TFTC: A Bitcoin Podcast - Rabbit Hole Recap: Week of 2020.02.03

Episode Date: February 6, 2020

This week Marty and Matt discuss: - Casa will no longer sell nodes, gold package reduced to $10 per month - Wasabi removes fixed fee address - Samourai Whirlpool usage hits monthly all time high - Proof Wallet tool released by @hodlwave - Eclair v0.3.3 - BTCPay Server v1.0.4.156 - Blockstream Green v3.3.3 - BitMex Research estimates 28% of channels are private, 12% of total capacity - Lolli requiring bank account linked to withdraw bitcoin rewards for some users - Lightning Labs raised $10M Series A round and launches lighting loop beta - ColdCard teases new HSM mode - ShiftCrypto releases results of new tamper evident packaging alpha test - Zoomers fighting back against Instagram tracking - Bitcoin citadel workshop in SF before bitcoin2020 Shoutout to this week's sponsors. Cash App. Start #stackingsats today. Use the promo code: "stackingsats" to receive $10 and contribute $10 to OWLS Lacrosse you download the app. Unchained Capital. Head over to www.unchained-capital.com/vaults and check out their 2-of-3 multisig vaults.

Hey there freaks, I think I'm just going to start doing this normally because it fucks up the flow when we're live. This episode of Rabbit Hole Recap was brought to you by the Cash App. You freaks already know all about them. If you don't have them downloaded yet, what the fuck are you waiting for? When you do download them, make sure you use the code STACKINGSATS, that's going to get you $10, and then $10 is going to go to our friends at Owls Lacrosse. Owls Lacrosse, whoo, whoo, and what's going to happen when you download it?

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pretty, pretty aggressively. And you're missing out on those deals if you're not checking it. So go download the cash app, use the code stacking sats, get your $10, send it to Al's just be dope all right this episode is also brought to you by unchained capital our great friends at unchained are doing incredible things in the bitcoin financial services realm mainly uh with multi-sig and lending all right so they got their vaults program which lets you enter in a multi-sig quorum with unchained where they can act as a signer in the quorum if you ever need to move funds from your unchained vault unchained is there for you if you want to move them yourself you can have two of three or m of n and move it yourself as well

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tweeted out by uh fidelity assets this week fucking awesome fidelity digital assets they're pumping out good content so go to unchained-capital.com that's unchained-capital.com check it out set up a vault take out a loan if you if you don't want to sell your bitcoin check them out enjoy this episode good rip what is up freaks welcome back to tales from the crypt it's your boy marty bent here with our boy matt odell bullish as fuck for another edition of rabbit hole recap bullish as fuck why is that is that because we're at uh sitting at nine thousand seven hundred thirty five dollars and zero cents according to clark moody's bitcoin dashboard i'm just i feel it in the air it feels like the bull's back oh i'm like i was feeling the same

way a couple days ago now it's like at the point where everybody's bullish and that always like makes me gotta stay humble crazy skeptical um we're block height 616 273 um this week this is a topic we threw it on the end of the list but might as well mention it now while we have clark's clark's dashboard up in front of us the number of transactions that have ever been conducted on the bitcoin network past uh 500 million this week earlier this week currently sitting at 500 million 489 783 transactions um that's pretty cool with 9 million alone this last 30 days yeah massive that's a that's a lot of transactions half a bill um nobody uses bitcoin nobody uses it um that's uh yeah again that's a stat that can be gamed

super easy to game super easy game but it's actually expensive to game um satoshi dice proved that with lesser uh with blockchains with lesser um uh fee pressure fee pressure uh like if fees are super cheap you can just send millions and millions of transactions to yourself yeah yeah for like no cost yeah um that's why like eos it looks like eos has so many transactions yeah and uh bsv they do this with their weather data and shit like that we have pretty much all the altcoins but just to different levels right like on ethereum it's happened yeah or at least it could it could happen very easily yes a lot of a lot of gameable gameable stats out there at the uh the cost for including transactions isn't high

enough um and the network effect isn't great enough we got a shout out this week i like the shout out get into this and then we'll get into the topics uh this is a bitcoin developer shout out henadi not sure what that means massive shout out to bitcoin core developer uh hebasado habasto habasto how do you spell it h-e-b-a-s-t-o um keep grinding pr reviewing machine pick them up square check them out on github.com slash habasto again that's h-e-b-a-s-t-o his twitter is at h-h-e-b-a-s-t-o this is a psa please directly support any and all bitcoin core developers uh they are your front line for securing the protocol and ultimately your bitcoin thank you to all bitcoin developers don't know who that's from well thank you for the shout out

and thank you for your service habasto habasto yeah i've not had uh honestly habasto is not on my radar uh thanks for pointing that out whoever could have been habasto this could be a self-pump we don't know i think i kind of dig that too um and the other thing to mention here is that github has a patreon-esque program now i think they call it github sponsors yes um which is clearly not censorship resistant but you can set up monthly reoccurring donations to anyone any developer who's enabled it through github and right now i think microsoft who owns github now i think they're matching they're matching donations for a promotional period so you can get microsoft to contribute to core devs uh i know jeremy jeremy rubin set his up i saw that exactly so

microsoft matches a bunch of those donations i didn't know they were matching good for microsoft probably not forever no no no it's definitely just because they just launched the the program yeah so go support your local bitcoin dev if you want to you can do it individually um it's a big uh jeremy and i talked about it when he was on the podcast a few weeks ago it's a big uh i mean it's a problem that's getting becoming less of a problem in my opinion with the square cryptos, chain codes, block streams, digital garages of the world, and then you have individual funders as well.

I think as Bitcoin becomes more ingrained in society, the incentive to support these developers is just going to become more obvious and more commonplace. I would love if... Have you seen how BTC Pay handles their contributor donations? Like you go to their webpage and they have faces of a bunch of the different contributors to BTC Pay Server,

and if you click their face, it goes to their individual BTC Pay instance where you can donate instantly. It'd be pretty awesome if we had a site that just had a bunch of core devs listed, and you could just click their name and pay them. GitHub.

Yeah, but it'd be nice to do, if you could do it with Bitcoin, easily, all in one place. A bunch of them have donation set up with Bitcoin, but it'd be nice if there was just like a single page because sometimes i'll just go to btc pay and i'll just like just rain dollars on each of them you know speaking of which how about that dude wearing a btc pay hat at uh the lakers portland game that was bittersweet because i dude if you're listening fuck yeah that's awesome i felt bad a little bit bad retweeting it right

no because like you kind of doxxed him a little bit we kind of doxxed him a little bit you know He was on TV, he doxed himself. I know, I agree. And it was a blurry face. If you're going to go into a place with a bunch of cameras with the possibility of being on TV, you're doxing yourself. Some people tried to call us out for that. I did not feel bad about that.

Yeah, I mean, I retweeted it. It's mostly just extremely badass. I love this hat. It's my favorite hat. I wear it like every day now. Yeah. Yeah, that was fucking cool. Let's see more of those hats places.

Yeah. um no and actually it helped uh bump the sales of those hats over the weekend too and the reminder 25 of the profits from these hats are going to btc pay um still have to coordinate how we're going to hand out the oh i know how we're going to yeah i was supposed to talk to you about it before the pod rockstar reached out yeah he wants it converted to hats and brought to san francisco okay we can do that yeah that's what i told him as well yeah it's pretty easy um yeah we'll do that uh again uh we haven't like those aren't haven't been flying off the shelf we've sold a considerable amount um but uh it's a great way to support btc pay and in their efforts it's

a sick fucking hat and it's obsec friendly yeah unless you get on tv and someone tweets out a picture of you yeah exactly um yeah so those hats are there go check them out um we got a long list today. It's been a big week. A lot has been announced. Prices obviously going up a bit and a lot of shit going on around the world. Coronavirus has not gone away. It's still here. But we'll start with some Bitcoin related stuff. Casa, I'm sure some of you freaks saw their announcement. Jeremy Welch has taken a step back to deal with some family issues and uh jameson and uh nick newman are taking over the reins of the company on top of that they will no longer be selling their nodes so the casa um node two is um is uh going to be the last

hardware node they they release at least uh at this point uh they've also reduced their gold package to ten dollars per month and they're uh really going to focus in on on the self-sovereignty security aspect of their business really focusing on inheritance uh self-custody and all that that good stuff yeah so nick newman's gonna be the new ceo um and him and lop are gonna take over a lot of the roles that uh that jeremy had before so that seemed like a good team to lead uh nick is awesome i've talked to nick a lot uh jameson's everyone knows jameson nick's more behind the scenes um as for the node they're shipping out the node twos to anyone who's already ordered it but they're stopping new sales and they're going to open source the code so anyone can run their

own um shout out to white rabbit btc who um he just he installed my node to his casa node too Instead, he wiped Kasa's software and just put MyNote on it, which might be a good option for people to consider. You just basically load MyNote onto the SD card, because it's just a Raspberry Pi with SSD already. Then you get Electrum, all the other stuff that MyNote already offers. More open lightning experience. You get to use Zap and Zeus and stuff like that.

The $10 multisig seems like a pretty... It's a gold plan, $10 a month. It's almost half the price. and just so you're paying basically to have a service provider in my opinion be there to sign for you if you need them yeah it's a super easy interface uh you can use it with uh a hardware wallet you can use it with two hardware wallets or you can use it with a hardware wallet and your phone holding a key uh you can use different brands relatively easy i've tested it all out uh it's fantastic uh with the one caveat with all these cosigner services is that they do know your

balances and your addresses and you're trusting their node in terms of like verification, verification of your, of your Bitcoin. Um, but as far as multisig, it's a very easy option. Yeah. So that's there. Um, thoughts and prayers going out to Jeremy and his family. Uh, I know it had to be tough to take a step back for that, but it must be serious if that's a, that's the case. Family first, family first, much love, much love. Yeah. Hey, we tell people to fucking speak up. We speak up. It seems to have worked.

uh particularly with wasabi it was like a day later so a few freaks haven't heard yet they've fixed the uh excuse me they removed the fixed fee address um yeah so now every round it fetches a new fee address from the coordinator um and then they have like a fallback hard-coded xpub um if it if it's not able to pull the address so i mean that's it's good to see uh it's definitely an improvement it's a slight improvement people should understand that you can still easily see these coin joins on chain um but hopefully we've seen a bunch of flags recently i think we've seen would we say four flags uh four or five times exchanges have flagged it and you know exchanges are supposed that are that are compliant compliant exchanges um they're making like a best attempt

to to police suspicious activity so hopefully this gives them a little bit more plausible deniability it's not like right in their face uh that this transaction was like one hop away from an illicit transaction so yeah so so hopefully we'll see it it's it's good to see it's a nice nice improvement but i still personally i still really i i really like that transaction zero model that that samurai is using like the idea that you have all the utxos are exactly the same amount um seems superior to me yeah well and it seems like the uh the market is liking it more too it was a big month for samurai whirlpool usage this is your tweet all-time high across pools when weighted by pool size so what are we looking at here what are these charts so i took

uh i took the amount of rounds each round samurai is five utxos so i multiplied that by the pool size and by five because there's five utxos and then i added it all up to give like uh the amount of bitcoin that's gone through because there's three different pool sizes right and you really they're independent liquidity pools but it's just like a nice little metric uh to track it and what come out to like 350 bitcoin or something like that 356 but you have to keep in mind those are remixes and stuff um and you also have to keep in mind that this is still way less than wasabi volumes yes um and this is a big big jump i mean and there was a the previous high was 303.55 bitcoin in uh october of 2019 and it uh fell over the over the course of the end of the last year

to 172.9 bitcoin these are monthly numbers uh in december and then january had a big pop more than double what it did in december so part of the reason is because they're testing out mobile mixing and i'm in the beta test of that or the alpha test i guess even uh so i mean that's the expectation the expectation is when people can just you know pair their phone to their dojo with a qr code and just press the mix button on their phone uh there'll be a lot more liquidity because the one thing about the transaction zero model that samurai uses is that it does require constant new liquidity entering the system um because otherwise mixes won't happen every mix requires at least two, my understanding is the way it's set up right now

is at least two new UTXOs that have never been mixed before have to come in and they pay for the actual round of the mix, right? Yes. So, I mean, and this is a big time. Like so many, the Monero, there's more Monero stands in my matches this morning, man. You know, people love Monero. It's so annoying though.

So that's, I mean, and it is, we've talked about this a lot, uh an easy um not attack vector but an easy thing to point at and say hey bitcoin's insufficient in this area mainly being privacy it's like its biggest insufficiency to be fair yeah but and again i've said this many times in the bent there may be an order of operations to this thing and i think uh securing uh the assurances around the hard cap of the supply uh trumps privacy at the protocol level because as we're seeing you can

you can number one get privacy with coin joins if you use them correctly we have no idea who sent us that shout out but we could potentially dox them if we wanted to try if we wanted to try so that's not a good point

but hopefully lightning will help with this and then I think there are protocol improvements on the horizon that will help enable more unique or creative CoinJoin schemes. And I think privacy, as we move more to a closed-loop system, will get better over time. I think it has gotten better over time. Do you think it has gotten better or worse?

It's gotten significantly better. Just the fact that we have Wasabi and Samurai right now working on these CoinJoin tools is a huge improvement. I mean, when did Wasabi launch? what did we say two years ago was it like september was it even two years ago i thought it was like last summer it was like a year and a half it was like september of not last year but the year before right yeah um and now samurai's in like full swing they're about to get the mobile mixing you know i i think lightning when we talk about it a lot i think it helps lightning helps a

lot more when it comes to like sender when you're sent when you're the sender helps you with a lot you know privacy i could see a lot of privacy improvements there um receiving you know maybe a little bit less so uh because yeah but but i think we're we're going up but it's definitely bitcoin's biggest you know if you 99.9 percent of people are not going to be able especially if they ever use a kyc service are not going to be able to use bitcoin privately uh right now like it's just there's too many pitfalls yeah but with that being said our friend hodlwave who's bursting onto the scene with a bunch of dope shit and we're he's uh lined up for our next topic but he actually just tweeted something out like two hours ago that's relevant to this topic even if

the ownership identity this is his tweet at hodlwave even if the ownership identity of every utxo was public information that doesn't prohibit perfect privacy from being recaptured at some point in the future. However, in my opinion, there's a stronger argument that we can only lose security and digital scarcity assurances one time. Once they're gone, you're not going to get them back. General reasoning for this, Bitcoin scarcity is enforced at the protocol level. Nodes validating monetary policy and transaction rules. Bitcoin has no concept of human identity, just transaction outputs that can be unlocked cryptographically. Notions of privacy largely center around how we interact with the protocol. For example, buying from KYC exchanges subject to government regulation

broadcasting transactions that network observers can use to make inferences about ownership and to some extent there are already solutions that solve these problems for those that can use them best network is one running a node and broadcasting transactions over towards another increased liquidity resulting in more of ragnar's bitcoin circular economy that's coming it's just going to take time and it's just a the nature of the traditional system interacting with this alien technology yeah i mean i don't i don't disagree i just you know obviously uh if we fuck up the the soundness of bitcoin supply then it's it's hard to ever come back from that um as far as every utxo being known or like that you know you take it to its logical extent that every single

utxo is known it would be hard to it would it would we would be in a hard time that like for actual bitcoiners like the system could survive and we would probably it would probably usher in more privacy you know things things to make it more private to combat it but like if we had states coming at us and like most utxos are known like it would be really bad for bitcoiners in that particular time yes but again it's it's what's what's easier to preserve like you could find privacy in the future once once the uh assurance of the supply cap's broken you don't really get that back no yeah you have to be conservative you have to be extremely conservative um but it needs to be it's got to be more of a priority you know like i think it is i think

there's there's a lot of bitcoiners that's they don't think they have anything to hide they don't have any desire for it and i i wish that they realized that even if they for whatever reason even if i disagree with that they think they don't need privacy it's better for the whole system if these tools get built out sooner rather than later uh because we and we as bitcoiners we need to be ready before you need them yeah and it is it is a decent attack vector for individual states going against individual bitcoiners not necessarily as a network attack vector agreed but i'm confident that the tools are being built and they will be brought to market and again room wasn't built in a day yes i'm i'm cautiously bullish yeah as am i but sticking on hot away if this dude's a beast

he's been working on a python wallet that aims to improve the experience of using bitcoin core for psbt enabled uh multi-signature signature cold storage so basically it's very hard to interact with the bitcoin core wallet at this point uh cold card is probably the only one that has psbt enabled uh out of the box added it didn't they i think they might have um they might have but he huddle waves uh making it seem like called a cold card uh is the only hardware wallet to integrate it natively at this point basically the tool will allow you to create psbts with bitcoin core more easily because right now you have to interact with the json rpc call which is i couldn't do that basically the way i look at is it falls in a

similar role as justin moon's junction uh aims to fill which is the idea that you run bitcoin core you run proof wallet so you run bitcoin core plus one app and then you can create you can use it with multi-sig wallets right whether you have a key on your computer if you use a stateless hardware wallet you can use a quorum of a bunch of different brands of hardware wallets and you're able to make a like a sovereign multi-sig solution where you use your own node and you don't trust any third parties relatively easily and i you know i'm really bullish on this concept as a whole like i think that's where we need to go i think electrum is too complicated for most people um and yeah but anyway he has this it's releasing test net only right now don't you know um don't

go using it on main net yeah and but go test it out you know submit some pull requests he's looking for help yeah we'll link to the github it's a laudable goal yeah and um now again like interacting with bitcoin core using json rpc is not for uh the technically in an apt which i am i fall into that category yeah no doubt i mean psbts haven't been added they're relatively recent to core anyway so yeah um and they they help with privacy right in a way like if you construct a transaction offline and broadcast it somewhere completely different i mean like everything else yeah i guess you could do that but yeah there's a lot of nuance there um yeah so this is uh but it definitely stuff like proof wallet help if psbts help enable more people to

use their own full node when they're checking their wallet uh like their balances and stuff then that's huge like one of the biggest privacy vulnerabilities that no one ever talks about is like fucking all the people using trezor and ledgers right that's like two sets of servers that just have like tons of utxo data well um that's actually we don't have this on the list i'm happy you brought that up malik uh pointed it out earlier this week the number of nodes running through tor is that an all-time high right now well for it's it's nodes that contribute uh that seed blocks to the network okay um so there is visible nodes right like luke has his famous uh chart where non-listening non-listening nodes um the other thing is bit nodes finally like fixed

their crawler so for a while it was under reporting tor nodes and then the other thing is it's i think it's like 16 percent of of reachable nodes that bit nodes is pulling up which is fucking great to see uh the only reason it's the most is because all the other ones are split out by isp right so like you have like aws nodes you have azure nodes you have all the different isps where they're located um and like tor is the biggest group of those but still fucking awesome to see and i feel like it's i feel like a lot of it is because of lightning um natively just running it through tor things like there's such an advantage to running a lightning node through tor because if you don't you're literally just exposing your completely your your public

balance your public capacity your public balance there yeah um there may be more people are are running bitcoin core nodes through tor as well yeah and this is actually a good segue into the bitmex research they they were listening to the pod how cool is this this is like them and wasabi yeah um so bitmex research they updated uh their most recent uh actually i don't know if it's the most recent i think it was part seven of their lightning network series they've been doing an incredible series on the lightning network just explaining how it works uh dissecting data one of the most recent i think it's the most recent i don't know if part eight's out yet um they they broke down the proportion of public versus private nodes which we talked about last

week and um the the breakdown of channels excuse me not private and public nodes private and public channels breakdown is uh about 72 percent public and 28 percent um private but that does not tell us how much bitcoin is locked in there they went back and crunched the numbers after we asked about that and the uh the private node influence is uh is a little uh less when you take that into consideration channel no private channel yeah influence is less because as a percentage of total bitcoin locked again uh the number of channels is 28 private 72 public the amount of bitcoin locked in i don't know the exact 12 yeah it's 12 and 88 so 12 so yeah 28 of channels are private and they account for 12 percent of the the capacity yeah on the lightning network

is the estimate yes um and they're pulling data from 1ml they're using 1ml.com's api and the non-cooperative closes and extrapolating yeah uh yeah that you know that kind of makes sense to me i i didn't listen back to our last rhr but i think that's what we were guessing um yeah maybe we weren't though I don't know but that makes sense to me because private channels are usually from a mobile wallet to like one routing node two routing nodes um you know routing nodes don't really use private channels do private channels help with privacy I mean they they do a little bit because you're not publicly broadcasting the capacity but the end knows where it's coming from I think tap root should help more

because you can still see it on chain. That's how they're extrapolating here. But I guess it just looks like a two of two multi-sig unless it's a non-cooperative close, and then you can tell that it's a lightning transaction. Lightning open close. So private channels do help, but obviously they're not going to help you

with the node you're connected to. And when you're receiving, the sender doesn't know that the private channel is there, so you actually have to, your invoice gives up that that private channel exists to let it know it gives a routing hint to let it know so you're trusting that the person that you're sending an invoice to isn't sharing that information right and then this is different than running a node through tor or running it on clear net you can run a node on clear net and also use private channels uh so obviously best to use

tor plus private channel um but it seems to me i mean i you know we're not experts but it seems to me that like you run a tor node you run a personal tor node you have a private channel open with like one big node that you like kind of trust um as long as that big node doesn't fuck around with you you probably have pretty good sending privacy and if you coin join before you go into before you open the channel in the first place so you like coin join have a tor node open a channel with one one big channel with a routing node of choice and then never receive

only send you might have some there seems like privacy gain there yeah it seems like it Tim Ruffing sunned me on Twitter a few months ago I mean you're still kind of you're trusting that routing node that routing node could just be logging everything and then there's zero privacy again

and what's over it seems well while we're on lightning I'm like very bullish on lightning even though people are poo pooing it um lightning labs this week announced the closing of a another series a round because i already had a series a round how can you have two series a's i think do they extend the series i'm going i don't know um what 10 million dollars they raised 10 million dollars yeah and they announced the the launch of the the loop beta um lightning loop beta which is uh an app they've been working on

help around ux of onboarding and offboarding people uh on the lightning merchants in particular um and elizabeth stark wrote a a great um a great medium post entering the decade of lightning sort of laying out uh what she sees as um the big steps for the next uh the next decade and particularly revolving around lightning and how uh it it may be uh the thing that is talked about over the 2020s it's talking her book um lightning loop is interesting the beta release because they've been talking about it for a while and the idea is that you can rebalance your channels um without having to open and close them right by going but yeah you're doing like an off-chain you're doing it's like on-chain swap yeah um but what's interesting is they have a centralized

server that does the loop and they're they're charging for that service so if you loop out it's going to be 0.05 to 0.5 percent and if you loop in it's 0.1 to 1 percent um and i've been wondering this for a while i like how does like why are people investing in lightning labs like how do they like they um they maintain lnd uh but where do the where do they make a profit right so supposedly they're going to be releasing a bunch of services like this tools and services that they're going to charge fees on this is good or bad well we have a lot of lightning teams you know working on on different implementations we have like five implementations now but three big ones uh so you know lightning labs isn't lightning isn't just lightning labs uh so you know i don't

think there's a necessarily a problem with it yeah and i mean speaking of other implementations eclair version 0.3.3 was released this week by async um so that uh the big one there is multi-part payments uh which the other two c lightning and lnd both added multi-part payment support already so eclair is pulling up uh to meet that yeah this is actually pretty big too. Deterministic builds. So the core Eclair library can now be built

deterministically from source. There we go. Just got to slow it down sometimes. Awesome. And the other thing about Lightning Labs is you want these companies to have sustainable business models. You want them to be able to last a while and fund a lot of development

and it's just better for the system as a whole. This seems like a relatively reasonable way to make profit while developing lightning yeah and i think elizabeth's a great uh a great face for for bitcoin lightning she went on yahoo finance this week and and fed some chickens she she uh fed a polo feed the polio feed polio um one of my favorite applications of lightning it is crazy you just point your your phone at a at an invoice you pay uh i believe like seven cents and you feed some chickens that you have no idea where they are those lucky chickens those chickens are gonna get fat

whoever's on the uh who's ever going to be enjoying those chickens at their end of life cycle very lucky they're well fed um we'll just stay on the upgrades here btc pay server uh upgraded version 1.0.4.1 point excuse me one point what the fuck is that naming system i don't know sats the standard big big big update yeah you can finally price your invoice in sats it's huge it's actually i mean massive well let's talk about unibias for a little bit that's one of the biggest problems i see moving forward i think the exchanges should move to sats too because people are going to be looking at that people still don't conceptualize that you can buy a fraction of bitcoin yeah so i mean the key here is they were displaying balances and sats

already but like for instance on tftc we can't price any of our things like the dime bag is 10 cents and then it shows it in sats but we price it in usd cents now we can say like the dime bag is 10 000 sats or whatever you couldn't do that before you couldn't price it in set but whatever you know the point is like we should be able to price in sats so it's i'm really excited for that Yeah, shout out to the BTC Pay server team. Doing huge things. They came out with the Vault stuff last week. Always upgrading.

All right, 10,000 cents to the dollar. Yeah. Blockchain Green, they came out with version 3.3.3. I like that version number. Yeah, it's a lucky one. Ledger support on the iPhone with the Ledger Nano X because it has Bluetooth in it, so you can do two of two multi-sig with Green Wallet.

And a ledger yeah and ledger has their own app that you can use No block stream is one of the keys and and your Ledger's the other one And they already had support on Android with a USB cable wouldn't the block string key be the one on your phone that you that's It doesn't appear that way. No, that's what I thought the setup was gonna be But they seem pretty You know their model there there to to multi-sig model on the phone is is two-factor authentication. So you set either one of those time-based apps

or email or text, and then when you do that two-factor, that's why they sign with their key. I love GreenWallet, but I don't have the two-factor enabled. Yeah. Yeah, I got a hand up here. I got to experiment with GreenWallet more. I have it downloaded.

I have one while, but I have not been playing around with it. It's nice because it's on iPhone and Android, and it has Tor support, so even though you're sending your shit to their servers and they can link the UTXOs to each other, but at least you're not sending them your IP address. It just gets the job done. It's solid.

You were on the warpath yesterday, Lolly. requiring bank account linked requiring that you link a bank account to withdraw Bitcoin rewards there explanation via email was that they need to KYC compliance basically

linking your bank account is a way yeah so this is a Bitcoin withdrawal and for some users it triggers this extra step where they require you to link your bank account to basically

their reasoning is it complies with their KYC requirements while not giving them any identity information that they don't need to take any extra identity so they're basically trying to inherit the KYC of the bank account I mean my problem here is

and it's the bank saying hey we're gonna confirm that these guys are kyc like none of the none of the info goes the lolly though right i'm not sure you know i the the they i think they say that doesn't yeah but i my issue here is like at the time of withdrawal like when you're holding the funds hostage it's like ridiculous uh it just seems it's so user hostile like we've seen binance do it we've seen so many different custodians do it um and it's just fucked up i i like i know they have to comply um i hate kyc and i know like

complying companies have to do kyc uh i just i think all kyc should be up front uh instead of like after users especially since with like lolly there's like a 90-day waiting period for your funds uh but let's be clear here like lolly was never a private service to begin with like you they're getting tons of information about you uh it's kyc like as janine says kyc light yeah but this takes it to another step and just to be clear this wasn't a bank withdrawal it was to a bitcoin address and a couple people have reported it since uh what is it at crypto pamp was the first person to post a screenshot but fart face everybody fart face confirmed it a couple other people shut up farface goodbye bit piggy yeah so not great uh i really i mean even

before this like i i really like folds model better at least i think for lolly might be more easier for a pre-coiner someone who's never been a big coiner to use that interface um like the way they have their referral system set up but with fold like if you're a big coiner and you're willing to go through the gift card route where you're manually pasting gift cards in um it's it's nice because you can do it without an account um you instantly get the sats instead of waiting to see if there's a return or something because it's a gift card um and it does give you some additional privacy from uh your credit my credit card company just sees fold fold fold fold fold fold fold on my statement now and the merchant just sees that you're using a gift card uh so it does from

everyone but fold it improves your privacy a little bit um and it has amazon uh which is looking great i used uh i used it for uber this week been ubering stay off the subfold yeah stay off the subways and uh but the one thing to keep in mind here is that you know fold will probably have to add kyc at some point i really hope they don't shotgun kyc i mean i really hope they never add kyc but if they do i hope it's not shotgunned on people um all custodians have this risk if you have your money with custodians um you put your credit card in aren't you kyc basically yeah it's like it's like kyc yeah um that's true yeah so that's like just like the lightest kyc um and yeah none of these services should be private but anyway the the thing you have to remember here is

like no matter what whoever the custodian is if it's an exchange if it's a sats back service if it's lightning powered game um at any point they can withhold your funds lose your funds or take your funds so you got to always keep that to a minimum not your keys not your coins i if you like the service and you have to use it you know their model relies on a custodian then just keep that balance as low as possible like constantly withdraw so if it ever happens you can just you know eat the loss like if it's 20 bucks 30 bucks whatever you should all have a a number in your mind whether it be the amount of sats for the amount of u.s dollar uh to begin sweeping funds off off these apps um and make it and just make it a process and uh what's the word i'm

looking for make it a habit um and hopefully lightning will help on that front because you won't have to like wait for certain thresholds to make the fees worth it yeah um we talked about strike last week i was trying to think because that dropped like literally while we were yeah um this looks cool i don't like still trying to grasp my head i just saw the video and a little bit of rodolfo's explanations of it under the tweet uh cold card teasing a new hsm model um It seems like they're developing an app that'll let you create permissions for how to interact with your cold card.

Oh yeah, so this is dope. It's like, I kind of talked about it on the Matt Corallo and Val pod. We, he basically made it so like anyone could be like a BitGo. So you have a cold card and it can co-sign transactions in a set rule set. So you connect, you have one cold card that's got the HSM firmware on it,

and you keep it always plugged in, and it's connected to the internet, and if it gets any requests to co-sign, it checks its rules and then can choose whether or not it signs. It seems pretty cool. Be your own Bitco. Yeah, exactly. And you could, like, offer that to friends and family, too, if you wanted to. Like, if you had your HSM set up, you could.

It's all coming together, Freeze. Again, this shit takes time to build. And it seems like dope shit's being built. Rudolph is the boss. Just keeps pumping it out. Listen. Listen. Thanks, Dad.

Are we worried that there's more money locked in DeFi than there is in Lightning? Nope. It's amazing. The Ethereum people are just obsessed with locking up money. It's fascinating. It's the pump of mentals. Yeah. and like and again like number one apples orange comparison because again you're locking funds in

in lightning mainly for utility and hopefully a little yield in these defi it's all yield and the fact that uh you can you can get more utility by locking up less is actually a better sign in my opinion yeah i mean at the end of the day you just people when they make payments they should go through right yeah that's like i wrote about in the bent this week when we talked about the big max research piece like i've said on this podcast like i've had incredible experiences with lightning up to this point like set it and forget it and it's just fucking worked yeah i mean receiving is harder than sending but sending on low amounts like you should be able to do it pretty easily we've had no problems receiving yeah i mean you just need to have

about liquidity yeah but like stuff like phoenix and breeze help with that um should we talk about uh and lightning loop will help about that should help similar services should we talk about your impersonator i don't know just people are impersonating me all over on all the platforms just be aware be aware uh verify double check the usernames yeah um i will never ask you for an address or your mnemonic seed or something uh no i will never ask you to send me money so keep that in mind yeah um staying on the hardware side of it shift crypto released uh results their new tamper evident you see this this is fucking cool test um i did not see it so they like created do you remember when they created this tamper evident uh package to begin with like a couple

months ago and then they asked for beta testers and they sent it out and they were like try and break into it without people knowing and it seems pretty cool so what are they they're using so freezing bitbox tep to minus 196 degrees celsius well that's just an attempt to see if they can they have like this little pouch in the top that has these little uh beads yeah and so so they take a picture of how it looks and the ideas of the pouch gets manipulated in the open then you can compare it to the picture and you can see because it's it's what we talk about on the podcast a lot which is uh supply chain attacks when you get your hardware wallet mailed to you if someone intercepts it in the middle yeah this reminds me of um i believe peter todd talked about it a while

ago of another way similar to this seems similar to if you were to like a gloss over a part of the packaging with uh nail polish with glitter in it and take the picture similar to the same idea yeah the glitter polish yeah um again people get supply chain attacks are something uh that freaked me out we're actually going to be doing a giveaway on dig.com uh we're going to start launching shill here uh we're going to start launching uh the ability for people to publish content on dig and we're gonna have like a namespace where people can come and find good content about bitcoin and curation of stuff that's going on uh in the bitcoin world and we're we're thinking about doing giveaways to a cold card noddle um a bunch of other stuff but thinking

about how to how to uh architect the the giveaway uh it's funny like i don't think dig's gonna be buying this and then mailing it we're going to set it up with individual providers where the the winner of the giveaway will provide the information then we'll just pay for it and have it sent from the from the producer itself yeah just cut out dig from it all together otherwise they have to trust dig exactly but that's something like the supply chain supply chain something i've been thinking about all week actually yeah i mean you think about it all the time that's why multi-sig is gonna be so nice but also stuff like this is a big part of it um and i just think just the ability to like walk into a best buy and buy something with cash will be a big improvement

yeah um because most of the time with these supply chain attacks what you see is it's a targeted attack on like a couple individuals it's not like they compromise every single server in best buy they uh compromise the one server going to the place they want to go to yeah um that's again that's why i'm not that's why i'm a big fan of like junction and the bitboy not junction bitboy uh using junction and proof wallet and proof wallet i love that shit i i think this year is going to be a big year for uh multisig with your own node so i'm cautiously optimistic about that as well yeah it's um again i think it's getting slowly but surely a lot of people like to poo poo all this shit again it takes time i'm gonna i'm gonna repeat that until my

dying breath all this shit takes time and it is getting built um speaking of time the youngins the youths is what i wrote about today the zoomers are fighting back against uh instagram tracking so there was an article in cnet dropped a couple days ago which basically described the way in which uh the youth of the world are getting around instagram's tracking and it's pretty creative pretty fucking creative what they're doing is basically using loopholes within instagram's system to allow access to a single account by many users to throw off their tracking so you'll have users scattered throughout the country throughout the world even uh signing into the same account and uh just fucking with the metadata algorithms but instagram could block this if they

wanted to probably could but again that's and that's like the point i try to make in the bent this morning like what you should glean from this is that you have the youngest the younger generations innately creeped out by this tracking stuff and there's no there there's no history or or sort of blueprint for for the for uh for these kids to figure out how to do this they creatively figure it out themselves just right away from it and like definitely good to see so that's something like you have to think about what fucking world do we want to live in like you the youth of the world is creeped out by the the world that they're growing up in to the point where they're finding creative ways to work around this shit like is that really the atmosphere we want

to create for the for our kids i mean the next generation is going to have facial recognition in all their classes too so fight back speak up fight back i mean it's really good to see it's really good to see right that's what the monero comment was it was like the zoomers love monero right no i don't think so i like paul was that yeah it was tweeting polls right i muted that guy he's the guy he doesn't mind monero yeah i muted him get out of my men she's um uh citadel workshop finally got a spot yeah we do i think we only have 10 spots 10 tickets left let me see so get on it if you're having 10 tickets left and you can buy extra cold cards if you want to and then you don't have to i guess you have to like

kind of trust us a little bit but we don't open the seal or anything but at least you don't give your address to a cold card so you can pick it up at the citadel workshop so we're going to be doing cold card uh we're going to be doing using your cold card with your own full node using wasabi because i i still think even though i like samurai better for coin joints i think wasabi is a much easier way to interact with your hardware wallet than using electrum and electrum server um so you'll need a cold card you'll need an sd card uh you'll need a usb cable and a computer um and either a wall plug or a battery pack i tend to like the wall plug better it's more reliable big wall plug fan and uh i forgot that at my first workshop yeah so if you buy if

you buy a cold card we also are providing an sd card with that all right sweet um so there's 10 spots left that's going to be march 26th before bitcoin 2020 in san francisco uh the flat iron school is hosting us so shout out to them uh it's fucking awesome and it's gonna be 11 to 2 p.m and then uh btc pay is also doing something um i think that might be invite only yeah that's private yeah um so a custom and this was cool this week you you we mentioned it last week you uh got on the horn talking to the light night game guys uh we have a special weapon skin tftc does a custom weapon skin sexy as fuck uh so we got a link here uh if you guys want to pre-order light night um you're gonna get 20 off and this special skin yeah so as we said earlier wow it's

just a really productive week from episode to episode uh so that's fucking dope uh i uh yeah so light night we've talked about this before it's from the satoshi games guys uh it's a battle royale style game it's currently in development so they're using these pre-orders to fund the development um and the idea is that it's a battle royale fortnite style game that uses sats as the in-game currency so you can use it for skins and stuff like that or you can actually when you kill someone you earn sats from them um so i think that's really cool because i like gaming and i like sats uh and now we have a weapon skin so the zoomers love that shit i haven't gamed in quite a while this might be the first time i get back into it uh i can't remember the last time i picked up

the sticks honestly i don't know not yet what uh what are you picking up the sticks a lot these days no i actually haven't been been playing that much recently but i will when light night comes out i'm super i'm super excited for it and i just i like that you know you support the development of it uh it could be a big thing so yeah um that's all we got on the topic list what are we riffing on oh matt just i just spilled coffee all over myself i just spilled coffee um i uh you want to talk about zero hedge for a little bit oh yeah we can do that um yeah zero hedge banned and actually found out project veritas just got banned yesterday as well found that out before we hit record it seems that twitter is cracking down um on free speech uh again it's uh

so zero hedge they got in trouble for their coverage of the coronavirus um and their account has been banned for life um they said it was for doxing all right they said it was for doxing the information was public that they they shared but then they probably did what they uh what they uh implied was a little pay him a visit yeah it was very uncouth yeah and i mean i was i look i i'm a little bit torn on it i like i don't think anyone should have the power to to block anyone off these platforms like i think we need platforms that are distributed so people can't uh there's no central control over them to begin with um and then you wouldn't even be in this situation but at the same time like the reason they really blocked them is because that headline that they

ran with was like it was the most alarmist article ever like i i remember seeing it when i posted and it was you know they were saying uh it was basically like there's an hiv flu that like the chinese made that are gonna like kill us all and like people were panicking like fuck and twitter panicked and got and got them on a technicality on the docs bullshit right like that's what that was but do we know what's true and what's not i the likelihood that the chinese put hiv into sars or whatever to create this you know like super hiv bug thing is very very very negligible very low um but again we don't have all the data we don't know what's true what's not and i'm not saying it's true um i'm not saying it's true it's uh it's we're getting it's a slippery slope right

like who do we want the arbiters of truth to be and francis paulette uh from uh bull bitcoin tweeted this out a couple days ago uh he basically jumped into twitter's new uh internal rules and so their new rules will now label tweets provide warnings reduce their visibility and provide uh their own alternative explanations of what is true and what is false so if it falsely depicts content as reality twitter is going to flag it and and present what they deem to be the truth and that's where the slippery slope enters like who is the arbiter of truth no yeah i mean like i said i don't think uh i don't think these like anyone should have the power to censor these platforms like i think we need to move to a place where because the problem here is that twitter

is they put themselves in this fucking and i think that's why like jack wants you know like he's launching this blue sky group that he has uh to try and distribute twitter out more um and make it more of a protocol than a company because they're in this fucking horrible like this terrible situation where they're being held liable for the stuff that gets shared on the platform uh so then they they have to step in and and do this fucking shit right so really where we need to be is we need to be in a position where it is a protocol and it's not a company and that no one has that control so it's just all fucking moot in the first place and even in that situation there could still be moderation you just subscribe to like different moderation policies or whatever

you know and you'll have choice you can move around it's not like one company has control over that shit yeah i mean this is a topic that has me torn because twitter is an app a company that's provided my life with incredible value i would not be here right now without twitter twitter as a networking tool has got me to this point undoubtedly the most powerful tool in my life to get me to where i am today as when it comes to networking and and meeting people meeting you and yeah we met through twitter yeah a bunch of other love and it's just like it's so disheartening to see them having to to do this shit um and them doing it and like like a lot of people want to blame jack singularly but i do think that he does not like having to do this i mean it's bad for

business too yeah um so it's just fuck it's like fuck come on like why i i yeah i um yeah and like just tomorrow they can just just cut off your twitter existence with like no repercussions and no explanation they can just cut you off that's the fucked up thing like so uh michael krieger from liberty blitz craig he wrote a great piece on this earlier this week and basically highlighted the fact that now that zero hedge is banned uh you can't even go back and see their old tweets or people's responses to their tweets so you basically have like a whitewashing of history like whether you like it or not those tweets were a part of history and were archivable but now they are not and that's that's where like the sensor um the sensor rule gets scary right

yeah i just just wiping out parts of history yeah i just think yeah it's it's fucked up you know but it's like a lost cause like we need distributed platforms instead we don't you know um it's it it's it's like uh it's the logical extreme of what all these centralized platforms are going to always become yeah you're never going to be able to avoid it yeah unless it's distributed yeah And again, it seems like Jack wants that to happen. We'll see. I'll believe it when we see it. Same, same, same.

Cautiously optimistic. The words of the day. Yeah. That's all I got. That's all I got. I'm trying to think what else we could riff on. Privacy. Yeah, so there's a new school in another school district in upstate New York

that's adding facial recognition. Just fucked up. think about what you think about what you're subjecting your children to freaks uh you're gonna send them to go be surveilled all day is that what you want is that the world you want you want your world the world to be a place where your kid grows up creeped out and worried about being tracked always being watched always being watched big brother's watching you he's watching us and hopefully again speak up as we're as you're seeing uh speaking up works i think oh you want to talk about tesla i mean to the moon tesla it's under 700 again right hit 935

at one point higher i think right i'm not even sure yeah that's crazy that felt like 2017 uh i just feel like dot com bitcoin markets like irrational exuberance defined or personified just top things yeah yeah it's um i mean hopefully a lot of people maybe people were rolling their their tesla profits into twitter and that's why we pumped yeah into bitcoin into bitcoin when i say twitter twitter pump too twitter yeah twitter's up like 10 today yeah that's possible either or um yeah and and again uh it looks like we're i mean i'm not gonna say we're going into another bull market but somebody pointed out today went all time high marty i don't know but like again a lot of the shit coins are gonna pump too and the shills are

gonna come out they've already started they've already started ah i'm tired i don't you know I'm not ready for it. It's going to come, though. It's coming. I'm not ready for it. It's coming. We're not ready for it. Never ready for it.

Tired just thinking about it. Yeah, just think of, try to find the signal out there. There's illiquid shit coins can be gamed. Retail tends to be pretty dumb when they first get in the space. A lot of people just throw darts at the board. A lot of unit bias out there. Hey, who knows? maybe it's fundamentals and we're just jaded old geriatric fucks definitely not fundamentals

yeah but i mean look you're just the majority of people are going to get their ass kicked if they try and trade all the coins so yeah but you're welcome to try if you want to yeah everyone needs to touch the stove every once in a while your dick pushed in it's happened to us um yeah that's all we got we're now we're in stay humble stack sets peace and love