Juraj Bednar Profile picture
Option Plus podcast. Growing freedom. Serial entrepreneur (@hacktrophy, @paralelnapolis), crypto, liberty, it security, biohacking, lifehacking. https://t.co/ombIyYUjwb
13 Nov 20
How easy it is to "fork-off" from censors in #bitcoin? People commenting on my previous thread seem to think it's easy. Not so fast.

Let's start by explaining various types of consensus rules changes. You can make them more strict (also called a soft fork). A soft fork can be introduced by majority of hashpower, nodes have absolutely no say in a soft fork.
A successful continuous transaction censorship is a form of soft fork. A miner would never mine a block with a blacklisted transaction. If you run a verifying (full) node, you just see blocks that confirm to consensus rules and you don't know that someone is censoring.
Read 19 tweets
13 Nov 20
A small thread about Bitcoin censorship and why it probably does not need >50% hashrate.

Imagine you are a honest miner that likes Bitcoin. You create your own blocks, with transactions you choose (Stratum v2 for example).
You _know_ for sure that 10% of hashrate is censoring transactions according to publicly available blacklist of UTXOs. And they also orphan blocks that include censored transactions.
There is a new block ahead, with a blacklisted UTXO with high enough fee that you would include it in a block. The fee is 5 USD (~30k sats) higher than the next transaction that does not make it into the block. You would love to be a good Bitcoiner and include the tx. However...
Read 11 tweets
16 Sep 20
So you want to be free(er). There are a few stages of what people do when they realize this. It starts by being this in forefront of your consciousness. First stage is despair - I live in a non-free world. This law and that law limits my freedom. And often not only laws.
Then you start looking for ways out. Second stage is usually looking for loopholes. Yes, I have to pay custom duty if I import coffee, but if I roast it inside, the duty is lower. If I move my business somewhere else, the taxes are lower and so on.
Then you realize that these loopholes take a lot of time and they are constantly changing. Navigating them becomes as difficult as sailing from Europe to North America in a stormy night without stars. You are blind to the future.
Read 15 tweets