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A wallet containing only public keys or addresses, letting users monitor balances without the ability to spend.
Read full entryRabbit Hole · 40 min
Bitcoin is dead, they said, and a Ponzi scheme, a tulip bubble, rat poison and money for drug dealers and terrorists. Every label, who said it and when, which ones can actually be scored, and what happened next, including the calls that held up and the ones our own side got wrong.
Rabbit Hole · 14 min
On 11 March 2013 a software upgrade split Bitcoin into two chains. Developers, pool operators and exchanges argued it out in a public chat room and put it back together in under eight hours. This is the log, with the timestamps.
Rabbit Hole · 15 min
One key, two doors. How a Taproot output is built, why every one looks the same until it is spent, what Schnorr signatures changed, what Tapscript left open for the future, and what has actually been done with it since 2021, inscriptions included.
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The strongest objections, including where the critics are right.
A Taproot address encodes a tweaked 32-byte public key directly, not a hash. BIP 341 defines the output; the bc1p address encoding is Bech32m from BIP 350.
What was wrong
BIP 44 defines two chains only: 0, the external chain for receiving addresses, and 1, the internal chain for change. The second level is the registered coin type, 0 for Bitcoin and 1 for testnet.
What was wrong
Neither came from an altcoin: Schnorr signatures go back to Claus Schnorr's 1990 patent filing, and Taproot's script trees descend from Bitcoin's own MAST proposals, which BIP 341 lists among the earlier Bitcoin ideas it combines.
What was wrong