Topic: The Perfect Bitcoin (Read 581 times)

Satoshi does not have that power anymore, even if he cameback and remained anonymous but could prove he was the owner of the coins we think belong to him he will just be another person making recommendation to the code.

Since he is satoshi his words will have a lot of weight with the community but for the devs unless they can see the supposed improvements in terms of code they will skeptic about making any kind of change to bitcoin, bitcoin is no longer a small project that you can change at will, bitcoin is now worth a fortune which means that updates need to be very well analized in order to not break all of what has been built above it.

If I were Satoshi, I will make BTC supply unlimited.
I will reduce transaction fees.
I will incorporate PoS in BTC design.
I will make BTC easily minable
I will design BTC to reduce the energy required to mine BTC.

What kind of perfect Bitcoin did you mean and want to be?
Satoshi will not change anything.
And if I were Satoshi, I will not change anything on Bitcoin because I have said it about Bitcoin and would never say different right now and in the future. Because I believe that Satoshi is not the kind of person who is fickle and takes back on their own words.

Perfect on the sense on where it can really make the job done but we cant deny about scalability issues that we are facing on it even though its only temporal when there sudden influx of transactions but it would be good if this one would be solved out and the rest is already perfect and theres
nothing to be changed on.

I would lessen the time for the coins to confirm.  If possible making it an instant confirmation of transaction without compromising security.  I would also choose the path of lesser energy usage than what it is consuming right now.  The blockchain transparency is fine with me, no need to change that into a privacy coin.

I think he will continue to improve on its features, plus add new ones to secure and have it do more useful things better. I doubt he will allow its strong ideals be compromised while trying to get it work better unless he has forgotten why Bitcoin was created in the first place or he's no longer threatened by the badly run traditional financial systems.

I think one of the most important problems of Bitcoin is scalability. Bitcoin's system can't handle over a certain limit of transactions. I think that Bitcoin will be near perfect if he/she manages to solve this.

Bitcoin is perfect and there is nothing Satoshi need to change now. The only thing we need to change is our approach towards BTC. We should start taking it as a payment system rather taking him as an asset of investment.

even though satoshi showed the bridge of his nose, and has been recognized by the public, I don't think satoshi has ever changed the existing bitcoin system, because according to everyone's analysis, bitcoin is now categorized as perfect.. surely bitcoin prices will return to stable as before..

There have been many hard fork and soft fork already conducted to make changes in the Bitcoin by the developers so as to adjust the flaws for more security so that's why there is no need for Sathoshi because he made it open source decentalized currency to operated by all not him only.If he would have made his mind to make any changes he would have already declared them from some other Indentity to the developers like in the past as believed by many he want to build completely anonymous currency and he developed Monero for that purpose and declared its whitepaper.So if he has any plans he would have done it but btc at current is perfect in almost terms.

What about the transaction charges bitcoin has now, wouldn't it be changed, the rich are the ones getting bitcoin now because they can afford to lay for the high fee, won't Satoshi wants it to be used by everyone both rich and poor, I think if he/she/they want to change anything, it should be the charges, what do you think.

I think we are meant to read before posting anything to the forum, i tried reading this text severally for me to comprehend the body sentence but i couldn't understand any, i think this part of lines of sentence have to be edit, so that it will enable user to capture the area you're emphasising, is not that I'm correcting, but it's the little impression i really want to put in order, please do not take it as a criticism rather to accept the little corrections.

Satoshi Nakamoto really introduce thing that can not depart from us till infinity, his legacy towards cryptocurrency will remain, irrespective that so many people is against the development of crypto nowdays, i think from the year Bitcoin is been introduced to the nation it has been rendering a positive impact to countries that adopt it immensely.

I can understand why a lot of people want their Bitcoin fast -- hence BCH and all those ugly halfspawn. But why on earth expand the supply by almost 80%? That part I don't get. Fixed rate transactions? Sequential? Interest rate?

Man you really have not paid attention to the altcoin space and what they've been attempting (and failing) all this while to fix in terms of tokenomics huh.

Dorian Nakamoto is not Satoshi. Pic is misleading.

I don't think that bitcoin is perfect, due to the fact that there are still many shortcomings that exist in bitcoin, but what makes bitcoin interesting is the new technology it uses so many of the smart people, companies, entrepreneurs want to combine their industry with existing technologies like bitcoin. It looks like perfect.

Yep, POS will make bitcoin perfect, in hell.

POS is "Oligarchy" rule by the rich elite

POW is "Rule by the Masses", the Oligarchy hates this form of gov the worse,

But don't worry cuz the POS always win, they own the forums, the YT feeds, the influencers and the  GOV ( IRS, FBI ...)

At present, bitcoin is not perfect, and the consumption of resources in the process of mining and people's strangeness and disapproval of bitcoin are also a problem.

In fact, there is no absolute perfect thing in the world. If there are advantages, there will be disadvantages. We can only pursue the advantages and avoid the disadvantages as far as possible to achieve the maximum interests.

Looks like Bitcoin Eco is going to unburden the Bitcoin Core Devs by solving the problems for them. POS 3.0 and lighting fast. Thank you for sharing the link about the Bitcoin fees. Had no clue 

There is a tendency to think that the bitoin is not perfect, is there something similar to perfection? if there is mention it. Because even atomic clocks are delayed a few seconds every million years.

The point is that perfection is in the result of its use, that adjective is very similar in the result of conceiving something from that point of view to ART, art is in the eyes of those who look at it, other eyes do not see it, the Art.

So, the perfect bitcoin is as it is, today it works for me, it is perfect for my transactions for my investments, every so often developers and enthusiasts add technically "Forks" and others add the term scalability, without a doubt they looking for the perpetual perfection that never comes for some, but that exists in the present fortunately for many.

Thank you Satoshi for your perfect bitcoin and if it could be you for a second I would not change anything, for everything else it is open source.

This is Exactly what i was looking for. BRAVO. Nailed it!!!

Nothing is perfect in this world, even fiat money that has been used by the general public cannot be said to be perfect, especially bitcoin which has many obstacles such as energy, I just hope bitcoin will be much better in the future, and the price will be more expensive. stabilize again. .

I think Bitcoin is perfect, it has its own special attributes. And there is a perfect development mechanism, and there are more people to support him.

Why would SatoshiNAkamoto care one iota about fee's, and congestion. The experiment is/was a success, the 'digitization of wealth' is now universally accepted, now time to slip & replace the USA/CHINA NWO Crypto aka SDR-COIN, or FED-COIN, call it what you want.

1997 BIS/IMF jointly publish original bitcoin white-paper

2009 NSA release bitcoin source

2021 Bitcoin crashes, destroying $1.2Trillion USD of wealth; hacking slowly zeros the wealth of all HODL'ers

2022 NWO bans non-UN approved crypto

The perfect bitcoin? The bitcoin core dev group owned by WSJ banks and DC-GOV never even tried to build the 'perfect bitcoin'

I think satoshi will probably focus on network congestion and transaction fees if satoshi is still here because in my opinion, this two are the biggest problem for the circulation of the economy.

I also hope Satoshi Nakamoto is well, most likely he won't change anything. Because Bitcoin with all its shortcomings can be useful for the lives of
many people, surely Satoshi Nakamoto is very happy with what Bitcoin has now achieved. Satoshi Nakamoto is one of the most successful with his
creation, without being identified, he can live freely without government interference.

We can't deny the fact that more adoption causes higher fees in every transactions. These fees is already part of bitcoin and to really gained profit we need to master how to trade and make the most out of it so if there are fees it can be unnoticeable due to profit we can somehow gets.

In my eyes, Bitcoin is also perfect. He is perfect because he has his own unique attributes, which guarantees his vitality. Then there are many people who have a consensus firmly believe in Bitcoin and support Bitcoin. Bitcoin has its own strong support and backing.

Proof of Snake ( oligarchs wet dream ) is proof right there that this 'concern troll' is working for 'them'

[ Remember here noobs, what POS, they call 'proof of stake', I call proof-of-snake means is that only WHALES get to decide bitcoin future, it means the little guy is silenced forever, it means that once one whale with +51% takes over bitcoin, that its his forever, essentially a coup. This defy's all of the orginal NakaomotSAtoshi(NSA) mythology of btc being 'every little guys bank' POS is just same-same as we have now, another FED-RES bank, where whales oversee bitcoin. F**K POS. ]


Proof of Work, works, 21M coins works, actually as a store of value, not for shopping BTC is fine right now.

Contracts? Well the 'lisp' model on CHIA would be nice, and remember if you want bytes on the block-chain U must pay for the space, so it really there problem

Interest rate? I think this bot, messed up here

Fee's destroyed? Well obviously our POS doesn't want our miners ( the builder of blockchain consensus ) to make anything for running full-nodes and miners

Actually BTC IMHO only has one serious problem, the crypto is old an Obsolete, need sha512 for hash, and secp512k1 for keys, so it can't be broken another 20+ years. WRT to the blockchain size, who cares if CHIA can do 14EB and double per week, then a blockchain can do 1TB ( now what 400gb? )

For a long-term store of value, BTC must make the crypto more secure before all is stolen. I personally believe that DEV (NSA) wants BTC to revert to zero, which is why they sit on their arse. Maybe this is the play all along for FED-COIN, BTC was the trojan horse, it fails and uncle-scam slides in FED-COIN as savior?

Lastly,PRIVACY, PRIVACY, PRIVACY; for BTC 3.0 we need to have z-snark, or some means to have private transactions, this is the major failing of bitcoin right now that people who want privacy must use monero, or zcash clones; why in the hell does BTC-DEV-CORE drag their arse on privacy, oh that's right KYC big-banks own the core, ok so its time for another BITCOIN fork.

Nakamoto already achieved what he wanted to do with his bitcoin. We cant actually change bitcoin today, thus altcoins was created to compensate all the bitcoin's lack characteristics. That blockchain system associated with it definitely is an advantage. Though, I admit that some flaws like high fees should be change.

 I believe Nakamoto is now content with the size of the bitcoin network he has constructed. Also, there is no such thing as perfection in this world, and even if Satoshi adds or changes something in bitcoin's characteristics, it will never be flawless. Because there are no flawless things in this world, there will always be a problem with bitcoin's security, privacy, gas fee, and so on.

Why do you think there can be a "Perfect Bitcoin". And that would come from alterations by Satoshi. Bitcoin has gone hundreds of alterations since beginning and continues to do so.

As Bitcoiners, we are accustomed to this sort of concern-trolling. People who aren't actually interested in learning about Bitcoin but just want to ask rhetorical questions. You guys fail to take into account the countless examples of centralized shitcoins that are nowhere near being trustless and censorship resistance.
Tell me what "whitepaper" you've read that makes you confident to post these presumptuous questions? (I can see you made multiple posts with one about blocktime and difficulty adjustment). We can take it from there, if you want to.

One thing I am certain of, is that the man who invented Bitcoin as a reaction to the monetary collapse of 2008 and shameless bailouts, would instantly recognize the bag-holders of "corporation" and "foundation" coins that are so eager to masquerade as supporters of financial sovereignty.

Bitcoin is quite revolutionary but just like any man-made invention there is nothing that is really perfect especially in the light of the present circumstances we are in. I am more focusing on the energy requirement for mining Bitcoin which is we know can be so huge that many people are questioning its viability and contribution to environmental degradation. I know that compared to other industries, Bitcoin is not actually that bad but then again it can be better if a different technology can be utilized by Bitcoin in mining so that power requirement can be lessened dramatically.

Users can move their coins between exchanges, just as many bitcoiners have said miners can move between pools.
Note only 4 pool control over 51% of bitcoin hashrate, a little collusion and the ultimate double spend occurs.

No worries , Bitcoin Devs will never improve bitcoin , because it would hurt their profit margins from forcing users offchain.
https://www.trustnodes.com/2017/10/26/blockstreams-business-plan-revealed-profit-transaction-fees

The OP's question was asked as a hypothetical.

I'm sure if he's alive and a person, he wouldn't change much of what's actually going on, except would be proud and glad of what he has done and how his project became one of the most successful project of the world in his history. If he is aware of this movement, I'm sure in night he sleeps at peace knowing how much power he has brought back to the hand of people snatching it away from the government and evil who took it from us!

What you want for Bitcoin simply has so many flaws that I don't even know where to start. Even the proof of stake part itself is exceptionally bad for Bitcoin; imagine how much power exchanges would have over the network if Bitcoin was PoS.

My Perfect Bitcoin
Proof of Stake with a 30 second block speed
~37 billion coins
All Transactions at a fixed rate
All Transactions Processed Sequentially
An extremely low interest rate 5% or lower 
All Transaction fees destroyed to offset new coins created.
No smart contracts feature to avoid blockchain bloat
 

We'll never know. What I'm kinda sure of is that Satoshi seemed a reasonable person/people who enjoyed discussing ideas with others. He/She/They would probably openly take suggestions and even criticisms from credible individuals and objectively respond to it. So if there is anything Satoshi would change about Bitcoin today, I'm more than sure it is always for the improvement of the creation and the end-users. Anyway, I don't think there'd ever be a state of a fully perfect Bitcoin. Everything keeps on rolling. Developments are always happening one after another.  

A self adjusting block size based on the number of transactions (with payment) could have been better. Satoshi knew about the energy usage and limited block size, and yet still kept these in. These will prevent bitcoin from being established as a daily 'currency', despite having incredible computing power behind it. They push it towards a unit of large value though with slower growth, so that may have been the point.

The mining reward stopping in 2140 may kill off bitcoin at that time. I would change the mining reward to continue forever, although decreasing at a different rate after 2140.

It was the first and had yet to be established as a viable method, so there would be improvements to be made.

Brilliant.I forget this concept. Indeed was intended to be governed by decentralized consensus. Growing up in the centralized world it is hard to break the concept of decentralized community driven. Thank you for reminding me of this important fact.

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Very good point. Thank you for sharing this concept with me.

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Personally, the challenge that Bitcoin currently faces is actually derived from Ethereum. If Satoshi Nakamoto was a real person rather than a robot that traveled from the future. He may not have thought that there are countless public chains appearing on the market now, such as ETH and BSC, whose functionality has far exceeded the BTC chain. If I were Satoshi Nakamoto, it might be a better solution to study a method to connect various public chains together in a decentralized way.

Bravo. Very well put. Thank you for your reply and insight.

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That is really good concept. Think about a Craftsman that builds a Wooden chair. I am sure their first chair built was not even close to as stable as the 100th. Seeing what Bitcoin has become. Wonder if his vision has changed

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Love your insight. Thank you for sharing this.

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Nothing. Because Satoshi created a currency to be ran by the community, not solely by him. He/she/they definitely knows that what Bitcoin should be is what consensus thinks it should be.

Forget scalability since fungibility definately has priority。

I doubt he would feel pity that bitcoin growing too fast that the fungibility update might never have a chance to be applied on bitcoin in the future.

Yeah, probably scalability will be one area that Satoshi are going to improved because he didn't see that his invention will grow so big like this. But the good thing is that there are devs who contributed to the bitcoin core so I would say that we are in good hands.

LN is one solution to help mitigate the problems of scalability, although that yet wildly adopted, but for sure Satoshi will go and focus if he want's a "perfect bitcoin".

Bitcoin is created the way it is. It is open-source so everyone can contribute to Bitcoin, even you are Satoshi or not.
For me, Bitcoin is already perfect me.
Speaking of the scalability that most people talking about, which is the problem of Bitcoin now. There is already a lightning network built on top of the Bitcoin network, so no need to change Bitcoin at all.

call it curiosity.My query is your thoughts on the Perfect Bitcoin. I am certain Satoshi would have some alterations . Would have some tweek or adjustment . Being the first has its downfalls. You become the example of what to do and what not to. Be  Satoshi for a bit if you can spare the time. Ask yourself what is the Perfect Bitcoin?

I enjoy your perspective. If you could re-write Bitcoin. How would you define the perfect Bitcoin. This is thought experiment . I know what Satoshi  has said. I am curious.Be  Satoshi for a couple minutes if you have the time? 

The fact that it has been 10 years already and we have no single clue who he/they were is a sign that they wouldn't be seen nowadays. And I don't think they will still going to show in another coming years like 20 years or so. They choose to stay hidden after all of this that happen to crypto community.

I don't know why you want Bitcoin to change so much but let's just accept what Satoshi offered by his knowledge that we are using today.

I am aware of who Dorian Nakamoto is. I enjoy GIFs sorry What i am asking is hypothetically. I want you to be Satoshi theoretically . What would you change to make the Perfect Bitcoin? This is a thought experiment. sorry if it was not clear. Going to edit post .

First of all that's Dorian Nakamoto. We really don't know what he/she/they looks like.

Second, I don't think that Satoshi will change anything on his invention, let me quote him

What if satoshi nakamoto looks at Bitcoin today. What would he or she change? Why? The making of a perfect Bitcoin?


I need to clarify. This is a hypothetical query. Please put your satoshi hat on. Tell me what you think satoshi would change and why?