Many people mistakenly believe that Proof of Work gives Bitcoin its value or that Bitcoin is "digital energy." This is not accurate. Proof of Work does three things:
1) Proof of work lets each node in a decentralized network independently determine which new block gets added to the Bitcoin blockchain.
2) PoW lets each node in the network independently verify the integrity of the blockchain.
3) PoW makes it prohibitively expensive for a bad actor to falsify the history of valid bitcoin transactions.
That’s all PoW does. It does not store energy. It does not digitize energy. It does not give Bitcoin its value.
Proof of Work provides a strong, mathematically verifiable signal that others value Bitcoin, as they are willing to expend a tremendous amount of energy to find the next block.
Ultimately, Bitcoin's value comes from the belief that others will accept Bitcoin as payment for scarce resources.
It’s that simple.
npub1t8gg...uwwd
npub1t8gg...uwwd
I wonder how many in the Nostr community know about Groove Networks and the P2P wave of the late '90s and early 2000s.
Stopped by the Damus booth at the Bitcoin Conference and got a demo of the new client. It was 🔥
This is huge. Yuuuge!
Halved
Headed to Dubai for Bitcoin Davos.
Happy New Year. May 2024 be the best year yet for Bitcoin.
My favorite Christmas gift is a mug with the Bitcoin logo smashing the Federal Reserve! 
Drivechain for Nostr 🤣
Are ya’ll still here?
Memorial Day weekend on Lake Austin. 
Perhaps we need a Bitcoin holiday where the Honey Badger brings sats to the children of the world. Giving candy to kids worked for Easter. 🐰
Has anyone written a good summary of the Nostrica conference?
Wishing I was at Nostrica. Here’s video of the event. https://www.youtube.com/live/2NueacYJovA?feature=share
Imagine if Bitcoin existed during the Occupy Wall Street movement.
We’re about to find out what happens when the banking system is stressed and people can move some of their capital outside the fiat banking system.
I love how the government executes Operation Chokepoint 2.0 and Bitcoin shoots above $27,000. Elizabeth Warren must be having a conniption.
Stop voting for Democrats that are openly against #Bitcoin https://twitter.com/bitcoinmagazine/status/1633933119920168965?s=46&t=GLKsGL6JsN8ZBADQPtzZFg
Binance tried to hire Gary Gensler! Imagine how the world would be different if they had successfully recruited him.
Unchained
Binance Tried to Hire SEC Chair Gary Gensler in 2018: Report - Unchained
The world’s largest crypto exchange Binance was set on hiring Gary Gensler as an advisor before he assumed office at the U.S. Securities and Exch...
My global feed is no longer filled with Chinese porn spam. Did relays implement some type of spam filtering?