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Nikita Zhavoronkov Profile picture
Nikita Zhavoronkov
@nikzh
Jack of all trades @Blockchair
Dec 9, 2021 • 7 tweets • 3 min read
Taproot: the biggest upgrade to Bitcoin… no one needed?

It’s been a month since Taproot was activated on the mainnet. So far the adoption rate is at laughable 0.15% and the total amount locked in P2TR is at whooping 301 BTC (50% of which is controlled by 17 addresses). (1/7) Image How is that possible that the “highly anticipated” Bitcoin upgrade which was advertised as “most significant one in four years”, “unlocking the potential for smart contracts” and “introducing increased privacy” is not used by virtually anyone? The answer is simple… (2/7) Image
Aug 20, 2021 • 7 tweets • 2 min read
A big problem with this piece is that the proposed solution (which is already actively used today) to these “dangers” (implying people can’t correctly decide for themselves) is “Proof of participation”, i.e. the tyranny of developers and “experts”. A small thread (1/7) 🧵 A glaring example is a proposal to govern the block gas limit by the @ETH_EGL project via staking. Obviously, it is better done via a global PoS voting as soon as PoS comes online, but here’s the Ethereum team lead reaction: 🤷‍♂️ (2/7)
Nov 27, 2020 • 35 tweets • 8 min read
My report on the negative impact of Taproot on Bitcoin’s privacy. PDF: github.com/Har01d/talks/r…

tl;dr: Introducing one more common address format (P2TR) will lead to disastrous privacy leaks.

Please help to spread the message to miners. My DM’s are open for questions. (1/35) (2/35)
Jun 8, 2020 • 21 tweets • 4 min read
I have a strong feeling that this is the last time we see Bitcoin’s dominance level above 66%. From this point on it will fall, probably resulting in Bitcoin losing its first place within the next 5 years (long thread, 1/20) There were lots of copycat altcoins in the beginning (Litecoin, Namecoin, Primecoin), but they’ve never been the true competitors to Bitcoin as they didn’t really have any new features people needed. (2/20)