BTCSchellingpt

Stay humble, stack sats
#Bitcoin Brisbane
@BitcoinBushBash
@hodlhodl NOOB day
@Opensats
#npub1nvfgglea9zlcs58tcqlc6j26rt50ngkgdk7699wfq4txrx37aqcsz4e7zd

[Sovereignty Summit @SovSummitNZ]

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[BTCSchellingpt @BTCSchellingpt]

@Rob1Ham @VibeCapitalMgmt @Fundamentals21m Are these subsidiaries of Big BTC?

[BTCSchellingpt @BTCSchellingpt]

@benthecarman @imbabybrooklyn wot's your point Ben?

[BTCSchellingpt @BTCSchellingpt]

@ts_hodl If you’re using multiple wallets, definitely! And pro-tip .. ensure the name of the wallet file exactly matches the name of the wallet in your password manager!

[BTCSchellingpt @BTCSchellingpt]

Intellectual property v Open Source

“Secrets are for companies that stopped moving. If your advantage needs a lawyer to survive, it was never an advantage. It was a head start you wasted.”🎯

Patents are for the lazy one-time innovators and the legal billing fraternity

[Race 🕊️ @multiplanet1]

Elon Musk was asked why SpaceX barely files patents.

His answer flips everything business schools teach about protecting ideas.

"Patents are a recipe book for your competitors."

The room expected the standard answer. Patents protect innovation. Patents are moats. Every startup lawyer's first advice is file, file, file.

He explained why that's backwards for SpaceX. A patent is a public document. You file one, and you've published your engineering solution to the entire planet, with diagrams. Your only protection is your ability to sue whoever copies it. His primary long term competitors are in China. He said suing there would be pointless, so a patent filing would simply be handing over the blueprints with extra steps.

So SpaceX protects almost nothing on paper. The protection is velocity. By the time anyone reverse engineers the current rocket, SpaceX is two generations ahead. The moat isn't a document. The moat is speed.

Think about what that reveals. He'd rather rely on outrunning everyone forever than on a legal system defending yesterday's work. Most companies protect the past. He decided the past isn't worth protecting because he's never going back to it.

Secrets are for companies that stopped moving. If your advantage needs a lawyer to survive, it was never an advantage. It was a head start you wasted.

[Study Bitcoin @BTCDontCare]

I Realized
Nobody
Was Coming
To Save Me
So I Became
A Bitcoiner.

$BTC

[BTCSchellingpt @BTCSchellingpt]

@Lawblock21 Not a lawyer, but as I understand it, it's essentially the distinction between Legal ownership and Beneficial ownership; in the Ledn case both are being assigned to Ledn by the customer so from IRD's perspective the CGT trigger is clear .. not saying I like it one bit tho!

[BTCSchellingpt @BTCSchellingpt]

@JoeNakamoto + in AU: LivingRoomofSatoshi for any bill payments

[BTCSchellingpt @BTCSchellingpt]

@kiwilambnz Because it ensures that you’ve got a better chance of deciphering the (correct) word if you transpose a couple of letters when writing them down .. I’ve recovered someone else’s stack from this mistake and it was an alarmingly simple mistake to make .. hence the take-away lesson

[BTCSchellingpt @BTCSchellingpt]

Creating new #Bitcoin wallets?

Record all these 5 things:

1. Seed words (obviously)
2. Script type (Segwit, Taproot etc)
3. Fingerprint
4. Derivation path
5. Method+date of creation

Your backups should record all these components, but critically the first 3

But why all these? 👇

[BTCSchellingpt @BTCSchellingpt]

Clearly stated John 🤝

.. and the compelling reason for the sole digital monetary token continually accruing value is therefore the ability to secure those tokens by enforcing those guarantees

As all the shitcoins have eventually learned, if your mango-on-a-blockchain token successfully accrues value, it will be attacked

To continue to (endlessly) accrue value the token network must provided the security to deliver those guarantees from which the scarcity derives .. and the quality and severity and frequency of the attacks will of course increase

The Bitcoin network has the highest hashrate, the broadest global network, the most extensive developer pool, and a global set of owners - it’s not even close

The conditions that enabled the “immaculate” inception of Bitcoin no longer exist, and cannot exist again, so it’s highly unlikely that a competitor could successfully replicate or challenge today’s network security

Bitcoin maximalists are those that have taken the time and sifted through the arguments and incentives and come to simple and logical conclusions.

[BTCSchellingpt @BTCSchellingpt]

@stack2thefuture @JonnyJi50127056 🔥🧡

[BTCSchellingpt @BTCSchellingpt]

@Enkitek With multi-sig, yes, add the descriptor with each copy of the seeds

[BTCSchellingpt @BTCSchellingpt]

@ajtowns Fair point .. two key differences i observe being that BCH had some pretty significant miner support, and economic value extractable through exchange listings.

AFAIK, neither of those factors relevant here

[BTCSchellingpt @BTCSchellingpt]

@ajtowns Likely not, but all are equally shitcoin noise 🤝

[BTCSchellingpt @BTCSchellingpt]

@denverbitcoin How many ethereums are there?
How many dollars are there?

Unverifiable
Unknowable

Same same 🤷‍♂️

[BTCSchellingpt @BTCSchellingpt]

Open-source models now outperform
“Public frontier” are private platforms

This gap will only widen 🚀🔥

[calle 🟥 @callebtc]

Open-source models now outperform the public frontier.

[Stephan Livera @stephanlivera]

Dice Rolls, Entropy, and SeedSigner | Keith Mukai SLP766
@keithmukai of @seedsigner joins to explain why 1.4 percent variance in cheap dice still delivers full 128-bit entropy and how to verify rolls across devices.

Timestamps
03:10 — Cheap Dice Only 1.4% Unfair?
06:29 — Shake Multiple Dice in a Box
08:26 — Verify Dice Rolls Across Devices
11:02 — Verify Dice Seeds With Fake Rolls
13:50 — Multiple Test Rounds Foil Attackers
16:36 — 90% Users Choose Easy RNG Mode
19:08 — Jade's D&D Dice Method?
21:53 — Build Your Own: Avoid Mailing List Leak
24:48 — Stateless Device vs Evil Maid Attack?
26:45 — Hand-Drawn SeedQR: Skip Typing 24 Words
29:02 — SeedSigner for Long-Term Cold Storage?
31:30 — Evil Maid SD Card Swap
35:27 — Why Multisig Beats Single-Sig + Passphrase
37:14 — Scan Sparrow PDF QR to Load Multisig
42:16 — No One-Size-Fits-All Security
46:41 — Understand Dice Rolls Yourself
49:13 — Take Baby Steps to Multisig

[BTCSchellingpt @BTCSchellingpt]

@ozsats256 Noice 🤝

[bitcoin++ Insider Edition @btcinsider__]

JUST IN: Iceberg, a thresholdized signing scheme for Lightning’s 2-of-2 payment channels would allow Lightning nodes to hold even in-channel funds with multisig

Jesse Posner (@jesseposner), who previously worked on FROST for libsecp256k1 at Block, drops the paper link 👇