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“hardware wallet” · 2 mentions
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15:25
01:08:49
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01:03:56
token is a store value what what other
01:03:59
things can you do whether and the the
01:04:03
final thing on Bitcoin here on the the
01:04:05
etherium like being more secure
01:04:07
who do you think has a more diverse
01:04:08
mining ecosystem people that mine on
01:04:11
GPUs are people who sent money to Jihan
01:04:15
who's your option already I think
01:04:21
they're like 40% and they're also
01:04:23
they're also I might add getting rid of
01:04:25
them they're improved they're
01:04:27
introducing a proof-of-work change to
01:04:29
prague pal PR o GP o w so that those a
01:04:32
sigle break let me know when Bitcoin
01:04:35
rolls in a proof-of-work change to get
01:04:37
rid of jihun but it's okay ji ji hyung
01:04:39
got rid of himself he's no longer see of
01:04:42
the happening he found that because he
01:04:43
got [ __ ] rekt because he tried to
01:04:45
destroy real Bitcoin by making fit fake
01:04:48
[ __ ] Bitcoin and buying a giant bag
01:04:50
of it his company owns over a million
01:04:51
coins all right and if you notice the
01:04:54
supply of Bitcoin cash is a lot higher
01:04:56
even though they flopped at the same
01:04:58
block number isn't that interesting
01:04:59
right yeah it is where'd all those extra
01:05:02
coins go
01:05:02
Oh to the miners oh yeah yeah so you
01:05:06
know why because the difficulty went so
01:05:08
low that that this guy is the big miners
01:05:10
reminding like 40 blocks an hour for
01:05:12
every Hetty's they had the emergency
01:05:14
difficulty adjustment that through its
01:05:16
isolation allowed you to yes Bitcoin hex
01:05:21
is launching on the most possible secure
01:05:24
blockchain that exists that it can
01:05:26
possibly work with it's better than
01:05:28
launching my own chain it's better than
01:05:30
running a counterparty it's better than
01:05:31
being on master coin if that even still
01:05:33
exists it's better than being on RSK
01:05:37
which has a 20% [ __ ] founders tax on
01:05:40
every block until like maybe five or ten
01:05:42
years later when they have a 10% tax
01:05:45
right it's better than all those things
01:05:48
right it's easier to audit it's easier
01:05:50
to integrate it's easier to maintain
01:05:52
trust lessness because the smart
01:05:54
contracts just sits there no one can
01:05:55
ever edit it ever so there ain't no
01:05:58
question about should we increase the
01:06:01
this that or the other well let's have a
01:06:04
vote on it
01:06:04
there ain't no voting [ __ ] contracts
01:06:06
sitting there that's it right never
01:06:07
changing no no double-clicking exas the
01:06:10
contract is there the game theory is
01:06:12
they're getting changing it has a more
01:06:15
diverse ecosystem miners you have less
01:06:17
Fork [ __ ] you have less controversy
01:06:19
you have less fake copies being started
01:06:22
trying to steal the [ __ ] with the same
01:06:23
brand right how it like I'm starting a
01:06:27
Bitcoin copy too
01:06:28
there's less ethereum copies okay okay
01:06:33
let me let me let me let me ask some
01:06:35
questions too because I don't know what
01:06:37
Bitcoin hex is for the memory so let's
01:06:39
walk through it and then we can write
01:06:41
about it so okay so as far as I
01:06:44
understand I have some Bitcoin so if I
01:06:46
want to claim my Bitcoin hex I have to I
01:06:48
could open up my Bitcoin node and then I
01:06:50
sign a transaction with a special string
01:06:52
that says I am NOT even bid go ahead and
01:06:56
I put the address on it no no okay okay
01:07:00
so the most sacred and secretive thing
01:07:05
that you ever have to protect and your
01:07:07
crypto life is your private keys and
01:07:09
people [ __ ] this up all the time what
01:07:12
Bitcoin cash came out and offered you
01:07:14
some free coins they uploaded a
wallet
01:07:16
called electrum cash a fork of electrum
01:07:19
written by an anonymous guy and nobody
01:07:21
knew who the [ __ ] he was and that
01:07:23
anonymous guy could have edited that
01:07:25
file before he compiled it he could have
01:07:27
change the code to say send all these
01:07:29
dumbasses private keys to me and then
01:07:32
compiled the code and sent the Exe out
01:07:34
and what I got hosted on the Wix website
01:07:36
the Roger and homeboys put up okay -
01:07:39
yeah to launch their fork which is still
01:07:42
in the top [ __ ] 5 right and and
01:07:48
people run the exe and they put their
01:07:51
keys in there and magically luckily they
01:07:53
don't get the living [ __ ] robbed out of
01:07:55
them you guys need to stop doing that
01:07:57
[ __ ] right so Bitcoin hacks doesn't want
01:07:59
you to send a transaction anywhere we
01:08:03
don't want you to send a Bitcoin
01:08:07
somewhere all you need to do is use a
01:08:10
feature that's built into any
wallet
01:08:12
that you use that's good
01:08:14
any Bitcoin
wallet
that is good as a
01:08:16
feature called
01:08:17
sign signature okay so when you have a
01:08:20
Bitcoin address you can send you can
01:08:23
receive and there's this other cool
01:08:24
third feature that's been there forever
01:08:26
called
01:08:27
sign statement make a signature okay so
01:08:32
all you do is you write claim to your
01:08:37
Bitcoin hex address which is just on
01:08:39
aetherium address
01:08:40
which you get when you install this
01:08:42
metamath browser extension or you could
01:08:46
just have your own [ __ ] aetherium
01:08:47
address however you have it maybe you
01:08:49
have a
hardware
wallet
I don't care how
01:08:50
you get your theorum address right I
01:08:52
prefer to call it a bhx address because
01:08:54
I prefer to capture all the value myself
01:08:55
then give it to the commoditized
01:08:57
substrate right UPS makes money the
01:09:01
roads don't make as much money as UPS
01:09:03
cisco makes routers they don't make much
01:09:05
as much money as Amazon the value gets
01:09:07
captured at higher levels of the value
01:09:09
chain the longer the system has been in
01:09:11
existence because the lower levels get
01:09:13
commoditized I'm more than happy to see
01:09:14
aetherium transactions be very cheap I'm
01:09:16
more than happy to see all the other
01:09:18
daps fail I'm more than happy to see
01:09:20
eath price go so low that people have to
01:09:22
accept Bitcoin hacks is payment for
01:09:24
mining that's fine for me the codes
01:09:26
already there you want accept any RC 20
01:09:28
to pay for mining to get your
01:09:30
transaction into a block it's their cool
01:09:31
right so I don't like calling the bhx
01:09:35
address and aetherium address but
01:09:37
unfortunately it is so you just sign a
01:09:41
statement your Bitcoin
wallet
that says
01:09:42
claim to your theorem address and that's
01:09:47
it that's all the text yeah now you
01:09:50
could [ __ ] yourself if you copied over
01:09:52
some really advanced text that actually
01:09:54
was some giant long like actually I'm
01:09:57
sending a Bitcoin right so there's a
01:09:59
warning and next to it it says don't
01:10:01
sign any [ __ ] that seems weird it's like
01:10:03
sign things that are short and sensible
01:10:06
right so claim to your theorem address
01:10:08
ain't no way you can get hacked on that
01:10:10
[ __ ] you don't have to send your
01:10:11
transaction anywhere you know you never
01:10:13
have to move your bitcoins now so what
01:10:16
have you done you've proved that you the
01:10:19
message signer owns some Bitcoin and an
01:10:21
address
01:10:22
you choose which address you signed from
01:10:24
write it for this system you need to
01:10:26
make a signature from every address you
01:10:28
want to claim from if you have a lot of
01:10:30
addresses you're going to be signing a
01:10:31
lot of signatures you can click Andres a
01:10:33
lot right or you could just send all
01:10:35
your money to one
wallet
and just do it
01:10:37
once right so now you've got to tell the
01:10:42
smart contract the checks that you had
01:10:44
Bitcoin and knows were to give it
01:10:46
because you told it hey I had Bitcoin
01:10:48
and here's my address send it there
01:10:50
someone has to get that into that smart
01:10:53
contract to do the processing
01:10:54
your money right so we built the system
01:10:57
so that anyone could pay your
01:10:58
transaction fee because I'm not trying
01:11:00
to pump user price
01:11:01
I don't want East price to go up I don't
01:11:02
want Bitcoin users to have to buy
01:11:04
aetherium ever right so if someone else
01:11:06
wants to pay your fee to in gas which is
01:11:10
aetherium to submit your transaction
01:11:13
which is in between 3 and 30 cents
01:11:14
depending on you know the day and the
01:11:17
busyness or it could be zero cents if
01:11:19
you're willing to wait a while anyone
01:11:20
can pay that for you so is a claimant
01:11:23
you should be able to just go in your
01:11:24
Bitcoin
wallet
01:11:25
paste your aetherium address click sign
01:11:27
click copy click paste into the Bitcoin
01:11:30
X website with a meta mass extension and
01:11:32
then someone will pay your fee for you
01:11:34
because lucky you and then your you'll
01:11:37
be credited and that's it so it's
01:11:39
trustless it's verifiable there ain't no
01:11:42
hidden inflation everything from here
01:11:45
was the UT Exocet that we copied at this
01:11:47
block height here the [ __ ] we
01:11:49
removed and Y here are the people that
01:11:51
were Wales that got reduced by 75% for
01:11:54
having over 10,000 coins by 50% for
01:11:57
having over a thousand coins alright so
01:11:59
those those have to be manually
01:12:01
processed so the reduction in claims for
01:12:04
being a whale and the reduction it's
01:12:07
called the silly whale penalty because
01:12:08
you could avoid it you could just split
01:12:09
your
wallet
into
wallet
s under a
01:12:11
thousand and you wouldn't apply to you
01:12:13
but if you have been listening to me for
01:12:14
the last however many months I've been
01:12:15
preaching this and you come to go get
01:12:17
rich on my project at the last moment
01:12:20
[ __ ] you you should have been here
01:12:22
earlier with everyone else right or
01:12:24
helping me build it but where were you
01:12:25
so now you can get rekt so if you're
01:12:30
smart will you shard your
wallet
s in the
01:12:31
less than a thousand and they have to
01:12:33
start with a 1 or a B C 1 so address is
01:12:37
a start with 3 we can't do any
01:12:39
programming logic and a serum with its
01:12:41
sum it's the blocks the etherium network
01:12:44
isn't strong enough to process Bitcoin
01:12:46
script and any Bitcoin addresses starts
01:12:48
with a 3 use a script multi-sig
01:12:51
compatibility mode segue so we can
01:12:54
process addresses to start with 1 normal
01:12:56
addresses paid a script hash paid a
01:12:58
public key hash I'm sorry paid a public
01:13:00
key hash or paid a public key we can do
01:13:02
this addresses start with one or if
01:13:05
yours is the newest best one which is
01:13:07
pure seg wit which isn't
01:13:08
compatibility mode you can do that
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