If your client or customer does not sufficient levels of fees to ensure that the transaction is mined, then the issue is not needing to resend or anything like this. There should not be fee markets pushing up fees but rather the problem some people note of a race to the bottom is what we should be aiming for. We should be aiming for nodes to fight tooth and nail to push the fees down as low as is rationally viable. If that means getting fees down to one sat a megabyte in time and the average profit is 0.001%, good!

If somebody tells you about a race to the bottom… Ask them what the fuck they’re doing with bitcoin. Bitcoin is capitalist. It is not mercantilist. That means it is not about getting the optimal profit for the largest number of businesses but rather pushing the price down for the consumer!

CSW
Feb 26, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645874977655109?thread_ts=1645874977.655109&cid=C5131HKFX

https://t.me/CSW_Slack/4085

CSW
Feb 26, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645875168986649?thread_ts=1645875168.986649&cid=C5131HKFX

https://t.me/CSW_Slack/4087

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

CSW
Feb 27, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645964288594669?thread_ts=1645964288.594669&cid=C5131HKFX

https://t.me/CSW_Slack/4089

There are three key points that matter in regards to bitcoin.

Faster, more transactions, cheaper.

Bitcoin does not address political problems; no technology does. Politics is a function of human interaction. Those who try and tell you otherwise are deceiving you in some way. This might be through their ignorance or, more likely, because of the malevolent intent that started with the introduction of Silk Road.

My job going forward is very simple. That doesn’t mean that it’s not hard. My job is to steward my original protocol. That is a system that will not change. That is a system that will scale to billions of transactions per second. That is a system with transaction fees lower than a thousand of a US cent each.

Those who don’t believe in my vision of a low fee global payment system that scales on-chain are free to go off and create their own alternative. The distinction is that they cannot deceive people by passing off and telling others that this is still bitcoin. Bitcoin is a micropayment system first and foremost. It scales by large blocks.

During this year, those who call me a fraud because they want to hide the original purpose for which bitcoin was created and which I always argued, even going back to 2008, will find that the courts won’t support their deception. Instead, the original purpose of bitcoin will be seen.

I have absolutely no problem with honest competition. The problem is that there is very little honest competition. When I invent something, others expect to take my property without any recompense and not even acknowledge that they are taking. This is just Mr Maxwell, and it isn’t just Meta.

If you want to see a better world, don't think bitcoin is a system to aid oligarchs in money-laundering. Think of it as a system that will promote new opportunities because of the low transaction fees that can occur. Think of it as a system that will deliver electronic cash to the poorest people on earth. Those who can't afford even one cent fees.

I've made myself untouchable. If you bankrupt me, nothing happens. I keep leading and I keep building because nothing is in my name.

That is the purpose of the trust.

CSW
Feb 27, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645964288594669?thread_ts=1645964288.594669&cid=C5131HKFX

https://t.me/CSW_Slack/4089

CSW
Feb 27, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645965065858259?thread_ts=1645965065.858259&cid=C5131HKFX

https://t.me/CSW_Slack/4091

My vision towards (year) 2030 is simple.

- More than 1 billion transactions per second.
- Fees of under one 1,000th of a cent
- A complex scripting language that allows developers to build anything!

Bitcoin does not bank the unbanked. It comes them digital cash. It doesn't give them home loans. It doesn't give them credit cards. Banks don't do cash. The poor don't need banks, they need digital cash with low fees.

I'm not interested in making bitcoin into a “censorship resistant platform”. That was never my vision for bitcoin and came about because of the electronic Frontier foundation. My vision for bitcoin is for a system that allows the normal people of the earth, the poor to send money. It is not a system that allows the rich to hide money.

BTC have created a system that allows for a monetary mixing. It allows oligarchs and crime lords to hide and move money and even this is not effective because of the tracing I built-in. But they are trying to change it. Bitcoin does not change. Bitcoin is set in stone.

The protocol I built will remain the protocol I built. In the year 2100, a transaction on bitcoin that you can create today will still be valid. This is not something that will occur on any other platform. BTC changes nearly weekly. Ethereum changes all the time. Bitcoin doesn't. Bitcoin won't. What bitcoin will do is scale and become cheaper.

I have no interest in people who speculate on bitcoin and care mostly about price. The only price I really care about is the transaction fee. And that is far too high. Right now, the transaction fee is tens to hundreds of times higher than it needs to be. That's going to change.

People keep telling me others will flood the network.
GOOD!

I want people to flood the network. I want everybody who can send any transaction to send it. This is why we have transaction fees. There is no such thing as spam on bitcoin. If you want to send any transaction, if you want to send one the Satoshi, it is your bloody right!

I will say this again. If you want to send one Satoshi… It is your right! It is not spam. There is no spam on bitcoin. I welcome people sending lots of stupid small transactions just because they can. That is the purpose of bitcoin. Don't like that, find something else I don't care. What I'm going to do is build a system that handles any volume.

Not to democratise finance. To open up digital cash to everyone no matter how poor they are.

If you want to build Ethereum and use bitcoin as the consensus mechanism, good I won't stop you. If you want to build a different system on top of bitcoin… One that uses high volumes of bitcoin transactions for nearly nothing… Good I won't stop you.

I'm not here to speculate. I'm not here to gamble on price. I'm here to do one thing.
Make it cheaper to send transactions

the reality here of course is that I wanted way earlier than that (2030)

CSW
Feb 27, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645965065858259?thread_ts=1645965065.858259&cid=C5131HKFX

https://t.me/CSW_Slack/4091

CSW
Feb 27, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645969339321529?thread_ts=1645969339.321529&cid=C5131HKFX

https://t.me/CSW_Slack/4093

I don't want to hear about the markets any more. I especially don't want to hear about the markets from people who don't have a PhD in economics and quantitative finance.

I don't want engineers and computer scientist telling me why my financial calculations are wrong. Quite frankly, not your money not your problem...

The issue to be solved in bitcoin is not how do we build a free market

the issue to be solved is how do we scale to over 1 billion transactions a second

the constraint on that is to ensure that the average fee price for a standard type transaction is under 1000th of a cent

I will say that again the constraint to be complied with is to ensure that fees for standard transactions remain under 1000th of a cent

let me make this absolutely clear...

The fee for a bitcoin transaction should be under 1000th of a cent

more complex transactions will go far more

data storage will go far more

if you want to tell me about the problems with this... go away

the average size of a bitcoin transaction is 250 bytes

the average processing time right now is thousands of times too large because were over engineering everything

not having the base fee set at once that by default

having a dust limit still - not having a one sat requirement

relay fees in any way possible

just the mere mention of relay fees and fee market

thinking about communities of miners

miners are commercial entities who compete... Not our job to fix what they are doing but rather we should be setting a default super low fee that they have to increase

by the end of this year I don't want to see a single version of the node software released the doesn't have a default of one sat per transaction no matter what the hell the transaction is

if a miner wants to change that, that's the miners right

and then they compete

then they lose out on anything that is not set low enough

every time people talk about a race to the bottom and other Communist Stalinist bullshit

markets are emergent

I'm tired of people trying to engineer markets... People who try and tell me that there libertarian... People who don't understand that engineering markets is a typically Stalinist bullshit move

if you're an engineer, you have as far as the node software is concerned zero input into price

if you want input into price, become an accountant or a financial advisor

otherwise, follow the policies you're given

if you don't like that, we have BTC and Ethereum

CSW
Feb 27, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645969339321529?thread_ts=1645969339.321529&cid=C5131HKFX

https://t.me/CSW_Slack/4093

CSW
Feb 27, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645972473008249?thread_ts=1645972473.008249&cid=C5131HKFX

https://t.me/CSW_Slack/4095

The only pledge I'm going to make concerning price of bitcoin is that by the end of this year I want to see the average transaction fee for a standard 250 byte transaction under 0.001 US cents a TX.

I'm not going to pledge coin price. I'm not going to fuel the speculators.

I'm going to push every single bit of development towards handling as much volume as we can get no matter what the hell it is in a system that follows all of the legal requirements and achieves transaction processing on an immutable database satisfying all of the SOX 302/404 accounting requirements under the US while still being under 0.001 US cents a TX

BTC don't want people who earn under two dollars a day.

I do

USD $ 0.00 , 001

That is the fee that should be considered normal

that is the fee for a standard 250 byte transaction

that is what people should be considering as a required payment when they exchange USD $0.001 for some good or service

and at scale, that has the potential to make more profit and earn more money in a single daythan every single dollar exchanged over BTC and Ethereum aand every shitcoinhas made in its entire history

some are and some are higher than we need to make sure that we have people understand thatt this is going to happen even as we scale

even as the coin price fluctuates

CSW
Feb 27, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645972473008249?thread_ts=1645972473.008249&cid=C5131HKFX

https://t.me/CSW_Slack/4095

CSW
Feb 27, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645973294384389

https://t.me/CSW_Slack/4097

I can make this very simple.

If you disagree with me in fees and don’t believe that bitcoin should be under a thousandth of a cent per transaction, then you shouldn’t be working with me, you should be working for me, you shouldn’t be working with Bitcoin Association, you should be working on bitcoin. You shouldn’t be working at nChain. You shouldn’t be working at TAAL.

If you think that fees should be higher, the honest truth is that you don’t believe in bitcoin no matter what you say. If you argue for a fee market and try and development, you are not arguing for free markets and freedom but rather for a controlled centralised system. Sorry, if that is the case go to BTC. Go to Ethereum. But just leave.

I don’t really feel like fighting people any more on these issues. If you don’t like it, go. I’m not going to put up with people telling me that fees need to be higher. By the end of this year I want to see the default nodes setting not at any of the current rates but at 1 SAT.

I want people to stop over engineering everything and understand that bitcoin is a transaction system for micro payments. It does a lot more because of the scripting engine but the foundation is very simple. Very low-cost secure transactions.

If you want to argue attacks… Go away I don’t want to work with you. If you want to tell me how wrong in charging too much… Go away I don’t want to work with you. If you want to tell me how fees need to be higher… Go away I don’t want you in my life… I don’t want to work with you… I don’t want to talk to you… I don’t want to deal with you.

The only people I want to deal with from now on will understand very simply the bitcoin is a digital cash system that will deliver micro payments.

If you don’t like this, if you don’t agree with me, if you’re not 100% engaged in both scaling bitcoin and keeping the fees low and getting the lower and having “a race to the bottom” that forces fees to be so low that nothing else can compete…

I want nothing to do with you.

I’ve had too much to do with too many toxic people. That’s going to change. I don’t care if you like bitcoin. I’m just going to make it so inexpensive that nobody will consider using anything else. I don’t care about all these arguments about raspberry pi’s. I didn’t invent bitcoin to be run on raspberry pi’s and mums basement a delivered a system that was designed to scale the bigger than Visa and as I originally said that will end in server farms.

- My vision is a system that scales to billions of transactions a second.
- My vision is a system open to anyone globally.
- My vision is a system that costs no more than 1000th of a cent for a standard 250byte transaction no matter where you are in the world no matter what you’re doing.
- My vision is for a system that is completely traceable and able to work within the existing legal structures.

If this is not your vision… You should not have used and should not be on bitcoin.

I want anybody to be able to use bitcoin and to have access to digital cash. I want anybody on this earth no matter how poor, no matter how isolated and no matter how disenfranchised to be able to have money and use it because of bitcoin.

Bitcoin does not bank the unbanked. It gives them access to cash. Bitcoin is not about removing banks. Bitcoin is about developing a robust infrastructure to deliver digital cash globally.

When I say that I’m not going to put up with people who have a different vision, I mean it implicitly. I’ve had too much time having to work with people even in my own organisations with different agendas. This ends.

If you don’t want to scale bitcoin and to do this as a primary goal, move on. I will say right now that I will not work with a person who does not have this as their vision.

if you think that somebody spamming the network or sending millions of one sat transactions is a problem, find a new job

CSW
Feb 27, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645973294384389

https://t.me/CSW_Slack/4097

AUSSIE MAN BAD : 2022 AMA Interview with Dr. Craig Wright a.k.a Satoshi Nakamoto
5638 visualizaciones
3 mar 2022
https://www.youtube.com/watch?v=lk3_gooADuw&t=447s

CSW
Feb 27, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645973294384389

https://t.me/CSW_Slack/4097

CSW
Feb 27, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645977835720319

https://t.me/CSW_Slack/4104

CSW
Feb 27, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645978966061589?thread_ts=1645978966.061589&cid=C5131HKFX

https://t.me/CSW_Slack/4105

CSW
Feb 27, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645978966061589?thread_ts=1645978966.061589&cid=C5131HKFX

https://t.me/CSW_Slack/4106

Very simply,there is an answer to the relay fee problem, the dust problem, the spam problem and any other problem that you wish to bring up about bitcoin right now

If you come to mein any format where you have direct access I will treat it in the same way that I will treat if you come up as an employee

That is, if anyone coming to me from nChain or any other firm that I have any interest in says something like "we need to do this because of the relay fee problem "

I will translate that as "I quit"and I will accept that person's registration on the spot

I'm not kidding on this one now

we are not going to discuss any of these things

if the person doesn't understand it I don't care

Developers will have a set of architectural goals and specifications to build

if they don't want to do those and they think there's other problems

they can leave

CSW
Feb 27, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645978966061589?thread_ts=1645978966.061589&cid=C5131HKFX

https://t.me/CSW_Slack/4106

CSW
Feb 27, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645979536608239?thread_ts=1645979536.608239&cid=C5131HKFX

https://t.me/CSW_Slack/4108

My life has had far too much angst in the last decade and I’ve allowed myself to have too much anger in my life because I have allowed people to try and engage and argue with my vision. The simple thing is, if you have your own vision go off and do it. I’m not stopping you although… I will be competing with you if you want something different.

So, let me make this utterly clear. I’m not going to discuss theoretical attacks against bitcoin that have nothing to do with reality because people don’t understand scaling bitcoin. If you want to come up with boondoggle projects, go off on your own and come up with boondoggle projects. I’m not going to stop you. I will end up stopping many of the things that happening in BTC because they are calling it bitcoin and it is misleading and deceptive. That will not be accepted. In time, if they want to compete based on something else, they can. But it won’t be called bitcoin.

So, before I leave for the evening I’m going to make this finally and irrevocably clear. If your vision is not scaling bitcoin on-chain the way it was originally envisioned, a traceable global digital cash system, have a nice life and go away from me. If you believe that transaction fees will end in a race for the bottom and you see it is bad, get away from me because I want nothing to do with you. I’m not going to argue with you but I also won’t work with you and you won’t work for any firms with. If you even think that you can argue or debate will discuss this with me, go away. If you happen to work for me or with me and you bring this up consider it your immediate resignation.

If you don’t believe that you can get bitcoin set with the default fee on the client to the miners under one set per transaction forcing the miner to choose a higher level if they want to without any coordination and without any agreement by themselves at risk, get a new job, stop working on bitcoin, stop being involved in anywhere I’m involved in go do something like Ethereum.

I’m stating this now, the dust limit will be one sat this year.

I’m stating this now, the fee will be low this year.

By low, see all of my posts.

If you argue with me in any way on this topic you will be removed from my life.

The only argument I will have is Craig but is still too high I think it should be lower. I may not listen to you and that argument but that is the only one that I will accept.

I hope people understand my position. I hope people understand my vision. If you don’t, I don’t give a shit. I’m still gonna do it. I’m still going to implement everything I’ve said. If you’re a speculator, I don’t give a flying fuck about you. If you speculate on coin price, not my problem. If you think I care because you own bitcoin, don’t care. Do I care that you use bitcoin. Yes. Speculate fucking no. Use, love you. Hold and HODL, go fuck yourself.

I hope you understand my position on speculation too. It should be simple to understand. I don’t mind that you own a lot of bitcoin. That is different to merely speculating and if you actually think about it, you will come to understand use is part of anything more than gambling.

sending a transaction of one Satoshi is the minimum

if you can get one Satoshi without miners having a payment.. Then no problem

the reality will be that you should need to pay miners and as such even with a single Satoshi being sent you will have two Satoshi's as the absolute minimum because of the single Satoshi to the miner

As Sats are tied up as people say, there are still less and this idea of spam and dust is purely a core Ras Pi thing

Simply, I do not care if a Ras Piu cannot run a node - NONE DO

In fact, not one ever did.

in 2009, 2010, nodes were not small

CSW
Feb 27, 2022
https://metanet-icu.slack.com/archives/C5131HKFX/p1645979536608239?thread_ts=1645979536.608239&cid=C5131HKFX

https://t.me/CSW_Slack/4108