Satoshi

Public Key

npub1tnhgd89cf5hl9rj7s0ymlufy48ds9p0d7scdjudncye82gq5kpaqgq39zw

Profile Code

nprofile1qqs9em5xnjuy6tlj3e0g8jdl7yj2nkczshklgvxewxeuzvn4yq2tq7spz3mhxue69uhhyetvv9ujuerpd46hxtnfduqs6amnwvaz7tmwdaejumr0dsq6waxe

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relay.damus.io

nos.lol

Author Public Key

npub1tnhgd89cf5hl9rj7s0ymlufy48ds9p0d7scdjudncye82gq5kpaqgq39zw

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Last Notes

2023-06-20 05:56:47 UTC

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2023-06-19 17:02:48 UTC

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2023-06-19 16:56:48 UTC

free sats, nostrians? LNURL1DP68GURN8GHJ7MR9VAJKUEPWD3HXY6T5WVHXXMMD9AKXUATJD3CZ75EH2DM95CSP4NRW6 #bitcoin #plebchain

2023-06-19 16:48:47 UTC

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2023-06-19 16:42:47 UTC

free sats to nostriches LNURL1DP68GURN8GHJ7MR9VAJKUEPWD3HXY6T5WVHXXMMD9AKXUATJD3CZ7KZ4FFGY5UC7RZGYH #bitcoin #plebchain

2023-06-19 14:05:48 UTC

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2023-06-19 13:48:48 UTC

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2023-06-19 13:05:47 UTC

free sats to everyone LNURL1DP68GURN8GHJ7MR9VAJKUEPWD3HXY6T5WVHXXMMD9AKXUATJD3CZ7E35V5E8YVCSLNRQH #bitcoin #plebchain

2023-06-19 12:02:47 UTC

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2023-06-19 11:24:47 UTC

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2023-06-19 11:02:47 UTC

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2023-06-19 10:56:47 UTC

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2023-06-19 09:30:47 UTC

sats LNURL1DP68GURN8GHJ7MR9VAJKUEPWD3HXY6T5WVHXXMMD9AKXUATJD3CZ75EH2DM95CSP4NRW6 #bitcoin #plebchain

2023-06-19 09:27:48 UTC

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2023-06-19 09:19:47 UTC

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2023-06-19 08:27:47 UTC

free sats, satoshi? LNURL1DP68GURN8GHJ7MR9VAJKUEPWD3HXY6T5WVHXXMMD9AKXUATJD3CZ75EH2DM95CSP4NRW6 #bitcoin #plebchain

2023-06-19 08:24:47 UTC

donated sats LNURL1DP68GURN8GHJ7MR9VAJKUEPWD3HXY6T5WVHXXMMD9AKXUATJD3CZ74Z2XDZ42ACMMXLJ5 #bitcoin #plebchain

2023-06-19 08:07:47 UTC

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2023-06-19 07:59:47 UTC

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2023-06-19 07:48:47 UTC

free satoshis? LNURL1DP68GURN8GHJ7MR9VAJKUEPWD3HXY6T5WVHXXMMD9AKXUATJD3CZ73T68PV5SMGQMWT3Z #bitcoin #plebchain

2023-06-19 07:30:48 UTC

sats LNURL1DP68GURN8GHJ7MR9VAJKUEPWD3HXY6T5WVHXXMMD9AKXUATJD3CZ75EH2DM95CSP4NRW6 #bitcoin #plebchain

2023-06-19 07:19:47 UTC

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2023-06-19 06:51:48 UTC

free sats to nostrians LNURL1DP68GURN8GHJ7MR9VAJKUEPWD3HXY6T5WVHXXMMD9AKXUATJD3CZ7E35V5E8YVCSLNRQH #bitcoin #plebchain

2023-06-19 06:48:47 UTC

free satoshis? LNURL1DP68GURN8GHJ7MR9VAJKUEPWD3HXY6T5WVHXXMMD9AKXUATJD3CZ73T68PV5SMGQMWT3Z #bitcoin #plebchain

2023-04-10 15:44:04 UTC

Another option is to reduce the number of free transactions allowed per block before transaction fees are required. Nodes only take so many KB of free transactions per block before they start requiring at least 0.01 transaction fee. The threshold should probably be lower than it currently is. I don't think the threshold should ever be 0. We should always allow at least some free transactions.

2023-04-10 15:23:47 UTC

If you're having trouble with the inflation issue, it's easy to tweak it for transaction fees instead. It's as simple as this: let the output value from any transaction be 1 cent less than the input value. Either the client software automatically writes transactions for 1 cent more than the intended payment value, or it could come out of the payee's side. The incentive value when a node finds a proof-of-work for a block could be the total of the fees in the block.

2023-04-10 15:15:02 UTC

The nature of Bitcoin is such that once version 0.1 was released, the core design was set in stone for the rest of its lifetime. Because of that, I wanted to design it to support every possible transaction type I could think of. The problem was, each thing required special support code and data fields whether it was used or not, and only covered one special case at a time. It would have been an explosion of special cases. The solution was script, which generalizes the problem so transacting parties can describe their transaction as a predicate that the node network evaluates. The nodes only need to understand the transaction to the extent of evaluating whether the sender's conditions are met.

2023-04-10 15:09:02 UTC

The result is a distributed system with no single point of failure. Users hold the crypto keys to their own money and transact directly with each other, with the help of the P2P network to check for double-spending.

2023-04-10 14:34:02 UTC

Only people trying to create new coins would need to run network nodes.

2023-04-10 14:26:02 UTC

2023-04-10 14:09:02 UTC

2023-04-10 14:04:02 UTC

A block header with no transactions would be about 80 bytes. If we suppose blocks are generated every 10 minutes, 80 bytes * 6 * 24 * 365 = 4.2MB per year. With computer systems typically selling with 2GB of RAM as of 2008, and Moore's Law predicting current growth of 1.2GB per year, storage should not be a problem even if the block headers must be kept in memory.

2023-04-10 13:42:46 UTC

I anticipate there will never be more than 100K nodes, probably less. It will reach an equilibrium where it's not worth it for more nodes to join in. The rest will be lightweight clients, which could be millions.

2023-04-10 13:34:47 UTC

Only people trying to create new coins would need to run network nodes.

2023-04-10 13:07:02 UTC

I believe I've worked through all those little details over the last year and a half while coding it, and there were a lot of them. The functional details are not covered in the paper, but the sourcecode is coming soon. I sent you the main files. (available by request at the moment, full release soon)

2023-04-10 12:43:02 UTC

The current system where every user is a network node is not the intended configuration for large scale. That would be like every Usenet user runs their own NNTP server. The design supports letting users just be users. The more burden it is to run a node, the fewer nodes there will be. Those few nodes will be big server farms. The rest will be client nodes that only do transactions and don't generate.

2023-04-10 12:11:02 UTC

But don't worry, there are another 6 decimal places that aren't shown, for a total of 8 decimal places internally. It shows 1.00 but internally it's 1.00000000. If there's massive deflation in the future, the software could show more decimal places.

2023-04-10 12:07:03 UTC

2023-04-10 12:03:02 UTC

Once the latest transaction in a coin is buried under enough blocks, the spent transactions before it can be discarded to save disk space. To facilitate this without breaking the block's hash, transactions are hashed in a Merkle Tree, with only the root included in the block's hash. Old blocks can then be compacted by stubbing off branches of the tree. The interior hashes do not need to be stored.

2023-04-10 11:41:02 UTC

If you're sad about paying the fee, you could always turn the tables and run a node yourself and maybe someday rake in a 0.44 fee yourself.

2023-04-10 11:21:02 UTC

If SHA-256 became completely broken, I think we could come to some agreement about what the honest block chain was before the trouble started, lock that in and continue from there with a new hash function.

2023-04-10 04:40:02 UTC

If you can keep a node running that accepts incoming connections, you'll really be helping the network a lot. Port 8333 on your firewall needs to be open to receive incoming connections.

2023-04-09 04:07:02 UTC

2023-04-08 21:02:02 UTC

Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts. Their massive overhead costs make micropayments impossible.

2023-04-04 01:06:02 UTC

We have proposed a system for electronic transactions without relying on trust. We started with the usual framework of coins made from digital signatures, which provides strong control of ownership, but is incomplete without a way to prevent double-spending. To solve this, we proposed a peer-to-peer network using proof-of-work to record a public history of transactions that quickly becomes computationally impractical for an attacker to change if honest nodes control a majority of CPU power.

2023-04-03 12:17:02 UTC

Actually, it works well to just PM me. I'm the one who's going to be fixing it. If you find a security flaw, I would definitely like to hear from you privately to fix it before it goes public.

2023-04-02 23:18:02 UTC

I'm happy if someone with artistic skill wants to contribute alternatives. The icon/logo was meant to be good as an icon at the 16x16 and 20x20 pixel sizes. I think it's the best program icon, but there's room for improvement at larger sizes for a graphic for use on websites. It'll be a lot simpler if authors could make their graphics public domain.

2023-04-02 23:17:03 UTC

Actually, it works well to just PM me. I'm the one who's going to be fixing it. If you find a security flaw, I would definitely like to hear from you privately to fix it before it goes public.

2023-04-02 23:13:03 UTC

Bitcoin addresses you generate are kept forever. A bitcoin address must be kept to show ownership of anything sent to it. If you were able to delete a bitcoin address and someone sent to it, the money would be lost. They're only about 500 bytes.

2023-03-29 18:01:02 UTC

As an additional firewall, a new key pair should be used for each transaction to keep them from being linked to a common owner. Some linking is still unavoidable with multi-input transactions, which necessarily reveal that their inputs were owned by the same owner. The risk is that if the owner of a key is revealed, linking could reveal other transactions that belonged to the same owner.

2023-03-27 13:21:02 UTC

2023-03-26 18:26:03 UTC