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Matheus
npub1ejlc...54s4
Author of free book Bitcoin by a Newbie
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Matheus 1 year ago
What if there is a bug in Bitcoin's code? Well, exactly 12 years ago, a bug was discovered! At the end of March 11, 2013, a Bitcoin miner running version 0.8 created a large block (at height 225,430) that was incompatible with earlier versions of Bitcoin. This caused a fork in the Bitcoin network and resulted in two separate blockchains. In the early hours of the following day, the developer community identified the problem: on February 19th of that same year, version 0.8 of the code had been released. This version included a change in the database system that allowed a greater volume of transactions in each block, which the previous version 0.7 did not support. With the recent increase in transaction volume on the Bitcoin network, some blocks exceeded this limit and were rejected by nodes running version 0.7 but accepted by version 0.8, creating two incompatible blockchains. Pieter Wuille announced that after discussions, the community recognized that the least risky path was to continue with the old chain. The correction plan included several actions: miners needed to stop using version 0.8 and return to version 0.7, and nodes that had updated to the latest version needed to revert to the previous version. Another recommendation was for merchants to stop accepting Bitcoin payments temporarily to avoid the risk of accepting transactions on the new chain, which would be discarded if the plan succeeded. The plan worked, and 24 blocks later, the old chain had become the longest chain again. #bitcoin #nostr #btc image
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Matheus 1 year ago
Remember Laszlo, the guy who bought two pizzas in 2010? Well, exactly 7 years ago, on February 25, 2018, he did it again, this time using the Lightning Network. Given the significant appreciation in Bitcoin's value, Laszlo paid 649,000 satoshis, or 0.00649 bitcoins. Interestingly, the commonly shared picture of Laszlo in a red shirt with his two children around a table with two pizzas, often attributed to the 10,000 BTC pizza purchase in 2010, is actually from the Lightning Network transaction in 2018. In the picture, there is a notepad in front of the pizzas with the code "7241 A8C1," which are the first and last four characters of the hex string of the transaction. This code proved he paid the invoice, as a friend from London acted as a middleman, accepting the Lightning payment and facilitating the real purchase with the local pizza shop. #bitcoin #BTC #Nostr image
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Matheus 1 year ago
Exactly 8 years since this episode! While the then-president of the institution that erodes the population's purchasing power was giving a speech, a sign pointed to the hardest asset ever created by humanity. On 12th February 2017, Christian Langalis, a 22 year old guy held up a "Buy Bitcoin" sign during Fed chair while Janet Yellen was speaking to the House Financial Services Committee. Langalis was promptly escorted out of the room. He later received around 7 BTCs in donations. On April 25th, 2024, Langalis sold his iconic sign in an auction. The Scarce City auction for the sign took place at PubKey, a Bitcoin-themed bar in New York City, and the sign was sold for 16 BTCs. #bitcoin #btc #nostr image
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Matheus 1 year ago
Curiosity: Exactly 14 years ago, on February 10, 2011, two terms were suggested to name the "cents" of Bitcoin. We know that "satoshi" was one of the terms! What was the other one? Comment, and if you get it right, I will zap! #bitcoin #nostr
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Matheus 1 year ago
A bit of Bitcoin history: Exactly 12 years ago, Bitcoin mining changed. Jeff Garzik posted on his blog that he had just received a package from China: an ASIC (Application-Specific Integrated Circuit) used for mining Bitcoins. The equipment in question was much more efficient than the GPUs used up until that point. The next day, Garzik shared his mining results: "After 20 hours of mining, the unconfirmed + confirmed rewards total 14.98832170 BTC." #bitcoin #btc #nostr image