Bitcoin-Core v27.1
is not a “full-node”
(there is not such node so far), but is the recent iteration of a series of versions;
i.e. an “up-to-date node”.
#bitcoin
#Study_BitCoin
There is not
“full” node
and such never existed in the System Bitcoin in its entire history so far.
When such node is ever released to the public, then Bitcoin will ossify at its adoption.
In reality, the term “full node” aims to indicate an
“up-to-day node”;
an recent iteration in a series of versions.
#bitcoin
The framing for dumb people 🤡:
Archival Node
and
Prune Node
The framing for intelligent people 😎:
Node
and
Limited Node
Choose wisely what you trust…
#Bitcoin
The fallacious narrative for dumb people:
“The Fee Market” 🤡
The real narrative for intelligent people:
“The Fee Auction” 😎
Choose wisely what you trust…
#Bitcoin
The fallacious narrative for dumb people:
“Blockspace demand” 🤡
The real narrative for intelligent people:
“Monetary transaction processing demand” 😎
Choose wisely what you trust…
Waiting for the spam in #Bitcoin to abate or taking action?
It can’t be done without a hard-fork; and with it is SegWit whether abolished or fully integrated into the block header…
#Bitcoin
If the software developers participating in the FOSS Bitcoin Businesses just only understand this, then, they wouldn’t desperately be seeking fiduciary fiat currency grants coming from Cantilloners!
#Hard_money_and_donations
“under a monetary order based on the effective use of [hard money], increased savings sooner or later manifest themselves in increased monetary donations. A savings-induced decline in the return on capital diminishes the opportunity cost of donations. People will therefore tend to donate more of their money.”
Jörg Guido Hülsmann
Abundance, Gratitude, and the State
#Bitcoin
The adoption of Bitcoin-Core’s node software, as the only provider of the software, is a threat for Bitcoin.
Luckily there are others providers; however, in no way, a relevant, effective or beneficial current state of affairs for node software users.
#Bitcoin
The next Soft-Fork won’t come without any concessions to mining-pools… (it will be probably in increase of weight capacity or with additional and institutionalized or normalized new revenue streams, …) at expense of non-mining nodes…
#Austrian_Economics
Of course most humans need objective evidence or objective reasons for them to assign value to something.
Without the objective reasons the entity being considered for valuation would not stand firm and rather have short legs and “evaporate” into nothing. That happens to lies, scams, fallacies, …
The fundamental is, “value” is a matter of relativism, an ordinal entity, a subjective and situational comparison.
“Value” is not a matter of absolutism, a cardinal entity, an inherent attribute of an entity.
#Bitcoin
There is not “legacy” coins; these transactions are the only ones being fully verified by “ALL” verifying nodes.
Bitcoin coins; Bitcoin UTXOs
and
Bitcoin-Core coins; Bitcoin-Core UTXOs ?
Or rather:
Nakamoto-Andresen UTXOs
and
Wuille UTXOs ?
#Bitcoin
The block size wasn’t increased.
In reality it wasn’t increased; it was installed a parallel structure via witness field whose merkle root (witness commit) is arbitrarily inserted via OP_Return into the coinbase transaction. And the nodes are verifying adapted rules for this new condition.
#Study BitCoin
#Study Austrian Economics
#Bitcoin
Remember:
Archival Nodes are just as important as Mining-Nodes.
Archival-Nodes provide processed transactions packets from the past.
Mining-Nodes provide processed transactions packet from the just immediate past.
Through a parallel structure called the Witness field. And the protection of it via witness commit through OP_Return in the Coinbase transaction. And non-mining nodes verifying that new condition.
In simple words, SegWit is a manifestation of arbitrary data insertion.
Remember in Bitcoin everything is valid until invalidated explicitly.
#Bitcoin
There is not such “full node”; not even node software Bitcoin-Core client 27.1.
Think & test by yourself the behavior of this software regarding, for example:
• SegWit V2, V3, V4, … V15
• Taproot’s Annex
• Tapscript’s OP_SUCCESS opcodes
& the resulting UTXO.
#Study!
Furthermore, when a so called “full node” software ever appears, released, deployed and adopted, then at that point Bitcoin have Ossified!
👀 nostr:note1jpadnsrt289tm34dzeg5ua3zlhysqenk9tujgcdg2wtyzt367stquvfjug
👀 (Remember) 