bitcoin $100M

it would be a lot easier for everybody to understand, if bitcoin was $100M, and a satoshi was $1. lets do that.

submitted by /u/kairarawademon
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To the moon!

submitted by /u/frameratesandcoffee [link] [comments]

On NPR tonight I heard Kai Ryssdal ask a reporter what Bitcoin is. It immediately reminded me of this great clip.

submitted by /u/tearductduck [link] [comments]

Only people trying to create new coins would need to run network nodes

Satoshi Nakamoto, November 03, 2008:

Long before the network gets anywhere near as large as that, it would be safe for users to use Simplified Payment Verification (section 8) to check for double spending, which only requires having the chain of block headers, or about 12KB per day. Only people trying to create new coins would need to run network nodes. At first, most users would run network nodes, but as the network grows beyond a certain point, it would be left more and more to specialists with server farms of specialized hardware. A server farm would only need to have one node on the network and the rest of the LAN connects with that one node.

The bandwidth might not be as prohibitive as you think. A typical transaction would be about 400 bytes (ECC is nicely compact). Each transaction has to be broadcast twice, so lets say 1KB per transaction. Visa processed 37 billion transactions in FY2008, or an average of 100 million transactions per day. That many transactions would take 100GB of bandwidth, or the size of 12 DVD or 2 HD quality movies, or about $18 worth of bandwidth at current prices.

If the network were to get that big, it would take several years, and by then, sending 2 HD movies over the Internet would probably not seem like a big deal.

Source: https://satoshi.nakamotoinstitute.org/emails/cryptography/threads/1/#014815

submitted by /u/hegjon
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source https://www.reddit.com/r/btc/comments/lwoebg/only_people_trying_to_create_new_coins_would_need/

Sorry I am a little stupid but what's the value of NFT for society?

I don't understand the fuss about NFT so I hope you guys can educate me on that. I don't see how it creates value for users. It seems to me that NFT is like collecting stickers, it's fun and some people enjoy it, but generally it doesn't really create value for society. And I want to understand why people get so excited about it.

submitted by /u/MobTwo
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source https://www.reddit.com/r/btc/comments/lwos7b/sorry_i_am_a_little_stupid_but_whats_the_value_of/

what would happen if you make 200 000 tx of 1 sat/byte on BTC, all to yourself and then

you wait until the fee estimators see those 200 000 tx in the mempools and respond to it. Once you see more tx going in the mempool that pay more then 1 sat/byte you would replace by fee all the the tx and now go for 2 sat/byte, once the fee estimator algo's respond to this you would 3. More and more and more.

Technically at one point you could stop and after 2 weeks most of your tx would get kicked out of all the mempools and this fee attack would not cost you anything.

Is my reasoning correct, or am I missing a whole bunch of stuff?

submitted by /u/i_have_chosen_a_name
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source https://www.reddit.com/r/btc/comments/lwn2yu/what_would_happen_if_you_make_200_000_tx_of_1/

Why does Hathor Merge Miners don't use the full potential of the large blocks?

Block 677066 is a Hathor block by ZULUPool, and they only took 800 BB, but the mempool at that time was 1.4MB and now rising to 3MB (cleared by BTC.top with the next block at 2.9MB, fortunately). Why did their node decide to not mine the transactions ready to be placed in a block?

submitted by /u/RowanSkie
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source https://www.reddit.com/r/btc/comments/lwh3bz/why_does_hathor_merge_miners_dont_use_the_full/