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1 sat \ 1 reply \ @CruncherDefi 20 Nov \ on: Wtf is going on with the Bitcoin hashrate bitcoin
Hashrate follows the price. If price goes up, more miners are spun up because profit margins get better.
The way I understand it is that it builds on the idea of using bitcoin paywalls as a DDOS deterrent.
For example, if you require 1000 sats for trying to open an SSH connection to your machine you effectively limit capabilities of unwanted people connecting to you.
And if you think what kind of 'resource' makes sense for such use-case, bitcoin is the one.
It's neutral (for example if you would use USD for paywalling, US could attack you as many times as they want, because they can mint new units).
It's physics-bound, so there is upper bound of how many trials they can use (USD has no upper bound).
Think about 'waiting in a line to a doctor'. Can the doctor be DDOSed? Not really, his waiting room won't accommodate 1000000 people - there is not enough 'physical space' resource to fit that many people.
Because bitcoin is physics bound as well you can replicate this kind of limitations in the cyberspace in some sorts.
Pick a switch A. Continually turn it off and on for a really long time (we want the light bulb to burn out).
Turn on switch B.
Switch C is turned off.
You go into other room.
Burned bulb was controlled by A, lit one by B, non-burned unlit by C.
Autistic, genuinely wants to progress humanity but with poor self-error correcting mechanisms. Also too much ego driven - he could use some humility here and there.
Have you considered that having a backup planet might be a good thing? It takes one unfortunate cosmic or geologic event to wipe us or significantly set us back.
Humanity must hedge those risks and going multi-planetary is the only way forward.
What about those "I confirm I am not from US/UK, as SN service is not available to those jurisdiction" modals? It seems this is the way many projects are going for.
275 sats \ 0 replies \ @CruncherDefi 18 Oct \ parent \ on: Why stablecoins and stablechannels are dumb bitcoin
When two things compete in the same category ("store of value"), they are either equal, or one is worse.
Nope. With enough experience you see that usually there aren't better/worse things - only trade-offs. Things are not one-dimensional as you suggest.
If they exist, blockchains and lightning channels are a worse place to do that than other systems like sql databases
What about people that are blocked from banking system? Uncensorability is the main feature of bitcoin blockchain.
They do not need to create these fiat-denominated obligations, and once entered, they usually have escape clauses
Citation needed. Of course most people have fiat-denominated obligations and saying they don't, won't change the factual reality.
Regardless of ethics, it inevitable. It's just simple game theory.
Of course it would be better if no one did that (cooperation). That way we would smoothly transition into bitcoin system without people getting massively rekt.
But if someone defects and does that, others will get taken advantage one. So the only counter play is to defect yourself and also borrow fiat to get bitcoin.
Also this game was played for decades by rich with other hard assets already.
Yes, assuming it's true, it's true for both m and m-1. Lets substract both-sides of equations for m and m-1 and we get:
m^3 = ( 1+2+3+...m)^2 - (1+2+3...(m-1))^2
Rth side is two arithmetic series. We can simplify:
m^3 = ( (1+m) * (m) / 2 )^2 - ( (1+m-1) * (m-1) / 2) ) ^ 2
m^3 = ( (m+1) * m / 2 )^2 - ( (m-1) * m / 2 )^2
Divide both sides by (m / 2)^2
4m = ( (m+1) )^2 - ( (m-1) )^2
4m = ( (m+1 + m-1) ) * ( (m+1-m+1) )
4m = ( 2m ) * ( 2 )
4m = 4m
Facts matter.
Exactly.
Bullet flying in your direction pierces your body, it's a fact.
Rocket flying into your house explodes, it's a fact.
You can destroy a rocket with counter weapon, it's a fact.
You repel kinetic force attack with kinetic force, it's a fact.
Your wishful thinking won't make those facts untrue. If one is getting attack physically, the only counterplay is to defend physically.
Si vis pacem, para bellum
This thread is showcase of how quickly the SN legend @DarthCoin can fall down and be exposed. I see nothing but rambling, ad-personams and zero logical thinking from the guy in this thread.
I hope it's an eye opener to regular SN users to not treat the guy as some kind of oracle.
Being apolitical doesn't give you rocket protection. Bullet flying in your direction doesn't give a fuck about you being apolitical.
You cannot unsubscribe from power projection game.
Just stop with this idiotic bullshit.
Have actually read and understood the OPs post?
Spend and replace. When Laszlo replaced the spend coins after pizza purchase, effectively no bitcoin upside profit is lost.
Tbh this kind of flow "You buy a game on steam, I send you btc" formalized in some app/protocol/nostr_convention with reputation system could be a cool bottom-up distributed alternative to things like bitrefill/robosats.
Everything in real physical world comes with some micropayment.
- Going to the cinema? You must physically spend calories to go to the venue.
- Seeing your friends? Again calories spent.
- Opening the door to the grocery? More calories burned.
- Waiting in a line to a doctor? You are using up a scarce resource that is "physical space".
Basically every action in a physical realm have some explicit or implicit micropayment attached to it.
The internet is weird that it flips it around. In the Internet things have no physical (micro)cost to them causing things like DDOS attack and spambots possible.
Micropayments with base-internet-money would bring normality back to the Internet and would fix many problems that are unique to 'no-cost environment'.
whatever happened to age bringing wisdom
This might have been true centuries ago where human-brain was the most common storage device (so if you lived longer, you obtained more memories and knowledge).
Imagine, for a moment, that an attacker has knowledge of these “less secure” seed phrases. They don't need to brute force the entire possible range of seed phrases, just the compromised range.
That's why you roll the dices yourself. Also verify off-device that it follows the seed-from-rolls standard (manufacturers provide code to verify it)
What if they could wait until your shiny, trustworthy hardware wallet is finally connected to your computer?
That's why you never connect it to computer. Only communicate through air-gapped medium like camera+qr_codes.
The supply chain for hardware wallets is mostly a black box
What about using generic hardware like rasberry_pi + seedsigner? Those devices are not build for bitcoin keys. Supply-chain attack probability is significantly reduced.
No, but we don't have any secrets
You arbitrary combined two dimensions:
-
[Yes; No]
-
[We don't have any secrets; We don't need to share everything]
which means you excluded two combinations.
I would vote for "No; we don't have any secrets"