Rusty Russell

Rusty is a Linux kernel dev who wandered into Blockstream, and is currently trying to produce a prototype and spec for bitcoin lightning.

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Rusty Russell

Aug 7

Dear Bitcoin: I’m Sorry, Fees Will Rise

Bad news travels slowly, in the cryptocurrency world. Tribalism causes unpleasant facts to be treated as an attack. But if nobody tells the truth, you can’t blame anyone for being confused.

I Support UASF For Segregated Witness

TL;DR: It’s my fault and I’m sorry. Let’s fix it.

I coauthored BIP-9: in particular, I chose the state machine to time out activation after 1 year. I figured it was a useful checkpoint in case an update proposal had a flaw, or (more…

Miners and Bitcoin Lightning

There’s been some weird ideas that if Lightning takes off, bitcoin miners might not make money from fees any more. Those of us involved are scratching our heads at this, but lets work it out:

TL;DR: The bitcoin userbase is tiny. If we…