moneyball

https://spiralbtc.substack.com/p/merchants-dont-read-white-papers https://blossom.primal.net/68135327886afddbb5db24da5b56225d16a377f59f5d7020c47cf1617b801879.png

2025-11-10 02:44:26 UTC

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We had a premonition

2025-10-23 21:50:39 UTC

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How are you imagining a phone mint serving other mint users?

2025-10-23 16:39:19 UTC

https://bitkey.build/chain-code-delegation-improving-privacy-in-collaborative-multisig/

2025-09-09 18:15:08 UTC

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Good question! I believe Taproot Assets would result in more revenue for LN nodes because 100% of payments would go over the LN whereas with Spark intra-Spark (entity) payments will not go over the LN. This assumes similar level of volume for both TA and Spark.

2025-09-08 18:10:06 UTC

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Agreed! We created this project to be timeless and also a living project in which anyone can contribute to it to improve it. https://bitcoin-cap.github.io/bcap/

2025-08-19 16:49:15 UTC

A seemingly novel proposal called Bitcoin Deposits by @nprofile…ynyp
... would love to see folks take a look and provide feedback https://delvingbitcoin.org/t/proposal-bitcoin-deposits-a-zero-utxo-trust-minimized-lightning-wallet/1922

2025-08-17 12:07:17 UTC

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Where do I buy

2025-08-12 22:37:50 UTC

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🤙

2025-07-22 20:10:04 UTC

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₿

2025-05-29 17:08:12 UTC

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Even if you exclude Cash App customers the yield # is very strong

2025-05-19 13:48:33 UTC

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Bitcoin is already a ubiquitous, great brand. Don't lose it to rebuild another one?

2025-05-19 04:20:21 UTC

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Organic is the only way

2025-05-19 04:19:40 UTC

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Are any of these subunits 8 orders of magnitude different?

2025-05-17 17:28:27 UTC

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I've heard people in the past express concern over using Satoshi's name in a way he never intended.
@nprofile…cvw0

2025-05-17 13:17:33 UTC

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I just don't want to see the elimination of bitcoin

2025-05-17 12:24:41 UTC

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Hide the Lightning
nevent1qqsrck6pvkm8xhxdxhlrmse0kvptweaqlpmvr85cwqh8ncx2fsypwdqpupmhxue69uhhyetvv9ujuerpd46hxtnfduhj2v3swaehxw309aex2mrp0yhxumm5daeks6fwwa5kute9xgc8wumn8ghj7mn0wvhxcmmv9ujnyvrhwden5te0wfjkccte9eekjctdwd68ytnrdakj7ffjxpmhxue69uhhyetvv9ujuvrcvd5xzapwvdhk6te9xgc8wumn8ghj7mnxwfjkccte9eshqup0y5erqamnwvaz7tmjv4kxz7tjwvhxumm5daeks6fwwa5kute9xgc8wumn8ghj7un9d3shjtnwv4u8getj0ghxxmmd9ujnyvrhwden5te0vejkuunfwgkhxtnwda6x7umgdyh8w6twvspeck

2025-05-17 06:19:16 UTC

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I'm not even a designer!

2025-05-17 03:20:41 UTC

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There's only a 100x difference between a dollar and a penny. They're often used together like $4.99. Not the case with bitcoin and sats which have a 100,000,000x difference.
The direction we are headed is the elimination of the term bitcoin. Let's avoid that fate while we are still in the early stages of bitcoin as everyday money.

2025-05-17 00:08:55 UTC

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Hundreds of millions of people own bitcoin and billions have heard of it.
No more than hundreds of thousands of people have ever heard of sats.
We're extremely early with bitcoin as everyday money.

2025-05-17 00:07:37 UTC

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Only if there's a consensus change to make the basic unit in the code even more divisible?

2025-05-16 23:02:18 UTC

I don't hear anyone discussing a future in which bitcoin as money and NFTs on the blockchain are both extremely popular, what the economics look like for each of them if they're competing with each other. Listen in as we discussed today on PBJ https://youtu.be/ogQ2z9lBHC8?si=-dd8XCc6AMWHusdY&t=2340

2025-05-16 17:49:53 UTC

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Here's the journey to realizing this:
1. Initially sound preposterous, confusing, and a non-starter
2. Then you get the concept and why it is best, but seems insurmountable at this point
3. Then you start to see how it could actually happen
4. Then you become an advocate

2025-05-16 17:46:29 UTC

Drop the sats. Just bitcoin. It's cleaner.

2025-05-10 21:40:32 UTC

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Use it is the critical part: you gotta receive bitcoin with it to gain the value of running the node. We need to see far stronger growth of p2p money and merchant adoption.

2025-05-10 21:38:26 UTC

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Could be cool. Do you think there would be a wide variety of hardware applications that could be done in a relatively short amount of time at relatively minimal cost?

2025-05-09 12:53:43 UTC

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🙄

2025-05-03 02:11:04 UTC

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No doubt it was a great crowd

2025-05-03 02:10:17 UTC

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Love Parker!

2025-05-02 23:58:24 UTC

If you want to understand this week's bitcoin drama but don't want to wade through a bunch of craziness on social media or spend hours researching all the nuances, I suggest you listen to the segment starting at the 10min mark from today's PBJ https://www.youtube.com/watch?v=xYbakpGY9Ys

2025-05-02 16:01:58 UTC

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Can you help me understand why a new market would develop? Why would this new market not follow the path we've seen others already do such as (a) use inscriptions (b) use services to mine non-standard transactions or (c) use/abuse bitcoin in other ways as brc-20 did?

2025-05-02 15:56:06 UTC

easter egg hunt 👀 https://bitcoin.org

2025-04-11 20:49:57 UTC

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Listen to PBJ?

2025-03-28 23:16:31 UTC

things are cookin’ at Presidio Bitcoin

2025-03-20 16:38:46 UTC

The Payjoin project just posted their vision and roadmap including multiparty batch transactions in v3, an ambitious project Spiral's Yuval Kogman has been working on.
Spiral grantee @nprofile…6kkx has been super focused and making tremendous progress on Payjoin for several years now. He's been able to attract many other developers to the project, including merging Yuval's project into Payjoin, which is a fantastic outcome.
I find Payjoin to be one of the most pragmatic and promising privacy improvements for bitcoin. We're going to see strong adoption of it in the coming years.
https://payjoindevkit.org/2025/03/18/the-evolution-of-payjoin/

2025-03-09 21:31:39 UTC

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https://bitkey.build/processing-our-processor-choice/

2025-03-08 20:15:01 UTC

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How about Goose?

2025-02-14 00:38:36 UTC

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We need to launch soon and gain a social media presence 😀

2025-02-10 17:04:59 UTC

What will be the initial AI payment use cases that will need bitcoin payments? (as opposed to, say, stablecoin payments)?

2025-01-13 19:30:09 UTC

https://www.youtube.com/watch?v=z_uVr-PfKsg

2025-01-06 20:40:33 UTC

https://delvingbitcoin.org/t/challenge-covenants-for-braidpool/1370

2024-12-27 01:54:24 UTC

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If that’s important to you and you’ve spent the time to educate yourself on properly handling that information then great!

2024-12-27 00:35:39 UTC

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Bitkey is a multi-sig setup. I think you mean a DIY multi-sig setup; but Bitkey is for customers who want the benefits of multi-sig without the hassle and risk of DIY.

2024-12-27 00:24:23 UTC

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You are likely comfortable handling private key material directly (safeguarding seed phrases), but I suspect most of your friends and family lack the time or interest to properly research and study how to do this. So for them Bitkey is a safer solution than exchanges or self custody wallets with footguns.

2024-12-27 00:21:55 UTC

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Are you familiar with the Emergency Access Kit and how it works? It allows a Bitkey customer to transfer their funds to another wallet in the event Block's server and app are no longer available.

2024-12-24 15:21:35 UTC

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Use advanced data protection

2024-12-23 23:51:52 UTC

My advice to anyone choosing to self custody bitcoin is to only move a small portion of your stack into a new (to you) configuration or a new product. No need to rush into it. Start early but get comfortable over time before moving larger portions of your stack.

2024-12-23 23:27:52 UTC

If you are giving Bitkey as a gift to friends and family members, be sure to have them setup a Trusted Contact to protect them in case they happen to lose both their phone and hardware device.

2024-12-23 02:53:20 UTC

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That's roughly right but the trusted contact has a key to decrypt the mobile key. They don't have direct access to the mobile key. See more details here https://bitkey.build/sharing-our-recovery-design/

2024-12-15 22:09:01 UTC

Spiral Wizards pragmatic proposal to address long term QC threat in the near term. Feedback welcome. https://groups.google.com/g/bitcoindev/c/8O857bRSVV8/m/4cM-7pf4AgAJ

2024-12-11 17:50:55 UTC

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Stablecoins aren't really shitcoins. They're not premined.
Also it turns out there is a customer need to pay for things in dollars.

2024-12-11 09:16:50 UTC

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Care to elaborate?

2024-12-11 04:30:21 UTC

https://chainfail.substack.com/p/swap-it-like-its-hot

2024-12-09 19:13:48 UTC

https://finance.yahoo.com/news/crypto-comes-roaring-back-khosla-123000446.html

2024-12-03 18:16:54 UTC

bitcoin + FOSS = ₿OSS

2024-11-17 00:16:09 UTC

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Well Strike only supports send because it is using LNDK which only supports send currently. Hopefully someone adds receive to LNDK or LND itself supports it next year.

2024-11-16 15:35:24 UTC

https://stephanlivera.com/episode/616/
@npub1r8l…x5dk @npub1a2c…w83a

2024-11-15 23:29:30 UTC

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Even without LND there are 18! And LND users such as Strike are supporting it through the LNDK project.

2024-11-15 23:28:35 UTC

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Most yes

2024-11-15 22:20:31 UTC

Do I count EIGHTEEN adopters of BOLT 12 now including Phoenix, Ocean, Strike, Zeus, and Boltz?
https://bolt12.org

2024-11-11 17:02:40 UTC

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"Bitcoin is incredibly difficult to change by design and consensus is achieved not through hierarchical governance, but through a complex interplay of actions and reactions among stakeholders."

2024-11-08 04:15:36 UTC

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Do you have a suggestion for an alternative name?

2024-11-08 03:14:45 UTC

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Thank you for letting me know. I’ll look into it!

2024-11-08 02:31:53 UTC

Bitcoin is very hard to change, a property that is critical to it having any value at all. But, what exactly prevents it from being changed? Bitcoin is also bigger than ever, so how do improvements get made?
Announcing the open source bitcoin consensus analysis project (BCAP).
Earlier this year, @avichal and I discussed the potential for such a project, and over the past few months, I have been working with @0xren_cf and @LynAldenContact to go from concept to a solid starting point, which can now be found at the link below
https://github.com/bitcoin-cap/bcap
Bitcoin consensus is simply a set of rules codified in software. However, what maintains that consensus and what allows that consensus to change is extremely complex. What roles do each of us play in this consensus? What motivations and powers do each of us have?
This project identifies 6 stakeholder groups that play a role in bitcoin consensus including each group's motivation and powers. It also analyzes how each group’s power shifts over the lifecycle of potential change. https://github.com/bitcoin-cap/bcap#stakeholders
Ultimately, investors have the most power, but their power is often exercised late in the lifecycle of change when bitcoin might be on the brink during a contentious fork. Ideally, we avoid winding up in such a fragile state, so the project explores this dynamic.
The Bitcoin Core project is just one implementation of the bitcoin protocol, but it wields tremendous power given it is the software run by a near-majority of the bitcoin network. It has earned this position by prioritizing security and being conservative on protocol changes.
Historically, changes to bitcoin consensus have been proposed by Bitcoin Core developers and have all been merged into the Bitcoin Core project. Recently, there has been a shift to non-Core developers proposing changes. It is unclear whether this impacts Core prioritizing these.
Often people claim that Bitcoin Core has too much power as a few devs can “change bitcoin.” While this is clearly untrue, the opposite is true in that there is veto-like power to prevent changes.
Thus, alternative consensus clients are an important option. However, they are for extreme situations as it would be very difficult to gain widespread adoption. Low adoption can lead to a fragile network.
The project explores one such scenario in which a change is (partially) activated with miner hash rate but low adoption from nodes. This can lead to a sizable bounty forming tempting miners to create a chain split, and leaving bitcoin in a state of chaos. (let’s avoid this)
If a trading market develops between fork A and fork B, investors determine the value, but it turns out not all investors are equal. Self-custody individual investors have advantages over corporate and institutional investor segments.
There are many other future scenarios, and we’d love to see the project evolve to analyze these as it is intended to be a community project that serves bitcoin well into the future. The project is off to a great start with 2 dozen reviewers spanning all 6 stakeholder groups.
If anyone sees ways to improve this project please file an issue https://github.com/bitcoin-cap/bcap/issues, open a PR https://github.com/bitcoin-cap/bcap/pulls, or begin a discussion https://github.com/bitcoin-cap/bcap/discussions.
There is a PDF version in case that is easier to read or to share with others. https://github.com/bitcoin-cap/bcap/blob/main/bcap_v1.0.pdf

2024-10-24 21:38:07 UTC

https://m.primal.net/LhCR.jpg

2024-10-21 22:09:08 UTC

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Which L2 solution and why shouldn’t it be trusted?

2024-10-03 14:26:22 UTC

https://bitkey.build/welcoming-robinhood-to-the-bitkey-ecosystem

2024-09-23 01:11:58 UTC

ライトニングサミット

2024-09-16 20:25:59 UTC

https://delvingbitcoin.org/t/superscalar-laddered-timeout-tree-structured-decker-wattenhofer-factories/1143

2024-09-11 05:28:13 UTC

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https://primal.net/e/note1znm98a3zpawrsqeg0lf25d9mwutqxq679sp8swlasufdz2ll2acsszr4wc

2024-09-01 13:11:50 UTC

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If you see any concerns be sure to share

2024-08-31 19:40:35 UTC

Lava's loans protocol is perhaps the most sophisticated and novel use of bitcoin script and DLC tech I've seen before. This 10 page paper does a nice job of introducing it. https://github.com/lava-xyz/loans-paper/blob/main/loans_v2.pdf

2024-08-31 14:05:35 UTC

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If you install the mobile app then you'll be able to receive bitcoin from zaps

2024-08-29 13:16:00 UTC

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https://shop.braiins.com/products/building-bitcoin-in-rust
#note10gy…rc70

2024-08-20 23:01:23 UTC

running reads

2024-08-15 19:40:47 UTC

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There needs to be substance for it to endure

2024-08-09 05:13:51 UTC

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Phoenix, Bitkit, Alby, Zeus…

2024-08-07 17:31:34 UTC

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I'd suggest subscribing to our newsletter https://spiral.xyz/blog/spiral-quarterly-update-h1-2024/

2024-07-30 01:53:49 UTC

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Of course! They're free for anyone to use.

2024-07-17 21:39:24 UTC

What questions would folks like me to ask?
https://m.primal.net/JUUi.png

2024-07-06 15:35:20 UTC

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@npub13zr…lmne can speak to his experiences using it

2024-07-06 15:34:41 UTC

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For reference https://github.com/lndk-org/lndk

2024-06-15 01:42:41 UTC

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@npub1a00…9q3h

2024-06-06 22:53:15 UTC

https://m.primal.net/IbNw.png

2024-06-04 21:47:17 UTC

5 reasons miners benefit from Stratum v2:
1. Authentication and encryption. Don't let your hash rate be stolen. Even if you aren't concerned about this, your auditors and investors likely will be.
2. Less bandwidth-intensive protocol (binary vs. JSON); reduce stale shares and works better in poor internet situations
3. Ensure your pool isn't inserting transactions and not sharing out-of-band fee payments. It is becoming more topical with the increase in usage of transaction accelerators and non-standard transaction inclusion. Eliminate the requirement to have to monitor your pool.
4. Ensure you're selecting the transactions that provide the maximum fees. Don't leave it to others who may censor certain high fee transactions. Eliminate the requirement to have to monitor your pool.
5. Take charge of the bitcoin software you run and consensus rules. Don't leave it to others to determine whether or not to signal for support of a particular change or to take the risk of falling out of consensus. Eliminate the requirement to have to monitor your pool.

2024-06-04 02:31:49 UTC

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https://github.com/bitcoin/bips/pull/1551

2024-06-03 20:01:11 UTC

BIP 353

2024-06-03 03:51:22 UTC

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Agree. Thoughts on how to make choosing a mint seamless for users ideally making it a default for them?

2024-05-29 19:45:01 UTC

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Oh, well I don't think the point that LN has found product market fit as the open payment protocol has been discussed hardly at all, so I wanted to start the conversation. The fact LN is enabling nostr zaps is super cool but not in and of itself a demonstration of it being the open payment protocol. It is the emergence of Fedimint and Cashu e-cash systems that largely demonstrate that LN is becoming that as well as Ark and statechains support for LN as OPP.

2024-05-28 18:24:39 UTC

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I sense from your responses that your hope is LN will offer near-zero fees while also being non-custodial with an economically viable unilateral exit. I understand it was sold this way by some folks but it isn't reality. LN's fees are a function of on-chain fees, which are going to be volatile and will continue to increase over time.
There are efforts to try and share UTXOs with more people which would allow for amortizing these costs over more people. This is awesome R&D, and I hope to see more of it. But so far, I've yet to see a design that doesn't result in some other tradeoff, such as a vastly more expensive unilateral exit or some other trust assumption.
I'm also not sure if you're understanding the point I'm trying to make. I'm saying LN has already succeeded at product market fit, but for something other than what you're imagining. I'm not saying it offers no/low fee non-custodial payments, but I am instead saying it is THE open payment protocol, connecting not only non-custodial LN wallets and custodial LN wallets but also wallets that use entirely different designs such as Fedimint, Cashu, Ark, and statechains. All of these different solutions already support LN as the open payment protocol. There's evidence that indicates LN solves that problem. Hence, product-market fit.
As for bitcoin as p2p currency, you're free to move on, but I'm going to continue working toward that as a north star. Each and every year we'll inch closer toward that, but we also shouldn't shy away from practical, useful products and designs that work today and are moving toward that north star.

2024-05-28 13:50:31 UTC

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Any user of, for example, Phoenix, Mutiny, Cash App, Coinbase, a Cashu wallet, Fedi, etc. can seamlessly pay each other and not even understand each of those represents very different tradeoffs and have completely different designs. What they have in common is using bitcoin as money and LN as the open payment protocol.
If you don't like paying 0.4% fees for a non-custodial mobile LN wallet, then you have the option of using a custodial or e-cash wallet to avoid the fees along with the associated tradeoffs.
Yes, we'd all love a wallet design that supports 8B people, has no fees, is as censorship-resistant and security as on-chain bitcoin, but that doesn't exist today.