Bitcoin Q&A: Block height, syncing, and validation

Thank you for the explenation on adresses and how much is on them.

Read the whitepaper
BSV is Bitcoin !!!

Great content but please buy a professional microphone, sound is terrible.

EDIT: I learned, this format is to answer your patreon's questions. That's fine. I am very confident you will address my question in some way or another before SHA-256 is compromised. Looking forward to your take on the topic.

Hi Andreas,

Question 1: You mentioned (maybe in antoher video) that private addresses may become compromised with computing power exceeding the security of SHA-256. If I recall correctly, you estimated 20-40 years from now. Assume, one can create new addresses using stronger encryption, new addresses would be safe, but what happens to old/unused addresses that contain a lot of bitcoin?

Followup Question: Do you think it is feasible to declare weak addresses invalid by a hard fork with a grace period of let's say 10 years, forcing everyone to upgrade their keys within that grace period?

Question 2: Is there such thing as an unredeemable address in the bitcoin protocol — one that bitcoin can be sunk to forever and safely so?

Thank you very much and keep up the great work.
Markus.

You could create a snapshot of a pruning node, so that people would just download a couple of GB instead of 200+ GB, but who should to that? The Bitcoin Core team? Andreas? And how often? It's up to them whether they want to do that.

Get noded or gtfo

Always dropping great knowledge for us. I greatly appreciate it sir!

Bottom line is that bitcoin core doesn t allow you to gather UTXOs on the fly…waiting for 30 minutes or 1 Hour for the node to rescan blockchain is not acceptable in some cases.

Anyway, there are 3rd party services such as blockchain.com API that allow you to gather UTXOs of any address you pass to the API.

However this means once again relying on 3rd parties, which is not what we want.

So the question is: is there a way to get UTXOs of external addresses (any address) as quickly as with 3rd parties APIs?

What if I use a different implementation of Bitcoin, such as BCOIN instead of Bitcoin Core? Would a BCOIN node allow me to get UTXOs fast and easily?

Your last piece of information is not true, Andreas. Downloading a database is really fast and can be done with speed of MB/s depending on the connection speed. Validation takes a very long time. You're underestimating the amount of processing (which is not even parallelized in the Bitcoin Core software) that is done to verify blocks. Every block has to be received from a peer, then parse the binary data, validate the block, then storing it locally on the HDD then store its pointer in leveldb. This takes a very long time compared to doing it in bulk.

A proof of this is the Neblio blockchain. They implemented something they called "QuickSync". The software embedded downloading the synchronized blockchain with https at launch (which one can choose to opt out of) instead of manually syncing. Manually syncing takes 6-12 hours on an SSD, using QuickSync (which downloads the synced databse, which is also verified by a centralized sha256 by the developers for those who don't want to wait) takes at most 10 minutes to have a fully synced node.

Sorry, Anrdeas. You're wrong with this one.

AA – love your videos. Question: if we send BTC to an address can we track that address to see who’s address it is ?

The day will come when you can know
Longer deny that bsv is better and that it is compliant with legal systems and that it is the orginal bitcoin with the orginal founder behind it.

If someone was to offer the block chain on ebay for instance. Is there a risk of it being corrupt or hacked?
I would imagine not as the core wallet would correct any errors.

For some people with low bandwidth this could be an option.

Smart man

Someone buy this man a decent microphone.

No. It takes days to download the blockchain on network with an older computer but only hours or minutes to just download and verify a copy of the data.

you can connect with many, many peers with bittorrent though

BSV scales on chain, BTC?

Kent Lewis says Bitcoin is actually owned by the central banks – If you follow the shell company trail back far enough – also the platforms such as COinbase are owned by the central bank…can someone provide insight to Kent Lewis information?

Hello Andreas very informative videos
Did you get invited to lunch with warren buffet and Justin sun? You should be there

Seems like Andreas is in jail in this video

I disagree with the last statement as a wallet provider I have to keep separate backup copies of the blockchains because if they become corrupted restoring them from my back is faster than downloading from scratch. Keep in mind I have 1 GB up and down access and the process of downloading the chain is slower than me sending the backup copy from Chile to my remote server farm in the USA.

It is my opinion that there is something wrong with the bitcoin BitTorrent code as internal tests with many nodes with the blockchain connected to 1 node without is several orders of magnitude slower to download the blockchain than just copying the blockchain. This may be due to the fact that bitcoin nodes are not dedicated to the torrent activity.

Ladies when you find a stylist that never ruins your hair, men when you find a mechanic that never cheats you, and can actually fix the problem…this is what Andreas is for crypto. TGFA (Thank God For Andreas)

While Bitcoin's price fomos up and fuds down, spinning around and around, Andreas calmly and brilliantly provides insights and advice that are super sound

This is good for bitcoin