Bitcoin Monthly Update with Openoms

Bitcoin is close to becoming worthless.

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Now, what's the Bitcoin? Bitcoin's like rat poison. Yeah. Oh. The greatest scam in history. Let's get it. Bitcoin will go to fucking zero.

Yeah.

Yeah.

All right, you ungovernable misfits. I'm your host, Max. Everybody knows that Bitcoin is useless, worthless, and doomed to fail. But what if everyone's wrong? What if it's the system that is doomed to fail?

Join me as I speak to some of the brightest people in the space and slither to the deepest, darkest depths of the Bitcoin rabbit hole.

Welcome back, everyone. Today's episode is with open arms. This is for the Bitcoin monthly show. Usually, me and Bitcoin Q&A will go through Bitcoin.guide. We go through all of the software updates, how to use the tools.

I ask you a bit questions, he answers them. One robot is out and another one is in. Open arms is one of my favorite Bitcoiners. He is fucking incredible. He helps so many people. He's been working in this space as a privacy advocate for a long time.

I was lucky enough to spend a couple of days with him last week. We did a Bitcoin camping retreat. And he's the only bloke I know. I think probably in the world who brings four fully synced Raspberry Blitzes camping.

[Laughs] He did a walkthrough for everybody, taught everyone how to use them, taught people about lightning, had a Bitcoin ATM with him as well, and also went through how to use Join Market, which we touched on today.

So I'm sure you're already following him, but if you're not following open arms, go into it now. He's an absolute legend and very, very humble. Anyway, I really hope you enjoy this and Q&A will be back next month.

Open arms, how are you? Hey Max, I just hope that you can hear me, right? I can hear you perfect, yeah. That's great. No, I'm very well, thank you. Just been down in some programming rabbit hole and I could do a look at the clock.

So, you know, that's why the rush to set up. And it's all good, I'm looking forward to chatting to you. What rabbit hole are you down or can you not say? Can you hear me on the arms? Can you hear me?

Oh, fucking hell. Open arms? Suddenly I can't hear anything from your side. [Sighs] No idea what was going on there. It wouldn't be the same show if we didn't have some sort of technical issue.

You might need to sort out your tooling. Ah, yeah, I know. I think I've got all the best set up, but clearly not. So what was this rabbit hole you were going down? Or can you not say? No, it's out in the open.

It is implementing sea lightning to rest of the blitz and, you know, I mean, there are a lot of, just a lot of things to do there. And generally, the rest of this development is like going crazy at the moment because we are changing almost every file in the repository, me working on sea lightning and related to that,

we will be able to run like main net test net and signal parallel just, you know, on the same Raspberry Pi you will be able to kind of play around free on test net. I mean, especially for lightning, that's quite a big thing or anything, like testing multi-sig and stuff like that.

But first we are just focusing on making lightning work and the implementation is now. Now, and then there is like a huge tour refactoring. We are introducing like bridges, the usage of bridges from the start.

And so people in areas where tour is censored can set up a Raspberry. It's just getting the SD card image so they can get going from the menu without touching the command line. - Very cool, very cool.

Yeah, it's interesting you say about doing the sea lightning stuff because I've always wondered about that, I've always thought like it's weird that the majority of people seem to use one implementation and then like it is that a concern because you just have like almost like a centralization of everyone going to one.

And I hear a lot of people say some very good things about sea lightning. So was that the thinking there or was it because it gives you some functionality that you don't care with LND? - Yes, certainly they do support different things.

I mean, the sea lightning basically is the best spectrum. So you have this lightning out of sea repo where there are the boards which are describing the lightning protocol which are developed together by the group of, the main three group of developers but there are obviously a lot of other contributors

and the three being LND lightning labs, sea lightning from block stream, right? And then you have the Echler implementation from async. So they have like round tables where the actual protocol developers discuss the stuff and I mean the implementation of the lightning protocol itself.

And then there is a lot of things on top, right? And LND does a lot of other things which they are putting into the packages including like lightning loop service which allows you to swap liquidity out of lightning and back to on chain or the other way around.

Or there is the pool service which allows you to kind of buy liquidity by channels and sell channels on a marketplace which is managed by a lightning loop server. These are kind of value added services, right?

Which they can kind of monetize slightly but they are not part of the lightning protocol. Whereas sea lightning is more focusing on building on the specification, like driving that forward.

Like now they would want to, I mean, the next release that is like this function of having like duo from the channels from the start. So, you know, it would be,

I can make it similar, like you can put it similar, like paying with a page or an. - Okay. - To someone. Or like doing a two-part segment coin join into a lightning channel. It is, yeah, it's not the same and it's still to be fleshed out but it's something which, it's potentially will be good for privacy.

But most of all, it is the best way to kind of get set up with the lightning channel because if you have, do a funding, you will have bidirectional liquidity. So you can receive and send from the start.

- So it's balanced from the beginning without doing anything. That's cool, that's very cool. - And then there is like offers, which is like if you know the board specifications, I mean, if you heard about it, there is like board 11 we are up to, right?

This is like 11 takes starting from the very basic protocol up to the format of the lightning invoice, which is the board 11 now. So what does it consist? And you know, what do we communicate?

And you know, which all wallets and all kind of lightning implementations can use so they can, you know, read each other's invoices. So there is a board 12 now, which is proposed by Rusty Russell, the lead sea lightning maintainer, which consists of offers, which is the thing where you can communicate with the peers

outside of lightning channels. And what you can do is like recurring payments, you know, it's something like, which you could already do with key send, but this is much kind of advanced and will allow much more things to be able to do on lightning.

So, recurring payments in all that sort of things would be incredibly useful if we're going to build a financial system on lightning. - No, absolutely. This is the step forward. So, and, you know, doing it in a way, which is not like an application layer, but down in the protocol, which everyone can use is great.

But then, you know, one implementation makes it, that's kind of a proposal. And then once the second one implements it, then it can, you know, then we can speak of putting it into the protocol.

So, that's why it's good to have like separate implementations because it's all just being kind of, you know, developed as we go. And the things they can agree on, then can go into the kind of a consensus of lightning, right?

So, I mean, lightning doesn't need consensus because it's peers to peer. You don't have like a central blockchain, right? You just need to be aware of, you need to agree with the other peer you are communicating, but you don't need to agree with all the network.

So, but obviously there should be a base protocol where, you know, where most of the network can work together. - Cool, well, exciting stuff happening. I look forward to seeing this implemented.

And yeah, again, thank you for joining me today. Bitcoin Q&A is in for a service, I think. He's been really overloaded. So, I needed someone else who understands this stuff. And your profile pictures look quite similar, I realized, once we'd organized this.

So, that works, I deal. - Did you just, yeah, did you just realize it? I think that's a bit like a plenty of banter going on about our profile pictures, I mean. - Twins. - Well, I mean, you know, huge shout out to, to Bitcoin Q&A, obviously, is pushing out incredibly the content.

And, you know, the resemblance, our profile picture is just a coincidence, nothing else. - Yeah, he is putting out some fantastic content. Couldn't join me this month, he'll be back next month.

But, yeah, thanks for stepping in. And so, we're gonna start going through the list. We're going through bitcoin.guide for anyone who wants to go on and read through as you listen. But, we're gonna go through the updates first.

Q&A normally reads through these, but I'm gonna give it a go. And then, and then we can discuss, if there's anything we want to go into more detail. So, this version 1.7.0, prep for upcoming Torv3 and privacy vulnerability fix.

Do we know what this privacy vulnerability is yet? I had to update mine the other day. Do we have more info? - Yeah, sure. So, they push this update after, actually, they have another team, you know, disclose this to them.

So, you know, that was a good kind of plane together because obviously it's competition. And a lot of kind of, not always. - And a muscle too. - Was it the sounding debate was going on, but they did the right thing when they realized, obviously working with the BISQ code, that there is this problem, which now I can tell,

because the way it happened, so they disclosed it to the BIS team. They basically fixed it immediately, and pushed the version out. And I said that one week later, the kind of disclosure will follow just to give time for people to update.

And also, they are, it is forced to kind of needing to use the new version to enter new trades now, because that is the way to kind of make people update. And the vulnerability was, which was not known to be exposed, but it's quite bad actually, that if you could.

So, the way BISQ works, you put down a deposit, and when the deposit is kind of, at least you have sent a transaction, doesn't need to confirm, but at least you have sent a deposit to the multi-sick address.

Then only then the banking details of the salary are revealed.

And so far, I think you needed kind of a modified client to get around this and get the seller's details without sending the deposit. So basically, free. So, someone could kind of crawl the BISQ offers and get every seller's details

without needing to put money in. But I don't think that it would have been possible to do it without leaving a trace, right? So, it would still lead to kind of failed trades, which would have appeared in like, you know, errors and support requests and things like that, which wasn't the case.

So, I mean, that's why I think the thing that this wasn't kind of exposed. It wasn't abused, right? So, hopefully no one has kind of leaked their data because of this. - Right, so it was only on the seller's side.

- Well, I think it could be, yeah, it could be, so you call it a maker, right? So whoever has an offer up. So, you could be buying or selling bits going on, basically, because it's bit roundly, right?

So, you would be on either side of it. - Interesting. Yeah, I got really worried when that came up and then I had some funds on there and I was like, oh, I don't know what to do, whether to, so I could always get scared of like doing an update and then fucking something up and then actually losing my funds.

I know I have the keys and stuff, but I still, I still get scared. - Well, it does. - Is irrational, probably, but yeah. So, I took everything off and then did the update. - That's the best practice, yeah.

- Oh, is it okay? Oh, there we are, I've done something right, that's good. - So, Salute, I mean, you know, there are multiple reasons for this. I mean, security and privacy remain things.

So, Bisc is a hot wallet, right? Also, people can use it on like windows and on their everyday computer, which is far from ideal to have like a Bitcoin wallet there. So, just for that reason, for security, just don't, you know, keep anything on it, especially when, you know, now when the chain fees are low,

just straight away when your funds are, you get to receive the funds, just, you know, send them to your more secure storage, let it be hard wallet, let it be, or, you know, dedicated hot wallet used for, used for other things.

And also, what you don't want to do is to use the funds bought on Bisc. And in the next transaction, put them as a deposit for another trade, right? Yeah, because obviously then you're emerging, or like, there is nothing stopping the next kind of trade

counterparty to see where those funds were coming from. So, they could identify that it was, it was from Bisc, from the transaction kind of structure. And then, yeah, I mean, you know, they would basically know how much you have bought and when, and that's not ideal, right?

So, you can fund it within, when you open the trade, it comes up with the little thing saying, fund from internal wallet or fund from external wallet, doesn't it? And then you can sort of either scan the QR or send it into that, that would be best practice.

So, yeah, so what I do is, or what I would recommend is just to fund these with a coin-join output. So, just a single coin-join output to put M as the deposit. And then, obviously, with the change you do accordingly.

I mean, yeah, depends on how far you want to go with this, but that's the best practice. Again, you know, join market has like a couple of selection of UTxO sizes. So, you can pick like small UTxO, which would be otherwise not very useful, but it is great to kind of fund the 20, 30, 40%

of the next trade, which is the security deposit. And then, yeah. So, and then you would just keep either coin-joining or swapping what will you do with the change, and then also with the risk output, with the successful trade output, which would be consisting of the security deposit and the end of it when you have ports, all right?

- Yeah, and then put that into hardware wallet or something, and then would you then remix that shopping to as well? - Yes, I mean, you know, that is good practice. You know, that's why I have to advocate for join market, because wallet is just so flexible.

You have five accounts to deposit to, so you can just put back the, you know, the things into a different account and just keep running as a maker. And, you know, if you have a low-time preference, you know, they were getting two coin joints, or, obviously, you can trigger a coin during any time with individual outputs as well.

But if you use, yeah, I mean, if you use Samurai solution, then obviously that would include paying the fees for each of these, and then, you know, every enter to the world pool would create like a toxic change as well.

So, you know, that kind of need to be considered as a cost. - It was interesting learning a little bit more about join market when we were away. We'll get on to actually on the, when we get to the next bit of the software update.

- Yeah, sure. - And digging a little bit deeper, because I'm starting to think more and more about running the two in parallel, and then using other tools like lightning, certain tools to also help with privacy, because they're good for different things, and I think a mix of all of them is sort of the perfect way at the moment.

So, next up is Blockstream Green Desktop. I've got no experience with this. They're adding test net support. Do you have any comments on this one? - Yeah, just one important thing to point out with the BISC thing, as we were talking about funding it, you know, the one most important step is even if you are

like getting into the habit of doing this kind of chain, that you buy on BISC, and then you put it back as a security deposit that might part of it, and then you buy again, and et cetera, the most important thing, when you start using BISC, just don't use a UTXO, which is coming from a KYC source straight,

because then all this chain would be tied to at least by the exchange you've been coming from, like the Coinbase as a dedicated team to kind of follow up post withdrawal activity, but, and in the worst case, by anyone else, when, and not if databases leak.

So, yeah, definitely for the first one, either use a swab to think, a swab to UTXO, like, you know, swap out of lightning, which is like very easy to do with many of the mobile wallets, or just using the internal output.

- Yeah, that's something I've started doing recently, on your recommendation actually, sometimes even post mix, I will do it as well, but to put it onto lightning, and then come back out on chain, the cost is very, very, very reasonable, and so, even if it increases privacy, even if it was a small amount,

then I would still be prepared to pay X. I think it was only like, it's like $2 a transaction or something like that, it worked out to be. - Well, it depends on the amount. I mean, some of the services are kind of taking half percent, one percent, one half percent, it also depends on the actual, bit when transaction fee market,

but you know, anything like breeze, I mean, I'm consciously recommending non-coastodio wallets, right, which is set of costodio wallets, which is like breeze, phoenix, and moon wallet, you know, they are all able to, so when you send in sets, they immediately kind of swabbed into lightning, or if you are sending it through lightning,

then, you know, they are already on there. And then when you, from all of them, you are able to pay to an on-chain address, right? And that is, that's what the swap is, but that basically you are not using the UTXO, which is inside the channel, or tied to you in any way, but that UTXO is coming from the service.

So, I mean, obviously it's not that perfect as, you know, running your own node, always through tour, and using Coengine UTXO, but, you know, this is a huge step ahead, and there is no kind of leakage towards the, there is no, nothing can be connected on-chain, right?

And obviously, you know, the service might know some things, but that is, you know, not tied to your passport, and you know, there is no privacy going in there, so it's a huge step forward.

- Definitely. - So, Blockstream Green, any comments on that? Used it, know anything about it? - I do use it, I do use it actually for liquids, sometimes, I mean, just if I get to, I mean, this is like kind of running the routing nodes, kind of activity, you know, this is kind of a whole built mine, and it's not something which is like,

a best practice or anything, this is just to get to use it. And, you know, there are some exchanges where you can be, where you can deposit, and with lightning, which is great and private, and obviously, and if the account doesn't need KYC, then you know, you can have an amount building up there,

because it is through lightning, maybe automated, and then you can withdraw in liquid, which is, you know, much better than just trusting one exchange holding your fund. So, yeah, that's what I use green for, and it works very well for that.

I mean, otherwise, it might be good for noobs, setting up the first wallet, especially they have this multi-six setup, which adds more security, but it's a bit, it's kind of, not that interchangeable with other wallets, so it's not just that you have, you know, to about 24 words, and then you can put it anywhere,

because it is a multi-six, so you need more than that. You have like a recovery tool, open source recovery tool to extract the funds, even if the blockchain server would go down or the blockchain green wallet would be managed anymore, so it's a good solution.

- And they've added test net support, as I said. - Yeah, that's always good. - Blue wallet, V6.1.6, bug fixes. I don't know what they are, do you? - Yes, I mean, blue wallet is, again, it's a fantastic wallet, I think, very good to set up, and there is, like, very much steps towards self-sovereign entity eviting the wallet,

so by default, it is using your own keys on chain and sharing, using, basically, public-electrum servers, which is quite bad for privacy, but then, and the lightning is costot your by default, right?

So, you're using the blue wallet server, which is holding your funds, but both, first step, you can connect to your own electrum server, and even over Tor now, which is fantastic, so, you know, if you have a home setup, then the on-chain funds are sorted like that, and you can use watch-only wallets,

multi-six, things like that, very rich functionality, and then, with the lightning as well, you can use your own, or someone else's, right, free choice of LND Hub, which is kind of a backend, which you would need to run on top of LND.

So, you can use blue wallet as a non-costorial solution as well, and, I mean, but things, even, you can import your LNT export wallet into blue wallet as well. Again, another, another cost to your solution, but that is, you know, it's not managed by blue wallet, but by fiat jobs, so, you know, you might want to try it out,

and, you know, have fun with it, but it's not recommended for any significant funds, of course. - I quite like blue wallet. I think it's one I'd probably recommend to friends who are starting with Bitcoin, like it seems to be pretty user-friendly.

- Yeah, I think on iPhone is, that's the only kind of good option, isn't it? Like, which is not the test flight, and stuff like that, so, you need to, and then, they had very, I mean, they are developed, so the development is quite big, they just came out of version, which is not in this kind of release,

but it's an alternative repository on GitHub open source, which is using these square cryptos, kind of lightning development kit, which is based on the rust on a very kind of efficient and safe programming language, and it's just kind of the first of the new wave of these apps where it will be, you know,

increasingly easy to integrate lightning in a modular way into mobile wallets, especially, but basically in any application, and it's great to see that, like, you know, blue wallets already trying this out and testing, because that's what, you know, moves this forward.

- Yeah, definitely. Next up, caravan adding multi-sig UTXO selection, so I assume that just means that within their multi-sig, you can actually select UTXOs and label them, but maybe that's not what it means.

- Yeah, I think it sounds like going control, but or improve going control to me. Okay. - Caraman is great, but I don't, didn't try it. - Yeah, me neither. Electrum bug fixes and reproducible builds.

- Yeah. - So what is that reproducible builds? Does that just mean that someone can literally rebuild from source so that they can test that there's no malicious software in there, or like, what does that actually mean reproducible builds?

- So you can be out from source, you know, every open-source software should be possible to kind of build it from source, but the reproducible means that you get the same outcome, right? So independent of your build system or the date, or, you know, the permission of the files, and you know, I mean, there are so many variables

which can kind of change from one build to another. So this is kind of an advanced software development challenge to be able to organize the tools in a way that they always kind of lead to the same file.

So you are building an app image in this, I mean, for Linux, for example, or a .exe for Windows, and you hash that file, and if the hash is the same, then you can know that it is, you know, bit by bit, it is the same file.

So with upper-use build, they are publishing a file, and then if you build for yourself, you can get the same bit by bit result, which is, I mean, it's just great for security. You can be sure that, you know, even if some other people do this, and they say, okay, I got the same result, you can trust that hash, or you can trust that file,

it adds a lot of security to this. And, I mean, Electrum is, you know, it's a widely used software by a lot of people since, you know, a decade, or I mean, and it's not that old, but good couple of years, and there's been, you know, examples of exposing it, you know, injecting malicious code.

So it's good to see that they are focusing on security even more. - Okay, cool. Next up, we've got Join in box, and I was lucky enough to try this out, thanks to you the other day, really, really fucking cool.

It's something that, like, I've known about for a long time, you've worked on for a long time, and I've always just been way too scared, if I'm honest, to even try it, because it just seemed way too technical.

But you did a bit of a walkthrough with me and some others the other day, and I have to say, I was really impressed. It's really, really cool. You've got some software updates, new commands in there.

Can you talk a little bit to anyone who hasn't yet used this or doesn't know what it is? Why is it here, and what does it do? - Right, yes. So Join in box is fairly simple. It is basically a bit more graphical and user-friendly wrapper around the Join market.

What it does, it gives you kind of a menu system which can be used like an interactive guide, basically, instead of typing in the comment line to use Join market, right? So you don't need to, ideally, I mean, there's the aim is and that, you know, always developing to watch that, but you don't really need to fall back to type any comments

apart from, you know, answering questions on the screen, like, you know, where do you want to send funds, what fees you want to use, how many people you want to co-enjoin with, how, you know, and which wallet you want to send from, basically, and obviously always double checking these things

before, like, asking for the passport to unlock your wallet and then go ahead with the coin join or the, or the just sending a transaction with your market and all of the kind of output is exposed.

So there's nothing working in the, nothing happening in the background which you wouldn't be, wouldn't know about. So this is more like, if you've used Raspberry Blitz, for example, that's kind of approach that doesn't try to hide anything from you, but aims to make it, make Join market in this case easier to use.

And then also it has the kind of ability to set up a system, the service, which then can run the maker, the yield generator in the background. So you don't need to keep the window open, basically.

And also it's just an easy, an easy thing to start. And then there's a lot of things like, you know, helping you to install Jordan Market to start with in the most kind of security focused way.

You know, the way I'm happy to use it myself is, you know, it's a good thing. So that's another thing that you can use, like Join market again in like windows as well. But it takes the same amount of time to just grab a Raspberry Pi and just, you just need an SD card, put this image on it,

or if you have more time, build it from the source code. And you can start using Join Market, you know, with the Bitcoin core running on that Raspberry Pi or connected to something else. - Yeah, and it's in the Raspberry Pi Blitz menu anyway, isn't it?

- Yes, it's a service, it's a rest for Blitz. It does, so you can just install it from there. And then, you know, it sets up everything to connect to the Bitcoin core and all the running there already.

And also what is another important thing, which would be extra steps that it's configures everything automatically to go over tours. So there is no communication to the IHC servers, for example, over clear that.

- Yeah, it's really cool. And I found like, it made it accessible enough for someone like me to want to have a tinker and want to have a play, like using Join Market has always scared me, but this definitely, I mean, maybe having you there was sort of like, made me feel a little bit more confident.

But I started to think, well, you know, a lot of these, a lot of these smaller UTXOs that I have like lurking around, a lot of times where I think, well, do I want to whack that back through Samurai again?

Maybe not, I don't want to combine all of these. It seems like it would be quite a nice way to use it and just go in as a taker like you suggested. And then once you've gone in as a taker, then like you say, leave it on there as a maker to continue mixing.

And yeah, I mean, I'm sure that the yield that you get is tiny, but something's better than nothing. And obviously, you know, I love Samurai Walle. I love the Ronan Dojo team and I use it a lot, but there are certain times for certain uses where this just makes more sense to me now.

And now that it's accessible, I definitely want to have a play. So I'd suggest that anyone who is already running a Raspai Blitz, go and have a look. And I wondered if you have somewhere that you suggest specifically people go to like learn and read through, is there any articles you really suggest or videos or anything so that people

can have their hand held a little bit? - Yes, it's mainly in the repository of the Joining Box. So if you go there, you know, just the end, there is like plenty of documentation linked, including videos and slides and a couple of kind of walkthroughs.

It can be improved, but there is plenty to learn and go down, go down directly to all if you feel like it. And that is available. So if you install it from Raspai Blitz, the current version does kind of install a slightly outdated version of Joining Box, which is not a problem because you can just, there is an update menu within that

and it can just one click update and it pulls the latest version from GitHub. And also if there has been a join market update, which there has been since the last Raspai Blitz relays, you can install the latest join market version as well, which is, I mean, always recommended.

So I mean, that's the first steps to do. And then basically when you have done that, you will have like a quick start menu. The first thing will be, which then just tells you to kind of, you know, generate a wallet, display your addresses, where to deposit, and then, you know, start the maker.

And then you have all the options available. And also on in this quick start menu, there is like a link, a menu option to link to the documentation. So basically you have the, you have the, all the kind of useful things gathered so far in a list and, you know, you can study as much as you like.

- Very cool. And join market version 0.8.3 bug fixes, any sort of comments there at all, or? - Yes, I mean, there are a couple of smaller things. I mean, if you are not running join market yet, then I mean, it's always recommended to update.

It's usually very good code review. The previous version was where there was kind of a private, potential privacy leak between like takers and makers, which was a highly recommended update.

This is kind of, there is nothing critical in this, but there are good improvements. Like, for example, there is the, one of the ISD servers, Tor address has been changed. As we know, we all go now to version 3, the longer Tor addresses.

So, you know, that's now incorporated in the release. And for that, you would just need to reset your join market config file if you had one already. And the new one will be generated with the right on your addresses towards these servers.

And I mean, bug fix is the pay join code. And I mean, everything is just continuing to improve, that's, you know, people use it and find them think. There's also a bit of a logic change in the way the maker works.

So, you know, the maker as your, you know, now you are after, you know, going through at least once in the join market quality of five accounts. And if you deposit into one, then, you know, running through a couple of coin joins, your funds will be distributed between the five mix depth or accounts.

And the way it was so far that it's kind of led to having the funds kind of evenly distributed between the accounts as you were running the maker. And now there has been a change of logic that it aims to kind of collect as much as possible in one account.

I mean, you know, funds only move when going through coin joins. So, only the coin join output moves to another account. But, you know, the way it chooses which account it is participating from, when participating in a coin join, it can aim to collect as much, as much funds in one mix depth as possible.

So, you can offer higher amounts to higher amount coins joins to take part of, because you can only merge at a time in one transaction from one account. So, you cannot mix between the accounts.

This is like a very important isolation of the, you know, om-mix changed and the coin join outputs. So, to have more than one mix depth means that you can participate in higher amount coin join.

So, you have a bigger chance of getting kind of mixes for free. And that is kind of a thing which might be, might be good in this update. Or might be kind of significant for a user. And there is a lot of things which is like, you know, preparing the next big release, which will, which will introduce the diffidelity bonds,

which I'm sure, you know, if I talk about a lot, when it becomes kind of live or mainnet. - Yeah, do you mind touching on it? 'Cause I spoke to Chris Belcher, it must have been a year ago, and he'd sort of touched on this and explained it.

My basic understanding is that this would help stop or make it more difficult for a civil attack, because it becomes more and more expensive. Are there trade-offs with this and what's the thinking?

- Yes, I mean, a trade-off is that people who are running the yield generator in order to have higher chance to get into coin joins as a maker, they would need to tie down funds, right? So, I mean, this is, and also you mentioned that you like to like, look into time-locking some funds, for example.

So, this will be a great solution and a highly tested solution for that. Because what you do in these fitted bonds is that you take a UTXO and you send it to one of these time-locked addresses, which is being generated when you create the wallet.

And you can see how much, I think it's the resolution is month, so you can say I'm just time-locking until the beginning of next month, that's the like the smallest you can do, but two months, you know, one month, two months, three months, or, you know, years you can do it, I think, which is not recommended, but, you know,

a couple of months would be like, you know, three months, half a year or so. And then you would have this UTXO sitting there. It's also very important that it is a private UTXO and that's something which can tie back to you, right?

So, this should be a coin join output again. And according to the size of this and the remaining time-lock, you have a higher chance of getting chosen by a taker to participate in a coin join.

And also the higher the amount and higher the time is, it is exponentially higher chance to get included. So that's for, so it doesn't help if you have a lot of small wallets with small time-locked UTXOs, you would have an exponentially higher chance

with having one wallet with your one time-locked UTXO. And if it's, you know, if it's double the size, then you have four times higher chance, or if it's, you know, five times the size, you have 25 times more chance compared to what you would have with five different wallets, right?

So that is kind of the simple attack is getting less efficient, because everyone is interested to kind of use one wallet as much as possible as a maker. And then-- - In a sense. - Yeah, I mean, these, you know, so these UTXOs basically will become spend of all as any other UTXOs in the wallet after the time-lock expires.

So that's the basic idea. Obviously, not all of the makers will be having time-locked so fit the little bonds set up. So by default, when you are... And these are all configurable. In your market, you have like complete freedom.

Like, even if you don't go into the code, you have the configuration file, but there's so many variables that, you know, it takes more to kind of explain what all they do. But there will be a variable which you can configure to say that how many makers you want to have fit the little bonds at all.

So by default, this is like 12.5%, which is one-eighth. So one-eighth in your coin join would not have fit the little bonds at all, right? By default. So this is just to make sure that, obviously, not only do we else get to participate, right?

Because you have someone, you know, looking, you know, 100-bit coin for 10 years, then he would have a higher chance of participating in any kind of first coin join. But obviously, the same pair, coin joining the second time, wouldn't choose that same maker, right?

So there is a lot of calculation going into this.

But the most important thing is that it does make it less efficient to make single attacks. And if you go to the offer book, which when it will be introduced, I mean, I'm running one with like this PR activated already, then there will be the statistics that how many bit coins you will need to lock

to efficiently single attack the current kind of pool of offers.

Right? Which is very, very interesting. And it also tells you that how many funds need to be tied down by similar attackers from the outside, right? So if they would come in as new participants, but also it tells you that how many attackers,

how much funds would need to be tied down or tied down already for attackers in the inside, right? So it's also pretty assuming or telling that what is the cost if there is a current stability going on, you know, what does it really cost in terms of opportunity cost of locked funds?

That's very cool. It's fascinating. And I think that will be a source of a lot of discussion in the future, not too long, I think. - For sure, okay, cool, and next up we've got LND. I'm not even going to try and read that version, it's long.

Prune node support, AMP, send and receive. - Yeah. - Comments on that? - Yeah, I mean, you know, a more reliable Prune node support is great. I mean, I think as it's there be always an undesired thing because if you have something going back from some channel

history going back to blocks which are not downloaded or not on the distance, you would need to download them. So I think the ability of this is what has been expanded. And also, yeah, it's more about Bitcoin core at what blocks it brings or which it doesn't.

But yeah, the important thing to remember with Prune nodes that is always very difficult to restore wallets. So to start a new wallet is not a problem because you just keep the blocks which have UTXs or which have transaction history applicable to you.

But then you are restoring wallets for which you don't have all the blocks, then you would basically need to download the whole blockchain again and every time that happens. So it can be a huge problem.

For example, if you are running on Raspberry Pi with an SD card because that would take weeks and weeks. So like the joining books, I offer running a Prune node. But basically, if you lose the history, obviously you have the seed and you can restore everything, but you need a full note for that.

And then the advice is just to go to a full note, either to restore wallets or anything you run on your desktop, which is not a Prune node. - Okay. - Yeah. And then AMP is great. AMP is basically, so atomic multiple path payments, which is more like, so it's a mix between like MPP, which is the multiple payments

where you can pay through multiple channels. And also key send, which is invoicesless payments. With AMP being atomic and multipath means that you can basically receive invoicesless payments.

And for it to make atomic, it needs to have like a proof of payment, which comes together and then the payment is fulfilled and sent back to the sender. So the biggest difference is here that you can push a payment to a pub key, just like with key send, but with the case of AMP, you would have a proof of payment,

which you wouldn't have with key send. So it's like getting received without paying an invoice, right? So you don't get an invoice to pay, but you get to receive T in return. And that's the biggest thing.

And it's, again, opens a lot of doors in kind of, in the terms of spontaneous payments and invoicesless payments, static QR codes, et cetera. - Yeah, the invoice list payments is such a cool thing.

Like it's something, I remember, when I was first sort of learning about lightning, I was like, I kind of, I kind of think it's a shame that you can't do that. I always thought like, you know, with Bitcoin, you can just send with that, you have to have the invoice and, you know, for things like, you know, like this,

like what Q and A's put together so that we can read through here. If he had like a little QR code or something, then people could, if they appreciate the work he's doing, then presumably they could just bang a payment across to him.

And what you're saying is they'd also get a receipt for that and he can just have that static on a site and people can pay and then you don't need something like BTC pay or something like that.

- Yes, yes, I mean, that's already, I mean, keys and payments are already possible. And you can have, you can use like L and URL pay, which is another server being exposed on a kind of a HTTP or HTTPS interface.

And basically, it pings the receiving nodes to send an invoice, so it's nothing voiceless. But yes, M for the extend this, also offers with extend this, right? So this is kind of a bit of a, these are things which are, there is some overlapping functionality.

So we'll see how this plays out. But yes, I mean, this is a use case, which is great. And then obviously that receipt, you can use for, I mean, hard to think of, but like, for example, text purposes, right?

That you have paid something, right? Or obviously, when you're buying something, I mean, that's more relevant. That's, you know, not pay, not, not to be quite like texting a bit. - Yeah, that's not fun to suppose.

- Yeah, exactly. So if you buy something, obviously, and you have, you don't receive the product, then, you know, you can say that, look, I have a receipt. So, you know, there's a bit of a reassurance there.

And why is it so much different from paying on chain, right? And on chain, you have the consensus, the blockchain, which serves as a proof, and also available for everyone to see, right? So you just need to point on the TXID and look, I'll just send this money.

But then, lightning be off chain, you have no central database on the peer-to-peer recording of the payments. You know, you would need an invoice and an dispayment hash, or kind of the secret, which is getting communicated back to the sender, proving that he has delivered the funds.

- You know, when people talk about building a financial system on lightning, and this being a layer two, and that we, you know, the dream is to completely just fucking get rid of the current financial system, and we build our own.

And these are the sort of things that are just, without this, you can't do it. And so, like, to me, that's a massive, massive step forward. And very, very good to see, because you're gonna need that.

You are gonna have times where someone says, "Oh, well, I haven't paid you." Sorry, you haven't paid me. And so I'm not sending the product. You have to have these checks and balances if you're gonna build something efficient and effective.

And so, right, next we've got my node bug fixes. We've got nunchuck new BSMS backup formatting. I don't know what that is, do you know BSMS? - No, I haven't heard about this before. - No, okay, we can move on then.

Passport version 1.0.4 bug fixes. I've actually just got myself one of these, which I'm gonna be testing. It's really, have you seen one of these devices yet in the flesh? - Not in the flesh.

I mean, I just, I'm just aware of the story of them, you know, kind of forking the court card software. - Yeah, there's a lot of beef. - And then, yeah, I mean, and also like collecting money on the premise of they will basically have a product, which is, you know, not even their kind of work so far,

apart from the hardware, which is, you know, it's like a basic old firm, isn't it? - Yeah. - So I'm not sure. I mean, it depends how they kind of contribute back up stream and, you know, what the development feel, how the development feel go.

- It remains to be seen, remains to be seen. The device though I can speak of is fucking beautiful. It's a really, really nice quality bit of hardware. I'm just waiting to set it up properly because the one thing that I really wish that they had, and I've been told that they are going to introduce, is the ability to add entropy.

So at the moment, you would have to have trust in the seed generation, whereas obviously, the only other way around it is to get a cold card and then export the seed onto this thing. So, you know, I think they need to step their game up.

And I've been told they're going to, I'm not sure what the bug fixes are here. Like you say, it remains to be seen how this thing goes forward, but hardware wise, it's promising. - I mean, it's good that they have sent out that this is, it should have been paid at least.

And does it have a secular element? - I don't know is the answer to that. I can find out. I don't know. I know Q and A has one of these as well. So I will ask him on the next month's episode because he's been playing around with one.

And he's actually done a setup guide for it. So actually it's probably in there. So I'll link that in the show notes. - Yeah. I mean, I'm not really looking into getting more hardware but what I'm looking into is to be building some more.

If, I mean, I already have more hardware wallets than cost code wallets, right? So it's mainly for experimentation. But I mean, a cold card is still, you know, in the way forwards in terms of, in terms of it can be used as like a CK buffer, you know, it's like an HSM, signing device.

And I mean, the functionality is probably improving. They had like a very good way of, I mean, they have like this bit 85 then you can generate child seeds from which if they would be exposed, they wouldn't compromise the source seed but they could be easily used for like, you know,

seeding mobile wallets or also these kind of DIY stateless hardware wallets which are, you know, have better and better options. So yeah, there are a lot of things in code card which, which I like and I don't really looking for a replacement in that sense.

- Yeah. No, no, I'm with you there. I use cold cards. It's the only thing that I use now. They are leaps and bounds ahead. It's the functionality on these things is fucking incredible. The development on these things is incredible.

We featured Rodolfo in the cold card last month for 21ism. I think it's the best hardware wallet on the planet but at the same time, it is still a bit intimidating for newcomers. I still will, a lot of the time I have to go back and read through guides and just double check because it's not all that intuitive.

And so something like a passport, it doesn't have as much functionality and it's basically for code, but it is a lot more simple than use. And so like when I'm onboarding people at the moment and like a lot of the people who have come in new to the space and I'm saying that you need to get your, you need to have your own keys.

You need to have a hardware device. What tends to happen is they're too intimidated using a cold card. And then the other option is like, well, you know, what else do I offer them to use?

And, you know, the simplest interface is a ledger but I don't want anyone to use that, obviously. And so I have something in the middle that maybe doesn't have quite the functionality right now but it's really, really simple to use.

You know, it's all about trade-offs. And so that's why I'm playing around with this because newcomers can start with that and then maybe they want to move on to a cold card when they get a bit more comfortable.

But yeah, the more choices, the better in my mind. - Yeah, absolutely. And you know, air gapping is a huge thing. And I think my favorite is in terms of UX is the Spectre DIY, which is similar, kind of, has a big screen, you know, very much based on QR codes and then has a very well-paired kind of desktop application

in terms of Spectre wallet. - Yes. - But I mean, this is not kind of commercially available in that scale that you would just tell anyone to have it yet. But I hope that, you know, the crypto advanced kind of team will get there where they can just, you know, mass manufacturers can have smart guard readers

and they'll be just much more available anywhere. But yeah, I would be happy to look at like foundation device and you know, see, but yeah, it might be too early to kind of, you know, recommend it to the beginners.

- For sure, yeah. And like you said, the Spectre DIY and the seed sign are really cool. They're, I've got parts on their way to build both of those and fuck around with both of those and the cases are coming over to me.

And they look really, really cool. But like you say, it's, you know, a newcomer who's just bought Bitcoin yesterday, they're not gonna be building one of these things. So, but yeah, they do look really cool.

Next up, Phoenix, version 1.4.14. General UX improvements. I've not used Phoenix before. You, you recommended it a few times. I've heard, I've heard good things. So what are these UX improvements?

Have you noticed them? - No, actually, I mean, there's a lot of UX about like, how they're handling, for example, on chain fees or like, you know, general opening fees and things like that.

- Okay. - And also there's been a big release recently. I think that's within the month that they made the Phoenix wallet available for iOS and now out of test flight. So just, you know, you can go to the app store or whatever and download it.

And it's just, you know, it's just a fantastic service with a very solid, so, you know, this is the front end of the third major lighting implementation, which is ECLER, which is developed by async.

And, you know, also backed by the, I think the biggest lighting node, which is, I mean, backed by, I mean, the service is provided by that because you are routing through it, which, you know, is a quite good guarantee that your payments will work.

And they have enough liquidity and they have like multiple bit good channels with like, you know, loop service and stuff like that. So, you know, it's very unlikely to have, to be stuck with it.

But also, it's good to know that this Phoenix wallet is also self-costotly also. You have the keys, right? But the only thing is that your channel is with the async node. So, I mean, there is some kind of very openly communicated privacy trade off there in terms of they see where you're paying to, but they don't control the keys.

So it's a great service, you know, very much. So on the side of self sovereignty, but, you know, with the flawless kind of UX there comes a trade off of, you know, linking some privacy there.

But also it has like built-in tour. So, you know, they might see payments, but they don't know who to do that, you know, where it is, at least they don't know which IP address it is coming from.

Obviously, seeing enough payments, you can deduct who is it coming from as well. But this is something to be aware of. - Cool, ride the lightning, bug fixes, plus loop out fee cap removal.

- Yeah, I mean, yes. Ruth, so, I mean, if you're running a lightning node, you are aware, or people who do that aware, that the main cost of like using the loop service of lightning is to get to route there.

So you need to pay quite a hefty fee, like, you know, maybe 1% or so, to get to the actual node, to be able to use the service. So, obviously, if there is a cap in the payment fee, then it cannot work.

So, this is just something, you know, to make it work better. RTF teams is great. They do a compatible with multiple implementations as well. You can use RTF for C lightning and async as ECLER as well.

So, it's a really good software idea. OG, web UI of lightning, which is now maybe three years old or so. - Yeah. - Let's see, yeah, it's great. - Cool, Samurai Dojo version 1.10.1. Software updates, expert activity reports and bug fixes,

and Samurai wallet. I'm not gonna read that one, it's too long. New onboarding UX, ability to overwrite Dojo connections. So, yeah, they've done loads of bits. I just had Pavalon as well, talking about the UX that they're doing on there.

It's really, really slick. I believe you use this as well as join market and any comments on these updates. - Yeah, I mean, dojo is getting more efficient, I mean, faster and more reliable, I guess.

I didn't update to this so I can't comment. The thing on the Samurai wallet thing that now there is a custom directory location for the backup file, which leads to getting a question from the wallet that either asking for permission, I think, to kind of save the file and then it might ask for the location as well.

So, I had people approaching me that look, I mean, is it safe that this wallet now asks this thing which wasn't needed before? Or might have been needed before, it's just reconfirmed, but yeah, I mean, this is a feature which makes it better, but questions always make people more insecure,

but yeah, you need to come and listen to the podcast or to have a look in the actual documentation that is there anything causing this question? And yeah, that it is. - Cool, seed signer had supports for Sparrow and Blue wallet.

So we're just talking about seed signer. Have you played around with it before? - Well, I'm about to, I just had the postman delivering the Raspberry without any kind of virus connection, because I had one before, but that had Wi-Fi in it.

And yeah, we put one together and yeah, it's great. I think having all this, I mean, I've still not really done with multi-sig, but I will start to kind of test it on like testnet or signals probably.

And these are the devices which you don't to kind of play around with scaling, having cameras, displays and air gaps, fantastic. - Okay, cool. And they've added support for Blue wallet, which we've covered as well.

Sparrow version 1.4.2 add support for Keystone plus seed signer, what's Keystone? - I think Keystone is another hardware wallet, which is like, which is air-gipped and kind of PSBT, QR code-based, but it is basically a modified Android phone as for a signer.

I'm not sure about it. I'm not sure about the hardware details. Like, you know, if they have like taken out the wireless or is it just disabled? Or I mean, I literally don't know anything about it, but it looks quite cool and has a big display.

And oh, is it not the keys to it? Because there's been a device which then was some debate about the future of the company and then basically the developer has faulted out and made his own and it was already a kind of a nicely fleshed out device with, you know, wide support in these wallets.

And it's the same I speak about, but yeah, I'm not familiar with it. - Okay, all right. - But I think Greg has the biggest kind of announcement either on this version or the previous one that he has added the ability to pay to tap root addresses on like test net or signet or so like not on main--

- It's the first to do this, is that right? - Yeah, it's one of the first to sure. I mean, you know, people are coming out in like, you know, lockstep to do this, which is great. And it's hugely important to be able to test this before.

I mean, we get to test this even before it activates. I mean, it already activated on test net and signet, right? Tap root is, but the transactions wouldn't be valid in, wouldn't be valid in main net as far as I understand.

You might be able to send, but you certainly cannot spend from those addresses yet. - Cool, Inspector DIY, general updates and bug fixes. So we just talked about that. So I'm yet to set one up.

You've used one unlike it. Have you noticed the updates or do you know anything about them? - Yeah, I mean, this wasn't a major one. The one previous had a bit more kind of things to add.

It's very nice. The way the update function works that you just need to download this file, which is obviously signed with Steppen's, the developer's BGP key, but also you just need to put it into the SD card, on the SD card, copy it and then put it into the device.

And then when you switch it on, it will check. It will also verify the signature on the device and then updates just like, you know, just like your Android would update, but it takes only a couple of seconds.

And it's just, it's just very nice to see. You don't need to kind of, you know, connect it with USB or anything, very smooth. This is, you know, a very nice thing to use. And then also if you have any kind of requests or things which could improve, then, you know, the developers, I mean, including Steppen's negative

and the developer's C signer as well, and also called Karama's say. They're so approachable that, you know, they would implement the functions if it makes sense. And, you know, you just have it.

Then just introducing a new use case or something. You can drive as a user, you know, you can, even as a user, you can drive the development of this. And then respect to DIY will be able to, sort of a, it is designed to be a kind of modular.

And then you can have these smart cards, which are like 10 pounds each. So you can like order them in Bach. It's like a, it's like a. - Like for a hotel. - Like a bank card. - Yeah, yeah. - Yeah, it's like a bank card, which I get, it has like NFC, but the most important is has a chip.

It's the same chip, but like the bank cards have, when you put them in. And it's being read, being read, it's just a basically a secular element, which replaces the need for a secular element inside the device.

It can be completely open. And then you can, it's programmable card. So it has a couple of kilobytes of memory, and you can put applications on it. And you know, this, respect to DIY will be, is a platform already, where you can just develop these applications and you know, make them do like different things.

And you know, it's just so, so flexible but you know, we are still due to see, you know, how many things will come out of this. - Very cool. Thunderhub updates. I've had a play around with this a little bit, quite like it.

Is it something you use or do you, I imagine you do everything sort of command line or something crazy robot? - It's good for, it's good for, like if you have like a mobile, if you are reaching your node or mobile or something, you can always, you know, have these as web, it is a web apps, like including RTL.

Thunderhub is started later. It is, it's a nicer interface, I must say it. But it's only compatible with R&D. And it has like the balance of Satoshi's code incorporated. So like the rebalancing and, you know, some of the things are due to come are much more advanced than with like RTL.

So it has a good, good couple of things. You can use like LN URL auth. You can log into LN markets, for example, with it. And, you know, by channels from L&B and stuff like that. So it does have some advanced functionality which is not available in other things connected to your own node.

So yeah, very much like it again, a very nice, very good responsive developer team. I think it's mainly a one-man team with Anthony Podemin. Obviously, open-source contributors play. And he's the same who is making this embossed space Lightning Network Explorer website, which is again a huge project.

And it will be come up later down the list of hours, which, you know, like a lot. And, you know, it's just a very good kind of Lightning application contributor, say. - Yeah, and it's said revamped UI.

I mean, I personally, from when I've last used it, I'm not sure if I'm on the latest version there, but it's really slick. Like it's very usable. And then so I can go through and get the fucking L-max.

I can't get my words out here. My Raspberry Blitz, I just go through the Raspberry Blitz menu. And then it will give me a tour address that I can access and a clear net address that I can access.

And then just sign in using the password. And it just makes it like, it's very, very clean. It's very sort of user-friendly, isn't it? - Yeah, I think it gives you, I think if you're not like, you know, trying to automate things, then you don't really need to use common line.

Then you have one of these tools available. I mean, I know especially, even from mobile, you know, it's basically makes it able to do most of the things on your like, you know, people want to open enclosing channels, managing channels, rebalancing, you know.

And then also these extra services, it's, yeah. So it's a UI for L&D basically. Very good. - Umbral stability improvements. I spun one up just to see how easy it was. Then I listened to the talks and I've now disconnected it, so I don't assemble anymore.

But yeah, for anyone who is running it, stability improvements. - Yeah, I mean, just be aware of, yeah, it's an easy start. And, you know, I would say it's best to be like, like a gateway drug, you know, to getting to some advanced, more secure and more to kind of serve sort and setups.

- Yeah. Yeah, I've found now like the two nodes that like I will recommend to people and the two that I'm just like, they're the ones I'll always run are Ron and Dojo and Raspberry Blitz now, because between the two of them, I have everything I need.

And to be fair, Umbral was ridiculously easy to set up. Like ridiculously easy. It was one click done, it just worked. But, and it's good to onboard, but with those other two, I feel like you've got everything you could possibly need.

You really don't need anything else. And I still run a my node as well. But then all I actually use my my node for now is just linking it to my Spectre desktop. So I don't actually, I don't actually need that.

I could do it with either of the other nodes, but I still run it just 'cause it was my first node. It's almost like a bit of sentimental value. And yeah, it might come in useful in the future.

So I run those three, but yeah, Umbral, well, you know, it is what it is. - Yeah, it's a showcase for the excellent UI they did. But you know, the underlying kind of freedom and verification is lacking to me.

- Yeah, cool. Well, that is the software updates. What do we go on to now? Let's just cover a little bit. Anyone who's on here, obviously you can read through the rest. We won't go through everything.

So Bitcoin.guide, we've got education here. I think we'll just cover quickly. We've got a moon wallet guide from BTC Sessions. Link is on Bitcoin.guide. Have you used moon wallet before? - I just started it quickly.

It's something which is, you know, very much targeted to people who have led kind of only computers. Is there phone and makes lightning usage easy? It has some privacy improvements built in as well.

Like when you are generating an invoice, it doesn't use the fixed pop key, which is coming from the node running on the wallet, on the phone, because this is a similar setup. This is so self-cost to the model like Breeze and Phoenix is.

But you're not sharing the pop key when you are sending an invoice, instead it generates you a new one with every invoice. It's quite a nice hack for an hour. It's good for privacy. And also it has like this inverse integration of the on-chain or off-chain balances and it does swap us automatically.

I think it's a, I think it's Southern American team who are like, you know, focusing on this kind of use case when people are able to have their full functionality in their hand. So it's a great wallet and it's usually developed further as well, so I'm looking forward to see that they come off it.

- So yeah, BTC Sessions has done that guide. There's a home mining guide from Code of Bob. There's also a brilliant one from a kind of alchemist. And yeah, if there's ever a time to start thinking about this, doing some home mining, probably now is the time with the hardware dropping in price, the hash rate dropping,

and you can find yourself some cheap. - I think hash rate is just picking up again, so. - Well, it does matter if I find their new homes soon, and there's plenty of still missing, but yeah, they've done this trans upwards.

- Have you ever given it a go with ASICs? I know you said you tried with GPUs? - Yeah, yeah, yes, I had unfortunately a non-sharp 256 ASIC.

Shame, shame, shame, shame. - Shame, yes. The thing is if you just keep dumping these things, alternative things you could mine, that's also kind of showing the market decision. But yeah, there is no point doing that anymore, so it was really a flirting for me as well, you know, most things I've done to say.

- Yeah, well, you're very much, you just get your hands dirty, don't you? You seem to just try everything all the time, and. - Yeah, definitely. - Just dive in at the deep end. Rose Publix's guide by a kind of alchemist.

- That's a very detailed, very good guide. I was impressed seeing it, screenshots and video. I think no video is about very detailed screenshots, and you know, just going step by step. Yeah, you should recommend it.

- He does some ridiculously good guides. They're so fucking detailed. Like ridiculously detailed. So yeah, definitely check that out. Anyone who wants to set up a Rose Publix. He's done another one on self custody, also highly recommend.

There's a taproot thread by merch. I haven't read it, but hopefully you've gone through that one. - I think so briefly. It's been a while now, a couple of weeks. But yeah, here's the man, Paul, where the man, very good follow on Twitter, it's just, can always have the.

- The man, Paul, where the man. - Yeah, I think that's what he calls himself. And then he's like a regular in the Bitcoin.stackexchange.com answers. So there's a very technical, very detailed, considered answers to all these technical questions.

And that's what his kind of Twitter feed is as well. So have a look. - All right, well, are there any other bits on here that you wanted to cover or particularly stood out to you? - Well, there's this releases section where we always spoke about Ambus.space, which is a very nice new lightning network explorer.

And another lightning network focus thing is this lightning network plus site, which is a huge improvement. I mean, now we can see that people are deploying liquidity and lightning, it's like doubled in the past three months, something or significant improvement in the public capacity as well.

And the number of running nodes are just going up like crazy. I'm not sure if it's, you know, people now happy to kind of go ahead and play with lightning now. The mempool fees are a bit less and they can open and close channels with low cost.

And then, you know, everyone is getting aware that, you know, this is getting usage. And then, you know, it's good to get ready again to position yourself for a high launching fee environment or just, it's all high because of like a Salvador or other use cases.

But, you know, we'll probably see this trend going up and up. - Yeah, it's good to see that the lightning network plus site is really, really slick. It's kind of Ring of Fire idea, which has kind of been sort of more automated really, isn't it?

- Yeah, the nice thing is I don't really like to participate in these kind of things in like Telegram video accounts I use for, you know, communication and like in a byte space. So, you know, you either have like a dedicated Telegram account but then for that you need a new phone number.

So, in any case, that's not my preferred kind of method to tie my node and hence my funds to my Telegram account and my phone number. - And you are honestly, yeah. - I'd rather open this lightning network plus site in a tall browser, you know, make a disposable email address.

I mean, that's much more easy than, you know, getting a phone number. And then, I think it might not be even hopefully get very needed. But it's very good for notifications, you know, when you communicate that the other peers are, you know, opening channels or have some questions then the email address can ping you.

And then that you need a new node and you can participate in these liquidity triangles or squares and, you know, pentagons and whatever where people are opening channels to each other. You open one and you receive one and that, you know, it's usually improving the kind of field position and it makes you able to route payments

just by participating in one, right? Because you have an incoming and outgoing channel and hence capacity. And it's just, I think the last I've seen it was helping to deploy 1,800 channels and 48 Bitcoin capacity through this website.

And it's like, it's not there since the month, right? It's a couple of weeks and it's also being iterated on. So it's privacy friendly and just a very nice thing to do because again, you are not trusting.

So even if you are opening a channel in a circle where, you know, you don't receive one back, there are no funds at stake. You just open the channels to someone and, you know, the worst case can happen that you don't receive one back.

So, you know, this is a very good community driven way to bootstrap nodes and just get started with running around. You don't need this for like just to pay on lightning, obviously, but this is more like hobbyists who want to play with this and maybe some of them want to aim to position

themselves in this, you know, decentralized payment system somewhere where they can and they are able to provide services and, you know, maybe earn some fees, or some routing fees as well in the future.

We'll see how it plays a play out. - So do you think it services like this and the low fees that's helping grow lightning network liquidity? Or do you just think it's just one of those things that is growing because more eyes are on it?

Or do you have any theory around that if it's growing, it's jumping now? - I mean, you know, it's more easy to use. It is more stable, you don't need to be reckless now. You know, it is like hardly like even like forced closes of channels, you know, are hardly happening now, but as seen like half a year ago,

you could have, you know, a couple every month or like even worse, which is kind of the main cost risk. More people are interested. I think it's just, it really feels like, you know, bootstrapping this network.

And I think a lot of people who have like fun sitting around would want to do something with it and participate. And, you know, the tools are getting major enough for that, for everyone to kind of, you know, do it.

Both from the UX side and the kind of security side of it. So, yeah, it's, you know, it's great to see. And, you know, you have access to services. So on-chain payments, you know, will never be as fast as a lightning payment.

And then you have the other kind of, you know, added services which are available on lightning or with lightning, which needs that kind of network. And then, you know, a lot of people would just want to find out what they are able to do.

And then, you know, from that, a lot of innovation and development is coming also. So more brain power getting onto the network and hopefully they are getting siphoned off from, you know, trying to build a competition to Bitcoin as fan failing, right?

So, you know, oh, shit coiners are welcome. And they can build here as well. Okay. Any other releases you wanted to cover? We've got Bit129, a new multi-sick backup format. What does that change?

Just make it easier or more secure or what's the... This might be the thing which was documented in the non-check release. I'm not sure. Okay. Bitcoin visuals, website showing various Bitcoin-related stats.

Well, what I'm interested in is the Bitcoin KPIs.com/privacy, which is just having all the metrics easily available for... about the coin-join implementations. That's the on-chain metrics I look at, apart from member space, basically.

But yeah, this seems to have a lot of things as well. Excellent. All right, mate. Well, I think we've covered most of the things there. Very, very helpful to have you to lean on for all the things that I don't understand and go above my head.

It's very, very helpful. Thank you. And yeah, next month we'll have Q&A back. But yeah, I really appreciate you stepping in and helping with this. It's really, really helpful, mate. Yeah, great. Thank you.

It's been a pleasure. Always having to talk through these kind of things and, yeah, we'll hope it does this for us, mate. Definitely. All right, well, yeah, we'll speak again soon and take care.

All right, do it the best next year. Cheers, mate.

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