The spiritual journey. The hard path. Onboarding merchants to Bitcoin @edenbitcoin_
Montréal, Québec
Joined October 2022
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⚡️ Un autre commerce local rejoint Bitcoin.
Aujourd’hui, un agriculteur a été onboardé sur edenbtc.app et accepte maintenant les paiements en Bitcoin directement dans son portefeuille @BullBitcoin_ 👀
De la vraie nourriture. De la vraie souveraineté. De l’argent pair-à-pair. 🌱
HUGO - EDENBTC.APP 🕊 retweeted
We know many of you are eager to know what will happen to Lightning payments in the BULL wallet, and when you will be able to convert L-BTC to BTC.
The reality is that the Liquid network's situation is completely outside of BULL’s control: we have to wait for the Federation to resume pegouts.
Any service that accepts L-BTC to send out BTC will soon accumulate L-BTC in its inventory, while its BTC inventory is depleted. Under normal circumstances, swap services that accumulate L-BTC use the pegout mechanism to rebalance their inventory. Absent this mechanism, our view is that a swap provider or exchange cannot operate sustainably.
BULL could re-enable inbound Lightning payments, allowing users to start accumulating L-BTC again, which would provide liquidity for those who want to exit L-BTC.
We have decided not to follow this approach for now and will wait for pegouts to resume, because that approach would rely on some users taking the risk of holding L-BTC without compensation or a guarantee that they can exit back to BTC.
For the pegout mechanism to be reactivated in Liquid, two conditions must be met.
First, the software needs to be secure to avoid another exploit that could drain the federation’s remaining ~3,600 BTC. That part is within the control of the federation members and their IT provider, Blockstream. The known vulnerabilities, as far as we know, have been fixed. What is harder is finding any currently unknown vulnerabilities, but this should not prevent the Liquid network from moving forward.
The second and most serious problem is that the total amount of BTC held by the federation must be equal to the total amount of L-BTC in circulation. In other words, the backing of L-BTC by BTC must return to a 1:1 ratio. We are aware of ongoing efforts to 'fill the gap' and at this stage, all we can do is wait for that to happen. Once that is done, BULL will be able to offer a conversion service that allows users to exchange their L-BTC for BTC at a 1:1 exchange rate.
Based on the information we have, our expectation is that Liquid swap and exchange services allowing users to convert their L-BTC to BTC could resume within 30 days. This is an educated guess, not a guarantee.
Looking beyond the current situation, we are also evaluating the best path forward for Lightning payments in the BULL wallet. As part of BULL’s ongoing R&D efforts, our CEO, @francispouliot_ is preparing a presentation examining the tradeoffs of the main alternative payment protocols available to Bitcoin wallets.
The goal is to identify the most robust and sustainable architecture for providing BULL users with the best possible experience going forward.
We would like to thank all our users for their continued patience and understanding. We will share further updates as reliable information becomes available.
Liquid update for BULL Wallet users
The Liquid Network has been resumed, producing blocks and processing transactions again.
However, Swaps from L-BTC to BTC and L-BTC to LN remain unavailable until the 1:1 peg is fully restored and peg-out operations are allowed again.
BULL’s default receiving wallet, aka Secure Bitcoin Wallet, which uses the Bitcoin network for transactions, is unaffected by this incident.
BULL’s instant payments wallets use the Liquid Network. While it is now possible for users to receive payments via Liquid, we strongly discourage them from doing so.
The BULL wallet automatically prevents users from accumulating more than 1,000,000 sats in their wallet via its autoswap feature, which is enabled by default.
While we wait for the Liquid Network peg to return to its full 1:1 reserve, this feature is not functional.
What’s next
We are confident the 1:1 peg will be restored and that no BULL Wallet user will lose funds as a result of this incident. Once full backing and peg operations are restored, you will be able to convert your L-BTC to BTC or to LN as before.
If full backing cannot be restored, we will advocate on behalf of our users for a recovery plan that lets every affected user recover funds proportional to the peg ratio.
BULL’s primary directive is, and always has been, to make Bitcoin a useful, private and censorship resistant means of exchange. Only then can our Mission to Destroy Fiat be realizable.
BULL first integrated Lightning in its exchange in 2018. Since then, we have kept up with all new developments in the space, examined all available alternatives and tradeoffs in depth. We have presented on this topic at technical conferences, and we plan on soon releasing more insights into our approach.
We thank our amazing users for their patience and support.
Despite the difficult cybersecurity incidents of the past few months, we remain dedicated to building infrastructure to make Bitcoin a scalable and usable form of money.
Open source clanker pets in coming?
We have a huge news to share today!
Today we are unveiling the first truly accessible RL robot - welcome Microduck
A 25 cm tiny open-source biped with 15 actuators and packed with sensors (camera, speaker, LiDAR, NFC, bluetooth, wifi, etc) that you train yourself with reinforcement learning.
It's also playable out of the box with more than half a dozen fun and playful pre-trained policies to have it walk, sit, crouch, roller-skate, pick up objects with its articulated beak, and recover on its own.
And all for less than $400.
See all the details, play with the simulator and order it at: pollen-robotics.com/microduc…
(video with sound on 🔊)
HUGO - EDENBTC.APP 🕊 retweeted
Nous sommes bien engagés sur la Route de la Répression financière (article complet ci-dessous).
L’Etat en faillite fera tout pour forcer l'épargne à soutenir sa dette.
La porte de sortie s’appelle "Bitcoin en détention propre": c’est le seul actif qu’ils ne pourront saisir.
On me demande beaucoup ce que je pense du risque d'interdiction des ETF synthétiques dans le PEA.
J'ai regardé nos données ce matin: sur les PEA synchronisés sur Finary, 84% contiennent au moins un ETF synthétique. Parmi ceux qui détiennent un ETF, c'est 97%...
Le message par le gouvernement 7,3 millions de détenteurs de PEA: le système des retraites est au bord du gouffre, mais ceux qui prennent leur épargne en main seront sanctionnés. La preuve avec la hausse prélèvements sociaux passés de 17,2% à 18,6% en janvier, et qui a touché le PEA.
Mais pourquoi ce sujet des ETF synthétiques est-il sans cesse ramené sur le devant de la scène ?
Car il ferait "fuir" les capitaux hors d'Europe à l'heure ou la souveraineté est un enjeu capital.
Pourtant, un ETF synthétique sur PEA détient un panier composé à 75% minimum d'actions européennes. De vraies actions, qui financent des entreprises européennes.
Interdire ces ETF, c'est couper le robinet qui alimente ces paniers, voire forcer leur liquidation. L'Etat organiserait la vente d'actions européennes au nom du financement des entreprises européennes.
Le coût pour l'épargnant est énorme. Entre 2015 et aujourd'hui, et pour 1000€ investis, cela représente un manque à gagner de 70%:
🇺🇸 S&P -> 3550€
🇪🇺 Stoxx 600 -> 2100€
Si cela se fait, l'Etat risque de combler, en aides sociales, le rendement qu'il aura retiré à l'épargne privée. Cela ne fera qu'empirer la situation des finances publiques.
Pendant ce temps, nos voisins encouragent l'investissement en Bourse:
🇬🇧 UK: 20k GBP par an dans l'ISA (équivalent PEA), 0% d'impôts à la sortie
🇸🇪 Suède: 0% d'impôts jusqu'à 27.000€, puis 1,065% forfaitaires
🇩🇪 Allemagne: 26,375% sur les plus-values, 5 points sous notre flat tax
🇳🇱 Pays-Bas: pas d'imposition des plus-values, et forfait sur le patrimoine au-delà de 57.000€
Au-delà de l'Etat, qui va gratter quelques recettes, ce sont les assureurs qui vont y gagner. L'assurance-vie pèse 2.162 milliards d'euros, dont 1.470 milliards en fonds euros, très largement investis en dette d'Etat. Affaiblir le PEA, c'est rapatrier des encours vers le seul produit qui finance le déficit.
Politiquement, cette enveloppe sera très difficile à toucher car les encours sont massivement détenus par les 60 ans et plus, les faiseurs de rois des élections.
Ce ballon d'essai sur les ETF n'est pas nouveau. Vu l'état des finances publiques, il pourrait finir par passer... Nous allons tout faire pour que cela n'arrive mais !
Par contre, on peut compter sur les candidats à la présidentielle pour en proposer d'autres "idées" fiscales encore plus contraignants. Il n'y a qu'à voir le niveau des débats autour de la dette française.
C'est pour ça qu'il faut diversifier ses enveloppes autant que ses actifs afin de se protéger de... l'Etat.
Un PEA, une assurance-vie, un compte-titres. Prendre date sur une AV coûte quelques centaines euros d'aujourd'hui et protège d'une future loi.
HUGO - EDENBTC.APP 🕊 retweeted
Round 2 has begun ⚖️
👇 this was only round 1
HUGO - EDENBTC.APP 🕊 retweeted
We are on the cusp of local Fable
Sovereign AI is happening so much faster than I think anyone predicted…
AI TOKEN WAR
Lowest hanging fruits 🍉
#1 : Bitcoin open source projects
#2 : French gov. infrastructure
Your sign to get off Google
I'm innocent. Case closed. Privacy is not a crime.
@PavelTheCoder @noosphere888x2 @kortik456585 @maxtannahill @e4pool_com @dammkewl @econoalchemist @Diverter_NoKYC @BTCxZelko @RoninDojoNode @aeonBTC @LaurentMT @leamuirleyn
#FreeSamourai #PardonSamourai
HUGO - EDENBTC.APP 🕊 retweeted
It would be great to have more eyes on Wasabi Wallet: github.com/WalletWasabi/Wall…
DM me if you find anything and I can cover your token costs.
So much to learn
So much to build
So much to contribute
This is great
If an entire podcasts miniseries talking jsut about libsecp, check out my podcast with @Fundamentals21m
We were going to do hashing functions next. Given current circumstances I think we're moving to entropy.
magicinternetmath.com/
The Red Team is doing public service
Bitcoin open-source projects are being hardened
Small team of maintainers can’t face swarms of Chinese LLM agents constantly attacking
The idea that the completely organic movement by volunteers from around the world to identify, responsabily disclose and patch security vulnerabilities as a response to the obviously targeting of Bitcoin open-source projects... is some kind of psyops to distract people away from "other things" is completely fucking retarded.
I understand a lot of people are on edge and that skepticism is healthy, but in this case it's totally misplaced.
Ignore those that are trying paint "Bitcoin Red Team" as some sort of psyops. It's not. I have personally received and delivered reports. I have been texting collaborators from many projects non-stop all week. Red Team is both an actual group of people but more importantly it's a mindset shift. I am not part of a "Red Team" official group. We are BULL have our own Red Team and of course we are focused first and foremost on our own stack but being an open-source project with many many different layers are are helping different participants in the ecosystem either because we use their technology, we know them personally or our work is relevant to theirs.
It will likely get worse before it gets better. But it will get better. We have an advantage. Bitcoin open-source project were the low hanging fruit because exploits are easier if you can read the code and the payoff is immediate and liquid.
The Bitcoin ecosystem is getting a painful but major upgrade. The community response has been amazing and I couldn't be more proud.
Yes.
When we learn about Bitcoin, we often think sats are IN wallets, just like dollars are in bank accounts
(Plot twist: neither is true. Banks don’t have our money)
So, how is the UTXO model different?
In fiat:
1. Prove your identity to your bank
2. Hope they authorize the transaction
3. They update their private ledger by debiting your account and crediting someone else’s
In Bitcoin:
1. Control the private key(s) needed to unlock one or more UTXOs
2. Prove it by signing a transaction
3. The Bitcoin network validates it and updates the global ledger—no permission required
⤵️
In fiat: You ask permission to update their private ledger of money backed by the wind
In Bitcoin: You prove authorization to update a transparent global ledger of money backed by energy
We should stop calling them #Bitcoin hardware wallets and start calling them 'signing devices'
This would prevent a lot of confusion
HUGO - EDENBTC.APP 🕊 retweeted
🚨PSA for LND + BTCPay Server users🚨
Don’t assume you’re safe after upgrading.
You’re going to want to explicitly destroy your macaroons and macaroons.db and recreate them fresh. This also applies to auth mechanisms for other LN backends.
Also, if you generated a hot on-chain wallet in BTCPay you want to move those funds.
There is a critical vulnerability being actively exploited on BTCPay Server, which can result in the loss of funds.
Please update your BTCPayServer to 2.4.2 by going to Admin Dashboard -> Server -> Maintenance -> Update & verify the 2.4.2 version string in the footer.
If you are unable to update right away, turn off your BTCPay Server to prevent unauthorized access until you can update.
HUGO - EDENBTC.APP 🕊 retweeted
The macaroons.db and individual macaroons can be found in your LND data folder. Delete them all, then restart the node.
Alternatively, you can run the following to invalidate all previously created macaroons:
lncli changepassword --new_mac_root_key
If auditing, list all macaroons with:
lncli listmacaroonids
Docs here also helpful: docs.lightning.engineering/l…
More context on the attack
🚨PSA for LND + BTCPay Server users🚨
Don’t assume you’re safe after upgrading.
You’re going to want to explicitly destroy your macaroons and macaroons.db and recreate them fresh. This also applies to auth mechanisms for other LN backends.
Also, if you generated a hot on-chain wallet in BTCPay you want to move those funds.
HUGO - EDENBTC.APP 🕊 retweeted
There is a critical vulnerability being actively exploited on BTCPay Server, which can result in the loss of funds.
Please update your BTCPayServer to 2.4.2 by going to Admin Dashboard -> Server -> Maintenance -> Update & verify the 2.4.2 version string in the footer.
If you are unable to update right away, turn off your BTCPay Server to prevent unauthorized access until you can update.