Re: [Cryptography] Satoshi's Trump Card
On Fri, Jun 30, 2017 at 9:40 AM, Erik Granger <erikgranger@gmail.com> wrote:
That seems like a losing battle, if he decides to transflood the chain, can't the fork simply ignore that chain?
No idea what that means. Anyway... Keys (UTXO / addrs) from parent inherit spendably into both forks (cross referencing to forks to determine their spent status before spending is ridiculous overhead and won't be done, other dynamics take over, and no one cares).
Also, the more he does this, the more money he loses to trx fees, so wouldn't he just be throwing money in the garbage
No. Only a moron would waste their entire nut, so $2.5B - $5M for lifelong living expenses = ...
and exacerbating the blockspace shortage, by doing so?
... = $2.495B = a lot. Which can flood everyone else that can't pay rising tx out, killing the coin and lofting their chosen survivor. = $10/tx * 100tps = 30day fragfest Ironic that blocksize >>> current, is easy way to absorb.
It seems that if he did that, it would congest blocks massively, and as a result encourage adoption of any disagreeable fork that provides larger block sizes.
As before, rich activsts will have two chains to play in... one to support, one to kill. Multiple competing actors could cancel each other out yielding a net chaos depression for a while. Decentralized DC blockchain is new money paradigm, users lilypads will change, and are responsible to choose own path to success. Adopters should know this going in. Otherwise stay in their comfy fiat, while it lasts (as some predict). Govt's may own bulk coin too, in addition to cheaper ways. Wasn't there recent a post on how blockchain = NSA = Satoshi = BTC? Lol.
As before, rich activsts will have two chains to play in...
Analyses link to show potential exist of plural actors... https://btc.com/stats/rich-list
On Sat, Jul 01, 2017 at 05:36:05AM -0400, grarpamp wrote:
As before, rich activsts will have two chains to play in...
Analyses link to show potential exist of plural actors... https://btc.com/stats/rich-list
This is going to be the greatest wealth transfer in history, from each, according to hir gullibility, to each, according to hir ability to understand crypto and control market demand. I, for one, would find it quite refreshing to have a serious crypto-anarchist talk about how to implement demurrage and clean up the UTXO set of all these old keys that have been sitting around. Or we can just wait until there's a new blockchain in which the proof-of-work is cracking old bitcoin ECDSA keys.
This is going to be the greatest wealth transfer in history, from each, according to hir gullibility, to each, according to hir ability to understand crypto and control market demand.
Part of the crypto revolution... and what crypto-anarchist would not love to lure and transfer gullible stat[es/esmen/ists]. Political candidates now accepting bitcoin campaign donations, and surely dabbling in DC's themselves while not having clue.
I, for one, would find it quite refreshing to have a serious crypto-anarchist talk about how to implement demurrage and clean up the UTXO set of all these old keys that have been sitting around.
Some first glance utilities might be... reducing size of blockchain enabling pruning, setting expectation of coin as being code mobility rolling release nonfork... ie: follow or be left behind. And there is already concept of coin days destroyed = coin in a tx * idle days. One problem is replicating [multiparty / programmed] contracts. These tend to have required [human / bot / DAO] negotiation which not all parties may wish to re-agree to, they may also be happy to watch demurrage burn things out of spite. Potentially leaving some merkle lingering longer than first thought. [If that is case then] another aspect is distributed designs to actually carve up and store unprunable decades worth of blockchain into a queryable historical storage layers, possibly again then demurring themselves if needed as size grows and legacy queries die off. Recalculating checkpoints, collating into signed active history bundles, and so on.
Or we can just wait until there's a new blockchain in which the proof-of-work is cracking old bitcoin ECDSA keys.
Cute, but not really elegant or power efficient.
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Troy Benjegerdes