A network split is different from a chain fork. A network split happens in the physical layer. Something physically disconnects one part of the internet from the rest, like cutting a bunch of undersea cables or an EMP detonation. This will almost certainly lead to a chain fork when miners on one side of the fork discover a block that the other side doesn't know about. Blockstream satellite, if operational, will prevent this scenario. A nation state attacker or one with equivalent resources will know this and will try to knock out the satellite feed. We're talking superpower world war type of scenario. My above post was more limited in scope, just talking about risk from software bugs.
The American healthcare industry is so hilariously incompetent right up until you need to use it for something. Then it's not funny, only infuriating.
Some personal news: Today's my first day with nostr:npub1sqzr42dj8vx32yd5jcvvl3ytux45kl0etgf6y2ymjvmd7lqmuwmqk9vk7v as their content manager, where I'll help them out with, well, content 🤓
Excited to be part of an amazing #Bitcoin company and to help out in orange pilling 100M Europeans as well as the rest of the world later!
Congrats!
I just sent a lightning transaction to ur npub nostr:npub18ams6ewn5aj2n3wt2qawzglx9mr4nzksxhvrdc4gzrecw7n5tvjqctp424@cashu.me
I just sent a lightning transaction to ur npub nostr:npub18ams6ewn5aj2n3wt2qawzglx9mr4nzksxhvrdc4gzrecw7n5tvjqctp424@cashu.me
How about a cashuthon? ;-)
use payjoin with your bitcoind wallet‼️
It works! Coolest thing I have seen all day. 🤙
> you never have to bend over again
IRS: hold my beer
Nah, large miners will just use the pool block template. I def think we will see a situation where miners in some legal regimes are forced to censor transactions by the state. They will be less competitive than miners in more free jurisdictions and hashrate will geographically redistribute accordingly. States that do this will kneecap their own bitcoin mining industries but bitcoin as a whole will be fine. Nothing stops this train. 🚂
Oh! I almost forgot the biggest benefit. Sv2 reference implementation is written in rust.
Sv2 is a massive upgrade that miners should have rolled out a long time ago.
Biggest benefits:
- security: it prevents trivial hashrate hijacking by moving from a plaintext messaging protocol to an encrypted one
- efficiency: network messages are compressed, this should reduce the rate of empty blocks
- decentralization: miners can mine their own block templates, this doesn't solve censorship per se but it distributes the ability to censor transactions among miners, network participants who are incentivized to mine the most profitable txs
This is already how it works.
Yes. Sv2 support makes pool censorship meaningless.
There are two different sets of rules that your bitcoin node uses to validate new data it receives from other nodes. The most important rule set is called consensus. These rules are checked against new blocks that are sent across the network. If we fuck up consensus it creates a chain fork. Eventually one fork will win and the other will lose. The transactions that were confirmed on the losing fork will be reversed when the fork is eventually resolved. In this scenario the price of bitcoin will plummet, trust in the system will degrade, and every bitcoin business loses a ton of money.
The other set of rules is far less critical. It's called mempool policy, or policy for short. This ruleset is applied to new transactions that are received from the bitcoin peer-to-peer network and its purpose is to prevent DoS attacks on the whole network. Transactions that fit within this ruleset are called 'standard'. Non-standard transactions will simply be dropped by your bitcoin node. No chain fork, no problem really, except for the person trying to get this transaction mined. If you want to get a non-standard tx confirmed (like one with a giant script such as a large inscription) you need to skip the bitcoin peer-to-peer network and send it directly to a miner. Most inscriptions are standard and are sent through the bitcoin p2p network.
I have seen conflicting stories about whether Ocean is actually censoring these transactions. We will know for sure when they mine a block. According to the Ocean dashboard, median time to next block is 14 days, so in Two Weeks™. Regardless, I fully expect Luke DashJr to censor inscriptions given his public statements and his work on bitcoin core patches intended to accomplish exactly this goal.
Yes. Ready to buy one today.