BITCOIN RAILS #59#: Post-Quantum Bitcoin Signatures (+ their tradeoffs) | with BIP 360 co-author @Ethan_Heilman and @Blockstream Head of Research @n1ckler 🔗 YOUTUBE: 🌿 SPOTIFY: According to BIP 360 co-author Ethan Heilman, Bitcoin needs a minimum of two soft forks to become quantum resistant: P2MR (or an output type that can safely execute PQ signatures) + a post-quantum checksig (signature scheme). Ethan and the BIP 360 team (including myself and @cryptoquick) introduced the P2MR part via a BIP 360 update late last year—but the question remains, what’s the most appropriate PQ signature scheme for Bitcoin? They all have substantive tradeoffs, but hash-based signatures seem to be leading technical discourse—likely due to recent optimizations by @n1ckler and the broader @Blockstream research team. It was an honor to sit down with both of these men - arguably the two most influential and productive cryptographers in Bitcoin quantum mitigation right now - for an in-depth review of the leading PQ signature schemes and a temperature check on Bitcoin’s post-quantum planning process. TBH, if you want to skip the noise and jump straight to the signal on quantum, this is the interview to watch. In this episode, we discuss: - What needs to happen at the soft fork, infra, and mitigation levels to fully quantum-harden Bitcoin - Recent updates to BIP 360 + breakdown of the leading hash-based signatures schemes for Bitcoin (SHRINCS + SHRIMPS) - Why we may actually get consensus around a stateful scheme for Bitcoin - Comparisons of hash-based signatures vs Lattice and Isogeny-based schemes - Assessing the risks of both waiting too long and acting too fast (and why quantum is a better threat to be facing than a potential classical attack) This episode of Bitcoin Rails is brought to you by my NEW sponsors: - LayerTwo Labs @LayerTwoLabs — developing research, software, and technologies for scaling Bitcoin via the integration of Drivechains (BIP 300/301) - Hashi on @SuiNetwork — a primitive for executing Bitcoin Defi transactions, without having to trust a federated bridge or other centralized entity - BitBox @BitBoxSwiss — an open-source Bitcoin-only hardware wallet, with smooth UX and no compromises on security. Check out Bitbox [dot] swiss and use code BITCOINRAILS to get a discount TIMESTAMPS: 00:00 Intro 02:18 Ethan’s Quantum Wakeup 05:18 How Blockstream Enters Post Quantum 09:25 BIP 360 Explained 12:11 How Bitcoin Transitions to PQ 17:35 Choosing Post Quantum Signatures 23:20 How Blockstream Created SHRINCS 27:22 Signature Budgets Importance Explained 41:13 What are SHRIMPS? 44:51 SHRIMPS vs SHRINCS 47:48 Why SLH-DSA Alone Won’t Cut It 49:24 Is a SHRIMPS + SHRINCS BIP Coming? 51:51 Blockstream’s Big Plans for Liquid 59:04 Quantum Readiness Roadmap 01:02:22 Importance of a PQ Recovery Plan 01:05:35 How Long Would a PQ Migration Take 01:11:17 Quantum Watchlist Recommendations

GM 🟧 Ordinals at Bitcoin Conference❗️ Here’s a look at Ordinals projects and people from the eco who were present at @TheBitcoinConf in Vegas 2026 ⬇️ ————— 🖼️ ART ————— 💵 Amazing evolving collection created by @MLOdotArt called Do not accumulate. The 21-Month Cycle: A Currency Programmed Not to Last. • Recursive Bitcoin Ordinal inscription • Single-file HTML with embedded CSS, JavaScript, and SVG • No external dependencies after inscription • Fully on-chain • Supply: 21 pieces ☁️ Clouds move behind Lady Liberty, representing the hidden loss of value. They are out of her view, hinting that the threat comes from within the country. Her torch reaches up and sets the Federal Reserve header on fire, suggesting that the institution is being judged for a century of currency decline. 👀 To view the collection, learn more about it and to purchase a piece, visit Bitcoin Museum & Art Gallery (@BMAG_HQ) 👇 🔗 ————— 🧢 MERCH ————— ☮️ @BitcoinPuppets | @Hillshills 🪿 @goosinals | @DJclittylitter 🔶 @SatoshiansBTC | @ToshiNakamodo 🟪 @ARKAiDio 🟠 @Tragic_Eden ———— 🎤 PANELS ———— 🔥 @hellmoneypod hosts 👇 ➡️ Erin @realizingerin • A Framework for Understanding Everything • The Subtle Art of Buying the Top • Forecasting Bitcoin with Macro Models & Mercury Retrograde (Moderator) ➡️ Casey @rodarmor • The Quantum Threat to Bitcoin - - - - - - - - - - - - - - - - - - - - - - - - - - 🤖 @KingBootoshi (@BitcoinBoos) • What Does Bitcoin Look Like in an Agentic World? 🚨 If you’re looking to learn about AI and agents, definitely visit Bootoshi’s website 👇 🔗 🛠️ You’ll find there lots of helpful info and tutorials. You can also try reaching out to Bootoshi directly. - - - - - - - - - - - - - - - - - - - - - - - - - - 🟧 @cbspears (@blockspace) • Modular by Design: Building Everything on Bitcoin • Comparing Lottery Mining & Pool Economics for Hashers - - - - - - - - - - - - - - - - - - - - - - - - - - 🧙‍♂️ @brian_trollz 👀 • Lightning + Ecash: An Atomic Match Made in Heaven (Moderator) - - - - - - - - - - - - - - - - - - - - - - - - - - 🗓️ Hopefully next year in Nashville more Ordinals projects will be present ✌️ It was great meeting you irl @madisonoliviaa_ 🦙 @Hillshills @ToshiNakamodo —— ⛓️ ART ON BITCOIN ——— 🇦🇪 It’s worth noting that BTC Vegas wasn’t the only crypto event happening in recent days 👇 ‼️ Big shoutout to @BtcArtSociety | @Yaraspucia_ | @SergeSats for promoting Art on Bitcoin in Dubai at @TheBlockGlobal Festival!! 🤝 ⛓️ Mosaic by @BitArt21 represented Ordinals extremely well 🔥

ECHOPORTS MINT GOES LIVE IN 6 HOURS. When: March 12, 3PM UTC Where: | @ordzaar Before the mint, read this carefully 👇 🔸This is an Ordinals mint: make sure your Bitcoin wallet is ready and funded with sufficient BTC (+0.000999 BTC). 🔸You can lock your Echoports immediately after mint at: Your cumulative holder score determines how close you get to the $BYD airdrop allocation as TGE approaches. ❗️Avoid timeframes longer than a month from the mint 🔸 Randomized mint: 5 different tiers. Let the odds favor the brave. 🔸 WL lasts 3 hours, after that → public mint opens. 🔸 All mint details: We're here to prove to the market that when things are done right, the community responds. We're here to provide the blueprint for value distribution and future launches. We're here beyond and onwards!

GM 🟧 Ordinals are slowly waking up and we have a few intriguing collection launches coming up in the next few weeks, as well as many interesting mints that are currently live 🔥⬇️ 👀 Check out @Tragic_Eden for all the links in one place 👇 🔗 —— UPCOMING FREE MINTS —— 🐯 Cheetah Torne (@BTC_Torne) 🗓️ Mint date: Wednesday, May 13 ⏰ 12pm PT / 3pm ET / 19:00 UTC 🐯 Supply: 2,500 💰 Mint price: FREE 🚀 Launchpad: @ordinalgenesis 🔗 Mint link: TBA 🚨 We’ll be giving away 5 GTD spots soon. Keep notifications on!! - - - - - - - - - - - - - - - - - - - - - - - - - - 🧸 Grizzy by @BITCOIN_GRIZZY 🗓️ Free distribution has started 🤝 🐻 Supply: 333 ❔ For more info visit their X profile - - - - - - - - - - - - - - - - - - - - - - - - - - 🐒 @BitMonkeesBTC with art by @NOXtoshi 🗓️ Mint date: June 6 ⏰ Mint time: TBD 💰 Mint price: FREE 🙊 Supply: 9,999 🚀 Launchpad: TBA ——— NEW COLLECTIONS ——— 💐 tuLIPS by @LRedhorns The artwork is based on an acrylic on canvas painting in which the flowers are formed using the lip prints of the artist Lady RedHorns, while the petals are created from her fingerprints. It is a personal gesture and a bodily message composed into a cohesive artistic composition. - - - - - - - - - - - - - - - - - - - - - - - - - - 💀 Soft Eulogies - Domain 1: Light by @travisleroy Portraits from the Mempool is a time-based vigil for everything that has been declared “dead” in our feeds, markets, and lives. Across the series, thousands of casual dismissals accumulate into a larger meditation on value, loss, and attention in a culture that is always announcing endings. - - - - - - - - - - - - - - - - - - - - - - - - - - ⬛️ Memory Loss by @E_Pieraccini_ A long-form collection of generative, dynamic and conceptual art stored fully on-chain on Bitcoin, that explores the most intimate paradox of the human experience: our memory is what defines us, yet it is destined to corrupt, distort, and ultimately disappear. ————— LIVE MINTS ————— 🔸 Do Not Accumulate Dollar by @MLOdotArt 🔸 @VisibleViolets Vol.2 presented by @OneLoveArtDAO | @Jeni_Pepen 🔸 OnlyGiri by @proofofcar ⚠️ Supply has been reduced to 444 🔸 Murmurations by @lordcalder 🔸 Node Runner by @theMacintoshi 🔸 Okupa by @YuZapata3SC 🔸 Okupa by @judasaca_art 🔸 @pupsogette by @lukaskalm 🔸 Bitcoin Cyborgs by @MrEdogtagnft | @frogpoleon 🔸 Bitcoin Lava Lamps: Wall of Entrooy by @ordlavalamps 🔸 The Bullish Rider by @glitchesst 🔸 Bitcoin Lemings by @ViolaMissCode 🔸 Squanchies by @Nairobi00000 🔸 Eccentric Bananas by @ekavibes 🔸 Sanctum of Fallen Grace by @glitchesst 🔸 Surveillance Garden by @BreathlesssAsh 🔸 Card Packs by @Decentralizd 🔸 AuralDisk by @richbi11 🔸 The Writers by @Lezin_OG 🔸 Wiggle Plug by @itchatoshi 🔸 Gruppets by @AIAndroidDreams 🔸 Inside Us by @ViolaMissCode 🔸 Warden of the Flock by @glitchesst ———— LAUNCHPADS ———— 🚀 For more mints check out these launchpads: 👇 🔸 @LunaticsBTC 🔸 @OrdDropz 🔸 @ordinalgenesis 🔸 @OrdXcom 🔸 @ordzaar 🔸 @trio_xyz 🔸 @trygamma 🔸 @yuzodotxyz

Why JIT Liquidity + Splice Are Critical for Atomic Swaps @BitlightLabs has released the latest update on staying in sync with Lightning development progress, while also introducing several new features planned for future support. @rgbstashlabs provides an in-depth explanation of two key features from this roadmap, along with further context on their significance for Stash Labs products such as RLSP, and Flash Dex. 🔥 Two Core Capabilities Explained: • JIT liquidity for RGB: just-in-time RGB asset channel opening • Splice for RGB: dynamic capacity adjustment of RGB asset channels Building on our RLSP + Atomic Swap capabilities, is about to launch native asset swap trading. However, the current RGB Lightning Network pipeline has key pain points: When a user completes a $RGB buy order via RLN and RLSP, two channels must be opened sequentially: ✅ User opens a BTC channel to pay BTC to the RLSP ✅ RLSP opens a BTC/RGB composite channel to deliver $RGB to the user Three Major Drawbacks of the Current Model: 1⃣ Dual channel opening requires waiting for Bitcoin mainnet block confirmations — typically 6 confirmations — resulting in extremely high transaction latency. 2⃣ Channel capacity is fixed. Once the balance is insufficient for the next transaction, the old channel must be closed and a new one rebuilt — a costly process with high fees and a fragmented user experience. 3⃣ The current model is completely unable to support high-frequency continuous trading scenarios like FlashDex perpetual contracts, severely limiting the RGB ecosystem's trading experience. 🚀 JIT Liquidity | On-Demand RGB Channel Opening JIT (Just-In-Time) liquidity — the core principle is to create on demand, with no pre-lockup required: ▸ Users don't need to pre-fund or manually create RGB asset channels; ▸ When initiating a $RGB receive/swap request, the RLSP instantly generates a virtual off-chain channel — no immediate on-chain settlement needed; ▸ After the first transaction is completed, it is automatically anchored on-chain and converted into an official RGB Lightning channel. 💡 Core Value: • Zero-barrier entry to RGB asset swaps — no idle capital lockup. • Dramatically reduced transaction wait times, eliminating mainnet block confirmation delays. • Enables users to complete $RGB transactions as seamlessly as Lightning BTC, while maximizing RLSP capital efficiency. 🛠 Splice for RGB | Dynamic Capacity Adjustment for RGB Asset Channels Built on the Lightning Network's native Channel Splicing technology, allowing RGB asset channels to be resized without closing or rebuilding: ▸ Splice-in (expand): Add BTC/RGB assets directly to an existing channel; ▸ Splice-out (shrink): Withdraw idle funds from the channel as needed; ▸ The channel remains uninterrupted throughout — no trading pauses required. Only the funding transaction is updated via signatures, requiring a single on-chain confirmation. 💡 Core Value: • Permanently eliminates the old pattern of "close and reopen a channel when the balance runs out". • Seamlessly supports high-frequency continuous trading, enabling FlashDex perpetual contract scenarios. • Significantly reduces on-chain fees from repeatedly opening/closing channels, improving capital turnover and utilization. 🔗 Synergy of Three — Redefining the Atomic Swap Experience • RLSP + Atomic Swap: Powers the underlying asset swap logic. • JIT: Solves the "0 to 1" problem — no pre-built channels, instant trade initiation. • Splice: Solves the "1 to N" problem — dynamic channel scaling to support high-frequency continuous trading. With JIT + Splice landing together, the current pain points of RGB channels — high latency, cumbersome workflows, and the inability to support high-frequency trading — will be fully resolved. This lays a solid infrastructure foundation — high performance, low barriers, and high liquidity — for upcoming Atomic Swap and ecosystem derivatives trading. 🚀 It is worth noting that these two features will not affect the launch timeline — they serve purely as a leap forward in user experience.

Bitcoin treasury companies are sitting on billions in idle BTC. What are they actually doing with it? 🎧 @MarvinDefi on the future of Bitcoin treasury and why most companies are getting it wrong.

BITCOIN CONFIRMED AS PART OF IRAN’S STRAIT OF HORMUZ TOLL PLANS Iran has reportedly launched “Hormuz Safe,” a sovereign-backed maritime insurance platform allowing ships crossing the Strait of Hormuz to purchase coverage using Bitcoin. According to Iranian state-linked reports, the platform offers digitally verified insurance certificates, encrypted authentication systems, and rapid coverage for vessels operating in the Persian Gulf and surrounding waterways. Documents cited by Fars News Agency claim Iran’s Economy Ministry has been developing the framework since early May as part of a broader strategy to manage shipping traffic through Hormuz using insurance, liability guarantees, and maritime certification systems. Iranian media claims the initiative could eventually generate more than $10B in annual revenue if widely adopted. The move comes as tensions escalate around one of the world’s most critical energy chokepoints, where roughly 20% of global oil supply passes daily. If adopted at scale, Bitcoin may now be entering global maritime trade and energy logistics in one of the most geopolitically sensitive regions on earth.