Adscititious, written by Bajapai (2019) country such as Russia, China and Vietnam have totally banned the use of Bitcoin. We have Stack Exchange questions we’re going to go through. And that’s consensus change, and people working on spec details aren’t going to spend a lot of time lobbying for consensus changes, because they’re understandable. Some of the things you change, most of the features, you will require touching many of the BOLTs, so you cannot just have one working group per BOLT. And even working groups per features, it’s not really enough. But to be honest, everyone’s feeling, I think, was that we’re not a big enough team of people actually working seriously on the specification to be able to split into many working groups. So, since we’re still a very small team, maybe at some point, I hope that we are way too many specification writers, and then we need to split into different working groups. This is moving slowly, and I hope it gets done at some point, but this is going to take time. So right now, we are just going to keep working like we’ve been doing for the past few years, try to make sure that we discuss on IRC a lot more, so that many people can see all of the small nitty-gritty details of how every feature is moving forward.
But the current LN as of today is 100% penalty-based, and it doesn’t seem like it’s going to change much. So, I don’t know if there’s much to talk about there. So, this could sound like, I guess from a priority perspective, I don’t think it’s quite there. Some bitcoin investors think that because of bitcoin’s digital, open, decentralized, and apolitical nature, it has the necessary attributes to become a global reserve currency. Go with it and start accepting payments in this currency. So, everyone is okay with just having all discussions on the IRC channel and we’ll start that and we’ll see how it goes. Mark Erhardt: So, while nobody is taking a turn, both have yielded and then anybody can start again, or… Cybercriminals are taking advantage and recreating cryptocurrency apps that look similar to reputable apps or sound like they may be reputable. In addition, Binance offers an API that allows you to connect your account to any programmed trading bot or application and have them trade on your behalf in automating strategies by automatically responding to signals and events (taking advantage of arbitrage opportunities across exchanges, etc.).
Bastien Teinturier: I think mostly that it’s starting to work fine and we’re starting to have good velocity on the spec process on some of the important features. We’ve been starting to prototype that with the LDK team. And on trampoline, I think that, again, people expressed interest in implementing trampoline, but I’m still waiting to see if this actually catches on, because many people are interested, but it still doesn’t seem to meet the bar for implementation in the short term. Bastien Teinturier: I think Greg implemented that, so… Coinbase secures users’ wallets for them and abstracts private keys and other difficulties away from the user (both individuals and merchants) for an easy, seamless experience that, as Fred puts it, “my mother can use.” By doing so, Coinbase serves a role similar to PayPal, Western Union, or a bank. But apart from that, I wouldn’t expect any major change. So, that wouldn’t really make sense for the BOLT, because most of the BOLTs are actually interconnected. Instead of just multiplying each key with the hash of itself we multiply it with a hash based on itself and all other keys that are being used.
With that idea in mind, the value of bitcoins is highly favored whenever there are few people with the whereabouts of the secret keys. ● Proposed change to schnorr pubkeys: Pieter Wuille started a thread on the Bitcoin-Dev mailing list requesting feedback on a proposal to switch bip-schnorr and bip-taproot to using 32-byte public keys instead of the 33-byte compressed pubkeys previously proposed. On the spec itself, there was a proposal to move to working groups to split the specification into different working groups. Mike Schmidt: The last item from the LN Summit is about The specification process. Sixt said she has followed this process to no avail. So, perhaps a question to Greg and t-bast, how would you summarize this meta-spec process discussion? Greg or t-bast, is there anything that you think the audience would benefit from knowing about those discussions? Bastien Teinturier: Hmm, on the first one, it was just about using threshold signatures, 바이낸스 추천코드 (Click Link) and I think there are cryptographic details to iron out before it becomes a real possibility. Mike Schmidt: There were two other items from the notes that we didn’t cover that I wanted to give either of you an opportunity to comment on. 15759 increases the number of outbound connections the node will make from 8 to 10. The two new connections will only be used to announce and relay new blocks; they won’t announce or relay unconfirmed transactions or addr peer-discovery messages.