This sounds good:
"Bitcoin, the separation of money and state."
But this sounds even better:
"Bitcoin, the separation of money and authority."
#Bitcoin
Not belonging to anything, that is true freedom.
#Bitcoin
Fiat Money's fundamental issue lies in its architecture—a structure of hierarchy and centralization that consolidates power and fosters an incentive system rewarding parasitic behaviour.
#Bitcoin
Privacy is a human right, it is not politics.
#Bitcoin
Bitcoin haters don't hate Bitcoin, they hate being wrong.
#Bitcoin
Crime, Money, and #Bitcoin
Money is more than just currency; it's a medium of exchange that enables transactions for goods and services. But what defines money, and how does Bitcoin fit into the picture?
Money is versatile, it allows you to buy anything. If something cannot be used to purchase goods or services without restrictions, it's not truly money. Bitcoin, with its decentralised nature, embodies the essence of money.
It could be a coupon, loyalty points, a gift card, or a token, but it's not really money if it comes with restrictions on how you can use it. It's not money because it has lost one of its fundamental properties: being a 'medium of exchange.'
Criminals have long used traditional currency for illicit activities. Similarly, they can use Bitcoin because it's money. However, it's essential to recognize that the tool itself is not the crime; it's the actions of individuals.
Attempts to control crime through monetary regulations often lead to overreach, with the organisation imposing control becoming the perpetrator. Bitcoin offers a decentralised alternative that puts control back in the hands of individuals.
Despite its association with criminal activities in media, the reality is that the vast majority of Bitcoin users are seeking to build a future based on unrestricted trade. However, like any form of money, it can be misused by a minority.
Bitcoin addresses the root causes of monetary issues by removing permissions, borders, centralization, and biases. It offers a transformative experience, empowering individuals and reshaping the way we view money.
By understanding the relationship between crime, money, and Bitcoin, we can appreciate the potential for positive change in the financial landscape. Bitcoin represents not just a currency but a paradigm shift in our understanding of money and its role in society.
#Bitcoin 🧡
‘Be like water making its way through cracks. Do not be assertive, but adjust to the object, and you shall find a way around or through it. If nothing within you stays rigid, outward things will disclose themselves.
Empty your mind, be formless. Shapeless, like water. If you put water into a cup, it becomes the cup. You put water into a bottle and it becomes the bottle. You put it in a teapot, it becomes the teapot. Now, water can flow or it can crash. Be water, my friend.’
Bruce Lee
📍Privacy is Personal Security:
Privacy plays a crucial role in ensuring personal security and protecting individuals from unwarranted scrutiny.
Privacy provides a sense of security.
📍Justice and Privacy:
Privacy enhances justice within societies by eliminating biases and moral judgments based on individual distinctions.
We're the only thing that can protect us and the only way to protect anyone is to protect everyone.
📍Security vs. Crime:
Security is more than just the absence of crime; it encompasses the presence of justice and fairness. Safe societies are built on principles of justice, starting with the rights of individuals. Therefore, privacy is essential for individual safety.
📍National Security vs. Public Safety:
The security offered by a nation or country, known as "National Security," is not synonymous with public safety and does not necessarily ensure the security of society's individuals. 'National Security' is State security.
📍Privacy as a Fundamental Right:
Privacy is a foundational human right that underpins other rights. It empowers individuals to control their personal information and maintain autonomy.
Privacy is the power to selectively reveal oneself to the world.
📍Exercising Human Rights:
Like muscles, human rights, including privacy, require exercise to remain strong. Neglecting them may lead to their erosion over time.
Privacy is not the antithesis of security. Privacy is security!
#Bitcoin #PrivacyMatters 🧡
'THE SHEEP WILL SPEND ITS ENTIRE LIFE FEARING THE WOLF, ONLY TO BE EATEN BY THE SHEPHERD.'
African Proverb
#Bitcoin
'I disapprove of what you say, but I will defend to the death your right to say it.'
-Evelyn Beatrice Hall
'FAST FORWARD TO 2136: HUMANITY HAS RETURNED TO THE COSMOS, LEAVING BEHIND THE LEGACY OF BITCOIN, TIRELESSLY OPERATING.
AT BLOCK 6,720,000, WE WITNESS THE MONUMENTAL #32 HALVING EVENT, USHERING IN THE 33RD REWARD ERA. IN THIS ERA, THE STAKES ARE UNLIKE BEFORE: EACH BLOCK SUBSIDY A MERE 0.00000001 BTC (1 SATOSHI), TOTALLING A MINTING MARVEL OF 0.00210000 BTC (210,000 SATOSHIS) FOR THE ERA.
BITCOIN'S RELENTLESS BEAT MARCHES ON, A TESTAMENT TO THE INGENUITY OF THOSE WHO ARE NOW STARDUST.'
#Bitcoin #BitcoinHalving
the halving party… 🥳
#Bitcoin
#Bitcoin Halving
Bitcoin is about to perform the fourth cut-in-half of currency creation rate (halving) at block height 840,000 and is expected to happen around the 20th of April, 2024.
Bitcoin’s data structure is an ordered chain of blocks where each block is linked to the previous one. 🟧🔗🟧🔗🟧
Bitcoin are minted during the creation of each block at a fixed and decreasing rate. Each block, generated on average every 10 minutes, contains completely new bitcoin, created from scratch through a transaction called a ‘coinbase transaction.’
📌What means halving?
The halving is an event where the currency creation rate is cut in half. From that block forward, miners will receive only 50% of the newly minted bitcoin they used to earn as a reward for their mining efforts, also known as the 'block subsidy.'
📌When does a halving occur?
The halving occurs every 210,000 blocks, that is, approximately every 4 years. At the beginning of Bitcoin, the block subsidy was 50 Btc per block, which is called Reward Era #1. Then at block 210,000, the first halving occurred and the currency creation rate decreased by 50% (50₿/2 = 25₿).
📌Reward Eras
Whenever a halving occurs, a new Reward Era begins. We are currently experiencing the Reward Era #4.
The first Bitcoin block occurred on 3rd January 2009, with block height 0, also known as the ‘Genesis block.’
📌Below is a series of halvings and Reward Eras:
Reward Era #1
Block subsidy 50₿
Block 0 - 209,999
Halving 1
Block 210,000
Timestamp 28-11-2012 15:24:38 (11 years ago)
Block subsidy 50₿/2 = 25₿
Reward Era #2
Block subsidy 25₿
Block 210,000 - 419,999
Halving 2
Block 420,000
Timestamp 09-07-2016 17:46:13 (8 years ago)
Block subsidy 25₿/2 = 12.50₿
Reward Era #3
Block subsidy 12.50₿
Block 420,000 - 629,999
Halving 3
Block 630,000
Timestamp 11-05-2020 20:23:43 (4 years ago)
Block subsidy 12.50₿/2 = 6.25₿
Reward Era #4
Block subsidy 6.25₿
Block 630,000 - 839,999
*present
Halving 4
Block 840,000
ETA 20-04-2024
Block subsidy 6.25₿/2 = 3.125₿
*to happen
Reward Era #5
Block subsidy 3.125₿
Block 840,000 - 1,049,999
*to come
#BitcoinHalving2024 🧡
Power without authority is nothing.
You take away their authority over your money, you are taking away their power over you.
#Bitcoin
Halving 3
Block 630000
Timestamp: 2020-05-11 20:23:43
₿: 12.50 🔪 6.25
Mining Pool: AntPool
*Inscriptions: 0
#Bitcoin 👇
It’s cool that Bitcoin supply is capped, but it’s even cooler that the issuance schedule is completely predictable.😎
#Bitcoin 🧡
Person-to-person interaction is the most primitive form of human relationships, operating without an intermediary and without the need for a hierarchical trust system is our intuitive way of relating.
#Bitcoin brings back "Decentralization" on a global scale.
Bitcoin revitalizes Peer-to-Peer interactions.
#Bitcoin Transactions in a nutshell 🤯:
📌Bitcoin transactions involve both inputs and outputs. This means a single transaction can spend multiple coins (UTXOs) and pay to multiple recipients.
📌Transaction outputs are programmable. It's the sender's wallet that determines which program to place on an output, which in turn determines what's required to spend the coins. Bitcoin is programmable money.
📌All transactions in Bitcoin can be traced back to one or more coinbase transactions, which is the only way new coins are issued in Bitcoin.
🧡