Equanimnity

Go outside and touch grass folks. Or snow as it may be.

👋🖐

Do you keep worrying because you think that you'll come up with a solution if your brain is consumed withe the problem?

Wow such insight.

Worrying doesn't help. Stop.

Hope you have a grounded crowd lol

Rich Bledsoe's "The Fall of the Angels" is an interesting exploration. Haven't read, but heard it reccomended and skimmed. Seems solid.

doing cool stuff

I see what you did there

Guess solar mining isn't worth it :(

Hypothetically of course

#asknostr #askstr

If I merge all my wallets

Buy Convert BTC to XMR

Reconvert to BTC

Does that solve my anonymity problem?

Got into this whole thing a little naïve..KYC and such🤦‍♂️

I thought it was staying anon 🙃

Hmmmm ChatGPT o1 (the Philosopher) has a different (long-winded) opinion "It would take approximately 36 to 61 years to process 8 billion transactions, depending on network capacity assumptions.":

To estimate how long it would take for approximately 8 billion people to each open a Lightning Network channel on the Bitcoin network, we need to consider the capacity and limitations of the Bitcoin blockchain in processing transactions.

Understanding Bitcoin's Transaction Capacity

Block Time: The Bitcoin network generates a new block approximately every 10 minutes.

Transactions per Block: Each block has a limited size (approximately 1MB, but effectively up to 4MB with SegWit due to block weight), which translates to a capacity of roughly 1,500 to 3,000 transactions per block, depending on transaction size and optimization.

For our calculations, we'll use an average of 2,500 transactions per block.

Blocks per Day: There are 144 blocks per day.

[

\text{Blocks per Day} = \frac{24 \text{ hours} \times 60 \text{ minutes}}{10 \text{ minutes per block}} = 144 \text{ blocks}

]

Transactions per Day:

[

\text{Transactions per Day} = \text{Transactions per Block} \times \text{Blocks per Day} = 2,500 \times 144 = 360,000 \text{ transactions}

]

Calculating the Time Required

Total Transactions Needed:

To open a Lightning Network channel, each user must broadcast an on-chain Bitcoin transaction.

Therefore, 8 billion transactions are needed for 8 billion people.

Time to Process 8 Billion Transactions:

[

\text{Time (in days)} = \frac{\text{Total Transactions}}{\text{Transactions per Day}} = \frac{8,000,000,000}{360,000} \approx 22,222 \text{ days}

]

[

\text{Time (in years)} = \frac{\text{Time in Days}}{365} \approx \frac{22,222}{365} \approx 60.9 \text{ years}

]

Alternate Calculation with Maximum Capacity

If we consider a higher estimate for the network's capacity:

Maximum Transactions per Second (tps): Bitcoin's maximum throughput is often cited as around 7 transactions per second.

Transactions per Day Using tps:

[

\text{Transactions per Day} = 7 \text{ tps} \times 60 \text{ seconds} \times 60 \text{ minutes} \times 24 \text{ hours} = 604,800 \text{ transactions}

]

Time to Process 8 Billion Transactions:

[

\text{Time (in days)} = \frac{8,000,000,000}{604,800} \approx 13,223 \text{ days}

]

[

\text{Time (in years)} = \frac{13,223}{365} \approx 36.2 \text{ years}

]

Key Considerations

Exclusive Use: These calculations assume that all Bitcoin network capacity is dedicated solely to opening Lightning Network channels, with no other transactions occurring. In reality, regular Bitcoin transactions, mining operations, and other activities share this capacity.

Transaction Optimization:

Batching and Aggregation: Techniques like batching multiple channel openings into a single transaction or using multi-signature arrangements can reduce the number of transactions needed.

Channel Factories: These allow multiple users to open channels collectively, reducing on-chain transactions.

Scalability Solutions:

SegWit (Segregated Witness): Increases block capacity and reduces transaction size.

Second-Layer Protocols: Advances in protocols may further alleviate on-chain congestion.

Future Network Upgrades: Innovations like Taproot and ongoing development efforts aim to improve efficiency, which could impact these estimates.

Conclusion

Under current network conditions and assuming each person individually opens a Lightning Network channel:

It would take approximately 36 to 61 years to process 8 billion transactions, depending on network capacity assumptions.

This timeframe highlights the scalability challenges of the Bitcoin network in accommodating global adoption for on-chain transactions.

Implications

Necessity for Scalability Solutions: To support mass adoption, it’s crucial to implement and enhance scalability solutions like:

Lightning Network enhancements to allow multiple channels to be opened with fewer on-chain transactions.

Advanced technologies that enable off-chain transactions, reducing the burden on the main blockchain.

Efficient Use of Resources: Encouraging practices like transaction batching and utilizing payment channels effectively can optimize network usage.

Real-World Feasibility

In practice, not every individual would need to open their own Lightning channel immediately. Users can transact over the Lightning Network without directly opening a channel to every other user.

Hub-and-Spoke Model: The Lightning Network uses nodes connected through channels, allowing users to route payments through interconnected channels.

Shared Channels: Businesses and service providers can open channels that serve many users, reducing the need for individual on-chain transactions.

Final Thoughts

While the raw calculations suggest it would take decades for everyone on Earth to open a Lightning Network channel individually, the practical implementation of the Lightning Network and ongoing advancements are designed to make instantaneous, low-fee transactions accessible to a global user base without overwhelming the Bitcoin blockchain.

tokens used: 4091, model: o1-preview-2024-09-12

So I edited my profile on another client...and my About Me was nuked on Amethyst🤦‍♂️

Any O4+ feel free to correct, but Major is right about where politics cross into >50% of the job at least Army side. Not particularly impressed by that tidbit.

But also on my shortlist wishing you well ha ha

M onero 🤪

I think they'd point you to the fine print "working for". Warburg and Schiff were Jews. Zionism as a thing called Zionism started 1896/7 but the concept of a Jewish return to Zion predates England. See: American history before 1865, the Talmud.

Metaphors do not need to be announced. Like parables, they reveal the ignorant.

Gebrauchtshühnerfutter 😋😋

But they're not done with you 👀

Also zap folks who interact with your non-btc material 😉

Tabletalk had a great issue on the virtues half a decade or so ago.