(This is a covert message that hopefully the author doesn't see and awaken..but I did learn this today and it was interesting.)
Essentially, all the terms we use today to describe Bitcoin were made up and at one point "Proof of Work" was going to be called "Bread Pudding."
Gary is such a pussy....
SEC delays BlackRock, Valkyrie spot bitcoin ETFs decision
Industry experts anticipated the SEC’s move to postpone its decision
BY
KATHERINE ROSS
/
SEPTEMBER 28, 2023 04:42 PM
https://blockworks.co/news/sec-delays-bitcoin-etfs-valkyrie-blackrock
Hal Finney and Satoshi email exchange. Blast from the Past, November 9, 2008.
Me:
As a Code Pounder, I truly appreciate this e-mail exchange between Hal Finney and Satoshi Nakamoto. (Some of you will think it is Hal talking to himself?) Regardless, it shows how Nakamoto was an expert coder, in C++, and wrote all the Bitcoin code to solve all the perceived problems BEFORE he released the White Paper.
This email hits home with me because the first Tweet I sent to Craig S. Wright was to simply tell any judge or juror to test Craig on his ability to code in C++. Game over. If you have ever interviewed someone who says they can code on their resume, you bring in an expert coder to ask a few questions. Only a few questions are needed. Craig Wright immediately blocked me for that Tweet. Why? His resume is fraudulent. His ability to code is fraudulent. CSW is a fraud.
Hal and Satoshi:
Bitcoin P2P e-cash paper
2008-11-09 01:58:48 UTC - Original Email
Hal Finney wrote:
> it is mentioned that if a broadcast transaction does not reach all nodes,
> it is OK, as it will get into the block chain before long. How does this
> happen - what if the node that creates the "next" block (the first node
> to find the hashcash collision) did not hear about the transaction,
> and then a few more blocks get added also by nodes that did not hear
> about that transaction? Do all the nodes that did hear it keep that
> transaction around, hoping to incorporate it into a block once they get
> lucky enough to be the one which finds the next collision?
Right, nodes keep transactions in their working set until they get into a block. If a transaction reaches 90% of nodes, then each time a new block is found, it has a 90% chance of being in it.
> Or for example, what if a node is keeping two or more chains around as
> it waits to see which grows fastest, and a block comes in for chain A
> which would include a double-spend of a coin that is in chain B? Is that
> checked for or not? (This might happen if someone double-spent and two
> different sets of nodes heard about the two different transactions with
> the same coin.)
That does not need to be checked for. The transaction in whichever branch ends up getting ahead becomes the valid one, the other is invalid. If someone tries to double spend like that, one and only one spend will always become valid, the others invalid.
Receivers of transactions will normally need to hold transactions for perhaps an hour or more to allow time for this kind of possibility to be resolved. They can still re-spend the coins immediately, but they should wait before taking an action such as shipping goods.
> I also don't understand exactly how double-spending, or cancelling
> transactions, is accomplished by a superior attacker who is able to muster
> more computing power than all the honest participants. I see that he can
> create new blocks and add them to create the longest chain, but how can
> he erase or add old transactions in the chain? As the attacker sends out
> his new blocks, aren't there consistency checks which honest nodes can
> perform, to make sure that nothing got erased? More explanation of this
> attack would be helpful, in order to judge the gains to an attacker from
> this, versus simply using his computing power to mint new coins honestly.
The attacker isn't adding blocks to the end. He has to go back and redo the block his transaction is in and all the blocks after it, as well as any new blocks the network keeps adding to the end while he's doing that. He's rewriting history. Once his branch is longer, it becomes the new valid one.
This touches on a key point. Even though everyone present may see the shenanigans going on, there's no way to take advantage of that fact.
It is strictly necessary that the longest chain is always considered the valid one. Nodes that were present may remember that one branch was there first and got replaced by another, but there would be no way for them to convince those who were not present of this. We can't have subfactions of nodes that cling to one branch that they think was first, others that saw another branch first, and others that joined later and never saw what happened. The CPU power proof-of-work vote must have the final say. The only way for everyone to stay on the same page is to believe that the longest chain is always the valid one, no matter what.
> As far as the spending transactions, what checks does the recipient of a
> coin have to perform? Does she need to go back through the coin's entire
> history of transfers, and make sure that every transaction on the list is
> indeed linked into the "timestamp" block chain? Or can she just do the
> latest one?
The recipient just needs to verify it back to a depth that is sufficiently far back in the block chain, which will often only require a depth of 2 transactions. All transactions before that can be discarded.
> Do the timestamp nodes check transactions, making sure that
> the previous transaction on a coin is in the chain, thereby enforcing
> the rule that all transactions in the chain represent valid coins?
Right, exactly. When a node receives a block, it checks the signatures of every transaction in it against previous transactions in blocks. Blocks can only contain transactions that depend on valid transactions in previous blocks or the same block. Transaction C could depend on transaction B in the same block and B depends on transaction A in an earlier block.
> Sorry about all the questions, but as I said this does seem to be a
> very promising and original idea, and I am looking forward to seeing
> how the concept is further developed. It would be helpful to see a more
> process oriented description of the idea, with concrete details of the
> data structures for the various objects (coins, blocks, transactions),
> the data which is included in messages, and algorithmic descriptions
> of the procedures for handling the various events which would occur in
> this system. You mentioned that you are working on an implementation,
> but I think a more formal, text description of the system would be a
> helpful next step.
I appreciate your questions. I actually did this kind of backwards. I had to write all the code before I could convince myself that I could solve every problem, then I wrote the paper. I think I will be able to release the code sooner than I could write a detailed spec. You're already right about most of your assumptions where you filled in the blanks.
Satoshi Nakamoto
Bitcoin: "Bitcoin is a Database" (Opinion)
*** My first time putting in all opinion
By BR
September 27, 2023
The greatest experts in Bitcoin are able to communicate clearly the deep and vast complexity of Bitcoin in few words. My persona is defined as a cancer patient advocate, Business Intelligence (BI) pro, but now at my my core I am a Bitcoin Advocate.
Bitcoin checks all my boxes. Professionally and Personally.
PROFESSIONAL
I spent (past tense) 35 years working with data with some of the top Fortune 500/50 companies. I know when companies got it right and then when they got it wrong. I have worked on 1000s of databases with 100,000s of thousands of tables and countless rows.
My biggest contribution to all my employers and expertise was the ability to Join all the disparate data inside the company no matter where it was in the 'Enterprise' into a consumable product for my internal customers. In the early days, it was on mainframe computers, data on disk or tape. My career ended by joining data on Oracle, DB2/2, MS SQL Server, any of the Big Data. IT DOESN'T MATTER where the data is/was, the good ones can get to it and get it to you in any format you want to work with.
Like it in Excel? Are you a person who passes off all BI Professional's hard work as your own giving no credit? I worked with 1000s of you people.
You did that to my coworkers and me for decades, we were the Behind the Scenes guys, seldom rewarded or acknowledged. Wait for the punchline, or should I say, Cock Punch line, on all this later on in this post....
Side note: I used a tool called FOCUS/WebFOCUS from Information Builders, now TIBCO, a competitor to MicroStrategy. It worked. It just worked in every scenario. Information Builders was founded by the late Gerald Cohen, I got to talk to him several times, he was an amazing guy and mentor. Saylor has filled that void for me, not only with Bitcoin but with his knowledge on Business Intelligence, read data.
PERSONAL -
Cancer Advocacy (Since 1997- volunteer):
When my wife was diagnosed at 31 with her incurable Stage IV non-Hodgkin lymphoma, I turned to what I knew best, the data. (Data is useless by itself unorganized, the formula is Data 2 Information 2 Knowledge 2 Power)
I went from not even knowing lymphoma was cancer to being able to go toe to toe with the best minds in the world on the disease. At the time, I started using a Mailing List Manager (MLM) called Majordomo, the exact one Satoshi used. It was a powerful way for me to get out the information other lymphoma patients and their families needed. I knew the importance of automatically archiving the emails on the web so people could go back and search all my posts. It started out as 'FindMail' then 'eGroups' then 'Yahoo Groups.' Regardless, it worked great, people who liked to get the emails in personal disconnected inboxes were happy and those who liked summaries or a great way to search everything on a website were happy.
This was before Google even, it was super hard for me to find pertinent, trusted lymphoma information, I used AltaVista and Hotbot and rarely AskJeeves. It was manual, I spent 1000s of unpaid hours compiling data into information. (Any doctors, this was when Ritxuan was IDEC-C2B8 and I knew widows whose husbands died taking Rituxan before they learned to give massive doses of Benadryl during infusion. Further, I got to shake Ron Levy's hand and I will never forget Thanksgiving Day 1997.) My wife is alive today because of that one man.
I took comfort hearing the experts say how informed their lymphoma patients were knowing I was running one of the largest Cancer, let alone lymphoma, 'email lists out there.'
Bitcoin Advocacy (as of 2020)
Today, I am a Bitcoin Advocate. With everything I know from BI to Cancer Patient Advocate, my values, my motivation, Bitcoin is incredible. Throw everything else aside, all the vast twists and turns, it comes down to the data.
Never in my career or advocacy has anything had a 'clean' database, there is so much noise, massive GIGO (Garbage In, Garbage Out), I was so pissed off at my last employer (insurance) of 20 years (10 as a consultant and 10 as dreaded FTE) when I figured out, they really didn't care about the data quality I was complaining about. Thinking they would get a Chief Data Officer as they dangled it for years.
In reality, the C-suite didn't give a shit, they would tell us the ROI wasn't there to combine the legacy systems so the plan was to leave all those policy holders out there until they died off. It was very difficult to merge that data into the other systems that sucked too from a data standpoint.
There model was one of severe money manipulation all under the guise of their corporate values to do best for their customers. It was such bullshit, why? Because I did the reporting, showing how much money the 40,000+ non-employee agents were making on commissions, where they could get points and buy up to an airplane. Talk about Ponzi schemes in the companies they ran as they would walk around, all loud, stupid shirts, gold chains, pointing finger guns saying "there he is."
Further, I would do requests for Legal when Class Action lawsuits came around (frequently). The C-suite didn't care about the data, I told them it was questionable, so even with all I did, how could you prove 'Reasonable Doubt' when no one on the planet trusted the internal data let alone serving that dish externally to a Judge and Jury?
But the kicker? The Behind the Scenes data guy listening to the Behind the Scenes C-Suite cheering a verdict of "we only had to pay out $80 million in fines." I know math, when you make Billions, even after giving out Billions, you cheer for losing only a few hundred million.
So, what one thing got me into Bitcoin? THE DATA. The greatest one 'Excel Spreadsheet' of all time. The Ledger. I never imagined there could be a database that is perfect, total data quality, with copies worldwide.
See that Corporate America Zombies who steal others work and pass it off as your own? You can't with Bitcoin. Period. Hahahah..is that why many of you hate Bitcoin because you have no power to manipulate it for your company (or personal) gains?
Incredible.
Thanks Bitcoin. Thanks Saifedean Ammous for this one page (attached) in the 'Bitcoin Standard", so when my third shitty boss in a row tried to screw me over on my bonus, I told him I was done. My 'career' ended, a poster child of someone who pushed the envelope and stomped on the Status Quo every day. It never got me fired but seldom got me promoted. Thus another shoutout to the one page attached.
Do I have enough money to never go back to that Hamster Wheel from Hell? I have no idea. I am three months younger than Saylor and not nearly as wealthy but Bitcoin gives me hope. I have never been happier in my life.
Thanks Bitcoin regardless of if you 'catch on' or not, you are beautiful, from a data standpoint alone.
Note to the Experts:
I debated on using the word 'database', if you look at the complexity of Bitcoin from simply a data standpoint, its rows aren't overly complex, not wide, not deep, it really could be called a 'table.'
Indepth posts on Bitcoin (e.g. Digital Gold, Friction, AI ) found here (I want to move it to a NOSTR blog):
The beauty of the Open Sourced, timeless, Bitcoin Base Layer, the mysteries are eventually solved:
Bitcoin: "Like Time: Scarcity in Base Layer Units and Block Space"
Subhead: "Bitcoin Mining will Prevail even with Higher Transaction Fees"
By BR Bitcoinapolis (I am trying to get to NOSTR based Blog but for now, full post and links here:)
https://bitcoinapolis.blogspot.com/2023/09/bitcoin-like-time-scarcity-in-base.html
September 25, 2023
To me, Bitcoin is Genius Math, it's incredible. But we are missing one massive part to Bitcoin Adoption, the right words. I'd give most Bitcoiners, including me, a big fat D-. It's a 'work in progress' and it was even summed up perfectly by Satoshi himself:
"It's very attractive to the libertarian viewpoint if we can explain it properly.
I'm better with code than with words though."
Satoshi Nakamoto, 11/14/2008
After all the words used, the mantra of all Bitcoiners should come down to this, said by many for years:
"Protect the integrity of the Bitcoin Base Layer over everything else."
One has to understand the basics of the Bitcoin Base Layer and it comes down to one word that cascades down from one Bitcoin all the way to one Sat or one transaction. That word is 'Scarcity.'
Bitcoin Scarcity SUMMARY
Bitcoin is scarce on many levels:
Units - Total whole Bitcoin units. (e.g. 21,000,000 each divisible by 100,000,000 sats)
Blocks (e.g. every ~10 minutes)
Blocksize = Block Weight (e.g. 4MB)
Block Space (e.g. 1.5 - 2.5 MB total per block for financial transactions)
Bitcoin Scarcity DETAIL
1) Scarce Units:
21,000,000 total (We are already at 19 million with up to 3-4 million lost since the beginning and the last BTC will be mined in ~ 2140.
2) Scarce Blocks
Blocks produced every 10 minutes means a total of 900 Bitcoin mined today. That number will be cut in half by around 450 around April 2024. (i.e. Scarcity built in over time.)
3) Scarce Blocksize (aka Block Weight) (every ~10 minutes)
Blocksize/Block Weight is 4MB maximum or 4 Million weight Units per Block (Side tangent Blocksize War to SegWit to LN)
1.5-2.5 megabytes for Bitcoin financial transactions (Ordinals put it to the highest level and Mempool shows we are totally full regardless.)
~27000 Transactions per block
4) Scarce Block Space
Block Space may be scarce and miners are not obligated to fill up all blocks to max Block Weight. You can't go back and add more transactions to previous blocks with unused block space.
The very best podcast I have ever heard on explaining all this is from Natalie Brunell with Bob Burnett September 14, 2023. Natalie even has it broken out where they talk about all this and Links are provided.
I have been so pro Natalie since day one. She deserves a ton more respect.
Rest here: https://bitcoinapolis.blogspot.com/2023/09/bitcoin-like-time-scarcity-in-base.html
For the record, other than anything financial, if you "hacked" me, my PC, My Macs, my iPhone, SSN, Address, Gmail, Photos, everything you'd die of boredom trying to find something interesting or get scoop on me.
How celebs and others can be so reckless is beyond me. But are all people that important? For the love of God, our selfie, selfish, me....me....me world is bothersome. Go help someone, or something, or some animal, and not share with the fucking world?
(i.e. be a normal human being. Start by saying "hello" to a stranger, with a genuine smile on your face, if you can muster it.)
Altcoiners, read Nano-idiots, at least have more trouble moving from X to NOSTR. The latter requires a brain and some technical ability which is the antithesis of what they believe in and are fighting for with their shitcoinery.
Smoke and Mirrors on X is great
Smoke and Mirrors on NOSTR is exposed
Yeah, Snowden was DMing me and I thought it was cool (with a massive grain of salt) then I compared NPUBs, bastard bots, scammers/scummers on every platform.
Bitcoin: "All World Banks Do Not Care About You"
By BR (NOSTR only original Content)
Topic: RANT
My trigger today, I allow it, I choose to react, was this full page Ad in my Minneapolis Star Tribune newspaper. It shows how employee, Kitty L. exclaims:
"I'm proud the Bank of America is ALWAYS doing what's right for our
clients."- Kitty L. Financial Solutions Advisor, Las Vegas, Nevada (No local employee could give you this copy?)
This is bullshit. Total bullshit and here is why. In my 35 years of playing the game horribly in Corporate America, I have worked side by side with 1000s of Kitty Ls and Mike Ds. These people shill or toe the company line and are always rewarded. The people who challenge the status quo are seldom rewarded but also seldom punished, since these people are usually your best employees.
Bank of America doesn't give a shit about "you the customer" or "you the employee", it's all about keeping the 'manipulation of money' alive and well for them. Them defined as the VPs on up, stock options, C-suite, finger gun pointing empty heads who only manage up one layer to keep the grift alive for them.
Yes, we all have bills, mortgages, but it is dishonest, Kitty, to say what you are saying. If you are even real or even said it. Kitty? I'd use a nickname too. Why does Bank of America take out full page ads? Why did US Bank spend millions to name our local billion dollar football stadium that apparently is a giant ship?
If you really care, and were an honest employee - let alone honest company - you'd speak out, "why do we spend so much on Advertising, 100s of millions, instead of giving back to our cherished customers with their deposits in the form of interest or incentive. You don't even have their deposits as you have hedged or loaned it out essentially printing money. But you are in good company following our Debt Addicted government. When will people challenge the Status Quo of our Financial lives?
You know, banks, my Savings account, my asset, is your liability and you know my load, my liability is your a$$et.
You don't care about the 'client/customer/guest', unless they are fully indebted to you.
If any of this resonates, it's a virus in most companies, this is why I Bitcoin.
Bitcoin can't be manipulated by any person, company, country, ad campaign or douche bag saying "There he is (pointing finger guns), we should do lunch."
Good God, be honest, for once, study Bitcoin.
I'm not paying one cent for X but paying many micro-cents for NOSTR. This product will eventually be clear, Social Media for the people run on top of MOIP (Money Over IP) for the people. https://www.businessinsider.com/elon-musk-x-twitter-paywall-for-everyone-2023-9
Coldcard FTW!
If not tech savvy, nostr:npub1jg552aulj07skd6e7y2hu0vl5g8nl5jvfw8jhn6jpjk0vjd0waksvl6n8n jade.
"If not tech savvy", that made me laugh, Cold Storage regardless of device doesn't have to be difficult. But to say Jade is for the non technical is funny. nostr:npub1qg8j6gdwpxlntlxlkew7eu283wzx7hmj32esch42hntdpqdgrslqv024kw is more technical than 99% of the Bitcoiners on here and put out an incredible product. (Not enough for me to wear around my neck but I understand how completely secure it is once it has been used ONCE to get onto the Bitcoin Base Layer.)
She's here. I am a Jade guy but Natalie is just so dang amazing of a human being, then you add Bitcoin? npub1ahxjq4v0zlvexf7cg8j9stumqp3nrtzqzzqxa7szpmcdgqrcumdq0h5ech
The camera is only one step above EZ Bake Oven but it works enough to get things into cold storage. (I do not except many to get the EZ Bake Oven reference.)
Bitcoiners who 'do not stay in their lane' can start to sound like Peter. Don't be like Peter. https://www.yahoo.com/finance/news/famed-investor-peter-schiff-just-120000071.html
$60 for peace of mind, for HODLing forever, on the Bitcoin Base Layer, I have paid $1000s to Wells Fargo/US Bank for shitty service. I just built my own bank, with a better Safe Deposit Box, building, digital guards, vault than they have for $60?
Jade is my favorite, it should be cheap, nothing fancy, and it is built by a Bitcoin genius (Adam Back) versus some marketing guy pointing finger guns at you. I just got my buddy onto Jade, he's 75. He understands, the BlueTooth is dropping on it, annoying but I am telling him it's the cheapest and cold storage is sort of a one and done forget it. Further, I had to do a 'factory reset' at one point, with the 12 words to 'recover' it. SO EASY. I love it. No frills.
Totally get it, both ways, just citing my sources, I am working on a project right now of 'Satoshi's words' (no not for a another book or podcast.) Just for my own belief which is words spoken since 2008 are actually more important than the words now and going forward. It's been damn near perfect at birth as millions since are 'framing' their own belief's after it. The biggest is the MIT guy's super thesis which is now somehow banned. Zzzzzzz
Never mind, here is the answer: https://x.com/healthsupreme/status/1482710898749816833?s=20
Does anyone know if Sepp is still a Bitcoiner? Great questions to Satoshi over 14 years ago.
