Categorybitcoin

What is Bitcoin ?

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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...

The Bitcoin Squeeze

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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...

NSA Backdoors and Bitcoin

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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...

Do Crypto Good

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“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

Satoshi didn’t envision Bitcoin as a new class

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Satoshi didn’t envision Bitcoin as a new class of bank controlled by the same corrupt power structures as our current financial system. Custodial solutions like Lightning are not changing our broken system. Users must control the keys to their digital money, not third parties.

@KimDotcom

NSA Backdoors and Bitcoin

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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...

Satoshi’s Genius: Unexpected Ways In Which Bitcoin Dodged Some Cryptographic Bullets

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As far as open-source protocols go, one area in which Bitcoin is unique is the sheer difficulty of making any changes to the protocol. Unlike most other protocols, where features can be added, modified or deprecated at a moment’s notice, in the world of Bitcoin even the slightest change requires the simultaneous cooperation of the vast majority of the entire Bitcoin network. The reason for this...

NSA and ECC

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I’ve been reading up recently on the revelations that the NSA is subverting implementations/service providers to undermine various internet crypto standards (see this: ). Now this has all of the basic hallmarks of a ‘scare campaign’ where people are led to believe that crypto techniques/mathmatics themselves are insecure rather than the truth that the NSA is attacking the...

Not all post 2011 Satoshi appearance has been debunked

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Such a sensitive topic, so let me note a few things before I start: I will omit the guessing game of what Satoshi’s appearance would or would not matter/mean, what he wants or does not want and just present the hard facts. Not disproved ≠ proved, so do not misunderstand me… oh some of you will, I know you will… The hilarious Satoshi hunts, like the Dorian Nakamoto and Craig Wright sagas are out...

bitcoinj – lightweight simplified payment verification (SPV)

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bitcoinj is a library for working with the Bitcoin protocol. It can maintain a wallet, send/receive transactions without needing a local copy of Bitcoin Core and has many other advanced features. It’s implemented in Java but can be used from any JVM compatible language: examples in Python and JavaScript are included. It comes with full documentation and many large, well known Bitcoin apps...

Social

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.