269 sats \ 0 replies \ @softsimon 13 Apr \ on: Weekend Book Recommendations BooksAndArticles
Hijacking Bitcoin. Great work of Bitcoin fan fiction.
Hey I just created this hours ago. 😆 The idea is that discussions around Mempool is going to be more relevant in 2024.
Housing prices today is basically based on how much people are able to take on in debt. Lowering interest rates pumps the price on housing. This is why a $100k house 20 years ago now cost $10M and it's all about passing around debt to the greater fool that is now stuck as a fiat slave to the banks.
Ever heard of people being able to afford their houses full in cash on one salary back in the days? Yep, that was on the gold standard.
Is the consensus "chain with most work" or "longest chain with most work", if they are not mutually exclusive.
Imagine a bitcoin whale with too many coins to spend. What would be the best way to support or invest in the ecosystem to increase the chance of Bitcoin succeeding at this point?
Many people that has been in Bitcoin for very long end up with Bitcoin derangement syndrome, meaning they think the protocol or community has "changed" beyond the original mission and go altcoining or quitting.
How have you handled the change in Bitcoin culture and still manage to stick around even attending every conference out there?
This is why blocks also store a separate time stamp called "mediantime". The main "time" timestamp set by miners is allowed by consensus to drift within a certain window and still be valid. mempool.space displays the "time" of what miners set.
Lightning Privacy: When I make a LN payment. Who/what can see I made the payment? Who can see and know from which UTXOs the payment come from? How is the privacy different depending if I am the sender or the receiver?
Why do Bitcoin VCs invest in risky companies instead of simply buying bitcoin for better risk reward?
Just based of what I've seen. Bitcoin block size and block space are scarce and the limitations are also very arbitrary. Currently you can do 1 sat/vb, but what happened in 2020 for example is that as soon as the fee market starts for real, it will shoot up to 100 sats/vB .. and we get true price discovery for block space.
What happens when fees go up is that the market adapts, stop doing some transactions, migrate to other technologies like Lightning. This part is very unpredictable. It's like the people 100 years ago that predicted that food and oil would run out in the world... They base their assumptions on current data. We don't know how the market adapt and what scaling tech will exist in 20 years.
Personally I think one thing is for sure,, if Bitcoin is successful and adoption continues,, there will be a fee market enough to cover security. And it will not be like now with empty blocks during a bear market, it will have a steady market price as world trade continues 24/7.
- I think I replied to this in an earlier question
- I guess it must be the very first feature which was visualizing the mempool as blocks, mempool blocks.. it was the first main idea of the site and remains the most important feature of the website still. An innovation that makes it stick out from all other block explorers and now very recognizable.