1B7pmYRyb5PFZa93smmV1ZWeYcBagxjo86 ·
Just watched https://youtu.be/Do5DkAlOyuY with @292 and @343, found 'history book on BSV' intriguing.
Old vid but being thorough learning about BSV.
Question for you guys: does that not mean "I pay more money, I write (more) history"?
Sounds scary to me...
Replies
1JhKv5bs1wpHRYFAQS4qF5zhKfAnXAy2UL (200) ·
Not sure I understand the question. Can you rephrase?
1B7pmYRyb5PFZa93smmV1ZWeYcBagxjo86 ·
Thanks for reply @292!
In video at 02h03m you pitch the idea of writing important data to BSV that will later become provable history. If it's not on-chain, it didn't happen! I like that idea a lot, but inversely data being on-chain does not make it true.
1B7pmYRyb5PFZa93smmV1ZWeYcBagxjo86 ·
Writing data costs fees, so those who pay most fees write the most history. Just like huge media corps today sing in unison that which suits the puppetmaster but is not exactly truth. "History is written by the victors" all over again, but with e-money?
1JhKv5bs1wpHRYFAQS4qF5zhKfAnXAy2UL (200) ·
This is why lots of data matters. As a greater amount of data become available and audited, the easier it is to spot fakes and frauds. Writing data becomes cheaper with volume too. Important data may even be subsidized by foundations and institutions too.
1B7pmYRyb5PFZa93smmV1ZWeYcBagxjo86 ·
More data matters and reduces fees, but only per byte. More bytes always = more fees total. Also I'm very unsure which auditors, foundations or institutions to trust. Media today, so many factcheckers, which ones do I believe?!
https://youtu.be/AmKPbYbAnKE
1JhKv5bs1wpHRYFAQS4qF5zhKfAnXAy2UL (200) ·
Yes, and more fees total incentivizes more people to mine. Then there’s more people competing to secure the truth.
Trust whoever has the most proof of work.
1486QpNpWYjokSfc3DxChCQG6gS2cTvVpL ·
To have equal miner revenue with BTC, BSV needs 20,000x more fees, or cruising around 140,000 transactions per second for regular txs. So yeah some subsidy form big data dumps would probably be needed...
1JhKv5bs1wpHRYFAQS4qF5zhKfAnXAy2UL (200) ·
Somewhere between 1-3GB average block size is necessary to replace the subsidy. When that happens, lots of parties come mine BSV blocks.
1KKwemSCUDZSyQ1Bs7bqfCocE5fogkpKw1 (725) ·
lol the services will all have flopped well before one single gigameg of cat photos
1486QpNpWYjokSfc3DxChCQG6gS2cTvVpL ·
Subsidy irrelevant to my point. All else held equal (price/emission rate), if a BSV trx is N times cheaper (/ byte), there has to be N times as many (total bytes). So if BSV is 20,000x cheaper than BTC, you need 20,000x as many tps to get same revenue.
1B7pmYRyb5PFZa93smmV1ZWeYcBagxjo86 ·
When exactly do you think that average block size might come about?
1H9F8FJv6uJBb1kKufxqZwYshMaGQimYr3 ·
soon
1Kuzu6eq1YkDtBCgAk5LcjhviGGkW3xmHr (3795) ·
Well, unless btc price continues to rise...