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  • #161
  • May 16, 2021 4:39pm May 16, 2021 4:39pm
Quoting Goat
Craig Wright loves this tweet. Perhaps the first popular tweet he ever loved. {image}
It sounds like Craig has been whispering in Elon's ear.
  • #162
  • May 16, 2021 10:41pm May 16, 2021 10:41pm
Quoting JackJones
{quote} its behind a paywall , but youre a smart guy, youll find it they are blaming his personality on ASD {image}
Thank you Jack! I'll get to looking for it later this week.
  • #163
  • May 16, 2021 10:45pm May 16, 2021 10:45pm
Quoting Rinzler
{quote} It sounds like Craig has been whispering in Elon's ear.
Hodlers HATE when you call BTC "centralized". One of CW's tenents is that Bitcoin mining is not decentralized, and that was indirectly the basis for the BCH fork and the BSV fork (ie big block vs small block).

That tells me Elon is in for a shit storm. Could almost feel bad for him.

I have to give Elon props though. Once he studied up (this weekend) he quickly figured out that small-block crypto is fundamentally flawed, and not what Satoshi intended. I guess I shouldn't be surprised by Elon's impressive nose for bullshit.

This is definitely good for BSV.
  • #164
  • May 17, 2021 8:58am May 17, 2021 8:58am
Quoting Rinzler
BSV is unstoppable when it comes to carbon-friendly blockchain protocols [1].
Do you know if it's fair to compare the SHA-256 hashrate of BTC to BSV?

I've been trying to find the answer to this question over the past few days, but I honestly don't know enough about Bitcoin to answer the question. From what I've read, it's only the Merkle root that used when generating the transaction hash.

"The body of the block contains the transactions. These are hashed only indirectly through the Merkle root. Because transactions aren't hashed directly, hashing a block with 1 transaction takes exactly the same amount of effort as hashing a block with 10,000 transactions." [1]

However, calculating that Merkle root has got to be more intensive for 100,000 transactions than just 10 transactions.

My theory is that it's not entirely fair to compare the hashrate of BTC to BSV. However, I admit I don't know enough on the subject to say that with confidence.

[1] https://en.bitcoin.it/wiki/Block_hashing_algorithm
  • #165
  • May 19, 2021 10:47am May 19, 2021 10:47am
If you missed BSV in the 100's, today is your day!!!
  • #166
  • May 19, 2021 3:27pm May 19, 2021 3:27pm
Quoting cryptocow
{quote} Do you know if it's fair to compare the SHA-256 hashrate of BTC to BSV?
Dunno where you came from Rinzler but you're the first member I've seen Mr. Cow ask a question of.

From the econ side, you and I have a different vocabulary but I prefer the way you paint it.
  • #167
  • May 19, 2021 10:57pm May 19, 2021 10:57pm
Quoting cryptocow
{quote} Do you know if it's fair to compare the SHA-256 hashrate of BTC to BSV?
Yes, it's a fair comparison. I'll explain…

Briefly on the technicals:

  1. Double SHA-256 is compatible with merged mining techniques.
  2. Previous Block Hash = SHA-256(SHA-256(Block Header))
  3. Pools use an abstraction layer between them and the hash producers (pre-merkle assembly.)
  4. If the pool doesn't find a block, the pool still pays an estimated rate per valid hash to producers.
  5. Theoretical Average Daily Settlement Earnings * (1 + Transaction Fee Rate) * (1 - Mining Pool Fee Rate) = FPPS

Quoting cryptocow
{quote} However, calculating that Merkle root has got to be more intensive for 100,000 transactions than just 10 transactions.
Merkle calculations are all done on the pool's node server, not the hashing hardware. Pools transmit micro-jobs to hashing hardware. Hash hardware submits shares of proofs to the pool. Pool pieces valid proofs together to build and relay blocks to other mining nodes.

Pools offer hash producers the best price execution via profit switching chains. These 'smart switching' solutions give the pool a market edge while retaining the authority to choose the most profitable chain. A single farm operating SHA-256d ASIC hardware could be mining three different bitcoin blockchains intentionally or unintentionally. End-users and their ASICs never know which chain their pool is mining. The user only cares about the quantity of BTC earned compared to other pools. So at any given time, global bitcoin pools can move hashpower to a single chain if the profitability algo is triggered.

There will be a day when the BSV profit ratio exceeds BTC. Miners will have to make a choice, stay profitable or mine at a loss.

Quoting Goat
{quote} Dunno where you came from Rinzler but you're the first member I've seen Mr. Cow ask a question of. From the econ side, you and I have a different vocabulary but I prefer the way you paint it.
Appreciate it!
  • #168
  • May 20, 2021 7:25am May 20, 2021 7:25am
Quoting Rinzler
{quote} Yes, it's a fair comparison.
Thank you for the info. It looks like a got a lot of reading to do.
  • #169
  • Edited 8:10am May 21, 2021 7:58am | Edited 8:10am
"We are committed at the Federal Reserve to hearing a wide range of voices on this important issue before making any decision on whether and how to move forward with the U.S. CBDC, taking account the broader risks and opportunities it could offer," Powell said in a statement. "We expect to play a leading role in developing international standards for CBDCs."

"providing a safe and efficient payment system while embracing innovation"

?!

Inserted Video


"because we used the telegraphs!"

it comes out after yet another big crypto swing.. don't worry everyone, the fed is here to help

CBDCs are going mainstream!

looking forward to see how they plan to kill all non-CBDCs
grist for the mill
  • #170
  • May 25, 2021 12:03am May 25, 2021 12:03am
I'm getting greedy broz. Increasing my BSV position by 50% over the next couple weeks, as long as it holds below $200. Leggo!!!
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  • #171
  • May 25, 2021 12:07am May 25, 2021 12:07am
Quoting Rinzler
There will be a day when the BSV profit ratio exceeds BTC.
You have a BSV position Rinzler?? Do tell!
  • #172
  • May 29, 2021 1:36pm May 29, 2021 1:36pm
Good evening all!

I just had to report back to ask @GOAT his valuable opinion regarding this post of Cryptomedication/Librehash: https://t.me/librehash/28356

What’s your point of view/opinion on the role Dave Kleiman and Hal Finney played besides Craig Wright in the creation of Bitcoin? Please enlighten me with your insights

Thanks in advance and cheers!

ps; I’m suddenly busy building a colony and my time is still limited, but I didn’t forget the Tesla=BSV craft and will report back for this
  • #173
  • May 31, 2021 1:44am May 31, 2021 1:44am
Quoting ART85
Good evening all! I just had to report back to ask @GOAT his valuable opinion regarding this post of Cryptomedication/Librehash: https://t.me/librehash/28356 What’s your point of view/opinion on the role Dave Kleiman and Hal Finney played besides Craig Wright in the creation of Bitcoin? Please enlighten me with your insights Thanks in advance and cheers! ps; I’m suddenly busy building a colony and my time is still limited, but I didn’t forget the Tesla=BSV craft and will report back for this
That link is not working for me. Can you post a screenshot?

As for Kleiman, I know he and CW go way back as cryptography colleagues and good friends. There's a video of CW crying when Dave died of MS. Hal Finney was another of CW's cryptography broz but I don't know much more. I gather that both Dave and Hal helped Craig create bitcoin in the colleague capacity, eg bouncing ideas, beta testing projects, etc.
  • #174
  • May 31, 2021 6:09pm May 31, 2021 6:09pm
Quoting Goat
{quote} That link is not working for me. Can you post a screenshot? As for Kleiman, I know he and CW go way back as cryptography colleagues and good friends. There's a video of CW crying when Dave died of MS. Hal Finney was another of CW's cryptography broz but I don't know much more. I gather that both Dave and Hal helped Craig create bitcoin in the colleague capacity, eg bouncing ideas, beta testing projects, etc.
There are two posts which can be found in attached (three) images. The link in the first post from Gizmodo isn’t working (404).

I’m surprised by the clear statement made in the second post (“although it’s clear he (CW) is not Satoshi Nakamoto”). Librehash channel is really nice to follow and they publish news which other crypto-outlets fails/forget to mention. This statement therefor really suprises me.

Thanks for sharing your information on this subject! I do have the same thoughts as you, that both gentlemen helped CW like you describe. Have you found any information directly from CW regarding the precise role of those two? I haven’t found any detailed info regarding this subject yet.

The video about CW crying is sad to see... It makes me even more angry why people are fully against CW and can’t see the bigger picture. Shouldn’t they be thankful we received blockchain because of him? Perhaps I smoked too much and see CW as sort of ‘human-mini-God’ for creating all this for the next generations...

I’m glad I can report to this forum for some CW love when I need it
  • #175
  • May 31, 2021 6:10pm May 31, 2021 6:10pm
Quoting ART85
{quote} There are two posts which can be found in attached (three) images. The link in the first post from Gizmodo isn’t working (404). I’m surprised by the clear statement made in the second post (“although it’s clear he (CW) is not Satoshi Nakamoto”). Librehash channel is really nice to follow and they publish news which other crypto-outlets fails/forget to mention. This statement therefor really suprises me. Thanks for sharing your information on this subject! I do have the same thoughts as you, that both gentlemen helped CW like you describe....
Forgot to insert the images...

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  • #176
  • Jun 1, 2021 8:28am Jun 1, 2021 8:28am
Quoting Rinzler
{quote} Yes, it's a fair comparison. I'll explain…
OK I think that makes sense. Basically mining BTC and BSV is, as far as the average miner as part of a pool is concerned, exactly the same.

However, I still feel like the pool's node server has got to be consuming more power mining BSV than BTC. Especially if BSV is really processing a lot of transactions. I would surmise, however, that the increased power usage is negligible compared to the power usage of the miners.
  • #177
  • Jun 4, 2021 1:21am Jun 4, 2021 1:21am
Quoting Goat
I'm getting greedy broz. Increasing my BSV position by 50% over the next couple weeks, as long as it holds below $200. Leggo!!! {image}
I'm still in the process of begging Bittrex to re-enable my account. I'm ashamed of my bichass groveling, but they're the only somewhat-reasonable BSV source in the US.

It's rough goings when you're this early, I'll tell you what.
  • #178
  • Edited 10:54am Jun 4, 2021 1:38am | Edited 10:54am
Quoting ART85
{quote} There are two posts which can be found in attached (three) images. The link in the first post from Gizmodo isn’t working (404).
Sounds like speculation to me. The author is imagining a scenario where CW was there for Bitcoin's creation, but he's not actually Satoshi.

That theory doesn't hold water imo. Here's why...

Craig Wright has claimed Bitcoin as his invention. If that's a lie then he's a total fraud. That gives us an operative question: "Is Craig Wright a total fraud?"

To that question I say: When in history have we had a certified academic genius who is simultaneously a total fraud? I can't cite a single case.

My supporting argument: When in history has there been a con man with horrible social skills?

Quoting ART85
It makes me even more angry why people are fully against CW and can’t see the bigger picture. Shouldn’t they be thankful we received blockchain because of him? Perhaps I smoked too much and see CW as sort of ‘human-mini-God’ for creating all this for the next generations...
Don't feel too bad for CW. The hate doesn't bother him like it bothers normal people. I've been studying psychology these days and one of the biggest eye openers is how much people differ in the amount of emotion they feel. As a general rule, the more logical a person is the less emotion they feel. Logical people also have a difficult time understanding and recognizing other people's emotions.

If we apply that to CW, who's logic is off the charts, we can surmise that the man feels nothing. He could give two shits how people feel about him -- he doesn't even understand what it means to "feel". And that's how you get an extremely smart asshole.
  • #179
  • Edited 5:01pm Jun 5, 2021 3:18pm | Edited 5:01pm
Quoting Goat
{quote} You have a BSV position Rinzler?? Do tell!
Accumulating BSV since 2018, ~33% of my crypto portfolio.
I'm also an investor in a stealth BSV mining company.
  • #180
  • Edited 5:16pm Jun 5, 2021 4:58pm | Edited 5:16pm
Quoting cryptocow
{quote} I would surmise, however, that the increased power usage is negligible compared to the power usage of the miners.
Yes, quite negligible.
BTC, LTC, XMR, and ETH all require the same server resources to validate cryptographic proofs.
Hashing hardware at 80% load consumes 1200W-3250W per hour. Producing $1-$13/day gross.
Pool server hardware consumes up to 1200W per hour. Requiring at minimum two servers for redundancy. bsv system requirements.

The daemons that blockchains use today lack parallel tx validation/block validation which is common practice when optimizing software in tech.
Unlike a PC game using NVIDIA CUDA Cores, the bitcoin protocol is not optimized to efficiently free up cycles when simultaneously processing tx and blocks with CPU.
BSV devs have worked hard over the last three years to change that.

For a signal, to be honest, noise must be costly (Security)
For a channel, to be reliable, it must be clear & frictionless (Productivity)

IMHO, important KPIs for miners and the blockchain industry to focus on is Bitcoin's network GDP.
1. Daily # of validated tx / energy requirement to validate
2. Daily USD tx revenue / total network consumption
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