📅 Original date posted:2015-08-23 📝 Original message:That guy is going to ...

Hector Chu [ARCHIVE] /

npub170s…r45x

2023-06-07 15:49:28

in reply to nevent1q…m7u7

📅 Original date posted:2015-08-23
📝 Original message:That guy is going to easily make back his 150 BTC with interest, if he
is short BTC. Should be a clear signal for the market to trend lower,
probably below $180 by the time of the test.

On 23 August 2015 at 19:08, jl2012 via bitcoin-dev
<bitcoin-dev at lists.linuxfoundation.org> wrote:
> Someone is going to burn 150BTC to create a backlog of 30-day in September.
> https://www.reddit.com/r/Bitcoin/comments/3hgke4/coinwallet_says_bitcoin_stress_test_in_september/
> However, the money could be spent more wisely by encouraging mining of the
> first few big blocks
>
> Assumptions:
> 1. OP_CSV and BIP68 are enabled
> 2. Max tx size remains 1MB
>
> The donor will create a transaction, with an input of 150BTC, and 10
> outputs:
> 1. 0 BTC to "OP_RETURN <garbage>"
> 2. 42 BTC to "OP_1 OP_CSV"
> 3. 21 BTC to "OP_2 OP_CSV"
> 4. 10.5 BTC to "OP_3 OP_CSV"
> 5. 5.25 BTC to "OP_4 OP_CSV"
> 6. 2.625 BTC to "OP_5 OP_CSV"
> 7. 1.3125 BTC to "OP_6 OP_CSV"
> 8. 0.65625 BTC to "OP_7 OP_CSV"
> 9. 0.328125 BTC to "OP_8 OP_CSV"
> 10. 0.328125 BTC to "OP_9 OP_CSV"
>
> The first output will fill up the size to 1MB.
>
> This tx could not be confirmed by a pre-hardfork miner because the coinbase
> tx will consume some block space. The first big block miner will be able to
> collect 66BTC of fee. The block confirming the first big block will collect
> 42BTC of fee, etc. This will create a long enough chain to bootstrap the
> hardfork.
>
> The amount is chosen to make sure the difference is <25BTC, so miners would
> have less incentive to create a fork instead of confirming other's block.
> However, a miner cartel may launch a 51% attack to collect all money. Such
> incentive may be reduced by adjusting the distribution of donation.
> (Actually, such cartel may be formed anytime, just for collecting more block
> reward)
> _______________________________________________
> bitcoin-dev mailing list
> bitcoin-dev at lists.linuxfoundation.org
> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev

Author Public Key

npub170s9de2ganthnna75443h70tnsn2lvmcq5365r0juk8nfa93lthqwjr45x

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Published at

2023-06-07 15:49:28

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Event JSON

{ "id": "ea28b2358c002a701151a5f47fe1c08f43f0d44bb8918370862ebdd038a8bfd4", "pubkey": "f3e056e548ecd779cfbea56b1bf9eb9c26afb3780523aa0df2e58f34f4b1faee", "created_at": 1686152968, "kind": 1, "tags": [ [ "e", "8f7998ad486b7d23eeb9d14fa17d639e2538060fc4bdf067ba3236c26bd2aeb5", "", "root" ], [ "e", "d0b4e92bb26286e19aa17b07717029342556394e8ad3636b5379ac5897fa7386", "", "reply" ], [ "p", "b61e2e7ccbf4abd7f49715c62f4ac7a93cbdd5ead0316279c5f5fe9b18dd0aaa" ] ], "content": "📅 Original date posted:2015-08-23\n📝 Original message:That guy is going to easily make back his 150 BTC with interest, if he\nis short BTC. Should be a clear signal for the market to trend lower,\nprobably below $180 by the time of the test.\n\nOn 23 August 2015 at 19:08, jl2012 via bitcoin-dev\n\u003cbitcoin-dev at lists.linuxfoundation.org\u003e wrote:\n\u003e Someone is going to burn 150BTC to create a backlog of 30-day in September.\n\u003e https://www.reddit.com/r/Bitcoin/comments/3hgke4/coinwallet_says_bitcoin_stress_test_in_september/\n\u003e However, the money could be spent more wisely by encouraging mining of the\n\u003e first few big blocks\n\u003e\n\u003e Assumptions:\n\u003e 1. OP_CSV and BIP68 are enabled\n\u003e 2. Max tx size remains 1MB\n\u003e\n\u003e The donor will create a transaction, with an input of 150BTC, and 10\n\u003e outputs:\n\u003e 1. 0 BTC to \"OP_RETURN \u003cgarbage\u003e\"\n\u003e 2. 42 BTC to \"OP_1 OP_CSV\"\n\u003e 3. 21 BTC to \"OP_2 OP_CSV\"\n\u003e 4. 10.5 BTC to \"OP_3 OP_CSV\"\n\u003e 5. 5.25 BTC to \"OP_4 OP_CSV\"\n\u003e 6. 2.625 BTC to \"OP_5 OP_CSV\"\n\u003e 7. 1.3125 BTC to \"OP_6 OP_CSV\"\n\u003e 8. 0.65625 BTC to \"OP_7 OP_CSV\"\n\u003e 9. 0.328125 BTC to \"OP_8 OP_CSV\"\n\u003e 10. 0.328125 BTC to \"OP_9 OP_CSV\"\n\u003e\n\u003e The first output will fill up the size to 1MB.\n\u003e\n\u003e This tx could not be confirmed by a pre-hardfork miner because the coinbase\n\u003e tx will consume some block space. The first big block miner will be able to\n\u003e collect 66BTC of fee. The block confirming the first big block will collect\n\u003e 42BTC of fee, etc. This will create a long enough chain to bootstrap the\n\u003e hardfork.\n\u003e\n\u003e The amount is chosen to make sure the difference is \u003c25BTC, so miners would\n\u003e have less incentive to create a fork instead of confirming other's block.\n\u003e However, a miner cartel may launch a 51% attack to collect all money. Such\n\u003e incentive may be reduced by adjusting the distribution of donation.\n\u003e (Actually, such cartel may be formed anytime, just for collecting more block\n\u003e reward)\n\u003e _______________________________________________\n\u003e bitcoin-dev mailing list\n\u003e bitcoin-dev at lists.linuxfoundation.org\n\u003e https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev", "sig": "be5920ee306d735a39b0771b702d5db3c0b5ef918a786cf0232149ba241274b590618cc1081ebca23a3a2bc7853426b712f88322d277c7168e46bf4e11df3342" }