No energy is spent for a single Bitcoin transaction. The utility of Bitcoin’s Proof-of-Work is to secure an entire economic history. PoW is global and cumulative. PoW acts as a homogeneous field creating a potential well securing the Bitcoin economy.
Confession: I don't know if Ethereum is a scam or what its supply is but I know one thing,; "It doesn't matter" isn't the answer that I'm expecting from people proposing to build the future of finance.
@ketominer
@krakenfx
Send them a GDPR request. They'll have to provide all information related to your account (including the "scoring" resulting from their chain analysis tool). That may give you a hint about why the account was closed.
A thread about this statement made in Samourai's indictment, from the perspective of a person who has extensively studied the design of zerolink implementations and who has also analyzed the on-chain activity of some crypto money launderers.
On the bright side, an unexpected benefit of all these ordinals transactions transferring BRC-20 tokens and jpegs is that they act like payjoin transactions and they are certainly ruining a part of the clustering done by a few Chain Analytics platforms.
PoS is a far superior consensus mechanism.
This is why Ethereum's supply is evenly split to:
- 33% to Joe Lubin
- 33% to Barry Silbert
- 33% to Vitalik Buterin
- 33% to a dead guy named Lazarus
For example, this entity () is a wallet controlled by Coinbase. To date, it owns around 203 BTC split in 1,464,545 utxos !
With BTC at $15.8k, it means $3.2M with an average utxo value of 2.2$.
#DustInTheChain
Today is really a sad day for crypto. The consequences of this verdict are profound. It's pure madness to use the results of blockchain analyses as primary evidences. Especially on UTXO-based systems. It's a recipe for more judicial disasters. 😔
How long before the FBI realize that Twitter/X is an unregistered MSB unlawfully combining multiple features to execute anonymous financial transactions? 🤔
Considering that Wasabi is still up while having processed far more than $100M of money stolen by Lazarus, I have a hard time believing that money laundering is the main concern that has motivated the arrest of
@SamouraiWallet
and
@SamouraiDev
...
Soon, Chainalysis will support Lightning Network transaction monitoring in KYT! Staying compliant with regulations will be vital as the second layer protocol is adopted and we’re excited to be the first in the industry to offer this support.
More here:
I've published an article on Forbes revealing this person's identity:
I also unveil their identity on today's episode of
@Unchained_pod
, which also features an interview by
@Steven_Ehrlich
of
@ForbesCrypto
with me about the findings:
I was wondering what web3 is. Thus, I've checked . The first page I've browsed (Alchemy API doc) is literally dedicated to why, as a developer, I shouldn't run my own fullnode. 😬
To summarize:
- In this case, no error was made by the user. Only mixed outputs were consolidated in small numbers (good practice),
- Chainalysis has exploited a known issue of the mixer,
- No "advanced tool" was needed to find these results.
The Tether Dilemma: Being concerned with USDT printed out of thin air or being concerned with USDT backed by real USD which were printed out of thin air. 🤔
@SamouraiDev
And in less than 1 hour, OXT will clusterize the adresses associated to the 2 inputs marking them as controlled by a same entity. Boohoo.
@SamouraiDev
has broken OXT (and all others blockchain analytics platforms relying on the merged inputs heuristic). 😉
#GoodJob
People using the past tense to speak about
@SamouraiWallet
&
@SamouraiDev
less than 24h after their arrest tells you everything you need to know about this ecosystem.
Note that it's likely that Coinbase isn't the only Bitcoin service having this problem. But of course, none of them will acknowledge that. Better put the blame on protocol developers, trolls, dragons or whatever.
Nothing is more funny than long tweetstorms telling you how you should use Bitcoin ("It's a payment system", "No, it's a Store of Value").
The only thing you need to know is this: Never let anybody tell you how or why you should use Bitcoin.
For years I've said that privacy on Bitcoin is really bad but truth be told, privacy on Ethereum is a whole different level, like somewhere between "apocalyptically bad" and the "zero kelvin of privacy". 😬
Block hashes are the ouija of blockchain tech. Did you know that "00000000000000000021e8" is "AAAAAAAAAAAAIcOo" in Base64 ?
It seems obvious that Satoshi is trying to tell us something about the ICO craze.
#ThePlotThickens
#SatoshisPendulum
The dirty little secret of tech people who like to share their concerns about Bitcoin energy consumption: 7% of global electricity is consumed by the IT sector.
#ConcernTrolls
Truth be told, there's more beauty in the patterns resulting from Bitcoin transactions than in most NFTs "inscribed" during the last few days.
#WizardsMustDoBetter
5/ So, nobody subject to OFAC's jurisdiction is permitted to engage in any transaction with the persons on the list or associated with the two addresses on the list.
Prediction: Soon, the number of bitcoin on-chain transactions is going to decrease. Doom Prophets are going to tell you that bitcoin is dying, that Core has killed bitcoin, etc
Nope. It's just Liquid being launched 🚀😎
Privacy isn’t about anonymity. Anonymity is a means to an end. Privacy is about you being in control. You making your own choices according to your very specific situation. Not someone else. Not a black-box AI. YOU.
After self-hosting my email for twenty-three years I have thrown in the towel 😩
Email is now an oligopoly, a service gatekept by a few big companies which does not follow the principles of net neutrality.
<rant mode>
It's seriously time that the academic community working on public blockchains and cryptocurrencies starts a reflection about its actual production.
Someone should develop krc20 (the "Knots BRC-20" protocol), a protocol implementing BRC-20 over op_return outputs with 20 bytes of data.
Everybody would then realize that the size of data stored in blocks by BRC-20 isn't important. Financial incentives are what matters.
30 years ago: "Don't use PGP/strong cryptography or you'll look suspicious."
Today: "Don't use Coinjoin/privacy coins or you'll look suspicious."
#BlackSheep
If you feel concerned by the abuse of Bitcoin resources, don't get distracted by Ordinals JPEGs.
Massive spam with non-standard P2WSH outputs is where the action is right now and it's going exponential.
Hi
@Ziya_Sadr
. Do you have a Paynym? Since LN payment channels seem to have a problem with Iran, let's start a
#PaynymTorch
based on BIP47 payment tunnels.
@hrdng
In conclusion, let's stop with the false narrative of protocols devs being the root of all evil. Everybody has a responsibility. Doing nothing is a choice.
@zndtoshi
@SamouraiDev
Sure. This transaction looks like a normal spend by a user but is actually a transaction made by 2 users (each user contributes an input) with one user paying the other. It basically breaks the main heuristic used by all blockchain analytics platforms (like OXT)
I must be stupid, I fail to see how LN users getting rid of theirs full nodes is an improvement for Bitcoin. LN won't thrive without a strong L1 layer.
Privacy isn't about anonymity. Privacy isn't something that you have. Privacy isn't a state. Privacy is something that you enforce every day. Privacy is a process allowing you to selectively disclose things that are sensitive to you.
Tip: You can safely ignore the opinion of anyone telling you that
@SamouraiWallet
&
@SamouraiDev
had poor opsec because they have been identified. These people have literally no idea what they're talking about.
The Bitcoin "paradox"
The primary use case of bitcoins is buying space in Bitcoin blocks. Bitcoins used as money in the physical world is just a consequence of people valuing this primary use case.
Bitcoin isn't fiat money. Bitcoin is a commodity money.
I'm rereading the "Virtual Assets Red Flag Indicators of Money Laundering and Terrorist Financing" authored by the FATF. This stuff is definitely something else.
TL/DR: A PoS system needs a governance model establishing the legitimacy of the majority. PoW doesn't. A PoS system is intrinsically an institution. PoW aims to provide a space of interaction.
#TwoVeryDifferentThings
It's common knowledge that the co-spent heuristic has been originally proposed by Satoshi Nakamoto in the Bitcoin White Paper. Is Chainalysis flat-out lying in an official declaration to the court or do they suggest that Sarah Mieklejohn is the creator of Bitcoin? 🤔
#BitcoinFog
I'm thrilled to announce that I'm officially launching LSV, a fork of Libra.
No need to say that Libra Zuckerberg's Vision is the real Libra.
Pull Requests are welcome!
It seems that the second tweet of my recent thread about Wasabi & Chainalysis has been shadow banned. 🙄Anyway, here's a screenshot of the tweet. The transaction sending 50BTC to the mixer is aa8d7407f88dca9b1779880c3d2e3245e02217f7366972d617f812c8dd73a96a
@hrdng
If needed, let me state it again: I'm not a Coinbase "hater". Far from that.
But here's the thing: the current bitcoin economy is very centralized around a few services and their processes have a huge impact on the whole network. This is a fact.
When you realize that
@SamouraiWallet
's Whirlpool is basically yield farming for Bitcoin Privacy with users staking bitcoins being paid interests in increased anonymity.
#SushiPrivacyMatters
PSA: I don't know who is the person concerned by this at the DoJ but for the record: OXT servers seized yesterday by the DoJ store Work Product and access to these data by the government could jeopardize an ongoing civil & criminal case.
@hrdng
As shown by this academic paper, exchanges have become a major source of transactions during the last years. Their (in)actions impact all of us.
"And Satoshi said, “Let there be 80 bytes op_return outputs” and there was 80 bytes op_return outputs. Satoshi saw that 80 bytes op_return outputs were good, and he separated 80 bytes op_return outputs from the UTXOSet." - The Book of Bitcoin Genesis