Schnorr and Taproot Upgrade Proposal Merged Into Bitcoin Core – Just yesterday Bitcoin core developers announced this news, which I think is incredibly bullish. Taproot & Schnorr will massively improve the privacy & fungibility of transactions. This won’t make Bitcoin anonymous, however it will rectify many shortfalls. In super simple terms (The way I understand it); Taproot will make normal & script transactions indistinguishable. Schnorr will make normal & multi-signature transactions indistinguishable. If you’re a massive fan of the Lightning Network, like myself, this makes opening a lightning channel appear the same as a normal transaction on the blockchain. Personally I think this is massive. Taproot also allows a Bitcoin transactions to become smarter and have many more conditions.
The code has now been merged & is ready to be formed into a BIP (Bitcoin Improvement Proposal). When a BIP is created, you can then ‘vote’ for the proposal change by running the corresponding Bitcoin core version. Now, this could take 6-12 months to be actually implemented, however significant progress is being made – the momentum is in full swing. Bitcoin’s code is hard to change, you need significant consensus in the network. This is a good thing. The developers & community are extremely diligent & conservative; it all adds to Bitcoin’s superior robustness. This isn’t a science project, this is our future.
Note: You can already improve your Bitcoin privacy immensely by carefully following this great guide.
Second Stimulus Check May Push Bitcoin Price Higher, Analysis Reveals – Another Stimulus check is inevitable. People are losings the jobs, houses and have no food. Times are extremely grim; most politicians have no idea how bad it is. Some of them even have the audacity to give themselves pay rises. This is definitely the first step to become hated. Fact is, if they don’t approve the next stimulus check (not just in America) more people will go hungry & die. The riots and protests will only get worse. They’re stuck between a rock and hard place; because every stimulus check released is worse for the overall state of the economy & future of everyone. Stimulus is not free money; it’s further sly taxation. Debt bubble is growing at a rapid rate, the tax payers will continue to suffer because of it. The rich get richer & well, you know.
I think the smart people will drop their entire check into Bitcoin because it’s literally the only chance of a future at this point. You can you buy gold, but it’s corrupted by fiat and the corrupt politicians that have contributed to our current position. It’s also extremely cumbersome & impractical in a digital age. When push comes to shove and the government needs your money, it’s going to be way easier to confiscate your gold. If you use all the privacy techniques available in Bitcoin, you can give yourself a lot more plausible deniability when they come knocking. I know this seems extremely unlikely, you have to understand; governments are broke – there’s going to be increases in taxation & there’s going to be more loss of rights. You can’t rule out anything at this point. I hate to be the bearer of bad news, but things will likely get ugly.
My favorite tweet of the day, because it’s so true.
Subscribe to future posts & claim 1000 FREE sats – www.bitcoin2009.com
If you’d like to donate:
You are not weird, You are just a limited edition. Lets Post