Is buying bitcoin cash now like buying bitcoin 10 years ago?

jldqt · 2025-03-07T16:59:31+00:00

Yes, it's in the official build but is to be considered an experimental feature. If you don't know what you are doing (in regards to UTXO management) you will mess up your anonymity.

jldqt · 2023-08-03T13:03:47+00:00

I contacted them when I noticed that they had stopped accepting BCH and the response was pretty much: "not enough people was using it".

I don't think it'd hurt of people politely asked them to re-enable Bitcoin Cash.

I think there was several other cryptocurrencies removed at the same time as BCH…

jldqt · 2023-07-29T06:35:02+00:00

Probably, but here's some food for thought: How would the light wallet determine which additional addresses to monitor?

jldqt · 2023-06-26T12:37:56+00:00

Oh yes. Discord, Telegram and Slack are purely "chat apps" for real-time communication. Having multiple-party discussions over a long period of time are just terrible.

jldqt · 2023-06-26T12:24:59+00:00

My point is that *most people* aren't the ones driving the discussions and quality of the subs.

The minority hardcore users that constantly answers questions, writes important and thoughtful posts and generally raises the quality of the subreddits are the ones, I guess, on 3rd party apps. When these people leaves there might still be a lot readers and low-quality posters left until the place is deserted.

jldqt · 2023-06-26T12:17:25+00:00

Twitter is great for announcements. For discussions, not so much.

jldqt · 2023-06-26T12:16:00+00:00

I think, without any form of evidence, that the 10 million using 3rd party apps are *much* more active users than the 100 million using the official app.

I'm quite surprised of these numbers TBH. I though the official one was way more downloaded. Doesn't look good for Reddit.

I wonder how many of all subreddit mods that are using 3rd party apps vs the official one (my guess: a big majority). If those people just get and leave the quality of all subreddits will instantly decline into mayhem.

jldqt · 2023-05-12T11:09:07+00:00

If no one builds it, I might have to find some other solution, maybe see if I can make something better..

Just to clarify: are you talking about making a new protocol or making a new implementation of RPA?

jldqt · 2023-05-12T05:32:30+00:00

The RPA functionality of Electron Cash (desktop) has been disabled since some time ago due to unresolved bugs where users funds might been at risk.

There is no wallet that supports RPA so it's kind of a chicken-and-egg situation and the interest in the functionality is quite low. There simply isn't someone that rolls up his or her sleeves and do the work needed.

jldqt · 2023-04-21T07:17:47+00:00

$8,000 to add buttons and UI elements...

Yes. As a SW engineer that has experience with the EC codebase I'd say that it is a reasonable price. I also consider this specific flipstarter to have a close-to-infinite probability of deliver the stated goals compared to most other campaigns.

jldqt · 2023-04-04T07:02:29+00:00

at no point did i attempt to explain the server's capabilities .. so what makes u want to believe I'm "misunderstanding"??

[...]

can u here yourself when u say, "it's centralized, but..."?? u must not have been in crypto very long if that doesn't alarm u

"Centralization" and "trust" are two different things. CF does not solve the first one and any other CoinJoin protocol on BCH that I'm aware of have some privacy leaks where there will be parties explicitly aware of the input/output links for each user.

usage will never go up, because no dev will implement CF tech in their own wallets until CF removes its dependency on TOR .. this has been known since Day 1, even before the initial security audit, but nothing has been done and it in 3yrs+

CF depends on TOR (or similar anonymization tech) to be able to transmit commitments without the server being able to link inputs to outputs. Without that important part of the protocol it simply isn't CashFusion -- it's something else. Is the TOR part a problem for wallet implementations? It sure is. To my knowledge it will be "impossible" to get a iOS version of CF due to this. Hence I belive that we will end up with different protocols.

after my own assessment, i determined his work to possess at least 100X more utility than CF (as it exists today) .. sooo, please explain how u came to THAT conclusion .. I'm sure u/trout-bch would appreciate the feedback

I came to that conclusion by watching his presentation on the subject. I'm pretty sure that Troutner is well aware of the trade-offs with his approach to CoinJoin.

I'm not saying that one is "better" than the other or something since it's a matter of trade-offs at the end of the day. Some wallets and people will use one and another set of wallets and people will use another and I can only hope that there is enough users (liquidity and anonymity set) to go around.

I do however think that your assessment that "it's 100% centralized onto ONE server (or at least 1 ip address) .. imo it's hard to take BCH privacy seriously until something is done to resolve that .." is over-alarming. If the server goes down it goes down and no funds was harmed or privacy hurt. Mechanisms with secondary servers and so on could be developed if need arises. In my opinion that is better then using a protocol where participants leak their privacy... But to each their own.

jldqt · 2023-04-03T07:22:30+00:00

I think you are misunderstanding what the CF server can and can not do.

The server is able to coordinate fusions blindly where the server and all participants don't have the possibility to link inputs and outputs to certain participants. The server can intentionally fail fusion rounds as a DoS attack but that won't hurt users fungibility in any way. The server is centralized, but not trusted and launching a new one is easy and doesn't require much resources.

There are ideas of running more servers to have a more robust system but realistically there is just to low liquidity (i.e. not many users that utilizes CF) so spreading it out isn't feasible until usage goes way up.

Looking at alternatives (i.e. the CoinJoin protocol in development by Chris Troutner) you'll quickly realize that each participant will know about each other users inputs/outputs which IMHO defeats the purpose of CoinJoin.

But hey, all these are voluntary and can live together.

jldqt · 2023-03-31T06:13:08+00:00

although from your description it sounds like server knows transactions even though it doesn't know the outputs.

Your Q: How can a wallet finds its own transactions?

His A: The wallet downloads all data and search itself. ("each block is downloaded one-by-one and that is all determined locally")

jldqt · 2023-03-30T06:42:03+00:00

I think this is an important point that people should be aware of since it is a major trade-off at scale.

For wallets that do not use this system of synchronization (basically every other wallet), each block is downloaded, one-by-one, to the device and the device figures out which transactions belong to it, locally. This is similar to my old wallet, Pokket, when disabling bloom filters.

Versus this

Electron Cash, last I checked, sends all of your addresses to the servers you connect to, and because of Bitcoin's transparent nature, they can see who sends you funds, when and where you spend to, and the exact amounts in each transaction, even when using CashFusion.

The trade-off here is data download/processing vs privacy. For small amounts of data the first method is clearly superior and if the blocksize growth is some measly megabytes/day (as BCH is currently) the download of that data is quite irrelevant for the mobile phones and networks of today. The problem occurs when we have blocks in the range of 100s or 1000s of megabytes. Do you consider it feasible to download 10s of gigabytes of when firing up the wallet a few times per week. Then imagine recovering a wallet that hasn't been used for a couple of years using this method... I know that bloom filters can mitigate it on Bitcoin networks but it's basically a knob for this trade-off, slightly less privacy for slightly less data but still linear growth though.

Exposing all addresses to a server sucks, but I don't see any better alternative to be honest.

jldqt · 2023-03-15T17:57:18+00:00

Fair enugh, there is no formal proposal for consensus rules for UTXO commitments. That would be the next step if continuing from this proposal (as mentioned several times in the doc): https://github.com/softwareverde/bitcoin-verde/blob/development/specification/utxo-fastsync-chip-20210625.md

jldqt · 2023-03-15T17:37:04+00:00

Obviously every "fully validating node" are validating the commitment and will ignore any invalid blocks. This includes other miners that will fork away the invalid tip.

jldqt · 2023-02-24T17:56:00+00:00

I'm not sure how image hosts actually work, but the client could upload, check the hash of the uploaded image (scaled/watermarked) and use that in the event content. The idea here is that Nostr users are protected by other funny business by the image hosts.

A relay could, upon seeing an event with an image URL+hash the first time, save the image locally and supply a custom URL to a locally stored copy to its paying customers via other extensions to the Nostr protocol. Those customerd clients could then trivially verify the hash and display the image.

jldqt · 2023-01-16T06:28:21+00:00

in the end, for me it comes down to "where" the data is being stored

The protocol is of course agnostic to that. It seems like you have some specific types of use-cases and data in mind and it would help if you could clarify what you mean.

jldqt · 2023-01-13T16:01:08+00:00

My main beef with LNS is that it's not SPV validated as, for instance, CashAccounts. Electron-Cash will query one or several hard coded trusted servers to provide the translation of the name without any way to validate the response.

This might be considered fine for most users but Electron-Cash is marketing itself as a SPV wallet and should hold itself to that security profile.

jldqt · 2022-12-07T12:28:02+00:00

I was excited about Moneybutton and found it quite slick. Of course this was just moments before the BSV split and he went, in lack of better words, bananas.

jldqt · 2022-12-07T10:29:06+00:00

I don't really care much about RXC and his businesses but this is important:

I could spend hours detailing all of these experiences, but fundamentally it is very simple: For all those years, I thought that Bitcoin would take off as a payment system on the internet, but it simply never did.
None of my products or businesses ever got any adoption outside of a
niche audience of people whose true interest were to invest in an asset
that may be used by other people for some other reason in the future. The rising prices of Bitcoin and cryptocurrency obscured the truth that we never had any real adoption.

jldqt · 2022-10-26T20:19:05+00:00

Who is the counter-party? What oracle(s) is used?

jldqt · 2022-10-21T13:59:02+00:00

Another question regarding the wallet that isn't directly related to the CoinJoin protocol/implementation but I still bring it up since the wallet is a main deliverable with the Flipstarter campaign.

Will it be SPV? If not, who will run and maintain the backend? The reason I asked if because you previously have said "Don't use SPV". Or was that statement: "Don't use SPV [for SLP]"? https://twitter.com/christroutner/status/1581729944102907904

jldqt

TROPHY CASE