BitcoinCash is the currency of the Internet which follows [Satoshi Nakamoto's](https://en.wikipedia.org/wiki/Satoshi_Nakamoto) original vision. A distributed, worldwide, decentralized digital money on a public ledger known as a ["Blockchain"](https://en.wikipedia.org/wiki/Blockchain). Unlike traditional currency such as dollars, BitcoinCash is issued and managed without the need for any central authority whatsoever.
The Dusk Network is a privacy-oriented blockchain protocol, that anyone can use to create zero-knowledge dApps. By allowing Dusk to be openly accessible, Dusk Network aims to become the privacy infrastructure of choice for an entire ecosystem of solutions.
When a human first discovered fire, they could not image that one day fire would help take us beyond the grip of Earth's gravity. In the beginning, fire was used to give light in the dark and keep us warm in the cold. It took thousands of years to develop fire into the tool we now use to explore space. Bitcoin is digital fire. We have this tool that we use as "sound currency". It was dropped on earth for us to figure out, and so far all we've figured out is that this digital fire is valuable and can be instantly teleported anywhere in the world. We all need to step back and see the Bitcoin network as a whole. We've got to look beyond the price of bitcoin. We've got to move past the idea that all Bitcoin is is sound money. It's so much more than that! It's an immutable public ledger. Bitcoin can theoretically be used as an indestructible Library of Alexandria available for everyone to see at anytime. An entire new internet model can develop around its blockchain. We will use the bitcoin network for things we cannot yet imagine. For this to last for generations, we have to develop layers on the bitcoin blockchain that serves significant purposes beyond money. The value proposition of bitcoin has been the cornerstone of its success for a decade. To succeed in the next generation we must let bitcoin show us it's TRUE potential. This digital fire can do unimaginable things.
1 BTC bounty: What are the best 7 (or less) bullet statements that best describe Bitcoin?
I will award 1 BTC to the best 7 (or less) concise bullet statements that best describe the most important things people should know about Bitcoin. The goal of these statements is to quickly explain the importance of Bitcoin in simple terms. Impact and brevity are the key things I'm looking for. My attempt at this (from Bitcoin Help):
Bitcoin is internet money that can be transferred instantly anywhere in the world.
Bitcoin is not managed or controlled by any company, bank, or government.
The Bitcoin system is a public network of people's computers running Bitcoin software.
Bitcoins are numeric amounts tracked on a public ledger. Bitcoins cannot be arbitrarily created and the total amount is limited to 21 million.
The Bitcoin software is free and open source. Its usage has accelerated globally since being released in 2009.
Bitcoin solves the problem of getting computers, that may not trust each other, to securely track transactions and agree on updates to a public ledger.
Bitcoin is changing the way people think about money because it eliminates the need of a centralized middleman to manage the money supply and facilitate transactions.
That's 130 words - please try to beat it. Feel free to modify or reuse those statements as a starting point. Each bullet statement must be in plain text and can have a maximum of two sentences. Post them as comments in this thread. Optionally include your BTC address (or you can PM/email that to me, or I can contact you for it if you're deemed a winner). Contest ends on April 29 8:00PM EDT. The winner also agrees that the statements will be available for public use under the WTFPL license. I will also be posting the statements on the Bitcoin Help - "What should I know about Bitcoin?" page (with attribution if so desired by the winner). I'll decide the winner, but I'll base that decision heavily on comments' upvotes. And I may pick and choose statements from multiple comments, in which case the bounty will be proportionately broken up between the winners: roughly .14285714 BTC per winning statement. Have fun! -BB [email protected] PGP pub key: http://bitcoinhelp.net/brotherbitcoin.asc EDIT 1: PGP signed this message w/ pub key here EDIT 2: I'm seeing some good submissions. Let me restate that I'm looking for statements that describe what Bitcoin is, how it works, and why it's so important. These should preferably be in layman's terms and entice the reader to learn more. ~10 hours to go! EDIT 3: OK the contest has come to an end. I'm reviewing all the submissions, and will reveal the winner(s) and send payments within the next hour later this evening. EDIT 4: Thanks everyone for your submissions! Though it was sad to see that many good answers had been downvoted. I've narrowed down my favorites to the submissions from these users:
I've got to step out for a bit, but I will finish choosing the winner(s) later this evening. RESULTS: thanks again to all those who participated. Hopefully this thread will be of some value to others as well. It was tough choosing the best statements, but here are the winners and they'll be rewarded 0.14285715 BTC per statement:
Bitcoins are digital money you can send through the internet like an email. - bruh____
The Bitcoin network is not run by a company or government, but by the people for the people. - Free__Will
The total number of Bitcoins is limited to 21 million, and they can be divided to 8 decimal places. - Free__Will
Bitcoin software is free and can be used on any computer system or mobile phone that is connected to the Internet. - jnflsbitcoingroup
The code behind Bitcoin is open source, meaning anyone can read exactly how it works and verify its integrity. - bruh____
It is the first currency in history to be managed collectively by its users, and not a central authority. - koleslaw
Since it's inception, Bitcoin use has grown exponentially. - Free__Will
09-14 08:15 - 'because say you have a large amount of bitcoin and you transact with someone they can pretty easily see how much bitcoin you have on the public ledger. We wouldn't be happy if every time we used our credit cards the...' by /u/mrelevenoutoften removed from /r/Bitcoin within 100-110min
''' because say you have a large amount of bitcoin and you transact with someone they can pretty easily see how much bitcoin you have on the public ledger. We wouldn't be happy if every time we used our credit cards the cashier could say our entire balance so why should we be happy about that with bitcoin? Privacy concerns are becoming more of a mainstream issue and I should expect this to be reflected in the adoption of monero. Furthermore bitcoin is not fungible. Say you receive bitcoin rather than send and the person is shady unbeknowst to you, you could now get into trouble or have your BTC seized on a centralised exchange because that bitcoin is "tainted". Due to the private nature of Monero you wouldn't have to worry about such a thing. ''' Context Link Go1dfish undelete link unreddit undelete link Author: mrelevenoutoften
08-11 06:34 - 'Not really, bitcoin is an open ledger. Nothing stopping the government from passing a law which states you must disclose your public address AND if you start to receive transactions from another address which isn’t registered t...' by /u/KrisBkh removed from /r/Bitcoin within 32-42min
''' Not really, bitcoin is an open ledger. Nothing stopping the government from passing a law which states you must disclose your public address AND if you start to receive transactions from another address which isn’t registered then you’ll be contacted about it...... If you want to be truly “off the grid” then use a truly private crypto like Monero ''' Context Link Go1dfish undelete link unreddit undelete link Author: KrisBkh
what do you call this feature of a cryptocurrency?
i've been reading about the yap rai stones and how they were used in the past as 'money'... people in the tribe did not move the massive stones but everyone just knew who owned which stone (and which part)... sort of like a public ledger (bitcoin)... there was a story of a ship losing one of the stones and when they came back to the island they told the story and everyone agreed that counting the stone is still valid... my question is this is like a missing/forgotten private key... losing your bitcoins... if in the future some sort of blockchain ownership could be proven, could a feature like this be part of some type of crypto currency... it would mean creation of new coins (transforming the lost coins into something new that can be recovered)... it would solve people dying accidentally and not being able to pass on their bitcoins or just losing the private key in a fire... how is crypto addressing lost coins right now?
How does the bitcoin public ledger benefit anybody when sending and receiving addresses change after every transaction, and how are people still tracked through the ledger when the addresses change, why is it still necessary to send your bitcoins through a tumbler to hide your tracks?
Bitcoin will never be widely adopted, because it was never meant to be. Corporations and media outlets are establishing a cheap culture that paints public distributed ledgers as quick money and we are all enabling it.
Youtube 'influencers'. Coinbase. Bitcoin futures. Goldman Sachs. Bitcoin ETFs. CNN. All they do all day is track the price of fucking Bitcoin and tell you where it's headed in the next days/months/years and why you should buy or sell. They never talk about other projects and they never talk about the actual tech. They do this for two reasons:
They're entirely aware that Bitcoin is and will continue to be outclassed in every way by multiple other projects. In other words, it has no future. The digital gold narrative is complete bullshit. It takes a freakishly long time and a lot of efforts to overcome solely the mathematical difficulties of building a network that scales well, is secure and operates in a way that is economically sound. Even with a dedicated, qualified, focused team with plenty of resources, it's a tough task. When you look at Bitcoin's governance, it's clear that not only do they not have a focused team, it seems to be actively trying to hinder its development for short-term economic gain.
Bitcoin is a gatekeeper to the rest of the market that keeps it completely irrational, because it has gathered a cult of uneducated and wishful investors who cling to it like their life depends on its future. It makes absolutely no sense for a currency to be valued in the hundreds of billions with current levels of adoption, subpar tech and the uncertainty that surrounds it, yet everyone is, 8 months after a prodigious bubble still clinging to the hopes of an ETF while a dozen other teams are progressing by leaps and bounds. Bitcoin is the badge that allows dodgy projects to bloom despite their nonsensical business plans and gives birth to micro-cults who congregate in their echo chambers to rehash talking points about technologies they don't understand.
Where's Wall Street in all this? Simple. This market is a prodigious tool for value extraction. The lack of regulation and volatility combined with how easy it is to manipulate quite simply makes it a predatory financial institution's wet dream. However, everything falls apart if Bitcoin does. Bitcoin keeps the whole show running because it's the living proof that fundamentals don't matter as the the space isn't mature enough to price based on valuation.
The bitcoin blockchain has failed to be a public ledger
tldr: The blockchain is supposed to be a public ledger, yet after a week of trying, I still can't answer a basic question like 'how much BTC was transacted yesterday?' Out of curiosity, I've been trying to get some numbers out of the blockchain (I want to graph transaction volume over time) Since the whole point of the blockchain is that it's a public ledger visible by anyone, I assumed this would be trivial. Since bitcoin is now many years old, I assumed that there would be at least one easy to use code library for reading the blockchain. I was wrong. First of all, if you try to search online for blockchain code libraries, all you get is libraries for accessing data from 3rd party sites like blockchain.info. I asked around and everyone kept telling me to grab the data from similar 3rd party sites. But the whole premise of a blockchain is that it's a way of publicly storing data for everyone to see, without needing to trust some random third party. Yet when I want to look at that data, everyone tells me to trust some random third party. I tried getting data from blockchain.info, but it keeps timing out. I wrapped each request in my code in a try/except block, and repeat the request many teams with increasing delays. Still doesn't work. I just wanted a library to download the last N blocks from the network of nodes from the bitcoin network. I don't think such a library exists. The only way to get the last few blocks themselves (straight from the network) is to install bitcoind, and download the entire blockchain. That's over 150GB! I don't have enough hard drive space on my laptop, or enough download quota on my home internet connection. So I spun up a virtual machine in Amazon web services. Note: in order to view the 'decentralised' blockchain, I need to use the most centralised technology ever created. Wooh, so democratising \s Now after many days, I finally have a lot of blkxxxxx.dat and revxxxxx.dat files. (Far fewer than one per block, for some unknown reason.) There is no convenient python library for reading them, and no findable documentation for the file structure. (Sure I could look at Satoshi's white paper, but the blocks have changed since then)
Did you know that pictures of Nelson Mandela and "Mr. Burns" are stored in the Bitcoin blockchain? Read the latest paper from Ledger to learn more about the state of the art for inserting arbitrary data into a public blockchain.
It is a distributed, decentralized public ledger which is a continuously growing list of records which are stored in the form of blocks. These blocks in a blockchain are connected to each other through cryptography, which keeps the confidentiality of the transactions intact. A blockchain is a time-stamped series of immutable (tamper-proof) record of data which is not managed by a central ... Bitcoin relies on “proof-of-work” as a consensus algorithm: The miners help verify every transaction by solving a cryptographic puzzle, and then add the verified block of transactions to the distributed ledger. Bitcoin’s built-in reward system compensates successful miners with a few Bitcoins. Bitcoin is the first blockchain ever created relying on proof-of-work. It has since spread to ... Bitcoin hype ebbs and flows with the volatile price. The key innovation is what is often called “blockchain technology”. What is that really? It’s just a public ledger. But a very special ... Install the Bitcoin app on your Ledger hardware wallet to manage Bitcoin (BTC) with Ledger Live. The Bitcoin app is developed and supported by Ledger. Check the Bitcoin wallet page to learn more about bitcoin, and have a look on the buy bitcoin page to buy BTC assets the safe way. Before you start. Set up Ledger Live with your Ledger device. The block chain is a shared public ledger on which the entire Bitcoin network relies. All confirmed transactions are included in the block chain. It allows Bitcoin wallets to calculate their spendable balance so that new transactions can be verified thereby ensuring they're actually owned by the spender. The integrity and the chronological order of the block chain are enforced with ...
In this quick tutorial I show you how to send and receive Cryptocurrencies on Ledger Nano S Easily. I show you step by step how to receive ethereum on your l... Ledger Nano S internal info about addresses, transactions, segwit addresses for Bitcoin and Litecoin with real coin demonstration You use this procedure at your own risk! Part 1: Bitcoin addresses ... For text and Index to Bitcoin Videos, go to https://bitcoinsimplified.blogspot.ch/ Keep all your crypto safe & upgrade to a Ledger Nano X Hardware Wallet https://shop.ledger.com/pages/ledger-nano-x?r=5243ecbb8427 Alternatively, if you prefe... In this video, the CryptoDad shows you how to Download and install the Bitcoin Private Wallet. To skip the ShaSum Check at 4:55 got to 7:16 Software used: 7Z...