prochronist / prochronist is on Nostr

marcom @ blockstream

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2024-03-04 19:32:47

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Coin control is only available on the desktop version of Green atm

2023-12-15 13:36:45

For the average pleb using a software wallet, your sats flow and time horizons should be as follows:
Lightning <> Liquid -> Bitcoin
days -> months -> years
Stack smart, hodl Liquid in the mid-term and occasionally swap to Lightning for daily use, then to mainchain when fees are low for long-term savings.

2023-12-10 08:08:29

The issue with Argentina abolishing its central bank is that they have plans to dollarize, so they are merely trading their own for one controlled by bureaucrats in DC, in which they’ll have far less agency with and control over. Situation is even more dire given their outstanding debts (some of the worst in the world) to the IMF and the like.
I understand dollarization (something El Salvador also did in the 2000s) is a somewhat necessary step to lower inflation and have price stability in the short term, but on the one hand, skipping dollarization and going right to bitcoinization would be the true “anti central banker” visionary move...and have the potential to free Argentina of the shackles of its international creditors much quicker.
Of course, another probably more politically viable option would be to follow Bukele's playbook of playing just nice enough with the IMF and other creditors while buying #bitcoin...with the same end goal in my mind.
Let's wait and see what role bitcoin will play, if any. The jury is still out in my opinion but they do have a historic opportunity to show the world the potential of bitcoin.

2023-12-08 04:09:48

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https://blog.blockstream.com/increasing-interoperability-between-bitcoins-second-layer-protocols/

2023-11-09 23:05:58

Payment failure is a major flaw in all account-based networks, such as Tron, Ethereum, and other alts. The sad irony is that this impacts the demographic most likely to use crypto rails to begin with—those in emerging markets suffering from currency debasement and hyperinflation. Fortunately, there is a better alternative on #Bitcoin. 🧵
Estimates of Ethereum's payment failure rate range, but there was a consistent rate of over 1 million transactions per month during peak periods. A quick search on reddit will garner hundreds of threads like the one below of users losing money due to failures.
https://www.reddit.com/r/ethereum/comments/qq5iin/failed_transactions_costing_250_is_not_fine/
Even Vitalik himself cites a ~2.3% failure rate. Note, we shouldn't fault those flocking to Tron or Ethereum with strong stablecoin network effects (there is clear use case) but, instead, encourage awareness of the downsides and the better alternatives that exist on #Bitcoin.
With what looks like the early beginnings of a bull market, users in places like LATAM, particularly in Argentina, where stablecoin usage is surging, should expect a similar spike in transaction failures and consider more architecturally sound chains like the Liquid Network.
In contrast to #Ethereum or Tron's account model, the Liquid Network, a Bitcoin layer-2, opts for Bitcoin's UTXO model. This enables an "all-or-nothing" transaction, avoiding the possibility of losing funds when sending a payment.
Liquid's fees are competitive with the aforementioned account-based models and stay reliably low. There is also the added feature of confidentiality (no one can see asset type or amount).
https://blog.liquid.net/guide-to-confidential-transactions/
Our CPO Jeff Booetz, recently detailed the tradeoffs between the UTXO and account models in an op-ed. The latter's lack of transaction reliability is only one example of the many downsides: it's also much harder to scale, less secure, and less private. Highly recommended:
https://www.forbes.com/sites/digital-assets/2023/11/07/why-bitcoin-may-offer-the-best-foundation-for-blockchain-based-finance/?sh=453db2457ba2

2023-10-10 16:00:19

Last week, we announced a partnership with Swan regarding their new collaborative custody solution that features @npub1jg5…6n8n Jade. For those unfamiliar with Jade, I've compiled an (incomplete) list of what makes it so unique and such a compelling piece of hardware 🧵
https://image.nostr.build/85d5da5a68fc4d17adc587cf66b8584b53f49cacc3d18fcba1f00599616ac488.jpg
Entirely open source
Jade uses fully open-source hardware, software and infrastructure that is reproducible for greater security and peace of mind. This level of transparency is unmatched in the hardware wallet industry. Don't trust, verify.
https://github.com/Blockstream/Jade
Affordable
Because Jade uses commodity hardware, it's one of the most affordable options on the market. You can purchase two (even three) Jades and create your own multisig setup for the price of just one of the competitors —all without giving up quality or security.
https://image.nostr.build/ed3ba903a8f6c293ec79c977e3ae690c1cf665aed3c44d6e13a92eb938e0833e.jpg
Versatile
Jade is simple to use with great support (@npub15r8…mk4g) for easy onboarding, but has features like QR Scan, BIP 85, and a duress pin for more advanced users. Jade is also multi-platform and widely compatible, with no one dedicated companion app.
https://image.nostr.build/6dc78985bb6367b6f343774053cebe61539c9886b0fdc7c6cbaffac24a116e85.png
Fully air-gapped
Jade's built-in camera lets you scan and display QR codes, making it possible to send bitcoin and verify addresses without directly connecting to the internet with USB or Bluetooth—providing an extra layer of security.
https://youtu.be/Cvm0zUCvfMo?si=E79gYJ1RdJH7dh_F
Immune to physical key extraction
Jade deploys a virtual secure element comprising three separate secrets: a Jade secret (via an encrypted blob on the device), a user-generated unique pin, and a remote blind oracle, making extraction from the device alone impossible.
https://help.blockstream.com/hc/en-us/articles/12800132096793-Set-up-a-personal-blind-oracle
You can run your own blind oracle with cmd line (see link). The team is also placing the final touches on a new app for several plug-in-play solutions that would make setting up a personal blind oracle much easier.
https://help.blockstream.com/hc/en-us/articles/12800132096793-Set-up-a-personal-blind-oracle
DIY-able
Jade's FOSS software and unique security model allow you to install its firmware (without loss of functionality) on inexpensive, off-the-shelf hardware. [@YTCryptoGuide](https://twitter.com/YTCryptoGuide) has several video tutorials for building your own DIY Jade for $10-$40.
https://youtu.be/PeqP6oVnlIs?si=JEXFB5Jj6uMd5ZyU
Made for hyperbitcoinization
Jade's price, versatility, and DIY-ability make it an ideal choice for people in developing countries or those affected by currency debasement. It can be argued they need Bitcoin the most and, subsequently, a secure way to cold store, which Jade provides.
Cypherpunk tool
Due to its affordability, many pick up an extra Jade to use it solely as a more secure, private 2FA authentication device or to do fun things, like mine bitcoin. Because Jade can produce TOTPs for platforms that require 2FA, it can function similarly to an authenticator app, giving users more control over their personal data and providing better security than a regular authenticator.
https://help.blockstream.com/hc/en-us/articles/20182747993625-Use-Jade-as-a-2FA-authentication-device
Jade can also be set up as a #bitcoin miner, offering a fun way to learn the ins and outs. It does not require a wallet to be set up or accessed and can easily be reversed if you decide to go back to using it purely as a hardware wallet.
https://twitter.com/tatumturnup/status/1642510780984709121
I hope this thread provides a useful snapshot of Jade's unique security model and features and why you may want to snag one.
....it also now comes in orange. 😎
[https://store.blockstream.com/product/blockstream-jade-hardware-wallet/
https://image.nostr.build/f1f64dc69f59c2d03ef137fcd70165519525fd4f8b511233f2fd5a574bbbcca6.jpg

2023-10-04 05:05:30

Cool tidbit: other than SeedSigner, @npub1jg5…6n8n Jade is the only fully open-source Bitcoin hardware wallet that is impervious to physical key extraction.
You must collect three separate secrets to decrypt your keys: one is in the encrypted blob on the device, the second is the user-generated pin you set, and the third is only accessible via the blind oracle (that you can also run yourself).
Only with all three secrets, can you then get and decrypt the private key. So, by not having a secure element directly on the device, but rather this unique security model of three decentralized secrets, physical key extraction is not possible.
Bonus tidbit: the Jade is 50%-75% cheaper than any of the other Bitcoin hardware wallet on the market, meaning you can buy two or three of them (or even build a DIY ver for $15) for the cost of the others, allowing you to create your own multisig.
Jade definitely doesn’t get the attention it deserves! #note19xa…r5p0

2023-07-27 00:44:28

The new Lightning-capable #BlockstreamGreen works flawlessly (even in beta), receiving sats from Wallet of Satoshi and then zapping a friend on #Nostr.
#Bitcoin, Liquid, and Lightning in one, non-custodial, privacy-focused wallet. Open beta coming soon!
Green's Lightning integration works via Blockstream's Greenlight under the hood, which does most of the heavy lifting, while the Breez SDK acts as a facade and LSP service.
Don't miss out on other upcoming experimental features by signing up for Green's beta program:
https://help.blockstream.com/hc/en-us/articles/14884124911385?ref=blog.blockstream.com https://nostr.build/av/e792916caba2e3a3e9b57e511e484ab784fdc2cb81a1e1e3a6b3644c78d1f8a3.mov

2023-05-29 13:57:45

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1) censorship: selective action like the ability to censor a certain UTXO on Liquid is mathematically impossible because you can't even identify outputs due to confidential transactions (which blind asset and asset type). They would need to know the UTXOs beforehand and even then you wouldn’t lose coins, it would just fail and you’d try again with a diff UTXO.
2) state: Liquid is resilient because the federation members (who custody the BTC multisig) are in multiple jurisdictions across the world and run physical HSMs, you literally have to go in-person to commandeer them and turn off. There’s also the Dynamic Federations upgrade last year which allows the Federation to add/remove entities to be able to peg-out (without them having to run functionaries/have HSMs), so in the event of a real globally coordinated state attack, there would be more options to peg out.
Hope this helps.

2023-05-26 18:18:48

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Adding a step by step checklist on screen (perhaps even as a pop up) would do the trick, so the user could follow along during the process.
- Transaction received
- Swapping
- L-BTC / LN-BTC sent to wallet
- Received
- Swap complete!
Something along those lines…