/biz/ - Business & Finance

>>11787342

I'm not going to explain that to you right at the moment. I'm going to say that... any recognize what that is? That's a Wolfram 110. Anyone know what a Wolfram 110 is? It's the simplest Turing-complete system. That's in Bitcoin. It was running until a few months ago. We had PSOs in Bitcoin, running. Unfortunately they starved to death---fees.

So we had the first self-evolving in Bitcoin, that ran for two years. There are people that know about these now; that's why I'm mentioning them. They've been discovered. It's not just me. They're dead! Because they can't afford the fees. And I'm not going to fund a thing requires $3.00 every bloody block to keep running, it becomes expensive very quickly. When it's low fees, all sort of things can run. So, these are there.

IP to IP transactions. Does no one look at the old code any more? We keep saying, "this is not meant to be there." The market database in Bitcoin allowed IP to IP transactions. There was a reason for these. The whole idea is to have a merchant-type solution. I should be able to go up and just tap something, and I don't even give a shit whether my transaction has settled properly. All I care about is going up to the merchant, and the merchant will propagate my transaction.

Why will the merchant propagate my transaction? Because they want to get paid. Merchants are not going to sit there and go, "well, maybe at the end of the month I'll run all this shit." They won't, because you will double spend. Merchants have the incentive to ensure that zero-conf works right now. Why? Because they want to be paid!

It's very simple. Economics makes this work. It is not security toys. It is not any of these little fluffy bits of crap that we say are really security the network.