Bitcoin Optech Newsletter #175

This week’s newsletter briefly describes two discussions on the Bitcoin-Dev mailing list, one about Bitcoin vaults and one about reducing the size of public keys used in taproot. 6810 begins using receiving payments to taproot outputs in almost all of the wallet’s automatically-generated output scripts. And it seemed to me that that was the most likely explanation, because in an output script, when we define a native segwit output, what we do is we put a version byte, and then we put a witness program, which, of course, there are three defined of. There’s the P2WSH program, which is preceded by a v0 and then a 32-byte witness program. But there’s also this technique that Christian Decker mentioned in his answer to this question on the Stack Exchange, which is route boost, which means that I can also provide some sort of hints about channels that I’m aware of that have adequate capacity for the payment that I wish to receive. I thought this was sort of a comprehensive treatise of the topic, so glad that we have it on our site. The first one, at first I thought this was kind of a funny question, but I actually got a lot of interest on the Stack Exchange, which is, “How can I manually, on paper, calculate a Bitcoin public key from a private key?

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. We want to make sure that we use IRC more for day-to-day communication, and to make sure that because right now, communication has been scattered across different smaller groups who are implementing different features. I’ve never liked ‘mixers’ like CoinJoin or CashShuffle, because they don’t match the way I want to use my ‘spending’ money. You send like an app, like a message, and then you can also yield your turn, so send a yield message. For example, Alice receives some bitcoins to a particular address; she then spends those bitcoins to Bob using the new sighash flag. For example, the normal working temperature of a WhatsMiner is about 60 – 85°C. If the miner’s temperature exceeds 85°C, you can improve ventilation and lower the miner’s temperature by installing a water curtain, air conditioner, fan, or other cooling equipment. And then async payments and trampoline, this is a longer-term effort, because it requires a lot of things that we’re working on but are not complete yet, before we can actually really do async payments.

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. You can redeem your BTokens back to the original asset at any time. If the price of a perpetual futures contract is higher than the spot price of the underlying asset at the time of a Funding Round, longs pay Funding Fees to shorts. The firm also offers options, which follows the Binance Futures BTCUSDT perpetual contract asset. Binance is sidestepping these security issues with the launch of its Decentralized Exchange (DEX). Binance does not support fiat currencies, so you can’t convert dollars, yen, pounds, euros, etc. on the exchange. The easiest way to do this is with Bitcoin or Ethereum, as there are other exchanges that allow you to buy them easily with fiat money. Bastien Teinturier: Hmm, on the first one, it was just about using threshold signatures, and I think there are cryptographic details to iron out before it becomes a real possibility. Bastien Teinturier: Yeah, I think I discussed that recently with Christian and I don’t remember exactly why, but he was annoyed because this actually didn’t work. Yeah, this actually didn’t work because some senders did not prioritize the channels that were in the route hint.

And in a way, blinded path makes that easier, because with blinded path, blinded path is a way to doing some route boost without actually telling people about the channels. Mike Schmidt: Next question from the Stack Exchange is, “How do route hints affect pathfinding? So yeah, I do think route boost is more of an interesting historical thing that was tried, but it didn’t really yield any meaningful result in practice, I believe. Greg or t-bast, is there anything that you think the audience would benefit from knowing about those discussions? Greg Sanders: Okay, so in case people are wondering, yeah, so the LN-Symmetry implementation is what I consider complete from a de-risking perspective. So, perhaps a question to Greg and t-bast, how would you summarize this meta-spec process discussion? Murch, I’m sure you dug through that and you have thoughts on his answer and the question generally? You would just include them in your blinded path, people don’t even have to know what channel this is, but you kind of force them to go to a direction where you know that there is liquidity.

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