BitFS: The Bitcoin File System (opens in new tab)

(bitfs.network)

33 pointsonion-soup6y ago14 comments

14 comments

13 comments · 5 top-level

volaski6y ago· 5 in thread

wow, trying to wrap my head around this thing. how does this exactly work?

This is an intellectual exercise, not a useful service. It's similar to those schemes for storing MP3 files in Google calendar entries, or whathaveyou.

The txn cost[1] to write any non trivial amount of data to the Bitcoin chain makes it a very expensive filesystem.

[1] around $0.06/byte

voodoosurfer6y ago

Except your Google calendar entries can't be monetized in perpetuity. Remember, every file put on chain is linked to a wallet address. Imagine creating a viral meme and getting fractions of a penny each time it was re-posted somewhere. That's where this is all headed.

torusJKL6y ago

The price for writing to BSV is currently 0.5 satoshi/byte. And some miners accept fees as low as 0.25 satoshi/byte.

At the current market price of BSV (USD 350) that is 0.00000175 USD/byte, or 0.001792 USD/KB.

voodoosurfer6y ago

It works by embedding data inside of transactions. Really next level stuff, check this out:

https://github.com/unwriter/B

pat2man6y ago

You can append a note to a bitcoin transaction, and that node could be a file. This app scrapes those files.

wp3816406y ago· 3 in thread

Note that this isn't Bitcoin, it's built on Bitcoin SV - a fork created by known charlatan Craig Wright who claims to be Satoshi Nakamoto.

aboho6y ago

Bitcoin is a protocol not a ticker symbol.

onion-soupOP6y ago

Wrong statement. Both btc and bsv are forks. But the latter just follows the whitepaper while btc core introduced anti-patterns like block size or segwit.

BenoitP6y ago

I'm confused, I thought Bitcoin XT was the one following the white paper. Or maybe it was Bitcoin classic. Or Bitcoin unlimited. But Bitcoin Cash was supposed to be the true one. Or BSV as you're saying. Or it was of course Bitcoin Gold.

I guess a requirement for being the one following the white paper is to take part of a fork with the Bitcoin "Core" chain.

1 more reply

deepwaterz6y ago

This is next level!!

bust_it_big6y ago

prolific developer showing the power of building on bitcoin

mrzmrzmrz6y ago

Another one!

j / k navigate · click thread line to collapse

14 comments

13 comments · 5 top-level

volaski6y ago· 5 in thread

wow, trying to wrap my head around this thing. how does this exactly work?

dboreham6y ago

Hmm: https://bitfs.network/about

This is an intellectual exercise, not a useful service. It's similar to those schemes for storing MP3 files in Google calendar entries, or whathaveyou.

The txn cost[1] to write any non trivial amount of data to the Bitcoin chain makes it a very expensive filesystem.

[1] around $0.06/byte

voodoosurfer6y ago

torusJKL6y ago

The price for writing to BSV is currently 0.5 satoshi/byte. And some miners accept fees as low as 0.25 satoshi/byte.

At the current market price of BSV (USD 350) that is 0.00000175 USD/byte, or 0.001792 USD/KB.

voodoosurfer6y ago

It works by embedding data inside of transactions. Really next level stuff, check this out:

https://github.com/unwriter/B

pat2man6y ago

You can append a note to a bitcoin transaction, and that node could be a file. This app scrapes those files.

wp3816406y ago· 3 in thread

Note that this isn't Bitcoin, it's built on Bitcoin SV - a fork created by known charlatan Craig Wright who claims to be Satoshi Nakamoto.

aboho6y ago

Bitcoin is a protocol not a ticker symbol.

onion-soupOP6y ago

Wrong statement. Both btc and bsv are forks. But the latter just follows the whitepaper while btc core introduced anti-patterns like block size or segwit.

BenoitP6y ago

I guess a requirement for being the one following the white paper is to take part of a fork with the Bitcoin "Core" chain.

1 more reply

deepwaterz6y ago

This is next level!!

bust_it_big6y ago

prolific developer showing the power of building on bitcoin

mrzmrzmrz6y ago

Another one!

j / k navigate · click thread line to collapse