/biz/ - Business & Finance

the very fact that this scam calls itself bitcoin anything reeks of the likes of cheap chinese fake sneakers

>>16352983
Read the white paper.

>>16353029
>muh whitepaper

>>16352971
and now that you removed your dos protection and have no deep reorg protection any miner with 2% of btc hashrate can spam you to shits and or catastrophically reorg also for free. forcing other miners to leave your embarrassment of a chain.

GOOD JOB!

>>16352971
faggot
hurrdurr roger ver so rich from shilling BCH as "the real bitcoin" lemme just copy that dumbfuck to get rich too
BTC is and always will be bitcoin try and cope BSV faggot

>>16353067

Imagine thinking ponzi math has value

>>16353065
Pure cope fantasy. Spamming the chain only enrich the miners.

Try it!

>>16353146
no it doesn't if you understood anything about bitcoin and read my post you would understand.
the attacking miner can include any tx for free or even if you make a fork forbidding that he pays to himself.

>>16353215
>the attacking miner can include any tx for free
So why don't anyone do it? What would they achieve by doing it? Why would it be an attack? What harm will it do?

DOUBLE DIGIT SHITCOIN
say it with me
DOUBLE DIGIT SHITCOIN
louder guys
DOUBLE DIGIT SHITCOIN
and now only the pajeets
1200 EOY
and now the women and fags only
STIFF STIFF, get stiffed

>>16353236
>So why don't anyone do it?
either no miner is spiteful enough or they wait for the perfect timing to cause maximum damage. which would be when nchain announces that protocol is finally "locked in" and from then on they only build on it. that's when you force them to hardfork to show what an absolute shitcoin they made. that's possibly what i would do if i had a few % of bitcoin hashrate.

Imagine being a poo

>>16353250
>either no miner is spiteful enough or they wait for the perfect timing to cause maximum damage
What will happen when they do? What would they achieve by doing it? Why would it be an attack? What harm will it do?

>>16352983
>What is forking the ledger

>>16353100
Checked

>>16353052
>muh "bitcoin is whatever i say it is"

>>16353287
What is this pic from?

>>16353296
visual representation of the BSV blockchain

just kidding, it's Okaar from the 1999 game Outcast

I have a lot of link, should I actually buy this, I am actually considering it

>>16353274
>Can't read

>>16353274
>What harm will it do?
sorry i got a power outage... so basically 99.99% of the nodes will be forced offline (ie crash) after the first block or the first 10 or so, after a few days everyone will give up on the bloated chain, that is now a few terabyte big full of junk and is not profitable for any miner.

the attacker would of course short bsv and long btc (an object lesson like this will appreciate btc for sure).

>>16353322
also worth noting that if bsv price would magically not fall the attacker would be able to cover his costs from the mined coins after most miners capitulated easily, if it falls he is hedged with a short.

>>16353322
>so basically 99.99% of the nodes will be forced offline
Why? The miners on BitCoin expect large blocks and have equipment to handle it

>terabyte big full of junk and is not profitable for any miner
How do already mined blocks affect the profitability of mining a new block?

>>16353322
>>16353359
This is honestly so pathetic. Armchair speculating about an attack that has never happened and you could never effectuate otherwise you would just be doing the attack rather than posting about it here.

>>16353420
>Armchair speculating about an attack that has never happened
lol so you don't understand the first thing about bitcoin? noted.

>>16353446
>t. The guy who calls your sister/mom a cock-gobbling semen demon but has never actually been laid himself

>>16353378
>The miners on BitCoin expect large blocks and have equipment to handle it
not really they talk the talk but don't walk the walk.
>How do already mined blocks affect the profitability of mining a new block?
read my post once the attacker has 51% nobody makes profit mining anymore just him. everyone else only has mounting expenses even if they turn off the miners just running the node will get more expensive by the day. in a year it would be as big as amazon cloud. but the attacker would of course prune the shit out of it he wouldn't keep jack.

>>16353468
Could you try to explain from another angle?

>>16352971
who gives a shit, no one is using crypto to actaully buy anything except druggies

>Le Hurr Durr
>Plz Buy My Bagz

>>16352971
where is the KYC wallet pannel?

>>16353592
what other angle? minority hash forks were never secure but with block limit you could only try reorg double spends couldn't really kill a chain. price drops your attack is no longer profitable you give up back to business.
but with no block limit, the attacker can run an effective dos with no real cost to himself perfectly following the ruleset. and no matter where you fork he can come after you until you limit blocksize (which would be the full capitulation and death of sv)

>>16353859
>where is the KYC wallet pannel?
What do you mean? The kyc rules are different from country to country. Some countries doesn't even have kyc laws

>>16353862
hmm thanks, but I still don't quite get it. What about the utxo and merkle tree?

>>16353879
>What about the utxo and merkle tree?
what does that have to do with any of this?
that's a completely different story.

>>16353904
>that's a completely different story.
ok. Could you try to explain it? I'm quite new

>>16353956
tldr the point of bitcoin and the pow blockchain is not to store every last transaction forever but to provide a mechanism to build the correct utxo set in a trustless manner. the utxo is the only thing that truly matters. long term the data embedded in the transactions is absolutely useless garbage even the witness (sigscript) is useless junk what matters is that you can build the correct utxo from scratch without trusting anyone.

so the blockchain will eventually shed all the junk. and this includes old transactions even. we can't do it yet but we will do it in the future when pruning the chain becomes the norm.

btc utxo size is about 100mb right now the last 100 blocks are an other 100mb and around 50mb is the block headers up till that. you need 250mb to run your own full node and that's quiet reasonable.

and i know exactly who you are.

>>16354016
>What about the utxo and merkle tree?
and of course the other issue with the craigist approach is that once you prune a tx from the lock the block is now worthless. it can not be used to build the correct utxo anymore it becomes garbage the only part that has value is the header that is all you should be keeping.

so while merkle trees make it possible to remove tx-es from the blockchain that only makes sense if it's done via a hard fork and the consensus follows the hard fork and this makes the tx "never happened" and keeps the integrity of the blockchain. but come on herding a 100 cats is a hell of a lot easier.

>>16353829

>>16354016
>>16354089
very interesting. What about the price per block reward and too big utxo on bsv? That is bad if I understand correct right?

>>16354288
what exactly do you mean?

>>16354016
>and i know exactly who you are.

Funny, I could say the same

>>16354326
it's a small board

>>16354300
the utxo is too big on bsv so the miners are not able to support the chain much longer. Did I get that right?

>>16352971
BSV fatal UTXO flaw
>>16353460

>>16354379
Retarded FUD. UTXO can be unbounded in theory. Practically speaking, UTXO may be petabytes in size before it becomes too unwieldy for mid-level data centers.

>>16354379
The absolute state of blockstream shills

We're all gonna make it!

>>16354102
lmao source?

>>16354361
no that's bullshit the utxo is most likely smaller than on btc.

>>16355713
ok, but they have big problems right? bsv with the whole craig and calvin thing and illegal gambling I mean

>>16352971
These comparison chart things are, in themselves, IQ tests

>>16355713
i mean i don't know about how the spams (stress tests) are carried out but nobody uses sv. so the utxo could be a hell of a lot smaller than for btc as is the case with bch. in fact it's probably smaller than bch utxo set. can't find any statistics tho would be nice to confirm.

Craig wants to host the entire internet on the blockchain. it wont ever work. he has no idea how a website even works. just imagine trying to handle millions of queries per second on a blockchain LOL.

>>16355718
>they have big problems right?
that's an understatement. and no gambling is the least of their problem.

if you want the tldr: sv devs just went full retard. whenever they are faced with a dilemma they without failure will choose to go full retard. it's a fucking dumpster fire.