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Is Bitcoin better understood as a state machine or a database?

Bitcoin is commonly described as a “decentralized database,” but looking at how a full node actually works, that framing feels a bit off. Blocks form an append-only transaction log. Nodes replay that log to derive the current UTXO set, which Bitcoin Core stores in LevelDB (chainstate/). That’s not really how traditional databases work — it feels closer to event sourcing or a replicated state machine where the ledger state is derived rather than primary. So which mental model is actually correct? • Is the UTXO set the “database “? • Or is the block log canonical, with the UTXO set essentially being a cache that could be reconstructed? Is there anything from early mailing list discussions or Satoshi’s design notes that addresses this directly? from Recent Questions - Bitcoin Stack Exchange https://ift.tt/97PciCx via IFTTT

`bitcoin-cli importdescriptors` returns "Internal addresses should not have a label" when they do not have a label

Using bitcoin core v29.2 I use importdescriptors like this in a POST request: http://user:password@localhost:48332/wallet/FullyNoded-3f892a938a83d0a79b37415718c0961bbd2dd368f7cb4fa55a4a6de4f2d1d9da request: ["id": "4305A6A4-212B-4A4E-8BC9-9449A0BD9B98", "method": "importdescriptors", "params": ["requests": [["desc": "tr(025650b14f8625b1904178493c1622ff4c93686fee8477484af0845c8b2cd9ea5f,and_v(v:multi_a(1,[96d7aac2/48h/1h/0h/3h]tpubDEezkCUbL6Ej2Z54Vrb7nAveezdQdcuY2bDuekM6EPCmEno5pKX2Qv2c9CYGwbfMNDr4QQsWQr8LMj1pNMhEiXUfVzAvqcsGkVT8cpqgEUH/0/0,[fc909fda/48h/1h/0h/3h]tpubDFhkGDGS53dvC7EcRu4bXsyXuBXN6PnVLvTyuvBJop7MceUBsSonGGE98LrqyQGd7ZMebEi2FC8Yqsdd9irs64sReNWtMSJXf8jaMb292t8/0/0),after(1769616990)))#qr3jf3qm", "internal": false, "timestamp": 1769617431, "active": false, "label": "1 of 2", "next_index": 0], ["next_index": 3, "active...

When — and why — did Bitcoin Script shift to a commit–reveal structure?

Re-reading the whitepaper, Section 2 describes ownership as transferring coins directly to the next owner's public key — which maps to P2PK. That's the last standard type where the full spending condition is visible in the output. Every format since then does the reverse: commit to a hash, reveal the preimage at spend time. P2PKH started it — hides the pubkey behind a hash, revealing it only at spend time. P2SH, P2WSH, and eventually Taproot all extend the same logic, with Taproot pushing it furthest by hiding an entire Merkle tree of scripts. Was this a deliberate design direction, or did each upgrade respond to its own pressures independently? Is there a mailing list thread or BIP discussion where this pattern is explicitly articulated? from Recent Questions - Bitcoin Stack Exchange https://ift.tt/DsYl6g1 via IFTTT

XRP Ledger Positioned For Real World Asset Explosion As Securitize Teases $400-T Market

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The conversation around real-world asset (RWA) tokenization is heating up, and the numbers are staggering. After digital asset securities firm Securitize highlighted the potential for a $400 trillion global asset market to move on-chain, attention quickly shifted to the blockchains positioned to support that scale. The XRP ecosystem, specifically the XRP Ledger, is increasingly being discussed as a possible infrastructure layer for this next phase of financial digitization. How The XRP Ledger Supports Asset Tokenization Crypto commentator Archie is sounding the alarm for the XRP community, pointing to Securitize teasing a massive $400 trillion real-world asset (RWA) opportunity that could reshape global finance and potentially position the XRP Ledger at the center of the shift. According to Archie’s post on X, a recent update from the tokenization giant stated that only about $25 billion in assets have been tokenized, with an estimated $400 trillion in traditional assets.  Thi...

Ripple Exec Clears The Air On Blocked XRP Transactions – When Does It Happen?

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Former Ripple Chief Technology Officer (CTO) David Schwartz has addressed speculation that the crypto firm can block transactions on the XRP Ledger (XRPL) . He explained the only way this could happen amid claims that the network is centralized.  Ripple CTO Emeritus Explains How An XRP Transaction Can Be Blocked In an X post , the former Ripple CTO said that there is no way to prevent valid transactions on the XRP Ledger unless users agree to change the validity rules to make them invalid. Schwartz made this statement in response to whether Ripple or he, as one of the original developers , can freeze a wallet and prevent a transaction.  Meanwhile, in response to who can unlock and lock escrows, the former Ripple CTO said that anyone who wants to escrow tokens can lock them in escrow. Once an escrow expires, anyone can unlock it. Schwartz also addressed claims that the XRPL Ledger was centralized because Ripple has a “Unique Node List,” which effectively makes the validator...

Crypto At The Casino? UK Weighs Letting Online Bettors Pay With Digital Currency

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British gamblers searching for ways to bet with cryptocurrency are more likely to end up on an illegal website than a regulated one. That is part of what prompted the UK Gambling Commission to start asking whether something needs to change. Tim Miller, the regulator’s executive director for research and policy, told an industry gathering in London last Thursday that the Commission now wants to look seriously at allowing crypto to be used as a payment method at licensed online gambling platforms in Great Britain. Illegal Sites Are Driving The Conversation Miller’s case for taking another look at crypto payments was not built purely on demand, though he acknowledged that appetite among bettors is growing. He made the remarks during the Betting and Gaming Council’s annual general assembly. The more pointed argument was about where that demand currently goes. According to reports , Miller told attendees that crypto ranks among the two most common search terms that lead British gambler...

Pundit Uses Bitcoin Halving Cycle To Show Exactly When To Start Buying BTC Again

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Bitcoin’s long-term structure has always been examined through the perspective of its halving cycle, and one crypto pundit believes the pattern is pointing to a clear price bottom.  The analysis centers on a recurring time-based rhythm tied to each halving event, and it proposes a specific window for when accumulation could begin again. Crypto pundit Blockchainedbb projected that the Bitcoin phase may be heading into another structured reset phase that drags on for a while, and it may not be until Q4 2024 before the best time for buying BTC presents itself. The Bitcoin 135-Week Rule Before Halving The timing framework is based on a recurring pattern observed ahead of Bitcoin’s halving events, highlighted by pundit Blockchainedbb. According to his analysis, each previous major Bitcoin cycle price low formed somewhere around 135 weeks before a halving takes place. The weekly chart shared in the analysis shows previous halving dates, including May 11, 2020, and April 19, 2024, ...