What I suspect is happening with Coinbase (pure speculation, no inside knowledge, just based on knowing how people in their orbit operate) is that somewhere along the line they decided to apply the Lyft/UberX regulatory strategy to digital assets.
The Lyft/UberX regulatory strategy goes something like this: enter a regulated market without permission and build as large a customer base as possible. Treat the customers reasonably well so they're sympathetic when the regulator hammer comes down.
Oct 11, 2022 • 14 tweets • 3 min read
Excited to share "Validity Rollups on Bitcoin", a report I wrote during my participation in @HRF's ZK-Rollup Research Fellowship.
You can find the full report here: bitcoinrollups.org
Regarding terminology: these protocols are often called "zk-rollups". This can be a misnomer, since not all protocols called "zk-rollups" use "zero knowledge" proofs. But they do all use validity proofs! So for the report I used the more accurate term "validity rollup".
May 5, 2022 • 14 tweets • 3 min read
MULTISIG IS AN ATTACK ON BITCOIN
How Bitcoin Developers Snuck In A Change That Threatens Bitcoin Fungibility In The Name Of Security
The first "bitcoin war" was over P2SH, the technique that re-enabled multisig in the bitcoin protocol. However, the war was mainly about a technical disagreement over how to re-enable multisig.
Jul 1, 2021 • 9 tweets • 4 min read
What "serious questions" about Drivechain #BIP300 have gone unanswered? Not necessarily a question for OP, but for anyone.
I think the biggest questions have long been answered. Whether the answers are satisfactory or well-understood is another matter (and given the lingering confusion/concerns about SegWit and Taproot I think we should keep in mind that there will always be stragglers here).
Jun 17, 2021 • 10 tweets • 8 min read
During @TheBitcoinConf in Miami I had the pleasure of hosting the Crosschain Miami meetup, supported by @SovrynBTC and featuring some of the coolest projects building crosschain protocols & applications for bitcoin 🤩
📺 Here is a thread with links to the presentation videos 👇
FIRST PRINCIPLES: BITCOIN AND THE CROSS-CHAIN WORLD
... or subpoenas / other coercion to 15 of 21 well-vetted public actors. Let's see how well that threat model holds up.
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"Europol along with the FBI and the Department of Homeland Security arrested 17 people in as many countries and seized hundreds of Dark Web domains associated with well over a dozen black market websites."
