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The advantages of learning about economics go way beyond understanding Bitcoin.

Economics (in the school started by Carl Menger, Ludwig von Mises, etc), is the study of how people act in order to achieve happiness. It asks: given people have certain goals (but without making any judgements on what those are), and limited time and resources to achieve them, how should they act to maximise their satisfaction? Even a man alone on a desert island is acting economically: should he spend another hour making shelter, another hour catching fish, or another hour relaxing in the sun? The economics of trade is built on top of this. Will one person with too much fish, and another with too much wood, discover they're both happier after trading than they were before, even though the total amount of wood and fish in existence has not changed? Indeed, the most important work on economics by Mises is called simply Human Action.

A few years ago I came across a book (Economics in One Lesson) which began with the following foreword:

>I strongly recommend that every American acquire some basic knowledge of economics, monetary policy and the intersection of politics with the economy. No formal classroom is required; a desire to read and learn will suffice. There are countless important books to consider, but the following are an excellent starting point: The Law by Frédéric Bastiat; Economics in One Lesson by Henry Hazlitt, What Has Government Done to Our Money? by Murray Rothbard; The Road to Serfdom by Friedrich Hayek, and Economics for Real People by Gene Callahan.
>If you simply read and comprehend these relatively short texts, you will know far more than most educated people about economics and government. … If you care about the future of this country, arm yourself with knowledge and fight back against economic ignorance.

I did exactly this and read them one by one. I summed up my findings in this blog post. I've found the books in the list above enough to defend against the biggest and most common fallacies you see in the news. I highly recommend reading at least one, if not all of them, and Economics in One Lesson is the one I recommend most.

He does not. He copy pastes them together and it's something he has been doing like that from before Bitcoin. Look at this article about one the books he wrote (before Bitcoin) and also read the reviews on his book.

The book was called "The IT Regulatory and Standards Compliance Handbook"

Here is a quote from one of the reviews.

>I really had hopes for this one.... Very disappointed. First of all, the material is basically a mix of tools one can use (which is helpful) and overarching organizational rhetoric that is as misplaced as it is nonsensical. Secondly, the editing is SO BAD that it makes it impossible to read more than a paragraph. An example: "Permisions be inconsistently applied when the permissions are retained in moving a file is moved to a new directory[sic]" page 400. Absolutley save your money.

Does this sound familiar? That quote is from 2011, 3 years before he came to the Bitcoin scene.

another quote

>I purchased this book hoping, and judging by the title and page count, that it would be helpful in updating our IS department's policies and procedures. I wanted a reference that would help us include the relevant parts of SOX, HIPPA, PCI, COBIT, and the rest of the alphabet soup of regulations and standards into our processes.

>Unfortunately, this book is more a guide for beginner IT auditors. It took about 10 minutes for me to realize this, so the fault is mine for not examining the TOC and sample pages more thoroughly before I purchased it. I decided to gleam what I could from it, then pass it on to our Internal Audit department.

>As I read the chapters that seemed germane to my project, it became clear that the book was not very well written or edited. I am not a grammar snob; the writing is disjointed, and the grammatical and typographical errors are so frequent they are distracting. I do not recommend this book for beginner auditors because there are better publications available (see the ISACA bookstore online).

This is because CSW copy pastes his books together. No wonder he can write a paper a day unless his control or v or c button broke again.


There is even a review by Dale Liu on that amazon page, which is one of the guys that worked on that book ..... lol


This Dale Liu guy has worked on other books as well. Here is one such book.

Let's look at a review of this book that Dale Liu worked on:

>I'm not the type to go out of my way to give negative feedback, but I seriously need to warn you CCNA canditates about this book. Don't buy it, you're better off spending that 59.95 on different study guide. There are TONS of errors in this book. I'm not at all exaggerating, there are mistakes on just about every page - it's ridiculous! I've contatcted Syngress in an attempt to get my money back but haven't gotten a reply as of this writing.
I've read through numerous IT manuals and study guides in the last 9 years and never have I seen such slipshod material. It doesn't even look like anything was proof read for spelling or grammatical errors. I put my time in with this book too, so I'm not just basing this on a single page or chapter; I can honestly say that, having read through just over half of the book, I have probably seen at least 50 problems ranging from simple things like two identical paragraphs in a row (not a big deal) to staight up WRONG information such as this sentence on Page 182: "Similar to its predecessor IGRP, EIGRP has a maximum hop count of 224 and a default maximum hop count of 100.". According to Cisco, IGRP has a max hop count of 255. The second part my be correct, I don't know because the section on IGRP doesn't mention anything about its default max hop count. With these kinds of inconsistencies, I'm reluctant to commit any of this information to memory, which is the exact reason why we buy study guides, right?
If Syngress makes things right, either by refund or a completely revised second edition, I will re-post with better things to say. If not, I'll move on and never buy their stuff again."

This book was written by Dale Liu and a guy named Jesse Varsalone. There is a video of Jesse Varsalone where he basically starts with naming all his credentials and how much he knows. Sounds familiar? Anybody seeing a little pattern here of a network of scammers and people that copy paste books together?

The same Jesse Varsalone is credited in this book. Written by Dave Kleiman, Craig Wright, Jesse "James" Varsalone, Timothy.

Coincidence? I think not.


However CSW does provide a very nice test for the community. Users that tell you they are reading his work are

• either lying (they might be shills)
  
  
• show they don't understand Bitcoin on a rational level, only an emotional one
  
  
• are so much smarter than CSW that they start over analyzing his stuff and come to the conclusion that he must be more brilliant than anybody can comprehend, maybe he means this ... or maybe: oh wait now this is a profound thought what if .... which is like an amplified DDOS attack. You say some vague stuff and some brilliant persons starts filling it in with their thoughts, which then attracts other people. This is I think what happened to Ryan X Charles and possibly Gavin.
  
  and one more thing, do you see this pic? This is how CSW wanted to look like when he was copy pasting IT books. This is how he wants to look when he is copy pasting papers on Bitcoin together.
  
  Brilliant actor and conman, one of the best the world has ever seen. I have seen him fool a bunch of teenagers in believing that it was him who thought birds how to fly. That's how good he is.
  
  

Since you're a newbie, you really should first start by getting caught up on Bitcoin's history. I suggest reading materials and interviews that occurred before 2015. Andreas Antonopoulos may be a bit of a Core shill now, but all his talks before 2015 were really great and inspiring. Then there's this book that was first published in 2015 and does a great job recanting the history and foundation of Bitcoin's beginnings up to 2015.

If you wonder what direction Bitcoin should be going, why not read what Satoshi Nakamoto himself had to say? All of Satoshi's public thoughts are published on http://satoshi.nakamotoinstitute.org/

edit: forgot to mention James D'angelo's blackboard series https://www.youtube.com/watch?v=Bhe61JaNFLU&list=PLzctEq7iZD-7-DgJM604zsndMapn9ff6q&index=6

>> if LN or any second layer solution is the preferred scaling method it would take ~8 years for 1Billion users to open just one LN channel, no other commerce happening on chain just opening LN channels
>
>
> In order to make it a fair apples-to-apples comparison, please think about what will happen if these 1Billion users decide to buy their morning coffee using BCH on the same day?
>
>
> I'll tell you. Only these coffee purchases alone will instantly create at least a 220GB backlog in the BCH mempool. Which will take around 48 days (!) to clear with full 32MB blocks. Of course assuming that no other commerce is happening on chain.

• If BTC can only scale on second layers ---> custodial solutions, see - Why is BTC Hard Money and all forks are Shitcoins BTC White Paper 2.0
  
  
  Now what most Core maximalists fail to grasp: I and many others are not against 2nd layers see - the need for 2nd layers Emin Gün Sirer - Scaling Bitcoin x100000: The Next Few Orders of Magnitude we favour letting the system (blocksize) grow as it had been up to 2016 & see where it can get us
  
  
  the fundamental difference
  
  
  
• BTC: 1 Billion entities to be soverign over their own money on 1MB BTC it would take about 8 years for each to get 1 channel open which is clearly unrealistic and so leads to custodial solutions - Hal Finney Bitcoin Backed Banks.
  
  
  
• BCH: Now with only 50MB blocks those same Billion people could put their discretionary spends into a 2nd layer solution once a Month (your math) and perform as many tx's as they like during that month, while still being soverign over their own money.
  
  
  Though we are actully aiming for 1GB blocks, see - jtoomim: My performance target with Blocktorrent is to be able to propagate a 1 GB block in about 5-10 seconds to all nodes in the network that have 100 Mbps connectivity and quad core CPUs. bringing channel opening for 1 Billion people to every other day plus 25% left over for all other "Big Commerce" (your $200 Million transfers.)
  
  
  The BTC future clearly is a custodial one for most people. BCH - jurys still out, I am not even against custodial solutions, I assume a hard money standard would still be a better system than what we currently have.
  
  
  I personally am not 100% convinced either way, Unforkable Ultrahard Money (BTC) or a money that can at this early stage still incorporate the best ideas of the space CTOR etc. eventually forking less and less until it too is unforkable. The latter being the better long term option imo, is the BTC protocol currently optimal? I am hedged either way are you?

Honestly most people shouldn't need to care exactly how the actual technology works, otherwise it will fail.

What is important about Bitcoin is basically summarized in the Introduction section of the whitepaper, but there are other resources (books, videos) that can help a great deal.

Maybe try this:

https://www.amazon.com/Whats-Big-Deal-About-Bitcoin-ebook/dp/B00RF3BQDU

It's on the resources list at https://derekmagill.com/bitcoin/ , which honestly contain many deeper level links not very suitable for general introduction.

I am in particular searching for an early good video about 'What is Bitcoin', but haven't found the link yet. Will post it as a reply to you when I find it.

500 bits u/tippr to experiment with

> Never read it, will google them after this reply.

It's so fucking cool it's unreal. Not up to date with recent developments but wanna check it out again properly soon.

>Mendelson can be useful but, heck, you need some strong background. There's a lot of books mistitled as "introductions", mendelson is one of them.

That'd explain why it was so dense lol - I dived from no mathematical logic (apart from like basic predicate calculus) and using first order symbols sparingly.

>There's actually no perfect book to serve as introduction to mathematical logic, but I highly recommendthat you check out https://www.amazon.com/Mathematical-Logic-Oxford-Texts/dp/0199215626
>
>Also get this little fella here: https://www.amazon.com/Mathematical-Logic-Dover-Books-Mathematics/dp/0486264041 for a nice, short survey.

Thanks :D I'll check it out. Given your breadth of knowledge on it I imagine your background is pure mathematics?

Thanks for keeping an open mind. I’m one of the main characters in these best selling books #1, 2 and they do a great job covering my involvement. If you read either one, you will never questions my dedication to the space again.

What you are asking for is a complete lecture on how bitcoin works essentially . This is a good place to start-

https://bitcoin.org/en/developer-reference#block-versions

or this

https://www.amazon.com/Mastering-Bitcoin-Unlocking-Digital-Cryptocurrencies/dp/1449374042

segwit details are found here -
https://bitcoincore.org/en/segwit_wallet_dev/

>I assume you need the reverted tx to be byte for byte the same as the old SegWit tx in order for the Signature to be valid,

The signatures can all be recreated and made valid with them selves in the new history and don't need to match the old history that just so happens to have the "same txs." with the properties that "matter" like tx amount , ect...

I don't think it is bullshit. This is the value of BTC as money, and money only. Bitcoin is also a store of value, a speculative asset, an edge against mainstream assets, etc...

The amount exchanged on exchange do not really matter as they are off chain and very high velocity, so don't contribute to the value of the asset as money.

Even if I assume your $200M is right, then the points still stands, most of BTC's value do not come from it's monetary use.

EDIT: Getting downvoted for reminding basic economics, bravo bravo ! You guys should spend less time on reddit and start reading this: https://www.amazon.com/Economics-One-Lesson-Shortest-Understand/dp/0517548232

Welcome brother! Honestly, the only way is to start reading, reading, reading. I always recommend Mastering Bitcoin. Good luck and keep learning, I know its hard, but worth it.

> endlessly bloating the blockchain

What are you talking about?

have you looked at the cost of an 8TB HD lately, its $180.

Even with 32MB blocks (that's about the equivalent in transaction velocity to warrant a BTC price of close to $1,000,000 you wont fill it up in 5 years.

we only have demand for about 1.3MB at the moment but knowing that its not cost prohibitive to store 32MB blocks and that 5 years into the future storage is going to be a lot cheaper

Are you sure you want to be responsible for limit bitcoin growth?

The reason you don't see much debunking is because those who really understand economics (Austrian economics that is) are busy accumulating Bitcoin.
If you want to read up on it there's nice chapter on inflation in this book: Economics in one lesson - Henry Hazlitt

https://www.amazon.com/Economics-One-Lesson-Shortest-Understand/dp/0517548232/ref=sr_1_1?ie=UTF8&qid=1504879697&sr=8-1&keywords=hazlitt+economics+in+one+lesson

It's an easy to read book I recommend everyone.

Never read it, will google them after this reply.

Mendelson can be useful but, heck, you need some strong background. There's a lot of books mistitled as "introductions", mendelson is one of them.

There's actually no perfect book to serve as introduction to mathematical logic, but I highly recommend that you check out https://www.amazon.com/Mathematical-Logic-Oxford-Texts/dp/0199215626

The price is outrageous, so get a pdf here if available.

Also get this little fella here: https://www.amazon.com/Mathematical-Logic-Dover-Books-Mathematics/dp/0486264041 for a nice, short survey.

Happy New Year to everyone at r/btc! May we finally slay the Creature from Blockstream Island in 2016! :)

If you haven't ever read Satoshi's writing I highly recommend it.

https://www.amazon.com/Book-Satoshi-Collected-Writings-Nakamoto/dp/0996061312

That is the one I had. It is great.

Reminds me of the main character of a book I read years ago: https://www.amazon.com/Regulation-Institute-Ahmet-Hamdi-Tanpinar/dp/0143106732

The book is about a brilliant "scammer" who sets out to found a company (institution) which help people set their watches correct.

> A contender for direct replacement is only good enough if it's better in literally every aspect, even then it might not win.

I'd say a replacement must be significantly better otherwise people won't bother. (That's a major theme in the book The Shock of the Old which discusses the history of technology)

Please check the logical ordering of emails/threads as presented in this book, it might inspire you:

https://www.amazon.ca/dp/0996061312/ref=pe_2480960_170170910

https://imgur.com/a/e9CNwiC

Edit: here’s a better one
https://imgur.com/a/EB5Dc2k

I’m just a fan of the design. Got it on Amazon, using purse.io

https://www.amazon.com/dp/B078YN4SCW/

I helped him a bit when he first came to Tokyo back in early 2014. He started working on "Digital Gold" back then. I really liked the book. Now is the time for him to work on his new book! https://www.amazon.co.jp/Digital-Gold-Bitcoin-Millionaires-Reinvent/dp/006236250X

like everything else, on Amazon. :P -> https://www.amazon.com/dp/B07YLCQ576

You need to study Austrian Economics.

I recommend this book if you really want to understand what is going on.

https://www.amazon.com/gp/aw/d/1119473861/ref=cm_cr_arp_mb_bdcrb_top?ie=UTF8

Yeah, I mean we do want "regular users" to be able to mine. But I mean... look, you can get 8TB of storage for under $200: https://www.amazon.com/gp/aw/d/B01HAPGEIE/ref=mp_s_a_1_4?ie=UTF8&qid=1510364020&sr=8-4&pi=AC_SX236_SY340_FMwebp_QL65&keywords=10tb+hard+drive&dpPl=1&dpID=41mDnJ8-plL&ref=plSrch

Gigabit internet is available in many cities in the US and more is coming all the time. What exactly is preventing regular people from mining? Bandwidth and disk space don't seem to be problems. Is there something else?

And seriously... 2mb instead of 1? Like, does anyone really think that that second megabyte of data every 10mins was gonna be the one that broke the camel's back? An MP3 of my favorite song is 5mb, but since disk space is cheap nowadays I don't use mp3s any more, I use flac so the same song takes 45mb. And 1 extra MB was so dangerous to the Core team that they had to cause a rift in the community by basically disallowing the users and miners from the 2x fork?

Thanks!! There is a chapter called 'On Bitcoin Mining as a Waste of Resources' in The Book of Satoshi which is a collection of his public writings. I've added timestamps to the original post but it doesn't give the urls :)

Just like HSBC. That's how these banks roll. Hypocrisy to the Nth degree.

https://www.bloomberg.com/news/articles/2013-07-02/hsbc-judge-approves-1-9b-drug-money-laundering-accord

Anybody that knows anything about how the current monetary system was put into place knows it's the de facto standard of fraud.

The Creature from Jekyll Island: A Second Look at the Federal Reserve

https://www.amazon.com/dp/091298645X/ref=cm_sw_r_cp_apa_E.PdAb0FX3GJ2

The bankers just don't like what's happening and Jamie and Co. are realizing that they will become, in this analogy, the Blockbuster of banks to cryptocurrencies' Netflix.

https://www.amazon.com/dp/B078YN4SCW
Don't say I never gave you anything ;)

> Oh look, Slackware is using the name Linux, I'm confused, let's sue them: /s
>
> http://www.slackware.com/

"Slackware Linux"
> Oh look, Red Hat is using the name Linux, let's sue them: /s
>
> https://www.redhat.com/en/technologies/linux-platforms/enterprise-linux

"Red Hat Enterprise Linux"
> Oh look, a can of Pepsi-Cola with the term Cola clearly visible on it, let's sue them: /s
>
> https://www.amazon.com/Pepsi-Made-Real-Sugar-Count/dp/B00NU5ZZJI

"Pepsi-Cola"

Show me where it says "Coke" on that pepsi box, again?

Different things have different names. Use them.

Oh look, Slackware is using the name Linux, I'm confused, let's sue them: /s

http://www.slackware.com/

Oh look, Red Hat is using the name Linux, let's sue them: /s

https://www.redhat.com/en/technologies/linux-platforms/enterprise-linux

Oh look, a can of Pepsi-Cola with the term Cola clearly visible on it, let's sue them: /s

https://www.amazon.com/Pepsi-Made-Real-Sugar-Count/dp/B00NU5ZZJI

Indeed we are:

https://www.amazon.com/Three-Felonies-Day-Target-Innocent/dp/1594035229

You again demonstrate a poor thinking process.

So we start with a flippant insult about my production. Well, not to toot my own horn, but I actually have been creating value for the Bitcoin community for years, and I suspect I've grown the network more than 99.9% of others in this space. I've been introducing tens of thousands of people to Bitcoin through books (https://www.amazon.com/Whats-Big-Deal-About-Bitcoin-ebook/dp/B00RF3BQDU), podcasts, articles, videos, and conferences.

I mean, this introductory video alone reached 50,000+ people, and it came with the weight of a respected libertarian non-profit organization behind it: https://www.youtube.com/watch?v=AVdKgQ0jmH8 . I've been invited to speak in front of everybody from students to businessmen in multiple countries about the basics of Bitcoin. Even others in my family have been involved with and contributed to crypto. My wife was one of the first employees at Bitpay, and my brother wrote one of the first Bitcoin books and is the co-founder of OpenBazaar. Come on.

Now, we've got two possibilities:

1. You simply didn't know that I've contributed to Bitcoin by growing the network and producing information that's reached probably 100,000+ people, but you're cool throwing around insults and alienating people
   
2. You knew this, but simply don't value contributions to Bitcoin other than code
   
   Either way is foolish and arrogant, and it's another demonstration that your high-level technical skills are not coupled with high-level social skills or systems-thinking.

Actually, almost every charge against me had been dropped by the prosecutor; the one that was pursued ultimately became "disorderly conduct" which was granted "time served"… but if you want to get technical then pretty much everybody is a criminal. I at least don't have a single speeding ticket / moving violation (on my record); but there again, I guess you're right that we're all criminals in this regard, too.

To your question, it involved confined spaces; I asked my boss for an attendant, as OSHA stipulations AND common sense demand… boss told me we were "understaffed all week - just do it anways."
Stupidly, I just "did it, anyways."

His demeanor and year of passive aggressive abuse was what my lawyer said I "had no chance of winning being a young white male."

Thanks for your intrigue.

Store over 5 years of full blocks for a whopping $155

https://www.amazon.com/dp/B01HD6ZLQ6/ref=cm_sw_r_sms_awdb_t1_xP76Ab98HBY98

The USB enclosure ones are cheaper $180 than the raw drives $210 which are no longer made but they're archive drives. Sometimes I get normal write speeds but sometimes I get 1 fucking megabyte per second. I'm currently transferring 8TB at 1 Mbps. Not worth it.

Edit: I bought 10 raw drives and 6 usb enclosure drives so it wasn't just a one time occurrence.

raw drive: https://www.amazon.com/Seagate-Archive-6GBps-128MB-ST8000AS0002/dp/B00XS423SC

I bought this version of the USB one: https://www.amazon.com/Seagate-External-Desktop-Storage-STEL8000100/dp/B01HD6ZLQ6

Sounds like ignorance to me. Get off Reddit and read a book.
Three Felonies A Day: How the Feds Target the Innocent https://www.amazon.com/dp/1594035229/ref=cm_sw_r_cp_api_WGG9BbXYK993P

> Primary concern - Block latency propagation and bandwidth

X-thin/Compact blocks

> Secondary concern - CPU and Ram

bitcrust

>Least concern - Hard drive space

Metcalfe's law... 8TB for less than $200 will be good at full 8Mb blocks for 3 years.

Also... you know about all this... so you are not being objective!

>"[Russian Central Bank Governor, Elvira Nabiullina's] gold buying makes me think she has read Saifedean Ammous’s The Bitcoin Standard: The Decentralized Alternative to Central Banking.  Don’t let the title fool you. This book is not the cover-to-cover crypto cheerleading/gold bashing other authors attempt to jam down our throats.  Dr. Ammous Is actually a Professor of Economics, and none other than “Black Swan” author Nassim Taleb wrote the introduction."

20 years. - 144mb per day = 1GB per or week = 50GB per year.

One of these will hold full 1mb blocks for 160 YEARS!!. for $200

https://www.amazon.com/dp/B01HAPGEIE/ref=twister_B00UWL08GI?_encoding=UTF8&psc=1

Miners are spending 10's of millions on hardware and we are worried about centralisation from blocksize

SECTION | CONTENT
:--|:--
Title | Bitcoin Q&A: Bitmain and the ASICBoost allegations
Description | ASICBoost and the allegations against Bitmain. What implications will this have on breaking the impasse between Bitcoin Core and Bitcoin Unlimited. I don't know if the allegations on covert mining are true, but we do know that there is an energy consumption advantage and Bitmain owns the patent for these chips. They claim they've only used them on the testnet but not the mainnet, 'for the good of the network.' However, if they didn't use it and won't use it, then they shouldn't mind if we disable it in a counter-optimisation. Covert ASICBoost threatens to derail protocol development. It's not a free market if this invention is patented under the threat of state force. The source of the drama for many actors in this scaling debate is about bruised egos, not scientifically supported arguments on the technology. This talk took place at the Silicon Valley Bitcoin meetup on April 11th 2017 at the Plug and Play Tech Center (@PlugandPlayTC) in Sunnyvale, California: https://www.meetup.com/Silicon-Valley-Bitcoin-Users/events/233760417/ RELATED: Can patent law slow down Bitcoin? - https://youtu.be/aGQKc-dQNC4 Proprietary editable blockchains & patent trolls - https://youtu.be/Pryy7n1a7UQ Am I in favour of activating SegWit? - https://youtu.be/9EEluhC9SxE Governance trade-offs in decentralised systems - https://youtu.be/dtwaW79Fj7c What is the biggest threat to Bitcoin? - https://youtu.be/1-XUbH1F0Os Could a state-sponsored 51% attack work? - https://youtu.be/KUd8ZGgm6Qo Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and well-respected figures in bitcoin. Follow on Twitter: @aantonop https://twitter.com/aantonop Website: https://antonopoulos.com/ He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters. THE INTERNET OF MONEY, v1: https://www.amazon.co.uk/Internet-Money-collection-Andreas-Antonopoulos/dp/1537000454/ref=asap_bc?ie=UTF8 MASTERING BITCOIN: https://www.amazon.co.uk/Mastering-Bitcoin-Unlocking-Digital-Cryptocurrencies/dp/1449374042 Subscribe to the channel to learn more about Bitcoin & open blockchains! Music: "Unbounded" by Orfan (https://www.facebook.com/Orfan/) Outro Graphics: Phneep (http://www.phneep.com/) Outro Art: Rock Barcellos (http://www.rockincomics.com.br/)
Length | 0:08:15






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> Which confirms our calculations, that data storage requirements would be huge (5PB). But at the same time he does state that it would cost around $200 per month. Now we did a quick search, but failed to find such a rig being offered at such low prices.

As I mentioned in the correction, 100 Mbps is (barely) enough to handle 30k tx/sec. 1 Gbps would give plenty of headroom. That's around $60-100/month right now, though availability is currently still limited.

You can buy a 32 core server with 128 GB of RAM for under $600 right now. SSDs cost about $150/TB, so a 50 TB of SSDs would add about $7,500. So that's $8,000 for the basic hardware. Amortize that over 5 years, and the HW costs are about $133/month. Add in the $60-100 BW costs, and you're looking at around $193 to $233/month with today's hardware prices

When I did this calculation 3 months ago, I think I was assuming that a home hobbyist user would just use prune=xxxxx and wouldn't bother storing the full blockchain, so I omitted it from my cost calculation. But I still included the HDD array for storing the blockchain in the text description. Oops, sorry. The HDD array is unnecessary and I shouldn't have mentioned it.

If you are looking to rent a dedicated server from a cloud provider, it's going to cost a lot more than this, of course. Datacenters with 99.99% uptime guarantees are expensive places, and are no place for a budget hobbyist node.

It's very common for regulators to talk with companies that don't fall under their legal jurisdiction and put extra-legal pressure on them anyway, because they can destroy a company and even put people in jail.

Even if they'd eventually win the case in the courts, most companies can't afford to defend themselves against that kind of attack. Not to mention, the laws of the US are so numerous and so broad that if the feds really want to put you in jail there's no degree of compliance you can perform that will make you immune from conviction. Everybody is guilty of something.

"Nice company you have here. It'd be a shame if something were to happen to it."

It's unlikely that Craig Wright is SN. Craig Wright wrote The IT Regulatory and Standards Compliance Handbook: How to Survive Information Systems Audit and Assessments, which is both sophomoric and riddled with grammatical errors. It's generally known that Satoshi did not make these sort of errors.

While Craig might have had something to do with Bitcoin around the time it was getting off the ground he almost certainly did not posses the cognitive capacity to develop bitcoin in 2008/2009, or currently. I believe it's more likely that he became involved between 2011 and 2013. Around that time he also started trying to leave a trail of digital bread crumbs that lead to him.

In the video of him at the panel he seems to be mistaking what bitcoin might eventually do—with changes to the protocol—and what bitcoin currently does. I'm referencing the argument between Craig Wright and Nick Szabo about turing completeness. In that conversation he also doesn't seem to understand the problem set that Ethereum is trying to solve; mistaking looping in fourth with Bitcoin's scripting language which is purposefully not Turing-complete as a feature—omitting a discussion about that is damning evidence. Not allowing loops makes Bitcoin scripts fully deterministic; and that allows you to know exactly when the code starts and stops and prevents the system from looping back on itself and crashing.

Even if Wright is correct, Ethereum is a global computer and executing loops by making calls to a separate stack brings in complexities that require the attention of a new focused and open project. It's precisely because of the many complexities that Ethereum makes sense. Also, framing the discussion as one where bitcoin and Ethereum are somehow in competition is absurd.

I have no doubt that Craig has a large vocabulary, but I'm calling bullshit. He should have been able to have a more intelligent conversation with Nick if he was Satoshi.

Finally, how? How can Satoshi be a reclusive genius and a self aggrandizing blow-hard. It makes no sense.