Original text claimed that there is no association between a user's
identity and their addresses prior to using that address in most
wallets, but many lightweight wallets send even their not-yet-used
addresses to remote servers to scan for incoming payments. This is
often done over IPv4 or IPv6, which creates a link between the user's
connection and their addresses. Update text by simply dropping this
claim.
SPV verification doesn't require connecting to a full node over the P2P
network. Many clients connect to specially designed tranasctions
servers (e.g. an Electrum server) which provides them with transactions,
SPV proofs, and headers--and provide relay for outgoing transactions.
Update text to remove claims about direct P2P connection.
- The previous text only refers to onchain addresses, but BIP22 URIs,
QR-encoded BIP22 URIs, and offchain invoices (like BOLT11) are the way
many users will now exchange payment information, so the tipbox is
generalized to refer to both addresses and invoices.
- A few words are added to clarify why sharing an address or invoice
doesn't create security risks: Bitcoin is push-only.
- We mention the privacy downsides of sharing addresses or invoices and
encourage generating new addresses for each payment.
- Use "recovery code" instead of "mnemonic phrase" or "seed phrase". A
new tipbox describes that mnemonic implies memorization but that's bad
practice. The phrase recovery code is generic enough to apply to a
variety of schemes, including Electrum seed words, BIP38 seed words,
aezeed, and non-phrase schemes like that used in Muun.
- Be clearer about the difference between "wallet" and "wallet
software".
- Mention that restoring from a code doesn't restore labels or
offchain transaction info.
- Warn about re-entering your code into malware / phishing attacks.
- Full nodes don't need to store transactions long-term or serve data to
other software, so mention those as option
- Stop calling full nodes "clients". Add a tipbox describing that full
nodes are the peers on Bitcoin's P2P network.
- Mention that mobile wallets and web wallets almost universally use
remote servers for scanning, reducing privacy.
- Rename "hardware wallets" to "hardware signing devices". In general,
all these devices do is display info about an unsigned transaction to
a user and then sign it if the user approves. They need to be paired
with other software that implements all of the other wallet behavior.
We rename them accordingly and mention that the security and privacy
of the wallet they pair with plays a role in the user's security and
privacy.
- A key element of the problem is *leaderless* selection; mention this.
- Drop the list of other things PoW helps with. Some of them are very
wrong, e.g. "proving the fairness of elections".
- Bitcoin was invented in 2007 (not 2008) per Nakamoto saying he'd
worked on it for about a year and a half prior to publication. Update
text to just say "first described in 2008"
- Of the inventions Bitcoin combined, b-money wasn't one of them. We
know that Nakamoto sent his original paper to Adam Back, Back told
Nakamoto about Wei Dai's b-mony, and Nakamoto contacted Dai in order
to add the b-money reference to his paper as an example of a previous
related idea. Nakamoto was aparently unaware of b-money before then
and so couldn't have combined it with other ideas in the creation of
bitcoin. Updated text from "b-money" to say "digital signatures",
which is a critical technology that was obviously part of Bitcoin's
original combination.
- The text describes "the" critical invention of Bitcoin as using PoW to
conduct an global election. Although that was critical, other factors
may also have been critical (e.g. difficulty adjustments to keep the
rate of issuance relatively constant). Updated text to say "a"
critical invention.
- Changed Bitcoin from exceeding the combined processing power of top
super computers to exceeding the number of computing operations.
It's not really fair to compare ASICs to general purpose CPU chips;
it's like comparing a wrench to your hand.
- Updated the dollar value of the largest transaction to "over a billion
dollars"; dropped the amount of the transaction fee. I think this
will better future-proof the text.
Previous text mentioned all bitcoins would be mined by 2140, which is
correct but easily confuses people who don't understand exponential
decay into thinking a substantial number of bitcoins will continue to be
mined for a century.
Previous text said they "verify" transactions, but that's not always the
case (e.g. validationless mining) and it may give readers the impression
that the entities primarily responsible for verifying transactions are
miners---when it's actually users who are ultimately responsible for
verifying the transactions they care about.
The commit ab5ae32bae is the last commit
for the second edition, so all changes since then are dropped except for
several commits for the third edition authored by Andreas Antonopoulos.
No attempt is made to remove CC-BY-SA or other licensed content present
in the already-published first or second editions.
This revert may itself be reverted for versions of the book published
under CC-BY-SA.
David A. Harding