March Q&A – $7B Bitcoin Takeover, Taproot, Bitcoin Energy Consumption, NFT, LN Wallets + More [2021]


Looking for an entertaining, trustworthy, unbiased opinion on bitcoin and open blockchains? This is it. Take a look at the timestamps to find the questions you’re most interested in!

0:00:00 Pre-show banner
0:03:46 In a debate between A. Pompliano and M. Green, Green argued that a bad actor with $7bn can bring bitcoin down by DOS-ing it with empty blocks. What truth, if any, does Mr. Green’s message convey and would a nation state attempt such a move? [Attila]
0:11:58 How can I create a 24 word seed that adheres to the BIP-39 standard, ideally with a passphrase, so that it can be imported to the most amount of wallets as possible? [Winst0nOBoogie]
0:18:25 If I keep generating new addresses on my bitcoin wallet without using those and finally deposit bitcoin on one after many unused ones, could it be that regenerating the wallet with my seed will show zero bitcoin balance in this wallet?
0:26:26 Do 21 quadrillion satoshi provide enough granularity for global adoption of 7 billion people using bitcoin? Would the Bitcoin protocol allow to further subdivide sats, e.g. in ants (short for the antonopoulos unit, e.g. 1/100,000 of a sat)? [Peter]
0:30:58 I’m a bit fearful of running a LN wallet on my phone since the app or my phone are not always on. But running a node on my always on desktop at home is not handy and mobile. Can I run a combination where my phone controls the node? [pyrrhos]
0:34:44 How can we contribute to Mastering the Lightning Network by providing translations to other languages? I have briefly looked in GitHub but I couldn’t find any reference. [Giovanni]
0:37:35 Is there an upper bound to the lifetime of a Lightning channel? Could I keep it open forever? [Giovanni]
0:41:35 Hello dear Andreas, People here in MTL are very obsessed by Bitcoin’s over-consumption of energy, in regards of climate change. Would I be wrong to answer them that Bitcoin’s non-inflationary policy will probably help saving the world? [Guillaume]
0:45:20 Why not give up Proof of Work altogether and use only Proof of Stake?
0:47:50 How do mining pools work? How do the miners split the rewards? How does a participant certify that he/she is really contributing a certain hashrate? If one of the miners of the pool finds a good nonce, what prevents them from being selfish? [Giovanni]
0:53:04 What hobbies do you have besides crypto? [Patata frites]
0:54:12 What do you think about the fast track plan for Taproot?
1:00:02 How do I know my btc, eth, and especially the lesser known altcoins are real? That I am talking to the right blockchain? [Stefan]
1:02:03 In a recent speaking of bitcoin episode you defined the identity problem as “one of the Holy Grails of computer science”. Can you elaborate on that? [Mattia]
1:09:33 How would you explain Bitcoin (capital B) to an 11 year old?
1:10:42 Should we try to attack bitcoin?
1:11:25 Bitcoin or Bitcoins?! [Mat G]
1:12:40 Are you concerned at all about the idea of fractional Bitcoining?
1:14:00 With the renewed interest in Non Fungible Tokens will I be able to trade my digital cats for a Lamborghini? [What Was I Thinking?]
1:14:48 How does transaction broadcasting work? Is technically possible to send network traffic without a specific destination?
1:16:44 Are modern legal systems equipped to solve disputes involving bitcoin, especially its more technical elements? [Demosthenes]
1:18:52 Let’s say I broadcast a transaction with a 1sat/byte fee without the RBF flag. What happens if I spend the same input with a higher fee? If the second transaction confirms and the first becomes invalid, what’s the purpose of RBF? [Giovanni]
1:23:26 Regarding scalability and complexity: it seems there is a difference in philosophy between Ethereum (more bandwidth with side-chains) and Bitcoin (going off-chain with Lightning and RGB for layer 3). Can you comment on these differences? [yuto]
1:27:07 Can a smart contract on a blockchain execute a transaction of a coin of other blockchain? e.g. a smart contract on Ethereum executing a transaction of bitcoin. [Gabriel from Brazil]
1:28:35 What happens to my wallet if I add a passphrase to my seed after adding funds?
1:32:07 Down the Rabbit Hole: What is an NFT?
1:38:50 What are the biggest engineering challenges for the Lightning Network? [Giovanni]
1:43:40 Can NFT’s expire?
1:45:56 Kevin O’Leary discussed on CNBC that virgin coins may be sold at a premium, what do you think about virgin coins & does this destroy fungibility? [varounsvlogs] Last month’s livestream: https://youtu.be/MbwLVok4gWA

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