Future knows View quoted note →

Michael is right View quoted note →

Mempool report on UTXO Set Report is bullshit that is trying to sell you "Scaling Solutions: Utreexo & SwiftSync". SegWit and Taproot were created to break the rules blow up data usage. Arsonist and firefighter in action. #bitcon #bip110 @Tauri | Bitcoin-BLAKE2b @hodlonaut @Matthew Kratter

mempool research

UTXO Set Report

A data driven analysis of Bitcoin's unspent transaction output (UTXO) set revealing that almost half of all UTXOs are < 1000 sats, 30% of UTXOs are...

BIP-110 is the first line of defence. We are here to create the second line. Read: https://artel21.vercel.app/mass-value-bound.html View quoted note →

BIP-110 is the first line of defence. We are here to create second. Read: https://artel21.vercel.app/mass-value-bound.html View quoted note →

Great point! View quoted note →

Spot on! View quoted note →

SegWit was a mistake. Block 484401, ~2,577 blocks after SegWit activation (block 481,824, Aug 24 2017), and 14 days after the BCH fork (Aug 1 2017). The era right when the witness-discount Landauer-attack surface first opened up. Mas-value ratio broke out it's era defined M-bound ceiling of 0.0008 reaching as high as 0.001920 on block 626,049 which is over 100% degradation of mass-value ration. #bitcoin #bip110 @The Bitcoin Lens @Jack K @Bitcoin Mechanic

As an amusing thought experiment, imagine that Bitcoin is successful and becomes the dominant payment system in use throughout the world. Then the total value of the currency should be equal to the total value of all the wealth in the world. Current estimates of total worldwide household wealth that I have found range from $100 trillion to $300 trillion. With 20 million coins, that gives each coin a value of about $10 million. So the possibility of generating coins today with a few cents of compute time may be quite a good bet, with a payoff of something like 100 million to 1! Even if the odds of Bitcoin succeeding to this degree are slim, are they really 100 million to one against? Something to think about... Hal

Satoshi Nakamoto Institute

[bitcoin-list] Bitcoin v0.1 released - Thread | Satoshi Nakamoto Institute

Advancing and preserving bitcoin knowledge

"I love the idea of virtual, non-geographic communities experimenting with new economic paradigms." Satoshi #nostr

Another factor that would mitigate spam if POW tokens have value: there would be a profit motive for people to set up massive quantities of fake e-mail accounts to harvest POW tokens from spam. They'd essentially be reverse-spamming the spammers with automated mailboxes that collect their POW and don't read the message. The ratio of fake mailboxes to real people could become too high for spam to be cost effective. The process has the potential to establish the POW token's value in the first place, since spammers that don't have a botnet could buy tokens from harvesters. While the buying back would temporarily let more spam through, it would only hasten the self-defeating cycle leading to too many harvesters exploiting the spammers. Interestingly, one of the e-gold systems already has a form of spam called "dusting". Spammers send a tiny amount of gold dust in order to put a spam message in the transaction's comment field. If the system let users configure the minimum payment they're willing to receive, or at least the minimum that can have a message with it, users could set how much they're willing to get paid to receive spam. Satoshi Nakamoto

Satoshi Nakamoto Institute

Bitcoin v0.1 released | Satoshi Nakamoto Institute

Hal Finney wrote: > > * Spammer botnets could burn through pay-per-send email filters > > trivially > If POW tokens do become useful, and especia...

@The Bitcoin Lens @Jack K @PlebNick @Dathon Ohm @Luke Dashjr @Bitcoin Mechanic We need to go beyond BIP-110. We need The Mass-Value Bound on Bitcoin. The M-Bound: every byte of a block must be backed by 100 satoshis of inscribed value. One new consensus rule — M(t) = τ_t / W_t ≤ 0.01 — prices memory against value, auto-tightens as subsidy halves, and makes the Landauer attack economically non-viable. Please have a read on: https://artel21.vercel.app/mass-value-bound.html