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"Ecash got reintroduced with the two open source projects Fedimint and Cashu. In my opinion, the main reason for this revival is the following fact: Unlike an implementation of ecash in the fiat world, that would rely on the permissioned system to “allow” something like ecash to exist, bitcoin does not come with that limitation. The permissionless nature of bitcoin allows for these protocols to exist and interoperate with the existing bitcoin stack." — Gandlaf21 Can a centralized and custodial system like Ecash, which prioritizes user privacy, peacefully coexist with Bitcoin's decentralized and permissionless architecture? Or does it undermine the principle of self-custody, potentially luring users away from personally holding their coins? This examination dives into the advantages and disadvantages of Ecash, considering whether it can offer a more private and accessible experience for users intimidated by the intricacies of managing their own cryptocurrency, and what this might mean for the evolution of financial services. A more pressing concern is the possibility that Central Bank Digital Coins (CBDCs) or private bank digital coins may adopt the Ecash system, potentially leveraging its privacy features to create a more palatable and user-friendly experience for their customers. This could have far-reaching implications for the future of financial services, as it may enable traditional financial institutions to offer digital currencies that combine the benefits of cryptocurrency with the convenience and familiarity of traditional banking. The key issue is whether the integration of Ecash with CBDCs or private bank digital coins could coexist as a complementary solution that expands the reach and accessibility of digital currencies. As the financial landscape continues to evolve, it is essential to examine the potential benefits and drawbacks of Ecash and its potential applications in the context of CBDCs and private bank digital coins. Link to article: Ecash on Bitcoin

Ecash on Bitcoin

Gandlaf

Phishing Scams: A Threat to Your Digital Life. As we rely more on technology, our phones, and email accounts become the main doors to our personal info and money. To stay safe, it's a good idea to be suspicious of any messages or requests from people you don't know, and assume they might be trying to scam you until you're sure they're legitimate. How to Lose a Fortune with Just One Bad Click

How to Lose a Fortune with Just One Bad Click – Krebs on Security

Digital Gold is reviving the concept of sound money for humanity, offering a store of value that endures over time and can be easily transferred across distances, thereby overcoming the limitations of physical gold in the digital age. Digital Gold = Bitcoin

Strike, a global bitcoin payments service, has expanded to 65 more countries across six continents, introducing USDT (U.S. dollar equivalent) support and a revamped app. This development has significant implications for global adoption, particularly in countries with weak currencies or high inflation rates. The expansion brings Strike's effective reach to 3 billion people, with the ultimate goal of serving 7-8 billion worldwide. The service promotes financial inclusion, economic stability, and global connectivity by: 1. Providing access to a stable financial system for underserved communities. 2. Mitigating inflation effects with a U.S. dollar equivalent stablecoin. 3. Facilitating cross-border transactions and international trade. Overall, Strike's expansion is an important development in the world of finance, with potential to promote economic stability and global connectivity. Strike Expands Global Reach, Introduces USDT Support And Unveils Enhanced App At Bitcoin 2023 Conference https://www.nasdaq.com/articles/strike-expands-global-reach-introduces-usdt-support-and-unveils-enhanced-app-at-bitcoin

Discrete Log Contracts have existed for some time, but development can be challenging due to the numerous potential pitfalls. The DLC DevKit aims to simplify this process by providing a streamlined approach to building DLC projects. Leveraging rust-dlc under the hood, it cleverly abstracts the Oracle, Storage, and Transport components through traits, making development more manageable. This tool is definitely worth exploring if you're interested in creating a DLC application. Introduction to DlcDevKit Creating DLC applications is hard, but it does not have to be. DlcDevKit allows application developers to focus on the user experience. Not the complexities of Bitcoin and DLCs.

introducing dlcdevkit - benny b's blog

introducing dlcdevkit - benny b's blog

“Ossification is complacency. Yes, we all agree that Bitcoin is great. But _I do not agree_ that Bitcoin has reached its full potential. I think complacency is one of the greatest threats to Bitcoin — we must not rest upon our laurels.” — Lopp The debate between ossification and continuous development of the Bitcoin protocol is a complex one, with valid arguments on both sides. On one hand, ossification — or making the protocol more stable and unchanging — can provide a sense of security and predictability, which is crucial for a global financial system. It can also prevent unintended consequences or exploits that could arise from frequent changes. On the other hand, continuous development and planning for future soft forks can ensure the protocol stays relevant, adapts to emerging technologies, and addresses any issues that may arise. This approach can also help to improve the user experience, scalability, and overall performance of the network. However, whether to change Bitcoin or not might be a false dichotomy. It's possible that the answer lies in a middle ground, where certain aspects of the protocol are allowed to evolve while others remain stable. Perhaps the focus should be on creating a framework that allows for gradual, carefully considered changes, rather than a binary choice between complete ossification and constant development. Ultimately, the path forward will depend on the priorities and values of the Bitcoin community. Is the goal to create a digital gold standard, prioritizing security and stability above all else, or is it to create a more dynamic, adaptable system that can evolve to meet the needs of its users? By examining these underlying values and priorities, we may be able to find a more nuanced approach that balances the need for stability with the need for innovation and progress. Article “On Ossification” by Jameson Lopp

Cypherpunk Cogitations

On Ossification

An impassioned argument for why we should continue striving to improve the Bitcoin protocol.

Bitcoin and crypto executives speak out on debanking Having a bitcoin treasury can be beneficial for businesses, particularly in cases of debanking, as it provides a financial safety net and flexibility during times of economic uncertainty or systemic instability. By controlling your own keys, you maintain the ability to conduct transactions on the bitcoin network without interference or restriction from external parties. Crypto execs open up about debanking experiences following Trump's US election win https://www.theblock.co/post/328792/crypto-debanking

Solana Web3.js library backdoored to steal secret, private keys

BleepingComputer

Solana Web3.js library backdoored to steal secret, private keys

The legitimate Solana JavaScript SDK was temporarily compromised yesterday in a supply chain attack, with the library backdoored with malicious cod...

“Imagine a sports game where different players are motivated by distinct incentives, defenders aiming to pull the ball outside the field, midfielders prioritizing maximum passes, attackers focused on scoring the most goals, goalkeepers rewarded for saving the most shots, and coaches for the most words shouted from the bench. You can imagine that will not be an optimal team performance when they step on the field, the team winning should be prioritized over any individual player's performance.” — Ivan Makedonski Is it possible for Bitcoin and the Lightning Network to revolutionize industries like construction by aligning incentives and streamlining processes? Ivan Makedonski delves into the potential for instant settlement to upend traditional sectors, paving the way for novel collaborations and innovations. Link to article at Instant Settlement: The Construction Industry by Ivan Makedonski

Bitcoin Magazine

Instant Settlement: The Construction Industry

The first part in an article series by Ivan Makedonski from Breez on how Lightning's instant settlement finality can be a disruptive force fun...

US Officials Urge Americans to Use Encrypted Apps Amid Unprecedented Cyberattack FBI and CISA officials said it was impossible to predict when the telecommunications companies would be fully safe from interlopers.

NBC News

U.S. officials urge Americans to use encrypted apps amid cyberattack that exposed live phone calls

FBI and CISA officials said it was impossible to predict when the telecommunications companies would be fully safe from interlopers.

“Amid an unprecedented cyberattack on telecommunications companies such as AT&T and Verizon, U.S. officials have recommended that Americans use encrypted messaging apps to ensure their communications stay hidden from foreign hackers…”

Ecash mints funded with Spillman channels: The ultimate nodeless Lightning wallet

Gist

non-custodial-ecash.md

GitHub Gist: instantly share code, notes, and snippets.

Critics of eCash protocols have long argued that trusting the minter is a significant vulnerability. This protocol addresses that concern by utilizing a modified Spillman channel, which significantly reduces the custody risk associated with eCash transfers. By providing users with a unilateral exit transaction, they can recover their funds even if the eCash mint becomes insolvent. Conversely, the eCash mint can also retrieve the funds spent by customers through their own unilateral exit transaction. This payment channel concept bears resemblance to Lightning, but with the eCash mint acting as the counterparty. Considering its privacy benefits, this solution appears to tick all the boxes for private, self-custodial, scalable, and instantaneous payments on Bitcoin.

Tando: Bitcoin Adoption In Kenya Discover The latest Bitcoin Platform that allows anyone to easily spend Bitcoin anywhere in Kenya.

Tando: Bitcoin Adoption In Kenya

Discover The latest Bitcoin Platform that allows anyone to easily spend Bitcoin anywhere in Kenya.

Tando, a Kenyan lightning app, is uniquely valuable due to its role as a medium of exchange. By enabling users to connect to the primary payments network in Kenyan Shillings via lightning, it achieves something rare globally - seamless integration of a local currency with the lightning network. With a Bitcoin conference scheduled for December in Kenya, it will be fascinating to observe user experiences, especially among foreign attendees.

A novel layer 2 solution on the Bitcoin network is utilizing the statechains protocol, boasting an exciting integration with Lightning that enables payment of Lightning invoices through third-party facilitators. Its primary draw is the exceptionally low fees. Notably, numerous L2 solutions are seamlessly interacting with Lightning, leveraging innovative integrations to significantly amplify scaling capabilities.

Spark

Spark: Bitcoin's Payment Layer for Stablecoins & Instant BTC

Build wallets, issue stablecoins, and move BTC instantly: all natively on Bitcoin. No bridges, no custodians. Start building with Spark's SDKs today.

Shielded CSV Protocol 🛡️ A revolutionary design for blockchains, compatible with Bitcoin

Bitcoin Magazine

Shielded CSV Protocol 🛡️

A revolutionary design for blockchains, compatible with Bitcoin

This explanation provides a more approachable take on Blockstream's technical paper. The core concept is to shift validation responsibilities from the entire network to only those with a vested interest. However, as noted in the article, a bridge is necessary to make this work without requiring a fork. One possible method for implementing such a bridge is through the use of BitVM.

The article discusses the importance of security on the dark web, a hidden part of the internet that's not indexed by search engines and requires special software to access. It highlights the risks of using the dark web, including the presence of malicious actors and law enforcement surveillance. To mitigate these risks, the article recommends using a virtual private network (VPN), Tor browser, and Pretty Good Privacy (PGP) encryption. Additionally, it advises users to be cautious when accessing dark web marketplaces and to never use their real identity or share personal information. By taking these precautions, users can minimize their exposure to potential threats and maintain their anonymity on the dark web. The fascinating security model of dark web marketplaces

The Fascinating Security Model of Dark Web Marketplaces

Captchas, Monero, Scams and absolutely no JavaScript

“This is also an interesting case study in how Bitcoin resists duplication. You can create something which looks cosmetically similar to Bitcoin, but you cannot replicate the settlement assurances which derive from the costliness of the ledger.” — Nic Carter A masterpiece that clarifies one of Bitcoin's most misconstrued aspects: the value it offers and why it remains unrivaled. This article, 'It's the Settlement Assurances, Stupid' by Nic Carter, will enlighten you on why there's no viable alternative to Bitcoin. Article “It’s the settlement assurances, stupid How to evaluate blockchains” by Nic Carter https://medium.com/@nic__carter/its-the-settlement-assurances-stupid-5dcd1c3f4e41