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Adam Back
@adam3us
, 5 tweets, 4 min read Read on Twitter
sent LBTC balance from liquid-qt wallet blockstream.com/liquid/ to @bitfinex tradeable BTC balance in 2-3mins. (2 confirms are final on liquid network). similar on @TheRockTrading see also @sideshiftai pilot program (beta). reddit discussion thread reddit.com/r/Bitcoin/comm…
the mentioned @bitfinex deposit blockstream.info/liquid/VTq3gNw… because of the Confidential Transactions you can't see the amount, also one of those was not LBTC, you can't tell the types either!
to deposit LBTC go to "deposit" find "Liquid BTC" and copy the deposit address.
then send to your @bitfinex deposit address eg from liquid-qt blockstream.com/liquid/ or another exchange eg @TheRockTrading or from @sideshiftai pilot
then click "wallet" in @bitfinex and convert LBTC to BTC (and chose which account to use it for eg exchange or margin). takes about 2-3mins elapsed as liquid blocks are 1mins and transactions are final within 2 confirms. and ready to trade! vs average 30mins +/- for mainchain.
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Adam Back
@adam3us
@CointractCom @MZietzke two factors for "hashcash extended with inflation control": it was all that could easily fit in a twitter limited text profile at the time by way of explaining the connection; but also it sort of is, not literally obviously, but actually in a longer form explanation as follows:
@CointractCom @MZietzke - From 1997 when hashcash was release almost immediately multiple people made the connection to digital gold, and became fascinated with the prospect of using proof-of-work towards achieving deployable electronic cash using it,
@CointractCom @MZietzke - particularly the utility of being able to mint decentralised coins directly, without needing to go via a bank, nor having some central party print them like fiat was seen as a key step forward.
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Adam Back
@adam3us
@lopp @aantonop adversarial thinking is counter-intuitive to most, and very hard to learn - like chess vs grandmaster: most people will never be able to beat a grandmaster even if they dedicated the rest of life to it. sounds elitist, but it's reality: schneier's law. best can do is seek review.
@lopp @aantonop and bitcoin has multiple traps with counter-intuitive security assumptions: applied crypto, p2p network protocol system-level effects, mining strategy game-theory, byzantine agreement protocol, code host security, even monetary economic theory. humility and peer review essential.
@lopp @aantonop "the first thing you have to ask is, `Who the hell are you?' Show me what you've broken to demonstrate that your assertion of the system's security means something." -@schneierblog schneier.com/blog/archives/… insist on extensive peer review by experts don't take unqualified assertion
Read 8 tweets
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Adam Back
@adam3us
many scientists look to explain technology at varying levels of detail to make tech understandable. some cranks try to do the reverse: lots of terminology to try sound convincing and smart to lay audience. it in no way fools scientists, but then it's not designed to.
your litmus test is if an actual expert listening pulls grimace and walks out. people doing this kind of thing, are social engineers: they can be clever at manipulating scenarios, eg a common technique is to discourage tech audience attending: enough technobabble in invitation...
like pyramid scheme pitches, onecoin etc. put illogical to professional investor material in the invite, so they do not come and then ask difficult questions under protest at the nonsense they are hearing. tone, posture is more important than content. it's not for a tech audience
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