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Showing 12 of 12 results by NickofTime
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Board Development & Technical Discussion
Re: Removing OP_return limits seems like a huge mistake
by
NickofTime
on 14/05/2025, 19:10:57 UTC
I'm not tech savvy enough to make an opinion on the changes to OP_RETURN, but I do see a problem with the way these changes are being approached. Peter Todd's pull request was revived precisely after Citrea's whitepaper release which indicates a need for at least 144 bytes on OP_RETURN. [page 18 https://citrea.xyz/clementine_whitepaper.pdf] And Mr Todd himself mentioned Citrea as one of the reasons for the PR revival. So it's difficult to say anymore if the motivation for the changes came from Citrea or for the benefit of Bitcoin. And if it came from Citrea, why is a private company working on L2 tech putting its nose in base layer development?
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Topic
Board Development & Technical Discussion
Re: Removing OP_return limits seems like a huge mistake
by
NickofTime
on 06/05/2025, 22:44:30 UTC
From my perspective (going back a long ways) real sidechains such as liquid ARE 'bitcoin'.
I didn't mean that in the sense of anything negative, I mean you don't need to wonder about anything that complicated. The NFT/shitcoin stuff could just use some other much cheaper chain or whatever.  They don't because reasons that I discussed upthread-- sidechains wouldn't help those reasons, they'd hurt. The value to the shitcoiner is that it's expensive to make their tokens.

Motivation: this was not properly addressed. From this discussion alone it seems that the choice of imposing no limit on OP_RETURN was for the benefit of the network. This is not what happened. This is not why the pull request was made. I refer you to a post by Peter Todd himself on stacker.news

Quote
For the record, this pull-req wasn't my idea. I was asked to open it by an active Core dev because entities like Citrea are using unprunable outputs instead of OP_Return, due to the size limits. And yes, that's the thing that has changed since.
https://stacker.news/items/971277?commentId=971434

Was this really for the benefit of the network or for the benefit of Citrea? Why did this anonymous developer go through Todd for the PR? Am I the only one seeing red flags here?

I'm glad you asked that-- I hadn't seen any of that discussion and I totally get why you find it concerning.

You're missing context:  Petertodd's pull request points to this mailing list post: https://groups.google.com/g/bitcoindev/c/d6ZO7gXGYbQ/m/mJyek28lDAAJ  So no anonymity.  And why Petertodd?  Because it's simply a reintroduction of a pull request he made previously:  https://github.com/bitcoin/bitcoin/pull/28130   Petertodd just copy and pasted his older change-- kind of the obvious thing to do when someone has submitted a change before that you think should be made now is to ask them to resubmit it.

(also jesus man, can Petertodd not manage to say anything without somehow causing drama? Tongue)

As far as citrea: they already make "fake address" outputs.  I don't see how the change *benefits* them, it would however make their traffic less harmful to Bitcoin which seemingly they'd prefer.  Though apparently these transactions only happen when their channels fail or something it's an exceptional and not frequent case for them so not terribly important.

And you can see from the fact that it's been proposed before that citrea is not the driver of this.  Maybe from Petertodd's perspective it's what triggered someone to ask him to try again.  But the reason that people support it (including petertodd) isn't limited to or even related to that triggering event.

And FWIW.  I learned about this whole thing via drama on reddit where people were posting saying Coredevs wanted to turn bitcoin into NFTs/Shitcoins, which is pretty ridiculous.  I'd personally never heard of citria and commented in support of this change before even learning what it was... because it's pretty obviously the right thing to do, and I think that's probably true for many other people.  I don't know enough about it to give an opinion on it. I understand it's supposed to be a payment channel thing, which is good, but a lot of the recent ones of those have a shitcoin.  I haven't checked if it does, 'cause a good change is a good change even if a piece of shit likes it.  (and you *have* to adopt that perspective, or otherwise enemies can harm you by liking things that are good for you Smiley)

So from my perspective this is a change that is massively overdue.  And the thing that has changed over time that matters is that now large miners are reliably accepting unlimited opreturn via direct submission, have been doing it for a long time, and are clearly not going to stop.  That differences changes the filter from net-neutral or somewhat net positive to net-harmful.
 

Thanks. Your posts are informative as always. I will continue to use Core then and will advise others to do the same.
Post
Topic
Board Development & Technical Discussion
Merits 4 from 3 users
Re: Removing OP_return limits seems like a huge mistake
by
NickofTime
on 06/05/2025, 21:29:52 UTC
⭐ Merited by ABCbits (2) ,vapourminer (1) ,JayJuanGee (1)
A bit late to the party. I don't know if removing the filter was a mistake, this only time will tell. A few things on my mind:

Motivation: this was not properly addressed. From this discussion alone it seems that the choice of imposing no limit on OP_RETURN was for the benefit of the network. This is not what happened. This is not why the pull request was made. I refer you to a post by Peter Todd himself on stacker.news

Quote
For the record, this pull-req wasn't my idea. I was asked to open it by an active Core dev because entities like Citrea are using unprunable outputs instead of OP_Return, due to the size limits. And yes, that's the thing that has changed since.
https://stacker.news/items/971277?commentId=971434

Was this really for the benefit of the network or for the benefit of Citrea? Why did this anonymous developer go through Todd for the PR? Am I the only one seeing red flags here?
Post
Topic
Board Announcements (Altcoins)
Re: [ANN] Sora (XOR) - The Decentralized Autonomous Economy
by
NickofTime
on 27/10/2023, 04:00:04 UTC
Over 2 million transactions now on the SORA Network!  Grin

I noticed SORA $XOR trading on Bitget and gaining more attention. I would just like to know how SORA project would execute further milestone

Sorry to break it to you but this project was/is a scam. The project creator literally changed his name and lives in exile somewhere. The gimmick is this: He pays a few developers to build a facade and Makoto then makes videos and appearances filled to the brim with buzz words. He makes claims such as "Hyperinflation and reckless monetary policy could soon devastate the global economy" only to use his hold on Sora to mint new currency out of nowhere and dump it on unsuspecting fools. Makoto literally has his finger on the money printer. Anyway, when this scam has run its course, he'll change names again and move to someplace else.

Look at the kind of crap he tells his shills to post: https://www.reddit.com/r/SORA/comments/145vyqr/just_in_prime_minister_backs_soras_proposal_xor/
Post
Topic
Board Bitcoin Discussion
Re: Did Satoshi change his mind on certain subjects?
by
NickofTime
on 02/01/2023, 17:41:31 UTC
I've been looking at past threads and I'm confused on what Satoshi's position was on certain issues.

In August Satoshi seems confident that block size may be increased with no regards to size, eventually allowing micropayments as storage and bandwidth capacity improve over the years. Then in December, he hints that block size might remain small to allow as many users as possible. Did he then change his opinion on storage/bandwidth improvements in the future? I'm not sure what to make of this.

nope
in the december.2010 he says some bitcoiners will become tyrannical and want to keep blocks small with lame excuses of wanting it to be available on small devices wheree those types of lame excuse idiots were thinking holding back tx counts for those idiots to have bitcoin on a phone would mean more people would get to use bitcoin(sorry but no thats not how utility works)
back then there was not really a "lite wallet" so now in 2022 people trying to use the excuse of keep the full nodes small vi block limits and pruning has meaningless lame reasoning. because phone users can just use a lite wallet instead


the debates(s) were also about including more bloated data unrelated to bitcoin transfers. where people wanted to store library books and domain registries on the bitcoin blockchain. he was simply stating that other data does not need to be pumped into bitcoin blockchain and also that bitcoin can grow for bitcoin utility. while people have separate networks for the other data and find ways to cross communicate when purchasing domains without the need for the domain details to bloat up bitcoin



To be fair the word "lame" was added by you, not by Satoshi.  Wink Satoshi only said some users will be very insisting on keeping the block size small.
Post
Topic
Board Speculation (Altcoins)
Re: ethereum switch from PoW to PoS
by
NickofTime
on 02/01/2023, 17:21:16 UTC
so imagine if instead of say gold mining which costs about $900/ounce of labour, diesel, sluice machines, loader tricks and diggers..
where market rates are about 1.5x speculative bubble factor of underlying cost(value)
where gold have only ever reached a 2x factor in the last couple decades


imagine if gold could be mined in someones back yard for just $1 an ounce.. using a spoon and coffee filter paper

do you think gold would remain at a market rate of speculation of $1700

well
Ethereum just changed its mining underlying costs
https://i.imgur.com/tIwxtCH.png

from over $940 to under $35

i will let you discuss how much of a X multiple 'speculation bubble factor'. the market should remain at

enjoy the thoughts..

oh slight hint.. expect ethereum price to continue to decline until it corrects to a good value new low


The issuance changed too, it dropped by ~88%. Doesn't that mitigate the decrease in cost of validating a block?
https://ultrasound.money/
Post
Topic
Board Bitcoin Discussion
Topic OP
Did Satoshi change his mind on certain subjects?
by
NickofTime
on 02/01/2023, 13:45:31 UTC
I've been looking at past threads and I'm confused on what Satoshi's position was on certain issues.

November 2 2008 - Satoshi believes that eventually nodes will be run on server farms with specialized hardware.
https://www.metzdowd.com/pipermail/cryptography/2008-November/014815.html

August 5 2010 - Satoshi anticipates that micropayments could be possible due to storage and bandwidth improvements in the future
https://bitcointalk.org/index.php?topic=287.msg7687#msg7687

August 11 2010 - Satoshi hints that block size may be significantly increased
https://bitcointalk.org/index.php?topic=287.msg8810#msg8810

December 9 2010 - Satoshi hints at merge mining ? Possibly to mitigate for small blocks?
https://bitcointalk.org/index.php?topic=1790.msg28715#msg28715

December 10 2010 - Satoshi anticipates that the block size might get kept small to allow as many users and small devices as possible
https://bitcointalk.org/index.php?topic=1790.msg28917#msg28917

In August Satoshi seems confident that block size may be increased with no regards to size, eventually allowing micropayments as storage and bandwidth capacity improve over the years. Then in December, he hints that block size might remain small to allow as many users as possible. Did he then change his opinion on storage/bandwidth improvements in the future? I'm not sure what to make of this.
Post
Topic
Board Beginners & Help
Topic OP
Where to run Bitcoin Core + Lightning?
by
NickofTime
on 27/12/2022, 03:21:05 UTC
Looking for a dedicated device that would run 24/7 and my main consideration was Raspberry Pi 4 but as it turns out the Raspberry Pi foundation stopped servicing the retail sector because they realized they'd make more money servicing the industrial and government sector. I'm not sure what the tried alternatives are. I'm essentially looking for a single-board computer, but I'm willing to go all the way to a minipc if I have to. Perhaps a Mac Mini?
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Topic
Board Beginners & Help
Re: Privacy issues when purchasing hardware wallets
by
NickofTime
on 25/12/2022, 14:13:19 UTC
I was wondering why ColdCard didn't make your list as I've heard many good things about it, and then I ended up slam-bang in the middle of your debate with nvK on licensing lol. Objectively-speaking (completely disregarding any licensing issues), what do you think of the Mk4?
It was in my list when it was open source wallet, then they decided to change source code to common clause + mit, that is not allowing anyone to use their code.
EVerything started after Foundation Passport wallet came out that used thier code, but it is superior device in every way, with open source hardware and software.
ColdCard is still ok hardware wallet to use, but I just don't like direction it is going and their owner NVK  is ego freak and hypocrite.
Of all the methods you posted, is there one that allows for partially signed transactions (like ColdCard)? Not being able to sign transactions offline is a major issue for me.
Post
Topic
Board Beginners & Help
Re: Privacy issues when purchasing hardware wallets
by
NickofTime
on 24/12/2022, 20:28:50 UTC
    The Ledger debacle that caused the leak of customer information (down to their home addresses) is making me hesitant in purchasing a hardware wallet. There is ColdCard that claims they only hold customer information for tax reasons and then they delete it, but I'm not convinced.
    You can always buy hardware wallet in your local area and pay with cash, some devices are even sold in Best Buy, but there is always alternative of ordering online to PO boxes and using alternative personal information, temp email and phone number.
    But if you are going down this path than you should do this for every other purchase you are doing online, not just for hardware wallets.
    You can also make your own open source DIY signing device like SeedSigner (using Raspberry Pi) or using ESP32 devices to do something similar.
    Here is one list of devices you can check out:


    I've found this resource, is this proper procedure? The guide is incomplete though as it doesn't say how to generate the address from the mnemonic. Could someone fill in the rest?
    There is nothing wrong with that option, you just need dedicated laptop and you use it only for crypto, and flash drive can be used for TailsOS.
    Only advantage of hardware wallets and signing devices is smaller size and easy portability.[/list]
    I was wondering why ColdCard didn't make your list as I've heard many good things about it, and then I ended up slam-bang in the middle of your debate with nvK on licensing lol. Objectively-speaking (completely disregarding any licensing issues), what do you think of the Mk4?
    Post
    Topic
    Board Beginners & Help
    Re: Privacy issues when purchasing hardware wallets
    by
    NickofTime
    on 20/12/2022, 01:46:18 UTC
    Why do you go from dismissing Ledger to considering a paper wallet? Trezor has not had Ledger's problems, they delete data after a certain time and they are open source, so they are a better option.[/url]
    Because Trezor has no secure element. Which leads to this: https://www.youtube.com/watch?v=dT9y-KQbqi4
    Post
    Topic
    Board Beginners & Help
    Merits 1 from 1 user
    Topic OP
    Privacy issues when purchasing hardware wallets
    by
    NickofTime
    on 19/12/2022, 01:32:34 UTC
    ⭐ Merited by dkbit98 (1)
    The Ledger debacle that caused the leak of customer information (down to their home addresses) is making me hesitant in purchasing a hardware wallet. There is ColdCard that claims they only hold customer information for tax reasons and then they delete it, but I'm not convinced. It only takes a bad actor within the company. Should I go for a paper wallet instead? What is the proper procedure in creating one? For what it's worth, I'm not going to transact at all except stack sats when I can and hold them for the long-run, maybe for the day I'll be able to purchase my morning coffee with it.  Smiley

    I've found this resource, is this proper procedure? The guide is incomplete though as it doesn't say how to generate the address from the mnemonic. Could someone fill in the rest?
    https://bitcoinmagazine.com/culture/diy-bitcoin-private-key-project

    Or is Tails OS/Electrum preferred?
    https://www.youtube.com/watch?v=yzJ9bRFkwmo