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Sometimes when folks call me mean names on social media I wonder:
* What do they expect it to accomplish?
* Do they realize I've literally had guns pointed at me as a result of social media antics?
* Do they have any clue how amusing I find ad hominems to be?
Lots of folks are upset about ordinals because they can't understand how a market exists for them.
Truly I tell you, the same view is held by nocoiners about bitcoin.
Markets don't require your understanding in order to operate.
I'm not a fan of passphrases because they result in a brittle 2-of-2 setup. If you lose either the seed phrase or the password, you lose access to your funds.
Should be the same as mainnet, you just have to set your node's to use the testnet network in their configs.
The trickier part would be finding lightweight lightning wallets that support testnet.
I'd love to get a nice airdrop, but I doubt there's enough value available to be extracted from the ordinals side of a fork.
Should probably start with a futures market to test the waters of this theory.
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Yes, both backups are brittle.
In my experience, people tend to
A) Create incredibly complex passphrases
B) Not back them up because they created the passphrase in their head
Also, I think folks fool themselves about the utility of durress wallets.
In general, I like seedxor more because you KNOW it's getting backed up AND the backups have plausible deniability.
Mainly that duress wallets are speculative.
1. You're speculating about the attacker's knowledge and motivation. For example, there was a physical attack recently in which the victim gave up their wallet pretty quickly, but the attacker kept torturing them for hours in case they were holding out.
2. You're speculating about how you'd act in a high stakes stressful situation.
In my experience the total addressable market for node devices is 5K-10K and many folks who buy them actually buy every company's device just to try it out.
And a ton of folks who buy them never even set them up.
I suspect Craig Wright will disappear within a few years. The only question is if he disappears of his own volition or if he gets disappeared by Calvin Ayre.
Over the course of 2023:
Reachable Bitcoin nodes are up 16% to 16,837
Reachable Ethereum nodes are down 25% to 7,483
Reachable Bitcoin Cash nodes are down 28% to 645
Reachable Zcash nodes are down 48% to 4,175
Notes by Jameson Lopp | export