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1  Bitcoin / Bitcoin Discussion / Bitcoin = Proof of Scam ? on: April 13, 2024, 04:41:16 AM
The halving of bitcoin is indeed a dirty little trick hiding in the source code.

The bitcoin white paper misleads:

"The steady addition of a constant of amount of new coins..."

Point being:

White paper does not mention halving !
2  Bitcoin / Development & Technical Discussion / Tokenization of the Blockchain Space (Market for transaction fees/block space) on: March 28, 2024, 05:36:00 PM
The idea:

Every byte or "vbyte" on the block is "tokenized". Meaning it can be sold and bought on a build-in "market" exchange in the bitcoin client.

All miners are obligated to sell these tokens on the market place and honor these tokens on their blockchain are they to receive their value.
All users of bitcoin that want to send transactions must first purchase these tokens on the market place, this can be automated by "market" order.

There would be a "order book" and some nice charts so people can see what a transaction will cost.

The bitcoin software should be changed in two ways anyway:

1. Total transaction cost estimation.
2. Most likely price for as "vbyte".

How this could be implemented is as follows:

The bitcoin system has a limited ammount of tokens available, which float in something which resembles a mempool, but in this case a "token pool".

For example 60 minutes could be chosen to "tokenize". With a blocksize of 10 megabyte per 10 minutes, that could mean roughly 60 million tokens are available.

Each miner can specify how many tokens and at what price it wants to sell these tokens for.

Each token has a unique number ranging from 1 to 10 million or 1 to 60 million.

Each token has a unique value with it/attached to it, the price that was payed for it.

This is the ammount of BTC that will be rewarded once the token is mined.

To mine the token the block of the blockchain must honor the token.

The bitcoin system checks if the token number on the blockchain matches the token that was sold and bought and so forth.

This is all virtual/in memory, no trace will remain of it.

Those other miners that agree with it, will accept the block as valid, those that disagree will not accept the block as valid.

Once the block has been accepted as valid, the associated tokens are re-injected into the token pool and are up for grabs/sale and so forth.


Whenever the bitcoin system signals that "tokens" have been injected into the tokenpool, miners can start "selling" them for a certain price, per token id.

Which ever miner offers the lowest price wins that particular token id, and the system will show that particular token id now has an "asking price" of that ammount.

Same happens on the buy side...

Clients can start bidding on the buy price of token ids. "Bid price". Which ever client offers the highest "bid price" is associated with that token id.

Once the ask price and the bid price match each other the "token" is sold/transacted: meaning:

The client now "owns" this token and has a privilege/option to utilize the token for the next 60 minutes, but does not have too.

Perhaps a special order book must be created/invented where a token can have different prices.

Each miner maintains certain price per token.

The client can select which miner or miners it wants to buy tokens from/reserve space on their block in case it ends up on the blockchain.

The bitcoin system should also shown when they last mined a blocked and how many blocks they have mined in the last week or so to give some indications if these miners are reliable/serious or not. (Could also be hours, months/years etc).

A client system can now purchase blockchain space on multiple miners, ensuring that it has a good chance to be mined on one of their blocks, perhaps a different price points.

Which ever miner wins the block cashes in on the offer price per token that was set by this miner.

The client transaction is payed for, the other tokens that are now worth/not relevant are returned to the client, this is a local accounting tick so the bitcoin client has return the funds.

An advanced client could calculate a "maximum transaction cost", simply taken the miner which asks the most, so that the client has some idea what the transaction cost will be in the worst case scenerio.

An average could also be calculated to give some sense of market sentiment/average prices, perhaps even a minimum...

(Interrupted by phone call)

Anyway... I must go now, take care ! Wink =D

(Also some nice charts how it all fluctuates ! Wink)

* Update * Now I have a little bit more time and I want to also add an important idea which can further solve some problems:

The idea is that each token has a number and the tokens are therefore ordered.

The miner is required to select token number 0, 1, ,2 ,3 ,4 first if they were sold, 5 was not sold, 6 was sold and so forth.

This orders the transaction bytes, and also other transactions.

This can solve a number of problems like:

Front running.

Furthermore it also makes the lowest token numbers most valuable and can give the buyer even more garantuee that it's tokens will be used to store data on the blockchain first.

It may also prevent "MEV" "maximum extracted value" however it is replaced with a "proper" market place for blockchain space tokens and might net them even more profit.

With this bitcoin is no longer "blind" when it comes to transaction costs Wink.

It might also help a little bit with "bribery"... especially if the tokens are ordered over a longer period of time...

Transaction with the lowest token must be prioritized or the block will be deemed invalid/not acceptable.

So re-ordering blocks by winning the race is no longer possible for the next 60 minutes or so...

Certain tokens must be injected into the block.

So this dictates which tokens must be used, miners are no longer free to choose at random or what serves their best interest which is some form of money/extracted value.

This would bolster/harden bitcoin against manipulation by miners.

This is a big win for bitcoin and all other crypto systems that work out and implement this idea.

And it gives more trust/believe in this better designed system... instead of blind/random... now there is a proper market with certain garantuees.



3  Bitcoin / Development & Technical Discussion / Transaction fee should be "per byte" instead of "per kilobyte". on: March 07, 2024, 07:21:37 PM
After many many many years I try to send a bitcoin transaction.

I had to set the fee manually, because automatic was not working.

For whatever reason I felt it was natural to express the transaction fee in "per byte".

Thankfully I checked again and noticed, the bitcoin core software displays "per kilobyte".

I was also under the impression that it showed "per b" or "per kb" but now that I look again it seems to be "per kilobyte".

There are some issues with "per kilobyte".

1. It's easy to overlook.
2. The windows operating system always shows everything in bytes for file sizes.
3. BTC is shown in smallest form 0.00000000 so this it's not using milli satoshi but simply satoshi so to speak, the smallest unit is possible, so the brain will be tricked into believing bytes are also set in it's smallest form.
4. Not everybody knows what a kilobyte is, it's a hard to use number: 1024.
5. Setting it per kilobyte requires some kind of division, which is harder to do.

Mempool website seems to show transaction fees in "per vbyte".  Sometimes for large values it seems to show "per kvbyte".

Anyway I've been observing the mempool space website, and I have seen many transactions where the ammount to transfer is small, and the transaction fee is unusually large, much larger than needs to be, so as far as I am concerned this is a clear issue with the bitcoin software and many people are making mistakes with it, it should be looked at.

I feel this is a bit scammy in it's current form... to easy to make a mistake.

It should be more clear what it is calculating, perhaps even given an estimate of many usd dollars or euros it is.

I am concerned, because I do believe many people are losing a lot of bitcoin, because for the first time in a long time, they are trying to transfer it to an exchange to try and sell it, now that bitcoin is near an "all time high" !

Furthermore there were some issues with the software which slightly shocked me, but was somehow solved:

1. The address formats have changed many kinds, not all compatible.
2. Software was not capable of performing transactions: "not enough keys in keypool" or something.

The solution seemed to be: "update/upgrade wallet" or something... and refill keypool.

First time I try these commands in console window, it returned null, must also first give in bitcoin wallet password, I tried restarting the latest bitcoin software after a few times it seemed to work and the key pool was refilled.

Fortunately I have access to Microsoft Copilot and it was able to help me and suggest the following commands to fix the problem:

1. walletpassphrase "password" timeoutInseconds

(Kinda akward command, pass+phrase, must type it in correctly, first one/two times I made typoes.

I was not sure if " " was necessary so I tried both.

2. upgradewallet

apperently version can be specified, but I left it out.

3. keypoolrefill

I did not set a new size...

I was a little bit disappointed the return is simply "null" this could be better...

The address type for my addressed was apperently P2PKH. The destination address is something with bc1 in the front of it, not sure what it is called... I don't see it in the filter from mempool, but it has something to do with segwit.

Fortunately I got lucky and/or the software and exchange is compatiblity/capable of handling this automatically, few, I would have hated it if I had lost fraction of bitcoins because of address format incompatibility.

Right now there are at least 125000 transactions waiting to be processed.

The fastest transactions/best block are paying between 14 and 302 sat/vB.

The second best block are paying 12 sat/vB.

The third block are paying 12 sat/vB.

OK, I payed 16 sat/vB. but increasing the transaction fee 3 times, so in total there are 4 transactions performed by the software.

To increase transaction fee, again copilot helped me and said to "right click" the pending transaction and choose "increase transaction" fee otherwise I would not have known how to do it...

It would have been more intuitive to simply click the transaction and somehow "open" it and then simply adjust the parameters... but apperently it must be done with a pop-up menu.

I found it a bit akward how it increase it automatically.

I also found it akward how it does not allow a label per different try.

I tried to label them from, roughly:

+0.00005000 BTC
+0.00010000 BTC

What then surprised me is it goes to
+0.00015000 BTC

I expected it to "double" but apperently it did not, which is kinda nice.

This set the sat/vb at a very competitive 16 sat/vb !

Which I just found out the transaction was processed and is now in this block:

https://mempool.space/nl/block/000000000000000000027a328fbd130718b803e6a725255aec235a97e8158cc9

Apperently mined by f2pool:

Hash   ‎000000...8158cc9
Tijdstempel   ‎2024-03-07 20:07:36 (9 minuten geleden)
Grootte   ‎2.01 MB
Gewicht   ‎4 MWU
Health
100%
Vergoedingbereik   15 - 446 sat/vB
Gemiddelde vergoeding   ~18 sat/vB US$ 1,70
Totale vergoedingen   ‎0,255 BTC US$ 17.268
Subsidie + vergoedingen   ‎6,505 BTC US$ 440.168
Gedolven door   F2Pool

Verwachte Blok

   
Totale vergoedingen   ‎0,261 BTC
Gewicht   ‎3.99 MWU
Transacties   2419
Werkelijke Blok
   
   
Totale vergoedingen   ‎0,255 BTC -2.05%
Gewicht   ‎4 MWU +0.15%
Transacties   2397 -0.91%

^ Dutch !


Well very interesting experience so far ! Maybe you can figure out which transaction it was based on my details ! LOL.

Lot's of fun to watch this mempool block thing in action. I do wish it was possible to find the exact yellow block by transaction id... I just had to move my mouse around and had to find it manually... there was no other way to find it in the visualization.

There is a search box which allows to find transaction details though, but it does not link back to the visualization in the block. The visualization was a bit akward it seems to change after a refresh of the webpage and the block was somewhere else.

The visualization is a bit weird/akward, hard to understand where is what. Apperently the most valuable transactions are to the right and maybe to the bottom, it seems to be inconsistent with already mined blocks where it's horizontall instead of vertically or maybe I saw that wrong.

Apperently blocks/transactions get pushed out into "slower/less profiteable" blocks.

I have a question about these yelllow blocks still to be mined though:

1. Are they all mined in parallel, or only the fastest one ?

One more question though, I just checked the exchange.

It has received one transaction, the otherwise are still "pending/awaits to confirm" Wink what will happen to the other transactions with less fees ? I guess these could be "flagged" as double spend attempts ?!

I assume these transactions will eventually be removed/dropped from the mempool ? I think the original one was already dropped, because a block explorer could not find it anymore, however the mempool website could still see it ?!

I also hope that using the replace-by-fee feature does not flag me as a "double spend" attemptor ! Smiley

Bye for now,
  Skybuck.

P.S.1: Maybe later I add some screenshots to show this website in action for historal purposes, it might be gone in a few years, I do have some screenshots on disk of this event... but I am eating sandwiches right now and have to go back to eating =D

P.S.2: All in all I am happy to see that bitcoin after many years with old wallet is still working ! One must also make absolutely sure to not forget the wallet password, otherwise it's going to be a hassle ! Wink



4  Bitcoin / Bitcoin Discussion / Blackrock ETF/Bitcoin will destroy the (new) cryptocurrency industry soon... on: October 24, 2023, 12:22:57 AM
https://www.youtube.com/live/2CcFUYjxrvM?si=jWMr2rERPwjcRPU2

Text from video:

Title:

Blackrock ETF + Bitcoin will destroy the cryptocoin / cryptocurrency industry very soon.

24 october 2023 by Skybuck Flying

Bitcoin will become an ally for the USA goverment/Whitehouse/Biden who want to destroy the cryptocoin industry to protect the USA Dollar.

Bitcoin is not the real threat. It is actually all the other new cryptocurrencies which are much much much more advanced than Bitcoin.

Bitcoin is old and obsolete compared to the new stuff.

So here is their plan:

The Blackrock ETF will be approved very soon and this will allow "wallstreet" to buy bitcoin.

This will cause major price surge of Bitcoin. Bitcoin will basically go to 1 million, 2 million, 3 million etc...

Thus will persuade owners of shitcoins to dump their shitcoins and buy bitcoins... which they can then sell again for USA dollars, so there will be demand for USA dollars.

USA also posses bitcoins from seizures, so they can lower bitcoin whenever they want somewhat, but that is beside the point, it would be a temporarely drop.

The last couple of days there have been Bitcoin Price Spikes.

It's now very clear that these are "TESTS" to see what would happen and to see how the market reacts...

It's a bit nasty right now, because it seems people are making a wrong decision, they believe if bitcoin rises that all other alt coins will rise too, so people are now buying a bunch of shitcoins everywhere... but these will soon crash very fast and very hard ! I warned you !

Sell your shitcoins while you still can.

Conclusion:

Major financial attack coming on the cryptocoin industry/cryptocoin currencies ! Most shitcoins will go to zero/become worthless.

My estimate would be: Destruction within one week, maybe even just a couple of days as people start to realize what is going on.

Whoever sells their shitcoins last, is going to be the major sucker....

5  Economy / Service Discussion / Decentralized Exchange ViteX is cool ! on: March 22, 2023, 09:15:17 PM
Make sure to give it a looksy and to try it out !

It's the best thing in the crypto world I have seen in a long time !

I really like it, and so should you, and you will.... you will be ! =D
6  Bitcoin / Bitcoin Discussion / Is/was Satoshi Nakamoto my computer science teacher ?! ;) =D on: March 22, 2023, 09:07:26 PM
Sometimes I wonder if one of my computer science teacher might be Satoshi Nakamoto.

1. One time, one sentence he said to me, which always ghosted through my brain:

"Would it not be fantastic if all information in an information system could be kept forever/always ?!" (Something like that)

(He looked at me like he really wanted to have my oppinion... and he was unsure of himself... I cannot really remember my answer or reaction, I think I just stayed silent and was a little bit amazed and surprised by this statement/question/action... he also bent around me and looked me really hard in the face with a bent head... like he really wanted to have some kind of answer or something. Personally I was probably thinking something like: "This guy is completely crazy, talks weird... looks weird/funny... hard to understand... the harddisk would just get full... it's probably a stupid idea... but then again maybe it would be nice... but why would you want this ?! They guy didn't seem to be making much sense to me... at the time... I think my silence and slight rejection of him... just made him a bit frustrated or something lol... wtf was he talking about lol.)

2. Plus he was also a foreigner looking person, chinese or japanese, was very hard to understand ! LOL.

3. He did design computer system for a library... so he a software architect and/or programmer... and/or database specialist.

Strange isn't it ?!

(Unfortunately I am not very good with names...) I might still have some documentation that might have his name on it, but the chance is kinda slim and I don't want to bother searching it for now in one of my old boxes... but if you must know here is some information on him:

Country: The Netherlands
South part of the country, limburg/Heerlen, IT studies Heerlen.

Now you have something to go on ! Wink
7  Bitcoin / Development & Technical Discussion / Bitcoin scalability & financial & competition problems and solutions on: February 17, 2023, 04:52:51 PM
Bitcoin scalability & financial & competition problems and solutions:

Link to youtube video discussing the above topics:

https://youtube.com/live/zT0fs8KtaG8

List of concepts discussed/tags of video:
Bitcoin, Problems, Scalability, Financial, Costs, Competitor, Solutions, Distribution, Coins, Bittorrent, Merkle Hash Tree, Tree Numbering, Tree Node Number Translation, Redundancy, Risks, Storage, Root Hash, Intermediate Hash, Binary Tree, Growing Binary Tree, Tree Storage, Energy, Magnets, Glass, Lasers, Holy, 3D Glass, Seeking, Bandwidth, Network, Scanning, Number of Peers, Number of Nodes, Number of Blocks, Tree Blocks, Virtual Tree, Computational Tree, Partial Tree, Bitsets, Compressed Bitset.

17 FEBRUARY 2023 BY SKYBUCK FLYING.

(Sorry for Caps, don't mean to scream or anything, just makes it a bit easier to read on highly compressed video images)

Lately I have been thinking about the "financial costs" of the banking system.

Today I also more or less considered the "financial costs" of bitcoin.

And I more or less came to the conclusion that bitcoin might actually be more

expensive then the centralized banking system in a certain way, if true then I think

this high financial cost problem should be solved.

Bitcoin should be cheaper than the centralized banking system and not more

expensive.

I AM GOING TO DISCUSS THREE IMPORTANT TOPICS IN THIS VIDEO:

1. THE FINANCIAL COSTS OF BITCOIN AND HOW TO REDUCE IT.

2. THE SCALABILITY PROBLEM OF BITCOIN AND HOW TO REDUCE/SOLVE IT. THE SCALABILITY

PROBLEM ALSO AFFECTS/CAUSES TO FINANCIAL PROBLEM TO A CERTAIN DEGREE. IT ALSO

RELATES A LITTLE BIT TO THE MINING PROBLEM.

3. THE COMPETITOR PROBLEM.

4. THE MINING PROBLEM/COIN DISTRIBUTION PROBLEM.

THE MOTIVATION HERE:

IS DRIVING DOWN COSTS, BECAUSE COSTS ARE EXPLODING ACROSS EUROPE AT LEAST AND MAYBE

THE WORLD, POSSIBLY DRIVEN BY POLITICS, GREEN MOVEMENT, DRIVING UP PRICES

ARTIFICIALLY, ENERGY CRISIS, ENERGY PRICE HIKES AND ALSO SOME WAR AND TRADE BANS AND

KICKING COUNTRIES OUT OF THE FINANCIAL SYSTEM/SWIFT.

LIFE IS BECOMING EXPENSIVE, HOW TO REDUCE COSTS ?!

COMPETITION IS GOOD, BITCOIN COULD BECOME A COMPETITOR FOR THE FINANCIAL

BANKS/SYSTEM AND OFFER A CHEAPER ALTERNATIVE....


TO MAKE THE BITCOIN PROBLEMS PERFECTLY CLEAR IT HELPS TO EXAGARETTE THE PROBLEMS.

EUROPE CASE: IMAGINE IF 300.000.000 IN EUROPE START USING BITCOIN.
WORLD CASE: PROBLEMS WILL BE EVEN BIGGER IF 7.000.000.000 BITCOIN.

THE BITCOIN PROBLEMS:


1. THE FINANCIAL COSTS/PROBLEM AND WHAT CAUSES IT.
&
2. THE SCALABILITY PROBLEM.

BASICALLY EVERYBODY, EVERY FULL NODE HAS TO COPY/DOWNLOAD THE ENTIRE BLOCKCHAIN AND

THIS LEADS TO THE SITUATION WHERE EVERYBODY THAT WANTS TO RUN A FULL/SECURE NODE OF

HAVING TO BUY AT LEAST A VERY BIG EXPENSIVE HARDDISK.

300.000.000 X 1 HARDDISK X 500 EURO = 150.000.000.000 EUROS

NOW COMPARE THAT TO BANKS,CENTRALIZED BANKS

THE ONLY NEED A FRACTION OF THESE AMMOUNTS OF HARDDISKS

BANKS REQUIRE MUCH LESS HARDDISKS IF THEY USE A CENTRALIZED SYSTEM.

ALSO MAKING ALL THESE COPIES, REQUIRES A LOT OF BANDWIDTH AS WELL, ALSO A LOT OF

PROCESSING POWER, WHICH ALSO MEANS MORE ENERGY ETC.

TRANSACTION COSTS FOR BITCOIN ARE QUITE HIGH, BECAUSE STORAGE SPACE IS SO LIMITED,

IT IS BEING USED INEFFICIENTLY, BECAUSE OF ALL THESE MANY COPIES.

IF THE NUMBER OF COPIES WAS REDUCED AND INSTEAD THE HARDDISK SPACE MORE EFFICIENTLY

USED, THIS COULD ALLOW THE BLOCK-SIZE OF BITCOIN TO BECOME BIGGER/LARGER AND WOULD

ALLOW MORE TRANSACTIONS TO BE STORED IN THIS BLOCK, BASICALLY ALLOWING MORE

TRANSACTIONS PER 10 MINUTES, BASICALLY MORE TRANSACTIONS PER MINUTE BASICALLY AND

WOULD RELIEF SOME OF THE PRESSURE ON THE SYSTEM, BECAUSE BASICALLY USERS OF TODAYS

BITCOIN HAVE TO COMPETE WITH EACH OTHER TO GET THERE TRANSACTION THROUGH, BECAUSE

THE TRANSACTION STORAGE SPACE IS LIMITED AND ONLY THE TRANSACTIONS WHICH OFFER THE

HIGHEST TRANSACTION FEES ARE PROCESSED AND STORED IN THE BLOCKCHAIN...

IF EVERYBODY WOULD START USING BITCOIN IN IT'S CURRENT FORM IT WOULD DRIVE UP

TRANSACTION COSTS AND WOULD MAKE BITCOIN EVEN MORE EXPENSIVE.


THE MORE OR LESS CURRENT FINANCIAL BANKING SYSTEM COSTS ESTIMATION:

IT COSTS MONEY TO HAVE A BANKING ACCOUNT.

4 EURO PER MONTH FOR AN BANKING ACCOUNT.

EUROPE CASE:
300.000.000 PEOPLE x 12 MONTHS X 4 EURO = 14.400.000.000 EUROS PER YEAR.

EVERY BANK TRANSACTION MORE OR LESS COSTS:

15 EURO CENTS.

BUT SOME MIGHT BE MUCH MORE EXPENSIVE LIKE INTERNATIONAL TRANSACTIONS.

THIS COULD PROBABLY ADD ANOTHER FEW BILLION TO THIS COST NUMBER.

I DON'T KNOW THE EXACT COSTS HERE...

BUT THERE IS AN INCENTIVE FOR BANKS TO GET RID OF COMPETITORS INCLUDING CASH...

SO THAT IF EVERYTHING GOES VIA THEIR SYSTEMS, IT WILL DRIVE UP TRANSACTIONS AND THUS

THEY CAN ALSO MAKE A BIG PROFIT.

ROUGHLY SPEAKING AFTER 10 YEARS, BITCOIN AND BANKS ARE BREAK EVEN, EXCEPT BANKS

ACTUALLY SERVE A MUCH LARGE COMMUNITY.

RIGHT NOW I WOULD ESTIMATE BITCOIN AND BANKS ARE BREAK EVEN AFTER 10 YEARS, SO

CURRENTLY THERE IS NO REAL COST REDUCTION, WHICH SUCKS.

3. THE COMPETITOR PROBLEM.

BANKS HAVE WAKEN UP, CENTRALIZED BANKS HAVE WAKEN UP, AND THEY HAVE BECOME A BIT

NERVOUS ABOUT THIS BITCOIN TECHNOLOGY... THEY SEE IT AS A POTENTIAL THREAT TO THEIR

BUSSINESS/BUSSINESS MODEL AND THEY WORRY ABOUT BITCOIN IF IT WOULD EVOLVE INTO

SOMETHING MORE EFFICIENT... THEN BITCOIN COULD BECOME A SERIOUS COMPETITOR FOR

BANKS.

FOR NOW THE BANKS HAVE STARTED PLANNING, WHICH YOU MAY HAVE HEARD OF, A CENTRALIZED

DIGITAL CURRENCY/BANKING SYSTEM. BASICALLY SOME KIND OF DISTRIBUTED LEDGER SYSTEM

AMONG BANKS THEMSELFES... AND THEN LIGHT CLIENTS WOULD PROBABLY COMMUNICATE WITH

THESE HEAVY NODES RUNNING AT THE CENTRALIZED BANKS.

I REFER YOU TO GEORGE GAMMON'S YOUTUBE VIDEOS ABOUT THIS AND OTHERS THEN DISCUSS IT

IN MORE DETAIL HOW THAT COULD WORK AND HOW IT WOULD EFFECT THE FINANCIAL SYSTEM.

TO SUM UP GEORGE GAMMON'S HYPOTHESIS OF HOW THIS WOULD WORK:
1. COMMERCIAL BANKS WOULD KEEP SERVICING/MAKING LOANS TO COMMERCIAL

ENTITIES/ENTERPRISES/BUSSINESS.

2. THE CITIZEN ACCOUNTS WOULD TRANSFER/TRANSITION FROM THE COMMERCIAL BANKS TO A

CENTRALIZED BANK, THIS CENTRALIZED BANK WOULD THEN GET A LOT OF INSIGHT INTO THE

TRANSACTIONS OF ALL THE CITIZENS.

3. THE COLLECTION OF DATA ABOUT CITIZENS, FACE SCANNING, MOUTH SCANNING AND

PASSING/COLLECTING OF DATA OF BUSSINESS ANYWAY <- MIGHT BE INEVITEABLE.

HE SUGGESTS: BY ASSETS THAT PEOPLE WILL WANT IN THE FUTURE, TRADE IT AMONG EACH

OTHER.

MY PREDICTION/WORRY:

IF BITCOIN OR A NEW SYSTEM DOES NOT APPEAR, THEN BITCOIN WILL MORE OR LESS DISAPPEAR

TO THE BACKGROUND BECAUSE IT'S TOO INEFFICIENT, TO COSTLY... AND THE CENTRALIZED

BANKS AND COMMERCIAL BANKS, WILL BASICALLY WIN WITH THEIR SYSTEMS...

AND THEN THERE WON'T BE ANY COST REDUCTION FOR US ALL, WHILE I DO BELIEVE THAT

BITCOIN HAS THE POTENTIAL TO REDUCE THE COSTS OF THE BANKING WORLD.


THERE IS A RISK THAT THESE BANKS WOULD GET A MONOPOLY ON THE FINANCIAL TRANSACTIONS

AND START RISING COSTS, MAKING IT EVEN MORE EXPENSIVE IN THE FUTURE.

AND IT MIGHT ALSO MAKE THEM TO "POWERFULL"....


4. THE MINING PROBLEM/COIN DISTRIBUTION

50% ATTACKS, 33% ATTACKS.

SOME PEOPLE CONSIDER THIS PROBLEM SOLVED BY USING MINING POOLS.

I KINDA AGREE WITH THAT A LITTLE BIT, NOT ENTIRELY, BUT IT'S A NICE SOLUTION FOR

NOW.

BASICALLY THERE COULD BE 4 MINING POOLS, CLIENTS COULD BE DISTRIBUTED

"FAIRLY/EVENLY" AMONG THE MINING POOLS, SO THAT EACH MINING POOL HAS 25% OF THE

HASHING POWER.





THE SOLUTIONS TO THE SCALABILITY PROBLEM OF BITCOIN:

1. THE BLOCK STORAGE SYSTEM AND THE BLOCK DISTRIBUTION PROTOCOL:

BASICALLY THERE IS ALREADY A SOLUTION TO THIS PROBLEM AND IT IS CALLED:

BITTORRENT (BY BRAM COHEN, MIT UNIVERSITY)

BASICALLY IT DIVIDES DATA/FILES INTO BLOCKS AND DOWNLOADS THEM RANDOMLY AND

DISTRIBUTES THEM ACROSS MANY PEERS BY HEURISTICS AND A THIS FOR THAT PROTOCOL.

IT THEORETICALLY ALLOWS A FILE TO BE PARTIALLY STORED ON MANY COMPUTER DISKS.

SO BASICALLY EVERY PEER/EVERY COMPUTER DISK CAN ONLY STORE A FEW PIECES.

NOT ALL PIECES, NOT ALL BLOCKS HAVE TO BE STORED IN A SINGLE DISK...

IT IS POSSIBLY TO REQUEST CERTAIN BLOCKS ON A NEED-TO-KNOW BASIS.

1.1 THE ACCOUNTING FOR THESE BLOCKS CAN BE DONE WITH SOMETHING KNOW AS A BITSET, IT

IS POSSIBLE TO CODE A SCALABLE BITSET, BASICALLY A COMPRESSABLE BITSET, WHICH KEEPS

THIS ACCOUNTING IN MEMORY IN A COMPRESSED FORM AND CAN MOST LIKELY ALSO STORE AND/OR

TRANSMIT THIS IF NECESSARY IN A COMPRESSED FORM TO OTHER PEERS, SO THAT THIS DOES

NOT HAVE TO BECOME A TECHNICAL/LIMITING PROBLEM. SO THAT THE MEMORY SYSTEM DOES NOT

RUN OUT OF MEMORY. SINCE IT DOES NOT NEED TO BE DECOMPRESSED, THERE IS ALSO NO RISK

OF A DECOMPRESSION EXPLOSION, LIKE WITH WINZIP, EXTRACTING A 1 EXABYTE FILE WITH ALL

ZEROES OR SOMETHING CRAZY.

MY SUGGESTION HERE IS THAT EACH COMPUTER STORES 256 SEQUENTIAL BITCOIN BLOCKS, SO

THAT THESE CAN BE COMPRESSED IN A CERTAIN WAY, MULTI LEVEL WAY. IT'S KIND OF SECRET

TECHNOLOGY, DON'T HAVE TO USE IT.

WHAT IS NEEDED IS REAL-TIME QUEYRING OF THIS COMPRESSED BITSET.


1.2 BITCOIN ITSELF IS SOMEWHAT INEFFICIENT WITH THE VERIFIEING OF ALL THESE BLOCKS.

CURRENTLY THIS HAPPENS IN A SEQUENTIAL FASHION AS FAR AS I KNOW.


THE DATABASE/BLOCKCHAIN (LINKED CHAIN OR LINKED LIST)
GENESIS BLOCK 0 <- BLOCK 1 <- BLOCK 2 <- BLOCK 3 <- BLOCK 4


THERE IS ANOTHER WAY TO VERIFY THE INTEGRITY OF THE DATABASE:

MERKLE HASH TREE (BASICALLY A BINARY TREE, IT'S A COMPUTER CONCEPT/DATA STRUCTURE)

            STATE:
                              ROOT HASH
                            /
         BLOCK 0      


            STATE:
                              ROOT HASH
                            /        \
         BLOCK 0     BLOCK 1    


                 STATE:
               ROOT HASH                    
                                    /           \
                              INTER HASH       INTER HASH
                            /        \         /
         BLOCK 0     BLOCK 1   BLOCK 2    



           STATE 0

                          ROOT HASH
                          /      \

                INTERMEDIATE              HASH
              /         \                  /
 
  INTERMEDIATE HASH    INTER HASH           HASH
      /     \         /          \           /
BLOCK 0   BLOCK 1   BLOCK 2    BLOCK 3     BLOCK 4



WHAT WOULD BE NEEDED FOR BITCOIN IS A DYNAMIC MERKLE TREE HASH WOULD BE NEEDED,

A TREE THAT CAN GROW. EVEN IF THIS TECHNOLOGY/CODE DOES NOT EXIST, THEN IT'S STILL

POSSIBLE TO USE EXISTING STATIC MERKLE HASH TREES AND MORE OR LESS RECONSTRUCT THE

TREE...

IT MIGHT NOT BE NECESSARY TO RE-CONSTRUCT, AT LEAST THAT IS THE HOPE.



            STATE 1:

                          ROOT HASH
                          /      \

                INTERMEDIATE                HASH
              /         \                      \

  INTERMEDIATE HASH    INTER HASH              INTER HASH
      /     \         /          \             /      \
BLOCK 0   BLOCK 1   BLOCK 2    BLOCK 3     BLOCK 4   BLOCK 5



            STATE 2:

                                    ROOT HASH
                          /                            \            

                INTERMEDIATE                           HASH
              /         \                          /          \

  INTERMEDIATE HASH    INTER HASH              INTER HASH      HASH
      /     \         /          \             /      \         /
BLOCK 0   BLOCK 1   BLOCK 2    BLOCK 3     BLOCK 4   BLOCK 5   BLOCK 6




            STATE 3:

                                 ROOT HASH
                          /                            \            

                INTERMEDIATE                           HASH
              /         \                          /             \

  INTERMEDIATE HASH    INTER HASH              INTER HASH      HASH   HASH
      /     \         /          \             /      \         /      \
BLOCK 0   BLOCK 1   BLOCK 2    BLOCK 3     BLOCK 4   BLOCK 5   BLOCK 6 BLOCK 7




            STATE 4:

                                            ROOT HASH
                                    /                           \
                              IHASH                                     IHASH
                     /                      \                           /    
             IHASH                           IHASH                    IHASH
         /           \                   /          \                /
    IHASH           IHASH           IHASH            IHASH         IHASH
   /     \         /     \         /      \         /      \       /
BLOCK 0 BLOCK 1 BLOCK 2 BLOCK 3 BLOCK 4  BLOCK 5 BLOCK 6 BLOCK 7 BLOCK 8
 
Apple's Steve Jobs would have called this: iCoin for your iPhone.


BASICALLY EACH PEER WOULD HAVE IT'S OWN TREE STATE.

THEORETICALLY IT WOULD BE POSSIBLE TO "TRANSLATE" THE NUMBER SCHEME ON THESE TREES.

SO BASICALLY FOR A PEER TO BE ABLE TO COMMUNICATE WITH ANOTHER PEER.

PEER A WITH PEER B.

PEER A MUST  MORE OR LESS BE ABLE TO PEEK INTO THE MIND OF PEER B.

SO PEER A MUST KNOW: HOW MANY NODES ARE THERE IN THIS MERKLE HASH TREE.

BASICALLY PEER A ONLY NEEDS TO KNOW HOW MANY NODES THERE ARE IN THE TREE OF PEER B.

BASICALLY PEER A MUST KNOW HOW BIG IS THE TREE OF PEER B.



         ILLUSTRATE A NUMBER SCHEME FOR THESE BINARY TREES

THIS IS USEFULL FOR AN EFFICIENT TREE COMMUNICATION PROTOCOL TO BE ABLE TO RETRIEVE

SOME OF THESE HASHES, NOT ALL HASHES HAVE TO BE ACQUIRED, I HAVE NOT YET EXPLAIN

THAT, TO VERIFY A NEW NODE, OR ANY LEAVE, NOT ALL HASHES ARE REQUIRED.

IT WOULD RESERVE 0 TO INDICATE UNKNOWN OR FAILURE OR SOMETHING.

LET'S START NUMBERING AT NUMBER 1.




            STATE 4:
                                              
                  N1
                                            ROOT HASH
                                    /                           \
                              IHASH N2                          IHASH
                     /                      \                           /    
             IHASH N3                          IHASH                    IHASH
         /           \                   /          \                /
    IHASH N4         IHASH           IHASH            IHASH         IHASH
   /     \         /     \         /      \         /      \       /
BLOCK 0 N5 BLOCK 1 N6 BLOCK 2 N BLOCK 3 BLOCK 4  BLOCK 5 BLOCK 6 BLOCK 7 BLOCK 8


BITTORRENT.


USE A MERKLE HASH TREE TO STORE AND COMPUTE THE BLOCKS.


MAYBE LOOK INTO MY POSTING/CODE:

My posting on bitcoin forum:
"Distributed downloading of blocks using a merkle hash tree for the block chain."


Maybe I invented some number scheme which stays the same as the binary tree grows,

maybe not, it could probably be invented or re-invented, maybe it already exists.

Even if it does not exist. Nodes numbers of trees could be "translated".

So basically Peer A has it's own Tree Node Number scheme/numbering.

So basically Peer B has it's own Tree Node number scheme/numbering.

If Peer A can understand Peer B's numbering scheme or vice versa then PeerA and

PeerB should be able to "translate" the numbers from each other and be able to refer

to the same node that they want to discuss/communicate about it.

So the point is, even with different numbering scheme, this does not have to be an

issue. It can be computed mathematically, or even with a little bit of extra memory.

Maintaining a "growing" number scheme that stays the same no matter the tree state,

would just be an optimization.


            WHERE TO STORE THE ROOT HASH
            INSPIRATION FROM PASCALCOIN

BASICALLY STORE THE ROOT HASH IN EACH BLOCK AS IT CHANGES.




GENESIS BLOCK 0      BLOCK 1         BLOCK 2              BLOCK 3
IT'S OWN BLOCK HASH   IT'S OWN BLOCK HASH   IT'S OWN BLOCK HASH
ROOT HASH      ROOT HASH      ROOT HASH            ROOT HASH


FOR EACH NEW BLOCK:

RE-COMPUTE THE ROOT HASH
AND
STORE THE ROOT HASH IN THE NEW BLOCK.



                  I11
            I9           I10
      I6           I7     I8
   I1    I2    I3    I4   I5
 N1 N2 N3 N4 N5 N6 N7 N8 N9 N10


THE MEMORY REQUIREMENTS FOR A BINARY TREE COMPARED TO A LINKED LIST, DOUBLE.

WHICH REALLY ISN'T THAT BAD... AND THE ENTIRE TREE DOES NOT NEED TO BE STORED IN

MEMORY.

IT CAN ALSO BE STORED ON DISK.

THIS IS WHERE EXTRA TECHNOLOGY/SOURCE CODE IS NEEDED TO STORE THE TREE ON DISK.


BUT IT WOULD BE VERY USEFULL, IF THIS TREE CAN BE ACCESSED PARTIALLY FROM

DISK/PERMANENT/PERSISTENT STORAGE AND BE TRAVERSED/SEEKED WITHOUT LOADING THE ENTIRE

TREE INTO MEMORY.

I THINK IT WOULD BE PRETTY SMART TO USE A STORAGE SCHEME/TECHNOLOGY/METHOD/PATTERN

WHERE AT LEAST THE LEAVE NODES CAN BE RETRIEVED INDIVIDUALLY, ALSO INTERMEDIATE

NOTES, AND OFCOURSE ALSO THE ROOT NODE.

SO BASICALLY ANY POSITION/NODE IN THE TREE SHOULD BE RETRIEVALE FROM THIS STORAGE

TECHNOLOGY EFFICIENTLY, WITHOUT REQUIRING TO LOAD THE ENTIRE TREE INTO MEMORY.

IT'S PROBABLY POSSIBLE TO DO THIS, TO DO THIS, THE EASIEST WAY WOULD BE TO MAKE SURE

THAT EACH NODE HAS THE EXACT SAME SIZE AND HAS A FIXED SIZES.

THIS SHOULD MAKE IT EASY TO COMPUTE AN LINEAR/SEQUALTIAL OFFSET FROM THE START OF

THE FILE TOWARDS SOME NODE POSITION IN THE TREE.

SO THIS TREE BASICALLY BECOMES VIRTUAL OR ANY TERM, A COMPUTATIONAL TREE, WHERE THE

NUMBER SCHEME IS USED TO FINALLY COMPUTE THE NODE OFFSET IN THE FILE.

AND THUS A DIRECT SEEK INTO THIS POSITION IN THE FILE CAN BE DONE AND THE NODE READ.

AT THE END OF THE FILE NEW NODES SHOULD BE ABLE TO BE ADDED.

ANOTHER IDEA COULD BE TO SPLIT THE TREE INTO MULTIPLE FILES. BUT THIS WOULD PUT

EXTRA STRAIN ON THE FILE SYSTEM, THOUGH MAYBE THIS HAS SOME KIND OF BENEFITS...

ONE SIMPLE BENEFIT COULD BE TO RE-USE THE "SEEKING" CAPABILITY OF THE FILE SYSTEM...

BASICALLY THIS WOULD ALLOW THE PROGRAMMER TO COMPUTE A FILENAME, MAYBE EVEN A FOLDER

NAME, THOUGH I DON'T RECOMMEND USING SUB FOLDERS TO STORE THE TREE, BASICALLY

WINDOWS EXPLORER HAS LIMITATIONS AND HAS DEPTH LIMITATIONS.

BUT AT LEAST THE FILENAMES CAN BECOME QUITE BIG... HOWEVER... FILENAMES WOULD

ULTIMATELY RUN INTO THEIR OWN LIMITATIONS, I AM NOT SURE WHAT CURRENT LIMITATION

IS... NTFS PROBABLY HAS SOMETHING LIKE MAYBE 2 GB LIMITATION OR MAYBE 64 GB

LIMITATION.

SO A DOWN SIDE OF THIS IDEA, IS EXTRA STORAGE SPACE NEEDED FOR THE FILENAMES...

BUT AN ADVENTAGE WOULD BE NO OFFSET COMPUTATIONS FOR VARIABLE NODE SIZES THIS COULD

BE AN ADVANTAGE... AND THEN YOU SIMPLY LET THE FILE SYSTEM SEEK THE FILE AND OPEN IT

AND LOAD IT.

ANOTHER IDEA COULD BE OFCOURSE TO USE "DATABASE" TECHNOLOGY TO STORE THESE NODES AND

TREE HASH NODES AND SO FORTH.

AND THEN BITCOIN WILL BE AFFECTED/LIMITED AND/OR ENHANCED BY THE

PROPERTIES/LIMITATIONS OR BENEFITS OF SUCH A DATABASE TECHNOLOGY.

IT DOES ADD SOME COMPLEXITY TO THE SYSTEM.

THE IDEA BEHIND THIS DISCUSSION, IS HOW TO IMPLEMENT IT AS FAST AND LAZY AS

POSSIBLE, IF YOU TOO LAZY TO CODE IT DIRECTLY.


BY COMBINING BITCOIN + BITTORRENT + MERKLE HASH TREES + MERKLE HASH TREE

COMMUNICATION PROTOCOL/TREE NUMBERING SCHEME + TREE NUMBER SCHEME TRANSLATION OR A

STEADY/GROWING TREE NUMBERING SCHEME + MERKLE HASH TREE STORAGE/RETRIEVAL TECHNOLOGY

+ NETWORK SCANNING NUMBER OF PEERS, NUMBER OF TREE BLOCKS + STORING ROOT HASH PER

TREE LEAVE BLOCK + EACH LEAVE BLOCK HAS IT'S OWN BLOCK HASH.

 

IT BECOMES POSSIBLE TO MAKE BITCOIN EFFICIENT AND SCALABLE.

HOW TO ACTUALLY USE BITTORRENT TO DISTRIBUTE THE BITCOIN BLOCKS AMONG PEERS.

STEP 1.
EACH PEER WOULD NEED TO KNOW HOW MANY PEERS THERE ARE IN THE ENTIRE NETWORK.

NETWORK PEER SCANNING PROTOCOL. THE NETWORK MUST MAINTAIN SOME KIND OF IDEA/NUMBER

OF HOW MANY PEERS THERE ARE IN TOTAL.

STEP 2.

EACH PEER WOULD NEED TO KNOW ROUGHLY HOW MANY BLOCKS THERE ARE IN THE BLOCK TREE.

STEP 3 CALCULATE SOME KIND OF DISTRIBUTION RATIO


NUMBER OF BLOCKS IN TREE / NUMBER OF PEERS =

1.000.000 / 10.000 = So each peer has to store at least a mimimum of 100 blocks.

However there would be no redundancy yet, which means if a peer goes offline 100

blocks would be missing.

So there should be some kind of "redundancy factor".

For example each tree block is not stored just 1 time, but for example at least 3

times, for tripple redundancy like data centers.

But it could also be 10x because, 100 blocks is not that much.

This could also be left up to the user, how much redundancy the user wants to

contribute to the network in total, though, it does become maybe a little bit risky

if this particular user goes offline... not sure exactly... how these kinds of

decisions would affect the network...

But at least there is some redundancy... which is also what was build into

bittorrent.

Furthermore bittorrent basically allows allows "seekablelity".

Anyway block may be requested/downloaded at any time.

The blocks do not need to be downloaded in sequence. It can be downloaded in any

order, at any time, not all blocks need to be downloaded, only the once that are

necessary for for example verification purposes.

Or to check if the bitcoin address has balance/spendable outputs, etc.

So benefits of this idea are plenty:

1. Clients can much faster join the bitcoin network and don't need to download a

huge blockchain.

2. Clients can operate much more efficiently storage wise, and don't need to buy

extra/new/bigger harddisks.

3. There is an incentive for clients to join and operate the network at all times,

because as the number of clients goes UP, the number of blocks to store actually

goes DOWN, most likely, to some degree. Unless all the clients start spamming

transactions like crazy, but must likely clients won't do this, because there should

always be a small transaction fee to prevent them from spamming transactions.

Plus at least citizens don't really do that many transactions per day or per week.

Some companies might.... but that is kinda the idea to bring them along with it...

and they can now benefit from a cheaper financial transaction system that is carried

basically by the entire world, anybody that has a computer.

Also other companies like Google, Microsoft, Facebook, Apple, might also be

interested in providing some storage space to help with the increase usage of the

bitcoin system as it becomes more populair.

4. Most likely less bandwidth used, because only the necessary blocks and hashes

need to be downloaded and not the entire blockchain.

So basically while a tree is a less efficient storage structure at first glance,

looking at the total number of nodes used, a tree does allow and does have certain

properties that more or less makes it more efficient for very large systems...

because part of the tree can be ignored.

Basically like windows explorer where sub folders can be collapsed, or other GUI

trees.

You spend a little bit more on the tree size, but also because every computer only

has to store parts of the tree it can be stored more efficiently.

The tree can also be virtual/computed by math.

And math requires some processing power, it's basically pretty cheap, it just

requires some electricity, however with todays rising energy cost... hmmmmmmmmm....

if the energy costs keep rising, someday it might be cheaper to just store the tree

on disk, instead of re-compute it... this is just part of life and how the world

changes... hard to predict... but at least there are transition options, in case the

world changes.

Question: Will energy/electricity become cheaper or more expensive ?

It's hard to say:

There is solar energy, wind energy, nuclear energy, maybe fusion energy in the

future.

But there is also increased demand for energy:

Electric cars, Lots of computer chips, other computer equipment, other electronics.

Basically the magnetics on a harddisk are kind of free.... they might have to be

refreshed/read/written from time to time. (Head movement cost energy).

Solid State Disks ? Don't know how costly these are in terms of watts. I would

expect that all those components take energy ?! Not sure...

Futuristic technology like holo lens ? Some kind of technology from Microsoft,

written bits of data into glass and reading it out with lasers maybe.

Some kind of 3 dimensional glass laser storage technology. Huge capacity.

The laser will require energy to read/write, but the glass is probably free.





DISTRIBUTING PEERS AMONG MINING POOLS.

BECAUSE MINING POOLS ARE SO FAR THE BEST SOLUTION TO TRY AND DISTRIBUTE THE COINS

BEING MINED BY PROOF OF WORK MORE FAIRLY +

DISTRIBUTION OF TRANSACTION FEE COINS COULD AND SHOUKLD ALSO BE DONE VIA MINING

POOLS.

SO THAT CLIENTS CAN GET A FAIR SHARE OF THAT.

HOWEVER TO PREVENT THE MINING POOL OPERATOR/BOSS FROM PERFORMING A 51% OR 34%

ATTACK, MAYBE THERE WAS EVEN A 25% ATTACK POSSIBILITY, IT WOULD BE NECESSARY TO MAKE

SURE THAT THE MINING POOLS HAVE EQUAL HASH RATE/EQUAL POWER TO COMPUTE NEW BLOCKS.

MY ADVISE WOULD BE TO HAVE AT LEAST 4 MINING POOLS, BUT 5 WOULD PROBABLY BE A LITTLE

BETTER. THEN AGAIN AN UNEVEN NUMBER NOT SURE... 6 IS A BIT DEVILSH... IF TOO MANY

POOLS THEN THE TEMPTATION EXISTS TO MERGE THEM INTO BIGGER/STRONGER POOLS.

SO THE SOMEWHAT RISK SWEET SPOT WOULD PROBABLY BE 4 POOLS, TO AT LEAST BE ABLE TO

TWART THE 33% ATTACK POSSIBILITY, I AM NOT SURE IF A 25% ATTACK POSSIBILITY.

EACH MINING POOL SHOULD HAVE 25% OF THE TOTAL HASHING POWER.

This does not discuss the possibility of "dark/hidden mining" it does not discuss

the possibility of "partial block mining".

This may have to be looked at into the future. Not going to discuss this now...

*** MORE ON FAIR COIN DISTRIBUTION AND MINING POOLS ***


IF HASHING POWER OF EACH MINING POOL IS BETWEEN 24.5% AND 25.5% THEN JOIN RANDOMLY.
IF HASHING POWER OF THE JOINED MINING POOL EXCEEDS 33% LEAVE THE MINING POOL AND

JOIN ANOTHER MINING POOL IF AVAILABLE. (MAYBE NOT SUCH A GOOD IDEA IF A MINING POOL

GOES DOWN, WOULD LEAD TO A LOT OF EXTRA NETWORK TRAFFIC, BUT WOULD AT LEAST ENSURE

THAT CLIENTS REMAIN OPERATIONAL IN THE SENSE OF MINING, SO THAT THEY CAN CONTINUE TO

GET THEIR FAIR SHARE OF COINS), ALSO JOIN ANOTHER MINING POOL IF CURRENT MINING POOL

IS NON-FUNCTIONAL, IF AN ALTERNATIVE DOES EXIST AND CURRENT MINING POOL ABOVE 33%

THEN LEAVE EXISTING MINING POOL AND JOIN NEW MINING POOL. I DO SEE AN ATTACK

OPPERTUNITY HERE... WHERE CLIENTS COULD BE FOOLED AND JOIN BULLSHIT/FAKE MINING

POOLS... SO MY SUGGESTION WOULD BE TO HARD CODE AND/OR BITCOIN SOFTWARE ITSELF

SHOULD BE AUTHORITIVE IN THIS SENSE AND MAYBE THERE CAN BE SOME SPECIAL

INFRASTRUCTURE THAT VERIFIES IF MINING POOLS/OPERATORS ARE REAL/TO BE TRUSTED OR

FAKE... MAYBE REQUIRE SOME KIND OF REGISTERATION IN A REGISTRY, OR REQUIRE SOME

FEES/FUNDINGS TO ALLOW OPERATION OF A MINING POOL... MAYBE COULD EVEN PROVIDE A

LITTLE BIT OF INCOMING FOR THE BITCOIN DEVELOPERS THEMSELFES AND/OR FOUNDATION SO

THAT THESE MINING POOL REGISTRATION COSTS GO INTO THE BITCOIN FOUNDATION AS A KIND

OF FUNDING FOR THE BITCOIN DEVELOPERS, WHICH COULD BE USED FOR SOME PURPOSES.
IN RETURN THE BITCOIN SOFTWARE AUTHENTICATIONS THESE MINING POOL OPERATORS AS VALID,

THOUGH MAYBE SOME ADDITIONAL TECHNOLOGY CHECKS SHOULD BE DONE, OTHERWISE SOMEBODY

WITH SOME MONEY, COULD STILL BUY/FAKE IT'S WAY INTO THE MINING POOL OPERATER

REGISTRY, WHOEVER RUNS THIS REGISTRY COULD RUN SOME KIND OF VERIFIEING SOFTWARE TO

ESTIMATE IF IT'S REAL OR FAKE.

SO BASICALLY MINING POOL CLIENT (BASICALLY THE BITCOIN PEER) CAN LEAVE THE CURRENTLY

JOINED MINING POOL, IF THE CURRENTLY JOINED MINING POOL EXCEEDS 33% HASH RATE OR

SOME OTHER HASH RATE THAT MUST NOT BE EXCEEDED (DEPENDING ON MINIMUM AMMOUNT OF

MINING POOLS THAT SHOULD EXIST) AND THEN REJOIN THE MINING POOL WITH EITHER THE

LOWEST AMMOUNT OF HASH RATE (THOUGH IT COULD BE A TRICK), OR MAYBE COMPUTE A LIST OF

OTHER MINING POOLS THAT COULD BE JOINED, IN CASE THEY ALL HAVE A LOWER HASH RATE

THAN THE TARGET AVERAGE OF 24.5%, AND THEN JOIN ONE OF THEM RANDOMLY.

IT'S PROBABLY BETTER TO STAY WITH THE IDEA OF ONLY 4 MINING POOLS, SO THAT THE

CHANCE OF ACTUALLY OBTAINING BITCOINS IS ACTUALLY MAXIMIZED UNDER THESE CONDITIONS.

SO BASICALLY THE TOP 4 MINING POOL HASH RATES SHOULD BE EXAMINED.
AND THE LOWER MINING POOLS SHOULD DISSOLVE AND REJOIN THE TOP 4.

SO THAT ULTIMATELY THERE WILL BE 4 MINING POOLS WHICH EACH AROUND 25% HASHING POWER.

THIS CREATES THE MOST FAIR COIN DISTRIBUTION MODEL/SITUATION, WHERE PEERS DON'T HAVE

TO WORRY, THAT THEY JOINED A WEAK MINING POOL, WHERE THEIR CHANCE OF OBTAINING COINS

IS REDUCED, TO SIGNIFICANTLY REDUCED...

SO THIS 4 IDEA MINING POOL IDEA, GIVES THEM THE BEST CHANCE.


1. BITCOIN STORAGE PROBLEM: SOLVED BY BITTORRENT, REDUNDANCY, NETWORKS SCANNING AND

STORING ONLY A FEW BLOCKS PER COMPUTER.

2. BITCOIN BANDWIDTH PROBLEM: SOLVED BY NUMBER 1, PLUS MERKLE HASH TREE, PLUS MERKLE

HASH TREE PROTOCOL, NUMBERING SCHEME, STORING BLOCKS IN A TREE, INSTEAD OF A CHAIN.

3. BITCOIN COIN DISTRIBUTION PROBLEM: SOLVED BY CLIENT/BITCOIN SOFTWARE REQUIREMENT

TO JOIN ONE OUT OF FOUR MINING POOLS.

4. COMBINING ALL OF THESE SOLUTIONS SHOULD SOLVE THE COMPETITOR PROBLEM OF

CENTRALIZED DIGITAL BANKING SYSTEM, AND SHOULD OFFER VERY THOUGH COMPETITION TOWARDS

THIS CENTRALIZED DIGITAL BANKING SYSTEM. BASICALLY THIS SHOULD MAKE BITCOIN OR ANY

OTHER COIN SYSTEM THAT IMPLEMENTS THESE IDEAS FROM BEING MUCH MORE CHEAP TO RUN.

THE COSTS OF RUNNING ARE TRUELY DISTRIBUTED ACROSS ALL PEERS/ACROSS THE WORLD,

EVERYBODY DOES A LITTLE BIT, JUST ENOUGH TO KEEP THE SYSTEM RUNNING SMOOTH AND

REDUNDANT, BUT WITHOUT GOING COMPLETELY OVERKILL, WHICH IS WHAT THE CURRENT BITCOIN

SYSTEM IS, TOTAL REDUNDANCY OVERKILL.

Note: Maybe look further into "distributing" the tree nodes among peers.

I do believe that this is an unsolved problem, an issue not looked at yet.

The intermediate hash nodes of the tree, should be stored somewhere.

Some data, some blocks are needed to compute theses... and these hashes should be

stored somewhere so that they don't need to be recomputed.

Something new will have to be invented to distributed a binary tree, partially among

computers.

Maybe such a technology already exists.

Maybe look into my own posting to see if a stable growing number scheme is possible:

"Distributed downloading of blocks using a merkle hash tree for the block chain."

But this is not enough, but it is a start.

Even without a number scheme, translation could be used...

And I am thinking of simple numbering all the tree nodes "virtually" and then

pretending that these are all stored in a "bittorrent" like file.

So most likely bittorrent can also be used for the tree nodes/intermediate nodes

distribution.

Basically bittorrent would already be used to distribute the end leaves of the

merkle hash tree.

So it shouldn't be a too big deal to also use this same code infrastructure to also

distribute the intermediate hashes....


SO EACH TREE NODE SHOULD BASICALLY HAVE A TYPE TO INDICATE IF IT'S:

1. A ROOT HASH  (MAYBE THIS TYPE NOT REQUIRED, BUT MIGHT BE HANDY OR NOT HANDY)
2. AN INTERMEDIATE HASH
3. A ENDLEAVE/DATA BLOCK HASH.

USE BITTORRENT PROTOCOL TO DISTRIBUTE PARTIALLY THESE NODES.

IF THE NODE IS A ROOT NODE OR INTERMEDIATE NODE THEN ONLY A HASH HAS TO BE STORED.

IF THE NODE IS A ENDLEAVE NODE THEN ALSO STORE THE DATA FOR THE TRANSACTIONS/DATA

BLOCKS PLUS IT'S HASH, PLUS ALSO THE ROOT HASH INSIDE THIS DATA BLOCK.

SO A LOT OF WORK REQUIRED TO RE-PURPOSE THE BITTORRENT PROTOCOL PLUS SOME

EXTRA/ADDITIONAL CODE FOR MERKLE TREE HASH


FINAL CONCLUSION:

IF THE BITCOIN DEVELOPERS BECOME LAZY AND DON'T INNOVATE, OR OTHER CRYPTOCOIN

PROJECTS, IF THEY THINK THEY ARE GOING TO BEAT THE BIG CENTRALIZED/COMMERCIAL BANKS

THEN IT MIGHT BE TIME FOR THEM TO WAKE UP, RALLY THE TROOPS, FIND NEW ENERGY,

BECAUSE A BATTLE FOR THE FUTURE OF THE FINANCIAL SYSTEMS IS ABOUT TO BE UNLEASHED BY

THE BANKS.

THE BANKS ARE PLANNING, TRYING AND ATTEMPTING TO IMPLEMENT SOME KIND OF CENTRALIZED

DIGITAL CURRENCY SYSTEM.

WITHOUT FURTHER IMPROVEMENTS TO BITCOIN AND OTHER CRYPTOCOIN PROJECTS THEY WILL

PROBABLY EVENTUALLY END UP WITH A MORE EFFICIENT FINANCIAL SYSTEM, THAT WILL BE

CHEAPER TO RUN AND THEREFORE ULTIMATELY IT WILL BEAT THE LIVING SHIT OUT OF OTHER

EXISTING CRYPTOCURRENCIES.... AND THEY MAY BE ABLE TO OFFER MUCH CHEAPER

TRANSACTIONS WORLD WIDE... THAN ANY OTHER CRYPTOCURRENCIES...

BASICALLY DESTROYING THE OTHER CRYPTOCURRENCIES COST-WISE.

THE ONLY REMAINING PEOPLE RUNNING THE OTHER CRYPTOCURRENCIES WOULD BE THE SO-CALLED

"FREEDOM FIGHTERS" THAT DON'T CARE ABOUT THE COSTS OF TRANSACTIONS, BUT THEN THEY

WOULD KINDA LOOSE OUT IN THE MONEY... AND START TO BECOME POOR.. AS EVERY

TRANSACTION THEY DO IS JUST VERY COSTLY....

IF YOU WANT GLOBAL ADOPTION OF SOME CRYPTOCURRENCY, IT SHOULD BE CHEAPER THAN THE

BANKS... AND THE WAY TO DO THAT IS TO MAKE IT CHEAP TO SCALE SUCH A CRYPTOCURRENCY.

IT IS A VERY HEAVY/KIND OF EMOTIONAL BURDEN ON THESE KINDS OF DEVELOPERS TO

TRANSITION THE ENTIRE WORLD INTO SUCH A CHEAPER FINANCIAL SYSTEM.


THERE ARE UNKNOWNS, THERE ARE RISKS, THERE ARE LEGAL ISSUES, THERE ARE WHAT IF COINS

ARE STOLEN ISSUES... BUT THOSE UNKNOWNS AND RISKS REMAINS TO BE SEEN....

IT'S ABOUT RISK TAKING... DO YOU WANT TO TAKE THESE RISKS ? THAT IS UP TO YOU TO

DECIDE AS A DEVELOPER, IF YOU WANT TO GET INVOLVED WITH RISKY BUSSINESS AND ALSO

CAUSE RISKS FOR OTHER PEOPLE USING THIS KIND OF SYSTEM...

RISKS OF CRYPTOCURRENCY COIN SYSTEMS:

1. HARDWARE VUNERABILITIES IN COMPUTER CHIPS/PROCESSORS/RAM/ELECTRONICS.

2. SOFTWARE VUNERABILITIES IN OPERATING SYSTEM, BIOS, CLIENT SOFTWARE, ADDITIONAL

SOFTWARE.

3. NETWORK ATTACKS, DENIAL OF SERVICE.

4. POLITICS/RULE RISKS, MAYBE BANS OF CERTAIN ADDRESSES IN SOFTWARE.

5. LEGAL RISKS, MAYBE POLITICIANS/LAW MAKERS/LEGAL SOFTWARE REQUIRING CERTAIN

PATCHES/UPDATES/RULES TO THE SOFTWARE, FOR EXAMPLE BAN CERTAIN ADDRESSES, MAYBE

BECAUSE OF TERROR THREATS, "RETURNING LOST COINS", THIS PUTS THE WHOLE IDEA OF

CRYPTOCURRENCY ON SLIPPERY ICE...

6. THEFT OF COIN, INFILTRATING SOMEBODY'S COMPUTER SYSTEM, HACKERS, HI-JACK, SPYING,

TROJANS.

7. HARDWARE FAILURES.

8. SOFTWARE FAILURES/BUGS.

9. ENERGY/ELECTRICITY DEPENDENT.

10. ELECTRONICS DEPENDENT (CHINA, TAIWAN, EU, USA)

11. SOFTWARE/PROGRAMMER DEPENDENT, COMPILER DEPENDENT, PROGRAMMING LANGUAGE

DEPENDENT.

12. TYPO RISKS... GUI MISTAKES RISKS...


Bye for now,
  Skybuck.

P.S.: The part I loved the most was: iCoin =D
8  Bitcoin / Development & Technical Discussion / Translate Bitcoin code to Delphi using ChatGPT ? on: December 19, 2022, 04:58:47 AM
I would love to try and convert the bitcoin c/c++ code base to Delphi with ChatGPT to see how far it will come.

Unfortunately I am against mobile phones, SMS codes and two factor authentication... LOL.

Maybe you can do it ?

Post some code here...
9  Bitcoin / Development & Technical Discussion / Partial Selfish Mining for More Profits on: September 13, 2022, 09:04:38 PM
27 july 2022, new seflish mining attack/strategy:

"Partial Selfish Mining for More Profits":

https://aps.arxiv.org/pdf/2207.13478.pdf

I don't quite understand it. How can a miner proceed to mine on a partially revealed block ? Hmmm...

This would imply that not all data from the previous block is needed/necessary to start computing the next block... maybe only the hash needed from previous block... hmm...
10  Bitcoin / Bitcoin Discussion / Saving NVIDIA by buying bitcoin on: September 01, 2022, 11:40:05 PM
I suspect NVIDIA is in a lot of trouble for a couple of reasons:

1. Their graphics cards are not selling anymore for a whole bunch of reasons such as:
1.1 The global corona pandemic/vaccines killing gamers.
1.2 Transient-corona-gamers dumping their graphics cards and going back to work.
1.3 The cryptocoin market collapsed, possibly caused by countries banning/blocking/outlawing bitcoin.
1.4 Power supplies not capable of handling NVIDIA's latest and graphics RTX 3080, RTX 3090 and RTX 4080, RTX 4090.
1.5 The Ukraine vs Russia war rising energy prices, bad for miners, miners shutting down.
1.6 The global inflation making everything expensive no more money for a graphics card !

Now the solution:

All those people/gamers that received LOVE from NVIDIA during their lifes through fantastically beautifull gaming, I call upon you, to participate in the following BAIL OUT PLAN for NVIDIA:

The plan is very simple, all of us that received this LOVE, we will will buy bitcoin in the ammount of exactly:

0.00101010 bitcoins.

As long as the purchase price remains below 100 euro or 100 dollar every LOVER will be able to buy !

This exact bitcoin ammount is chosen as a binary signal/support such that it will not cost more than 100 euro/dollar as long as the bitcoin price remains below:

100 euro / 0.00101010 = 99000,099000099000099000099000099 euro.

Currently this ammount of bitcoin is worth/could be bought for:

0.00101010 * 20195.54 = 20,399514954 euro + transaction costs (? hopefully it can be set so that this exact ammount can be purchased ?)

In case you want to buy up to a 100 euro/dollar for this project/support experiment/bailout then you should purchase multiples of this exact bitcoin ammount but to different bitcoin addresses.

For those unfortunate LOVERS that have been banned/blocked from buying or selling bitcoins there is still HOPE for you. In case you have sufficient bitcoin you can still participate in this SUPPORT campaign, by transferring this exact ammount from your existing bitcoin address to a new bitcoin address.

The fun part in doing this is:
1. Driving up the bitcoin price gently.
2. Sending a big fat signal that we want to save NVIDIA.
3. Showing the entire world our power.
4. Showing the entire world our determination.
5. Making an nice profit.
11  Bitcoin / Development & Technical Discussion / Proof of Signature + Lowest address wins coin distribution + Energy efficient on: August 22, 2022, 01:23:21 PM
Youtube video link where I discuss one out of two of bitcoin's main problems:

Problem 1: Coin distribution problem

Problem 2: Scalability problem.

I discuss problem 1:

https://youtu.be/QNKMpxZ2um0

So far the basic idea is to use "signed hashes" instead of "most powerfull hashes".

And the new/additional consensus rules that I have come up with so far are:

Basically I term/call/coin this new system: "Skybuck's Signed Hash Blockchain system"

Going to paste this text as it was described in the video above, maybe later I will work on it some more,

right now I am looking for feedback and critique if you think this system will work, or if you spot flaws and weaknesses in it ?!

PEER CONSENSUS RULES:

PEER CONSENSUS RULE 1. THE IP THRESHOLD RULE WITHIN A 10 MINUTE TIME FRAME.

PEERS WILL ONLY ACCEPT NEW BLOCKS WITHIN A 10 MINUTE TIME FRAME/PERIOD, WHERE THE BLOCK
WITH THE LOWEST IP ABOVE THE IP THRESHOLD WINS.


PEER CONSENSUS RULE 2. THE LONGEST BLOCKCHAIN WINS.

THE LONGEST BLOCKCHAIN WINS/IS SELECTED AS THE MOST VALID BLOCKCHAIN.


PEER CONSENSUS RULE 3. IF MULTIPLE DIFFERENT BLOCKS ARE DETECTED FROM A SINGLE PEER
THEN THESE BLOCKS AND THE PEER IS DISQUALIFIED AND THE IP THRESHOLD IS INCREMENTED + 1.


PEER CONSENSUS RULE 4. DISQUALIFICATIONS SHOULD BE BROADCASTED THROUGHOUT THE NETWORK,

BASICALLY THESE WOULD BE THE MULTIPLE BLOCKS. PEERS (GROUP A) THAT IGNORED THESE

DISQUALIFICATIONS SHOULD INFORM THE PEERS (GROUP B) (<-THAT HAVE DISQUALIFIED THESE BLOCKS OR

THESE PEERS) THAT THEY (GROUP A)(THE PEERS THAT IGNORED THESE DISQUALIFICAGIONS) DISAGREE AND

WILL CONTINUE WORKING ON A SPECIFIC CHAIN AND IT WOULD BE VERY BENEFICIAL TO INFORM (GROUP B)

OF WHICH BLOCK OUT OF THESE MULTI BLOCKS THEY SELECTED, SO THAT AT LEAST (GROUP A) CAN KEEP

THAT CHAIN IN THEIR MEMORY OR MAYBE THIS CAN BE DONE LATER.


PEER CONSENSUS RULE 5. IN CASE OF THE DETECTION/DETERMINATION OF DISQUALIFIED BLOCKS, WAIT

UNTIL IP THRESHOLD+1 (BASICALLY EITHER DISQUALIFIED BLOCK IP THRESHOLD +1) OR MAIN IP

THRESHOLD WHICH EVER IS HIGHER. IF THE PEER DECIDES TO DISQUALIFY THESE BLOCKS THE PEER SHOULD

MARK ITSELF AS DISQUALIFCATION-RE-SYNC-NEEDED.


PEER CONSENSUS RULES 6. IF THE DISQUALIFICATION-RE-SYNC-NEEDED FLAG IS SET THEN ON

INCREMENTATION OF THE IP THRESHOLD THE PEER SHOULD RE-SYNC ITSELF WITH OTHER PEERS THAT MAY

HAVE ACCEPTED THESE MULTI BLOCKS AND ASK THESE PEERS WHAT THEY NOW BELIEVE IS THE LONGEST

CHAIN...

MAYBE +1 IS A LITTLE BIT EARLY... BECAUSE THERE COULD BE MANY SPLITS ACROSS THE PEERS, MAYBE

THIS RE-SYNC THRESHOLD NEEDS TO BE SET A LITTLE BIT HIGHER LIKE +5 OR +6 OR +10.

THIS COULD BE CUSTOM SET AND REALLY LONG TERM IS NOT THAT MUCH OF A PROBLEM.

SO THERE MAY HAVE TO BE A PROTOCOL WHICH ALLOWS PEERS TO ASK ANOTHER PEER:
WHICH BLOCK DID YOU ACCEPT AT A CERTAIN IP THRESHOLD, OR ANOTHER IDEA COULD BE:
WHICH BLOCK DID YOU ACCEPT FOR BLOCK NUMBER X, X BEING THE BLOCK NUMBER WHICH WAS DISPUTED AND
MARKED AS DISQUALIFIED. GOOOD.
12  Bitcoin / Development & Technical Discussion / Price Stabilization Algorithm/Protocol/Transactions on: May 12, 2022, 06:21:14 PM
Here is a vague idea to stabilize the price of bitcoin somewhat.

Bitcoin owners/traders/companies interested in stabilizing the bitcoin price could "unite" into some kind of special pool of traders.

Each trader has a "buffer capacity" which can be used to buy or sell bitcoins with some other currency on exchanges.

They are all connected to each other via some protocol, either centralized or preferably decentralized.

Once the bitcoin price starts dropping, one of the traders is chosen to buy some bitcoins with it's buffer capacity.

As long as the bitcoin price keeps dropping, another trader is chosen to again buy some bitcoins with it's buffer capacity.

This continue until the bitcoin price is somewhat stabilized.

If the opposite happens and the bitcoin price rises, then a random trader from this pool is selected, or it could even be round robin, and then some bitcoins from the buffer capacity is sold.

So the buffer capacity could be like a double capacity buffer. Some bitcoins in the buffer and some other currency in the buffer.

Then some bitcoins are sold from this buffer to make the bitcoin price rise less steeple.

Such an algorithm and protocol should reduce the up and down swings somewhat and make bitcoin more resistent against price manipulation by large ammounts of bitcoin buying and selling to make it yo-yo and make it unstable for trading goods and services.

The aid this group in "price stabilization" a special transaction type could be added to bitcoin, which miners will allow to be included in the next block, where no transaction costs/fees are applied by the miners, in an effort from/of miners to help in the stabilization of the coin price.

If miners benefit from a more stable price is unknown to me.
13  Other / Off-topic / Buying cheap second hand gaming machine risky ! (being dumped after Corona) on: May 11, 2022, 05:47:37 PM
I think it is necessary to warn people for the dangerous of buying second hand computers, especially now that the Corona crisis is a bit lower.

Many gamers/people are selling their computers/gaming machines. Trying to find people to buy it.

There is an increased risk that these gaming machines which appear beautifull on the outside and a great buy of value could be manipulated and infected with trojans and others spying software and equipment such that if the buyer were to use internet banking or bitcoin that these "sellers" of "second hand gaming personal computers" could then observe the internet or bitcoin banking and this could lead to compromise of the banking accounts and stealing of funds from the buyer !

So consider this a BIG FAT WARNING to be very carefull with buying second hand computers, that almost seem to good to be true.

(Even first hand/new computers run risks of being infected, but that is a story for a different time)
14  Other / Off-topic / How to transfer millions of Rubles efficiently and safely ? on: April 03, 2022, 11:58:21 AM
See title.
15  Other / Off-topic / How to pay Russia in Ruble ? on: March 31, 2022, 10:41:57 AM
See title.
16  Alternate cryptocurrencies / Altcoin Discussion / Proof of humanity. (Window of oppertunity based on human/uniqueness detection) on: March 28, 2022, 07:06:34 PM
The ideas of "democrazy fixed" where 1 human-only-solveable-puzzle = 1 vote can also be applied to cryptocoin systems:

https://bitcointalk.org/index.php?topic=5391860.0

This idea can be taken and slightly adjusted as follows:

1. The programmers of the cryptocoin system program a new human-only-solveable-puzzle system, possibly keeping it secret or keeping it open at their choice, openness would give a bit more trust.

2. Others can try and program bots/machine learning/deep learning to try and attack it/solve it, in doing so/succeeding they could be rewarded with some coins now or later.

3. In case nobody has successfully programmed any software to solve the puzzles then the system developed at number 1 can be "scheduled" to go into "production" for one run only, very maybe multiple runs, but one run only would perhaps be best.

4. A specific date/time should be chosen when the system goes "into effect" this date/time should be sooner than later to prevent development of bots.

5. From that specific date/time users of the crypto coin system can solve puzzles and earn coins. For example for 1 day or 3 days or 1 week determined by how good the system at 1 is thought to be.

6. During this time the developers of system 1 can also monitor to creation of coins by solved puzzles and could halt the dispensing of coins if ireggularities are detected.

Thus the generation of coins only happens in "phases", "periods", "moments of oppertunity" when systems are available to prevent one's humanity and uniqueness.

To keep the network operational, miners with the usual hashing/proof of work can continue to earn income based on transaction costs/fees.
17  Alternate cryptocurrencies / Altcoin Discussion / Democrazy fixed: 1 human puzzle = 1 vote on: March 28, 2022, 06:29:56 PM
The human voter must solve a puzzle only a human can solve within reasonable time.

The human-only puzzle can be generated by a computer algorithm, the computer algorithm must not know the solution before hand.

The human-only puzzle must not be solveable by deep learning network or machine learning. It must be too difficult or it must be detectable that it was solved by a deep learning network/machine learning network.

Perhaps a slightly wrong answer, which may by typical for humans but not computers might also be of some value to determine the humanness of the voter. Even multiple puzzles could be tried to detect a human brain from a deep learning/machine learning brain.

Once the solved puzzle(s) are analyzed and determined to originate from a human brain, the voter may proceed and cast their vote.

The solution to the puzzles are then broadcasted to a peep 2 peer/distributed system where they are collected.

Before transmission these puzzle solutions + votes are lightly hashed by the voter to prevent manipulation allong the communication line.

Encrypted communication channels with strong miners may be preferred where strong mines can communicate over an encrypted channel and re-hash/re-secure the puzzle solution + vote data with a stronger hash.

The stronger hashed puzzle solution + vote data is then send back to the voter for verification/checking that it is indeed his cast vote.

The voter has a signature which allows the votes to re-call his vote if any irregularity is detected by the voter within period V... in which V is the legal time within votes may be record into the system. Any votes arriving beyond V are invalid.

The voter must have a grace period to recall any wrongly or manipulated votes.

This recall time will be R on top of V so it will be RT = V+R

RT = RecallTime

From 0 to RT the voter may issue re-call transmissions to inform the network that his votes has been manipulated and should be recalled and not counted in the vote totalling.

Or at the very least the vote should be marked as "invalid/recalled" by voter.

To compensate for the vote loss, the voter may re-cast his vote one time by contacting another miner and proceeding to vote again.

This voting times will be VR for votes recalled and will be placed on top of

V+R so it will be V+R+VR thus there will be a time penalty for the voter to do it again to prevent abuse/unnecessary communications with the voting system at the expense of the voters time.

Now one more recall period is issued. V+R+VR+R2 where the voter again may re-call his vote.

As they say, three times is a lucky charm.

This may then be done one last time

V1+R1+VR1 + R2 + VR2 + R3

So basically we can clean this up as:

V1 + R1 + V2 + R2 + V3 + R3

So they voter may broadcast his vote to the system 3 times and he may recall it 3 times.

Where the votes must have gone via a different miner for each V1, V2, V3.

By marking recalled votes in the system, this gives users to possibility to indicate that they believe irregularties or manipulation has occured and then others can investigate the systems of these miners and if they ammount of re-called votes is very high, votes can then decide to not use those miners anymore and thus the system can become a "self-cleaning" system were manipulating systems are out-expelled from the system.

Finally one the total voting period is over:

TV = V1 + R1 + V2 + R2 + V3 + R3

the votes are tallied/summed by the p2p system, everybody participating with a node can then start summing the results and see the voting results.

What is left to do is an injection system where nominees/groups can inject themselfes into the system ready to be voted upon.

Such an injection system is necessary as well to prevent "pre-selected candidates" by a small control group.

Such an injection system may be and will possibly be abused though it will be necessary to store all injectees into a nice tree of some sorts and a search system should be enabled so votes can search for the parties or groups or people they want to vote for.

One possible idea which comes to mind is that nominees can create a public key/number which they can put on their cards/websites/e-mails etc to inform the voters that it is them.

The voter can then search for this public key in the system. These public keys are also distributed among the p2p system and the associated nominee data.

The voter can thus cast it's vote by including this public key in it's vote as the nominee.

Additional data about the candidate/nominee should also be included into the system. So that the system itself also becomes a slight information distribution system, such that voters can read about intentions of the candidate/nominee especially in light with todays boycotts/bans of certain candidates from existing media/communication channels.

Thus the candidate will have a remaining/functioning communication channel to broadcast it's view points for the voter to decide upon.

This data may be limited to within reasonable limits, 1 megabyte of data seems reasonable per candidate, where an expected maximum candidate is 1000.

In case more and more candidates are added to the system, this upper limit can start to shrink down to a minimum limit of 32 kilobytes.

In the case of system/candidate attack, this should still allow some reasonable ammount of information to be acquired/stored/broadcasted.

To inject candidate information into the system should require some light mining by the candidate themselfes to prevent candidate spam.

To further prevent candidate spam there will be an opening time when the system can be injected with candidate information.

This date will be D.

The system itself will present the candidate again with a human-only-solveable puzzle. The candidate must solve this puzzle first.

Once this puzzle is solved the candidate will be injected legally into the system. (Additional some light mining could be introduced, but barring candidates by technical means does not feel good, thus a human-only solveable puzzle should be sufficient).

After DT time this candidate period will be over.

Where DT is the time candidates have to inject themselfes into the system.

DT could be set to 1 day.

After DT has passed voting can begin. Where V + R and such begin.

This should keep candidate spam to a minimum.

In case it's still to high. DT can be lowered to 1 hour right before voting begins.

(Consider this document/idea an initial draft for such a proposed system !)

Bye for now,
  Skybuck Flying ! =D
18  Economy / Economics / Digital Dollar:Software controlled money which expires ! Spend it or loose it! on: March 10, 2022, 02:15:03 AM
The United States of America went through three great shocks:

1. Creation of Federal Reserve
2. 1933 gold confiscation
3. Nixon ending gold/dollar convertability

Now the United States of America is planning a secret fourth shock:
4. The destruction of the dollar/cash and the introduction of a digital dollar !

(The fear is that this will give the goverment to much control over it's citizens)
(The 2022 Russia special military operation in Ukraine has lead to the rest of the world banning Russia from all kinds of systems, including banking systems, services, companies, etc. a major sign of things to come. Will Russia transition towards bitcoin ? Will other countries transition towards bitcoin ? Will there be a war between bitcoin and digital dollar ? Will there be a crack down on bitcoin ? Was the covid-19 pandemic a beta test to see how people would react to cashless systems and lock downs, restrictions, denied access, etc ?!)

The rumor is that on 20 may 2022 current USA president Biden will announce this on television, just like a USA President Nixon shocker !

Details:

    Research Firm’s Past Prediction 1: DotCom Bust. In the March 2000 issue of International Speculator, Doug Casey wrote: “Will this be the first bubble in history that doesn’t bust? I think not. … I’m of the opinion that the world’s financial structure is a gigantic house of cards, and when the inevitable happens it’s going to be a catastrophe.” The Nasdaq reached a then-peak of 5,132 on March 10, 2010. Sadhttps://finance.yahoo.com/chart/%5EIXIC)

    Nancy Pelosi’s Leaked Document: Refers to an early draft of the CARES act, which contained language for a digital dollar on page 314: https://apps.npr.org/documents/document.html?id=6817441-House-Democrats-Counterproposal-For-Stimulus

    Senate Bill introduced by Sherrod Brown contains language to establish a digital Dollar: https://www.banking.senate.gov/imo/media/doc/SIL20449.pdf

    Organizations that support digital currencies through Better than Cash Alliance includes U.N., Clinton Foundation, and IMF: https://www.betterthancash.org/about/members

    Federal Reserve exploring digital Dollar: https://www.federalreserve.gov/newsevents/speech/brainard20200813a.htm

    Headline: Fed Prepares to Launch Review of Possible Central Bank Digital Currency: https://www.wsj.com/articles/fed-prepares-to-launch-review-of-possible-central-bank-digital-currency-11633339800

    Chase, Wells Fargo, Citigroup all have issued digital wallets in preparation for digital currencies:
        https://www.citi.com/credit-cards/credit-card-rewards/digital-wallets-and-virtual-wallets
        https://www.wellsfargo.com/mobile/payments/
        https://www.chase.com/digital/digital-payments/additional-wallets

    Starbucks, McDonalds and Whole Foods have each taken steps to ban cash to varying degrees

    Visa patent: http://appft1.uspto.gov/netacgi/nph-Parser?Sect1=PTO1&Sect2=HITOFF&d=PG01&p=1&u=/netahtml/PTO/srchnum.html&r=1&f=G&l=50&s1=20200151682.PGNR.

    Three shocks referred to are creation of Federal Reserve, 1933 gold confiscation, and Nixon ending gold/dollar convertability

    Claim: ‘$1.9 Trillion’ refers to number of paper US Dollars in circulation: https://www.federalreserve.gov/faqs/currency_12773.htm

    Reference to Monday morning is Monday, March 23rd. Nancy Pelosi introduced the Cares Act with Digital Dollar language: https://news.bloomberglaw.com/banking-law/house-democrats-consider-digital-wallets-for-crisis-payments

    Bill Gates Supports the End of Cash: Betterthancash.org is a project of the Bill and Melinda Gates Foundation. The organization’s goal is to replace cash with digital currencies worldwide.

    Microsoft Patent: https://patentscope.wipo.int/search/en/detail.jsf?docId=WO2020060606

    Companies using various ‘cashless’ policies:
        https://www.pymnts.com/cash/2019/mcdonalds-kiosks-useless-millions-unbanked-united-states-households/
        https://www.disneyfoodblog.com/2018/09/14/disney-worlds-animal-kingdom-lodge-has-gone-cashless-but-what-does-that-mean/
        https://www.eater.com/2018/8/8/17664984/shake-shack-cashless-kiosks
        https://www.seattletimes.com/business/starbucks/starbucks-will-reopen-85-percent-of-its-coffee-shops-but-with-new-protocols/
        https://fortune.com/2020/04/27/whole-foods-cash-payments-restricted-some-stores/
        https://www.eatthis.com/cashless-restaurants-coronavirus/
        https://www.paymentssource.com/list/7-companies-that-dare-to-deny-cash

    Bill Gates quote: https://www.economist.com/by-invitation/2020/04/23/bill-gates-on-how-to-fight-future-pandemics

    Panic of 1907: https://en.wikipedia.org/wiki/Panic_of_1907

    “Dangerous legislation’ refers to Federal Reserve Act of 1913: https://www.google.com/search?q=federal+reserve+act+of+1913&oq=federal+reserve+act+of&aqs=chrome.0.0j69i57j0l6.3725j0j4&sourceid=chrome&ie=UTF-8

    Great Depresson “Employment in manufacturing declined to 67 percent of its 1929 level by 1933.”: https://www.encyclopedia.com/economics/encyclopedias-almanacs-transcripts-and-maps/industry-effects-great-depression

    96% of dollar value lost: https://www.politifact.com/factchecks/2010/nov/24/virginia-tea-party-patriots/virginia-tea-party-says-dollar-has-lost-98-percent/

    Gold confiscation refers to Emergency Banking Act of 1933 and Executive Order 6102:
        https://www.federalreservehistory.org/essays/emergency_banking_act_of_1933
        https://www.presidency.ucsb.edu/documents/executive-order-6102-requiring-gold-coin-gold-bullion-and-gold-certificates-be-delivered

    $30 million in wealth: https://auctions.stacksbowers.com/lots/view/3- 6TDFN/1933-saint-gaudens-double-eagle

    The 3rd Shock refers to the Nixon Shock, address given August 15, 1971: https://www.youtube.com/watch?v=7_Xw5tWsOQo

    https://www.thedrive.com/news/9942/check-out-this-cool-infographic-of-ford-f-150-prices-over-the-years Truck prices here. – Spreadsheet: Real Price of Wheels

    https://www.infoplease.com/business-finance/poverty-and-income/capita-personal-income Assume 2,080 working hours in a year:
        https://www.google.com/search?q=how+many+working+hours+in+a+year&oq=how+many+working+hours&aqs=chrome.0.0j69i57j0l6.3365j0j4&sourceid=chrome&ie=UTF-8

    Hours to afford a mortgage in each city: https://www.forbes.com/sites/amydobson/2018/10/30/how-many-hours-you-need-to-work-a-month-to-afford-a-mortgage-in-each-city/?sh=e4b613a42857

    A Digital Nixon Shock? https://www.project-syndicate.org/commentary/digital-money-alternatives-to-dollar-by-harold-james-2021-07

    1971 References: https://wtfhappenedin1971.com/

    Claim: 7-year auto loan: https://www.wsj.com/articles/the-seven-year-auto-loan-americas-middle-class-cant-afford-their-cars-11569941215

    Early draft of CARES Act: https://apps.npr.org/documents/document.html?id=6817441-House-Democrats-Counterproposal-For-Stimulus

    Senate Bill: Sherrod Brown introduced a bill in the Senate in March, 2019 that introduced a Digital Dollar: https://www.banking.senate.gov/imo/media/doc/SIL20449.pdf

    Microsoft Patent 060606: https://patentscope.wipo.int/search/en/detail.jsf?docId=WO2020060606

    Visa patent: http://appft1.uspto.gov/netacgi/nph-Parser?Sect1=PTO1&Sect2=HITOFF&d=PG01&p=1&u=/netahtml/PTO/srchnum.html&r=1&f=G&l=50&s1=20200151682.PGNR.

    Bill Gates Pledge: https://givingpledge.org/About.aspx

    The Better Than Cash Alliance:
        https://www.betterthancash.org/about/purpose
        List of BTC Alliance members can be found on ‘members’ link

    ID2020: https://www.biometricupdate.com/201909/id2020-and-partners-launch-program-to-provide-digital-id-with-vaccines

    Digital Dollar Control Over Population: https://www.coindesk.com/digital-dollars-will-give-the-state-too-much-control-over-money

    China Social Credit Score: https://www.businessinsider.com/china-social-credit-system-punishments-and-rewards-explained-2018-4

    Introducing the ‘Great Reset,’ World Leaders’ Radical Plan to Transform the Economy: https://thehill.com/opinion/energy-environment/504499-introducing-the-great-reset-world-leaders-radical-plan-to

    Fed’s Lael Brainard Pushes Digital Dollar as Central Bank Currency Race Heats Up: https://www.cnbc.com/2021/05/24/feds-lael-brainard-pushes-digital-dollar-as-central-bank-currency-race-heats-up.html

    https://www.opensecrets.org/members-of-congress/don-beyer/expenditures?cid=N00036018&cycle=2016&type=I

    “Notwithstanding any other provision of law, the Board of Governors of the Federal Reserve System is authorized to issue digital versions of Federal reserve notes in addition to current physical Federal reserve notes.”: https://www.congress.gov/bill/117th-congress/house-bill/4741/text

    Ron Paul Quote: https://internationalman.com/articles/the-war-on-cash-transparently-totalitarian/

    Dual threat here: savings in cash could expire: https://www.thelocal.se/20160629/use-it-or-lose-it-swedish-bank-notes-expire-this-week/ -or- banks could take interest rates negative, and depositors would lose on every dollar in the bank: https://www.marketwatch.com/story/how-negative-interest-rates-take-money-out-of-your-pocket-2016-04-12

    Cyprus Central Bank Announces 47.5 Percent Haircut: https://www.reuters.com/article/cyprus-bankofcyprus/cyprus-central-bank-announces-47-5-percent-haircut-on-large-bank-of-cyprus-deposits-idUSL6N0G033120130730

    Chase accused of purging accounts of conservatives: https://nypost.com/2019/05/25/jpmorgan-chase-accused-of-purging-accounts-of-conservative-activists/

    Expiring currency technlogy: https://bfsi.economictimes.indiatimes.com/news/policy/digital-currency-yuan-comes-with-an-expiry-date-spend-or-it-will-vanish/82059471

    FinTech: https://www.thewealthadvisor.com/article/fintech-killing-banks-23-trillion-opportunity-ahead

    Biden Bank Regulator Nominee Reveals Her Plan to Radically Transform US Economy: https://thehill.com/opinion/finance/578153-biden-bank-regulator-nominee-reveals-her-plan-to-radically-transform-us?rl=1

    Biden’s Task: Overhaul the Economy, as Fast as Possible: https://www.nytimes.com/2021/03/24/business/biden-economy-infrastructure.html

    Biden Pitches ‘Historic’ Spending Plan to Transform America: https://www.barrons.com/news/biden-announces-1-75-trillion-us-spending-deal-ahead-of-europe-trip-01635426608

    Investors Can’t Get Enough of Fintech. Here’s Why: https://www.netsuite.com/portal/business-benchmark-brainyard/industries/articles/entrepreneur/fintech-investors.shtml

    Fintech Mark Reports Rapid Growth During Covid-19 Pandemic: https://www.worldbank.org/en/news/press-release/2020/12/03/fintech-market-reports-rapid-growth-during-covid-19-pandemic

    Fintech will lead the charge in the post-COVID-19 recovery: https://www.fintechmagazine.com/financial-services-finserv/fintech-will-lead-charge-post-covid-19-recovery

    2 Out of 3 Americans say they would take a pay cut to work remotely full time: https://www.businessinsider.com/65-percent-americans-take-pay-cuts-work-remotely-full-time-2021-8

    Why are Corporations Moving to Texas and Florida? https://www.ny-engineers.com/blog/why-are-corporations-moving-to-texas-and-florida

    February 28, 2022 date of action refers to report from Bloomberg that Biden administration will issue executive order in February with language about Central Bank Digital Currency: https://www.bloomberg.com/news/articles/2022-01-21/white-house-is-set-to-put-itself-at-center-of-u-s-crypto-policy?sref=qpwbmgSU

    May 20, 2022 date refers to end of comment period for Federal Reserve/CBDC white paper: https://www.bloomberg.com/news/articles/2022-01-21/white-house-is-set-to-put-itself-at-center-of-u-s-crypto-policy?sref=qpwbmgSU

Feedback ends 20 may 2022:

https://www.bloomberg.com/crypto?sref=qpwbmgSU

Here is the latest:

https://www.bloomberg.com/news/articles/2022-03-09/biden-pushes-for-more-coordinated-approach-to-crypto-oversight?srnd=cryptocurrencies-v2

Software controlled money which expires ! spend it or loose !

Some of this is already happening:

Negative interest rates on bank accounts !
Taxes on imaginery profits on bank accounts !
Disappearing 500 euro bills, will they come back because of inflation ?
Disappearing ATM machines.
Disappearing banking facilities.
19  Other / Politics & Society / PFizer destroyed in this video. Watch only if you can calculate on: January 07, 2022, 04:23:36 AM
Video:

https://rumble.com/vqx3kb-the-pfizer-inoculations-do-more-harm-than-good.html

Definitions from website:

https://www.ncbi.nlm.nih.gov/books/NBK63647/

From table 18.1 link:

"
Relative risk (RR)
the rate (risk) of poor outcomes in the intervention group divided by the rate of poor outcomes in the control group. For example, if the rate of poor outcomes is 20 per cent in the intervention group and 30 per cent in the control group, the relative risk is 0.67 (20 per cent divided by 30 per cent). The relative risk is 1 when the intervention has no effect, below 1 when it does good and above 1 when it does harm (see Absolute risk reduction).
"

"
Relative risk reduction (RRR)
the extent to which the risk of a poor outcome is reduced by an intervention. In the example given in Relative risk (above), the relative risk r
"

"
Absolute risk reduction (ARR) or risk difference
the difference in the incidence of poor outcomes between the intervention group of a study and the control group. For example, if 20 per cent of people die in the intervention group and 30 per cent in the control group, the ARR is 10 per cent (30–20 per cent).
"

Performed calculation:

162 / 18325 = 0,00884038199181446111869031377899 * 100 = 0,88403819918144611186903137789905

8 / 18198 = 0,00043960874821408946038026156720519e-4 = 0,04396087482140894603802615672052

rr = 0,04396087482140894603802615672052 / 0,88403819918144611186903137789905 = 0,0497273475989085763053598346854
rrr = 1 - 0,0497273475989085763053598346854 = 0,9502726524010914236946401653146 * 100 = 95,02726524010914236946401653146% = RRR

absolute = % die in normal=control group   - % of intervention group

Let's suppose all covid cases 162 and 8 die because of futher lack of info then:
absolute risk reduction = 0.88 - 0.04 = 0,841

So the video checks out, only 1 procent risk reduction.

However it gets more interesting later on in the video because the vaccines have side effects and actually destroys health and kills people.

Long story short it seems to be the vaccine does more harm than good !

Watch video yourself ! I only watch first part up to this calculation point but I will watch the rest as well.

Now you know why USA grants this SCAM Company Immunity during Emergency Situation.

As soon as Emergency Situation is gone, vaccinations will/most stop or this Company goes bankrupt in law suits !

Thus incentive for control freaks to lengthen the Emergency Situation.

(Save your life, enjoy your bitcoins !)
20  Economy / Speculation / Bitcoin run up is coming on: November 06, 2021, 08:21:14 AM
Now that the inflation is rising in Europe, caused by energy costs ?! <G> there will be a run on bitcoin to maintain wealth.

The inflation is already at 4 to 5% maybe even higher.

This can not continue for longer before rich people start to get very nervous.

If there ever was a time where bitcoin is going to skyrocket out of control, it's the coming 3 to 6 months ! Wink =D

Banks will panic, Banks will buy bitcoin too, with bank account holder savings.

And the bank account holders will be the nigga holding the bag, worthless money caused by inflation.

From riches to rags ! LOL.

I don't have the balls to buy bitcoin right now.

But if you are balsy... then you now know what to do.
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