Thread: Bitcoin
Showing posts 11-15 of 15 (oldest first)
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#127
| 2026-04-13 06:46:43 UTC
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"The proof-of-work is a Hashcash style SHA-256 collision finding. It's a memorβ¦
"The proof-of-work is a Hashcash style SHA-256 collision finding. It's a memoryless process where you do millions of hashes a second, with a small chance of finding one each time. The 3 or 4 fastest nodes' dominance would only be proportional to their share of the total CPU power. Anyone's chance of finding a solution at any time is proportional to their CPU power."
- Satoshi Nakamoto
He also refers to the proof-of-work as a "partial pre-image of zero", which is an interesting way to think about it.
https://www.metzdowd.com/pipermail/cryptography/2008-November/014858.html
"... Political freedom is the resultant of unresolved conflicts among various sections of the Γ©lite. The existence of these conflicts is in turn correlated with the interplay of diverse social forces... "
- James Burnham, The Machiavellians
So: Bitcoin produces a species of political freedom via a cyclic (by which I mean permanent & dynamic) Burnham unresolved conflict between its miners.
#128
| 2026-04-15 05:31:14 UTC
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"The credential that establishes someone as real is the ability to supply CPU pβ¦
"The credential that establishes someone as real is the ability to supply CPU power."
- Satoshi
https://www.metzdowd.com/pipermail/cryptography/2008-November/014860.html
He is referring to identity within the Bitcoin mining system.
It occurs to me that:
In the political world, the credential that establishes someone as real is the ability to supply violence.
This violence may be direct or delegated, wide or limited, open or hidden, embraced or disavowed, demanded or inspired, but it must. be. present.
In the same way that Bitcoin mining ignores all identities other than those that supply CPU power, politics ignores all identities other than those that supply physical force.
On top of Bitcoin mining, we can build addresses, transactions, identities, property rights, immutable publishing, and secure communication.
On top of violence, we can build towns, cities, temples, polities, law courts, houses, families, and futures.
But: Without a foundation, nothing can stand.
#129
| 2026-04-18 08:51:02 UTC
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"
> You have an outline
> and proposal for such a design, which is a big step
β¦
"
> You have an outline
> and proposal for such a design, which is a big step
> forward, but the devil is in the little details.
I believe I've worked through all those little details over the
last year and a half while coding it, and there were a lot of them.
The functional details are not covered in the paper, but the
sourcecode is coming soon. I sent you the main files.
(available by request at the moment, full release soon)
"
- Satoshi
https://www.metzdowd.com/pipermail/cryptography/2008-November/014863.html
Date: Mon Nov 17 12:24:43 EST 2008
A year and half earlier would be:
May 17 2007
So he was inspired to begin working on Bitcoin on or before that date.
Often it's said that Satoshi was inspired by the 2008 financial crisis and the ensuing bailouts (which he cites in the genesis block), but this claimed start date is much earlier.
He was probably inspired by the initial subprime mortgage crisis, which began in February 2007. (The US housing bubble popped in mid-2006.)
#130
| 2026-04-19 13:53:16 UTC
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I analyzed the Bitcoin v27.2 codebase and found some general metrics about it.
β¦
I analyzed the Bitcoin v27.2 codebase and found some general metrics about it.
These tools & approaches for finding metrics can be used on other versions of the codebase, and on other repos.
https://telablog.com/bitcoin-v27-2-codebase-metrics
I wrote the draft as a text file, and (with Cursor) built a few Python scripts to:
- construct the article from the draft file + the prefix & suffix files.
- extract / deduce the title and the custom excerpt.
- push the article to the publishing platform via its API.
-- Notes:
--- This is idempotent: It doesn't create the article again if it already exists.
--- The body is one large pre-built markdown entry. This avoids the need to manually interact with the body in the editor.
Of interest: I used AI here to build & iterate on /deterministic/ tools (the Python scripts). I did /not/ try to build a processor that would use AI to indeterministically i.e. unreliably run the publishing action sequence.
#131
| 2026-05-09 08:34:56 UTC
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http://edgecase.net/articles/bitcoin_transaction_test_set_2
This article contaβ¦
http://edgecase.net/articles/bitcoin_transaction_test_set_2
This article contains 16 Bitcoin transactions, with 1-3 inputs and 1-3 outputs.
All transactions are onchain - and thereby confirmed to be completely valid (there is no higher level of validation). You can take each txid and look it up in a block explorer.
Private keys are included. All addresses are Pay-To-Public-Key-Hash (P2PKH).
I published it on 2020-12-19.
A Bitcoin transaction is a complicated object. Getting one of its aspects wrong can produce a transaction that looks plausible but is invalid, or worse, valid in a way the developer did not intend.
The value of a test set like this is that it gives a developer something fixed and confirmed-true to compare against. You can run your code against known cases and check whether it produces the expected transaction IDs, signatures, serialized bytes, or decoded fields.
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