Forwarded from CSW - Slack Channel (@RamonQuesada 🌷)
It is very simple.
If you are building node software your job is to build a system that follows the protocol exactly. Not 99.9999999999999999999999999999999999999% - that is insufficient. 100%. No exceptions.
Your next requirement is to completely utterly ignore any Twitter troll telling you about things that they need fixed for their wallet because they are inadequate. This is the point, those developers on Twitter who cannot fix their wallet are inadequate. That’s their problem. If they cannot continue, competition will replace them. This is capitalism.
When those building applications failed to make a simple check that ensures the transaction they are receiving has not been seen on the network before, and by that I mean that every input transaction is completely unseen, and that the fees are at least the minimum amount… Then very simply that person can go out of business. I have no problem with this. In fact, it improves the ecosystem. They can either learn to be better developers or they can move on to something else. Don’t think that there’s any other way of looking at this. We want people in the system who can design something and not whine about changing it. If you mark up your web application because you failed to correctly encode the protocol specification, you don’t go to the various protocol specification bodies on the Internet including the IEEE, IETF, IESG and W3C and continue to bitch to them. You fix the application.
This is not a difficult concept. If you build the application and you don’t include all of the requirements, fix your application. Bitcoin does not change for you.
CSW
Feb 26, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645875168986649?thread_ts=1645875168.986649&cid=C5131HKFX
https://t.me/CSW_Slack/4087
If you are building node software your job is to build a system that follows the protocol exactly. Not 99.9999999999999999999999999999999999999% - that is insufficient. 100%. No exceptions.
Your next requirement is to completely utterly ignore any Twitter troll telling you about things that they need fixed for their wallet because they are inadequate. This is the point, those developers on Twitter who cannot fix their wallet are inadequate. That’s their problem. If they cannot continue, competition will replace them. This is capitalism.
When those building applications failed to make a simple check that ensures the transaction they are receiving has not been seen on the network before, and by that I mean that every input transaction is completely unseen, and that the fees are at least the minimum amount… Then very simply that person can go out of business. I have no problem with this. In fact, it improves the ecosystem. They can either learn to be better developers or they can move on to something else. Don’t think that there’s any other way of looking at this. We want people in the system who can design something and not whine about changing it. If you mark up your web application because you failed to correctly encode the protocol specification, you don’t go to the various protocol specification bodies on the Internet including the IEEE, IETF, IESG and W3C and continue to bitch to them. You fix the application.
This is not a difficult concept. If you build the application and you don’t include all of the requirements, fix your application. Bitcoin does not change for you.
CSW
Feb 26, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645875168986649?thread_ts=1645875168.986649&cid=C5131HKFX
https://t.me/CSW_Slack/4087
Telegram
CSW - Slack Channel
CSW
Feb 26, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645875168986649?thread_ts=1645875168.986649&cid=C5131HKFX
https://t.me/CSW_Slack/4087
Feb 26, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645875168986649?thread_ts=1645875168.986649&cid=C5131HKFX
https://t.me/CSW_Slack/4087
Forwarded from febles24
Telegraph
The Vision for Bitcoin
Blog > Bitcoin & Blockchain Tech
Forwarded from CSW - Slack Channel (@RamonQuesada 🌷)
Dr Craig S Wright on How the BSV Blockchain Will Bring Enhanced Privacy and Security to the Internet
by Team nChain
https://nchain.com/dr-craig-s-wright-on-how-the-bsv-blockchain-will-bring-enhanced-privacy-and-security-to-the-internet/
by Team nChain
https://nchain.com/dr-craig-s-wright-on-how-the-bsv-blockchain-will-bring-enhanced-privacy-and-security-to-the-internet/
nChain
Dr Craig S Wright on How the BSV Blockchain Will Bring Enhanced Privacy and Security to the Internet - nChain
nChain’s Chief Scientist, Dr Craig S Wright, gave a keynote presentation on March 9, 2022, at the IEEE Blockchain Symposium, organised by the IEEE UAE Blockchain Group. In the speech, Dr Wright shared insights into solutions that can help power the modern…
Forwarded from BSV Videos 🎥 (₿SV Videos 🎥)
OP RETURN vs. OP PUSHDATA
https://www.youtube.com/watch?v=P5LXK2tVZB8
Joshua Henslee - 15/Mar/2022
--
by @BSVVideosBot / @BSVBots
https://www.youtube.com/watch?v=P5LXK2tVZB8
Joshua Henslee - 15/Mar/2022
--
by @BSVVideosBot / @BSVBots
YouTube
OP RETURN vs. OP PUSHDATA
In this presentation, I review why OP_PUSHDATA is not a panacea when it comes to storing data on-chain.
Ryan X. Charles video to Roger Ver explaining economics to him (that was ignored by him):
https://youtu.be/-cTNRhc4Jrw
Xiaohui Liu from sCrypt on how…
Ryan X. Charles video to Roger Ver explaining economics to him (that was ignored by him):
https://youtu.be/-cTNRhc4Jrw
Xiaohui Liu from sCrypt on how…
Forwarded from CSW - Slack Channel (@RamonQuesada 🌷)
The bitcoin block header.
Proof of work has no relation to congestion. The introduction of a Merkle structure or binary tree structure means that the mining or proof of work function only must process a small header that at any time in any system would be less than 1 kB. The bitcoin block header is just the eighty-byte string. This in total combines:
a 4-byte long Bitcoin version number,
a 32-byte previous block hash,
a 32-byte long Merkle root (Binary tree hash),
a 4-byte long timestamp referencing the block,
4-byte long difficulty target attributed to the block, and
a 4-byte long nonce used by the nodes (miners).
Consequently, it doesn’t matter whether the block size is 1 MB and contains four transactions a second or rather that the block sizes 1 TB and contains millions of transactions every second of use. The mining process is exactly the same.
Equally, if you consider proof of stake, the number of transactions that need to be processed does not change the size of the blocks. To transact and send 1 million transaction still requires 1 million times the transaction size no matter whether you’re using proof of stake or proof of work. The argument against either of these is a non sequitur.
The simple answer is no matter what system, to validate transactions requires that you have a record of those transactions. The alternative that people talk about, layer 2 solutions is really adding a trusted intermediary. An example of a layer 2 solution that already exists and works well is Coinbase. This exchange has a traditional database that allocates amounts of bitcoin. Of course, this completely ignores the purpose of bitcoin.
The cost of mining one transaction is the same as the cost of mining 100 billion transactions from a proof of work perspective.
Miners work on the header.
They do not send the entire block to the PoW process. The validation can be parellelised.
CSW
Nov 8, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1636376625426000?thread_ts=1636376625.426000&cid=C5131HKFX
https://t.me/CSW_Slack/3340
Proof of work has no relation to congestion. The introduction of a Merkle structure or binary tree structure means that the mining or proof of work function only must process a small header that at any time in any system would be less than 1 kB. The bitcoin block header is just the eighty-byte string. This in total combines:
a 4-byte long Bitcoin version number,
a 32-byte previous block hash,
a 32-byte long Merkle root (Binary tree hash),
a 4-byte long timestamp referencing the block,
4-byte long difficulty target attributed to the block, and
a 4-byte long nonce used by the nodes (miners).
Consequently, it doesn’t matter whether the block size is 1 MB and contains four transactions a second or rather that the block sizes 1 TB and contains millions of transactions every second of use. The mining process is exactly the same.
Equally, if you consider proof of stake, the number of transactions that need to be processed does not change the size of the blocks. To transact and send 1 million transaction still requires 1 million times the transaction size no matter whether you’re using proof of stake or proof of work. The argument against either of these is a non sequitur.
The simple answer is no matter what system, to validate transactions requires that you have a record of those transactions. The alternative that people talk about, layer 2 solutions is really adding a trusted intermediary. An example of a layer 2 solution that already exists and works well is Coinbase. This exchange has a traditional database that allocates amounts of bitcoin. Of course, this completely ignores the purpose of bitcoin.
The cost of mining one transaction is the same as the cost of mining 100 billion transactions from a proof of work perspective.
Miners work on the header.
They do not send the entire block to the PoW process. The validation can be parellelised.
CSW
Nov 8, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1636376625426000?thread_ts=1636376625.426000&cid=C5131HKFX
https://t.me/CSW_Slack/3340
Telegram
CSW - Slack Channel
CSW
Nov 8, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1636376625426000?thread_ts=1636376625.426000&cid=C5131HKFX
https://t.me/CSW_Slack/3340
Nov 8, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1636376625426000?thread_ts=1636376625.426000&cid=C5131HKFX
https://t.me/CSW_Slack/3340