re: Official CryptoTalk Thread

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Hidden gem

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DYOR

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Lol ok

This reply is great. Tweet

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Wouldn't that get very expensive?

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Not really. The more people that use those feeds the lower the price goes down per user. But I don’t see as much value for a centralized company using them instead of a smart contract

Ross, this is from Bitcoin.org and you're correct. Taproot (and tapscript BIP342) is adding support for "multisig scripts and complex contracts". I don't know how its going to be done so I'm going to read about it and maybe look at the code on GitHub to see if I can figure it out (not likely )

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Taproot Soft Fork
Included in this release are the mainnet and testnet activation parameters for the taproot soft fork (BIP341) which also adds support for schnorr signatures (BIP340) and tapscript (BIP342).

If activated, these improvements will allow users of single-signature scripts, multisignature scripts, and complex contracts to all use identical-appearing commitments that enhance their privacy and the fungibility of all bitcoins. Spenders will enjoy lower fees and the ability to resolve many multisig scripts and complex contracts with the same efficiency, low fees, and large anonymity set as single-sig users. Taproot and schnorr also include efficiency improvements for full nodes such as the ability to batch signature verification. Together, the improvements lay the groundwork for future potential upgrades that may improve efficiency, privacy, and fungibility further.

Activation for taproot is being managed using a variation of BIP9 versionbits called Speedy Trial (described in BIP341). Taproot’s versionbit is bit 2, and nodes will begin tracking which blocks signal support for taproot at the beginning of the first retarget period after taproot’s start date of 24 April 2021. If 90% of blocks within a 2,016-block retarget period (about two weeks) signal support for taproot prior to the first retarget period beginning after the time of 11 August 2021, the soft fork will be locked in, and taproot will then be active as of block 709632 (expected in early or mid November).

Should taproot not be locked in via Speedy Trial activation, it is expected that a follow-up activation mechanism will be deployed, with changes to address the reasons the Speedy Trial method failed.

This release includes the ability to pay taproot addresses, although payments to such addresses are not secure until taproot activates. It also includes the ability to relay and mine taproot transactions after activation. Beyond those two basic capabilities, this release does not include any code that allows anyone to directly use taproot. The addition of taproot-related features to Bitcoin Core’s wallet is expected in later releases once taproot activation is assured.

All users, businesses, and miners are encouraged to upgrade to this release (or a subsequent compatible release) unless they object to activation of taproot. If taproot is locked in, then upgrading before block 709632 is highly recommended to help enforce taproot’s new rules and to avoid the unlikely case of seeing falsely confirmed transactions.

Miners who want to activate Taproot should preferably use this release to control their signaling. The getblocktemplate RPC results will automatically be updated to signal once the appropriate start has been reached and continue signaling until the timeout occurs or taproot activates. Alternatively, miners may manually start signaling on bit 2 at any time; if taproot activates, they will need to ensure they update their nodes before block 709632 or non-upgraded nodes could cause them to mine on an invalid chain. See the versionbits FAQ for details.

For more information about taproot, please see the following resources:

Technical specifications
BIP340 Schnorr signatures for secp256k1
BIP341 Taproot: SegWit version 1 spending rules
BIP342 Validation of Taproot scripts
Popular articles;
Taproot Is Coming: What It Is, and How It Will Benefit Bitcoin
What do Schnorr Signatures Mean for Bitcoin?
The Schnorr Signature & Taproot Softfork Proposal
Development history overview
Taproot
Schnorr signatures
Tapscript
Soft fork activation
Other
Questions and answers related to taproot
Taproot review

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(Edit) Its projected to be live in November.

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Finally jumped in. Got 2 etherium at 2200.

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3 weeks ago?

So working nights and watching charts lately has led me on to this trend...
Seems as though when markets do well overnight, many times at EXACTLY 0300 CT (US pre-market trading open), a large sell is initiated across all coins, sometimes leading to further selloff, sometimes a quick bounce. Its not every night, but alarming how often I’ve seen it. Something to keep an eye on.

Didn’t the guys dump their shite into a Coinbase wallet? A third party server was confiscated I thought .

Hell yeah

Buy high
Sell low

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Buy high
Sell low

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the motto

I lost a whole $70 on the deal so I'm not too broken up about it

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Bought a piece of Ethereum at $4200

Got tired of looking at it so I dumped it this morning,

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Ahh the ole buy high sell low strategy.