100 members! 🎉
Excited to see our local meetup group growing.
Next meetup is on Monday, January 29th where we go deep on self-custody and cold storage.
If you're in Winnipeg, come join us.
ETH is going to flip BTC. 😂🤡
This is the point of Bitcoin.
Bitcoin mining condominium design. Lol
The Bitcoin Consensus Rules
Ever since Bitcoin was first designed, the following consensus rules were written into the code and it exist to this day:
1) 21,000,000 Bitcoins to ever be produced
2) Target of 10-minute block intervals
3) Halving event occurring every 210,000 blocks (approximately every 4 years)
4) Block reward which starts at 50 and halves continually every halving event until it reaches 0 (approximately by year 2140)
Many people think that the whole purpose of mining is to get the rewards but that's just the incentive built into the system so that people invest in purchasing and running miners to secure the Bitcoin Network.
Why Are There Bugs on the Cover of the latest edition of Mastering Bitcoin?
I love this about O'Reilly books and find this particular choice of creature to be extra special.
Here's the reasoning copied over from the book page.
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The leafcutter ant is a species that exhibits highly complex behavior in a colony super-organism, but each individual ant operates on a set of simple rules driven by social interaction and the exchange of chemical scents (pheromones).
Per Wikipedia: “Next to humans, leafcutter ants form the largest and most complex animal societies on Earth.”
Leafcutter ants don’t actually eat leaves, but rather use them to farm a fungus, which is the central food source for the colony.
Get that? These ants are farming!
Although ants form a caste-based society and have a queen for producing offspring, there is no central authority or leader in an ant colony.
The highly intelligent and sophisticated behavior exhibited by a multimillion-member colony is an emergent property from the interaction of the individuals in a social network.
Nature demonstrates that decentralized systems can be resilient and can produce emergent complexity and incredible sophistication without the need for a central authority, hierarchy, or complex parts.
Bitcoin is a highly sophisticated decentralized trust network that can support myriad financial processes.
Yet, each node in the Bitcoin network follows a few simple rules.
The interaction between many nodes is what leads to the emergence of the sophisticated behavior, not any inherent complexity or trust in any single node.
Like an ant colony, the Bitcoin network is a resilient network of simple nodes following simple rules that together can do amazing things without any central coordination.
Bitcoin mining can fund and maintain electricity grid development. 
Bitcoin mining is what makes the decentralized clearing house for peer to peer transactions possible.
It serves two core processes:
Mining nodes validate all transactions based on bitcoin’s consensus rules.
Mining creates new bitcoin in each block like a central bank prints new fiat money.
The amount of bitcoin created per block is limited and diminishes as time goes on based on a fixed and agreed upon timeline.
This is how Bitcoin provides a way to remove the need for a 3rd party to own, manage and control a central ledger (Central Bank bank accounts).
BREAKING 🚨
Bitcoin recovery codes word list leaked. 😱
If you're in #Winnipeg #Manitoba, come join us on Monday, January 13th for our first Bitcoin meetup of 2025.
Learn about Bitcoin self-custody and cold storage.
RSVP Below
Come join us for the Bitcoin Manitoba January 2025 Meetup
Bitcoin Self Custody & Cold Storage
RSVP & tell your friends!
You won't want to miss this informative session on Bitcoin self-custody.
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#Bitcoin is the ultimate hedge against inflation.
With central banks printing money like there's no tomorrow, you'll want to have at least some bitcoin.
#Bitcoin isn't just a about NGU, it's a movement about financial freedom, decentralization, and taking power away from centralized institutions.