Thanks for another show Brian.
Yes the lightning vulnerability went completely over my head too. Hopefully it gets sorted soon.
👍

I am very suspicious that this bullrun has really taken off. Seeing the price go up so quickly is great. But im still a little weary to get really optimistic. Im still in the camp that we revisit 50k, then we have hit rock bottom, before we really skyrocket. Lets see. Will be happy to be proven wrong.

Yeah the risk of setting up a convuluted mutlisig, is that its so clever that even you, the owner gets locked out. I still say, we have learned in our lives all kinds of convoluted things. And we dont screw them up. Multisig osnt half as hard as some of the most convoluted things we have kearned in our lives.

The other day my niece was learning pythagoras, and i was able to solve it just like that. If i can remember how to solve one side of a triangle in an equation after 20 odd years then surely I can learn how to set up 3 keys and get access to them and not screw it up.

I think we should all learn multisig. And after we have learned it, and made many transactions over and over again, untill we can do it in our sleep, and backwards and sideways and diagonally and while performing a handstand. And after all this if we still dont feel comfortable, then stick with a single seed phrase with a solid pass phrase.

If we are willing to put in hours and hours of work to learn convoluted stuff that we will never use in our life, and then we not willing to spend the time and effort to protect our wealth then i dont know what to say.

As for multiple locations for each of the seeds for our multisig, each person must decide how to set this up without making it so difficult to not be able to get access in an emergency.

Once you have set up whatever configiration you happy with, do a test run. And time yourself how long it took to secure your stack.

Remember the fire alarms tests we used to have at school when we kids and still have at work even now. Thats alot of effort we all put into something that is very unlikely to happen, but could save our life one day. Well if we put this much effort into this then we can put abit of effort into securing our wealth. Surely.

Fuckin Coldcard, why you have to be so bloody incompetent... 🖕🖕🖕
🤦

Thanks Brian another good show mate. Cheers. 👍

Gosh Joe, sounds like you r going through hell. Hang in there. Rest up and get better for the big day. No doubt it will be an amazing day. And yeah, atleast you will have an excuse for all those funky dance moves. 🤣

Excellent show Brian. I agree, self custody is what makes Bitcoin so special.
We take the time and effort to learn all kinds of complicated things in our lives. The moment it comes to taking self responsibility for our own money, becoming independent and self sovereign, all of a sudden it too much. I wonder who implanted this in our heads. It took me 4 years to take self custody, because of this very fact.
Although multi sig sounds complex, if we just take the time to learn, go slow, dont rush and once completely confident then take that next step, then it will be absolutely fine. 💯

Thanks Brian for another good show. 👍

Yeah opsec is important. Its sad, a non bitcoiner, an outsider seeing how carefull bitcoiners need to be, Im sure they would be so put off. All of these attacks on bitcoin is having the desired effect, stopping normal every day people from learning about bitcoin. While the institutions / whales load up their bags. The bear market is when the wise set themselves up to get very rich.

Yes, running older core version will work for a while, but eventually will become too out of date to use. Hopefully core dont make it compulsory. Assuming that all knots nodes are eventualky forced to run a newer core node, I would think all of them will manually put op_return filter back on. Core will be be able to see this(when it happens). If they still make it complusory then they really are totally ignoring significant part of the community. 🤞

Thanks for another good show Brian 👍

I came across something recently that I overlooked. If knots node eventually becomes redundant, and we are forced to use core node, then aparantly we can add the op_return filter back in. I didnt realise this. Core changed the default setting as off. But we can chose to switch it back on. Not sure you aware of this. I thought this was important to share.

It seems like Luke Dashjr is going for this hard fork. It does seem like its gonna happen.
I think I will run a forked node to show my support.

But we have no choice, on the main chain we have to run a core node

Eventually knots node wont be updated. ☹

Thanks for a good show. 👍

Yeah we all expected bip110 to fail. I was some how hoping by some miracle they would succeed.

I think a hard fork is not good for bitcoin and also I assume we would lose people like Luke Dashjr and mechanic to the new bitcoin forked chain. Although bip110 failed, their presence is reflective of serious concerns that core do not have bitcoin's true interests. So I would prefer to have these devs challenging bitcoin core in our corner on tge maim chain. Otherwise we would not have a clue what bitcoin core is up to.

If they did do a hard fork, it would result in the usual dynamics after a fork, price would crash, and majority of public would stick with the main chain. So it would fail? Not necessarily. As long as the forked bitcoin remains strong enough to ward off any 51% attacks and there are enough miners and nodes for it to be secure ( obviously would never be as strong as main chain, but its good enough), then if core really do go rogue and destroy bitcoin in the future, then we have a viable option to switch to one of the bitcoin forks.

If the worst case scenario happens, then these forks of bitcoin might not be so bad. You would think over time people will learn their lesson and pick the bitcoin that is most resilient long term.

So these failed bitcoin forks that we look down on could actually be silently waiting to come into action if bitcoin core really do overstep and destroy themselves. Bitcoin core would surely be aware of this. So hopefully their presence keeps them in check.

In the end I dont want the main chain to fail and if spam is something we have to deal with and of it is not catastrophic to keeping bitcoin decentralised enough, and no one can censor a transaction on the main chain, then that is what its all about. I do hope the spam is not used as way to severly compromise the bitcoin network.

One thing for sure, mining needs to become more decentralised. Bip110 is an example of the miners coming together and making sure it fails. We are putting alot of trust in the miners. I would feel more comfortable if it was much more decentralised. I am not sure the best way to make mining more decentralised. If 10% of normal every day people had their own mining rig at home, this would be enough to overtake the few companies that dominate bitcoin mining worldwide. But we could assume by then that countries would begin using wasted energy / free energy like renewables to mine bitcoin. So by then the mining industry could easily be 10 times larger in which case 10% of every day people running a mining rig at home would no longer cut it and would be a small % of mining power globally, so then we back to square one.

I have looked into buying a mining rig on numerous occasions and everytime I decide against it because I fear I would end up paying more than spot price of bitcoin and infact make a loss. I would be willing to accept to breaking even, in returm for non kyc freshly minted bitcoin. But I am not so confident I could pull this off. Bitcoin mining is a cut throat industry, requiring hardware upgrades every 3 years. There are much easier ways to buy non kyc bitcoin.

I thought Ocean was one of the good ones.

So whats the best way to decentralise mining?

I have looked into buying a mining rig on numerous occasions and im always put off, bcause i have to upgrade the hardware every 2-3 years. I would settle for the cost to be spot price of bitcoin and i dont actually make a profit. Having newly minted no kyc bitcoin is very appealing. But I get the feeling I would actually make a loss compated to spot price.

So would you say the best way to decentralise mining is for more people to buy their own bitaxe and mine at home and plug into a mining pool. That would require alot of people mining to balance out the few massive companies that dominate the bitcoin mining scene.

I was supporting bip110. I was somehow hoping they might succeed, but I knew the odds were stacked against them. But as long as bitcoin remains decentralised and monetary transactions remain uncensorable on the main chain, then nothing has really changed.

I do hope this isnt the beginning of bitcoin being co-opted and captured. And I hope this spam mechanism isnt used to attack bitcoin in the future.

I think we do need more decentralised mining like Ocean.