4/13/2020 #BITCOIN ZAP — 625,798

I asked myself if it’s a relic of some along history why is there a trillion dollars held in gold by the world’s central banks plus the IMF and all the other financial institutions? During the 2008 crisis people started become more aware of this when Bitcoin came around suddenly a whole new generation started to understand that the connection between money printing and the Fed and economic weakness and now I think it’s becoming mainstream knowledge that the problem is the Fed the problem is money printing the problem is central banks and until that problem goes away that expect more pandemics and more financial catastrophes. I will tell you what people need People need money lots and lots of money! That’s why the only job I’m gonna create are gonna be down at the mint. That’s right! We gonna print so much damn money I’m gonna give every single American $1,000,000. Ain’t gonna be no more 1%. Everybody’s gonna be million percent and everyone are gonna be rich and nobody gonna have any more problems ain’t gotta worry about no damn health care! Nothing! And then we gonna have a big-ass party with all those millionaires! As Dawkins describes it unless an exchange of favors is simultaneous and sometimes even then one party or the other can cheat and they usually do this is the typical result of a game theorists call the prisoner’s dilemma if both parties cooperative both would be better off but if one cheats he gains at the expense of the sucker in a population of cheaters the cheaters always win increased lines down I like those charts the Bitcoin versus B cash hash rate I use is that it well I I usually go to fork down le I like this one okay yeah that that works too it’s pretty simple but I kind of like it because you can also you know you can put Bitcoin against it and then you can barely see the be cash hash right yeah so obviously we have to just go to the last two years and it’s been a little longer than two years but two years is good be cash has now been with us how long is this plague been around two and a half now two and a half yeah I’ll guess first 2017 so that was more than two and a half years ago actually all right and look look what Bitcoin hash rate is and look for this disaster is yeah well because she’s great it’s it’s great look what we wouldn’t have jokes without be cash and he sends me another photo all right I want people to be able to see this photo like say okay so let me explain so it was reported on kuranda or something it was a website and they like a sort of HR website like job seeker website and it was huge it generated content so it was someone who actually said like 50 percent of Bitcoin comm was laid off so I don’t know how reliable that was but at the same time yeah it’s a time Roger said in an hour like an interview that they’re going for a legal approach we haven’t gone billionaire spending money like a donkey yeah roads yeah Stefan Russell the CEO of Bitcoin that come left or got fired or it was a guy who takes you know oh yeah right but but I guess make sense because it I think they’re losing so much money just because they have so many different things and no one’s using them they have the local Bitcoin which one uses and they have the Bitcoin exchange that no one uses you enter Satoshi Nakamoto the anonymous programmer who invented Bitcoin bitcoin is an open-source peer-to-peer payments software payment program with its own digital currency what that means is that Bitcoin payments are not in and of themselves backed or redeemed by anything other than bitcoins it’s not backed by gold or dollars or anything else so here are a couple key factors about Bitcoin that we’ll dive into more in detail number one bitcoin is open source number two bitcoin is a finite there’s a finite supply of bitcoins number three the verification of Bitcoin transactions is decentralized not centralized number four bitcoin was organically adopted and grew organically it was never promoted or forced on any group of people by any government and finally number five there is no single or central authority who has any control over the way that Bitcoin operates so we’ll start somewhat near the beginning I’m trying not to make too many assumptions about your level of understanding of Bitcoin but as many of us probably know there is no such thing as a Bitcoin there are just transaction outputs and those outputs can be either spent or unspent so why is interesting to think of us simplicity say Bitcoin scripts are constrained and security focused but they have expressiveness limitations and so what simplicity tries to do is to make the replacement next generation Bitcoin script system which is fully general so you can program you know generally arbitrary scripts and programs and it introduces introspection so that you can look at the context Bitcoin script today doesn’t have introspection generally but it doesn’t stop there you can actually have a wide variety of different conditionals and you can start creating much more complex scripts but a simple next step for example from a multi-sig escrow type of scripts would be some sort of escape hatch basically saying I’m gonna put my money into an escrow between three people and if for some reason they can’t come to an agreement to spend from it then after a certain amount of time the original owner of that money can just have a single signature to get their money back and the other thing to keep in mind is that the blockchain is just going to keep growing so you know there’s linear growth there and I think there has to come a point where you we say okay well we have to we have to stem this somehow because this thing is gonna if we want this to keep going on forever IBD time can’t scale with forever so we needed to truncate somehow and as you can see the start to become really complex one of the reasons I didn’t like the idea of implementing them was because it would it would use a lot more data on the blockchain it would make every single transaction in that wall a lot more expensive also there’s privacy implications it would be a fairly unique script and the nice thing though is that hopefully before too long we’ll have a solution for some of those privacy and scalability issues and we’ll be able to have much more complex scripts and and logical branches of scripts that are essentially hidden through tap root simplicity is very low level so it’s kind of functional a simpler language so I’m supposed to think of it as a kind of almost below a simply language that you would have on a CPU because its operating on bits and simple types and builds up even simple operations from those and we’ll show it show a few examples in a minute the point about having these very low-level operators is that the semantics are formally specified and that it’s a very small core language so there are only nine operators and some basic types and the point about having formal semantics is that then everything is fully defined and we can then use that as an input to be able to prove things about the script behavior in all conditions normally when you’re writing software you test it in all the ways you can imagine using it if you try to first test it so tray you know random things to see how well it performs but with a formal proof system you can prove things about how the scripts will behave in all possible conditions so you can sort of make statements about how or behave and then prove that that’s always the case this tech point has been around for ten years the longer it’s around the more likely it’s going to stay around I need to start thinking well maybe Bitcoin will be around for so long that I’ll actually be in a position where you know I want to hand down my Bitcoin inheritance to my children type of thing so it’s an exciting new frontier to get into you .