I have been running one for around a year now with no issues except it gets hot sometimes. Not sure I hooked up my fan correctly.
I just asked AI to ELI5.
Imagine you have a piggy bank full of coins. Each coin represents a UTXO. When you want to spend Bitcoin, you take some coins out of your piggy bank and send them to the person you are paying.
The more coins you take out, the heavier your transaction will be. Miners charge fees to process transactions, so the heavier your transaction is, the higher the fee will be.
You can reduce the fee by combining multiple coins into a single coin before you send it. This is like taking a bunch of small coins out of your piggy bank and exchanging them for a single large coin.
You can also reduce the fee by waiting for a time when there is less demand for block space. This is like waiting until there is less traffic on the road before you drive to your destination.
Here is a simplified analogy for a 5-year-old:
Imagine you are standing in a line at the store with a bag of candy. Each piece of candy represents a UTXO. When you want to buy something, you hand the cashier some candy from your bag.
The cashier needs to count your candy to make sure you have enough to pay for the item. This takes time, so the cashier charges a fee for each piece of candy that they have to count.
You can reduce the fee by putting all of your candy into a single container before you go to the store. This way, the cashier only has to count the candy once.
You can also reduce the fee by going to the store at a time when there is less traffic. This way, the cashier has more time to count your candy.
I hope this helps!
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Both are newsletters that you can sign up for. Both are short and sweet. I have been subscribed for quite a while and the only thing you'll miss outside of these is noise.
When given the option of setting up a hardware wallet with a 12 or 24 word key, what are the pros/cons of each? Which one should you use?
#Bitcoin
Ordered.
I've only dated one woman that could cook better than me so I would prefer it if you would stay out of my kitchen.
That's pretty cool. Those will be an interesting read.
GM!
I'm old enough to remember waiting on TVs to warm up.
How does it warn you? Is it audible? Because I couldn't handle that on the hour drive to work each day.
I continue to view nostr:npub1a3hrd4wfawr578d5y5l0qgmh7lx8q6tumfq0h7eymmttt52veexqkcfg37 as one of the best podcasts out there. And probably the best podcast relative to its size.
They spent a whole episode talking about risks, which is important.
https://youtu.be/jzF6jg7d7-I?si=AObmQkcmU8iqkpJ-
Some podcasts speak to an echo chamber and reinforce their own views. Dan and Josh from Blue Collar Bitcoin are always reaching to challenge themselves and their audience.
As much as I like Austrian economic theory, what I really love is good money *winning in the field*. I love to see practical discussions about good money from people around the world who aren’t in the primary business of talking about money. They end up doing it more interestingly than most monetary theorists.
Agreed. One of the few podcast of any topic that I listen to every episode.
What crypto holdings? I lost my cold storage wallet in a boating accident.
