Kevin Loaec 🧙♂️🐟
@KLoaec
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@wizardsardine CEO 🪄🐟. ⬛🟨 ex Breaking Bitcoin and BoB. @btcazores @revaultdev @lianabitcoin
Azores, Portugal
Joined March 2013
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Introducing Liana, by
@Wizardsardine
. A new type of Bitcoin wallet built around Miniscript: it feels like any wallet BUT it has a big difference: you have a recovery path after you stop moving funds for a while. What does this mean, practically?
-> backups
-> inheritance
1/n
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Reminder: Samson Mow didn't introduce anything to the Bitcoin codebase. He makes hats.
Reminder: Matt Corallo introduced an inflation bug into the
#Bitcoin
codebase that could have killed Bitcoin.
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I don't care about Microstrategy. I don't care about ETFs. I don't care about US regulations on electricity.
FFS we are talking about censorship resistant money or whatever random regulated stock???
I need better accounts to follow, too much bullshit on my feed right now.
Help🥺
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14 years.
When I started working on Bitcoin it felt like it was taking over the world, large companies were accepting it one after the other (Expedia, Microsoft, Steam...).
Right after that the craze around shitcoins and ICO scams started.
1/3
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The best way to fix the inscription spam is to use Bitcoin.
They aren't stealing blockspace, you are just not willing to pay for it. They value their spam more than you value your transactions.
If the actual problem you have is high fees, what do you want, price controls? 😂
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Ethereum is such a joke. They are going to "delay" the difficulty bomb AGAIN (originally scheduled in 2017 if i'm not wrong?) because, well, probably the people in charge of planning are making too much money with mining 🤡
Changing the economic incentives every other day like 🧚♀️
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Some always tried to change the course, to make it faster, cheaper, "innovative". It survived and is stronger than ever.
Still a lot to do tho, and still excited to focus all my time on it.
Happy birthday Bitcoin whitepaper ❤️,
and thank you to everyone part of this journey 😘
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A quick thread on the LND drama, because there is quite a lot to cover.
First of all, I don't even run a LN node because I consider the LN state of the art to be weak security. So I'm not taking sides with LND or anything here.
So, someone sent a transaction to break things. 1/n
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This is what state of the art, applied Bitcoin engineering looks like.
Taproot+musig+miniscript, reducing costs, drastically improving privacy, all while completely invisible to the user.
I genuinely think
@acinq_co
is one of, if not THE most impressive team in Bitcoin.
(*) Swaproot is a new swap-in protocol that leverages powerful new features added to Bitcoin and Lightning in the last few years: Taproot, MuSig2, Miniscript descriptors.
For the technically inclined, we have explained all about Swaproot in a blog post:
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Bitcoin managed to keep a hard focus on what's important: a system that works no matter what. Not cheap. Not fast. This is what gives Bitcoin its value, the commitment to not break things, and (slowly) improve.
Huge thanks to the people who managed to keep it on its track.
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Passing security at an airport, i have a
@bitcoincoreorg
hoodie under a jacket. Removing the jacket, the security guy notices "oh Bitcoin! Cool!"
What a long way we have made.
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Fuck communism.
Fuck Maduro.
Days like this are what motivate me to work on Bitcoin, not presidential candidate speaking at a conf bullshit.
My heart with the people of Venezuela starving because of fucking commies.
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People talking about forking Bitcoin because of this nft thing: what is wrong with you. Bitcoin isn't a thing you fork because you don't like what people do with it. Any fork is dangerous for users, and take insane coordination.
Don't want to pay for fees? Don't use Bitcoin.
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Fun fact: I noticed the Bitcoin block reward diminished. After some investigation i realised it was the halving😱
So here is a pull request to put it back to 50.
#muchdecentralized
Fun fact: 4 weeks ago I noticed an uptick in Ethereum’s block times. After some investigation I realized it was the difficulty bomb🥶
I created an EIP to push it 4mn blocks. The plan is to have a fork at block 9.2mn (early Jan) called Mountain Glacier🏔
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So the Eth foundation has a 100M/year budget. How much do open source grants and other private funding of open source Bitcoin dev (Chaincode, Blockstream...) spend per year on Bitcoin? 10-20M top I'd say?
Wtf do they even do with 100M?
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Aaaand one more dead hardware signer.
RIP.
The screen is on, but unreadable. Today it's a Ledger, but this happens to all of them. Always have a backup.
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A few people have been talking about a Portuguese citadel, especially since the minister of economy announced "deregulating" a few industries.
Also Portugal is cool.
Should we seriously try to move forward on this? Any Portuguese willing and capable of doing the lobby work?
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Finally happening: Portugal is taxing bitcoin.
28% capital gain tax first year, 0% afterwards (but you'll need to prove it so good luck with that).
I guess we can try to lobby that a UTXO not moving for a year is enough, instead of only accepting KYCd casinos...
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Today someone took 10 min to explain me that Bitcoin was an app built on top of blockchain technology, and that he knew what he was talking about because he is a developer. Also he told me about Binance being the future or something. AMA
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More like: Ethereum has no need for a blockchain, it works perfectly well on AWS
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To whoever is behind this, please sign proof of the funds existing, and release a PGP key for applicants.
"The anonymous organisation Unknown Fund has announced that it intends to invest and donate $75 million in
#bitcoin
to startups which directly or indirectly support the idea of anonymity." 👀
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So here we go, Bob is live <3 Following on
@breakingbitcoin
of last year, we are super thrilled to announce
@build_on_btc
.
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I actually thought we would enter a 2014-2015 bear equivalent. But everyone is excited and building like crazy, morale is high even with all the people who started in the last 2 years and are at (significant) loss.
Anyone actually feeling down/afraid?
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It's in French, but so far my best and most important talk on Bitcoin. TLDR: we are fucked if we keep living in unicorn land.
[REPLAY N°8] Réseau anti-fragile par nature,
#Bitcoin
est né et s'est développé dans un environnement hostile.
@KLoaec
explore pourquoi et comment défendre
#Bitcoin
contre des d'attaques étatiques.
👉Le replay
#SurfinBitcoin22
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I don't get all the new hate for
@nic__carter
, he and
@CastleIslandVC
have always been investing in "crypto", not Bitcoin only. Did you guys just trust, not verify? 🥲
Weird.
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Thanks to Taproot, Liana can look like any basic wallet on chain. This transaction looks like (and pays fees like) a singlesig, but it's a Liana wallet.
For now it only works with Ledger, but Coldcard will follow very soon.
A huge step to pay lower fees and have better privacy!
Privacy has many layers in Bitcoin. Wallet fingerprinting is one of them.
Since Liana V5, your wallet can look like a regular single sig, while having invisible recovery paths protecting you.
I just made this transaction, looks like a single sig but...
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Tons of trash takes about Ledger following the bug disclosure yesterday. Miniscript is a huge improvement for the safety of bitcoin wallets, and Ledger is the only company who cared implementing it so far. They deserve PRAISE for it, bugs are part of any development process.
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This is the worst case situation, with regards to storing data. Op_return and even inscriptions are nothing in comparison to the harm done by faking keys. This bloats the utxo set forever.
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When I saw the grifters invited to speak at
@TheBitcoinConf
I felt bad. At the event, the amount of ordinals (aka ex web3/nft) shills made me cringe.
Then the open source stage opened. 🤯 Shitcoiners in disbelief
🏴☠️ Pirate Livestream
🏴 No bracelet check
👨💻 Hackers tables
1/2
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Thread on what hardware signers are for, as it seems people are getting confused. They don't make your Bitcoin "safe".
Your day to day phone, or laptop, can't be considered secure to store money. Still, that's what we use when we pay someone, or receive funds.
1/8
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Been away for a few days so I'm not sure wtf it's happening with RBF.
Anything that's not confirmed (=in a block) doesn't exist from Bitcoin perspective. The blockchain is the source of truth.
Obviously anything not in the blockchain can be replaced. RBF cannot be avoided.
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I have been to many Bitcoin conferences.
@BitcoinAtlantis
was unique in the sense that it was very much a family event, kids everywhere, wives and husbands genuinely interested in understanding what this is all about.
Felt way more down to Earth than any other event I've been to.
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You were a big ETH fan 3 years ago. PoS was coming out in "less that 6 months". Sharding soon too. But you fell into a coma, just waking up today. Excited, you check how much you staked during all those years, Bitcoin must be dead by now.
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Just realized that exchanges are a dying breed. They are the "webportal", the Yahoo/MSN of Bitcoin. What happens to then when people earn bitcoin? Use bitcoin? Pay taxes in bitcoin? Exchanges need fiat and shitcoins to be relevant, how long until this is gone? 10-20 years?
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This is obviously an open source software, in its infancy, and will see regular (monthly?) updates.
More info on our CTO blog post:
5/5, that's it for now I'll come back later for more tweets :)
Follow
@Wizardsardine
!
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Ultimately what happens is that the organization will disclose the vuln, credit you for your service, and you get internet points and A LOT of respect from colleagues and the industry in general.
But today
@ajtowns
got rugpulled of this, and it sucks. He did the work. Kudos AJ ❤️
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I've been exchanging messages with so many core Bitcoin people in the past 4 days, I'm super excited :D So yeah as you can guess, we are putting together a big (Bitcoin only) conference. It's called Bob.
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Best conference I have attended so far. I'll definitely be back, Chaos never ends.
Thanks to the organisers and volunteers, awesome experience.
#hcpp21
@Paralelni_polis
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Some people are gonna complain "wow 1% wtf" but developing an entire LN implementation isn't cheap.
Something that "just works" is probably worth the money. Stripe is much more than 2.5% if you account for all the extras.
@acinq_co
is a role model for open source engineering.
@callebtc
Thanks!
The effective receive fee is close to 1%, compared to 1.5-2.5 % on stripe (fiat) , 1% on opennode (btc), both custodial payment processors.
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Wanna enter Bitcoin history? I'll send you 2 pizzas if you send me 10000 BTC. You'll also be famous forever.
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Alright installing Specter, connecting Coldcard, getting wallet running took 3 min altogether. This thing is neat.
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Finally received my Liana Green ™️
@COLDCARDwallet
(Ok it's just a normal green, wen Liana green
@nvk
)
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Not sure why people talk about miniscript as something in the future. It's here, now.
Sure hardware signer compatibility is not great yet, but get a SpecterDIY or a Ledger and you are good to go.
Liana v0.2, with multisig + timelocks is usable today. 1/2
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For everyone who missed my talk at
@TheBitcoinConf
, here is the important part.
Bitcoin Vault: a Bitcoin staged transaction process allowing to prevent the movement of funds.
(Also used for: a UTXO protected by such a process.)
== A MULTISIG IS NOT A VAULT
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@niftynei
@heavilyarmedc
He got caught, but now is just the beginning of finding out what else he backdoored in all those years.
It might go very deep, as he seems to be a very good engineer (or group of).
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Full IBD+index with Bitcoin Core 0.19.0.1, on a mid-range, recent computer (Ryzen 3600, 16gb ram, NVMe SSD)
7 hours 18 minutes.
assumevalid=0
daemon=1
dbcache=8000
txindex=1
checkpoints=0
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Super glad to be a sponsor of the open source stage, an event within the event (or as many say: the real main stage).
300 seats, the stage was ABSOLUTELY PACKED with people standing all around. Great vibe, people talking hardcore tech. Queuing to see demos.
See you at day 2 ❤️
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Inheritance continued: with Liana, you can safely share your recovery key with your family or attorney: they can't touch the funds before you stop using your wallet for the predefined time. As long as you are around, they just can't touch it!
4/n
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Dear followers:
- please run a fully validating Bitcoin node (Full or Pruned)
- make sure it's not a version affected by CVE-2018-17144, preferably 0.16.3 or the current 0.17.0
If you don't do this, you are not a bitcoiner, sorry to break the news.
It's not hard, and it's cheap.
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I don't like politicians, but this is history.
El Salvador has just bought it’s first 200 coins.
Our brokers will be buying a lot more as the deadline approaches.
#BitcoinDay
#BTC
🇸🇻
2K
6K
32K
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Miami and Prague: done. Both were extremely good, Miami had the open source stage, Prague had the expo area.
@BtcPrague
had so many of the right people. Incredible work on getting everyone onboard. Felt so much more like Bitcoin events in 2017 than the now common influencer crowd
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Wen
@CasaHODL
, wen
@nunchuk_io
, wen
@bitcoinKeeper_
, wen
@unchainedcom
, wen
@BitGo
, wen
@AnchorWatch
as Safety Net providers?
All I need is xpubs 🥹
Introducing: SAFETY NET. The ultimate protection against loss.
CEO is super proud of doing this weird corporate intro about our all new SAFETY NET marketplace <3
Get these BTCs safe, even if you lose everything. But don't trust anyone if you don't.
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ELI5 why hardware wallets all have their own app. Can't you guys just have a standard-ish API and contribute to existing open-source wallets?
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I must say the
@AnchorWatch
miniscript t-shirt is very cool. Also it's sunny on the island, see you all in 2 weeks for
@btcazores
:)
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To be fair, we are all trolling but ETH was PoA all along as they were hardforking regularly. The PoW was just a smokescreen, PoS is a better fit to control what chain is the "real" one when you fork every other month.
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Congrats on Taproot going live :) Specifically to everyone who architected, built and reviewed it, you people are awesome.
Taproot is going to bring so many new things to Bitcoin, most we still can't even imagine today. New tools to the Bitcoin architect workbench 🧡
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In the bitcoin world, it's now trendy to complain about the TX fee for a $4 coffee, but not realizing the actual rip off is the $4 coffee.
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1/ Ok, so we haven't talked about it publicly yet, but we are helping to organize a big security event about Bitcoin, in Paris in September.
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If you needed Vaults so bad, you would already use some.
Sure, UX without covenants is a massive pain, but if it's enough to deter 100% of people and companies, maybe it's not that "needed" after all.
Don't get me wrong, as a builder on later 1, I absolutely want covenants. 1/5
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10 years already. The next decade will be as bumpy as the previous one, can't wait for the drama, the ragequits but also the inevitable end of "money" as we know it today. Happy bday Bitcoin paper, and thank you Satoshi for changing my life.
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Cleaning up the apartment, and found one of these beauties. One of my favorite Bitcoin stickers ❤️
Well done
@bitcoinbrink
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PSA: Wizardsardine is known for the Revault and Liana open source software, but we also do security work for other Bitcoin open source protocols and companies.
If you need security stuff, we can help 😗
You can pay in Bitcoin.
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So far,
@build_on_btc
has attendees from:
Australia
Austria
Belgium
Canada
Estonia
France
Germany
Hungary
Israel
Italy
Liechtenstein
Malta
Netherlands
Norway
Portugal
Romania
Russia
Singapore
Slovakia
Spain
Sweden
Switzerland
Turkey
UK
USA
...and more :D
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TIL: In Ethereum you are supposed to assume good faith.
What could go wrong?
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In just over 2 weeks ™️, you will be able to use Liana without running a Core node on your machine. Either:
- Electrum support
- (hosted) Wizardsardine node
Obviously running a Bitcoin Core node is still the way I'd recommend, if you have the time and storage space.
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Yesterday I was on a podcast, I was asked about Ledger. I said I liked the hardware very much, and their focus on side-channel mitigation is quite unique, but the software was bad.
Today, i realize "bad" truly was an understatement. Security 101 not in place, in security software
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I don't like failing, but we couldn't reach 50% capacity just 2 months before the event, so let's cut the losses.
See you in 2025 🥲
Hello everyone, we are canceling BTCAzores for 2024, we didn't manage to get enough people signed up to make it as good as the previous years.
We will obviously refund the tickets to all attendees.
We hope we can host the event again next year.
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If you have the chance to visit Portugal one day, and eat meat/carbs, you HAVE to try the Francesinha
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You will soon be able to import your Liana descriptors into Core directly!
Took a while to get that one merged 😊
Merged PR from achow101: descriptors Be able to specify change and receiving in a single descriptor string
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@_jonasschnelli_
If you are a libertarian or anarchist, you let people do their life choices. If someone wants to kill themselves with sugar, good for them, and i'm not paying for their healthcare.
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Work in progress:
- some of us are working on finding inland zones
- I am making progress on a zone in the Azores
Shit is actually moving fast, and a lot of bitcoiners reached out <3
A few people have been talking about a Portuguese citadel, especially since the minister of economy announced "deregulating" a few industries.
Also Portugal is cool.
Should we seriously try to move forward on this? Any Portuguese willing and capable of doing the lobby work?
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We have been looking into hosting a technical Bitcoin conference for a while, where Revault is headquartered.
It's on an island in the middle of the Atlantic, so flights are a bit expensive but accommodations are on the affordable side. And it's an awesome 🌋 place, part of 🇵🇹🇪🇺
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It's all wrapped up already! See you next year at
@breakingbitcoin
or in 2 years at
@build_on_btc
!
Thank you so much <3
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Not an OG but definitely thrilled to be speaking about Revault and how to enable the next bull run 😶
New speaker announcement!
We are happy to have
@KLoaec
speak at
#Bitcoin2021
in
#Miami
!
Loaec is the CEO & Co-founder of Revault, a
#Bitcoin
maximalist and OG, and Organizer of the Breaking Bitcoin conference!
😎🌴
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Going to do a talk about better multisig and cosigners (hsm) models tomorrow at
@BTCPrague
, with just a sprinkle of Liana on top (but it's not about Liana I promise).
If your company owns some BTC, you'll probably learn a few tricks to safekeep your stack better.
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On CTV and drama:
"Covenants" are restrictions on how some funds can move. It doesn't exist on Bitcoin today, we have secrets and time locks. Covenants are very useful for security applications, as you can add an extra layer of security on top of just owning the private keys. 👇
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not trolling here: afaik Ethereum was supposed to be that, wasn't it? Does this mean Ethereum 1 is a failure? If so, i would like an apology of everyone calling me a "troll" when i was whistleblowing. Otherwise please enlighten me.
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Better backups: right now, if you keep your backup in clear text anybody finding it would be able to empty your wallet.
With Liana, not before the time lock expires. Mix this with temper evident bags and regular checks, you have a pretty safe and simple backup.
2/n
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