newblockera

Completed excerpts shared by a pseudonymous programmer going by the name Satoshi Nakamoto and cypherpunks. #Bitcoin

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2024-08-22 08:11:44

#BitVM 2: Advancing Permissionless Verification on #Bitcoin
#BitVM2 introduces a novel approach to permissionless verification on Bitcoin, addressing limitations of previous designs and improving trust assumptions. The original BitVM was limited to two-party settings, while later versions introduced multi-party configurations but required predefined verifiers. BitVM 2 improves upon these by allowing anyone to act as a verifier during runtime. It requires a one-time setup with a 1-of-n honesty assumption, simplifies the design, and reduces trial length to two rounds.
The verification process aims to verify assertions of the form f(x) = y for complex programs. It uses a balanced approach between on-chain and off-chain computations. The prover commits to input, output, and intermediate results, while verifiers can disprove any faulty assertion. The technical implementation utilizes a Taptree with scripts to disprove computations, reducing worst-case computation to a single step. This approach balances the prover's commitment size and the verifier's script size.
BitVM 2 can serve as a building block for permissionless bridge verification. However, it's worth noting that there's still a potential for fee theft by malicious provers, though deposits remain safe.
BitVM 2: Revolutionizing Permissionless Verification on Bitcoin
In the ever-evolving landscape of blockchain technology, Bitcoin continues to push boundaries with innovative solutions. BitVM 2 represents a groundbreaking advancement in permissionless verification that addresses key limitations of its predecessors while enhancing security and trust models.
The journey to BitVM 2 began with the original BitVM design, which was constrained to two-party settings. Subsequent iterations introduced multi-party configurations, but these still required predefined verifiers and incurred increasing setup costs with each additional verifier. This limitation created a vulnerability: a finite number of parties could potentially be bribed to compromise a contract.
BitVM 2 shatters these constraints with its key innovation: allowing anyone to act as a verifier during runtime, without being part of the initial setup group. This dynamic approach significantly improves the trust model and simplifies the overall design, reducing the maximum trial length to just two rounds.
At its core, BitVM 2 aims to verify complex program assertions efficiently. It employs a balanced approach between on-chain and off-chain computations. The process begins with the prover committing to the input, output, and all intermediate results in a single step. Verifiers can then challenge any part of the computation they believe to be incorrect. A Taptree containing scripts for disproving computations allows for efficient on-chain verification. This method significantly reduces the on-chain footprint while maintaining rigorous verification standards.
The most exciting prospect of BitVM 2 is its potential as a building block for permissionless bridge verification. This could pave the way for more secure and efficient cross-chain interactions, a critical component in the increasingly interconnected world of blockchain ecosystems.
While BitVM 2 represents a significant leap forward, it's not without challenges. The potential for fee theft by malicious provers remains a concern, although the core deposits remain secure. This highlights the ongoing need for vigilance and further refinement in blockchain security models.
BitVM 2 stands as a testament to the continuous innovation in the Bitcoin ecosystem. By addressing key limitations of previous designs and introducing a more flexible, permissionless verification model, it opens up new possibilities for complex computations and cross-chain interactions on the Bitcoin network. As the technology matures, we can expect to see exciting applications that leverage this enhanced verification capability, further solidifying Bitcoin's position at the forefront of blockchain innovation.

2024-08-22 04:17:27

Bitcoin is the only cryptocurrency that truly follows the power law. This is a crucial distinction that sets it apart from all other digital assets in the crypto space. While many altcoins, including big names like Ethereum and Solana, claim to exhibit power law characteristics, the data tells a different story.
Bitcoin uniquely adheres to power law distributions across multiple metrics. These include wealth distribution, mining pool concentration, node distribution, and transaction volumes. This consistent pattern isn't mere coincidence – it's a reflection of Bitcoin's genuine decentralization and network effects that cannot be replicated.
Altcoins may promise similar patterns, but closer examination reveals that they often exhibit more centralized structures masked as decentralization. Their distribution patterns and network characteristics simply don't align with true power law dynamics.
Bitcoin's adherence to power laws isn't just a statistical curiosity. It serves as tangible proof of Bitcoin's unparalleled position in the cryptocurrency ecosystem. This mathematical consistency underscores Bitcoin unique properties and reinforces its status as a truly decentralized and robust network.
Understanding this distinction is crucial for anyone looking to grasp the fundamental differences between Bitcoin and other cryptocurrencies. It highlights why Bitcoin continues to stand out in a sea of digital assets, maintaining its position as the premier cryptocurrency.
#Bitcoin #PowerLaw #Cryptocurrency #Decentralization

2024-08-22 04:09:50

#Bitcoin is the original digital fire. Like fire, it cannot be recreated – only discovered once. All altcoins are mere attempts to harness this revolutionary flame.
Altcoins may tweak the formula, trying to improve upon Bitcoin's groundbreaking technology. But at their core, they're all using the same fundamental "fire" that Bitcoin ignited in the world of finance and technology.
Just as our ancestors couldn't uninvent fire once discovered, we can't undo the paradigm shift Bitcoin has created. Every cryptocurrency that followed is, in essence, a variation on Bitcoin's original flame.
#Bitcoin #Blockchain

2024-08-20 06:52:38

https://media.tenor.com/uCp62jbo-OEAAAAC/good-morning.gif

2024-08-20 06:51:19

#Bitcoin > long con alts

2024-03-17 03:12:16

#Bitcoin will soon have a market cap, 1 trillion USD higher than Ethereum. Biggest marketing scam since 2017 is the “flippenig”

2024-03-09 02:56:08

You cannot recreate #Bitcoin. You cannot recreate fire. You can alter fire, but you cannot recreate it. That is what altcoins are. Altered fire.

2024-03-02 03:35:43

Newer participants in the world of Bitcoin may not be aware that concepts such as smart contracts, sidechains, Layer 2 solutions, non fungible tokens, tokens, and decentralized autonomous organizations were all originated by Bitcoin OGs in the early part of the 2010s. #Bitcoin #nostr

2024-02-25 19:44:53

I have heard people talking about Ethereum overtaking #Bitcoin, but it hasn't happened yet. I believe that a flippening will eventually occur when #Bitcoin surpasses #Gold. This is because Bitcoin is a hard currency, which is the essence of cypherpunk ideology. On the other hand, the term "AI money" is just a phrase used by venture capitalists to scam people. In the end, VC always wins in Ethereum.

2024-02-24 19:09:34

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You could use Alby. Directly connect it to nostr.

2024-02-24 18:50:13

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Not much of a thank you.

2024-02-24 18:42:13

500 Billion VC influx of cash coming to Bitcoin, courtesy of of the toxic Bitcoin maximalists that demand taproot. Opened a black hole. Toxic Bitcoin maximalists way to go. And congrats on now turning on Bitcoin Magazine.

2024-02-24 18:12:17

@npub1fjq…leku I only own Bitcoin, and I opposed taproot. Toxic Bitcoin maximalists hide under fake photos, weird anonymous names. @npub1a7u…t2ea decided to call me out. Him calling me a shitcoiner I take personally. So debase stop hiding under weird photo. And debate me.

2024-02-24 08:39:43

Debase is a bitch. Calling him out. I have been in Bitcoin since 2011. I will debate him live. Man up. #note19lw…fnku

2024-02-24 07:47:01

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You are a bitch hiding under some anonymous moniker.

2024-02-24 07:13:38

Hedge fund Pantera says it’s ‘time to seize that moment’ for $500bn #Bitcoin #DeFi opportunity
Toxic Bitcoin maximalists have lost. And the Bitcoiners have won.
We Are All Satoshi except Craig Wright

2024-02-24 04:09:57

Bitcoin Magazine is irrelevant and a joke. The direction of Bitcoin's Layer Twos and the developers building on Bitcoin will be determined by the markets. The purity test sounds like wording from the Marxist playbook. #Bitcoin #nostr

2024-02-15 03:28:20

We Are All Satoshi except Craig Wright #Bitcoin #Nostr #grownostr https://image.nostr.build/6987a3c01b3df91deb271ea460e9806e0eca8ba4811e6532734be51dbb665c9b.jpg

2024-02-14 06:36:28

Nick Szabo: "#Monero is a very good privacy complement to #Bitcoin, they are both good money."

2024-02-14 06:35:01

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I love Monero. And yes, you are correct. Even Nick Szabo said "Monero is a very good privacy complement to Bitcoin, they are both good money."

2024-02-13 19:16:24

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Nations *

2024-02-13 19:16:01

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I highly doubt CIA created Bitcoin. Have been in Bitcoin since 2011, it is likely Bitcoin was created at MIT. As for Jay Z and Jack being demons, doubt that, both men donated 500 Bitcoin each to fund economic growth, education, and clean water technologies for African narions.

2024-02-13 18:04:26

I have been captivated by #Bitcoin since it was introduced. I find everything about it to be valuable. The shadow banking system, the Federal Reserve, fiat currency, and the US debt, which has now surpassed 34 trillion, have all contributed to the decline of the United States Dollar, a once strong currency backed by gold. These failed systems have caused significant damage to my country and our people. Bitcoin is incomparable, and nothing can replicate it. It is the standard for monetary assets. As time goes by, I plan to invest more heavily in Bitcoin, purchase Bitcoin ETFs, and continue down this path. I am also focused on bringing distributed ledger technologies to the Bitcoin #Blockchain on layers of Bitcoin. Unfortunately, some individuals label me as a "shitcoiner" without comprehending the distinction between Bitcoin as an asset and Bitcoin as a blockchain. We are witnessing virtual machines being added to Bitcoin on layers, DeFi TVL reaching billions, Ordinals, BitVM, rollups, zero-knowledge proofs, and of course, #Nostr. This is only the beginning.

2024-02-12 19:49:58

Jack Dorsey in a public interview discussing #nostr said that #Bitcoin payments “will grow faster with zaps and the fact we finally have global permissionless payments on the internet.”
Edward Snowden tweeted that “unlike the old social media ‘platforms’ where the platform-owner (FB, Tiktok, Twitter) gets to decide who can speak—and what can be heard—#nostr is an open protocol.”

2024-02-12 16:06:51

I officially sunset my twitter aka X account. Will be focused on #nostr #Bitcoin

2024-02-12 02:26:47

“Bitcoins have no dividend or potential future dividend, therefore not like a stock. More like a collectible or #commodity.” #Bitcoin #nostr
— Satoshi Nakamoto

2024-02-11 00:10:16

We are witnessing a surge in funding for #Bitcoin research from academia, corporations, and goverments.
#nostr

2024-02-10 19:24:52

Satoshi forum posts dating back to 2009. #Satoshi clearly states that #Bitcoin will have layers and supports merge mining. The Bitcoin blockchain is completely different than Bitcoin the asset. This Satoshi quotes sums it up well.
If you don't believe me or don't get it, I don't have time to try to convince you, sorry.
Satoshi Nakamoto

2024-02-10 06:12:20

I mined block 70-something, and I was the recipient of the first #Bitcoin transaction when Satoshi sent ten coins to me as a test — I carried on an email conversation with #Satoshi over the next few days, mostly me reporting bugs and him fixing them.
#HalFinney was the first person to support and help Satoshi Nakamoto. He also contributed code in 2008 and early 2009, before it was released to the public in January 2009. Hal also went down in history as the receiver of the first Bitcoin transaction, in which Satoshi Nakamoto sent him 10 BTC.

2024-02-09 16:04:24

I start to realize how moronic the new class of Bitcoiners 2019 - present are. I am a #Bitcoin maximalist. I call the buffoons who lack to learn toxic maxi pad Bitcoiners. They never read the Cypherpunk mailing list, Satoshi writings white paper, or Bitcoin academic papers. #nostr

2024-02-09 15:56:38

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Read Satoshi writings. Get back to me. You have no idea what you are talking about.

2024-02-09 05:03:30

I have been making money by purchasing #Bitcoin every day, as much as I could afford. I have continued doing so. During the same time, I have also been studying various technologies such as #EVM, ring signatures, smart contracts, zero-knowledge proofs, DeFi, and distributed ledger technology. Through my studies, I have come to realize that all of these technologies are gradually being incorporated into Bitcoin. #nostr

2024-02-09 03:38:40

#Bitcoin has the potential to surpass #Ethereum in all aspects eventually. This is not to say that #Ethereum is illegitimate in any way. Bitcoin was designed to be an all-in-one solution, and it's getting closer to achieving that goal. With the introduction of BitVM, the potential of drivechains becoming a reality, payment scaling solutions being implemented, L2s, super meta protocols, and inscriptions, Bitcoin is moving towards becoming a more powerful platform.

2024-02-08 02:53:34

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“Lost coins only make everyone else’s coins worth slightly more. Think of it as a donation to everyone.”
— Satoshi Nakamoto

2024-02-08 02:34:14

No mercy for faketoshi Craig Wright We Are All Satoshi except Craig Wright