#Bitcoin #nostr
This proves Ethereum is a scam 💩 coin . If you are new to Bitcoin, you are not late, you can never be late. Learn from mistakes. Just buy as much Bitcoin as you can every day.
Ethereum Foundation Continues Sell-Off as ETH Surges Past $2,500
The Ethereum Foundation adds to its growing ETH sale count.
by Okoya David. Fact checked by: Ciaran Lawler, Editor: Nazar Kuzmyn
Read more on DailyCoin: https://dailycoin.com/ethereum-foundation-continues-sell-off-as-eth-surges-past-2500/
#BitVM 2: Advancing Permissionless Verification on #Bitcoin
#BitVM2 introduces a novel approach to permissionless verification on Bitcoin, addressing limitations of previous designs and improving trust assumptions. The original BitVM was limited to two-party settings, while later versions introduced multi-party configurations but required predefined verifiers. BitVM 2 improves upon these by allowing anyone to act as a verifier during runtime. It requires a one-time setup with a 1-of-n honesty assumption, simplifies the design, and reduces trial length to two rounds.
The verification process aims to verify assertions of the form f(x) = y for complex programs. It uses a balanced approach between on-chain and off-chain computations. The prover commits to input, output, and intermediate results, while verifiers can disprove any faulty assertion. The technical implementation utilizes a Taptree with scripts to disprove computations, reducing worst-case computation to a single step. This approach balances the prover's commitment size and the verifier's script size.
BitVM 2 can serve as a building block for permissionless bridge verification. However, it's worth noting that there's still a potential for fee theft by malicious provers, though deposits remain safe.
BitVM 2: Revolutionizing Permissionless Verification on Bitcoin
In the ever-evolving landscape of blockchain technology, Bitcoin continues to push boundaries with innovative solutions. BitVM 2 represents a groundbreaking advancement in permissionless verification that addresses key limitations of its predecessors while enhancing security and trust models.
The journey to BitVM 2 began with the original BitVM design, which was constrained to two-party settings. Subsequent iterations introduced multi-party configurations, but these still required predefined verifiers and incurred increasing setup costs with each additional verifier. This limitation created a vulnerability: a finite number of parties could potentially be bribed to compromise a contract.
BitVM 2 shatters these constraints with its key innovation: allowing anyone to act as a verifier during runtime, without being part of the initial setup group. This dynamic approach significantly improves the trust model and simplifies the overall design, reducing the maximum trial length to just two rounds.
At its core, BitVM 2 aims to verify complex program assertions efficiently. It employs a balanced approach between on-chain and off-chain computations. The process begins with the prover committing to the input, output, and all intermediate results in a single step. Verifiers can then challenge any part of the computation they believe to be incorrect. A Taptree containing scripts for disproving computations allows for efficient on-chain verification. This method significantly reduces the on-chain footprint while maintaining rigorous verification standards.
The most exciting prospect of BitVM 2 is its potential as a building block for permissionless bridge verification. This could pave the way for more secure and efficient cross-chain interactions, a critical component in the increasingly interconnected world of blockchain ecosystems.
While BitVM 2 represents a significant leap forward, it's not without challenges. The potential for fee theft by malicious provers remains a concern, although the core deposits remain secure. This highlights the ongoing need for vigilance and further refinement in blockchain security models.
BitVM 2 stands as a testament to the continuous innovation in the Bitcoin ecosystem. By addressing key limitations of previous designs and introducing a more flexible, permissionless verification model, it opens up new possibilities for complex computations and cross-chain interactions on the Bitcoin network. As the technology matures, we can expect to see exciting applications that leverage this enhanced verification capability, further solidifying Bitcoin's position at the forefront of blockchain innovation.
Bitcoin is the only cryptocurrency that truly follows the power law. This is a crucial distinction that sets it apart from all other digital assets in the crypto space. While many altcoins, including big names like Ethereum and Solana, claim to exhibit power law characteristics, the data tells a different story.
Bitcoin uniquely adheres to power law distributions across multiple metrics. These include wealth distribution, mining pool concentration, node distribution, and transaction volumes. This consistent pattern isn't mere coincidence – it's a reflection of Bitcoin's genuine decentralization and network effects that cannot be replicated.
Altcoins may promise similar patterns, but closer examination reveals that they often exhibit more centralized structures masked as decentralization. Their distribution patterns and network characteristics simply don't align with true power law dynamics.
Bitcoin's adherence to power laws isn't just a statistical curiosity. It serves as tangible proof of Bitcoin's unparalleled position in the cryptocurrency ecosystem. This mathematical consistency underscores Bitcoin unique properties and reinforces its status as a truly decentralized and robust network.
Understanding this distinction is crucial for anyone looking to grasp the fundamental differences between Bitcoin and other cryptocurrencies. It highlights why Bitcoin continues to stand out in a sea of digital assets, maintaining its position as the premier cryptocurrency.
#Bitcoin #PowerLaw #Cryptocurrency #Decentralization
#Bitcoin is the original digital fire. Like fire, it cannot be recreated – only discovered once. All altcoins are mere attempts to harness this revolutionary flame.
Altcoins may tweak the formula, trying to improve upon Bitcoin's groundbreaking technology. But at their core, they're all using the same fundamental "fire" that Bitcoin ignited in the world of finance and technology.
Just as our ancestors couldn't uninvent fire once discovered, we can't undo the paradigm shift Bitcoin has created. Every cryptocurrency that followed is, in essence, a variation on Bitcoin's original flame.
#Bitcoin #Blockchain
The New Liberty Standard Exchange recorded the first exchange of #Bitcoin for dollars in late 2009. Users on the #BitcoinTalk forum traded 5,050 bitcoins for $5.02 via PayPal, making the first price mediated through an exchange a bargain basement price of $0.00099 per bitcoin.
If #Bitcoin goes from $0.01 to $1.00, it will have increased by a factor of 100. If it continues to grow at the same rate, it will indeed reach the following prices:
$1 (100 times the initial price) $10 (1,000 times the initial price) $100 (10,000 times the initial price) $1,000 (100,000 times the initial price) $10,000 (1,000,000 times the initial price) $100,000 (10,000,000 times the initial price) $1,000,000 (100,000,000 times the initial price)
This pattern of growth, where each subsequent stage is a fixed multiple of the previous one, is an example of exponential growth. In this case, the price increases by a factor of 10 at each stage. #nostr
Newer participants in the world of Bitcoin may not be aware that concepts such as smart contracts, sidechains, Layer 2 solutions, non fungible tokens, tokens, and decentralized autonomous organizations were all originated by Bitcoin OGs in the early part of the 2010s. #Bitcoin #nostr
I have heard people talking about Ethereum overtaking #Bitcoin, but it hasn't happened yet. I believe that a flippening will eventually occur when #Bitcoin surpasses #Gold. This is because Bitcoin is a hard currency, which is the essence of cypherpunk ideology. On the other hand, the term "AI money" is just a phrase used by venture capitalists to scam people. In the end, VC always wins in Ethereum.
Credit cards, mortgages, and property taxes are scams. Debt is a game to enslave you. You want out. Buy #Bitcoin as much as you can everyday. Forget all other blockchains and protocols. You want insurance. You want clarity. You need Bitcoin. #nostr
“I’m not going to be much help right now either, pretty busy with work, and need a break from it after 18 months development,” Satoshi said and further noted that Hal Finney was not actively involved at the time.
@mleku calling me a shitcoin scammer is really rich. I only own #Bitcoin, opposed taproot, fought against the toxic Bitcoin maximalists that pushed it, because I knew the black hole it would create. Now 500 billion of VC money floods into Bitcoin, bizarre spam on the base layer. Truth is this. Toxic Bitcoin maximalist that got taproot only care about making money off the junk lighting products.
500 Billion VC influx of cash coming to Bitcoin, courtesy of of the toxic Bitcoin maximalists that demand taproot. Opened a black hole. Toxic Bitcoin maximalists way to go. And congrats on now turning on Bitcoin Magazine.
@mleku I only own Bitcoin, and I opposed taproot. Toxic Bitcoin maximalists hide under fake photos, weird anonymous names. @nobody decided to call me out. Him calling me a shitcoiner I take personally. So debase stop hiding under weird photo. And debate me.
Hedge fund Pantera says it’s ‘time to seize that moment’ for $500bn #Bitcoin #DeFi opportunity
Toxic Bitcoin maximalists have lost. And the Bitcoiners have won.
We Are All Satoshi except Craig Wright
I am currently going through archives of Bitcoin Magazine articles, but I find their content to be highly biased and Marxist in nature. The articles seem to be promoting propaganda that even Stalin would approve of, and they resort to personal attacks on individuals to cancel them. Moreover, I find the articles to be moronic and lack any factual basis. Interestingly, the writings and emails of Satoshi refute the claims made in these articles. As someone who has been involved in Bitcoin since 2011, I would advise newcomers to avoid reading Bitcoin Magazine as it promotes a Marxist agenda that goes against the spirit of Bitcoin. #Bitcoin #nostr
Bitcoin Magazine is irrelevant and a joke. The direction of Bitcoin's Layer Twos and the developers building on Bitcoin will be determined by the markets. The purity test sounds like wording from the Marxist playbook. #Bitcoin #nostr
It's amazing how Satoshi Nakamoto's posts and emails contradict the false information spread by #Bitcoin Magazine and its acolytes of toxic Bitcoin maximalists.
It's amazing how Satoshi Nakamoto's posts and emails contradict the false information spread by #Bitcoin Magazine and its acolytes of toxic Bitcoin maximalists.
#Satoshi #Bitcoin post about Bitcoin privacy
Re: Repost: Request: Make this anonymous?
2010-02-06 - Link
Bitcoin is still very new and has not been independently analysed. If you're serious about privacy, TOR is an advisable precaution. #nostr #grownostr
I mined block 70-something, and I was the recipient of the first #Bitcoin transaction when Satoshi sent ten coins to me as a test — I carried on an email conversation with #Satoshi over the next few days, mostly me reporting bugs and him fixing them.
~ Hal Finney
Hal Finney was the first person to support and help Satoshi Nakamoto. He also contributed code in 2008 and early 2009, before it was released to the public in January 2009. Hal also went down in history as the receiver of the first Bitcoin transaction, in which Satoshi Nakamoto sent him 10 #BTC. #nostr
#Bitcoin only matters
I used to have a personal emotional attachment to #Ethereum. Their leadership needs to be more knowledgeable and mindful of the fundamental aspects that make blockchains, #cryptography, and #smartcontracts beneficial to a free society. While some may not intend to be malicious, it takes outsiders time to recognize the issues. The evidence is now undeniable that, on the one hand, they claim immutability and censorship resistance, but on the other hand, they attack principles of trust minimization. They also claim to be decentralized, but they are becoming the international banking system's cartel coin. In this elitist coin, only 1 percent can stake it individually at home, while big corporations are the main winners in Ethereum staking rewards and are the go to for the creation of CBCD.
“CBDCs give central banks future-oriented tools to allow them to implement monetary policy in more direct, innovative ways and keep pace with technological change.”
Joseph Lubin
Founder of ConsenSys and Co-Founder of Ethereum
Tatsuaki Okamoto #Bitcoin #Blockchain #Cryptography
Senior Scientist, NTT Research Inc.
Tatsuaki Okamoto is Director of Cryptography and Information Security Laboratory and NTT Fellow at NTT Research, Inc. His research interests include attribute-based encryption, homomorphic encryption, and functional encryption regarding security and privacy. He was awarded the Asahi Prize (2019) and the RSA Conference Award (2017) for Excellence in the Field of Mathematics. He became an International Association for Cryptologic Research Fellow in 2015. Tatsuaki holds an M.S. (1978) and Ph.D. in Engineering from the University of Tokyo (1988).
I highly doubt CIA created Bitcoin. Have been in Bitcoin since 2011, it is likely Bitcoin was created at MIT. As for Jay Z and Jack being demons, doubt that, both men donated 500 Bitcoin each to fund economic growth, education, and clean water technologies for African narions.
#Bitcoin is metaphorically engraved on the Great Seal of the United States along with the phrases 'Novus Ordo Seclorum' and 'E Pluribus Unum'. #Bitcoin #Nostr
I have been captivated by #Bitcoin since it was introduced. I find everything about it to be valuable. The shadow banking system, the Federal Reserve, fiat currency, and the US debt, which has now surpassed 34 trillion, have all contributed to the decline of the United States Dollar, a once strong currency backed by gold. These failed systems have caused significant damage to my country and our people. Bitcoin is incomparable, and nothing can replicate it. It is the standard for monetary assets. As time goes by, I plan to invest more heavily in Bitcoin, purchase Bitcoin ETFs, and continue down this path. I am also focused on bringing distributed ledger technologies to the Bitcoin #Blockchain on layers of Bitcoin. Unfortunately, some individuals label me as a "shitcoiner" without comprehending the distinction between Bitcoin as an asset and Bitcoin as a blockchain. We are witnessing virtual machines being added to Bitcoin on layers, DeFi TVL reaching billions, Ordinals, BitVM, rollups, zero-knowledge proofs, and of course, #Nostr. This is only the beginning.
Jack Dorsey in a public interview discussing #nostr said that #Bitcoin payments “will grow faster with zaps and the fact we finally have global permissionless payments on the internet.”
Edward Snowden tweeted that “unlike the old social media ‘platforms’ where the platform-owner (FB, Tiktok, Twitter) gets to decide who can speak—and what can be heard—#nostr is an open protocol.”
#BitcoinTalk Satoshi asking for feedback on #Bitcoin logo #nostr
Re: New icon/logo
2010-02-26 23:17:19 UTC - Original Post - View in Thread
Good suggestion. I made the B slightly lighter and the background slightly darker. Very slightly. The foreground is now exactly the same colour as the BC in the old one.
It's kind of OK if you can't easily read the B in the 16x16. At that size, you just need to see that it's a coin. It doesn't matter so much what's embossed on it, just that there be some detail there because it wouldn't look like a coin if it was a blank smooth circle.
It's slightly wider than tall because the dark perspective under it goes more to the right than down.
I finished and posted the 32x31 and 48x47 versions in the first message. I like the 48 a lot.
How does everyone feel about the B symbol with the two lines through the outside? Can we live with that as our logo?
“Bitcoins have no dividend or potential future dividend, therefore not like a stock. More like a collectible or #commodity.” #Bitcoin #nostr
— Satoshi Nakamoto
On Jan. 17, 1993, Hal Finney, the person known for receiving the first Bitcoin transaction from Satoshi Nakamoto, wrote an email with the subject “ #Crypto trading cards” on the online service CompuServe to the #Cypherpunks members, where he mentioned a more interesting way of exchanging digital cash through cryptographic trading cards, as referenced below. #Bitcoin #nostr #ordinals #stamps #runes #nfts
“Collect a whole set! They come in all kinds of varieties, from the common 1’s to the rarer 50’s, all the way up to the seldom-seen 1000’s” Finney said in the message. This is literally describing NFTs at the present time.
https://cryptoslate.com/crypto-trading-cards-how-hal-finney-thought-about-the-concept-of-nfts-over-30-years-ago/https://image.nostr.build/bbcc7e3bc23f751d42b400891504a7f67dab8306b31e56604eef047780f9e7da.jpg
Toxic Bitcoin Maximalism was created by the Ethereum marketing team, led by Charles Hoskinson, Ethereum power brokers also fueled the block wars by funding the losing side. #nostr #Bitcoin
https://youtu.be/4NZCWABWplE?si=-kUsxx4rEXEqZhBR
I find it so bizarre that so many anonymous profiles are #nostr. It is even more bizarre when accounts talk shit about my factual posts from #satoshi himself on #Bitcoin. If you are anonymous that is fine, but if you are anonymous talking shit, you are soy boy maxipad bitch.
#Bitcoin is the alpha apex predator. Bitcoin will eat the world. We are on the verge of seeing a continuation of the miracle that is Bitcoin. Creat of a #BitcoinOS is only the beginning.
The toxic #Bitcoin maxi pad soy bitch boys have lost. A group of people sick in the head that deterred the Bitcoin ecosystem. Self absorbed righteous Bitcoin influencers that replicated marxists. Good riddance. We can declare now that Bitcoin is the alpha apex predator. Bitcoin will eat it all. Everything is coming to Bitcoin. Bitcoin is the operating system of the world. #nostr
January 2011, Finney noted the more speculative conversation taking place in the community's early days, saying those with #Bitcoin should think about how they could put that potential wealth to work in a positive way.
As he explained:
“Since we're all rich with bitcoins, or we will be once they're worth a million dollars like everyone expects, we ought to put some of this unearned wealth to good use.”
Looking back, Finney's comments on a host of other subjects ring just as true today.
#nostr
Namecoin, a fork of #Bitcoin, was created by #Satoshi #SatoshiNakamoto, the creator of Bitcoin. It was launched in 2011 as a decentralized name registration service, similar to the ENS (Ethereum Name Service) we know today.
#Satoshi explaining in 2009 the cautions we have with #Blacrock buying $150,000,000 worth of #Bitcoin everyday in 2024
When someone tries to buy all the world’s supply of a scarce asset, the more they buy the higher the price goes. At some point, it gets too expensive for them to buy any more. It’s great for the people who owned it beforehand because they get to sell it to the corner at crazy high prices.
This was Satoshi’s response to a concerned community member who had asked if a malicious individual could opt to buy all the bitcoin in order to make the network useless.
Satoshi forum posts dating back to 2009. #Satoshi clearly states that #Bitcoin will have layers and supports merge mining. The Bitcoin blockchain is completely different than Bitcoin the asset. This Satoshi quotes sums it up well.
If you don't believe me or don't get it, I don't have time to try to convince you, sorry.
Satoshi Nakamoto
Sigh… why delete a wallet instead of moving it aside and keeping the old copy just in case? You should never delete a wallet.
This was #Satoshi response to a user who had deleted his wallet, leading to the loss of all his #Bitcoin.
I mined block 70-something, and I was the recipient of the first #Bitcoin transaction when Satoshi sent ten coins to me as a test — I carried on an email conversation with #Satoshi over the next few days, mostly me reporting bugs and him fixing them.
#HalFinney was the first person to support and help Satoshi Nakamoto. He also contributed code in 2008 and early 2009, before it was released to the public in January 2009. Hal also went down in history as the receiver of the first Bitcoin transaction, in which Satoshi Nakamoto sent him 10 BTC.
@🐉AT ₿01 is a soy boy bitch. True maxi pad maximalist. I own only #Bitcoin, been in this since 2012. He got me pisses me now. I am going to reveal his identity.
@🐉AT ₿01 is a bitch. Hiding under some fake picture. I will debate anyone on any day. You call me a shit coiner. My only asset is Bitcoin. So come out of hiding soy boy bitch.
“It might make sense just to get some in case it catches on. If enough people think the same way, that becomes a self fulfilling prophecy.”
— Satoshi Nakamoto
I start to realize how moronic the new class of Bitcoiners 2019 - present are. I am a #Bitcoin maximalist. I call the buffoons who lack to learn toxic maxi pad Bitcoiners. They never read the Cypherpunk mailing list, Satoshi writings white paper, or Bitcoin academic papers. #nostr
I have been making money by purchasing #Bitcoin every day, as much as I could afford. I have continued doing so. During the same time, I have also been studying various technologies such as #EVM, ring signatures, smart contracts, zero-knowledge proofs, DeFi, and distributed ledger technology. Through my studies, I have come to realize that all of these technologies are gradually being incorporated into Bitcoin. #nostr
#Bitcoin has the potential to surpass #Ethereum in all aspects eventually. This is not to say that #Ethereum is illegitimate in any way. Bitcoin was designed to be an all-in-one solution, and it's getting closer to achieving that goal. With the introduction of BitVM, the potential of drivechains becoming a reality, payment scaling solutions being implemented, L2s, super meta protocols, and inscriptions, Bitcoin is moving towards becoming a more powerful platform.
You need a lesson in reality. Probably another late person to #Bitcoin. Giving me a lecture is comical.
#Satoshi Nakamoto about second layers.
I don't believe a second, compatible implementation of Bitcoin will ever be a good idea. So much of the design depends on all nodes getting exactly identical results in lockstep that a second implementation would be a menace to the network.
https://bitcointalk.org/index.php?topic=195.0
#Satoshi #Bitcoin cited 10 people in the paper: Dave Bayer, Stuart Haber (time-stamping concept), W. Scott Stornetta, Wei Dai (creator of b-money), Henri Massias, Xavier Serret-Avila, Jean-Jacques Quisquater, Ralph Merkle, William Feller and Adam Back (Hashcash creator).
Here are some of the Cypherpunk documents that influenced Bitcoin’s creation:
“Security without Identification: Transaction Systems to Make Big Brother Obsolete” (1985) by David Chaum, which described anonymous digital cash and pseudonymous reputation systems.
“A Cypherpunk’s Manifesto” (1993) by Eric Hughes, which laid out the core beliefs of the Cypherpunk movement, including the importance of privacy, cryptography, and freedom from centralized authority.
“The Crypto Anarchist Manifesto” (1992) by Timothy C. May, which advocated for the use of cryptography to create a stateless society.
“b-money” (1998) by Wei Dai, which proposed a decentralized digital currency that used proof-of-work to prevent double-spending.
“BitGold” (2005) by Nick Szabo, which described a decentralized digital currency that used proof-of-work and was backed by gold.
Re: BitDNS and Generalizing #Bitcoin
December 09, 2010, 10:46:50 PM
Quote from: nanotube on December 09, 2010, 09:20:40 PM
seems that the miner would have to basically do "extra work". and if there's no reward from the bitdns mining from the extra work (which of course, slows down the main bitcoin work), what would be a miner's incentive to include bitdns (and whatever other side chains) ?
The incentive is to get the rewards from the extra side chains also for the same work.
While you are generating bitcoins, why not also get free domain names for the same work?
If you currently generate 50 BTC per week, now you could get 50 BTC and some domain names too.
You have one piece of work. If you solve it, it will solve a block from both Bitcoin and BitDNS. In concept, they're tied together by a Merkle Tree. To hand it in to Bitcoin, you break off the BitDNS branch, and to hand it in to BitDNS, you break off the Bitcoin branch.
In practice, to retrofit it for Bitcoin, the BitDNS side would have to have maybe ~200 extra bytes, but that's not a big deal. You've been talking about 50 domains per block, which would dwarf that little 200 bytes per block for backward compatibility. We could potentially schedule a far in future block when Bitcoin would upgrade to a modernised arrangement with the Merkle Tree on top, if we care enough about saving a few bytes.
Note that the chains are below this new Merkle Tree. That is, each of Bitcoin and BitDNS have their own chain links inside their blocks. This is inverted from the common timestamp server arrangement, where the chain is on top and then the Merkle Tree, because that creates one common master chain. This is two timestamp servers not sharing a chain.
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#Satoshi theorizes completely separate blockchain can co - exist with #Bitcoin
#BitcoinTalk
BitDNS and Generalizing Bitcoin
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#222
Re: BitDNS and Generalizing Bitcoin
December 09, 2010, 09:02:42 PM
I think it would be possible for BitDNS to be a completely separate network and separate block chain, yet share CPU power with Bitcoin. The only overlap is to make it so miners can search for proof-of-work for both networks simultaneously.
The networks wouldn't need any coordination. Miners would subscribe to both networks in parallel. They would scan SHA such that if they get a hit, they potentially solve both at once. A solution may be for just one of the networks if one network has a lower difficulty.
I think an external miner could call getwork on both programs and combine the work. Maybe call Bitcoin, get work from it, hand it to BitDNS getwork to combine into a combined work.
Instead of fragmentation, networks share and augment each other's total CPU power. This would solve the problem that if there are multiple networks, they are a danger to each other if the available CPU power gangs up on one. Instead, all networks in the world would share combined CPU power, increasing the total strength. It would make it easier for small networks to get started by tapping into a ready base of miners.
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