As it is, his refusal to allow the other side even a few words in self defense makes the book seem a Bitcoin childish. The discussion is, how far should we go? The rest seems okay to me, actually, as far as complexity is concerned. So I think that’s, to me, the biggest red flag. I’d say, to me, I have some experience working. And even with that one, I think we’ve ironed out almost all the details, and I think both LND and LDK have a first version, a first prototype that is working almost end-to-end. And we’ve always gone back and forth between those, because we don’t know if we should do a simpler version first and wait for later to do a much more complex version, or if we should just jump to the more complex version right now. I’m not sure what the consensus is right now.
Bastien Teinturier: Sure. So right now, when we announced the channel on the network, we explicitly announced node IDs and the Bitcoin keys that are inside the multisig 2-of-2, and people verified that the output that we are referencing is actually locked with the script hash of multisig 2-of-2 of those two keys, so you can only use it with scripts that really follow the format of Lightning channels without taproot. Bastien Teinturier: Yeah, that’s actually the hard part. Greg Sanders: Yeah, I just had one point. Greg Sanders: Yeah, if I can jump in. Can the channel stay open when the UTXO gets spent? And on the other hand, how do you make sure that the same UTXO is not reused for the announcement; and what happens if that UTXO gets spent? That’s why we’re not doing that right now, and that’s why most people will just keep announcing the output that really corresponds to the channel so that when it gets spent, people actually notice it and can remove it from that graph and know that they cannot route through that channel anymore.
If you have another Lightning-like channel specification that you coded up or a custom channel type, you can also include that in this channel announcement and it will just work. Because we’ve always been discussing the fact that announcing, having the channel announcement point to a specific onchain output, was quite bad for privacy and that we could probably do better. So, those are things that we’ve always been just hand-wavy about how we would do that in the future. With generous support from Wences Casares, John Pfeffer and Chaincode Labs, we’ve spent the last few months meeting engineers and managers from across the ecosystem; started producing weekly newsletters for Bitcoin engineers highlighting ways that they could use the blockchain more effectively; and organized our first workshop in San Francisco, bringing together engineers from exchanges, custodians and wallet companies utilizing the Bitcoin blockchain to discuss efficient use of the blockchain and ways to engage with the open source community. Needless to say finding out reliable and the best Bitcoin companies has become essential and at the same time top Bitcoin companies that are coming up at various parts of the world should be verified.
We had a great podcast out in the Chaincode podcast, youtu.be where we talked to Elle Mouton and Oliver Gugger about simple taproot channels, which basically is this proposal. So, you can point out any output that has sufficient funds to have basically funded that channel; I assume that means enough or more. This text is sometimes added so that LN wallets can register for it as URI handlers. Ideally, marketplaces and payment processors like BitPay would integrate multisig technology directly into their payment platform, and Bitcoin multisig wallets would include an easy interface for finalizing transactions; if done correctly, the experience can be exactly as seamless as Bitpay or Paypal are today. The exchange has made it known that over 90% of the assets are at any given time stored in cold storage, with less than 10% in hot wallets. But when it comes to what we’re trying to do at Vox, there are a couple of big issues with relying on ads and subscriptions to keep the lights on. There are Atlas VPN apps for Windows, macOS, Android, and iOS as well. So, I think we are not going to do that in the short term.