"Being open source means anyone can independently review the code. If it was closed source, nobody could verify the security. I think it's essential for a program of this nature to be open source."
-- Satoshi Nakamoto
"The design supports a tremendous variety of possible transaction types that I designed years ago. Escrow transactions, bonded contracts, third party arbitration, multi-party signature, etc. If #Bitcoin catches on in a big way, these are things we'll want to explore in the future, but they all had to be designed at the beginning to make sure they would be possible later."
-- Satoshi Nakamoto
"In a few decades when the reward gets too small, the transaction fee will become the main compensation for [mining] nodes. I'm sure that in 20 years there will either be very large transaction volume or no volume."
-- Satoshi Nakamoto
"The result is a distributed system with no single point of failure. Users hold the crypto keys to their own money and transact directly with each other, with the help of the P2P network to check for double-spending."
-- Satoshi Nakamoto
Breez SDK - Nodeless (Liquid Implementation)
What Is the Breez SDK?
The Breez SDK provides developers with an end-to-end solution for integrating self-custodial Lightning payments into their apps and services. It eliminates the need for third parties, simplifies the complexities of #Bitcoin and Lightning, and enables seamless onboarding for billions of users to the future of peer-to-peer payments.
To provide the best experience for their end-users, developers can choose between the following implementations:
Breez SDK - Nodeless (Liquid Implementation)
Breez SDK - Native (Greenlight Implementation)
"In this paper, we propose a solution to the double-spending problem using a peer-to-peer distributed timestamp server to generate computational proof of the chronological order of transactions. The system is secure as long as honest nodes collectively control more CPU proof-of-worker than any cooperating group of attacker nodes."
— Satoshi Nakamoto
"Indeed there is nobody to act as central bank or federal reserve to adjust the money supply as the population of users grows. That would have required a trusted party to determine the value, because I don't know a way for software to know the real world value of things."
— Satoshi Nakamoto
"Completely non-reversible transactions are not really possible, since financial institutions cannot avoid mediating disputes. The cost of mediation increases transaction costs, limiting the minimum practical transaction size and cutting off the possibility for small casual transactions, and there is a broader cost in the loss of ability to make non-reversible payments for non-reversible services. With the possibility of reversal, the need for trust spreads."
— Satoshi Nakamoto
Australian court ruling could lead to $640M in #Bitcoin tax refunds
A judge’s ruling in a criminal case may pave the way for $640 million in tax refunds, challenging the Australian Tax Office’s long-held stance on crypto taxation.
https://cointelegraph.com/news/australia-bitcoin-tax-ruling-cgt-refunds
Coinbase Data Breach Will ‘Lead to People Dying,’
TechCrunch Founder Says Michael Arrington argued that executives should be jailed if they don’t “adequately protect” sensitive user data.