Unlocking Knowledge: Bitcoin in Plain Language
This series continues to translate the original white paper by Satoshi Nakamoto to plain language. The goal is to have easily shared content, and send new people directly to nostr to read it. The original content will be posted, with the plain language below.
Please show support by sharing or sending sats.
Original
1. Introduction Paragraph 1
Commerce on the Internet has come to rely almost exclusively on financial institutions serving as trusted third parties to process electronic payments. While the system works well enough for most transactions, it still suffers from the inherent weaknesses of the trust based model. Completely non-reversible transactions are not really possible, since financial institutions cannot avoid mediating disputes. The cost of mediation increases transaction costs, limiting the minimum practical transaction size and cutting off the possibility for small casual transactions, and there is a broader cost in the loss of ability to make non-reversible payments for non-reversible services. With the possibility of reversal, the need for trust spreads. Merchants must be wary of their customers, hassling them for more information than they would otherwise need. A certain percentage of fraud is accepted as unavoidable. These costs and payment uncertainties can be avoided in person by using physical currency, but no mechanism exists to make payments over a communications channel without a trusted party.
Plain Language
When we buy things online, we usually rely on banks or other trusted companies to "handle" the money. It works fine most of the time, but there are some issues. For example, once we pay, it's not always possible to undo the transaction if there's a problem. Banks have to step in to solve disputes, which adds extra costs and makes small transactions more difficult.
This reliance on trust also means that merchants have to be careful with every customer, asking for more information than they would really need. There's always a risk of fraud, and we just accept that some amount of cheating is unavoidable.
When we use physical money in person, we can avoid these issues, but when it comes to paying over the Internet without involving a trusted middleman, there's currently no good system in place.
#bitcoin #crypto #btc #blockchain #cryptocurrency #hodl #digitalgold #decentralized #satoshi #cryptonews #satoshinakamoto #whitepaper #bitcoinwhitepaper #nostr #grownostr
Unlocking Knowledge: Bitcoin in Plain Language
This series continues to translate the original white paper by Satoshi Nakamoto to plain language. The goal is to have easily shared content, and send new people directly to nostr to read it. The original content will be posted, with the plain language below.
Please show support by sharing or sending sats.
Introduction Paragraph 2
What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party. Transactions that are computationally impractical to reverse would protect sellers from fraud, and routine escrow mechanisms could easily be implemented to protect buyers. In this paper, we propose a solution to the double-spending problem using a peer-to-peer distributed timestamp server to generate computational proof of the chronological order of transactions. The system is secure as long as honest nodes collectively control more CPU power than any cooperating group of attacker nodes.
Plain Language
We need a way to pay for things online without relying so much on trust and middlemen like banks. Imagine a system where you and another person can directly make transactions without needing a third party to oversee everything. To prevent fraud, we want transactions that are practically impossible to reverse.
In our idea, we suggest using a peer-to-peer system with a special server to keep track of when transactions happen. This server helps us prove the order of transactions through advanced computer work. As long as the good guys have more computing power than any group of bad guys, our system stays secure. It's a digital way of making sure everything happens in the right order without someone trying to cheat the system.
#bitcoin #crypto #btc #blockchain #cryptocurrency #hodl #digitalgold #decentralized #satoshi #cryptonews #satoshinakamoto #whitepaper #bitcoinwhitepaper #nostr #grownostr
Unlocking Knowledge: Bitcoin in Plain Language
The following series will translate the original white paper by Satoshi Nakamoto to plain language for the nostr audience. The goal is to have easily shared content, and send new people directly to nostr to read it. The original content will be posted, with the plain language following.
Please show support by sharing or sending sats.
Original
Abstract. A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending. We propose a solution to the double-spending problem using a peer-to-peer network. The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work. The longest chain not only serves as proof of the sequence of events witnessed, but proof that it came from the largest pool of CPU power. As long as a majority of CPU power is controlled by nodes that are not cooperating to attack the network, they’ll generate the longest chain and outpace attackers. The network itself requires minimal structure. Messages are broadcast on a best effort basis, and nodes can leave and rejoin the network at will, accepting the longest proof-of-work chain as proof of what happened while they were gone.
Plain Language
Imagine you have a way to trade things online, and you don't need any banks or outsiders to help out. Like a secret code that makes sure no one cheats and spends the same money twice.
Here's the tricky part: sometimes, you still need someone to make sure nobody's manipulating the system. The solution: instead of having just one person in charge, everyone participates in the system. Every time someone trades something, we write it down on a special list and solve a puzzle to make sure it's a real trade.
This list keeps growing. The longest list, with the most puzzles solved, becomes the official record of all the trades. It's so strong that nobody can change it or cheat because it would take too much work to redo all the puzzles.
The people trading are very easygoing. People can come and go as they want, and we still trust the longest list to show us what happened when someone was away. As long as most people in our team are playing fair and not trying to mess things up, our trading system stays safe and works well.
#bitcoin #crypto #btc #blockchain #cryptocurrency #hodl #digitalgold #decentralized #satoshi #cryptonews #satoshinakamoto #whitepaper #bitcoinwhitepaper #nostr #grownostr
Doctrine Puts Citizens, Laws, and Prosperity on the Chopping Block - Sacrifices Made in the Primal Pursuit of Self-Survival
From The Creature from Jekyll Island, 5th Edition, Chapter 11 The Rothschild Formula:
“If such a man were to survey the world around him, it is not difficult to imagine that he would come to the following conclusions which would become the prime directives of his career:
War is the ultimate discipline to any government. If it can
successfully meet the challenge of war, it will survive. If it
cannot, it will perish. All else is secondary. The sanctity of its
laws, the prosperity of its citizens, and the solvency of its
treasury will be quickly sacrificed by any government in its
primal act of self-survival.”
In this worldview, war emerges as the litmus test for governmental resilience. Survival hinges on conquering the challenges of war, making all else—laws, prosperity, and fiscal health—secondary. Governments, driven by primal self-preservation, prioritize the brutality of conflict over the well-being of citizens and the integrity of their institutions.
#gedwardgriffin #jekyllisland #gold #silver #bitcoin #federalreserve #endthefed #government #war #inflation #rothschild #money #war
Rothschilds Expose the Cold Calculus of War Profiteering: Conflict Becomes a Lucrative Playground for the Financial Elite
From The Creature from Jekyll Island, 5th Edition, Chapter 11 The Rothschild Formula:
“He also has learned that wars can be profitable, not only by lending or creating the money to finance them, but from government favoritism in the granting of commercial subsidies or monopolies. He is not capable of such a primitive feeling as patriotism, so he is free to participate in the funding of any side in any conflict, limited only by factors of self interest.”
In a world where profit trumps patriotism, the Rothschilds unveil the darker side of war financing. Armed with shrewd understanding, they exploit the lucrative nature of conflicts, not just by bankrolling them but by leveraging government favoritism. Devoid of primitive sentiments like patriotism, they maneuver through conflicts, funding any side that serves self-interest.
#gedwardgriffin #jekyllisland #gold #silver #bitcoin #federalreserve #endthefed #government #war #inflation #rothschild #money #war
Perpetual War
From The Creature from Jekyll Island, 5th Edition, Chapter 11 The Rothschild Formula:
“If such a man were to survey the world around him, it is not difficult to imagine that he would come to the following conclusions which would become the prime directives of his career:
No nation can be allowed to remain militarily stronger than its adversaries, for that could lead to peace and a reduction of debt. To accomplish this balance of power, it may be necessary to finance both sides of the conflict. Unless one of the combatants is hostile to our interests and, therefore, must be destroyed, neither side should be allowed a decisive victory or defeat. While we must always proclaim the virtues of peace, the unspoken objective is perpetual war.”
Do you think the United States is involved in perpetual war?
#gedwardgriffin #jekyllisland #gold #silver #bitcoin #federalreserve #endthefed #government #war #inflation #rothschild #money #war
Behind Closed Doors: Cashing in on Chaos – Financiers Fueling Global Wars for Profit
From The Creature from Jekyll Island, 5th Edition, Chapter 11 The Rothschild Formula:
“Let us imagine a man who is totally pragmatic. He is smarter
and more cunning than most men and, in fact, holds them in thinly disguised contempt. He may respect the talents of a few, but has little concern over the condition of mankind. He has observed that kings and politicians are always fighting over something or other and has concluded that wars are inevitable.”
In the realm of unbridled pragmatism, the Rothschilds stand as detached observers. With a subtle arrogance, they gaze upon the tumultuous pursuits of kings and politicians, deeming them predictable in their perpetual conflicts. Their calculated minds, unburdened by societal concerns, recognizes the inevitability of wars, offering a dispassionate perspective on the ceaseless struggles of mankind.
#gedwardgriffin #jekyllisland #gold #silver #bitcoin #federalreserve #endthefed #government #war #inflation #rothschild #money #war
Strategy to Ensure Government Compliance
From The Creature from Jekyll Island, 5th Edition, Chapter 11 The Rothschild Formula:
“If such a man were to survey the world around him, it is not difficult to imagine that he would come to the following conclusions which would become the prime directives of his career:
The ultimate obstacle is a government which declines to finance its wars through debt. Although this seldom happens, when it does, it will be necessary to encourage internal political opposition, insurrection, or revolution to replace that
government with one that is more compliant to our will. The
assassination of heads of state could play an important role in
this process.”
Does the United States want people to be more compliant to its will? Has the United States assassinated heads of state?
#gedwardgriffin #jekyllisland #gold #silver #bitcoin #federalreserve #endthefed #government #war #inflation #rothschild #money #war
Decentraleyes: Boosting Speed and Protecting Privacy
Decentraleyes is your digital guardian angel, shielding your online privacy. Instead of relying on external content delivery networks (CDNs), it brings essential website resources right to your browser, reducing reliance on third-party servers.
This not only accelerates page loading but also acts as a privacy barrier.
By preventing your data from being shared with external entities, Decentraleyes curtails the risk of online tracking by keeping your data closer and away from prying eyes.
#foss #freedom #surveillance #privacy #cybersecurity #opensource
Unmasking the Malevolent Machinations Behind Global Conflict Instigation
From The Creature from Jekyll Island, 5th Edition, Chapter 11 The Rothschild Formula:
“If such a man were to survey the world around him, it is not difficult to imagine that he would come to the following conclusions which would become the prime directives of his career:
To involve a country in war or the threat of war, it will be
necessary for it to have enemies with credible military might. If such enemies already exist, all the better. If they exist but lack military strength, it will be necessary to provide them the
money to build their war machine. If an enemy does not exist at all, then it will be necessary to create one by financing the rise of a hostile regime.”
Does the United States have, or manufacture, enemies with credible military might? Have you recently been aware of financing hostile regimes?
#gedwardgriffin #jekyllisland #gold #silver #bitcoin #federalreserve #endthefed #government #war #inflation #rothschild #money #war
Firefox Containers for Privacy and Customization
Cross-contamination, in the digital realm, poses a significant threat when logged into multiple sites simultaneously. Each platform you access becomes a potential entry point for malicious actors seeking to exploit shared login credentials. A breach on one site can compromise your sensitive information across others, jeopardizing privacy and security. To mitigate this risk, create containers, each with an individual purpose.
Containers also prevent sites from sharing information with each other, building a profile about you and your habits.
Here are some example containers:
General Browsing
Social Media
Financial
Email
Shopping
YouTube
#privacy #surveillance #cybersecurity #freedom #government #foss #mozilla #firefox
Some prefer to keep certain parts of our browsing habits separate from others. The reason is privacy.
For example, when a user is logged into their social media account, and sees an ad for a health related item, and clicks the link, the original social media site will "connect the dots" and associate the sensitive item with the user's social media profile. This activity is unacceptable for privacy conscious desktop users.
Firefox Containers significantly enhance privacy by compartmentalizing browsing activities. With Containers, users can isolate websites into distinct containers, preventing them from sharing cookies and stored data. This isolation curtails cross-site tracking, thwarting advertisers and third-party entities from creating comprehensive user profiles.
By maintaining separate containers for different purposes, users can segregate personal, work, and social browsing, fortifying their online privacy. This robust feature empowers individuals to control their digital footprint, mitigating the risks associated with invasive tracking and fostering a more secure online experience.
As a bonus, you can use the new Firefox privacy feature, explained here: 
Governments Incur Debt Through Devastating Conflicts
From The Creature from Jekyll Island, 5th Edition, Chapter 11 The Rothschild Formula:
“If such a man were to survey the world around him, it is not difficult to imagine that he would come to the following conclusions which would become the prime directives of his career:
All that is necessary, therefore, to insure that a government will maintain or expand its debt is to involve it in war or the threat of war. The greater the threat and the more destructive the war, the greater the need for debt.”
This perspective unveils a chilling calculus where war becomes a calculated means to ensure a government's perpetual indebtedness. The greater the threat and destruction, the more indispensable debt becomes. It highlights a disconcerting relationship between conflict, financial leverage, and the sustenance of a government's economic apparatus.
#gedwardgriffin #jekyllisland #gold #silver #bitcoin #federalreserve #endthefed #government #war #inflation #rothschild #money #war
Most of our time is spent in a web browser. This valuable tool continues to serve us well, preventing distraction and intrusion by blocking things we never wanted to see in the first place.
uBlock Origin stands out as an exceptional browser extension for enhancing online browsing. It not only optimizes page loading speed but also significantly reduces the intrusion of unwanted ads and trackers. The extension's customizable filters provide users with granular control over content, enhancing privacy and security. uBlock Origin's open-source nature and commitment to user empowerment make it an invaluable tool for those seeking a cleaner, safer, and more efficient online environment.
The preferred browser is Firefox. However, this tool is available for all major browsers.
#privacy #surveillance #cybersecurity #freedom #government #foss #ublockorigin
"Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances."
In the context of the First Amendment of the United States Constitution, the phrase "redress of grievances" refers to the right of citizens to bring their complaints, concerns, or grievances to the attention of the government and seek remedies or solutions for those issues. This phrase signifies the government's responsibility to address and consider the concerns of its citizens.
What does a citizen do when the grievance is the size of the federal government itself?
The bloated behemoth that is the federal government has imposed itself on individual states, individual people...and expanded influence across the world to nearly every country. How does one dismantle something that is hard coded into nearly everything on this planet?
#constitution #freespeech #government #freedom #grownostr