Owen Kemeys | wen covenants Profile Banner
Owen Kemeys | wen covenants Profile
Owen Kemeys | wen covenants

@OwenKemeys

2,307
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1,458
Following
907
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10,705
Statuses

Sometimes design stuff, sometimes write stuff, usually bitcoin related

Joined November 2013
Don't wanna be here? Send us removal request.
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@OwenKemeys
Owen Kemeys | wen covenants
8 months
Welcome to Covenants 102, with a focus on CTV still. In this thread I’ll walk through three clear use cases, impossible without covenants. Each improve bitcoin significantly for the average user. We’ll build up our understanding for the last, most powerful one: payment trees.
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
@GuyDealership Twas ever thus
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@OwenKemeys
Owen Kemeys | wen covenants
8 months
Welcome to Covenants 101, with a focus on CTV. What are they? Is this an attack on bitcoin? Can the government lock up all our coins? Without an accurate mental model of what's actually going on, it's hard to reason on what they can and can't do. So let's walk through it. 📩👇
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
My nocoiner family will probably play Monopoly this Christmas. Any #Bitcoin suggestions on how to use it to show the perils of the fiat system? A thread.
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
Hey @cz_binance , is now really a good time to be mass consolidating UTXOs, given users are panicking and on multiple bank runs? Considering Binance also overpay @ 13.5sat/vbyte when the mempool would otherwise be much calmer (& cheaper)? Speculative attack?
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@OwenKemeys
Owen Kemeys | wen covenants
1 year
why did @coinbase engineer @josephkunzler delete this tweet? 🤔
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
@adam3us Someone snagged this one…
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@OwenKemeys
Owen Kemeys | wen covenants
11 months
Beautiful scenes from BTC Amsterdam. Ordinals V Snowden
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
It’s here!! Can’t wait to read this monster @JasonPLowery
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@OwenKemeys
Owen Kemeys | wen covenants
8 months
Listen up. I was wrong about Taproot Wizards. It’s performative art using code, to psyop a renewed interest in bitcoin tech, development, its history, and future. They want people to get involved with bitcoin as a technology and develop stuff as an example. This is net good. 🤝
@rot13maxi
Rijndael | BIP-420 🐱
8 months
We've been working super hard on @QuantumCatsXYZ . in addition to the incredible artwork by @0xfar , there's a lot of cool tech behind these Evolving Inscriptions. Ordinal Inscriptions are on Bitcoin. The Bitcoin Blockchain is immutable. How did we build evolving inscriptions? 👇
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
Had fun writing this piece for @BitcoinMagazine mashing up ancient Egypt, engineering, Bitcoin & the recent soft fork controversy - remembering our actions all form a part of the very, very big picture of history.
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@OwenKemeys
Owen Kemeys | wen covenants
9 months
@allenf32 your bank account is a 2 of 3 multisig where the bank holds one key, the government one key, and the government another key
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@OwenKemeys
Owen Kemeys | wen covenants
9 months
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
@raypaxful Respect. We’re slowly entering the era of integrity… finally.
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@OwenKemeys
Owen Kemeys | wen covenants
3 months
@ByKLong The guy has done nothing except write useful software and give it away for free. Some private individuals donated him money because they found his work so valuable. Never asked for anything except to be left alone. How are you not mortified at what you’ve done?
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
@Croesus_BTC Been thinking this too. Encouraging self custody is the primary goal for hodlers and the dread fear for dishonest exchanges. How can we improve this for the next cycle? We do a lot culturally but it’s clearly not been enough.
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
This point has never hit home as well as here. Holy cow. When price is going down, but you still want to sell as high as possible, you have no choice but to add quality - in all things.
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@Croesus_BTC
Jesse Myers (Croesus 🔴)
2 years
The @PeterZeihan clip on @joerogan was infuriating enough that I wrote an article explaining the several layers he gets wrong about #Bitcoin Deflation is good, and here's why...
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@OwenKemeys
Owen Kemeys | wen covenants
10 months
@tobyzapf @Sonnenshein @zerohedge Only instant permissionless global transacting in a fixed supply unit that cannot be debased, something never before possible in all of human history 🤷🏻‍♂️
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@OwenKemeys
Owen Kemeys | wen covenants
9 months
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
@fxmacro This is a manually typed text document presented as proof in an era when we have a globally distributed, public and freely accessible, perfectly auditable ledger, secured by extensive cryptography. And in fact the assets only exist in that ledger.
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@OwenKemeys
Owen Kemeys | wen covenants
3 months
In this new long form piece I step through the scenario of a concerted effort to stop Ordinals by force, laying out the moves and counter-moves available to each side at each stage, up to the ultimate endgame. Unless one side surrenders.
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
@CleanUpBitcoin Good news: BitcoinPoS has existed for 2 years already! You’re free to use it 😀 Pushing to make something that already exists is not very energy efficient.
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@OwenKemeys
Owen Kemeys | wen covenants
6 months
@ajtourville @plebdothodl Ferrari build quality has sucked for decades and the whole industry laughs at it. They’re also one of the most profitable car companies and their customers will crawl over hot coals for permission to buy the new exclusive one. So who’s the real sucker?
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
“Over the last 12 months, the Bitcoin network has secured over $50trillion worth of transactions. These are material amounts of money, even for the traditional system. This is not an experiment!” - @BitcoinPierre
@BitcoinPierre
Pierre Rochard
2 years
Podcast with @PrestonPysh on @TIP_Network just released! We discuss why #Bitcoin “mining” is a misleading analogy and possible alternatives, I hope you find it interesting. Listen, subscribe, share, and leave a review 🙏
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@OwenKemeys
Owen Kemeys | wen covenants
7 months
In Covenants 101 we covered the technical basics, and in 102 we outlined some example use cases. Today we’ll look at a demo of what really using these might be like for the average person. This is what Phoenix self-custody lightning wallet could do with CTV.
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@OwenKemeys
Owen Kemeys | wen covenants
10 months
@eigenrobot This is my all time favourite example of this cheerfully naive AI era
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
@BTCGandalf @TuckerCarlson @FoxNews This is the most entertaining explanation so I’m making it my preferred timeline and considering this theory as true.
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
@saifedean What if some rogue dev went in and just coded it & released it? I mean, it’s decentralised right? Right?
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
An absolutely mind-blowing, must-listen discussion from @JasonPLowery and @Breedlove22 on the absolutely massive implications of Bitcoin. This is a truly species-changing technology and we’re using it as money (and still most people are laughing at even that). 1/ 🧵
@WhatisMoneyShow
The "What is Money?" Show
2 years
Power Projection and Human Imagination | The Jason Lowery Series | Episode 6 (WiM219) In this episode @JasonPLowery & I discuss: -Virtual Reality, Cyberspace, & the Collective Imagination -"God Kings" #Bitcoin
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
@DesertedPIaces_ @Dieter75 The Sphinx (date unknown) visited by samurai in 1864, when it was still buried. Photo (1839 tech) digitised (1990s tech) sent over internet (2000s) specifically twitter (2006) between our smartphones (2008)
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@OwenKemeys
Owen Kemeys | wen covenants
1 year
I am sitting by the beach in El Zonte right now and I’ve been paying for everything using Phoenix, a complete lightning node in an app with self custody. It’s worked flawlessly and, if I needed to, I can move all funds without Phoenix. Please stop pushing people to custodians.
@sethforprivacy
Seth For Privacy | #FreeSamourai
1 year
23/ Why is there zero mention of someone having a legitimate reason to push for self-custody? All of the archetypes presented here are demeaning and insulting, and match *zero* of the people I know who push hard for self-custody over custodial solutions.
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
@hodlonaut @stephanlivera Perhaps this fight is what you were put here for. I can’t picture many others who would have the resolve and integrity you’ve displayed. Thank you for doing it. Wiring a couple more sats to OpenSats.
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@OwenKemeys
Owen Kemeys | wen covenants
1 year
I am going to post my midwit understanding of CTV and @Polyd_ is going to tell me all the ways I’m wrong. Welcome to my thread. Transactions today let us specify a destination, so on chain is like moving letters between locked postboxes (roughly)
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
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@OwenKemeys
Owen Kemeys | wen covenants
5 months
@PeterMcCormack @ck_SNARKs @benthecarman The price of permissionlessness and money for enemies. The real takeaway is bitcoin is even bitcoiner-resistant and this should be marvelled at.
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@OwenKemeys
Owen Kemeys | wen covenants
8 months
Bitcoin lately
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@OwenKemeys
Owen Kemeys | wen covenants
9 months
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
@zerohedge We don’t. You do.
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@OwenKemeys
Owen Kemeys | wen covenants
4 months
Preview
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@OwenKemeys
Owen Kemeys | wen covenants
1 year
@michelleweekley A private key is just a very large number. This is hard to remember, so people invented a scheme to turn numbers into English words, which are easier to remember.
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
@CasaHODL If you are under duress right now just give the secret signal
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
@BTCGandalf That’s… surprisingly humble 🤔
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@OwenKemeys
Owen Kemeys | wen covenants
9 months
@gersonmartinez I don’t get what this is offering. Tourist visas are ~$20, residency application $500 DIY up to $2500 white glove, not hugely strict. Apply for citizenship 5yrs later, another few hundred bucks. What does your $1m get you? Marketing totally unclear. Skip the 5yrs?
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
@BTCGandalf @BitcoinIsSaving Ethereum is decentralised bro deal w/ it
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@OwenKemeys
Owen Kemeys | wen covenants
1 year
People who admit they didn’t understand and want to learn, and own their mistakes, are always welcome. Integrity.
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
@BitcoinIsSaving @CarlosMatos4321 @dergigi @cameron @BarrySilbert There is a rich ecosystem of wealth extraction models to explore
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
@Babygravy9 It’s lucky that this came up during an egg shortage driving up prices AND a mysterious wide-scale blood clot epidemic.
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@OwenKemeys
Owen Kemeys | wen covenants
8 months
@mononautical Your posts of mempool shenanigans are some of my favourite on all of twitter.
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@OwenKemeys
Owen Kemeys | wen covenants
1 year
It’s been fantastic showing people around Passport over the last few days. We’re cleaned out. Build good products, hold strong principles. People love it. Time for a beer.
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@FOUNDATIONdvcs
FOUNDATION
1 year
Huge shoutout to our amazing marketing team @Ledger ! Passport is officially sold out and will be back in stock in 4-6 weeks thanks to their efforts.
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@OwenKemeys
Owen Kemeys | wen covenants
9 months
@rajm2016 @BrianRoemmele And therefore 10-100x more content of which 90-99% will be junk nobody’s going to watch unless recommended by someone trustworthy
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@OwenKemeys
Owen Kemeys | wen covenants
9 months
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
@SimplyBitcoinTV Those weren’t wallets. You left your coin with someone else to protect on your behalf, and when an adversary came knocking, they folded like a wet paper bag and handed it over, on your behalf. Self custody still too hard?
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
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@OwenKemeys
Owen Kemeys | wen covenants
9 months
@nikcantmine Fact check: a bitcoin transaction is a small file of data and contains no water. It is processed by a miner, which is an electronic computer, a technology famed for incompatibility with water.
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@OwenKemeys
Owen Kemeys | wen covenants
8 months
Instead of each L1 Tx being one ownership change, we can plant a whole tree full of many users, all sovereign, but only using 1 UTXO of block space. If the leaves were lightning channels, you can even be spending sats freely - only updating the tree rarely for channel closures.
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@OwenKemeys
Owen Kemeys | wen covenants
1 year
@balajis Wait what? You’re betting BTC is above $1m within 90 days? We’re all bullish but that is total crazytown.
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
@stackhodler Oh boy, I hope there’s some kind of Digital Currency that can be offered by the Central Bank to “protect” Italians from this sort of thing in future!
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@OwenKemeys
Owen Kemeys | wen covenants
1 year
Pulled the ripcord. Still within returns window of my latest iPhone, can’t lock in to a brand new device when they’re showing at best impaired judgements like this for the walled garden. Pixel for GrapheneOS arriving tomorrow.
@evankaloudis
EVAN KALOUDIS
1 year
Zeus v0.7.6 has been rejected by Apple
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@OwenKemeys
Owen Kemeys | wen covenants
8 months
Why are people like this? So embarrassing. - either looking through our code on Christmas Eve - or saved it up, waiting to drop for Christmas - did not actually read the code, doesn’t do what is claimed - blocked everyone so can’t address concerns directly Why be like this? 🤔
@sethforprivacy
Seth For Privacy | #FreeSamourai
8 months
NVK has gone out of his way to lie (or blatantly misread) our code to FUD a competitor on Christmas Eve, abhorrent as that is. Unfortunately we are all blocked by NVK so have no way to respond directly to him. The code he’s screenshotted (and not linked to, funnily enough!) is
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
@BitcoinMagazine @elonmusk Now that Bitcoin exists, there are no more viable excuses for needing to print a new form of money. It’s just grift.
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@OwenKemeys
Owen Kemeys | wen covenants
6 months
Honestly if we said “planetary database update” instead of “transaction” everyone would be a lot less confused
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
@JasonPLowery This meme conveys something I’ve been thinking for a while - bitcoin is something more than currency, it’s like the rallying point around which a new nation is being born, independent of your geography, personal background, or current rulers. We have not seen this for centuries.
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@OwenKemeys
Owen Kemeys | wen covenants
6 months
What happened in WW2? Capital fled the squabbling old world to somewhere safely out of range with strong property rights, resulting in the most powerful civilisation the world has ever seen. Untold prosperity, too, until they got too greedy. That’s not possible this time.
@balajis
Balaji
6 months
So: you don’t need to get to 51% majority to change the world completely. And in fact there are already more crypto owners globally than US citizens. They’ve opted into new systems of property rights and contract law, much as US emigrants did.
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@OwenKemeys
Owen Kemeys | wen covenants
3 months
You know what I’m most excited about here? Zeus. It’s always blown my mind that to open a channel I have to first send to my node on chain, then send from there to the channel addy. There’s just no need for 2 tx. Finally, open a channel with one move from cold storage! FINALLY!
@FOUNDATIONdvcs
FOUNDATION
3 months
Passport v2.3.1 is out now 🫡 With this version of Passport’s firmware we’ve added connections to @TheyaBitcoin , @ZeusLN , and @CoinbitsApp , updated dependencies, and made reproducible builds more resilient to upstream changes.
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@OwenKemeys
Owen Kemeys | wen covenants
5 months
Abandon ye thoughts of making blocks bigger. Never again. Scaling must be smarter than this.
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@OwenKemeys
Owen Kemeys | wen covenants
1 year
This is such a great piece. BTC is scary electronics and raw power, but builds something fundamentally HUMAN. And the crown of nuclear towers emitting water vapour, and smokestacks emitting CO2 enabling more plant growth 🤌🤌🤌
@greenpeaceusa
Greenpeace USA
1 year
Some climate activists think #Bitcoin is just fake internet money they can safely ignore. The truth? Bitcoin is causing dangerous amounts of real-world pollution from its ravenous consumption of fossil fuels, all due to its outdated code. The solution? #ChangeTheCode
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
@S_e_a_weed @JimDurkinn @DiWiart @CharlieMunger00 Capitalism would be privatised profits, privatised losses.
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
@Spartacus_HODL @fxmacro Words offered: 862 Proof offered: 0
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@OwenKemeys
Owen Kemeys | wen covenants
1 year
@giacomozucco I think we all did. Also with more time to sink into the consciousness (and removal of pressure from Jeremy) it had a chance for organic consensus. Resisting last year was still the right reaction. Change should be difficult and slow.
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
@Fintech_Brennan Why would I want to run a code version that works against my interests?
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@OwenKemeys
Owen Kemeys | wen covenants
6 months
March 11, 2024. Bitcoin makes a solid new ATH. Tradfi early adopters wildly bullish, blowing their loads everywhere. In a bitcoiner group chat, discussion is raging over egg cooking techniques. No mention of price AT ALL. Legacy markets have no idea what they’re facing.
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
Tell me this doesn’t sound exactly like black box recordings of disoriented pilots trying to stay in the air when instruments are unreliable. @LawrenceLepard ’s analogy playing out viscerally. Uncomfortable.
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@OwenKemeys
Owen Kemeys | wen covenants
1 year
crypto
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
@CleanUpBitcoin You’re right, we need to end centrally planned money and accelerate the move to Bitcoin. We have to protect our communities, people and climate from the enormous harm done by the fiat money experiment.
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@OwenKemeys
Owen Kemeys | wen covenants
6 months
@Pilsner_Maxwell @notlouisck What are you talking about? Sending bitcoin over lightning is faster than credit cards and costs fractions of a cent. I do it every day.
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
@DigitalIOM @hodlonaut Wow, that’s a strong reflection on the island. Great job! 👏
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
@saifedean @thefiatstandard We were close to a competitive market of supersonic passenger jets in the *late 60s*. How might things have gone differently? Where would we be with 50 years of competition in the field under our belts?
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
@BitcoinMagazine Why are they wasting all this energy?
@OwenKemeys
Owen Kemeys | wen covenants
2 years
@CleanUpBitcoin Good news: BitcoinPoS has existed for 2 years already! You’re free to use it 😀 Pushing to make something that already exists is not very energy efficient.
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@OwenKemeys
Owen Kemeys | wen covenants
8 months
Wait: Don’t we have to mine this huge pile of Tx eventually, for everyone to REALLY get their coins? If we collaborate, NO! We can build alternate spend paths. But that’s a whole thread. You now understand covenants 101: commitments made *without always touching the chain*.
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
@DylanLeClair_ Imagine building your whole life around this monetary system.
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@OwenKemeys
Owen Kemeys | wen covenants
1 year
Bitcoin changing lives in El Salvador. Because the bitcoin paid in is a bearer asset, DitoBanx has no clawback risk from the deposit, so they can offer cards with less onerous KYC, which many Salvadorans would struggle to provide.
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
@LayahHeilpern Do you want it to happen now, or later when the level of damage is far bigger?
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
Pierre, this .eth says you don’t grok mining 😆 @BitcoinIsSaving
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
@resetbtc @Pentosh1 It’s not decentralised, never has been, and was never even presented as such.
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
@AlpacaAurelius Why is a full 1/3rd of this chart sugar-loaded industrialized cattle feed?
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@OwenKemeys
Owen Kemeys | wen covenants
1 year
There might be some hope for Britain yet.
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@OwenKemeys
Owen Kemeys | wen covenants
1 year
@LynAldenContact I committed accidental chart crime on my previous reply. As an honest actor in the pursuit of truth I would never do so intentionally so here is the corrected version. $3.1t outlays = $2t receipts PLUS $1.1t unilaterally borrowed from your children.
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@OwenKemeys
Owen Kemeys | wen covenants
1 year
@NgoloTesla Very interesting when you combine it with recent research - cells arrange themselves to build bodies according to an electrical template in 3D space, its origin unknown. This phenomenon may be imaging it, and showing it existing independent of the cells.
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
Update: mempool queue now 85 blocks deep. For context here’s the last week. Green is Binance’s consolidation TXs.
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@OwenKemeys
Owen Kemeys | wen covenants
1 year
mother of god
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@alexeiZamyatin
Alexei Zamyatin | Hiring
1 year
Proposing the BRC-21 standard to mint fully decentralized, cross-chain tokens onto #Bitcoin . This allows minting L1 assets like ETH, SOL, DOT and decentralized stablecoins like DAI, LUSD... onto Bitcoin & use them on lightning network
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
Slip some new cards into the deck. CHANCE CARD: Bank bail-in, everyone with more than $x must pay the rest to the bank.
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@OwenKemeys
Owen Kemeys | wen covenants
1 year
@profstonge @JasonPLowery @ryanrakich Your point is interesting but ultimately you’re better than this Peter. Read the man’s work before critiquing.
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@OwenKemeys
Owen Kemeys | wen covenants
5 months
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@OwenKemeys
Owen Kemeys | wen covenants
8 months
Addresses are built from the spending conditions YOU want for YOUR coins. You have a key, you define a lock that it opens, that IS your address. Coins (UTXOs) sent to the address must be unlocked to be spent. You defined the lock, you decide what opens it, nobody else.
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@OwenKemeys
Owen Kemeys | wen covenants
3 months
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@OwenKemeys
Owen Kemeys | wen covenants
2 years
CHANCE: Quantitative Easing, all $ numbers on the board and cards should now be considered double. Bank notes are unaffected.
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@OwenKemeys
Owen Kemeys | wen covenants
4 months
@raycivkit This is a permissionless planetary database secured by the largest amount of energy directed at one system ever in the history of our species. Using it to send $33 is like delivering pizza with Apollo 11. We definitely have more work to do but give users realistic expectations.
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@OwenKemeys
Owen Kemeys | wen covenants
1 year
Not only does @adam3us push for “bits” but we learned on @citadeldispatch he also says gifs as “jifs” 🚩🚩🚩🚩 Adam, if you’ve been compromised give the super secret signal
@adam3us
Adam Back
1 year
bits came before sats. here's bitcoin qt (bits > sats or why not both.)
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