Bitcoin is *not* currency. Currency is current money and requires legal recognition as tender.
Bitcoin is property. It is a form of digital asset that may be exchanged as cash.
There ios NOTHING in the WP that notes Tender. Not even a hint of a hint
Tender is a specific term of art - it is a money that is used in fulfilment of a debt from a court as deemed by Law.
USD is NOT tender in the UK - nor can it be made to be
Euro is NOT tender in Canada
Bitcoin CANNOT be legal tender - Gold was never legal tender. EVER IN human history
I have not even implied once ever that Bitcoin is an investment vehicle - where the fuck does that come from?!!?!?!?!
Property has nothing at all do do with investment - your pot noodles are property - yet they are hardly an investment (note I did not use toilet paper right now as an example...)
Cash is by definition PROPERTY!
Can people please look at what the works mean.
Bitcoin cannot be legal tender as it is not region specific.
Legal tender, say USD or a digital Euro can be created in Bitcoin.
That DOES NOT make Bitcoin legal tender in any sense.
Tender is the legal definition.
The fact that people use words incorrectly - meh.
Go to a court and seek a judgement and say, well I mean X when the rest of the world thinks Y and... well no judge will entertain you
I am not trying to come across as an ass, I know that I can
A magic grey metal that can be sent via the internet
Bitcoin is a set of tokens, the tokens are property.
Keys are not the tokens.
You can own tokens without ownership of the key.
Web wallets and custodial services allow this.
A bank is NOT a depository and Bitcoin DOES NOT replace banks
A bank cannot work without the structure it has and society cannot work without banks
The poor are unbanked as they cannot get access to loans, leases, and other methods to raise and distribute capital
Bitcoin DOES NOT SOLVE THIS!
It does allow the poor to trade - and in time, build a source of savings without a bank such that they could in time have enough wealth to go to a bank
Banks have savings and current accounts
In a savings account, the bank uses the money in a long term manner.
A cheque or current account t is different - the bank must hold the money on hand - and they charge fees for this
People have stopped using chequing or current accounts as they have been mislead by idiots outside of banking into thinking all accounts should be free.
Current accounts do not earn the bank money, they are a cost.
No home loans are derived from current accounts - no car leases, no business fiance
Please do not make Bitcoin something it was never designed to be.
Banks have more than cash. Society will not run on cash and no more - we are beyond that and the only way back is to go back to the 1800s
and to remove 6 billion people - as there is no way an earth with old financial systems will support more than a billion people
Custodial is 0.0000000000000000000000001% of what banks are about
And, there are nearly no current accounts used now - just old farts like me
CSW
Mar 14, 2020
https://metanet-icu.slack.com/archives/C5131HKFX/p1584181358340100
https://t.me/CSW_Slack/2350
Bitcoin is property. It is a form of digital asset that may be exchanged as cash.
There ios NOTHING in the WP that notes Tender. Not even a hint of a hint
Tender is a specific term of art - it is a money that is used in fulfilment of a debt from a court as deemed by Law.
USD is NOT tender in the UK - nor can it be made to be
Euro is NOT tender in Canada
Bitcoin CANNOT be legal tender - Gold was never legal tender. EVER IN human history
I have not even implied once ever that Bitcoin is an investment vehicle - where the fuck does that come from?!!?!?!?!
Property has nothing at all do do with investment - your pot noodles are property - yet they are hardly an investment (note I did not use toilet paper right now as an example...)
Cash is by definition PROPERTY!
Can people please look at what the works mean.
Bitcoin cannot be legal tender as it is not region specific.
Legal tender, say USD or a digital Euro can be created in Bitcoin.
That DOES NOT make Bitcoin legal tender in any sense.
Tender is the legal definition.
The fact that people use words incorrectly - meh.
Go to a court and seek a judgement and say, well I mean X when the rest of the world thinks Y and... well no judge will entertain you
I am not trying to come across as an ass, I know that I can
A magic grey metal that can be sent via the internet
Bitcoin is a set of tokens, the tokens are property.
Keys are not the tokens.
You can own tokens without ownership of the key.
Web wallets and custodial services allow this.
A bank is NOT a depository and Bitcoin DOES NOT replace banks
A bank cannot work without the structure it has and society cannot work without banks
The poor are unbanked as they cannot get access to loans, leases, and other methods to raise and distribute capital
Bitcoin DOES NOT SOLVE THIS!
It does allow the poor to trade - and in time, build a source of savings without a bank such that they could in time have enough wealth to go to a bank
Banks have savings and current accounts
In a savings account, the bank uses the money in a long term manner.
A cheque or current account t is different - the bank must hold the money on hand - and they charge fees for this
People have stopped using chequing or current accounts as they have been mislead by idiots outside of banking into thinking all accounts should be free.
Current accounts do not earn the bank money, they are a cost.
No home loans are derived from current accounts - no car leases, no business fiance
Please do not make Bitcoin something it was never designed to be.
Banks have more than cash. Society will not run on cash and no more - we are beyond that and the only way back is to go back to the 1800s
and to remove 6 billion people - as there is no way an earth with old financial systems will support more than a billion people
Custodial is 0.0000000000000000000000001% of what banks are about
And, there are nearly no current accounts used now - just old farts like me
CSW
Mar 14, 2020
https://metanet-icu.slack.com/archives/C5131HKFX/p1584181358340100
https://t.me/CSW_Slack/2350
Telegram
CSW - Slack Channel
CSW
Mar 14, 2020
https://metanet-icu.slack.com/archives/C5131HKFX/p1584181358340100
https://t.me/CSW_Slack/2350
Mar 14, 2020
https://metanet-icu.slack.com/archives/C5131HKFX/p1584181358340100
https://t.me/CSW_Slack/2350
Bitcoin can only be used as a safe haven if it is *Used*!
Right now, there is a rush for cash.
Companies do not want Gold, nor Bonds.
Neither will aid their survival through a depression. Only cash will.
In a recession, cash is king.
If bitcoin was not hijacked, this would be where global business rushed into bitcoin. But, like gold, BTC does not allow direct trade.
You cannot directly spend bitcoin now, you could in 2013.
Bitcoin is cash, and as cash it is valuable.
https://www.kitco.com/news/2020-03-19/Gold-prices-can-fall-to-1-300-an-ounce-as-recession-looms-IHS-Markit.html
Gold was a good cash substitute only when gold was directly linked to the USD, Pound etc.
It is now an archaic anachronism. An atavistic throwback to an age without technology.
Bitcoin should not be trying to be gold. Right now, gold is falling. Cash, USD, etc is king.
Bitcoin can only win as cash.
Please stop thinking that there is some change - that the world falls apart and the Internet remains.
There is not. The world grows or we all end.
There is nothing else.
My primary reason to create Bitcoin is the ability to conduct Micro-payments and digital cash.
I do not like the manipulation of the Central Banks - and more I loathe the use of debt instruments as they are deployed
But, Bitcoin does not solve this unless it is used extensively as cash and more
Bitcoin needs to be a common and ubiquitous method of payment and exchange if it is to have any use in opening competition between central banks and the people who use money.
If you want Bitcoin to become a measuring stick, as Gold was, that limits the CBs, then it is necessary to first have it as a commonly used means of savings and payment
Cash first.
Then, more follows.
I am not defending the Fed nor USD
I am stating fact
Not all facts are good
For bitcoin to become all that can be, for it to be a measuring stick against the US dollar it needs to 1st become the primary medium used by the majority of people in the world in some manner. To do this, it can become a micro payment system and cash. At that point when people hold bitcoin and other currencies, they can very quickly see the discrepancies between an appreciating asset that values based on scarcity and supply needs against and inflating supply.
However, without the ability for bitcoin to be used and for it to be distributed across the majority of the world's population in some form that is not the store of value mantra but rather one that involves monetary velocity and use, bitcoin becomes merely a Ponzi and eventually fails.
As I keep stating, my goal is a long-term. By this I do not mean five years but rather more like 20 to 30 years. For us to start creating a system that will enable everything I've been talking about requires that we create a system that is used first of all for the primary purpose that bitcoin solves that no other system can, micro payments
This end is not achieved through attacking central banks head on. It is not achieved by taking on the US government and it is not achieved by kicking the proverbial gorilla in the nuts
CSW
Mar 20, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1584692477235700?thread_ts=1584692477.235700&cid=C5131HKFX
https://t.me/CSW_Slack/2353
Right now, there is a rush for cash.
Companies do not want Gold, nor Bonds.
Neither will aid their survival through a depression. Only cash will.
In a recession, cash is king.
If bitcoin was not hijacked, this would be where global business rushed into bitcoin. But, like gold, BTC does not allow direct trade.
You cannot directly spend bitcoin now, you could in 2013.
Bitcoin is cash, and as cash it is valuable.
https://www.kitco.com/news/2020-03-19/Gold-prices-can-fall-to-1-300-an-ounce-as-recession-looms-IHS-Markit.html
Gold was a good cash substitute only when gold was directly linked to the USD, Pound etc.
It is now an archaic anachronism. An atavistic throwback to an age without technology.
Bitcoin should not be trying to be gold. Right now, gold is falling. Cash, USD, etc is king.
Bitcoin can only win as cash.
Please stop thinking that there is some change - that the world falls apart and the Internet remains.
There is not. The world grows or we all end.
There is nothing else.
My primary reason to create Bitcoin is the ability to conduct Micro-payments and digital cash.
I do not like the manipulation of the Central Banks - and more I loathe the use of debt instruments as they are deployed
But, Bitcoin does not solve this unless it is used extensively as cash and more
Bitcoin needs to be a common and ubiquitous method of payment and exchange if it is to have any use in opening competition between central banks and the people who use money.
If you want Bitcoin to become a measuring stick, as Gold was, that limits the CBs, then it is necessary to first have it as a commonly used means of savings and payment
Cash first.
Then, more follows.
I am not defending the Fed nor USD
I am stating fact
Not all facts are good
For bitcoin to become all that can be, for it to be a measuring stick against the US dollar it needs to 1st become the primary medium used by the majority of people in the world in some manner. To do this, it can become a micro payment system and cash. At that point when people hold bitcoin and other currencies, they can very quickly see the discrepancies between an appreciating asset that values based on scarcity and supply needs against and inflating supply.
However, without the ability for bitcoin to be used and for it to be distributed across the majority of the world's population in some form that is not the store of value mantra but rather one that involves monetary velocity and use, bitcoin becomes merely a Ponzi and eventually fails.
As I keep stating, my goal is a long-term. By this I do not mean five years but rather more like 20 to 30 years. For us to start creating a system that will enable everything I've been talking about requires that we create a system that is used first of all for the primary purpose that bitcoin solves that no other system can, micro payments
This end is not achieved through attacking central banks head on. It is not achieved by taking on the US government and it is not achieved by kicking the proverbial gorilla in the nuts
CSW
Mar 20, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1584692477235700?thread_ts=1584692477.235700&cid=C5131HKFX
https://t.me/CSW_Slack/2353
Since 2007. At some point I became convinced there was a way to do this without any trust required at all and couldn't resist to keep thinking about it. Much more of the work was designing than coding.
Users can link identity.
See Section 10 of my Whitepaper.
At no point is identity removed from bitcoin. Rather, in the new privacy model of bitcoin identities are exchanged where needed between individual parties. Today, there are laws for cash and the transaction of money using cash. Because you're using cash does not mean that you can avoid recording identity.
Know your customer requirements, customer due diligence and anti-money laundering laws all cover cash.
https://www.gov.uk/guidance/money-laundering-regulations-high-value-dealer-registration
Whether it is a single transaction or multiples, where the value is €10,000 or more, the person transacting would require registration as a high-value dealer.
This even applies if you make instalments or payments on account. Bitcoin is a cash money system. Consequently, all of the money laundering regulations concerning cash will apply.
If you're receiving small amounts of money, not only micro-payments but even if you're running a coffee shop or restaurant, there will be no requirement to register as a high-value dealer. A real estate broker offering commercial leases could easily exceed this amount and thus have to require registration.
The majority of exchanges made using bitcoin will not require registration. Any exchange or custodial service will require registration. Local bitcoin and related organisations will require registration. When people go wrong is to think that normal everyday coffee shops and related organisations will require registration.
The need for trust is mitigated using registered identity based keys and hierarchies of linked keys.
CSW
Mar 26, 2020
https://metanet-icu.slack.com/archives/C5131HKFX/p1585249153076800?thread_ts=1585249153.076800&cid=C5131HKFX
https://t.me/CSW_Slack/2355
Users can link identity.
See Section 10 of my Whitepaper.
At no point is identity removed from bitcoin. Rather, in the new privacy model of bitcoin identities are exchanged where needed between individual parties. Today, there are laws for cash and the transaction of money using cash. Because you're using cash does not mean that you can avoid recording identity.
Know your customer requirements, customer due diligence and anti-money laundering laws all cover cash.
https://www.gov.uk/guidance/money-laundering-regulations-high-value-dealer-registration
Whether it is a single transaction or multiples, where the value is €10,000 or more, the person transacting would require registration as a high-value dealer.
This even applies if you make instalments or payments on account. Bitcoin is a cash money system. Consequently, all of the money laundering regulations concerning cash will apply.
If you're receiving small amounts of money, not only micro-payments but even if you're running a coffee shop or restaurant, there will be no requirement to register as a high-value dealer. A real estate broker offering commercial leases could easily exceed this amount and thus have to require registration.
The majority of exchanges made using bitcoin will not require registration. Any exchange or custodial service will require registration. Local bitcoin and related organisations will require registration. When people go wrong is to think that normal everyday coffee shops and related organisations will require registration.
The need for trust is mitigated using registered identity based keys and hierarchies of linked keys.
CSW
Mar 26, 2020
https://metanet-icu.slack.com/archives/C5131HKFX/p1585249153076800?thread_ts=1585249153.076800&cid=C5131HKFX
https://t.me/CSW_Slack/2355
GOV.UK
Money laundering supervision for high value dealers
Find out if you’re a high value dealer and need to register with HMRC under the money laundering regulations.
Hash does not secure the network.
This crazy BTC bull shit that hash rate is the security mechanism is wrong. The proof of work hash rate calculation is an economic signal. It is a game theoretic process that allows miners to be recognised and for law to take action. It is how we keep miners honest.
CSW
Apr 9, 2020
https://metanet-icu.slack.com/archives/C5131HKFX/p1586452690189500?thread_ts=1586448127.185400&cid=C5131HKFX
This crazy BTC bull shit that hash rate is the security mechanism is wrong. The proof of work hash rate calculation is an economic signal. It is a game theoretic process that allows miners to be recognised and for law to take action. It is how we keep miners honest.
CSW
Apr 9, 2020
https://metanet-icu.slack.com/archives/C5131HKFX/p1586452690189500?thread_ts=1586448127.185400&cid=C5131HKFX
Something people haven't thought about. If bitcoin is not used as cash, it won't be an inflation hedge. This concept of store of value and protecting against inflation is absolutely asinine when the asset has no use.
People have been selling shares to get cash. If you cannot spend bitcoin as money, then people will start to sell it. The same goes for any crypto. If we had bitcoin as a medium of exchange, right now the market would be flocking towards bitcoin. Cash is at a premium right now. If bitcoin was used as a cash based money system today, and not subverted and hardly used as it is, it would have a global rush to bitcoin. Instead we see a global rush to US dollars and euros.
Worse, when the average person finally gets shitted off with the government control tactics and fear mongering and we just start working and CV19 can go to hell, then money will flow out of Bitcoin even faster.
CSW
May 14, 2020
https://metanet-icu.slack.com/archives/C5131HKFX/p1589452266223600?thread_ts=1589452266.223600&cid=C5131HKFX
https://t.me/CSW_Slack/2361
People have been selling shares to get cash. If you cannot spend bitcoin as money, then people will start to sell it. The same goes for any crypto. If we had bitcoin as a medium of exchange, right now the market would be flocking towards bitcoin. Cash is at a premium right now. If bitcoin was used as a cash based money system today, and not subverted and hardly used as it is, it would have a global rush to bitcoin. Instead we see a global rush to US dollars and euros.
Worse, when the average person finally gets shitted off with the government control tactics and fear mongering and we just start working and CV19 can go to hell, then money will flow out of Bitcoin even faster.
CSW
May 14, 2020
https://metanet-icu.slack.com/archives/C5131HKFX/p1589452266223600?thread_ts=1589452266.223600&cid=C5131HKFX
https://t.me/CSW_Slack/2361
Telegram
CSW - Slack Channel
1/2
What you going to soon find out is that most of what the other side have if not all is a combination of hearsay and character attacks. It is been difficult not responding on much of this for a period of over two years. But for instance, they talk about made up companies in the trust and said that they didn't exist because this is all they have.
This is the part that nobody wants you to look at.
Craig Wright R&D was the original name of the trust. Even though the trust was overseas, I registered these in Australia. As trustee I acted for it is an overseas entity. When they say how this didn't exist, or that the trust didn't exist, that is one little problem. The problem is that I registered it for an Australian business number.
Craig Wright R&D and the other entities as businesses representing the trusts have been registered since 29 February 2000. It was reformed under the trust business name for myself, remembering that a business called Craig Wright is not Craig Wright the person, on 10 February 2007. This is when I started creating bitcoin.
At that point I changed from DeMorgan to using myself as the trustee name. There are multiple other overseas trusts that were registered in Australia.
These all have records. These are not as difficult to check as people think either.
In January 2009 I formed a company called information defence in Australia.
In May 2009 I formed a company called integyrs in Australia.
In June 2009 with other people I formed a company called Greyfog in Australia. Others such as Cloudcroft all followed before Panopticrypt was formed in 2011.
All of these entities were held in trust. That is my shares were held in trust.
What people don't seem to understand is that the legal owner of an asset is the trustee and the trust maintains equitable ownership.
Tulip is simply the renamed version of the trust called Craig Wright R&D and DeMorgan at various times in history.
The overseas companies owned the Australian companies.
The Australian companies did the creation of intellectual property and any activity such as bitcoin mining. Many of the activities that I did I published widely and hence the intellectual property in those has been given freely to the world.
More importantly, every single bitcoin was created on the launch of bitcoin in January 2009. At that point I was controlling a company in Australia that owned all of the just under 21 million bitcoin denominated tokens that would ever exist.
Bitcoin was created using what is known in legal circles as a unilateral contract, this is a concept that even a junior law student would understand. See carbolic Smoke Ball.
In 2009, there was no millions in bitcoin as some people seem to think. There was around $2 million worth of running computers that was cost coupled with further sunk costs. The value of the bitcoin was nothing. It was not the value of computer hardware, it was only the value that people would be willing to pay for it and that was zero right up until 2010.
The interesting thing that people don't understand in an analysis of partnership, if there was one with Dave, he would owe me money. There isn't of course but the reality is partners have to share cost and profit.
The distribution was created on the launch of bitcoin. It's not the distributor, that is a process. The contract is the issue, I am simply put the issuer.
The distinction here is that bitcoin is issued initially without value and hence in the manner it was issued there isn't all the problems people speculate about. By creating bitcoin and launching it the way I did, all of the increase in value was created after the launch. More importantly, it took a lot of money, time and machines to be able to enable all of this.
CSW
May 26, 2020
https://metanet-icu.slack.com/archives/C5131HKFX/p1590505437082800?thread_ts=1590505437.082800&cid=C5131HKFX
1/2
https://t.me/CSW_Slack/2365
What you going to soon find out is that most of what the other side have if not all is a combination of hearsay and character attacks. It is been difficult not responding on much of this for a period of over two years. But for instance, they talk about made up companies in the trust and said that they didn't exist because this is all they have.
This is the part that nobody wants you to look at.
Craig Wright R&D was the original name of the trust. Even though the trust was overseas, I registered these in Australia. As trustee I acted for it is an overseas entity. When they say how this didn't exist, or that the trust didn't exist, that is one little problem. The problem is that I registered it for an Australian business number.
Craig Wright R&D and the other entities as businesses representing the trusts have been registered since 29 February 2000. It was reformed under the trust business name for myself, remembering that a business called Craig Wright is not Craig Wright the person, on 10 February 2007. This is when I started creating bitcoin.
At that point I changed from DeMorgan to using myself as the trustee name. There are multiple other overseas trusts that were registered in Australia.
These all have records. These are not as difficult to check as people think either.
In January 2009 I formed a company called information defence in Australia.
In May 2009 I formed a company called integyrs in Australia.
In June 2009 with other people I formed a company called Greyfog in Australia. Others such as Cloudcroft all followed before Panopticrypt was formed in 2011.
All of these entities were held in trust. That is my shares were held in trust.
What people don't seem to understand is that the legal owner of an asset is the trustee and the trust maintains equitable ownership.
Tulip is simply the renamed version of the trust called Craig Wright R&D and DeMorgan at various times in history.
The overseas companies owned the Australian companies.
The Australian companies did the creation of intellectual property and any activity such as bitcoin mining. Many of the activities that I did I published widely and hence the intellectual property in those has been given freely to the world.
More importantly, every single bitcoin was created on the launch of bitcoin in January 2009. At that point I was controlling a company in Australia that owned all of the just under 21 million bitcoin denominated tokens that would ever exist.
Bitcoin was created using what is known in legal circles as a unilateral contract, this is a concept that even a junior law student would understand. See carbolic Smoke Ball.
In 2009, there was no millions in bitcoin as some people seem to think. There was around $2 million worth of running computers that was cost coupled with further sunk costs. The value of the bitcoin was nothing. It was not the value of computer hardware, it was only the value that people would be willing to pay for it and that was zero right up until 2010.
The interesting thing that people don't understand in an analysis of partnership, if there was one with Dave, he would owe me money. There isn't of course but the reality is partners have to share cost and profit.
The distribution was created on the launch of bitcoin. It's not the distributor, that is a process. The contract is the issue, I am simply put the issuer.
The distinction here is that bitcoin is issued initially without value and hence in the manner it was issued there isn't all the problems people speculate about. By creating bitcoin and launching it the way I did, all of the increase in value was created after the launch. More importantly, it took a lot of money, time and machines to be able to enable all of this.
CSW
May 26, 2020
https://metanet-icu.slack.com/archives/C5131HKFX/p1590505437082800?thread_ts=1590505437.082800&cid=C5131HKFX
1/2
https://t.me/CSW_Slack/2365
Telegram
CSW - Slack Channel
CSW
May 26, 2020
https://metanet-icu.slack.com/archives/C5131HKFX/p1590505437082800?thread_ts=1590505437.082800&cid=C5131HKFX
https://t.me/CSW_Slack/2365
May 26, 2020
https://metanet-icu.slack.com/archives/C5131HKFX/p1590505437082800?thread_ts=1590505437.082800&cid=C5131HKFX
https://t.me/CSW_Slack/2365
"...on 10 February 2007. This is when I started creating bitcoin."
CSW
May 26, 2020
https://metanet-icu.slack.com/archives/C5131HKFX/p1590505437082800?thread_ts=1590505437.082800&cid=C5131HKFX
https://t.me/CSW_Slack/2366
CSW
May 26, 2020
https://metanet-icu.slack.com/archives/C5131HKFX/p1590505437082800?thread_ts=1590505437.082800&cid=C5131HKFX
https://t.me/CSW_Slack/2366
OP_PushData <Data>
IF
Value = <data>
OR
Value = Hash(Hash<data>)
SPV can be extended to allow the option of supplying either the data or the hash of the data. Transactions can be constructed that differ because some parts of the branch have been pruned but not others allowing for a SPV node that hold the complete data while the miners hold only the hash.
I have to assume that people are not getting this yet
SPV can have a subset of the entire Blockchain linked using the block headers
By this, a complete set of data in an archive can be verified as well as made to be accessed quickly
The SPV node holding the data can charge for access.
The rate of access is something that people will pay for. if you want a quick computation, you pay more money.
Nodes that are holding selected components out of the entire Blockchain can still validate everything in the Blockchain that they hold without any of the other transactions that they don't care about or that they are not being paid to hold
You need to understand that when I say an overlay network can be created doesn't necessarily mean that it is separate from the Blockchain but rather that it has only a component of the entire set.
That is a subset of the entire set of blocks can be issued and served separately
I have to stop assuming people understand what I think is simple.
The section on SPV and Pruning are not mutually exclusive
Yes.
It is connected to miners, has a limited set of data
This is all, on chain.
The option is to have slow but forever. Fast but limited
You can choose what you serve up.
SPV does not need just to be your data, others can also save parts of the Blockchain
The process is Ble to be managed in any combination you can imagine
CSW
May 18, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1621358072009500?thread_ts=1621358072.009500&cid=C5131HKFX
https://t.me/CSW_Slack/2367
IF
Value = <data>
OR
Value = Hash(Hash<data>)
SPV can be extended to allow the option of supplying either the data or the hash of the data. Transactions can be constructed that differ because some parts of the branch have been pruned but not others allowing for a SPV node that hold the complete data while the miners hold only the hash.
I have to assume that people are not getting this yet
SPV can have a subset of the entire Blockchain linked using the block headers
By this, a complete set of data in an archive can be verified as well as made to be accessed quickly
The SPV node holding the data can charge for access.
The rate of access is something that people will pay for. if you want a quick computation, you pay more money.
Nodes that are holding selected components out of the entire Blockchain can still validate everything in the Blockchain that they hold without any of the other transactions that they don't care about or that they are not being paid to hold
You need to understand that when I say an overlay network can be created doesn't necessarily mean that it is separate from the Blockchain but rather that it has only a component of the entire set.
That is a subset of the entire set of blocks can be issued and served separately
I have to stop assuming people understand what I think is simple.
The section on SPV and Pruning are not mutually exclusive
Yes.
It is connected to miners, has a limited set of data
This is all, on chain.
The option is to have slow but forever. Fast but limited
You can choose what you serve up.
SPV does not need just to be your data, others can also save parts of the Blockchain
The process is Ble to be managed in any combination you can imagine
CSW
May 18, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1621358072009500?thread_ts=1621358072.009500&cid=C5131HKFX
https://t.me/CSW_Slack/2367
Telegram
CSW - Slack Channel
CSW
May 18, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1621358072009500?thread_ts=1621358072.009500&cid=C5131HKFX
https://t.me/CSW_Slack/2367
May 18, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1621358072009500?thread_ts=1621358072.009500&cid=C5131HKFX
https://t.me/CSW_Slack/2367