On anyone-can-spend Pay-to-Taproot outputs before activation • Hacker News Board

Re: On anyone-can-spend Pay-to-Taproot outputs before activation

#61

Post by guiomie » Fri, Jul 23, 2021, 10:00 PM UTC

arcticbull wrote: post #14

guiomie wrote: post #12

Earlier quoted context omitted.

I'm not sure to follow "15000% annualized inflation in a one-month period"... Could you expand?

A ~50% drop in purchasing power over a one-month period (from 65K to 29K) is an annualized inflation rate of ~15000%.

Im still confused. Isnt this deceptive a little bit? Isnt a 50% drop in a month, only a 50% drop in a month. Which I agree has happened to BTC a few times. But what is the point to extrapolate to a year? Bitcoin has never dropped 50% consistently every month for a year.

Re: On anyone-can-spend Pay-to-Taproot outputs before activation

#62

Post by murrayn » Fri, Jul 23, 2021, 10:59 PM UTC

hanniabu wrote: post #49

vmception wrote: post #13

Earlier quoted context omitted.

This Pay-to-Taproot output spendable by anyone is a decent example. Most multisignature behaviors still aren't exposed, its kind of weird. But looking for to taproot making multisignature addresses indistinguishable from other addresses. There's the general empty space that people shove all sorts of things into. From plain text metadata to encoded messages to derivatives trades.

From my experience that see it as a technical superiority thing. Where if you want to use that functionality you'd be smart enough to know how to use the cli and if you can't then you probably shouldn't be using it. And then are typically met with hostile attitudes saying that if you're that much of a noob and need a GUI then just go use a lite client or something. The white bitcoin core community is very ostracizing…

> The white bitcoin core community

The what now?

Re: On anyone-can-spend Pay-to-Taproot outputs before activation

#63

Post by nikolay » Sat, Jul 24, 2021, 11:20 AM UTC

Yeah, spend it before it drops down to $0 when all governments recognize the threat of this Ponzi to the consumers and to the environment! Bitcoin will never be green - only green in the color of the US dollar as everybody holding BTC cares how much his fake money is worth in greenbacks!

Re: On anyone-can-spend Pay-to-Taproot outputs before activation

#64

Post by hanniabu » Sun, Jul 25, 2021, 4:39 AM UTC

murrayn wrote: post #62

hanniabu wrote: post #49

Earlier quoted context omitted.

From my experience that see it as a technical superiority thing. Where if you want to use that functionality you'd be smart enough to know how to use the cli and if you can't then you probably shouldn't be using it. And then are typically met with hostile attitudes saying that if you're that much of a noob and need a GUI then just go use a lite client or something. The white bitcoin core community is very ostracizing…

> The white bitcoin core community The what now?

Whole*, autocorrect typo

Re: On anyone-can-spend Pay-to-Taproot outputs before activation

#65

Post by thebean11 » Sun, Jul 25, 2021, 9:05 PM UTC

wmf wrote: post #26

thebean11 wrote: post #17

Earlier quoted context omitted.

> While that's being socialized across block reward for now, when that ends, it will have to be born directly by customers That's true, total transaction revenue will need to go up. That doesn't mean per-transaction revenue needs to go up though. Put another way, transaction volume needs to scale before inflation gets too low.

transaction volume needs to scale before inflation gets too low Good thing they decided to never scale transaction volume.

That's simply not true. They are ultra conservative with block size. That doesn't mean transaction volume won't scale. It doesn't even mean block size won't go up.