Woke in a middle of the night due to panic inflation thoughts
SBW
npub1chxa...rjdd
An OG Simple Bitcoin Wallet, it's been through a lot but it's still rolling and the best is yet to come. Proudly made in Ukraine.
an example of freedom tech is155mm projectile headed your enemy's way
Guys I care about inflation so much, please give this note a like
Btw fuck assange and the rest of these russian cocksuckers like snowden and a like.
Bluesky Social
Bluesky (@bsky.app)
One million new users since we opened Bluesky yesterday!
Welcome to Bluesky!!! ๐
Are you ready for ETF, the most important event in bitcoin since its inception?
I think I'd be OK paying $10-12 yearly to some well established relay if it comes to it. My only request is please don't make me deal with LN and accept fiat payments.
As to Fedimint, I only have two technical questions. Say, a majority of minters have colluded to steal user funds, is it then possible to cryptographically prove that:
1. A stealing money transfer was not authorized by any federation users (so it is in fact a steal, not just business as usual)?
2. It is known which exact federation members have signed it off and it is known that all of them understood it's a stealing transfer when signing it?
If the answer to any of these questions is NO then I'm afraid Fedimint is often worse than a single custodian in a way that they may steal money and avoid legal responsibility.
Since it's a custodial solution an enforcement ultimately lies in realm of law, and the problem with group crimes like this is you need to determine who exactly committed a crime here, otherwise a whole group can't be punished (because they all will be pointing at each other, and some of them may be innocent, and then you have presumption of innocence at play).
Please help me out here, here's a scheme:
1. Strike user authorizes a $100 worth LN payment to website, internally strike converts them into BTC which at the moment costs, say, $100000.
2. Website holds incoming 0.001 BTC payment for, say, 6 hours.
2.1. If BTC price rises during that time to, say, $110000 then user has sent $110 at that point. Website accepts a payment, converts it to USD, sends $105 USD back to user.
2.2. If BTC price declines during that time to, say, $90000 then user has sent $90 at that point. Website cancels a payment.
2.2.2. If $90 gets back to user account at Strike, then Strike users are susceptible to an attack where payee is incentivized to hold each incoming payment they send.
2.2.1. If $100 gets back to user account at Strike, then Strike itself is susceptible to this kind of attack.
Has this been discussed?