Hash function Updated 2024-12-15 +Created 1970-01-01
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Applications:
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How Bitcoin works Updated 2024-12-15 +Created 1970-01-01
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Here is a very direct description of the system:
  • each transaction (transaction is often abbreviated "tx") has a list of inputs, and a list of outputs
  • each input is the output of a previous transaction. You verify your identity as the indented receiver by producing a digital signature for the public key specified on the output
  • each output specifies the public key of the receiver and the value being sent
  • the sum of output values cannot obvious exceed the sum of input values. If it is any less, the leftover is sent to the miner of the transaction as a transaction fee, which is an incentive for mining.
  • once an output is used from an input, it becomes marked as spent, and cannot be reused again. Every input uses the selected output fully. Therefore, if you want to use an input of 1 BTC to pay 0.1 BTC, what you do is to send 0.1 BTC to the receiver, and 0.9 BTC back to yourself as change. This is why the vast majority of transactions has two outputs: one "real", and the other change back to self.Code 1. "Sample Bitcoin transaction graph" illustrates these concepts:
  • tx0: magic transaction without any inputs, i.e. either Genesis block or a coinbase mining reward. Since it is a magic transaction, it produces 3 Bitcoins from scratch: 1 in out0 and 2 in out1. The initial value was actually 50 BTC and reduced with time: Section "Bitcoin halvening"
  • tx1: regular transaction that takes:
    • a single input from tx0 out0, with value 1
    • produces two outputs:
      • out0 for value 0.5
      • out1 for value 0.3
    • this means that there was 0.2 left over from the input. This value will be given to the miner that mines this transaction.
    Since this is a regular transaction, no new coins are produced.
  • tx2: regular transaction with a single input and a single output. It uses up the entire input, leading to 0 miner fees, so this greedy one might (will?) never get mined.
  • tx3: regular transaction with two inputs and one output. The total input is 2.3, and the output is 1.8, so the miner fee will be 0.5
                   tx1                     tx3
  tx0            +---------------+       +---------------+
+----------+     | in0           |       | in0           |
| out0     |<------out: tx0 out0 |  +------out: tx1 out1 |
| value: 1 |     +---------------+  |    +---------------+
+----------+     | out0          |  |    | in1           |
| out1     |<-+  | value: 0.5    |  | +----out: tx2 out0 |
| value: 2 |  |  +---------------+  | |  +---------------+
+----------+  |  | out1          |<-+ |  | out1          |
              |  | value: 0.3    |    |  | value: 1.8    |
              |  +---------------+    |  +---------------+
              |                       |
              |                       |
              |                       |
              |    tx2                |
              |  +---------------+    |
              |  | in0           |    |
              +----out: tx0 out1 |    |
                 +---------------+    |
                 | out0          |<---+
                 | value: 2      |
                 +---------------+
Code 1.
Sample Bitcoin transaction graph
.
Since every input must come from a previous output, there must be some magic way of generating new coins from scratch to bootstrap the system. This mechanism is that when the miner mines successfully, they get a mining fee, which is a magic transaction without any valid inputs and a pre-agreed value, and an incentive to use their power/compute resources to mine. This magic transaction is called a "coinbase transaction".
The key innovation of Bitcoin is how to prevent double spending, i.e. use a single output as the input of two different transactions, via mining.
For example, what prevents me from very quickly using a single output to pay two different people in quick succession?
The solution are the blocks. Blocks discretize transactions into chunks in a way that prevents double spending.
A block contains:
  • a list of transactions that are valid amongst themselves. Notably, there can't be double spending within a block.
    People making transactions send them to the network, and miners select which ones they want to add to their block. Miners prefer to pick transactions that are:
    • small, as less bytes means less hashing costs. Small generally means "doesn't have a gazillion inputs/outputs".
    • have higher transaction fees, for obvious reasons
  • the ID of its parent block. Blocks therefore form a linear linked list of blocks, except for temporary ties that are soon resolved. The longest known list block is considered to be the valid one.
  • a nonce, which is an integer chosen "arbitrarily by the miner"
For a block to be valid, besides not containing easy to check stuff like double spending, the miner must also select a nonce such that the hash of the block starts with N zeroes.
For example, considering the transactions from Code 1. "Sample Bitcoin transaction graph", the block structure shown at Code 2. "Sample Bitcoin blockchain" would be valid. In it block0 contains two transactions: tx0 and tx1, and block1 also contains two transactions: tx2 and tx3.
 block0           block1             block2
+------------+   +--------------+   +--------------+
| prev:      |<----prev: block0 |<----prev: block1 |
+------------+   +--------------+   +--------------+
| txs:       |   | txs:         |   | txs:         |
| - tx0      |   | - tx2        |   | - tx4        |
| - tx1      |   | - tx3        |   | - tx5        |
+------------+   +--------------+   +--------------+
| nonce: 944 |   | nonce: 832   |   | nonce: 734   |
+------------+   +--------------+   +--------------+
Code 2.
Sample Bitcoin blockchain
.
The nonces are on this example arbitrary chosen numbers that would lead to a desired hash for the block.
block0 is the Genesis block, which is magic and does not have a previous block, because we have to start from somewhere. The network is hardcoded to accept that as a valid starting point.
Now suppose that the person who created tx2 had tried to double spend and also created another transaction tx2' at the same time that looks like this:
  tx2'
+---------------+
| in0           |
| out: tx0 out1 |
+---------------+
| out0          |
| value: 2      |
+---------------+
Clearly, this transaction would try to spend tx0 out1 one more time in addition to tx2, and should not be allowed! If this were attempted, only the following outcomes are possible:
  • block1 contains tx2. Then when block2 gets made, it cannot contain tx2', because tx0 out1 was already spent by tx2
  • block1 contains tx2'. tx2 cannot be spent anymore
Notably, it is not possible that block1 contains both tx2 and tx2', as that would make the block invalid, and the network would not accept that block even if a miner found a nonce.
Since hashes are basically random, miners just have to try a bunch of nonces randomly until they find one that works.
The more zeroes, the harder it is to find the hash. For example, on the extreme case where N is all the bits of the hash output, we are trying to find a hash of exactly 0, which is statistically impossible. But if e.g. N=1, you will in average have to try only two nonces, N=2 four nonces, and so on.
The value N is updated every 2 weeks, and aims to make blocks to take 10 minutes to mine on average. N has to be increased with time, as more advanced hashing hardware has become available.
Once a miner finds a nonce that works, they send their block to the network. Other miners then verify the block, and once they do, they are highly incentivized to stop their hashing attempts, and make the new valid block be the new parent, and start over. This is because the length of the chain has already increased: they would need to mine two blocks instead of one if they didn't update to the newest block!
Therefore if you try to double spend, some random miner is going to select only one of your transactions and add it to the block.
They can't pick both, otherwise their block would be invalid, and other miners wouldn't accept is as the new longest one.
Then sooner or later, the transaction will be mined and added to the longest chain. At this point, the network will move to that newer header, and your second transaction will not be valid for any miner at all anymore, since it uses a spent output from the first one that went in. All miners will therefore drop that transaction, and it will never go in.
The goal of having this mandatory 10 minutes block interval is to make it very unlikely that two miners will mine at the exact same time, and therefore possibly each one mine one of the two double spending transactions. When ties to happen, miners randomly choose one of the valid blocks and work on top of it. The first one that does, now has a block of length L + 2 rather than L + 1, and therefore when that is propagated, everyone drops what they are doing and move to that new longest one.
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Inscription (Blockchain) Updated 2024-12-15 +Created 1970-01-01
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Data that is inscribed in a blockchain as a way to perpetuate the data, rather than to follow the main intended purpose of the given blockchain, e.g. ASCII art instead of financial transactions on the Bitcoin blockchain.
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Laszlo's pizzas Updated 2024-12-15 +Created 1970-01-01
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On May 19, 2020, Lazlo announced on the Bitcoin Forum at: bitcointalk.org/index.php?topic=137.msg1195
I'll pay 10,000 Bitcoins for a couple of pizzas.. like maybe 2 large ones so I have some left over for the next day. I like having left over pizza to nibble on later. You can make the pizza yourself and bring it to my house or order it for me from a delivery place, but what I'm aiming for is getting food delivered in exchange for bitcoins where I don't have to order or prepare it myself, kind of like ordering a 'breakfast platter' at a hotel or something, they just bring you something to eat and you're happy!
I like things like onions, peppers, sausage, mushrooms, tomatoes, pepperoni, etc.. just standard stuff no weird fish topping or anything like that. I also like regular cheese pizzas which may be cheaper to prepare or otherwise acquire.
If you're interested please let me know and we can work out a deal.Ciro Santilli remembers his father always telling him how when Ciro was small, he would try to grasp the value of money by converting it into how many pizzas he could buy. Well, at least he was not alone.
User bitcoin2paysafe then asks the fundamental practical question:
In which country do you live?
and Lazslo replies:
Jacksonville, Florida
zip code 32224
United States
User ender_x then points out afterward:
10,000... Thats quite a bit.. you could sell those on www.bitcoinmarket.com/ for $41 USD right now..
so it is a slightly bad deal even then!
Three days later Lazlo's asks again on the thread:
So nobody wants to buy me pizza? Is the bitcoin amount I'm offering too low?
and one day later he confirms that the sale was made without naming the buyer:
I just want to report that I successfully traded 10,000 bitcoins for pizza
Thanks jercos!
where "jercos" is presumably the Bitcoin Forum username of the buyer. en.bitcoin.it/wiki/Jercos gives his identity as Jeremy Sturdivant.
www.thesun.co.uk/news/15049566/other-bitcoin-pizza-jeremy-sturdivant-fortune-hanyecz/ mentions Jeremy sold too early however:
The cryptocash disappeared when Sturdivant used it to "cover expenses" while travelling the US with his girlfriend.
Figure 1.
Laszlo's Papa's Specialty pizzas
. Source. The most famous of Laszlo's pizzas, originally published on his website: web.archive.org/web/20210217220810/http://heliacal.net/~solar/bitcoin/lightning-pizza/.
Figure 2.
Laszlo's secondary pizza event
. Source. web.archive.org/web/20210217220810/http://heliacal.net/~solar/bitcoin/lightning-pizza/ documents another pizza event, as we have different pizza boxes from the most widely known one: web.archive.org/web/20211219130004/http://heliacal.net/~solar/bitcoin/pizza/ Only image thumbs are archived however. web.archive.org/web/20211016070745/https://www.thesun.co.uk/news/15049566/other-bitcoin-pizza-jeremy-sturdivant-fortune-hanyecz/ however shows a large version that The Sun got their hands on before the takedown.
Figure 3.
Jeremy Sturdivant
. Source.
heliacal.net is presumably his personal website? But is was down as of 2023. But we have Wayback Machine archives of course :-) Latest working one of that page 2021: web.archive.org/web/20211219130004/http://heliacal.net/~solar/bitcoin/pizza/ And some other stalking:
Laszlo is truly, literally, the nerd who got very very very lucky!!!
On June 12, 2010 Laszlo re-offers:
This is an open offer by the way.. I will trade 10,000 BTC for 2 of these pizzas any time as long as I have the funds (I usually have plenty). If anyone is interested please let me know. The exchange is favorable for anyone who does it because the 2 pizzas are only about 25 dollars total, maybe 30 if you give the guy a nice tip. If you get me the upgraded extra large ones or something, I can throw in some more bitcoins, just let me know and we'll work something out.
My 1 year old daughter really enjoys pizza too! She just smears it all over her face if you give her a whole slice, but she does eventually manage to get most of it in her mouth (minus a few loose toppings of course).
and on August 4 user MoonShadow takes him up:
An open offer, you say? It's been a while since you had some pizza. Feeling a craving, Laszlo?
but finally Laszlo withdrawls the offer:
Well I didn't expect this to be so popular but I can't really afford to keep doing it since I can't generate thousands of coins a day anymore. Thanks to everyone who bought me pizza already but I'm kind of holding off on doing any more of these for now.
so we understand that the sales happened multiple times!!! Also, we understand that he was probably a miner.
TODO list all of the potential sales.
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Michael J. Saylor Updated 2024-12-15 +Created 1970-01-01
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  • twitter.com/saylor 2.6 M followers as of 2022. Because of Bitcoin? Or was he famous before that?
  • www.michael.com/ yes, he is Michael.com lol. When did he get the domain, and at what price? He's mildlly obsessed with domain names it seems: www.domainsherpa.com/saylor/. He also bought frank.com, mike.com. emma.com. This was between 1994 and 2000. He mentions that his email is saylor@strategy.com. strategy.com redirects to microstrategy.com as of 2022, so seems still valid.
    We actually got a backlink from tvt.phishlabs.com to this page in August 2022, a phising security provider, presumably for showing his email here. This reminds Ciro of the All GitHub Commit Emails event!
    A quick google for that address also leads to www.washingtonpost.com/wp-srv/liveonline/00/business/saylor0621.htm, a year 2000 profile page by the Washington Post, followed by a Q&A. In the Q&A, Michael himself gives his email in relation to Saylor Academy:
    Kensington, Maryland: What has happened to your vision of an internet university? I believe it is an important initiative and it doesn't require $100 million to get started. We at the Rockefeller Foundation would like to become involved. How can we do this?
    Michael Saylor: The internet university is alive and well. My goal is to initially roll out a cyber-libary of digital video that can be used by any for-profit or non-profit organization in order to accelerate the free education initiative. Eventually, people may just go direct to the web site.
    I think the entire thing will unfold over about 10 years.
    Send me an email if you would like to get involved. (saylor@strategy.com)
    so it was already beyond leaked. Ciro did hit that email address seeking funding for OurBigBook.com, but no reply unfortunately. Maybe you gotta be part of the Rockefeller family to get a reply from these people? Well, at least this led to Ciro learning about the Rockefeller Foundation.
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Punycode inscription Updated 2024-12-15 +Created 1970-01-01
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Namecoin examples are catalogued at: punycodes.xyz. The are small Unicode art or emoji code.
There seems to be nothing of particular artistic value as far as we've seen so far, the only interest in such tokens seems to be that:
  • there are some examples that came earlier than those in the Bitcoin blockchain, notably a bit earlier than Section "BitLen"
  • Namecoin is a NFT system unlike Bitcoin which is fungible, so those assets are naturally tradable
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Sponsor Ciro Santilli's work on OurBigBook.com Updated 2024-12-15 +Created 1970-01-01
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Ciro Santilli is actively looking for donations and contracts so he can continue to work full time on OurBigBook.com sustainably, and develop free hardcore university-level STEM education for all ages!
At 100k USD, I quit my job to work full time on it for one year. During this year I will use my contacts with STEM students of a world leading university near where I live and solve as many of their problem sheets as possible, mostly by referring to OurBigBook.com articles I'll be writing. The goal is to get as much STEM knowledge as possible into the world, and highlight how flawed presencial and sequential Higher Education is, while positioning OurBigBook.com as an alternative way to organize humanity's knowledge. Quite grand.
Status: ~144k / 200k USD reached. 1st year locked in and started 1st June 2024 to 31st May 2025[ref], 2nd year stretch goal open. A second year greatly improve chances of success: year one I solve a bunch of courses, year two I come guns blazing with the content and expand further. Donation breakdown:
  • 2024-03-18: $126,352 (!!!): anonymous 1000 Monero donation to self-custody wallet. Further comments: 1000 Monero donation.
  • 2024-03-13: $1,375: anonymous 10 Monero donation to self-custody wallet
  • 2023-11-20: $14.563: anonymous 100 Monero donation to Binance wallet
  • 2023-09: $810: anonymous 0.032 Bitcoin donation to Coinbase wallet
  • subscriptions up to 2024-01: $143,795
More details: Section "Accounting method"
At 1M USD I retire and work on open STEM education forever.
Note to potential anonymous crypto donors: anonymous donations incur a regulatory risk. I cash out most of such donations and announce it very clearly to the government and banks. For example, at one point Barclays even froze my UK account. But things seem manageable for now. On one hand, such donations serve as a fun test of the financial system. But on the other, if all banks reject my money or if the government decides to take it, I will write off the anonymous donation at zero.
How to give:
  • one time donations:
    • cryptocurrency: note that Ciro is not a regular crypto user, so you might want to make a smaller test donation and confirm that it worked by contacting Ciro before going for colossal amounts (one can dream):
      • Monero address: 4A1KK4uyLQX7EBgN7uFgUeGt6PPksi91e87xobNq7bT2j4V6LqZHKnkGJTUuCC7TjDNnKpxDd8b9DeNBpSxim8wpSczQvzf. Secret view key: 7ccaf885ff5540b0ff18927e6ac5da30130afb1eaee09ad95d3c4536a6337e0f. This is a self-custody wallet on a "clean" dedicated Monero laptop connected the Internet. I check for incoming transactions from my dirty main laptop via a view-only wallet each weekend. The cash out method used is latest simplest thing that wasn't yet blocked in my country on a given week, the last time that was centralized swappers[ref]. The fact that the cash out method changes weekly confirms that Monero privacy hadn't yet been broken by countries and that Monero is still one of the most useful cryptocurrencies: Section "Are cryptocurrencies useful?". For transparency, I announce all non-trivial transactions on social media, and the full list of transactions can be seen by anyone with the secret view key provided. I previously had different addresses, so pre-existing donations on older addresses will not be visible there.
      • Bitcoin address: 3KRk7f2JgekF6x7QBqPHdZ3pPDuMdY3eWR. This is a Coinbase wallet, off-chain transactions with no transaction fees accepted from other Coinbase users. This method has been tested, I have been able to receive funds from this address in 2023. Fees: non-fixed trading fees[ref] + 0% withdrawal fee on top of any Bitcoin network for on-chain transactions[ref]
      • Ethereum address: 0x44cF8C9C015F46d3b2Df730b6492823FD7A91044. Test transaction recommended.
      • Solana address: DjdaGawoVFdqxJEqpBGsSWuR4G4MVFNiNkAEu89HuKcE. Test transaction recommended.
    • TransferWise tag: wise.com/pay/me/cirod3. It shows as "Ciro Duran Santilli" and that's correct. No fees apparently? Love it!
    • PayPal: paypal.me/cirosantilli. Note that dots in Gmail address are ignored, and it is perfectly normal if the email you see has some extra dots in it. Fees: 2.9% + 0.30 GBP[ref].
  • monthly subscriptions of 1$/month or more on either:
    Symbolic 1 dollar/month donation are extremely welcome to signal your interest! This way if a certain critical mass of sponsors is ever reached (~100?), Ciro can start to more actively asking slightly higher amounts to really try to achieve full time self sufficiency.
  • larger grants/contracts from filthy rich individuals or organizations: contact Ciro as mentioned at: Section "How to contact Ciro Santilli" to discuss.
    Ciro is interested in contracts/voluntary work that would be compatible/synergic with the OurBigBook.com project. Some possibilities include:
    • interacting directly with classes of university students to help them learn the class subject, while at the same time spreading the university knowledge outside of the university walls
    • one-to-one mentoring of individuals of any age that are looking to make an impact in the world, and not just pass their exams
    • fixing specific bugs in related projects Ciro has experience in. These could be either via one-off contracts, or on platforms such as:
And if you have a different preferred payment mechanism not listed above, please contact Ciro, and he will set it up.
Ciro's current ambitions require him to remain in developed countries, because Ciro wants to document advanced science and technology by liaising with top universities, and there is not nearly as much high technology in poor countries. Remaining in developed countries is also a required due to family reasons.
If you would like public acknowledgement for your support, Ciro will very gladly give it, just let Ciro know how you'd prefer it. Due to Ciro Santilli's campaign for freedom of speech in China, many supporters have chosen to be anonymous, and that is totally fine, not everyone is interested in politics, or has a situation where going public is acceptable, so we don't have a standard setup yet, let's build it together. A acknowledgement section at the bottom of this page would be a minimum, but I for larger donations we could add a your advertisement in a locations such as:
100k USD/year is a semi arbitrary amount that sounds nice. My last day job total compensation as of 2024 was about 150k USD/year.
Video 1.
Intro to the OurBigBook Project
. Source.
Video 2.
OpenGL GPU GLSL fragment shader real time v4l2 Linux webcam computer vision box blur vs CPU
. Source.
Figure 1.
Ciro Santilli playing with a pipette at the University of Cambridge circa 2017
. Although totally disqualified for it, Ciro would really like to understand and explain cool scientific experiments in insane detail much as he does with computer software, related:
Maybe if he ever gets enough credibility, such opportunities would actually materialize. It could be a bit like Periodic Videos, but for molecular biology and physics, and backed by OurBigBook text/tree with minimal openly licensed videos. The fact that such opportunities are essentially impossible outside of the boredom of the university system is something we should really change about education.
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1000 Monero donation Updated 2024-12-15 +Created 1970-01-01
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On 2024-03-18, Ciro Santilli received an anonymous 1000 Monero donation (worth ~126k USD at the time) to his self-custody wallet, which pushed him over his public plea for 100k USD goal to quit his job for one year.
The transaction ID was 5c6af4df39021f3a4a053ef169c9b397e6d6bf6c7e557d3f08e4e1675d7d3eed to self hist custody wallet with address 47kzoCeRMTohJhADejtsGmGimvQKzNsuST7u2aVhAD1VX5WDbh3v1FPUoJoTK3NTJVUgAM3dWCqC4Tmp9KSQaJi6GGYWgYn. This is a roof generated by his Monero wallet: InProofV2AVFBmFhofH4GoG5NsaDutkdNWRTaEhuFgHpHTkpprRmuZ54B8FdUwFp71gqfp2jJpDUrhB3GCzZ2p8CNbh2TW1Z88ShmYWEwtkZFLccEMw9PhH3vWcMVo9mKaRsH3WgJXqq9.
Since this donation is so huge, it deserves some comments and a bit of a retrospective. The path to this donation has been an interactive one, and it is described below.
After starting the OurBigBook Project, Ciro started the sponsor Ciro Santilli's work on OurBigBook.com page on cirosantilli.com and setup some donation methods to help support the project, and possibly try to capitalize a bit on Ciro Santilli's Stack Overflow contributions.
His sponsors are absolutely crazy amazing people, but Ciro simply could attract a large enough amount of small sponsors to reach life changing amounts under those circumstances. This is partly due to Video "And I am not and never have been 'familiar' scene from The Big Short (2015)".
As such, Ciro came to realize more and more that the best approach would be to reach out to a smaller number of rich people, given that the things he works on niche, but may appeal to a particularly wealthy tranche of the population: STEM people. Other experiences and ideas that contribute to this realization are:
  • the creation of the OurBigBook Fellowship, which as of writing consisted of a single donation. During this exercise, Ciro Santilli gave about 2k USD to help a promising Brazilian student. In doing so, he understood a lot about what goes on inside a "rich person's" head when considering a donation
    • it is hard to decide who to donate to and find those people. In part because as soon as you create a public donation system with an application process, people will game the fuck out of it. Perhaps the Lost Horse LLC approach of "they find you" is the best?
    • it is basically impossible to donate more than 1% of your net worth if you have a family. Even 1% you may be discouraged about. Perhaps with reason due to previous bad donations they have made.
  • the increasing wealth inequality of this world, perhaps one of the greatest problems we now face
Then, whenever a larger donation would come through and surprise Ciro, he would improve his sponsor page statements. First a private 150 USD by an awesome sponsor. Then the 2023-09 ~810$ Bitcoin one. Finally came the 2023-11-20 100 Monero one. And it was that one that pushed Ciro to start his "100k USD = 1 year campaign".
Finally on 2024-03-13, Ciro received an anonymous 10 Monero donation to self-custody wallet. He had clearly stated that one should make a test donation to that wallet before the big one, so 10 Monero felt like it could be the test one. Ciro communicated the reception at: mastodon.social/@cirosantilli/112112988286298258 and twitter.com/cirosantilli/status/1769464788009066710:
I cashed out 10 XMR on @AgoraDesk for ~1,375 USD, and kept some change in the wallet for fun. This donation confirms that my self-hosted wallet and cash-out work just fine, so feel free to drop those millions whenever you want Mr. Anon :-)
Over the next few days, Ciro checked his wallet more often than his previously self imposed once a weekend max, and as expected, he found the big one on a slightly despaired around midnight sleepless night (partly due to parenthood). He was feeling particularly bored and a bit sad with his work life that night. And there it was. 1000 Monero on the wallet. Needless to say, not much sleep was done on that evening!!!
Video 1.
1000 Monero donation (~126,000 USD) reaction video by Ciro Santilli
. Source.
Figure 1.
Still of the reaction video after finding out about the big donation around about midnight
. Source.
Figure 2.
Screenshot of Ciro Santilli's Monero wallet with 1000 Monero in it just after the donation
.
The following days were also tense, with Ciro having a trial by fire on selling large amounts of Monero on the UK, which is not trivial as it had been banned from all major exchanges. But he managed. Further notes on that at: www.reddit.com/r/Monero/comments/17arz9f/converting_xmr_to_gbp_in_the_uk/. Ciro also decided to keep about 200 Monero around just for fun as a crazy moonshot.
Another major factor likely Ciro having published his article: Section "Cool data embedded in the Bitcoin blockchain" in 2019. This is something he wrote entirely for fun during an intense 3 week side-time binge in 2019, though some large updates were made later on. It was this article that likely some crypto-dude attention to Ciro Santilli's profile. As of 2024, there is said to be about 20 crypto billionaires, so perhaps there are about 2000 crypto 10 millionaires[ref], which is the minimum net worth for a donation of 100k USD to be feasible (1% mark). And perhaps a reasonable number of them are just nerds who got rich, and want to improve the world. There are two lessons from this:
  • follow your instincts, always. If something seems mega fun and quick, do it!
  • making money from a few rich people (or entities like organizations) is easier than working for a bunch of poor people, because you have to convince less people. If you reach many poor people however, things are much more stable as you can lose a few customers and still be fine
Another factor in the donation, Ciro Santilli believes, is that many rich people thing that education is bullshit. Many successful people are neurodiverse and as such, it is only natural that a large number of rich people want to improve our educational system, which tends to be the very epitome of "boring and average normality" which Ciro Santilli so much detests. This can also be seen in people such as:
Amazing reactions from the Monero Reddit community: www.reddit.com/r/Monero/comments/1brryao/ciro_santilli_received_a_1000_xmr_donation_to/
  • geonic_ comments:
    Reaction video is fake. Very bad acting.
  • Inaeipathy comments:
    Well, anyways, I would be very unsurprised if this 1000 XMR was sent to him by himself for... reasons.
  • -TrustyDwarf- comments:
    Anyone mind to explain wtf this ugly piece of webpage reminding me of geocities from the 90s is about? I'd read it myself but I can't because it already gave me eye cancer.
  • rbrunner7 comments:
    It's all quite strange. Never mind the 90s design, people built good websites already back then with the tools at hand, but even their "About" isn't very clear. If you need 5 minutes to be reasonably sure what it is all about they are still doing it wrong.
These people have some serious trust issues!!! Perhaps not surprising from a privacy coin community. Ciro's Twitter post: twitter.com/cirosantilli/status/1775961945193017790
Figure 3.
It's a role given to me by the Internet people
. Source.
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Stefan Thomas Updated 2024-12-15 +Created 1970-01-01
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www.nytimes.com/2021/01/12/technology/bitcoin-passwords-wallets-fortunes.html
As for his lost password and inaccessible Bitcoin, Mr. Thomas has put the IronKey in a secure facility - he won’t say where - in case cryptographers come up with new ways of cracking complex passwords. Keeping it far away helps him try not to think about it, he said.
“I would just lay in bed and think about it," Mr. Thomas said.
Video 1.
What is Bitcoin? (v1) by WeUseCoins (2011)
Source. This is the video that Stefan Thomas as paid 7,002 Bitcoins to make back in 2011.
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