Podcast recommendation time:
This episode of the chaincode podcast was a nice one because Murch very lucidly explains a lot of details about transaction fee/mempool issues in an extremely clear way, such that even a relative Bitcoin expert may find some nuggets of info in it. Covers e.g. CPFP vs RBF and nuances of when they can and can't be used amongst many other things.
1/ On-Chain Volume Record
#Bitcoin transaction volume reached a new all time high in March. $366.3 billion have been sent, @TheBlock__ reports.
The associativity of the elliptic curve group operation (point addition) is curious ... notice how trivial commutativity is, especially if you think geometrically (line through A and B is literally the line through B and A so obviously A + B = B + A), but associativity ((A+B)+C=A+(B+C)) means going through the multistep process (tangent, find intersection point, mirror through axis) twice, with different starting points. The proof takes up 15 pages in Washington.
⚡Version 1.7.0 of RaspiBlitz released⚡
Lightning Terminal v0.4.1 & chantools v0.8.2 for fund rescue, plus many app updates + fixes.
Easy migration from Umbrel/myNode to RaspiBlitz.
Details on v1.7.0 & how to update: https://github.com/rootzoll/raspiblitz#downloading-the-software
As for what *I* learnt:
apart from just firming up my understanding of the algorithm a bit, the main thing that was unexpected was:
With BIP340 style schnorr keys the even-y-tiebreaker interacts in a slightly non obvious process with aggregation.
Aggregation features taking sums and scalar products of a bunch of pre-existing keys, the final result of which won't necessarily have even-y. So you have to carefully decide where to negate keys and this must be agreed by participants, of course.
As a learning exercise, I wrote a toy implementation of MuSig2 (not useable, even as a starting point, for real world code, please note!) in Python, it was useful for me and may be for others trying to get a handle on how it works:
Probably start by reading the top comment and then lines 440-475 to get a handle on it.
CEO Of Turkish Exchange @thodexofficial Flees Country, Leaves User Funds Irretrievable.
Thodex’s lawyer, Bedirhan Oguz Basibuyuk, said the CEO fled Turkey because he would have been “either arrested or committed suicide.”
@namcios covers the story:
Podcast recommendation time; interview with Ryan Gentry of Lightning Labs on a sort of traditional finance podcast; recommending it because I think Gentry did a really excellent job of explaining Lightning to a relatively non-Bitcoin listener and talking about the potential futures it creates:
Some thoughts about future (longer term) changes that might happen with the Joinmarket project:
The EU organises a Jitsi hackathon between April 26 and May 3, with paid prizes
h/t @J9Roem on block digest #265 - there are so many headscratchers in this case (the intro sections of the article are less important, it's the details of the specific asset seizure and (non) disbursement below that are amazing):
(why do the docs, more than once, explicitly report 39.67004483 for output 1 of d81b.. when it's actually 39.67004888 ? doesn't match tx fee e.g.).
(and .. wtf is this huge mixing address 1P9R ...?!)
Looks like blocks are taking about 1.5-3BTC in fees with current mining slowdown, i.e. 20-35% of block reward. At those levels censorship starts to become a punishingly expensive proposition for a business.
(But of course right now, using base layer Bitcoin is also .. expensive! This is probably a taste of what's to come in future.).
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