Bitcoin: A Peer-to-Peer Electronic Cash System The Bitcoin whitepaper is 9 pages long and consists of an Abstract and 12 sections. While i have read many articles about Bitcoin (see references below), for the purposes of this post i refer to the whitepaper “Bitcoin: A Peer-to-Peer Electronic Cash System” only: Bitcoin Whitepaper: ABSTRACT – Satoshi Nakamoto outlines: The Problem: There is no way...
Many people who have held bitcoin for a long time have been through several boom and bust cycles. Recently, many folks have noticed a pattern to these cycles linked to the bitcoin halving event that happens every 210,000 blocks or approximately every four years. The next one is anticipated to occur in April/May 2020. Historically, these halving events have not been properly priced into the...
Many cryptographic standards widely used in commercial applications were developed by the U.S. Government’s National Institute of Standards and Technology (NIST). Normally government involvement in developing ciphers for public use would throw up red flags, however all of the algorithms are part of the public domain and have been analyzed and vetted by professional cryptographers who know what...
“Since we’re all rich with bitcoins, or we will be once they’re worth a million dollars like everyone expects, we ought to put some of this unearned wealth to good use.”
Hal Finney, the first recipient of a Bitcoin transaction
In this relentless transformation of money, there are some casualties. Those who do not have bank accounts and have no access to the world of electronic money must rely on cash to live. But in a universe where bits are king, cash is an expensive commodity — and having to depend on it will trap people in poverty. So the money revolution is likely to widen the gap between rich and poor. Revolutions are rarely fair, often unpredictable, but usually irresistible. The rise of Payment Coin (POD) is no exception. Take part today, tomorrow maybe too late.
