While most people know about Mr. Nakamoto's creation of bitcoin, little is known about his posts

"Most people only know satoshi nakamoto created bitcoin, but little is known about his posts"
Block chain in vernacular

Every time we talk about BTC, BCH and BSV, many people will dismiss the latter two for the reason: why should bifurcated COINS claim the name "bitcoin"?

Others question whether the ship of Theseus, tinkering along the way and replacing every plank on board, will be the same ship as when it started? BTC has been slightly modified since Core took over, is it still the BTC that satoshi nakamoto envisioned?

Today, let's put aside the battle of ideas and just say the word "bitcoin."

Surprisingly, the vast majority of investors, even many bitcoin "believers," have not read the bitcoin white paper, let alone Mr. Nakamoto's early posts on the Bitcointalk forum. As a result, many people have the wrong or deviant impression of bitcoin or satoshi nakamoto. For example, many online articles mentioned that "satoshi nakamoto did not anticipate the birth of ASIC mining machine".

Of course, the original design of satoshi nakamoto, there are many mistakes, need to be corrected by future generations. But at least we need to know what nakamoto was thinking in the first place.

The core of Mr. Nakamoto's vision is contained in the bitcoin white paper, which focuses on his key early comments on the Bitcointalk forum.

Full node problem

This may be the root cause of the separation of BTC from BCH and BSV. The large block is more of an appearance, and the deeper problem is who can run the whole node.

The main idea of the post is as follows:

"Every user is the network node of the current system is not standard after expansion, it's like every Usenet as undesirable users to run their own NNTP server. The design support for users to become, the more the burden of the node, the node is the less. The final will be a large server cluster nodes, the rest will be perform transactions not only generate client node."

Then below the post, someone asked (this person is now EOS founder BM) : "cong, is your verification payment ten minutes too long? This thing has to be as fast as credit card today!"

Go check out my "snack machine" post, and I outline how the payment processor can verify payments well enough in 10 seconds or less, and actually very well (with a much lower fraud rate than credit CARDS). (we'll talk about the "snack machine" post below)

"If you don't believe me or understand me, I don't have time to convince you. I'm sorry."

Later, BM responded with a post indicating "recognition" :

In fact, I totally believe you and came to the same conclusion after reading your post. I read the post about Snackmachine after my previous reply.

02 ASIC miner with SPV

This is actually a continuation of the previous problem,Satoshi nakamoto may have designed or promoted the concept of ASIC, but he did not anticipate the emergence of such an extreme mining machine.

Main idea:

The design Outlines a light client that does not require a full blockchain, called simplified payment verification. Light clients can send and receive transactions, but cannot issue blocks. It does not need to trust the node to verify the payment; it can still verify the payment itself. The light client is not yet implemented, but the plan is to implement it when needed.

Now, each person runs only one full network node. I don't expect more than 100,000 nodes, maybe less. It will reach a balance in which more nodes cannot be added. The rest will be light clients, which could be in the millions. At a balanced size, many of the nodes will be clusters of servers, with one or two primary nodes connected to other servers via the LAN.

So it's true that satoshi nakamoto didn't anticipate the birth of ASIC, nor did he.

Strictly speaking, nakamoto was not expecting an ASIC implementation that would run on thousands of PCS or servers. But this kind of computing force cluster, which is more efficient than CPU or GPU, is thought of and described by satoshi nakamoto, and its core concept is essentially consistent with today's major ASIC pools.

About the SPV, satoshi nakamoto also posted a post that went something like this:

Not only the download, but the main thing is that it takes a long time to verify all the signatures in all the blocks. How long does the initial block download usually take? Did it slow down the next half or did it slow down the whole way? I've come up with a more straightforward way to check the chain, down to the last few thousand pieces, but it's time consuming and there are other, more important things to deal with.

Simplified payment verification is applicable to lightweight client-specific users who only make transactions and do not generate or participate in the node network. They do not need to download blocks, but just download the hash chain, which is currently about 2MB and is very fast (verifying the whole chain in less than a second). If the network becomes very large (more than 100,000 nodes, for example), this is what we will use to allow ordinary users to transact without becoming full nodes. At that stage, most users should start running only the SPV client software, and only the professional server pool can continue to run full network nodes, just as the Usenet network does.

SPV is not yet implemented, and won't be anytime soon, but all current implementations are designed around SPV support.

Part 8 of the bitcoin white paper is a brief introduction to the SPV, which can be read by interested parties.

In a nutshell, an SPV is a technique that allows users to verify payments without running full nodes, simply by saving all the block headers.Users won't validate transactions on your own, but from block chain somewhere if you can find a match, will know that the deal has been approved by the network, and obtained the network many confirmed that SPV is dry "payment verification", only to "pay" if the deal is validated, and got much work force to protect confirmation number (how many blocks), rather than a full node "validation" (involved to verify whether there is enough balance to spend, whether there is a double flower, the script can pass, etc.).

Most of the bitcoin "light wallets" currently on the market have borrowed the idea from the SPV, but they are not real SPV wallets, is more like the front end of a block chain browser plus the function of saving the private key to sign, which cannot be verified by itself, and needs to connect to other full nodes, unlike the SPV, which can achieve decentralized independent verification.

BTC insists that individual users can run full nodes, so SPV will not be developed in large probability. However, SPV is an extremely important technology for BCH and BSV, so I believe that the near future will see the emergence of mature SPV version of wallet.

03 "snack machine"

This is a question about how bitcoin can be confirmed in a very short period of time, confirmation is not 100% complete confirmation and the transaction is irreversible, but "good enough", good enough to even lower than the credit card failure rate.

The "snack machine" comes from a post by someone saying how would a bitcoin version of a snack machine (no vending machine) work? No one wants to wait an hour for a deal to be confirmed, and snack machine doesn't want to give away so many free snacks.

Cong replied:

I believe that payment processing companies can provide fast transaction publishing services in 10 seconds or less through "good enough" checks.

Network nodes only accept the first version of the proposal to incorporate it into the block they are trying to generate. When you broadcast a deal, if other people broadcast a double flower at the same time, it becomes a speed race to the most nodes. As soon as one side has a slight lead, it will propagate through the network faster at a geometric level and gain the approval of most nodes.

Rough example:

4  1
16  4
64  16
80%  20%

So even if a double flower had to wait a second, it would be at a huge disadvantage.

The payment processor is connected to many nodes. When it gets a deal, it sends it quickly and monitors the network for double flowers. If it receives a double flower on any of its many nodes, it warns that the transaction is wrong... Double-flower deals will not spread far. Double-flowerers will have to wait until the listening phase is over. But by then, the broadcast of the payment processor has reached most of the nodes, or is so far ahead in terms of propagation that the double spenders have little hope of capturing most of the remaining nodes.

Zero confirmation is also a problem that has been studied a lot on BCH and BSV, and there are still not many businesses to support it.Although zero validation makes technical sense, in the minds of the vast majority of people, a transaction that is not confirmed will always feel unsafe. BTC is unlikely to go this route, since zero verification and lightning networks are not the same thing.

The future of bitcoin: what will it look like in 20 years?

Here are just a few excerpts from a series of posts by Mr. Nakamoto outlining his vision for the future of bitcoin:

The nature of bitcoin is that once version 0.1 is released, the core design remains unchanged throughout its life cycle. So I wanted to design it to support every possible type of transaction I could think of. The problem is that everything needs special support code and data fields, whether used or not, and only one special case is involved at a time. This is going to be a special case explosion. The solution is scripts...

The payment recipient makes a template match on the script. Currently, recipients accept only two templates: direct payments and bitcoin addresses. Future versions can add templates for more transaction types, and nodes running that version or later will be able to receive them...

This design supports the various types of transactions I designed many years ago: managed transactions, bonded contracts, third-party arbitration, multi-party signatures, etc. These are things we'll explore in the future if bitcoin comes flooding in, but they all have to be designed in the beginning to be usable later.

I believe most people are familiar with this sentence:In a few decades, when block rewards have all but disappeared, transaction fees will be the node's main source of revenue. I'm pretty sure that after 20 years, the number of transactions on the chain is either very large or not.

From the perspective of satoshi nakamoto's vision, both the custody transaction, the support of bonded contracts and the number of transactions on the chain are likely to be different from the current BTC.Electronic gold storage + lightning network"Is the polar opposite.

Of course, as the article begins, it is a matter of opinion whether Mr. Nakamoto's vision is right or wrong. The purpose of this article is to show some of satoshi nakamoto's ideas.

After all, the ethereum that V had originally envisioned as a world computer had accidentally evolved into a Token machine and was now the DeFi clearing layer, and the dream of a world computer had long since departed.

BM originally envisioned the EOS as the Enterprise Operation System (EOS), but now it's the "spinach" chain.

So, from this point of view, BTC in the eyes of satoshi nakamoto is not electronic gold, but the development of development, it is inexplicably "electronic gold".

The original link:https://mp.weixin.qq.com/s/F_BZoCFxR_amxzFSqS89mw

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