Number go up
All those BABlers adding transactions to SV chain!
Bitcoin and sustainability of its security model
The security model of Bitcoin, aside from digital signatures, is primarily based on economic incentives. Miners secure the network by competing in the open market in pursuit of the block reward. Home users used to be able to “generate” coins using the Bitcoin Core client itself, with normal consumer hardware. We now have large mining farms and pools, and it is no longer feasible for the home user to mine without an expensive ASIC miner. Proof of Work, the cryptographic mechanism by which mining is performed, requires constant investment and innovation. The miner at the top must innovate to stay on top; he can not rest on his laurels, so to speak. Bitmain was seen as an unstoppable juggernaut just a year ago; there are now rumors of impending bankruptcy and selloffs. The mining market is very unforgiving, and only the most cutthroat capitalist can win at the end of the day. If he wants to continue winning, he must continue to innovate...
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Not gonna use memo until block becomes available. It's a broken circlejerk echo chamberish platform made for trolls. Waste of time.
BTC vs Bitcoin
We can all reach the consensus that 21mil is the cap. The reality is, we haven't yet seen a sustainable security model that would support that number.
#Bitcoin #ThereIsNoSpam
Muuuh raspberry pi datacenter.....
Anarchist is just a butthurt fascist who isn't able to impose his will on others
Memo android app is very cool. Since it's here I use memo way more. Great job Jason!!
Retweet/Rememo would be a welcoming addition to memo.
An intrinsic advantage of the bitcoin as a data carrier is that it uses the same blockchain to record both payments and content data. When adding script and stable protocol to the mix you have an
#unfuckening.
Storing data on a bitcoin has the obvious advantage that a payment mechanism is built into the system. It's possible to develop payperview of encrypted data. The complexity of every data solution is low.
Core hijacked Satoshis invention and bastardized it to a socialist experiment where POW doesn't matter and your full node gives you voting rights. Also zero conf works.
I wrote a bit about sustainability of bitcoins security model and why opening doors to second layer may not be the best idea in the long term.
https://link.medium.com/GPlhGx8RWT
r/btc
#Bitcoin gives another previously nonexisting dimension to solutions of many problems. The one can't afford anymore his mind to only look at technical solutions and not consider economic ones.
Why are socialst jokes not funny? Because everyone needs to get them.
