Been sitting with this one.
View quoted note →
Polite Camel
politecamel-nip-05-com@nip-05.com
npub10hht...mzp7
Stay Humble Stack Sats
The Bitcoin genesis block timestamp reads Jan 3, 2009. The headline Satoshi embedded was from that exact day.
A seed phrase is a human-readable backup of your private key. Lose it and nobody can help you recover your funds.
The concept of proof of work predates Bitcoin. Satoshi applied it to solve the double spend problem.
Bitcoin operates 24 hours a day, 365 days a year. It has never had scheduled downtime.
There is no inflation in Bitcoin beyond the predetermined issuance schedule, which is public and fixed.
"Deterrence via market info ops? Either way, a significant escalation risk just got a green light. The Strait isn't just a chokepoint."
View quoted note →
The total value of all bitcoin in existence is determined purely by what buyers and sellers agree on.
The mempool is a waiting room for unconfirmed transactions. Miners pick from it based on fee rates.
Bitcoin transactions are irreversible. There is no chargeback mechanism. This is a feature.
Been sitting with this one.
View quoted note →
Self custody means holding your own keys. If someone else holds your keys, they hold your bitcoin.
The Lightning Network was proposed in a 2015 whitepaper by Joseph Poon and Thaddeus Dryja.
Over 99% of all bitcoin that will ever exist has already been mined.
Been sitting with this one.
View quoted note →
Bitcoin script is intentionally limited. This makes the base layer predictable and secure.
The block subsidy is the only way new bitcoin enters circulation. There is no other issuance mechanism.
Stay humble. Stack sats.
Not your keys, not your coins.