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McCoy
McCoy@primal.net
npub18y33...x5t7
Bitcoin NOSTR block 768722
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McCoy 3 days ago
Best money wins There will be a winner Now is the time to lay your bets Fiat based investiments are the ponzi
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McCoy 3 days ago
F-the 58k gang, bottom is in
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McCoy 3 days ago
Maple AI: zcash.... This is one of Zcash's core tensions: **the same cryptography that hides transaction amounts also makes it impossible to directly audit balances inside shielded pools.** Here's how verification works—and where its limits are: ## How Supply Is Verified: The Turnstile Zcash uses **turnstile accounting** across its value pools (Transparent, Sprout, Sapling, Orchard, and Lockbox). The idea is simple: - **Entry is visible:** All ZEC enters the shielded pools from transparent addresses or mining rewards (public amounts) - **Exit is visible:** When ZEC leaves a shielded pool for a transparent address, the amount is revealed - **The turnstile calculates:** Expected pool balance = (total in) − (total out) Anyone running a Zcash node can check this via `getblockchaininfo` (look for the `valuePools` field). Third-party sites like **zcha.in** also monitor these balances. ## The Catch: Hidden Intermediate States The turnstile only verifies **net flows** across pool boundaries. **Inside** a shielded pool, transactions are hidden by zk-SNARKs. This means: - ✅ You can verify the *total* supply isn't inflated (no extra ZEC entered the system) - ❌ You **cannot cryptographically prove** that coins *inside* the pool weren't counterfeited via a circuit bug ## Real-World Example: The June 2026 Orchard Bug This limitation just made headlines. A soundness bug was found in the Orchard shielded pool circuit (discovered late May, patched June 2–3, 2026). The Zcash Foundation confirmed: - The turnstile showed **no net inflation** of total ZEC supply - However, because Orchard hides amounts, **there is no way to cryptographically prove** whether counterfeit coins were created *inside* the pool before the fix This created an "auditability paradox" that contributed to a ~31% price crash—even after the bug was patched. ## Proposed Fix **Shielded Labs** has proposed a network upgrade that would: - Deploy a new shielded pool - Route **all coins exiting Orchard** through enforced turnstile accounting - Let anyone independently verify no counterfeiting occurred This must pass Zcash governance before activation. ## Bottom Line Users can verify the *global* supply cap through turnstiles, but **cannot audit the integrity of specific shielded pool internals** if a zero-knowledge circuit bug exists. Privacy and complete auditability are fundamentally in tension.
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McCoy 4 days ago
Maple AI estimate of Total global sovereign issuance 10y gov bonds: Including (OECD + emerging markets) is likely in the $18–$22 trillion per year range recently. The 10-year tenor is typically one of the most liquid benchmark maturities. If it represents roughly 15–25% of total sovereign issuance by volume (a rough industry heuristic, not a hard statistic), that would imply: ~$2.5–$5 trillion per year globally for 10-year government bonds ~$200–$450 billion per month on average
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McCoy 5 days ago
Stay humble Stack sats Get to work
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McCoy 5 days ago
So .... Peter Schiff wins? Brutal image
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McCoy 5 days ago
Everyone who "works in bitcoin" will have to eventually (soonish?) do something else. Work (literally do anything productive) Stack Sats. Self custody. Win.
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McCoy 6 days ago
Submarine Swaps 🔥🔥🔥 Example — Loop In (you need to receive more): You have on-chain bitcoin but your Lightning channel is full on your side. You and a swap service agree on a secret hash H (you know the preimage R). You lock on-chain BTC in an HTLC: “pay the service if they show R by block X, otherwise refund me.” The service routes a Lightning payment to you locked by the same hash H. To claim that Lightning payment, you reveal R. The service sees R and claims your on-chain BTC. Result: You gained inbound Lightning liquidity; the service got your on-chain BTC (minus fees). If anything fails, the timeouts ensure everyone gets their funds back — no one can steal. In Short Submarine swaps are a trustless bridge between on-chain and Lightning bitcoin. They let you buy inbound liquidity or cash out to on-chain without closing your channels, using the same atomic HTLC logic that makes Lightning itself secure.
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McCoy 6 days ago
Year/Mined/Price/Value image
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McCoy 6 days ago
Be careful young Padawan image
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McCoy 6 days ago
goin parabolic since 20:30 image
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McCoy 6 days ago
is odells *rich-people heading to their bunkers* flashing?