our time chain is bitcoin and our vital rewards are new bitcoins released into the protocol, mined by electrical energy. we generally refer to this as proof of work, because that’s really what it is. no technical jargon, nothing more sophisticated than it seems. your weight loss plan and you lose 10 kilograms, that’s proof of work. you step in a puddle and your socks are soaked, that’s proof of work. Right now, bitcoin is essentially the most straightforward example of proof-of-work that humanity has ever experienced. its apparently alien structure is attractive. with the most elegant circulation of behaviors and incentives, invented in a masterpiece of work. But good things can’t last forever, can they?
Discussing the incentive model of bitcoin, he leaves behind some fascinating observations and interpretations that may take humanity beyond the realms of sound money and into a type three civilization. Let’s look at this for a moment and look at the community’s incentives to introduce new vitality into the system. when additional energy is released into the system (which is done by “mining”), the system rewards that behavior with a predefined amount based on the top of the block that was mined.
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nothing too fancy, we see that it starts with a reward of 5 billion satoshis (50 bitcoins), and every 210,000 blocks, it progresses until it reaches zero satoshis per block. and that? there is no incentive to supply additional blocks. therefore, the block 34 reward period ends at block 7,139,999. block 7,140,000 must have half zero because the block rewards if it had proceeded with the sample.
Let’s take a second to consider this. Keep in mind how invaluable a single satoshi can be sooner or later when it’s the only block reward. it can symbolize an absolutely gigantic amount of vitality. even when we assume that the community’s energy consumption never grew, it still means that it could have passed astronomically in that time limit because one satoshi would symbolize such an incredible amount of electrical energy. however, the truth is that the community will grow exponentially, and the amount of electrical energy represented by one satoshi will be almost all of the recognized usable vitality for humanity. a black hole of vitality. if we look at our reward graph more like a conical piece of energy, the representations are no different.
Think of each ring of our cones as a cycle of rewards. visually, it might look like the image below.
Just like we see in Einstein’s particular relativity with wormholes and energy, there is no difference here. strong sources of vitality that converge in single points of comment.
desiring the amount of vitality over time, we all know that future blocks will bring additional vitality over time. if the community is effective now because of its immutability, then it will always be more valuable tomorrow if its immutability does not change. it’s because bitcoin’s immutability is a composite property geared solely toward vitality over time. the block size, the total amount of bitcoin and the issuance cycle are the three properties that never change. additional updates that do not modify these properties protect immutability and therefore should be reachable.
the final block of the last vitality cycle
right here, 7,139,999 is a particular amount. because as a quantity in itself, it is a prime quantity. is the final prime quantity in this finite discipline measure (measured over several blocks). therefore, we are using a first-level quantity to symbolize this last moment of entropy within our system. the system situations change after this block, in a deterministic and objective way for all the observers within the system, that is, the members who make transfers of satoshis in bitcoin.
Let’s discuss the base layers of numeric values and the importance they hold. for these unknowns, wikipedia defines, “the digital root of a pure quantity in a given base is the (single-digit) value obtained by an iterative sum-of-digits strategy.” that’s necessary, because in the data, that’s the fastest path light can take to symbolize this data in the smallest possible capacity. let’s consider this trial in terms of entropy and how much entropy it produces. it means that the quantity 7,139,999 would be intertwined with that, and the quantity could matter. just like we hear the amount 21,000,000 and it instantly sparks the idea that we are thinking of bitcoin. so now we have all the entropy of this trial encoded in that quantity. like a thought in our thoughts, it goes from “scenes” or snapshots. You happen to see a purple car, and that takes you back to the first time you got in a car, and it was your aunt’s purple car that was pulled up. the entropy involved in “seeing a red car” is much more than just the red car. indeed, the prime quantity in this context, 7,139,999, is an illustration of this entropy at this writing. Just like web pages have backlinks, it’s pretty much the same as your thinking practice.
we will now draw an agreed meaning on this amount. it is the end of the current time chain as it is now, and its quantity and digital roots are prime numbers down to zero. this causes these factors to be geometrically associated in any environment. These are factors or ideas to reference the quantity and perceive its meaning.
what about block 7,140,000? so what happens?
a former wife’s story around a bitcoin design flaw. people think that because the bounty runs out, there is no such thing as a resolution available for longevity. we don’t want to change the amount of bitcoin, because that’s breaking their rules. ok, first we have to think, where does bitcoin go? they’re not abandoning protocol, they just won’t get up and walk away. to solve the motivation dummy, my proposal is to follow the sample outlined in thermodynamics for it.
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In thermodynamics, we see that this block collision behavior within a section house produces a predictable effect based mainly on the conservation of momentum and vitality. I highly recommend watching this video:
at block 7,140,000, we continue with the same amount of blocks, but instead of the protocol that rewards more bitcoins (which it won’t, because it’s already depleted), we plan, right now, the way we can go to donations to future civilizations.
We have now adopted the same sample for reward cycles, 210,000 blocks, but have reduced the reward by a ratio of 1 to 100.
When a miner would have gotten 50 bitcoins, now they get 50 million sats. instead of 25 bitcoins, they get 25 million sats, 12.5 bitcoins becomes 12.5 million sats, and so on. but there is still a problem here. we don’t have any extra bitcoin to hand over and we can’t exchange it, otherwise we break immutability. instead, we get the same consequence in another way.
so now our graph starts to look a bit like this once we put the elements together. we are sending bitcoin for the long term, from the past, in an effort to protect the long term. something like the other to fossil fuels. because we are giving our fossil (the timed satellites) at the end, at the finish line. like a map of an oil field that’s hundreds of years old, or buried treasure, it’s not entirely different.
That’s our wormhole. pretty clean, right? well, clearly we’re not sending a spaceship through it, but in theory, we’re sending something through it. what is that thing? effectively, it will be a personal key. because if we know that something will exist to a degree sooner or later, then we know that the time between now and that time must exist sooner or later.
The wormhole is opened using a cryptographic key, protected by the vitality of the community, and never by the obscurity of the characteristics of the important object. in this way, we move away from the need for it to be secured by obfuscation and the other to behave. meaning that the more people who hold this key, the greater the chance that the community’s longevity will end, due to the amount of energy it accesses.
mathematically, we’re trying to get back to the other side of a world where this lockdown will happen a few years from now. testing loads like a wormhole within a better energy field. primarily, it’s a toroid.
We see if this sample repeats over time; we stayed with a cyclical energy system, recycling your energy without emissions. congratulations to eric weinstein (who made this graph), you almost hit!
generate an op_hodl address for our blockheights, and they are locked with a personal key known to everyone.
here is an example to talk about.
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This deal was created using a personal key and locked the funds so they can be redeemed after block 7,140,000. therefore, it is a reward for anyone who is nearby when that block arrives. it’s just a reward if they can access this though: 50 hundred thousand sats. the non-public secret:
“wif”: “(non-public key: 5jmdszpsr8tnbkqhzpq1fkpccvyafe8uwhfeeznf1yl8saa9zr9)”,
“hex”: “(non-public key: 472ab2a7873f7703d94d90252a82988f766f520b002a9036fff663a0372e0003)”,
“string”:”(mind stores raw textual content: “1+1=3=pi”)”
You can see for yourself and you don’t have to believe me! mainly, the entry of this secret to an astronomical amount of vitality sooner or later.
now think about that same sample, for each block in the long run: because it’s 1 to 100 of the block reward, it means it might take a total of 210,000 bitcoins to double the block reward so it works like every block containing its own token utxo or more recently known as non-fungible tokens (nfts).
we block bitcoin following the same token at the next halving, which would be block 7,350,000, using this private key to get the general public key, and the hodl deal, could result like this: 3alzrjackukzypsdz75kscnzpycswsvjvm. therefore, it determines the expected behavior for that reward period.
repeating the method, we get to the next “halving”, which could be 7,560,000: 3aksgqktgxphtj1qd69xx8bukepl4ozmse. so we have received a 1:100 ratio with previous cycles, but now we assign a public bounty to keep the community going. generally, that’s investing 1% of the community, in an effort to preserve the community indefinitely for the rest of history. something like preparing an energy recycling plan, but for a problem more than 100 years from now. no matter what civilization looks like in that time limit, they will very likely have options for very difficult things in arithmetic and quantum techniques.
Which means that if we are able to donate energy over the long term, then the last piece of the puzzle is likely to function as large-scale machines that require infinite energy. having an energy system that is constantly recycled based on the known legal rules of thermodynamics in block collisions could be an energy preservation system. if something exists and is immutable, then it can be used for others as clues or hints that might help our civilization, because we are recording this information in this prime quantity for long-term civilization to find. numbers are a common canvas that everyone owns, the only distinction being the frequency (context) from which they view it. this non-public key, for example, is a quantity that carries a lot of entropy, so it is invaluable. if viewed from a numerical context, it is the decimal variety of what is important.
that’s the only explanation I can provide and I put most of this work on github.
is a guest post by michael dunworth. The opinions expressed are entirely my own and do not essentially reflect those of BTC Inc or Bitcoin Journal.
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