WARNING: There are a number of scammers who are using my image and channel name to try to connect with my viewers on WhatsApp and other platforms to scam them. Just so you know, I will never refer you to "my personal trader" or try to connect with you personally to sell you something. I am trying to ban these scammers as quickly as they pop up. You can always recognize a scammer by clicking on the image and seeing how many videos he has. All of these guys have zero videos, while I have hundreds. I also now have a checkmark next to my name, so that you can distinguish the real Bitcoin University from the imposters. Follow me on Twitter @mattkratter
A bit over my head but I just wanted to let you know that my wife recently said that she is glad that we have Bitcoin. This change of heart is a big deal and I will add that it is mainly due to me continually mentioning your videos. She knows you as "My Bitcoin guy". 🙏🏽
My wife is the same but won't buy it herself. The plummer was here this morning and I explained as much as I could but he won't buy. These people will be priced out soon and be very sorry in the future.
@@yentasbagels(Semi) Orange pilling one's spouse is already a major achievement. Don't sweat about the plumber. To date, I am yet to convince anyone else. But Matt's channel keeps growing and once critical mass is reached everyone will be onboard. 🤛🏽
Im very transparent with my wife when it comes to our money and investments, but shes never been that interested in it. The other day my wife and I was in the city. She had been looking in stores and made the point that prices just seems to be going up and up on everything and its not stopping. I said "Its not prices going up, its that our money is worth less, which is why Im putting it into Bitcoin". It was almost like something clicked and she understood what I had been trying to tell her in the past, and responded with "well thats good we do that then".
I'm happy that Robin Linus found the way to BTC (hopefully). Please keep in mind that he was the founder of Nimiq (NIM) and deluted all shareholders. The Nimiq channel with the original Videos from 2017 are still up here on YT.
Personally I would love to see a really decentralised (and censorship-resistant) alternative to TH-cam built on Bitcoin smart contract layer some day...great video content as always Matt!
This is a really big deal. Thank you for covering it and explaining it in a way us non-programmers can understand. Bitcoin just gets better while the ship coins get more shippy.
I dont claim to fully understand BitVM but my gut instinct tells me that its a huge breakthrough for bitcoin adoption. Kind of like a dagger to the heart of Eth and the others.
As always, thanks Matt for bringing us the latest news in a content rich, systemized, non biased way. Orange pilling the masses and keeping the rest of us informed. And sane 😂
(Jean-Claude Carriere's version of the Mahabharata, filmed by Peter Brook) Krishna to the dying Duryodhana: 'All that you say is false. And your only assassin is yourself. (..) No good man is entirely good. No bad man is entirely bad. Duryodhana, I salute you. I do not find any pleasure in your suffering. But your defeat is a joy.' Matt Kratter reflecting on the demise of Ethereum...
In your typical computer science syllabus, you will have a Digital Logic course. This is where you learn about NAND gates and how to build half-adders and adders which all lead to a complete CPU architecture. The math is actually quite simple. In fact, it predates computers. Just simple Boolean Logic.
Did exactly that in a digital electronics course. Speaking of that Bitcoin layer one reminds me of a kernel , leaving the risky stuff to ordinary users.
As a computer program uses logic as well, your comparison for circuits apply there as well. We use the exact same logic an symbols for it too, in application development / programming.
One potential unintended consequence of this will be that future shipcoin scams can be built in BitVM and verified on Bitcoin. This could lead to perverse incentives being created in those shipcoin protocols for the Bitcoin miners at the base layer, causing them to prioritize transactions associated with challenges and responses over normal payment transactions and thus clogging the network. I'm not sure if they are distinguishable from normal transactions though (something I plan to dig into). Hopefully not, but I'm not sure how one would go about enforcing obfuscation from the miners.
Maybe I'm wrong about this, but I feel like it's odd to use the example of NAND gates to explain why Bitcoin is turning incomplete, because I don't think the lack of NAND gates is causing bitcoin to be turning incomplete. You could easily run Bitcoin scripts on your computer, which should utilize NAND gates. In fact a NAND gate is just an inverse AND gate, so you could achieve the same result by using two gates, a NOT gate then an AND gate. AND gate is: if given two inputs and both of them are true then the output is also true, any combination of inputs that contains a false will return a false output. NAND is just !AND. What causes Bitcoin to be turning incomplete is its inability for scripts to loop (which is a software limitation, not hardware). Meaning it prevents the script from doing repetitive computations. I view this as basically a time constraint on the compute power of a Bitcoin script. Limits you to only basic functions like read/write, simple mathematics (add, subtract, multiply, divide), etc. This prevents scripts from running long or infinitely. An example of a loop is X=0; While X is less than 100: X=X+1; Since the computer doesn't know how many times it needs to add 1 to X in order to reach the goal of 100, it will run the operation indefinitely (hypothetically forever) until it hits the goal. This, the ability to re-run the same operation until the goal is achieved, with no regard for time or memory constraints, is what separates turing complete from turing incomplete. If a machine is turning complete then it can, in theory, solve any solvable problem. Obviously Bitcoin doesn't need to solve any problem, just a few simple problems like sending, receiving, and securing. Limiting the time and memory used in these transactions makes Bitcoin much more useful as a currency. It's been a while since I learned about automata but I think this means that Bitcoin scripts are Deterministic and Finite (might be wrong, please correct me if you know better). Sorry for the screed, it just feels odd to use hardware examples to make a point about software decisions. It felt a bit more confusing than the actual explanation. Like if you aren't familiar with turning completeness or loops anyways, NAND gates aren't going to be much more helpful. Using NAND gates feels a bit hand-wavey and inaccurate.
I think this gives confirmation to Jason Lowery’s theory that Bitcoin’s as a form of power projection would be used to provide a non-Turing based form of computational and network security.
Hi Matt. It would be interesting to make a video about what BitVM means for altcoins. Many claim they add functionalities beyond what BTC does. Is this true now that BitVM is around?
love your videos ! always watch and learn so much. I assume bsv is touring comlplete with bigger block size and their encouraging building and doing everything on the base layer. whats cons of this
Unrelated to the video topic but i have to ask this qestion to you Matt. Wouldn't switching to quantum resistant signature types make transaction size significantly bigger? What i have found is that there is just no way around that. So either we will process much less transactions or we will come to agretment with larger block sizes. This i imgagine would be a huge mess and would likely make Bitcoin less decentralised (as there will be much less people that are able to run a full node) or a lot slower (like more than 10 times slower if block size were kept at todays level). Why is nobody talkig about this?
I've never seen any evidence that a QR signature type would take up more space than the current BTC signature types. But even if it did, it wouldn't be a problem because that data would end up in witness part of the block, rather than the transaction part. Blocks would still be capped at 4 MB max
@@Bitcoin_University arxiv.org/ftp/arxiv/papers/2112/2112.00399.pdf ("one typical difference between PQC and ECC is larger keys or signatures."). You might wanna take a look at the table included in this article as well - arxiv.org/pdf/1710.10377.pdf You've made a good point with the segwit but it's still a very relevant issue.
Hey Matt, could you do a video on using BTC as a alternative of a traditional 529 plan. I am 24 years old and I would like to start putting away for my future children’s education (not married yet but will be in the future). I would love to hear your input on this. Thanks a lot
It'll be interesting to see what gets built with this. But I think one of the largest value points we're seeing right off the bat is the BS attack surface is shrinking. As various issues/features are addressed and solved off chain, there is less for alt-coins to boast about, thereby decreasing their opportunity to attack.
i have a question that coming to my mind recently. Would it have any impact on Bitcoin, if Satoshis Wallet with 1 mio. Bitcoin in it transfers some of it to another wallet?
Matt, can you explain or comment on the vulnerabilities to the Lightning Network recently raised by Antoine Riard? CVE-2023-40231 / CVE-2023-40232 / CVE-2023-40233 / CVE-2023-40234 "All your mempool are belong to us”
WARNING: There are a number of scammers who are using my image and
channel name to try to connect with my viewers on WhatsApp and other
platforms to scam them. Just so you know, I will never refer you to
"my personal trader" or try to connect with you personally to sell you
something. I am trying to ban these scammers as quickly as they pop up. You can
always recognize a scammer by clicking on the image and seeing how
many videos he has. All of these guys have zero videos, while I have
hundreds. I also now have a checkmark next to my name, so that you can distinguish the real Bitcoin University from the imposters. Follow me on Twitter @mattkratter
A bit over my head but I just wanted to let you know that my wife recently said that she is glad that we have Bitcoin. This change of heart is a big deal and I will add that it is mainly due to me continually mentioning your videos. She knows you as "My Bitcoin guy". 🙏🏽
That's so cool-- glad that I could play a part
My wife is the same but won't buy it herself. The plummer was here this morning and I explained as much as I could but he won't buy. These people will be priced out soon and be very sorry in the future.
@@yentasbagels(Semi) Orange pilling one's spouse is already a major achievement. Don't sweat about the plumber. To date, I am yet to convince anyone else. But Matt's channel keeps growing and once critical mass is reached everyone will be onboard. 🤛🏽
It’s insane we can have access to your knowledge daily. Thank you again for everything you do !!
Im very transparent with my wife when it comes to our money and investments, but shes never been that interested in it. The other day my wife and I was in the city. She had been looking in stores and made the point that prices just seems to be going up and up on everything and its not stopping. I said "Its not prices going up, its that our money is worth less, which is why Im putting it into Bitcoin". It was almost like something clicked and she understood what I had been trying to tell her in the past, and responded with "well thats good we do that then".
Can't for the life of me figure out why you don't have at least 500k subscribers - you put out the best content IMHO.
this is, IMO, the best Bitcoin education channel in existence.
what you're doing for bitcoin adoption is invaluable.
Thank you
great follow up. Constraint drives creativity.
As software developer I am excited to see more about BitVM
There is lambda protocol that is currently working on this, check it out
I'm happy that Robin Linus found the way to BTC (hopefully). Please keep in mind that he was the founder of Nimiq (NIM) and deluted all shareholders. The Nimiq channel with the original Videos from 2017 are still up here on YT.
Very interesting. . . I was not aware
Personally I would love to see a really decentralised (and censorship-resistant) alternative to TH-cam built on Bitcoin smart contract layer some day...great video content as always Matt!
I think it's going to be built on Nostr
It is currently being built on lambda protocol, check it out
Your videos help me continue my education with ease, thank you for sharing the info from all of the time you put in.
MORNING 🌄 MATHEW, LOVE YOUR CHANNEL, THANKS FOR SPREADING THE SIGNAL ❤
Thank you!
You got me excited to watch this after your vid yesterday. I never heard of BitVM until you brought it up
So much being built on Bitcoin these days that it's getting really difficult to keep up
This is a really big deal. Thank you for covering it and explaining it in a way us non-programmers can understand. Bitcoin just gets better while the ship coins get more shippy.
I am too old to focus on these technical details. I just take your word for it😊
Thanks for the education on bitcoin over the past couple of years. Much appreciated.
Thanks for the taking the time to summarize this important achievement, very helpful
I dont claim to fully understand BitVM but my gut instinct tells me that its a huge breakthrough for bitcoin adoption. Kind of like a dagger to the heart of Eth and the others.
🎉 great video as always. Interesting to see such great offchain inventions.
Learn a lot from your channel. Thanks! Continuing to stack sats.
So… uh… will this make the number go up?
Yes, probably
As always, thanks Matt for bringing us the latest news in a content rich, systemized, non biased way. Orange pilling the masses and keeping the rest of us informed. And sane 😂
Go BTC 🧡
Thanks buddy
(Jean-Claude Carriere's version of the Mahabharata, filmed by Peter Brook)
Krishna to the dying Duryodhana:
'All that you say is false. And your only assassin is yourself.
(..) No good man is entirely good.
No bad man is entirely bad.
Duryodhana, I salute you.
I do not find any pleasure in your suffering.
But your defeat is a joy.'
Matt Kratter reflecting on the demise of Ethereum...
I love it
I can send you the three movies if you want to make a deep dive. @@Bitcoin_University
In your typical computer science syllabus, you will have a Digital Logic course. This is where you learn about NAND gates and how to build half-adders and adders which all lead to a complete CPU architecture. The math is actually quite simple. In fact, it predates computers. Just simple Boolean Logic.
Did exactly that in a digital electronics course. Speaking of that Bitcoin layer one reminds me of a kernel , leaving the risky stuff to ordinary users.
As a computer program uses logic as well, your comparison for circuits apply there as well. We use the exact same logic an symbols for it too, in application development / programming.
Thanks for lesson prof ❤❤❤ thanks to answer about bitvm
This is groundbreaking work
Yes, just amazing to see what people come up with
Love it. Can’t wait to see first demos
A bit technical for me but Frost’s tennis analogy is nice!
Tnx
Thanks as always for this video. Good information.
One potential unintended consequence of this will be that future shipcoin scams can be built in BitVM and verified on Bitcoin. This could lead to perverse incentives being created in those shipcoin protocols for the Bitcoin miners at the base layer, causing them to prioritize transactions associated with challenges and responses over normal payment transactions and thus clogging the network. I'm not sure if they are distinguishable from normal transactions though (something I plan to dig into). Hopefully not, but I'm not sure how one would go about enforcing obfuscation from the miners.
Great points
Thank you for your explenation. I was wondering BitVM. It is still a little complicated but I will figure it out:)
Quality as allways Matt🧡 thank you
Maybe I'm wrong about this, but I feel like it's odd to use the example of NAND gates to explain why Bitcoin is turning incomplete, because I don't think the lack of NAND gates is causing bitcoin to be turning incomplete. You could easily run Bitcoin scripts on your computer, which should utilize NAND gates. In fact a NAND gate is just an inverse AND gate, so you could achieve the same result by using two gates, a NOT gate then an AND gate. AND gate is: if given two inputs and both of them are true then the output is also true, any combination of inputs that contains a false will return a false output. NAND is just !AND.
What causes Bitcoin to be turning incomplete is its inability for scripts to loop (which is a software limitation, not hardware). Meaning it prevents the script from doing repetitive computations. I view this as basically a time constraint on the compute power of a Bitcoin script. Limits you to only basic functions like read/write, simple mathematics (add, subtract, multiply, divide), etc. This prevents scripts from running long or infinitely. An example of a loop is
X=0;
While X is less than 100: X=X+1;
Since the computer doesn't know how many times it needs to add 1 to X in order to reach the goal of 100, it will run the operation indefinitely (hypothetically forever) until it hits the goal. This, the ability to re-run the same operation until the goal is achieved, with no regard for time or memory constraints, is what separates turing complete from turing incomplete. If a machine is turning complete then it can, in theory, solve any solvable problem. Obviously Bitcoin doesn't need to solve any problem, just a few simple problems like sending, receiving, and securing. Limiting the time and memory used in these transactions makes Bitcoin much more useful as a currency.
It's been a while since I learned about automata but I think this means that Bitcoin scripts are Deterministic and Finite (might be wrong, please correct me if you know better).
Sorry for the screed, it just feels odd to use hardware examples to make a point about software decisions. It felt a bit more confusing than the actual explanation. Like if you aren't familiar with turning completeness or loops anyways, NAND gates aren't going to be much more helpful. Using NAND gates feels a bit hand-wavey and inaccurate.
Ah all of the "turning"s in this post are supposed to be "turing", silly auto correct
🧡 comment for the algorithm
Great!!!!
I think this gives confirmation to Jason Lowery’s theory that Bitcoin’s as a form of power projection would be used to provide a non-Turing based form of computational and network security.
What's this i hear about 'BRICS Pay'?
Awesome
Hi Matt. It would be interesting to make a video about what BitVM means for altcoins. Many claim they add functionalities beyond what BTC does. Is this true now that BitVM is around?
When launch tokem?
love your videos ! always watch and learn so much. I assume bsv is touring comlplete with bigger block size and their encouraging building and doing everything on the base layer. whats cons of this
BSV is a failed fork of Bitcoin with very weak security and it is also not Turing complete
Please could you talk about Rootstock?
Unrelated to the video topic but i have to ask this qestion to you Matt. Wouldn't switching to quantum resistant signature types make transaction size significantly bigger? What i have found is that there is just no way around that. So either we will process much less transactions or we will come to agretment with larger block sizes. This i imgagine would be a huge mess and would likely make Bitcoin less decentralised (as there will be much less people that are able to run a full node) or a lot slower (like more than 10 times slower if block size were kept at todays level). Why is nobody talkig about this?
I've never seen any evidence that a QR signature type would take up more space than the current BTC signature types. But even if it did, it wouldn't be a problem because that data would end up in witness part of the block, rather than the transaction part. Blocks would still be capped at 4 MB max
@@Bitcoin_University arxiv.org/ftp/arxiv/papers/2112/2112.00399.pdf ("one typical difference between PQC and ECC is larger keys or signatures."). You might wanna take a look at the table included in this article as well - arxiv.org/pdf/1710.10377.pdf
You've made a good point with the segwit but it's still a very relevant issue.
Great stuff brother!!!
Hey Matt, could you do a video on using BTC as a alternative of a traditional 529 plan. I am 24 years old and I would like to start putting away for my future children’s education (not married yet but will be in the future).
I would love to hear your input on this.
Thanks a lot
Wheeeee-Hoooooooo.
Intrest on Bitcoin.
What ELSE DO YOU NEED!!!!??????
thats super cool. i can see that this tech might help with spamming and online video game cheating. best of all, there is no fork needed
I'm assuming that it's the same Robin Linus ex of Nimiq.
Matt! Willy Woo strikes again!
I am invested in 2 BTC mining companies. I was wondering if you own any BTC mining stocks.
I don't. I only own BTC
Matt , my wife yelled at me last yr for buying bitcoin through my Tradional IRA , still says ima loose all that money 😂
Can BitVM be used to mine Bitcoin?
No-- would be an incredibly inefficient way of doing SHA-256 hashes, I think
Bloatwear. We already have computers. Adding anything in Bitcoin blockchain will at least put some more money in the miners pockets.
I suppose this destroys BIP 300,301…. Sorry, Paul!😂
SEC Retreats From High-Stakes Lawsuit Over XRP Cryptocurrency
Btc is looking more and more like bsv nowadays.
BSV is a failed fork with a tiny market cap and empty blocks. Nothing like BTC
It'll be interesting to see what gets built with this. But I think one of the largest value points we're seeing right off the bat is the BS attack surface is shrinking. As various issues/features are addressed and solved off chain, there is less for alt-coins to boast about, thereby decreasing their opportunity to attack.
HODL
i have a question that coming to my mind recently. Would it have any impact on Bitcoin, if Satoshis Wallet with 1 mio. Bitcoin in it transfers some of it to another wallet?
Not accurate
So bitcoin can run doom from now on? :o
Matt, can you explain or comment on the vulnerabilities to the Lightning Network recently raised by Antoine Riard? CVE-2023-40231 / CVE-2023-40232 / CVE-2023-40233 / CVE-2023-40234 "All your mempool are belong to us”