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Miami Putting The Pieces In Place To Pay Workers With Bitcoin

Miami Putting The Pieces In Place To Pay Workers With Bitcoin
  • Miami’s mayor is going ahead with his plans to pay the city’s employees in Bitcoin.
  • The city will put out a formal request for the proposal as it seeks to cement its place as the cryptocurrency capital of the world.
  • The mayor is one of cryptocurrency’s most vocal enthusiasts and has opened the city doors to estranged Bitcoin miners.

Miami’s mayor is not giving up on his ambitions to commence the payment of workers’ salaries using bitcoin. He comments that the move is a “major priority” for the city.

Wages With Bitcoin? Miami Forges A Path

Francis Suarez, the mayor of Miami has reiterated his desire to allow the government to pay its staff salaries using bitcoin. The multi-pronged proposal will allow the citizens to pay taxes and fees using Bitcoin in what can be described as a pioneering move in the US. The mayor made the revelation in an interview with Bloomberg where he noted that the move will differentiate the city “as a crypto capital of the United States or the world”.

“We’re going for a request for proposal in October to allow our employees to get paid in Bitcoins to allow our residents to pay for fees in Bitcoin and even taxes potentially in Bitcoin if the country allows it,” says the mayor. He says that the decision is a major priority of the government and recall that a similar proposition was made in February that garnered a deal of support from city commissioners.

Speaking on the lack of execution, Suarez said, “If we would’ve been able to hold it from the moment that I put the resolution on our agenda, it’d be up by 30 or 40 percent, so I would’ve looked like a genius back then”. Other impediments against the mayor’s plans are legislations that preclude the city from holding any Bitcoin but still, the move has been propped up by supporters within the government.

Pro Bitcoin Mayor

Francis Suarez has not hidden his preference for Bitcoin and has chosen to advance the cause of the asset at every given opportunity. In June, he declared that the city will be opening its doors to Chinese miners that were the subject of a heated cryptocurrency crackdown. The mayor hinted at the city’s abundance of nuclear power as one incentive that would attract miners, given its inexpensive nature.

During Bitmain’s Digital Mining Conference, the mayor implored attendees to “go out there and elect the next President of The United States to be a pro-Bitcoin president”. His comments are geared towards transforming Miami to be the main cryptocurrency hub of the country while the city has recorded a measure of success with MiamiCoin that netted a significant sum for the city.

Layout of new SQLite descriptor wallets in v0.21 and v22.0

I’m trying to explore the database format of the new descriptor wallets in Bitcoin Core v0.21 and v22.0, but I can’t quite figure it out. I’ve created a new descriptor wallet and dumped it’s contents using SQLite viewers: {wallet.dat}.main.{minversion} = ac970200 {wallet.dat}.main.{walletdescriptorkey, 5bc2366434…be2be5636f} = d63081d302…eb80b8a63f {wallet.dat}.main.{walletdescriptorcache, 5bc2366434…bc00000000} = 4a0481d4f2…e2b5797bc6 {wallet.dat}.main.{walletdescriptorlhcache, 5bc2366434…bc00000000} = 4a0334157e…3cd72210c0 {wallet.dat}.main.{activeexternalspk, 00}::Listen

I’m trying to explore the database format of the new descriptor wallets in Bitcoin Core v0.21 and v22.0, but I can’t quite figure it out. I’ve created a new descriptor wallet and dumped it’s contents using SQLite viewers:

{wallet.dat}.main.{minversion} = ac970200 {wallet.dat}.main.{walletdescriptorkey, 5bc2366434...be2be5636f} = d63081d302...eb80b8a63f {wallet.dat}.main.{walletdescriptorcache, 5bc2366434...bc00000000} = 4a0481d4f2...e2b5797bc6 {wallet.dat}.main.{walletdescriptorlhcache, 5bc2366434...bc00000000} = 4a0334157e...3cd72210c0 {wallet.dat}.main.{activeexternalspk, 00} = 5bc2366434...17e16409bc {wallet.dat}.main.{walletdescriptorkey, 179b711c2e...be2be5636f} = d63081d302...eb80b8a63f {wallet.dat}.main.{walletdescriptorcache, 179b711c2e...3a00000000} = 4a04c1b8ae...534fc80e4a {wallet.dat}.main.{walletdescriptorlhcache, 179b711c2e...3a00000000} = 4a03774319...6b8a432640 {wallet.dat}.main.{activeexternalspk, 01} = 179b711c2e...5fffee163a {wallet.dat}.main.{walletdescriptorkey, 7cf4a0f984...be2be5636f} = d63081d302...eb80b8a63f {wallet.dat}.main.{walletdescriptorcache, 7cf4a0f984...4b00000000} = 4a045ffe0a...0d113a8596 {wallet.dat}.main.{walletdescriptorlhcache, 7cf4a0f984...4b00000000} = 4a03673c1f...e647a32c18 {wallet.dat}.main.{activeexternalspk, 02} = 7cf4a0f984...8c3dd80a4b {wallet.dat}.main.{walletdescriptorkey, 7457e8edcb...be2be5636f} = d63081d302...eb80b8a63f {wallet.dat}.main.{walletdescriptorcache, 7457e8edcb...d300000000} = 4a0481d4f2...c713790faf {wallet.dat}.main.{walletdescriptorlhcache, 7457e8edcb...d300000000} = 4a0334157e...3cd72210c0 {wallet.dat}.main.{activeinternalspk, 00} = 7457e8edcb...d76c288ed3 {wallet.dat}.main.{walletdescriptorkey, ccd36c1209...be2be5636f} = d63081d302...eb80b8a63f {wallet.dat}.main.{walletdescriptorcache, ccd36c1209...9400000000} = 4a04c1b8ae...18821059e5 {wallet.dat}.main.{walletdescriptorlhcache, ccd36c1209...9400000000} = 4a03774319...6b8a432640 {wallet.dat}.main.{activeinternalspk, 01} = ccd36c1209...ef094d8e94 {wallet.dat}.main.{walletdescriptorkey, db2cf1cdc6...be2be5636f} = d63081d302...eb80b8a63f {wallet.dat}.main.{walletdescriptorcache, db2cf1cdc6...6d00000000} = 4a045ffe0a...497189e5c3 {wallet.dat}.main.{walletdescriptorlhcache, db2cf1cdc6...6d00000000} = 4a03673c1f...e647a32c18 {wallet.dat}.main.{flags} = 0000000004000000 {wallet.dat}.main.{activeinternalspk, 02} = db2cf1cdc6...0129f3106d {wallet.dat}.main.{walletdescriptor, db2cf1cdc6...0129f3106d} = wpkh(tpubD...)#znsakxap, 13159b6100...00e8030000 {wallet.dat}.main.{walletdescriptor, 7457e8edcb...d76c288ed3} = pkh(tpubD6...)#25g5mpq6, 12159b6100...00e8030000 {wallet.dat}.main.{walletdescriptor, 5bc2366434...17e16409bc} = pkh(tpubD6...)#mqd4x5sz, 11159b6100...00e8030000 {wallet.dat}.main.{walletdescriptor, 179b711c2e...5fffee163a} = sh(wpkh(tp...)#0v4dg3a0, 11159b6100...00e8030000 {wallet.dat}.main.{walletdescriptor, 7cf4a0f984...8c3dd80a4b} = wpkh(tpubD...)#n84utnde, 12159b6100...00e8030000 {wallet.dat}.main.{walletdescriptor, ccd36c1209...ef094d8e94} = sh(wpkh(tp...)#f0agnukm, 13159b6100...00e8030000 {wallet.dat}.main.{bestblock} = 605b030000 {wallet.dat}.main.{bestblock_nomerkle} = 605b030021...0900000000 

The descriptors fields clearly show the tpubs, and there may be private keys in the *spk fields. But in order to do BIP32 derivations, you need both a private key and a chain-code.

I can’t seem to create the tprvs from the tpubs, even given private keys. I’ve looked through the code at commit 4018e23, and have some vague ideas on how it is constructed, but can’t quite seem to figure out which fields hold either a private key and chain-code, or simply a tprv.

There is also the possibility that the key value itself is actually encrypted at rest in the database, but I had assumed that these would use the walletdescriptorckey field for crypted-key as opposed to the walletdescriptorkey fields. Notice my dump only contains *rkey fields and no rckey fields.

I realize that the next release will expose the tprv in the future listdescriptors command, but I was trying to figure out how PR#21500 did it.

The code to create the SQL dump file is… essentially:

from sqlite_utils import Database  if __name__ == "__main__":     db=Database("wallet.dat")     for row in db['main'].rows:         key = fmt_key(row['key'])         value = fmt_key(row['value'])                  pref = "{wallet.dat}.main."         print(f"{pref}{{{key}}} = {value}") 

An unabridged copy of the the code and the data can be found here:

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Miami Putting The Pieces In Place To Pay Workers With Bitcoin

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