Bitcoin Secret History: What did Satoshi Nakamoto and BM chat in Bitcointalk

Source: Hash Pie

Author: LucyCheng

In mid-2010, before Satoshi Nakamoto disappeared, not long after BM first came into contact with Bitcoin, the two had a head-on confrontation on the Bitcointalk forum; and Satoshi Nakamoto also left a classic to this day in this discussion. Quotes.

(Screenshots of discussions between BM and Satoshi Nakamoto on the Bitcoin Forum on July 28 and 29, 2010)

The cause of this is this. On July 22, 2010, Netizen Red launched a post hoping to discuss the scalability of Bitcoin with everyone. He said he was very curious how do you think of Bitcoin's scalability and performance. For example, can this system support 1 million users for 5 transactions per day? In other words, there are 5 million transactions per day, and about 3,500 transactions are performed every 10 minutes. Can the current performance of Bitcoin be affordable?

BM, who just registered as a forum member at the time, responded to this question, "With my understanding of economics over the years (then BM was about 27 years old), I think that under the current technical conditions there is only one way to solve the problem of blockchain. The problem of scalability is to establish a pricing system. Because broadband, CPU, memory, hard disks, etc. are very valuable hardware resources, we fully expect everyone to use their spare time to 'Bitcoin Mining' to obtain wealth, which will lock up In the future, there is room for innovation and development of blockchain, and we will embark on the road of mining at every turn. " Not only that, after expressing the view that bitcoin development has limitations, BM also questioned the 10-minute transaction confirmation time of Bitcoin. "The ten-minute confirmation time is too long for validating transactions. It should be It ’s as fast as swiping a credit card today. ”

(On August 4, 2010, bm's message screenshot on the Bitcoin Forum)

Satoshi does not seem to agree with BM's theory, and the latter also refuted points. First, Satoshi Nakamoto explained to BM the model that nodes can develop in the future. "In the current Bitcoin system, each user is a node of the network, but this does not mean that they are the future of the large-scale popularity of the Bitcoin system. Nodes … When the hardware configuration required to run a node is getting higher and higher, and the computing burden is getting heavier, the number of nodes will decrease accordingly, and the few remaining nodes will be those large The server farm (that is, the mine). In addition to the mine, the remaining users will become client nodes, and they will only be responsible for pure bitcoin transactions without having to assume the mission of generating new blocks. "

Regarding the doubt that the 10-minute transaction confirmation time is too long, Satoshi Nakamoto directly referred everyone who had previously talked about the "bitcoin snack machine" (for details, please see the discussion in the "Bitcoin Forum on" snack machine "| Bitcoin Secret History (8) 》) Tossed the discussion link to BM, and then left a sentence "If you don't believe me or don't understand, I don't have time to convince you, I'm sorry", so no reply to BM.

(Image source: Internet)

After reading the message, BM did not continue to argue, and also agreed, "In fact, I completely believe that you can achieve it, and after reading the post, I also reached the same conclusion as you, and there are no differences". Although he said so, from the perspective of BM's subsequent speeches and the projects he created later, he still seems to believe in the set he wants.

In fact, Satoshi Nakamoto and BM appeared three times under the same discussion post, but the other two did not confront each other. In both posts, BM expressed the idea of ​​building a "micro payment system" based on Bitcoin and faster transactions. Four years later, he realized that he created BitShares based on the DPoS mechanism, and at that time he attracted wide attention due to the characteristics of second-speed transactions. Of course, as everyone knows in the later stories, BM left BitShares and successively founded Steem and EOS; becoming the only blockchain entrepreneur in the field who can create three consecutive projects with a market value that can squeeze into the top 100, and is also the least likely to go. Stable founder.