Peter Todd

So that solves the security budget issue without having to deal with like other people have proposed.

Peter Todd is proposing like, you know, violating the 21 million coin limit and whatever.

People propose all this other weird stuff like they say, oh, it's a good thing.

Quantum will steal these coins and buy us more time on security budget.

What have they been most critical of and what have they changed your mind about?

Well, you know, honestly, I couldn't believe the critics were so bad.

So the main critic that is Peter Todd, and he would be like, he was against this idea for years and years and years.

We eventually hired him to write, like we were saying, okay, well, how don't you write like a report saying what your problem with this idea is? And the report was terrible.

Like, you know, open timestamps.

I think a lot of people on Bitcoin Today will know open timestamps, Peter Todd's thing for like timestamping stuff in Bitcoin.

There is a couple different little token-based startups that literally did a copycat protocols of open timestamps.

And they said, you know, it's not good enough to just use Bitcoin or even Ethereum, right? Like the base L1s of these things.

Six participants, all in different locations around the world, would contribute randomness to generate the public parameters, and as long as at least one participant destroyed their secret input, the toxic waste would be unrecoverable.

The ceremony took place in late twenty sixteen, with participants including Peter Todd, a Bitcoin Core developer, and journalists who documented the process.

Extensive work went into making sure that the ceremony wasn't compromised, as outlined here.

On October twenty-eighth, twenty sixteen, the Zcash Genesis block was mined.

This is why we have the opportunity to have, for example, people from Adam Back.

I have classes with Adam Back, with Peter Todd, with Giacomo, which is the main teacher in this.

He is incredible.

Hello, Giacomo.

And I think that poses a real risk to the entire network.

Because one day people start taking Peter Todd seriously when he starts talking about Demiurge and Bitcoin.

or whatever it's called, and tail emissions and stuff, which is completely counter to what most Bitcoiners view Bitcoin as.

Like 21 million, you never touch that.

He was not the only one, to be fair.

There has been Peter Todd discussing the illusion of security about hardware wallets for long.

There was Gregory Maxwell famously never using an hardware wallet, even to stay at the opposite side of the recent debates.

There was Luke Dasher.

Last time in July, Daniela Brozzoni, Bitcoin Core developer, taught 42 students from all around the world how to use only Bitcoin Core as a wallet.

And that was before the cold card hack.

I want to consider some things, though, because even if I did teach multisig, including general laptops and including also the security considerations of Peter Todd, which was, by the way, a teacher in many of my courses about security against hardware wallet, I also think there are good reasons to use hardware wallet.

In particular, some of the reasons is that it's easier to spread across local attack models that take advantage of the fact that laptops are very leaky.

And actually, uh, the Hornet node that I mentioned kind of draws this line pretty clearly.

We have consensus rules that are kind of the absolutes, the, the invariants that nobody's gonna change, and the only person talking about it is Peter Todd 'cause he's Satoshi.

What, uh, and-

What?

is.

That's what it is, you know, and it's just like, who were the famous ones in the block size war? Well, it was like, you know, Peter Todd, Greg Maxwell.

you know, Roger a little bit.

Like, Andreas was kind of neutral, but it was a big deal, like, which side he kind of fell on.

Yeah.

Like, is that the one where they thought Peter Todd was Satoshi, or am I thinking of a different-

No.

Not that one