MidwayCrypto

Monday 13 February 2023

What is a Trend?

A trend is a direction that you can decifer in a chart at the stage, when you zoom out, where you can see INFORMATION in the chart just by looking at it.

Different people see information in different charts at different resolution depending on their level of knowledge and connectedness.

For instance. If you look at an NSD100 you can see history depicted in the chart .com bubble, recessions pandemic, at that stage most people can see the trend.

If you are an oil trader or someone who follows say bitcoin very closely then you have more granular knowledge of the environment and can see other events materialise on the charts at closer resolution you can see the trend.

@hughhendry podcast "the Master of all bear markets"

Follow me on Etoro https://etoro.tw/3I4qtYu

Friday 10 February 2023

Ordinals, You and Satoshi Inscriptions

Bitcoin has always been able to do smart contracts dummies. Now we are just doing them more NFT's are going crazy and some how more artistically tastefully, in a introspective reflective way.

You can learn about it on this great podcast, very in right now. https://fountain.fm/show/W8pjfavWchv8diXjikgC

You can also check it out the website here https://ordinals.com/

Etherium maxis and bored apes must be flipping in their digital yacht club right now, especially with the smart contract stuff coming up, simplicity and RGB on lightning etc. Rocks are selling for more on the everlasting blockchain.

The Dark Knowledge Of The Lightning Dev

To become a truly powerful lightning developer there are cirtain things you must know. Even worse you must know how to do these things and to test them out. The public use of these skills could hurt, maybe even destroy the lightning networks great potential, if it is found to be fragile and humans to be untrustworthy. Sounds like something from a sci fi movie but it might be true.

On a recent battle with the terminal I have been trying to recover a lightning node which I ran on using some rare beta software and which I hastily thought i could simply recover with a seed phrase and a channel.db file. Its is not always the case, at the moment none of the funds are recovered. Somewhat luckily there where only small amounts on it and most of the channels are to known counterparties. Now if find my self digging into the darkest corners of the web to find out how to modifying commitment transations so that I can close channels with my self in favour of nodes that still work. Dangerous knowledge indeed, but I think I can call myself a lightning wizard should I pull it off.

Sunday 29 January 2023

Too Much Too Fast

Bitcoins next biggest problem durring global financial crisis may be that bitcoiners make too much money too fast.

Given a strong flow to sound money, the obvious advantages of bitcoin over gold and silver and the small current market cap of bitcoin.

If people get wealthy to quickly without any work other people get jealous and feel justified in taking the supposedly ill gotten gains away. Bitcoiners need to make sure they are deserving.

Wednesday 30 November 2022

RBF?

RBF (replace by fee) has been put into Core v24 release. It's a non-committing change, but it does have some pretty major consequences on large parts of the bitcoin circular economy and UI. It allows people to change their transactions to make sure that they are confirmed on the blockchain, to adjust their fee proportion after you have set and submitted it. This is useful given the fee market is constantly changing and might go up and stay up for longer periods of time when you need an important large transaction to go through.

I think it is more controversial than it seems. I don't think that the occasional bounced transaction is such a problem for anyone and I am concerned that it moves trust from miners to the providers/sellers with account models which, as is very current lately, we obviously don't like. Zero-confirmation transfers do work on the bitcoin mainchain and do allow for near-instant transactions with a high level of certainty. They are very practical for vendors of real products and provide a good simple, private, honey pot-free user experience. People have said that they are insecure (you don't know you have the money for sure until it is "confirmed" in the blockchain), but they don't understand that there are no absolutes in this world and that they are better than many alternatives. We could ask how many confirmations it takes before you are sure?

Listen to this podcast for the details https://www.podpage.com/citadeldispatch/cd80-building-a-bitcoin-circular-economy-with-ziggamon/. The controversy is ongoing and the subject needs much more discussion. I don't want to lose Muun and Bitrefil. This is something that shadowy super coders could always do, but should there be a toggle? should it be on by default?