makeasnek

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It's a self-custody wallet and open source. It's regular main-chain BTC but it does automatic address rotation. Unfortunately it doesn't support lightning, which is where the majority of Bitcoin transactions occur. Lightning offers significantly increased privacy, sub-second transactions and fees measuring in pennies.

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makeasnek @lemmy.ml 2y ago

Am I missing something? "Like all our services, Proton Wallet is open source so all of our security claims can be checked by the public to enhance security. We have also published the Proton Wallet security model so you can understand how Proton Wallet protects both privacy and security."

makeasnek @lemmy.ml 2y ago

They aren't an intermediary. It's a fully self-custody wallet.

makeasnek @lemmy.ml 2y ago

It's a self-custody wallet, they do not control the keys.

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makeasnek @lemmy.ml 2y ago

Doesn't answer your question directly, but nostr is working on this. Nostr is an open protocol like ActivityPub (which underlies Mastodon and Lemmy). Its main use is as a twitter clone right now, but it also has a very new reddit clone and can theoretically support videos as well. And you can choose your own algorithm. Here's all the choices I get from one of their clients, and there's dozens of nostr clients to choose from. The cool thing is that anybody can make and publish an algorithm and you can subscribe to any algorithm. Your client does all the sorting locally.

makeasnek @lemmy.ml 2y ago

Personally very glad to see them roll out this feature. Bitcoin offers pretty decent privacy out of the box, especially with lightning. Like using any technology, using it in a fully private and anonymous way requires some attention to detail. The ability to send/receive BTC from other users knowing only their e-mail address is pretty cool. And the self-custody element is critical.

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makeasnek @lemmy.ml 2y ago

This is not accurate. Monero offers a very high degree of privacy and anonymity. So does Bitcoin lightning, to a lesser degree. Lightning transactions don't go on chain and are known only to: sender, recipient, and intermediate nodes, if any.

makeasnek @lemmy.ml 2y ago

Fixed

makeasnek @lemmy.ml 2y ago

Anyone can view your transaction history if they know your wallet address

Not true with lightning. Lighting transactions are known only to the sender, recipient, and any intermediary routing nodes, not the entire world. Even on main chain, You can make as many addresses as you want and achieve significant privacy/anonymity using techniques like coinjoin.

Also, it’s not true that it hasn’t seen downtime. It has happened at least once in its early days due to a bug.

Maybe in the first year or two of operation, but it's been more stable than my bank, my internet connection, or the credit card processors, all of whom have had major outages since then. Which is 10+ years.

Also, there has been many times where it taken more than an hour between blocks. This is more to its probabilistic nature.

Two hours but 99% of the time the next block comes in 10 minutes. Still faster and cheaper than a bank wire or other common payment scenarios. Lightning wouldn't be effected by this. This happens less often as the network grows and stability of hashpower increases. If you need speed, you use lightning, not main chain.

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makeasnek @lemmy.ml 2y ago

We beat it last time.

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makeasnek @lemmy.ml 2y ago

Lightning scales very well. Your information is outdated. A single bitcoin transaction can open a lightning channel. You can have trillions of transactions in a lightning channel between you and anybody else with a lightning wallet. All settle instantly for pennies in fees. They literally happen in under a second. In the last two months, Nostr users alone (decentralized twitter clone like Mastodon) sent each other 2.6 million tips (individual transactions) over Bitcoin lightning. Lightning is decentralized and trustless, just like Bitcoin.

No matter how you slice it: market cap, number of nodes, number of transactions, value of transactions, etc. Bitcoin is on a 15-year trend of growth on average.

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makeasnek @lemmy.ml 2y ago

Chat control was beat. This can be too. Contact your MEP, let them know this issue is important to you: https://www.europarl.europa.eu/meps/en/home

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makeasnek @lemmy.ml 2y ago

Chat control was beat. This can be too. Contact your MEP, let them know this issue is important to you: https://www.europarl.europa.eu/meps/en/home

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makeasnek @lemmy.ml 2y ago

Bitcoin doesn't give AF. It's your fucking money. Send it where you want. Bitcoin won't stop you. And nobody can make it. 15 years without a single hour of downtime or any government being able to control it.

I am not encouraging you to break the law. Don't break the law.

makeasnek @lemmy.ml 2y ago

Crypto won’t scale

And yet every year, for 15 years, the transaction capacity has continued to increase. Networking protocols (TCP/IP, SMTP, etc) also didn't scale to "internet scale" in the first 15 years. They just kept adding new layers to the stack and optimizing it until it did. Just like Bitcoin added Lightning, Taproot, etc to improve scaling.

In the last two months, Nostr users alone (decentralized twitter clone like Mastodon) sent each other 2.6 million tips (individual transactions) over Bitcoin lightning. None of that requires an on-chain transaction, none of it required high fees. It works. It scales. It continues to improve. Lightning has capacity for trillions more transactions because capacity is not tied to chain space.

Also bitcoin isn’t even private and you are basically shouting to the world every time you make a payment.

Bitcoin is pseudonymous. If you make a wallet, nobody knows you own that wallet unless you tell them (or a third party like an exchange), but the balance and transactions on-chain are visible. There are ways to make your transactions more private, like coinjoin, you can have multiple addresses with multiple coins.

With lightning, transactions are opaque except to you and any nodes you route through, because lightning transactions don't go on chain. This also means nobody knows your current balance. If you make a transaction between two lightning nodes that share a channel, nobody knows that transaction was made outside of those two nodes. Privacy continues to improve, see BOLT 12 for the latest upgrades in this area.

makeasnek @lemmy.ml 2y ago

At a high demand time, it could take hours to complete a transaction (if it even went through at all) and with an outrageous fee up to dozens of dollars.

Bitcoin has never been known for time efficient nor competitive fees (except for maybe in the beginning when nobody uses it).

At least you admit people use it. Bitcoin lightning enables transactions in under a second for pennies in fees, it's been around for 5+ years. Your information is outdated. In the last two months, Nostr users alone (decentralized twitter clone like Mastodon) sent each other 2.6 million tips (individual transactions) over Bitcoin lightning. None of that requires an on-chain transaction, none of it required high fees. It works. It scales. It continues to improve.