pull down to refresh

9349 sats \ 3 replies \ @anon 3 Aug freebie \ on: Do you support open source projects? Music

Thanks @blockstream_official for sharing the link to the Blockstream Quarterly Q2-Q3 report.

Was a good read.
It was especially interesting to see how far along Jade has come.
Jade appears to be one of the better open-source hardware wallets in the market.

I like Liquid. I've used it in the past.

Here are some questions or observations that i was hoping @blockstream_official would be able to answer.

Liquid has about 67 members in its federation comprising of major exchanges, Bitcoin infrastructure companies, digital asset managers, wallet providers and other Bitcoin-focused companies.

Of these 67 members, 15 operate signers that run custom-built hardware security modules (HSMs) and specialized software to produce blocks and manage the pegged bitcoin in an 11-of-15 multi-signature wallet.

  • Are these 15 signer members rotated amongst the 67 members?
  • What is the rotation period?
  • What is the process of selecting these signer members?
  • How do you prevent signer members from the same parent company or VC funded bias from colluding together to harm the Liquid federation?
  • How are conflicts resolved amongst Liquid federation members?
  • Are Liquid federation memberships accepted from US sanctioned countries like Venezuela, Syria, Iran, Cuba and Russia?

In addition to the 11-of-15 multi-signature wallet, the Liquid federation’s wallet implements an Emergency Withdrawal Procedure (EWP) by using a 4,032 block (28 days) timelock after which a 2-of-3 multi-signature wallet is able to spend from federation wallet.

  • Which Liquid federation members are part of this 2-of-3 multi-signature wallet?
  • What is the process of selecting these members for the 2-of-3 multi-signature wallet?
  • Are these members rotated amongst the Liquid federation 67 members?
  • How do you prevent members from the 2-of-3 multi-signature wallet from the same parent company or VC funded bias from colluding together to harm the Liquid federation?

Blockstream rebranded C-Lightning to Core Lightning (CLN). This was a good move.

  • Are there plans for Blockstream to rebrand Liquid (L-BTC) to remove BTC from the token name to help reduce confusion between Liquid and Lightning?

In addition to the above, Liquid Network has emergency backup keys held solely by Blockstream.

  • What prevents Blockstream, or a rogue employee, or pressure from a despot government regime from harming the Liquid federation?
  • How do we know for certain that a government does not already have access to a copy these Emergency Backup Keys?

FYI, I’m a fan of Liquid. I acknowledge Bitcoin layer-2 is hard to pull off and tradeoffs must exist. I am simply after some extra transparency on above questions while the network continues to grow, liquidity increases and before the next bull-run arrives. Thank you.

https://imgprxy.stacker.news/nSlaoxMBFRPHKX9T6lYH-AA2QkP97brfqWXQX_3UT68/rs:fit:600:500:0/g:no/aHR0cHM6Ly9ibG9nLmxpcXVpZC5uZXQvY29udGVudC9pbWFnZXMvc2l6ZS93MTAwMC8yMDIyLzEwL2xpcXVpZDEwLjJAM3gucG5n
A snapshot of the Liquid ecosystem in 2022.

188.8k sats \ 0 replies \ @KatherineBondAJK 4 Aug freebie

That the saying "time is money" (often incorrectly attributed to Benjamin Franklin) has all but lost its original meaning from around 1719 and that bitcoin will fix this - amongst other things...

reply
207.3k sats \ 1 reply \ @DanHanson3LP 3 Aug freebie

I had the most amazing meal in our teammate's (Fi3) family owned restaurant in Florence last year, it was the first time some of us met in person.

I didn't order anything ,FI3 just keept ordering food until I passed out, here's one photo.

https://m.stacker.news/22402

Photo of me under the table available on request.

reply
215.2k sats \ 0 replies \ @RonaldNewmanQ5E 4 Aug freebie

Very interesting article. This stood out: ‘Decentralization is a worthy goal, but in practice it seems that most Argentinians don’t care that much about it, at least not in the way purists talk about it. They’re more worried about whether the government can get their hands on their money; as long as the answer is “no,” they don’t seem to care much about who else has control over it.’

Bitcoin maxi’s should learn this lesson - people don’t really care about the philosophy, they just want the utility. Blind adherence to an ideology always turns off a bunch of people, and decreases the rate of adoption because many people are inherently skeptical of aggressive sales strategies. They feel like there is a gotcha.

reply