1) Twelve
2) special
3) words
4) represent
5) a
6) mathematical
7) key
8) which
9) cryptographically
9) protects
10) your
12) property
Bitcoin is merely speech, but is a profound use case for speech.
View the list of the special 2048 words here:
I've experienced a shift in my hierarchy of values due to #Bitcoin.
I'll find myself putting an item in my cart. About to check out.
Then think, "I could buy Bitcoin with this instead."
I cancel the purchase.
#Plebchain
What is coinbase?
________________
The coinbase is the first transaction in each bitcoin block, which distributes the subsidy earned when a miner successfully validates it as well as the cumulative fees for all transactions included in the block. The coinbase transaction effectively creates new bitcoin.
#Bitcoin
#Plebchain
From 64K RAM over a 56kbps line -> 420 EH/s and the Lightning Network
Experiencing the acceleration of digital tech capability has been exhilarating and exhausting.
Fasten your seatbelts. The next decade will not be boring.
#Bitcoin
#Plebchain
I frequently think about the significance of a novel purely peer-to-peer version of electronic cash that allows online payments to be sent directly from one party to another without going through a financial institution and uses cryptographically generated digital signatures to establish ownership of value and validate legitimate transactions recorded in a unified and auditable ledger stored on a distributed consensus-creating network via a CPU-based proof-of-work timechain that self-regulates a fixed and eventually deflationary monetary policy regulated by game theory incentives and a difficulty adjustment; all of which consequently lowers the time preference of its users, promotes personal responsibility, elevates property rights, inspires optimism, highlights the value of truthfulness, reduces deceit, and is open to any human who has the baseline tech tools used to benefit from its permissionless, jurisdiction-free, utility if they chose to opt-in to this globally available digital and social network.
Sparrow Wallet:
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has clear documentation for using with your Coldcard hardware wallet (among others) and explains how to mix coins (UTXOs) for improved privacy
If you're a #Bitcoin -er who had listened to various Bitcoin Twitter spaces, but now you're done with Twitter / X, you can find some of those Spaces broadcast on Nostr Nests.
For example, this morning you could tune in to:
"Money is typically chosen by a market as the most liquid and salable thing whose value is defended by its inherent scarcity...#Bitcoin is absolutely scarce, and there is no level of scarcity beyond absolute scarcity."
- Anil Patel, The Bitcoin Handbook
Well, I guess this quote from “The Creature from Jeklly Island” kind of summarizes all fiat fudgery, doesn’t it?
“A method had to be devised to enable them to continue to make more promises to pay-on-demand than they could keep.”
#Bitcoin, with its fixed supply, seems to be incompatible with a monetary system that is based around elastic supply, correct?
I mean, the two systems(Bitcoin and the Federal Reserve) are so different in principle, it’s hard for me to see how they could play nice together over the long term…
Won’t Bitcoin simply obsolete paper money over time?
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The Federal Reserve Act’s full name is:
“An act to provide for the establishment of Federal Reserve Banks to furnish an elastic currency, to afford means of rediscounting commercial paper, to establish a more effective supervision of banking in the United States, and for other purposes.”
- Layered Money, Nik Bhatia