52:28.825
It's a great thing.
763
00:52:29.285 --> 00:52:29.785
Don't
764
00:52:30.085 --> 00:52:36.980
run the federations. Yeah. It's not completely altruistic. If you have a fad that interfere with the fad, it might be a problem.
765
00:52:37.359 --> 00:52:37.859
So,
766
00:52:39.280 --> 00:52:43.485
you you you definitely wanna be just a service provider, a technology provider as we like
767
00:52:45.645 --> 00:52:49.825
like to describe ourselves. I I think that's a that's a much more sound and sane,
768
00:52:50.285 --> 00:52:52.145
way of operating a business.
769
00:52:55.240 --> 00:53:02.380
If you're an expert mobile developer, please head over to Bitcoin or Jobs and apply for the FEDI mobile developer position. Thank you.
770
00:53:02.965 --> 00:53:03.465
Yes.
771
00:53:03.765 --> 00:53:06.585
But if you're a mobile developer engineer
772
00:53:07.365 --> 00:53:16.480
who is, who's a a great at Python and can build across application in Python, you should definitely hit, Quaintite because we we actually ship things.
773
00:53:19.505 --> 00:53:20.005
Yes.
774
00:53:21.265 --> 00:53:21.765
Alright.
775
00:53:22.545 --> 00:53:23.685
Next. Yeah. The Python,
776
00:53:24.305 --> 00:53:25.984
you go to MBK and then
777
00:53:26.705 --> 00:53:27.445
That's right.
778
00:53:27.950 --> 00:53:29.550
You you you can take those,
779
00:53:30.190 --> 00:53:31.970
those those guys of the other languages.
780
00:53:33.550 --> 00:53:35.810
Okay. I'll Yeah. We'll take the JavaScript.
781
00:53:38.195 --> 00:53:38.935
That's right.
782
00:53:40.515 --> 00:53:42.055
The c k top protocol
783
00:53:42.755 --> 00:53:46.535
got repeated here by Nunchuk. That's already been talked about.
784
00:53:47.539 --> 00:53:49.480
Tap Saturn is now shipping.
785
00:53:50.339 --> 00:53:51.160
It's $39.
786
00:53:52.420 --> 00:53:55.160
We'll probably decrease the price at some point,
787
00:53:55.975 --> 00:54:02.395
and Sats card shipping soon. So, go to the Koincard store and get your top signer. It works now. Yay.
788
00:54:05.120 --> 00:54:07.140
Sphinx Right now is VLS.
789
00:54:07.600 --> 00:54:09.940
Right now you can only use tap signer with,
790
00:54:10.880 --> 00:54:13.495
Nunchuck, or is there any other apps that support it?
791
00:54:14.455 --> 00:54:21.440
So there is a a few apps out there. They're sort of like not officially supporting yet, so I'm not gonna plug it in.
792
00:54:23.040 --> 00:54:24.819
Officially supporting is Nunchuk,
793
00:54:26.240 --> 00:54:30.255
and the guys from Hacksaw wallet, which is I think Keykeeper
794
00:54:30.715 --> 00:54:38.460
or something Keeper or something like that, they are releasing, I think, on their next release. Yeah. They're launching a separate they're launching a separate wallet.
795
00:54:39.000 --> 00:54:40.700
They're splitting up the 2 functions.
796
00:54:41.560 --> 00:54:42.300
That's right.
797
00:54:43.320 --> 00:54:45.275
TopSigner is essentially like a
798
00:54:46.234 --> 00:54:48.494
extremely simple Bitcoin hardware wallet.
799
00:54:49.515 --> 00:54:56.530
It but it works as a blind signer. So if you give anything to it, it'll just sign. What do you, what do you tell someone who
800
00:54:56.850 --> 00:54:58.550
you know, the status quo,
801
00:54:59.730 --> 00:55:01.270
for Bitcoin hardware
802
00:55:01.730 --> 00:55:06.855
signing devices has been to have a screen on the device so that you can confirm what it's signing
803
00:55:07.235 --> 00:55:13.640
directly on the device rather than the potentially compromised computer or phone. What do you say to someone in in that respect?
804
00:55:14.900 --> 00:55:18.920
I think it's just a different set of trade offs for a different value amount.
805
00:55:19.755 --> 00:55:23.135
So, you know, if you're gonna keep, you know, a couple grand on your phone,
806
00:55:23.595 --> 00:55:33.430
you know, use a tap signer. It's a lot safer than having trust on the app on the phone to have the private key. Right? And also if you lose your phone and somebody can get in for whatever reason,
807
00:55:33.730 --> 00:55:38.305
the private key is not there either. It's in your wallet and your tap signer. So you have that.
808
00:55:39.244 --> 00:55:42.464
And then Would you say it competes more with, like,
809
00:55:43.645 --> 00:55:51.380
a a mobile wallet rather than Yes. A cold card or something like that? I wouldn't say no. It doesn't compete with cold card at all.
810
00:55:52.240 --> 00:56:03.590
I I would say it's not a competition of the mobile the the mobile wallet is in addition to the mobile wallet. Right? Because you're still using the mobile wallet. You're just not trusting it with keys for a single SIG.
811
00:56:04.070 --> 00:56:09.130
So so there is like a monumental gain there in security. Right? Just by separating the
812
00:56:09.590 --> 00:56:11.210
the the transaction building device
813
00:56:11.830 --> 00:56:20.165
from the private key holding device. And remember, all phones are fully pound. Right? Like, a border agent can just extract everything from the phone.
814
00:56:22.860 --> 00:56:23.260
So,
815
00:56:23.740 --> 00:56:30.880
and then and then if you're gonna use it for large amounts of money, just use multisig. Right? If you're gonna do multisig with top signer, you're you're now, like,
816
00:56:31.395 --> 00:56:38.615
you know, back at that sort of high grade of security because you can use a different device to double check the transaction before you sign it.
817
00:56:39.210 --> 00:56:42.910
So So you could have, like, 2 phones with 2 tap signers,
818
00:56:43.290 --> 00:56:45.630
and then both phones would have to get pwned
819
00:56:46.170 --> 00:56:51.055
for you to have a place to go. It could be a it could be a separate phone with a softer
820
00:56:51.595 --> 00:56:53.215
key on that phone itself,
821
00:56:53.835 --> 00:56:56.335
and then the top signer on the other phone.
822
00:56:56.869 --> 00:57:00.250
It's already exponentially more secure than than not.
823
00:57:02.069 --> 00:57:05.210
So because for example, here's the 3 the the challenge. Right?
824
00:57:05.585 --> 00:57:08.404
Say you have 3 people using Nunchuck for collaborative
825
00:57:08.785 --> 00:57:09.285
multisig.
826
00:57:10.865 --> 00:57:12.244
The 3 of you are trusting
827
00:57:12.704 --> 00:57:14.404
Nunchuck with private keys.
828
00:57:14.820 --> 00:57:17.000
Same implementation of wallet, right?
829
00:57:17.620 --> 00:57:18.120
So
830
00:57:18.500 --> 00:57:21.160
at least, you know, if 1 or 2 of those
831
00:57:21.655 --> 00:57:24.795
of those signers are using an external key device,
832
00:57:25.335 --> 00:57:29.275
you're gaining a lot more security there, right, in case there's a bug or whatever.
833
00:57:30.220 --> 00:57:32.240
So so that's the idea. It's just
834
00:57:32.700 --> 00:57:36.400
it's just adding another layer and really removing the key from the phone,
835
00:57:38.244 --> 00:57:41.625
especially on an app that allows you to have encrypted comms.
836
00:57:41.925 --> 00:57:43.865
You don't you don't want that key there.
837
00:57:46.190 --> 00:57:52.530
So yeah. So that's that's the idea. I mean, you can use it in conjunction of a cold card for for multisig and stuff
838
00:57:52.835 --> 00:57:54.194
in the same idea. But,
839
00:57:55.474 --> 00:57:56.535
I think it's just
840
00:57:57.634 --> 00:57:59.734
right now, there is no economically
841
00:58:00.035 --> 00:58:02.295
viable solution to people who
842
00:58:03.300 --> 00:58:06.440
cannot afford a $100 plus device. Right?
843
00:58:06.820 --> 00:58:14.815
Because even even Ledger, once you put in the euro cost and the tax and the shipping and stuff, it's like it's still essentially a $100. Right?
844
00:58:16.474 --> 00:58:22.099
So if you are, you know, in a country where, you know, your economical capacity is lower, $39
845
00:58:22.640 --> 00:58:26.020
shipped by standard mail is pretty cheap.
846
00:58:26.880 --> 00:58:40.900
And we hope to to bring the price down more soon too. And and who knows, maybe we even find a way of subsidizing the cost in in countries that people can't afford it. Because again, right, it's like it's just a much simpler, cheaper form factor.
847
00:58:43.280 --> 00:58:53.195
So the economics of this are a lot better for people in in countries where they can't really afford the next level security because they also have less money. So there's less money to protect. Right?
848
00:58:53.495 --> 00:58:54.555
I mean, to combine
849
00:58:55.270 --> 00:58:55.930
to combine,
850
00:58:56.870 --> 00:58:59.290
the 2 topics we just had together,
851
00:59:00.230 --> 00:59:02.570
I mean, you can you could foresee in a world,
852
00:59:03.350 --> 00:59:03.850
where
853
00:59:05.174 --> 00:59:06.795
the the tap signer holds,
854
00:59:07.095 --> 00:59:10.555
a private key, public key pair. That's your backup for your Fedimint wallet.
855
00:59:10.855 --> 00:59:15.910
You use the Fedimint wallet, and then if your phone gets lost or stolen, you can just
856
00:59:16.369 --> 00:59:18.630
restore by tapping the tap signer on it.
857
00:59:19.089 --> 00:59:23.895
Yeah. I mean, you can use it. It's just a BitBoy message digest signing. Right? So it could be authentication,
858
00:59:25.795 --> 00:59:28.055
it could be just proof of presence really too,
859
00:59:28.355 --> 00:59:32.900
right? You can tap it and not even sort of like login login, right, with the pin and stuff,
860
00:59:33.299 --> 00:59:41.880
that's like that's already good enough for most cases, so if somebody finds your phone on top of a desk unlocked or whatever, they can't just go and spend your money, right?
861
00:59:43.395 --> 00:59:44.135
I think,
862
00:59:45.075 --> 00:59:45.575
you
863
00:59:45.875 --> 00:59:50.135
know, I am mister tinfoil hat when it comes to to real money in Bitcoin,
864
00:59:50.480 --> 00:59:59.675
but like as we as we expand the Bitcoin pie, right, then we start to include people who have less means and less technical capacity, right,
865
01:00:00.235 --> 01:00:02.415
I think we need solutions that have
866
01:00:03.355 --> 01:00:05.775
substantially different sets of trade offs
867
01:00:06.555 --> 01:00:08.975
for ideally an economical gain,
868
01:00:10.780 --> 01:00:12.960
in terms of being cheaper for them. Right?
869
01:00:13.500 --> 01:00:14.640
I think that's
870
01:00:14.940 --> 01:00:16.480
gonna be a game changer.
871
01:00:17.579 --> 01:00:19.119
And reality is in BRIC
872
01:00:19.565 --> 01:00:21.825
and and, economically below that,
873
01:00:22.525 --> 01:00:25.105
it's mobile first. Right? People don't have computers.
874
01:00:27.059 --> 01:00:32.200
They probably have better Internet on their phones than in Canada, but that's a different problem. Yeah. I mean, I I
875
01:00:32.579 --> 01:00:34.280
remember I'll always remember,
876
01:00:35.704 --> 01:00:38.164
I had a fantastic conversation on sale dispatch,
877
01:00:38.625 --> 01:00:41.605
with Waxwing and Belcher about Bitcoin privacy.
878
01:00:42.464 --> 01:00:42.944
And,
879
01:00:43.980 --> 01:00:52.400
I said to them I was like, have you guys considered joining market on a mobile phone? And waxwing just immediate responses, well, if you want privacy, you shouldn't use a mobile phone.
880
01:00:54.055 --> 01:01:02.795
And I was like That he's not wrong. Yeah. But, also, like, 6,000,000,000 people will probably be using Bitcoin using their mobile phone only. So,
881
01:01:03.560 --> 01:01:05.740
we probably should have tools for them. Like
882
01:01:06.040 --> 01:01:15.154
Yeah. But then what's the alternative? Right? They're gonna go and immediately docks all their keys with, one of the other CoinJoin wallets because they're not gonna be running their own node?
883
01:01:16.815 --> 01:01:17.634
It's complicated,
884
01:01:19.180 --> 01:01:24.240
And and the the privacy folk all seem to have a different opinion that is very divergent.
885
01:01:25.635 --> 01:01:30.055
I like the security people who all disagree, but seem to tend to go in the same direction.
886
01:01:30.355 --> 01:01:35.630
I think, I think that was a cheap shot for someone who's threatened to mute me if I talk about,
887
01:01:36.110 --> 01:01:36.610
CoinJoin
888
01:01:36.990 --> 01:01:38.370
or privacy. I'm muted.
889
01:01:38.910 --> 01:01:40.130
But, Kidding.
890
01:01:40.670 --> 01:01:42.530
But my point is is
891
01:01:43.005 --> 01:01:46.465
is just because a mobile phone does not offer perfection,
892
01:01:47.405 --> 01:01:49.265
from an engineer point of view,
893
01:01:49.724 --> 01:01:52.385
doesn't mean we shouldn't have tools that
894
01:01:53.609 --> 01:01:56.589
provide the best possible experience in terms of
895
01:01:57.210 --> 01:01:58.430
privacy and security,
896
01:01:59.505 --> 01:02:09.950
attainable on a mobile phone because that's the reality of the situation. The reality pragmatic way of looking at this is that the overwhelming majority of people are gonna be using Bitcoin on their mobile phones. So we need mobile first
897
01:02:10.250 --> 01:02:12.510
tools. The the Bitcoin on the phone, I agree.
898
01:02:12.890 --> 01:02:14.750
I just I just wish
899
01:02:15.690 --> 01:02:18.430
the the CoinJoin implementations on phones
900
01:02:19.194 --> 01:02:20.575
would find an alternative
901
01:02:20.875 --> 01:02:22.015
to doxing people's
902
01:02:22.714 --> 01:02:28.815
coins to their servers. That's that's all by default. The problem the main problem that I have is that default part.
903
01:02:30.060 --> 01:02:33.840
It's just it's just it's just something I personally cannot get over,
904
01:02:34.540 --> 01:02:42.305
but I I'm sure there is, like, a large enough market out there of people who who don't mind that that part. Well, I was Because it it's not
905
01:02:42.765 --> 01:02:48.065
you know, there there's like, the doxing is not like a full dock. I mean, you're doxing your coins to them,
906
01:02:48.710 --> 01:02:57.529
but, you know, if if you're using a VPN or whatever, at least you're getting another layer there. It's not like they know who you are. Well But still I mean well, first of all, the wallet in question
907
01:02:58.185 --> 01:02:59.965
has Tor enabled by default.
908
01:03:00.825 --> 01:03:02.605
So they do not know your IP address.
909
01:03:02.985 --> 01:03:05.244
The second thing is the first thing the wallet does
910
01:03:05.545 --> 01:03:16.599
is tell you that you should use your own node and gives you the steps to use your own node, which is just scanning a QR code, which is as simple as a process as ever gonna get to It won't go. Connect to your own node.
911
01:03:17.075 --> 01:03:17.815
And then,
912
01:03:18.195 --> 01:03:21.335
you know, most mobile wallets have this issue in general.
913
01:03:21.955 --> 01:03:33.740
One thing that people keep pointing out is why don't you use Neutrino? Why don't you use block filters for this? I haven't seen a single wallet that has been able to to do that in a performant way on mobile yet.
914
01:03:34.119 --> 01:03:36.059
It's much more doable on desktop.
915
01:03:37.495 --> 01:03:41.675
My understanding is Well, I I don't I don't disagree. I'm not it it it's
916
01:03:41.975 --> 01:03:53.710
that I I'm not trying to be, like, like pedantic about it. It it's more just like it's a set of trade off that that deeply bothers me, but it but I also understand there's challenges around it. It's not like,
917
01:03:54.235 --> 01:03:55.455
a I'm not trying
918
01:03:55.915 --> 01:03:56.735
cheap shot
919
01:03:57.275 --> 01:03:58.335
on on on SadWallet
920
01:03:58.795 --> 01:04:02.960
aside from their wonderful, wonderful personality online. I mean, I like
921
01:04:03.280 --> 01:04:08.900
my my happy place in the Bitcoin world is to have as many people angry at me as possible.
922
01:04:10.615 --> 01:04:13.435
So right now, my current situation is,
923
01:04:14.615 --> 01:04:15.355
I think,
924
01:04:16.055 --> 01:04:17.835
that the trade offs that
925
01:04:19.800 --> 01:04:23.260
samurai has chosen has has has positive benefits,
926
01:04:24.119 --> 01:04:27.180
and that it is a it is a trade off model with trade offs.
927
01:04:27.725 --> 01:04:32.065
And I also think that, you know, the trade offs that Fediments are making,
928
01:04:32.845 --> 01:04:34.705
are very compelling trade off balance.
929
01:04:35.165 --> 01:04:36.705
And it turns out that
930
01:04:37.760 --> 01:04:43.859
a lot of the people that don't like me for or are concerned about me thinking that the trade offs of samurai
931
01:04:44.240 --> 01:04:44.980
are compelling,
932
01:04:46.835 --> 01:04:52.455
Think the trade offs of Fediments are compelling, and then the people on the opposite side think I'm ridiculous for
933
01:04:52.835 --> 01:04:57.500
liking the trade offs that Fediments are making. So I'm I've been pissing off people on both sides,
934
01:04:58.040 --> 01:05:01.420
which is exactly where I like it, but the one thing I will leave it at is,
935
01:05:02.440 --> 01:05:05.800
you know, building on Bitcoin is permissionless. It is an open network,
936
01:05:06.744 --> 01:05:12.925
and I hope to see a world where there's so many different Bitcoin options that have various different trade off methods,
937
01:05:13.600 --> 01:05:27.335
trade off balances, and, you know, not everyone's gonna be happy with them. Like people are gonna be upset about different trade offs and that's their prerogative. They can choose the tools they wanna use. As long as the trade offs are clear. It it gets to a scammy territory. It gets to a bullshit territory
938
01:05:27.635 --> 01:05:29.975
if the trade offs aren't made clear to the end user.
939
01:05:31.160 --> 01:05:42.415
Yeah. I I I I think, you know, more options, the better. I I don't I don't disagree with that. I think that's a it's a good way of moving on from coin join up points. You made some great points there.
940
01:05:44.635 --> 01:05:48.175
And it must be must be fun to to be you and that's is Matt.
941
01:05:51.430 --> 01:05:51.930
Alright.
942
01:05:53.670 --> 01:05:55.369
We are moving on to
943
01:05:55.670 --> 01:06:01.355
the Sphinx analysis GLS. 2 weeks in a row. Yeah. That's right. VLS signing device.
944
01:06:01.975 --> 01:06:05.915
The same announced hardware signing device interfacing with validating
945
01:06:06.455 --> 01:06:07.595
lightning signer.
946
01:06:08.070 --> 01:06:10.070
I am not super familiar with VLS.
947
01:06:10.710 --> 01:06:12.250
Do you guys have some VLS,
948
01:06:13.990 --> 01:06:15.370
points? No? No?
949
01:06:18.645 --> 01:06:22.585
I mean, I have some experience with this. Like, I so the first thing I ever did in
950
01:06:23.180 --> 01:06:33.715
went to a hackathon. We built, we built the lightning hardware wallet. So we just took an Arduino and stuck a private key on there. It took it took, like, one file off of c lightning. It would do the signing and stuck it on the Arduino hard
951
01:06:34.575 --> 01:06:35.235
or wallet.
952
01:06:39.110 --> 01:06:41.270
Yeah. So it's it's it's something I had
953
01:06:41.830 --> 01:06:44.330
for a while. And, so this, lightning verifying
954
01:06:44.710 --> 01:06:47.690
signer project or validating lightning signer project
955
01:06:48.165 --> 01:06:54.265
is is supposed to be able to, like, basically make a lightning hardware wallet. And it's it's an interesting thing to see discussions around it because
956
01:06:57.210 --> 01:07:05.930
from what I've seen, like, they have to take tons of logic and put it on the device itself to actually make it work. Yep. So I still wonder if it's gonna work because that it sounds,
957
01:07:08.795 --> 01:07:12.095
and it's almost like you damn near half of the node running
958
01:07:12.635 --> 01:07:14.335
this thing. It seems like
959
01:07:15.680 --> 01:07:16.180
sometimes,
960
01:07:18.480 --> 01:07:23.680
in order to actually thinks thinks that it's gonna work, and they seem to be, you know, lightning experts. So,
961
01:07:24.545 --> 01:07:26.405
excited to actually play with it. Looks like
962
01:07:26.945 --> 01:07:29.445
they'll ship point view of your company.
963
01:07:30.305 --> 01:07:34.599
Little note at the bottom. So anybody's interested, you know, try it out. Let us know how it
964
01:07:35.059 --> 01:07:36.119
goes. Very cool.
965
01:07:36.900 --> 01:07:41.400
Sorry, guys. I turned off all the cameras so that maybe the connection for Justin gets a little better.
966
01:07:44.055 --> 01:07:44.555
So
967
01:07:45.015 --> 01:07:45.915
so VLS
968
01:07:46.375 --> 01:07:49.115
then sounds to me similar to
969
01:07:49.710 --> 01:07:55.549
parts of what LDK wants to do, where he wants to to also be the policy HSM.
970
01:07:57.285 --> 01:07:58.265
I had a conversation
971
01:07:58.725 --> 01:07:59.545
with Steve,
972
01:08:00.565 --> 01:08:00.965
and,
973
01:08:01.365 --> 01:08:07.680
they they were interested in maybe getting LDK into a Java card or something like that at some point.
974
01:08:08.380 --> 01:08:10.640
I I don't know what the status of this is,
975
01:08:11.100 --> 01:08:15.120
but, it's, it's major work to get something like this written,
976
01:08:15.420 --> 01:08:23.344
for hardware in a secure proper way, especially if the hardware is hot. Not a not an easy problem, but it's a problem that needs to be solved.
977
01:08:24.639 --> 01:08:30.980
So props to them. Yeah. I think they're kinda companion projects. They're they're trying to work together.
978
01:08:32.320 --> 01:08:32.820
Cool.
979
01:08:34.235 --> 01:08:35.275
That, that's,
980
01:08:35.755 --> 01:08:36.895
yeah. I I mean,
981
01:08:37.275 --> 01:08:45.389
this this is a hard problem, so it's nice to to know that they're trying to sort of coordinate with more people, especially people who have some harder experience as well.
982
01:08:47.290 --> 01:08:52.805
All right, Border Wallet. I saw this project the other day. I think I was listening to the Legacy
983
01:08:53.585 --> 01:08:55.845
Weekly podcast about the news,
984
01:08:58.380 --> 01:08:58.860
and,
985
01:08:59.420 --> 01:09:01.360
it's a it's a very cool one.
986
01:09:02.700 --> 01:09:06.400
It's a way for people to to memorize their their seeds.
987
01:09:07.165 --> 01:09:14.385
If you want to go ahead. If you wanna listen to that podcast you just mentioned, search rabbit hole recap in your favorite podcast app and click subscribe.
988
01:09:15.490 --> 01:09:17.250
For for the people that don't know,
989
01:09:17.730 --> 01:09:21.510
I'm just trying to create some drama here, but, Matt actually releases,
990
01:09:22.050 --> 01:09:31.265
this podcast on on, on his syndication. Yeah. So Border Wallets On the yeah. Border Wallets is a very cool project.
991
01:09:31.645 --> 01:09:34.429
MBK is a little bit salty about it because it obsoletes,
992
01:09:35.050 --> 01:09:37.469
sticking an open dime up your nature's pocket.
993
01:09:38.650 --> 01:09:49.265
But, one of the It's not either or, Matt. It's not either or. 1 of the You can still choose to do it. One of the lead maintainers. Put a cold number in your pocket if you want to. Don't do that.
994
01:09:49.825 --> 01:09:51.205
Not not health advice.
995
01:09:53.440 --> 01:09:58.420
The the the the one of the guys behind this is also one of the guys, Superfat Arrow,
996
01:09:59.199 --> 01:10:00.695
with a pH, superfatarrow,
997
01:10:01.395 --> 01:10:10.010
is one of the guys behind that seed tool we're talking about. And, basically, the general premise is, okay, how can we make it as easy as possible for you to generate a
998
01:10:10.809 --> 01:10:21.305
a seed on a regular computer and, memorize it for a short period of time if you're crossing a hostile border and you're and you're concerned about carrying hardware across? So it shouldn't be used as,
999
01:10:22.165 --> 01:10:23.864
your standard savings
1000
01:10:24.245 --> 01:10:31.700
method or, I mean, memorizing things is always dangerous. I've lost so many passwords that I thought I had memorized until I didn't.
1001
01:10:32.720 --> 01:10:40.245
But if you're crossing a hostile border specifically and you're afraid that they're gonna confiscate any hardware you have on you, this could be a compelling option.
1002
01:10:41.105 --> 01:10:43.265
Yeah. The he was telling me on Twitter that,
1003
01:10:44.225 --> 01:10:48.710
he got, he got some, some inspiration from the the CDX
1004
01:10:49.130 --> 01:10:49.630
or,
1005
01:10:50.690 --> 01:10:51.510
like, table.
1006
01:10:51.969 --> 01:10:53.989
Right? So for you to reconstitute
1007
01:10:54.450 --> 01:11:02.565
CDX or, we have a PDF so you can redo the CDXOR by hand with a little table and pen and pencil, essentially.
1008
01:11:03.250 --> 01:11:07.190
So he was telling me that that he took some, some inspiration from that,
1009
01:11:08.210 --> 01:11:09.750
which is kinda cool.
1010
01:11:10.530 --> 01:11:11.510
I think that
1011
01:11:12.345 --> 01:11:13.245
old school
1012
01:11:13.864 --> 01:11:15.805
ways of handling cryptography
1013
01:11:16.185 --> 01:11:18.364
related topics by hand
1014
01:11:18.745 --> 01:11:20.045
are greatly underappreciated.
1015
01:11:22.139 --> 01:11:24.480
You know, let's let's not we forget that,
1016
01:11:25.340 --> 01:11:27.040
one time pad still
1017
01:11:27.420 --> 01:11:28.080
the most
1018
01:11:28.985 --> 01:11:35.324
the the the most hardcore way of encrypting something and also one of the simplest ways of encrypting something.
1019
01:11:37.470 --> 01:11:39.810
Justin, how about that one time pad app?
1020
01:11:45.445 --> 01:11:46.744
Don't know what you speak of.
1021
01:11:49.525 --> 01:11:50.025
Alright.
1022
01:11:52.005 --> 01:11:54.390
Now we go to Keith, p2pcomsbybitfinexintether,
1023
01:11:58.770 --> 01:11:59.990
which I think I misspelled.
1024
01:12:01.010 --> 01:12:02.230
This seems promising,
1025
01:12:02.965 --> 01:12:03.945
it's nice.
1026
01:12:04.485 --> 01:12:06.824
The quality of the video seems to be great,
1027
01:12:07.205 --> 01:12:14.380
and it seems to be something that might catch on. I don't know, The All this p two p solution seem to
1028
01:12:15.000 --> 01:12:15.500
to,
1029
01:12:16.040 --> 01:12:19.659
to fizzle away and not get a lot of traffic eventually. But The
1030
01:12:20.165 --> 01:12:22.905
the video quality is only limited by their peers,
1031
01:12:23.284 --> 01:12:24.344
individual bandwidth,
1032
01:12:25.445 --> 01:12:39.275
obviously, because you're connecting directly to each other without a centralized server. I would agree that with MBK that it's a compelling project. One thing to keep in mind is as it's currently set up, you are doxing your IP address to any participants in the video chat,
1033
01:12:40.055 --> 01:12:45.355
which can give away your your general location or with a sophisticated actor, more,
1034
01:12:46.370 --> 01:12:49.110
more precise location and browsing activity. So,
1035
01:12:49.650 --> 01:12:55.350
consider using it with a VPN, if you're gonna use it. I assume if you use it with Tor, it would just be complete garbage. So,
1036
01:12:56.195 --> 01:12:59.255
a VPN it is if you want to protect that IP address.
1037
01:13:00.435 --> 01:13:02.835
Yeah. It's, you know, as it reminds me,
1038
01:13:03.330 --> 01:13:11.990
Skype used to be like that until Microsoft bought them and created backdoors and centralized services. Yeah. That was part of the government conspiracy to get into our Skype calls.
1039
01:13:12.705 --> 01:13:26.490
Yeah. There's absolutely no way that that's true. Right? Microsoft buys it, makes it completely useless. Oh, yeah. I mean, I don't mean I don't mean conspiracy as in unlikely. Like, it a 100% was the reason it happened. Oh, I know. I know. I'm just yeah.
1040
01:13:27.195 --> 01:13:37.780
But, yeah, Skype had that Skype had that, like, what, like, 10 years ago? And then we everything moved over to a centralized model so we could surveil everything. And now we're finally going back to the basics.
1041
01:13:38.400 --> 01:13:40.340
Impervious is gonna have something similar
1042
01:13:40.800 --> 01:13:41.460
out soon.
1043
01:13:42.395 --> 01:13:46.735
I'm sure a bunch of them are kicking themselves because they've been advertising Zoom without Zoom,
1044
01:13:47.435 --> 01:13:49.900
for months now, and it seems that,
1045
01:13:50.300 --> 01:13:52.960
Keith beat them to the punch by maybe a couple weeks.
1046
01:13:53.860 --> 01:13:54.360
But,
1047
01:13:56.140 --> 01:13:57.520
what's interesting about
1048
01:13:57.935 --> 01:14:01.795
Impervious' model is Impervious' model is gonna be directly integrated,
1049
01:14:02.494 --> 01:14:04.034
with decentralized identifiers,
1050
01:14:05.614 --> 01:14:06.994
which I think could be
1051
01:14:07.550 --> 01:14:08.290
pretty cool,
1052
01:14:08.989 --> 01:14:10.690
in terms of doing file transfer,
1053
01:14:11.150 --> 01:14:14.930
encrypted chat, and encrypted video all at the same time.
1054
01:14:16.165 --> 01:14:24.585
What I found very cool about this, this Keith project is that, like, you know, the people behind it have some very, very, very deep pockets.
1055
01:14:24.920 --> 01:14:25.420
Right?
1056
01:14:26.120 --> 01:14:30.700
I mean, we're talking about Tether and Bitfinax. I mean, they're extremely capitalized entities,
1057
01:14:31.800 --> 01:14:32.300
who
1058
01:14:32.665 --> 01:14:40.445
have very little incentive is in building something like this. So I imagine that things are changing. Right? These are companies that probably see
1059
01:14:41.490 --> 01:14:45.670
harm in having doing their everyday business through the standard comms,
1060
01:14:46.050 --> 01:14:52.845
and they're probably investing heavily in having their own comms developed in an open way so that they can't be easily,
1061
01:14:53.545 --> 01:15:01.530
co opted. But, I think we'll see a lot more of that. I mean, this is it's not like a like Tether is on the right side of the US,
1062
01:15:02.550 --> 01:15:03.210
the US,
1063
01:15:03.590 --> 01:15:04.090
cheek.
1064
01:15:05.270 --> 01:15:08.455
This is something that we've been talking about in Bitcoin land for a while,
1065
01:15:08.855 --> 01:15:11.115
which is just this idea that ideologically
1066
01:15:11.735 --> 01:15:12.235
aligned,
1067
01:15:13.495 --> 01:15:17.150
freedom oriented individuals and corporations will get so
1068
01:15:17.630 --> 01:15:19.330
so wealthy and so profitable
1069
01:15:19.710 --> 01:15:28.405
that they'll do things, for the greater good that aren't don't necessarily have financial gain. And, I mean, in this case, the incentive seem to be that
1070
01:15:28.865 --> 01:15:31.525
that Tether and Finnex and the guys behind it,
1071
01:15:31.985 --> 01:15:36.760
want this tool for themselves. Right? So why not open source it and provide it to everyone else,
1072
01:15:37.219 --> 01:15:40.360
without direct monetization on this specific project?
1073
01:15:41.380 --> 01:15:42.440
I mean, it'll
1074
01:15:43.095 --> 01:15:45.675
say for example, you're talking like your Bitfinnex.
1075
01:15:46.135 --> 01:15:51.770
Right? And you're talking to your securities lawyers. Right? You can't trust
1076
01:15:52.150 --> 01:15:58.410
that, you know, people that shouldn't have access to that call say the other side, right, of the litigation
1077
01:15:58.955 --> 01:16:01.535
is not listening to you talking to your lawyers,
1078
01:16:03.355 --> 01:16:06.895
which is a perfectly legal application of something, right?
1079
01:16:07.290 --> 01:16:16.190
We don't even need to go into the the weeds with like what is right and what's wrong, but like this is something that the state deems legal, right, for you to have the client attorney privilege.
1080
01:16:16.755 --> 01:16:17.255
So,
1081
01:16:19.235 --> 01:16:21.735
it's just it's just really, really nice
1082
01:16:22.835 --> 01:16:25.335
to be able to have your own comms that you trust
1083
01:16:25.760 --> 01:16:27.940
to do standard legal business.
1084
01:16:29.120 --> 01:16:34.020
I think I think in the future, we're gonna see a lot more of that because we all know that all the comms are compromised.
1085
01:16:36.945 --> 01:16:41.765
Alright. So Justin, I think that Yeah. I tried this thing. Yep. I tried this thing the first day.
1086
01:16:42.920 --> 01:16:51.580
Yeah. I tried this thing the first day it came out, and, I was really impressed by the audio and the video quality. Like, it was it was, like it felt as, like, better than Zoom, honestly.
1087
01:16:52.355 --> 01:16:53.335
I was pretty impressed.
1088
01:16:53.954 --> 01:16:56.855
And, so far, it's not open source. So far,
1089
01:16:58.114 --> 01:17:04.070
and and I don't I don't think the app is open source. And there's a a protocol underneath it called Hole Punch, which they've been sort of advertising.
1090
01:17:04.770 --> 01:17:27.090
I think this is how they get over, like, the natural resource issues. There's, like, some relay servers involved or something like that. They're not relay servers, but there's some there's this is how they just get around having relay servers, I think. And I said they didn't open source it, but they're going to by the end of the year. And their excuse was that they didn't want some shitcoiners coming in and throwing a token on top of it. So hopefully That's a perfectly reasonable thing to do. There will be more apps
1091
01:17:27.585 --> 01:17:33.844
on top of it. Yeah. I mean, as you all know, when you release your cold open, you will get
1092
01:17:34.145 --> 01:17:35.364
scammers and cloners
1093
01:17:35.710 --> 01:17:41.090
taking all your code and then trying to spin up another company on top of it. Right? We all know how this works.
1094
01:17:45.065 --> 01:17:46.925
I'm not sure what you're referring to.
1095
01:17:50.905 --> 01:17:51.965
Oh, by the way,
1096
01:17:52.740 --> 01:17:55.000
like a quick review on the Cloners project.
1097
01:17:55.380 --> 01:17:59.720
It seems that they greatly increased weaknesses on the cold as they continue
1098
01:18:00.745 --> 01:18:04.125
between quotes innovating on that cold base. Fascinating.
1099
01:18:05.625 --> 01:18:07.245
But anyways, moving on.
1100
01:18:08.350 --> 01:18:12.130
Justin, you have submitted this story for us here.
1101
01:18:12.430 --> 01:18:13.250
James O'Byrne
1102
01:18:13.630 --> 01:18:14.850
summarizing mempoolresearch.
1103
01:18:16.675 --> 01:18:17.455
To mempool.work.
1104
01:18:18.955 --> 01:18:21.215
Very curious about, about this.
1105
01:18:25.090 --> 01:18:37.575
Yeah. So it's, I guess it's a little off topic. This is, not really a product. But, James has been doing some research on the mempool. There's there's, like, only a handful of people that really understand the Bitcoin mempool even though we all use it.
1106
01:18:38.435 --> 01:18:42.375
And, it's it's kind of a sensitive issue for a lot of these second layer application
1107
01:18:43.220 --> 01:18:49.000
things like, or protocols like like Lightning. You know, you don't wanna get into scenarios where you can't,
1108
01:18:49.540 --> 01:18:53.835
publish your justice transaction, or it gets delayed, or, like, you just lock funds up.
1109
01:18:54.375 --> 01:19:00.930
And so there's on the mailing list for last year, you know, there's more and more proposals, and a lot of them just get kinda more more complicated.
1110
01:19:01.630 --> 01:19:01.950
And,
1111
01:19:02.510 --> 01:19:08.290
I think one of James's so James sort of mempool.work on his GitHub. Just search James ob mempool.work.
1112
01:19:08.705 --> 01:19:10.705
He's gonna make a website out of it eventually. But,
1113
01:19:11.425 --> 01:19:13.205
he's he's trying to, like, kinda summarize
1114
01:19:13.825 --> 01:19:24.060
the state of the art. So if you're if you've heard of some of this but would like just a summary, it's, he does a great job of it. And he he's kinda has, like, an interesting point of view that some of these problems might be kind of intractable.
1115
01:19:24.745 --> 01:19:29.965
And, one of the big risks is that if if if the validation logic in full notes gets too complex,
1116
01:19:30.425 --> 01:19:38.580
maybe miners just say, like, screw it. Just, like, give give, give us transactions directly. And then all of a sudden, you can't really do fee estimation anymore,
1117
01:19:39.145 --> 01:19:47.085
because your mempool and the miner's mempool aren't don't resemble each other. So that's kind of like a a risk that's on the horizon that he's kinda Oh, that's always
1118
01:19:47.690 --> 01:19:57.525
interesting stuff. That's always kinda happened. Right? I mean, there's plenty of entities out there that submit their own transactions to the miners. Right, with, like, some some sort of off chain,
1119
01:20:00.065 --> 01:20:03.205
agreements. Let's put it this way. And it's only gonna
1120
01:20:03.890 --> 01:20:12.470
Seems kinda unavoidable if we if we hit a sustained high fee market where where mempools are packed, filled with transactions. It seems almost unavoidable.
1121
01:20:14.195 --> 01:20:16.135
I my my suspicion
1122
01:20:16.515 --> 01:20:17.015
is
1123
01:20:17.554 --> 01:20:20.695
the so let me call it intuition. My intuition is
1124
01:20:21.315 --> 01:20:21.815
that
1125
01:20:22.659 --> 01:20:26.199
I don't think we'll ever see a saturated
1126
01:20:26.500 --> 01:20:28.199
free market as we saw
1127
01:20:28.659 --> 01:20:29.400
way back,
1128
01:20:29.780 --> 01:20:30.920
on the block wars,
1129
01:20:31.785 --> 01:20:32.285
because,
1130
01:20:33.145 --> 01:20:33.965
back then,
1131
01:20:35.465 --> 01:20:38.205
the biggest actors were miss were misusing,
1132
01:20:39.305 --> 01:20:40.445
or or miss,
1133
01:20:41.640 --> 01:20:42.220
or ignorantly,
1134
01:20:43.080 --> 01:20:43.580
incompetently
1135
01:20:44.520 --> 01:20:45.740
managing their UTXOs,
1136
01:20:46.280 --> 01:20:47.900
really mainly talk about Coinbase,
1137
01:20:50.015 --> 01:20:54.034
and, to their own detriment. There is the incentive is the opposite,
1138
01:20:55.455 --> 01:21:02.100
and then we had other actors trying to make a bigger problem out of that by sandbagging the mempool even further,
1139
01:21:03.200 --> 01:21:07.495
at their own detrimental, economic detriment as well. They're all lost.
1140
01:21:08.995 --> 01:21:12.614
So I think going forward, people will treat the Bamboo with more respect.
1141
01:21:13.315 --> 01:21:16.349
The block size did essentially double since then,
1142
01:21:18.570 --> 01:21:23.070
and and now we have layer twos, right? Remember, lightning was not around back then,
1143
01:21:26.005 --> 01:21:28.665
and and it I mean, if you look at the lightning
1144
01:21:29.125 --> 01:21:30.425
volume of transactions,
1145
01:21:32.179 --> 01:21:33.320
you can really see
1146
01:21:34.579 --> 01:21:35.880
or at least extrapolate
1147
01:21:37.059 --> 01:21:48.105
how much impact they would have these mempools. I mean, you would probably have made the mempool now full. MBK. If you were trying to make what When is, the CoinKite store gonna accept lightning payments?
1148
01:21:50.460 --> 01:21:51.920
First, we need to do back 32.
1149
01:21:55.545 --> 01:21:57.244
So what? Like, 2 months?
1150
01:22:00.185 --> 01:22:01.804
Yeah. I don't know.
1151
01:22:03.580 --> 01:22:08.560
I think I think it's important for some nodes out there who are economically,
1152
01:22:09.900 --> 01:22:10.400
viable
1153
01:22:11.085 --> 01:22:12.305
to be using
1154
01:22:12.925 --> 01:22:15.745
old node software that is very restrictive,
1155
01:22:16.845 --> 01:22:22.130
I think it helps defend the network. We want many many nodes out there that are
1156
01:22:23.310 --> 01:22:25.410
using very restrictive old
1157
01:22:26.030 --> 01:22:26.530
stuff.
1158
01:22:27.684 --> 01:22:28.664
I think it
1159
01:22:29.684 --> 01:22:32.025
shows the network you cannot deprecate things,
1160
01:22:33.684 --> 01:22:34.905
and also we're lazy
1161
01:22:35.210 --> 01:22:40.510
and don't wanna put in the time to, change the store. Would you would you agree with me that,
1162
01:22:42.845 --> 01:22:47.665
probably you don't integrate Lightning unless there's a sustained high fee market that pushes your hand?
1163
01:22:49.565 --> 01:22:51.665
Yes. It's it's very, very unlikely,
1164
01:22:52.030 --> 01:22:53.170
and I'll explain why.
1165
01:22:53.950 --> 01:22:59.250
You know, we're we're not selling, like, you know, $5 things or $1 things. Right?
1166
01:22:59.710 --> 01:23:00.765
We have, like,
1167
01:23:01.245 --> 01:23:03.185
invoices that average between
1168
01:23:03.485 --> 01:23:04.705
500 to a $1,000
1169
01:23:05.325 --> 01:23:08.705
and to be an inbound receiver of all that,
1170
01:23:09.860 --> 01:23:11.000
it will get tricky.
1171
01:23:11.460 --> 01:23:14.120
And we don't wanna be sort of babying,
1172
01:23:15.220 --> 01:23:20.515
that and maintaining all that or paying a third party to provide us liquidity. Right?
1173
01:23:20.895 --> 01:23:22.835
When I can still provide that one
1174
01:23:23.695 --> 01:23:24.915
legacy address
1175
01:23:25.375 --> 01:23:30.190
and people can pay for it. But you're kinda entering that range with the Sats card and the TapCigner, though.
1176
01:23:32.970 --> 01:23:33.470
Yeah.
1177
01:23:34.570 --> 01:23:35.070
Yeah.
1178
01:23:35.505 --> 01:23:38.565
But but realistically speaking, knowing my customers,
1179
01:23:40.545 --> 01:23:46.650
I think they're all gonna just buy a pile of Sats cards cause they're gonna want different colors and different things.
1180
01:23:47.350 --> 01:23:48.970
So I I doubt,
1181
01:23:49.830 --> 01:23:50.330
maybe,
1182
01:23:52.395 --> 01:23:59.055
maybe we could at some point come up with a separate solution that just handles the cards for single card orders,
1183
01:23:59.595 --> 01:24:02.830
right? So there's like a blended system there somehow.
1184
01:24:04.010 --> 01:24:06.590
Another thing people can do is they can go right now,
1185
01:24:07.450 --> 01:24:12.655
and buy CoinKite gift cards with lightning in one of the 10 platforms that do
1186
01:24:13.034 --> 01:24:14.155
it, and then just,
1187
01:24:14.715 --> 01:24:23.800
go with the discounted gift card and buy on the CoinKite store. That's true. That also works. I mean, do you see the do you see the hypocrisy a little bit, though, that yours
1188
01:24:24.679 --> 01:24:34.515
that you don't think we're gonna have a sustained high fee market like we saw previously because services are integrating lightning, but meanwhile, CoinKite has credit cards integrated, but not lightning?
1189
01:24:35.850 --> 01:24:40.350
Yeah. So I don't see that as a hypocrisy. I see it as the opposite. The incentives
1190
01:24:41.770 --> 01:24:42.270
and
1191
01:24:43.125 --> 01:24:43.945
and the economic
1192
01:24:44.485 --> 01:24:46.985
sort of size model of our transactions
1193
01:24:47.684 --> 01:24:48.585
does not require
1194
01:24:49.204 --> 01:24:53.350
it, right? But when you have people trying to do, you know, like,
1195
01:24:54.230 --> 01:24:55.050
set streaming
1196
01:24:55.590 --> 01:24:56.090
or,
1197
01:24:56.950 --> 01:24:58.170
buying porn subscription
1198
01:24:58.870 --> 01:24:59.370
or,
1199
01:25:00.230 --> 01:25:01.290
feeding chickens
1200
01:25:02.514 --> 01:25:03.014
or,
1201
01:25:03.635 --> 01:25:04.855
in game stuff,
1202
01:25:05.395 --> 01:25:11.730
that that makes complete sense for lightning, and those transactions that have been economically stupid to be on main chain.
1203
01:25:12.610 --> 01:25:15.590
Right? You don't want that stuff to be on base layer
1204
01:25:16.850 --> 01:25:17.350
because
1205
01:25:17.890 --> 01:25:19.350
those transactions are economically
1206
01:25:20.035 --> 01:25:20.855
nearly irrelevant,
1207
01:25:21.875 --> 01:25:23.495
like, versus block size.
1208
01:25:23.875 --> 01:25:25.015
While our transactions
1209
01:25:25.635 --> 01:25:28.775
are not, not at, say, the next few years,
1210
01:25:29.220 --> 01:25:30.520
you know, eventually,
1211
01:25:31.300 --> 01:25:40.405
everybody's gonna have to be on lightning. But then by that time, I don't think we're gonna have the same issues with liquidity issues on Lightning for transactions of our size.
1212
01:25:41.025 --> 01:25:45.845
Yeah. That makes sense to me. I was just playing devil's advocate. I like the idea of the gift cards as
1213
01:25:47.239 --> 01:25:47.900
a stopgap.
1214
01:25:49.159 --> 01:25:50.060
It's a stablecoin.
1215
01:25:54.565 --> 01:26:00.905
Yeah. No. I I find it it's like you know, especially with all the the the the FUD about the
1216
01:26:01.205 --> 01:26:02.824
the the block reward,
1217
01:26:04.010 --> 01:26:05.710
I find the the conversations
1218
01:26:06.010 --> 01:26:06.910
and the economics
1219
01:26:07.370 --> 01:26:07.870
of,
1220
01:26:09.050 --> 01:26:10.270
the block space
1221
01:26:11.145 --> 01:26:11.645
and,
1222
01:26:12.505 --> 01:26:13.005
Equine's
1223
01:26:14.025 --> 01:26:15.005
supply cap
1224
01:26:15.465 --> 01:26:16.525
to be very,
1225
01:26:19.900 --> 01:26:24.239
like, a lot of fun. Like, these are my preferred things to argue about,
1226
01:26:24.540 --> 01:26:32.725
in Bitcoin. I think they're valid things to talk about, and they're very interesting because they're also very novel. Right? The the Fiat system
1227
01:26:33.425 --> 01:26:35.525
has never had to encounter these issues.
1228
01:26:36.320 --> 01:26:39.540
They have their own sets of of trade offs. So,
1229
01:26:40.480 --> 01:26:45.995
there's a lot to be talked about and tried to figure out so that people can prepare their businesses to to continue.
1230
01:26:51.895 --> 01:26:52.395
Alright.
1231
01:26:54.699 --> 01:26:57.360
Bitcoin core updates from Bitcoin OpTech.
1232
01:26:59.580 --> 01:27:01.360
The Bitcoin core is adding,
1233
01:27:01.739 --> 01:27:04.145
watch only support for output descriptors,
1234
01:27:05.805 --> 01:27:07.105
retaining mini script.
1235
01:27:07.405 --> 01:27:09.665
That's interesting mini scripts are getting used.
1236
01:27:11.850 --> 01:27:12.350
And,
1237
01:27:13.130 --> 01:27:14.830
we can get into details of that,
1238
01:27:15.210 --> 01:27:17.230
and also they are
1239
01:27:18.010 --> 01:27:19.230
updating their GUI
1240
01:27:20.155 --> 01:27:21.855
to be able to restore a backup.
1241
01:27:23.514 --> 01:27:27.880
Before you had to use the CLI, but now you're gonna be able to use the GUI. So so that's
1242
01:27:28.180 --> 01:27:30.360
nice. Two little updates to Bitcoin core.
1243
01:27:32.980 --> 01:27:35.239
Do you guys have any opinions about that?
1244
01:27:40.005 --> 01:27:42.744
It'd be interesting to see if people actually use the mini script stuff.
1245
01:27:44.005 --> 01:27:48.770
It's it's like a powerful tool both for, like, composing a script, but also if you,
1246
01:27:50.590 --> 01:27:52.645
yeah, like, also interpreting a script.
1247
01:27:53.605 --> 01:27:54.985
So I I just wonder
1248
01:27:55.365 --> 01:27:59.305
what like like, taking a script and figuring out, like, what the spending conditions are there.
1249
01:27:59.685 --> 01:28:00.745
Like, I wonder if,
1250
01:28:01.140 --> 01:28:06.360
yeah, I wonder if people actually use this. Because, like, you know, BDK has been doing a lot of mini script stuff, and,
1251
01:28:06.980 --> 01:28:15.744
like, I'm not sure how much how many, like, exotic use cases have been drummed up yet. Like, not really aware of any exotic use cases yet, that that
1252
01:28:18.770 --> 01:28:22.070
like, that's basically what people use it for right now. Like, mini script is like
1253
01:28:23.170 --> 01:28:24.470
a extension of descriptors,
1254
01:28:25.570 --> 01:28:26.630
and it's mostly
1255
01:28:26.930 --> 01:28:30.525
used as a backup format right now, which is useful, but it's not,
1256
01:28:30.985 --> 01:28:37.910
it's it wasn't the, like, the original intention. The original intention was to be able to produce wallets that had more,
1257
01:28:38.630 --> 01:28:40.250
more complex spending conditions.
1258
01:28:41.990 --> 01:28:42.890
Yeah. I mean,
1259
01:28:43.534 --> 01:28:46.914
you know, the output descriptors for multisig is very useful.
1260
01:28:48.894 --> 01:28:53.000
You know, it does help with a lot of the the the the backup especially.
1261
01:28:54.340 --> 01:29:00.520
I think the mini script stuff is really gonna shine once you get into Schnorr and all that stuff and very complex,
1262
01:29:01.364 --> 01:29:01.864
scripts.
1263
01:29:05.364 --> 01:29:07.385
Wait. Is it true here that
1264
01:29:08.090 --> 01:29:11.150
you couldn't restore a Bitcoin core backup from the GUI
1265
01:29:11.930 --> 01:29:13.150
until now? Yep.
1266
01:29:13.690 --> 01:29:14.190
Yep.
1267
01:29:15.465 --> 01:29:18.605
Wow. That just goes to show how early we are still.
1268
01:29:19.945 --> 01:29:21.725
No. I mean no.
1269
01:29:22.105 --> 01:29:22.905
The problem is, like
1270
01:29:23.720 --> 01:29:29.420
you know, technically speaking, unless you are a developer, you should not be using Bitcoin Core as your wallet.
1271
01:29:29.720 --> 01:29:32.220
You really shouldn't. It was not like I mean,
1272
01:29:32.545 --> 01:29:35.445
you know, it it's it's a product of its time.
1273
01:29:35.905 --> 01:29:38.485
It's a product of its sort of, like,
1274
01:29:40.520 --> 01:29:41.020
intent
1275
01:29:41.880 --> 01:29:42.699
at the time,
1276
01:29:44.520 --> 01:29:51.865
but, you know, there's a reason why Electrum came right after that. You know, I mean, and got, like, huge market share. You
1277
01:29:53.125 --> 01:29:58.740
know, one thing that people may not know is that the name Bitcoin Core came really from Gavin,
1278
01:29:59.440 --> 01:30:05.620
who was, was going to split I don't know if it was his idea. I can't remember whose idea was at the time, but
1279
01:30:05.965 --> 01:30:08.465
there's always been this this intent to split
1280
01:30:09.324 --> 01:30:10.224
the consensus,
1281
01:30:11.085 --> 01:30:13.025
the the all the Bitcoin
1282
01:30:14.260 --> 01:30:15.240
logic stuff
1283
01:30:15.780 --> 01:30:17.080
from the web GUI,
1284
01:30:17.540 --> 01:30:27.075
right? And that essentially never happened. And there is many reasons why that shouldn't happen either, just because it's gonna cause a cluster fuck and just simply don't use Bitcoin Core as a wallet.
1285
01:30:28.015 --> 01:30:35.690
But if you're trying to validate some more complex stuff you're trying to do, maybe having the funds on Bitcoin Core is not a bad idea either.
1286
01:30:37.190 --> 01:30:43.735
So I'd say the Bitcoin Core Wallet should only be used by devs. Everybody else should just use some other wallet.
1287
01:30:44.035 --> 01:30:50.400
It it in my view, it's actually unsafe just because not because the code quality is not amazing, but just because
1288
01:30:51.100 --> 01:30:51.600
the
1289
01:30:52.380 --> 01:30:53.840
the UX of it,
1290
01:30:54.780 --> 01:30:56.080
and its particularities
1291
01:30:57.045 --> 01:30:59.144
are are unsafe for the average user.
1292
01:31:00.244 --> 01:31:07.250
I'm I mean, a good example of this is one thing that I noticed. I'm not sure if it changed, but I noticed this, like, 5 months ago.
1293
01:31:08.750 --> 01:31:13.730
Like, the standard for showing fee rate in the Bitcoin ecosystem has pretty much
1294
01:31:14.245 --> 01:31:15.945
coalesced on sats per byte.
1295
01:31:16.885 --> 01:31:18.505
But Bitcoin core GUI,
1296
01:31:19.364 --> 01:31:20.505
defaulted to
1297
01:31:20.965 --> 01:31:22.264
bits per kilobyte,
1298
01:31:23.230 --> 01:31:24.770
which is just confusing. Yeah.
1299
01:31:25.550 --> 01:31:29.810
Exactly. It's like the the problem with it's the UX of it
1300
01:31:30.255 --> 01:31:35.235
really is the the the the very, very last mile of the GUI there
1301
01:31:35.775 --> 01:31:37.315
is is not meant for
1302
01:31:37.690 --> 01:31:38.430
average people,
1303
01:31:39.530 --> 01:31:40.430
if we're like.
1304
01:31:43.930 --> 01:31:44.430
Alright.
1305
01:31:45.625 --> 01:31:49.085
Next is Bitcoin Treasury's update. It was a small update.
1306
01:31:49.465 --> 01:31:50.685
Elon has
1307
01:31:51.465 --> 01:31:58.120
Lettuce Hands. I don't have a lot of commentary on this, but I just wanted to point it out that we have updated the bitcoin treasuries.net
1308
01:31:59.460 --> 01:31:59.960
website.
1309
01:32:00.595 --> 01:32:03.335
And now it reflects Tesla reflects
1310
01:32:03.795 --> 01:32:08.295
its, its capacity of holding bitcoin with, 2 emojis.
1311
01:32:10.120 --> 01:32:12.700
I highly recommend checking those emojis out.
1312
01:32:15.960 --> 01:32:17.580
Next here is
1313
01:32:20.055 --> 01:32:23.595
Bitcoin Meshnets, an article By the way, have you noticed
1314
01:32:24.135 --> 01:32:24.875
have you
1315
01:32:25.390 --> 01:32:28.530
have you noticed a lot of selling from the miners recently?
1316
01:32:30.750 --> 01:32:32.050
I think they stopped.
1317
01:32:33.790 --> 01:32:34.450
I think
1318
01:32:35.685 --> 01:32:37.865
the like, some of the biggest ones,
1319
01:32:38.725 --> 01:32:39.945
were over leveraged,
1320
01:32:41.045 --> 01:32:42.905
so they they dumped to deleveraged
1321
01:32:43.490 --> 01:32:45.250
to deleverage, and I think it stopped.
1322
01:32:45.970 --> 01:32:48.630
I was talking to a a minor friend
1323
01:32:49.090 --> 01:32:51.190
who has a a sizable mine,
1324
01:32:52.585 --> 01:32:59.085
and he told me that because he had a nice strong cash position, he's been buying a lot of small miners out,
1325
01:32:59.800 --> 01:33:02.860
for cheap. So he's having a great ball of a time.
1326
01:33:04.120 --> 01:33:04.860
Hi, Marshall.
1327
01:33:05.320 --> 01:33:10.385
I mean, we we see we see that every cycle where where during the bear markets,
1328
01:33:10.765 --> 01:33:17.645
miners consolidate and only the strong survive. I will say that this cycle has been a little bit more extreme because we have not seen,
1329
01:33:18.580 --> 01:33:24.920
the kind of leverage at play on the minor side as we have this cycle. This cycle was was completely
1330
01:33:26.795 --> 01:33:35.580
dominated by specifically American based miners that were able to get cheap debt to buy more miners, and a lot of times that debt was collateralized by ASICs
1331
01:33:35.980 --> 01:33:38.080
themselves. So the machines were the collateral,
1332
01:33:38.940 --> 01:33:41.760
which we've never really seen before in previous cycles.
1333
01:33:42.460 --> 01:33:47.175
You know, generally speaking, this cycle was the first cycle that there were mature
1334
01:33:48.435 --> 01:33:50.935
Bitcoin back lending, generally speaking, right,
1335
01:33:51.795 --> 01:33:55.720
and I think a lot of Bitcoiners got caught off guard with their margins.
1336
01:33:57.860 --> 01:34:00.520
I think people learn how to handle,
1337
01:34:01.620 --> 01:34:02.840
margins and leverage
1338
01:34:03.495 --> 01:34:06.955
a little better. Not that I don't believe most people were seeking
1339
01:34:07.255 --> 01:34:08.795
leverage for leverage sake.
1340
01:34:09.495 --> 01:34:11.355
I think people were just sort of
1341
01:34:12.240 --> 01:34:15.700
trying to find ways to not sell Bitcoin and find fiat.
1342
01:34:16.400 --> 01:34:23.965
Cost of capital was very low last year, so the interest rates were very low for this Bitcoin backed loans as well, and a lot of those went to miners,
1343
01:34:25.945 --> 01:34:32.790
on top of the ASIC backed my backed loans as well. But that's all part of the same bundle of, extremely low collateral,
1344
01:34:34.290 --> 01:34:35.430
capital cost,
1345
01:34:36.450 --> 01:34:38.790
that that has sort of, like, increased substantially
1346
01:34:39.315 --> 01:34:41.014
in the last few months.
1347
01:34:43.635 --> 01:34:48.614
You know, I I think the space is sort of like learning the lessons as it goes. Right? I mean, it's
1348
01:34:49.300 --> 01:34:56.520
it's not easy to break new ground, especially in economics. It's not it's not easy for people to learn how to
1349
01:34:57.065 --> 01:34:57.965
to manage,
1350
01:34:59.065 --> 01:35:03.485
these extremely volatile savings accounts that they have, which is Bitcoin.
1351
01:35:05.600 --> 01:35:08.720
It takes time and it takes some mistakes, but, people will,
1352
01:35:09.520 --> 01:35:10.740
people will figure it out.
1353
01:35:11.955 --> 01:35:20.455
You know, running a Bitcoin company, running a mining company, so essentially Bitcoin company, it's the equivalent of having a directional trade.
1354
01:35:21.060 --> 01:35:21.800
That means,
1355
01:35:22.260 --> 01:35:25.560
you know, when things go good, you do
1356
01:35:25.940 --> 01:35:29.639
extra good, and when thing goes bad, you go extra bad.
1357
01:35:30.415 --> 01:35:34.835
That is that is the biggest issue with having a directional trade. Right? So
1358
01:35:35.535 --> 01:35:36.355
if you,
1359
01:35:37.055 --> 01:35:41.200
if you're earning bitcoin and you also sell things for Bitcoin,
1360
01:35:42.300 --> 01:35:53.585
I mean, you're double fucked when the Bitcoin price goes down and you do, you know, incredibly well when the price goes up. So trying to find a balance of a USD cash position
1361
01:35:54.205 --> 01:36:09.465
or or how you hedge that is not easy. And small businesses are also not, you know, they're just simply not sophisticated enough to the trading, and they shouldn't be. Right? Or or to to figure out just how to to to hedge things even if it's not directly trading.
1362
01:36:10.005 --> 01:36:14.185
It's not an easy problem, and it's a problem that every single Bitcoin company will have.
1363
01:36:21.199 --> 01:36:21.699
Alright.
1364
01:36:22.320 --> 01:36:25.139
So the the Bitcoin mesh nets article by Lola.
1365
01:36:25.705 --> 01:36:29.405
Matt, I imagine, you probably seen this one.
1366
01:36:32.344 --> 01:36:35.869
Yeah. It was believe it was in the print magazine as well.
1367
01:36:36.570 --> 01:36:43.035
That's right. The print magazine, by the way, this this month has, this quarter, their quarterly magazines is
1368
01:36:43.675 --> 01:36:46.655
absolutely phenomenal. It's called the censorship resistant up,
1369
01:36:47.275 --> 01:36:47.775
edition,
1370
01:36:48.395 --> 01:36:48.795
and,
1371
01:36:50.075 --> 01:36:52.730
the Canadian truckers are on the front, This is really
1372
01:36:53.110 --> 01:36:53.930
good to see.
1373
01:36:56.070 --> 01:36:56.890
Yeah. So,
1374
01:36:57.590 --> 01:37:06.565
I mean, Bitcoin Magazine has been killing it with being Bitcoin only with the right ethos in the last sort of couple years now. Right? I mean, they really turned the magazine around.
1375
01:37:07.000 --> 01:37:11.100
Props to to David Bailey and, CK and and all the folks there.
1376
01:37:12.280 --> 01:37:13.500
They they've been a
1377
01:37:14.345 --> 01:37:17.645
power of good in the Bitcoin space, I I gotta say.
1378
01:37:18.985 --> 01:37:21.805
So yeah. So they're running a conference in, in Amsterdam.
1379
01:37:22.670 --> 01:37:27.090
Go buy tickets. I'm sure they would appreciate, ticket sales. It's b.tc/it'sb.tc/conference,
1380
01:37:31.945 --> 01:37:33.245
if you wanna buy tickets.
1381
01:37:33.945 --> 01:37:35.405
But just go back to Lola's,
1382
01:37:36.265 --> 01:37:36.765
piece.
1383
01:37:38.430 --> 01:37:41.090
It's not it's not just a theoretical piece.
1384
01:37:42.430 --> 01:37:44.290
Her and the RGB folks
1385
01:37:44.750 --> 01:37:47.885
have been working in Ukraine to get mesh nets up because,
1386
01:37:48.284 --> 01:37:52.144
the Russians have cut a lot of their Internet over there.
1387
01:37:52.684 --> 01:38:01.330
And and the general premise of mesh nets is a super promising premise, which is this idea that you have distributed nodes that are communicating directly with each other,
1388
01:38:01.710 --> 01:38:04.770
to set up basically these ad hoc networks that don't require,
1389
01:38:05.470 --> 01:38:07.010
existing Internet infrastructure.
1390
01:38:07.645 --> 01:38:13.265
And then if one of them is able to connect out to the the global Internet, whether that's through a hard line
1391
01:38:13.725 --> 01:38:20.460
or something like Starlink, then the whole mesh net, also has that Internet access through that, gateway.
1392
01:38:21.639 --> 01:38:22.139
So,
1393
01:38:22.599 --> 01:38:25.785
here's an interesting thing that most people may not know.
1394
01:38:26.165 --> 01:38:27.785
With standard power
1395
01:38:28.325 --> 01:38:36.180
Wi Fi with a directional antenna that you could go and buy or build it yourself, you can get almost 10 kilometers in line of sight,
1396
01:38:36.960 --> 01:38:38.260
with decent bandwidth,
1397
01:38:39.200 --> 01:38:41.380
and and, reliability. So,
1398
01:38:42.125 --> 01:38:46.945
Wi Fi itself as is, is available in every device and is extremely powerful,
1399
01:38:47.325 --> 01:38:50.145
if you just sort of use it in the right way.
1400
01:38:51.800 --> 01:38:52.300
Meshnets
1401
01:38:52.680 --> 01:38:53.180
themselves,
1402
01:38:54.600 --> 01:38:55.980
are not an easy problem,
1403
01:38:56.680 --> 01:38:58.620
finding that that doing the packet
1404
01:39:00.755 --> 01:39:03.974
redirecting and management is not a simple problem.
1405
01:39:04.755 --> 01:39:06.135
Is also one of those
1406
01:39:06.520 --> 01:39:08.700
projects that because there isn't,
1407
01:39:09.400 --> 01:39:11.500
or at least till now,
1408
01:39:11.800 --> 01:39:14.620
maybe coming soon there will be, but
1409
01:39:15.165 --> 01:39:16.865
there just isn't enough,
1410
01:39:17.405 --> 01:39:20.465
economic incentive for somebody to go and build out.
1411
01:39:21.165 --> 01:39:24.065
All the solutions are not easy solutions, and
1412
01:39:24.400 --> 01:39:28.659
and then you bump into state actor problems based on licensing for the radios,
1413
01:39:29.840 --> 01:39:34.515
even for Wi Fi. If you you know, the way licensing works in most,
1414
01:39:34.975 --> 01:39:35.955
western world
1415
01:39:36.335 --> 01:39:36.815
is,
1416
01:39:37.135 --> 01:39:38.195
it's type approved.
1417
01:39:39.055 --> 01:39:42.115
So that means when you create a a radio device,
1418
01:39:43.170 --> 01:39:43.990
that device
1419
01:39:44.530 --> 01:39:45.030
is
1420
01:39:45.410 --> 01:39:48.470
licensed for that specific purpose, at that specific
1421
01:39:49.330 --> 01:39:56.305
power, at that specific everything. And if you change just a single parameter on it or you tweak the antenna or whatever,
1422
01:39:57.005 --> 01:39:58.864
the license is lost. Right?
1423
01:39:59.170 --> 01:40:02.469
So it's very difficult for a professional manufacturer,
1424
01:40:04.050 --> 01:40:09.895
to sell a device that is that goes against what the state wants, really.
1425
01:40:11.315 --> 01:40:17.155
And that's for many reasons, good and bad. Right? Like, radio is kind of a a common good. Let's put it this way. The the the spectrum is freely available in the universe,
1426
01:40:22.027 --> 01:40:22.527
a
1427
01:40:25.645 --> 01:40:28.385
a dickhead with a a a an amp,
1428
01:40:29.165 --> 01:40:29.665
completely
1429
01:40:30.364 --> 01:40:30.864
disturbing,
1430
01:40:31.485 --> 01:40:32.864
everybody else's transmission.
1431
01:40:33.165 --> 01:40:44.030
Right? So it's complicated that way. That's why they're so hardcore about Spectrum as well. And then there is all the issues of monopolies and blah blah blah. But my point, generally speaking on this, is just that,
1432
01:40:45.435 --> 01:40:48.095
it's gonna be hard for you to see meshnet
1433
01:40:49.355 --> 01:40:49.855
quality
1434
01:40:50.315 --> 01:40:51.935
professional radio solutions
1435
01:40:52.600 --> 01:40:56.460
out in the market that don't require, at a minimum, a ham radio license
1436
01:40:56.840 --> 01:40:59.260
just because manufacturers don't wanna go to jail.
1437
01:41:00.864 --> 01:41:03.925
But, but I have I have a good sort
1438
01:41:04.465 --> 01:41:07.445
of optimism in the fact that you will see better
1439
01:41:08.090 --> 01:41:10.989
home brew solutions that are very, very
1440
01:41:11.370 --> 01:41:18.505
usable in a in a situation in which you need it. Well, I mean, you don't really have that issue in failed states or war zones,
1441
01:41:20.405 --> 01:41:30.350
which Well, you do because the manufacturers are not creating that amazing plug and play solution. Right. Right. Right. Of course. Yeah. That makes sense. But And then it's not out of the box.
1442
01:41:31.050 --> 01:41:33.790
Exactly. You're building it yourself for the most part.
1443
01:41:34.695 --> 01:41:36.875
Yeah. And then when you go below 30 megahertz
1444
01:41:37.335 --> 01:41:41.835
where stuff gets lower bandwidth but way more interesting distance and power wise,
1445
01:41:42.910 --> 01:41:43.970
then it's internationally,
1446
01:41:45.950 --> 01:41:47.170
managed by ITU.
1447
01:41:48.750 --> 01:41:55.885
So for example, you know, one thing that I'd love Bitcoiners to do in the next bull cycle is go to failed states,
1448
01:41:56.665 --> 01:41:58.045
and buy their AM,
1449
01:41:58.985 --> 01:41:59.485
stations,
1450
01:42:00.380 --> 01:42:04.480
that are licensed for that country or whatever, and then just broadcast blocks.
1451
01:42:06.140 --> 01:42:07.840
And then, maybe even
1452
01:42:08.185 --> 01:42:13.965
we we find a way of getting, an AM station in North America that can do that with the correct license. Right?
1453
01:42:14.825 --> 01:42:18.179
You would find a lot a lot of, interesting
1454
01:42:18.960 --> 01:42:20.659
things possible that way because
1455
01:42:21.119 --> 01:42:23.060
if you are broadcasting on AM,
1456
01:42:23.520 --> 01:42:25.380
on an AM band, for example,
1457
01:42:25.955 --> 01:42:28.855
you could have a device that costs, say, like,
1458
01:42:29.635 --> 01:42:30.135
maybe
1459
01:42:30.435 --> 01:42:30.935
$3,
1460
01:42:31.315 --> 01:42:33.175
$5 receiving blocks
1461
01:42:33.715 --> 01:42:34.935
with minimum power.
1462
01:42:36.920 --> 01:42:41.340
And, and then that's it, really. I mean, like, you're really at next level decentralization.
1463
01:42:43.764 --> 01:43:01.935
But everything in time, and and I find that this kind of things only come when the screws really get twisted in, in developing world. Well, m v you may not see. M v k. I mean, you have a lot of knowledge on this topic. You have a successful Bitcoin business, and you live in a failed state. So I look forward to the CoinKite radio tower.
1464
01:43:04.635 --> 01:43:06.900
Canada is becoming a failed state, isn't it?
1465
01:43:08.500 --> 01:43:11.719
So so, you know, I am I am set up for
1466
01:43:12.260 --> 01:43:13.400
for HF here.
1467
01:43:13.940 --> 01:43:17.114
I can I can definitely broadcast my blocks if I need to?
1468
01:43:18.775 --> 01:43:27.580
And, the law on Ham Radio is very clear. In an emergency. I mean, technically you are entitled to do it if that would save somebody's life.
1469
01:43:30.195 --> 01:43:30.695
And,
1470
01:43:31.955 --> 01:43:38.295
we are working on a radio, but that would not be for Bitcoin. That would be for general purpose digital use,
1471
01:43:39.950 --> 01:43:42.530
and, that that could be interesting as well.
1472
01:43:45.550 --> 01:43:51.574
Yeah. I mean, Fedimint should look into doing some of that stuff because you guys are gonna go straight to, to 3rd world. Right?
1473
01:43:52.114 --> 01:43:52.614
So
1474
01:43:54.034 --> 01:43:59.150
maybe maybe you guys find a country that's friendly towards that and you can do the development there.
1475
01:44:03.585 --> 01:44:06.485
Right. An interesting thought. An interesting thought. Yeah.
1476
01:44:07.665 --> 01:44:08.165
Exactly.
1477
01:44:10.700 --> 01:44:13.200
Gloria Zhao added as a Bitcoin core maintainer,
1478
01:44:13.739 --> 01:44:16.320
I just felt like we should just mention it.
1479
01:44:16.780 --> 01:44:20.595
She now has commit access to a Bitcoin repo. Reminder everybody,
1480
01:44:21.215 --> 01:44:26.515
Bitcoin core is not Bitcoin, it's just a group of people who tend to be
1481
01:44:28.139 --> 01:44:30.080
accepted as the main implementation.
1482
01:44:33.420 --> 01:44:42.345
There is no formal process for picking who's the next person, probably a good thing too because if you have a proper process it means people have a proper loophole.
1483
01:44:43.400 --> 01:44:48.060
So I like I like that this thing is messy, and it should stay messy for a little longer.
1484
01:44:49.159 --> 01:44:51.580
And then eventually I'm sure we'll come up with some
1485
01:44:52.845 --> 01:45:04.340
some method I think madness to making people. I think I disagree with that. I mean, I do agree with the fact that Bitcoin Core is not Bitcoin, and the the number one thing Bitcoiners have on our side is we do not have auto updates.
1486
01:45:04.960 --> 01:45:07.680
So, ultimately, it's up to you whether or not you update,
1487
01:45:10.135 --> 01:45:13.595
Bitcoin that you are running on your on your computers and on your nodes.
1488
01:45:15.255 --> 01:45:19.250
But and and I I will say that Gloria is just absolutely
1489
01:45:19.550 --> 01:45:22.930
awesome. She's a great person. She has a really good understanding of Bitcoin,
1490
01:45:24.350 --> 01:45:29.635
and she's just I have I have a ton of respect for her. So I I think she's a great great choice here,
1491
01:45:30.575 --> 01:45:32.835
to to jump into that maintainer role.
1492
01:45:33.535 --> 01:45:38.660
But I I will say that where I disagree with you is it'd be nice if there was a little bit more,
1493
01:45:39.840 --> 01:45:41.780
I don't know, objectivity or
1494
01:45:42.560 --> 01:45:45.940
transparency in in the selection process. It was kinda like,
1495
01:45:47.605 --> 01:45:52.585
Peter Peter stepped down, and then within, like, the same day, it was like, okay. Gloria's in.
1496
01:45:52.965 --> 01:46:00.199
Bam. Bam. Bam. Yeah. And, like, you know what happened in, like, private chats were was where they were discussing it. Exactly. Everything happens in private. Right? But
1497
01:46:00.660 --> 01:46:05.925
but, you know, like, I see this more as a quality defense because I think if this was
1498
01:46:08.085 --> 01:46:08.525
open,
1499
01:46:08.965 --> 01:46:10.425
people would start,
1500
01:46:11.125 --> 01:46:12.905
like, you know, like an unwanted
1501
01:46:13.590 --> 01:46:15.929
sort of war over this for no reason,
1502
01:46:16.389 --> 01:46:16.889
where
1503
01:46:17.750 --> 01:46:18.570
just simply
1504
01:46:18.949 --> 01:46:22.489
snuffing things off and just like, hey, well, here's a new contributor.
1505
01:46:22.995 --> 01:46:24.295
It makes it unimportant
1506
01:46:25.155 --> 01:46:26.455
and being unimportant
1507
01:46:27.395 --> 01:46:28.455
is a feature,
1508
01:46:28.995 --> 01:46:29.495
it's
1509
01:46:30.035 --> 01:46:31.015
a nice defense.
1510
01:46:34.180 --> 01:46:36.520
Justin, I'm curious on your opinion on this.
1511
01:46:37.460 --> 01:46:38.600
Yeah. Go ahead, Justin.
1512
01:46:40.445 --> 01:46:43.745
I mean, there was a bit of a process. You do have, you know,
1513
01:46:44.285 --> 01:46:45.105
you're proposed
1514
01:46:45.405 --> 01:46:50.460
as a contributor, and then people can act it or knack it like anything else. And,
1515
01:46:51.080 --> 01:46:55.580
I know in Gloria's case, there was there was at least one NAC that I saw,
1516
01:46:56.815 --> 01:46:58.835
but it was largely, you know, positive.
1517
01:46:59.135 --> 01:47:03.555
You know, and there every once in a while, there's a MAC. MAC just means, like, no. MAC means yes.
1518
01:47:04.320 --> 01:47:17.205
There's there was, you know, almost everybody was okay with it who was, like, an actual contributor. So there is a bit you know, there's a at least there there's, like, a sort of a confirmation process where, like, if if somebody in a in a chat got proposed that,
1519
01:47:17.905 --> 01:47:23.605
you know, wouldn't be popular with the people contributing to the project, where the where the
1520
01:47:23.960 --> 01:47:28.780
contribution disagree with it, that just wouldn't, they wouldn't get, like, kinda confirmed, so to speak.
1521
01:47:30.440 --> 01:47:30.940
Yeah.
1522
01:47:31.880 --> 01:47:33.100
I I you know,
1523
01:47:34.505 --> 01:47:41.165
I it's such a tankless job that it'll probably be hard to find somebody who wants to do it to begin with.
1524
01:47:45.570 --> 01:47:49.030
And quick news It is a getting to know so many people
1525
01:47:50.505 --> 01:47:55.165
over the years, you you realize a lot of you people are. Yeah. It is a very painful job.
1526
01:47:57.990 --> 01:48:00.650
It's an understatement, right, how brutal it is.
1527
01:48:03.190 --> 01:48:04.410
So congrats Gloria.
1528
01:48:08.845 --> 01:48:12.865
And now the well, I have some links there to the
1529
01:48:14.480 --> 01:48:15.780
to the OphTech,
1530
01:48:16.160 --> 01:48:21.780
newsletters. I highly recommend people, subscribe to them. They have way more meat than this podcast.
1531
01:48:25.295 --> 01:48:25.795
And,
1532
01:48:27.054 --> 01:48:30.275
I I'm still not capable of
1533
01:48:31.020 --> 01:48:34.080
looking at the Bitcoin dev mailing list because
1534
01:48:34.940 --> 01:48:38.800
the long term block reward discussion is an absolute
1535
01:48:39.500 --> 01:48:40.000
no.
1536
01:48:41.965 --> 01:48:43.985
And, oh, it was pretty funny.
1537
01:48:44.845 --> 01:48:48.305
Maxwell, Greg Maxwell did write a big piece
1538
01:48:49.180 --> 01:48:54.320
on the I don't think he ever wrote anything small, but, you know, like a nice wall of text,
1539
01:48:55.180 --> 01:48:55.680
about
1540
01:48:56.219 --> 01:49:01.835
the the tail the tail emissions on the Bitcoin talk. If you're new to Bitcoin,
1541
01:49:02.455 --> 01:49:06.350
you may not know that Bitcoin talk is where is a PHPBB
1542
01:49:07.050 --> 01:49:07.550
forum
1543
01:49:08.250 --> 01:49:11.390
where, everything Bitcoin was talked back in the day,
1544
01:49:12.170 --> 01:49:13.950
and it's still being used by many
1545
01:49:15.515 --> 01:49:17.614
who are into that format of discussion.
1546
01:49:18.715 --> 01:49:22.975
And you'll find many, fun nuggets by, Maxwell there.
1547
01:49:24.020 --> 01:49:25.000
So he recently
1548
01:49:25.780 --> 01:49:29.720
decided to to tear at Todd's suggestion. Remember when we paid
1549
01:49:30.875 --> 01:49:32.574
Themos a shit ton of money,
1550
01:49:33.594 --> 01:49:40.860
to to create a new Bitcoin talk for him, and he decided he was gonna make a completely new forum stack, and then we're still on the same
1551
01:49:41.560 --> 01:49:43.580
Bitcoin talk that we've had for the last
1552
01:49:44.120 --> 01:49:49.500
12 years, 10 years, or whatever? I was I was not a contributor, but I've heard
1553
01:49:49.865 --> 01:49:54.685
that, Teamazoo still released the new forums. How can I do now? 2 weeks.
1554
01:49:55.545 --> 01:50:00.950
2 weeks. And I heard that they're partnering up with, BFL and Obelisk to deliver the miners.
1555
01:50:03.170 --> 01:50:08.745
Well, needless to say I mean, I don't know if it's needless to say, but I never I never donated any Bitcoin to that,
1556
01:50:09.545 --> 01:50:13.005
Bitcoin talk fund, but a lot of people did. There was a lot of Bitcoin in there.
1557
01:50:13.385 --> 01:50:17.060
It was about, was it 4,000, 10000 Bitcoin? Insane.
1558
01:50:18.160 --> 01:50:22.580
Well, at the time, it was not that much money, but still. Can't build new forum software.
1559
01:50:22.960 --> 01:50:24.935
That, what are you gonna fucking do?
1560
01:50:25.635 --> 01:50:28.295
And then I think they had a demo using Discord.
1561
01:50:32.449 --> 01:50:32.949
Anyways
1562
01:50:33.250 --> 01:50:37.829
alright. So the next part here is the next and get into the forum building business.
1563
01:50:38.449 --> 01:50:38.949
Yeah.
1564
01:50:40.155 --> 01:50:47.455
Okay. So I was going to talk about the the hiring part after the noteworthy, but we already mentioned that FETI and Coinkite are hiring
1565
01:50:47.960 --> 01:50:53.739
some people. But there is more Bitcoin companies hiring a lot of people, and these are great companies to work for.
1566
01:50:54.360 --> 01:50:57.835
There is this great place to look for Bitcoin jobs, which is bitcoinerjobs.com.
1567
01:51:00.375 --> 01:51:02.235
I think it's worth filling their website.
1568
01:51:03.014 --> 01:51:04.954
They don't charge for people to list jobs,
1569
01:51:05.800 --> 01:51:12.300
and, there's a lot of great positions there and fun companies to work for. So if you wanna if you wanna work for people,
1570
01:51:13.445 --> 01:51:18.905
if you're looking for a job, if you're looking to get out of your shitty job or your great job for a shitty job,
1571
01:51:19.605 --> 01:51:20.744
check out bitcoinerjobs.com.
1572
01:51:22.840 --> 01:51:24.380
They don't pay me for this ad.
1573
01:51:26.840 --> 01:51:27.340
Alright.
1574
01:51:28.119 --> 01:51:29.179
Bitcoin events.
1575
01:51:31.195 --> 01:51:33.935
Matt was sending me a list of a bunch
1576
01:51:34.315 --> 01:51:41.410
of Bitcoin Park Nashville events. Do you wanna mention some of them, Matt? Yeah. So, I mean, we have a big August at Bitcoin Park,
1577
01:51:42.190 --> 01:51:45.570
our Bitcoin and community focused campus in Nashville.
1578
01:51:47.685 --> 01:51:49.625
In August, we have,
1579
01:51:50.805 --> 01:51:55.465
our meetup, which is focused on digital footprint and privacy is on August 10th.
1580
01:51:57.270 --> 01:52:02.490
Right before that so that's open to the public. You can find all these events at nash bitcoiners.com.
1581
01:52:04.785 --> 01:52:08.325
And then right before that, we have a builders in Bitcoin workshop,
1582
01:52:08.785 --> 01:52:10.165
which is focused on
1583
01:52:10.545 --> 01:52:12.405
different projects in the Bitcoin space.
1584
01:52:13.030 --> 01:52:16.090
Basically, do demos for a smaller group of people.
1585
01:52:16.790 --> 01:52:19.690
The following day, we have a digital identity workshop,
1586
01:52:20.745 --> 01:52:21.885
on August 11th.
1587
01:52:23.305 --> 01:52:26.605
And then we have Rockstar has decided,
1588
01:52:27.625 --> 01:52:28.125
prolific
1589
01:52:28.560 --> 01:52:31.380
Bitcoin developer, a contributor to BTC pay server,
1590
01:52:32.480 --> 01:52:37.440
and one of the leads at strike, rock star dev, has decided he's gonna kill his NIM.
1591
01:52:38.415 --> 01:52:39.795
So he's having a funeral
1592
01:52:40.175 --> 01:52:44.515
at Bitcoin Park on Saturday, August 13th. A lot of people are flying in for that.
1593
01:52:45.375 --> 01:52:47.145
And then this one is farther off,
1594
01:52:48.000 --> 01:52:52.820
in the distance, but I wanna put on everyone's radar. We are doing the Nashville Energy and Mining Summit
1595
01:52:53.440 --> 01:52:59.015
on January 12th, to start off the new year. We've had 2 previous meetups
1596
01:52:59.395 --> 01:53:03.015
that were focused on mining that we've had over 250 people.
1597
01:53:03.955 --> 01:53:10.159
Very strong people in the mining community and the energy community come from around the world to attend, so we're gonna do a bigger event,
1598
01:53:10.699 --> 01:53:12.880
in January that is a 2 day event.
1599
01:53:14.095 --> 01:53:14.995
Very cool.
1600
01:53:16.095 --> 01:53:17.555
I wanted to plug in,
1601
01:53:18.415 --> 01:53:18.915
TabConf.
1602
01:53:21.030 --> 01:53:21.530
Michael,
1603
01:53:22.070 --> 01:53:25.290
does a great job with this conference. It's a more technical conference,
1604
01:53:26.389 --> 01:53:29.610
that is friendly to people that are not technical, which is kinda cool.
1605
01:53:30.535 --> 01:53:38.315
He is looking for more sponsors. This is a a product of passion. It's not like a big commercial enterprise sort of running it.
1606
01:53:38.710 --> 01:53:42.090
So if you're a Bitcoin company that have some bucks to spare,
1607
01:53:43.110 --> 01:53:43.429
do,
1608
01:53:43.989 --> 01:53:45.690
go and sponsor TabConf.
1609
01:53:47.365 --> 01:53:50.745
Bitblock Boom is happening Before you go to Bitblock Boom,
1610
01:53:51.605 --> 01:53:52.905
Tab Conf is awesome.
1611
01:53:53.285 --> 01:53:54.105
That's tabconf.com,
1612
01:53:55.125 --> 01:54:00.420
and that stands for the Atlanta Bitcoin Conference that's happening in October. It's at Great conference. Yeah.
1613
01:54:01.360 --> 01:54:01.860
Tabc0nf.com.
1614
01:54:06.585 --> 01:54:11.244
So, yeah, I wish I could attend, but the timing is not gonna it's not gonna work for me.
1615
01:54:12.960 --> 01:54:15.060
But we are we are helping them with sponsorship.
1616
01:54:16.640 --> 01:54:20.580
And, so yeah. So Bitblock Boom is happening next month in August.
1617
01:54:21.375 --> 01:54:24.995
So, that is that is an awesome, awesome conference.
1618
01:54:25.695 --> 01:54:27.155
Highly recommend people go.
1619
01:54:29.100 --> 01:54:33.360
And, what else what else is happening anytime soon for for events?
1620
01:54:35.020 --> 01:54:36.239
Riga. Riga. Riga.
1621
01:54:37.275 --> 01:54:43.215
Yeah. There is Riga, but that's that's later in the year. Right? No. No. Riga is before all these events except the
1622
01:54:43.755 --> 01:54:45.840
the national events. It's September
1623
01:54:46.219 --> 01:54:51.119
4th through 6th, I think, or something like that. September 3rd through 5th. There you go. Latvia.
1624
01:54:51.420 --> 01:54:52.400
Beautiful city.
1625
01:54:52.885 --> 01:54:59.465
Great people. Everyone speaks English. Super cheap. Awesome conference. Really great conference run by the Huddl Huddl guys.
1626
01:55:00.139 --> 01:55:01.679
I think that's, baltichoneybadger.com.
1627
01:55:02.860 --> 01:55:11.804
I just if you duck duck go or Google or whatever, Baltic Honey Badger, it'll come up. I think we have a link on the previous episode notes as well.
1628
01:55:14.105 --> 01:55:16.525
Yeah. That's I I mean, the the
1629
01:55:17.820 --> 01:55:29.965
the bit devs, meetups, and all the other meetups are picking up a lot now. They're doing a very good job at sort of advertising themselves, so I don't have a list of them here. If you are a meet up organizer and you want us to mention your show
1630
01:55:30.585 --> 01:55:32.205
sorry, your show, your event,
1631
01:55:33.240 --> 01:55:33.640
just,
1632
01:55:34.840 --> 01:55:39.180
just just please let me know. You know? Go to bitcoin dot review,
1633
01:55:40.625 --> 01:55:49.204
and submit your event story or whatever, or go to the Telegram that you created for this and let us know there or email me, whatever. Just
1634
01:55:49.840 --> 01:55:51.940
do let us know so we can mention it,
1635
01:55:52.560 --> 01:55:53.060
because
1636
01:55:53.360 --> 01:55:56.980
like there's a lot of people out there that don't know how to find these things.
1637
01:55:59.684 --> 01:56:01.385
Yeah. So with that,
1638
01:56:01.764 --> 01:56:02.645
I think we've,
1639
01:56:03.045 --> 01:56:03.545
successfully
1640
01:56:04.965 --> 01:56:06.585
read the list. I think we
1641
01:56:06.960 --> 01:56:08.099
successfully did it boringly,
1642
01:56:09.679 --> 01:56:12.020
but I think, I think we've reached
1643
01:56:12.400 --> 01:56:14.340
we've reached the point of the show now
1644
01:56:14.875 --> 01:56:19.534
where, we say our goodbyes unless you guys have any other updates that I may have missed.
1645
01:56:28.880 --> 01:56:29.860
I got nothing.
1646
01:56:31.365 --> 01:56:34.825
Perfect. I'll work on my Internet connection for next for next time.
1647
01:56:35.365 --> 01:56:37.785
There you go. With, with that,
1648
01:56:38.700 --> 01:56:40.160
I, I say goodbye.
1649
01:56:41.100 --> 01:56:43.520
Oh, actually, I do have something. Yeah.
1650
01:56:44.860 --> 01:56:47.280
Go ahead. Sorry, NVK. Sorry, listeners.
1651
01:56:47.945 --> 01:56:48.765
Sorry, Justin.
1652
01:56:50.105 --> 01:56:51.645
I spent the last weekend,
1653
01:56:53.145 --> 01:56:54.525
in Crawford, Colorado
1654
01:56:55.599 --> 01:56:57.699
at a Bitcorners family ranch.
1655
01:56:58.480 --> 01:57:00.020
His name is Jason Reich.
1656
01:57:01.199 --> 01:57:04.179
That was for the beef initiative, beef initiative dot com.
1657
01:57:05.005 --> 01:57:06.665
It was a really special experience.
1658
01:57:07.844 --> 01:57:13.145
Him and his family treated us like family, hosted us on their ranch. There was about a 100 of us.
1659
01:57:13.490 --> 01:57:19.750
We talked about ranching. We talked about food. We talked about child raising. We talked about Bitcoin. We talked about proof of work.
1660
01:57:21.355 --> 01:57:25.295
It was just a fantastic experience. They're gonna have another event in Georgia
1661
01:57:25.835 --> 01:57:27.054
at White Oak Pastures,
1662
01:57:27.835 --> 01:57:29.855
in September. That's coming up.
1663
01:57:30.440 --> 01:57:31.980
But in general, this is
1664
01:57:32.440 --> 01:57:33.580
a really great initiative,
1665
01:57:34.600 --> 01:57:36.780
that Bitcoiners should pay attention to.
1666
01:57:37.605 --> 01:57:38.344
I think,
1667
01:57:38.725 --> 01:57:45.705
the topics are broad, but they're intimately aligned, with each other in in terms of of the new world we're trying to
1668
01:57:48.090 --> 01:57:50.510
empower or make possible. So
1669
01:57:50.810 --> 01:57:54.830
shout out to everyone who was involved with that. It was a really truly humbling experience,
1670
01:57:55.235 --> 01:57:57.655
and I just wanna say that I did a Bitcoin 101.
1671
01:57:58.434 --> 01:58:00.375
In 15 minutes, I onboarded,
1672
01:58:01.315 --> 01:58:03.074
50 ranchers, which was a pretty,
1673
01:58:03.980 --> 01:58:05.040
impressive feat.
1674
01:58:07.580 --> 01:58:08.400
Very cool.
1675
01:58:09.340 --> 01:58:11.360
I saw a lot of the the,
1676
01:58:12.204 --> 01:58:17.744
like, some buzz about it on on Twitter and stuff, and it seems like, people were having a great time there.
1677
01:58:22.540 --> 01:58:23.040
Alright.
1678
01:58:24.780 --> 01:58:35.905
So I think, I think we've covered, we we did good. I think the last episode was about 2 weeks ago. So, maybe maybe we do this in another couple weeks depending on the on the volume of stuff.
1679
01:58:37.170 --> 01:58:45.990
I wanted to I did a little bit early instead of 3 weeks because there was there was enough stuff, and I wanted us to be able to give enough time for for each thing.
1680
01:58:47.625 --> 01:58:52.045
Thank you so much for for you guys helping with this. It's a pleasure having you guys as guests,
1681
01:58:53.065 --> 01:58:55.645
and, for anywhere else, thanks for listening.
1682
01:58:58.610 --> 01:59:02.950
Thanks, MBK. Always a pleasure. I'll see you all next time we record.
1683
01:59:03.490 --> 01:59:03.990
Cheers.
1684
01:59:07.235 --> 01:59:08.215
See you next time.
1685
01:59:12.275 --> 01:59:12.775
Alright.
NOTE
Transcription provided by Podhome.fm
Created: 3/17/2024 4:24:39 PM
Duration: 7156.036
Channels: 1
1
00:00:01.680 --> 00:00:02.500
2
00:00:03.360 --> 00:00:06.180
Yo. Yo. Yo. I hear you. Justin?
3
00:00:07.915 --> 00:00:09.455
4
00:00:09.835 --> 00:00:12.255
5
00:00:14.235 --> 00:00:26.445
Alright. So the you did record. So, and now my waveform is showing. So I think I think we're in a good space. And if we see the error again, we'll pause, refresh the window, and then continue recording so that we don't lose Matt this time.
6
00:00:28.425 --> 00:00:32.460
7
00:00:33.500 --> 00:00:35.120
8
00:00:35.740 --> 00:00:38.560
But, so here's the thing. At the end of this,
9
00:00:39.785 --> 00:00:40.845
save the file.
10
00:00:41.945 --> 00:00:43.805
11
00:00:44.345 --> 00:00:50.120
12
00:00:50.500 --> 00:00:57.465
13
00:00:58.645 --> 00:01:03.625
At the end of the day, I was the one who fixed the audio. So I I can't hear you. I just muted you again.
14
00:01:06.920 --> 00:01:11.020
15
00:01:14.655 --> 00:01:16.915
Hello, and welcome to the episode
16
00:01:17.375 --> 00:01:19.875
3 of the Bitcoin review podcast.
17
00:01:21.040 --> 00:01:21.939
We continue.
18
00:01:22.720 --> 00:01:24.500
This is the 3rd iteration
19
00:01:25.200 --> 00:01:27.939
of a 1, 2, 3 iterations
20
00:01:28.479 --> 00:01:30.180
of this podcast. Yay.
21
00:01:31.115 --> 00:01:31.854
We have,
22
00:01:33.195 --> 00:01:36.975
the idea of the show is to boringly go through the Bitcoin,
23
00:01:38.395 --> 00:01:38.895
products,
24
00:01:39.354 --> 00:01:39.854
updates,
25
00:01:40.670 --> 00:01:43.490
and we've been failing so far at being boring apparently.
26
00:01:44.110 --> 00:01:47.250
So and we also been failing at reserving our opinions.
27
00:01:48.295 --> 00:01:50.315
And so we hope to disappoint you again.
28
00:01:50.775 --> 00:01:51.415
I have,
29
00:01:51.815 --> 00:01:52.315
Matt
30
00:01:52.695 --> 00:01:53.195
and,
31
00:01:53.895 --> 00:01:54.395
Justin
32
00:01:54.775 --> 00:01:56.235
return to the podcast.
33
00:01:56.650 --> 00:02:00.590
They seem to be fixtures that don't go away, and I'm very appreciative of that.
34
00:02:00.890 --> 00:02:01.390
So,
35
00:02:02.170 --> 00:02:03.950
why don't we say hi to them?
36
00:02:06.245 --> 00:02:07.605
37
00:02:07.925 --> 00:02:10.425
38
00:02:11.445 --> 00:02:14.345
39
00:02:14.750 --> 00:02:15.890
That's that's you.
40
00:02:16.190 --> 00:02:16.690
Exactly.
41
00:02:17.390 --> 00:02:18.209
That's racism.
42
00:02:18.910 --> 00:02:19.650
And then,
43
00:02:20.989 --> 00:02:31.224
44
00:02:33.420 --> 00:02:34.959
45
00:02:35.500 --> 00:02:36.239
His Internet's,
46
00:02:36.860 --> 00:02:45.394
47
00:02:46.015 --> 00:02:47.635
Sorry. You're muted again. No kitty.
48
00:02:47.935 --> 00:02:48.915
49
00:02:50.980 --> 00:02:53.220
50
00:02:53.940 --> 00:03:05.864
clean. Otherwise, it's amazing how much fun an adult can have with one little button. You know, one little button. It's amazing. It reminds me of the Staples no button or yes button. I bought the no button on the Internet once.
51
00:03:06.245 --> 00:03:06.745
Anyways.
52
00:03:07.380 --> 00:03:08.920
Yeah. So Yeah.
53
00:03:09.940 --> 00:03:11.480
Let's start this baby.
54
00:03:12.100 --> 00:03:13.720
Let's go through a few vulnerability
55
00:03:14.100 --> 00:03:14.600
disclosures.
56
00:03:16.084 --> 00:03:17.784
Twitter had a data breach.
57
00:03:18.245 --> 00:03:21.064
He exposed the contact details for 5,400,000
58
00:03:21.685 --> 00:03:22.185
accounts.
59
00:03:22.940 --> 00:03:28.220
It's on sale for only 30 grand. So about, a big way and a half right now, you can buy,
60
00:03:28.780 --> 00:03:29.280
5,400,000
61
00:03:30.060 --> 00:03:30.560
records.
62
00:03:31.315 --> 00:03:33.175
You get, Twitter usernames,
63
00:03:33.555 --> 00:03:34.775
emails, phone numbers,
64
00:03:35.474 --> 00:03:39.894
and their underwear size. Why is Twitter keeping their underwear size?
65
00:03:41.840 --> 00:03:47.220
66
00:03:49.295 --> 00:03:51.474
You know, this is a perfect example why
67
00:03:52.175 --> 00:03:59.610
it's it's it's pretty bad that Twitter basically forces you into providing a phone number. You don't have to provide a phone number, but if you
68
00:03:59.910 --> 00:04:06.170
don't, they tend to block your account and then try and get you to basically light KYC and be a phone number,
69
00:04:06.925 --> 00:04:10.385
which puts users at risk when these leaks inevitably happen.
70
00:04:10.765 --> 00:04:18.200
Consider using burner phone numbers. And also rumor is NVK is actually gonna buy the list, to send cold card propaganda to.
71
00:04:20.900 --> 00:04:24.680
72
00:04:25.555 --> 00:04:27.735
Yeah. I mean, it must be really high quality.
73
00:04:29.235 --> 00:04:31.575
So what what's interesting is,
74
00:04:32.560 --> 00:04:35.700
I remember running sort of, like, web companies and services.
75
00:04:36.480 --> 00:04:41.540
Phone numbers are are surprisingly good way of removing the first layer of scammers
76
00:04:42.324 --> 00:04:43.544
and and spammers.
77
00:04:45.125 --> 00:04:46.345
It's like an unfortunate
78
00:04:46.805 --> 00:04:49.305
easy way out for web, suppliers.
79
00:04:51.600 --> 00:04:52.000
What,
80
00:04:52.560 --> 00:04:53.780
what I find unfortunate
81
00:04:54.080 --> 00:04:54.720
is that,
82
00:04:55.200 --> 00:05:00.125
you know, why don't they just charge people like $5 with their bird app,
83
00:05:00.525 --> 00:05:09.105
premium subscription and then don't do any of this k y c stupidity? Because somebody, like, scammers and and spammers are not gonna pay $5 per account.
84
00:05:09.590 --> 00:05:10.650
Absolutely won't,
85
00:05:11.430 --> 00:05:12.569
especially if you're recurrent.
86
00:05:13.509 --> 00:05:15.129
So, that's kinda silly.
87
00:05:15.430 --> 00:05:20.735
But, you know, they don't learn. Right? They rather, spend all their money in, making sure that,
88
00:05:21.534 --> 00:05:23.555
none none will get blocked. Go ahead.
89
00:05:26.100 --> 00:05:29.800
90
00:05:30.740 --> 00:05:35.725
pathetic. They they would allow you to sign up without a phone number, and then you'd show up a day later, and your
91
00:05:36.105 --> 00:05:38.605
account would be restricted. Right? So they wouldn't ask you,
92
00:05:39.145 --> 00:05:41.165
for the phone number initially, but,
93
00:05:41.710 --> 00:05:49.085
they just restrict your account. You show up, and then you have to reenter it. So you can and they wouldn't allow you to reuse it. So you had to so I was, like, you know, trying to get new
94
00:05:49.645 --> 00:05:53.345
phone numbers. Yep. One great thing I tried was silent link, silent dot link.
95
00:05:53.725 --> 00:06:02.250
It's a really cool tool to just buy a phone number with lightning. So if you ever need this problem, that's a fun way to solve it. Another good service is,
96
00:06:02.570 --> 00:06:03.390
97
00:06:05.345 --> 00:06:08.004
which provides disposable phone numbers for these services.
98
00:06:08.305 --> 00:06:16.370
I mean, services like Twitter and other services that essentially force you to do this, like, light KYC to use the product, make it really hard to use anonymously,
99
00:06:17.950 --> 00:06:21.010
should get flack from their users. It's user hostile behavior.
100
00:06:21.685 --> 00:06:25.465
To MBK's point, I like the idea of paywalls to fighting spam.
101
00:06:25.845 --> 00:06:28.345
It's essentially, like, the same idea as proof of work.
102
00:06:29.360 --> 00:06:35.940
Obviously, if you use credit cards, that might as well be light KYC as well or heavy KYC depending on how you look at it.
103
00:06:36.905 --> 00:06:45.565
But if if they depends on who the processor is. Right? Showed up if they just showed, like, a lightning invoice for $5 when you make an account, they would cut down on probably
104
00:06:45.990 --> 00:06:48.810
50 to 75% of bot activity on the platform.
105
00:06:49.670 --> 00:06:59.405
Matt, your your microphone is, burning a little bit at the top there as it's peaking. You wanna probably drop it a little. Well, we could've voice checked if you didn't just mute me every fucking time I spoke.
106
00:07:00.025 --> 00:07:02.205
107
00:07:03.830 --> 00:07:08.410
108
00:07:10.070 --> 00:07:15.275
109
00:07:15.975 --> 00:07:16.634
to their
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benefit of doubt, let's put it this way. Like, the majority of users on Twitter are not gonna pay even 50¢,
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so they have that problem.
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It's not it's not an easy problem because users are, like, the biggest sort of, like,
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at like, guilty here. Like, they will not pay.
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So I think companies just take the the path of least resistance, which is this bullshit,
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lightweight KYC
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to create the form for you to report that doesn't report, but they don't put any devs or any people really to solve these problems. It's kind of annoying.
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Alright.
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Moving on to another one of these
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KYC leaks.
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Well, not really a KYC, but a form of it. ActiveCampaign
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database was leaked.
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You know,
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it's kind of a and I think, the was it? The our friends at Shift Shift Crypto,
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were affected.
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Name, aliases, email addresses, and IPs.
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And I think there were a few more Bitcoin companies that were affected. Right?
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Yeah. So this is
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leaks or compromises and HubSpot
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compromises.
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I I believe Nydig,
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Swan, Unchained,
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there were a bunch of them, but that was, like, 4 months ago. This is appears to be a separate compromise that was just targeted specifically at,
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Shift crypto.
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they will keep on,
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attacking that door without being too overt and trying to take too much stuff out
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because they wanna just keep on draining out the stuff. Right? So,
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you know, even though they may have found the patch or may have found one problem with the thing,
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The guys are either still in there because they're probably using a dev admin key
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or,
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you know, like
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they managed to get away with some stuff without the company
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finding out on the first audit.
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So, you know, always expect that everybody else in that same service is gonna probably be eventually releasing some information about how they also go up.
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What I what I don't understand is why Bitcoin companies are sending their customer information to this third party marketing shit,
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without customer permission.
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It's really annoying.
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It's, it's tragic. I mean, it's not like the the worst possible information, but it's pretty bad. A lot of people forget to use burner emails
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and and names and things for these things.
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You know, remember to always uncheck the box that says send me updates
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There is there is another aspect here, though. I mean, you said burner email addresses.
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It is to go back to the Twitter thing, it is come becoming harder and harder to have a,
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an email address that's not linked to your identity. I I mean, there are
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services,
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like,
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simple login
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and
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ProtonMail
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gives you, like, the ability to do aliases,
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but it doesn't really
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help that much,
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in terms of making it easy to have anonymous email addresses.
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How's my audio now?
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No. That
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was
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good.
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Yeah. I mean,
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I I totally understand, like, the the like, you you want
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a
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a a means of having a a direct channel to your customers. Right? So you want to have their emails, not just depend on Twitter or something else. So,
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I mean, my preference is you have your mailing list
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stuff separate from your your business logic. Right? So if the customer wants to subscribe to that, go there and subscribe to that. So we have a sub stack. Go in the sub stack and subscribe. Right?
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Or our dev mailing list or something like that. Just don't don't cross this stuff so that, you you know, you don't put customer risk.
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Ledger had that vulnerability too on their store because of the CRM. Always the sales and marketing solutions
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that that do the leaking. It's not the actual, like, store database per se, most cases.
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Alright.
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Blue wallet,
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sends transaction data to their servers
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even when
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using your own node.
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That's not great,
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but at least people can disable it. I just wish it was disabled by
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191
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you can enable push notifications. And if you do
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that, then it, by default, hits their notification server.
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Yeah. But then they have no choice if you want Well, they they actually have to. Props to them. They do give you the option to run your own they they open source a notification server, so you could actually run your own notification server if you want. That's great. We should update that with the link and the correct story here.
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We're gonna now start with the software releases and project updates.
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So Nunchuk
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released 1.9.9.
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They edit
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support for NFC,
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the collaborative
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wallet recovery, so that's BSMS,
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and a bunch of, bug fixes and improvements.
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I happen to try this release because it does integrate the tap signer, which is a lot of fun.
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So, being pretty happy with their wallet actually. It's nice to be able to choose. So you import your keys similar to Sparrow
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and Spectre,
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and the keys are separate from the wallets, and then you choose what do you do with those keys. Those keys could be part of multi sigs.
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They could be part of single sigs. They they are part of how you log in if you want.
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I I'm I'm really enjoying how this project is, is progressing.
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all a lot of their core logic for interacting with Bitcoin is pulled out of Bitcoin Core.
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You know, they That's they're also been inching closer and closer.
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Yeah.
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Yeah. So,
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I I I haven't tried it for a while. I'd like to try it again. I I remember, they were just, making some announcements also about their end to end encrypted chat,
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So, you know, you got people coordinating multisig and it's like a chat interface, which could be which is pretty neat.
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220
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a a nunchucks,
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rebuilt our Python,
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tap, NFC tap library
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in c plus plus and released it open as well.
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Are the apps open source yet?
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I mean, all the the the meat of it is on GitHub,
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the libnunchuck and all that stuff. I don't know if the apps themselves are.
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like, the main way you interact with it is through the Android or iPhone app, and those aren't
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I don't I haven't seen if their apps, like, the app shell is there or not.
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You know, for Android, that's kind of that matters. Oh, but but But for desktop. For iOS, it's the same shit because you're trusting anywhere.
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And their desktop they also have desktop.
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I don't know, I really like it. It's like it really brings me back to that old tool called Kopay, which was a very good app that sort of, like, couldn't handle a lot of transactions because it was JavaScript, but,
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it, this is really nice. And, for collaborative multi sig without a third party,
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like, a paid third party kind of thing is nice. Yeah. I will say like a company wallet. I will say that,
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239
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has been part of multiple
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collaborative, multisigs for various projects and bounties and whatnot.
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Even the most
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hardcore technical Bitcoiner struggles with communicating
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the partially signed Bitcoin transactions between keyholders to sign and all that coordination involved is a massive friction pain point that even very hardcore big corners fuck it up,
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and Nunchuk
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just kind of aims to
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to fill that gap really cleanly. So I'm very bullish on that project. I love the idea that you also have encrypted comms
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of the multisig transaction.
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So you can, you know, you can sort of trust that the other party is the other party.
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And you can sort of have conversations around the transaction
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I will I will chat to Hugo about this.
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Maybe the next thing is for There's another aspect here too where
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256
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Like, if you set up a device, a lot of times you wanna do it on your desktop,
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but you wanna like, you might wanna get the keys onto your phone too. Right? Because they have a mobile phone. And I think this
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the the chat would also help, like, you know, syncing the configuration between the desktop and the mobile, which would be really nice. Yeah. They have a server for that. They they do multidevice syncing. It's it's still beta.
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Yeah. So so my hope is that this flag here, but, Yeah. No worries.
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Is that,
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263
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seamless demo, and a compliment you here,
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So seamless demo made me realize that these, these these NFC cards would be really nice for,
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for, for multisig. Because it's also you know, it's like a completely different software stack. And also it's like the just adding it is super super slick. You know? Like, it does
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like, I would like to add one of those to my setup. I mean
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We'll be here.
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I it might sync back.
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So,
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so
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so wallets
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to talk to each other.
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So, like, whichever p two p
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protocol they start using, maybe it's, maybe it's, whatever p two p,
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whatever p to p,
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solution that they use will be really nice if, if it becomes a standard because then,
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you know, you essentially share with each other x pubs and all of a sudden even the chat works. Right? Even though you're using different vendors. That that could be really, really cool.
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280
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282
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283
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The the cool thing with this is that, you know, like, now you can you cannot have your private key on the phone either with the the tap signer thing.
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So I can have encrypted comms
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with a private key that's not on the phone.
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I mean, it it starts to become very cool very fast.
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Anyways, I pretty blisters
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up.
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It's nice to see different stuff being developed. It's not just the plain wallet.
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Alright.
291
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Let's go to BDK.
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BDK
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0.20
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is out. Highlights
295
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for this release include bug fixes for electron blockchain,
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and descriptor templates, new transaction building features to discourage fee sniping,
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and new transaction signing options.
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Also, with this release, MSRV
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is now 1.56.1
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and
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address validator is deprecated.
302
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A big thanks to our contributors,
303
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they say.
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Do you guys have any,
305
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any comments about their, the fee sniping?
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I I I don't really see the point,
307
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but
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that might just be me.
309
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310
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improve the incentives of mining a little bit. I think it's pretty niche.
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What I what I do think is that there's you could see BDK is actually starting to get used.
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It's had a lot of development, like, a year and a half now, sponsorship by Spiral. And you're starting to see actual companies use it now. Like, I think Unchained Capital was, playing around with it. I I saw Francis Puilio,
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was talking about it, doing some integration with it on verbal Bitcoin. So, like, it's it's nice to see that they're they're starting to get some, like, rural,
314
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usage.
315
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316
00:22:17.605 --> 00:22:18.905
the the hot stuff
317
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of the wallet is sort of, like, more centrally
318
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not centrally, but more collaboratively
319
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worked on. So you gain a lot of security from that.
320
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321
00:22:30.630 --> 00:22:31.450
also has,
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LDK,
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and I oh, we're talking about BDK, but BlueWallet has LDK built in to the developer edition.
324
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325
00:22:43.540 --> 00:22:46.040
They they will probably save a lot of development too.
326
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327
00:22:52.515 --> 00:23:00.295
328
00:23:01.630 --> 00:23:05.730
in a high fee environment. But I I'm kind of of the belief that, you know, if we see
329
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we can kinda wait till that type of situation kind of it's fee sniping is not really a,
330
00:23:11.995 --> 00:23:14.175
like, a deadly kind of issue.
331
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It's not something that's just, like, catastrophic failure or something like that.
332
00:23:18.770 --> 00:23:21.270
333
00:23:22.370 --> 00:23:27.510
know, like, they the miners can still choose how they wanna construct their transactions. Right? Exactly.
334
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So, like, I it's it's very similar to, like But you want Hashrate to go towards advancing the chain.
335
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Yeah.
336
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The the the problem with these things is that, like, they they try to fight natural market
337
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dynamics on Bitcoin that was still probably
338
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supersede
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it around somehow.
340
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You know? That's it's it's, you know, it's similar to trying to prevent double spend. You know? It's just it's just a natural
341
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sort of
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aspect of Bitcoin that's never gonna go away. It doesn't matter what he tried to do around it. Right? And because, you know, all the other actors may not even choose to to do
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that standard
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that is not really preventing anything on on protocol level.
345
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346
00:24:17.005 --> 00:24:22.385
there's a strong scenario where we see fee payments out of band as well. So, like, you're trying to,
347
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control something that you can't even control to begin with.
348
00:24:26.960 --> 00:24:29.860
349
00:24:30.400 --> 00:24:34.180
that, a zero confirmation Bitcoin is not your Bitcoin, so
350
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it is a nonissue.
351
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Okay.
352
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Moving on to code card mark 45.0.5.
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We,
354
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released finally the
355
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bib85 derived passwords.
356
00:24:55.995 --> 00:24:58.175
These are really cool, a 126 bits.
357
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If you
358
00:25:00.750 --> 00:25:02.530
it's a 136, but anyways,
359
00:25:04.350 --> 00:25:07.810
you know, what's cool about that is, you know, it's very similar to the bit 85
360
00:25:09.135 --> 00:25:15.715
derived seeds. You have an index, and then you get a strong password, and then you can use that strong password for interesting things.
361
00:25:16.750 --> 00:25:18.450
Please use a different device,
362
00:25:18.910 --> 00:25:24.450
a a secondary code card to to do this for for computer stuff if you're gonna connect to a computer.
363
00:25:25.684 --> 00:25:27.144
I would recommend that.
364
00:25:28.164 --> 00:25:30.745
We did release some docs on it. We hope,
365
00:25:31.445 --> 00:25:34.265
that maybe BIP 85 itself gets extended,
366
00:25:35.750 --> 00:25:36.730
for the passwords.
367
00:25:38.789 --> 00:25:43.825
368
00:25:44.605 --> 00:25:45.585
The the user
369
00:25:46.045 --> 00:25:56.380
is plugging in a cold card via USB. And what is there, like, a text file that lists all the passwords or something like that? No. It's a lot more interesting than that, Matt. I know you like the quick hacks.
370
00:25:57.160 --> 00:26:00.220
371
00:26:00.920 --> 00:26:01.740
or QR.
372
00:26:03.175 --> 00:26:05.915
But NFC and USB, we emulate a keyboard.
373
00:26:06.375 --> 00:26:07.355
So we push
374
00:26:07.895 --> 00:26:11.435
the password itself as a keyboard to the input field.
375
00:26:12.080 --> 00:26:25.805
376
00:26:26.560 --> 00:26:32.180
That's right. And does the cold card have built in labeling so it could be, like, this is to sign in to ledger.com,
377
00:26:32.640 --> 00:26:43.015
or this is to sign in to No. Maybe maybe on the on the next iteration of the feature. So how the fuck are we supposed to use it if we're supposed to remember, like, number 3 signs me into
378
00:26:44.200 --> 00:26:44.700
Yahoo.
379
00:26:45.640 --> 00:26:46.140
380
00:26:47.080 --> 00:26:50.380
381
00:26:50.835 --> 00:26:56.294
It's it's silly to use this for email. You're gonna have just a handful of passwords you're gonna use this for.
382
00:26:56.595 --> 00:26:57.095
Say,
383
00:26:57.794 --> 00:26:58.615
your Cloudflare,
384
00:26:59.639 --> 00:27:00.139
your,
385
00:27:00.759 --> 00:27:02.220
your SSH password,
386
00:27:04.120 --> 00:27:06.299
that encrypts the key on your computer.
387
00:27:07.465 --> 00:27:13.325
You may use it for, like, you know, like a server here and there. Like, this is the way you use it for even.
388
00:27:14.025 --> 00:27:17.030
Exactly. I mean, remember. Right? Like, what's the point
389
00:27:17.490 --> 00:27:22.230
of having your email password being this secure when your browser can see it?
390
00:27:22.930 --> 00:27:24.950
Or or where, like, you know, just
391
00:27:25.304 --> 00:27:29.245
the the the bad guys already have access to the email if they want to.
392
00:27:29.625 --> 00:27:34.125
393
00:27:35.280 --> 00:27:36.900
treated sacredly because
394
00:27:37.280 --> 00:27:44.500
they can reset all their other accounts if they get access to your email. For a lot of people, especially if they reuse email addresses, which most people do,
395
00:27:45.025 --> 00:27:48.485
the email password might be the most important password, period.
396
00:27:49.265 --> 00:27:52.245
397
00:27:54.930 --> 00:27:57.350
a non email for signing up for apps.
398
00:27:58.610 --> 00:28:04.125
I wish they would put that on the Mac as well. I mean, they might have it on Safari, but I don't use Safari.
399
00:28:05.465 --> 00:28:05.965
Anyways,
400
00:28:06.505 --> 00:28:11.179
so so that's a cool feature. I'm pretty excited about that because it does,
401
00:28:13.100 --> 00:28:14.799
it does help my life.
402
00:28:18.075 --> 00:28:19.034
Okay. What else?
403
00:28:19.515 --> 00:28:22.255
We did the the QR codes are now,
404
00:28:23.355 --> 00:28:24.575
readable on,
405
00:28:25.270 --> 00:28:26.010
bright light.
406
00:28:27.510 --> 00:28:27.990
When,
407
00:28:28.390 --> 00:28:29.370
was it? Ruseer,
408
00:28:30.470 --> 00:28:33.210
gave us a nice update that changes the the
409
00:28:33.685 --> 00:28:38.905
the scanning of the screen, which is really cool. So that does essentially better displaying of the screen.
410
00:28:39.285 --> 00:28:40.745
The scanning rate is different.
411
00:28:43.340 --> 00:28:46.460
And, you know, then there were a few other little bug fixes and,
412
00:28:47.260 --> 00:28:51.200
and, other little things. And, oh, yeah. The OP return now is,
413
00:28:51.900 --> 00:28:52.960
you can have
414
00:28:56.285 --> 00:28:59.425
you can have anything you want on the operator and it'll sign essentially,
415
00:29:01.500 --> 00:29:03.360
so that we don't need to know.
416
00:29:04.540 --> 00:29:05.920
We don't check that anymore.
417
00:29:08.460 --> 00:29:10.320
Yeah. So that's it for code card.
418
00:29:12.525 --> 00:29:13.025
Robinhood
419
00:29:13.565 --> 00:29:16.705
420
00:29:17.885 --> 00:29:21.730
Sorry? You missed the one with the foreign UTXO. What's the is that the
421
00:29:22.270 --> 00:29:34.024
422
00:29:34.725 --> 00:29:36.345
by sniping. So
423
00:29:36.725 --> 00:29:37.225
the
424
00:29:39.030 --> 00:29:45.850
there is an option now to sign stuff with foreign TXOs because we have a lot of advanced users that wanna do stuff that, you know,
425
00:29:46.950 --> 00:29:47.690
have fun.
426
00:29:48.294 --> 00:29:50.395
So we wanna support that properly.
427
00:29:51.975 --> 00:29:54.715
That also helps some of the That sounds that sounds useful.
428
00:29:55.309 --> 00:29:57.250
Yeah. It it helps a lot of the
429
00:29:58.030 --> 00:30:02.450
the the the complex multi sig things that people invent out there
430
00:30:02.830 --> 00:30:03.580
and and,
431
00:30:05.655 --> 00:30:06.155
yeah,
432
00:30:06.455 --> 00:30:09.595
or or the HSM functions that it's very useful.
433
00:30:13.049 --> 00:30:13.870
Right. Robinhood
434
00:30:14.809 --> 00:30:15.950
supports back 32.
435
00:30:16.809 --> 00:30:25.615
Nobody should be using back Robinhood for Bitcoin, but if you do, now you can send it to your segued address. I am impressed, like really, like, you know, blockchain
436
00:30:25.995 --> 00:30:30.640
dot info took like, you know, like I don't know how many years to support BIP 32
437
00:30:31.580 --> 00:30:32.720
hierarchical deterministic
438
00:30:33.100 --> 00:30:33.600
wallets.
439
00:30:34.755 --> 00:30:38.775
And then it took another world of time to support BIP 30 2. So,
440
00:30:39.795 --> 00:30:41.015
nice to see Robinhood,
441
00:30:41.475 --> 00:30:46.559
keeping up with the times. I didn't even know you could withdraw from Robinhood. Yeah. I mean It did happen recently.
442
00:30:47.179 --> 00:30:47.919
443
00:30:48.940 --> 00:30:52.160
no one should use Robinhood, but props are props are due. I
444
00:30:52.725 --> 00:30:55.305
specifically, am on the record saying they would never
445
00:30:55.685 --> 00:30:56.585
allow withdrawals,
446
00:30:58.165 --> 00:31:01.045
let alone deposits. Now they let you do withdrawals and deposits,
447
00:31:02.190 --> 00:31:05.890
across all their shitcoins too. I really did not see that happening.
448
00:31:06.910 --> 00:31:11.170
449
00:31:12.475 --> 00:31:17.215
There's a lot less people who are gonna use Robinhood for Bitcoin and crypto,
450
00:31:18.715 --> 00:31:19.934
if they cannot withdraw.
451
00:31:20.410 --> 00:31:20.910
Right?
452
00:31:21.210 --> 00:31:24.350
Especially after the the the bullshit with GameStop.
453
00:31:25.130 --> 00:31:25.630
So,
454
00:31:26.810 --> 00:31:30.485
I I think they're essentially just being forced to do this to retain customers.
455
00:31:36.544 --> 00:31:37.044
Right.
456
00:31:37.345 --> 00:31:38.965
Next is seed tool.
457
00:31:39.730 --> 00:31:41.990
It's called it by Superfat Aero.
458
00:31:42.769 --> 00:31:43.269
Introducing
459
00:31:43.970 --> 00:31:46.230
predictive seed word input, single
460
00:31:46.815 --> 00:31:50.035
address tool, and multisig address derivation.
461
00:31:51.695 --> 00:31:54.755
My understanding is c 2 is, essentially like
462
00:31:56.130 --> 00:31:56.950
something like,
463
00:31:57.730 --> 00:31:58.710
was it Coleman?
464
00:31:59.170 --> 00:32:04.630
What was the name of the guy who had another c 2? Ian Coleman. Ian Ian Coleman.
465
00:32:05.815 --> 00:32:10.475
466
00:32:11.015 --> 00:32:15.799
but definitely do not play with a live seed in there unless it's on an offline computer. Audited?
467
00:32:16.500 --> 00:32:23.754
Like, is there, like, audits on this? I mean, there's a running on the browser. There's a repo, you can download it offline yourself.
468
00:32:25.815 --> 00:32:26.315
One
469
00:32:26.855 --> 00:32:32.310
470
00:32:33.010 --> 00:32:34.870
are things that that touch seeds
471
00:32:35.650 --> 00:32:37.270
tend to have, like,
472
00:32:38.370 --> 00:32:44.315
let's say, notable people from the the community who go and sort of, you know, give a thumbs up
473
00:32:44.695 --> 00:32:47.915
saying, hey. You know, I I did check this and things look reasonable.
474
00:32:48.690 --> 00:32:53.030
475
00:32:53.650 --> 00:32:55.670
Like I said, you can download it offline.
476
00:32:57.035 --> 00:32:59.535
And because it's just a powerful, simple tool,
477
00:33:00.475 --> 00:33:03.215
there are creative ways you can use it if you're a responsible user even without
478
00:33:13.965 --> 00:33:15.505
he set up a cold card,
479
00:33:17.164 --> 00:33:18.385
with dice rolls.
480
00:33:18.924 --> 00:33:22.945
And then on an offline computer, he confirmed the dice rolls
481
00:33:23.950 --> 00:33:24.269
with,
482
00:33:24.830 --> 00:33:27.330
the seed generation on the seed tool.
483
00:33:27.630 --> 00:33:43.639
So he knew that cold card wasn't lying to him about that, and then he wiped the cold card and then generated a new seed and felt more comfortable trusting the dice math on the cold card because the first one worked, but didn't use that seed because he was too paranoid to have it in the seed tool.
484
00:33:44.419 --> 00:33:44.919
485
00:33:45.539 --> 00:33:47.799
Yeah. That that's that's the way to go.
486
00:33:48.465 --> 00:33:50.725
Another way you can do this is,
487
00:33:51.345 --> 00:33:52.645
you know, you can just,
488
00:33:53.265 --> 00:33:53.745
run,
489
00:33:54.225 --> 00:33:55.605
Electrum on tails
490
00:33:55.905 --> 00:33:56.645
and load
491
00:33:57.870 --> 00:34:00.690
the the seed in there and see if it, matches.
492
00:34:01.870 --> 00:34:04.049
I guess you could also run this too on tails.
493
00:34:05.784 --> 00:34:15.005
Just please, people, be very careful with browser tools, not because the developers are nefarious. That's not the point. It's just because the browser is a absolute cluster fuck.
494
00:34:16.380 --> 00:34:18.240
That was not designed to have any security.
495
00:34:18.940 --> 00:34:20.400
So, just just
496
00:34:20.780 --> 00:34:21.920
watch out to this.
497
00:34:22.299 --> 00:34:29.185
Although if you are using a burner seed, I mean, that then there is really no harm. You can do that in any computer, really.
498
00:34:29.565 --> 00:34:39.050
499
00:34:39.590 --> 00:34:40.090
clear
500
00:34:40.950 --> 00:34:45.635
what is happening behind the scenes as you're using it, you can really, like, start to learn,
501
00:34:46.175 --> 00:34:51.315
how these seeds are derived, how they're used in different ways. It's a nice way of just practicing and learning.
502
00:34:52.670 --> 00:34:55.170
503
00:34:55.630 --> 00:34:56.610
504
00:34:56.990 --> 00:34:57.490
I
505
00:34:58.110 --> 00:35:00.450
Go ahead, Justin. I learned what a derivation
506
00:35:00.795 --> 00:35:12.330
path was, like, when I was first getting started. I I learned what a, like, a derivation path was just using the Ian Coleman tool, which was great, you know. So if you if you wanna learn some of the basic stuff, like, what is a derivation path, use a tool like this.
507
00:35:12.870 --> 00:35:17.450
508
00:35:18.664 --> 00:35:25.085
And then, you know, you pick a few buttons. I don't know about this tool, but in the EANS, you pick a few buttons and then it sort of like
509
00:35:25.920 --> 00:35:26.660
it it deterministically
510
00:35:27.120 --> 00:35:29.780
derives everything. Right? So you can see,
511
00:35:30.800 --> 00:35:33.140
like, exactly all the types
512
00:35:33.744 --> 00:35:36.005
of of exports that Bitcoin
513
00:35:37.185 --> 00:35:40.885
use in most wallets and how they interact with each other. Right?
514
00:35:41.984 --> 00:35:43.125
That is pretty cool.
515
00:35:45.970 --> 00:35:46.470
Alright.
516
00:35:48.690 --> 00:35:49.510
Tor Browser
517
00:35:50.370 --> 00:35:52.070
v version 11.5,
518
00:35:53.714 --> 00:35:54.214
automatic
519
00:35:54.835 --> 00:35:57.015
censorship detection and certain convention, redesigned
520
00:35:58.435 --> 00:36:00.615
network settings including streamline
521
00:36:01.350 --> 00:36:02.170
bridge options,
522
00:36:02.710 --> 00:36:03.210
HTTPS
523
00:36:03.670 --> 00:36:04.890
only by default.
524
00:36:05.270 --> 00:36:05.770
Finally.
525
00:36:08.695 --> 00:36:13.435
So, yeah, I mean, the Tor Browser is, is like 11 now, and it's amazing to see.
526
00:36:14.375 --> 00:36:15.835
527
00:36:16.215 --> 00:36:17.355
since you said finally,
528
00:36:17.920 --> 00:36:19.460
usually, Tor Browser gets,
529
00:36:20.160 --> 00:36:21.780
shipped with HTTPS
530
00:36:22.240 --> 00:36:23.380
everywhere extension,
531
00:36:24.320 --> 00:36:26.475
which basically in practice made it,
532
00:36:27.035 --> 00:36:27.535
HTTPS
533
00:36:27.995 --> 00:36:32.895
only, but now it's just built into the browser. So they removed the extension. The way it should be. Right? Yeah.
534
00:36:33.900 --> 00:36:36.800
535
00:36:37.180 --> 00:36:40.720
I don't I I don't know the behavior on the Tor browser, but
536
00:36:41.665 --> 00:36:43.765
the problem is, you know,
537
00:36:44.705 --> 00:36:47.925
TLS certificates are all essentially centralized. Right?
538
00:36:48.625 --> 00:36:51.045
You have you need a centralized authority, a CA,
539
00:36:51.410 --> 00:37:01.565
to issue those certificates or the browser essentially don't work. Self signed certificates don't work anymore on Chrome, for example. But to be clear with with tours specifically,
540
00:37:02.025 --> 00:37:03.164
541
00:37:03.464 --> 00:37:08.765
if you're visiting the clear net, you have to go through an exit node. So if there's not if there's no HTTPS,
542
00:37:09.144 --> 00:37:13.470
they can swap out man in the middle of you on that, and we've seen them do that already.
543
00:37:13.770 --> 00:37:19.310
Now, I mean, if you wanted to go the real hardcore approach, it should just be no clear net websites, period.
544
00:37:20.255 --> 00:37:26.435
But the tour team has taken the trade off model that they think, you know, they get more user adoption if people are able to,
545
00:37:27.460 --> 00:37:30.760
also visit clear net sites. But if you're if you're really,
546
00:37:32.740 --> 00:37:42.105
if you if you really want, you know, the best privacy guarantees, the best security guarantees, you should be doing onion only websites, Tor only websites, and a lot of the good Bitcoin websites specifically,
547
00:37:43.125 --> 00:37:44.265
have those available.
548
00:37:45.369 --> 00:37:45.869
549
00:37:46.410 --> 00:37:49.950
I mean, Tor is is pretty amazing. I mean, especially Tor v 3.
550
00:37:50.970 --> 00:37:52.109
You know, having
551
00:37:53.115 --> 00:37:55.694
having essentially a tunnel with a public key pair
552
00:37:55.994 --> 00:37:57.694
that is not centralized
553
00:37:58.155 --> 00:37:59.454
is is a very cool thing.
554
00:38:01.289 --> 00:38:11.155
And so, like, I I love Tor even just internally we use, you know, between servers and things just because, like, it's a tunnel we trust. We're not, like, using some some,
555
00:38:13.395 --> 00:38:20.970
server sort of VPN kind of thing or anything like that. You just, you know, you create a connection of towards between them and, like, boom. You have yourself a a very strong,
556
00:38:24.070 --> 00:38:26.890
tunnel system, an Internet system, for yourself.
557
00:38:27.595 --> 00:38:30.734
One thing. And Yeah. Go on. Yeah. Sorry. It's just,
558
00:38:31.595 --> 00:38:32.575
you know, you
559
00:38:33.234 --> 00:38:44.305
clear net. Right? I mean, even if so so, like, I completely get a trade off. I mean, you want your users to be able to access clear NAT even if they are at risk of Yeah. Of some men in the middle there.
560
00:38:45.425 --> 00:38:46.484
I don't trust TLS,
561
00:38:47.184 --> 00:38:51.684
personally, especially against the doctors, like, the state actors going after tour.
562
00:38:52.720 --> 00:38:58.339
563
00:38:58.960 --> 00:39:00.579
and you care about privacy,
564
00:39:01.555 --> 00:39:08.695
there is a way to set a flag, basically. So if someone accesses it via Tor browser, it automatically reroutes them to the onion site.
565
00:39:11.740 --> 00:39:16.480
566
00:39:16.964 --> 00:39:25.385
567
00:39:26.730 --> 00:39:30.910
568
00:39:31.370 --> 00:39:34.670
Is it, like, catching on, or what's the what's the deal with that?
569
00:39:39.965 --> 00:39:53.400
570
00:39:53.964 --> 00:39:59.585
571
00:40:00.045 --> 00:40:03.025
everybody who runs a Tor exit node will probably already be
572
00:40:04.700 --> 00:40:06.160
it is essentially like
573
00:40:06.700 --> 00:40:11.280
a, it's similar incentives to Bitcoin in a way. Once state actors have Bitcoin,
574
00:40:11.845 --> 00:40:20.424
575
00:40:20.730 --> 00:40:27.950
that the US will not actively attack it, while the Bitcoin threat model is fine with the US actively attacking it.
576
00:40:28.250 --> 00:40:28.990
577
00:40:31.525 --> 00:40:33.305
It's just it's a so it's an interesting,
578
00:40:34.484 --> 00:40:36.585
symbiotic relationship of that project.
579
00:40:38.805 --> 00:40:39.305
Okay.
580
00:40:39.869 --> 00:40:41.010
So joinster,
581
00:40:41.630 --> 00:40:43.330
it's a coin join implementation
582
00:40:43.710 --> 00:40:44.690
using nostr,
583
00:40:45.869 --> 00:40:47.890
uses the nostr protocol for coordination.
584
00:40:48.635 --> 00:40:50.015
This seems very interesting,
585
00:40:51.355 --> 00:40:53.375
you guys know I am a JM fan.
586
00:40:54.234 --> 00:40:55.930
I have not tried this yet.
587
00:40:56.250 --> 00:40:58.589
I have heard interesting things about Noster.
588
00:40:59.530 --> 00:41:00.670
Any of you
589
00:41:01.290 --> 00:41:01.950
are Noster,
590
00:41:02.809 --> 00:41:04.349
or knowledgeable about it?
591
00:41:09.115 --> 00:41:11.215
592
00:41:11.515 --> 00:41:12.335
William Kassering's,
593
00:41:13.035 --> 00:41:13.535
domicap.
594
00:41:14.829 --> 00:41:18.050
Yeah. I've tried his Domasap, which is it's really slick. Like,
595
00:41:18.510 --> 00:41:19.650
you know, it it,
596
00:41:20.349 --> 00:41:27.535
they're not allowed to be using it yet, but I could see this kinda catching on. But I guess the protocol is just really, really simple. It just relays messages. You have to say
597
00:41:27.835 --> 00:41:30.315
which relays you wanna send and receive messages to.
598
00:41:31.100 --> 00:41:41.974
So it's like the simplest possible version of something like this, and that was the design intention. Whereas well, other things like, you know, web 5 or whatever the the block thing is, They're just, like, kinda complicated.
599
00:41:42.835 --> 00:41:46.275
600
00:41:47.154 --> 00:41:49.575
601
00:41:50.230 --> 00:41:51.930
And I did have JB 55
602
00:41:52.230 --> 00:41:53.530
on sit all dispatch,
603
00:41:54.630 --> 00:42:00.424
with with Fiat, Jeff, and we went pretty deep on it. It's it's it seems really promising. The number
604
00:42:00.724 --> 00:42:05.065
one use case that people keep talking about that people are excited about is a censorship
605
00:42:05.365 --> 00:42:07.545
resistant distributed Twitter clone.
606
00:42:08.360 --> 00:42:11.180
But really at its core, it's a simple communication platform,
607
00:42:11.560 --> 00:42:19.095
protocol. So so you can you can use it for a wide variety of things, including coin joint coordination. At the Twister.
608
00:42:19.555 --> 00:42:20.535
609
00:42:20.915 --> 00:42:22.855
Project from about, 2014
610
00:42:23.635 --> 00:42:24.615
ish, I think.
611
00:42:24.940 --> 00:42:28.800
It was the only thing that I ever saw that
612
00:42:29.180 --> 00:42:31.840
would was actually a viable Twitter alternative
613
00:42:32.140 --> 00:42:33.040
p two p,
614
00:42:35.244 --> 00:42:35.744
and,
615
00:42:36.125 --> 00:42:37.825
it was some Brazilian guy,
616
00:42:38.285 --> 00:42:39.905
and somehow the project sort
617
00:42:40.445 --> 00:42:46.970
of like winded off. Who knows? Maybe Twitter just hired a guy or something, you know, like it had that vibe that like it got killed
618
00:42:47.510 --> 00:42:49.370
with an exit strategy there
619
00:42:49.670 --> 00:42:50.970
because it was clearly
620
00:42:52.325 --> 00:42:53.465
a viable solution.
621
00:42:58.650 --> 00:42:59.130
Anyways
622
00:42:59.450 --> 00:42:59.950
alright.
623
00:43:00.569 --> 00:43:01.290
Next is,
624
00:43:01.690 --> 00:43:03.549
bitcoin binary dot org.
625
00:43:04.010 --> 00:43:08.765
The bot was updated. Kyle Dunn, I believe is, his name.
626
00:43:09.225 --> 00:43:13.165
He contributed the the call to upgrade the bot so that,
627
00:43:13.465 --> 00:43:15.559
this site, which I am involved,
628
00:43:17.300 --> 00:43:19.319
it, it makes builds
629
00:43:19.619 --> 00:43:20.599
for reproducible
630
00:43:21.059 --> 00:43:22.040
build projects,
631
00:43:23.744 --> 00:43:29.444
which is a very good way for most people to gain some more confidence that the cold is kosher.
632
00:43:31.050 --> 00:43:32.750
It's a very, very simple solution.
633
00:43:33.450 --> 00:43:34.109
You know?
634
00:43:34.410 --> 00:43:42.415
If you wanna go there and build other projects and submit, it doesn't matter if there's 10 submissions of the same project. That's actually just adds value.
635
00:43:43.194 --> 00:43:45.375
It just means that there is more people out there
636
00:43:46.460 --> 00:43:47.760
arriving at the same,
637
00:43:48.299 --> 00:43:48.799
binary.
638
00:43:49.420 --> 00:43:50.400
I think that's
639
00:43:51.020 --> 00:43:54.319
a very simple way of of finding more security for everybody.
640
00:43:55.425 --> 00:43:56.244
641
00:43:57.585 --> 00:43:58.085
Alright.
642
00:44:00.625 --> 00:44:04.325
643
00:44:05.490 --> 00:44:05.990
noteworthy,
644
00:44:07.010 --> 00:44:07.510
projects.
645
00:44:09.010 --> 00:44:17.415
I heard this about this, Fady that we've brought up the last episode, but, it seems that, like, Fady is now, is now, funded.
646
00:44:18.595 --> 00:44:20.855
Maybe Justin has anything to do with that.
647
00:44:25.530 --> 00:44:29.150
648
00:44:29.690 --> 00:44:31.070
and Eric, Sirion,
649
00:44:31.450 --> 00:44:31.950
to
650
00:44:33.994 --> 00:44:35.135
deploy Fedimintz,
651
00:44:35.835 --> 00:44:37.535
focusing on the developing world,
652
00:44:37.835 --> 00:44:38.734
global south,
653
00:44:39.035 --> 00:44:43.280
which we kinda discussed a little bit, maybe, on the Spaces the other week.
654
00:44:43.580 --> 00:44:48.640
And, yeah, the idea is, like, to actually take this kind of research proposal research project,
655
00:44:50.265 --> 00:44:57.705
which is now becoming you know, getting the point where it's usable and actually try to deploy them in the real world. And you sort of need a company to do that, in my opinion, because,
656
00:44:58.425 --> 00:45:03.820
you know, it's just not it's not enough to just have some nice code, or a nice UX. You actually actually go and, you know,
657
00:45:04.120 --> 00:45:07.100
meet people where they're at and, make it work for them.
658
00:45:07.485 --> 00:45:09.505
So really excited about that.
659
00:45:09.965 --> 00:45:12.225
You know, bring this, like, you know,
660
00:45:12.525 --> 00:45:18.240
payment's great for scalability, for privacy, and, for p 2 in some use cases. So,
661
00:45:18.540 --> 00:45:21.680
I think it's exciting to try to actually bring that to people in the real world.
662
00:45:22.220 --> 00:45:24.400
663
00:45:24.780 --> 00:45:25.280
664
00:45:25.775 --> 00:45:28.355
so, I mean, it would behoove me to state,
665
00:45:29.615 --> 00:45:31.954
that my venture fund 1031 VC,
666
00:45:32.734 --> 00:45:34.515
co led, this raise,
667
00:45:35.369 --> 00:45:37.710
with Ego Death Capital and Kingsway Capital.
668
00:45:39.609 --> 00:45:42.349
I'm extremely personally bullish on Fediments
669
00:45:42.724 --> 00:45:46.265
as a concept. I think they can help improve the status quo,
670
00:45:47.444 --> 00:45:48.585
of Bitcoin usage,
671
00:45:48.964 --> 00:45:52.185
both in terms of privacy and trust on the custodial side,
672
00:45:52.730 --> 00:45:55.070
because a lot of people just keep opting for using
673
00:45:55.610 --> 00:46:00.270
custodial options regardless of sovereign options out there, mostly because of convenience.
674
00:46:00.645 --> 00:46:03.465
So we can make that status quo convenient option,
675
00:46:04.085 --> 00:46:08.505
more private and require less trust than the current status quo. That's a massive win.
676
00:46:10.410 --> 00:46:13.710
There are a lot of conspiracies out there
677
00:46:14.090 --> 00:46:19.230
about me being bullish on Fedimans because of a vested interest because we
678
00:46:19.635 --> 00:46:33.950
679
00:46:34.569 --> 00:46:39.335
680
00:46:39.875 --> 00:46:43.795
that we were very excited about, and then we funded their their,
681
00:46:45.089 --> 00:46:46.710
their actual company, FETI.
682
00:46:47.329 --> 00:46:49.990
Those are should be treated as separate in my opinion.
683
00:46:50.290 --> 00:46:56.425
And then, second of all, you know, Fedimint as a project, as an open source project is completely false MIT
684
00:46:57.045 --> 00:46:58.025
license code.
685
00:46:58.885 --> 00:47:04.020
So anyone can fork it, run their own Fedimint, do whatever they want independent of the company,
686
00:47:04.800 --> 00:47:07.140
which I'm I if anything, I'm more excited.
687
00:47:07.680 --> 00:47:15.265
I I love you I love you, Justin, and I I love Obi and Eric. You guys are a great team, but I I think I'm more excited about the FOSS project,
688
00:47:16.125 --> 00:47:18.225
than I am about the company specifically.
689
00:47:19.420 --> 00:47:20.160
690
00:47:20.860 --> 00:47:21.920
without companies
691
00:47:22.460 --> 00:47:23.280
and capitalization
692
00:47:23.660 --> 00:47:25.840
of things, it's very hard to find
693
00:47:27.154 --> 00:47:27.654
enough,
694
00:47:28.275 --> 00:47:28.775
work,
695
00:47:29.875 --> 00:47:30.615
and enough,
696
00:47:31.315 --> 00:47:36.590
like, you know, just just people willing to work to to build the things of consumer facing.
697
00:47:37.470 --> 00:47:41.970
Right? Protocols themselves or standard themselves should absolutely be open.
698
00:47:43.390 --> 00:47:50.355
But the the the business solutions on top of them, you know, like, you you need companies behind. Otherwise, they get nowhere.
699
00:47:52.734 --> 00:47:53.214
And,
700
00:47:53.760 --> 00:48:00.260
you know, this is a lesson that most people will always learn in in free open source. It's just that you need both.
701
00:48:01.175 --> 00:48:07.275
And and and people need to learn how to to like both playing with each other. You know?
702
00:48:08.480 --> 00:48:11.380
There is no point in a a pact of poverty.
703
00:48:12.640 --> 00:48:20.974
You know, people people need to find a way of of making money, and and money helps you build even bigger things and get even more people to adopt it.
704
00:48:21.355 --> 00:48:22.415
I think it's great.
705
00:48:23.869 --> 00:48:33.944
There's a lot of projects that started that way. Right? You have essentially like a like a false protocol thing that is mostly developed by the company that's trying to monetize it separately.
706
00:48:36.244 --> 00:48:38.664
And I I think this model has a lot of legs.
707
00:48:39.125 --> 00:48:40.664
Good for you for funding it.
708
00:48:42.980 --> 00:48:48.200
709
00:48:49.895 --> 00:48:55.095
Yeah. Exactly. So I was just saying, you know, we we'd love to see more people building on it. We'd love to see,
710
00:48:55.815 --> 00:48:57.435
we'd love to see, a
711
00:48:59.090 --> 00:49:03.190
lot of experiments, a lot of, other deployments, a lot of apps on top of Edgemont.
712
00:49:03.890 --> 00:49:04.290
And,
713
00:49:05.010 --> 00:49:09.885
and, you know, there's opportunities on the open source project to get some funding currently.
714
00:49:10.424 --> 00:49:15.005
So if you are interested in that and the background, you know, Rust or distributed system,
715
00:49:15.770 --> 00:49:19.070
cryptography, something like that, do reach out to me or Eric,
716
00:49:19.370 --> 00:49:27.595
or anyone else in Discord. And, yeah, the company we're hiring, we're looking for a Rust like a systems engineer, and then a mobile developer most of all. So we're good at mobile. If you're,
717
00:49:28.955 --> 00:49:30.520
you've been using Slutter so far,
718
00:49:31.480 --> 00:49:35.320
we we could switch to something else with the right person. If you're a real pro, please,
719
00:49:36.120 --> 00:49:37.180
please reach out.
720
00:49:40.235 --> 00:49:40.895
721
00:49:41.195 --> 00:49:44.255
know. When can I launch my ICO on, Fedimint?
722
00:49:47.090 --> 00:49:51.030
723
00:49:52.210 --> 00:49:56.470
724
00:49:56.974 --> 00:49:59.714
was not making the the HSM
725
00:50:00.255 --> 00:50:02.595
or or really the the federation code,
726
00:50:03.305 --> 00:50:03.805
open
727
00:50:04.550 --> 00:50:06.890
so that, you know, they could immediately have,
728
00:50:07.590 --> 00:50:08.090
competitors,
729
00:50:09.030 --> 00:50:11.210
using the same protocol and grow the protocol?
730
00:50:12.665 --> 00:50:16.205
731
00:50:16.825 --> 00:50:22.000
to have an open protocol, but then have a company building on top of that to try and monetize separately
732
00:50:22.460 --> 00:50:26.319
is completely different than having a company that has basically
733
00:50:26.755 --> 00:50:30.855
put itself in there as a as, like, a point of control or
734
00:50:31.635 --> 00:50:38.740
735
00:50:39.040 --> 00:50:40.660
way more than than,
736
00:50:42.080 --> 00:50:44.260
than, Unix did because there were
737
00:50:45.535 --> 00:50:47.234
companies trying to build
738
00:50:47.535 --> 00:50:51.315
solutions on top of Linux as a company. Right? So like Red Hat or whatever
739
00:50:53.360 --> 00:50:54.820
while the kernel was open.
740
00:50:55.120 --> 00:50:58.980
With FreeBSD and all the other tools, I mean, you had Apple building Darwin,
741
00:51:00.000 --> 00:51:02.500
which was really the only company that continued Darwin,
742
00:51:04.025 --> 00:51:04.425
And,
743
00:51:05.785 --> 00:51:12.940
they they tried to close down a little too much, so it became their only thing, but they are behemoth, so they could just maintain it themselves.
744
00:51:13.800 --> 00:51:17.820
FreeBSD on the other hand, I mean, it's way better than Linux. There's not even a comparison.
745
00:51:19.560 --> 00:51:20.060
But
746
00:51:21.855 --> 00:51:24.434
there's not as many companies that
747
00:51:24.815 --> 00:51:26.275
decided to build on top
748
00:51:26.815 --> 00:51:27.315
commercially,
749
00:51:28.750 --> 00:51:32.530
Except for now you're starting to see come back because you have pfSense
750
00:51:32.910 --> 00:51:34.050
that grew a lot.
751
00:51:35.150 --> 00:51:38.505
You know, real security stuff out there is all using,
752
00:51:38.984 --> 00:51:43.085
either netBSD, freeBSD, or or some other variation of it.
753
00:51:43.650 --> 00:51:48.230
But, yeah, this to me is the preferred model. You have the open protocol,
754
00:51:49.250 --> 00:51:51.910
ideally, an open implementation of the protocol,
755
00:51:53.085 --> 00:51:57.984
and then you have companies building their solutions on top of that protocol, either closed,
756
00:51:58.365 --> 00:52:03.730
viewable, or open, however they decide to do it. There's even a bigger difference here too where,
757
00:52:05.150 --> 00:52:07.730
758
00:52:08.684 --> 00:52:09.345
of, like
759
00:52:10.444 --> 00:52:17.025
one of the key things is is FETI as a company doesn't intend to be a part of any federation, period.
760
00:52:17.410 --> 00:52:24.710
So it's not even like, oh, anyone can launch a competing federation. Fedi's just not even gonna be involved in the federation running process.
761
00:52:25.444 --> 00:52:27.464
762
00:52:27.765 --> 00:52:28.825
It's a great thing.
763
00:52:29.285 --> 00:52:29.785
Don't
764
00:52:30.085 --> 00:52:36.980
run the federations. Yeah. It's not completely altruistic. If you have a fad that interfere with the fad, it might be a problem.
765
00:52:37.359 --> 00:52:37.859
So,
766
00:52:39.280 --> 00:52:43.485
you you you definitely wanna be just a service provider, a technology provider as we like
767
00:52:45.645 --> 00:52:49.825
like to describe ourselves. I I think that's a that's a much more sound and sane,
768
00:52:50.285 --> 00:52:52.145
way of operating a business.
769
00:52:55.240 --> 00:53:02.380
770
00:53:02.965 --> 00:53:03.465
771
00:53:03.765 --> 00:53:06.585
But if you're a mobile developer engineer
772
00:53:07.365 --> 00:53:16.480
who is, who's a a great at Python and can build across application in Python, you should definitely hit, Quaintite because we we actually ship things.
773
00:53:19.505 --> 00:53:20.005
Yes.
774
00:53:21.265 --> 00:53:21.765
Alright.
775
00:53:22.545 --> 00:53:23.685
776
00:53:24.305 --> 00:53:25.984
you go to MBK and then
777
00:53:26.705 --> 00:53:27.445
778
00:53:27.950 --> 00:53:29.550
You you you can take those,
779
00:53:30.190 --> 00:53:31.970
those those guys of the other languages.
780
00:53:33.550 --> 00:53:35.810
781
00:53:38.195 --> 00:53:38.935
782
00:53:40.515 --> 00:53:42.055
The c k top protocol
783
00:53:42.755 --> 00:53:46.535
got repeated here by Nunchuk. That's already been talked about.
784
00:53:47.539 --> 00:53:49.480
Tap Saturn is now shipping.
785
00:53:50.339 --> 00:53:51.160
It's $39.
786
00:53:52.420 --> 00:53:55.160
We'll probably decrease the price at some point,
787
00:53:55.975 --> 00:54:02.395
and Sats card shipping soon. So, go to the Koincard store and get your top signer. It works now. Yay.
788
00:54:05.120 --> 00:54:07.140
Sphinx Right now is VLS.
789
00:54:07.600 --> 00:54:09.940
790
00:54:10.880 --> 00:54:13.495
Nunchuck, or is there any other apps that support it?
791
00:54:14.455 --> 00:54:21.440
792
00:54:23.040 --> 00:54:24.819
Officially supporting is Nunchuk,
793
00:54:26.240 --> 00:54:30.255
and the guys from Hacksaw wallet, which is I think Keykeeper
794
00:54:30.715 --> 00:54:38.460
or something Keeper or something like that, they are releasing, I think, on their next release. Yeah. They're launching a separate they're launching a separate wallet.
795
00:54:39.000 --> 00:54:40.700
796
00:54:41.560 --> 00:54:42.300
797
00:54:43.320 --> 00:54:45.275
TopSigner is essentially like a
798
00:54:46.234 --> 00:54:48.494
extremely simple Bitcoin hardware wallet.
799
00:54:49.515 --> 00:54:56.530
It but it works as a blind signer. So if you give anything to it, it'll just sign. What do you, what do you tell someone who
800
00:54:56.850 --> 00:54:58.550
801
00:54:59.730 --> 00:55:01.270
for Bitcoin hardware
802
00:55:01.730 --> 00:55:06.855
signing devices has been to have a screen on the device so that you can confirm what it's signing
803
00:55:07.235 --> 00:55:13.640
directly on the device rather than the potentially compromised computer or phone. What do you say to someone in in that respect?
804
00:55:14.900 --> 00:55:18.920
805
00:55:19.755 --> 00:55:23.135
So, you know, if you're gonna keep, you know, a couple grand on your phone,
806
00:55:23.595 --> 00:55:33.430
you know, use a tap signer. It's a lot safer than having trust on the app on the phone to have the private key. Right? And also if you lose your phone and somebody can get in for whatever reason,
807
00:55:33.730 --> 00:55:38.305
the private key is not there either. It's in your wallet and your tap signer. So you have that.
808
00:55:39.244 --> 00:55:42.464
809
00:55:43.645 --> 00:55:51.380
a a mobile wallet rather than Yes. A cold card or something like that? I wouldn't say no. It doesn't compete with cold card at all.
810
00:55:52.240 --> 00:56:03.590
811
00:56:04.070 --> 00:56:09.130
So so there is like a monumental gain there in security. Right? Just by separating the
812
00:56:09.590 --> 00:56:11.210
the the transaction building device
813
00:56:11.830 --> 00:56:20.165
from the private key holding device. And remember, all phones are fully pound. Right? Like, a border agent can just extract everything from the phone.
814
00:56:22.860 --> 00:56:23.260
So,
815
00:56:23.740 --> 00:56:30.880
and then and then if you're gonna use it for large amounts of money, just use multisig. Right? If you're gonna do multisig with top signer, you're you're now, like,
816
00:56:31.395 --> 00:56:38.615
you know, back at that sort of high grade of security because you can use a different device to double check the transaction before you sign it.
817
00:56:39.210 --> 00:56:42.910
So So you could have, like, 2 phones with 2 tap signers,
818
00:56:43.290 --> 00:56:45.630
819
00:56:46.170 --> 00:56:51.055
820
00:56:51.595 --> 00:56:53.215
key on that phone itself,
821
00:56:53.835 --> 00:56:56.335
and then the top signer on the other phone.
822
00:56:56.869 --> 00:57:00.250
It's already exponentially more secure than than not.
823
00:57:02.069 --> 00:57:05.210
So because for example, here's the 3 the the challenge. Right?
824
00:57:05.585 --> 00:57:08.404
Say you have 3 people using Nunchuck for collaborative
825
00:57:08.785 --> 00:57:09.285
multisig.
826
00:57:10.865 --> 00:57:12.244
The 3 of you are trusting
827
00:57:12.704 --> 00:57:14.404
Nunchuck with private keys.
828
00:57:14.820 --> 00:57:17.000
Same implementation of wallet, right?
829
00:57:17.620 --> 00:57:18.120
So
830
00:57:18.500 --> 00:57:21.160
at least, you know, if 1 or 2 of those
831
00:57:21.655 --> 00:57:24.795
of those signers are using an external key device,
832
00:57:25.335 --> 00:57:29.275
you're gaining a lot more security there, right, in case there's a bug or whatever.
833
00:57:30.220 --> 00:57:32.240
So so that's the idea. It's just
834
00:57:32.700 --> 00:57:36.400
it's just adding another layer and really removing the key from the phone,
835
00:57:38.244 --> 00:57:41.625
especially on an app that allows you to have encrypted comms.
836
00:57:41.925 --> 00:57:43.865
You don't you don't want that key there.
837
00:57:46.190 --> 00:57:52.530
So yeah. So that's that's the idea. I mean, you can use it in conjunction of a cold card for for multisig and stuff
838
00:57:52.835 --> 00:57:54.194
in the same idea. But,
839
00:57:55.474 --> 00:57:56.535
I think it's just
840
00:57:57.634 --> 00:57:59.734
right now, there is no economically
841
00:58:00.035 --> 00:58:02.295
viable solution to people who
842
00:58:03.300 --> 00:58:06.440
cannot afford a $100 plus device. Right?
843
00:58:06.820 --> 00:58:14.815
Because even even Ledger, once you put in the euro cost and the tax and the shipping and stuff, it's like it's still essentially a $100. Right?
844
00:58:16.474 --> 00:58:22.099
So if you are, you know, in a country where, you know, your economical capacity is lower, $39
845
00:58:22.640 --> 00:58:26.020
shipped by standard mail is pretty cheap.
846
00:58:26.880 --> 00:58:40.900
And we hope to to bring the price down more soon too. And and who knows, maybe we even find a way of subsidizing the cost in in countries that people can't afford it. Because again, right, it's like it's just a much simpler, cheaper form factor.
847
00:58:43.280 --> 00:58:53.195
So the economics of this are a lot better for people in in countries where they can't really afford the next level security because they also have less money. So there's less money to protect. Right?
848
00:58:53.495 --> 00:58:54.555
849
00:58:55.270 --> 00:58:55.930
to combine,
850
00:58:56.870 --> 00:58:59.290
the 2 topics we just had together,
851
00:59:00.230 --> 00:59:02.570
I mean, you can you could foresee in a world,
852
00:59:03.350 --> 00:59:03.850
where
853
00:59:05.174 --> 00:59:06.795
the the tap signer holds,
854
00:59:07.095 --> 00:59:10.555
a private key, public key pair. That's your backup for your Fedimint wallet.
855
00:59:10.855 --> 00:59:15.910
You use the Fedimint wallet, and then if your phone gets lost or stolen, you can just
856
00:59:16.369 --> 00:59:18.630
restore by tapping the tap signer on it.
857
00:59:19.089 --> 00:59:23.895
858
00:59:25.795 --> 00:59:28.055
it could be just proof of presence really too,
859
00:59:28.355 --> 00:59:32.900
right? You can tap it and not even sort of like login login, right, with the pin and stuff,
860
00:59:33.299 --> 00:59:41.880
that's like that's already good enough for most cases, so if somebody finds your phone on top of a desk unlocked or whatever, they can't just go and spend your money, right?
861
00:59:43.395 --> 00:59:44.135
I think,
862
00:59:45.075 --> 00:59:45.575
you
863
00:59:45.875 --> 00:59:50.135
know, I am mister tinfoil hat when it comes to to real money in Bitcoin,
864
00:59:50.480 --> 00:59:59.675
but like as we as we expand the Bitcoin pie, right, then we start to include people who have less means and less technical capacity, right,
865
01:00:00.235 --> 01:00:02.415
I think we need solutions that have
866
01:00:03.355 --> 01:00:05.775
substantially different sets of trade offs
867
01:00:06.555 --> 01:00:08.975
for ideally an economical gain,
868
01:00:10.780 --> 01:00:12.960
in terms of being cheaper for them. Right?
869
01:00:13.500 --> 01:00:14.640
I think that's
870
01:00:14.940 --> 01:00:16.480
gonna be a game changer.
871
01:00:17.579 --> 01:00:19.119
And reality is in BRIC
872
01:00:19.565 --> 01:00:21.825
and and, economically below that,
873
01:00:22.525 --> 01:00:25.105
it's mobile first. Right? People don't have computers.
874
01:00:27.059 --> 01:00:32.200
They probably have better Internet on their phones than in Canada, but that's a different problem. Yeah. I mean, I I
875
01:00:32.579 --> 01:00:34.280
876
01:00:35.704 --> 01:00:38.164
I had a fantastic conversation on sale dispatch,
877
01:00:38.625 --> 01:00:41.605
with Waxwing and Belcher about Bitcoin privacy.
878
01:00:42.464 --> 01:00:42.944
And,
879
01:00:43.980 --> 01:00:52.400
I said to them I was like, have you guys considered joining market on a mobile phone? And waxwing just immediate responses, well, if you want privacy, you shouldn't use a mobile phone.
880
01:00:54.055 --> 01:01:02.795
And I was like That he's not wrong. Yeah. But, also, like, 6,000,000,000 people will probably be using Bitcoin using their mobile phone only. So,
881
01:01:03.560 --> 01:01:05.740
we probably should have tools for them. Like
882
01:01:06.040 --> 01:01:15.154
883
01:01:16.815 --> 01:01:17.634
It's complicated,
884
01:01:19.180 --> 01:01:24.240
And and the the privacy folk all seem to have a different opinion that is very divergent.
885
01:01:25.635 --> 01:01:30.055
I like the security people who all disagree, but seem to tend to go in the same direction.
886
01:01:30.355 --> 01:01:35.630
887
01:01:36.110 --> 01:01:36.610
CoinJoin
888
01:01:36.990 --> 01:01:38.370
or privacy. I'm muted.
889
01:01:38.910 --> 01:01:40.130
But, Kidding.
890
01:01:40.670 --> 01:01:42.530
But my point is is
891
01:01:43.005 --> 01:01:46.465
is just because a mobile phone does not offer perfection,
892
01:01:47.405 --> 01:01:49.265
from an engineer point of view,
893
01:01:49.724 --> 01:01:52.385
doesn't mean we shouldn't have tools that
894
01:01:53.609 --> 01:01:56.589
provide the best possible experience in terms of
895
01:01:57.210 --> 01:01:58.430
privacy and security,
896
01:01:59.505 --> 01:02:09.950
attainable on a mobile phone because that's the reality of the situation. The reality pragmatic way of looking at this is that the overwhelming majority of people are gonna be using Bitcoin on their mobile phones. So we need mobile first
897
01:02:10.250 --> 01:02:12.510
898
01:02:12.890 --> 01:02:14.750
I just I just wish
899
01:02:15.690 --> 01:02:18.430
the the CoinJoin implementations on phones
900
01:02:19.194 --> 01:02:20.575
would find an alternative
901
01:02:20.875 --> 01:02:22.015
to doxing people's
902
01:02:22.714 --> 01:02:28.815
coins to their servers. That's that's all by default. The problem the main problem that I have is that default part.
903
01:02:30.060 --> 01:02:33.840
It's just it's just it's just something I personally cannot get over,
904
01:02:34.540 --> 01:02:42.305
but I I'm sure there is, like, a large enough market out there of people who who don't mind that that part. Well, I was Because it it's not
905
01:02:42.765 --> 01:02:48.065
you know, there there's like, the doxing is not like a full dock. I mean, you're doxing your coins to them,
906
01:02:48.710 --> 01:02:57.529
but, you know, if if you're using a VPN or whatever, at least you're getting another layer there. It's not like they know who you are. Well But still I mean well, first of all, the wallet in question
907
01:02:58.185 --> 01:02:59.965
908
01:03:00.825 --> 01:03:02.605
So they do not know your IP address.
909
01:03:02.985 --> 01:03:05.244
The second thing is the first thing the wallet does
910
01:03:05.545 --> 01:03:16.599
is tell you that you should use your own node and gives you the steps to use your own node, which is just scanning a QR code, which is as simple as a process as ever gonna get to It won't go. Connect to your own node.
911
01:03:17.075 --> 01:03:17.815
And then,
912
01:03:18.195 --> 01:03:21.335
you know, most mobile wallets have this issue in general.
913
01:03:21.955 --> 01:03:33.740
One thing that people keep pointing out is why don't you use Neutrino? Why don't you use block filters for this? I haven't seen a single wallet that has been able to to do that in a performant way on mobile yet.
914
01:03:34.119 --> 01:03:36.059
It's much more doable on desktop.
915
01:03:37.495 --> 01:03:41.675
916
01:03:41.975 --> 01:03:53.710
that I I'm not trying to be, like, like pedantic about it. It it's more just like it's a set of trade off that that deeply bothers me, but it but I also understand there's challenges around it. It's not like,
917
01:03:54.235 --> 01:03:55.455
a I'm not trying
918
01:03:55.915 --> 01:03:56.735
cheap shot
919
01:03:57.275 --> 01:03:58.335
on on on SadWallet
920
01:03:58.795 --> 01:04:02.960
aside from their wonderful, wonderful personality online. I mean, I like
921
01:04:03.280 --> 01:04:08.900
922
01:04:10.615 --> 01:04:13.435
So right now, my current situation is,
923
01:04:14.615 --> 01:04:15.355
I think,
924
01:04:16.055 --> 01:04:17.835
that the trade offs that
925
01:04:19.800 --> 01:04:23.260
samurai has chosen has has has positive benefits,
926
01:04:24.119 --> 01:04:27.180
and that it is a it is a trade off model with trade offs.
927
01:04:27.725 --> 01:04:32.065
And I also think that, you know, the trade offs that Fediments are making,
928
01:04:32.845 --> 01:04:34.705
are very compelling trade off balance.
929
01:04:35.165 --> 01:04:36.705
And it turns out that
930
01:04:37.760 --> 01:04:43.859
a lot of the people that don't like me for or are concerned about me thinking that the trade offs of samurai
931
01:04:44.240 --> 01:04:44.980
are compelling,
932
01:04:46.835 --> 01:04:52.455
Think the trade offs of Fediments are compelling, and then the people on the opposite side think I'm ridiculous for
933
01:04:52.835 --> 01:04:57.500
liking the trade offs that Fediments are making. So I'm I've been pissing off people on both sides,
934
01:04:58.040 --> 01:05:01.420
which is exactly where I like it, but the one thing I will leave it at is,
935
01:05:02.440 --> 01:05:05.800
you know, building on Bitcoin is permissionless. It is an open network,
936
01:05:06.744 --> 01:05:12.925
and I hope to see a world where there's so many different Bitcoin options that have various different trade off methods,
937
01:05:13.600 --> 01:05:27.335
trade off balances, and, you know, not everyone's gonna be happy with them. Like people are gonna be upset about different trade offs and that's their prerogative. They can choose the tools they wanna use. As long as the trade offs are clear. It it gets to a scammy territory. It gets to a bullshit territory
938
01:05:27.635 --> 01:05:29.975
if the trade offs aren't made clear to the end user.
939
01:05:31.160 --> 01:05:42.415
940
01:05:44.635 --> 01:05:48.175
And it must be must be fun to to be you and that's is Matt.
941
01:05:51.430 --> 01:05:51.930
Alright.
942
01:05:53.670 --> 01:05:55.369
We are moving on to
943
01:05:55.670 --> 01:06:01.355
the Sphinx analysis GLS. 2 weeks in a row. Yeah. That's right. VLS signing device.
944
01:06:01.975 --> 01:06:05.915
The same announced hardware signing device interfacing with validating
945
01:06:06.455 --> 01:06:07.595
lightning signer.
946
01:06:08.070 --> 01:06:10.070
I am not super familiar with VLS.
947
01:06:10.710 --> 01:06:12.250
Do you guys have some VLS,
948
01:06:13.990 --> 01:06:15.370
points? No? No?
949
01:06:18.645 --> 01:06:22.585
950
01:06:23.180 --> 01:06:33.715
went to a hackathon. We built, we built the lightning hardware wallet. So we just took an Arduino and stuck a private key on there. It took it took, like, one file off of c lightning. It would do the signing and stuck it on the Arduino hard
951
01:06:34.575 --> 01:06:35.235
or wallet.
952
01:06:39.110 --> 01:06:41.270
Yeah. So it's it's it's something I had
953
01:06:41.830 --> 01:06:44.330
for a while. And, so this, lightning verifying
954
01:06:44.710 --> 01:06:47.690
signer project or validating lightning signer project
955
01:06:48.165 --> 01:06:54.265
is is supposed to be able to, like, basically make a lightning hardware wallet. And it's it's an interesting thing to see discussions around it because
956
01:06:57.210 --> 01:07:05.930
from what I've seen, like, they have to take tons of logic and put it on the device itself to actually make it work. Yep. So I still wonder if it's gonna work because that it sounds,
957
01:07:08.795 --> 01:07:12.095
and it's almost like you damn near half of the node running
958
01:07:12.635 --> 01:07:14.335
this thing. It seems like
959
01:07:15.680 --> 01:07:16.180
sometimes,
960
01:07:18.480 --> 01:07:23.680
in order to actually thinks thinks that it's gonna work, and they seem to be, you know, lightning experts. So,
961
01:07:24.545 --> 01:07:26.405
excited to actually play with it. Looks like
962
01:07:26.945 --> 01:07:29.445
they'll ship point view of your company.
963
01:07:30.305 --> 01:07:34.599
Little note at the bottom. So anybody's interested, you know, try it out. Let us know how it
964
01:07:35.059 --> 01:07:36.119
965
01:07:36.900 --> 01:07:41.400
Sorry, guys. I turned off all the cameras so that maybe the connection for Justin gets a little better.
966
01:07:44.055 --> 01:07:44.555
So
967
01:07:45.015 --> 01:07:45.915
so VLS
968
01:07:46.375 --> 01:07:49.115
then sounds to me similar to
969
01:07:49.710 --> 01:07:55.549
parts of what LDK wants to do, where he wants to to also be the policy HSM.
970
01:07:57.285 --> 01:07:58.265
I had a conversation
971
01:07:58.725 --> 01:07:59.545
with Steve,
972
01:08:00.565 --> 01:08:00.965
and,
973
01:08:01.365 --> 01:08:07.680
they they were interested in maybe getting LDK into a Java card or something like that at some point.
974
01:08:08.380 --> 01:08:10.640
I I don't know what the status of this is,
975
01:08:11.100 --> 01:08:15.120
but, it's, it's major work to get something like this written,
976
01:08:15.420 --> 01:08:23.344
for hardware in a secure proper way, especially if the hardware is hot. Not a not an easy problem, but it's a problem that needs to be solved.
977
01:08:24.639 --> 01:08:30.980
978
01:08:32.320 --> 01:08:32.820
979
01:08:34.235 --> 01:08:35.275
That, that's,
980
01:08:35.755 --> 01:08:36.895
yeah. I I mean,
981
01:08:37.275 --> 01:08:45.389
this this is a hard problem, so it's nice to to know that they're trying to sort of coordinate with more people, especially people who have some harder experience as well.
982
01:08:47.290 --> 01:08:52.805
All right, Border Wallet. I saw this project the other day. I think I was listening to the Legacy
983
01:08:53.585 --> 01:08:55.845
Weekly podcast about the news,
984
01:08:58.380 --> 01:08:58.860
and,
985
01:08:59.420 --> 01:09:01.360
it's a it's a very cool one.
986
01:09:02.700 --> 01:09:06.400
It's a way for people to to memorize their their seeds.
987
01:09:07.165 --> 01:09:14.385
988
01:09:15.490 --> 01:09:17.250
989
01:09:17.730 --> 01:09:21.510
I'm just trying to create some drama here, but, Matt actually releases,
990
01:09:22.050 --> 01:09:31.265
991
01:09:31.645 --> 01:09:34.429
MBK is a little bit salty about it because it obsoletes,
992
01:09:35.050 --> 01:09:37.469
sticking an open dime up your nature's pocket.
993
01:09:38.650 --> 01:09:49.265
994
01:09:49.825 --> 01:09:51.205
995
01:09:53.440 --> 01:09:58.420
The the the the one of the guys behind this is also one of the guys, Superfat Arrow,
996
01:09:59.199 --> 01:10:00.695
with a pH, superfatarrow,
997
01:10:01.395 --> 01:10:10.010
is one of the guys behind that seed tool we're talking about. And, basically, the general premise is, okay, how can we make it as easy as possible for you to generate a
998
01:10:10.809 --> 01:10:21.305
a seed on a regular computer and, memorize it for a short period of time if you're crossing a hostile border and you're and you're concerned about carrying hardware across? So it shouldn't be used as,
999
01:10:22.165 --> 01:10:23.864
your standard savings
1000
01:10:24.245 --> 01:10:31.700
method or, I mean, memorizing things is always dangerous. I've lost so many passwords that I thought I had memorized until I didn't.
1001
01:10:32.720 --> 01:10:40.245
But if you're crossing a hostile border specifically and you're afraid that they're gonna confiscate any hardware you have on you, this could be a compelling option.
1002
01:10:41.105 --> 01:10:43.265
1003
01:10:44.225 --> 01:10:48.710
he got, he got some, some inspiration from the the CDX
1004
01:10:49.130 --> 01:10:49.630
or,
1005
01:10:50.690 --> 01:10:51.510
like, table.
1006
01:10:51.969 --> 01:10:53.989
Right? So for you to reconstitute
1007
01:10:54.450 --> 01:11:02.565
CDX or, we have a PDF so you can redo the CDXOR by hand with a little table and pen and pencil, essentially.
1008
01:11:03.250 --> 01:11:07.190
So he was telling me that that he took some, some inspiration from that,
1009
01:11:08.210 --> 01:11:09.750
which is kinda cool.
1010
01:11:10.530 --> 01:11:11.510
I think that
1011
01:11:12.345 --> 01:11:13.245
old school
1012
01:11:13.864 --> 01:11:15.805
ways of handling cryptography
1013
01:11:16.185 --> 01:11:18.364
related topics by hand
1014
01:11:18.745 --> 01:11:20.045
are greatly underappreciated.
1015
01:11:22.139 --> 01:11:24.480
You know, let's let's not we forget that,
1016
01:11:25.340 --> 01:11:27.040
one time pad still
1017
01:11:27.420 --> 01:11:28.080
the most
1018
01:11:28.985 --> 01:11:35.324
the the the most hardcore way of encrypting something and also one of the simplest ways of encrypting something.
1019
01:11:37.470 --> 01:11:39.810
Justin, how about that one time pad app?
1020
01:11:45.445 --> 01:11:46.744
1021
01:11:49.525 --> 01:11:50.025
1022
01:11:52.005 --> 01:11:54.390
Now we go to Keith, p2pcomsbybitfinexintether,
1023
01:11:58.770 --> 01:11:59.990
which I think I misspelled.
1024
01:12:01.010 --> 01:12:02.230
This seems promising,
1025
01:12:02.965 --> 01:12:03.945
it's nice.
1026
01:12:04.485 --> 01:12:06.824
The quality of the video seems to be great,
1027
01:12:07.205 --> 01:12:14.380
and it seems to be something that might catch on. I don't know, The All this p two p solution seem to
1028
01:12:15.000 --> 01:12:15.500
to,
1029
01:12:16.040 --> 01:12:19.659
to fizzle away and not get a lot of traffic eventually. But The
1030
01:12:20.165 --> 01:12:22.905
1031
01:12:23.284 --> 01:12:24.344
individual bandwidth,
1032
01:12:25.445 --> 01:12:39.275
obviously, because you're connecting directly to each other without a centralized server. I would agree that with MBK that it's a compelling project. One thing to keep in mind is as it's currently set up, you are doxing your IP address to any participants in the video chat,
1033
01:12:40.055 --> 01:12:45.355
which can give away your your general location or with a sophisticated actor, more,
1034
01:12:46.370 --> 01:12:49.110
more precise location and browsing activity. So,
1035
01:12:49.650 --> 01:12:55.350
consider using it with a VPN, if you're gonna use it. I assume if you use it with Tor, it would just be complete garbage. So,
1036
01:12:56.195 --> 01:12:59.255
a VPN it is if you want to protect that IP address.
1037
01:13:00.435 --> 01:13:02.835
1038
01:13:03.330 --> 01:13:11.990
Skype used to be like that until Microsoft bought them and created backdoors and centralized services. Yeah. That was part of the government conspiracy to get into our Skype calls.
1039
01:13:12.705 --> 01:13:26.490
1040
01:13:27.195 --> 01:13:37.780
But, yeah, Skype had that Skype had that, like, what, like, 10 years ago? And then we everything moved over to a centralized model so we could surveil everything. And now we're finally going back to the basics.
1041
01:13:38.400 --> 01:13:40.340
Impervious is gonna have something similar
1042
01:13:40.800 --> 01:13:41.460
out soon.
1043
01:13:42.395 --> 01:13:46.735
I'm sure a bunch of them are kicking themselves because they've been advertising Zoom without Zoom,
1044
01:13:47.435 --> 01:13:49.900
for months now, and it seems that,
1045
01:13:50.300 --> 01:13:52.960
Keith beat them to the punch by maybe a couple weeks.
1046
01:13:53.860 --> 01:13:54.360
But,
1047
01:13:56.140 --> 01:13:57.520
what's interesting about
1048
01:13:57.935 --> 01:14:01.795
Impervious' model is Impervious' model is gonna be directly integrated,
1049
01:14:02.494 --> 01:14:04.034
with decentralized identifiers,
1050
01:14:05.614 --> 01:14:06.994
which I think could be
1051
01:14:07.550 --> 01:14:08.290
pretty cool,
1052
01:14:08.989 --> 01:14:10.690
in terms of doing file transfer,
1053
01:14:11.150 --> 01:14:14.930
encrypted chat, and encrypted video all at the same time.
1054
01:14:16.165 --> 01:14:24.585
1055
01:14:24.920 --> 01:14:25.420
Right?
1056
01:14:26.120 --> 01:14:30.700
I mean, we're talking about Tether and Bitfinax. I mean, they're extremely capitalized entities,
1057
01:14:31.800 --> 01:14:32.300
who
1058
01:14:32.665 --> 01:14:40.445
have very little incentive is in building something like this. So I imagine that things are changing. Right? These are companies that probably see
1059
01:14:41.490 --> 01:14:45.670
harm in having doing their everyday business through the standard comms,
1060
01:14:46.050 --> 01:14:52.845
and they're probably investing heavily in having their own comms developed in an open way so that they can't be easily,
1061
01:14:53.545 --> 01:15:01.530
co opted. But, I think we'll see a lot more of that. I mean, this is it's not like a like Tether is on the right side of the US,
1062
01:15:02.550 --> 01:15:03.210
the US,
1063
01:15:03.590 --> 01:15:04.090
cheek.
1064
01:15:05.270 --> 01:15:08.455
1065
01:15:08.855 --> 01:15:11.115
which is just this idea that ideologically
1066
01:15:11.735 --> 01:15:12.235
aligned,
1067
01:15:13.495 --> 01:15:17.150
freedom oriented individuals and corporations will get so
1068
01:15:17.630 --> 01:15:19.330
so wealthy and so profitable
1069
01:15:19.710 --> 01:15:28.405
that they'll do things, for the greater good that aren't don't necessarily have financial gain. And, I mean, in this case, the incentive seem to be that
1070
01:15:28.865 --> 01:15:31.525
that Tether and Finnex and the guys behind it,
1071
01:15:31.985 --> 01:15:36.760
want this tool for themselves. Right? So why not open source it and provide it to everyone else,
1072
01:15:37.219 --> 01:15:40.360
without direct monetization on this specific project?
1073
01:15:41.380 --> 01:15:42.440
1074
01:15:43.095 --> 01:15:45.675
say for example, you're talking like your Bitfinnex.
1075
01:15:46.135 --> 01:15:51.770
Right? And you're talking to your securities lawyers. Right? You can't trust
1076
01:15:52.150 --> 01:15:58.410
that, you know, people that shouldn't have access to that call say the other side, right, of the litigation
1077
01:15:58.955 --> 01:16:01.535
is not listening to you talking to your lawyers,
1078
01:16:03.355 --> 01:16:06.895
which is a perfectly legal application of something, right?
1079
01:16:07.290 --> 01:16:16.190
We don't even need to go into the the weeds with like what is right and what's wrong, but like this is something that the state deems legal, right, for you to have the client attorney privilege.
1080
01:16:16.755 --> 01:16:17.255
So,
1081
01:16:19.235 --> 01:16:21.735
it's just it's just really, really nice
1082
01:16:22.835 --> 01:16:25.335
to be able to have your own comms that you trust
1083
01:16:25.760 --> 01:16:27.940
to do standard legal business.
1084
01:16:29.120 --> 01:16:34.020
I think I think in the future, we're gonna see a lot more of that because we all know that all the comms are compromised.
1085
01:16:36.945 --> 01:16:41.765
Alright. So Justin, I think that Yeah. I tried this thing. Yep. I tried this thing the first day.
1086
01:16:42.920 --> 01:16:51.580
1087
01:16:52.355 --> 01:16:53.335
I was pretty impressed.
1088
01:16:53.954 --> 01:16:56.855
And, so far, it's not open source. So far,
1089
01:16:58.114 --> 01:17:04.070
and and I don't I don't think the app is open source. And there's a a protocol underneath it called Hole Punch, which they've been sort of advertising.
1090
01:17:04.770 --> 01:17:27.090
I think this is how they get over, like, the natural resource issues. There's, like, some relay servers involved or something like that. They're not relay servers, but there's some there's this is how they just get around having relay servers, I think. And I said they didn't open source it, but they're going to by the end of the year. And their excuse was that they didn't want some shitcoiners coming in and throwing a token on top of it. So hopefully That's a perfectly reasonable thing to do. There will be more apps
1091
01:17:27.585 --> 01:17:33.844
1092
01:17:34.145 --> 01:17:35.364
scammers and cloners
1093
01:17:35.710 --> 01:17:41.090
taking all your code and then trying to spin up another company on top of it. Right? We all know how this works.
1094
01:17:45.065 --> 01:17:46.925
1095
01:17:50.905 --> 01:17:51.965
1096
01:17:52.740 --> 01:17:55.000
like a quick review on the Cloners project.
1097
01:17:55.380 --> 01:17:59.720
It seems that they greatly increased weaknesses on the cold as they continue
1098
01:18:00.745 --> 01:18:04.125
between quotes innovating on that cold base. Fascinating.
1099
01:18:05.625 --> 01:18:07.245
But anyways, moving on.
1100
01:18:08.350 --> 01:18:12.130
Justin, you have submitted this story for us here.
1101
01:18:12.430 --> 01:18:13.250
James O'Byrne
1102
01:18:13.630 --> 01:18:14.850
summarizing mempoolresearch.
1103
01:18:16.675 --> 01:18:17.455
To mempool.work.
1104
01:18:18.955 --> 01:18:21.215
Very curious about, about this.
1105
01:18:25.090 --> 01:18:37.575
1106
01:18:38.435 --> 01:18:42.375
And, it's it's kind of a sensitive issue for a lot of these second layer application
1107
01:18:43.220 --> 01:18:49.000
things like, or protocols like like Lightning. You know, you don't wanna get into scenarios where you can't,
1108
01:18:49.540 --> 01:18:53.835
publish your justice transaction, or it gets delayed, or, like, you just lock funds up.
1109
01:18:54.375 --> 01:19:00.930
And so there's on the mailing list for last year, you know, there's more and more proposals, and a lot of them just get kinda more more complicated.
1110
01:19:01.630 --> 01:19:01.950
And,
1111
01:19:02.510 --> 01:19:08.290
I think one of James's so James sort of mempool.work on his GitHub. Just search James ob mempool.work.
1112
01:19:08.705 --> 01:19:10.705
He's gonna make a website out of it eventually. But,
1113
01:19:11.425 --> 01:19:13.205
he's he's trying to, like, kinda summarize
1114
01:19:13.825 --> 01:19:24.060
the state of the art. So if you're if you've heard of some of this but would like just a summary, it's, he does a great job of it. And he he's kinda has, like, an interesting point of view that some of these problems might be kind of intractable.
1115
01:19:24.745 --> 01:19:29.965
And, one of the big risks is that if if if the validation logic in full notes gets too complex,
1116
01:19:30.425 --> 01:19:38.580
maybe miners just say, like, screw it. Just, like, give give, give us transactions directly. And then all of a sudden, you can't really do fee estimation anymore,
1117
01:19:39.145 --> 01:19:47.085
because your mempool and the miner's mempool aren't don't resemble each other. So that's kind of like a a risk that's on the horizon that he's kinda Oh, that's always
1118
01:19:47.690 --> 01:19:57.525
1119
01:20:00.065 --> 01:20:03.205
agreements. Let's put it this way. And it's only gonna
1120
01:20:03.890 --> 01:20:12.470
1121
01:20:14.195 --> 01:20:16.135
1122
01:20:16.515 --> 01:20:17.015
is
1123
01:20:17.554 --> 01:20:20.695
the so let me call it intuition. My intuition is
1124
01:20:21.315 --> 01:20:21.815
that
1125
01:20:22.659 --> 01:20:26.199
I don't think we'll ever see a saturated
1126
01:20:26.500 --> 01:20:28.199
free market as we saw
1127
01:20:28.659 --> 01:20:29.400
way back,
1128
01:20:29.780 --> 01:20:30.920
on the block wars,
1129
01:20:31.785 --> 01:20:32.285
because,
1130
01:20:33.145 --> 01:20:33.965
back then,
1131
01:20:35.465 --> 01:20:38.205
the biggest actors were miss were misusing,
1132
01:20:39.305 --> 01:20:40.445
or or miss,
1133
01:20:41.640 --> 01:20:42.220
or ignorantly,
1134
01:20:43.080 --> 01:20:43.580
incompetently
1135
01:20:44.520 --> 01:20:45.740
managing their UTXOs,
1136
01:20:46.280 --> 01:20:47.900
really mainly talk about Coinbase,
1137
01:20:50.015 --> 01:20:54.034
and, to their own detriment. There is the incentive is the opposite,
1138
01:20:55.455 --> 01:21:02.100
and then we had other actors trying to make a bigger problem out of that by sandbagging the mempool even further,
1139
01:21:03.200 --> 01:21:07.495
at their own detrimental, economic detriment as well. They're all lost.
1140
01:21:08.995 --> 01:21:12.614
So I think going forward, people will treat the Bamboo with more respect.
1141
01:21:13.315 --> 01:21:16.349
The block size did essentially double since then,
1142
01:21:18.570 --> 01:21:23.070
and and now we have layer twos, right? Remember, lightning was not around back then,
1143
01:21:26.005 --> 01:21:28.665
and and it I mean, if you look at the lightning
1144
01:21:29.125 --> 01:21:30.425
volume of transactions,
1145
01:21:32.179 --> 01:21:33.320
you can really see
1146
01:21:34.579 --> 01:21:35.880
or at least extrapolate
1147
01:21:37.059 --> 01:21:48.105
how much impact they would have these mempools. I mean, you would probably have made the mempool now full. MBK. If you were trying to make what When is, the CoinKite store gonna accept lightning payments?
1148
01:21:50.460 --> 01:21:51.920
First, we need to do back 32.
1149
01:21:55.545 --> 01:21:57.244
1150
01:22:00.185 --> 01:22:01.804
1151
01:22:03.580 --> 01:22:08.560
I think I think it's important for some nodes out there who are economically,
1152
01:22:09.900 --> 01:22:10.400
viable
1153
01:22:11.085 --> 01:22:12.305
to be using
1154
01:22:12.925 --> 01:22:15.745
old node software that is very restrictive,
1155
01:22:16.845 --> 01:22:22.130
I think it helps defend the network. We want many many nodes out there that are
1156
01:22:23.310 --> 01:22:25.410
using very restrictive old
1157
01:22:26.030 --> 01:22:26.530
stuff.
1158
01:22:27.684 --> 01:22:28.664
I think it
1159
01:22:29.684 --> 01:22:32.025
shows the network you cannot deprecate things,
1160
01:22:33.684 --> 01:22:34.905
and also we're lazy
1161
01:22:35.210 --> 01:22:40.510
and don't wanna put in the time to, change the store. Would you would you agree with me that,
1162
01:22:42.845 --> 01:22:47.665
1163
01:22:49.565 --> 01:22:51.665
1164
01:22:52.030 --> 01:22:53.170
and I'll explain why.
1165
01:22:53.950 --> 01:22:59.250
You know, we're we're not selling, like, you know, $5 things or $1 things. Right?
1166
01:22:59.710 --> 01:23:00.765
We have, like,
1167
01:23:01.245 --> 01:23:03.185
invoices that average between
1168
01:23:03.485 --> 01:23:04.705
500 to a $1,000
1169
01:23:05.325 --> 01:23:08.705
and to be an inbound receiver of all that,
1170
01:23:09.860 --> 01:23:11.000
it will get tricky.
1171
01:23:11.460 --> 01:23:14.120
And we don't wanna be sort of babying,
1172
01:23:15.220 --> 01:23:20.515
that and maintaining all that or paying a third party to provide us liquidity. Right?
1173
01:23:20.895 --> 01:23:22.835
When I can still provide that one
1174
01:23:23.695 --> 01:23:24.915
legacy address
1175
01:23:25.375 --> 01:23:30.190
1176
01:23:32.970 --> 01:23:33.470
1177
01:23:34.570 --> 01:23:35.070
Yeah.
1178
01:23:35.505 --> 01:23:38.565
But but realistically speaking, knowing my customers,
1179
01:23:40.545 --> 01:23:46.650
I think they're all gonna just buy a pile of Sats cards cause they're gonna want different colors and different things.
1180
01:23:47.350 --> 01:23:48.970
So I I doubt,
1181
01:23:49.830 --> 01:23:50.330
maybe,
1182
01:23:52.395 --> 01:23:59.055
maybe we could at some point come up with a separate solution that just handles the cards for single card orders,
1183
01:23:59.595 --> 01:24:02.830
right? So there's like a blended system there somehow.
1184
01:24:04.010 --> 01:24:06.590
Another thing people can do is they can go right now,
1185
01:24:07.450 --> 01:24:12.655
and buy CoinKite gift cards with lightning in one of the 10 platforms that do
1186
01:24:13.034 --> 01:24:14.155
it, and then just,
1187
01:24:14.715 --> 01:24:23.800
1188
01:24:24.679 --> 01:24:34.515
that you don't think we're gonna have a sustained high fee market like we saw previously because services are integrating lightning, but meanwhile, CoinKite has credit cards integrated, but not lightning?
1189
01:24:35.850 --> 01:24:40.350
1190
01:24:41.770 --> 01:24:42.270
and
1191
01:24:43.125 --> 01:24:43.945
and the economic
1192
01:24:44.485 --> 01:24:46.985
sort of size model of our transactions
1193
01:24:47.684 --> 01:24:48.585
does not require
1194
01:24:49.204 --> 01:24:53.350
it, right? But when you have people trying to do, you know, like,
1195
01:24:54.230 --> 01:24:55.050
set streaming
1196
01:24:55.590 --> 01:24:56.090
or,
1197
01:24:56.950 --> 01:24:58.170
buying porn subscription
1198
01:24:58.870 --> 01:24:59.370
or,
1199
01:25:00.230 --> 01:25:01.290
feeding chickens
1200
01:25:02.514 --> 01:25:03.014
or,
1201
01:25:03.635 --> 01:25:04.855
in game stuff,
1202
01:25:05.395 --> 01:25:11.730
that that makes complete sense for lightning, and those transactions that have been economically stupid to be on main chain.
1203
01:25:12.610 --> 01:25:15.590
Right? You don't want that stuff to be on base layer
1204
01:25:16.850 --> 01:25:17.350
because
1205
01:25:17.890 --> 01:25:19.350
those transactions are economically
1206
01:25:20.035 --> 01:25:20.855
nearly irrelevant,
1207
01:25:21.875 --> 01:25:23.495
like, versus block size.
1208
01:25:23.875 --> 01:25:25.015
While our transactions
1209
01:25:25.635 --> 01:25:28.775
are not, not at, say, the next few years,
1210
01:25:29.220 --> 01:25:30.520
you know, eventually,
1211
01:25:31.300 --> 01:25:40.405
everybody's gonna have to be on lightning. But then by that time, I don't think we're gonna have the same issues with liquidity issues on Lightning for transactions of our size.
1212
01:25:41.025 --> 01:25:45.845
1213
01:25:47.239 --> 01:25:47.900
a stopgap.
1214
01:25:49.159 --> 01:25:50.060
1215
01:25:54.565 --> 01:26:00.905
Yeah. No. I I find it it's like you know, especially with all the the the the FUD about the
1216
01:26:01.205 --> 01:26:02.824
the the block reward,
1217
01:26:04.010 --> 01:26:05.710
I find the the conversations
1218
01:26:06.010 --> 01:26:06.910
and the economics
1219
01:26:07.370 --> 01:26:07.870
of,
1220
01:26:09.050 --> 01:26:10.270
the block space
1221
01:26:11.145 --> 01:26:11.645
and,
1222
01:26:12.505 --> 01:26:13.005
Equine's
1223
01:26:14.025 --> 01:26:15.005
supply cap
1224
01:26:15.465 --> 01:26:16.525
to be very,
1225
01:26:19.900 --> 01:26:24.239
like, a lot of fun. Like, these are my preferred things to argue about,
1226
01:26:24.540 --> 01:26:32.725
in Bitcoin. I think they're valid things to talk about, and they're very interesting because they're also very novel. Right? The the Fiat system
1227
01:26:33.425 --> 01:26:35.525
has never had to encounter these issues.
1228
01:26:36.320 --> 01:26:39.540
They have their own sets of of trade offs. So,
1229
01:26:40.480 --> 01:26:45.995
there's a lot to be talked about and tried to figure out so that people can prepare their businesses to to continue.
1230
01:26:51.895 --> 01:26:52.395
Alright.
1231
01:26:54.699 --> 01:26:57.360
Bitcoin core updates from Bitcoin OpTech.
1232
01:26:59.580 --> 01:27:01.360
The Bitcoin core is adding,
1233
01:27:01.739 --> 01:27:04.145
watch only support for output descriptors,
1234
01:27:05.805 --> 01:27:07.105
retaining mini script.
1235
01:27:07.405 --> 01:27:09.665
That's interesting mini scripts are getting used.
1236
01:27:11.850 --> 01:27:12.350
And,
1237
01:27:13.130 --> 01:27:14.830
we can get into details of that,
1238
01:27:15.210 --> 01:27:17.230
and also they are
1239
01:27:18.010 --> 01:27:19.230
updating their GUI
1240
01:27:20.155 --> 01:27:21.855
to be able to restore a backup.
1241
01:27:23.514 --> 01:27:27.880
Before you had to use the CLI, but now you're gonna be able to use the GUI. So so that's
1242
01:27:28.180 --> 01:27:30.360
nice. Two little updates to Bitcoin core.
1243
01:27:32.980 --> 01:27:35.239
Do you guys have any opinions about that?
1244
01:27:40.005 --> 01:27:42.744
1245
01:27:44.005 --> 01:27:48.770
It's it's like a powerful tool both for, like, composing a script, but also if you,
1246
01:27:50.590 --> 01:27:52.645
yeah, like, also interpreting a script.
1247
01:27:53.605 --> 01:27:54.985
So I I just wonder
1248
01:27:55.365 --> 01:27:59.305
what like like, taking a script and figuring out, like, what the spending conditions are there.
1249
01:27:59.685 --> 01:28:00.745
Like, I wonder if,
1250
01:28:01.140 --> 01:28:06.360
yeah, I wonder if people actually use this. Because, like, you know, BDK has been doing a lot of mini script stuff, and,
1251
01:28:06.980 --> 01:28:15.744
like, I'm not sure how much how many, like, exotic use cases have been drummed up yet. Like, not really aware of any exotic use cases yet, that that
1252
01:28:18.770 --> 01:28:22.070
like, that's basically what people use it for right now. Like, mini script is like
1253
01:28:23.170 --> 01:28:24.470
a extension of descriptors,
1254
01:28:25.570 --> 01:28:26.630
and it's mostly
1255
01:28:26.930 --> 01:28:30.525
used as a backup format right now, which is useful, but it's not,
1256
01:28:30.985 --> 01:28:37.910
it's it wasn't the, like, the original intention. The original intention was to be able to produce wallets that had more,
1257
01:28:38.630 --> 01:28:40.250
more complex spending conditions.
1258
01:28:41.990 --> 01:28:42.890
1259
01:28:43.534 --> 01:28:46.914
you know, the output descriptors for multisig is very useful.
1260
01:28:48.894 --> 01:28:53.000
You know, it does help with a lot of the the the the backup especially.
1261
01:28:54.340 --> 01:29:00.520
I think the mini script stuff is really gonna shine once you get into Schnorr and all that stuff and very complex,
1262
01:29:01.364 --> 01:29:01.864
scripts.
1263
01:29:05.364 --> 01:29:07.385
1264
01:29:08.090 --> 01:29:11.150
you couldn't restore a Bitcoin core backup from the GUI
1265
01:29:11.930 --> 01:29:13.150
until now? Yep.
1266
01:29:13.690 --> 01:29:14.190
1267
01:29:15.465 --> 01:29:18.605
1268
01:29:19.945 --> 01:29:21.725
1269
01:29:22.105 --> 01:29:22.905
The problem is, like
1270
01:29:23.720 --> 01:29:29.420
you know, technically speaking, unless you are a developer, you should not be using Bitcoin Core as your wallet.
1271
01:29:29.720 --> 01:29:32.220
You really shouldn't. It was not like I mean,
1272
01:29:32.545 --> 01:29:35.445
you know, it it's it's a product of its time.
1273
01:29:35.905 --> 01:29:38.485
It's a product of its sort of, like,
1274
01:29:40.520 --> 01:29:41.020
intent
1275
01:29:41.880 --> 01:29:42.699
at the time,
1276
01:29:44.520 --> 01:29:51.865
but, you know, there's a reason why Electrum came right after that. You know, I mean, and got, like, huge market share. You
1277
01:29:53.125 --> 01:29:58.740
know, one thing that people may not know is that the name Bitcoin Core came really from Gavin,
1278
01:29:59.440 --> 01:30:05.620
who was, was going to split I don't know if it was his idea. I can't remember whose idea was at the time, but
1279
01:30:05.965 --> 01:30:08.465
there's always been this this intent to split
1280
01:30:09.324 --> 01:30:10.224
the consensus,
1281
01:30:11.085 --> 01:30:13.025
the the all the Bitcoin
1282
01:30:14.260 --> 01:30:15.240
logic stuff
1283
01:30:15.780 --> 01:30:17.080
from the web GUI,
1284
01:30:17.540 --> 01:30:27.075
right? And that essentially never happened. And there is many reasons why that shouldn't happen either, just because it's gonna cause a cluster fuck and just simply don't use Bitcoin Core as a wallet.
1285
01:30:28.015 --> 01:30:35.690
But if you're trying to validate some more complex stuff you're trying to do, maybe having the funds on Bitcoin Core is not a bad idea either.
1286
01:30:37.190 --> 01:30:43.735
So I'd say the Bitcoin Core Wallet should only be used by devs. Everybody else should just use some other wallet.
1287
01:30:44.035 --> 01:30:50.400
It it in my view, it's actually unsafe just because not because the code quality is not amazing, but just because
1288
01:30:51.100 --> 01:30:51.600
the
1289
01:30:52.380 --> 01:30:53.840
the UX of it,
1290
01:30:54.780 --> 01:30:56.080
and its particularities
1291
01:30:57.045 --> 01:30:59.144
are are unsafe for the average user.
1292
01:31:00.244 --> 01:31:07.250
1293
01:31:08.750 --> 01:31:13.730
Like, the standard for showing fee rate in the Bitcoin ecosystem has pretty much
1294
01:31:14.245 --> 01:31:15.945
coalesced on sats per byte.
1295
01:31:16.885 --> 01:31:18.505
But Bitcoin core GUI,
1296
01:31:19.364 --> 01:31:20.505
defaulted to
1297
01:31:20.965 --> 01:31:22.264
bits per kilobyte,
1298
01:31:23.230 --> 01:31:24.770
which is just confusing. Yeah.
1299
01:31:25.550 --> 01:31:29.810
1300
01:31:30.255 --> 01:31:35.235
really is the the the the very, very last mile of the GUI there
1301
01:31:35.775 --> 01:31:37.315
is is not meant for
1302
01:31:37.690 --> 01:31:38.430
average people,
1303
01:31:39.530 --> 01:31:40.430
if we're like.
1304
01:31:43.930 --> 01:31:44.430
Alright.
1305
01:31:45.625 --> 01:31:49.085
Next is Bitcoin Treasury's update. It was a small update.
1306
01:31:49.465 --> 01:31:50.685
Elon has
1307
01:31:51.465 --> 01:31:58.120
Lettuce Hands. I don't have a lot of commentary on this, but I just wanted to point it out that we have updated the bitcoin treasuries.net
1308
01:31:59.460 --> 01:31:59.960
website.
1309
01:32:00.595 --> 01:32:03.335
And now it reflects Tesla reflects
1310
01:32:03.795 --> 01:32:08.295
its, its capacity of holding bitcoin with, 2 emojis.
1311
01:32:10.120 --> 01:32:12.700
I highly recommend checking those emojis out.
1312
01:32:15.960 --> 01:32:17.580
Next here is
1313
01:32:20.055 --> 01:32:23.595
Bitcoin Meshnets, an article By the way, have you noticed
1314
01:32:24.135 --> 01:32:24.875
1315
01:32:25.390 --> 01:32:28.530
have you noticed a lot of selling from the miners recently?
1316
01:32:30.750 --> 01:32:32.050
1317
01:32:33.790 --> 01:32:34.450
I think
1318
01:32:35.685 --> 01:32:37.865
the like, some of the biggest ones,
1319
01:32:38.725 --> 01:32:39.945
were over leveraged,
1320
01:32:41.045 --> 01:32:42.905
so they they dumped to deleveraged
1321
01:32:43.490 --> 01:32:45.250
to deleverage, and I think it stopped.
1322
01:32:45.970 --> 01:32:48.630
I was talking to a a minor friend
1323
01:32:49.090 --> 01:32:51.190
who has a a sizable mine,
1324
01:32:52.585 --> 01:32:59.085
and he told me that because he had a nice strong cash position, he's been buying a lot of small miners out,
1325
01:32:59.800 --> 01:33:02.860
for cheap. So he's having a great ball of a time.
1326
01:33:04.120 --> 01:33:04.860
Hi, Marshall.
1327
01:33:05.320 --> 01:33:10.385
1328
01:33:10.765 --> 01:33:17.645
miners consolidate and only the strong survive. I will say that this cycle has been a little bit more extreme because we have not seen,
1329
01:33:18.580 --> 01:33:24.920
the kind of leverage at play on the minor side as we have this cycle. This cycle was was completely
1330
01:33:26.795 --> 01:33:35.580
dominated by specifically American based miners that were able to get cheap debt to buy more miners, and a lot of times that debt was collateralized by ASICs
1331
01:33:35.980 --> 01:33:38.080
themselves. So the machines were the collateral,
1332
01:33:38.940 --> 01:33:41.760
which we've never really seen before in previous cycles.
1333
01:33:42.460 --> 01:33:47.175
1334
01:33:48.435 --> 01:33:50.935
Bitcoin back lending, generally speaking, right,
1335
01:33:51.795 --> 01:33:55.720
and I think a lot of Bitcoiners got caught off guard with their margins.
1336
01:33:57.860 --> 01:34:00.520
I think people learn how to handle,
1337
01:34:01.620 --> 01:34:02.840
margins and leverage
1338
01:34:03.495 --> 01:34:06.955
a little better. Not that I don't believe most people were seeking
1339
01:34:07.255 --> 01:34:08.795
leverage for leverage sake.
1340
01:34:09.495 --> 01:34:11.355
I think people were just sort of
1341
01:34:12.240 --> 01:34:15.700
trying to find ways to not sell Bitcoin and find fiat.
1342
01:34:16.400 --> 01:34:23.965
Cost of capital was very low last year, so the interest rates were very low for this Bitcoin backed loans as well, and a lot of those went to miners,
1343
01:34:25.945 --> 01:34:32.790
on top of the ASIC backed my backed loans as well. But that's all part of the same bundle of, extremely low collateral,
1344
01:34:34.290 --> 01:34:35.430
capital cost,
1345
01:34:36.450 --> 01:34:38.790
that that has sort of, like, increased substantially
1346
01:34:39.315 --> 01:34:41.014
in the last few months.
1347
01:34:43.635 --> 01:34:48.614
You know, I I think the space is sort of like learning the lessons as it goes. Right? I mean, it's
1348
01:34:49.300 --> 01:34:56.520
it's not easy to break new ground, especially in economics. It's not it's not easy for people to learn how to
1349
01:34:57.065 --> 01:34:57.965
to manage,
1350
01:34:59.065 --> 01:35:03.485
these extremely volatile savings accounts that they have, which is Bitcoin.
1351
01:35:05.600 --> 01:35:08.720
It takes time and it takes some mistakes, but, people will,
1352
01:35:09.520 --> 01:35:10.740
people will figure it out.
1353
01:35:11.955 --> 01:35:20.455
You know, running a Bitcoin company, running a mining company, so essentially Bitcoin company, it's the equivalent of having a directional trade.
1354
01:35:21.060 --> 01:35:21.800
That means,
1355
01:35:22.260 --> 01:35:25.560
you know, when things go good, you do
1356
01:35:25.940 --> 01:35:29.639
extra good, and when thing goes bad, you go extra bad.
1357
01:35:30.415 --> 01:35:34.835
That is that is the biggest issue with having a directional trade. Right? So
1358
01:35:35.535 --> 01:35:36.355
if you,
1359
01:35:37.055 --> 01:35:41.200
if you're earning bitcoin and you also sell things for Bitcoin,
1360
01:35:42.300 --> 01:35:53.585
I mean, you're double fucked when the Bitcoin price goes down and you do, you know, incredibly well when the price goes up. So trying to find a balance of a USD cash position
1361
01:35:54.205 --> 01:36:09.465
or or how you hedge that is not easy. And small businesses are also not, you know, they're just simply not sophisticated enough to the trading, and they shouldn't be. Right? Or or to to figure out just how to to to hedge things even if it's not directly trading.
1362
01:36:10.005 --> 01:36:14.185
It's not an easy problem, and it's a problem that every single Bitcoin company will have.
1363
01:36:21.199 --> 01:36:21.699
Alright.
1364
01:36:22.320 --> 01:36:25.139
So the the Bitcoin mesh nets article by Lola.
1365
01:36:25.705 --> 01:36:29.405
Matt, I imagine, you probably seen this one.
1366
01:36:32.344 --> 01:36:35.869
1367
01:36:36.570 --> 01:36:43.035
That's right. The print magazine, by the way, this this month has, this quarter, their quarterly magazines is
1368
01:36:43.675 --> 01:36:46.655
absolutely phenomenal. It's called the censorship resistant up,
1369
01:36:47.275 --> 01:36:47.775
edition,
1370
01:36:48.395 --> 01:36:48.795
and,
1371
01:36:50.075 --> 01:36:52.730
the Canadian truckers are on the front, This is really
1372
01:36:53.110 --> 01:36:53.930
good to see.
1373
01:36:56.070 --> 01:36:56.890
1374
01:36:57.590 --> 01:37:06.565
I mean, Bitcoin Magazine has been killing it with being Bitcoin only with the right ethos in the last sort of couple years now. Right? I mean, they really turned the magazine around.
1375
01:37:07.000 --> 01:37:11.100
Props to to David Bailey and, CK and and all the folks there.
1376
01:37:12.280 --> 01:37:13.500
They they've been a
1377
01:37:14.345 --> 01:37:17.645
power of good in the Bitcoin space, I I gotta say.
1378
01:37:18.985 --> 01:37:21.805
So yeah. So they're running a conference in, in Amsterdam.
1379
01:37:22.670 --> 01:37:27.090
Go buy tickets. I'm sure they would appreciate, ticket sales. It's b.tc/it'sb.tc/conference,
1380
01:37:31.945 --> 01:37:33.245
1381
01:37:33.945 --> 01:37:35.405
But just go back to Lola's,
1382
01:37:36.265 --> 01:37:36.765
piece.
1383
01:37:38.430 --> 01:37:41.090
It's not it's not just a theoretical piece.
1384
01:37:42.430 --> 01:37:44.290
Her and the RGB folks
1385
01:37:44.750 --> 01:37:47.885
have been working in Ukraine to get mesh nets up because,
1386
01:37:48.284 --> 01:37:52.144
the Russians have cut a lot of their Internet over there.
1387
01:37:52.684 --> 01:38:01.330
And and the general premise of mesh nets is a super promising premise, which is this idea that you have distributed nodes that are communicating directly with each other,
1388
01:38:01.710 --> 01:38:04.770
to set up basically these ad hoc networks that don't require,
1389
01:38:05.470 --> 01:38:07.010
existing Internet infrastructure.
1390
01:38:07.645 --> 01:38:13.265
And then if one of them is able to connect out to the the global Internet, whether that's through a hard line
1391
01:38:13.725 --> 01:38:20.460
or something like Starlink, then the whole mesh net, also has that Internet access through that, gateway.
1392
01:38:21.639 --> 01:38:22.139
1393
01:38:22.599 --> 01:38:25.785
here's an interesting thing that most people may not know.
1394
01:38:26.165 --> 01:38:27.785
With standard power
1395
01:38:28.325 --> 01:38:36.180
Wi Fi with a directional antenna that you could go and buy or build it yourself, you can get almost 10 kilometers in line of sight,
1396
01:38:36.960 --> 01:38:38.260
with decent bandwidth,
1397
01:38:39.200 --> 01:38:41.380
and and, reliability. So,
1398
01:38:42.125 --> 01:38:46.945
Wi Fi itself as is, is available in every device and is extremely powerful,
1399
01:38:47.325 --> 01:38:50.145
if you just sort of use it in the right way.
1400
01:38:51.800 --> 01:38:52.300
Meshnets
1401
01:38:52.680 --> 01:38:53.180
themselves,
1402
01:38:54.600 --> 01:38:55.980
are not an easy problem,
1403
01:38:56.680 --> 01:38:58.620
finding that that doing the packet
1404
01:39:00.755 --> 01:39:03.974
redirecting and management is not a simple problem.
1405
01:39:04.755 --> 01:39:06.135
Is also one of those
1406
01:39:06.520 --> 01:39:08.700
projects that because there isn't,
1407
01:39:09.400 --> 01:39:11.500
or at least till now,
1408
01:39:11.800 --> 01:39:14.620
maybe coming soon there will be, but
1409
01:39:15.165 --> 01:39:16.865
there just isn't enough,
1410
01:39:17.405 --> 01:39:20.465
economic incentive for somebody to go and build out.
1411
01:39:21.165 --> 01:39:24.065
All the solutions are not easy solutions, and
1412
01:39:24.400 --> 01:39:28.659
and then you bump into state actor problems based on licensing for the radios,
1413
01:39:29.840 --> 01:39:34.515
even for Wi Fi. If you you know, the way licensing works in most,
1414
01:39:34.975 --> 01:39:35.955
western world
1415
01:39:36.335 --> 01:39:36.815
is,
1416
01:39:37.135 --> 01:39:38.195
it's type approved.
1417
01:39:39.055 --> 01:39:42.115
So that means when you create a a radio device,
1418
01:39:43.170 --> 01:39:43.990
that device
1419
01:39:44.530 --> 01:39:45.030
is
1420
01:39:45.410 --> 01:39:48.470
licensed for that specific purpose, at that specific
1421
01:39:49.330 --> 01:39:56.305
power, at that specific everything. And if you change just a single parameter on it or you tweak the antenna or whatever,
1422
01:39:57.005 --> 01:39:58.864
the license is lost. Right?
1423
01:39:59.170 --> 01:40:02.469
So it's very difficult for a professional manufacturer,
1424
01:40:04.050 --> 01:40:09.895
to sell a device that is that goes against what the state wants, really.
1425
01:40:11.315 --> 01:40:17.155
And that's for many reasons, good and bad. Right? Like, radio is kind of a a common good. Let's put it this way. The the the spectrum is freely available in the universe,
1426
01:40:22.027 --> 01:40:22.527
a
1427
01:40:25.645 --> 01:40:28.385
a dickhead with a a a an amp,
1428
01:40:29.165 --> 01:40:29.665
completely
1429
01:40:30.364 --> 01:40:30.864
disturbing,
1430
01:40:31.485 --> 01:40:32.864
everybody else's transmission.
1431
01:40:33.165 --> 01:40:44.030
Right? So it's complicated that way. That's why they're so hardcore about Spectrum as well. And then there is all the issues of monopolies and blah blah blah. But my point, generally speaking on this, is just that,
1432
01:40:45.435 --> 01:40:48.095
it's gonna be hard for you to see meshnet
1433
01:40:49.355 --> 01:40:49.855
quality
1434
01:40:50.315 --> 01:40:51.935
professional radio solutions
1435
01:40:52.600 --> 01:40:56.460
out in the market that don't require, at a minimum, a ham radio license
1436
01:40:56.840 --> 01:40:59.260
just because manufacturers don't wanna go to jail.
1437
01:41:00.864 --> 01:41:03.925
But, but I have I have a good sort
1438
01:41:04.465 --> 01:41:07.445
of optimism in the fact that you will see better
1439
01:41:08.090 --> 01:41:10.989
home brew solutions that are very, very
1440
01:41:11.370 --> 01:41:18.505
1441
01:41:20.405 --> 01:41:30.350
which Well, you do because the manufacturers are not creating that amazing plug and play solution. Right. Right. Right. Of course. Yeah. That makes sense. But And then it's not out of the box.
1442
01:41:31.050 --> 01:41:33.790
Exactly. You're building it yourself for the most part.
1443
01:41:34.695 --> 01:41:36.875
1444
01:41:37.335 --> 01:41:41.835
where stuff gets lower bandwidth but way more interesting distance and power wise,
1445
01:41:42.910 --> 01:41:43.970
then it's internationally,
1446
01:41:45.950 --> 01:41:47.170
managed by ITU.
1447
01:41:48.750 --> 01:41:55.885
So for example, you know, one thing that I'd love Bitcoiners to do in the next bull cycle is go to failed states,
1448
01:41:56.665 --> 01:41:58.045
and buy their AM,
1449
01:41:58.985 --> 01:41:59.485
stations,
1450
01:42:00.380 --> 01:42:04.480
that are licensed for that country or whatever, and then just broadcast blocks.
1451
01:42:06.140 --> 01:42:07.840
And then, maybe even
1452
01:42:08.185 --> 01:42:13.965
we we find a way of getting, an AM station in North America that can do that with the correct license. Right?
1453
01:42:14.825 --> 01:42:18.179
You would find a lot a lot of, interesting
1454
01:42:18.960 --> 01:42:20.659
things possible that way because
1455
01:42:21.119 --> 01:42:23.060
if you are broadcasting on AM,
1456
01:42:23.520 --> 01:42:25.380
on an AM band, for example,
1457
01:42:25.955 --> 01:42:28.855
you could have a device that costs, say, like,
1458
01:42:29.635 --> 01:42:30.135
maybe
1459
01:42:30.435 --> 01:42:30.935
$3,
1460
01:42:31.315 --> 01:42:33.175
$5 receiving blocks
1461
01:42:33.715 --> 01:42:34.935
with minimum power.
1462
01:42:36.920 --> 01:42:41.340
And, and then that's it, really. I mean, like, you're really at next level decentralization.
1463
01:42:43.764 --> 01:43:01.935
1464
01:43:04.635 --> 01:43:06.900
1465
01:43:08.500 --> 01:43:11.719
So so, you know, I am I am set up for
1466
01:43:12.260 --> 01:43:13.400
for HF here.
1467
01:43:13.940 --> 01:43:17.114
I can I can definitely broadcast my blocks if I need to?
1468
01:43:18.775 --> 01:43:27.580
And, the law on Ham Radio is very clear. In an emergency. I mean, technically you are entitled to do it if that would save somebody's life.
1469
01:43:30.195 --> 01:43:30.695
And,
1470
01:43:31.955 --> 01:43:38.295
we are working on a radio, but that would not be for Bitcoin. That would be for general purpose digital use,
1471
01:43:39.950 --> 01:43:42.530
and, that that could be interesting as well.
1472
01:43:45.550 --> 01:43:51.574
Yeah. I mean, Fedimint should look into doing some of that stuff because you guys are gonna go straight to, to 3rd world. Right?
1473
01:43:52.114 --> 01:43:52.614
So
1474
01:43:54.034 --> 01:43:59.150
maybe maybe you guys find a country that's friendly towards that and you can do the development there.
1475
01:44:03.585 --> 01:44:06.485
1476
01:44:07.665 --> 01:44:08.165
1477
01:44:10.700 --> 01:44:13.200
Gloria Zhao added as a Bitcoin core maintainer,
1478
01:44:13.739 --> 01:44:16.320
I just felt like we should just mention it.
1479
01:44:16.780 --> 01:44:20.595
She now has commit access to a Bitcoin repo. Reminder everybody,
1480
01:44:21.215 --> 01:44:26.515
Bitcoin core is not Bitcoin, it's just a group of people who tend to be
1481
01:44:28.139 --> 01:44:30.080
accepted as the main implementation.
1482
01:44:33.420 --> 01:44:42.345
There is no formal process for picking who's the next person, probably a good thing too because if you have a proper process it means people have a proper loophole.
1483
01:44:43.400 --> 01:44:48.060
So I like I like that this thing is messy, and it should stay messy for a little longer.
1484
01:44:49.159 --> 01:44:51.580
And then eventually I'm sure we'll come up with some
1485
01:44:52.845 --> 01:45:04.340
1486
01:45:04.960 --> 01:45:07.680
So, ultimately, it's up to you whether or not you update,
1487
01:45:10.135 --> 01:45:13.595
Bitcoin that you are running on your on your computers and on your nodes.
1488
01:45:15.255 --> 01:45:19.250
But and and I I will say that Gloria is just absolutely
1489
01:45:19.550 --> 01:45:22.930
awesome. She's a great person. She has a really good understanding of Bitcoin,
1490
01:45:24.350 --> 01:45:29.635
and she's just I have I have a ton of respect for her. So I I think she's a great great choice here,
1491
01:45:30.575 --> 01:45:32.835
to to jump into that maintainer role.
1492
01:45:33.535 --> 01:45:38.660
But I I will say that where I disagree with you is it'd be nice if there was a little bit more,
1493
01:45:39.840 --> 01:45:41.780
I don't know, objectivity or
1494
01:45:42.560 --> 01:45:45.940
transparency in in the selection process. It was kinda like,
1495
01:45:47.605 --> 01:45:52.585
Peter Peter stepped down, and then within, like, the same day, it was like, okay. Gloria's in.
1496
01:45:52.965 --> 01:46:00.199
Bam. Bam. Bam. Yeah. And, like, you know what happened in, like, private chats were was where they were discussing it. Exactly. Everything happens in private. Right? But
1497
01:46:00.660 --> 01:46:05.925
1498
01:46:08.085 --> 01:46:08.525
open,
1499
01:46:08.965 --> 01:46:10.425
people would start,
1500
01:46:11.125 --> 01:46:12.905
like, you know, like an unwanted
1501
01:46:13.590 --> 01:46:15.929
sort of war over this for no reason,
1502
01:46:16.389 --> 01:46:16.889
where
1503
01:46:17.750 --> 01:46:18.570
just simply
1504
01:46:18.949 --> 01:46:22.489
snuffing things off and just like, hey, well, here's a new contributor.
1505
01:46:22.995 --> 01:46:24.295
It makes it unimportant
1506
01:46:25.155 --> 01:46:26.455
and being unimportant
1507
01:46:27.395 --> 01:46:28.455
is a feature,
1508
01:46:28.995 --> 01:46:29.495
it's
1509
01:46:30.035 --> 01:46:31.015
a nice defense.
1510
01:46:34.180 --> 01:46:36.520
1511
01:46:37.460 --> 01:46:38.600
1512
01:46:40.445 --> 01:46:43.745
1513
01:46:44.285 --> 01:46:45.105
you're proposed
1514
01:46:45.405 --> 01:46:50.460
as a contributor, and then people can act it or knack it like anything else. And,
1515
01:46:51.080 --> 01:46:55.580
I know in Gloria's case, there was there was at least one NAC that I saw,
1516
01:46:56.815 --> 01:46:58.835
but it was largely, you know, positive.
1517
01:46:59.135 --> 01:47:03.555
You know, and there every once in a while, there's a MAC. MAC just means, like, no. MAC means yes.
1518
01:47:04.320 --> 01:47:17.205
There's there was, you know, almost everybody was okay with it who was, like, an actual contributor. So there is a bit you know, there's a at least there there's, like, a sort of a confirmation process where, like, if if somebody in a in a chat got proposed that,
1519
01:47:17.905 --> 01:47:23.605
you know, wouldn't be popular with the people contributing to the project, where the where the
1520
01:47:23.960 --> 01:47:28.780
contribution disagree with it, that just wouldn't, they wouldn't get, like, kinda confirmed, so to speak.
1521
01:47:30.440 --> 01:47:30.940
1522
01:47:31.880 --> 01:47:33.100
I I you know,
1523
01:47:34.505 --> 01:47:41.165
I it's such a tankless job that it'll probably be hard to find somebody who wants to do it to begin with.
1524
01:47:45.570 --> 01:47:49.030
1525
01:47:50.505 --> 01:47:55.165
over the years, you you realize a lot of you people are. Yeah. It is a very painful job.
1526
01:47:57.990 --> 01:48:00.650
1527
01:48:03.190 --> 01:48:04.410
So congrats Gloria.
1528
01:48:08.845 --> 01:48:12.865
And now the well, I have some links there to the
1529
01:48:14.480 --> 01:48:15.780
to the OphTech,
1530
01:48:16.160 --> 01:48:21.780
newsletters. I highly recommend people, subscribe to them. They have way more meat than this podcast.
1531
01:48:25.295 --> 01:48:25.795
And,
1532
01:48:27.054 --> 01:48:30.275
I I'm still not capable of
1533
01:48:31.020 --> 01:48:34.080
looking at the Bitcoin dev mailing list because
1534
01:48:34.940 --> 01:48:38.800
the long term block reward discussion is an absolute
1535
01:48:39.500 --> 01:48:40.000
no.
1536
01:48:41.965 --> 01:48:43.985
And, oh, it was pretty funny.
1537
01:48:44.845 --> 01:48:48.305
Maxwell, Greg Maxwell did write a big piece
1538
01:48:49.180 --> 01:48:54.320
on the I don't think he ever wrote anything small, but, you know, like a nice wall of text,
1539
01:48:55.180 --> 01:48:55.680
about
1540
01:48:56.219 --> 01:49:01.835
the the tail the tail emissions on the Bitcoin talk. If you're new to Bitcoin,
1541
01:49:02.455 --> 01:49:06.350
you may not know that Bitcoin talk is where is a PHPBB
1542
01:49:07.050 --> 01:49:07.550
forum
1543
01:49:08.250 --> 01:49:11.390
where, everything Bitcoin was talked back in the day,
1544
01:49:12.170 --> 01:49:13.950
and it's still being used by many
1545
01:49:15.515 --> 01:49:17.614
who are into that format of discussion.
1546
01:49:18.715 --> 01:49:22.975
And you'll find many, fun nuggets by, Maxwell there.
1547
01:49:24.020 --> 01:49:25.000
So he recently
1548
01:49:25.780 --> 01:49:29.720
decided to to tear at Todd's suggestion. Remember when we paid
1549
01:49:30.875 --> 01:49:32.574
1550
01:49:33.594 --> 01:49:40.860
to to create a new Bitcoin talk for him, and he decided he was gonna make a completely new forum stack, and then we're still on the same
1551
01:49:41.560 --> 01:49:43.580
Bitcoin talk that we've had for the last
1552
01:49:44.120 --> 01:49:49.500
1553
01:49:49.865 --> 01:49:54.685
that, Teamazoo still released the new forums. How can I do now? 2 weeks.
1554
01:49:55.545 --> 01:50:00.950
2 weeks. And I heard that they're partnering up with, BFL and Obelisk to deliver the miners.
1555
01:50:03.170 --> 01:50:08.745
1556
01:50:09.545 --> 01:50:13.005
Bitcoin talk fund, but a lot of people did. There was a lot of Bitcoin in there.
1557
01:50:13.385 --> 01:50:17.060
1558
01:50:18.160 --> 01:50:22.580
Well, at the time, it was not that much money, but still. Can't build new forum software.
1559
01:50:22.960 --> 01:50:24.935
1560
01:50:25.635 --> 01:50:28.295
1561
01:50:32.449 --> 01:50:32.949
Anyways
1562
01:50:33.250 --> 01:50:37.829
1563
01:50:38.449 --> 01:50:38.949
1564
01:50:40.155 --> 01:50:47.455
Okay. So I was going to talk about the the hiring part after the noteworthy, but we already mentioned that FETI and Coinkite are hiring
1565
01:50:47.960 --> 01:50:53.739
some people. But there is more Bitcoin companies hiring a lot of people, and these are great companies to work for.
1566
01:50:54.360 --> 01:50:57.835
There is this great place to look for Bitcoin jobs, which is bitcoinerjobs.com.
1567
01:51:00.375 --> 01:51:02.235
I think it's worth filling their website.
1568
01:51:03.014 --> 01:51:04.954
They don't charge for people to list jobs,
1569
01:51:05.800 --> 01:51:12.300
and, there's a lot of great positions there and fun companies to work for. So if you wanna if you wanna work for people,
1570
01:51:13.445 --> 01:51:18.905
if you're looking for a job, if you're looking to get out of your shitty job or your great job for a shitty job,
1571
01:51:19.605 --> 01:51:20.744
check out bitcoinerjobs.com.
1572
01:51:22.840 --> 01:51:24.380
They don't pay me for this ad.
1573
01:51:26.840 --> 01:51:27.340
Alright.
1574
01:51:28.119 --> 01:51:29.179
Bitcoin events.
1575
01:51:31.195 --> 01:51:33.935
Matt was sending me a list of a bunch
1576
01:51:34.315 --> 01:51:41.410
of Bitcoin Park Nashville events. Do you wanna mention some of them, Matt? Yeah. So, I mean, we have a big August at Bitcoin Park,
1577
01:51:42.190 --> 01:51:45.570
1578
01:51:47.685 --> 01:51:49.625
In August, we have,
1579
01:51:50.805 --> 01:51:55.465
our meetup, which is focused on digital footprint and privacy is on August 10th.
1580
01:51:57.270 --> 01:52:02.490
Right before that so that's open to the public. You can find all these events at nash bitcoiners.com.
1581
01:52:04.785 --> 01:52:08.325
And then right before that, we have a builders in Bitcoin workshop,
1582
01:52:08.785 --> 01:52:10.165
which is focused on
1583
01:52:10.545 --> 01:52:12.405
different projects in the Bitcoin space.
1584
01:52:13.030 --> 01:52:16.090
Basically, do demos for a smaller group of people.
1585
01:52:16.790 --> 01:52:19.690
The following day, we have a digital identity workshop,
1586
01:52:20.745 --> 01:52:21.885
on August 11th.
1587
01:52:23.305 --> 01:52:26.605
And then we have Rockstar has decided,
1588
01:52:27.625 --> 01:52:28.125
prolific
1589
01:52:28.560 --> 01:52:31.380
Bitcoin developer, a contributor to BTC pay server,
1590
01:52:32.480 --> 01:52:37.440
and one of the leads at strike, rock star dev, has decided he's gonna kill his NIM.
1591
01:52:38.415 --> 01:52:39.795
So he's having a funeral
1592
01:52:40.175 --> 01:52:44.515
at Bitcoin Park on Saturday, August 13th. A lot of people are flying in for that.
1593
01:52:45.375 --> 01:52:47.145
And then this one is farther off,
1594
01:52:48.000 --> 01:52:52.820
in the distance, but I wanna put on everyone's radar. We are doing the Nashville Energy and Mining Summit
1595
01:52:53.440 --> 01:52:59.015
on January 12th, to start off the new year. We've had 2 previous meetups
1596
01:52:59.395 --> 01:53:03.015
that were focused on mining that we've had over 250 people.
1597
01:53:03.955 --> 01:53:10.159
Very strong people in the mining community and the energy community come from around the world to attend, so we're gonna do a bigger event,
1598
01:53:10.699 --> 01:53:12.880
in January that is a 2 day event.
1599
01:53:14.095 --> 01:53:14.995
1600
01:53:16.095 --> 01:53:17.555
1601
01:53:18.415 --> 01:53:18.915
TabConf.
1602
01:53:21.030 --> 01:53:21.530
Michael,
1603
01:53:22.070 --> 01:53:25.290
does a great job with this conference. It's a more technical conference,
1604
01:53:26.389 --> 01:53:29.610
that is friendly to people that are not technical, which is kinda cool.
1605
01:53:30.535 --> 01:53:38.315
He is looking for more sponsors. This is a a product of passion. It's not like a big commercial enterprise sort of running it.
1606
01:53:38.710 --> 01:53:42.090
So if you're a Bitcoin company that have some bucks to spare,
1607
01:53:43.110 --> 01:53:43.429
do,
1608
01:53:43.989 --> 01:53:45.690
go and sponsor TabConf.
1609
01:53:47.365 --> 01:53:50.745
1610
01:53:51.605 --> 01:53:52.905
Tab Conf is awesome.
1611
01:53:53.285 --> 01:53:54.105
That's tabconf.com,
1612
01:53:55.125 --> 01:54:00.420
and that stands for the Atlanta Bitcoin Conference that's happening in October. It's at Great conference. Yeah.
1613
01:54:01.360 --> 01:54:01.860
1614
01:54:06.585 --> 01:54:11.244
So, yeah, I wish I could attend, but the timing is not gonna it's not gonna work for me.
1615
01:54:12.960 --> 01:54:15.060
But we are we are helping them with sponsorship.
1616
01:54:16.640 --> 01:54:20.580
And, so yeah. So Bitblock Boom is happening next month in August.
1617
01:54:21.375 --> 01:54:24.995
So, that is that is an awesome, awesome conference.
1618
01:54:25.695 --> 01:54:27.155
Highly recommend people go.
1619
01:54:29.100 --> 01:54:33.360
And, what else what else is happening anytime soon for for events?
1620
01:54:35.020 --> 01:54:36.239
1621
01:54:37.275 --> 01:54:43.215
1622
01:54:43.755 --> 01:54:45.840
1623
01:54:46.219 --> 01:54:51.119
4th through 6th, I think, or something like that. September 3rd through 5th. There you go. Latvia.
1624
01:54:51.420 --> 01:54:52.400
Beautiful city.
1625
01:54:52.885 --> 01:54:59.465
Great people. Everyone speaks English. Super cheap. Awesome conference. Really great conference run by the Huddl Huddl guys.
1626
01:55:00.139 --> 01:55:01.679
I think that's, baltichoneybadger.com.
1627
01:55:02.860 --> 01:55:11.804
I just if you duck duck go or Google or whatever, Baltic Honey Badger, it'll come up. I think we have a link on the previous episode notes as well.
1628
01:55:14.105 --> 01:55:16.525
1629
01:55:17.820 --> 01:55:29.965
the bit devs, meetups, and all the other meetups are picking up a lot now. They're doing a very good job at sort of advertising themselves, so I don't have a list of them here. If you are a meet up organizer and you want us to mention your show
1630
01:55:30.585 --> 01:55:32.205
sorry, your show, your event,
1631
01:55:33.240 --> 01:55:33.640
just,
1632
01:55:34.840 --> 01:55:39.180
just just please let me know. You know? Go to bitcoin dot review,
1633
01:55:40.625 --> 01:55:49.204
and submit your event story or whatever, or go to the Telegram that you created for this and let us know there or email me, whatever. Just
1634
01:55:49.840 --> 01:55:51.940
do let us know so we can mention it,
1635
01:55:52.560 --> 01:55:53.060
because
1636
01:55:53.360 --> 01:55:56.980
like there's a lot of people out there that don't know how to find these things.
1637
01:55:59.684 --> 01:56:01.385
Yeah. So with that,
1638
01:56:01.764 --> 01:56:02.645
I think we've,
1639
01:56:03.045 --> 01:56:03.545
successfully
1640
01:56:04.965 --> 01:56:06.585
read the list. I think we
1641
01:56:06.960 --> 01:56:08.099
successfully did it boringly,
1642
01:56:09.679 --> 01:56:12.020
but I think, I think we've reached
1643
01:56:12.400 --> 01:56:14.340
we've reached the point of the show now
1644
01:56:14.875 --> 01:56:19.534
where, we say our goodbyes unless you guys have any other updates that I may have missed.
1645
01:56:28.880 --> 01:56:29.860
1646
01:56:31.365 --> 01:56:34.825
1647
01:56:35.365 --> 01:56:37.785
1648
01:56:38.700 --> 01:56:40.160
I, I say goodbye.
1649
01:56:41.100 --> 01:56:43.520
1650
01:56:44.860 --> 01:56:47.280
Go ahead. Sorry, NVK. Sorry, listeners.
1651
01:56:47.945 --> 01:56:48.765
Sorry, Justin.
1652
01:56:50.105 --> 01:56:51.645
I spent the last weekend,
1653
01:56:53.145 --> 01:56:54.525
in Crawford, Colorado
1654
01:56:55.599 --> 01:56:57.699
at a Bitcorners family ranch.
1655
01:56:58.480 --> 01:57:00.020
His name is Jason Reich.
1656
01:57:01.199 --> 01:57:04.179
That was for the beef initiative, beef initiative dot com.
1657
01:57:05.005 --> 01:57:06.665
It was a really special experience.
1658
01:57:07.844 --> 01:57:13.145
Him and his family treated us like family, hosted us on their ranch. There was about a 100 of us.
1659
01:57:13.490 --> 01:57:19.750
We talked about ranching. We talked about food. We talked about child raising. We talked about Bitcoin. We talked about proof of work.
1660
01:57:21.355 --> 01:57:25.295
It was just a fantastic experience. They're gonna have another event in Georgia
1661
01:57:25.835 --> 01:57:27.054
at White Oak Pastures,
1662
01:57:27.835 --> 01:57:29.855
in September. That's coming up.
1663
01:57:30.440 --> 01:57:31.980
But in general, this is
1664
01:57:32.440 --> 01:57:33.580
a really great initiative,
1665
01:57:34.600 --> 01:57:36.780
that Bitcoiners should pay attention to.
1666
01:57:37.605 --> 01:57:38.344
I think,
1667
01:57:38.725 --> 01:57:45.705
the topics are broad, but they're intimately aligned, with each other in in terms of of the new world we're trying to
1668
01:57:48.090 --> 01:57:50.510
empower or make possible. So
1669
01:57:50.810 --> 01:57:54.830
shout out to everyone who was involved with that. It was a really truly humbling experience,
1670
01:57:55.235 --> 01:57:57.655
and I just wanna say that I did a Bitcoin 101.
1671
01:57:58.434 --> 01:58:00.375
In 15 minutes, I onboarded,
1672
01:58:01.315 --> 01:58:03.074
50 ranchers, which was a pretty,
1673
01:58:03.980 --> 01:58:05.040
impressive feat.
1674
01:58:07.580 --> 01:58:08.400
1675
01:58:09.340 --> 01:58:11.360
I saw a lot of the the,
1676
01:58:12.204 --> 01:58:17.744
like, some buzz about it on on Twitter and stuff, and it seems like, people were having a great time there.
1677
01:58:22.540 --> 01:58:23.040
Alright.
1678
01:58:24.780 --> 01:58:35.905
So I think, I think we've covered, we we did good. I think the last episode was about 2 weeks ago. So, maybe maybe we do this in another couple weeks depending on the on the volume of stuff.
1679
01:58:37.170 --> 01:58:45.990
I wanted to I did a little bit early instead of 3 weeks because there was there was enough stuff, and I wanted us to be able to give enough time for for each thing.
1680
01:58:47.625 --> 01:58:52.045
Thank you so much for for you guys helping with this. It's a pleasure having you guys as guests,
1681
01:58:53.065 --> 01:58:55.645
and, for anywhere else, thanks for listening.
1682
01:58:58.610 --> 01:59:02.950
1683
01:59:03.490 --> 01:59:03.990
Cheers.
1684
01:59:07.235 --> 01:59:08.215
1685
01:59:12.275 --> 01:59:12.775
