[ANN] [BSV] [Bitcoin SV] Original Satoshi Vision - page 26.

BSVfan

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Theory of Bitcoin: Craig Wright explains what’s going on with those copyright claims

https://www.youtube.com/watch?v=XsQJVqvGBLY

You’ll want to watch the latest episode of “Theory of Bitcoin” as it’s especially topical—Bitcoin creator Dr. Craig S. Wright and Fabriik’s Ryan X. Charles talk about Dr. Wright’s flurry of copyright claims against BTC-related projects. It’s one of the first times he’s spoken at length about why this is happening, and as always he’s got a lot to say.

It’s a discussion full of warnings: for BTC investors, developers, associated projects and those who offer their support to them.

https://twitter.com/theoryofbitcoin/status/1353843569572777984

“I see there being no way around this being a giant disaster in the financial world,” says Charles, adding that he sees many in the digital asset industry as thinking only about short-term gains, without thinking any of the details through.

“My plans are for the next 30 years,” Wright replies.

When asked about Square, he takes aim at Silicon Valley and its ethical standards once again. The so-called “gig economy” aims to outsource all labor—and with it, responsibility, risk and legal liability—to independent third-parties. He suggests the real motive is not to transform work, but something more cynical. Square in particular, Dr. Wright says, has little interest in supporting Bitcoin but is looking for something to use for settlements instead of SWIFT, and is happy to hand off all liability to its independent-contractor team of blockchain developers. These are the people who’ll end up in the most trouble.

Charles has been taking a devil’s advocate role more frequently in recent episodes, allowing Dr. Wright to respond to some of the most fervent criticisms he faces. Wright’s view of Bitcoin may be correct but it’s definitely the “minority one,” he points out. It’ll be a difficult challenge to sway everyone’s opinion.

This is why it’s so important to establish what the “real” Bitcoin is and who gets to determine how it’s used, who owns the transaction database and, ultimately, whose opinion matters most.

Dr. Wright has no love for (Twitter CEO and Square co-founder) Jack Dorsey. He says BTC only has the image/acceptance it has due to large Silicon Valley companies promoting it, and silencing dissent. Their complete control over public discourse, official narratives and access to information is more “anti-news” than news, which is where their power really lies.

There are serious financial implications (to supporting BTC) too, Dr. Wright says. When he issued Bitcoin in 2009, it had a value of zero. The “airdropped” BTC asset—launched in August 2017 when the chain accepting segregated witness transactions split from the original protocol rules—is legally an “airdropped” token. Since Bitcoin in August 2017 had a unit value around US$4,000 and a market cap in the tens of billions, it has several more liabilities. Not many people are considering this potential outcome… but they should.

He also warned people who were now registering their own copyrights to the Bitcoin white paper, suggesting it was a bad idea to publicly commit fraud on a government platform. Perhaps they think it’s a joke, or they’re doing something good, Wright says. There are a lot of well-meaning but ignorant people in the industry.

And they shouldn’t blame him for pointing out the realities they’re facing, he says.

“Really, it comes down to… people see money, and they don’t want to think about it. They’re sitting there going ‘this is how it works, why? Because I’ve been told. Because coin goes up.’ And they’re afraid that might change. I’m making money … don’t rock the boat. But the boat’s going to be rocked. And if I don’t do it, someone else will.”

He doesn’t enjoy taking the action he’s taking, but it’s necessary: “If I have to do this to prove I’m right, then I will.”

It’s a “Theory of Bitcoin” episode full of warnings and clarifications. In fact, of all the discussion in this series it’s probably the one even opponents of BSV should watch… and take note. There’s a lot more to Bitcoin, its creator and its 12-year history than most assume. It’s good to know what lies between all those knowledge gaps.

To watch previous episodes of the Theory of Bitcoin, subscribe to the Theory of Bitcoin YouTube channel here https://www.youtube.com/channel/UC2qsCjXNXfiQfKYox339lZg/featured .

Source: https://coingeek.com/theory-of-bitcoin-craig-wright-explains-whats-going-on-with-those-copyright-claims/ Thanks to Jon Southurst

Bitcoin SV (BSV)

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Bitcoin SV Node software releases v1.0.7

It’s live! Previously, we covered the key feature of the newest node update to Bitcoin SV: the end of the ancestor limit. But there are a few more changes of note.

Steve Shadders, nChain CTO, Technical Director of the Bitcoin SV Infrastructure team, (and the man that no small blocker is willing to debate), hinted at the release over the holidays, but now the prize is here and ready to sync up the chain!

Naturally, Shadders is onto the next project, so we can discuss the current release in detail.

According to the node team, “Version 1.0.7 upgrade is a beta release from version 1.0.6.” So the changes are mostly small, but be sure to know the risks before upgrading critical infrastructure to the new release.

What has been changed?

● CPFP and ancestor limit extended from 25 to 1000 transactions.
This is the big change! After the block size limit, the ancestor limit was the next most difficult problem to work around. Until this week, a typical user of Twetch might find themselves unable to interact with people for more than a few minutes before they hit the dreaded speed limit and had to wait for a block. This was a nightmare for user experience!

Money Button, MetaStreme and others created workarounds for the irritating limitation, but now honest nodes on the network and the wallets they serve will not have to mess around anymore! With this new simplification and expansion of limits, we will likely see transaction processors opening up their limits quickly to allow the creation of very long chains of transactions.

With a 1000 ancestor limit from an unconfirmed parent transaction, assuming a ten minute block time, users will be able to make more than one transaction per second in near perpetuity. This is revolutionary, and a first of its kind in the blockchain economy! Making estimations as to how rapidly new use cases will be adopted by the economy is anyone’s guess, but this is one more superlative to add to an increasingly long list of reasons to use Bitcoin SV for business.

● Legacy block assembler removed; support for low priority / free transactions removed.
Related to the ancestor limit change in BSV vs BTC, blocks in “Bitcoin” Core (BTC) nodes do some transaction reordering because of the limited block space. BTC miners want to be sure to pick up the most profitable transactions while being able to push out lower fee transactions in mempool while focusing on profits. With no block size limit, and no ancestor limit, such tailoring is unnecessary, and therefore, some efficiency can be made with the code by trimming it back. In short, fewer functions = more efficiency for the new BSV node version!

● Refactoring of CoinView
Some more house-keeping related to the ancestry limit change. Since the mempool’s relationship to longer chain limits has now changed, this too has been simplified. “CoinView” needed minor changes from previous versions.

● P2P improvements
Per usual, with focus on peer-to-peer functionality, some minor changes were made due to the change in ancestor limits. Since this version is a beta upgrade from version 1.0.6, interested parties should see the big steps in P2P functionality with “SPV Channels” and the newest version of mAPI which were covered in detail here.

We asked Shadders if he could illuminate the improvements to make sure nothing important was overshadowed by the ancestor limit news, and it’s good that we asked:

The P2P improvements are fairly major actually! We are now capable of opening multiple connections between peers. Previously, they were broken into a ‘control’ channel and a ‘data’ channel. The general idea is that if you send a large Tx message in the queue to be sent out over the connection, they can block other higher priority messages (e.g. block announcements) until the tx messages clear the queue. By separating the control channel from the data channel we get priority messages out promptly and vastly improve the efficiency with which nodes can sync in high throughput environments.

With new efficiency comes the opening up of new market opportunities. We’re looking forward to seeing what exciting new uses come from this important update to the SV Node.

See also: Steve Shadders’ presentation at CoinGeek Live, Bitcoin SV Technical Update: Infrastructure for the World Blockchain:

https://www.youtube.com/watch?v=Wr8nZhC_9WA&feature=youtu.be

Thanks to BitCoin Devs & Cass Clark - Kurt Wuckert Jr https://coingeek.com/the-bitcoin-sv-node-software-releases-v1-0-7/

New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.

Do_zzze

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Quote from: Bitcoin SV (BSV) on January 31, 2021, 09:00:29 AM

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👏 👏 👏 👏 👏 👏 👏 👏 A big win for the Honest Men at Somerset 👏 👏 👏 👏 👏 👏 👏 👏

https://ayrunitedfc.co.uk/ @AyrUnitedFC ©Alan Graham

YEAH GREAT WIN, CONGRATS GUYS !

United remain unbeaten at home in the league this season Cool

Bitcoin SV (BSV)

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👏 👏 👏 👏 👏 👏 👏 👏 A big win for the Honest Men at Somerset 👏 👏 👏 👏 👏 👏 👏 👏

https://ayrunitedfc.co.uk/ @AyrUnitedFC ©Alan Graham

Do_zzze

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🟢A bifurcation of rules creates a diverging game protocol. North America play 'Football", created in 1869 as a game with an egg shaped ball, passed forward by throwing with hands. The original protocol for football was documented in 206BC in China under the Han Dynasty.

A new set of rules was created for competition football, in Greece in 228 which involved hands and violence. Association football, known as "Football" in the UK but "Soccer" in North America (to avoid confusion with their football protocol) was recorded in 1842, using feet only.

Soccer is played with a round ball and only the goalkeeper can use their hands inside their own box. Rugby began at my former school of Rugby, Warwickshire, UK, in 1823 by William Web Ellis, during a game of football where he picked up the ball and ran with it.

This is an egg shaped ball that can only be thrown backwards. North America adopted these rules of Rugby, adding protective helmets and body armour which are not allowed in Rugby. Australia did the something similar. In the UK, we call North American football "American Football".

We call Australian football "Aussie Rules Fooball" and both America, Canada and Australia call British Footbal "Soccer". UK plays both Football (Soccer) and Rugby, as do New Zealand, South Africa, New Zealand, Republic of Ireland and Oceana.

These sports are mutually exclusive and they have their own set protocols. They are not played in the same countries, in the same stadiums with the same fanbase. It's the same with BTC, BCH & BSV. All 3 have history going back to the Genesis block in January 2009.

BTC created a new game and new protocol in 2017 by adding changes to the protocol, thus changing the game. BCH changed the protocol too in 2018 creating a new protocol and non compatible ruleset. Cross chain Bitcoin transactions remain shared & mutually supported up until a fork.

Exchanges are like supporters. They call the sport they like playing the name of the team they support. These teams are reference node implementations chosen by the ticker (team) that was playing before. Bitcoin Core changed the Bitcoin protocol but retained the trading ticker.

Supporters of the original Bitcoin protocol have been reassigned tickers but have been reassigned names by exchanges to differentiate the naming convention of their hosting teams game. BSV is Bitcoin with the original progeny. It's Bitcoin in every sense of the founding protocol.

Now imagine the uproar if I went to America, bought out all of the football stadiums and told all of the players they can only play soccer rules, only with feet, only with a round ball. The fans turn up expecting touchdowns but they get headers, volleys, chips and hooks instead.

BSVers don't care about the ticker. The original Bitcoin ticker was XBT anyway. What we care about is our original game's protocol retaining its progeny and not having people who "ran with the ball' changing the rules of the game after they thought Satoshi had left.

Satoshi didn't leave. He focussed on creating a Football Association and international teams of players for a World Cup Competition, where everyone can compete. A global, international sport.

Core stole Satoshi's ball.
Craig Wright wants his ball back!

May the best team win.

Source https://twitter.com/murphsicles/status/1353721938594713601 Roy Murphy @murphsicles

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Now you understand why original protocol have bifurcated (Forked) to XBT > BTC > BCH > BSV. And why now BitcoinSV is only the real Bitcoin compliant with Satoshi Nakamoto (aka authentic CSW) work 👆

Very informative is not it?

BSVfan

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😂 This is humor you will (maybe) understand... but don't forget... come on, use or build start with BSV. it might save you this kind of inconvenience. Using BSV is #useful, BSV is not BTC because BSV is Bitcoin

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✓ Now nChain has a workforce of over 200 employees

source https://www.youtube.com/watch?v=K-jDlqQkknI&feature=emb_logo

BSVfan

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« People... Welcome aboard Satoshi SN9 and SN10 🤪 The CraigX company has the most beautiful hostesses in South Africa but due to a technical problem none of them are on board today... »

« The on-board staff will offer you the following menu, served during the flight: Cocktail of friendship - Supreme of good health - Gratin of prosperity - Platter of excellent news - Salad of success - Log of happiness - All accompanied by bubbles of laughter »

« If you are traveling with a small child, help him/her put on his/her oxygen mask. If you're traveling with several infants, decide now which one you like the most »

« Prepare for launch 😋 »

kna

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Bitcoin White Paper Statement of Jan 29, 2021

Last week, I instructed my lawyers to send a series of formal legal letters to a very specific list of people and organisations who were hosting the Bitcoin white paper on their websites.

This wasn’t done to limit the public availability of the white paper—quite the opposite. I am proud that when I first posted it online, in 2008, the system described within the white paper generated substantial excitement, which has only grown since. As far as I’m concerned, the more people who read the white paper—actually read it—the better. It would go a long way towards furthering people’s understanding of what Bitcoin is, and what it is not.

The Bitcoin system described in the white paper is not ambiguous. It is not open to interpretation. It is a peer-to-peer system of electronic cash. Cash means utility and practicality for daily use to make Internet commerce payments, including for “small casual transactions”, as noted on page 1 of the white paper. Cash means the network must be able to scale to support a high volume of transactions at high speeds and very low costs. For it to work, the underlying protocol must be set in stone, and not open to repeated revision by constantly tinkering developers who do not understand the system they may break. The system described in the white paper is clearly not one whose primary purpose and promotional message involves the storing of value or “digital gold” as a reserve asset.

And yet today, organisations use the Bitcoin name and the white paper itself to promote coins and products which they know to be inconsistent with the system as originally described. Such alternate coins and products not only fail to live up to the specification set out in the white paper, but still use the Bitcoin name and the white paper to promote themselves. As the author of the white paper, I feel compelled to exercise my legal rights and to ensure that it cannot be marketed in such a way—not just so that Bitcoin can live up to its potential, but so that people are not misled into supporting a different endeavour, having been led to believe that they were supporting Bitcoin.

In no other context would my acting appear as unusual or noteworthy. In fact, my failure to do so would at best be questionable and at worst a failure of my duty. Alas, such is the campaign of misinformation and obfuscation which has emerged over many years.

I do not want to be misunderstood: if a person would like to develop a system of digital gold or of slow, expensive online transacting, I would encourage them to pursue it, even though my opinion may be that such a project is ultimately doomed. Innovation is a great thing. It’s why the fixed nature of the protocol is such an important component of what Bitcoin is: if the protocol is subject to continuous change, how can meaningful innovation possibly take place using the system? When the Internet protocol was set in stone, we saw mass Internet adoption and use. Without the certainty that the protocol you are developing on is still going to be able to support your product a year or 10 years after its launch, innovators will simply choose to go elsewhere.

What I hoped to achieve by taking action against certain misusers of the white paper was to bring awareness to the Bitcoin system that is described within it, and to distinguish the system from others using the Bitcoin name. I believe the white paper speaks for itself. Whether something is ‘Bitcoin’ or not can be easily checked with reference to the document. If it fails to live up to the system of peer-to-peer electronic cash described therein, then it is not Bitcoin. Bitcoin SV is the Bitcoin system I described in the white paper. While much of the world may not see it yet, over time, people will; the technology speaks for itself. My life’s work has been about creating a micropayment system: one that brings electronic cash to the Internet in the form of small-value micro- and even nano-transactions.

I know that many people do not agree or do not understand why I have taken such course. To them I say, this is my personal battle, not that of the many companies and individuals in the Bitcoin ecosystem focusing on building an honest system, a system that is changing the world for the better.

Source Craig Wright Blog https://craigwright.net/blog/bitcoin-blockchain-tech/bitcoin-white-paper-statement-of-jan-29-2021/

Read The Original Bitcoin White Paper on https://craigwright.net/bitcoin-white-paper.pdf

Further reading for more facts: https://coingeek.com/the-war-on-bitcoin/ & https://coingeek.com/?s=cartel

Bitcoin SV (BSV)

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Bitcoin white paper is a personal legacy for one man; Bitcoin SV is a bigger vision for the world

In light of the recent events regarding copyright enforcement of the Bitcoin white paper, Bitcoin Association Founding President Jimmy Nguyen [ur=https://www.linkedin.com/pulse/bitcoin-white-paper-personal-legacy-one-man-sv-bigger-jimmy-nguyen/l]wrote a public blog on his personal LinkedIn [/url]page reflecting on the situation and sharing some of his own thoughts. It is republished with permission in full below.

Over the past week, copyright law has triggered a frenzy of media attention and social media talk in the digital currency world. That’s because Dr. Craig Wright sent (through his lawyers) legal demand letters to a number of website operators to enforce his copyright to the famed Bitcoin white paper. It’s important to note that neither Bitcoin Association nor the wider Bitcoin SV ecosystem are parties to this legal enforcement; this is a personal effort by Craig to reclaim what he sees as a key part of his legacy. So while I would not normally be one to offer a public opinion on someone’s personal legal proceedings, given the industry interest and my prior experience as an intellectual property lawyer, I wanted to share some thoughts.

Craig attests that he is the author of the Bitcoin white paper (originally posted online in 2008 under the pseudonym Satoshi Nakamoto and [ur=https://craigwright.net/bitcoin-white-paper.pdfl]now posted[/url] on Craig’s personal website with his name as author). He says that he wants the white paper removed from certain websites – such as Bitcoin.org, BitcoinCore.org and Bitcoin.com – which use it to promote Bitcoin Core (BTC) and Bitcoin Cash (BCH). Those are two competing versions of Bitcoin which no longer represent Bitcoin at all. Instead, Craig and many others argue that Bitcoin’s original design and protocol, as described in the white paper and other early Satoshi writings, now live only in the form of Bitcoin SV (BSV).

But what’s the difference between Bitcoin variants and why does it matter?

The Satoshi white paper explains Bitcoin is intended to be a “peer-to-peer electronic cash system” that makes Internet commerce payments more cost-efficient, including for “small casual transactions.” An efficient online payments infrastructure – a true electronic cash system widely used in daily life – requires a network that can handle huge volumes of fast transactions, processed for minimal fees. Satoshi reinforced this point early in Bitcoin’s life, writing in 2009 that Bitcoin can scale and “never really hits a scale ceiling.”

Yet despite the clear intent of Bitcoin’s creator to scale the network and establish it as more efficient infrastructure for online payments, the Bitcoin Core protocol developers who assumed control of the Bitcoin project (known under ticker symbol BTC) following Nakamoto’s exit in 2011 effectively crippled the BTC blockchain. They rejected scaling – limiting on-chain capacity to a maximum of 7 transactions per second, driving transaction fees sky-high; so now BTC is promoted as “digital gold” and a “store of value” reserve asset, rather than as the system of peer-to-peer electronic cash for daily use envisioned by Satoshi. The BTC network further strayed with the introduction of Segregated Witness (SegWit), a change which fundamentally altered the network such that it, by definition, can no longer be called Bitcoin; and other features such as replace-by-fee (RBF), a mechanism for replacing one version of an unconfirmed transaction with a different version of the transaction that pays a higher fee.

In 2017, Bitcoin Cash (BCH) emerged supposedly to continue Bitcoin’s vision to be “peer-to-peer electronic cash.” I and others supported BCH for some time, until it became clear BCH protocol developers wanted to again significantly deviate away Satoshi’s design – such as changing the transaction ordering scheme and introducing a new signature technique that can be used to deliberately obfuscate transactions under a misguided notion of “privacy,” despite Bitcoin being designed to be a public, auditable ledger for honest transactions. Furthermore, BCH remains frozen at the same (still rather small) block cap it has had since 2018 and has failed to scale anywhere close to the levels Satoshi Nakamoto envisioned.

That is why Bitcoin SV (Satoshi Vision) emerged in 2018 to ensure the original design for Bitcoin is finally fulfilled. Bitcoin SV has almost entirely restored Satoshi’s Bitcoin protocol, with no default limit on the size of the blocks on its blockchain and thus its transaction capacity. It also restored many of Satoshi’s original technical functions – such as removing artificial limits on the size and capabilities of transactions, and restoring the full original functionality of Bitcoin Script (the programming language used within the Bitcoin protocol). With unbounded scaling, transaction fees remain minimal and predictable – the median transaction fee on the Bitcoin SV network in 2020 was generally less than 1/100 of a U.S. cent. That makes Bitcoin SV a fast and efficient system for electronic cash payments, including for “small casual transactions”, just as Satoshi described in his white paper. While many industry observers view BSV as a fork of BTC and BCH, Craig and others argue BSV is merely the new name and ticker symbol for the original Bitcoin which it alone continues.

So, what do the Bitcoin white paper and copyright law have to do with this?

Craig swears that he is Satoshi Nakamoto, author of the Bitcoin white paper, and owner of its copyright. As such, he is asserting some of the exclusive rights given by copyright ownership, namely that a copyright holder has the exclusive right to control the reproduction and public display of their work.

Craig’s legal demand letters have caused quite a stir, leading to many angry comments on social media. Opponents of Craig’s action think that he is trying to suppress the white paper or inhibit open-source development, but I do not believe that to be the case.

Rather, because BTC and BCH no longer follow the original network protocol or economic incentive model prescribed by Satoshi Nakamoto in the white paper, Craig says that as the copyright holder, he does not want it associated with marketing BTC, BCH or any other digital currency which is not Bitcoin – including on websites such as Bitcoin.org, BitcoinCore.org and Bitcoin.com.

The controversy has also revealed some great ironies in the digital currency space.

BTC supporters are vocally defending the Bitcoin white paper, even though the current maintainer of the Bitcoin.org website (a long time BTC supporter using the pseudonym Cobra Bitcoin) has admitted that Satoshi’s paper no longer describes BTC. As far back as 2016, Cobra wrote “the Bitcoin described in the paper and the Bitcoin BTC described on Bitcoin.org are starting to diverge.” In 2017, he even called the white paper “outdated and incorrect” in its ability to describe BTC, and “At some point, I think the paper will start to do more harm than good, because it will trick people into believing they understand Bitcoin BTC.” Cobra has thus called for updating the white paper to more accurately reflect BTC.

Despite such feelings that Satoshi’s white paper no longer describes BTC, competing Bitcoin camps are attacking Bitcoin SV and its supporters – even going so far as to call for (illegal) 51% attacks against the BSV network – simply because they dislike Craig. So I want to make this abundantly clear: this is one man trying to claim his personal legacy as the creator of Bitcoin. While many of us (me included) certainly have opinions about it, this is a battle for Craig.

As I’ve said before, Bitcoin SV is much bigger than Craig Wright or any one person. Around the world, the Bitcoin SV ecosystem has grown dramatically, with many consumers, developers, start-up ventures, larger businesses, mining groups, service providers, and even a country (the small island nation of Tuvalu in the South Pacific) using or working with Bitcoin SV. We’re seeing powerful blockchain applications built across many industry sectors – fintech, health care, supply chain, RegTech, Internet of Things, social media, online games, esports, and AR/VR. With a big wave of innovation coming and so many people now involved, I am confident that Bitcoin SV will succeed irrespective of whether Craig Wright enforces copyright, wins or loses his legal battles, or convinces people he created Bitcoin.

And that’s exactly the way it should be – focus on the utility of the digital asset and its blockchain technology. Personally, I believe that Craig is Satoshi Nakamoto. But I’ve also repeatedly said that people should support Bitcoin SV because it correctly fulfils Bitcoin’s original vision and because its blockchain simply works (and works the best) – not based upon their belief as to whether or not Craig is Satoshi. With Bitcoin SV, we are building the most transformative data network the world has seen since the introduction of the Internet – and that’s what it’s all about – this is first and foremost about the technology.

While I’m sure many of you will watch the latest round of drama to emerge from the digital asset sphere with interest, for the rest of us across the global Bitcoin SV ecosystem, we’ll continue to work every day to build a bigger vision for the world with Bitcoin.

Source Jimmy Nguyen https://bitcoinassociation.net/bitcoin-white-paper-is-a-personal-legacy-for-one-man-bitcoin-sv-is-a-bigger-vision-for-the-world/

kna

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Check the facts: BSV has been systematically held down by all of the big players in the space.

It’s been delisted, lied about, reported against and dragged through the mud by Silicon Valley venture capitalists.

And it has shorts at all time high.

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9,000 Transactions Per Second: Bitcoin SV hits new record

Bitcoin SV‘s (BSV) Scaling Test Network (STN) hit a new record this week, processing over 9,000 transactions per second at one point on January 26. Its previous record was ~6,500 tps in December 2019. Despite being a testing network, the STN shares most of its technical capabilities with the BSV mainnet—once again disproving the notion that Bitcoin can’t scale on-chain.

To put that into perspective, the BTC network (which many still incorrectly insist on referring to as “Bitcoin”) limits its block sizes to 1-4MB, permitting a maximum 7 transactions per second (it’s more like 3-4). That’s not seven thousand… but seven. No blockchain asset has a hope of gaining use as a world currency, global payment settlement layer or for everyday payments at such a low capacity, and it can cost over $10 or even $20 to send a single BTC transaction of any amount.

How did the Scaling Test Network achieve the new record?

STN Operations Manager Brad Kristensen told CoinGeek that his team thinks over 2,000 tps is sustainable on the STN, going by the data they’ve collected. Just recently they observed an average of around 1.9 ktps (or 1,900 tps) over an eight-hour period. You can monitor STN statistics yourself at this site.

“We have a few ideas on how to increase this further without code changes but will have to wait and see with some more testing,” Kristensen said.

What improvements have been made to the STN since the last record was set? The network is now in its fourth iteration (aka v4, running since November 2020) and is on software version 1.0.7. The previous 6.4 ktps occurred on STN v2.

What improvements have been made to the STN since then to increase the capacity? Kristensen said:

The performance improvements in 1.0.7 played a big role here. The care and dedication from the SV node team is second to none. The improved handling of chained transactions appears to be paying dividends. We still want to play around here a bit more, with the recent increase to support chains of 1,000 by default.

“We have a lot of levels to test to find the optimum throughput, assuming our only goal is chasing peak tps. However, the sustained rate is more important I think and where the real power of BitCoin is. Sustained tps over long periods is where we hope to see continued repeatable gains in the year ahead,” he added.

BSV mainnet also has the capacity

Kristensen added that it was important to remember the BSV mainnet already has the capacity to handle similar transaction volumes, but at present lacks the demand for it. However the goal of the STN has always been to try and reflect the mainnet as close as possible, just at larger scale.

Was there anything special about the transactions during the record peak time this week? Kristensen said it was due to a number of factors:

“They are mostly ‘standard’ transactions, however recent testing has involved using increasing chain lengths. Starting at 2, then 12, moving to 25 and beyond… This means, at chains of 12, if we generate a million UTXOs, each of those million will have 12 children and so on. We are also using the new RPC method further improved with v1.0.7 for handling bulk transactions, a feature miners will no doubt make use of with clients they have direct agreements with, and transactions that enter their networks through Merchant API.”

The goal of the STN has always been to try and reflect mainnet as close as possible, just at larger scale. Keeping that in mind, mainnet already has this capacity, all it lacks is the volume.

With more big data projects coming online in 2021 to test its limits with nanotransactions, and the Bitcoin SV node team is available to assist new projects looking to process large amounts of data on a blockchain that actually scales. The challenge now, Kristensen said, is to attract more enterprise-tier users.

“The STN is our proving ground, we know mainnet could do it, because the STN can. It’s down to the miners to be ready to embrace Bitcoin at enterprise scale when that volume arrives. We hope that the STN not only can show it can be done but also offer guidance if needed to miners coming over from scale challenged chains.”

Source https://bitcoinassociation.net/9000-transactions-per-second-bitcoin-sv-hits-new-record/

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It’s over 9,000 TPS! Bitcoin SV hits new transactions per second record

https://twitter.com/brad1121/status/1353978594821689347

Bitcoin SV‘s (BSV) Scaling Test Network (STN) hit a new record this week, processing over 9,000 transactions per second at one point on January 26. Its previous record was ~6,500 tps in December 2019. Despite being a testing network, the STN shares most of its technical capabilities with the BSV mainnet—once again disproving the notion that Bitcoin can’t scale on-chain.

To put that into perspective, the BTC network (which many still incorrectly insist on referring to as “Bitcoin”) limits its block sizes to 1-4MB, permitting a maximum 7 transactions per second (it’s more like 3-4). That’s not seven thousand… but seven. No blockchain asset has a hope of gaining use as a world currency, global payment settlement layer or for everyday payments at such a low capacity, and it can cost over $10 or even $20 to send a single BTC transaction of any amount.

The record also comes at an interesting time for Bitcoin, as Dr. Craig Wright ramps up legal action against BTC developers and associated projects. Far from attempting to deny the public access to the [ur=https://craigwright.net/bitcoin-white-paper.pdfl]2008 Bitcoin white paper[/url] and its contents (as many have erroneously assumed), one of the motives is to get people to take another look at Satoshi’s original writings about Bitcoin’s true capabilities.

How did the Scaling Test Network achieve the new record?

STN Operations Manager Brad Kristensen told CoinGeek that his team thinks over 2,000 tps is sustainable on the STN, going by the data they’ve collected. Just recently they observed an average of around 1.9 ktps (or 1,900 tps) over an eight-hour period. You can monitor STN statistics yourself at this site.

“We have a few ideas on how to increase this further without code changes but will have to wait and see with some more testing,” Kristensen said.

What improvements have been made to the STN since the last record was set? The network is now in its fourth iteration (aka v4, running since November 2020) and is on software version 1.0.7. The previous 6.4 ktps occurred on STN v2.

What improvements have been made to the STN since then to increase the capacity? Kristensen said:

”The performance improvements in 1.0.7 played a big role here. The care and dedication from the SV node team is second to none. The improved handling of chained transactions appears to be paying dividends. We still want to play around here a bit more, with the recent increase to support chains of 1,000 by default.”

“We have a lot of levels to test to find the optimum throughput, assuming our only goal is chasing peak tps. However, the sustained rate is more important I think and where the real power of BitCoin is. Sustained tps over long periods is where we hope to see continued repeatable gains in the year ahead,” he added.

BSV mainnet also has the capacity

Kristensen added that it was important to remember the BSV mainnet already has the capacity to handle similar transaction volumes, but at present lacks the demand for it. However the goal of the STN has always been to try and reflect the mainnet as close as possible, just at larger scale.

Was there anything special about the transactions during the record peak time this week? Kristensen said it was due to a number of factors:

“They are mostly ‘standard’ transactions, however recent testing has involved using increasing chain lengths. Starting at 2, then 12, moving to 25 and beyond… This means, at chains of 12, if we generate a million UTXOs, each of those million will have 12 children and so on. We are also using the new RPC method further improved with v1.0.7 for handling bulk transactions, a feature miners will no doubt make use of with clients they have direct agreements with, and transactions that enter their networks through Merchant API.”

The goal of the STN has always been to try and reflect mainnet as close as possible, just at larger scale. Keeping that in mind, mainnet already has this capacity, all it lacks is the volume.

With more big data projects coming online in 2021 to test its limits with nanotransactions, and the Bitcoin SV node team is available to assist new projects looking to process large amounts of data on a blockchain that actually scales. The challenge now, Kristensen said, is to attract more enterprise-tier users.

“The STN is our proving ground, we know mainnet could do it, because the STN can. It’s down to the miners to be ready to embrace Bitcoin at enterprise scale when that volume arrives. We hope that the STN not only can show it can be done but also offer guidance if needed to miners coming over from scale challenged chains.”

See also: Steve Shadders presentation at CoinGeek Live, Bitcoin SV Technical Update: Infrastructure for the World Blockchain

https://youtu.be/Wr8nZhC_9WA

Source:
It’s over 9,000 TPS! Bitcoin SV hits new transactions per second record

[url=https://twitter.com/brad1121/status/1353978594821689347]https://twitter.com/brad1121/status/1353978594821689347

Bitcoin SV‘s (BSV) Scaling Test Network (STN) hit a new record this week, processing over 9,000 transactions per second at one point on January 26. Its previous record was ~6,500 tps in December 2019. Despite being a testing network, the STN shares most of its technical capabilities with the BSV mainnet—once again disproving the notion that Bitcoin can’t scale on-chain.

To put that into perspective, the BTC network (which many still incorrectly insist on referring to as “Bitcoin”) limits its block sizes to 1-4MB, permitting a maximum 7 transactions per second (it’s more like 3-4). That’s not seven thousand… but seven. No blockchain asset has a hope of gaining use as a world currency, global payment settlement layer or for everyday payments at such a low capacity, and it can cost over $10 or even $20 to send a single BTC transaction of any amount.

The record also comes at an interesting time for Bitcoin, as Dr. Craig Wright ramps up legal action against BTC developers and associated projects. Far from attempting to deny the public access to the [ur=https://craigwright.net/bitcoin-white-paper.pdfl]2008 Bitcoin white paper[/url] and its contents (as many have erroneously assumed), one of the motives is to get people to take another look at Satoshi’s original writings about Bitcoin’s true capabilities.

How did the Scaling Test Network achieve the new record?

STN Operations Manager Brad Kristensen told CoinGeek that his team thinks over 2,000 tps is sustainable on the STN, going by the data they’ve collected. Just recently they observed an average of around 1.9 ktps (or 1,900 tps) over an eight-hour period. You can monitor STN statistics yourself at this site.

“We have a few ideas on how to increase this further without code changes but will have to wait and see with some more testing,” Kristensen said.

What improvements have been made to the STN since the last record was set? The network is now in its fourth iteration (aka v4, running since November 2020) and is on software version 1.0.7. The previous 6.4 ktps occurred on STN v2.

What improvements have been made to the STN since then to increase the capacity? Kristensen said:

”The performance improvements in 1.0.7 played a big role here. The care and dedication from the SV node team is second to none. The improved handling of chained transactions appears to be paying dividends. We still want to play around here a bit more, with the recent increase to support chains of 1,000 by default.”

“We have a lot of levels to test to find the optimum throughput, assuming our only goal is chasing peak tps. However, the sustained rate is more important I think and where the real power of BitCoin is. Sustained tps over long periods is where we hope to see continued repeatable gains in the year ahead,” he added.

BSV mainnet also has the capacity

Kristensen added that it was important to remember the BSV mainnet already has the capacity to handle similar transaction volumes, but at present lacks the demand for it. However the goal of the STN has always been to try and reflect the mainnet as close as possible, just at larger scale.

Was there anything special about the transactions during the record peak time this week? Kristensen said it was due to a number of factors:

“They are mostly ‘standard’ transactions, however recent testing has involved using increasing chain lengths. Starting at 2, then 12, moving to 25 and beyond… This means, at chains of 12, if we generate a million UTXOs, each of those million will have 12 children and so on. We are also using the new RPC method further improved with v1.0.7 for handling bulk transactions, a feature miners will no doubt make use of with clients they have direct agreements with, and transactions that enter their networks through Merchant API.”

The goal of the STN has always been to try and reflect mainnet as close as possible, just at larger scale. Keeping that in mind, mainnet already has this capacity, all it lacks is the volume.

With more big data projects coming online in 2021 to test its limits with nanotransactions, and the Bitcoin SV node team is available to assist new projects looking to process large amounts of data on a blockchain that actually scales. The challenge now, Kristensen said, is to attract more enterprise-tier users.

“The STN is our proving ground, we know mainnet could do it, because the STN can. It’s down to the miners to be ready to embrace Bitcoin at enterprise scale when that volume arrives. We hope that the STN not only can show it can be done but also offer guidance if needed to miners coming over from scale challenged chains.”

See also: Steve Shadders presentation at CoinGeek Live, Bitcoin SV Technical Update: Infrastructure for the World Blockchain

https://youtu.be/Wr8nZhC_9WA

Source: https://coingeek.com/its-over-9000-tps-bitcoin-sv-hits-new-transactions-per-second-record/ Thanks to Jon Southurst

$romain

newbie

Activity: 4

Merit: 46

✯ ₪ ☄ ₪ ✯

Get your $handle and collect free $BSV every day from generous community member

#freeBSV #freeBitcoin #freecrypto #freecoin $BSV

Search $handle word in the search Twitter engine section recent 😊 Install @handcashapp

Install @handcashapp - https://tpow.app/ca689e1a

BSVfan

newbie

Activity: 2

Merit: 33

Quote

No, the protocol is not locked

Quote

@synfonaut 4 jan.
i’m making this
the stable protocol is too important for there to be any confusion over what should be included
i’ll pay $10 per change that still needs to be reverted/unfucked in BSV
list them below

I didn’t know this, thanks for the explanation @Brendan_Lee__
It would be really helpful to have a list of changes made by BTC/BCH and what still needs to be reverted twitter.com/Brendan_Lee__/…

https://twitter.com/synfonaut/status/1345930291534127104

Recently Brad Jasper aka @synfonaut started a list of all the pending changes needed to truly revert to the original Bitcoin protocol v0.1. Technically the Bitcoin SV protocol is not locked, despite the assertion being repeated ad-nauseam. In this article I will review those pending changes, some detail and history behind them, but why this fact is not something developers should be worried about when it comes to building on BSV.

Difficulty adjustment algorithm

This is the most radical change from Satoshi’s original protocol and the one that has had profound effects on miner incentives since its modification by BCH developer Amaury Sechet in August 2017. I have written about this in the past. On Brad’s repository, Dean Little adds more reasons why it should be reverted (especially now with the ancestor limit raised):

Source: GitHub

SIGHASH_FORKID

The second most impactful deviation is the addition of a FORKID in the sighash algorithm which adds replay protection, ensuring that transactions spent on BCH would not necessarily need to be spent on BTC. This was another French man special that likely has had unforeseen consequences. Adding replay protection could be interpreted as an admission of defeat by BCH at the time. This move allowed transactions to be broadcast selectively on either chain, ensuring a permanent split persisted.

Additionally, if any offline transactions were created with the nLockTime feature prior to August 2017, then those transactions are now un-spendable on the BCH and BSV chains. The implications are quite interesting given a certain Australian’s fascination with nLockTime, offline transactions and trusts.

Opcode changes

Lastly several opcodes are still disabled. The most mysterious of which is OP_VER, whose purpose is still largely unknown. In the slide below Craig Wright presents that it could be leveraged to implement ‘secondary consensus’ rules (custom opcodes?) which is fascinating considering that one of the huge topics of debate was over an opcode (OP_CHECKDATASIG) during the BCH/BSV split may have been totally unnecessary!

Source: @cryptoAcorns photo from CG London 2020

Along with OP_VER, OP_VERIF and OP_VERNOTIF are also going to be re-enabled in the Chronicle update. Two more opcodes, OP_2MUL and OP_2DIV are supposedly going to be re-enabled but are unnecessary as the same functionality can be replicated by using OP_MUL or OP_DIV (multiplication and division) of any value by two (OP_2).

Quote

syn·fo·naut @synfonaut 4 jan
what does it mean for the BSV protocol to be stable?
https://twitter.com/synfonaut/status/1346150883822735361

In conclusion, the above changes will eventually need to be implemented but for the purpose of the ‘set in stone’ narrative, the protocol is just that. My definition mirrors with Elas Digital’s statement below:

Quote

syn·fo·naut @synfonaut Jan 4, 2021
what does it mean for the BSV protocol to be stable?

Elas Digital@ElasDigital
That the network's rules never change in such a way that something I built ceases to function in the way I built it.

https://twitter.com/synfonaut/status/1346150883822735361

Each of the changes I have reviewed may impact different parties in various situations but will not disrupt any businesses being built today in the future. If anything, these restorations can only increase the possibilities of what can be built on Bitcoin, not take away. The future Chronicle update does not yet have a date, but is anticipated to unlock even more potential from Bitcoin.

Source: https://tpow.app/82ddff3d Thanks to Joshua Henslee

Do_zzze

newbie

Activity: 7

Merit: 39

NEW BSV App: NoteSV Storage and synchronisation of encrypted notes and decentralised passwords

With the power of Bitcoin, NoteSV becomes the best software to protect private personal information forever.
The use of the Bitcoin blockchain, which has been working perfectly for 11 years, provides security protection beyond the banking level.
Every recording recorded in Note.SV is encrypted using an asymmetric encryption algorithm with a different elliptic curve, so that no one can take a look at it.
Once written into the blockchain, no one can forge or falsify it except yourself.
Data information is permanently stored on the blockchain and will not be lost due to changes in software developers or servers.

Website password management, supports automatic password generation, and supports two-factor authentication (2FA).
Save personal notes, support adding images. It is suitable for storing banks, credit cards, and all kinds of private information.
The addition, deletion, and modification of data information are all registered, and searching, sorting, and sharing of information is supported.
A variety of recharging methods, micropayments as low as 1 cent when used, no annual monthly fee. Read and write on demand, no worries.

Find out more at https://note.sv/

$romain

newbie

Activity: 4

Merit: 46

✯ ₪ ☄ ₪ ✯

Do you know what the double spending on the BTC crypto that took place on January 21, 2021 at 9:21 p.m. on block 666,333 means?

As they don't know or won't tell you, here is the answer: because RBF allows the attacker who has sybilled a mining node to change transaction at any time as long as the charges are higher. So it's easier to play with timing and create a double expense.

Most importantly, understand that #BTC is broken, can be easily attacked and double expenses repeated.

The well timed attack at 21h21 on the 21st day of the 21st year of the 21st century for a system with 21 million double spending coins, this proves (mathematically) that #BTC is broken. Replacement by Charge (RBF) is broken, and #LightningNetwork is fundamentally broken.

Do_zzze

newbie

Activity: 7

Merit: 39

Quote

Craig Wright on open source and liability

The Bitcoin whitepaper, Dr. Craig S. Wright’s copyright claim to it, as well as his intellectual property have recently fallen onto the radar of many blockchain and digital currency enthusiasts.

In his latest blog post, “Open Source and Liability,” Dr. Wright addressed many of the current events around the Bitcoin whitepaper, enterprises in Silicon Valley that pilot the BTC protocol, copyright, and intellectual property.

The main reason that copyright and intellectual property related controversy around the Bitcoin whitepaper has come to the surface is because corporations and individuals published the Bitcoin whitepaper in an attempt to pass Bitcoin off as a system that it really isn’t (as described in the whitepaper). That being said, anyone can use the whitepaper anywhere they want as long as they are not using it to illegally pass off technology that does not follow the whitepaper as Bitcoin.

“Several individuals in what is termed the ‘cryptocurrency space’ have started to promote a misleading and false premise: that open-source software is necessarily free and comes without copyright,” says Dr. Wright; and this is where corporations and individuals working on open-source software run into another issue.

Just because they are working on something open-source, it does not mean that they aren’t liable for their actions. Dr. Wright goes on to explain the four different types of business structure—individual, associations and partnerships, corporations, as well as trusts and foundations—and talks about how they function and where the liability falls in each structure. He also addresses individuals that operate via the money they received from donations, and how those individuals must register as a charitable donation, otherwise, they must pay tax on the money they receive.

He then goes on to explain how companies located in Silicon Valley have found a way to mitigate operational risks from themselves by open-sourcing projects.

“Twitter, Facebook, Google, and a swathe of other Silicon Valley companies have lowered the production costs faced by their companies, managed to hand risk to third parties, and foregone responsibility, whilst getting uninformed and legally untrained software developers to believe that they were doing good…With systems involving ‘cryptocurrency,’ including BTC Core, the individuals behind the associated website will try to tell you that they are only an open-source group, and hence there is no liability. You cannot simply remove liability from your actions by saying you do not have liability. It does not matter what the website says; if you become part of such a group, you are liable for the actions of the group.”

And this is where the group of developers working on the open-source protocol as well as the corporations that have tried to mitigate their risk run into a big problem. What the corporations are telling the developers that they are building, is not what the product they believe they are building is legally defined as. In other words, the corporations and developers are trying to pass the BTC protocol off as Bitcoin, when BTC has really diverged from the blueprint laid out in the bitcoin whitepaper a long time ago.

“Likewise, actions such as passing a system off as another can leave each of the developers liable for the actions of a few malicious individuals. Ignorance is not a defence…In accordance with the common test provided through Reckitt & Colman Products Ltd v Borden Inc [1990] 1 WLR 491, the development of an alternative system, changing something that was set in stone, and misrepresenting it as the same product is an act of passing off. In the case of BTC Core, you cannot decide that a community now owns a project. I did not ever hand the project over. I explained that the project was based on a protocol that had been set in stone.”

Dr. Wright’s blog post makes it very clear why legal issues are beginning to arise around the Bitcoin whitepaper. You also begin to understand who is at fault and who violated the copyright and intellectual property claims that Dr. Wright has. As he notes, “ignorance is not a defense,” so there are slim chances that the companies and individuals who have violated the law will escape this legal issue unscathed.

To learn more about the implications that working on open source technology has and who the liability will fall on when the shoe drops, head over to [ur=https://craigwright.net/l]CraigWright.net[/url] and read Dr. Craig S. Wright’s latest blog post, “Open Source and Liability.”

Source: https://coingeek.com/craig-wright-on-open-source-and-liability/

kna

newbie

Activity: 13

Merit: 32

Quote

Are you developing your Bitcoin projects and you need resources?

Developer Resources are at your service
Bitcoin SV has a large and growing number of tools to help developers build test, and deploy their applications. Below are some of the tools to get you started.

mAPI
mAPI provides direct interaction with Miners, allowing the user to discover the most competitive personalised transaction fee quotes, for guaranteed mining at a chosen SLA. It provides callback mechanisms to give you realtime updates on transaction status along with Merkle proofs of inclusion in Bitcoin blocks. https://github.com/bitcoin-sv-specs/brfc-merchantapi

SPV Channels
SPV Channels offer encrypted persistent messaging channels between any Bitcoin participants. Seamlessly integrating offline and direct communications to break down the technical barrriers to enabling the direct peer to peer interactions that Satoshi described as fundamental to the operations of the Bitcoin network. https://github.com/bitcoin-sv-specs/brfc-spvchannels

PayMail
PayMail is an identity and service discovery protocol that removes the need to use plain Bitcoin addresses and smooths the path for peers to connect to each other in the Bitcoin space. It uses human-readable names that can be used in exactly the same way as an email addresses to automatically negotiate transactions. https://bsvalias.org/

Libraries
Code libraries that abstract a lower level Bitcoin SV complexity away.
BitSV - Python
Nakasendo SDK - C++
BSV - JS
LiBSV
BitcoinJ - JS
Keyring - JS
Operate

Bitcoin Script
sCrypt

API’s
Application program interfaces to access the blockchain easily.
WhatsOnChain
Mattercloud
GetBlock

Education
Learn about how the blockchain works under the hood.
Bitcoin Wiki
Build on BSV
MoneyButton documentation
BSV DEVS
Metanet Technical Summary

Reading from the Blockchain
Tools for accessing data on the blockchain.
BitDB
Bitsocket
Bitquery
Bitbus
Su
Bitkey
Overpool
Neon Planaria
Grid Planaria
Bitwork
BPU
BOB
Bitpipe

Tokens
Tools to use tokens on the Bitcoin SV blockchain.
Run
Tokenized documentation

Writing to the Blockchain
Tools for putting data on the blockchain.
Meta-Writer
DataPay
Minercraft

Standards
Best practice used in the industry.
Bitcom
BSV alias
Paymail
MoneyButton BIPs

Wallet Integration
Tools to integrate Bitcoin wallets into your app without writing any wallet software.
MoneyButton
HandCash Connect
RelayX

BitcoinWiki
https://wiki.bitcoinsv.io/index.php/Main_Page

Source: https://bitcoinsv.io/professional-engineering/

BSVfan

newbie

Activity: 2

Merit: 33

BSV apps: Major Platform Update for TonicPow

We are proud to announce the launch of a completely rebuilt TonicPow platform full of rich new features, gamified challenges, & lots of new ways to promote your business or earn as a promoter!

Full Announcement: https://tpow.app/b2581fe3

Do_zzze

newbie

Activity: 7

Merit: 39

Quote from: ?? on ??

Bumping this shit-of-a-thread, must be worth something.

Yo hv_, can you please ask Craigy or Calvin - with null due respect - to donate to Wikileaks any BTC they find appropriate, on my behalf for bumping this thread?
The more they donate, the more I bump. If they donate two figures, I'll publish an SV meme calendar. Roll Eyes

And proof of payment please, not yada yada fake casual bullshit.

Hey Princess! You're getting into extortion and blackmail now? Please (again) stop your attempts at intimidation, blackmail and other threats. It is useless. Someone has to tell you (again). You (again) look like a clown 🤡 like a buffoon. This attitude has no place here. Get your head out of your ass!

The only thing you will get here is information a.k.a. "the knowledge". Knowledge has no weight, you can take it with you everywhere, you can understand it, learn it, develop it and share it at any time. Knowledge is a weapon that is capable of bringing peace but also of starting wars, that's why knowledge must be treated with wisdom, respect and humanity.

By these facts, acquiring information, developing one's own knowledge, can lead anyone to rise up on almost any level that will be studied.

Thus, by following the daily missives of this thread (identified at the source) of the BitCoin community members gives the opportunity to understand, learn, evolve and share. Welcome onboard!

Topic: [ANN] [BSV] [Bitcoin SV] Original Satoshi Vision - page 26. (Read 226361 times)