Super interesting and informative, I learned lots that I didn't already know. Who are the cryptominers on the testnet btw?
A from-scratch tour of Bitcoin in Python
181–190 of 293 posts
Re: A from-scratch tour of Bitcoin in Python
#182"...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.
segwit facilitates the construction of lightning channels. taproot, which recently locked in, reduces the space needed to represent complex contracts. moreover, bitcoin aims at being a concise and focused base layer on top of which secondary layers and sidechains can be built. your absolute statement "exactly zero" is absolutely wrong.
> taproot, which recently locked in, reduces the space needed to represent complex contracts.
Complex contracts? Are you joking? What kind of complex contracts do you think can be done on BTC? Their scripting language and capabilities has been neutered just like their blocksize. Good luck writing a useful contract on BTC.
Re: A from-scratch tour of Bitcoin in Python
#183Earlier quoted context omitted.
There was a demo of node software that is capable of 50,000 transactions per second just a few weeks ago. https://www.youtube.com/watch?v=i3As9-9uSXs (Yes this is on the Bitcoin SV implementation of the Bitcoin protocol - where they're using the original protocol that Satoshi envisioned)
From what I understand, that's 50,000 pre-generated transactions pumped directly to the mining node. Not 50,000 transactions spread across hundreds of non-mining nodes and relayed to the mining node. There's a huge difference. Correct me if I'm wrong here. Either way, bitcoin the protocol can handle waaaaaay more transactions than the BTC devs have constrained it to.
Yes, more-or-less, but that how it is designed to work. The most reliable way to get a transaction into a block is to send it directly to a miner or set of miners. Apps on BSV do this today via MAPI REST endpoints, similar to how this test was configured. Non-mining nodes will see the transactions later, but they won't do the same verification that mining nodes require because they are not part of consensus. BSV generally sees the eventual network configuration as a small-world network for the mining core, and a mandala network for the apps and services surrounding it, rather than as a mesh network which most blockchain systems strive to be.
Re: A from-scratch tour of Bitcoin in Python
#184Earlier quoted context omitted.
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.
FBA is centralized. Period. There’s a reason ripple hasn’t dominated the secure payments industry.
faceplam FBA is a technology its not a thing or a running system. It can not be centralized its just bunch of math that BTW is mathematically proven to work. There are many FBA based "blockchains" out there some centralized some not. Ripple is a company that uses such a FBA system.
Re: A from-scratch tour of Bitcoin in Python
#185Earlier quoted context omitted.
You completely ignore my points so I will yours Have a nice day
Which point specifically? You claim centralized manipulation of bitcoin and fraudulent people while the protocol hasn't changed. Do you have legal evidence? Also you claim price speculation as the only use case while I've listed several apps with real users. You mention storage abuse and I argue that miner fees prevent that.
You can stop now dear green name we all can see you only joined to shill ButtcoinShitVison
No one here cares.
Re: A from-scratch tour of Bitcoin in Python
#186Earlier quoted context omitted.
> There is exactly zero progress to make it scale in the last 10+ years. Lol, literally this week: https://taproot.watch/
Oh good, BTC can finally support Schnorr signatures, a feature that been available on BCH for years now. A feature that is useless until wallet developers add Schnorr signing functionality. Taproot is the update we get after ten years of the BTC devs doing nothing except gaslighting users about the protocol's scalability? All that momentum wasted.
> Schnorr signatures, a feature that been available on BCH for years now.
Not in a useful way: https://www.reddit.com/r/btc/comments/l8v8sa/heres_a_6of9_sc...
Re: A from-scratch tour of Bitcoin in Python
#187Earlier quoted context omitted.
To expand on this, to receive money over Lightning, you need someone else to lock up their bitcoins for you. This is called inbound liquidity, and the problem of users getting inbound liquidity is no joke. Lightning Labs recently launched Lightning Pool to help with this, but fees range from 5% to 25%. Uncompetitive. If you think about it too, it makes sense, because anyone locking up their bitcoins for others should…
The looking up of liquidity is the whole reason LN can not scale or be cheap ever. Today people in crypto may be willing to look up bitcoins they hold long term anyway. But in the real world this would be dead and trapped capital it doesn't work for you and you cant even use it to quickly buy something an take advantage of a market situation. The only reason why someone would look up capital like that if is it makes…
If I decide I want to be long BTC, why not also lock it up to earn fees?
Re: A from-scratch tour of Bitcoin in Python
#188Does this blog entry hang Brave on Android for anyone else? Happens on two phones for me.
Hangs Chrome for Android completely too.
Re: A from-scratch tour of Bitcoin in Python
#189Earlier 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.
> Daily reminder that cryptocurrencies are not == bitcoin
This is an interesting feature of cryptocurrencies. Someone levels a fair criticism of a particular implementation but it can be handwaved away because an entirely separate cryptocurrency solved this particular problem (nevermind that whatever replacement you’ve chosen has its own host of separate problems because those can be handwaved away the same way).
Re: A from-scratch tour of Bitcoin in Python
#190"...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.
So-called heretics have been scaling Bitcoin in spite of BTC's braindead decisions. Last week, 50K TPS were demonstrated publicly on Bitcoin SV: https://www.youtube.com/watch?v=i3As9-9uSXs . More privately.
That's just a lab demo of a single system, not the network or even a common node configuration.