Understanding the Bitcoin Whitepaper
Section One: The Introduction
Episode 1
31 oct 2021
by Kurt Wuckert Jr

https://www.youtube.com/watch?v=H2gfHYw1g8g
CoinGeek

Understanding the Bitcoin Whitepaper
Section 2: Transactions
1 nov 2021
by Kurt Wuckert Jr

https://www.youtube.com/watch?v=kLmWxXYAdSo
CoinGeek

@Ron Procaius

Technically, you’re not mining at home.

Rather, you are part of a pool. The pool runs a node and you contract to sell computational hash power to that node. Unless you have a few hundred million dollars’ worth of hardware at home you are not mining.

Running a node involves every step in section 5 of the White Paper.

People tell you that you are mining, but unless you are creating blocks yourself and propagating them, ordering transactions, validating transactions simultaneously in the block you are creating and not merely taking a hash puzzle from a pool, it is not mining at all.

In effect, you are an outsourced electricity provider and lessor of equipment to a mining pool on a short-term basis. The thing people don’t seem to understand is that the validation and ordering and propagation functions are not outsourced at all and these remain in the pool.

Consequently, it is really just a funding mechanism for the pool node.

I know people don’t like to hear this, but the truth is that there cannot be that many nodes in bitcoin and when you’re talking about miners it is very limited.

I am glad, technically, you are supporting that Pool in aiding in the validation of transactions.

So.

Team Gorrilla

😎😂

CSW
Nov 5, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1636112223143600?thread_ts=1636112223.143600&cid=C5131HKFX

https://t.me/CSW_Slack/3326

Owner. Owned, ownership.

These words are noted over 20 times in my White paper.

Possession.... zero

Currency, once.

But, that relates to fiat. Not bitcoin.

CSW
Nov 5, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1636120301163800?thread_ts=1636120301.163800&cid=C5131HKFX

https://t.me/CSW_Slack/3328

"Understanding the Bitcoin Whitepaper |
Section 5: Network"

https://youtu.be/M4MJnmUEMjQ

"Understanding the Bitcoin Whitepaper |
Section Ten: Privacy"

https://youtu.be/VyEZJYH8L7Y

I don’t mention identity or rather identities that often in my White Paper. I did in some of the earlier drafts, but they became too long. I think my earliest draft of the White Paper was sixty pages. That said, the section on privacy notes that identities are firewalled from the transactions. As such, it is very important to note that identity does exist in bitcoin.

In section 10, my White Paper has a figure that mentions the “New Privacy Model”. This section does not say that people are anonymous. The nature of pseudonymous exchanges requires identity. However, what you will see is that the public transaction chain is separated from the identity information. Those exchanging goods and services can also exchange identity. Additionally, there are methodologies for cryptographic forms of proof that will link identity off-chain and out of the public eye while maintaining the integrity of any information.

You will note that I say that bitcoin achieves a level of privacy. I do not state that it achieves complete anonymity. What I do say is that a trusted third party does not need your information. To think about this, you need to understand that there is no longer a trusted third-party fiduciary with information about the individuals who were exchanging. There are requirements for identity to be maintained directly, but that is separate from third-party exchanges.

You will also note that the system requires all transactions to be publicly announced. So if you read that section, you will see that we break the flow of information in another place. I do mention the word anonymous, but this is to do with pseudonymity. The public cannot link a transaction. As I note, it is similar to a stock exchange. In the ticker tape, only limited information is publicly made available. However, all of the information concerning the identity of the parties is known by the brokers and the owners.

Think about this in more detail. I’m referencing an analogy of a stock exchange and the ticker tape. The public information is the ticker tape, and that is analogous to the Blockchain. At no point will people believe that the stock market works without identity. The owners of shares are known. They may not be publicly announced, but that is not the issue in this section.

Silk Road was trying to create a system that was balanced in favour of the criminals.

The criminal got yo be private, but the victims (users) sold their identity to the criminals.

The user sends bitcoin etc, the criminals have your address and a proof of complicity. This lead to child exploitation, blackmail and worse.

CSW
Nov 15, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1636983026023800?thread_ts=1636983026.023800&cid=C5131HKFX

https://t.me/CSW_Slack/3430

I don’t mention identity or rather identities that often in my White Paper. I did in some of the earlier drafts, but they became too long. I think my earliest draft of the White Paper was sixty pages. That said, the section on privacy notes that identities are firewalled from the transactions. As such, it is very important to note that identity does exist in bitcoin.

In section 10, my White Paper has a figure that mentions the “New Privacy Model”. This section does not say that people are anonymous. The nature of pseudonymous exchanges requires identity. However, what you will see is that the public transaction chain is separated from the identity information. Those exchanging goods and services can also exchange identity. Additionally, there are methodologies for cryptographic forms of proof that will link identity off-chain and out of the public eye while maintaining the integrity of any information.

You will note that I say that bitcoin achieves a level of privacy. I do not state that it achieves complete anonymity. What I do say is that a trusted third party does not need your information. To think about this, you need to understand that there is no longer a trusted third-party fiduciary with information about the individuals who were exchanging. There are requirements for identity to be maintained directly, but that is separate from third-party exchanges.

You will also note that the system requires all transactions to be publicly announced. So if you read that section, you will see that we break the flow of information in another place. I do mention the word anonymous, but this is to do with pseudonymity. The public cannot link a transaction. As I note, it is similar to a stock exchange. In the ticker tape, only limited information is publicly made available. However, all of the information concerning the identity of the parties is known by the brokers and the owners.

Think about this in more detail. I’m referencing an analogy of a stock exchange and the ticker tape. The public information is the ticker tape, and that is analogous to the Blockchain. At no point will people believe that the stock market works without identity. The owners of shares are known. They may not be publicly announced, but that is not the issue in this section.

Silk Road was trying to create a system that was balanced in favour of the criminals.

The criminal got yo be private, but the victims (users) sold their identity to the criminals.

The user sends bitcoin etc, the criminals have your address and a proof of complicity. This lead to child exploitation, blackmail and worse.

CSW
Nov 15, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1636983026023800?thread_ts=1636983026.023800&cid=C5131HKFX

https://t.me/CSW_Slack/3430

"By March 2008, Wright testified, he had a handwritten version of what would become the bitcoin white paper. He reduced that to a 40-page typed version, then a 20-page version, then a 10-page version, which is what he sent Dave Kleiman, he said"

Kleiman v. Wright: Craig Wright Takes Stand Again in Final Day of Testimony.
Deirdra Funcheon
Nov 23, 202

https://www.coindesk.com/business/2021/11/23/kleiman-v-wright-craig-wright-takes-stand-again-in-final-day-of-testimony/

The Great Wiping Controversy.pdf

"Origins of the Bitcoin Whitepaper - Neo4j Tutorial on Digital Forensics and Document Fingerprinting" en YouTube
https://youtu.be/FdQV9ZudZzA

Wright's 'Bitcoin Bible' Copyright Win Slips Challenge - Law360
https://www.law360.com/articles/1449017/wright-s-bitcoin-bible-copyright-win-slips-challenge