@kristovatlas @slushcz I can offer a solution to this problem if you can find me :-)
@Aquentson Capital costs are known; as for HODLing, some miners have stated it. If you want cryptographic proof of HODL, we don’t have that.
Miners secure network via Proof of Work, but also have a huge stake (capital investment & coins held) in Bitcoin’s success. #ScalingBitcoin
@_marty_jones @Ethan_Heilman @el33th4xor Hubs would likely have unused keys available - they’d need them to establish new outgoing channels.
“With a timestamping proof format, we can service all global timestamping needs with only 1 txn per block.” - @RCasatta #ScalingBitcoin
@Ethan_Heilman @el33th4xor If everything is working as intended, would be better to target privkeys not being used in a channel.
“2% of daily bitcoin transactions are currently using OP_RETURN; likely half are for timestamping purposes.” - @RCasatta #ScalingBitcoin
kyletorpey “I think [sidechains] are anti-scam technology.” - @Truthcoin #ScalingBitcoin
@el33th4xor I suspect that large LN hubs will be natural targets for both hacking (for hot wallets) and DoS (for ransom?)
“Why do we want many bitcoin nodes that are cheap to operate? Redundancy, security, and sovereignty.” - @Truthcoin #ScalingBitcoin
“Monetary networks are inherently adversarial. They don’t play nice; they want to kill each other.” - @Truthcoin #ScalingBitcoin
“Everyone should use BIP69, canonical ordering of inputs and outputs.” - @tdryja #ScalingBitcoin H/T @kristovatlas! https://t.co/JjvXXZWGg3
@el33th4xor I don’t think it can be predicted with confidence; won’t know until it’s built. But if any nodes get too big, just DoS them!
Payment channels must be watched by a full node, but this can be outsourced to 3rd parties securely & privately. - @tdryja #ScalingBitcoin
“Using Sphinx for onion routing on @lightning network adds privacy by blinding messages between each hop.” - @roasbeef
“Decoupling dependencies like consensus, DB, networking, w/separate interfaces can make it easier for devs to use Bitcoin.” - @eric_lombrozo
“The user experience for Bitcoin currently sucks; developing applications on top of it is even more challenging.” -@Melt_Dem #ScalingBitcoin
“Bitcoin is inherently social software, but we can’t decouple the technological issues from the social issues.” - @Melt_Dem #ScalingBitcoin
“There are serious bottlenecks to getting code added to Bitcoin Core; not many reviewers available.” - @eric_lombrozo #ScalingBitcoin
@drwasho There are different approaches to increase privacy; CoinJoin / ZK Proofs / CTs increase blockchain data but MW / LN decrease it.
“With Sinking Signatures, can reduce 500,000 blockchain to 300 blocks, 1MB of headers, verifiable in 20s.” - Andrew Poelstra #ScalingBitcoin
“MimbleWimble blockchain verification just requires block headers + current UTXO set + range proofs for each output.” - Andrew Poelstra
MimbleWimble, like Bitcoin, was invented by an anonymous author using pseudonym “Tom Elvis Jedusor” (Lord Voldemort) https://t.co/C6eJ0C1lvJ
MimbleWimble is a blockchain design that’s massively prunable - it offers improved scalability & privacy at cost of removing script support.
“TumbleBit uses RSA blinding to create unlinkable HLTCs, thus the hub can’t track payments between users.” - @Ethan_Heilman #ScalingBitcoin
TumbleBit can operate as a unidirectional payment hub, offering increased privacy & scalability over standard BTC tumblers. - @Ethan_Heilman
CoinJoin’s anonymity set: the people w/whose coins you’re joining.
CoinSwap’s: everyone using it on the network @ that time. #ScalingBitcoin
Lightning Network and MimbleWimble appear to be most promising tech that can increase both fungibility & scalability. H/T @TheBlueMatt
“Increasing fungibility is generally achieved by reducing information leakage, which may mean reducing use of blockchain space.” - @adam3us
“Some Bitcoin services use taint analysis to shut down accounts; their users have less fungibility than Paypal users.” - @adam3us
To be clear, this isn’t a vulnerability - it could be useful to enable secure message passing on Lightning Network. https://t.co/vwLrCzwZNb