What I will state very simply and make sure that people understand is that bitcoin is a legal contract system. There is a unilateral contract that pays miners. Those miners or nodes are paid money to conduct a service. If they don’t do the service, if they attempt to change the protocol or operate outside of the legal boundaries or think that they can do things that are not within the protocol, they are liable for any damages in contract and tort.
Double spend protection is not technical. Like most aspects of Bitcoin, it is a technical constraint linked to an economic condition. In this, if a node, any node does not relay a single transaction and this ends in a double spend, that node is 100% liable for the direct loss and ALL costs. Without execption.
If a 100 millin USD transaction is made with ZERO fees and your node does not relay it, and ANY node connected to you fails to get this and sees a double spend, your node is liable for the loss. The recipient of the double spend and come to you and you will need to pay.
That is how relay fees work
If you have one, you have a HUGE liability
UNLIMITED
Liability
to save SMALL amounts of money
Basically, the entire concept of a relay fee is a stupid idea
And, any miner not forwarding EVERY TX is a dumb fuck who wants to be put out of business.
You do not need to mine a zero fee tx... YOU DO NEED TO FORWARD it as a miner
Not mining and puttin git in a block is separate to not forwarding
Nodes Relay
They are Paid for this - they have a subsidy
CSW
Feb 23, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645622968111309?thread_ts=1645622968.111309&cid=C5131HKFX
https://t.me/CSW_Slack/4060
Double spend protection is not technical. Like most aspects of Bitcoin, it is a technical constraint linked to an economic condition. In this, if a node, any node does not relay a single transaction and this ends in a double spend, that node is 100% liable for the direct loss and ALL costs. Without execption.
If a 100 millin USD transaction is made with ZERO fees and your node does not relay it, and ANY node connected to you fails to get this and sees a double spend, your node is liable for the loss. The recipient of the double spend and come to you and you will need to pay.
That is how relay fees work
If you have one, you have a HUGE liability
UNLIMITED
Liability
to save SMALL amounts of money
Basically, the entire concept of a relay fee is a stupid idea
And, any miner not forwarding EVERY TX is a dumb fuck who wants to be put out of business.
You do not need to mine a zero fee tx... YOU DO NEED TO FORWARD it as a miner
Not mining and puttin git in a block is separate to not forwarding
Nodes Relay
They are Paid for this - they have a subsidy
CSW
Feb 23, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645622968111309?thread_ts=1645622968.111309&cid=C5131HKFX
https://t.me/CSW_Slack/4060
Telegram
CSW - Slack Channel
CSW
Feb 23, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645622968111309?thread_ts=1645622968.111309&cid=C5131HKFX
https://t.me/CSW_Slack/4060
Feb 23, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645622968111309?thread_ts=1645622968.111309&cid=C5131HKFX
https://t.me/CSW_Slack/4060
There are 625,000,000 Sat in Subsidies.
That means, I am not paying miners to mine, I am SUBSIDISING Transactions.
That is a payment to nodes to accept zero fee or LOW fee TXs. It is NOT a payment to do nothing.
At 100 sat a TX, 6.25 Bitcoin a block is a PAYMENT for services, to have nodes include 6.25 million FREE TXs or 12.5 million TX at 50 SATS
If you are a miner, a node and you are taking the subsidy and you are NOT including a LOW of TXs, you are technically in a breach of contract.
Even at 500 SAT a tx, that means a lot of TXs need to be in a block FOR NOTHING
I do not think it should be NOTHING, I think it should be a lot lower
By lower, WAY WAY lower
A miner should be building knowing that fees will drop to 10 sat or lower.
And soon
By soon, 2 years
Or they should decide to forgoe the subsidy...
2140
CSW
Feb 23, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645624023048749?thread_ts=1645624023.048749&cid=C5131HKFX
https://t.me/CSW_Slack/4062
That means, I am not paying miners to mine, I am SUBSIDISING Transactions.
That is a payment to nodes to accept zero fee or LOW fee TXs. It is NOT a payment to do nothing.
At 100 sat a TX, 6.25 Bitcoin a block is a PAYMENT for services, to have nodes include 6.25 million FREE TXs or 12.5 million TX at 50 SATS
If you are a miner, a node and you are taking the subsidy and you are NOT including a LOW of TXs, you are technically in a breach of contract.
Even at 500 SAT a tx, that means a lot of TXs need to be in a block FOR NOTHING
I do not think it should be NOTHING, I think it should be a lot lower
By lower, WAY WAY lower
A miner should be building knowing that fees will drop to 10 sat or lower.
And soon
By soon, 2 years
Or they should decide to forgoe the subsidy...
2140
CSW
Feb 23, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645624023048749?thread_ts=1645624023.048749&cid=C5131HKFX
https://t.me/CSW_Slack/4062
Telegram
CSW - Slack Channel
CSW
Feb 23, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645624023048749?thread_ts=1645624023.048749&cid=C5131HKFX
https://t.me/CSW_Slack/4062
Feb 23, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645624023048749?thread_ts=1645624023.048749&cid=C5131HKFX
https://t.me/CSW_Slack/4062
1 year target
1 million TPS
2 year target
25 million TPS
3 year target
500 million TPS
4 year target
5 billion TPS
5 years....
Not 50k
Fees...
Less
Every year
500 sat, meh
100... shit, but next step
50... better
10 Sat.... close
CSW
Feb 23, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645649634252519?thread_ts=1645649634.252519&cid=C5131HKFX
https://t.me/CSW_Slack/4068
1 million TPS
2 year target
25 million TPS
3 year target
500 million TPS
4 year target
5 billion TPS
5 years....
Not 50k
Fees...
Less
Every year
500 sat, meh
100... shit, but next step
50... better
10 Sat.... close
CSW
Feb 23, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645649634252519?thread_ts=1645649634.252519&cid=C5131HKFX
https://t.me/CSW_Slack/4068
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CSW - Slack Channel
CSW
Feb 23, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645649634252519?thread_ts=1645649634.252519&cid=C5131HKFX
https://t.me/CSW_Slack/4068
Feb 23, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645649634252519?thread_ts=1645649634.252519&cid=C5131HKFX
https://t.me/CSW_Slack/4068
👍1
BTC mining income at peak per block was 320,000 USD.
At scale... BSV on what I pledge is...
6 million USD a block
No. Not pumping price
This works at USD $1 a coin
Game over
Not selling it to speculators
To those serious and seeking to build
If, and I mean IF, you create a TX today and in a decade it fails because of a protocol change...
Hold me liable.
I will not fight it
Bitcoin is set in STONE
CSW
Feb 24, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645658128808039?thread_ts=1645658128.808039&cid=C5131HKFX
https://t.me/CSW_Slack/4073
At scale... BSV on what I pledge is...
6 million USD a block
No. Not pumping price
This works at USD $1 a coin
Game over
Not selling it to speculators
To those serious and seeking to build
If, and I mean IF, you create a TX today and in a decade it fails because of a protocol change...
Hold me liable.
I will not fight it
Bitcoin is set in STONE
CSW
Feb 24, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645658128808039?thread_ts=1645658128.808039&cid=C5131HKFX
https://t.me/CSW_Slack/4073
Telegram
CSW - Slack Channel
CSW
Feb 24, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645658128808039?thread_ts=1645658128.808039&cid=C5131HKFX
https://t.me/CSW_Slack/4073
Feb 24, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645658128808039?thread_ts=1645658128.808039&cid=C5131HKFX
https://t.me/CSW_Slack/4073
👍1
There are two and only two meaningful metrics in the digital cash or digital asset systems that are being promoted.
1. Volume (TPS)
2. Transaction fees
Volume is critically important. The number of transactions per second is the underlying volume of the base system, not so-called layers, as layers by definition is inside the base, and lightning is a separate protocol from bitcoin.
Without access to send hundreds of thousands and millions of transactions per second, not on so-called secondary systems but natively on the Blockchain, there is no purpose, and secondly, the fees will be high.
By volume, the only metric here is to scale into what will eventually become billions of transactions a second. Anything less is meaningless.
Next, the fees are in part related to the ability to directly scale on-chain without so-called boondoggle projects such as lightning and all the artificial limits that others apply.
Transaction fees are the only metric that will achieve success at the end of the day, and this comes only through volume on-chain.
If the fees cannot be kept under one-hundredth of a cent per transaction and ideally under a thousandth of a cent, the system has no point. Bitcoin is a micropayment system. So the so-called BTC and Ethereum boondoggle attempt at anything else will fail.
The only, and I mean only, the purpose of bitcoin is high-volume at low fees. So if anyone tells you that anything above a fraction of a cent is low fees, they are lying and attempting to deceive you.
Bitcoin is a micropayment system, first and foremost.
Bitcoin doesn't replace banks. Instead, Bitcoin enables the unbanked to be part of the digital economy because it creates the first digital cash system. This is what people fear!
I would like a lower fee... in time
But, not speculation.... use
Miners will make more than BTC x1000
CSW
Feb 25, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645815066051229?thread_ts=1645815066.051229&cid=C5131HKFX
https://t.me/CSW_Slack/4077
1. Volume (TPS)
2. Transaction fees
Volume is critically important. The number of transactions per second is the underlying volume of the base system, not so-called layers, as layers by definition is inside the base, and lightning is a separate protocol from bitcoin.
Without access to send hundreds of thousands and millions of transactions per second, not on so-called secondary systems but natively on the Blockchain, there is no purpose, and secondly, the fees will be high.
By volume, the only metric here is to scale into what will eventually become billions of transactions a second. Anything less is meaningless.
Next, the fees are in part related to the ability to directly scale on-chain without so-called boondoggle projects such as lightning and all the artificial limits that others apply.
Transaction fees are the only metric that will achieve success at the end of the day, and this comes only through volume on-chain.
If the fees cannot be kept under one-hundredth of a cent per transaction and ideally under a thousandth of a cent, the system has no point. Bitcoin is a micropayment system. So the so-called BTC and Ethereum boondoggle attempt at anything else will fail.
The only, and I mean only, the purpose of bitcoin is high-volume at low fees. So if anyone tells you that anything above a fraction of a cent is low fees, they are lying and attempting to deceive you.
Bitcoin is a micropayment system, first and foremost.
Bitcoin doesn't replace banks. Instead, Bitcoin enables the unbanked to be part of the digital economy because it creates the first digital cash system. This is what people fear!
I would like a lower fee... in time
But, not speculation.... use
Miners will make more than BTC x1000
CSW
Feb 25, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645815066051229?thread_ts=1645815066.051229&cid=C5131HKFX
https://t.me/CSW_Slack/4077
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CSW - Slack Channel
CSW
Feb 25, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645815066051229?thread_ts=1645815066.051229&cid=C5131HKFX
https://t.me/CSW_Slack/4077
Feb 25, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645815066051229?thread_ts=1645815066.051229&cid=C5131HKFX
https://t.me/CSW_Slack/4077
The entire argument is simple. They call me a fraud as I am scaling onchain. I am doing as I originally set and stated. They state this is the fraud, but in court, the claim falls apart. And, then we seek the start of criminal sanctions.
The only one scaling orchain is us.
The lie they promote is the one to try stop bitcoin, they know that it was always inchain. I stated this in 2008.
The claim of fraud is as I am the only one who is not a fraud
But, passing off and database rights leads to criminal sanctions as well
I don't want just money from COPA... every member will pay.
I want the criminal sanctions
Misrepresentation
And, COPA members could face RICO
CSW
Feb 25, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645820559099979?thread_ts=1645820559.099979&cid=C5131HKFX
https://t.me/CSW_Slack/4079
The only one scaling orchain is us.
The lie they promote is the one to try stop bitcoin, they know that it was always inchain. I stated this in 2008.
The claim of fraud is as I am the only one who is not a fraud
But, passing off and database rights leads to criminal sanctions as well
I don't want just money from COPA... every member will pay.
I want the criminal sanctions
Misrepresentation
And, COPA members could face RICO
CSW
Feb 25, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645820559099979?thread_ts=1645820559.099979&cid=C5131HKFX
https://t.me/CSW_Slack/4079
Telegram
CSW - Slack Channel
CSW
Feb 25, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645820559099979?thread_ts=1645820559.099979&cid=C5131HKFX
https://t.me/CSW_Slack/4079
Feb 25, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645820559099979?thread_ts=1645820559.099979&cid=C5131HKFX
https://t.me/CSW_Slack/4079