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Five Bitcoin Mistakes You must Never Make

Oct 5th 2023, 3:01 pm
Posted by hamish9209
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When news stories started swirling regarding the possible negative effects of Bitcoin’s energy consumption, many became concerned about Bitcoin and criticized this energy usage. Also briefly mentioned was the discussion started by ZmnSCPxj on the Lightning-Dev mailing list about how precisely taproot could be integrated with LN to provide improved privacy and scalability. ● Discussion of soft fork activation mechanisms: Matt Corallo started a discussion on the Bitcoin-Dev mailing list about what attributes are desirable in a soft fork activation method and submitted a proposal for a mechanism that contains those attributes. ● Proposed watchtower BOLT: Sergi Delgado Segura posted to the Lightning-Dev mailing list a draft BOLT he and Patrick McCorry have been working on. At least one reply was opposed to the idea and 바이낸스 가입 혜택 받는법 other replies which did support the idea each proposed a different encoding format. The comments were so short that I had no way to tell how to improve the paper and just got the impression that the reviewers weren't interested in the idea and made little effort to try to understand it.


Corallo also worries that using BIP8 from the start of a soft fork deployment gives the impression that the developers of node software get to decide the rules of the system. Node software can prepare for this maximum 42-month process by including, even in its initial versions, a configuration option that users can manually enable to enforce the BIP8 flag day if necessary. Experienced users are encouraged to help test the software so that any problems can be identified and fixed prior to release. The Loop software is compatible with recent versions of LND. ● Eclair 0.3.1 released: the newest version of this LN software includes new and improved API calls as well as other changes that allow it to perform faster and use less memory. ● Coinjoins without equal value inputs or outputs: Adam Ficsor (nopara73) started a discussion on the Bitcoin-Dev mailing list about two previously-published papers (1, 2) describing coinjoins that didn’t use either equal-value inputs or outputs.


70) which will need to add inputs to a transaction in order to be able to spend low-value UTXOs. 3814 allows the UTXO sweeper to add wallet inputs to a sweep transaction in order to ensure its output meets the dust limit. This week’s newsletter summarizes the final week of the organized taproot review, describes a discussion about coinjoin mixing without either equal value inputs or outputs, and mentions a proposal to encode output script descriptors in end-user interfaces. ● Encoded descriptors: Chris Belcher asked for feedback from the Bitcoin-Dev mailing list about base64 encoding output script descriptors so that they’re easier to copy and paste (and also so that regular users aren’t exposed to their code-like syntax). Also included is our regular section about notable changes to popular Bitcoin infrastructure projects. SECURETHEBAG, links to a proposal to standardize LN watchtowers, and summarizes notable changes to popular Bitcoin infrastructure projects. Anthony Towns provides lucid commentary on several aspects of Corallo’s proposal and Timón’s response. As an alternative to either BIP9 or BIP8 alone, Corallo proposes a three-step process: use BIP9 to allow a proposal to be activated within a one-year window; pause for a six-month discussion period if the proposal is not activated; and-if it’s clear that the community still wants the proposal activated-force activation using a BIP8 flag day set to two years in the future (with faster activation possible using versionbits signaling).


In the responses to the post, Jorge Timón and Luke Dashjr both proposed that any BIP8-like mechanism use mandatory versionbits signaling leading up to the flag day (similar to how BIP148 proposed to activate segwit); Corallo notes that this conflicts with the third and fourth goals.

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