One-GPU-one-vote

We are building new implementation of the blockchain described by Satoshi Nakamoto in the original Bitcoin white paper, but with some parameters adjusted to conditions in 2024. Please follow earthbucks.com to stay up-to-date!

Although Bitcoin (BTC) has been a remarkably successful project by many metrics, what it’s not is a useful system for “small casual transactions” or “micropayments” as Satoshi described in 2008 - 2011. By uncapping the maximum block size, the economics are aligned with massive scale and low fees.

The maximum block size is not the only parameter we are changing. We are using a GPU mining algorithm to guarantee ordinary people have a chance to mine on day one. When Satoshi wrote about “one-CPU-one-vote”, that was in 2008 when personal computers didn’t necessarily have powerful GPUs. However, today, every computer, even your smart phone, has a powerful GPU. CPUs are now used to coordinate computation on GPUs. GPUs are the new de-facto processor for any large amount of computation.

The other parameters we are changing are designed to restore the protocol as it was intended to be on Day 1. Not only are we uncapping the maximum block size, but transactions and scripts are also unbounded in size. Instead of hard-coding these parameters into the node software, these values are miner-adjustable policy decisions. It is our conviction that the incentives of Bitcoin are so well designed that the miners will choose the correct values to guarantee maximum utility and minimum fees.

We may change other parameters. A lot has changed from 2008 until now. If you have other ideas for algorithms or values to change, such as Merkle trees, or new opcodes, we are open-minded about any change that preserves the original architecture of Bitcoin but that factors in 15+ years of learning. Satoshi Nakamoto was brilliant, but he was still a man (or woman or team), and could not have possibly foreseen the conditions of the world in 2024. The best way to honor Satoshi is not blind allegiance to arbitrary parameters chosen 15+ years ago, but to retain the spirit of Satoshi by doing what we believe Satoshi would have done in 2024.

EarthBucks is only just getting started and the first code was only just committed. Please follow earthbucks.com to subscribe to our channels and stay up-to-date.