Anyone else excited for Taproot?

Anyone else excited for Taproot?

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nope

taproot?
youtu.be/zjPrxWRP5OM?t=46

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Don't tell stinky linkies about this. Delete thread.

it too late fren.
they're right behind me.

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No, blockstream broke BTC. We are awake now.

You're not an engineer though why would your input matter?

Because OP asked. Also I am an engineer, but I agree that doesn't matter.

If you think blockstream broke bitcoin you're not a good engineer.

Apologies, let me defer to authorities on the topic! Please tell me what to think

yep well not excited but anticipating

this. bitcoin scales exponentially not linearly as the techno barbarian cashies tried to force it. anyone with iq above 100 understands why this is a good thing.

Bitcoin already scales "exponentially" (log-time validation). Indeed cashies broke it, but a certain other fork remains high scalable...

Stinky linkies are going to get completely fucked by dlc oracles. Who would you rather trust to settle your smart contract, a huge multisig quorum of highly reputable businesses that you can produce a fraud proof against if they lie, or an anonymous group of neets that are probably all the same entity funded by link tokens printed out of thin air by sergey?

nah, curry cashies are the worst order of cashies shoo shoo and you idiotic preconsensus is retarded.
think about it for a bit if 0-conf was actually secure we wouldn't even need a blockchain for consensus.

80/20 rule except 99/1
If you're spending more than a few cents just wait for a confirmation like you have to on brokencoin anyway
>if your spending more than a few cents
this triggers the corecuck
Also great distraction from the key point, both btc and bch broke the log time validation properties of bitcoin

you don't have to wait for confirmation on ln either. it's just better smarter faster and trustless.

Taproot introduces schnorr signatures which unlock discreet log contracts on lightning network.
This is also bullish because the miners don't have the power to dick around this time.

This layering of tech is so bad it makes you wonder if it isn't deliberate sabotage. Almost like someone wants to lose the chain of signatures.

Taproot is bad but in a "not the right approach" bad. Lightning network is simply pure garbage.

It's all tied to multisig addresses on the mainchain of the most secure network in the history of mankind.

>Also great distraction from the key point, both btc and bch broke the log time validation properties of bitcoin
no such thing and never was. also rbf is opt-in you are not forced to use it. anyone is free to accept a non-rbf transaction 0-conf if he doesn't like his money. i have done double spends way before rbf was implemented it required some convincing of the client to let go of the old transaction but it only took a few seconds by hand. with script you could release the doubles spend in china via a proxy at the exact same time you pay in a local shot.

The day scaling was solved.

Imagine thinking that just increasing the block size and ignoring the problem is "tech"
Try and build an internet out of broadcast hubs. Traffic is unmanageable after just a few devices which is why we have switches and routers to segment traffic to the relevant parts of the network.

Lightning network is the most transparent and fluid layer 2 out on any blockchain.
They have several different interoperable implementations.

taproot is a capability multiplier for bitcoin layer 1 and 2. simple as that makes it possible to have actual deterministic complex even semi turing complete smart contracts to execute with minimal on-chain burden. it also allows for contract templates (which can be audited and reused), it also allows for trustless non-custodial liquidity pools basically more capable sidechains than ln.
it obviously is built on top of segwit which is based on p2sh. these were the greatest innovations on bitcoin protocol since the first release. ironically cashies never got them.

Lightning network is about to go completely dark with taproot. Nobody will even know how much corn is on there because channels will look like single sig. This is so fucking bullish it is unbelievable but nobody even cares because they are too busy distracted with shitcoins

that's not exactly how it works or what's the big deal about it but good to see some people are bullish. yes it will blow lightning up but not because you can't audit the perimeter but because less liquidity has to be tied up in a more capable multipath channel and because liquidity pools will not require trust or custody after taproot which eliminates the final foothold of traditional banking.

>Nobody will even know how much corn is on there because channels will look like single sig.
Oh yeh this is a big upgrade.
I meant transparent in that the code is open and reviewable, the BOLT protocol was openly discussed, I've been on the mailing list and they're all very helpful and engaging with the community.
That user saying it's a blockstream conspiracy is retarded.

Also I have some complicated multisigs that even 1-2 sat/byte still came out to like $7 transaction fees, so this upgrade is huge for distributing risk in a efficient manner.

Cashies are the dumbest fuckers on the planet, they added pieter wuilles original rough draft schnor code and brag that they got it first. Meanwhile they have zero applications because a signature by itself is pointless, you need a framework to actually use them in to get the benefits, plus the code has iterated so many times and they have this old version literally copied from core. Also if they want actual taproot benefits they have to completely redesign but won't because they are so incompetent and they doubtful can figure out how to do it without using segwit

the other big and little talked about thing about merkle tree hash signature schemes which at the heart taproot is is quantum resistance.

Not only that but exchanges like bitmex that use a ton of huge multisig can become extremely efficient on chain now. Its so obvious that if you just bump the blocks up the second there is pressure, then you never encourage anybody to use more efficient habits. Basically you let peoples laziness dictate the protocol instead of an immutable protocol forcing people to adapt to it

also you can do taproot without segwit albeit it's more wasteful but you can't do it without p2sh. and cashies don't even like p2sh for some reason atho it was the single thing that changed bitcoin the most and blew up it's potential to the sky. it did not really change it's basic principles it changed the concern for how to spend an utxo to the receiver from the sender.

Transaction amounts aren’t hidden meaning it’s still very much traceable and multisig is not userfriendly. At best this is a bandaid that nobody will adopt. It also likely won’t solve any of the other lightning security issues.

How does it not go dark? Isn't the locked in lightning number determined just by combing the chain for 2 of 2s and assuming its a lightning channel? That doesn't work anymore for taproot because everything looks single sig

lightnings security issues are indeed not fixable by taproot but they don't really exist for those that pay hubs and the businesses that accept payment have some risk but nothing crazy professional infrastructure can't handle. in the meantime watchtower services will greatly mitigate the risk of business for accepting ln transactions.

I can open a lightning channel and you won't ever know I have one, then I can make thousands of payments. I don't even need to ever close it again, and even if I do it still just looks like single sig self transfer. PTLCs break the ability for malicious lightning nodes to detect your exact payment as well because they don't share the same hash anymore. Bitcoin privacy is not perfect but this is a huge step and will be combined with other techniques in the future to be even better

>and cashies don't even like p2sh for some reason atho it was the single thing that changed bitcoin the most and blew up it's potential to the sky.
What kind of person do you have to be to cripple the native L1 script and then introduce p2sh as a "solution". Christ

no all taproot does at it's heart is it only reveals the branch of the smart contract that actually is executed. this allows for fuckhuge and fuck complex smart contracts. it reveals a path on a decision tree leaving out the other details.

Yeah but a self transfer 1 of 1 script will look the same as a 2 of 2 lightning channel script because of schnor which breaks the heuristic for what is and isn't lightning on chain