Earlier quoted context omitted.
FSD rollout has been delayed many times. He's underperforming.
He's almost certainly a 100x engineer.
Has he saved 100x lives with FSD?
A from-scratch tour of Bitcoin in Python
121–130 of 293 posts
Re: A from-scratch tour of Bitcoin in Python
#122Earlier quoted context omitted.
Everyone knows faketoshi is a fraud.
Above is proof that the original bitcoin protocol can scale, and recently testnet can do 90k tps. What you think of certain people doesn't change the fact.
Its centralized and run by the people around this fraud. It doesn't matter if the tech is good since no one will use it for anything beside speculation or abuse it as storage which just wont be sustainable in the long run with no limits in place.
Re: A from-scratch tour of Bitcoin in Python
#123Earlier quoted context omitted.
Lightning doesn't work because it either leads to a chaos of routing that doesn't scale or it ends up centralized and you lose the point of bitcoin in the first step. And don't bother coming up with hand wavy explanations of how it could work, some day . People have been talking about Lightning for years, literally billions of dollars have been poured into the "tech", the fact that even bitcoin enthusiasts barely eve…
Daily reminder that cryptocurrencies are not == bitcoin All the problems with bitcoin are long long solved just not with bitcoin because its not possible to fix something when the majority (of hashpower) thinks its not broken or rather profit form its brokenness. FBA coins exists since 2013 or so.
Would you include environmental impact as a solved problem? My understanding is that Proof of Stake is the best serious option and that it's very controversial if it'll work.
Re: A from-scratch tour of Bitcoin in Python
#124Kind of surprised Andrej has time to work on anything besides self-driving cars
Nobody can work 100% of the time, everyone needs breaks. But some engineers take breaks from their regular work by doing other "work". I find it bizarre that there are so many comments making this out to be some kind of dire situation where he's working on other things because Tesla is sinking or something. Is working on hobby projects as a way to relax really that uncommon?
For reference, I started a small Bitcoin mining hardware business back in the day, while still holding a 200/hr week/8 days a week/400 days a year full-time job. Working on Bitcoin stuff was my "break" from regular work.
Re: A from-scratch tour of Bitcoin in Python
#125Earlier quoted context omitted.
Using a closed, centralized implementation that doesn't accept third party nodes. The use of bitcoin is pure marketing, it's just MySQL with extra steps.
This is interesting. Obviously, I heard about the whole "El Salvador something something Bitcoin" deal, but am completely unaware of the actual situation. Can somebody point me in the direction of some nice writeup explaining these details? I can only vaguely imagine how one can take Bitcoin and make it essentially an extension of SWIFT, and struggle to clearly visualize what the implications of this are.
The legislation that made Bitcoin legal tender in El Salvador does not legislate the use of Strike. Businesses can use whatever system they want, as long as they can accept payment in Bitcoin. Strike is providing a service that allows any business to take Bitcoin lightning payments and have them automatically converted to dollars, for businesses that do not want to hold Bitcoin. It's not fair to just call this a "sql database" because it's connected to an open payment network and the customer can use whatever means they want to pay the business, even if the business decides to just uses Strike.
Re: A from-scratch tour of Bitcoin in Python
#126"...Bitcoin is a living, breathing, developing code base that is moving forward with new features to continue to scale..." There is exactly zero progress to make it scale in the last 10+ years.
> There is exactly zero progress to make it scale in the last 10+ years. Lol, literally this week: https://taproot.watch/
Bitcoin doesn't scale.
https://digiconomist.net/bitcoin-energy-consumption
Just watch this video:
https://www.youtube.com/watch?v=UDKntG4F0hg
So in about 5 years pretend everyone in the United States melts a wrench like that... Then a month later they do that twice, a month later they do it three times.
Hey, at least it will be fun.
Re: A from-scratch tour of Bitcoin in Python
#127Re: A from-scratch tour of Bitcoin in Python
#128Bitcoin is taking up all the water
Re: A from-scratch tour of Bitcoin in Python
#129Earlier quoted context omitted.
> There is exactly zero progress to make it scale in the last 10+ years. Lol, literally this week: https://taproot.watch/
Segwit was also supposed to scale Bitcoin, and it turns out it was a massively inefficient solution, which took years to even reach it's lackluster potential. Taproot will in practice have an even smaller impact, as it only affects special transactions that normal people won't use. So yeah, it's not zero progress, but it's certainly not much.
Segwit itself provided an effective 2x increase in onchain transaction capacity and it fixed transaction malleability which was necessary for lightning network. Lightning network has 50,000+ open channels where payments can be routed without going onchain. Given the lightning network’s strict requirements to keep a node online & responsive, less you lose all your funds, I think that’s extremely impressive and shows a real demand for fast cheap payments.
Now, in November taproot/schnor activates which gives us ptlc’s on the lightning network as well as makes a lightning channel opening transaction look like a normal single signature transaction, yay privacy. All of this lays the groundwork for the next major base layer change, in probably ~2023, anyprevout. This will give us “eltoo” on lightning which is nirvana. Eltoo removes the penalty mechanism which makes running a lightning node on a mobile phone or home node much more reasonable.
Protocols take a long time to develop, especially ones where a miss-step could mean the loss of billions of dollars.
Do not believe anyone telling you that their coin solved bitcoin’s scaling problems years ago.
Re: A from-scratch tour of Bitcoin in Python
#130In Step 1, he explains how to create a cryptographic identity- the private public key pair.
I came across an argument that a number cannot be property or owned because you can't legally own a number.
If this is true then you can't own UTXOs associated with a private key or a cryptographic identity.
I do think that bitcoin is fundamentally too complicated to understand, mathematically, for most people- myself included. I would argue everyone needs to do this exercise, from scratch, and also understand what they are doing (the math), to have confidence in bitcoin payment network. Anyone who thinks you don't need to get it is most likely in it for speculation alone.
With something so abstract like bitcoin, it has a much larger uphill battle for understanding than a physical commodity like Gold, the precursor of paper dollars.