Matthew Zietzke
@MZietzke
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Culture, Story, Economics, and Bitcoin.
Idaho, USA
Joined April 2013
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Simulating Bitcoin: A Miner Problem
Following last week's video, Simulating Bitcoin: A Dicey Endeavor () it's time to add another layer of complexity to the simulation structure.
In this video, you'll learn how to simulate multiple independent miners,
Simulating Bitcoin: A Dicey Endeavor
In this video, you'll get a look into the probabilistic nature of mining, and learn why block find rates are variable, even if the hash power on the network is perfectly constant.
You'll learn about the Difficulty Adjustment Algorithm, and
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I just sent a friend his first $2 worth of BCH... For 0.000003 BCH, which is roughly $0.0054.
THIS is peer to peer. THIS is decentralized.
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@engineers_feed
Line 2: 1 cannot be correct, as being correct would make a contradiction (it cannot be in the 2nd position), and 6 cannot be correct, as we already know in Line 1, 2 is correct and in the right position
Combo: 0 4 2
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A lot of Craig supporters are now saying very dumb things about the judge.
Folks, you wanted a judgement from a judge in a court of law.
Why was that acceptable until you didn't get the outcome you wanted?
Don't be a sore loser.
Assuming Craig actually truly is Satoshi, and
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It's just weather data.
It's just uptime reports.
It's just dice roll games.
It's just pictures.
It's just videos.
It's just NFTs.
It's just the metanet.
It's just 2GB blocks.
It's just $0.0002 transactions.
It's just BSV.
It's just Bitcoin.
It's just everything.
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@TheYcOrg
Your argument depends on a premise that there will be many (you say "thousands") such security companies.
How will the market structure in this "market of protection" be kept from consolidating into only a few large, competitive interests?
It would seem the size of such a
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It's amazing how self destructive the BTC community is... BitPay, malicious? Scammy? Just like Coinbase, right? Any other companies that built bitcoin that y'all would like to attack?
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Denial: BSV is a scam because Craig is a fraud
Anger: BSV is cool, but Craig is a bad influence
Bargaining: I'll use BSV, but only if Craig is forked off
Depression: Why is the only good Bitcoin the one with Craig? This is horrible. It feels like there's no good Bitcoin now.
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@alexforbes__
5-2-1...
One partner pics 5, the other eliminates 3, and the first pics between the final 2.
Next time, swap the order of who picks the 5.
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lol, Cobra is now blocking all BSV folks, claiming it's "now basically irrelevant"...
Meanwhile, we're gaining ground on every front.
What he really wants is to play more of the social game against us.
What a panzy.
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Is anyone surprised by the calls by BTC folks to delist BSV?
The entire hodler mindset is built around the idea that exchanges are the means by which hodlers determine which coin is best.
Their entire ideology is threatened by these events, and none of them have BSV to sell.
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Just sent a buddy $0.10 (USD) worth of Bitcoin Cash for a fee of $0.002, instantly.
He's in Australia, and I'm in the US.
No full node. No addresses. Just used handles with
@handcashapp
Bitcoin is Cash, and Bitcoin Cash is for everyone.
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GorillaPool, Cryptofights, and BBG are doing more to "fix the BSV brand" than any complaining that BSV has a branding issue on Twitter could possibly do.
BSV is an economy, not a business.
Invest in the economy and the brand will fix itself.
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Acceptance:
Craig Wright, for better or worse, is using BSV and that's ok because Bitcoin is for everyone, even my worst enemy. I don't have to think Craig is Satoshi to recognize that BSV is Bitcoin as it was always meant to be, and that is wonderful. Now, let's build something.
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Lol, Craig is back on Twitter.
This is going to be fun to watch.
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@engineers_feed
Line 4: All numbers wrong
Line 5: 7, 8 wrong, so 0 must be right, but in wrong place
Line 3: 0 is right, but in wrong place
Combo: 0 _ _
Line 1: 6 can't be correct, as 0 is in the 1st place, 8 cannot be correct because of Line 4. 2 is correct, and in the right place
Combo: 0 _ 2
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I can't stress enough, the only thing holding BSV back is that we haven't built upon it enough yet.
We need people to build on BSV.
That's the only missing piece of the puzzle at this point.
We need transaction demand.
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It appears
@CoinMarketCap
has set their BSV supply to a static number, while BTC and BCH are set dynamically.
IOW, they deliberately created the supply mismatch problem.
Or more accurately, they hate BSV and are deliberately misleading their users in order to make BSV look bad.
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Running a non-mining, validation only node is like refereeing the super bowl from your couch.
Nobody cares if you call a flag on the play. The game goes on anyways.
#btc
#bitcoin
#bitcoincash
#nodes
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If Craig wants to enforce his "unilateral contract" then he has to prove he is Satoshi in a court of law.
This requires that he present the truth, the whole truth, and nothing but the truth.
The whole truth would include a cryptographic proof.
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If this year in BSV is overwhelmingly about CSW, I'll be disappointed.
BSV is so much bigger than CSW.
Let's demonstrate that.
Build with me, folks.
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Y'all might hate Craig, but when there are folks like this on your side, maybe you should think twice about your own tribal associations...
@PeterMcCormack
@Shoosmiths
Craig's such a loser that he can't even kill himself correctly.
Imagine how much trouble he would have saved us!
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All BSV needs to succeed is adoption
All every other coin needs to fail is adoption
Which coin should you adopt?
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If you support BSV because you think Craig is Satoshi, you're not actually supporting BSV.
Which is a shame, because there are countless reasons to support BSV that have nothing to do with CSW.
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What is wrong with/in BSV?
Honest feedback only, please.
And please, I can look at your profile to easily see what your perspective is, but that's more work for me, so share whether or not you are a BSV supporter in your reply.
Anti-BSVers are welcome to reply.
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By implementing the centralized checkpoint, ABC has not won the war - all they have done is to demonstrate their willingness to compromise on the principles they and everyone else in cryptocurrency claim to hold dear.
I legitimately thought they wouldn't do something like that.
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Apparently the BSV number is going up.
I was having fun being poor.
Wtf am I going to do now?
Oh, right. Keep building.
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Looks like we're running over 200MB average block size.
This time last month we were at ~63MB average block size.
Two months ago, we were at ~13MB average block size.
Do you see it yet?
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At this point, even if Mellor was wrong and Craig really is Satoshi, BSV has fundamentally changed.
The tech is the same, but the culture is irrevocably altered, I believe for the better.
Hero worship is never a good thing.
Let's instead focus on the things that really matter:
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The SEC has approved 11 BTC 2nd layer scaling solutions.
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BSV is more exciting than ever, yet there are people complaining like it's just SO terrible, SO restrictive, SO "centralized"...
Folks, open your eyes.
There is active competition in mining between gorillas and a volcano, GB+ blocks basically daily, and fees are going down.
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It took 3 days of ngu for TAAL to not be majority miner of BSV.
What happens if it keeps going up?
What happens if transaction volume increases, raising fees per block?
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It's undeniable that BSV folks are in a, shall we call it, victorious mood. Many are ready to say "f you!" to anyone who has been against BSV.
I want to take this chance to say, if you want to have an honest conversation about BSV, I'm willing to engage with you.
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Over roughly the past hour, BSV has added over 3GB to the chain from paying transactions.
Miners have earned over 16 BSV from transaction fees, at a rate of roughly 4.25 BSV in subsidy to fees, or 19% of the total reward being comprised of fees at a rate of ~500 sats/KB.
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Recent news for BSV is actually really, really good.
I find it rather interesting that so many apparently pro-BSV accounts are filled with negative sentiments.
Makes one think.
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BSV is breaking through the social narratives against it.
Why?
Apps. Businesses. Work.
When we deliver, we progress.
Keep building, folks.
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Just a reminder:
If Craig wins, hands down, is proven to be Satoshi, etc. it still won't make BSV a success.
Keep building, folks!
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Here it is: Bitcoin's structure of production.
This is the first part of a larger project I'm working on, the next step of which I mention in the legend - Value Flows.
I'll also begin working on an article to accompany this graphic to help explain its use.
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@CobraBitcoin
Little does Cobra know that I run my own node, so BSV is immune to evil miners taking over.
I'm protecting the network, bro. That's how it works, right bro?
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Hey
@BitcoinUnlimit
,
HUGE 35MB block on BSV yesterday, with 109k transactions.
No sweat.
And, nobody noticed, because it's a regular, boring occurrence on BSV.
I was literally just doing one of my periodic data checks and thought of you guys.
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Holy shit.
Someone finally did it.
A wallet with transaction history exporting.
What a goddamned concept.
Big release!🎉
1. Txn history export feature which supports all instrument types and handles fees, and can be used for all reporting requirements, including tax filings
2. Customizable instrument transfer fee
More details are in the link below:
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There are stupid people who support BSV.
That's not an argument against BSV.
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Just spent literally a minute and a half listening to a BTC maxi space.
Had to turn it off.
Pull your neckbeard out of your sweatpants, you ingrates.
Y'all don't know the first thing about what you were given, or how you've destroyed it.
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What happens to demand for BSV as every 100th player in apps like Cryptofights and DuroDogs buys $1-5 worth of BSV to play these games?
It may sound silly, but this is fundamental value, and we're only just now getting started.
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@Bit_Collector
@brian_armstrong
Why? Segwit does less to solve the problem than batching does, and for far more cost in implementation.
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Transaction volume on BSV has nearly doubled in the past month.
Let's say it takes another two months to double again.
~500k transactions/day on BSV by Christmas.
Could be closer to 1 million tx/day at the current rate...
Not that I'm assuming it will hold. Just interesting.
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Is anyone still using Con Market Cap?
If you are, jump over to for a very similar, but honest experience.
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I just want to remind the small blockers that "all the experts agree(d)" on Covid, too.
Masks, the vaccine, social distancing, lockdowns...
So when "all the experts agree" just be careful to recognize how little strength that particular appeal to popularity lends your argument.
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BTC is actively fracturing.
No L2 can solve the problems BTC caused for itself.
Multiple L2s make it worse.
When will people start thinking ahead?
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Simulating Bitcoin: A Dicey Endeavor
In this video, you'll get a look into the probabilistic nature of mining, and learn why block find rates are variable, even if the hash power on the network is perfectly constant.
You'll learn about the Difficulty Adjustment Algorithm, and
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Since BSV pumped and I have had fun staying poor, it's too expensive for me to buy now.
How do you earn BSV?
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So far it certainly looks like BSV is a better store of value than BTC.
Just saying.
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Since it looks like everyone in crypto is actively becoming poor, why not join those on the chain who know how to have fun while being poor?
BSV has room for you, and the fees won't rise just because of rapid price movements.
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So apparently SOL went down again.
When Solana fails, it is a cascading failure that takes down the whole system.
It is brittle.
And that brittleness is an obvious and easy attack vector because it publishes which Validator(s) to attack, and when, to start a cascading failure.
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Remember when BCH forked to get CSW off their network because CSW is a "bad actor" and nChain was trying to take over the network?
Yeah... About that...
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BSV is the only one that can handle it all.
If at any time BSV blocks get "full" it will be cause for miners to reinvest increased profits into higher scaling potential.
Only BSV has the economic model for that, and the technical design to make it possible.
Ethereum blocks will be full.
Solana blocks will be full.
Arbitrum blocks will be full.
Optimism blocks will be full.
Polygon blocks willl be full.
Starknet blocks will be full.
No project is even remotely close to have the throughput needed to serve the world.
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if u relly wanna talk 420.πD chess
COPA trial starts Feb 5, will last how long? 1-2 months?
BSV pump starting
BTC halving expected April 17
wat else bros
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Adam Back has officially blocked me.
I've appreciated the plethora of opportunities he's given me to counter the small blocker narratives he peddles.
I've especially appreciated the opportunities he's given me to point out when he's being a liar and a manipulator.
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Over 17 transactions per second on BSV in the past 24 hours.
This is just the beginning.
Buckle your seatbelts, boys.
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I have never felt more sure of BSV's success than now.
It'll take some time still, I think, but I'm certain we'll win.
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Effort + Cost to build on non-BSV platforms is growing.
Effort + Cost to build on BSV is going down.
Capabilities on BSV are both growing and becoming more widely understood.
If these trends continue, BSV wins. Slowly, then all of a sudden.
Keep building, folks.
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Average transaction fees are going down on BSV, even as volume goes up.
Expect more of this, especially as more applications come online on BSV, the only chain that scales.
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Lightning isn't a solution without unlimited block size, and if you have unlimited block size, you don't need Lightning.
@BTCsessions
@TeslaGong
@wintonARK
Achieving truly decentralized finance – power to the people – is a noble & important goal.
Layer count depends on projected bandwidth & compute, both rising rapidly, which means single layer network can carry all human transactions in future imo.
For now, Lightning is needed.
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Things I don't care about:
1) Craig Wright
2) Price in a low information, inflation driven speculative market
Things I care about:
1) Bitcoin, in its original design
2) Truth
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There have been 13 blocks >1GB in size on BSV over the past 24 hours.
That is 13 out of 143 blocks, or ~9% of blocks produced being greater than 1GB in size.
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2.2 million transactions in the past 24 hours on BSV right now.
Cool.
Let's keep going.
24tps is pissant.
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I believe today's expert witness cross examination more or less lost the case for COPA today.
They'd have to somehow rescue Madden's testimony, and/or rely entirely on other expert witness testimony (still to be cross examined, as I understand it,) to achieve their burden of
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BSV is now averaging over 10% of the mining reward coming from fees.
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Say or believe what you will about Craig, obviously the recent release of more Satoshi emails would not have happened without Craig's lawsuits.
That this release obviously damages the small blocker ideology is strong evidence that it would never have been released otherwise.
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The funniest thing about the "passing off" lawsuit to me is that you can tell BTC isn't Bitcoin just by comparing it to the original design.
BTC is a chain castrated by foolish tinkerers and their manipulated followers.
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I don't care about whether or not exchanges support BSV.
Exchanges are not economic producers in any way. They merely facilitate exchange between disparate economies.
If BSV is going to win, it requires the development of its economy.
Create ways for people to earn BSV.
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This seems like a fantastic time to tokenize BTC into BSV, and replay every BTC transaction into that token chain.
It'd fill on average ~1% of BSV's blocks to keep up with BTC, and data since the BCH split (last shared blocks between BTC/BSV,) would be ~83.4GB, costing ~834 BSV.
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I think it's very telling that both Peter and Shinobi are having technical difficulties.
Are they trying to route a lightning payment or something?
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The reason why BTC Maxis are so disturbed right now is because it's the first time their theories have ever actually been tested, and it turns out, they have actually been wrong for years and they just never thought past the most superficial aspects of their ideology.
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Does anyone actually have any serious criticisms of BSV?
All I've ever encountered is the thoroughly debunked "it's centralized" BS because of "muh node", and people who think that attacking Craig is an attack on BSV.
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So, it looks like someone spent thousands of dollars worth of electricity a few times to create short term reorgs of BSV's chain including double-spends of what appears to be their own coins.
Then the honest chain caught up and surpassed them every time, as happens in Bitcoin.
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BTC Maxis are strangely obsessed with sharing price charts of BSV, as if giving evidence that BSV is highly undervalued somehow makes BSV look like a bad investment.
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When you're so afraid of Bitcoin that you think orphaned blocks are a bad thing, and you have to come up with a new name for it to make it seem scarier to others, too...
Bitcoin SV had a non-consensus chainsplit today, of length two
It occurred from 14:36 UTC to 14:51 UTC
See for all the details:
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WOAH, I just realized something SO STRANGE.
LND nodes aren't syncing with BTC's chain right now, but the miners literally don't give a shit, and it's LND node operators who are having to change, not miners.
It's almost like nodes don't matter!
But that's impossible!!
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I have a problem, you guys.
I'm a major BSV supporter but I don't care about Craig Wright.
The trolls really hate that about me, and obviously I'm an outcast in the BSV community because, like, obviously.
Whatsoever shall I doooo?
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I'd be willing to bet we're only 2 more decent sized apps (MetaID/Cryptofights size) away from properly beginning the cascade in BSV's favor.
Not only will we double blockchain usage, but each app will reinforce the usefulness of each other.
Real network effects will begin.
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This is why Bitcoin must be Cash... Because it should be for everyone. Bitcoin Cash is for everyone.
Another incredible story from Venezuela, where a girl managed to earn enough $BCH equal to a year's wages by posting content (in just her first 3 articles) on . You think micro trnxs & $2 fees are not a big deal? Wake up!
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@btcSalvation
To be fair, there are very few random people on the internet who understand Bitcoin.
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@CryptoW0rld
@todu77
@vinnievdn
@rogerkver
Go ahead and use LTC if you'd like... But be aware that there's been little to no actual progress made on LTC for the entire time it's been out. Bitcoin Cash, on the other hand, is seeing active, purposeful, distributed, and *good* development and investment in the system.
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76 of the last 149 blocks (24 hours) on BSV were larger than 10MB in size.
Of those, 5 were greater than 100MB in size.
Gigamegs are on the way.
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So at this point, Craig has had multiple people testifying under oath that they believe, with specific testimony about their personal knowledge and history with Craig, that Craig is Satoshi.
They've also testified that Craig is extremely well credentialed.
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So far this week...
Someone spent tens to hundreds of thousands of dollars on an attack against BSV for no chance of gaining revenue. It's just an attempt to create narratives and stop exchanges from trading it.
And still, BSV is moving forward with big blocks.
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