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Those buzzwords—DeFi, AI, NFT, Gaming, Quantum, the list goes on—remind us that many of these projects consist of a small team and an evil VC planning a hype-and-dump scheme. I guess lots of them are now planning to move from the “crypto” to the “AI” hype. I noticed that while watching the latest Coffeezilla video about “rabbit r1 AI.” https://www.youtube.com/watch?v=NPOHf20slZgAdvice: Stay humble, stack sats. |
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The only certainty miners have is that the Bitcoin network's controlled supply is set in stone from its inception. https://en.bitcoin.it/wiki/Controlled_supplyThis is the constant; the uncertain parts of the equation are variables like price action in fiat, new political regulations, weather disasters, etc. Anyone involved in mining should adjust their CAPEX and OPEX accordingly and project their ROI, while being prepared to decommission obsolete hardware if necessary. Recently, I heard an interesting idea for professional mining farms to refactor their old hardware to become products for end-user hobbyists, like Heatbit (heating your home while mining) or Lotto miner full nodes, etc. |
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Anyways, pick up the book Digital Gold, you wont regret it! (oh and I always thought Satoshi registered bitcoin.org and that somewhere a company had his real info, but it was Sirius who did that at his request. Satoshi thought of freaking everyting!) Yeah, I heard they even paid in cash. Where can I find this book? Domain Name: bitcoin.org Registry Domain ID: 95f8bd6f31564abd9c35804710ed58fe-LROR Registrar IANA ID: 1068 Domain Name Systems have an interesting history. Addresses were assigned manually. Computers, including their hostnames and addresses, were added to the primary file by contacting the SRI Network Information Center (NIC), directed by Feinler, during business hours. Later, Feinler set up a WHOIS directory on a server in the NIC for retrieval of information about resources, contacts, and entities. She and her team developed the concept of domains. Feinler suggested that domains should be based on the location of the physical address of the computer. Computers at educational institutions would have the domain .edu, for example. She and her team managed the Host Naming Registry from 1972 to 1989. (Wikipedia)I am not sure when or if ICANN made KYC mandatory for domain registration procedures. If I am not mistaken, the specific requirements for domain name registration, including any regulations related to civil ID, may vary depending on the country or registry operator.Regarding properly securing our personal privacy, it’s worth looking at the work of Cynthia Dwork, the mother of the proof-of-work concept used to combat email spam in the early 90s (!?) The last time I heard about Cynthia Dwork, she was a distinguished scientist at Microsoft Research. I heard her research on differential privacy is mostly used for protecting privacy in medical records, HIPAA regulations, etc. That’s a proper “Proof-of-Dwork”  |
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BTC>
"Blockchain not Bitcoin" — Jamie Dimon, JPMorgan CEO.
“Timechain” — Satoshi Nakamoto.
BTC>
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BTC>GM In an interview with the Swan Bitcoin YouTube channel, Chris Kuiper, Director of Research at Fidelity Digital Assets, shares his extensive research on why investors should prioritize Bitcoin. I imagine how they instruct their sales team to pitch to institutional clients. https://www.youtube.com/watch?v=a9k3GfSxRCoGemini Youtube video summarization. According to the video, Bitcoin is the first cryptocurrency and it remains the most secure and decentralized one. Bitcoin focuses on being a store of value, similar to gold. Other cryptocurrencies may prioritize different features and functionalities. Proof of work is a critical feature of Bitcoin that makes it secure and scarce.
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Hi all, I find the term " timechain" cooler.  In this article at Bitcoin Magazine, https://bitcoinmagazine.com/culture/bitcoins-blockchain-is-the-timechainThe author argues that "timechain" more accurately describes Bitcoin because it emphasizes the fact that Bitcoin is a chronological ledger of transactions. Moreover, one can argue that some software developers find that blockchain is a bad data structure. I mean, a blockchain does have features for its original purpose to solve the double-spending problem in a distributed system, but for general computing or development of distributed applications, it's better to use something else. P.S.->Thanks to the members who supported freedom to express my opinion in the "I don't like the term 'crypto'" thread. P.S.1-> In software engineering, it is considered a good practice to keep a glossary, that's why I'm thinking about those Bitcoin community jargons. BTC> |
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BTC>
If I am not mistaken, Luke Dashjr on Nostr or Twitter – I can’t remember now – said that as a practical solution for the Runes problem, we could use either BitcoinKnots or Bitcoin Core. Set ‘datacarriersize=0’ in your bitcoin.conf file or use the equivalent GUI option in Knots. I can’t find the Nostr post as I mentioned earlier, is that correct?
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Satoshi's last message before his disappearance was that he has 'moved on to other things'. Now my question is this, if actually Satoshi Nakamoto saw a good vision of what Bitcoin will turn out to be in the future, why then did he decided to move on to other things instead of focusing more on the Bitcoin project to make sure that he also took part in achieving the adoption of this digital currency? So unfortunate Satoshi should have been the one to answer this question. I've moved on to other thingsOp understand something here about this statement by Satoshi Nakamoto: ''moved on to other things''. Bitcoin is a decentralized digital currency and it been decentralized it will make no true sense that it stays under the watch and control of it's creator Satoshi, Satoshi understood this quite well and had to hand over bitcoin to it community (adoptors) early enough before it widespread. If Satoshi was to have control of bitcoin to date and not moving to other things, the core idea of bitcoin decentralization would have been in question. I do believe that this and more other things are Satoshi reason to moving to other things in life. >I agree with that, like in anarchism: ‘rules without rulers’. |
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Anything that uses blockchain is crypto. So bitcoin is crypto!
That's so untrue! IOTA doesn't have a blockchain... All transactions are recorded on a private ledger. The point wasn't even based off of the fact that cryptocurrencies don't have blockchain so what are you saying? Excuse me, I was wrong. I don't really mess around with alts much, but you're right. I think IOTA uses something called Tangle (correct me if I'm wrong), and it doesn't solve blocks or something like that? To be fair, its functionality is very similar to blockchain. I prefer the term " timechain" because it highlights Bitcoin's function as a chronological record of transactions, just like Satoshi Nakamoto envisioned... Source: Bitcoin Magazine Article BITCOIN’S BLOCKCHAIN IS THE TIMECHAIN, LET’S CALL IT THAT Calling Bitcoin’s blockchain the “timechain” would honor Satoshi’s intention and help clear up altcoin misdirection. https://bitcoinmagazine.com/culture/bitcoins-blockchain-is-the-timechainBTC> |
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BTC> I don’t like the term “crypto” …Not only because it distorts the field of cryptography, but it is also very much related to scam schemes, perpetrated by individuals who have 70% pre-mined coins, create pseudo-decentralized systems, and register trademarks, among other tactics…
The term ‘crypto’ brings to mind Schneier, B. (2015) ‘Applied Cryptography: Protocols, Algorithms, and Source Code in C. 20th Anniversary Edition.’ Indianapolis, Indiana: Wiley. in Chapter 1…”
A message is plaintext (sometimes called cleartext). The process of disguising a message in such a way as to hide its substance is encryption. An encrypted message is ciphertext. The process of turning ciphertext back into plaintext is decryption. This is all shown in Figure 1.1.
(If you want to follow the ISO 7498-2 standard, use the terms “encipher” and “decipher.” It seems that some cultures find the terms “encrypt” and “decrypt” offensive, as they refer to dead bodies.)
The art and science of keeping messages secure is cryptography, and it is practiced by cryptographers. Cryptanalysts are practitioners of cryptanalysis, the art and science of breaking ciphertext; that is, seeing through the disguise. The branch of mathematics encompassing both cryptography and cryptanalysis is cryptology and its practitioners are cryptologists. Modern cryptologists are generally trained in theoretical mathematics—they have to be.
That’s why my mantra is “Bitcoin NOT Crypto”..
BTC>
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BTC> My opinion at the moment aligns with Maximalist like Matthew Kratter. https://www.youtube.com/watch?v=ZwSN5lKeNEYYoutube Gemini summarise: “ This video is about Bitcoin Runes and its negative impacts on Bitcoin. The speaker of the video, Matthew Crder, argues that Bitcoin Runes is a scam and will likely cause financial loss for people. He mentions that some tokens issued on Bitcoin Runes have dropped over 90% in value within just 24 hours. [1:02] The creator of Bitcoin Runes, Casey Rmore, is also criticized for his involvement with ordinals and inscriptions, which are other supposedly scammy protocols. The speaker finds Rmore's blog disturbing because it contains content related to bestiality. [1:12] Bitcoin transaction fees have skyrocketed because of the minting of Bitcoin Runes. The speaker claims that this spam is causing denial-of-service attack on the Bitcoin network, making it expensive to conduct financial transactions. [1:20] The speaker believes that this spam is a result of unethical crypto VCs trying to profit from Bitcoin. He argues that companies and individuals who promote Bitcoin Runes or similar protocols should be called out. [1:30] The speaker mentions a few ways to fight against Bitcoin Runes and similar scams. One way is to boycott Bitcoin mining pools that include a lot of Bitcoin Runes transactions in their blocks. The speaker recommends using Ocean, a non-KYC mining pool that allows users to choose block templates that filter out garbage transactions. [1:40] Another way is to run Bitcoin knots, an alternate version of Bitcoin Core that has better filters for spam transactions. The speaker mentions a few people to follow on Twitter to learn more about this topic, including Bitcoin mechanic, Luke Dasher, Jock Muko, and Leo Half. [1:50]” BTC>
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I noticed that some opcodes get disabled. https://en.bitcoin.it/wiki/Script#OpcodesBitcoin uses a scripting system for transactions. Similar to Forth, Script is simple, stack-based, and processed from left to right. It is intentionally not Turing-complete, with no loops.Bitcoin uses an append-only ledger to record transactions. Once a transaction is recorded, it cannot be altered or deleted. This is to prevent double-spending and fraud. In accounting, this principle is known as the historical cost principle. It states that you should not change the original transactional value of an economic item reported in financial statements. Instead, if a mistake is made, it is corrected with a new entry, ensuring the integrity of the financial records. It’s like in bookkeeping - there is no erasing. You can’t go back and delete entries in an accounting book. It’s a move-forward-only system. P.S. I really don’t like the idea of Turing completeness. For an accounting system, loops are totally unnecessary. |
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BTC> what is Runes anyway?
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People say Bitcoin is too volatile.. We know who ..  Well, Kudos to Bitcoin Maxis like Natalie Brunell .. https://www.youtube.com/watch?v=PViqK_N2qIMGemini Summarization: “This video is a debate between Natalie Brunell, a Bitcoin enthusiast, and Peter Schiff, an economist who argues for gold. The debate is about whether Bitcoin or gold is a better investment. Brunell argues that Bitcoin is a superior investment to gold because it is: Not controlled by any one entity: Bitcoin is a decentralized currency, not controlled by any government or bank. This makes it immune to manipulation and seizure. A hedge against inflation: Bitcoin's supply is capped, which means that inflation cannot erode its value over time. Easier to store and transport: Bitcoin can be easily stored in a digital wallet and transported anywhere in the world. Schiff argues that Bitcoin is a worse investment than gold because it is: Volatile: The price of Bitcoin has fluctuated wildly in recent years. Not backed by any intrinsic value: Bitcoin is a digital currency that is not backed by any physical asset. A bubble: Schiff believes that the price of Bitcoin is currently in a bubble and that it is likely to crash in the future. The video also discusses the recent rally in the price of gold. Schiff believes that gold is a good investment because it is a safe haven asset that tends to perform well during times of economic uncertainty. Brunell acknowledges that gold has a long history of being a valuable asset, but she believes that Bitcoin is a better long-term investment. Overall, the video is a good overview of the debate between Bitcoin and gold as investment vehicles.” BTC> |
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It’s a good move by Moicano to have treated this as a currency, hopefully he might get his request granted or even go ahead to purchase it himself. $300k worth of bitcoin now is equivalent to almost 5 bitcoin, with the much anticipated bull run if he holds for long might see a 2x return of that amount
Moicano is not just like the average UFC fighter he is actually very smart and knows quite a bit about how money works. After one of his fights, even advice the audience to read about the Austrian School of Economics. Assuming he doesn't already have up to 5 Bitcoins and is waiting for the forth coming bull market, I agree with you that he doesn't have to wait for his bonus to paid in Bitcoin because of the delay it may take. I watched an interview where he mentioned Ludwig von Mises. BTC> |
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Isn't Altcoin a distraction to Bitcoin adoption? I think that altcoins are an obstacle for bitcoin's adoption. Here is my view. Bitcoin was a significant computing breakthrough in computer sciences to solve the “double-spending” problem in distributed systems. Real breakthrough ideas in computing are rare, I would say they happen once in a decade. Altcoins are mostly derived from Bitcoin's code, but with some changes or additions that claim to enhance its functionality or performance. However, most of these changes are either needless, untested, or harmful to the security and decentralization of the network. Altcoins also create confusion and divert the attention and resources of others from the real innovation of Bitcoin. Instead of concentrating on the adoption and improvement of Bitcoin, which has the most reliable and proven network, altcoins mislead users and investors with false claims and hype, this is not my opinion, it is based on facts. In software engineering, I appreciate the Layered architecture style (system is organized as a series of layers that are seen as stacked on one another like TCP/IP stack) So rather than being sidetracked by the “new” get rich quick innovative yada yada yada blockchain.. people could work on projects higher up in the layer projects like LN, Nostr, BitVM, etc. BTC> |
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I will try to follow the party in the EU. The Bitcoin Film Festival 2024 and European Halving Party in Warsaw, Poland.
The halving is a cool event, like the Olympic Games or something.
BTC>
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PS: I'm not sure if this is the right place for this thread so since it includes ETH, mods kindly move where it's appropriate. Thanks! No, it is not. It should be about Bitcoin only. —Max. BTC> |
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