slide, The original method was flood Control] [Note: the following seems to be about transaction fees.] Bitcoin... I've got lots of people saying this is bullshit. It's in the code: flood control. It worked. Why? Because of the value of it. It didn't work way back then, and people could've done these things, and Hal and Bear go their way and put this bloody cap in there. Quite frankly, I'm disgusted with half the community. Anyone know who Bear is? Bear is Cryddit; that's his name on Reddit and whatever else. Bear was the third person involved, properly running nodes and whatever else. You can look up who he is; he's a friend of mine. So... One of the things that happened to him. He came on and started talking. Mr. Maxwell, others, ripped the shit out of him and he's gone back to being curmudgeon like I like being. He doesn't talk; he doesn't get involved anymore---and he's a shit hot coder. Better than anyone I have met in any of the core areas, by far, and he's no longer involved. Not because his ideas are shit but because people didn't like what he was saying; made death threats against him; added things against his family. That's got to change. Flood control works. If you are getting a big block and someone's paying you to put transaction in there because we want 5 billion people using this, which miner is going to turn it away? If you get paid a little tiny amount per transaction, then you buy another hard drive and you take it. This is capitalism. It is competition. It is brutal and ruthless and it works. If you can't keep up, bye-bye. Segregated Witness, typical problem right now in this bloody industry. Scientific method: it doesn't exist. We just tell people, "this is what you're going to do." When you want a scientific process, you come up with an idea and then you test it. Removing incentives. What incentive is there to be a miner of a little bit of a shitcoin settlement for everything else when you're getting money from everyone? How does Coke make money sugar water? They do it because volume. They don't make huge profit because charging you 99% of the can. They make a fraction of a cent on every can, but they sell a lot. Miners what to make money, then velocity matters. Velocity of money scales the price. If you increase use, you double right now bitcoin, and velocity formula tells you that you 2 times .94 with the inflationary amount times the value. If you scale 100 times, price from velocity alone increases 94 times. What miner will not take a hundred times the block size if they one hundred times the fees? Any miner here [want to] say, "piss off, I don't want a hundred times the amount of value from bitcoin"? No? Ok. Overall, every time we split into sidechains, we take away a little bit about what secures the network. Every time we do that, it becomes less secure. Every time we create an altcoin, less secure. Every competing option that takes something from the overall network makes this one, once in a lifetime, once in any part of history, experiment less viable. Bitcoin differs in that it's the only scarce good that has truly existed. Gold wasn't. Gold has been manipulated, changed, et cetra. Gold has been flooded. After the Spanish came and discovered the Americas, or rediscovered really, there was something called the rain [or reign] of gold and the rain of silver. Ships, big galleons, would come in and deposit all the silver and gold they'd taken, and within weeks it was all gone. No industries were build, just luxuries. And that's the difference. As soon as you start inflating things, soon as you start changing it---allowing sidechains---then, well, you take everything that matters away. Selfish mining: a lot of these problems started because of that. We got a paper coming out soon. It's gone through editing and all the rest. There are several versions because my mathematical version is going to scare the shit out of everyone because I actually happen to be a mathematician; a scary word that. Basically it's flawed premises. Bitcoin is not a Poisson model; it approximates a Poisson model. When we h