No Bullshit Bitcoin
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No bullshit -- bitcoin news, updates, and analysis.

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Call me Ishmael

> This report examines the concept of brainwallets and in which contexts they may be useful. As an experiment eight Bitcoin private keys were created, using passphrases from popular works of fiction and other media. All the funds were swept away in a short amount of time and in one case, remarkably, the funds were taken in around 0.67 seconds. The report concludes by arguing that brainwallets may not be a safe way to store coins, certainly not by using popular phrases in published works.

https://blog.bitmex.com/call-me-ishmael/
archive: https://archive.vn/a220L
RTL v0.9.1-beta released

- UTXOs list [LND]
- Active HTLCs list on the Channels page [LND]
- LOOP v0.9.0 support
- Force channel close support [C-Lightning]

https://github.com/Ride-The-Lightning/RTL/releases/tag/v0.9.1
Spain plans bill to force disclosure of crypto-currency holdings

> The new regulations will form part of a broader package of legislation aimed at cracking down on tax fraud, she said after the weekly cabinet meeting

https://news.trust.org/item/20201013100845-lja6d/
archive: https://archive.vn/6AKg1
Stone Ridge Reveals $115 Million Bitcoin Investment As Part Of Billion-Dollar Spin-Off

> Stone Ridge Holdings Group revealed NYDIG is custodying 10,000 of the parent company’s bitcoin, valued at $115 million at today’s price.

https://www.forbes.com/sites/michaeldelcastillo/2020/10/13/stone-ridge-reveals-115-million-bitcoin-investment-as-part-of-billion-dollar-spin-off/
archive: https://archive.vn/UWSkO
Marathon Patent Group Announces Joint Venture with Beowulf Energy for 105-Megawatt Bitcoin Mining Data Center

> Marathon will deploy the 11,500 next generation S19 Pro Antminers (110 TH/s) it previously acquired through its partnership with Bitmain Inc. at the Data Center. These miners will generate 1.265 EH/s when fully deployed, with full deployment anticipated through Q2 2021. Currently, 500 of the S19 Pro Antminers have been delivered and deployed at the Data Center. The Data Center has the capacity to deploy up to 30,000 S19 Pro Miners that will generate 3.320 EH/s, providing Marathon with substantial opportunity for future expansion.

> The Data Center will lower Marathon’s aggregate mining cost for electricity and data center management to $0.034/kWh, which is 38% below the Company’s current cost of mining. This low-cost electricity reduces Marathon’s breakeven costs to produce Bitcoin from approximately $7,500 per Bitcoin today to $4,600 per Bitcoin...

https://www.globenewswire.com/news-release/2020/10/13/2107538/0/en/Marathon-Patent-Group-Announces-Joint-Venture-with-Beowulf-Energy-for-105-Megawatt-Bitcoin-Mining-Data-Center.html
archive: https://archive.vn/iTht6
Eclair v0.4.2 released

- keysend
- anchor outputs
- better plugin support
- bug fixes

https://github.com/ACINQ/eclair/releases/tag/v0.4.2
DLC Private Key Management Part 1

> Discreet Log Contracts enable non-custodial speculation directly on top of the bitcoin blockchain. When protocols are non-custodial, it’s important for users to understand how private keys are handled in the protocol. With DLCs, there is the potential for millions of dollars to be sent to the winner. This blog post takes a rigorous look at the private keys involved in a Discreet Log Contract.

https://suredbits.com/dlc-private-key-management-part-1/
archive: https://archive.vn/nFnFA
WORDS Bitcoin Journal September 2020

- Once Inflation Starts, It Won’t Be Contained
- Bitcoin as a Tool for Secession
- Different bitcoins different prices
- Tweet Thread: What is an xpub?
- Bitcoin is One for All
- The Patoshi Mining Machine
- Tweet Thread: PUELL’S 21 LAWS OF BITCOIN
- Map of the Bitcoin Network
- MPPs & Wumbo Channels: Optimizing Liquidity on the Lightning Network
- The Alchemy of Hashpower, Part II.
- Tweet Thread on the Lightning Network User Experience
- Bitcoin In The Institutional Investment Portfolio
- Things Bitcoiners Don’t Want To Hear
- Tweet Thread: Chad Money
- Why we may fail Lightning

https://bitcoinwords.github.io/cy20m9
archive: https://archive.vn/uG29b

PDF [10k sats]: https://paywall.link/to/2020m9
ePUB [10k sats]: https://paywall.link/to/2020m9epub
bitcoin-alternative-investment.pdf
4 MB
Fidelity - Bitcoin Investment Thesis: Bitcoin's Role As An Alternative Investment

> In the second part of our "Bitcoin Investment Thesis" series...we examine bitcoin's ability to provide optimization benefits in a portfolio.

https://www.fidelitydigitalassets.com/articles/bitcoin-as-alternative-investment
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Fidelity Crypto Privacy Conference 2020: Why Financial Privacy Matters for Human Rights

> Alex Gladstein | Chief Strategy Officer, Human Rights Foundation

youtube: https://youtu.be/p4MkxK3CrA8
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Fidelity Crypto Privacy Conference 2020: Blockchain Surveillance

> Jonathan Levin | Co-Founder & Chief Strategy Officer, Chainalysis

youtube: https://youtu.be/qh0EuckN5o4
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Fidelity Crypto Privacy Conference 2020: Optimizing Bitcoin: Schnorr/Taproot

> Andrew Poelstra | Director of Research, Blockstream

youtube: https://youtu.be/ejYB167Ol-Y
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Fidelity Crypto Privacy Conference 2020: Privacy In Cryptocurrencies Panel

> Moderator:

Sam Abbassi | Director, Blockchain Products | Fidelity Center for Applied Technology

> Panelists:

Matt Odell | Bitcoin & Privacy Advocate

Riccardo Spagni | Co-Founder, Tari Labs and maintainer of the Monero project

Tom Robinson | Co-Founder & Chief Scientist, Elliptic

youtube: https://youtu.be/ycWl6DHr87w
JoinMarket v0.7.1 released

- BIP78 (Payjoin) receiver
- Transaction broadcast via peers
- Bug fixes

https://github.com/JoinMarket-Org/joinmarket-clientserver/releases/tag/v0.7.1
Bitcoin Optech #119

- LND security warning
- LN upfront payments discussion
- taproot bech32 addresses thread
- proposal for alternate way to secure LN payments
- signet PR Review Club

https://bitcoinops.org/en/newsletters/2020/10/14/
archive: https://archive.vn/mAoNc
Introducing Trezor Suite Public Beta

- New desktop and web wallet that will eventually replace existing Trezor web wallet

https://blog.trezor.io/introducing-trezor-suite-public-beta-7c5949aeef45
archive: https://archive.vn/S0ehO
Unchained Capital adds Coldcard support

> One of the principal benefits of Coldcard is its air-gapped functionality, which is why our integration with Coldcard only supports air-gapped signing.

https://unchained-capital.com/blog/now-coldcard/
archive: https://archive.vn/mMrgQ
MuSig2-Simple Two-Round Schnorr Multi-Signatures.pdf
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MuSig2: Simple Two-Round Schnorr Multi-Signatures

> we propose MuSig2, a novel and simple two-round multi-signature scheme variant of the MuSig scheme. Our scheme is the first multi-signature scheme that simultaneously i) is secure under concurrent signing sessions, ii) supports key aggregation, iii) outputs ordinary Schnorr signatures, iv) needs only two communication rounds, and v) has similar signer complexity as regular Schnorr signatures. Furthermore, our scheme is the first multi-signature scheme in the DL setting that supports preprocessing of all but one rounds, effectively enabling a non-interactive signing process, without forgoing security under concurrent sessions.

https://eprint.iacr.org/2020/1261
archive: https://archive.vn/myGNK
Schnorr and Taproot Upgrade Proposal Merged Into Bitcoin Core

> The implementation of the Schnorr/Taproot consensus rules has been merged into Bitcoin Core. However, the upgrade's activation method has yet to be determined.

https://www.btctimes.com/news/schnorr-taproot-upgrade-merged-into-bitcoin-core
archive: https://archive.vn/Muzax
20 Arrests In QQAAZZ Multi-million Money Laundering Case

>  The funds were then transferred to other QQAAZZ-controlled bank accounts and sometimes converted to cryptocurrency using ‘tumbling’ services designed to hide the original source of the funds.  After taking a fee of up to 50-percent, QQAAZZ returned the balance of the stolen funds to their cybercriminal clientele.  

https://www.europol.europa.eu/newsroom/news/20-arrests-in-qqaazz-multi-million-money-laundering-case
archive: https://archive.vn/ISUHF
lnresearch datasets

> Data about the past and current structure of the Lightning Network.

> The datasets consist of historical gossip messages that can be used to reconstruct the (public) network topology at any point in time.

https://github.com/lnresearch/topology