Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
Wind_FURY
on 21/08/2023, 11:48:15 UTC
No, my intention was to show technically how and why Bitcoin could be used for anything, read this write up by StopAndDecrypt, https://medium.com/hackernoon/bitcoin-miners-beware-invalid-blocks-need-not-apply-51c293ee278b

I read the whole article and it was super interesting and informative too. The result of that article which I concluded is: Anyone could make transactions, anyone could make blocks, anyone could do mining, blockchain does not care either those transactions or blocks have anything to do with good or bad purpose or use cases. All blockchain's nodes matters is of transactions is invalid then they will not send it to the next 8 peers and if one keep making invalid transactions then that address will be banned automatically to avoid spamming. And same mechanism goes for Blocks. Like people could make only heading or header name for a new block but to proof that either the work has been done or not the Proof of Work (POW) is confirmed by confirming the hash number with special numbers (special numbers that are used in the YT Video included in that article).

If the work is done, then the block is validated by nodes and the data is send to others for validation otherwise if it is invalid then it is not shared in the network. Overall, there is no single entity could judge why the transaction is being made but all that matters here is either the transaction or blocks are validated or following the rules or not if not then they will not be added if yes then they will be added. Please correct me if I took the conclusion wrong here.


More simply, and from Bitcoin's technical viewpoint - As long as the transaction follows the consensus rules, it will be broadcasted and it will be included in the blocks for confirmation. No prejudice, no stereotypes, just Bitcoin transactions that you may approve or disapprove of.

 Cool