/biz/ - Business & Finance

[Anonymous No.16448489]

NOOOOOOOOOOOO DR. CRAIG WRIGHT CAN'T BE SATOSHI NAKAMOTO!!!!! HE'S FAKE HE'S A FRAUD!!!! FAKETOSHI!!!

[Anonymous No.16448550]

THIS GUY SAID ON TWITTER CREG IS A FRAUD SO IT MUST BE TRUE

[Anonymous No.16448571]

>>16448489
>>16448550
the absolute state of bsjeets

[Anonymous No.16448630]

>the absolute state of bsjeets

[Anonymous No.16448658]

>satoshi enjoys getting his shit pushed in
STIFF

[Anonymous No.16448664]

>>16448489
He's a fraud because he's provided fabricated evidence and because he's pro-state whereas Satoshi was not. Anyone who partakes in the SV cult is a schizophrenic.

[Anonymous No.16448677]

>>16448664
Where did satoj say he's anti state?

[Anonymous No.16448683]

>>16448664
This. Fuck BSV drama queens. Their coin is not even that great tech-wise.

[Anonymous No.16448700]

>>16448683
>Their coin is not even that great tech-wise.

[Anonymous No.16448705]

>>16448683
It offers nothing new, fucking retard bagholders don't have anyone to sell to

[Anonymous No.16448904]

>>16448677
https://satoshi.nakamotoinstitute.org/emails/cryptography/4/

[Anonymous No.16448919]

>> As long as honest nodes control the most CPU power on the network,
>> they can generate the longest chain and outpace any attackers.
>
>But they don't. Bad guys routinely control zombie farms of 100,000
>machines or more. People I know who run a blacklist of spam sending
>zombies tell me they often see a million new zombies a day.
>
>This is the same reason that hashcash can't work on today's Internet
>-- the good guys have vastly less computational firepower than the bad
>guys.

Thanks for bringing up that point.

I didn't really make that statement as strong as I could have. The requirement is that the good guys collectively have more CPU power than any single attacker.

There would be many smaller zombie farms that are not big enough to overpower the network, and they could still make money by generating bitcoins. The smaller farms are then the "honest nodes". (I need a better term than "honest") The more smaller farms resort to generating bitcoins, the higher the bar gets to overpower the network, making larger farms also too small to overpower it so that they may as well generate bitcoins too. According to the "long tail" theory, the small, medium and merely large farms put together should add up to a lot more than the biggest zombie farm.

Even if a bad guy does overpower the network, it's not like he's instantly rich. All he can accomplish is to take back money he himself spent, like bouncing a check. To exploit it, he would have to buy something from a merchant, wait till it ships, then overpower the network and try to take his money back. I don't think he could make as much money trying to pull a carding scheme like that as he could by generating bitcoins. With a zombie farm that big, he could generate more bitcoins than everyone else combined.

The Bitcoin network might actually reduce spam by diverting zombie farms to generating bitcoins instead.

Satoshi Nakamoto

[Anonymous No.16448932]

>[Lengthy exposition of vulnerability of a systm to use-of-force
>monopolies ellided.]
>
>You will not find a solution to political problems in cryptography.

Yes, but we can win a major battle in the arms race and gain a new territory of freedom for several years.

Governments are good at cutting off the heads of a centrally controlled networks like Napster, but pure P2P networks like Gnutella and Tor seem to be holding their own.

Satoshi

[Anonymous No.16448941]

> Sorry about all the questions, but as I said this does seem to be a
> very promising and original idea, and I am looking forward to seeing
> how the concept is further developed. It would be helpful to see a more
> process oriented description of the idea, with concrete details of the
> data structures for the various objects (coins, blocks, transactions),
> the data which is included in messages, and algorithmic descriptions
> of the procedures for handling the various events which would occur in
> this system. You mentioned that you are working on an implementation,
> but I think a more formal, text description of the system would be a
> helpful next step.

I appreciate your questions. I actually did this kind of backwards. I had to write all the code before I could convince myself that I could solve every problem, then I wrote the paper. I think I will be able to release the code sooner than I could write a detailed spec. You're already right about most of your assumptions where you filled in the blanks.

Satoshi Nakamoto


> I had to write all the code before I could convince myself that I could solve every problem, then I wrote the paper.
> I had to write all the code before I could convince myself that I could solve every problem, then I wrote the paper.
> I had to write all the code before I could convince myself that I could solve every problem, then I wrote the paper.
> I had to write all the code before I could convince myself that I could solve every problem, then I wrote the paper.
> I had to write all the code before I could convince myself that I could solve every problem, then I wrote the paper.
> I had to write all the code before I could convince myself that I could solve every problem, then I wrote the paper.

[Anonymous No.16448966]

As an amusing thought experiment, imagine that Bitcoin is successful and
becomes the dominant payment system in use throughout the world. Then the
total value of the currency should be equal to the total value of all
the wealth in the world. Current estimates of total worldwide household
wealth that I have found range from $100 trillion to $300 trillion. With
20 million coins, that gives each coin a value of about $10 million.

Hal Finney