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.

threadreaderapp.com/thread/1327206…
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