What is the historic importance of bitcoin

How much btc do you actually have

#Bitcoin will go down in history as being on par or greater than the discovery of the printing press. Velocity of money is potentially greater than the velocity of information. As money controls information in today’s world. Money, available to all humans without being weaponized is one of the greatest discoveries/achievements the world has ever known.

Well I had some, but when I was excitedly signing up for nostr I misplaced my keys. So I lost my #Bitcoin in a nostr accident?

😆😆😆😆

And what makes bitcoin work?

Social consensus. Nodes, miners, people choosing to opt in and run the code. Is that what you mean? Or are you speaking of strings of numbers and actual code. Cause I’m not a coder, 😂😂😂😂

The "physics" as we could say

Hmmmm…are you speaking of thermodynamics? You have me stumped actually. 😂😂😂😂

Like what aspects or rules of Bitcoin make it secure?

Gotcha, I’m gonna go with hashrate. The higher the hashrate the harder it is to 51% attack. More hash, more miners plugged in, more people, businesses etc choosing to mine bitcoin and also paying the toll that mining incurs this protecting the network itself cause they don’t want to sell for a loss. Please tell me I’m right, 😂😂😂😂

It is, but why is a 51% attack neccesary? And why is it so difficult? And who validates it?

Nodes validate the blocks.. no nodes, no validators. So more nodes, more secure. 51% attack would be extremely hard because the nodes running bitcoin won’t choose to abandon it for some hard fork (b cash), as we see that even soft forks are crazy contentious. true bitcoiners understand the importance of time and the longest chain that has the most proof of work.

You passed the test: one last question, what and why is difficulty?

Did I mention my deep grasp of #Bitcoin is more on the philosophical side. 😂😂😂😂😂. I feel like I’m failing this test horribly

Nah you kicked ass

Cheers!

Tell me tell me!!! I want to know more

In short, longest pow means more energy put into creating history. We assume that you dont want to waste this energy, especially when you are also competing against others for the same goal. So to be the longest chain, it needs to grow faster then any other chain. This means that it requires more computation then any other chain and therefore always a majority. Which is 51 percent. The difficulty is basically finding a random value via complex mathematic formulas that starts with a given number of zeroes before any other symbol appears. Because a random value wont always give a value that starts with zeroes, it gets more difficult to find one if more zeroes are required. This is the difficulty of a block. If it cannot be verified to have this difficulty the block including reward wont be accepted. And in an economy, you want your transaction or reward to be accepted because otherwise it has no value.

Thank you! Love it.

Cheers. I like the philosophical side too.