Reddit Posts
SBF opens new "block chain company" FTX BLOCKS to repay his old customers
Twitter account that was exposing Nexo and Ku Coin has gone.
Bitcoin scaling: The “BIG BLOCKS” side was right about everything.
BLOCKS DAO LLC featured alongside IBM and ConsenSys as Major Drivers for blockchain innovation in government contracting
MetaEarth | NFT metaverse project 💰| Just Stealth Launched 🤝| Liquidity Locked 🔒| 100x potential or more 🚀|
Mentions
Twenty-first century burn! *"That guy is so dumb ... if he spent 500 sats to upload his digital consciousness to the blockchain, his transaction would be confirmed in less than SIX BLOCKS!"*
Mate, are you serious? The reason it is an attack is because you don't accept the 49% fork and you have the longest chain despite it. Of course if a 51% majority ***didn't attack*** it wouldn't constitute an attack. So tell me, if you have 49% and I have 51%, and the network will always choose the longest fork, how will you prevent me from censoring ALL OF YOUR BLOCKS if I decide to simply ignore your fork. You will never outpace my 51%. Please educate yourself on the braindead basics before getting cute.
Next they're creating BLOCKS for the Minecraft sub
We don't need to wait, you can just admit you're wrong now. New Bitcoins are born via the [block subsidy](https://github.com/bitcoin/bitcoin/blob/v22.0/src/validation.cpp#L1186-L1197). If a participant in the network--even a quantum computer--tries to override the block subsidy calculation and reward itself with more bitcoins than the protocol allows, EVERY OTHER PARTICIPANT IN THE NETWORK WILL REJECT THOSE BLOCKS AS INVALID. It's that simple.
Crypto is forever. If they try to transfer money, there will be a record. They can try to obfuscate the record. I doubt it will work. But every transaction ever is stored in a CHAIN of BLOCKS. Block-chain. Look up the definition of “immutable”
Lol! He's running FTX BLOCKS from police custody
" At this pace FTX BLOCKS could pay for the dept of FTX in less than 80,000 years." You guys dont understand. SBF was trying to do his users a fvaour by force diamond hands their BTC till it finally hits 100k by 2021 Q90000
>Caroline Ellison might soon give up her position at Alameda Research to join FTX BLOCKS. I didn't know hoes are used to make BLOCKS
He will operate FTX BLOCKS from jail 🤣
>Caroline Ellison might soon give up her position at Alameda Research to join FTX BLOCKS. I didnt know hoes are used to make BLOCKS
The transactions aren't technically censored, they just take longer to get picked up by a block producer. OFAC compliant nodes make up around 51% of the network, 49% still aren't compliant. The probability of a "censored" transaction not going through is approx. (1/2) ^ N_BLOCKS For N_BLOCKS = 8, i.e. waiting for 96s, the probability of the transaction not going through is 0.4%.
Woah….I’m sorry but I want to seriously try and explain and help you but you’re so delusional it’s far to late to have reason with you. All your points are just a easily counter points. “What’s the point if there is someone else living in it unwilling to move out?” That’s a squatting problem not a Smart contract issue, did the squatter somehow get the deed to your home that’s within said smart contract? No, no they did not. “When it hits the real world it simply doesn’t have authority anymore.” Curious here, where do you think the line between real world and virtual world starts and stops? It doesn’t, who gave you the idea that there’s a difference between your virtual actions and seemingly “real world” actions. “I never heard of a hospital using the blockchain and I doubt” - Take a [gander](https://www.frontiersin.org/articles/10.3389/fbloc.2021.732112/full) “But what is the real benefit of using blockchain for that? You can do the same with normal databases” - NO YOU CANT. What don’t you get from the word immutability? It’s simply, blockchain provides that, databases don’t. I can add and remove all day with a database. You can’t with a blockchain, only add new BLOCKS via CHAINS. “Let’s be serious” Proceeds to again not mention any of them. “Almost no demand for a blockchain-solution” tell that to these [guys](https://www.dappuniversity.com/articles/blockchain-developer-salary)
Hey, I'm against what they're doing as much as the next guy. But you are simply misunderstanding here >MORE TRANSACTIONS DOES NOT MEAN MORE BLOCKS AND MORE MINING. I haven't heard anybody say more transactions means more blocks or mining. That's very nearly a strawman. Are you not misunderstanding/misquoting what people are actually saying? >OK THEY WOULD SAY..IF THE PRICE GOES UP MORE MINING. ...and wrong with your explanation of this line (your explanation comes in the paragraph after) Regarding price leading to more mining, you defend it with discussion of Lightning/L2, and get a bit wrong/misunderstood. I can try to be brief, but it's not easy, so I apologize in advance for text wall: 1. Bitcoin L1 secures everything built on top of it. Mining will increase as price goes up, because of course competition, but also the price *needs to go up*. It is a requirement, and while the rate can be parabolic or sublinear, it still must increase (well, value rather than price, if they become untangled). Why? Say it is 2050 and Bitcoin's price is equivalent to $10k today. Miners dip out until it becomes profitable for the remaining ones again, which means low difficulty and low hashrate. But it's 2050! The proliferation of and advancements in hardware are all but guaranteeing that today's hashrate can be replicated on a simple server farm by then. So Bitcoin is now able to be subjected to 51% extended attacks. The full nodes, which are cheap to run, reject the attacker's chain. Ok, but another attacker does it, and another. Eventually Bitcoin is abandoned, as has already happened with some chains in the space for this **exact** reason (users just got fed up of the constant attacks). Bitcoin's hashrate needs to increase such that it is still incredibly difficult/impossible to do these attacks easily and often. This involves energy and hardware\*\* 2. Lightning will eventually have its own problems. As pointed out in another recent thread by myself and others, if Bitcoin secures most/all of the world's wealth ultimately, then (a) most people will be unable to afford a transaction, (b) those who can in countries like America and the EU will still see txn fees on the order of 5-20% of their liquid assets, so untenable, and (3) with only 3 txns/s, and Lightning requiring a transaction to open a channel, and 8b people using Bitcoin for their wealth, you'll wait days or months to get on the network. (2.1 quadrillion sats, 8b people, 500 bytes/txn, 10 sats/vbyte = 5000 sats/txn as fee, and assume world wealth of 1 quadrillion, and everyone in the world trying to at least jump on Lightning, then the math falls out) Lightning is not a panacea; it is a step in the right direction for now, and one which allows (while the user base is still small and sats are still cheap) people to save a lot of money and do things quickly. It's for adoption. Other solutions need to come along. ​ \*\* Perhaps mining advancements will reduce energy expenditure naturally (ASICs already use way less power/hash than GPUs and CPUs), but in such a way that the bottleneck is now hardware **and** it is for some reason infeasible to use plentiful but wasteful GPUs and CPUs. Or perhaps hardware in general becomes scarce, so energy use goes sublinear as there's simply less to add each year. And the elephant in the room, which is renewable energy use in mining. Most people who care about energy seem not to give 2 shits about waste heat or emission in manufacturing/recycling, so I won't care about that either :) If mining operations drive to renewable sources, as it appears to be doing, then that removes the entire underpinning of the EU's (stated) argument against POW.
So….. uhh… ehhhh…. THERE IS BLOCKS……….
A node is an actor that receives, validate and propagate transactions and blocks. A node can be FULL, so it stores the whole blockchain, or can be like an Standard Payment Verification node, that stores only data relevant to his' wallet. The general paradigm is that a node is a partecipant that stores the blockchain, contributes to propagate transactions and blocks and validate them...validation means that once he receives a tx he looks how the transaction is built and if it'b built according to Bitcoin rules it propagates it to other nodes. Same thing with blocks. There are a bunch of rules both for blocks and for transactions, I'm not going through all of them now but a few are: TRANSACTIONS - Sum of inputs is >= sum of outputs - If it's a coinbase transaction it has to be burried under 100 blocks - Looks if the timelock conditions are met - the amount spend cannot be bigger than 21mln coins and not lower than 1 sat - etc BLOCKS - Verifies if the result of the hash of the blockheader is a lower number than the target (difficulty target of the network at the specific time) - Verifies that the first transaction is the coinbase transaction - verifies that the coinbase transaction amount is not bigger than the block supply at the moment - Verifies that the size of the block is not bigger that *i cannot remember the exact number* - and so on A node was also a miner at the beginning of Bitcoin. Nowadays a node is not a miner BUT a miner in order to mine properly has to rely on a node...so we can say that if you want to mine you need a node, other than that you can be perfectly fine with a node (that does the activities described before). A miner does a different activity...a miner basically builds blocks and looks for the Proof of Work, the solution of the problem. Once he gets the solution he propagates the mined block to the network to nodes and the process starts again. The 10 minutes paradigm is an interval in which*statistically* the network should be able to find a new block according to the difficulty target at the specific time. So the mechanism is a continuous loop that starts when a miner receives a block. He receives a block, he validate the block (with the node he is relying on) and he immediately starts to mine the next one. So he packs all the information of the block into something that is called *block header* and starts to hash it changing continuously the *nounce* (a random value that the miner uses to change the hash). The process is a random process, so the solution could be found into 30 seconds or in 20 minutes, you cannot know it precisely. Once he gets a nonce that hashed with the block header gives him an hash lower than the target, then he takes this block and sends it to the network. Then the network (so all the nodes) will validate it (look for all the conditions to be met) and then eventually they will hold it in their local blockchain. As I said, the process can be 10 minutes long, 30 seconds or 50 minutes, it's a matter of probability to find a number lower than the target. The important bit is that in the long period the interval between two blocks must be 10 minutes and the algorithm enforces this rule by adjusting the difficulty target once every 2016 blocks in order to move the difficulty according to the computational power in the network at the time.
bitcoin. WAS meant to scale to this level, it just easn't meant to scale to global adoption AND STILL HAVE 1 MB BLOCKS. That's the insane part. Blockstream has forced bitcoin to remain with 1mb blocks just like it used tohave in 2010... It's absolutely absurd
OLT, PLANETS, BLOCKS last 2 are part on "mining" projects. Both very new and I believe they're both take off once the helium gang take notice.
Humbl and $BLOCKS are working to solve this problem and fuck Ticketmaster right out of existence.
What’s in the blocks? ***WHAT’S IN THE BLOCKS?***