AmericanHacker

#bitcoin #nostr note of the day ... Bitcoin is a system built entirely on cumbersome and expensive verification so it can eliminate the need for any trust or accountability between all parties: it is 100% verification and 0% trust. - The Bitcoin Standard G'daystr! 😁

#bitcoin #nostr note of the day ... Any change to Bitcoin's protocol that increases the size of the blockchain is highly unlikely to pass, not just for the reasons of immutability ... also because it would likely prevent most node operators from managing to run their own nodes, and because they are the ones who decide which software runs, it is safe to assume a significant intransigent minority of node operators will continue to run the current software, holding their current bitcoins, making any attempt to upgrade the Bitcoin software effectively just another worthless altcoin ... - The Bitcoin Standard G'daystr! 😁

#bitcoin #nostr note of the day ... The Bitcoin blockchain has placed a 1-megabyte limit on the size of each block, which has limited the pace at which the blockchain can grow. That limit allows simple computers to be able to maintain and run a node. Should the size of each block increase, or should the blockchain be used for more sophisticated processes such as those touted by blockchain enthusiasts, it would become too large to be run on individual computers. Centralizing the network over a few large nodes owned and operated by large institutions only defeats the entire point of decentralization. Trustless digital cash has so far been the only successful implementation for blockchain technology precisely because it is a clean and simple technological process to operate, leading to its ledger growing relatively slow over time. - The Bitcoin Standard G'daystr! 😁

#bitcoin #nostr note of the day ... ETH = 💩coin The Decentralized Autonomous Organization (DAO) was the first implementation of smart contracts on the Ethereum network. After more than $150 million was invested in this smart contract, an attacker was able to execute the code in a way that diverted around one-third of all the DAO's assets to his own account. ... In the aftermath of the DAO hack, Ethereum developers created a new version of Ethereum where this inconvenient mistake never occurred, confiscating the attacker's funds and distributing them to his victims. This re-injection of subjective human management is at odds with the objective of making code into law, and questions the entire rationale of smart contracts. If the second largest network in terms of processing power can have its blockchain record altered when the transactions do not go in a way that suits the interests of the development team, then the notion that any of the altcoins is truly regulated by processing power is not tenable. The concentration of currency holding, processing power, and programming skills in the hands of one group of people who are effectively partners in a venture defeats the entire purpose of employing a blockchain structure. - The Bitcoin Standard G'daystr! 😁

#bitcoin #nostr note of the day ... Bitcoin ... takes an entirely different approach to computer security ... and operates under the working assumption that all computer nodes are hostile attackers. ... If everyone is assumed dishonest, everyone must pay a large cost to commit transactions to the common record, and everyone will lose these costs if their fraud is detected. The economic incentives make dishonesty extremely expensive and highly unlikely to succeed. - The Bitcoin Standard G'daystr! 😁

The #1 reason to keep stacking #bitcoin. 😱 https://blossom.primal.net/421ea850f1bcf43e2cf3faa439e40188f0a17a3d2b83a0ca5b34bdef7dbd2c6d.mp4

This is hilarious, an amazing example of what AI can do. 😂 https://www.youtube.com/watch?v=JPsnwK5vLew #bticoin #nostr #golf

#bitcoin #nostr note of the day ... Bitcoin will likely increase individuals' freedom while not necessarily making it easier for them to commit crimes. It is not a tool to be feared, but one to be embraced as an integral part of a peaceful and prosperous future. - The Bitcoin Standard G'daystr! 😁

#bitcoin #nostr note of the day ... Bitcoin's ledger is globally accessible and immutable. It will carry the record of every transaction for as long as Bitcoin is still operational. It is inaccurate to say Bitcoin is anonymous, as it is rather pseudonymous. ... When it comes to anonymity, it is useful to think of Bitcoin as being as anonymous as the Internet: it depends on how well you hide, and how well the others look. ... Bitcoin's blockchain is not ideal for privacy. - The Bitcoin Standard G'daystr! 😁

#bitcoin #nostr I've never seen or owned a physical Bitcoin - what a cool concept. Casascius is the OG, you can get a bag of 500 for ฿0.39 😱 lol I wonder how many of the original funded ones are still floating around? https://www.casascius.com/

#bitcoin note of the day ... Saving in Bitcoin ... will not require many transactions, and so a high transaction fee is worth paying for it ... digital cash and digital sound money ... cannot compete with centralized solutions like PayPal and credit cards for small payments ... market demand for Bitcoin is driven by its use as a digital cash and digital store of value, rather than small digital payments. - The Bitcoin Standard G'daystr! 😁

#bitcoin note of the day ... Bitcoin is sovereign: it runs by its own rules, and there are no outsiders who can alter these rules ... think of the parameters of Bitcoin as being similar to the rotation of the earth, sun, moon, or stars - forces outside of our control which are to be lived, not altered. - The Bitcoin Standard G'daystr! 😁

#bitcoin note of the day ... Bitcoin ... continues to operate safely and reliably because it was built, from day one, to operate in a highly adversarial setting, subject to relentless attack. Programmers and hackers worldwide have tried to tear it apart using all sorts of techniques, and yet it has continued to operate according to the exact essence of its specification. - The Bitcoin Standard G'daystr! 😁

#bitcoin note of the day ... Proof of work (PoW) makes the cost of writing a block extremely high and the cost of verifying its validity extremely low, almost eliminating the incentive for anyone to try to create invalid transactions. ... Bitcoin can thus be understood as a technology that converts electricity to truthful records through the expenditure of processing power. Those who expend this electricity are rewarded with the bitcoin currency, and so they have a strong incentive to maintain its integrity ... the defense of the Bitcoin network is not just that attacking it has become expensive, but that the attack succeeding renders the attacker's loot worthless. Being an entirely voluntary system, Bitcoin can only operate if it is honest, as users can very easily leave it otherwise. - The Bitcoin Standard G'daystr! 😁

G'dafternoonstr #bitcoin #nostr I'm searching for a team of people to help me defeat the Provably Fair or Unfair (depends how you look at it) HI-LO game on FreeBitco.in Use my referral link to get started: https://freebitco.in/?r=53386374 Click on the Multiply BTC tab to play - you will earn at least a couple free sats per hour, then see how much you can accumulate. Let's make it a competition. Promote your referral URL or share it with your friends, and anybody who signs up using it will be automatically registered as your referral and you will earn commissions whenever they use the website. My current balance using only free sats (lol):

#bitcoin note of the day ... The real advantage of Bitcoin lies in it being a reliable long-term store of value, and a sovereign form of money that allows individuals to conduct permissionless transactions. - The Bitcoin Standard G'daystr! 😁

I wish I were an OG Whale, just didn't have the vision to take my orange pill in 2008. 😁 🙃 😉 https://www.theblock.co/post/370322/dormant-bitcoin-whale-wakes-up-first-time-in-13-years

#bitcoin #nostr lesson of the day ... "There's nothing like the smell of Bitcoin in the morning." - AmericanHacker Bitcoin, being completely voluntary and relentlessly peaceful, offers us the monetary infrastructure for a world built purely on voluntary cooperation. Contrary to popular depictions of anarchists as hoodie-clad hoodlums, Bitcoin's brand of anarchism is completely peaceful, providing individuals with the tools necessary for them to be free from government control and inflation. It seeks to impose itself on nobody, and if it grows and succeeds, it will be for its own merits as a peaceful neutral technology for money and settlement, not through it being forced on others. - The Bitcoin Standard