Hello Humble Bitcoiners!
It is incredible to see big stocks such as Facebook and Google take a beatdown while bitcoin rips.
But let's focus on the long term and get on with the signal! |
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📝 Today's Rundown - ⚡ Lightning Accelerator: NYC-based Bitcoin Lightning Network accelerator launches to empower those building and advancing the layer two protocol with a world class program.
- 🪲 The LND Bug: A bug resulting in the stalling of LND and btcd nodes had minimal impact — but it could have been much worse.
- 🔮 An Optimistic Future: Bitcoin is a beacon of hope in a world of uncertainty and despair. By having a monetary constant, people can focus on things that really matter.
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| Minerbase is the patent product of cMotion, providing cost-effective data center deployment solutions. Currently Minerbase has A, L and T series that stand for air cooling, immersion liquid cooling and thermal recovery. The cMotion team can help customize mining containers based on your specific needs. |
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NYDIG Parent Company Stone Ridge Launches Wolf, A Bitcoin Lightning Network Accelerator
By Shawn Amick $4 billion asset manager Stone Ridge Holdings Group, parent company of NYDIG, has launched Wolf's Clothing, a New York City based Bitcoin startup dedicated to advancing the Lightning Network.
Wolf's Clothing aims to bring founders and startups from all over the world to NYC for eight weeks at a time to focus on development, growth and funding of companies building on Lightning.
As the Lightning Network hits critical mass, and rapid growth is being seen, a new wave of entrepreneurs coming along with it is also to be expected. This is why Wolf's Clothing wants to get involved and help push technological breakthroughs. |
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Learning From The LND Bug That Could Have Robbed The Lightning Network
By Shinobi A serious bug on the Lightning Network Daemon (LND) put a massive percentage of the bitcoin on the Lightning Network at risk of theft. Only tech savvy node operators could have manually patched and updated their nodes or personally monitor their channels to avoid the theft. Unfortunately, the vast majority of LND node operators would probably not have been able to do so.
To exploit the bug, an attacker could have very easily opened a large number of channels on the network and swapped all of the money in those channels back to themselves on-chain through a submarine swap, leaving all of the funds in the channel on the other side, and then submitted a large Taproot transaction, immediately closing out their channels using an outdated state.
This bug taught us two great lessons. Firstly, multiple independent implementations of Bitcoin nodes can be very dangerous. Second, in the case of second layers above the main network, implementations of consensus checks should be done very carefully. |
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1. Have you gone down the Bitcoin rabbit hole and now want to upgrade your privacy and security? Here’s how and where to buy BTC with no verification. 2. Bitcoin acts as better money for everyone — especially the unbanked — because it responds only to free market forces. 3. Miners face an absolute bloodbath in their attempts to acquire bitcoin profitably as hash rate and electricity costs continue to rise while prices remain low. 4. A sect of Bitcoin Maximalists known as Bitcoin Fundamentalists are taking over the movement. But is this fundamentalism a threat to Bitcoin or its greatest ally? 5. While Taro is certainly useful, it might not be the total answer to scaling that proponents are describing it as. 6. In an article on Bitcoin discourse, the technology is far too generalized and its merits and users are discounted. 7. The people who are either building businesses, investing or learning about Bitcoin are the people who are going to be most successful in the coming cycle. |
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Finding A More Optimistic Future With Bitcoin
By Leon Wankum To build a better future, we need to look back to the past and learn from it.
Inflation has been a human problem for centuries. A tragic historical example is the hyperinflation in the Weimar Republic, the government of Germany from 1918 to 1933.
In order to stimulate the economy and pay the reparation debts of World War 1, the German national bank printed vast amounts of money. As a consequence, their money was devalued massively, people lost all their savings and the country went into an economic crisis — Germans went into despair and frustration took over. Ultimately, inequality led to a rise in populism and the false promises of Hitler ended up shaping history.
Monetary inflation leads to societal decay while sound money leads to prosperity and societal growth in every aspect, including mental health. |
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Bitcoin is the natural evolution of money — a bearer asset that one can solely hold, and transact, without having someone else as an intermediary.
Stack harder,
Bam |
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Today's email was brought to you with ♥ by Bam.
Keep on reading, keep on stacking. |
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