Back in the day, when Bitcoin was just emerging, such trades would frequently happen in sellers’ homes. And so, basically it’s looking at what parts would be worth it to get a first cut of updates to the LN spec, and so there’s some back and forth on that. Mike Schmidt: Murch, you good to wrap up this first bullet? Oh, Murch, you can poke your head in. This question, I guess, is for Murch, Greg or t-bast, but are there other layer 2 protocols that we see having an interest in contributing to some of these discussions? And as many early investors in bitcoin have painfully realized, if you lose your private key, you lose your bitcoin.7 and 3.7 million bitcoins are out of circulation because their owners lost their private keys on old hard drives and forgotten scraps of paper back when bitcoin was worth only pennies. So, especially with something with symmetric, you basically have to worry about when your transaction hits the mempool and there’s no penalty. Basically, I think there’s some basic agreement on this line that we’re shooting for with package relay, v3, and ephemeral anchors, where the commitment transaction can get a very nice cleanup and improvement and kind of confirmation requirements, while the rest, there’s still some pinning vectors beyond that with HTLC transactions.

So, a number of people have been working on this package relay and http://bitcoinxxo.com v3, ephemeral anchors, cluster mempool, all this stuff. Mark Erhardt: Sorry, I wanted to make the call back here that the proposal with the v3 transactions and the ephemeral anchors, of course, is what allows commitment transactions themselves no longer to have any fees. So, that would be enabling us to (a) have to have one that makes the force close bring the fees, and (b) to have zero fees on the commitment transactions themselves. Say you want to release the funds in a multisig address, for example, until the popular clients add better support for multisig transactions. So basically, it’s kind of a trade-off between the case where your channel partner falls over versus they’re trying to pin you and steal your funds. It’s also just a life headache, but it’s a judgment call, because right now, LN kind of works on firm handshakes, nobody’s attacking each other, nobody’s doing channel jamming, but that could all change overnight.

Maybe, instagibbs, you can kind of talk to that a bit. Today, these four users can create a P2TR (taproot) output whose keypath spend allows them to use a protocol like MuSig2 to efficiently spend that output if they all participate in creating a signature. So, making sure that you are actually pinning it and getting more value out of the attack than what you paid to actually make the pinning work is probably quite hard today, especially with the state of the mempool. It’s, I would say, in the garden-path case, where the nice case where your counterparty just went offline and won’t talk to you anymore, it would become more expensive to resolve these HTLCs in an unpinnable way. But that doesn’t mean they won’t be ready for the next time this happens. So surface checks on the blockchain won’t link your transactions. This value comes from the digital scarcity that is established using blockchain technology. Donations made using cryptocurrency will populate on the leaderboard within 3-5 business days. With future updates to the mempool, hopefully we get around that just basically for free, where any channels that have already updated with v3 and ephemeral anchors will benefit from these other background updates as well.

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