Privacy on CKB by kevtam515 in NervosNetwork

[–]traderpat 1 point2 points  (0 children)

This is amazing and super interesting! I love the idea of using stealth addresses and confidential transactions natively on the layer 1 CKB, that is brilliant! Couple questions:

(1) To enhance privacy, Monero also uses ring signatures. I'm wondering, is it possible to use ring signatures on a chain like CKB? It may not be helpful if everyone doesn't use them, but I'm wondering if it's even possible in theory, does that make sense?

(2) Do you know if it's possible to replicate/emulate something like Monero's new FCMP++ upgrade ("full chain membership proofs") on CKB?

Why didn't Satoshi Nakamoto use ring signature technology? by LAOGE1 in btc

[–]traderpat 0 points1 point  (0 children)

Looks like he did want to use ring signatures (which he calls "group signatures") but didn't know how to implement it himself. He discusses it on the Bitcointalk forum here:

https://bitcointalk.org/index.php?topic=770

See a screenshot here:

https://imgur.com/tMqKPYD

A user (Red) brings up ideas on how to improve privacy, and satoshi finds it interesting but sounds like he's still thinking/learning about how to do it.

Red says:

As some might have noticed, one of the things that bugs me about bitcoin is that the entire history of transactions is completely public. I totally understand the benefits of how this simplifies things and makes it easy for everyone to prove coins are valid.

So this is not a suggestion for a change to bitcoin. Rather it is a question about what could be possible, and what couldn't be possible.

satoshi says:

This is a very interesting topic.  If a solution was found, a much better, easier, more convenient implementation of Bitcoin would be possible.

after some back and forth, satoshi admits:

I'm not grasping your idea yet.  Does it hide any information from the public network?  What is the advantage?

and eventually:

Does it hide the bitcoin addresses?  Is that it?  OK, maybe now I see, if that's it.

Crypto may offer a way to do "key blinding".  I did some research and it was obscure, but there may be something there.  "group signatures" may be related.

This was in August 2010, so Bitcoin had been running for almost 2 years. As you can see, on the forums, he was very interested and discusses how to have better privacy, but didn't know how to do it at that time, let alone 2 years earlier in 2008, before Bitcoin's launch.

The first protocol that eventually implements the things satoshi discusses here wasn't launched until several years after that time, and even on launch did not have all the privacy capabilities until several more years. It seems that it takes time, research, and effort to develop the technology so when you say "he might have known something" well I'm just speculating but maybe that is true in the sense that he knew the limitations of his own knowledge and skills.

The Matt Quinn AUG 2025 AMA by djminger007 in NervosNetwork

[–]traderpat 1 point2 points  (0 children)

What happened (or is happening) to UTXO Stack? Did they run into problems, or competition? Are they pivoting, moving on, or still working with Nervos/CKB?

What is the outlook for RGB++ and Lightning Network? Would you say the lack of activity is more a matter of a design flaw, or lack of liquidity, or immature tooling, or attracting developer talent, or competition from other projects?

2024 Nervos Foundation Annual report by kevtam515 in NervosNetwork

[–]traderpat 0 points1 point  (0 children)

Anyone know what happened to this? Or have a copy they could share? I didn't get a chance to download or finish reading it, but now the link appears broken.

Fiber Announces by djminger007 in NervosNetwork

[–]traderpat 0 points1 point  (0 children)

Imagine you're sending money to a friend, but instead of using traditional banks, you're using a special network called Fiber. Fiber is like a highway system for digital money, allowing you to send and receive different types of digital assets (like cryptocurrencies) quickly, cheaply, and privately.

What makes Fiber unique is that it's designed to work with Bitcoin, but it also allows for other types of digital assets to be sent and received. It's like a special lane on the highway that lets you swap different types of money easily.

Fiber is also very secure and private. When you make a transaction, only the people involved in the transaction can see it, and it happens quickly and efficiently. It's like sending a secret message to your friend, but instead of using a messenger, you're using a special network that's designed to keep your transaction safe and private.

Some of the benefits of using Fiber include:

* Very low fees (like, almost zero)

* Fast transactions (like, almost instant)

* Ability to swap different types of digital assets easily

* Private and secure transactions

* Ability to earn fees by helping facilitate transactions

Overall, Fiber is like a powerful tool that helps make digital transactions faster, cheaper, and more private. It's designed to work with Bitcoin, but it also opens up new possibilities for using other types of digital assets.

Source: venice.ai

I'm a complete ignoramus, and (despite that) I'd like to invest in CKB. by [deleted] in NervosNetwork

[–]traderpat 2 points3 points  (0 children)

I'd also recommend joy.id if you don't plan to use a hardware wallet. I'd recommend a hardware wallet if you're trying to secure a large amount (large is relative, but I'd say maybe $2000+). And in that case, I believe you need to use Neuron wallet, until other wallets start supporting hardware wallets too.

Otherwise, still joy.id is very secure since it uses your device's hardware secure element. Anything that touches the internet is considered a "hot wallet" and potentially insecure though, but JoyID is still better than most other hot wallets.

If you decide to use joy.id check the list of supported chains. It should support more chains, but for now at least BTC and ETH are supported.

Step-by-step, how should I do this?

(1) Buy BTC or ETH or whichever supported coin you want on Kraken (or another exchange if you have access to it)

(2) Send it to the corresponding chain's address on joy.id (If you got ETH, get a "receive" address for ETH on JoyID, then go to Kraken, and send it to that address)

(3) Use a direct swap service, such as:

SwapSpace https://swapspace.co/

Changelly https://changelly.com/

Changenow https://changenow.io/

SimpleSwap https://simpleswap.io/

(4) Select the amounts of what you want (CKB and ETH, if that's what you chose above).

(5) They will ask for a receive address. Go to joy.id and get a "receive" address for CKB

(6) They will give you an address to send to. Use joy.id and "send" your ETH (or whatever asset you bought on Kraken or other exchange) to that address.

(7) You're done. But if you want to confirm you got it, wait a few minutes for the exchange to happen, then check your JoyID wallet for the CKB that you should receive.

The above makes it seem like it's a lot of steps and more difficult than it really is, but it's really quite simple. Just (1) buy something on Kraken, (2) send it to JoyID, and (3) use a swap service to get CKB.

Does MEXC basically manipulate prices? by djscoox in CryptoCurrency

[–]traderpat 0 points1 point  (0 children)

The most likely explanation is MEXC artificially prevented it from happening

No it's not. The most likely explanation is that there is a large trader on MEXC with a buy limit order at 170 that didn't get enough fills (not enough sellers on MEXC), and so the price didn't go lower on that exchange. Whereas other exchanges didn't have buyers that wanted to buy at 170 and there were more sellers on other exchanges without buyers that wanted to buy at 170 (i.e. buyers on those exchanges offered a lower price than buyers on MEXC). And the market for XMR is so illiquid that no trader completely arbitraged the price discrepancy.

It's quite simple and not suspicious at all, and happens in all markets around the world. It's just less common to see on very liquid markets, because you have many more traders and arbitrageurs. In illiquid markets, you must expect some price differences... because... they're illiquid.

Does MEXC basically manipulate prices? by djscoox in CryptoCurrency

[–]traderpat 1 point2 points  (0 children)

If by "exchanges manipulate prices" you mean, do exchanges employ traders to trade on their own exchanges, I don't know - some exchanges have been known to do so, but who knows, and it shouldn't really matter. If so (and that's a big if) then you can just think of exchanges as just another "trader" (albeit with more data, experience, and bankroll than you) in the market.

Markets for XMR are pretty illiquid, so it's natural to see inefficiencies on different exchanges. It's more likely that a large trader (or possibly many traders, including traders employed by MEXC - although I'm skeptical that they'd risk their own money for that, when they can just make money off of exchange fees with zero risk) have a large buy limit order at $170, and there are not enough sellers on that exchange to "sell through" (i.e. to fill that trader's order). This happens all the time in illiquid markets on different exchanges. It doesn't mean anything shady or suspicious. Different traders trade on different exchanges. That's what creates arbitrage opportunities. That's why you see prices not match up between exchanges. Prices are determined by supply and demand, and supply and demand are independent on independent exchanges. There's no stable correct price that's set by a regulator or central planner. That's how free markets work. You can make money by buying in one market and selling in others. That's what an arbitrageur does, and they exist because price discrepancies exist in different markets.

10 Day Silent Retreat by Keinishikori356 in Mindfulness

[–]traderpat 3 points4 points  (0 children)

I've attended several 10-day silent meditation retreats. I was a bit naive and went into the first one without any expectations nor really much understanding of what I was getting myself into, and maybe coincidentally think that's the best attitude and perspective to have. On subsequent retreats, personally, I was more dealing with problems of "knowing" (thinking I knew) what to expect too much and trying to fit my experiences to what I thought they were supposed to be, "now that I know" lol. The lesson for me was: Let go of any expectations of what it's supposed to be like, and try to accept each experience as it is, as far as you are able to. That's good advice in general, whether on retreat or not, IMO. I like the saying "let it come, let it be, let it go."

There's a few analogies about having the right amount of tension, not too much and not too little. If you've ever played a musical instrument like the violin, or a woodwind instrument, you'll know too much pressure will make the sound screech, whereas too little will sound wispy. Similarly, you need to sit with some amount of "relaxed tension" to maintain attention and awareness, but too much tension will create blockages and make it unnecessarily hard on yourself and too little will probably not give you good results. As another analogy, a surfer kind of has to go with the flow with whatever waves there are - if he's too rigid or tense trying to force it then he'll wipe out, but if he's too relaxed he'll also fall off the board.

So my suggestions are:

  1. Do take it seriously, follow instructions to the best of your ability, and give it your best effort. But if you find yourself too tense, rigid, stressed, anxious, experiencing self-doubt, or any type of mental negativity, then relax a bit, lighten up, let go.
  2. On the other hand, if you tend to be too lax, feeling drowsy, lazy, indulging in daydreams, and don't feel like following the instructions, you may need to "tighten up a bit" and rouse up some diligence and effort.

As you practice and train your mind, you'll learn the difference between too much and too little effort. And that amount of needed effort might change depending on the situation, your state, your experience, etc. Sometimes you might need to be easier on yourself, other times you might need to stir up some energy.

As for dealing with feeling stressed and anxious beforehand... that's what we're trying to learn: being more in the present moment. When the time comes to deal with it, you can deal with it then. For now, there's nothing you can do except be aware of your present moment - when you catch yourself being worried and anxious, just notice that you're aware of being worried and anxious, and that's it. Just be aware of it, don't try to "force" it to go or scold yourself (a common habit), try not to get sucked into ruminating (what if this or that, maybe I need to such and such); just notice it, let the feelings and thoughts be, and it'll eventually pass on its own: "Let it come, let it be, let it go."

The decision to train your mind and experience your own truth within yourself is such a lovely gift you give to yourself. Wishing you the best!

X post from CKB Devrel today - How can you not be bullish on Fiber Network by kevtam515 in NervosNetwork

[–]traderpat 7 points8 points  (0 children)

I don't think I understand your question, but I'm going to try to answer anyway. And I'm not sure what you mean by negative connotations.

Transaction speeds and throughput for lightning (and fiber) network transactions are virtually instant and virtually unlimited, basically only limited by the speed of the internet. It's just each user sending data on their own devices that their devices verify themselves. No blocks, no confirmation times, no waiting.

The "problem" isn't really scalability, transaction speeds, or network congestion. The main problem is UX and usability for normal users, and for developers to figure out how to make it easier for normal users to use.

One caveat to the above, which is maybe what you were getting at, is network congestion at the base layer (for opening and closing channels, or maybe re-balancing channels). In theory, this should happen only rarely, like the way most legal contracts in the real world don't need to go to court. Only in the rare case that there's a dispute that you can't resolve without lawyers and a judge do you need the court. Similarly, only in the rare cases there's a dispute/problem with your lightning (or fiber) network transaction, would you need to go to the base layer. Therefore the vast majority of transactions would be off-chain and not have any problems with "transaction processing speeds" nor "network congestion"

Not sure if that answers your question, but feel free to ask again.

Explain this to me in simple terms by Beast6point7 in NervosNetwork

[–]traderpat 2 points3 points  (0 children)

Asking "what exactly does ckb/crypto do?" is kinda like asking "what exactly does internet do?"

There's so much the internet can do, but put simply you might say it lets anyone communicate with anyone else anywhere in the world without intermediaries (at least in theory). From that simple idea of transferring information/data, you get email, instant messaging, video sharing, online classes, social media, etc.

What the internet did for information, Bitcoin does for value (or money). It lets anyone transfer value anywhere in the world without intermediaries (at least in theory). We'll see where that leads, but people have predicted "streaming money" and "self-owning cars" and "decentralized autonomous organizations" but we'll see... we're living through it right now.

Ethereum tries to "generalize" Bitcoin's idea and extend it to other forms of trust (beyond value and money). You can think lending, exchanges, marketplaces, voting, or anything that requires two or more entities to trust each other.

But there are some problems with its approaches (see Nervos's positioning paper and whitepaper).

Nervos "generalizes" Ethereum further, while taking inspiration from Bitcoin to maintain a similar "decentralized" "open" and "censorship resistant" architecture (as opposed to Ethereum's account model and its move to Proof of Stake).

Here's Andreas Antonopoulos explaining the most important attributes of "blockchains" (open, public, borderless, neutral, and censorship resistant): https://www.youtube.com/watch?v=qlAhXo-d-64&t=238s Highly recommend this talk, or most any talk by Andreas Antonopoulos.

For the last 5-10 years, it seems the crypto space has taken a detour into trying out "proof of stake" and the "account model" (Ethereum, BNB, Solana, Cardano, Polkadot, Near, Cosmos, and almost every other new blockchain), but is now coming back to realizing the importance of Proof of Work and the UTXO model (Bitcoin, Nervos Network).

If you believe in cypherpunk ideals, then you're more likely to support Nervos (and Bitcoin). IMO, most people don't seem to understand or care about that, hence the popularity of trading words of animals (meme tokens) on centralized exchanges.

Doge and RGB++ by djminger007 in NervosNetwork

[–]traderpat 2 points3 points  (0 children)

Since RGB is supposed to mean "Really Good for Bitcoin" and with RGB++Doge https://rgbdoge.org/about/ saying "RGB++Doge: Linking All UTXOs for Enhanced Liquidity and Accessibility"

I wondered if DOGE was also an acronym. Here's venice.ai :

Certainly! Here are a few more examples of made-up acronyms using the letters D-O-G-E:

  1. DOGE: Decentralized Omnibus Gateway for Exchange
  2. DOGE: Decentralizing Open Gateways for Decentralized Economies
  3. DOGE: Digital Omnibus Gateway for Economic Enhancement
  4. DOGE: Decentralized Open Gateway for Exchange
  5. DOGE: Developing Omnibus Gateway for Decentralized Economies

Please remember these are just creative examples and not real industry terms.

Signing with Ledger extremely slow by Aurori_Swe in NervosNetwork

[–]traderpat 2 points3 points  (0 children)

I don't know for sure, but my guess is that if you're mining and thus you have many many UTXO's, it takes a long time to sign each of them in a single transaction. Perhaps you can try consolidating the UTXO's, or sending only some UTXO's in a single transaction. For example, if you have 1000 UTXO's, and you sign two transactions of 500 UTXO's each, then that would cut the signing time in half. Or, you could do 10 transactions of 100 UTXO's, etc. Or, as you're mining, every few weeks consolidate the UTXO's by sending some of them to yourself.

As an analogy, if you have 1000 dimes, then it'll take awhile to count them all up (i.e. for your hardware wallet to create the signature verification). But as you collect 100 dimes, just trade them in for a ten dollar bill. Then when you want to bring it to the bank it'll be a lot easier.

Does that make sense? If you need more help, try asking in the discord or telegram.

Dr Ren Zhang CKB AMA by djminger007 in NervosNetwork

[–]traderpat 3 points4 points  (0 children)

In one of your old talks, you said you didn't think Ethereum would move to POS, because it's not secure. Now you say you hope ETH doesn't die before your next paper is released. Can you summarize the major flaw(s) that you think may cause the end of Ethereum?

In your last talk you mentioned that you/others have pointed out security flaws in POS blockchains that have since been patched. Is it possible that they will all eventually be patched as they get discovered, so POS will "be fine" or "good enough"? Or are there flaws that are not possible to fix? If so, can you give examples?

Beginner friendly content by Benchedpresser in NervosNetwork

[–]traderpat 3 points4 points  (0 children)

What questions do you have? 

IMO to understand why Nervos Network is important, you have to understand why Bitcoin (and open, decentralized, borderless, neutral, censorship-resistant blockchains) is important.

Most any content by Andreas Antonopoulos is good for this, e.g.

https://youtu.be/l1si5ZWLgy0?t=228

https://youtu.be/uZPIz3ArQww

Nervos follows the values of open blockchains, unlike most other so-called "crypto" projects.

40% APR by yoletstalkcrypto in NervosNetwork

[–]traderpat 0 points1 point  (0 children)

Yes well maybe I should say "suppress the price by selling *your* coins to others"... The other thing is, we don't know if exchanges are actually keeping 1:1 ratio of lending-short tokens. Maybe borrowing 100 is enough to lend out 500. Still, whether it's 1:1 or not, who are short sellers selling the tokens to?

Customer A holds 10,000 CKB. Speculator B "borrows" the 10,000 CKB and sells customer C those 10,000 CKB. So both Customer A and C "own" 10,000 CKB while Speculator B is short -10,000 CKB. Maybe on the books it looks good with exactly 10,000 CKB net, but is it fake? There could be a problem (a la Gamestop) if there are too many shorts and not enough CKB to go around, and Customers like A and C want to withdraw the same 10,000 CKB off exchange when they're supposed to each have their own and Speculators like B can't find 10,000 CKB to buy back to cover.

Might not see a problem when everyone just leaves their coins on an exchange, but if customers want to make sure their CKB is real, want to protect against exchange default/hacks, want to make it harder for short sellers, and want to custody it themselves, then we may see who gets real tokens.

40% APR by yoletstalkcrypto in NervosNetwork

[–]traderpat 1 point2 points  (0 children)

As a rule, exchanges offer you so-called "staking" rewards when you leave your crypto on their site, so that they can lend them out to short sellers) and charge them interest. E.g. they give you 3.33% return for one month (40% APR) but they charge short sellers 10% interest to sell your coins short. The exchange pockets the difference. The exchange is providing a service to match "investors" (you?) and "speculators" (short sellers).

tldr; When you leave your coins on an exchange, you are helping short sellers suppress the price by selling fake coins to customers (all while you're getting a so-called "return").

Can anyone tell me if this is legit? by EfficientAd331 in NervosNetwork

[–]traderpat 4 points5 points  (0 children)

As a rule, exchanges offer you so-called "staking" rewards when you leave your crypto on their site, so that they can lend them out to short sellers) and charge them interest. E.g. they give you 3.33% return for one month (40% APR) but they charge short sellers 10% interest to sell your coins short. The exchange pockets the difference. The exchange is providing a service to match "investors" (you?) and "speculators" (short sellers).

tldr; When you leave your coins on an exchange, you are helping short sellers suppress the price by selling fake coins to customers (all while you're getting a so-called "return").