Not a movie…
Just Chinese Military Robot Dogs. https://video.nostr.build/10cff79c408f22bedbe1354d588fef13c8cee6fd371cfd479797400fa089f7eb.mp4
Metal gear solid predicted this
I hope you don't sell everything
Wait 50K incoming, classic -30% bull market pullback... Idk
“People with billions of dollars don’t want to invest in crypto networks that support anarchists,” Saylor explained.
Careful with this guy. He is about to trait all of us.
https://www.btctimes.com/insight/michael-saylor-on-bitcoins-next-billion-hodlers
He brags about people over the world being able to buy it and store it without permission and then he says this. Weird this guy is, or this source maybe is not legit
Network State Citizen lol
Sweet, I just ate McDonald's ! I should consider local food
Your server is a VM and you save the disk file to cloud storage ?
Same fuck coffee, it's like a little drug
Yes it is the state of bitcoin , if you want to be sovereign you have to keep this you can't prune it, there are no limits on how much it can grow
It makes your bitcoin node less portable . Initial block download more costly
I am waiting for a Phoenix web interface like a lnbits or spark
Mining pools could be required to not include transactions that were not initiated by a Virtual Asset Service Provider like a CEX .
I wonder if BTC Lisp could be a less invasive script upgrade than Simplicity
What happened ?
Utxo set analysis time!
I have found a "toolchain" to extract taproot utxo pubkeys that's at least *reasonably* efficient - more on that, at the end, for the engineers.
But here's an analysis of a snapshot of the whole 167M utxo set as of 16th March 2024.
Of the 167M utxos, a full 39M are taproot (in other words, about 1 in 4 of all the individual "bits of bitcoin" that exist in our global consensus, are taproot - but not 1 in 4 *bitcoins*, i.e. not by value)!
Of that 39M, 33M are *sub 1000 sats*, i.e. basically dust or near dust. Pretty obviously, these will be "data carrying" type (probably ordinals stuff? sorry I don't know the details). Here's a rough breakdown of the taproot outputs in the utxo set by value:
Amount in sats Number of utxos(taproot only)
> 5 million 51674
> 2.5 million 81512
> 1 million 154130
> 500k 238060
> 250k 352235
> 100k 800843
> 50k 1043038
> 25k 1333547
> 10k 2853756
> 1000 sat 6084116
> 100 (i.e. ~all) 39034007
This will not be news to most. IMO taproot *economic* usage only picks up when Lightning implementations start using it; there is only fairly limited other incentive, for now.
For my taproot based 'anonymous usage project' (see recent posts), a filter of about 500k sats makes sense to me - anon sets of 250k are pretty decent, though as we've seen, we can definitely support much larger sets.
About the "toolchain".
Step 1 is to run the dumptxoutset RPC call against Core. As noted, this currently returns an 11GB data set of 167 million coins, so be aware if your setup is size constrained.
Step 2 is to parse the custom format of this data set. I believe it's Level DB. I found the easiest way was to run this useful tool: https://github.com/theStack/utxo_dump_tools/ against the file created by Step 1. This creates a sqlite database with intelligible columns in the 'utxo' database (like 'value', 'scriptpubkey').
Then I wrote a primitive Python script to do a SELECT from utxos WHERE value >=? AND scriptpubkey LIKE '5120%' .. something along those lines.
I can directly take the output of Step 3 as input to the aut-ct tool I've been talking about recently to create tokens.
Thank you for this analisys, I hope storage hardware gets cheaper
At 39 I will work hard on bitcoin industry related projects and chill with my loved ones on the week-end, cheers