Be The First To Read What The Experts Are Saying About Bitcoin

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<br> Bitcoin mines cash in on electricity – by devouring it, selling it, even turning it off – and they cause immense pollution. Even if they don’t see general adoption, their privacy advantage means they could end up well deployed among niche users. By the end of the year 2021, bitcoin miners will have “completely” taken over the more distant regions of Kazakhstan. 2. Fast Crypto Transaction compared to previous year. Start your Binance crypto journey with Binance Academy. But the issue is that since this is automated, actually in implementations, it’s already decided from the start what fee you’re going to accept and what fee you’re going to reject, so this negotiation was not actually very useful, and it created a lot of issues between those that couldn’t agree on fees. Nothing is latency sensitive here, so this really isn’t an issue. So, this is basically a channel that cannot be used any more, there’s nothing urgent to do on it apart from closing, so having even a few more round trips is just not at all an issue<br>p>
You need to be concerned about law enforcement tracking what you’re doing, government agencies reviewing your financial transactions, and even nefarious agents online who are looking to take your Bitcoin digitally or physically. Bastien Teinturier: Yeah, even though this creates also potential issues, because the commitment transaction right now, the fees are paid by the channel initiator. But if you play that game, the channel initiator will just blacklist you and you have to come up with a new node ID if you want to have channels with them, because force closing on someone is just, yeah, not a gentleman’s agreement. Bastien Teinturier: Yeah, sure. Bastien Teinturier: No, I don’t think so. Bastien Teinturier: Exactly. And on top of that, if you have both prepared two transactions, published them, they’re not confirming, at any point in time, you can just resend that message that says, “I’m ready to pay th<br>e<br>ow.
Bastien Teinturier: Hi, I’m Bastian. So, if I’m the initiator and I want to close the channel, I’m going to say, “I’m closing that channel with that fee that is taken from my output. Rusty’s proposal was that instead of creating one transaction and trying to negotiate the fees on it, we would actually create two transactions, one for the channel initiator, one for the non-channel initiator, where each one decides how much fees they’re ready to pay and what fees are taken from their output. So in the end, you have two transactions that are negotiated with just one request and response, one where the initiator is paying the fee, one where the non-initiator is paying the fee, and each of them chose the fee they are ready to pay. So, we really need the protocol to be request response, where we can always have an opportunity to share nonces before we actually sign<br> <br>nsaction.
Mike Schmidt: Okay, so each side gets a chance to propose and while you’re doing that communication, you’re also taking advantage of that interactivity point to also exchange nonces? Mike Schmidt: You mentioned in your outline of the current way that closing is done that there was a tweak to make it down to one-and-a-half rounds of exchange, I believe. Mike Schmidt: Well, it’s great to have some Lightning expertise for this newsletter, that’s for sure. And since this is request response as well, this makes it easy to share nonces for MuSig to taproot funding outputs. I’m at Spiral and I do open-source stuff as well, focusing on mempool as well as some Lightning work. So initially, the first version of Lightning had a protocol for mutual closing channels that is still heavily in use, where we thought that having dynamic negotiation of a fee was such a go<br>oint good idea.

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