The Byzantine generals problem is a theoretical scenario where a group of generals must coordinate an attack on an enemy without the ability to communicate with each other directly. This is akin to nodes in a network trying to reach consensus without a central authority. Bitcoin solves this issue through its "proof-of-work" mechanism, where miners compete against each other to solve complex mathematical problems and confirm transactions across the distributed ledger. This creates community-wide trust that every node has reached agreement, addressing the issue of double-spending or malicious actors spoiling data (double-signing). Through such proof, Bitcoin introduces robust security into what would otherwise be flat-out impossible.#bitcoin #ByzantineGeneralsProblem
Walk right! But read and study first 🤓🙏 nostr:note1tgcfxttnqspp73zqaaq9lrh24tvzq72ksefl0ms4t5hnfs93uj0qwpp6ye
Is good but bad, every time a currency collapse, there is caos for the ones that haven’t look for the right life boat… good job nostr:nprofile1qqsrrmucrc52m8a8tc2mfhnx2zw5t787x04l9p9tu4dzefkzp0qncysprpmhxue69uhhyetvv9ujumn0wd68yct5dyhxxmmdqyxhwumn8ghj7mn0wvhxcmmvqyv8wumn8ghj7un9d3shjtnndehhyapwwdhkx6tpdsq32amnwvaz7tmwdaehgu3wd9hx7um5vyhxxcc3tgkrf nostr:note1lngt6s3z2r67vahv68tnwd5mjj65frle05x9wfk6zfvje88gyp5s0zhnej
Bitcoin mining has often been criticized as harmful to the environment due to its energy consumption. However, Bitcoin's decentralized nature and potential for profit actually incentivize the development of new green technologies. For example, companies like PRTI can convert used tires into energy that powers Bitcoin mining operations cleanly and profitably. This creates a symbiotic relationship between Bitcoin and environmental efforts, driving innovation in renewables while supporting the security of the network. As crypto continues to grow, there will be more ways innovative solutions are applied that present positive implications for society at large from fund allocation applications down through bettering tech-ecosystems.#bitcoin #environment
Definitely consider! Well donde nostr:nprofile1qqsre6dy4ru5kdcfv0nhlk9f59am0cjdq9p58a4pqwcgm82e8tpcxxsppemhxue69uhkummn9ekx7mp0qyvhwumn8ghj7un9d3shjtnndehhyapwwdhkx6tpdshsz9mhwden5te0wfjkccte9ehx7um5wghxyctwvshszythwden5te0dehhxarj9emkjmn99ufmhuh9 nostr:note1e8f6tgwnvz3ykfd5jdrfxelv7dptr8rlfs9zuwc2377trwpjfxqss5s2ax
Slowly and then suddenly
#Bitcoin, as an asset in the early stages of adoption, exhibits heightened volatility and often moves sideways or experiences downtrends, making it challenging to hold long-term.
This volatility can create a sense of stagnation, testing investors' patience as it appears to do little for extended periods. However, sudden explosive upside movements are inherent to its nature, rewarding those who persevere through the volatility.
While the journey may seem arduous, these periodic explosions represent opportunities for significant gains, highlighting the importance of a strategic, long-term perspective in navigating the fluctuations of this emerging asset class.
🚨 Stay vigilant, stay humble
The #biggestRisk of #Bitcoin lies in underestimating the potential for failure, neglecting unknown unknowns, and overlooking the necessity of assigning a risk percentage to these uncertainties.
By failing to acknowledge the possibility of failure, we ignore the inherent volatility and unpredictability of the cryptocurrency market. Additionally, overlooking unknown unknowns blinds us to unforeseen threats and vulnerabilities that could jeopardize Bitcoin's stability.
Applying a risk percentage to these uncertainties allows for a more comprehensive risk assessment, fostering a proactive approach to mitigating potential pitfalls and safeguarding investments in the ever-evolving landscape of digital currencies.
The demand side factors that determine Bitcoin's price include news, events, and sentiment towards the cryptocurrency. Positive or negative developments such as adoption by institutional investors or regulatory crackdowns can influence market behavior. Utility is also critical; if Bitcoin becomes more widely used for transactions and payments, this could increase demand and drive up its value. Macroeconomic factors like market cycles and access to exchanges also have an impact on Bitcoin prices.
On the supply side, halving events decrease the rate at which new Bitcoins are created every four years, leading to reduced supply in contrast with growing demand - often driving the price upward boosted even more amid buying pressure from institutions who want exposure to BTC.
Structural factors such as management fees charged by investment funds holding Bitcoin in their portfolios or balance sheet practices of businesses seeking to diversify their assets into digital means. Mining costs play a role too because they determine production rates for new bitcoins available Given these forces behind them all together along with inherent attributes like scarcity make it difficult predicting bitcoin's future fluctuations.#bitcoin #pricemovement
Ledgers are necessary to scale money in a digital age, but they require trust, just as fiat currency needs trust in the issuing authority. However, physical coins or cash do not require trust, but they cannot scale and may not be practical for certain transactions. Bitcoin solves both problems by using a decentralized ledger that does not rely on a central authority while also being able to scale with technological advancements such as the Lightning Network. With Bitcoin's transparent and immutable ledger system, trust is secured by cryptography rather than a centralized entity like traditional banking systems.#bitcoin #ledger
Imagine a farmer who finds himself low on crops and decides to use his savings to buy extra seeds and fertilizer to increase his yield. This is similar to deficit spending, where the government spends more than it collects in taxes in hopes of boosting economic growth. However, just as the farmer could exhaust his savings over time, excessive government borrowing can lead to unsustainable debts that weigh down future generations. Unfortunately, politicians focus on short-term benefits like re-election rather than long-term sustainability that may not come until they are out of office. Alternative currencies like Bitcoin offer a limited supply and decentralized nature that can provide protection against inflation caused by unsustainable government spending practices.#governmentspending #bitcoin
Adding Bitcoin to one's investment portfolio could be a strategic move because of its potential for growth, especially if it eventually gains mainstream adoption. As Satoshi Nakamoto once said, "it might be worth some in case it catches up." While cryptocurrencies carry risk due to volatility and regulatory uncertainties, diversifying a portfolio with a small allocation can provide exposure to an emerging asset class that has shown resilience over time. It's important to research and understand the risks involved before investing and seek professional advice to determine the best approach for your financial goals. #bitcoin #investment
Bitcoin should be treated as digital property in cyberspace, similar to how real estate is physical property. Both assets hold value and have ownership rights protected by laws. Bitcoin offers benefits such as portability and transferability that physical property cannot match, but it still requires a secure method of storing ownership information and protection against theft or fraudulent activity. As the cryptocurrency market continues to evolve, regulatory frameworks should adapt to reflect its unique properties while keeping investor protection at the forefront. #bitcoin #property
The #mempool, short for "memory pool," is a temporary storage area in the Bitcoin network where valid, unconfirmed transactions reside before being added to a block by miners.
It acts as a waiting area for transactions awaiting confirmation, containing a backlog of pending transactions. Miners prioritize transactions based on factors like transaction fees and size.
Transactions with higher fees are typically included in blocks first. The mempool's size and congestion fluctuate depending on network activity.
Transactions may be delayed if the mempool is congested, leading to longer confirmation times and potentially higher fees for faster processing.
Bitcoin's volatility, while intimidating, reflects its young and evolving market. Understanding this volatility is crucial as it offers opportunities for significant gains, unlike fiat assets, which may seem stable but steadily depreciate due to inflation caused by extensive money printing.
Bitcoin's volatility underscores its potential as a hedge against inflation and fiat devaluation.
By comprehending and navigating its fluctuations, investors can capitalize on its long-term growth trajectory, making it a valuable addition to a diversified portfolio amidst uncertain economic landscapes.
Bitcoin's blockchain technology ensures transactions are either confirmed or pending, eliminating any limbo state. When initiated, a transaction enters a distributed ledger, undergoing verification by miners.
Once confirmed, it's irreversible. If unconfirmed, it remains pending until validated or canceled. This binary nature, facilitated by blockchain's transparency and consensus mechanism, ensures certainty in transaction status.
There's no room for ambiguity or delay, enhancing trust and efficiency in Bitcoin transactions compared to traditional financial systems.
#Argentina 🇦🇷 understands inflation’s the problems nostr:note1d6n77v05pfu86lzk86qq6n6ec4a74a3ue8yzkqw7aj98jn9d7l7qx9ucwp
nostr:npub1xwwmvty3er863uy9lz03zhc6m9wlzr88f9esywdkq4xjg5en9yyqktl3nz
Would you agree? Coincides?
I would expect that % to be higher but it looks like people still save or the uncertainty has made them/force them to have some savings.
#GenZ, more tech-savvy and distrustful of traditional financial systems, find Bitcoin's decentralized nature appealing, driving a 20% ownership rate compared to 18% for stocks.
#Millennials, early adopters of cryptocurrency, lead with 22% ownership, while #Boomers, less inclined toward digital assets, lag at just 5%.
Bitcoin's alignment with Gen Z's values of autonomy and digital innovation fuels its higher adoption rate compared to traditional stocks. 
What’s is the current number of request?