Bitcoin censorship for Russian addresses? - page 3.

AB de Royse777

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Quote from: LoyceV on February 26, 2022, 09:22:41 AM

There's a more fundamental problem with this: governments long wanted control over Bitcoin. If they manage to force miners to do what they want, Bitcoin is basically over.

Haven't they done everything they could in the last over 10 years? Bitcoin is going nowhere, not in the near future. In fact bitcoin is the solution for the new economy which many government do not want at all especially the US. These centralized exchanges are playing a key role for government censorship. Bitcoin community needs to do something to eliminate these centralized exchanges to enjoy the true bitcoin experience.

Quote from: nosferatu8701 on February 26, 2022, 08:59:09 AM

Apologies if my questions are too basic. If there are reading materials that explain in detail how the Bitcoin network works relating to some of the questions I posted above, I'd appreciate it if you can point me in that direction.

LoyceV already said what I was planning to write. Just a little suggestions - if you have bitcoin then don't keep them in an exchange. Move them to your own wallet.

LoyceV

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Quote from: nosferatu8701 on February 26, 2022, 08:59:09 AM

How do transactions get included in a block?
Are miners responsible for deciding which transactions are included in a block? I thought miners work towards finding the solution for the block.

Miners maximize their income, so they pick the transactions with the highest fee (per (v)byte).

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If so, the block must be already created ? Who created this block ?

Miners create the blocks.

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When I send a bitcoin transaction, does it get sent to a miner ? How does my client (such as electrum) know whom to send the transaction to?

The keyword is "mempool". All transactions are shared with all miners, but miners are free to pick them as they please.

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What other parameters are taken into consideration while including a transaction into a block for eg. Fee? If so, is it possible that Russian bitcoin addresses can give an incredibly large fee to incentivise miners to include the transaction?

There are no "Russian Bitcoin addresses". Bitcoin doesn't have a nationality. But yes, anyone can pay a higher fee to get miner's priority.

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How would the government know that a USA miner would pick up the block which contains a russian address transaction? What if the block is won by someone in Australia? Can Russia mine their own blocks and add to the Bitcoin network?

Many miners are anonymous, and generally miners are quite mobile: if China bans them, they take their hardware and move elsewhere.

There's a more fundamental problem with this: governments long wanted control over Bitcoin. If they manage to force miners to do what they want, Bitcoin is basically over.

nosferatu8701

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I read this article today that talks about the possibility of bitcoin censorship.

Post this, I had some fundamental questions regarding how the bitcoin network works. Would appreciate if someone could help me understand this.

As per this article: https://tftc.io/martys-bent/issue-1170,

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If Russians are able to get transactions included in blocks alongside individuals from countries who are still connected to SWIFT, it sort of makes the chord cutting mute. In an attempt to prevent this from happening it is totally possible that the US government and other NATO governments would try to thrust regulations on the mining industry to keep a blacklist of Russian bitcoin addresses at all times and never mine a block with a transaction that is sent from any of those addresses lest they want to be subjected to harsh punishments for violating sanctions. Worse yet, they could even try to force a whitelist of approved addresses tied to the identities of individuals and make it so mining pools are only allowed to interact with those addresses.

Questions:

How do transactions get included in a block?
Are miners responsible for deciding which transactions are included in a block? I thought miners work towards finding the solution for the block.
If so, the block must be already created ? Who created this block ?
When I send a bitcoin transaction, does it get sent to a miner ? How does my client (such as electrum) know whom to send the transaction to?
What other parameters are taken into consideration while including a transaction into a block for eg. Fee? If so, is it possible that Russian bitcoin addresses can give an incredibly large fee to incentivise miners to include the transaction?
How would the government know that a USA miner would pick up the block which contains a russian address transaction? What if the block is won by someone in Australia? Can Russia mine their own blocks and add to the Bitcoin network?

Apologies if my questions are too basic. If there are reading materials that explain in detail how the Bitcoin network works relating to some of the questions I posted above, I'd appreciate it if you can point me in that direction.

Topic: Bitcoin censorship for Russian addresses? - page 3. (Read 543 times)